Bankruptcy Information

This week, Lehman Brothers Holdings Inc. announced that their plan to exit bankruptcy has the approval of their creditors.  Lehman’s creditors hold about $160 billion of the investment bank’s debt.

The bank has 9 new settlements that they believe will provide enough approval from debt holders to end their bankruptcy in the near future.

Creditors have until November 4 to vote on Lehman’s bankruptcy exit plan.  The exit plan would pay back all creditors a total of $65 billion out of $320 billion in allowed claims.

The next hearing in the case will be held December 6.

To learn more about filing for bankruptcy in Birmingham, contact the Birmingham bankruptcy attorneys of Greenway Law, LLC by calling 205-324-4000 today.

Tags: Bankruptcy, Exit Bankruptcy, Lehman Brothers

Lenders had pushed debtor South Edge into bankruptcy

Inspirada project once expected to have 11,500 homes

Secured lenders recovering 9093 pct of amount owed

KBHome, Toll, others to keep controlpapers

Oct 28 A federal bankruptcy judge has cleared the way for the developer of Inspirada, a nearly 2,000acre housing community near Las Vegas, to emerge from Chapter 11 protection under the control of several big U.S. homebuilders.

U.S. Bankruptcy Judge Bruce Markell in Las Vegas on Thursday approved the reorganization plan for South Edge LLC, which had developed the master planned community in Henderson, Nevada, court papers show.

Inspirada was once expected to have about 11,500 homes but stalled as the Las Vegas housing market collapsed.

The South Edge venture included several builders led by KBHome , with its 48.5 percent stake.

Lenders including JPMorgan Chase & Co , Wells Fargo & Co and Credit Agricole pushed South Edge into bankruptcy in December following a loan default.

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Tags: Bankruptcy

So your son is excited to dress up in his iron man costume, your daughter can’t wait to be Cinderella, and even your dog is ready to sport some angel wings for the big holiday. If you’re like me and you have a house full of trick-or-treaters, your employees are bound to ask you that dreaded question: What are you going to be for Halloween?

If dressing up is not your cup of tea, your answer no longer has to sound so boring. Consider giving your entire company a make-over and go as “green” this October. Companies need to work together to help save the planet, and going green is the best way to make this happen. Running a business can be extremely stressful and time consuming, so worrying about the planet may not be your first priority; however, going green is actually very simple. Consider a few of the ways your company can help the green movement:

By changing your daily habits slightly, your office will make a big difference when it comes to saving the planet. If you

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The total number of bankruptcies filed in Wisconsin in the first nine months of this year were 9.5 percent lower than in the same time period last year.

So far this year, 21,167 bankruptcies have been filed in the state of Wisconsin.  In the first three quarters of 2010, 23,401 bankruptcies were filed across the state.

The most common type of bankruptcy filing has been Chapter 7 bankruptcy.  Chapter 7 bankruptcy allows consumers to eliminate certain dischargeable debts like credit card debt, personal loans, leases, business debts, and more.

Bankruptcy experts say they have seen an increase in small business owners turning to Chapter 7 bankruptcy when their businesses experience financial troubles.

Tags: Bankruptcies 95, Percent

This week on The Broke and the Beautiful, two Florida sports teams are feeling the heat from Scott Rothstein’s bankruptcy trustee. Also, Lenny “Nails” Dykstra motors into a plea deal, and British band UB40 is declared bankrupt.

The NBA’s Miami Heat and the NHL’s Florida Panthers are among many who got money from Ponzi-scheme operator Scott Rothstein’s defunct law firm. According to Bankruptcy Beat, trustee Herbert Stettin growled back at the teams, suing the Heat for $156,000 and suing the Panthers for $31,250. The lawsuits show that Rothstein’s law firm, Rothstein Rosenfeldt Adler PA, paid the Panthers in September 2009 and the Heat in October 2009—not long before Rothstein’s $1.2 billion-plus Ponzi scheme was exposed.

Last time The Broke and the Beautiful mentioned Lenny “Nails” Dysktra, he’d just been arraigned on two counts of indecent exposure. This time, he’s hit home on a plea deal over other alleged criminal activities. The Los Angeles Times rep

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Tags: Rothstein, Scott Rothstein