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December 23, 2011

Rapper Young Buck faces losing his trademarked name in bankruptcy case in Nashville

"Multiplatinum rapper Young Buck could lose his name and other assets in a bankruptcy case that the rapper says is frustrating his attempts to sign with a new record label.

Davidson County Bankruptcy Judge George Paine converted the artist’s bankruptcy from Chapter 11 reorganization to Chapter 7 liquidation this week.

The trustee administering his estate has said she plans to sell the trademarked 'Young Buck' name along with other assets. Buck, whose real name is David Darnell Brown, told The Tennessean he was close to signing a recording deal with New Orleans-based Cash Money Records."

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December 23, 2011 in Current Affairs | Permalink | Comments (0) | TrackBack

December 22, 2011

Financial Lawyers Conference

The Annual Seminar of The Financial Lawyers Conference April 20-22, 2012

Ojai Valley Inn & Spa

Bankruptcy After The Fall: Emerging Issues In The Wake Of The Financial Crisis

The bursting of the housing bubble in 2007, the financial panic of September 2008 culminating in the bankruptcy of Lehman and bailout of AIG, and the ensuing and continuing shocks to the global financial system, have created novel stresses on the bankruptcy system. Judges and practitioners in cases such as Lehman, Chrysler, and Madoff, have been required to address and resolve numerous cutting edge issues, often in very pressured environments. Using a series of hypothetical fact patterns created by our moderator, we shall examine these cutting-edge issues and explore their applicability to the more traditional cases handled by the bankruptcy system.

Professor Douglas G. Baird
University of Chicago Law School

Our moderator will be Professor Douglas G. Baird, the Harry A. Bigelow Distinguished Service Professor of Law at the University of Chicago Law School, where his research and teaching interests focus on corporate reorganizations and contracts. Before joining the faculty in 1980, he was a law clerk to Judge Shirley M. Hufstedler and Judge Dorothy W. Nelson, both of the Court of Appeals for the Ninth Circuit. Professor Baird was Dean of the Law School from 1994 to 1999. He has served as Vice Chair of the National Bankruptcy Conference and is Scholar in Residence of the American College of Bankruptcy. He is also a fellow of the American Academy of Arts and Sciences and sits on the Board of Directors of the American Law and Economics Association.

The seminar will be held at
OJAI VALLEY INN & SPA
905 Country Club Road
Ojai, California 93023

A short drive northwest of LA, the luxurious Ojai Valley Inn & Spa offers guests the finest of amenities, including a world-class spa, award-winning cuisine, superb golf and tennis, and scenic horseback rides, as well as art and mind/body classes. The charming shops and galleries of Ojai are a short stroll away. Please see www.ojairesort.com for more information about the resort and to view this beautiful property.

Please direct all questions regarding the 2012 Annual Seminar to:
Christyne Buteyn at info@financiallawyers.org.

December 22, 2011 in Programs | Permalink | Comments (0) | TrackBack

Hostess filing in mix?

"Hostess Brands, America’s biggest bakery, is on the verge of filing for bankruptcy again — perhaps as early as next month, The Post has learned.

Staying out of Chapter 11 is proving tough for the Twinkies maker, a source said, adding the question now is whether it will be a pre-packaged bankruptcy or not."

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December 22, 2011 in Current Affairs | Permalink | Comments (0) | TrackBack

December 21, 2011

Over Trustee's Objections, Former Howrey Bankruptcy Counsel to be Paid in Full

"In a single declarative sentence, U.S. bankruptcy court judge Dennis Montali captured the essence of what was at issue during a nearly two-hour hearing Wednesday over professional fee applications in the Howrey bankruptcy: 'This is not an ATM machine.'

That observation notwithstanding, the Howrey estate spit out fees in abundance as the sometimes contentious hearing came to a close. Wiley Rein collected one of the largest sums, with Montali approving the full $1.03 million the firm requested for its work as debtor's counsel in the Howrey case from June to October.

By way of background: Howrey entered involuntary Chapter 7 bankruptcy in San Francisco in April, less a month after dissolving. The case was converted to a Chapter 11 proceeding in June; at the urging of the estate's largest creditor, Citibank, it got put in the hands of Chapter 11 trustee Allan Diamond of Diamond McCarthy in October."

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December 21, 2011 in Current Affairs | Permalink | Comments (0) | TrackBack

December 20, 2011

American Laser Centers files for chapter 11

"American Laser Centers LLC has filed for bankruptcy protection along with its parent, as a weak economy dampened demand for its laser hair removal treatments leading to cash constraints, court documents showed."

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December 20, 2011 in Current Affairs | Permalink | Comments (0) | TrackBack

Mo. firms seek involuntary bankruptcy for Mamtek

"A Missouri bank has joined with four companies seeking to force a failed artificial sweetener factory in Moberly into an involuntary bankruptcy case."

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December 20, 2011 in Current Affairs | Permalink | Comments (0) | TrackBack

December 19, 2011

Round Table wraps up restructuring, emerges from bankruptcy

"Round Table Pizza Inc. said Friday it is expected to emerge from bankruptcy next week.
 
The company filed for Chapter 11 protection in February with the U.S. Bankruptcy Court in Oakland. Its reorganization plan was approved Dec. 12."

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December 19, 2011 in Current Affairs | Permalink | Comments (0) | TrackBack

Scottsdale Owners of 54 Arby's File for Chapter 11 Bankruptcy

​"The slogan 'It's Good Mood Food' doesn't appear to be case with several Arby's restaurants in Arizona. In fact, the mood's downright depressing.

The Republic reports three related Scottsdale limited-liability companies, all led by Scottsdale businessman Charles Harmon, that operate 54 Arby's fast-food restaurants in Arizona and one in New Mexico, have filed for Chapter 11 bankruptcy protection."

Read more here.

December 19, 2011 in Current Affairs | Permalink | Comments (0) | TrackBack