Dura Automotive Systems filed for bankruptcy protection in the federal courts of Delaware this week. Dura is a major auto parts company and the fifth to file for bankruptcy protection. It supplies auto parts to Ford and General Motors.
“Representatives of Ford and G.M. said they did not expect production to be affected by [...]

In an underreported story, David M. Walker is headlining a Fiscal Wake Up Tour of America warning of impending economic doom. Mr. Walker is the head of the General Accounting Office, the head accountant for the United States. Here are some quotes from an ABC News article:
“But Walker doesn’t want, or need, your [...]

Quoting from the online magazine, Slate: “Wouldn’t it be ironic if the giant financial services companies, whose trade group gleefully hailed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (which President Bush signed with equal glee in April), found that the tough bill might deprive them of potential corporate business?”
Shortcut to: http://www.slate.com/id/2121806/
Mike

With the recent news of the sentence given to ex-Enron executive Jeffery Skilling (24+ years in a federal prison) it is good to recall that in 2001, at the time of the Enron collapse, over 4,000 people lost their jobs and over $60 billion dollars in stock market value was lost and, finally, billions in [...]

The Fifth Circuit recently vacated and remanded an order dismissing Tim Truman, the Chapter 13 Trustee’s, Motion to Modify the Chapter 13 Plan of Sergio and Sharon Meza. After the Meza’s plan had been confirmed, the Trustee received the Meza’s income tax refund. Under the confirmed plan the Trustee was entitled to apply [...]

Under the BAPCPA, the “Ordinary Course of Business” defense to preferential transfers was amended. A preferential transfer is a transfer of estate assets to a preferred creditor during the time period shortly before the debtor files for bankruptcy. Specifically, Section 547(b) of the Bankruptcy Code defines it as a transfer:
(1) to or [...]

The Diocese of Davenport, Iowa became the fourth parish to file for bankruptcy protection. These dioceses have been pushed into bankruptcy because of the multiple lawsuits filed by victims of alleged sexual abuse by parish priests. Each diocese has tried to bear the expense of mediating and settling the lawsuits but with [...]

Blogs are a form of free speech, right? (Or are they advertising which should be regulated?) Most law firms have them and use them as marketing tools to get their firm’s name out on the world wide web. In them, lawyers discuss everything from the latest court rulings to the status of their [...]

Is there a power struggle brewing between Las Vegas billionaire Kirk Kerkorian, the largest individual holder of General Motors stock and CEO and company chairman Rick Wagoner? Jerry York turns in his resignation just two days after his negotiations to form an alliance between GM and Nissan Motor Company and Renault SA fell [...]

The Chief Executive Officer of Sun Microsystems Inc. has sought a ruling from the SEC that information he “publishes” in his personal blog as well as certain e-mails and webcasts satisfy Reg FD. Regulation Fair Disclosure which is put out by the SEC requires formal publicly traded companies to formally publish information which is [...]