Detroit bankruptcy judge orders mediator to handle union talks
To qualify for Chapter 9 bankruptcy protection, municipalities must meet a series of eligibility criteria. Among them: The city must have the states authority to file for bankruptcy. Related: Analysis shows Detroit pension funds in better shape than Orr says The pension boards plan to argue that Michigan Gov. Rick Snyder didnt have the authority to file without ensuring that retiree pensions would be protected from cuts, Babiarz said. Snyder signed off on Detroit emergency manager Kevyn Orrs decision to place the city into bankruptcy court on July 18. The pension funds are arguing he should have prohibited Orr from pursuing pension cuts. A spokesman for Orr was not immediately available for comment. The Michigan Constitution protects public pensions as a contractual obligation that cannot be diminished or impaired. But Orr has argued federal bankruptcy law, which allows contacts to be severed, pre-empts the state constitution and allows significant cuts. Babiarz would not say whether the pension boards also plan to argue the city did not negotiate in good faith or whether the pension board plans to argue the city is not insolvent.
For the original version including any supplementary images or video, visit http://www.freep.com/article/20130815/NEWS01/308150166/Detroit-bankruptcy-eligibility-objection
Bank officials say the rent for one property on James Street and two others on Lincoln Park belongs to them. Wells Fargo does not consent to the debtors use of Wells Fargos rents, the banks attorney, Scott Bernstein, writes in court papers. In 2011, the bank agreed to loan WISOMMM the $8.2 million so it could refinance debt and renovate its three properties. Now, its seeking the judges approval to move ahead with foreclosure proceedings in state court. Gambardella is expected to select Howard Fielstein, a New York City forensic accountant, as the trustee, according to Fran Steele, a trial attorney with the Office of the U.S. Trustee in Newark. Steeles office spent the past few days vetting Fielsteins background to insure he didnt have a conflict of interest with any parties to the bankruptcy, lawyers said Friday in court.
For the original version including any supplementary images or video, visit http://www.nj.com/essex/index.ssf/2013/08/newark_bankruptcy_judge_will_name_trustee_to_dig_into_foundation_run_by_fredrica_bey.html
Picture overload makes me want to declare 'photo bankruptcy'
More than 40 unions represent Detroit's 9,000 public sector workers. Michigan Governor Rick Snyder, a Republican, appointed Emergency Manager Kevyn Orr in March to fix the city's finances. Orr has a broad range of powers and filed for bankruptcy on July 18 after offering creditors pennies on the dollar. Detroit's bankruptcy is the largest such municipal case in U.S. history. The city has more than $18.5 billion in long-term debt, and the court battle with its creditors is expected to be protracted and very expensive.
For the original version including any supplementary images or video, visit http://www.reuters.com/article/2013/08/16/us-usa-detroit-mediation-idUSBRE97F0M820130816
Newark bankruptcy judge will name trustee to dig into foundation run by Fredrica Bey
go to website Finance Sat, Aug 17, 2013, 1:13 AM EDT - U.S. Markets closed San Diego Bankruptcy Attorneys at the Golden State Law Group Respond to Positive Debt Report The San Diego Bankruptcy Lawyers at the Golden State Law Group, URL http://www.goldenstatelawgroup.com, Respond to a Positive Debt Report Filed by UPI Thu, Aug 15, 2013 2:49 PM EDT Print Related Content SAN DIEGO, CA--(Marketwired - August 15, 2013) - The San Diego bankruptcy lawyers at the Golden State Law Group have been helping clients who have encountered serious financial difficulties for several years.The firm represents consumers and businesses that need to reorganize or to eliminate unmanageable amounts of debt, and the attorneys at the firm also help deal with tax debt, criminal defense issues and personal injury matters.The bankruptcy attorneys at the firm would like to respond to a recent report that was run by the UPI that involved an analysis of the amount of debt owed by Americans. The UPI report, which can be found here , stated that data released by the New York Federal Reserve Bank revealed a trend of American consumers relying less on credit during the second quarter of 2013 as compared to previous quarters.The Household Debt and Credit Report stated that consumer debt dropped by $78 billion overall during the second quarter of 2013 and that total indebtedness dropped by a factor of 0.7 percent to $11.15 trillion.This level was well below the high point of $12.68 trillion, which was reached in 2008. While the report stated that consumer debt was now at the lowest point overall since 2006, many of those drops were related to mortgage debt and home equity debt, which fell by $91 billion and $12 billion in the second quarter respectively.Finally, bankruptcy filings that were added to the credit reports of consumers fell by a factor of 4.8 percent when compared to the second quarter of 2012.This marks the 10th consecutive quarter in which bankruptcy filings fell when compared to the previous year. However, there were some negative notations in the UPI article.Debt that was not related to housing rose during the second quarter by a factor of 0.9 percent with car loans rising by a factor of $20 billion.Student loan debt and credit card debt also increased by factors of $8 billion in the second quarter as compared to the previous quarter. "While the drop in overall indebtedness is a positive, the facts that student loan debt and credit card debt both continued to rise could signal problems for many consumers in the future," said David Weil of the Golden State Law Group. "We have seen too many situations where credit card debt, student loan debt or both have become unmanageable for consumers and we would suggest that those borrowing in this manner do so with extreme caution," Weil added. About the Golden State Law Group The Golden State Law Group is a law firm in San Diego, California that's comprised of a team of San Diego bankruptcy attorneys who provide legal help to consumers and businesses.Specifically, the attorneys at the firm provide help to consumers in the legal areas of student loan debt problems, medical bill issues, consumer bankruptcy, business bankruptcy, tax debt issues and personal injury cases. Contact:
For the original version including any supplementary images or video, visit http://finance.yahoo.com/news/san-diego-bankruptcy-attorneys-golden-184916125.html
San Diego Bankruptcy Attorneys at the Golden State Law Group Respond to Positive Debt Report
Still, at least I feel my iCloud photos aren't going to accidentally get made public if some engineer, or myself, ticks the wrong box. There seems to be so much potential for Apple to do more here by using iPhoto as a front-end for organization or by making it a more robust Web-based service. Will the company do so? I still keep meaning to go back to Picturelife and Everpix to explore those services more, as they seem so promising. I will, I will! But then there are even more issues. When I shoot five pictures in a row to tweet something about an old "Star Trek" TV show I'm watching, do I really want those "disposable" images going into my photo collection? Or when I have a ton of screenshots I make for work purposes, do I want those mixing in with my family photos? Is there an easy solution to managing this?
For the original version including any supplementary images or video, visit http://news.cnet.com/8301-33620_3-57598717-278/picture-overload-makes-me-want-to-declare-photo-bankruptcy/
No comments:
Post a Comment