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

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Mega Brands Class Action Settlement Preliminarily Approved
Gifts & Decorative AccessoriesOctober 1, 2011

Defendants MEGA Brands Inc. et al. have denied any and all liability, but have agreed to settle claims for refunds on certain Magnet Toy products, which plaintiffs alleged contained defective magnets. The proposed settlement covers over 10 million MEGA ...more »

Turning overseas legal disputes into smart business
Smart Business NetworkOctober 1, 2011

Punitive damages are also not available in Germany and in most other civil law countries. And, perhaps most importantly, a good foreign forum may present excellent opportunities to seize the initiative from litigation opponents and knock them back on ...more »

Bankruptcy Law News and Stories

Bad Credit History
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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 »

Collections
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Friendly, Chef Solutions, WaMu, Madoff, NewPage: Bankruptcy
BusinessWeekOctober 5, 2011

The plan in substance pays creditors in the order of priority laid out in bankruptcy law. Remaining secured claims will be paid in full, according to the disclosure statement. The disclosure statement has blanks where the amounts of remaining secured ...more »

Chapter 11, Chapter 13 Bankruptcy
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McDonald Hopkins Law Firm Elects Four Members: Anne Owings Ford, Michael J ...
PR Newswire (press release)October 3, 2011

Jessica T. Lifshitz (West Palm Beach) practices law in the firm's Business Law Department. She is an experienced corporate attorney who specializes in real estate transactions, commercial finance and lending, and mergers and acquisitions. ...more »

Disputes With Irs
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10 Ways to Tap Your IRA Early Without Penalty
Business InsiderOctober 4, 2011

You must use an IRS-approved distribution method and take at least one distribution annually for this exception to apply. "You have to make sure that somebody calculates the right amount and that you take that exact amount every year," says Hosler. ...more »

Garnishment
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Guest column: Statute on debt payment a win-win
Green Bay Press GazetteOctober 7, 2011

This state statute originally was designed as an alternative to filing bankruptcy and to prevent or even stop wage garnishments for Wisconsin wage-earning residents who petition the courts to help them reschedule their debts. The rescheduling of debts ...more »

Chapter 7 Bankruptcy
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BUSINESS BUZZ: Local briefs about local businesses
Sarasota Herald-TribuneOctober 3, 2011

Sarasota Adult Day Center LLC, a Sarasota company managed by Donald C. Gursky, has filed for Chapter 7 bankruptcy protection, listing $27445 in assets and just over $1 million in debts. Also known as SarahCare, the company charges $70 ...more »

Personal Bankruptcy
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Sizing up the Supreme Court
The National Law JournalOctober 1, 2011

I happen to have been in Court the day that the bankruptcy case [Ransom v. FIA Card Services] came down and she delivered it as though she was talking to some friends about it and made it very accessible to people in the audience. ...more »

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