Articles in Channel: Bankruptcy

Draft UK Rules on Pay Disclosure for Top Earners at Banks

March 15, 2010 17:11

By: Philip J. Morgan The UK remains at the forefront of international efforts to regulate bank pay practices. On 10th March 2010, the UK Treasury published draft new rules that, if they remain in their current form, will require the annual public disclosure by large banks and building societies of...

Co-Signing Your Way To A 1099C

March 15, 2010 15:54

Practicing Consumer Bankruptcy Law is very interesting work. Usually, I get to tell bankruptcy clients good news. Sometimes, I have to deliver bad news about their bankruptcy cases. In a recent case, a young man purchased his first home several...Practicing Consumer Bankruptcy Law is very...

Don't Settle Debts Before Filing Bankruptcy

March 15, 2010 13:04

The only reason you should negotiate directly with your creditors, is to avoid bankruptcy.  Remember that working with debt settlement companies is both costly and detrimental to your finances and will likely land you in my office filing for bankruptcy.  If you want to avoid bankruptcy,...

New Regulatory Approaches to Short Selling in the U.S. and the EU

March 12, 2010 22:05

By: Kay A. Gordon, Dr. Wilhelm Hartung, Cary J. Meer, Philip J. Morgan, Mark D. Perlow, Neil Nick Robson, Richard Guidice, Jr Changes in the regulatory approach to the short selling of listed securities have recently been announced in both the United States (U.S.) and the European Union (EU). In...

Winter 2010 Edition Of Bankruptcy Resource Now Available

March 12, 2010 15:29

The Winter 2010 edition of the Absolute Priority newsletter, published by the Cooley Godward Kronish LLP Bankruptcy & Restructuring group, of which I am a member, has just been released. The newsletter gives updates on current developments and trends in the...

Bankruptcy in Ontario: What Happens to My House and Car?

March 11, 2010 18:11

A house and a car may be exempt in a bankruptcy in Ontario, depending on their value.Question: Hi, my boyfriend is heavily in debt and we would like to seek some advise. He has $70,000 in credit card and line of credit debt and is having a hard time coping up with the payments since he only works...

Massive Increase in Personal Bankruptcy in Ontario

March 09, 2010 16:51

Massive increase in bankruptcy and proposal filings in Ontario: debt levels high; more problems in the future if interest rates increase.Bankruptcy and Proposal Filings In 2009 the number of consumer bankruptcies and consumer proposals increased by 31% in Canada in 2009, after growing by over 14%...

DOL Proposes Revamped Rule on Investment Advice

March 09, 2010 14:34

By: Catherine S. Bardsley, Mark J. Duggan, John J. Nestico, David Pickle, William A. Schmidt, William P. Wade, Kristina M. Zanotti. The U.S. Department of Labor (“DOL”) has issued a new proposed regulation (the “Proposal”) in the most recent installment of its ongoing...

What if an Equity Sponsor is also a Lender in your Bank Group?

March 08, 2010 19:05

This post was written by my partner Ben Brimeyer, a member of the Financial Industry Group in Reed Smith's Chicago office. In today's challenging economic climate, private equity sponsors are trying to figure out how to fill funding gaps in acquisition financings -- and how to...

U.S. Supreme Court Says Attorneys are Debt Relief Agencies under BAPCPA, Upholds Ban on Advising Clients to Incur Additional Debt

Kevin Chern
March 08, 2010 17:39

For nearly five years, courts across the country have been asked to determine whether or not BAPCPA's Debt Relief Agency designation applies to bankruptcy lawyers and whether the disclosure requirements and limitations on advice set forth in BAPCPA were Constitutional...