The use of trade credit insurance is becoming more prevalent among businesses. Here is a quote from a recent article in CFO’s online magazine regarding the subject of credit insurance:
“…Yet by July 2003, Skyworks managed to get a $50 million credit line by securitizing its receivables with Wachovia Bank, says Vincent. The company was [...]

Section 1234 of the Bankruptcy Abuse Prevention, Consumer Protection Act (BAPCPA) modifies 11 U.S.C. ? 303 to define eligibility requirements for a creditor to qualify to file an involuntary bankruptcy petition. A single creditor may file a petition for involuntary bankruptcy if the debtor has fewer than 12 unsecured creditors. Considering credit cards, utilities, [...]

a. Efforts to Delay the Effective Date

We wanted to update you on a previous post http://www.texaslawyerblog.com/index.php?title=title_10&more=1&c=1&tb=1&pb=1 regarding legislation introduced in Congress to delay the effective date of the revised bankruptcy code.

So far, the bill that seems to be making the most progress is H.R.3662, which would delay the effective date of the revised Bankruptcy Code [...]

Proper records management is essential to the survival of any business. The recent parade of hurricanes in the Gulf has served as a good reminder about the necessity for businesses to have good data storage and recovery programs in place. Many businesses that experience a major disaster are never able to fully recover. But disasters [...]

Even as the wrath of Katrina is still being dealt with, here comes Rita. Personally, the seminar I was to give in Houston tomorrow is off and has been moved to October 20 and 21.

The Dallas presentation of the same University of Houston seminar, Advising Mid-Sized Businesses, will proceed as scheduled for [...]

On September 13, 2005, the U.S. Court of Appeals for the Sixth Circuit decided that the Automatic Stay halted a state court lawsuit where the debtor was not a named party but, since the suit involved property of the estate, the ruling was necessary to protect estate assets. Amedisys, Inc. v. National Century [...]

Once again a supplier to an automobile manufacturer is facing cut backs and certain reorganization, either in or out of bankruptcy court. Here is an article which describes the issues facing Delphi, a supplier to GM:

http://www.bizjournals.com/industries/economic_view/bankruptcies/2005/09/19/dayton_story1.html?f=et156&hbx=e_vert

Here is a quote from the article out of the Dayton Business Journal:
“To stay out of bankruptcy court, Delphi [...]

We’re not even 48 hours into the two Delta and Northwest Airlines bankruptcies and here comes the speculation about a possible merger between these two giants:

http://www.detnews.com/2005/business/0509/16/A09-316952.htm
http://money.cnn.com/2005/09/16/news/fortune500/delta_northwest/?cnn=yes
http://www.usatoday.com/money/biztravel/2005-09-16-merger-speculation_x.htm

The evidence is limited at this point, but some say that a possible merger explains why the two filed on the same day in the same city at least. [...]

For starters, both companies have set up web sites to provide information about their reorganizations. A big plus is that copies of pleadings are available in PDF format.

http://www.deltadocket.com
http://www.nwarestructuring.com

One note: It appears the sites are designed to be compatible primarily with Internet Explorer. They don’t work very well with Firefox or Mozilla.

A bit about the judges:

NWA’s [...]

Here is the article:

http://finance.myway.com/ht/nw/bus/20050914/hlm_bus-mor452096.html

Mike