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

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AFL-CIO Providing $134M for Penn South's Rehabilitation
Citybizlist Real EstateSeptember 1, 2011

The union's pension capital will be used to renovated the 10-building complex and create 610 union construction jobs in the process. Wells Fargo has partnered with the union on the loan. "Our investment is helping sustain a vital urban community that ...more »

Florida Bar levies punishment on Trinity attorney for employee's actions
Tampabay.comSeptember 1, 2011

All three clients met with Perez, believed him to be an attorney and decided to hire the firm, according to the Florida Bar. Perez advised one woman to max out her credit cards before filing for bankruptcy; he told a man facing foreclosure to send his ...more »

Bankruptcy Law News and Stories

Bad Credit History
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Saab Files for Bankruptcy Protection
Wall Street JournalSeptember 7, 2011

Hans Elliot, senior associate at law firm Glimstedt, said it could take some "pedagogic effort" to convince the court to approve the application as the company's track record includes a previous reorganization. "Mildly put, this is no plus," he said. ...more »

Collections
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Madoff Trustee Defends $19B JPMorgan Suit
BloombergSeptember 2, 2011

Picard, who appealed the ruling, said bankruptcy law gives him the powers necessary to bring his suit. “The bankruptcy code allows the trustee to stand in the shoes of a judgment creditor and assert common-law claims against JPMC,” he said in a court ...more »

Chapter 11, Chapter 13 Bankruptcy
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No End In Sight To Obama's Job-Killing Policies
ForbesSeptember 6, 2011

Companies prefer to create jobs in Europe or Asia “for fear of getting lost in a FDA quagmire, a money pit that has driven many small companies to bankruptcy,” according to Kenneth S. Abramowitz, a managing general partner at NGN Capital. ...more »

Disputes With Irs
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Cheating IRS deposits man in federal prison
Blue Springs ExaminerSeptember 1, 2011

He then had the IRS direct deposit the refunds in bank accounts that he controlled. In some cases, he gave part of the refund to the actual taxpayer, in other cases, he kept the entire amount. He was sentenced by Judge Scott O. Wright to serve the ...more »

Garnishment
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Cosigning Bad Credit Auto Loans
Auto Credit Express (blog)September 11, 2011

In addition to the primary borrower, both co-signers and co-buyers can be subject to collection action, including wage garnishment, if the loan goes into default. 4. During the application process, the lender will review the credit reports of both ...more »

Chapter 7 Bankruptcy
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Marriott Blasts Hawaii Hotel Owner's Bankruptcy Filing
Wall Street JournalSeptember 1, 2011

The international hotel company called the move self-destructive but said it will respect the law, which prevents the company from filing any countersuits during bankruptcy proceedings. "We will vigorously pursue tens of millions of dollars of claims ...more »

Personal Bankruptcy
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Lenny Dykstra Pleads Not Guilty to Indecent Exposure
FOX43.comSeptember 7, 2011

Dykstra was indicted in May on bankruptcy fraud for allegedly selling items from his $18 million mansion in Ventura County, a federal prosecutor said. In that case, Dykstra was charged with 13 counts: bankruptcy fraud, obstruction of justice, ...more »

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