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Special Report on

Bankruptcy and Financial Restructuring Law

bankruptcy and financial restructuring law special research report Photo by
As the economy continues to slow, a number of experts anticipate a virtual flood of bankruptcies and restructurings in the coming months. U.S. consumer bankruptcy filings already jumped nearly 31% last month versus a year ago, according to the American Bankruptcy Institute (ABI), citing data from the National Bankruptcy Research Center (NBKRC). Moreover, ABI says the total number of U.S. bankruptcies filed during the first three months of 2008 increased almost 27% over the same period in 2007 in all bankruptcy court districts, according to data released by the Administrative Office of the U.S. Courts. “At current trends, ...
(Article 1, Section 8, Clause 4) which authorizes Congress to enact "uniform Laws on the subject of Bankruptcies throughout the United States." Congress has exercised this authority several times since 1801, most recently by adopting the Bankruptcy Reform Act of 1978 , codified in Title 11 of the United States Code , commonly referred to as the Bankruptcy Code ("Code"). The Code has been amended several times since 1978, most recently in 2005 through the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 or BAPCPA . Some law relevant to bankruptcy is found in other parts of the United States ...
Main Principles Of Financial Restructuring. « When Problems Get Solved
The initiative of introduction of the financial restructuring of the company can come from either the debtor or a third person (third parties). In the first case, the law clearly requires that supreme governing body (depending on the legal form it may be a general shareholders’ general meeting of members, etc.) or the owner of the debtor’s property – a unitary enterprise can do it. Third parties may intervene in the bankruptcy process only with the consent of the debtor. Unlike the situation with the debtor, where the will of the latter is formed, and expresses its participants (founders), the issue of consent ... market research, surveys and trends
The Bankruptcy Files: Trump Casinos Exit Chapter 11
For the third time in its history, Trump Entertainment Resorts has emerged from bankruptcy by eliminating $1.3 billion in debt, according to an announcement by the company late Friday . Weil, Gotshal & Manges served as lead bankruptcy counsel to Atlantic City, N.J.-based TER, which operates three casinos in the coastal New Jersey city under the Trump banner. TER filed for bankruptcy in February 2009 , after former chairman Donald Trump and his daughter Ivanka quit the company over disputes with bondholders. Over the next several months, several billionaires, including Trump, jockeyed for control of TER. As noted by Reuters market research, surveys and trends


Charter to File Bankruptcy as Part of Restructuring (Update3 ...
the money-losing cable-television company, said it plans to file for Chapter 11 bankruptcy as part of a financial restructuring on or before April 1. Charter said today in a statement that it reached an agreement with a committee of some debt holders to reduce its obligations by about $8 billion. Controlled by Microsoft Corp. co-founder Paul Allen and based in St. Louis, Charter has about 5.6 million customers in 28 states, according to its Web site . The cable company has sold the most U.S. high-yield bonds of any company in the past decade, according to data compiled by Bloomberg. Allen bought Charter in 1998, amassed the ... industry trends, business articles and survey research
The Bankruptcy Files: Aviation, Pharmaceuticals, and Real Estate
Michael Lurey, cochair of the global insolvency practice at Latham & Watkins in Los Angeles, is serving as bankruptcy counsel to Spansion along with financial restructuring partners Gregory Lunt and Glen Collyer and M&A partner Tad Freese.  Latham listed billing rates  between $750 and $1,050 per hour for partners, $695 and $975 for counsel, and $370 and $725 for associates. Michael Lastowski, managing partner of the Wilmington office of Duane Morris, has been retained by Spansion as Delaware bankruptcy counsel. Spansion has also turned to a team of lawyers from Baker & McKenzie in San Francisco to serve as ... industry trends, business articles and survey research
Abitibi, Controladora, Almatis, General Growth, Texas Rangers: Bankruptcy
the largest newsprint maker in North America, is pursuing a fourth and last extension of the exclusive right to propose a Chapter 11 plan. Although Abitibi has a reorganization plan on file, the new exclusivity motion said there are talks with “key creditor constituencies” about “certain amendments.” Aurelius Capital Management LP and Contrarian Capital Management LLC previously claimed to have a blocking position due to their ownership of notes representing more than a third of unsecured claims against Bowater. Because bankruptcy law limits a reorganizing company’s right to retain so-called exclusivity to 18 months, the latest ... market trends, news research and surveys resources
Bankruptcy filings continue to rise
Bankruptcy attorney Stephen Newland works on a case Tuesday with paralegals Cate Saville (left) and Jessica Breeman at the Newland, Newland, & Newland Libertyville office. (Amanda Schwengel – WOODSTOCK – Some lost jobs. Some lost homes. Some racked up medical bills. Some used to be millionaires. Bankruptcy attorney Stephen Newland said clients seeking bankruptcy ran the gamut. “I’ve seen a lot of real estate agents and real estate investors – people who were multimillionaires a few years ago – who can’t unload their properties,” he said. ... market trends, news research and surveys resources


Bankruptcy and Financial Restructuring Law 2008, Top Lawyers on Trends and Key. Strategies for the Upcoming Year; Contributing author (2008, Aspatore Press) ... technology research, surveys study and trend statistics
Bankruptcy Law Survey
law area. *** ELIZABETH E. (BETH) BROWN, ESQ., co-chairs the Financial Restructuring/Insolvency/ Bankruptcy department at. Holme, Roberts & Owen, LLP. ... technology research, surveys study and trend statistics
Bankruptcy & Financial Distress — The Harvard Law School Forum on ...
Posted by R. Christopher Small, Co-editor, HLS Forum on Corporate Governance and Financial Regulation, on Friday July 23, 2010 at 9:14 am Editor’s Note: This post comes to us from Efraim Benmelech of the Department of Economics at Harvard University and Nittai Bergman of the Department of Finance at MIT. In the paper, Bankruptcy and the Collateral Channel , which is forthcoming in the Journal of Finance , we investigate whether bankrupt firms affect their competitors in a causal manner or whether the observed adverse effects merely reflect changes in the economic environment faced by the industry at large. Using a novel ...
Bankruptcy Law: Reaffirmation of a 1st mortage after Chapter 7 ...
QUESTION: I have just met with the trustee today after filing a chapter 7. If my case is discharged, but I still want to keep my home what is the next step? Do I contact the lender myself or will they contact me? I am not current on my mortgage due to lost of income at the time, this was the reason I filed Chapter 7. However, if my case is discharged and I no longer have to pay the credit cards this will allow me to have more money towards the first mortgage, if the lender is willing to do a restructuring of the loan and lower my payment. My home is currently worth only $170,000 but I owe $305,000. What do I need to do first? In ...
Given the economy, what career alternatives would you suggest to ...
That said, I would very much recommend my former industry (Institutional consulting). I spent over 7+ years working for Callan Associates ( consulting to some of the largest pension, foundation and endowment funds in the country. I came in as an experienced professional, but I would also highly recommend it for recent graduates as a way to see the different opportunities in the investment industry. My responsibilities ranged form asset/liability studies, investment manager structure analysis and manager recommendations. Alumni of the firm have landed at Wellington Management, Capital Guardian, Janus, Fidelity ...