Law Suit Filed: Nevada Foreclosure Companies Face Illegal Debt Collection Class Action

What are you looking for? Home Page >> Lawsuits Filed >> Lawsuit: Nevada Foreclosure Companies Face Illegal Debt Collection Class Action Nevada Foreclosure Companies Face Illegal Debt Collection Class Action Please click here for a free evaluation of your claim Las Vegas, NV: A foreclosure class action lawsuit has been filed on behalf of 16 Nevadans against five companies hired by banks and lenders to handle the foreclosures on properties owned by the http://the-bankruptcydirectory.com/ plaintiffs and one additional defendant who purchased property through the foreclosure process. The lawsuit claims illegal debt collection activities and deceptive trade practices by the defendants against the plaintiffs during the foreclosure process as the defendants were not licensed or registered in the State of Nevada to carry out the foreclosure process. The plaintiffs are Nevadans who not only lost their houses in one of the hardest hit real estate markets, but were also adversely affected by foreclosure companies that did not follow the law during the foreclosure process. The lawsuit names as defendants: Quality Loan Service Corporation; Appleton Properties, LLC; MTC Financial, Inc. dba Trustee Corps; Meridian Foreclosure Service dba MTDS, Inc. dba Meridian Trust Deed Service; National Default Servicing Corporation; and California Reconveyance Company. The lawsuit seeks to compensate the plaintiffs and compel the defendants to surrender all fees collected for many thousands of foreclosures during the time they were operating illegally. The case was filed as a class action lawsuit because there are thousands of potential plaintiffs who were victims of these foreclosure companies. The lawsuit alleges that the debt collection activities of the defendants are and/or were illegal and improper because each of the defendants did not hold a license to engage in debt collection activities in the State of Nevada and each also failed to register as a foreign debt collection agency with the Nevada Financial Institutions Division. The illegal and improper debt collection activities include the issuance of debt-related notices, demands, collection communications and/or foreclosure sales and processes. In addition, the plaintiffs also claim deceptive trade practices, consumer fraud, unjust enrichment, trespass, quiet title and in two instances, elder abuse. Plaintiffs are asking for compensatory and consequential damages in excess to $10,000, disgorgement of any amounts paid to defendants for their respective illegal and improper debt collection activities, attorney's fees and injunctive relief. Nevada Illegal Foreclosure Class Action Legal Help If you or a loved one has suffered damages in this case, please click the link below and your complaint will be sent to a lawyer who may evaluate your claim at no cost or obligation.
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Bankruptcy Judge Approves Sale Of 43 Belle Foods Stores To Awg

GateHouse Files for Bankruptcy as Part of Fortress Plan

Bankruptcy Court for the Northern District of Alabama. AWG is a direct competitor to C&S Wholesale Grocers in the wholesale grocery business. C&S is Belle Foods primary creditor, holding $42 million in debt the bankrupt grocer owes in loans and for merchandise. Because C&S is not getting $42 million in the auction, it had the right to reject the auction results, a right it reserved up until a hearing today to approve the sale. AWG and its buyers were hoping for quick approval of their purchase based on some stores scheduling inventories to take place this weekend and sales to close on Monday. However, the entire deal was in some danger of falling apart when C&S withheld its approval over some sticking points. We are either going to have a deal with the C&S group today or we are not, Mark Benedict, an attorney for AWG, told Judge Caddell when asking for more time to negotiate.
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Other secured creditors will have the option of converting their debt into cash at 40 percent of par or stock in New Media Investment Group Inc., a new holding company that will own GateHouse and Local Media Group, GateHouse said in its statement today. The prepackaged plan proposes a balance-sheet restructuring, by which GateHouse will emerge from bankruptcy with much less debt on its balance sheet, but with its business operations completely intact, Reed said in the statement. Sufficient Cash GateHouse has enough cash to operate in bankruptcy and doesnt need or plan to obtain debtor-in-possession financing, Reed said. Kruger Inc., a Montreal-based pulp-and-paper producer, is listed as GateHouses largest unsecured creditor with a $1.2 million claim. GateHouses 78 daily newspapers serve 10 million people in 21 states, according to the companys website . It also owns 91 advertising-only shoppers, 235 weekly newspapers, 350 locally focused websites and six yellow-page directories. GateHouse merged with a Fortress unit, FIF III Liberty Acquisitions LLC, in 2005, according to regulatory filings.
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GateHouse Media Files Prepackaged Chapter 11 Bankruptcy to Complete http://attorney-in-rancho-cucamonga.com/more-information/bankruptcy/ Secured Debt Restructuring

The organization raised $1.5 million outside of Kickstarter campaign, according to Heller. "The odds have been against us for a long time," George Steel, general manager & artistic director for the company, said in an online video, "but in the face of that difficulty we have made tremendous progress." The company, dubbed "The People's Opera" by former NYC Mayor Fiorello LaGuardia, was founded on the principle that every New Yorker should be able to afford to go to the opera, Steel said. Steel explains that in order for the company to break even, it would need to sell every ticket for $600, but instead the starting ticket price is actually $25 to make it more affordable. The New York City Opera received critical praise in the past for its world premieres of work including Robert Ward's "The Crucible" and Anthony Davis' "The Life and Times of Malcolm X." The company opened its current season on September 17 with the opera "Anna Nicole," and should it fail to raise the necessary funds by Monday, that could be the Company's last production. "We need the help of the people we were founded to serve to put on our season this year," Steel said, speaking to New York residents and opera fans everywhere. "We need you to come together and carry it forward into the future.
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New York City Opera sings the blues over finances, faces possible bankruptcy

An NBC Universal spokesman would not elaborate beyond the statement. In a two-paragraph statement issued Friday night, the Astros indicated that they had issues with the NBC Universal-Rockets-Astros partnership that also could have led to litigation or, at least, potential changes in the partners relationship. Comcast has improperly filed an involuntary bankruptcy petition in an attempt to prevent the Astros from terminating the Media Rights Agreement between the Astros and Houston Regional Sports Network, the statement said. HRSN failed to pay the Astros media rights fees in July, August and September, and we have invested additional money in order to keep the network viable through our season. Despite not receiving our media rights fees, our objective has not changed.
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CSN Houston bankruptcy filing surprises Astros

Upon emergence, we will be under common ownership with Local Media Group, a company with a strong community media presence and performance that operates eight daily community newspapers and thirteen weeklies. Joining with Local Media Group will be an important step in growing our business and will contribute to our future success as the pre-eminent source for locally focused content, covering and serving our subscribers, advertisers and customers through print, online and other digital products, including mobile applications." Pursuant to its plan support agreement, GateHouse solicited votes on the plan over the past week from holders of claims under its 2007 secured credit facility and certain related interest rate swaps. The plan was accepted by the only impaired class of creditors entitled to vote on it. Specifically, 79 out of the 80 holders of secured debt entitled to vote holding an aggregate amount of $1,199,317,153 (representing 99.99% of the total secured debt) voted to accept the plan. No creditors voted to reject the plan. Pension, trade and all other unsecured creditors of GateHouse would not be impaired under the prepackaged plan, and their votes were not solicited. GateHouse's common stock would be canceled under the plan, and holders of secured debt would have the option of receiving a cash distribution equal to 40% of their claims, or stock in New Media Investment Group Inc., a new holding company that will own GateHouse and Local Media Group. GateHouse, which operates in 330 markets across 21 states, intends to continue to operate its business without interruption as a "debtor-in-possession" under the jurisdiction of the bankruptcy court. According to Reed, GateHouse has sufficient cash to operate during the chapter 11 process and does not need, nor does it intend to obtain, debtor-in-possession financing.
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Settlement: Ameriprise Agrees Preliminary Settlement In Securities America Investor Class Action

Home > Settlements > Ameriprise Agrees Preliminary Settlement in Securities America Investor Class Action Ameriprise Agrees Preliminary Settlement in Securities America Investor Class Action April 13 2011 New York, NY: A preliminary settlement has been reached by Ameriprise Financial and its brokerage unit, Securities America Inc, and clients who allege in they lost roughly $400 million on fraudulent private placements. The preliminary agreement would see Securities America pay $80 million, further to a separate agreement in which SA has agreed to pay $70 million. If approved, the settlement would mean a recovery of 40 cents on the dollar, after fees. If approved, the majority of the settlement will be paid by Ameriprise. Legal Help If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please fill in the form to the right. Request Legal Help
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Detroit Accident Victim Not Exempt From Stay On Lawsuits, Bankruptcy Judge Rules

Belle Foods bankruptcy auction hopes to ring up high bids

10, Beydouns lawyer argued that the city acted in bad faith by filing for bankruptcy to avoid paying the judgment award. The governor and (emergency manager Kevyn) Orr say Detroit could have filed 10 years ago, so why, 10 days after the bond request for $2 million, did they file? said attorney Raymond Guzall II of Farmington Hills. Jeffrey Ellman, a lawyer for the city, said the totality of the citys debts and not any one issue drove the city to file for bankruptcy. The city also argued that allowing the continuation of actions such as this would undermine the protections of the automatic stay and jeopardize the citys efforts to restructure. During the hearing, Rhodes asked why Beydoun should be given favored status over more than 100,000 other unsecured creditors, including pensioners at risk of losing benefits. In his order denying Beydouns motion, Rhodes wrote: When an unsecured creditor like Beydoun seeks relief from the automatic stay to pursue collection from a debtor, there is significant potential harm to other creditors, because if successful, the creditor will be paid in his claim and promptly so, while other creditors are stayed. This would be fundamentally unfair to them regardless of the asserted grounds for relief. Accordingly, the court finds that the motion does not state sufficient cause for relief from the automatic stay. Guzall said the judge made a mistake and did not follow the law.
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Bankruptcy Judge Steven Rhodes today scheduled a hearing for 10 a.m. Oct. 2 to consider the NAACPs argument that its ongoing challenge to the states emergency manager law should be allowed to proceed outside of bankruptcy court. The Michigan and Detroit chapters of the NAACP joined with Donnell White, Thomas Stallworth III, Rashida Tlaib and Maureen Taylor to file a lawsuit in May seeking to overturn the emergency manager law as unconstitutional because it infringes on voter rights. Their lawsuit, filed in May in the U.S. Eastern District Court of Michigan, was immediately delayed by Detroits bankruptcy case.
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Archway Museum Cleared to Leave Bankruptcy

30, by William D. White using Legalzoom. Other buyers that would operate stores as part of AWGs stalking horse bid are: HAC Inc. taking the Georgia stores in Monroe, Dawson, Milledgville (North Columbia and Wane Street stores), Macon, Cochran, Eastman, Gordon, East Dublin and Warner Robbins along with the Troy, Ala., store. Triple V taking three stores in Tuscaloosa and one in Meridian, Miss. Mitchell Grocery taking stores in Alabaster, Scottsboro, Florence, Decatur, Muscle Shoals and Atmore, Ala.
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Bankruptcy judge to decide whether NAACP's emergency manager challenge can proceed

Under the right circumstances, creditors can file an involuntary petition and force the debtor to address issues of insolvency. The major requirements are a certain number of creditors, the debtor is generally not paying debts, and the petitioners must chose the bankruptcy chapter, in this case, chapter 7, which means liquidation. An involuntary petition works like a complaint, asking the court to declare that the company should be put into bankruptcy. The company has 21 days to content the involuntary petition. Or, it can respond with its own voluntary chapter 11 filing. Before the four companies filed the involuntary petition against BlegalBloss, Pratt Corrugated Holdings Inc.
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Citizen objectors to Detroit bankruptcy get day in court

With a bankruptcy judges signature, the Chapter 11 exit plan for the Great Platte River Road Archway has canceled the 13-year-old museums promise to pay back more than $19 million worth of bonds that were used to construct it. The pioneer-honoring museuma 1,500-ton structure that sits atop beams that straddle Interstate 80intends to pay back those investors a total of $50,000, according to the plan filed with the U.S. Bankruptcy Court in Lincoln, Neb. The bankruptcy-exit plan approved last week by Judge Thomas Saladino leaves it pretty much debt-free. Officials said that the museums heavy debt burden made it tough to rally donations. If it managed to clear those debts through bankruptcy, they said that the attraction would be able to pay for its operations using donations and tickets sales, which cost $12 for most adults. Some are hoping for an attendance boost from a new highway interchange that recently opened closer to its entrance. The Archway museums annual attendanceroughly 60,000 visitorshas declined every year since it opened, according to museum officials.
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Cincinnati startup being forced into bankruptcy

(Daily Bankruptcy Review and DBR Small Cap http://cortrightlaw.com/bankruptcy are daily newsletters with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit our homepage , scroll to the bottom and click try for free.) LightSquared lenders balked at the selection of an independent committee to oversee a sale, WSJ reports . Casino-tax revenue has become an issue in Detroits Chapter 9 bankruptcy case, DealBook reports . U.S. regulators fined Toronto-Dominion Bank $52.5 million over its alleged role in imprisoned attorney Scott Rothsteins $1.2 billion Ponzi scheme. Read the DBR Small Cap article via The Wall Street Journal . Videogame maker Atari Inc.
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The Daily Docket: Lenders Ease Pressure in OSG Bankruptcy

Retired Detroit worker Olivia Gillon was one of the 110 people who were given 3 minutes each Sept. 19, 2013, to object to the Detroit bankruptcy in U.S. District Court. (Photo: Kathleen Galligan, Detroit Free Press) Story Highlights Oct. 23 is the date for an trial to determine whether Detroit is eligible to file bankruptcy Retirees objected to use of pension money to help city get out of debt, reducing their benefits Few at hearing supported decision to file for bankruptcy protection SHARE 29 CONNECT 24 TWEET 3 COMMENTEMAILMORE DETROIT After hearing from area residents objecting to Detroit's bankruptcy filing , Judge Steven Rhodes said Thursday he will urge the governor and emergency manager to listen to a recording of the session. About 50 people addressed the judge to argue that the city is not eligible for Chapter 9 bankruptcy. STORY: Detroit files bankruptcy The objectors argued that Detroit emergency manager Kevyn Orr is not authorized to place the city in bankruptcy, Detroit is not in dire financial condition and the city should not be allowed to cut pensions. "I think the emergency manager should not have the right to use the city pension system to balance the city's debt," city retiree Michael Abbott said. "I appreciate you considering that." Hassan Aleem, one of the 110 individual objectors, said Orr should not be allowed to place the city in bankruptcy court because, he said, "only an elected official can file for bankruptcy." Stripped of the legalese that typically dominates bankruptcy court, the hearing was marked by emotional pleas for Rhodes, the federal bankruptcy judge assigned to Detroit's case, to remove Orr's authority and protect retiree pensions.
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Settlement: Bank Of America Reaches $500m Settlement

Home > Settlements > Bank of America Reaches $500M Settlement Bank of America Reaches $500M Settlement April 17 2013 New York, NY: Bank of America has reached a settlement in the pending securities fraud class action lawsuit brought by investors who purchased mortgage investments from Countrywide Financial. BoFA acquired Countrywide in 2008. The proposed settlement would see BoFA pay $500 million to settle the Bankruptcy Lawyer lawsuit, which would be paid out to plaintiffs that include Dubai's Mashreq Bank and public and union pension funds in California, Maine, Nevada, Vermont and Washington states. The plaintiffs claimed they were misled about the risks of securities they bought from California-based Countrywide between 2005 and 2007. The settlement surpasses the $315 million accord reached with Merrill Lynch in May 2012, making it the largest to resolve federal class-action litigation over mortgage-backed securities since the financial crisis began. The accord requires court approval. Legal Help If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please click the link below. Request Legal Help
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Anguish In Court As Detroit Residents Object To Bankruptcy Filing

The Daily Docket: Detroit Residents Speak out to Bankruptcy Judge

Johnson choked back tears as she recalled a conversation with her 9-year-old grandson. Referring to the control Bankruptcy Attorney of the city by emergency manager Kevyn Orr, an unelected official, her grandson asked, "Grandma, are they trying to make us slaves again?," Johnson said. Rhodes listened attentively throughout the long stream of testimony, granting some speakers additional time to finish their thoughts. He even encouraged one person to submit his lengthy testimony in writing when he was unable to finish in the allotted time. Bruce Bennett, an attorney with Jones Day representing the city, said that though bankruptcy "is never a good thing," Orr and the attorneys were aware that their decisions affect residents and retirees.
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Bankruptcy rate low in BR

The key obstacle to the EU deal is the incarceration of former Ukrainian Prime Minister Yulia TymoshenkoPhoto: AFP Follow Speaking at a conference in the Black Sea city of Yalta, Russian presidential adviser Sergei Glazyev dismissed the benefits of a planned treaty as "mythology". He warned that tariffs and trade checks that Russia would impose after the deal could cost Ukraine billions of dollars and result in a default. "Who will pay for Ukraine's default, which will become inevitable?" Mr Glazyev asked. "One has to be ready to pay for that." Saying that a default would cost Ukraine "25 or even 35 billion euros", he asked: "Would Europe take responsibility for that?" Russia is opposing Kiev's plans to sign a free-trade and political association agreement with the 28-member bloc in November, which would be a major step towards possible eventual membership. Related Articles A cultural guide to Lviv 19 Sep 2013 Determined not to lose sway over his neighbours, Vladimir Putin instead wants lure Kiev into the Moscow-led Customs Union for former Soviet states. Moscow raised the pressure on Ukraine over the summer by banning the products of a major chocolate maker in Russia and by temporarily halting some Ukrainian imports at its border. Petro Poroshenko, a former trade minister and confectionery magnate, clashed with Mr Glazyev at the 10th annual meeting in Yalta, organised by the pro-European Ukrainian billionaire Viktor Pinchuk over the weekend.
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Russia threatens Ukraine with bankruptcy over plans to sign EU agreement

Morgan Chase & Co. will pay more than $920 million to settle the London whale case. The New York Post reports that Department of Justice official Richard Breeden is giving some answers about when Bernard Madoff victims will get paid. Law professor Stephen Lubben speaks via Credit Slips on Chapter 11 cases and the Federal Reserve. Fiat SpA President Sergio Marchionne has a new union ally to help with Chrysler talks, WSJ reports . Stock shares are rising at U.S. Airways Group Inc. in a sign of investor optimism on its merger with American Airlines, Bloomberg reports .
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Second Adviser Working with Bloom will be Lazard managing director Andrew Yearley, said three of the people. Yearley was lead adviser to the United Auto Workers union in negotiating with the U.S. Treasury in the GM and Chrysler bailouts. Bloom, 58, rejoined Lazard in February 2012 after resigning in August 2011 from a White House post advising Obama on manufacturing topics. Orr, 55, who advised on the Chrysler restructuring, left the law firm Jones Day in March to take the job overseeing Snyders takeover of Detroit. The industry bailout that Bloom led and Orr advised on has U.S. auto sales poised for the fifth straight year of annual increases. Chrysler has had 41 straight months of gains and GM has said it expects a modest improvement over its $6.19 billion in earnings in 2012 as it heads for its fourth consecutive annual profit.
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Federal bankruptcy court moving back into Robert S. Vance Federal Building and U.S. Courthouse after $43.4 million rehab project

According to Muwwakkil, the project repairs and replacements of major building systems included: the heating and air conditioning system, electrical, lighting, roof, plumbing; exterior wall, structural and foundation repairs; handicap accessibility and security requirements; storm water management; window restoration; increasing the tenant capacity of the building; and other repairs. The project included recycling and salvaging at least half of the waste materials generated during construction and installing a rainwater cistern to irrigate the landscape and offset water supply to the plumbing system, Muwwakkil stated. These are only a couple of the features that will help the facility meet rigorous federal building standards and achieve the U.S. Green Building Council's LEED Silver certification. The final project cost of $43.4M accounted for unforeseen challenges encountered during rehabilitation of the 1920s era building, including the need for asbestos abatement, significant structural repairs, fireproofing and lead paint removal, among other items, Muwwakkil stated. Hoar Construction LLC is the general contractor on the project. More than half the project has been awarded to small businesses and in all about 150 jobs created as a result of the project, Muwwakkil stated. The 173,993-square-foot four-story - plus basement - marble and brick neo-classical structure was built in 1921 to house the post office and federal agencies.
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Obama Auto Czar Bloom Said to Face Ex-Ally in Detroit Bankruptcy

And adding the moment, the opposing pitcher is a former Royals hero. Justin Maxwells grand slam deep into the left-field bullpen lifted the Royals over the Rangers 4-0. Maxwell turned on Joakim Sorias fastball and the large Kauffman Stadium crowd roared the approval. Justin Maxwell good to the last swing for Royals With one chill-inducing 421-foot swat to left, Justin Maxwell delivered a 4-0 10-inning victory over the Texas Rangers, the Royals first winning season in a decade and second since 1994, kept their playoff hopes afloat, albeit remote, and triggered a delirious celebration as a signature of the season to the home fans.
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Law Suit Filed: Fisker Employment Lawsuit

Home > Lawsuits > Fisker employment lawsuit Fisker Faces Employment Class Action Lawsuit Over WARN Act Violations April 9 2013 Houston, TX: An employment class action lawsuit has been filed against Fisker Automotive for failure to provide 60 days notice to employees who were part of recent mass layoffs. Those layoffs are in violation of US and California labor laws. Specifically, the US Worker Adjustment and Retraining Notification (WARN) Act, a federal http://attorney-in-rancho-cucamonga.com/more-information/bankruptcy/ law, stipulates that companies with over 100 employees must provide 60 days notice prior to laying off their employees. There is also a similar requirement in place under California state law. The employment lawsuit against Fisker alleges the company failed to pay the employees their 60 days pay and benefits that they would have been received had they been provided their duly entitled 60-day notice. Further, the lawsuit claims Fisker failed to notify California's state Employment Development Department of its layoff plans, as well as the local workforce investment board, as well as the top elected officials in Anaheim and Orange County. Fisker Employment Class Action Legal Help If you or a loved one has suffered similar damages or injuries, please fill in the form to the right and your complaint will be sent to a lawyer who may evaluate your claim at no cost or obligation. Last updated April 9 2013 Request Legal Help
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Obama Auto Czar Bloom Said To Face Ex-ally In Detroit Bankruptcy

Federal bankruptcy court moving back into Robert S. Vance Federal Building and U.S. Courthouse after $43.4 million rehab project

Constitution because it interferes with Michigans sovereignty. In business cases, the types in which Orr has more experience, federal courts have routinely upheld the power of bankruptcy judges to impair or cancel contractual rights, even those protected by state laws. Before joining Jones Day , Orr held several U.S. government jobs, including director of the Justice Department unit that oversees bankruptcy cases and trustees, according to the law firm. As an adviser to the United Steelworkers for 13 years, and before that as a manufacturing specialist at Lazard and his own boutique investment firm, Bloom participated in more than 100 bankruptcies and restructurings, trying to balance the realities of business with the need for jobs, he said in a 2010 interview. The case is City of Detroit, 13-bk-53846, U.S. Bankruptcy Court , Eastern District of Michigan (Detroit).
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More Thomasville stores to close in bankruptcy aftermath

The first day of bankruptcy hearings in the newly renovated building will be Sept. 30, said Scott Ford, clerk of the U.S. Bankruptcy Court of the Northern District of Alabama. The bankruptcy court judges and clerks are excited to be moving back into the Vance building and "are thankful for the renovations that repair and preserve this building for the public we serve," Ford said. Saudia Muwwakkil, regional public affairs officer with the General Services Administration, stated in an email response to questions that the GSA had substantially completed the rehabilitation project on schedule by Aug. 1. During its two years, the American Recovery and Reinvestment Act-funded project generated about 150 jobs and over $21 million in small business contract awards, she said. The project did have a big hiccup in March when a fire broke out on the roof , but firefighters were able to quickly contain it. All agencies that had been housed in the building, including the bankruptcy court and offices for Sen.
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Bankruptcy judge in Erie puts lawyer under close watch

Mazzei was set to receive $1,000 for each of those filings until Agresti stepped in to stop what he described at a May 10 hearing as a potential "money grab." "I think the place just runs amok," Agresti said of Mazzei's law office. Mazzei defended his handling of the cases under review but agreed to accept any changes Agresti orders his firm to undertake when the expert's report is done. Agresti has declined to file a complaint against Mazzei with the Disciplinary Board of the Pennsylvania Supreme Court, though he said others could do so. He said on May 10 that his main goal is to make sure "a new world order" takes hold at Mazzei's practice. "I appreciate it," Mazzei told Agresti. "We've been trying hard to comply with the court's requests. ...
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Furniture Today reports that Furniture Brands, which announced its bankruptcy this month, will close 14 corporately-owned Thomasville stores within the next two months across the country. (visit site) That's in addition to the closing of a Drexel Heritage store and five company-owned Thomasville stores, including one in High Point. Furniture Brands officials are hoping that the bankruptcy will allow the company to emerge as a stronger business. The company's stability moving forward will be significant to the Triad, where Furniture Brands employs a work force of about 800 people across all of its brands, including at the headquarters for Thomasville in Davidson County and Drexel Heritage in High Point. Katie Arcieri covers manufacturing, transportation/logistics, aviation, textiles, tobacco and furniture. Contact her at (336) 370-2913.
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Law Suit Filed: Jpmorgan Chase Accused Of Fraud In Bankruptcy Filings

What are you looking for? Home Page >> Lawsuits Filed >> Lawsuit: JPMorgan Chase Accused of Fraud in Bankruptcy Filings JPMorgan Chase Accused of Fraud in Bankruptcy Filings Please click here for a free evaluation of your claim Newport Beach, CA: A consumer fraud class action filed against JPMorgan Chase alleges the bank routinely fabricated documents to deceive bankruptcy judges. The lawsuit, filed by Ernest Michael Bakenie, states "Through the use of fabricated assignments, endorsements and affidavits that purport to transfer deeds of trust, notes and the rights to all monies due under the terms of tens of thousands of non-negotiable promissory notes (the 'MLNs'); Chase has demonstrated a pattern and practice of playing 'hide-and-seek' with debtors, judges and other bankruptcy players." Bakenie further claims that Chase's "pattern and practice of playing 'hide-and-seek' with debtors, judges and other bankruptcy players" resulted in the bank securing motions for relief of stay and proofs of claim in 95 percent of its cases. According to the lawsuit, an extensive network of attorneys working for Chase filed more than 7,000 motions for relief from automatic stay in bankruptcy cases in the Central District of California, "wherein they falsely claim to be the party entitled to monies due under the terms of MLNs." The lawsuit also claims that Chase rewards attorneys based on how quickly they can secure the stays, and uses fabricated documents to establish chain of title on loans. Essentially, the lawsuit claims, "Rather than incur the cost of 'proving up' its own standing or the standing of its principal Mortgage Backed Security Trust, Chase systemically misrepresents Chase or a designated MBST to be a creditor in tens of thousands of bankruptcy cases by utilizing manufactured documents. " The lawsuit also claims "That said practice allows Chase to dump defaulted loans that were never properly securitized by Washington Mutual (WAMU) and other originators acquired by Chase into private mortgage backed security trusts by creating the illusion of a valid transfer. Said practice shifts the liability of defaulted loans not properly securitized by WAMU, from Chase to private mortgage backed security trusts. The practice allows Chase to effectively mitigate the millions of dollars in liability of the WAMU acquisition, where WAMU failed to transfer MLNs of its portfolio before its demise. Said practice shifts losses from WAMU to MBST bond investors." Bakenie seeks class certification, compensatory, statutory and punitive damages for unfair and deceptive trade, disgorgement and "an order vacating all bankruptcy orders, claims and awards granted based on Chase's misrepresentation and deceptive business practices". Chase Bankruptcy Fraud Class Action Legal Help If you or a loved one has suffered damages in this case, please click the link below and your complaint will be sent to a lawyer who may evaluate your claim at no cost or obligation.
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City Clerk Candidate Says Personal Bankruptcy Won't Affect Ability To Do The Job

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Settlement: Wells Fargo Ordered To Pay $203m In Overdraft Fees Class Action Settlement

Home > Settlements > Wells Fargo Ordered to Pay $203M in Overdraft Fees Class Action Settlement Wells Fargo Ordered to Pay $203M in Overdraft Fees Class Action Settlement May 16 2013 San Francisco, CA: US District Judge William Alsup has issued an order to reinstate a $203 million judgment against Wells Fargo Bank. The judgment is based upon the court's findings, as affirmed on appeal by the Ninth Circuit, that Wells Fargo violated California's unfair competition law by deceiving its customers that debit card purchases would be posted chronologically to their accounts when in fact Wells Fargo posted them in a high-to-low order for the sole purpose of generating overdraft fees. The case before Judge Alsup was brought on behalf of California Wells Fargo customers who, from November 15, 2004 to June 30, 2008, incurred overdraft fees on debit card transactions as a result of the bank's practice of sequencing transactions from highest to lowest. On August 10, 2010, Judge Alsup issued a 90-page opinion finding that Wells Fargo manipulated its processing of customer debit card purchases by its California customers, and made misleading statements to consumers regarding is resequencing practice, to maximize overdraft fees in violation of California's Unfair Competition Law. This practice had the greatest impact on the bank's low income customers because their accounts often had the smallest balances. As noted above, instead of posting transaction chronologically, Wells Fargo deducted the largest charges first, drawing down available balances more rapidly and triggering a higher volume of overdraft fees. Judge Alsup ordered that Wells Fargo return to its customers approximately $203 million in restitution and enjoined the abusive accounting practices. Judge Alsup's August 10, 2010, decision followed two and half years of extended litigation that culminated in a two-week bench trial which ended in May 2010. On September 9, 2010, Wells Fargo filed an appeal with the Ninth Circuit Court of Appeals. On December 26, 2012, the appellate court issued an opinion upholding and reversing portions of Judge Alsup's order, and remanded the case to the district court for further proceedings. The appellate court found the National Bank Act preempted application of state law to Wells Fargo's decision to use high-to-low posting. Importantly, the appellate court also found that false and misleading statements by Wells Fargo were not preempted and the bank could be held liable for affirmative misrepresentations in violation of California's Unfair Competition Law. In his decision, Judge Alsup reinstated the judgment against Wells Fargo, finding: "This order is not penalizing Wells Fargo for a practice protected by federal preemption. Instead, it is penalizing Wells Fargo for affirmatively misleading the class as to what the practice was, namely engaging in a practice likely to mislead the class to believe that processing would be done in chronological order when, in fact, processing was done in high-to-low, non-chronological order." Overdraft Fees Legal Help If you have a similar problem and would http://san-diego-bankruptcy-lawyer.com like to be contacted by a lawyer at no cost or obligation, please fill in the form to the right. Request Legal Help
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Gray Aqua Bankruptcy Transferring From N.l. To N.b.

Court shouldn't rubber-stamp bankruptcy bonuses

Lawyer Geoffrey Spencer filed that application. "The corporate offices are in New Brunswick, the executive are in New Brunswick, all the documentation would be in New Brunswick, and all the witnesses on these bankruptcy proceedings would occur in the province [of New Brunswick]," said Spencer. "So we felt it made more economic sense, much more efficient administration of the estates to have it all consolidated in that jurisdiction." Most of the company's employees are also in New Brunswick. Justice Donald Burrage heard the court application on Friday and allowed the transfer to New Brunswick. None of the creditors objected to the transfer to New Brunswick, including the Newfoundland and Labrador government, which has a $5 million investment in the Gray Aqua Group. The company owes about $40 million to 54 companies and lenders. Before they appear, comments are reviewed by moderators to ensure they meet our submission guidelines .
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Bankruptcy panel sought for Quebec train disaster victims

One analyst who has followed the company for decades, though, blames management for the companys demise. Budd Bugatch, an analyst at Raymond James in St. Petersburg, Fla., wrote in a report last week that Furniture Brands approach and execution was flawed, particularly as peers posted improving results. Furniture Brands has lost money every year since 2006, and its revenue has shrunk by more than half. Analysts say Furniture Brands once-powerful labels, such as Broyhill and Thomasville, have lost market share while the company has failed to cut costs fast enough. Bugatch compares todays Furniture Brands unfavorably with predecessor company Interco, which filed for bankruptcy protection in 1991. The stewardship of the current regime, however, was far worse in our view, he wrote. The cadence of change it attempted to orchestrate was destructive, not just disruptive. Furniture Brands also has been criticized over corporate governance. In 2010, when the company lost $39 million, Chief Executive Ralph Scozzafava got a $4 million bonus from a poorly designed plan that rewarded a short-term rise in the stock price. Last year, he got http://san-francisco-bankruptcy-lawyer.com more than $541,000 in bonuses after the company made them easier to earn.
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White House Plans To Send Some Money To Detroit During Bankruptcy

While Lane's ruling gives his blessing to AMR's restructuring efforts, any divestitures or other material changes to the plan that result from settlement talks with the Justice Department would have to go back to him for approval. Mike Trevino, a spokesman for American, said in a statement that the ruling "shows that American is heading in the right direction" and that the company "will show that our planned merger with US Airways is good for consumers." If the Justice Department succeeds in blocking the merger, AMR would have to forge new strategies for paying back creditors. AMR shareholders, who stand to receive a 3.5 percent stake in the merged entity, would likely be wiped out under any plan that excludes a merger, restructuring experts say. Most of AMR's key creditors, including its unionized workers, support the tie-up. The antitrust lawsuit is likely to take months to resolve, and possibly longer if it goes to trial.
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Bankruptcy law, deposit insurance on the cards

bankruptcies allow creditors to form court-recognized committees that negotiate a settlement of claims. The bankrupt company provides a budget and the committee can hire legal and financial advisers. Potential claimants, however, had split over who should get a seat on a committee. Attorneys for many of those killed or injured asked the court to give them their own committee, which they said will promote due process for the victims who speak French and are unfamiliar with U.S. law.
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The depositors widely anticipate that the government or the SBP would compensate their deposits in case of a bank failure. Banks also support the introduction of the DPF. As the draft DPF Act is being finalized, the paper stressed the need to ensure that necessary preconditions are in place before launching the DPF, such as achieving compliance of all banks with minimum capital requirement, appropriate regulation and effective supervision for a sound banking system and a special resolution regime. Several small and medium sized banks in Pakistan are operating without fulfillment of minimum capital required set by the State Bank. The paper further stated that in revamping the recovery mechanisms, consultations on the new bankruptcy law (Corporate Rehabilitation Act) are ongoing with key stakeholders. The new law would facilitate the legal framework for rehabilitating viable corporate and financial entities speeding up the process of liquidation of unviable entities.
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AMR bankruptcy plan wins court approval

At least seven bodies have been found in some of the most desolated haunts in a half-empty city. (AP Photo/Carlos Osorio) This Oct. 24, 2012 file photo shows a graffiti-marked abandoned home north of downtown Detroit, in background. (AP Photo/Carlos Osorio, File) Graffiti covers an abandoned building at the former Belle Isle Safari Zoo February 24, 2013 in Detroit, Michigan. (Photo by J.D.
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Law Suit Filed: Fisker Employment Lawsuit

Home > Lawsuits > Fisker employment lawsuit Fisker Faces Employment Class Action Lawsuit Over WARN Act Violations April 9 2013 Houston, TX: An employment class action lawsuit has been filed against Fisker Automotive for failure to provide 60 days notice to employees who were part of recent mass layoffs. Those layoffs are in violation of US and California labor laws. Specifically, the US Worker Adjustment and Retraining Notification (WARN) Act, a federal law, stipulates that companies with over 100 employees must provide 60 days notice prior to laying off their employees. There is also a similar requirement in place under California state law. The employment lawsuit against Fisker alleges the company failed to pay the employees their 60 days pay and benefits that they would have been received had they been provided their duly entitled 60-day notice. Further, the lawsuit claims Fisker failed to notify California's state Employment Development Department of its layoff plans, as well as the local workforce investment board, as well as the top elected officials in Anaheim and Orange County. Fisker Employment Class Action Legal Help If http://attorney-in-temecula.com/more-information/bankruptcy/ you or a loved one has suffered similar damages or injuries, please fill in the form to the right and your complaint will be sent to a lawyer who may evaluate your claim at no cost or obligation. Last updated April 9 2013 Request Legal Help
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Furniture Brands Files For Chapter 11 Bankruptcy

LOUIS (AP) The maker of furniture brands such as Thomasville, Broyhill, Lane and Drexel Heritage said Monday that it has filed for Chapter 11 bankruptcy protection. Furniture Brands International said it hopes to sell the bulk of its business to investment firm Oaktree Capital Management. The St. Louis-based company, which also runs the Thomasville chain of furniture stores, struggled like many other companies after the collapse of the housing market. But unlike some of its peers, its business has not rebounded with the recovery in home sales and the broader economy. Furniture Brands reported in August that it widened its fiscal second-quarter net loss to $40.8 million on weaker revenue and major charges to write down the value of its brands.
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Bankruptcy lite: when a consumer proposal is a better option

The maximum repayment period is five years. Consumer proposal vs. debt settlement Unlike a debt settlement, a consumer proposal carries the force of law once your creditors agree. "A consumer proposal is a legally binding deal with your creditors," says Doug Hoyes, a bankruptcy trustee and co-founder of Hoyes, Michalos & Associates Inc. Because of that, creditors can't change their minds once they've agreed to the terms. "They can't sue you, they can't garnish your wages and they can't freeze assets," says Jay T. Harris, trustee in bankruptcy for Harris & Partners Inc.
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Facing Lead Paint Suits, Baltimore's City Homes Files for Bankruptcy

As a result of the 70 pending lead paint lawsuits and the many more anticipated, the companies must stabilize their affairs and consider all options going forward, City Homes President Barry Mankowitz said in court papers filed Tuesday. Past legal judgments against City Homes include $2.5 million awarded to two siblings in November 2009. Their mother moved to a City Homes rowhouse after finding out one of the children was exposed to lead in a previous rental unit; she said City Homes assured her the home was safe. Another case resulted in a $5.1 million judgment against City Homes that was later reduced to $1.25 million. Exposure to lead paint , of special concern in homes built before 1978, can cause permanent damage to the brain and nervous system, including behavior and learning problems. Young children are most susceptible. In conjunction with increasing operating costs and an inability to acquire additional rental units, the substantial expense of lead paint litigation has contributed to the companys recent losses, Mr. Mankowitz said.
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Settlement: Historic $10m Settlement Reached In Debt Collection Class Action

Home > Settlements > Historic $10M Settlement Reached in Debt Collection Class Action Historic $10M Settlement Reached in Debt Collection Class Action September 12 2011 Greenville, SC: Thousands of people have been forgiven their debts in a historical unfair business class action settlement reached Friday in Maryland. The class action lawsuit was brought by Jason Hauk and Freddy Velazquez who led http://www.socallawsupport.com/ the class action suit, against LVNV Funding LLC, a Greenville, SC-based company that buys consumer debt. According to the terms of the settlement some 3,500 people in the class will receive about $2000 each, for a total of $7 million. The total settlement forgives about $10 million in debt, according to filings in U.S. District Court in Baltimore. Further, LVNV will not pursue the 3,500 debtors in order to collect the debt, nor will they be able to sell those debts to other third party collection agencies. And LVNV have to remove information it gave to the major credit bureaus for each of those debtors, a step taken to improve their credit ratings. The settlement is being hailed as historic, and a major win for the class. Legal Help If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please fill in the form to the right. Request Legal Help
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Furniture Brands Files For Bankruptcy Protection

Furniture Brands' Bankruptcy Sets Up Sale to Oaktree

Its shares were recently delisted, and the Clayton company filed for bankruptcy protection on Sept. 9, 2013. In the file photo: Brandi H. Long, administrative assistant to Wilbert G. (Mickey) Holliman, chairman, president and CEO (fourth from left); Lynn Chipperfield, senior vice president and Chief Administrative Officer; Richard A. Grasso, chairman & CEO, NYSE; Holliman; Catherine Kinney, president & COO, NYSE; Michael K. Dugan, president and CEO, Henredon Furniture Industries, Inc. Source: NYSE/ via Bloomberg News. Clayton-based Furniture Brands International filed for bankruptcy protection today and announced it has reached a preliminary agreement to sell much of its business to an investment management firm.
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Cellceutix acquires PolyMedix assets from bankruptcy court

The Oaktree acquisition proposal doesnt include the Lane brand. Furniture Brands said its engaged with other potential buyers for that line. Furniture Brands plunged as much as 70 percent to 17 cents in over-the-counter trading after the filing was reported. The shares had dropped more than 92 percent this year before today. The case is In re Furniture Brands International Inc., 13-12329, U.S. Bankruptcy Court , District of Delaware (Wilmington).
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Furniture Brands files for Chapter 11 bankruptcy

The sale agreement will be subject to higher bids and a court-supervised auction. The money from the auction will be used to repay Furniture Brands creditors. The company's pink sheet stock was down 33 cents or 57 percent at 24 cents per share in afternoon trading. Oaktree also committed to providing a $140 million debtor-in-possession or DIP loan to finance the bankruptcy case. The company said in documents filed in Delaware's U.S. Bankruptcy Court that it estimated its assets were worth $546.7 million and its liabilities were worth $550.1 million. It said its largest creditors were LP Products PTE Ltd, a trade creditor owed $2.5 million, and the Pension Benefit Guaranty Corp, a government insurer of defined-benefit pensions.
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Senator Requests Probe of New Bankruptcy Fee Rules

Cellceutix Corp. , a clinical stage biopharmaceutical company based in Beverly, said it has acquired substantially all of the assets of the company formerly known as PolyMedix Inc. from bankruptcy court. PolyMedix was a biotech that had been working on small-molecule drugs for the treatment of infectious diseases and innate immunity disorders. Cellceutix said the purchase price was $2.1 million in cash and 1.4 million shares of company stock. The PolyMedix assets acquired include a pipeline of nine compounds as well as the substantial equipment assets at PolyMedixs 25,000-square-foot headquarters and laboratory, the company said in a press release . The acquisition includes PolyMedixs flagship drug candidate Brilacidin, a first-in-class defensin-mimetic antibiotic that has completed a Phase 2a clinical trial demonstrating safety, http://san-francisco-bankruptcy-lawyer.com tolerability and efficacy in patients with acute bacterial skin and skin structure infections caused by Staphylococcus aureus, Cellceutix said. In a statement, Cellceutic chief executive Leo Ehrlich said: This is a transformational development for our company and shareholders; adding the assets of PolyMedix for a tiny fraction of what we believe the company is truly worth.
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Furniture Brands files for bankruptcy, seeks sale to Oaktree

Grassley wrote in the letter. Attorney fees are one of many hot-button issues in bankruptcy, and Mr. Grassleys letter referenced another: venue. Bankruptcy laws afford companies great flexibility to choose where they seek protection, and critics say lawyers push companies to file in a venue where $1,000 (or higher) hourly fees are the norm. Mr. Grassley asked the GAO to review whether certain jurisdictions maintain lax standards that encourage excessive fees. A spokeswoman for the U.S.
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Oaktree will provide $140 million in debtor-in-possession financing. That includes $50 million in liquidity, which officials said would enable the company to continue business operations. Furniture Brands is evaluating sale alternatives for Lane, according to the news release. Last month, a Stifel analyst predicted a liquidation or bankruptcy filing was imminent, and Furniture Brands reportedly hired turnaround advisors . Last month, Furniture Brands delisted itself from the New York Stock Exchange , after its market cap fell below $50 million for 30 consecutive days. Furniture Brands reported a $40.8 million loss in the second quarter, compared with a $6.8 million loss in the prior year period.
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Settlement: Ameriprise Agrees Preliminary Settlement In Securities America Investor Class Action

Home > Settlements > Ameriprise Agrees Preliminary Settlement in Securities America Investor Class Action Ameriprise Agrees Preliminary Settlement in Securities America Investor Class Action April 13 2011 New York, NY: A preliminary settlement has been reached by Ameriprise Financial and its brokerage unit, Securities America Inc, and clients who allege in they lost roughly $400 million on fraudulent private placements. The preliminary agreement would see Securities America pay $80 million, further to a separate agreement in which SA has agreed to pay $70 million. If approved, the settlement would mean a recovery of 40 cents on the dollar, after fees. If approved, the majority of the settlement will be paid by Ameriprise. Legal Help If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please fill in the form to the right. Request Legal Help
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The Daily Docket: Msd Performances Enters Bankruptcy

Detroit hits back against opposition to its bankruptcy

(Daily Bankruptcy Review and DBR Small Cap are daily newsletters with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit our homepage , scroll to the bottom and click try for free.) Hotel Internet provider IBahn Corp. filed for bankruptcy protection, Bloomberg reports . The founder of Peregrine Financial Group Inc., Russell Wasendorf Sr., might face more questioning from customers who lost money and a bank thats been implicated in his fraud, The Wall Street Journal reports . The Detroit News reports on an appraisal of the art collection owned by the Detroit Institute of Arts. According to Reuters , Fiat SpAs trial over buying out a minority owner in Chrysler Group LLC may have to wait until 2015.
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Detroit bankruptcy case blocking new Meijer store plans

BANKRUPTCY JUDGE STEPHEN ROSE TO LIFT IT DUE TO THE BANKRUPTCY FILING. ONLY WAY MYER COULD CHANGE IS TO SUE THE CITY. RIGHT NOW THAT IS PROHIBITED BY THE BANKRUPTCY JUDGE. THOSE THIS LIVE IN THE AREA SAY LIFT THE RESTRICTION AND GET TO BUILDING. IT IS WHAT THE NEIGHBORHOODS IN DETROIT ARE IN BAD NEED OF. A LOT OF PEOPLE UNEMPLOYED. BRING A STORE HERE IN THE NEIGHBORHOOD. IT WOULD DEFINITELY HELP WITH THE CAUSE OF BRINGING EMPLOYMENT AND CRIME WOULD GO DOWN AS A RESULT. BACK HERE LIVE AND THIS IS A PERFECT PLACE THIS WEEKEND, ONLY THING GOING IS TWO-HAND TOUCH FOOTBALL FROM THE DUDES IN THE COMMUNITY.
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It takes an average time of 3.2 years to resolve the issue (compared to the OECD average of 1.7 years) and the recovery rate is a worrying 29.4 cents on the dollar (as opposed to 70.6 in the OECD countries). Put simply, if you have invested in or lent money to a company that has gone bust in the UAE, you will be lucky to get a third of your investment back and the process will take twice as long as it would in more developed countries. The lack of bankruptcy legislation in the Gulf has forced some firms to go to unprecedented lengths to prevent themselves from going under. Last year, Bahraini investment bank Arcapita filed for Chapter II bankruptcy protection as it struggled to pay off a $1.1bn loan. This summer, Arcapitas restructuring plan was approved by a court in Manhattan in what is believed to be the first bankruptcy that is compliant with Sharia law. The agreement allowed Arcapita to repay its secured creditor in full, and it also set a minimum value for the future sale of any assets, leaving both shareholders and creditors largely satisfied.
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Calls for a new bankruptcy law are getting louder

To proceed into bankruptcy, Detroit must overcome 109 objections filed in court, mostly from labor unions, that range from accusations that the city failed to negotiate in good faith to claims that Detroit's state-appointed emergency manager, Kevyn Orr, overstepped his legal authority by filing for bankruptcy. Detroit's filing is focused on persuading federal bankruptcy judge Steven Rhodes that the city is insolvent, had the legal authority to file, and intends to implement a debt-reduction plan. Detroit also must show that it either negotiated in good faith with its creditors or that the number of creditors is so large that negotiations were not feasible. "Confronting a state-declared 'financial emergency' that includes approximately $18 billion in debt, over 100,000 creditors, over 100 discrete bond issuances and related loans (as well as multiple insurers of such bonds) and nearly 50 union bargaining units representing the City's employees - all of which rendered any out-of-court solution impracticable - the City commenced this Chapter 9 case on July 18, 2013," the city argues in an opening passage of its filing. The city takes on the basic requirement of financial insolvency head on. The petition states that Detroit was "cash insolvent," "budget insolvent" and "service delivery insolvent".
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Delta Regains S&P 500 Status Lost on Eve of Bankruptcy

Inclusion in the benchmark gauge for U.S. equities marks Bankruptcy Lawyer a milestone in Deltas turnaround after being dropped in August 2005 ahead of its bankruptcy filing weeks later. President Ed Bastian said in a May 22 interview that executives were hopeful that Delta would win back its spot in the index and eventually regain investment-grade credit ratings. The S&P revision will prompt money managers to shift holdings to match the index, Hellwig said by phone. More than $5 trillion is benchmarked to the S&P 500 , according to the website. Deltas shares climbed as much as 5.5 percent to $20.99 in trading after U.S. exchanges closed yesterday. At $17.1 billion, Deltas market value was the largest among U.S. airlines, ahead of United Continental Holdings Inc.s $10.6 billion.
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ASK A LAWYER: Each bankruptcy is different

Lunch is served at 11:30 a.m. and reservations are needed a day in advance by 11 a.m. For lunch reservations, call at 330-6293 from 9 a.m. to 1 p.m. September 7, 2013 AS I SEE IT: Best laid plans may not always be the right call If you happened upon a spider web with a struggling butterfly held fast in its grip, would you release it and let the spider go hungry?
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Law Suit Filed: Fisker Employment Lawsuit

Home > Lawsuits > Fisker employment lawsuit Fisker Faces Employment Class Action Lawsuit Over WARN Act Violations April 9 2013 Houston, TX: An employment class action lawsuit has been filed against Fisker Automotive for failure to provide 60 days notice to employees who were part of recent mass layoffs. Those layoffs are in violation of US and California labor laws. Specifically, the US Worker Adjustment and Retraining Notification (WARN) Act, a federal law, stipulates that companies with over 100 employees must provide 60 days notice prior to laying off their employees. There is also a similar requirement in place under California state law. The employment lawsuit against Fisker alleges the company failed official website to pay the employees their 60 days pay and benefits that they would have been received had they been provided their duly entitled 60-day notice. Further, the lawsuit claims Fisker failed to notify California's state Employment Development Department of its layoff plans, as well as the local workforce investment board, as well as the top elected officials in Anaheim and Orange County. Fisker Employment Class Action Legal Help If you or a loved one has suffered similar damages or injuries, please fill in the form to the right and your complaint will be sent to a lawyer who may evaluate your claim at no cost or obligation. Last updated April 9 2013 Request Legal Help
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Ex-arkansas Coach Discharged Of Debt In Bankruptcy Deal

A link has been sent to your friend's email address. Join the Nation's Conversation To find out more about Facebook commenting please read the Conversation Guidelines and FAQs Ex-Arkansas coach discharged of debt in bankruptcy deal Brent Schrotenboer, USA TODAY Sports 10:46 a.m. EDT September 5, 2013 Foremr Arkansas Razorbacks head coach John L Smith during warmups prior to the game against the Jacksonville State Gamecocks at Donald W. Reynolds Razorback Stadium. (Photo: Nelson Chenault, USA TODAY Sports) Story Highlights Judge approved settlement that ends $40 million bankruptcy case John L.
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San Bernardino bankruptcy ruling is a blow to CalPERS

(The court can't repossess certain exempt property, such as a certain amount of your equity in a residence or a motor vehicle.) To qualify for Chapter 7 bankruptcy, you must pass a "means test" involving an analysis of your income and expenses. If the test results show that your discretionary income is below $100 a month, you can file for Chapter 7. If discretionary income is over $100, you may have to file Chapter 13. A provision of the new law bars filers who owe more than about $1.2 million from filing under Chapter 13, but allows them into Chapter 11, which is usually meant for businesses. Because Chapter 11 is designed to keep a business going, it allows the debtor to retain income earned after the bankruptcy filing while using only assets he had at the time of filing to pay past debts.
For the original version including any supplementary images or video, visit http://www.kiplinger.com/article/credit/T025-C000-S001-bankruptcy-the-last-resort.html

IBahn Seeks Bankruptcy After Loss of Marriott Contracts

Read the Daily Bankruptcy Review article via The Wall Street Journal . (Daily Bankruptcy Review and DBR Small Cap are daily newsletters with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit our homepage , scroll to the bottom and click try for free.) Detroit defended deals over interest-rate swaps contracts as a way to help it survive, Reuters reports . According to WSJ , the Commodity Futures Trading Commission is about to set rules to try to make the futures market safer, following the collapse of businesses such as Peregrine Financial Group Inc. and MF Global Holdings Ltd. Speakeasy looks at how many American cities might be facing financial ills similar to Detroits. Banks in Ireland are already fighting the new Insolvency Service of Ireland, which will start taking applications Monday, Credit Slips reports . Weil, Gosthal & Manges partner Harvey Miller speaks to Bloomberg about Lehman as it approaches five years since the beginning of the financial crisis. Lawyers for the Archdiocese of Milwaukees cemetery trust think recent efforts to get a judge to recuse himself from the case border on frivolous, the Milwaukee Journal Sentinel reports .
For the original version including any supplementary images or video, visit http://blogs.wsj.com/bankruptcy/2013/09/05/the-daily-docket-gatehouse-to-enter-bankruptcy/

Catholic diocese of Gallup, N.M., to file for bankruptcy

IBahn, based in Salt Lake City, Utah , provides broadband and entertainment access to guests at more than 2,200 hotels around the world as well as multinational companies that hold meetings at the sites. Marriot in 2009 sought vendor certification to establish consistent standards at its hotels, according to Jonsons filing. IBahn didnt achieve the certification until 2013, and lost a third of the Marriott contracts between 2011 and 2013, Jonson said. The loss of revenue has made restructuring of the iBahns business essential to ongoing operations, he said. Ibahn was a target of China-based hackers, according to a U.S. intelligence official familiar with the matter who spoke on a condition of anonymity in December, 2011. The case is In re: iBahn Corp. 13-12285.
For the original version including any supplementary images or video, visit http://www.bloomberg.com/news/2013-09-06/ibahn-seeks-bankruptcy-after-loss-of-marriott-contracts.html

Bankruptcy: The Last Resort

The city resumed payments in July of this year but still owes CalPERS about $14 million from last year and has indicated it wants to restructure its relationship with CalPERS to reduce payments going forward. San Bernardino is supposed to pay the pension fund $24 million a year, said CalPERS spokesman Brad Pacheco. CalPERS and San Bernardino have been butting heads for months. The pension fund tried to sue the city last fall but was denied permission by the bankruptcy judge. Last week, at a hearing in U.S. Bankruptcy Court in Riverside, lawyers for CalPERS argued that the city wasnt eligible for bankruptcy. Michael Gearin, an attorney for CalPERS, told the judge that it would create a dangerous precedent to let San Bernardino remain in bankruptcy.
For the original version including any supplementary images or video, visit http://www.sacbee.com/2013/09/04/5704787/san-bernardino-bankruptcy-ruling.html

The Daily Docket: GateHouse to Enter Bankruptcy

Tim http://www.socallawsupport.com/ Farrell. Farrell said he could not put a dollar figure on how much potential liability the diocese faced from the 15 to 20 sex abuse cases pending against it, "but it's more than we have." Some of the cases stem from alleged incidents that occurred in areas that are no longer part of the diocese, and some that date back 50 to 60 years, he said. Robert Pastor, a Phoenix attorney who represents plaintiffs in 13 sex abuse cases against diocese clergy, said the bankruptcy filing would delay litigation of the claims. "The bishop has done what we see all the other bishops do - they run to bankruptcy perhaps seeking financial protection but more importantly protection from the discovery process," Pastor said. He noted that Bishop Wall was due to be deposed in an abuse case on September 18, which could be delayed if the bankruptcy is filed before then.
For the original version including any supplementary images or video, visit http://www.reuters.com/article/2013/09/04/us-usa-church-abuse-idUSBRE98304G20130904

Orange County Bankruptcy Lawyer Creates Stop Wage Garnishment Video For Law Firm Boost

Chapter 7 bankruptcy, widely known as aliquidationa or astraight bankruptcy,a provides the filing individuals with protection from creditors, and relief from many of the debts that may have overwhelmed and burdened them. It will allow the individual to alleviate most outstanding debts quickly, and get a fresh financial start. To speak to a bankruptcy attorney and find out about the different options available to stop wage garnishments visit the new video here, http://www.youtube.com/watch?v=Xk_pOFrkSC4 The bankruptcy lawyers' videos are well-known across the internet, and can be seen under most bankruptcy search terms. The latest video showcases wage garnishments and gives a list of things that can be done to halt them. Also, in the video description important contact information is provided as well as links to federal sites to give further legal rights for the individual. To stop wage garnishments in Orange County, the individual should first contact the law office for a no cost consultation to weigh their legal options. The firm will discuss California bankruptcy exemptions , and the different Chapters that the filing individual may or may not qualify for.
For the original version including any supplementary images or video, visit http://www.streetinsider.com/Press+Releases/Orange+County+Bankruptcy+Lawyer+Creates+Stop+Wage+Garnishment+Video+For+Law+Firm+Boost/8663771.html