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CIT Is Upbeat on the Economy
"We advanced our 2011 priorities by growing business volumes, accessing diverse funding markets, and further reducing high-cost debt," Mr. Thain, chairman and CEO, said in a statement. Mr. Thain joined CIT in February 2010 and has been working to get
Updated: 10/25/2011 09:50P
Lightstone Chief Defends a Bankruptcy
Real-estate investor David Lichtenstein, who faces a court order to pay lenders a $100 million penalty for his 2009 decision to put his Extended Stay hotel chain into bankruptcy, says he's being branded the bad boy for doing the right
Updated: 10/25/2011 09:28P
Andronico's sale to Renovo nears; San Anselmo store will stay open but
The market chain filed for bankruptcy in August. "Andronico's University Avenue store is probably one of their weakest stores," said Robert Reynolds, principal analyst with Moraga-based Reynolds Economics, which tracks retail trends.
Updated: 10/25/2011 08:56P
Pannone LLP | Bankruptcy checks stop on Property and Affairs Attorneys
The Office of the Public Guardian (OPG) has therefore carried out bankruptcy searches against all property and affairs attorneys since 2007. It was thought that the OPG search would make it unnecessary for attorneys to self-certify their solvency.
Updated: 10/25/2011 08:40P
Baker & Hostetler LLP | Owners May Be "Stuck" With Dissolved Company's Debt
A recent New York bankruptcy case holds that shareholders, directors and officers who dissolve a corporation to avoid paying a judgment against the business may be jointly and severally liable for a non-dischargeable debt in their personal bankruptcies
Updated: 10/25/2011 08:40P
Pannone LLP | Delays and Bankruptcy Searches at the Office of the Public Guardian
In recent times the Office of the Public Guardian (OPG) has been blighted by delays. My recent cases have seen it take 3 – 4 weeks from the end of the statutory waiting period to receipt of the validated LPA. The statutory waiting period is 6 weeks and
Updated: 10/25/2011 08:40P
Schulte Roth & Zabel | Case Study: In Re Zais Investment Grade
The US Bankruptcy Court for the District of New Jersey recently held that a Cayman Islands collateralized-debt obligation issuer ("CDO") could be a debtor under Chapter 11 of the US Bankruptcy Code and declined to dismiss an involuntary case commenced
Updated: 10/25/2011 08:40P
Gibbons | Gibbons Announces 2011 Fall Associate Class
Our new class comprises four recent federal clerks, for the United States District Courts and Bankruptcy Court, as well as for the Supreme Court of Canada. One member of the Gibbons fall associate class has served as a law clerk in the Supreme Court of
Updated: 10/25/2011 08:40P
Arnold & Porter | Privacy Promises and Bankruptcy: Bordering on the Edge of
This precise question is currently playing out in the bankruptcy of Borders, the national bookseller which entered Ch. 11 in February. The bankruptcy court appointed a Consumer Privacy Ombudsman, whose report stated any use of Borders consumer
Updated: 10/25/2011 08:40P
Addleshaw Goddard LLP | EELU Switzerland
The Swiss Federal Supreme Court reaffirmed that Article 333 CO, which governs the transfer of an employment relationship, is also applicable in composition proceedings under Swiss Bankruptcy Law. It held that the rationale behind Article 333 CO is to
Updated: 10/25/2011 08:40P
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