Texas Lawyer Blog: Bankruptcy

Home -> Law Blog Directory -> Bankruptcy Blogs

OR PHONE (866) 635-1838 for Bankruptcy Help, (866) 635-6190 for Divorce,
(866) 635-2689 for Personal Injury or (866) 635-9402 for Criminal Defense

Find a Local Lawyer

Bankruptcy (866) 635-1838
Divorce (866) 635-6190
Personal Injury (866) 635-2689
Criminal Defense (866) 635-9402

Bankruptcy

Texas Lawyer Blog

Bankruptcy law: adversary proceedings, fraudulent transfers, preferences, creditor representation.
By J. Michael McBride

Post Frequency: 6.9/day

Last Entry: March 29, 2011 at 11:47:27

NASCAR Issues Penalties

Posted on February 12, 2008
Drivers Busch and Stewart are both on probation for 6 races, according to the newly released NASCAR edict. Evidently, there was "an incident" on the track and then one in private (Stewart allegedly punched Busch in the officials' trailer!). "NASCAR spokesman Ramsey Poston said the measures would have been more severe if Stewart and Busch had rubbed fenders while pit crew members were working on pit road, endangering their safety...

What are the Presidential Candidates' Proposals for Resolving the Subprime Mortgage Crisis?

Posted on February 06, 2008
Here is a snapshot of the Presidential Candidates' views on the mortgage crisis. The views were compiled by Bankrate.com and summarized in the following ABI article: http://www.abiworld.org/e-news/02-05-08.html Clinton: Proposes cracking down on mortgage brokers, eliminating payment penalties, requiring mortgage lenders to include the cost of taxes and insurance in high-risk mortgages, and establishing a fund to help at-risk borrowers avoid foreclosure...

What a Nasty Letter for a $16.96 Debt!

Posted on February 05, 2008
Nationwide Collections, Inc. of Fort Pierce, Fla., will be sued next week for a collection letter it sent out to a customer of Columbia House for a music account in October 2007. What makes this collection letter worthy of litigation? The letter was addressed to "Dear S--- " in an envelope addressed to "S--- Face" (spelled out in the letter and on the envelope)...

Robbing Peter to Pay Paul Can Land You in Bankruptcy Court

Posted on January 30, 2008
A gallery ("Debtor") in New York, who was charged with holding art work, sold that art work (worth $4.6 million) without the permission of the owners in order to pay off its debts. When the owners ("Creditors") found out they placed the Debtor in involuntary bankruptcy under Chapter 7 on November 1, 2007...

To access this complete feed in the blog feed reader login or register for free.

Fed Cuts Rates Again

Posted on January 30, 2008
Showing once again that it will pull out all the stops to avoid further economic slowdown, the Federal Reserve has again cut interest rates, this time by 1/2 a point. This size cut and the comments made both allow for further rate cuts in the future...

Nationwide Foreclosures Jumped 75% in 2007

Posted on January 30, 2008
According to the 2007 U.S. Foreclosure Market Report released on January 28, 2008 by RealtyTrac the nationwide foreclosures in 2007 jumped 75% from 2006 with a total of 2,203,295 foreclosure filings. "More than 1% of all U.S. households were in some stage of foreclosure during 2007, up from 0...

French Bank Loses 7 Billion...because of one "rouge" trader!

Posted on January 24, 2008
A low level employee of Societe Generale somehow engineered trades over several years that evaded all of the bank's internal controls and ultimately lost the bank 7 billion dollars, according to news reports today. The bank, which also just wrote off about 3 billion dollars due to the "global credit crunch" is now searching for additional capital...

Note that the Fed Rate Cut did not Prevent Stock Drop

Posted on January 22, 2008
The market fell today 450 points and has since recovered to a drop of 250, but this activity is after the Federal Reserve cut rates in an emergency action not taken since just after the Sept. 11 attacks. "U.S. markets joined stock exchanges around the globe that fell precipitously in recent days amid concerns that a downturn might spread around the world...

What are Democrat Candidates Saying About the 2005 Bankruptcy Law?

Posted on January 18, 2008
When asked during Tuesday's night debate in Las Vegas about the 2005 Bankruptcy law, the candidates had the following comments: Edwards: When asked if he regretted voting for the 2001 bankruptcy bill which later became law in 2005 that made it more difficult for the middle-class, particularly woman, to file for bankruptcy Mr...

Garth and Troy Show Off New Room at Local Hospital

Posted on January 17, 2008
On a personal note, although thankfully my girls are presently healthy, both of them (and I) have spent many nights at our local children's hospital, Cook Children's Medical Center, and have spent time in a play room donated by Troy Aikman. Here is a story about it being updated with the help of both Troy and Garth Brooks...

More Foreign Funds Investing in US Financials

Posted on January 15, 2008
More news on foreign funds, frequently foreign governments themselves, buying into US financial companies. "Merrill Lynch & Co. said Tuesday that it is getting a cash infusion of $6.6 billion from three foreign investment funds. The Korean Investment Corp...

Pop Quiz

Posted on January 15, 2008
OK, so what do the Kuwait Investment Authority, the New Jersey Division of Investment, Prince Alwaleed bin Talal of Saudi Arabia and Sanford Weill all have in common? In short order, they may all be major contributors to bail out Citigroup. As you have read, Citigroup announced its 10 billion loss and its 18 billion write off...

Merrill Looking for More Foreign Money After 15 Billion Loss

Posted on January 11, 2008
"Merrill Lynch is expected to suffer $15 billion in losses stemming from soured mortgage investments, almost double its original estimate, prompting the firm to raise additional capital from an outside investor. ... To shore up its deteriorating finances, Merrill is now in discussions with investors in the United States, Asia and the Middle East, including American private equity firms, to raise about $4 billion in the coming days, these people said...

In a Stunning Move, BoA Buys Countrywide

Posted on January 11, 2008
Yesterday, the talk was that Countrywide would file for chapter 11; today Bank of America inks a deal to buy the troubled lender. Recall that BoA had invested 2 billion in Countrywide about 5 months ago and, perhaps to salvage that investment or to make the powers that be happy by not allowing Countrywide to go into bankruptcy perhaps triggering an even larger "crunch," it now announces that it is buying the company for 4 billion...

Are Big Malls Next?

Posted on January 10, 2008
Here is an article in the online magazine, www.Slate.com , which addresses "ghost malls" and whether the real estate crash will spread from individual homes to malls. The author's conclusion is: not yet, but maybe soon. Quote: "Malls aren't turning into haunted houses just yet, but they may be on their way, thanks to the recent wholesale shuttering of national retail chains...

Related Law Bulletins

Texas Governor Takes Surprising Stand In Favor Of Immigrants
Texas Governor Rick Perry, normally an ultra-conservative, surpris...

District Judge Upholds Texas' Moment of Silence Law
In 2003, the Texas legislature amended a "moment of silence" law s...

Irving, Texas Losing Students Due To Immigration Crackdown?
The Dallas Morning News had an interesting story Sunday about the ...

Two New USCIS Training Centers To Open In North Texas
The Dallas Morning News reports today that two regional training c...

Comprehensive Explanation of Irving, Texas Immigration Situation
The Dallas Morning News has a very good series of articles today a...