Bad Credit History. Legal news and articles for February 29 - 29, 2012

Petitions Imperil Michigan Emergency-Manager LawNo-fault insurance fraud scheme, which allegedly included 2 Staten Island docs ...Why Muni Investors Aren't Sweating Over StocktonStockton, Calif. on Brink of BankruptcyLet history be our guideStockton mediation first case under new Calif. lawJury deliberating in bus stop murder caseRules for the post-MF Global futures industryYorktown highway chief sued, allegations he enriched himself, friends and ...Stockton mediation tests new Calif. law, which was pushed by public unions to ...Stockton mediation first case under new Calif. lawState Supreme Court upholds Jack Sterling convictionAmerican Air pension battle may spreadEuropean Banks Flock to 2nd Round of Cheap LoansStockton could become biggest city to go bankrupt

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Not 'Desperate' for cash: Obama lists his big fundraisers
msnbc.comFebruary 1, 2012

One of the president's top bundlers, former New Jersey governor Jon Corzine, recently caused embarrassment for the campaign when his investment firm, MF Global, filed for bankruptcy, triggering an FBI investigation into whether its clients' money had ...more »

AMR Poised to Start Labor Talks With 10000 Job Cuts Possible
BusinessWeekFebruary 1, 2012

s American Airlines is preparing to offer union employees contracts today that probably will eliminate more than 10 percent of jobs and freeze pensions as the third-largest US carrier pares spending in bankruptcy. As many as 15000 jobs may be cut, ...more »

Bad Credit History. News and Stories

Petitions Imperil Michigan Emergency-Manager Law
Wall Street JournalFebruary 29, 2012

Backers of the law, which passed the GOP-controlled legislature last year, described it as a way to spur cash-strapped municipalities to tackle labor costs and avoid bankruptcy. But many Democrats argued that the sweeping powers afforded to ...more »

No-fault insurance fraud scheme, which allegedly included 2 Staten Island docs ...
SILive.comFebruary 29, 2012

By John M. Annese Preet Bharara, the United States Attorney for the Southern District of New York, announces the arrests during a press conference live streamed on his website. STATEN ISLAND, NY -- Federal prosecutors are calling this afternoon's ...more »

Why Muni Investors Aren't Sweating Over Stockton
BusinessWeekFebruary 29, 2012

Last night Stockton's city council voted to skip $2 million in bond payments and, signaling more gloomy news to come, to begin negotiating with creditors as it tries to avert bankruptcy. The city, saddled with high crime and a foreclosure rate second ...more »

Stockton, Calif. on Brink of Bankruptcy
Citrus DailyFebruary 29, 2012

The city of Stockton, California has one of the highest crime and unemployment rates. Officials say it's on the brink of insolvency and could become the nation's largest city to fall into Chapter 9 bankruptcy protection. (Feb. 29) Citrus County's port ...more »

Let history be our guide
Hornell Evening TribuneFebruary 29, 2012

By Norah Flanagan Our forefathers who wrote our Constitution were smart men, they understood human nature and they knew their history. They knew that for centuries merry old Europe had been plagued, tormented and even held hostage by the church, ...more »

Stockton mediation first case under new Calif. law
Daily CometFebruary 29, 2012

Beleaguered Stockton is the first California city to test a new union-backed law aimed at protecting public employee contracts by making it harder for municipalities to file bankruptcy. Stockton is trying to avoid becoming the most populous US city in ...more »

Jury deliberating in bus stop murder case
Austin American-Statesman (blog)February 29, 2012

The impact severed Brooks' spinal cord and almost cut his leg off, Assistant District Attorney Brandon Grunewald said. “He got hit so hard it launched him into a tree,” Grunewald said during closing arguments in the murder trial of the man accused of ...more »

Rules for the post-MF Global futures industry
CattleNetwork.comFebruary 29, 2012

The Commodity Customer Coalition will ask Congress to force futures brokers to remain legally separate from broker dealer affiliates to make bankruptcies less complicated for futures customers. Change bankruptcy law: Some futures advocates argue that ...more »

Yorktown highway chief sued, allegations he enriched himself, friends and ...
The Journal News | LoHud.comFebruary 29, 2012

“New York law provides a sliver of rights for the local taxpayer, and Mr. LaPierre is going to take advantage of that opportunity to do what the town and its gutless officials would not do,” said LaPirre's attorney, David O. Wright of Shrub Oak.more »

Stockton mediation tests new Calif. law, which was pushed by public unions to ...
The RepublicFebruary 29, 2012

Stockton is testing a new state law after the City Council agreed to use a mediator before seeking bankruptcy protection. The river port city 50 miles south of the state capital is trying to avoid becoming the most populous US city in modern times to ...more »

Stockton mediation first case under new Calif. law
San Jose Mercury NewsFebruary 29, 2012

Stockton is testing a new state law after the City Council agreed to use a mediator before seeking bankruptcy protection. The river port city 50 miles south of the state capital is trying to avoid becoming the most populous US city in modern times to ...more »

State Supreme Court upholds Jack Sterling conviction
Greenville NewsFebruary 29, 2012

The jury acquitted Sterling of making false or misleading statements to the state Securities Division and of criminal conspiracy. A bankruptcy trustee returned about 18 cents on the dollar to investors through the sale of assets, settlement of a civil ...more »

American Air pension battle may spread
ReutersFebruary 29, 2012

He claims that the law saved American Airlines $1 billion -- that has gone straight into its "bankruptcy war chest" -- and that it constitutes 25 percent of the $4 billion in cash on hand at the company. "The pension relief was very important to ...more »

European Banks Flock to 2nd Round of Cheap Loans
New York TimesFebruary 29, 2012

FRANKFURT — In a closely watched display of its firepower, the European Central Bank on Wednesday allocated to euro zone banks another huge round of the cheap, three-year loans that have helped avert a banking crisis but have not yet revived lending...more »

Stockton could become biggest city to go bankrupt
Fresno Business JournalFebruary 29, 2012

(AP) — The city of Stockton in California's crop-abundant Central Valley has the second-highest foreclosure rate in the nation and one of the highest crime and unemployment rates. It was named America's most miserable city in a national magazine ...more »

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