C is for Conversion

bankruptcy ConversionLeave a commentTerrance Leeders

World's most expensive movie poster seized in bankruptcy caseThis is a great article about one of the most expensive and rarest movie posters of all time.  Debtor was forced to convert to chapter 7, after the court determined the debtor abused the chapter 11 process by trying to liquidate assets outside of the bankruptcy case, without permission to do so.  It also appears that the debtor undervalued the assets as well. Now, the debtor will likely lose most of these movie posters,...

B is for Baseball Bankruptcy

Baseball bankruptcy, chicago cubs, LA Dodgers, Texas RangersLeave a commentTerrance Leeders

Yes, in fact major league baseball teams have filed for bankruptcy.   Now, keep in mind, they filed under Chapter 11, a reorganization, you will not be able to take home some rare memorabilia from a fire sale. In fact, The Chicago Cubs, Los Angeles Dodgers, Texas Rangers are among the most recent bankruptcy filers.   Often, it is a way to restructure long term stadium deals, ownership changes, and even as part of a divorce...I'm looking at you LA.So take it to heart, bankruptcy can...

ABC’s of Bankruptcy A is for Automatic Stay

Automatic StayLeave a commentTerrance Leeders

Over the next few weeks, I'll be posting some useful bankruptcy information.  I'll call it the ABC's of Bankruptcy.   Some will be fun, some will be instructional, but all will be informative.

Lets get to it.
A
A is for Automatic Stay.

This falls under Section 362 of the bankruptcy code.  It's what gives bankruptcy it's teeth against creditors.   The Automatic stay prevents creditors from taking action against bankruptcy debtors.   It stops the...

Discharging educational debt in bankruptcy – Chicago Bankruptcy Lawyer

UncategorizedLeave a commentTerrance Leeders

http://www.bankruptcylawnetwork.com/student-loan-debt-will-not-be-repaid/Here is a link regarding student loan debts.   Congress has made it increasingly more difficult to discharge educational debts in bankruptcy, having changed the laws several times in the last 14 years. I know who can still discharge educational debt.  I know how.  Contact me to find out.   312-346-7400.Leeders & Associates

Chicago Cubs, Now the Dallas Stars file bankruptcy

UncategorizedLeave a commentTerrance Leeders

Economy hit you hard?   Cities are filing for bankruptcy protection, big league sports teams file bankruptcy too.The Dallas Stars have filed for chapter 11 bankruptcy protection in September, 2011. - in US Bankruptcy Court in Delaware, case # 11-12935.  They are working on a sale of the club to a Vancouver businessman.  There were no competing bidders, so the team is finalizing the sale for $265 million dollars.

Bankruptcy Filings are down

UncategorizedLeave a commentTerrance Leeders

OCTOBER CONSUMER BANKRUPTCY FILINGS ARE DOWN NEARLY 20 PERCENT OVER LAST YEARConsumer bankruptcy filings totaled 106,255 nationwide last month, down almost 20 percent over last year according to the American Bankruptcy Institute (ABI), relying on data from the National Bankruptcy Research Center (NBKRC).  This is down about 2 percent from September as well.  Here is a link to the monthly filing charts Click...