Bernard Madoff, 73, was arrested by Federal Bureau of Investigation agents on Dec 11, 2008, and his firm was forced into bankruptcy. He pleaded guilty and is serving a 150-year sentence in a federal prison in North Carolina. In describing the family's ...more »
Since then, FirstPlus has filed for bankruptcy, blaming the alleged criminals for wrecking the firm. Fishman said the alleged conspirators were planning one more “piece de resistance:” They wanted to pump up the stock price of FirstPlus and sell off ...more »
Most of MF Global's smaller securities customers should have access to all of their funds, trustee James Giddens said in a filing today in US Bankruptcy Court in Manhattan, citing indemnity from the Securities Investor Protection Corp. ...more »
(Source FBI ) – ALLENTOWN, PA—Kenneth G. Reidenbach, 61, an attorney practicing in Lancaster, PA, was convicted today of all charges in connection with fraud stemming from three bankruptcy proceedings in ...more »
First, we want to the trustee to agree – and get the bankruptcy court to agree – that commodity customers have a super priority lien over all the assets of MF Global . If our money wasn't in our accounts, if it was moved somewhere else, that's a crime. ...more »
“This is all about Mr. McCourt, and this is all about Mr. McCourt addressing his personal liabilities,” Werkheiser said. “That is not a valid bankruptcy purpose.” After hearing several hours of arguments, US Bankruptcy Judge Kevin Gross noted the ...more »
The cash, technically property of MF, was pledged as collateral to JPMorgan, but the bank allowed MF to use it in bankruptcy in exchange for a lien on certain assets. The deal has met with criticism from at least one lawyer representing customers of ...more »
By Tom Egan Where Chapter 11 debtors sought to avoid three prepetition mortgages, a US Bankruptcy Court judge acted correctly under 11 USC §362(b)(3) in rejecting that request. “As a familiar bedrock of bankruptcy law, the automatic stay creates ...more »
Witnesses will be limited to experts in broadcasting matters when hearings in the Dodgers case resume next week, a federal judge in a Delaware bankruptcy court ruled on Wednesday. ...more »
But the league said any plan to sell television rights without its approval was "dead on arrival" and would spell the end of the club. League attorneys argued, among other things, that such a sale would breach the Dodgers' existing contract with Fox, ...more »
Knowing they would get paid only what the county could afford if a bankruptcy case went to court, and also facing questions as to the validity of the debts (political corruption was alleged), lenders worked aggressively to cut Jefferson County's debt ...more »
... chairman of the Commodities Futures Trading Commission, to answer a bevy of tough questions about the CFTC's oversight of the failed firm by Dec. 7. In a Nov. 28 letter to Gensler, Neugebauer points to MF Global's filing for bankruptcy on Oct. 31, ...more »
For the second time in the Dodgers' bankruptcy proceedings, Bud Selig has avoided taking the witness stand. Selig would have testified this week had the Dodgers and Major League Baseball not reached an agreement for Dodgers owner Frank McCourt to sell ...more »
A local attorney was convicted in federal court this morning of bilking two bankruptcy clients of more than $50000. Kenneth G. Reidenbach, of Lititz, was convicted of nine counts, including bankruptcy fraud and conspiracy to commit ...more »
... “big law” type like myself could ever have (five years, two uncontested motions). He will be missed. And, of course, I was flying back on American Airlines. Upon landing, my in-box was filled with requests for comments on the bankruptcy case. ...more »
9, 2009. The blaze is still under investigation. Documents filed by Kline in US Bankruptcy Court set the value of the home at $1.1 million. In addition, documents set the value of the Klines' homeowner's insurance policy at $4 million. ...more »
By Tom Egan Where (1) a US Bankruptcy Court judge denied a divorced woman's motion for sanctions against her ex-husband's attorney and (2) that attorney now seeks sanctions against the ex-wife for prosecuting a frivolous appeal, the judge committed no ...more »
