Bankruptcy Information

Hope is on the horizon for Filene’s Basement’s Running of the Brides event.

Brides-to-be intent on duking it out for the perfect white dresses on the cheap should remain calm and perhaps consider pushing off their wedding dates, according to our sources.

While Filene’s Basement has indeed liquidated down to its very last discounted polo shirt, thrown out its store leases and ceased all operations, its intellectual property is now up for grabs. Filene’s Basement LLC and parent Syms Corp., which sought bankruptcy side-by-side in November, are looking to put everything from their trademarks to their domain names on the auction block—including intellectual property associated with what they call the “world renowned” Running of the Brides event.

A purchaser of the Running of the Brides IP would get “all of the history and good will that comes along with it,” Jack Hazan, an executive vice president with Hilco Streambank LLC said in an interview Tuesday.

Syms and Filene’s Basement brought on Hilco Streambank to help them dispose of their intellectual property—assets that the company has no use for now that it has no operations.

Hazan said the Running of the Brides intellectual property could be snatched up by another retail chain or player in the bridal business who could reinstate the event.

“We’re confident that someone’s going to pick this up,” Hazan said. “We’ve had good interest in t

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Tags: Brides, Brides Reincarnation

If you are in a Chapter 13 case, you are required to make monthly payments according to your Plan.  Here is a primer on an easy way to understand how to make chapter 13 plan payments.  The Plan contains your instructions on how much money, if any, will be paid to creditors.  Some payments will be made by you to your trustee; some might be made by you directly to certain creditors if permitted by bankruptcy rules.  The Plan will indicate who you are required to pay and how much will be paid.  In Illinois, payments are due each month on the same date that you filed your case, starting the month after you filed your case.  [The payment start date may vary in some states.] If you filed on the last day of a month, your payments are due on the last day of each successive month.  A chapter 13 bankruptcy can last any length of time from three years up to five years.  To help you remember, you should write your monthly amount and start date in a handy reference area.

Monthly Plan Payment Made By You to the Trustee:

$ _________  beginning  _______  for   36   ____   60   months

[Divide the monthly amount by 4.333 for the weekly amount.  $_________]

[Divide the monthly amount by 2.167 for the biweekly amount. $________]

P

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Tags: 13 Plan, 13 Plan Payments, Payments, Plan Payments

First Solar, Inc. (NASDAQ: FSLR) is getting crushed with an 9% loss in its stock this morning.  The move is on the heels of earnings and a much lowered expectation for 2012 sales.  The question to ask is not just whether or not the short sellers have more room to run on this one.  The question to ask is whether or not the taxpayers will get left hanging here.

Solyndras huge Department of Energy loan implosion was painful enough at about $500 million.  Most investors do not really focus on the notion that First Solar has a large amount of Department of Energy loans.  First Solar ended the most recent quarter with cash and marketable securities of $788 million.

Getting a live tally on all of the Department of Energy loan guarantees is a bit murky, but as of last June it was put around $4.5 billion to First Solar alone. That figure does include a current project, which is being sold. Sadly,

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Tags: First Solar, Fslr

LTRO to boost bank profits, reducing need for loan sales

Managers waiting for opportunities since credit crisis

Some funds sit on cash levels of up to 50 pct

Distressed funds lost 1.8 pct last year HFR

Restructuring opportunities seen better in U.S.

By Laurence Fletcher

LONDON, March 7 Hedge funds stalking distressed assets in Europe may be left with slim pickings after a trillioneuro cash injection from the European Central Bank eased the pressure on banks to dump some of their weaker holdings.

Many fund managers, who have been scenting prey since the credit crisis began, had been hoping European banks would sell off assets such as corporate loans and project finance debt to comply with Basel III global capital adequacy rules, the thrust of which comes into force next year.

However, some managers think the opportunity may have gone for now after the ECB flooded markets with 530 billion euros of cheap cash last week, on top of a 489 billion tranche in December, to try and head off a second credit crunch.

Many believe the cheap money, lent via the Longterm Refinancing Operations at 1 percent for three years, will make life easier for banks by allowing them to boost their profits and avoid asset firesales for the moment.

“Distressed opportunities in Europe are further away than the consensus thinks,” said Girish Reddy, founder and managing partner at Prisma Capital Partners, which manages around $7.5 billion in assets.

“The LTRO is allowing banks to rebuild their balance sheets through profitability.

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Tags: Ltro

This Sunday, the brightest stars in film will don their Marchesa gowns, Harry Winston jewels and Armani tuxes to walk the red carpet at the Hollywood & Highland Center. Wait, where?

Hollywood & Highland is the giant Hollywood entertainment complex that’s home to shops, restaurants and the theater formerly known as Kodak. It’s also the new name that the Academy of Motion Picture Arts & Sciences will use for the venue hosting the 84th annual Academy Awards after the theater became a casualty of Eastman Kodak Co.’s Chapter 11 restructuring.

“It will be live from the Hollywood & Highland Center in Hollywood, California,” Tom Sherak, president of the Academy of Motion Picture Arts and Science, told Los Angeles ABC affiliate KABC Tuesday. “That’s what the landlord has asked us to do, and we’re going to do it.”

To recap: Earlier this month, Kodak requested permission to end, a decade early, a 20-year agreement that gave it the naming rights to the 3,332-seat theater. Kodak was require

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