On April 12, 2006, the Supreme Court of the United States approved new Appellate Rule 32.1 to the Federal Rules of Appellate Procedure. This proposed new rule would allow citation to unpublished opinions in federal courts. Although unpublished opinions would remain non-precedential even if the proposed new rule is adopted, many attorneys are [...]

Michael Jackson has reached a deal with his creditors to refinance more than $200 million in loans which are secured by the entertainer’s stake in the Beatles’ song catalog.

The loans in question came due in December 2005 and are held by the Fortress Investment Group, a New York private equity fund. Terms of the [...]

On November 29, 2005, we wrote about an opinion from the Bankruptcy Court for the Southern District of Texas (the article can be found on this page http://www.texaslawyerblog.com/index.php?m=200511) in which 5 debtors had their petitions stricken because they did not satisfy the eligibility requirements for bankruptcy.

On December 3, 2005, Debtors Elias and Diane Salazar filed [...]

Quote:
A San Jose high-risk mortgage lender and its highest-ranking officer have been pulled into involuntary bankruptcy proceedings in San Jose federal court amid allegations of fraud involving millions of dollars and phony deeds of trust.

Here is a link to the entire article:

http://www.bizjournals.com/sanjose/stories/2006/04/10/story3.html

Mike

Here is an article concerning the salaries of the top executives at Ford. CEO and President Bill Ford agreed to forgo his salary until the company is doing better financially, but he still was entitled to about 5 million in stock awards/options. He has agreed to give much of those benefits to charity. [...]

Uncle Walt to Provide Parent-Friendly Cell Service (or, “How to Keep Closer Tabs on Your Kids than Your Parents Did on You”)

This summer, Disney will launch Disney Mobile. This new cell service plans to offers a broad range of parental controls — such as limiting when and who children can call — and the [...]

Texas has always had an interesting political scene. This news story involves a powerful Austin politico, undefined, but slightly disclosed “gifts” from even more powerful power brokers, a lawsuit over illegal campaign contributions where the attorneys fees were alleged to have exceeded the amount of the judgment and (of course) a personal bankruptcy to [...]

A petition for certiorari has been filed by a party seeking to resolve the question of whether bankruptcy courts may exercise supplemental jurisdiction under 28 U.S.C. ? 1367, or whether bankruptcy court jurisdiction is curtailed by 11 U.S.C. ? 1334(b). The Fifth Circuit Court of Appeals has taken the more restrictive view, but the Second [...]

In a case issued by the 5th Circuit on March 31, a ruling which ordered the substantive consolidation of a debtor company and a non-debtor individual/owner nunc pro tunc to the date of the filing of the company’s bankruptcy case was set aside. This is a case of odd facts makes for odd rulings. [...]

Creditors of bankrupt Adelphia Communications are fighting about who is entitled to receive a cut of $5 billion in stock that Time Warner Cable proposes to pay for some of the bankrupt company’s assets. The fight could jeopardize confirmation of Adelphia’s most recent proposed plan - its fifth.

The dispute is between holders of certain convertible [...]