BankruptcyProf Blog

Real Estate Broker Gets Prison for Bankruptcy Fraud

"An Alpharetta, Ga., real estate broker was sentenced Wednesday to 15 months in federal prison for making false statements during his bankruptcy case."

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Soffers lose Las Vegas property

"Lenders owed more than $500 million on Aventura-based Turnberry Associates’ 1.2 million-square-foot Town Square mall and offices in Las Vegas have taken it from the Soffer family."

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Judge opens Tribune bankruptcy trial with warning

"A judge warned he might reject both proposals for the bankrupt Tribune Co media company as a two-week trial began on Monday into the rival reorganization plans."

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Madoff Victims Have Their Day in Appeals Court

"Whatever decision the three-judge panel of the United States Court of Appeals for the Second Circuit reaches will be felt far beyond the Mets clubhouse, affecting thousands of Madoff victims, big and small, and potentially shaping the way victims of similar frauds will be treated in federal bankruptcy courts for years to come."

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Kansas senator files for bankruptcy

"A state senator who serves on the Ways and Means Committee and other financial panels has filed for personal bankruptcy.

Andover Republican Ty Masterson says most of his debts are from a failed business in 2006. The Wichita Eagle reports Masterson lists more than $800,000 in unsecured debts that aren't tied to assets or collateral."

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Parent of Failed Sterling Bank Files Chapter 7

"Nearly eight months after Lantana-based Sterling Bank failed, its former parent company filed for Chapter 7 bankruptcy to wind down operations.

Sterling Bancgroup made the filing in U.S. Bankruptcy Court in Fort Lauderdale on March 2. It listed $1 million to $10 million in debt and $100,001 to $500,000 in assets. The filing did not break out a list of creditors."

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