News: Bankruptcy

Believe it or not, in this era of corrupt companies going belly up, the cost of corporate bankruptcies is bottoming out. But that doesn't mean bankruptcy cases aren't lucrative for law firms, a new study says.

Boston Clergy Accused of Abusing Almost 800 People, Report Says.

Following major management changes within the corporate structure and declining national and local sales, 28 Burger Kings in Kansas and Nebraska have filed for Chapter 11 bankruptcy.

Enron scandel did not pay $105 million in bonuses on the eve of its bankruptcy to retain workers, as it has claimed, but to let a select few cash in before a court padlocked the till, according to lawyers suing for the return of the money.

Wall Street Firms are Famous for Profiting in Good Times and Bad.  Federal Bankruptcy Exemptions : But their efforts to persuade Congress to let them earn fees advising the same companies in bankruptcy that they counseled in better days has met with opposition from their chief regulator, the Securities and Exchange Commission.

Two years after it filed Chapter 11, the bankruptcy case of Wolf Camera Inc. will wind to a close in the next two months.

When you file for bankruptcy, something called the automatic stay immediately stops any lawsuit filed against you and virtually all actions against your property by a creditor, collection agency or government entity.

The federal government and bankruptcy law have not punished WorldCom enough, organized labor and rivals of the bankrupt telecommunications company told Congress on Tuesday.

Spiegel Inc., the parent company of Redmond retailer Eddie Bauer, received federal bankruptcy court approval last week to pay more than $26.4 million in bonuses to its top 225 employees.