The Wall Street Journal published two blogs today which debated the merits of amending the bankruptcy code to discharge student loan debt. One of the blogs called for reform of the cost of higher education rather than addressing dischargeability under the bankruptcy code. While the article was well intentioned, it failed to hit on the […]
GM Still Disputing Pre-Bankruptcy Claims
Detroit auto maker General Motors is back in bankruptcy court. Its bankruptcy lawyers are disputing claims that arose prior to the company’s 2009 bankruptcy filing. The complaint is by car owners who suffered loss of value in their cars due to General Motors cover up of many issues with those cars. The issues for bankruptcy […]
Municipal Bankruptcies May Reveal Issue Wider Spending Issues
The President of the New York Federal Reserve recently gave commentary that the municipal bankruptcy of Detroit, along with Stockton’s bankruptcy, may foreshadow more widespread problems in municipal governments across the country that are not reflected by bond ratings. Bond ratings are similar to consumer FICO scores in that many investors heavily rely on them […]
Bankruptcy Attorneys for Caesars Entertainment Struggle in Court
Bankruptcy attorneys for Caesars Entertainment have been struggling in bankruptcy court lately. The bankruptcy judge assigned to Caesar’s case questioned the financial maneuvers of the owners for taking part in transactions appearing to be self-dealings. The bankruptcy lawyers for Caesars will have to show the company’s good faith leading up to the bankruptcy filing to […]
Oversight of Detroit Bankruptcy Transferred
The chief judge of the U.S. 6th Circuit Court of Appeals, R. Guy Cole, Jr., has appointed U.S. Bankruptcy Judge Thomas Tucker, of the Eastern District of Michigan, as the new judge to proceed over the City of Detroit’s Chapter 9 bankruptcy. Chief Judge Cole stated that he looked at factors of experience and case […]
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