Bankruptcy Law

The council voted 4-2 Tuesday night to authorize filing under Chapter 9 of federal bankruptcy law. The city of 209,000 is so broke it can’t make its payroll, said interim City Manager Andrea Travis-Miller. A filing by San Bernardino would … Continue reading →

NEW YORK, July 11 (Reuters) – Dewey & LeBoeuf offered on Wednesday to drop potential claims against former partners if they collectively shell out up to $103.6 million to the estate of the largest U.S. law firm ever to declare … Continue reading →

where bankruptcy laws are much less severe. “Irish laws on bankruptcy are tough and somewhat draconian in nature,” says David Russell, solicitor at Bracewell Law, which specialises in insolvency in both Great Britain and Ireland. In Ireland, a person must … Continue reading →

Writer Jarrett Skorup notes that bankruptcy judges have more power to cut local expenses to pay off creditors than an emergency manager. “Around the country there are a growing number of painful examples when there is no effective law in … Continue reading →

Such bonus programs are common in Chapter 11 cases of publicly held companies, said Robert Rock, senior bankruptcy attorney with Albany-based law firm Tully Rinckey. “The concept is that these bonuses are given to key executives in order to keep … Continue reading →

The move is part of the city’s “pendency plan” aimed at keeping it solvent while it seeks protections from creditors under federal bankruptcy law. Plaintiff Alfred Seibel, 58, a retired parks worker, said he can’t afford the premiums and can’t … Continue reading →

Once rare, turning to bankruptcy has become a painful but enticing option … which would trigger an “emergency exit” clause in the new state law that governs municipal bankruptcies. Otherwise the city would be forced to mediate with labor …

Asked whether bankruptcy would help solve those problems … Denniston, a partner at Schiff Hardin LLP in San Francisco and one of the people who drafted AB 506, a law passed in 2011 to govern bankruptcies in California. Officials can … Continue reading →

Ms. Travis-Miller said it would take 30 days before city staff would be prepared to file the paperwork in bankruptcy court. Under a California law passed this year, cities must hire a third-party mediator to negotiate with employee unions and … Continue reading →

It’s a settlement that could head off a lengthy court fight in the biggest law firm bankruptcy in U.S. history. The proposed deal would cover clawback claims the estate has against hundreds of Dewey’s former partners. The firm is seeking … Continue reading →