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February 18, 2011

JPMorgan says Lehman called assets "goat poo"

The bank has revised a lawsuit to include an allegation of fraudulent inducement to lend, asserting that Lehman and Barclay's knew that Chase's emergency loans would never paid back.

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February 18, 2011 in Current Affairs | Permalink | Comments (0) | TrackBack

Bachelor Aaron Buerge: I'm in Bankruptcy, But Not Broke

The happily married former "Bachelor" star found true love over the course of the reality show in 2002 only to call it quits not one month later. In a somewhat insightful commentary on his debts, amounting to more than four times his assets, Buerge asserts, "I'm not in financial distress - nothing like that."

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February 18, 2011 in Current Affairs | Permalink | Comments (1) | TrackBack

Giordano's Pizza, Famous Chicago Deep-Dish Chain, Files For Bankruptcy

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February 18, 2011 in Current Affairs | Permalink | Comments (0) | TrackBack

February 17, 2011

More Problems for MERS

From: "Steve Smith" <sesmithesq@aol.com>
To: cdcbaa@yahoogroups.com
Sent: Tuesday, February 15, 2011 9:31:58 AM
Subject: [cdcbaa] Re: Big MERS decision

This is a follow-up piece on the decision, from the Wall Street Journal: http://blogs.wsj.com/developments/2011/02/14/us-bankruptcy-judge-questions-legal-claims-of-mers/
The actual holding of the case granted the MFR in favor of the movant, on the grounds that the prior judicial foreclosure ruling the party was trying to enforce was res judicata; the exciting part of the decision comes when the judge holds that not withstanding the ruling, in future cases where a party appears in court with a claim based on an assignment from MERS, they will be out of luck...this is the actual ruling: http://www.nyeb.uscourts.gov/opinions/reg/334499_41_opinion.pdf

February 17, 2011 in Other Circuit Briefs | Permalink | Comments (0) | TrackBack

Borders' First Day Motions

Here is the Declaration supporting the Borders' First Day Motions.  Tells you the structure of the company, what went wrong, the general plan.  I always find these fascinating.  Of course they have two stores in Manhattan which is why they filed there. 

February 17, 2011 in Current Affairs | Permalink | Comments (0) | TrackBack

February 15, 2011

Owner of unfinished Wyndham hotel files for bankruptcy

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February 15, 2011 in Current Affairs | Permalink | Comments (0) | TrackBack

Seahawk to seek bankruptcy protection, sell assets

"Gulf of Mexico driller Seahawk Drilling Inc (HAWK.O) said it would file for bankruptcy protection and sell its 20 shallow-water rigs to bigger rival Hercules Offshore (HERO.O) for about $100 million."

Read more here.

February 15, 2011 in Current Affairs | Permalink | Comments (1) | TrackBack