bankruptcy court

A week after the Obama administration encouraged Americans to reduce education debts in bankruptcy courts, the same administration is blocking those courts from reducing other forms of student debt.  A solid example of this predicament is a 65 year old man named Robert Murphy, who accumulated $246,000 worth of education debt for himself and his children due […]

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Thousands of residents in Detroit have no water supply because the Detroit Water and Sewerage Department has shut it off. This is part of their aggressive approach to collect unpaid water bills. But on Tuesday, U.S. District Judge Steven Rhodes told the water department that such action is bad publicity for the city and so […]

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U.S. Government Asks Judge to Liquidate LifeCare Hospital Chain over Tax Payments U.S. government files a motion in court stating that it liquidating a chain of 27 hospitals is better than to sell it off as a continuing business. Based on the court papers filed, the Internal Revenue Service asked the judge to prevent the […]

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The Obama administration and the new government of Egypt are nearing a $1 billion deal for debt relief, a senior US official said. Washington is seeking to assist Cairo with its troubled economy that resulted in the uprising of pro-democracy. US diplomats and arbitrators for the new president of Egypt Mohamed Morsi were finalizing a […]

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A court ruling in Sentinel Management Group’s case might make it harder for customers to recover the money they invested in MF Global, according to the bankruptcy trustee of Sentinel. Bank of New York Mellon was put ahead of the customers in the waiting line of those who want to recover the money they invested […]

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Solar panel manufacturer Solyndra would pay $3.5 million to settle a lawsuit filed by its former employees who accused the company of not notifying them properly that they had been laid off. The company received $535 million of U.S. government loans but filed for Chapter 11 bankruptcy last year. The settlement papers were filed on […]

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The bankruptcy filings of businesses in Texas have dramatically decreased in the first half of 2012. But the experts are saying that the bankruptcy courts in Texas will probably experience another wave of business bankruptcy filings under Chapter 11 if the economy recovers. If the economy does not get better, the courts would possibly see […]

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Invaluable patents of networking and broadband produced by Nortel Networks are going to be sold next week, and technology titans including Intel, Apple, and Google are going on the list of potential buyers. Nortel will put up 6,000 patents and patent application on sale in one of the company’s last asset sales. Its wide ranging […]

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LPS Sanctioned for Perjury by US Judge

by San Antonio Attorney

A New Orleans federal bankruptcy judge has declared that sanctions would be imposed upon Lender Processing Services after finding that the company deliberately defrauded the court in its testimony and submitting fabricated affidavits in a foreclosure case. It was alleged that an employee of LPS had intentionally mislead the bankruptcy court and in its defense, […]

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Facing the need to file bankruptcy it is natural to feel anxious about what is required of you and what will happen to you and your property. It is not the case that you will lose all your property if you file bankruptcy as some assets and property are exempt. What is and is not […]

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