Search

Sophisticated 'vulture investors,' funds, private investors, and institutions have long dominated the distressed investing arena as a result of their understanding of the complex and arcane legal issues and rules [...]

Banks and institutional lenders in the US have stopped lending to hotels because of the failure of legal structures to keep up with changes in the hotel industry. Numerous legal decisions have shown that lenders cannot assume that they will be able to control revenues from hotel operations in the event of a hotel becoming bankrupt. While secured lenders are taking steps to minimize possible problems when lending to hotels, what is really needed is a change in federal bankruptcy law to clarify the situation regarding hotel revenues in bankruptcy situations.

How Bankrupt U.S. Airlines Operate Under Chapter 11 Protection A recent cartoon shows the cockpit view from a commercial jet on final approach. Instead of heading for a runway, however, [...]

In this post-Enron environment, legislative initiatives like the Employee Abuse Prevention Act are sure to be well received back in the home district. Such bills are the inevitable political reaction [...]

ACTION ON LEGISLATION Corporate Reform Legislation HR 3763, S 2673 President Bush on July 30 signed into law the Sarbanes-Oxley Act of 2002, a sweeping measure that tightens the rules [...]

Sen. Richard Durbin, D-Ill., on Thursday joined forces with Rep. William Delahunt, D-Mass., to introduce a new bankruptcy bill -- this one inspired by corporate collapses. Sen. Durbin's bill, identical [...]

In two swift moves last week Congress redesigned much of the regulatory landscape for financial services firms in terms of the way they collect overdue debt, disclose credit terms, and [...]

ACTION ON LEGISLATION Enron-Inspired Legislation HR 3763, S 2673 The Senate on Monday began debating a bill sponsored by Senate Banking Committee Chairman Paul Sarbanes, D-Md., that would overhaul auditing, [...]

Bankruptcy filings jumped 25 percent in the second quarter of 20 compared with the same period in 2000 breaking the 400,000 mark for the first time. At this rate, bankruptcy [...]

Creditors are close to victory in their four-year fight to toughen the nation's bankruptcy laws -- and small businesses could be among the vanquished. A bill likely to go to [...]

The Senate on Thursday voted 88 to 10 to take the first procedural step toward a compromise with the House on long-stalled bankruptcy reform legislation. Each chamber passed its own [...]

New Senate Majority Leader Thomas Daschle, D-S.D., said Friday that he plans to move this week to break the logjam holding up passage of bankruptcy reform legislation. In comments to [...]

Some of your customers are being told to hurry up and file for individual bankruptcy while there's still time. The message is a bit of a stretch, but it's based [...]

Credit problems? Politicians blame you, not marketers You would think American consumers deserved better. After all, not even Alan Greenspan can claim as much credit as consumers for the longest [...]

Former Senate Judiciary Committee counsel John D. McMickle left his baby on Capitol Hill when he moved into private practice in January. Working in the trenches of a Judiciary subcommittee [...]

Bankruptcy reform legislation easily passed the House but was slowed in the Senate by a series of amendments. The bill, which was blocked last year by President Clinton, would require [...]

Bankruptcy reform legislation easily passed the House but was slowed in the Senate by a series of amendments. The bill, which was blocked last year by President Clinton, and recently [...]

WASHINGTON--Bankruptcy reform legislation rapidly moving through Congress would protect from creditors the pension benefits of employees who work for tax-exempt and public employers. The legislation would extend the same protection [...]

Last year Boscov's Department Stores had to write off about $3.5 million in sales because thousands of customers decided to wipe off their debts by filing for bankruptcy. Almost half [...]

BRAINTREE, Mass. -- Bradlees Inc. has filed for Chapter 11 bankruptcy protection and expects to close all 105 of its stores. The discount chain, which emerged from a previous Chapter [...]

WASHINGTON -- The political tornado over the still undecided presidential race has cast a pall over the agenda of the lame duck 106th Congress, raising doubts over whether lawmakers will [...]

At this point in the middle of the Congressional recess, most observers believe that the prospects for the enactment of a bankruptcy bill continue to appear bleak. However, the NACM [...]

President Clinton warned Congress that he 'will not hesitate to veto' bankruptcy reform legislation unless it meets his standards for fairness. The warning came as House and Senate conferees appeared [...]

Despite being passed by both houses of Congress, bankruptcy reform remains stuck in procedural mud -- and opponents vow to keep it there. Congress is having trouble resolving the differences [...]

WASHINGTON--The chairman of the Senate subcommittee that controls the purse strings of the Federal Communications Commission believes strongly companies that purchase spectrum licenses either should pay the original bid price [...]

WASHINGTON -- May-17 -- (CongressDaily) With a slew of mostly Democratic amendments expected to be offered when bankruptcy reform legislation reaches the Senate floor, likely next week, it is anyone's [...]

A bill that alters regulations for bankruptcy filings passed the House of Representatives by a significant margin, 313-108. Among the bill's provisions are more requirements for small businesses and consumers to file under Chapter 13, which mandates repayment of some portion of debt, and restrictions for filing under Chapter 7, which eliminates debt after assets have been liquidated.

WASHINGTON -- May-6 -- (CongressDaily) By a 313-108 vote, the House passed bankruptcy reform legislation Wednesday, after sponsors deflected Democratic attempts to weaken means testing language but backed provisions they [...]

WASHINGTON -- May-4 -- (CongressDaily) Senate supporters of bankruptcy reform legislation got a fresh shot in the arm this week, with the addition of two Democratic cosponsors to what is [...]

WASHINGTON -- Apr-22 -- (CongressDaily) The House Judiciary Committee wrapped up the second day of its bankruptcy reform markup Wednesday, with plans to resume consideration of the measure this morning. [...]

WASHINGTON -- Apr-21 -- (CongressDaily) The House Judiciary Committee Tuesday approved an amendment to bankruptcy reform legislation that the bill's chief sponsor claimed would effectively kill the measure. At issue [...]

WASHINGTON -- Apr-16 -- (CongressDaily) Opening statements by members of the Senate Judiciary Committee at a markup Thursday of bankruptcy reform legislation underscored the vast ideological differences between and within [...]

WASHINGTON -- Apr-15 -- (CongressDaily) This morning's scheduled markup of bankruptcy reform legislation in the Senate Judiciary Committee is expected to be a relatively strife-free, one day affair, since some [...]

Judge sets precedent, finds in favor of banks A federal judge in Houston has set a precedent with a first-time ruling that puts foreign debtors living in the United States [...]

Q: Due to the commission cuts and decline in business travel, our agency can no longer pay the rent, the penalties charged by our GDS vendor and other bills. If […]

A group of Congressional negotiators reached an agreement on a bill making it more difficult for people to escape their debts when they declare bankruptcy. Final approval of the overall [...]

Since last year both the House and the Senate passed bankruptcy reform bills, they are now working out details to compromise on differing provisions in the legislation. IREM strongly prefers [...]

After being put on the back burner for two months, Congress again has scheduled hearings on bankruptcy reform. Early this year, the House and the Senate passed their versions of [...]