Rap mogul Marion “Suge” Knight has placed his $6.2 million Malibu mansion on the auction block as part of his Chapter 11 bankruptcy. The head of Death Row records, Knight filed bankruptcy in April 2006. He listed debts of more than $100 million for both himself and for his company, while listing assets [...]

Here is an article on Stephen Schwarzman, one of the two owners of the huge hedge fund, Blackstone Group. The article points out how he has raised his public profile through certain vain and sometimes wrongheaded actions, and in so doing, may have indirectly harmed his fellow hedge fund owners.
“As the Financial [...]

This issue was recently addressed in Texas v. Soileau (In re Soileau), 2007 U.S. App. LEXIS 12015 (5th Cir. 2007).
Geraldine Soileau (“Soileau”), a licensed bail bondsman, was sued by the State of Texas for her failure to pay fifty-five bonds on the criminal defendants that she was acting as a surety for, after they absconded. [...]

U.S. home foreclosures jumped approximately 90% this past May from the same time period a year ago. The foreclosure forecast for the rest of 2007 is just as gloom. RealtyTrac uses default notices, bank repossessions, and auction notices to obtain their foreclosure numbers.
“The number of filings in May was [...]

Here is a very interesting interview with an economist from the Austrian School, Friedrich Hayek. His popularity has waxed and waned over the years (he died in 1992), but his views on inflation and deflation may again become relevant. Contrary to what Chairman Bernanke has written, Hayek’s economic view does not favor continued inflation [...]

In bankruptcy, a trustee may recover preferential payments issued to creditors. Under 11 U.S.C. § 547(b) a preferential payment is a transfer made to the creditor for the benefit of the creditor, in payment of an antecedent debt, made while the debtor was insolvent, within ninety days of the petition date (unless the [...]

Andre Rison, former NFL wide receiver and Michigan State alum, was forced into an involuntary Chapter 11 bankruptcy following a June 6 bankruptcy court order. Last month, three creditors related to two child support cases against Rison filed an involuntary bankruptcy petition against Rison. The bankruptcy court entered the order for relief on [...]

The U.S. government appointed an examiner to investigate why New Century Financial Corporation filed for bankruptcy. New Century was the largest subprime lender to people with a poor credit history. New Century Financial Corporation filed for Chapter 11 protection on April 2, 2007.
“The proposed examiner, Michael Missal is a partner at Kirkpatrick & [...]

Another report on the mania which precedes the end of an economic bubble — this time in China, where everyone seems to be getting into the trading game. Recall the story about John D. Rockefeller: in August of 1929 when his shoe shine operator gave him a stock tip, he knew it was the [...]

On May 31, Bally Total Fitness (“Bally”) announced that it has reached an agreement in principle on the proposed terms of a consensual restructuring. Bally plans to implement the proposed restructuring by filing a pre-packaged Chapter 11 bankruptcy of the parent company Bally Total Fitness Holding Corp., and various subsidiaries.
According to Don Kornstein, Bally [...]