Worlds Most Valuable Poster Sold in Bankruptcy Court

What is thought to be the world's most valuable movie poster along with eight others sold to a film memorabilia collector for $1.2 million. The Metropolis poster by German Expressionist Heinz Schulz-Neudamm was purchased as part of a lot in a Los Angeles bankruptcy court Thursday. Schulz-Neudamm created the poster in 1927 for the German Expressionist science-fiction film of the same title by Fritz Lang. New Jersey resident Ralph DeLuca, who owns film memorabilia company Movie Archives Inc., won the bidding over three other bidders, Reuters reports. Bidding for the poster started at $700,000. "I honestly feel that the 'Metropolis' poster...

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Posted in Bankruptcy Auction , Bankruptcy Memorabilia , Metropolis Poster Bankruptcy Auction , Movie Archives

Federal Judge Allows Popular PA Ski Resort to be Sold at Auction

Scranton, PA -  A federal bankruptcy judge had the final say, allowing bankruptcy trustee Gary Seitz to solict bids for the purchase of Northwestern Pennsylvania'a Sno Mountain to satisfy its creditors. The Ski Resort's finances were a slippery slope themselves, as the resort has accumulated over $24 million dollars in debt and nearly $420,000 in tax liens. The list continues with over $400,000 due to the IRS and a bill more than double that size owed to the Commonwealth of Pennsylvania. The resort filed for Chapter 11 bankruptcy protection in October, and court records list the resort with assets of only $171,562.00. The sale...

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Posted in business bankruptcy , Chapter 11 Bankruptcy , pennsylvania bankruptcy , ski resort bankruptcy , sno mountain bankruptcy

Bankruptcy Trial for Former Telatron Owners Getting Closer

According to GoErie, The former owners of a bankrupt Erie telemarketing business are getting closer to a trial in U.S. Bankruptcy Court in Erie over claims that they engaged in a multimillion-dollar fraud while they ran the company. Chief U.S. Bankruptcy Judge Thomas P. Agresti last week rejected a proposed settlement that would have ended the case against the two top officials of what had been the Telatron Marketing Group Inc. Agresti, who cited a clerical error in turning down the proposal, has scheduled a trial for Dec. 13-14 at the federal courthouse in Erie. Some of the claims against Telatron are related to an affiliate debt-collection...

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Posted in bankruoty filing , bankruptcy trial , Erie PA Bankruptcy , Judge Thomas Agresti , Telatron Bankruptcy , Trustee Melaragno , U.S. Bankruptcy Court

According to a recent article published by Go Erie, Erie's Community Country Day School have filed for Chapter 11 bankruptcy protection, citing hundreds of thousands of dollars in debt and unpaid taxes that accumulated as the school lost donations and grant funding. Community Country Day School is a private school, founded in the late 1960's with an enrollment of approximately 140 students grades K-12. The school specializes in providing mental health services for students. According to documents filed in U.S. Bankruptcy Court in Erie on November 9th, the school owes the IRS approximately $175,000 in back taxes and that is just the beginning.... $600,000 owed to Northwest Savings Bank $60,679 in Pennsylvania unemployment compensation $41,455 to Awareness Ministries $30,000 to...

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Posted in Chapter 11 Bankruptcy , Erie Bankruptcy , Erie Bankruptcy Court , Erie Community Country Day School , Judge Thomas Agresti , U.S. Bankruptcy Court

Manhatten Federal Bankruptcy Court Will Re-Open

(Reuters) Federal bankruptcy court in Manhattan reopened  Yesterday after being closed for more than two weeks due to flooding and other damage caused by Hurricane Sandy, according to its website. The court, which had been without steam, Internet and phone connection, is "now operational," according to an announcement on the site on Monday. For large companies restructuring under Chapter 11 in New York, like Patriot Coal Corp and American Airlines parent AMR Corp, it means returning to normal after days of postponed or relocated court hearings. The court, a major hub for corporate restructurings and liquidations, is...

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Posted in AMR Corp Bankruptcy , Federal Bankruptcy Court , Hurricane Sandy , NYC Bankruptcy Court , Patriot Coal Corp

CSI Actor Files For Bankruptcy

A pending foreclosure, mounting credit card bebt... CSI Actor Gary Dourdan found himself in the headlines after he was sued over his credit card debt in 2010. His financial troubles continued as Wells Fargo Bank wanted to place his California summer home up for auction this summer to help pay off his mortgage debts. In August 2012, Gary chose the path that so many other have turned to for a new financial start... bankruptcy. In the court documents, obtained by TMZ, Dourdan claims he has just over $1.8 million in assets, but owes several creditors a total of $1.73 million, with the largest creditors being financial institutions. Dourdan...

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Posted in Celebrity Bankruptcy , CSI Bankruptcy , Gary Dourdan , mortgage debt

Borders Gift Cards... Worth NOTHING.

If you are holding on to a Borders gift card...you can safely deposit it in the trash, as the paper is worth more than the balance on the card. Sad but true, a bankruptcy judge ruled that Borders does NOT owe a cent to the gift card holders who didn't redeem their cards before last year's deadline, when the mass retailer closed for good.  Those who still have gift-cards from the retailer -- opposed the ruling, arguing that Borders "did nothing" to reach out to their gift-card holders before they shut down last September. Judge Martin Glenn of the U.S. Bankruptcy Court said “Gift cards, as their name illustrates, are not intended to be used by the purchaser but are instead intended as gifts, so even if the debtors were able to identify the purchasers of the gift...

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Posted in bankruptcy beat , Borders Bankruptcy , borders gift cards , retail bankruptcy

Sapp Sells Shoes to Pay For Bankruptcy

 Bankruptcy lawyers except a variety of payments - but Warren's Sapps shoes aren't going to pay the bill. The ex-football star was hoping collectors or fans would be willing to shell out some cash for his collection of 215 pairs of size 15 shoes.   According to the Daily Mail, Sapp auctioned off his entire collection of Air Jordans on eBay to try to recoup money for creditors in his bankruptcy case. How did the Air Jordan Auction go? The plan to support Sapp's bankruptcy was a bust -- The highest bid was $16,800 - which didn't meet the auction's reserve. The sale wasn’t exactly a success, though—the highest bid of $16,800...

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Posted in ex football bankruptcy , warren sapp bankruptcy

Daughter Wins Gold, Mom Files Bankruptcy

It was 2 gold medals that made one U.S. gymnast a celebrity overnight. Gabby Douglas made international headlines upon capturing the second gold and the hearts of many. The American sweetheart, tumbled her way to the top of the podium twice during the 2012 Olympic Games, but the gymnast’s mother isn’t quite as fortunate. Reports show Natalie Hawkins filed for Chapter 13 bankruptcy in January with nearly $80,000 in debt. According to the Associated Press, Hawkins said the bankruptcy was her story and she wasn’t embarrassed about it. “It shows that even though I didn’t like to have to do it,” she said. “I’m glad there was something there...

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Posted in Celebrity Bankruptcy , Chapter 13 bankruptcy , gabby douglas , olympic bankruptcy

Michael Vick - Motivating Others After Bankruptcy

"It's not how you start, it's how you finish"... this is just one of the sayings printed on a shirt, part of Michael Vick's new clothing line - V7. Hard to believe 4 years ago, Vick filed for Chapter 11 bankruptcy and just 3 short years ago, Vick was serving an 18 month sentence for funding a dog fighting ring. From digging out of debt to doing time, Vick is now listed one of Forbes Top Highest Paid Athletes, like a phoenix he has risen from the ashes and hopes his clothing line can aspire others who may be facing tough times to see the light at the end of the tunnel... http://www.forbes.com/sites/lancemadden/2012/07/17/what-bankruptcy-michael-vick-launches-new-clothing-li...

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Posted in Chapter 11 Bankruptcy , Michael Vick bankruptcy , V7 Clothing Line

Weird Iowa Bankruptcy News.... Week of July 16th

This month there are several interesting bankruptcy heading from Iowa that will leave you shaking your heads from bankrupt monks to spongebob coins and everything in between... Here's the bizzare bankruptcy buzz from Iowa this week.... A cedar rapids based self proclaimed "monk" files a personal bankruptcy petition in December in Iowa, but since then Ryan St. Anne Scott has "essentially done nothing" federal officials require.... Read More: http://wcfcourier.com/news/local/judge-closes-the-book-on-monk-s-bankruptcy-case/article_1a5816c9-e6db-5389-ae20-5e836074986b.html#ixzz2164wADPX In other news.... Peregrine Financial Group,...

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Posted in bankruptcy news , iowa bankruptcy news , peregrine financial group

Ready, Set, Action! ... WJET-TV Commercial Shoot

   Ready, Set, Action! Step into the studio (...or should we say, behind the camera) with Foster Law Offices for their latest commercial shoot at the WJET-TV studios in Erie, PA. With tax season over, summer is in full swing and the team at Foster Law Offices are committed as ever with helping folks find relief under the U.S. Bankruptcy Code. Debt Relief is a serious and personal business and every day we work hard to help our clients sleep better at night and get the relief they desperately need. With thousands of hours spent in the office and in courtroom it is a breath of fresh air to step outside...

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Posted in Bankruptcy Commercial , Bankruptcy Legal Services , Foster Law Offices

Happy 4th of July

Happy Fourth of July from all of the staff at Foster Law Offices. "America was not built on fear. America was built on courage, on imagination and an unbeatable determination to do the job at hand." Author: H.S. Tru...

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Posted in Fourth of July

Top Celebrity Bankruptcies

Found an awesome article from Howtosavemoney.com that details the top celebrities who filed bankruptcy... When people come into our office and say they are embarrased or we hear people who are financially struggling say, "I need help but i'm too good to file bankruptcy"... we tell them that we are here to help. There is help. We help people get a fresh start, one that has afforded millionaires the opportunity to find their success... innovators to make their mark on the world and ordinary people to find peace and get a fresh start. Check out this fun read... ___________________________________________________________ Willie Nelson Willie Nelson is one of Country Music’s living legends with over 50 million records sold but even with all those gold records he was no stranger to debt....

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Posted in Celebrity Bankruptcy , ford bankruptcy , walt disney bankruptcy

How Does Chapter 7 Work?

Now we are getting to the "meat and potatoes" of the topic... How does Chapter 7 work? According to the US Courts website, here is the first step... A chapter 7 case begins with the debtor filing a petition with the bankruptcy court serving the area where the individual lives or where the business debtor is organized or has its principal place of business or principal assets. (3) In addition to the petition, the debtor must also file with the court: (1) schedules of assets and liabilities; (2) a schedule of current income and expenditures; (3) a statement of financial affairs; and (4) a schedule of executory contracts and unexpired leases. Fed. R. Bankr. P. 1007(b). Debtors must also provide the assigned case trustee with a copy of the tax return or transcripts for the most recent tax...

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Posted in bankruptcy court , Chapter 7 Bankruptcy , The Federal Bankruptcy Code

Qualifying for Relief Under Chapter 7 of Bankruptcy Code

Happy June 2nd... Let's continue with learning about Chapter 7 of the Bankruptcy Code. The topic of the day... Who is eligible to file for Chapter 7 ? According to the US Courts website... you can be an individual, a partnership, or a corporation or other business entity. 11 U.S.C. §§ 101(41), 109(b). So who is not eligible ? An individual cannot file under chapter 7 or any other chapter, however, if during the preceding 180 days a prior bankruptcy petition was dismissed due to the debtor's willful failure to appear before the court or comply with orders of the court, or the debtor voluntarily dismissed the previous case after creditors...

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Posted in Chapter 7 Bankruptcy Eligibility , Foster Law Offices

What is Chapter 7 Bankruptcy

It's June! Only 19 more days until it is officially summer AND we are kicking off our "Learn about Bankruptcy Month"... we are excited to provide you with some educational information, hopefully you are excited to learn a bit more about bankruptcy. Today's Topic - What is a Chapter 7 Bankruptcy? While the answer may vary depending on who you ask... we are going to take the safe road and give you the explanation provided to consumers on the website by the United States Court System, a site that is designed to provide you with information about the judicial branch of the US Government, click here to check it out. - A chapter 7 bankruptcy...

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Posted in Chapter 11 Bankruptcy , Chapter 13 bankruptcy , Chapter 7 Bankruptcy , Foster Law Offices

June: Learn About Bankruptcy

We are declaring June,"Learn About Bankruptcy Month"... Check back every day as we will tackle a new topic daily. From Chapter 11 Bankruptcy to helpful forms and resources, we are here to make June a fun-filled month on our blog - with a focus on Bankruptcy. As always, it is important to mention that our blog is meant for entertainment and informational purposes only and is managed by the Marketing Department at Foster Law Offices, reading our blog does not constitute a lawyer-client relationship... Foster Law Offices, does, however offer a free initial consultation and with offices in Warren, Erie, Meadville and Franklin - we are only a short drive away. Give us a call and we will be glad to take a look at your unique financial situation... Bet you can hardly wait for tomorrow? Enj...

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RG Steel Files for Bankruptcy Protection

ASSOCIATED PRESS -- DOVER, Del. (AP) — Struggling Maryland-based steelmaker RG Steel has filed for Chapter 11 bankruptcy protection in Delaware. In its filing Thursday, the company listed more than $1 billion in both assets and liabilities. RG Steel, based in Sparrows Point, Md., said last week that it planned to idle operations in Maryland, Ohio and West Virginia and warned employees that they faced layoffs. Maryland officials said nearly 2,000 workers would be laid off in the state. RG Steel was formed in March of last year as a wholly owned subsidiary of The Renco Group, a family-owned, private holding company founded in 1975. Renco...

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Posted in Chapter 11 Bankruptcy , maryland bankruptcy , RG Bankruptcy , steelmaker bamkruptcy

Remember the "cantaloupe scare" last year ?? If not, let me refresh your memory... a Colorado farm was traced to a listeria outbreak in cantaloupe, one that was blamed for 32 deaths. In fact, the outbreak infected 146 people in over 28 states. According to Federal investigators old equipment and dirty, still pools of water were most likely to blame. Well, the Colorado Farm - Jensen Farms has filed for Chapter 11 Bankruptcy protection according to a report released by the Associated Press. Their article states, "Jensen Farms declined to comment on its filing Friday. Its attorney Jim Markus told The Denver Post ( http://bit.ly/KTUDbK ) the filing should free up millions of dollars in insurance and other funds that could be distributed to victims." Furthermore, "Court documents show the farm...

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Posted in Chapter 11 Bankruptcy , Jensen Farms bankruptcy

Blair Witch Producer Files Bankruptcy

Kevin J. Foxe, producer of The Blair Witch Project filed bankruptcy last month, stating he only has $900 to his name. This filing came as a shocker to many as The Blair Witch Project went on to make $248 million dollars and only cost $25,000 to produce. What went wrong?? That is a question you would have to ask Foxe himself, and when TMZ contacted Foxe for comment, he declined. What we do know is Foxe filed for Chapter 7 bankruptcy protection in a California court citing a laundry list of creditors which add up to more than $130,000 with the IRS being the largest debt - as Foxe owes more than $62,000 in unpaid taxes. Blair Witch and Octomom - back to back, quite a spring for celebrity bankruptcy...

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Posted in Blair witch project bankruptcy , Chapter 7 Bankruptcy , foxe bankruptcy , kevin foxe bankruptcy

Octomom Files Bankruptcy

Octomom files bankruptcy! So, some of you may have seen this one coming... but what most of you didn't see coming was the amount of debt she racked up... how much, you ask? Nadya Suleman also known as the "Octomom" has filed for bankruptcy, stating $962,000 in debt! Thats right - almost a million bucks! In an interview with the Orange County Register - the Octomom said "I have had to make some very difficult decisions this year, and filing Chapter 7 was one of them." Suleman hopes that bankruptcy will give her family a much needed fresh start - currently she owed more than 20 times her net worth! Suleman is filing Chapter 7 bankruptcy, which means a court-appointed trustee would liquidate her assets to pay off creditors before she is discharged from most of her debts. Who does Suleman...

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Posted in Celebrity Bankruptcy , chapter 7 , Chapter 7 Bankruptcy , octomom bankruptcy

Saint Catherine Medical Center Files for Bankruptcy

A Pennsylvania medical center filed an emergency petition for Chapter 11 bankruptcy protection on Monday according to national reports. Saint Catherine Medical Center in Ashland, Pennsylvania filed for emergency protection following some serious issues facing the medical facility regarding serious deficiencies and safety violations putting patient health according to the Department of Health. After the PA Department of Health uncovered these issues following an "un-announced" visit to the facilities an immediate ban on new admissions and a possible termination of their medicare agreement was placed on the facility. The medical facility hired a local pennsylvania law firm to file the Chapter 11 bankruptcy protection petition and since the filing was of an emergency nature the...

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Posted in Chapter 11 Bankruptcy , chapter 11 bankruptcy protection , emergency bankruptcy protection , medical bankruptcy , PA department of health , saint catherine medical center

Is The Media to Blame for "Pink Slime" Bankruptcy?

You may be asking yourself, "what?!?"... There seems to be alot of crazy bankruptcy news making headines these days and an April 4th blog entry published by Lilly Broadcasting  talking the topic of one company who filed bankrupcty citing the media coverage of "pink slime" is no exception. "Pink Slime" is a slang term wideley by the media to define "lean, finely textured ground beef". Two words that, let's face it don't make the thought of biting into a burger a picturesque one for most...  The ongoing media attention surrounding "pink slime" and the wholesomeness of the lean, ground beef we are consuming these days has "dramatically decreased the demand for all ground beef products" - according to AFA's interim CEO, Ron Allan. AFA was the first company...

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Posted in afa bankruptcy , bankruptcy , ground beef bankruptcy , pink slime , pink slime bankruptcy

What!?! Saving Money Means Setting Prisoners Free...

This is my what?!? blog entry of the week, ok maybe the month... I could barely believe the headlines myself. "Bankruptcy Jailbreak in California"... California Governor Jerry Brown is being faced to make some tough decisions amidst a budget crunch and pressure from the courts... his most recent decision has some people left shaking their heads, and asking what?!?  The governor is "re-aligning" the prisoner population, in other words - he is shifting inmates classified as low level offenders to serve their time at the county jail instead of the state prison. The re-alignment  has reduced the state prison population by 15...

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Posted in bankruptcy , California Bankruptcy

Free Financial Fitness For Erie Federal Credit Union Members

Erie Federal Credit Union Members can help their finances get fit - for free! Erie Federal Credit Union recently introduced members to a new benefit called BALANCE,  a financial fitness program. Also referred to as BalanceTrack, members can explore all elements of personal fitness online including links to learning modules and helpful resources to keep your finances fit! The benefits also include free unbiased money management and certified financial couseling. For more invformation visit www.eriefcu.org or https://www.balancetrack.org....

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Posted in certified financial counseling , erie federal credit union , financial counseling , financial fitness , money management

US Consumer Agency to Be Active in Court Cases

According to initial reports from Reuters, The Consumer Financial Protection Bureau, a new agency formed in July 2011 is stepping up to the plate and heading to court to be active in cases involving disputes over consumer lending laws.  The Bureau was formed to police markets for financial products including credit cards, loans and mortgages. It also works to educate consumers and investigates complaints from consumers regarding unfair or discriminatory lending practices. The Consumer Finance Protection Bureau plans to attend court cases to give its' view on lending laws and says some courts have "misinterpreted the law". According to...

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Posted in CFPB , Consumer Financial Protection Bureau , lending laws , truth in lending

TaxMasters Files Bankruptcy

HOUSTON (AP) — TaxMasters Inc. has filed for bankruptcy protection following a legal challenge from Texas prosecutors who say the company's famed TV commercials mislead potential customers. The Houston-based tax resolution company filed Chapter 11 reorganization documents in federal court on Sunday. The filing says TaxMasters has assets of less than $50,000 and estimated liabilities of $1 million to $10 million. Company founder and president Patrick Cox fronts the company's national advertising campaign. KHOU-TV (http://bit.ly/zaIvyT ) says Texas is suing TaxMasters for violating the Texas Deceptive Trade Practices Act. It says TaxMaster commercials...

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Posted in business bankruptcy , Chapter 11 Bankruptcy , tax masters bankruptcy , texas bankruptcy

New Graduates Get a Degree and DEBT

Bankruptcy Attorneys' nationwide have dubbed the progressively worsening dilemma facing recent college graduates the "next debt bomb". How bad is it? Accordingly a recent survey conducted by the National Association of Consumer Bankruptcy Attorneys - 81 percent of bankruptcy lawyers report that the number of prospective clients with student loan debt has increased "significantly" or "somewhat" in the past few years. Here are some of the highlights of the survey:  Nearly two out of five bankruptcy attorneys (39 percent) have seen potential student loan client cases jump 25-50 percent in the last three to four years. About a quarter...

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Posted in new graduate bankruptcy , student loan debt

Closing the Doors of Debt Ridden Churches...

(Reuters) - Banks are foreclosing on America's churches in record numbers as lenders increasingly lose patience with religious facilities that have defaulted on their mortgages, according to new data. The surge in church foreclosures represents a new wave of distressed property seizures triggered by the 2008 financial crash, analysts say, with many banks no longer willing to grant struggling religious organizations forbearance. Since 2010, 270 churches have been sold after defaulting on their loans, with 90 percent of those sales coming after a lender-triggered foreclosure, according to the real estate information company CoStar Group. Read...

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Posted in Church Bankruptcy , church foreclosure

Parent Company of Twinkies Names New CEO following Second Bankruptcy

According to a recent Reuters report, Hostess Brands - the maker of Twinkies and Wonder Bread has named a new CEO as they continue to work their way out of a second bankruptcy. This is the second bankruptcy for Hostess Brands in less than three years.  Gregory Rayburn has taken over as CEO while former Chief Executive Officer, Brian Driscoll's resignation becomes effective today. The company, which filed for bankruptcy protection in January 2012 after it failed to reach an agreement with workers regarding the issues of pension and healthcare is also facing a possible strike by the Teamsters union. As the new head of the company,...

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Posted in Chapter 11 Bankruptcy , gregory rayburn , hostess bankruptcy , twinkies bankruptcy

American Airlines Hopes Plea for More Time Flies

AMR - The parent company of American Airlines asked a federal bankruptcy judge to extend their "exclusitivity period" by six months. An "exclusitivity period" is the period of time in which a company has the exclusive rights to file a reorganizational plan.  AMR filed for Chapter 11 Bankruptcy protection in November of 2011, and seeking an extension which would take their "exclusitiviety period" to September of 2012. Reports indicated that was not a surprise and the announcenment came just one day after the Fort Worth, Texas-based company proposed to freeze pensions for many of its workers, retreating from a proposal to terminate them. ...

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Posted in American Airlines Bankruptcy , AMR Bankruptcy , Chapter 11 Bankruptcy

Businessman Basics: Tips to Avoid Bankruptcy

One of the top search engine searches related to bankruptcy is regarding "entrepreneurship", especially new businesses. We have heard the statistics, most new businesses fail in the first 5 years. We have also heard that famous businessmen like Donald Trump have filed bankruptcy and like a phoenix, rose from the ashes to the top. Let's face it, most of us would like to experience success without dealing with extreme financial stress.... We have put together some tips for those of you looking to start a business or who may currently be entrepreneurs to keep your books "above water" and out of bankruptcy. Failure to plan is a sure plan to fail....

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Posted in businessman bankruptcy , entrepreneur bankruptcy , Foster Law Offices

Twinkies In Trouble? Hostess Files Bankruptcy...

No more twinkies? Say it isn't true. Hostess Brands, a Texas based company filed for Chapter 11 Bankruptcy protection on January 11, 2011 while continuing to operate but the signs of trouble continue to appear for the maker of Twinkies, Ho Hos and Wonder Bread.. The latest issue .. The Teamsters Union which represents approximately 1/2 of the company's  employees are threatening to strike if the company imposes what they deem as "unfair" contract terms, including wage cuts. According to the Union,  more than 90 percent of its' Hostess members voted to authorize a strike if "unfair contract terms" are approved as part of the bankruptcy...

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Posted in Chapter 11 Bankruptcy , hostess bankruptcy , twinkies bankruptcy

Monthly Bankruptcy News Updates from Foster Law Offices

Interested in bankruptcy news? Considering bankruptcy, but not sure which bankruptcy lawyer may be best for you? Sign up for our monthly newsletter, once a month you will receive an email from Foster Law Offices highlighting bankruptcy news important to you and Northwestern Pennsylvania. From fun stories to changes in legislature, tips and more... our monthly bankruptcy newsletter is meant to be an informational tool to help you learn more about bankruptcy. Don't worry - we will NEVER sell your information, or send you spam and you can unsubscribe at ANY time... how cool is that? January's newsletter will be sent out later this week - so...

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Posted in bankruptcy news , bankruptcy newsletter , Foster Law Offices

Robosigning Credit Cards: The Next Scandal

A friend forwarded me a brilliantly written blog post, that posed a very important question - Could the 'Robosigning' of credit cards be the next big bank scandal? Even bigger than the mortgage crisis? You can read the entire article by clicking here... or here are some of the highlights, the cliff notes version, if you are short on time: Robosigning consists of blatantly illegal practices in which banks and mortgage companies had their employees sign affidavits and other documents without verifying the information therein; forge signatures on documents; backdate documents; falsely notarize documents; create new documents to replace missing...

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Posted in bank scandal , credit cards , jp morgan , robo signing

Kodak Plans Focus on Printing Following Bankruptcy

If Kodak carries through with a Chapter 11 bankruptcy filing in the coming weeks as media reports suggest, it could mark the end of a rich, 131-year history as the king of all-things related to photos and cameras, according to a report by MarketWatch.com. In the report, Rafferty Capital Markets Analyst Mark Kaufman says the company likely will completely exit the consumer photo and camera business. "Forget about it. It's not making money now," Kaufman, told MarketWatch.com. Instead, the plan would be for Kodak (NYSE:EK) to sell off all of its photo business, unload an extremely profitable chunk of its massive patent library and focus almost...

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Posted in Chapter 11 Bankruptcy , kodak , kodak bankruptcy

Baseball: Bankruptcy on Base?

It's a new year and "bankruptcy" has been a hot topic in the game of baseball during 2011 and now 2012... According to an article published by Amazin' Avenue, sources say the Mets have hired CRG Partners — the same turnaround consultants that handled the Rangers' bankruptcy sale — and that a team sale with or without bankruptcy is on the table. The Mets have confirmed the hiring, stating that they have "engaged CRG Partners to provide services in connection with financial reporting and budgeting processes." The article further states that "Hiring turnaround consultants doesn't necessarily mean that the team is specifically preparing for bankruptcy...

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Posted in baseball bankruptcy , mets bankruptcy , new york mets , rangers bankruptcy