According to an article in the Dallas Morning News, Idearc, Inc. bondholder (MatlinPatterson Global Opportunity Partners) is challenging the viability of the company’s bankruptcy exit plan and is asking the bankruptcy court to strip control of the bankruptcy case from the publisher.
The article:
“Idearc’s proposed bankruptcy exit plan is based on an agreement it struck with [...]

One of the most common blunders we see debtors make pre-bankruptcy is transferring real estate property before filing.  Most commonly, debtors transfer property to relatives in an effort to protect their assets; but sometimes non-debtor relatives transfer property to a relative who eventually files for bankruptcy.  Usually it is a parent who decides to transfer [...]

Filing bankruptcy can be extremely hectic and many debtors make mistakes with their filing.  One of the most common bankruptcy mistakes is forgetting to list a creditor on the bankruptcy filing.  Let’s take a look at what happens when you forget to list a creditor on your bankruptcy filing:
#1 – If your bankruptcy has [...]

Regaining Control of Your Life:  How filing for bankruptcy can put you back in the driver’s seat of your own life.
One thing is indisputable about making the decision to file for bankruptcy:  it puts you back in control of your own life.  Just think about that for a minute.  Your finances have been spiraling more [...]

Chapter 11 bankruptcy is in all of the headlines today, as companies such as GM, Chrysler and even Reader’s Digest file for what is commonly know as business bankruptcy.  But Chapter 11 bankruptcy isn’t just for the “big boys” it can also help small and medium sized businesses reorganize their debts and protect their assets.  [...]

In the bankruptcy case of Figler, Bruce S.; In re (DirecTV Inc. v. Figler), the bankruptcy court ruled that the debtor could not discharge a judgment resulting from pirated cable TV.
The details of the bankruptcy case:
In May 2004 DirecTV won a $70,450 judgment against a debtor for stealing the company’s signal. Shortly thereafter the [...]

In the bankruptcy case of L.K.; In re, (Bankr. E.D.N.Y. 2009), a debtor’s request to seal her records due to sensitive medical information revealed during the proceedings was denied; but the bankruptcy court agreed to conceal her identity in court records.
The details of the bankruptcy case:
A Chapter 7 bankruptcy debtor asked the bankruptcy court to [...]

Many debtors considering bankruptcy hesitate because they have taken out loans from friends and family and don’t want to “wrong” them by filing bankruptcy. Many debtors even make the mistake of hiding or secretly repaying friends and family loans while filing bankruptcy on their “other” debt. We need to talk about this very [...]

According to an article in the Dallas Morning News, the IRS will temporarily stop collecting penalties from some small businesses that have been hit with big fines for not disclosing the use of questionable tax shelters. This is a huge benefit for small businesses. I don’t know if readers remember, but in 2004 a [...]

According to an article in the Dallas Morning News, real estate investors who say commercial real estate broker Henry S. Miller Commercial has refused to pay $9 million in court judgments against him and they are seeking to force the broker into bankruptcy.
The article said:
“The case revolves around the planned sale of eight apartment complexes [...]

In the bankruptcy case of debtor J. Reed, creditor West Texas Truck Center, Inc. was inadvertently left off of Reed’s creditor list.  It was only after the creditor West Texas Truck Center filed a lawsuit against Reed that she added the creditor to her bankruptcy case.  That’s when the creditor filed a motion to deny [...]

There was an interesting bankruptcy case (Gubellini, Peter W.; In re) involving a debtor who was denied a bankruptcy discharge because of poor record keeping.
The details of the bankruptcy case:After thoroughly examining the debtor’s checking account register and bank statements for the years 2004 through 2006, the court was unable to identify how $74,187, [...]