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

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Iconic for decades, time running out for Kodak
CNBC.comOctober 1, 2011

Concerns about the company's future boiled over on Friday, after it hired a law firm well-known for bankruptcy cases, sending its shares down 54 percent to 78 cents per share. Although Kodak said it has "no intention" of filing for bankruptcy, ...more »

Many of state's Friendly's franchises won't be hurt by bankruptcy
Danbury News TimesOctober 1, 2011

While unlikely to threaten their ice cream places, customers and business experts saw the potential bankruptcy as an indication of the economy's state. "You'd think a place like this would be OK with its moderate prices," Furrer said. ...more »

Bankruptcy Law News and Stories

Bad Credit History
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Deals of the Day: Could Alibaba Win Yahoo?
Wall Street Journal (blog)October 3, 2011

[WSJ] BofA: Kathy Patrick, the lawyer who helped craft a proposed $8.5 billion settlement with Bank of America over soured mortgages, told Blackrock and other big clients to oppose a more aggressive pact put for by a rival attorney. ...more »

Collections
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Revenue generation: Existing income tax laws need simplification
The Express TribuneOctober 2, 2011

By PPI ISLAMABAD: The Pakistan Economy Watch (PEW) on Sunday said that existing income tax laws have failed to deliver therefore the country needs new and simple income tax law that are easily comprehensible, business friendly, fair and acceptable to ...more »

Chapter 11, Chapter 13 Bankruptcy
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End of an era? Moo & Oink stores now closed, in bankruptcy
Chicago Sun-TimesOctober 1, 2011

All four Moo & Oink stores are shuttered, 200 employees are out of work with no severance and a judge on Friday placed the company in Chapter 7 bankruptcy. ...more »

Disputes With Irs
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IRS lets employers come clean on contractor payroll taxes
The News JournalOctober 3, 2011

The Internal Revenue Service is giving companies that have been misclassifying employees as independent contractors a chance to pay a fraction of back taxes to avoid interest, penalties and audits for previous years. Under the program announced this ...more »

Garnishment
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Wisconsin's 'Website of Shame' prompts tax payback
Herald Times ReporterOctober 16, 2011

"The website is one tool we can use, but we also take legal action including tax warrants, which are tax liens, wage garnishment, intercepting tax refunds and lawsuits," Marquis said. She said the department sends a letter to taxpayers letting them ...more »

Chapter 7 Bankruptcy
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Kodak Retirees Worry About Healthcare
13WHAM-TVOctober 4, 2011

The Eastman Kodak Retirees Association planned the forum before reports that the company is considering bankruptcy. In the last couple weeks, Kodak has drawn down its credit line, seen its credit rating slashed and hired a law firm known for ...more »

Personal Bankruptcy
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Camera maker Kodak weighs bankruptcy option to push patents sale
Economic TimesOctober 2, 2011

A bankruptcy filing may help clear the way for a patent sale, said the people. The sale could fetch about $3 billion, MDB Capital Group estimates. Kodak also has discussed its options with law firm Kirkland & Ellis, the people said. ...more »

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