Liquidation

Madoff Class-Action Lawsuit Is Blocked by U.S. Bankruptcy Judge - Businessweek

06/20/12

A U.S. bankruptcy judge barred a class-action lawsuit filed in Florida against the estate of former Bernard Madoff investor Jeffry Picower. The Madoff brokerage trustee, Irving Picard, settled a lawsuit against the Picower estate for $7.2 ...

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Taxes & finance: Bankruptcy proceedings, chapter and verse - Willits News

06/20/12

Have you heard anyone say they are going Chapter 7? Most people have a vague notion that this is some sort of bankruptcy proceeding, but know little else. It actually refers to one of the chapters in the Federal Bankruptcy Code. The code was ...

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The Daily Docket: Berkshire, Nationstar Named Lead Bidders for ResCap

06/20/12
Reuters
Warren Buffett holds a Dairy Queen ice cream bar and answers reporters’ questions before the Berkshire Hathaway annual meeting in April 2011. 

Wa

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Chapter 7 vs. Chapter 13 Bankruptcy - Examiner

06/19/12

There are three different types of bankruptcy, but Chapter 7 and Chapter 13 are the two types of bankruptcy that can be filed by individuals.  If you are thinking about filing for bankruptcy, it is important to understand the difference between ...

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The Daily Docket: Judge Approves ResCap Examiner

06/19/12
Bloomberg
Warren Buffett

A judge on Monday granted the wish of Warren Buffett’s Berkshire Hathaway Inc.

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The Daily Docket: Judge Approves ResCap Examiner - Wall Street Journal

06/19/12

The sister of former Detroit Mayor Kwame Kilpatrick filed for Chapter 7 bankruptcy, the Detroit Free Press reports. Courts are seeing more bankruptcy-filing abuse by nonlawyers, Legal Times reports. The Tulsa World reports that American Airlines ...

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Former Ravens Player, Jamal Lewis, Files for Bankruptcy - Transworld News

06/18/12

Some of them live extravagant lives and overextend their finances, but a bankruptcy attorney can draft a plan that will allow them to reduce their liabilities and start over. Individuals most often benefit from a Chapter 7 or Chapter 13 debt-relief plans.

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Museum: Bankruptcy isn’t Silver’s business - Free Lance-Star

06/18/12

“Celebrate VA does not hold a financial stake in the museum’s bankruptcy case—without regard to whether it is a Chapter 11 or a Chapter 7 case,” Robinson wrote. “When Celebrate VA conveyed the land to the museum, it relinquished all ...

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Ayanna Kilpatrick files for bankruptcy - Detroit Free Press

06/18/12

Ex-mayor Kwame Kilpatrick's sister has filed Chapter 7 bankruptcy, owing more than $345,000 to numerous creditors -- including Nordstrom, Macy's, Discover and DTE -- and more than $54,000 in back taxes to the government, according to records ...

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The Purpose of Bankruptcy - jdsupra.com

06/18/12

But the flip side of this is that bankruptcy is also designed to protect your assets i.e. prevent them from being sold to pay off your debts. Both Chapter 7 and Chapter 13 bankruptcy are for this purpose. Chapter 13 bankruptcy is where you pay off your ...

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