MF Global may recover some assets under preference, fraudulent transfer, or state law theories. However, at least some innocent clients and payees will end up losing.
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Archive for the ‘News’ Category
Getting MF Global’s Money Back
1 February 2012 by Kelly G. Black | Fraudulent Transfer, News, Preference | No Comments
Chapter 11 Benefits American Companies
26 January 2012 by Kelly G. Black | Continued Control, Eliminate Debt, News, Relief from Creditors, Run Business | No CommentsUSA Today is running an article contrasting US reorganizations under Chapter 11 with foreign bankruptcy and insolvency law. In general, a Chapter 11 case allows management to retain control and run a business under the protection of the bankruptcy court, while proposing a plan to reduce or restructure its liabilities. While US law also allows liquidation, many other countries allow only liquidation, or sometimes a very restricted restricted reorganization. NASDAQ states that Chapter 11 provides American companies a competitive advantage. If you are considering requesting Chapter 11 bankruptcy protection, you should consult with an attorney familiar with Chapter 11 bankruptcies…
Read the Full Article »Twinkies and Wonder Bread File for Bankruptcy: What is to Blame?
17 January 2012 by admin | Individuals and Businesses, News | No CommentsThe company responsible for Ho Hos, Twinkies, and Ding Dongs has announced that it has filed for bankruptcy protection. Hostess Brands filed for Chapter 11 bankruptcy once before, in 2004 when it was under the name Interstate Bakeries Corp. The company recently came out from a financial restructuring process in 2009 with changes that the company now considers “insufficient.” There are several theories as to why Hostess, who also owns the Wonder Bread, Drake’s, and Nature’s Pride brands, has plummeted back into financial distress. An article in USA Today suggests that America’s new eating habits are to blame, claiming that healthier…
Read the Full Article »A Chapter 11 for Bank of America?
20 October 2011 by Kelly G. Black | News | No CommentsThis article claims to be nothing more than speculation. I want to be amused at the picture of Bank of America on the debtor’s side, though the economic situation that may drive such a move is not amusing at all. If you are considering requesting Chapter 11 bankruptcy protection, you should consult with an attorney familiar with Chapter 11 bankruptcies to discuss your options. For a free consultation, call (480) 719-1152.
Read the Full Article »Marie Callender’s Files Chapter 11 Bankruptcy, Closes Arizona Stores
16 June 2011 by Kelly G. Black | News | No CommentsThe company that owns or franchises the Marie Callender’s restaurants has filed for Chapter 11 bankruptcy protection. All Arizona restaurants are closing. Before the filing, the restaurant chain had prepared and sought approval of a restructuring plan. Pre-negotiated bankruptcy plans are increasingly common. Somewhat in conflict with the image of pre-filing preparation is the report that one Seattle location shut down mid-meal. The article does not describe the circumstances that would require such an immediate closure. A pre-approved plan is not required in a Chapter 11 bankrutpcy case, and a case can even be filed on an emergency basis. Wherever…
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