Happy Memorial Day from Foster Law Offices

Happy Memorial Day! Please take a moment to remember the brave men and women who gave their lives to serve our country and protect our freedom.

"And I'm proud to be an American,
where at least I know I'm free.
And I won't forget the men who died,
who gave that right to me."
~Lee Greenwood

The entire staff at Foster Law Offices would like to extend wishes for a safe and Happy Memorial Day!

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Posted in Foster Law Offices , Happy Memorial Day

Harry & David Plan to Exit Bankruptcy by Late Summer

Associated Press - Fruit basket and gifts retailer Harry & David Holdings Inc. plans to exit bankruptcy protection in late summer, the company said in a reorganization plan filed on Monday.

The company, which entered Chapter 11 bankruptcy protection in March after struggling to remain afloat during the recession and as online and discount competitors proliferated, said the plan has the support of its official committee of unsecured creditors and about 81 percent of the company's noteholders.

Under the plan, Harry & David, based in Medford, Ore., will be able to convert all of its $200 million in outstanding notes into equity. It will also raise $55 million in equity financing after it emerges from Chapter 11. That financing will be used to pay down debt.

A hearing on the plan's disclosure statement is expected in June, after which Harry & David will see approval from classes of creditors and hold a confirmation hearing on the plan.

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Posted in bankruptcy protection , Chapter 11 Bankruptcy , Harry and David , recession

FBI - PA Attorney Indicted on Bankruptcy Fraud Charges

According to a May 5th Press Release from the Federal Bureau of Investigation, a Pennsylvania Attorney has been indicted on Bankruptcy Fraud charges.

The official press release states that, "Kenneth G. Reidenbach, an attorney in Lancaster, Pennsylvania, was charged by superseding indictment with bankruptcy fraud, concealing assets during a bankruptcy proceeding, and embezzling from a bankruptcy estate".

To read the entire Press Release visit the FBI's official website. 

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Posted in bankruptcy fraud , FBI , federal bureau of investigation , pennsylvania attorney

Fed Judge Keeps Segregated Country Club Membership

NASHVILLE, Tenn. (AP) — An appeals panel has ruled that a U.S. bankruptcy
judge's membership in a Nashville country club that has no women or blacks as full-fledged members does not violate the judicial code of conduct.

But several on the panel of 6th Circuit Appeals Court judges strongly disagreed with the ruling, saying the Belle Meade Country Club has a clear record of discrimination.

U.S. Bankruptcy Judge George Paine II declined to be interviewed about his membership. But in a statement he lamented the corrosive atmosphere in the 6th Circuit and praised the 10-8 vote to dismiss the complaint against him.

Complaints against federal judges rarely result in discipline.

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Posted in US Bankruptcy Judge Nashville

Subscribe to our Monthly Bankruptcy E-Newsletter... It's Free

Foster Law Offices is pleased to announce that we have launched our new Bankruptcy E-Newsletter, focused on connecting with our local communities and helping provide you with tips on how to stay out of debt, basic information about filing bankruptcy and dispelling common bankruptcy myths, plus the hottest news surrounding the bankruptcy industry and affecting you.

The e-newsletter is completely confidential and sent out once a month. To subscribe, CLICK HERE, enter your email address and click subscribe. It's that easy! We don't ask for any additional information and your email will NOT be sold or shared with any third-party providers. Also, you can unsubscribe at ANY time, just visit the Foster Law Offices home page, enter your email address(es) and click unsubscribe.

Whether you live in Erie, PA - Sharon, PA - Mercer, PA - Franklin, PA - Warren, PA or Meadville, PA... Foster Law Offices has you covered with a local office to make meeting and discussing your personal financial situation easy and convenient, visit our website to find the office closest to you, and don't forget to subscribe to our e-newsletter to keep up with the latest news from your local bankruptcy lawyer.

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Posted in bankruptcy myths , bankruptcy newsletter , Erie PA bankruptcy lawyer , filing bankruptcy , Foster Law Offices , meadville pa , sharon pa bankruptcy

Homeowners Get Help In Bankruptcy Court

The mortgage industry doesn't like it. But it can do nothing as lawyers in the San Francisco Bay area use a little-known aspect of the bankruptcy law to help debt-riddled clients get rid of their second mortgages and avoid foreclosure.

View this video, courtesy of MSN Money.

One expert predicts that reductions of mortgage balances will become more widespread, making personal bankruptcy increasingly popular.

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Posted in bankruptcy law , faces of foreclosures , mortgage modification , personal bankruptcy