News

How Wall Street Scams Counties Into Bankruptcy - Bloomberg

07/01/12

The purpose of the payments, the SEC alleged, was to make sure the commissioners hired JPMorgan as the underwriter of municipal-bond sales and swaps contracts ... Last November, Jefferson County filed for bankruptcy protection, largely a ...

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Business bankruptcies - Minneapolis Star Tribune

07/01/12

This is a list of recent business-related bankruptcies filed in U.S. Bankruptcy Court in Minneapolis and St. Paul. The number after the filing date is the case number. A Chapter 7 petition is for liquidation of the business; Chapter 11 (or ...

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War on pensions moves to new target: those already retired - Chicago Sun-Times

07/01/12

In Stockton’s Chapter 9 bankruptcy filing (after a 90-day state mandated mediation), the city said it will eliminate the city’s contribution to retiree health care, along with suspending interest payments to bondholders and making cuts in union contracts.

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Washington area bankruptcy filings for the week of July 1 - Washington Post

07/01/12

These firms recently filed with the U.S. Bankruptcy Court’s local court clerk’s offices. Under Chapter 11 of the federal bankruptcy code, a company is protected from claims by creditors while it attempts to reorganize its finances under a plan approved ...

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Legal Directory Announces Resource for Those Like Stockton, CA Facing Bankruptcy - PRWeb

07/01/12

Recently the city of Stockton, California announced, as reported by WSJ, that financial conditions in the city were worsening and that bankruptcy may be a solution to their difficulties. In the case that Stockton, California does declare bankruptcy ...

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Pa. lawmakers OK longer Harrisburg bankruptcy ban - msnbc.com

07/01/12

(AP) — A bill designed to keep Pennsylvania's financially troubled capital out of federal bankruptcy court for five more months has the approval of the state Senate and House of Representatives. The extension barring Harrisburg from filing for bankruptcy ...

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Irish tycoon goes bankrupt, but its effect felt in India - Times of India

07/01/12

In fact, the bankruptcy declared in January of Sean Quinn, who had been estimated by Forbes to have been worth $6 billion in 2008, has led to court proceedings in three cities in India. The litigation in Delhi, Hyderabad and Pune arose from an ...

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Analysis: Stockton, California new paradigm for struggling cities - YAHOO!

07/01/12

can reach consensus with its creditors and craft a plan to exit bankruptcy quickly others may follow suit, legal experts said. "Successful cases breed more filings," said Andrew Glenn, a bankruptcy partner in New York at Kasowitz Benson Torres & Friedman.

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Analysis: Stockton, California new paradigm for struggling cities - msnbc.com

07/01/12

can reach consensus with its creditors and craft a plan to exit bankruptcy quickly others may follow suit, legal experts said. "Successful cases breed more filings," said Andrew Glenn, a bankruptcy partner in New York at Kasowitz Benson Torres & Friedman.

[more]

Analysis: Stockton, California new paradigm for struggling cities - Reuters

07/01/12

can reach consensus with its creditors and craft a plan to exit bankruptcy quickly others may follow suit, legal experts said. "Successful cases breed more filings," said Andrew Glenn, a bankruptcy partner in New York at Kasowitz Benson Torres & Friedman.

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