Bankruptcy at heart of $1.46 billion hotel deal including La Quinta

How Safe is My Home in Chapter 7 Bankruptcy?

Although the California hotel recovery is in full bloom with rising room rates and occupancy, signs of the bad old days during the last economic downturn were still in evidence as a report showed that one of the states largest hotel sales of the year was based on a bankruptcy. The government of Singapores sovereign wealth fund bought the 2,000-acre La Quinta Resort & Club out of bankruptcy in February from New York hedge fund Paulson & Co. and Winthrop Realty Trust of Boston, according to consulting firm Atlas Hospitality Group. QUIZ: How much do you know about California's economy? The 796-room La Quinta, which boasts five golf courses, 23 tennis courts and 535 fireplaces, was one of four hotels sold in a package to the Singapore fund.
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But inside his chambers and outside the courthouse, he presents a softer persona: a bike-riding vegetarian from Ann Arbor who plays rhythm guitar for the American Bankruptcy Institutes quasi-official classic rock house band, the Indubitable Equivalents. Sometimes he even brings his dog to work. That surprised one of the attorneys in the high-profile Collins & Aikman bankruptcy, over which Rhodes presided from 2005-07. So did the speed with which the judge resolved the many contentious issues that arose during the dissolution of the Southfield-based auto supplier. He used his chambers very effectively, said the attorney, who wished to remain anonymous because his firm could still have business before Judge Rhodes. There were a couple of occasions when he summoned the lawyers back there for a good, frank, off-the-record discussion. That is where he met Rhodes dog.
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Time to Bring Bankruptcy Back for Student Loan Debt

He or she cannot indefinitely twiddle his or her thumbs waiting for the market to continue going up while keeping your case open. Make sure to take the "abundance of caution" approach and to be well-informed of the potential risks in your particular case. Bankruptcy is still an option for most homeowners. Do not let the fear of losing your house keep you from considering it. Good luck. Ask the adviser To ask a question of the Bankruptcy Adviser, go to the " Ask the Experts " page and select "Bankruptcy" as the topic. Bankrate's content, including the guidance of its advice-and-expert columns and this website, is intended only to assist you with financial decisions. The content is broad in scope and does not consider your personal financial situation. Bankrate recommends that you seek the advice of advisers who are fully aware of your individual circumstances before making any final decisions or implementing any financial strategy.
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U.S. judge approves Kodak plan to exit bankruptcy

That process, which will be driven by good old-fashioned supply and demand and customer outrage and increased appropriations from broke-ass state governments, will not happen overnight. In the meantimefor the millions of people who are already laboring under loads of student debtit would be nice to allow for a sober and responsible route into bankruptcy for student loan debt, just like there is for other kinds of Bankruptcy Lawyer debt. (If you are the debtor, where your debt came from is less important than the fact that it is crippling you.) That's exactly what the Center for American Progress calls for in a new report : reasonable standards to ensure that student loans can probably be repaid, combined with bankruptcy eligibility for those loans that will be the hardest to repay. The way to approach this issue, however, is to establish clear and public standards for what we at the Center for American Progress refer to as Qualified Student Loans, or loans that cannot be easily discharged in bankruptcy, which has been done for other types of financial products as a way to identify safer financial products. Qualified Student Loans would include loans, both federal and private, that have reasonable repayment conditions such as low interest rates and access to favorable forbearance, deferment, and income-based repayment options. These loans would also be qualified based on the successful track records of the institutions and programs receiving the proceeds as a way to ensure that these are programs thatby virtue of their graduate employment ratesgive graduates a reasonable chance to repay.
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Bankruptcy judge has tough-but-fair reputation

The green light from U.S. Bankruptcy Judge Allan Gropper in New York puts Kodak on track to exit bankruptcy in about two weeks. "It will be enormously valuable for the company to get out of Chapter 11 and hopefully begin to regain its position in the pantheon of American business," Gropper said. Kodak, based in Rochester, New York, was for years synonymous with household cameras and family snapshots. It filed a $6.75 billion bankruptcy in January 2012, weighed down by high pension costs and a years-long delay in embracing digital camera technology.
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