Bankruptcy Law

“It’s all varying degrees of take- aways.” The negotiations, which were required under California law before Stockton could file bankruptcy, helped both sides prepare, Rose said. That may make it easier to reach a deal in court, he said. Contract … Continue reading →

So far it is the only one to have closed, doomed by the priorities of UK bankruptcy law, the British government’s laissez faire approach and strategic calculations by trading houses who saw more opportunities from other refinery assets.

Abound is the third clean-energy company to seek bankruptcy protection after receiving a loan from the Energy Department under the economic stimulus law. California solar panel maker Solyndra and Beacon Power, a Massachusetts energy-storage firm …

So far it is the only one to have closed, doomed by the priorities of bankruptcy law, the government’s laissez faire approach and strategic calculations by trading houses who saw more opportunities from other refinery assets. Workers at the plant … Continue reading →

That is why US banks have always been excluded from the Bankruptcy Code, even before deposit insurance was developed. Instead, they have been reorganized or liquidated under special resolution laws administered by their regulators or the FDIC. One of the … Continue reading →

The 112-year-old symphony has already raised the $3 million needed to pay debts tied to its bankruptcy, allowing it to leave court protection sometime next month, Lawrence G. McMichael, with the Philadelphia law firm Dilworth Paxson LLP …

Rhode Island, Pennsylvania, Alabama, Illinois and lots of other states have municipalities that have already used the bankruptcy laws, and the numbers looking at it are growing exponentially. In New York alone, stop-gap state actions like …

Creditors and collectors often try to press borrowers for outstanding debt after a bankruptcy, even though bankruptcy law says they’re not allowed to do that. A subset of the debt collection industry known as “death-debt collection” involves …

a bankruptcy attorney who has studied municipal bankruptcies. In February, the city began a process during which it is required by state law to review its finances with help from a “neutral observer” who is picked in cooperation with creditors.

INFRASTRUCTURE, PENSIONS FIRST TO GO Worried about financial fallout on other local governments, Pennsylvania’s state government passed a law that prompted a federal judge to block a bankruptcy filing by the state capital of Harrisburg. Local officials …