Posts in category

Economic cost


March 17, 2022 – The Croatian financial system is well protected against the increasingly likely scenario of total Russian bankruptcy following harsh global sanctions imposed on it after its unwarranted shock invasion of neighboring Ukraine. As Poslovniy Dnevnik/Tomislav Pili writes, the Russian bankruptcy, which is increasingly likely to happen soon, will not be felt by …

REUTERS/Dado Ruvic/Illustration Join now for FREE unlimited access to Reuters.com Register Summary Law firms Related documents Bankrupt Vermont hospital not eligible for pandemic aid, court rules Grants, not loans, protected by bankruptcy law (Reuters) – The Small Business Administration was within its rights to deny pandemic aid to a nonprofit hospital on the basis that …

US Bankruptcy Court By: Mass. Lawyers Weekly Staff March 16, 2022 Where a debtor has failed to comply with an administrative order requiring it to pay restitution to consumers, the debt is not exempt from discharge under 11 USC §523(a)(7), because the The debtor’s obligation of restitution is not “payable to and for the benefit …

The Supreme Court recently denied certiorari in Picard versus Citibank, in which the petitioner sought review of a Second Circuit decision on a seemingly obscure point of law: the burden of pleading “good faith” under Section 550 of the Bankruptcy Code. The Second Circuit decision is part of and highlights a larger systemic problem in …

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For both debtors and creditors, numbers are important in bankruptcy proceedings. The United States Judicial Conference has announced that certain dollar amounts and dollar limits in the United States Bankruptcy Code will increase effective April 1, 2022. Adjustments must occur every three years in accordance with 11 USC §104. The new dollar amounts reflect an …

Philadelphia, Pennsylvania – Filing for bankruptcy in Pennsylvania is not always the best option because bankruptcy law is complicated, depending on an individual’s income, debt, assets, and other factors. The attorneys at Cibik Law, PC understand the stress of filing for bankruptcy, which is why Michael A. Cibik and his team of legal professionals strive …

Date hour March 16, 2022 8:28:06 PM Big title Notification of the progress of the bankruptcy file (the third file) Full Detailed News Warning This announcement has been prepared and disseminated by a listed company or issuer through the electronic system provided for the purpose of dissemination of information and related materials of the listed …

Full-service storage company Closetbox Inc. has filed for Chapter 7 bankruptcy. According to documents filed Friday with the U.S. Bankruptcy Court for the District of Colorado, the company has liabilities of $650,546 and assets of $32. $247. Closetbox, which was founded in 2014, tried to stand out in the storage industry as a full-service company …

A LATAM Airlines plane carrying cargo in Montevideo, Uruguay February 25, 2021. REUTERS/Mariana Greif Join now for FREE unlimited access to Reuters.com Register Summary Law firms Related documents Opponents called the fees unreasonably high The judge finds the fees reasonable given the financing risk LATAM Airlines Group SA on Tuesday won court approval of a …

ALBANY – The owner of the central warehouse is heading back to bankruptcy court to try again to keep the huge property. Evan Blum’s company, The Phoenix of Albany LLC, filed for Chapter 11 bankruptcy in U.S. Bankruptcy Court in New York hours before the Albany County Legislature unanimously approved on Monday a resolution authorizing …

DOVER, Del. (AP) — More than two years after the Boy Scouts of America filed for bankruptcy protection amid a spate of child sex abuse allegations, a judge will determine whether to confirm its proposed reorganization plan in a trial beginning Monday. The trial in U.S. bankruptcy court in Delaware is expected to drag on …

This entry is part of Nelson Mullins’ Bankruptcy Basics ongoing blog series which aims to address the fundamentals of bankruptcy for practitioners and non-bankruptcy professionals. This entry will explain the concepts of bankruptcy “estate” and “estate ownership” and their importance. When a debtor files for bankruptcy, the bankruptcy “mass” is immediately constituted. It consists of …

How to get out of student loan debt Getty Images/iStockphoto Question: I’m about to turn 65 and eligible for Medicare. I have a bachelor’s degree in corporate and organizational communication and an associate’s degree in marketing and sales technology. I was 40 when I graduated. My younger classmates got great jobs. I went bankrupt and …

Those suing Johnson & Johnson, claiming talc-based baby powder caused their cancer, have once again been frustrated. After splitting into two companies, Johnson & Johnson’s subsidiary, LTL Management, can file for bankruptcy. Under a Texas law, commonly referred to as “Texas Two-Step”, Johnson & Johnson spun off the business and created LTL management. After its …

SAN JUAN, Puerto Rico — Puerto Rico’s government officially emerged from bankruptcy on Tuesday, completing the largest public debt restructuring in U.S. history after announcing nearly seven years ago that it was unable to repay its debt of more than 70 billion dollars. The exit means the U.S. territory government will resume payments to bondholders …

American Apparel Founder Dov Charney Files for Chapter 11 Bankruptcy – Sourcing Journal Facebook pinterest Search icon SourcingJournal_horiz Glass Twitter Shape camera graph-trend logo Shape icon / user You will be redirected to your article in seconds March 15, 2022 7:47 a.m. ET In a duel that never seems to end, Dov Charney is locked …

David Aviram of Maverick Real Estate Partners (Maverick Real Estate Partners, LoopNet, Apartments.com, iStock/Photo Illustration by Steven Dilakian for The Real Deal) The grueling three-year battle between Brooklyn landlord Chaskiel Strulovitch and lender Maverick Real Estate Partners is coming to an end. After putting 31 of his Brooklyn apartment buildings into Chapter 11 bankruptcy in …

Press Releases 03/09/2022 Attorney General Tong’s Statement on Bankruptcy Court Approval of Purdue Pharma Settlement (Hartford, CT) – Attorney General William Tong released the following statement after U.S. Bankruptcy Judge Robert Drain approved Purdue’s $6 billion bankruptcy plan. “No settlement will ever come close to remedying the extent of the suffering and damage caused by …