Liquidation

Lerner and Rowe Opens Criminal Bankruptcy and Real Estate Law Group - YAHOO!

04/30/12

Bankruptcy cases the law group now handles include Chapter 7, Chapter 11, Chapter 13 and debt consolidation. Attorney Robert Beucler leads this division and is a Board Certified Specialist in Bankruptcy Law with 20 years of experience representing clients ...

[more]

Hearings scheduled on reopening Cheboygan hospital - Syracuse Post-Standard

04/29/12

The hospital announced March 1 that it was filing for Chapter 11 bankruptcy protection after losing more than $7 million last year. It closed unexpectedly April 3 after a $5 million sale to McLaren fell through over licensing issues for Medicare and Medicaid services.

[more]

Hearing in Kodak plan to pay retention bonuses - Syracuse Post-Standard

04/29/12

ROCHESTER, N.Y. (AP) — Lawyers are set to debate whether Eastman Kodak Co. should pay $13.5 million in bonuses to retain key employees as it reorganizes under bankruptcy protection. About $8.5 million would go to 119 middle managers and $5 million more ...

[more]

A bankruptcy attorney's warning about repealing Obamacare - Daily Oklahoman

04/29/12

These will be juicy chapter 11 cases, generating millions in bankruptcy attorney fees, only to eventually convert to chapter 7 liquidation. Hospitals can absorb only so much loss; they can transfer only so many uninsured costs to those with insurance.

[more]

Derivatives risk remains poorly understood - Financial Times

04/28/12

Many hailed Lehman Brothers’ recent emergence from Chapter 11 as a triumph of the US bankruptcy process. Unfortunately, many of Lehman’s former customers are not cheering. Those who entered into credit default swaps, interest rate swaps or other swap ...

[more]

FALDP Launches New Online Course: Bankruptcy Basics Chapter 7 - PRLog (free press release)

04/28/12

The Florida Association of Legal Document Preparers is pleased to announce the launch of a new online course - Bankruptcy Basics Chapter 7. This fundamental course is geared toward new bankruptcy petition preparers working in Florida. PRLog (Press Release ...

[more]

Bankruptcy Will Provide Relief for Salt Lake Foreclosures - PR-USA.net

04/28/12

2010 and Sept. 2011, and over 6,000 were filed under Chapter 13. Benefits of Chapter 13 Bankruptcy Chapter 13 bankruptcy, unlike Chapter 7, allows a debtor to remain in possession of his or her property. There are debt limits in a Chapter 13 bankruptcy.

[more]

Federal bankruptcy judge Alexander L. Paskay dies - Tampa Bay Online

04/28/12

Alexander L. Paskay, a long-serving federal bankruptcy judge in Tampa, died this week. He was 89. Paskay was known as a jurist with a sense of humor, thick Hungarian accent, a curiosity in the courtroom, and a dedication to mentoring law students ...

[more]

Maclaren USA Evades Court Investigation Of Its Puzzling Bankruptcy - Huffington Post

04/27/12

The type of bankruptcy that Maclaren USA declared, Chapter 7, calls for its total dissolution without the possibility for a restructuring. It also puts a halt to all pending lawsuits. "There's a lot of red flags making us scratch our heads and ...

[more]

ResCap Chap. 11 could KO Ally - New York Post

04/27/12

Ally Financial could sustain losses of between $400 million and $1.25 billion in the event of a bankruptcy filing by its troubled Residential Capital mortgage unit, the government-owned auto lender said in a securities filing yesterday. ResCap is ...

[more]