The COMI
(posted 1 year 47 weeks ago)

Looks like Arcapita found the money it was looking for:

http://www.gcginc.com/cases/arcapita/pdflib/610_11076.pdf

The COMI
(posted 1 year 47 weeks ago)

Per http://theponzibook.blogspot.com:

Wednesday, October 31, 2012Posted by Kathy Bazoian Phelps

The COMI
(posted 1 year 47 weeks ago)

Per www.globalinsolvency.com:

Thu., November 1, 2012The travel plans of thousands of Australians this summer are up in the air after Classic International Cruises was placed into voluntary administration today, The Australianreported. Lawler Partners was this morning appointed voluntary administrators and customers with cruises booked on the MV Athena cruise ship are being urged to contact them to make a claim. The company had been in talks to replace the Athena with a German ship after it was impounded in France over debts, but talks in Europe broke down. Bradley Tonks, from Lawler Partners, said they were still trying to get a replacement ship. The Athena has been operating out of Western Australia for nine years and has a strong repeat passenger rate. The Athena was due to operate seven cruises out of Fremantle and four out of Adelaide in the coming months, with 6,000 passengers booked on the cruises.

The COMI
(posted 1 year 47 weeks ago)

Per The Am Law Daily:

October 31, 2012
By Sara Randazzo

The COMI
(posted 1 year 47 weeks ago)
Shenwick & Associates
(posted 1 year 47 weeks ago)

As Halloween goblins fade and we start to look at what we have left to do this calendar year, one thing our Boston bankruptcy clients ask after we inform them that they can protect their IRAs and 401ks in bankruptcy, is how they could or should invest their retirement savings.

First and foremost, we want to remind folks that these funds were designed by Congress as retirement vehicles. The reason they are tax deferred is to encourage investments NOW for taxable withdrawals LATER during retirement. They were not designed as savings accounts for cars, boats, horses or houses. Sure, some 401k plans allow for loans, however, those loans should only be taken out very cautiously. Furthermore, if the loan is not paid back before you leave or are discharged, there is an immediate payback requirement in most programs; if you can't pay it back, you will owe taxes and penalties.

We have seen too many folks file for personal bankruptcy after using their retirement account to pay for some of their debt, only to find out that they ran out of retirement monies, but there is still debt. These folks sometimes owe the taxes and penalties which are not easily discharged. Had they come to a personal bankruptcy lawyer ahead of time, we could have undertaken bankruptcy planning and likely saved the whole retirement account, protected it in bankruptcy, and discharged all of the debts.

(posted 1 year 47 weeks ago)