South Florida Bankruptcy Lawyer

In 2005, new laws were passed to reduce the number of bankruptcies filed. The institution of a means test was meant to make it more difficult to qualify for Chapter 7 bankruptcy, and reduce bankruptcy abuse.
Three years after these laws were instated, bankruptcy filings are approaching one million in one year. Next year it is […]

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Michigan based trucking company, Gainey Corp. is filing for bankruptcy under Chapter 11. This allows the company to structure a repayment plan while keeping creditors at bay.
The company failed to repay over $238 million of a $260 million loan from Wachovia. Wachovia filed a suit against the company shortly after they defaulted.
Financial crises are becoming […]

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Hawaiian souvenir company Hilo Hattie recently filed for bankruptcy under Chapter 11. The company is not, however, shutting down. According to their Chief Executive, “We’re not closing. We’re staying in business. We see this as a fresh start.”
This filing comes only five months after Hilo Hattie was bought out by TOC Inc. Luckily, none of […]

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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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