Bankruptcy Law News. Crime Stories, Law on News and Legal Publications in December, 2011

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Mortgages paid down by record £9bn in quarter
The IndependentDecember 1, 2011

It was the highest negative figure since comparable records began in 1970 and means the total amount owed on mortgages has fallen by £92.9bn since the height of the credit crunch. Homeowners spent the equivalent of 3.5 per cent of their take-home pay ...more »

EPA proposes stricter rules for ship ballast water
Wall Street JournalDecember 1, 2011

The EPA's draft permit lays out rules similar to those recommended by the International Maritime Organization in 2004, which shipping industry groups have said are achievable. But environmental groups and some states contend those standards are ...more »

Bankruptcy Law News and Stories

Bad Credit History
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Blame Jimmy Carter for American Airlines' Bankruptcy. Or Better Yet, Thank Him
Slate MagazineDecember 1, 2011

Carter signed the Airline Deregulation Act into law in 1978 and the federal regulatory apparatus wound down over the next six years. Looking back on the legacy of deregulation in January of this year, Breyer observed that “airline revenue per passenger ...more »

Collections
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Govt rushes decision on airport fees
Business TodayDecember 2, 2011

The government showed undue haste in implementing the Airports Authority of India (Major Airports) Development Fees Rules, 2011, which allows levy of development fee. The Opposition parties argued that the decision to allow collection of user fee at ...more »

Chapter 11, Chapter 13 Bankruptcy
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AMR bankruptcy likely to make its stock soon be worthless
Tulsa WorldDecember 1, 2011

In most cases, following the bankruptcy filing of a publicly traded company, shareholders find their stock worthless, says the American Bar Association. A Chapter 11 bankruptcy is filed to permit a business to continue operating, reorganize its ...more »

Disputes With Irs
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Paying for a Jobs Bill by Cutting Federal Jobs?
Huffington PostDecember 4, 2011

The Senate Republican proposal would finance a $120 billion extension of the existing two percentage point payroll tax cut, which would leave the GDP accounts unchanged relative to current budget policy, with $231 billion in spending cuts. ...more »

Garnishment
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Utility non-payers costing city $38K annually
Bandon Western WorldDecember 29, 2011

The agency tries to determine a customer's new address or workplace in order to collect, pursues the bad debt through small claims court to obtain a wage garnishment order, and reports the names of all customers with bad debts to all of the major ...more »

Chapter 7 Bankruptcy
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Attorney Generals office cites Boston Apparel consumer complaints
Taunton Daily GazetteDecember 1, 2011

BAG filed for Chapter 7 bankruptcy protection from creditors last summer, which eventually was converted to Chapter 11 protection. In September, its corporate moniker, Women's Apparel Group LLC, sold all BAG assets to Distinctive Apparel Inc., ...more »

Personal Bankruptcy
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Money Managers Make Their Distress Your Problem: Susan Antilla
BusinessWeekDecember 1, 2011

No matter the state of the economy or the stock market, it's in your interest to find out if your financial expert has liens, big loans from an employer or a history of bankruptcy. When bad times hit, you forsake that sort of investigating at your ...more »

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