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Predatory JP Morgan Swap Deal Pushes Alabama County Into Largest Municipal
Yesterday, Jefferson County, Alabama, filed the largest municipal bankruptcy in US history, the final step in a sordid tale involving sewers, credit swaps, and some of the nation's biggest banks.
Updated: 11/10/2011 03:15P
MF Global Bondholders May Get as Little as 10%, Fitch Says
10 (Bloomberg) -- MF Global Holdings Ltd.'s bondholders may recover as little as 10 cents on the dollar in the company's bankruptcy, according to Fitch Ratings. Owners of the failed broker's senior unsecured debt will get back between 10 percent and 30
Updated: 11/10/2011 03:14P
Jefferson County files largest municipal bankruptcy
Chapter 9 is different than other chapters in the bankruptcy code in that the law does not allow the court to order the municipality's assets be liquidated and distributed to creditors. The court's functions are generally limited to approving the
Updated: 11/10/2011 03:14P
Consultation to remove courts from liquidation process
Business minister Edward Davey MP today announced the proposals – called Reform of the Process to Apply for Bankruptcy and Compulsory Winding Up Petition Reform - which aim to save time and money when it comes to “simpler” cases.
Updated: 11/10/2011 03:14P
Jefferson County, Ala., wins initial bankruptcy hearing approval from court
The rest were special purpose districts, or public-benefit corporations eligible to use Chapter 9 of the US Bankruptcy Code. Jefferson County supplanted Orange County, California, as the largest municipal bankruptcy. Orange County entered court
Updated: 11/10/2011 03:11P
Electric-Spin's Operating Subsidiary Files for Bankruptcy
H - TSX Venture), announced today that its sole operating subsidiary, Electric-Spin Corporation, has filed an assignment into bankruptcy under the Bankruptcy and Insolvency Act. Schonfeld Inc., Receivers + Trustees, has been appointed as the trustee in
Updated: 11/10/2011 03:09P
New Greek prime minister vows to stick with euro
But two government officials and two opposition lawmakers said Evangelos Venizelos was expected to retain the critical finance minister portfolio. "I can't see how the minister who brought about the Oct. 26 agreement cannot be part of the government,"
Updated: 11/10/2011 03:08P
Two Delafield Estate homes going to public auction
The troubled luxury development — located between West 246th Street and Douglas Avenue — was built more than 30 years ago and has been sitting in limbo since Mr. Zion filed for bankruptcy more than five years ago. After these first two properties are
Updated: 11/10/2011 03:07P
Important Changes to Federal Bankruptcy Rules Effective December 1, 2011 by
Mortgage holders and servicers should prepare for important changes to Federal Bankruptcy Rules of Procedure ("FRBP"), effective December 1, 2011, including requirements for new forms. The changes to FRBP 3001, the procedural rule for filing proofs of
Updated: 11/10/2011 02:46P
MF Global's Bondholders May Get as Little as 10% of Investment, Fitch Says
MF Global Holdings Ltd.'s bondholders may recover as little as 10 cents on the dollar in the company's bankruptcy, according to Fitch Ratings. Owners of the failed broker's senior unsecured debt will get back
Updated: 11/10/2011 02:43P
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