South Florida Bankruptcy Lawyer

Wachovia Corp. will be acquired by Citigroup Inc. for about $2.16 billion after shares of the North Carolina lender collapsed under unpaid mortgages.
Ranked sixth by assets in the U.S., Wachovia’s all-stock deal wraps up at about $1 a share.  All depositors will be protected, according to the Federal Deposit Insurance Corp.
Citigroup is the biggest U.S. […]

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There is a proposed change in federal bankruptcy law that could end up preventing about 600,000 foreclosures across the United States. If passed, this bill would allow bankruptcy judges to lower mortgage debt.
There are people arguing against this bill, saying that this could increase the risk for lenders, thereby increasing the cost of credit. These […]

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With the Lehman Brothers Holdings’ Chapter 11 bankruptcy filing, this year’s total corporate Chapter 11 and Chapter 7 bankruptcy filings has exceeded that of 2008 with three months left in the year. 2007 saw 78 corporations file for bankruptcy, while 2008 is already at 81.
As for assets, 2008 is passed the amount from 2007 even […]

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After several high-stakes real estate gambles folded, Lehman Brother filed for Chapter 11 bankruptcy protection on Monday.  The company spent the weekend trying to stake a potential buyer through several negotiations.  The two most likely suitors, Bank of America and Barclays PLC turned their backs after the United States government said it would not backstop […]

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Mattress Discounters Corp has filed for Chapter 11 bankruptcy protection from creditors.  This is the second time that the U.S. bedding retailer has filed for bankruptcy since 2002.
According to the company’s CEO, Mattress discounters has been hurt by an industry downturn and the weakened economy.  The year-over-year sales fell every month in 2008.
With 140 stores […]

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