The Department of Justice today announced new guidelines for the payment of attorneys’ fees and expenses in large chapter 11 bankruptcy cases in order to enhance disclosure and transparency in the compensation process and to help ensure that attorneys’ fees and expenses are based on market rates.

The U.S. Bankruptcy Court for the District of Delaware approved a settlement agreement today between the United States and the APCO Liquidating Trust (a successor in interest to APCO Oil Corporation). The settlement follows seven years of litigation concerning the APCO Liquidating Trust’s liability under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA or “Superfund”) for costs incurred by the U.S. Environmental Protection Agency (EPA) for the ongoing cleanup of the Oklahoma Refining Company (ORC) Superfund Site located in Cyril, Okla.

Less than two months into the coronavirus crisis, and despite the massive infusion of federal funds, a rise in business bankruptcies has already begun. Even if the current efforts by Congress, the Federal Reserve, and Treasury to counteract the economic shutdown are effective, an enormous wave of bankruptcies may come. How effective will the bankruptcy…

Less than two months into the coronavirus crisis, and despite the massive infusion of federal funds, a rise in business bankruptcies has already begun. Even if the current efforts by Congress, the Federal Reserve, and Treasury to counteract the economic shutdown are effective, an enormous wave of bankruptcies may come. How effective will the bankruptcy…

It was pretty much inevitable; the company just couldn't capitalize on the digital revolution.

Garlock Bankruptcy Overview Video

The luxury department store chain had been struggling with competition from online rivals and dwindling cash before the pandemic.

Stage Stores has about 700 department stores predominately in small towns and rural communities. It employed roughly 13,600 full-time and part-time employees as of February.

If J.C. Penney files for bankruptcy without financing in hand, it could doom the department store chain's restructuring process.

CNBC's Courtney Reagan reports on retailer Neiman Marcus' decision to file for Chapter 11 bankruptcy amid the coronavirus pandemic.

Norwegian Cruise Line CEO Frank Del Rio said the troubled company has raised enough liquidity to get through potential 18 months of zero revenues.

CNBC's Phil LeBeau on a report that Hertz has hired a firm to assist with bankruptcy preparations. With CNBC's Melissa Lee and the Fast Money traders, Guy Adami, Tim Seymour, Dan Nathan and Karen Finerman.

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance

The wild plot involved faking his own death, stealing the identity of a Florida attorney, using an app to disguise his voice, and pretending to have prostate cancer, bone cancer, and a brain aneurysm.Unemployed Virginia man Russell Louis Geyer was so determined to hide his assets in bankruptcy proceedings, he even threw his own wife under the bus—duping her into handing over $70,000 and using her email address to inform an attorney he was dead. Geyer, 50, pleaded guilty on Wednesday to contempt of court, bankruptcy fraud, wire fraud, and aggravated identity fraud. He faces up to life in prison.“In an effort to game the bankruptcy system, Mr. Geyer devised a made-for-TV plot that ultimately collapsed under its own weight,” U.S. Attorney Thomas Cullen said in a statement.Minnesota Man Killed Wife, Buried Her Under Home, Then Faked Her Disappearance: Court DocsGeyer and his wife, Patricia Sue Geyer, from Saltville, filed for voluntary bankruptcy in late 2018, listing liabilities of $532,583.80, according to court documents.They were behind on payments for three of their four vehicles, for both their home and a rental property they owned, and for most of their furniture. They hadn’t paid electricity bills, bank overdrafts, credit card bills, and dozens of medical bills, and more than 50 creditors were chasing them for everything from their 65-inch TV to their Kawasaki ZX1000 motorbike. At one point in the bankruptcy proceedings, Geyer told his lawyer, John Lamie, he’d gone to the Mayo Clinic in Florida to be treated for prostate cancer, but it had spread to his bones and he intended to stop treatment.Four months later, according to a criminal complaint, he told Lamie he was now in a hospice in Florida after treatment failed. He said his wife was there, too, and had undergone bypass surgery for a heart condition. She wasn’t cleared to drive back to Virginia, he claimed.Then, a few days before September 5, 2019, when Geyer was due to appear in person at a bankruptcy hearing, Lamie received an email from Geyer’s wife. Her husband was dead, it said. He’d apparently had a brain aneurysm in June while being transported back from Florida after his chemotherapy treatments.Around the same time, Geyer’s attorney got a threatening email from an attorney in Florida who said he’d sold the assets that debtors were trying to recover in the bankruptcy case. “[Patricia] doesn’t know anything about this, and neither does Russell,” the email said. “I have complete control of Russell and told him to kill himself. You will not find him in time.” He ended the email by saying: “I am on a plane out of the country.”However, investigators later found that the Florida attorney whose name was used in the email existed but had nothing to do with the case. Geyer had simply set up a bogus email account using his name.‘Please Come Get Me’: Fatal Indianapolis Police Shooting May Have Aired on Facebook He even used the attorney’s identity to fleece his wife, a registered nurse who earned $3,200 a month, for $70,000. Geyer told his wife he’d won a $1 million settlement in Florida in an unrelated court case but needed her to pay $70,000 in legal fees for the money to be released. He used the bogus email address and an app that disguised his voice to pose as the Florida attorney and confirm the settlement was imminent. “It was all untrue,” the U.S. Attorney’s Office for the Western District of Virginia said in a statement on Thursday.The plot unraveled on Sept. 4, the day before the bankruptcy hearing, when a process server visited the couple’s Saltville home to give them a notice to appear.The home was empty but, just as the process server was leaving, Geyer and his wife arrived home in their car and got out—far from the Florida hospice he had claimed to be languishing in. The next day, Patricia Geyer, who said she’d largely let her husband deal with the bankruptcy case, left home to attend the court hearing about an hour after her husband. He never showed up.She told the court she had no idea about her husband’s wild story. She said they hadn’t been in Florida recently, she hadn’t had bypass surgery, and her husband didn’t have cancer. The first time she’d heard of her husband’s supposed death was two days earlier, when Lamie called her to say he’d heard about Geyer’s passing.“A few days ago, [Lamie] called me at work,” she said under cross-examination in court. “I got a message to call him. So I immediately called him and then he told me all this stuff about Russell being dead and all that. It just floored me, so I had no clue.”“Where’s Mr. Geyer now?” a judge asked her.“I couldn’t tell you, because he left the house this morning an hour, hour before me. And he was supposed to come down here and be here at 10:30, and then when I ended up here, he wasn't here. So I don’t know.” After that day in court, she only ever received text messages from Geyer saying he was in a hospital in West Virginia following a suicide attempt. Geyer was tracked down two weeks later and charged with criminal offenses. He underwent a psychiatric evaluation as part of the criminal case but was found to be competent to stand trial.“Despite its complexity and shameless use of deceit, including against his own wife, Mr. Geyer’s scheme failed to account for the FBI’s and the US Attorney’s office’s commitment to protect both fraud victims and our judicial system,” FBI Special Agent David W. Archey said.Read more at The Daily Beast.Got a tip? Send it to The Daily Beast hereGet our top stories in your inbox every day. Sign up now!Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more.

Gold's Gym is one of the biggest names in the industry to file for bankruptcy due to the economic slowdown caused by coronavirus lockdown.

US retailer of preppy clothing was already under pressure from heavy debt load

Upscale US department store follows J Crew as latest debt-burdened chain felled by pandemic

US car rental group backed by billionaire Carl Icahn extends crucial payment deadline

Hedge fund calls for court investigation into 2018 transfer of MyTheresa

First state company to enter business rescue since end of apartheid

Her dad Mohamed, 71, filed for chapter 11 on Wednesday for his real estate development company 901 Strada LLC, over the construction of his $100million 30,000 square-foot mansion.

The filing - made just hours before the start of the Thanksgiving holiday - raises the concern that if Hadid doesn't pay the estimated $5 million it will cost to demolish his half-built colossus.

May 9 (Reuters) - U.S. luxury department store chain Neiman Marcus Group said on Friday it received court approval to access $675 million of its...

Donald Trump lawyer Jay Sekulow was the subject of a New York Times profile as Trump lawyer Rudy Giuliani is under fire, and the paper reported Sekulow voted for Hillary Clinton.

She's never had any trouble spending cash, but Teresa Guidice is hoping to prove she has earning power too on the new series of Celebrity Apprentice. The 39-year-old Real Housewives of New Jersey star, who first filed for bankruptcy with her husband Joe Giudice in 2009, joined the new line of up of contestants in New York today.

The Premier League stood accused of moral bankruptcy on Wednesday night as its clubs pocketed tax-payers' money for non-football staff while paying players more than £100,000-a-week.

There are no new triggers for the markets to anticipate. Now, what happens globally, will follow locally in India

The brand, whose clothes have been worn by former first lady Michelle Obama, said online sales operations, which account for more than half its revenues, will continue as normal.

U.S. luxury department store chain Neiman Marcus Group said on Friday it received court approval to access $675 million of its debtor-in-possession financing, which will allow continuity of the company's business during Chapter 11 bankruptcy proceedings and enable it to pay employees and vendors.

Neiman Marcus Group filed for bankruptcy protection on Thursday, marking one of the highest-profile collapses yet among retailers forced to temporarily close stores in response to the COVID-19 pandemic. Freddie Joyner has more.

Sahoo, a financial markets expert, was appointed as IBBI Chairperson for a period of five years last month

Published: 2001

Bennett's A-Z Guide to Bankruptcy: A Professional's Handbook provides a review of the bankruptcy process for lawyers, accountants, trustees, lenders, individuals, small business debtors, and corporations. This handy bankruptcy primer is written in clear and accessible language and includes a chapter of forms and precedents, legislation excerpts, and a glossary in order to provide the reader with a general outline of the bankruptcy process.

Topics covered:

• What is bankruptcy?
• What are the ways to go bankrupt?
• What property can you keep?
• Can creditors sue you after bankruptcy?

If you would like more details about this product, or would like to order a copy online, please click here.

Published: December 2014

Perfect for Corporate and Commercial Lawyers, Trustees, Accountants, Debtors, Lenders, Directors, Corporate Secretaries, or In-House Corporate Counsel, Bennett on Bankruptcy, 17th Edition explains leading cases from a practitioner’s point of view.

What's new:

• Over 100 new cases
• Commentary continues to be revised and expanded
• Two new Ontario Template Receivership Orders as well as new practice directions
• A new Ontario Template CCAA Order
• Four new or revised Directives, including the Procedure Governing Trustee Professional Conduct Proceedings and the updated Surplus Income requirements
• Seventeen new Notices
• One Bankruptcy and Insolvency Act form has been revised
• Reference to the Discussion Paper on the 2014 Statutory Review of the Bankruptcy and Insolvency Act and the Companies' Creditors Arrangement Act

About the Author
Frank Bennett, L.S.M., LL.M., is the past Chair of both the provincial and national Bankruptcy and Insolvency sections of the CBA, a council member and currently chair of the Foreign Conference Committee of the Ontario Bar Association, a former member of the Bankruptcy and Insolvency Advisory Committee to Industry Canada, a frequent lecturer, and author of several books and articles.

If you would like more details about this product, or would like to order a copy online, please click here.

Published: December 2008

Bennett on Bankruptcy Precedents, 2nd Edition is a collection of forms and precedents adapted from the prescribed forms under the Bankruptcy and Insolvency Act. These are designed to guide the bankruptcy practitioner through the complete bankruptcy process, from the initial retainer and court filings through to discharge and appeals.

What's included:

• Precedents
• Companies' Creditors Arrangements Act
• Commentary
• A DVD containing the forms and precedents in electronic format

If you would like more details about this product, or would like to order a copy online, please click here.