Medical bills prompt more than 60 percent of bankruptcies (HealthCentral.com) Some US researchers say many Americans are just one illness away from bankruptcy--whether they realize it or not. A pre-recession study of 2314 bankruptcies ...

Equifax: Small biz bankruptcies double in March (Bizjournals.com) The Los Angeles area was a hotbed for small-business bankruptcies in March, according to data released Monday by credit reporting firm Equifax Inc. ...

Bankruptcy Filings Up More Than 33 Percent (Credit Unions Online) US bankruptcy filings were up 33.3 percent for the 12-month period ending March 31, 2009, compared to the previous 12 month period ending March 31, 2008...

Phoenix-area bankruptcy filings jump 91% (The Arizona Republic) Signs of an economic recovery aren't showing up in the latest bankruptcy statistics. Phoenix-area filings jumped 91 percent in April compared with a year earlier, pushing above 2,000 a month for the first time since bankruptcy laws were changed in...

Glendale Responds To Coyotes Bankruptcy (KTAR) The city of Glendale has released a statement in response to the Phoenix Coyotes filing for bankruptcy. In the statement they said the decision of the Coyotes to initiate bankruptcy without consultation or approval of the NHL is an unfortunate event for the NHL...

Phoenix Coyotes File for Bankruptcy Court-Approved Sale (Business Wire) Dewey Ranch Hockey, LLC and its affiliates Arena Management Group, LLC, Coyotes Holdings, LLC and Coyotes Hockey, LLC (collectively “Coyotes”), owner of the National Hockey League (NHL) team the Phoenix Coyotes...

Chrysler OK'd to start auction process (MarketWatch) Chrysler LLC late Tuesday won approval from a federal judge that could allow the automaker, despite objections from some creditors, to move quickly toward a partnership with Fiat SpA and speed its trip through bankruptcy.

Crunch Fitness Files for Bankruptcy in New York (Bloomberg) Crunch Fitness, a gym operator with 73,000 members and clubs in six U.S. cities, filed for bankruptcy protection from creditors in New York, citing slowing membership and overpriced leases for some locations.

GMAC can avoid bankruptcy (Detroit Free Press) GMAC Financial Services said Tuesday that it will not be automatically forced to file for bankruptcy protection if General Motors Corp. is unable to restructure itself by its government-imposed deadline. Robert Hull, the company's chief financial officer, said that while a Chapter 11 filing...

The elephant in the room (The Windsor Star) Back in the days when socialism was still something people believed in, the most wild-eyed radicals had a vision: Someday, after the revolution, the "means of production," including the auto factories and the companies themselves...

Is Chrysler's Bankruptcy Cloud Becoming GM's Silver Lining? (Los Angeles Times) Chrysler's woes could turn out to be a blessing for General Motors Corp., paving a clearer path for the troubled company to avoid bankruptcy.

Madoff "Clawback": Trustee Seeks $150 Million (Reuters via The Huffington Post) The trustee liquidating Bernard Madoff's brokerage filed a lawsuit on Thursday seeking the return of $150 million that the firm transferred to an offshore investor in October, saying the money should be used to reimburse other customers...

SEC Seeks to Block Bid to Force Madoff Bankruptcy (Bloomberg) The U.S. Securities and Exchange Commission and Justice Department told a federal judge that Bernard Madoff need not be forced into personal bankruptcy to ensure that all his assets are used to pay those he stole from.

Bankruptcies Rose to Nearly 6000 a Day in March (New York Times) The ailing economy continues to pull more Americans into bankruptcy court, where the number of troubled consumers filing for protection soared in March to its highest level since October 2005, when a new law made it more arduous and expensive to file.

Down economy brings uptick in business: Bankruptcy lawyers (Seattle Times) A year ago, Lauren Ross had just four or five clients a month. Now she has that many every week. Her prosperity didn't come to an end with the recession. It took off.

How should you deal with the costs of declaring bankruptcy? (Chillicious) If your financial circumstances are bad enough, you may be considering bankruptcy as a way to solve your overwhelming credit card debt. However, many people are concerned about having to pay for the bankruptcy process...

What Does the New Bankruptcy Law Mean to You? (XiaoSaoBi) In difficult economic times, many people look to bankruptcy as a way to relieve their financial problems. However, many are not sure that bankruptcy is still available to them because of the recent changes in the bankruptcy law.

AIG Bonus Clawback Bill Meets Constitutional Resistance (FOXBusiness) Currently the bill HR 1586 sitting in the House Judiciary Committee, which could claw back executive’s bonuses using bankruptcy law, would be constitutional...

Madoff Liquidator Says $2.6 Billion Will Pay Victims of Fraud (Bloomberg) Lander’s theory: Under bankruptcy law, it may be easier to reach Madoff’s assets that have been transferred to his family or friends, he said...

Bankruptcy For AIG? (Forbes) A growing chorus is calling for putting the company down.

Bankruptcies (The Ledger) The following businesses or individuals filed bankruptcy petitions in the U.S. Bankruptcy court in Tampa from Jan. 5-21, 2009. Chapter 7 filings are for companies and/or individuals whose assets are being liquidated to pay creditors; Chapter 11 is for companies seeking to reorganize while under...

Progressive Gaming files for Chapter 7 bankruptcy (Las Vegas Sun) Casino supplier Progressive Gaming International Corp. of Las Vegas filed for a Chapter 7 bankruptcy liquidation this week. The company listed assets of $263,600 and liabilities of $5.62 million.

Baltimore Opera pursuing chapter 7, dissolution (AP via Yahoo! News) The Baltimore Opera Company's board of trustees has voted to seek Chapter 7 liquidation and sell off the 58-year-old company's assets.

Nortel May Pay Executive Bonuses During Bankruptcy (Bloomberg) Nortel Networks Corp., once the largest telephone-equipment maker in North America, won approval to pay eight senior executives as much as $7.3 million in bonuses while the company tries to reorganize during bankruptcy.

House OKs mortgage reductions in bankruptcies (Chicago Tribune) In an attempt to ease the foreclosure crisis, the House on Thursday approved a major change to bankruptcy law, giving judges new powers to modify home mortgages.

Jordan votes no on mortgage bill (The Lima News) U.S. Rep. Jim Jordan, R-Urbana, voted no this week on legislation allowing bankruptcy law to include home mortgages. H.R. 1106 gives bankruptcy courts the ability to alter contracts by reducing mortgage principal and adjusting interest rates.

Change to bankruptcy law passes House (The Morning Call) Proposal, which faces tough Senate fight, would allow judges to reduce principal on a mortgage for a primary residence. Proposal, which faces tough Senate fight, would allow judges to reduce principal on a mortgage for a primary residence.

House OKs court-approved mortgage relief (Los Angeles Times) The bill would allow bankruptcy judges to reduce principal amounts on loans for primary residences.

House approves mortgage bankruptcy overhaul (Reuters via Yahoo! News) Bankruptcy judges could cut the mortgage debt of homeowners in bankruptcy court as a last resort to avert foreclosure, under a bill approved by a 234-191 vote on Thursday in the U.S. House of Representatives.

House Passes Mortgage Bill With 'Cramdown' Provision (CQPolitics.com via Yahoo! News) The House dealt the financial industry a significant blow Thursday, passing and sending on to the Senate a bill that includes a provision to allow bankruptcy judges to modify the terms troubled homeowners' mortgages.

Letters: Bankruptcy law (Independent) Naming and shaming Sir Fred Goodwin is a waste of time; the band of ennobled kleptocrats with whom he socialises probably admire him for making off with so much cash.

Corporate/Company Law (Guner Law Office) The law governing Turkish Insolvency procedures known as the Execution and Bankruptcy Law (the EBL ) ( Icra Iflas Kanunu ) has in previous years been amended twice and has introduced new procedures for ailing companies.

Cranston RI Tax & Bankruptcy Law Firm Acorn Law Selects Palmer Web Design for New Site (Providence Business News) Summary: RI Web Design firm Palmer Management is selected for their astounding blend of functionality and style.

Lawsuit filed against Arizona foreclosure rescue operation (Phoenix Metro News) Arizona Attorney General Terry Goddard said Thursday that he has filed a lawsuit against an alleged foreclosure rescue operation believed to have defrauded approximately 400 Arizonans of their homes.

Bankruptcy lawyers see boom in business (The Telegraph) Bankruptcy filings in the federal court district that includes The Telegraph area increased by some 500 in 2008, compared to the previous year, but lawyers who work in the field are bracing for a further onslaught of clients.

Vital Statistics (The Columbus Dispatch) Bankruptcy filings in the federal court district that includes The Telegraph area increased by some 500 in 2008, compared to the previous year, but lawyers who work in the field are bracing for a further onslaught of clients.

Bankruptcy law may be modified (Chicago Tribune) Measure could give judges more power to modify primary home mortgages.

A GM bankruptcy would boost fees (Detroit Free Press) A General Motors Corp. bankruptcy might yield a $1.2-billion bonanza for bankers, accountants and lawyers, surpassing record fees being made by advisers on the collapse of Lehman Brothers Holdings Inc.

Bankruptcy filings climb in Washington (Seattle Times) Washington ranked second among the states, behind New Jersey, in the rate of growth in bankruptcy filings from December to January, according to AACER, an Oklahoma City-based bankruptcy data and management firm.

Metro Looking to Capitalize on Bankruptcy of Inquirer (KYW News Radio 1060) With the Inquirer and Daily News in bankruptcy, one competitor is trying to take advantage.

Saks Chief Offers Plan to Avoid Bankruptcy (New York Times) Ever since it began posting double-digit sales declines and selling luxury goods at 75 percent off, Saks has been accused by rivals of decimating the luxury market and suspected, even by allies, of being a candidate for bankruptcy.

N.H. law prof: Fix bankruptcy rules (Fosters) Peter Wright Courtesy photo Peter Wright of the Franklin Pierce Law Center in Concord is pushing for bankruptcy law changes that would benefit homeowners facing foreclosure.

Strapped couple opt for bankruptcy (Tulsa World) Danette Jones clutched her husband's hands outside the Tulsa courtroom while she dabbed away the tears. They were among a group of people waiting to meet their creditors in a bankruptcy hearing.

Bankruptcies on the rise in R.I. (Providence Business News) Business is booming for Christopher Lefebvre, a lawyer with Claude Lefebvre & Sons. About 80 percent of his 20-year-old practice in Pawtucket focuses on bankruptcies, and he is experiencing one of the busiest times ever.

CHAD Therapeutics files for Chapter 7 bankruptcy (Reuters) CHAD Therapeutics Inc , a California company that make devices for sleeping disorders under the name Dormio Tech, filed for Chapter 7 bankruptcy last month and has ceased operations, according to a regulatory filing Friday.

Prominent Builder Owes Millions (The Morning News) Lowell-based builder Aaron Nickell, updated his Chapter 7 bankruptcy filing this week in federal court. Nickell's completed schedules indicate liabilities totaling $11.48 million with assets worth $398,900.

Tech Firm BroadRamp Fails, Files Chapter 7 (Business Journal) BroadRamp Inc. has filed a voluntary Chapter 7 bankruptcy liquidation petition that shows the company’s liabilities eclipsing its assets tenfold in the face of a sharp decline in revenues.

Raleigh Contracting Firm Files Chapter 7 Bankruptcy (Wake) The Triangle Business Journal is reporting that Mammoth Grading, a private site contracting firm in Raleigh, has filed for Chapter 7 bankruptcy liquidation.

A Sign of the Times (Courier View) While the terminology Chapter 7, 11, 12, 13 refers to the cut-and-dried details, the emotional cost of bankruptcy can be traumatic.

Chapter 7 Bankruptcies Up In North Dakota (AP - Bismarck) New figures show Chapter 7 consumer bankruptcy filings in North Dakota increased 17 percent from 2007 to 2008. Last year's total was 1,188.

Charities Now Seek Bankruptcy Protection (The New York Times) The board of Glass Youth and Family Services in Los Angeles voted to file for bankruptcy protection, unable to overcome falling state reimbursements, rising costs and dwindling donations.

Calif. Home Builder Seeks Bankruptcy Protection (AP via Yahoo! News) California home builder John Laing Homes filed for bankruptcy protection, citing a weakening demand for new homes. WL Homes, which does business as John Laing Homes, filed Chapter 11 documents in U.S.

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