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Bankruptcy Law News

• Bankruptcy hearing is a fact-finding meeting before a court trustee
  After a bankruptcy has been filed, a hearing in U.S. Bankruptcy Court called the 341 meeting - named for a section of the bankruptcy code - is scheduled so that creditors may attend and question individuals about the debts they owe.   Read More . . .
  
  
  
• Bankruptcy cases can be amended to allow for additional debts
  People who have decided to file bankruptcy often are confused about what debts can or cannot be included in their petition to the U.S. Bankruptcy Court.   Read More . . .
  
  
  
• Wage garnishment on unsecured debts can be stopped by bankruptcy filing
  Wage garnishment is allowed on long-term debt only by court order, but in most cases, it can be stopped once an individual files for bankrupty.   Read More . . .
  
  
  
• Bankruptcy filing doesn't take away right to receive Social Security payments
  Older Americans who are in financial straits may be wary of filing bankruptcy because they believe they will have to give up their Social Security benefits.   Read More . . .
  
  
  
• Bankruptcy can affect credit rating for many years after case is filed
  The effects of bankruptcy don't end when the U.S. Bankruptcy Court has made a ruling on an individual or company's bankruptcy case.   Read More . . .
  
  
  
• Understanding 'secured' or 'unsecured' debt is important in bankrupty planning
  Knowing the difference between "secured" debt and "unsecured" debt can help people who are considering filing for bankruptcy to understand how a bankruptcy court will handle their property and money that is owed on it.   Read More . . .
  
  
  
• Filing for bankruptcy has 'automatic stay' to stop bill collectors' telephone calls
  For many people who find themselves deeply in debt, one of the worst experiences they can have is the barrage of telephone calls from bill collectors. While no one has the right to be abusive to debtors or to harass them incessantly, there are guidelines that govern such calls.   Read More . . .
  
  
  
• Bankruptcy can dismiss debts, or help debtors reorganize their finances
  In the simplest terms, bankruptcy occurs when an individual or a business can no longer afford to pay their bills and may ask the courts to dismiss their obligation to pay their debts.   Read More . . .
  
  
  
• Iowa residents battle bankruptcy problems
  Residents of Iowa are currently trying to deal with debt, just like the rest of the United States, but before anyone is resigned to bankruptcy, they need to visit a credit counselor.   Read More . . .
  
  
  
• Former Chicago Bear had filed for bankruptcy
  Dave Duerson, a former NFL safety for the Chicago Bears who committed suicide earlier this month, filed for personal bankruptcy last September.   Read More . . .
  
  
  
• Bankruptcy claims trading declines to 18 month low
  Due in part to declines in the number of large businesses filing for court protection from creditors, the number of bankruptcy claims traded in January dropped to the lowest level observed since July 2009.   Read More . . .
  
  
  
• Utah bankruptcy filings rise
  Nearly 18,000 residents in Utah filed for personal bankruptcy in 2010, bringing the state up to No. 9 in the national rankings among states with the highest number of protective filings per capita.   Read More . . .
  
  
  
• Celebrity investment company files for Chapter 7 bankruptcy
  Less than one year after its founder Kenneth Starr pleaded guilty to fraudulently acquiring millions of dollars from Hollywood investors, Starr and Company and Starr Investment Advisors announced they filed for Chapter 7 bankruptcy.   Read More . . .
  
  
  
• Virginia concrete systems company files for bankruptcy
  Xteriors, a Hanover County, Virginia-based manufacturer of engineered concrete systems, such as retaining walls, curbs and decorative slabs, filed for Chapter 11 bankruptcy this week.   Read More . . .
  
  
  
• Bankruptcy claims trading increases in 2010
  After bankruptcies boomed in the years following the economic downturn, 2010 represented a leveling off as the number of corporate filings fell nationally.   Read More . . .
  
  
  
• Bankruptcy attorney says debt settlement may now be easier
  Due to the recent escalations in the annual rate of bankruptcy filings, more companies are willing to work with consumers to settle their debts out of court, a Honolulu bankruptcy attorney says.   Read More . . .
  
  
  
• Buying from bankruptcy businesses may be good investment
  While purchasing the assets of a bankrupt company sounds risky, some experts say those who do this may be privy to the best investments.   Read More . . .
  
  
  
• North Coast California bankruptcies hit record highs
  While many parts of the country are seeing decreases in the amount bankruptcy filings, Western states are still struggling due to high rates of unemployment and foreclosure.   Read More . . .
  
  
  
• New bankruptcy cases fall in Hawaii
  The number of Hawaii residents seeking bankruptcy protection fell during the first month of the new year, indicating the state may soon be in for a financial turnaround.   Read More . . .
  
  
  
• Webinar highlights ways to grow a bankruptcy law practice
  Research and Markets unveiled it is releasing a new audioconference entitled "The Best Ways to Grow Your Bankruptcy Law Practice in 2011."   Read More . . .
  
  
  
• Small business bankruptcies jump in California
  Due in part to the lingering effects of the recent economic downturn, small business bankruptcies have been increasingly common in large California metropolitan areas such as San Bernardino and Los Angeles.   Read More . . .
  
  
  
• Personal, business bankruptcy filings rise in Virginia area
  Due to mounting mortgage debt and decreasing income, more Hampton Roads, Virginia, consumers filed for Chapter 7 and 13 bankruptcies in 2010.   Read More . . .
  
  
  
• Pennsylvania county sees bankruptcy increase
  Bankruptcy filings in Lackawanna County, Pennsylvania, rose nearly 16 percent during 2010, more than double the national rate.   Read More . . .
  
  
  
• Utah personal bankruptcy filings rise in 2010
  Residents of the Beehive State continued to go into bankruptcy at an increased rate in 2010, helping push filing figures to their highest point in five years.   Read More . . .
  
  
  
• Eva Longoria's Las Vegas nightclub files for Chapter 11
  A Las Vegas, Nevada, nightclub owned by Desperate Housewives actress Eva Longoria filed for bankruptcy this week.   Read More . . .
  
  
  
• Detroit schools rule out Chapter 9 bankruptcy
  Since the recession many state budgets have been suffering as a result of decreased resources and revenue, a problem which has hindered school systems around the country.   Read More . . .
  
  
  
• Las Vegas retail center's owners seek bankruptcy
  Three entities that own the Cimarron Square center in Mountain's Edge, Nevada, an area just outside of Las Vegas, filed for Chapter 11 reorganization in court this week.   Read More . . .
  
  
  
• Rhode Island town faces potential bankruptcy
  Central Falls, Rhode Island is currently facing a fiscal crisis in the form of more than $25 million in budget deficits.   Read More . . .
  
  
  
• Lighthouse Financial files for bankruptcy protection
  Former securities brokerage, Lighthouse Financial Group filed for Chapter 11 bankruptcy this week.   Read More . . .
  
  
  
• Personal bankruptcy filings slow nationally
  The recent surge in Chapter 7 and Chapter 13 bankruptcy filings slowed in November, but remained at near post-recession highs.   Read More . . .
  
  
  
• Small business bankruptcies see nationwide decline
  Bankruptcy rates still remain high across the country; however, a new report indicates the number of small-business seeking protection has declined in most metropolitan areas.   Read More . . .
  
  
  
• Palm Harbor Homes seeks Chapter 11
  Addison, Texas-based Palm Harbor Homes, a leading developer of manufactured housing, filed for Chapter 11 bankruptcy this week.   Read More . . .
  
  
  
• Yellow page publisher files for bankruptcy
  Local Insight, the fifth-largest U.S. publisher of yellow pages directories, filed for bankruptcy on Thursday.   Read More . . .
  
  
  
• Moe and Johnny's seeks bankruptcy protection
  The owner of a popular Indianapolis, Indiana, bar is seeking Chapter 11 protection in order to help clear debts.   Read More . . .
  
  
  
• Trico seeks lawsuit against a bankruptcy lender
  Trico Marine Services has asked a Wilmington, Delaware, judge to prevent one of its bankruptcy lenders from interfering with a proposed sale.   Read More . . .
  
  
  
• Senator Dodd calls for new bankruptcy law
  Senator Christopher Dodd, co-author of the Dodd-Frank Act, which was crafted in response to the financial meltdown of Lehman Brothers in 2008, believes that more must be done to prevent bankruptcies.   Read More . . .
  
  
  
• Fish farm files for Chapter 11 bankruptcy
  Hawaii's oldest fish farm, Grove Farm Fish and Poi, a partner of Hukilau Foods, filed for bankruptcy on Wednesday.   Read More . . .
  
  
  
• Airline files for Chapter 11 bankruptcy
  Gulfstream International Group filed for voluntary bankruptcy restructuring in a south Florida Bankruptcy Court on Wednesday.   Read More . . .
  
  
  
• Hawaii communications company emerges from bankrtupcy
  Hawaiian Telcom Communications, Hawaii's largest telephone service provider, announced that it has emerged from Chapter 11 bankruptcy after two-years of reorganization.   Read More . . .
  
  
  
• Tabloid publisher set to file for Chapter 11
  American Media, publisher of tabloids like the Pulitzer-prize nominated National Enquirer and Shape, announced this week that it is planning to enter prepackaged bankruptcy.   Read More . . .
  
  
  
• Gas City files for bankruptcy
  Gas City, an independent chain of fuel stations and convenience stores, with operations in Indiana, Illinois, Florida and Arizona, filed for Chapter 11 in a bankruptcy court in Chicago this week.   Read More . . .
  
  
  
• Corporate jet company files for bankruptcy
  Emivest Aerospace Corp., a company that manufactures corporate jets in West Virginia and Texas has filed for Chapter 11 protection.   Read More . . .
  
  
  
• Awal Bank files for Chapter 11 in U.S.
  Awal Bank, a Saudi Arabian owned lender, filed for Chapter 11 bankruptcy in a court this week in New York.   Read More . . .
  
  
  
• Washington Times faces bankruptcy
  The Washington Times is facing an involuntary bankruptcy due to a recent court filing.   Read More . . .
  
  
  
• Lehman bankruptcy case could change law
  The Lehman Brothers bankruptcy case broke the $1 billion expense mark last week, and it may also set some new legal precedents as the law debates its 2008 sale to Barclays.   Read More . . .
  
  
  
• Real estate investor files for bankruptcy
  Real estate investment firm Petra Fund REIT Corp. filed for Chapter 11 bankruptcy this week, citing $500 million in liabilities.   Read More . . .
  
  
  
• US Fidelis bankruptcy plan receives setback
  Missouri's attorney general is challenging a settlement proposal in the bankruptcy case of US Fidelis, the nation's top marketer of auto-service contracts.   Read More . . .
  
  
  
• Not quite the desired effect - Five Years after BAPCPA Chapter 7 still makes up the largest percentage of bankruptcy cases.
  Analyzing the Results of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) at the 5 Year Anniversary shows some of the desired effects haven't come to be. Changes made to bankruptcy law in the United States were supposed to result in fewer people filing Chapter 7 bankruptcy cases and wiping out all their unsecured debt. Economic conditions have made those changes moot when discussing the number and type of bankruptcy cases filed in the United States today.   Read More . . .
  
  
  
• Historic San Jose property files for Chapter 11
  A commercial property owner in San Jose has filed for Chapter 11 bankruptcy protection, a move that has stalled the foreclosure of one of the area's historic buildings.   Read More . . .
  
  
  
• Blockbuster to keep doors open
  After filing for Chapter 11 bankruptcy last month, Blockbuster announced that it plans to keep its 3,000 stores open during refinancing.   Read More . . .
  
  
  
• Pennsylvania's capital ponders bankruptcy filing
  The Harrisburg city council is looking for bankruptcy advice, openly soliciting attorneys, as it plots the decision to enroll in the state's distressed cities program.   Read More . . .
  
  
  
• Extended Stay Hotels exit Chapter 11
  Extended Stay Inc. has emerged from Chapter 11 bankruptcy protection after an investment group which included Blackstone Group, Paulson and Co. and Centerbridge Partners purchased the company for $3.9 billion dollars.   Read More . . .
  
  
  
• Resort founder fights bankruptcy
  Two years after the start of a bankruptcy probe into Montana's Yellowstone Club, a millionaires-only private ski and golf resort, authorities launched a formal investigation into one of the resort's founders, Tim Blixseth.   Read More . . .
  
  
  
• Government seizes estate in bankruptcy battle
  A bankruptcy judge ordered that a popular tourist site in North Carolina be seized by the government.   Read More . . .
  
  
  
• Bear Island auction winner to be decided
  The bankruptcy case of a major paper company that operates in two countries may soon be resolved.   Read More . . .
  
  
  
• Visteon earns bankruptcy exit
  A major auto parts maker won approval to settle a dispute with Ford Motor Company and in doing so will be able to exit bankruptcy.   Read More . . .
  
  
  
• Hawaiian Telecom may come out of bankruptcy soon
  The largest telephone company in Hawaii is expected to emerge from bankruptcy within a few weeks.   Read More . . .
  
  
  
• Resort's bankruptcy plan may soon be approved
  A federal judge said he would allow creditors to vote on the bankruptcy plan for a large popular resort that is deep in debt.   Read More . . .
  
  
  
• Orange County bankruptcies climb nearly 20 percent
  Consumers in Southern California have been hit particularly hard by the ongoing economic trouble, and more filed for bankruptcy in August.   Read More . . .
  
  
  
• Western Texas bankruptcies fell in August
  This year, more consumers may have had a better time dealing with their debts in August in Western Texas.   Read More . . .
  
  
  
• Tribune creditors push own bankruptcy exit plan
  As a media conglomerate's bankruptcy case slowed to a crawl thanks to more legal snags, two creditors came forward to help it find a way out.   Read More . . .
  
  
  
• Tribune creditors will sue shareholders, former owner
  The contentious bankruptcy case of multimedia conglomerate Tribune Co. may soon get litigious as well.   Read More . . .
  
  
  
• Leisure airline cleared for bankruptcy exit
  An airline that specializes in pleasure flights received approval to emerge from bankruptcy.   Read More . . .
  
  
  
• Former asbestos maker denied bankruptcy exit
  A unit of Pfizer that used to manufacture asbestos was denied permission to exit bankruptcy.   Read More . . .
  
  
  
• Real estate firm's bankruptcy case thrown out of bankruptcy court
  A giant real estate company was recently ordered to quickly exit bankruptcy because it was using the process to keep a shareholder from taking it over.   Read More . . .
  
  
  
• Football helmet manufacturer files bankruptcy
  Schutt Sports, one of the largest football helmet manufacturers in the world, has filed for bankruptcy.   Read More . . .
  
  
  
• Lawyers feel bankruptcy's downturn
  While the national rates of bankruptcy are still higher than normal, the number of cases is slowly starting to come down. Lawyers who specialize in this type of case have certainly noticed.   Read More . . .
  
  
  
• BP bankruptcy would offer no protection from liability
  While British Petroleum recently tried to scuttle rumors that it would be forced to file for bankruptcy in the wake of the oil spill it caused in the Gulf of Mexico, the whispers persist as lawmakers push hard for liability payments.   Read More . . .
  
  
  
• High unemployment rates may make bankruptcy filings unnecessary
  The recession has led to a number of bankruptcy filings since 2008. However, bankruptcy attorneys are noticing the effects of high unemployment rates on the number of cases.
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These articles are all written by BankruptcyHome.com's great editors and contributors. If you would like to write articles for BankruptcyHome.com, please email editor[at]bankruptcyhome.com.

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