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US Fidelis' Biggest Creditor Was In On the Scheme, Unsecured Creditors Say
"For example, on October 9, 2007, Fred Kolb, US Fidelis' Chief Financial Officer, using his own personal email account, sent Scott McMillan of Mepco an email informing him that Darain [Fidelis founder Darain Atkinson] had caused some contracts to be
Updated: 09/13/2011 10:12A
US FDIC to give banks more time to make wills
Under a final rule the Federal Deposit Insurance Corp board will vote on later Tuesday, banks will also be required to file these plans with regulators in phases based on their size. An initial rule released in April would have required all plans to be
Updated: 09/13/2011 10:08A
The Most Bankrupt Cities and County in the US
The worst economic recession since the Great Depression has taken its toll on a number of US cities that have filed for bankruptcy. The most prominent of which is the city of Vallejo, once the capital of the state of California, now having the infamous
Updated: 09/13/2011 10:06A
Chicago Business Law Firm Horwood Marcus & Berk Adds Four Corporate Partners
He has extensive experience in drafting loan agreements involving asset- and non-asset based, different types of collateral, both real estate and non-real estate, leveraged and syndicated transactions. Mr. Salzman has litigated a variety of matters for
Updated: 09/13/2011 10:02A
Here's Why More College Graduates Are Filing for Bankruptcy
The number of college graduates filing for bankruptcy is on the rise in the US as the economic recovery continues to stagnate. Though those who didn't graduate from college still make up 70% of debtors, the rate of college graduates
Updated: 09/13/2011 10:01A
Prosperous cities help corruption-plagued Bell
AP Sports News Video BELL, Calif. (AP) - Beverly Hills and Santa Monica are among prosperous California cities helping corruption-plagued Bell with free administrative aid. The cash-strapped, working-class town in southeast Los Angeles County has had
Updated: 09/13/2011 09:59A
College grads increasingly among ranks of bankrupt
College graduates are the fastest-growing group of consumers who have filed for bankruptcy protection in the past five years, according to a new study by a financial nonprofit group, which underscores the broad reach of
Updated: 09/13/2011 09:57A
Judge OKs severance pay for former Borders execs
Former Borders CEO Mike Edwards will receive $125000 in severance pay thanks to a ruling by a federal bankruptcy court judge. A bankruptcy judge will allow Borders Group Inc. to make $500000 in severance payments to four former executives,
Updated: 09/13/2011 09:55A
Weinberg: Debt Crisis to Cause Europe Depression
"In comparison, Lehman's bankruptcy left about 600 billion euros ($818.78 billion) in assets to be resolved, Weinberg wrote in a research note published in part by CNBC. "This is a shock that could easily spread around the world quickly, as did the hit
Updated: 09/13/2011 09:51A
Prosperous Calif. cities jump in to help corruption-plagued Bell dig out of
The cash-strapped, working-class town in southeast Los Angeles County has had trouble hiring administrators and finding a firm to audit its books since the corruption scandal drove it to the brink of bankruptcy.
Updated: 09/13/2011 09:38A
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