Two recent criminal trials highlight the risks in working
for what turns out to be a Ponzi scheme perpetrator. Not only might you lose
money, or be hit with a large civil judgment, but landing in prison is becoming
a reality for some as well.
Accountants
in the Stanford Financial Ponzi Scheme

In the Ponzi scheme of Stanford Financial Group Co., two
accountants at the firm, ex-Chief Accounting Officer Gilbert Lopez, 70, and
Global Controller Mark Kuhrt, 40, are standing trial in connection with charges
that they helped R. Allen Stanford conceal his Ponzi scheme by creating false
financial statements.
At trial, prosecutors told the jurors that Lopez and
Kuhrt had carefully tracked approximately

(posted 1 year 48 weeks ago)

Henson v. Bank of America, N.A. (In re Henson), 477 B.R. 786 (Bankr. D. Colo. 2012) – In Henson a foreclosure sale was stayed by the debtors’ filing of a chapter 13 bankruptcy.  The bank allowed the sale date to be automatically continued from week-to-week during the bankruptcy, including after a chapter 13 plan of reorganization was [...]

(posted 1 year 48 weeks ago)


Filing for bankruptcy is a complicated and, at times, emotionally stressful matter. What can be even more trying during such distressful times, however, can be making some common bankruptcy mistakes that can end up costing you more money or causing your to lose some of your precious assets. In these circumstances, it’s important to work with our skilled, trusted bankruptcy lawyers who can efficiently guide you through the process – at minimal cost and with minimal mistakes.
Here are some of the most common bankruptcy mistakes and pitfalls:

Oregon Bankruptcy Lawyer
(posted 1 year 48 weeks ago)

small business bankruptcyWhen you started your business, did you have the dream of being your own boss? Did you quit your old job working for one boss, only to find out that you now worked for every single customer, supplier, and business contact?

Maybe you made some mistakes when you started. Maybe circumstances beyond your control caused problems with your bottom line. Let's face it, sometimes even the best small business operation can still run into trouble.

Even when your business is running well, you might still have trouble with your personal finances. Whatever the case, a personal bankruptcy can often be the best solution.
But I Thought it Had to Be a Business Bankruptcy?
Most business owners assume that if they file for bankruptcy, it has to be a business bankruptcy. They also assume that if their personal financial situation is in trouble, they can't file a personal bankruptcy without harming their business.

Both of these assumptions are incorrect. In reality, a personal bankruptcy is often the best way to solve business trouble, personal financial issues, or a combination of both.

Arizona Bankruptcy Help
(posted 1 year 48 weeks ago)

The Southern District of Illinois Bankruptcy Court uses a streamlined process to confirm Chapter 13 Plans once all substantive and procedural requirements have been satisfied.  The bankruptcy court reviews the case for objections and compliance with bankruptcy law.  Sections 1322 and 1325 of Title 11 United States Code, provide the criteria a court must consider before approving a Plan.  When all is well, the court confirms the Plan and issues an Order Confirming Chapter 13 Plan in a judicious and expeditious manner.  But that is not all the bankruptcy court does at confirmation and confirmation is not all the confirmation order orders. In fact, confirmation itself, “The debtor’s Chapter 13 plan is confirmed.” only takes up 7 words of the 381 word confirmation order.
Pursuant to local rules and procedures, the Southern District of Illinois Bankruptcy Court includes a requirement in the confirmation order that debtor must deliver two things to the trustee each year.

Bankruptcy Law Network
(posted 1 year 48 weeks ago)

Posted by Kathy Bazoian Phelps
One of a receiver’s duties in administering a Ponzi scheme case is to commence appropriate litigation to avoid and recover property that the Ponzi schemer fraudulently transferred to third parties. By law, a receiver generally has the benefit of nationwide service to reach a defendant’s assets that are located in other jurisdictions. See 28 U.S.C. §§ 754 & 1692.

The Ponzi Blog
(posted 1 year 48 weeks ago)

The Means Test helps determine if a debtor qualifies for Chapter 7 bankruptcy.  While it is used to review household income and expenses, it may also determine if a debtor can make payments in Chapter 13 bankruptcy depending on how much they earn. Along with determining how much a debtor earns, the test reviews household [...]

AllmandLaw
(posted 1 year 48 weeks ago)

Below is an outline of the basic mediation process and the potential order of events during mediation:

•Beginning the Mediation
• Mediator allows for introductions and sets forth ground rules for the mediation
•Opening Statements by Parties (“Stories”)
•Mediator reviews process of mediation, strengths-weaknesses/cost-benefit analyses for each party
•Caucusing— a useful tool to allow:
• The parties to tell their stories with assumed confidentiality
• The mediator to play the “Devil’s Advocate”
• The mediator to understand party positions and interests
• The mediator to address uneven bargaining positions
•Process/Actual Mediation (“Getting to Yes”)
•Separating the people from the problem
•Focusing on interests, not positions
•Inventing options for mutual gain
•Insisting on using objective criteria
•Resolution/Agreement
•Impasse
•More Caucusing
•Continued Mediation
•Stop Mediation

Mediation Banca Rotta
(posted 1 year 48 weeks ago)

Capital is just not an issue for these banks. All the capital they may ever need is a phone call and wire transfer away.

BankThink
(posted 1 year 48 weeks ago)

NORTH OF THE BORDER UPDATE
This article has been contributed by Sandra Abitan and Julien Morissette. Sandra Abitan is a partner in the Insolvency and Restructuring Group of Osler, Hoskin & Harcourt LLP, and Julien Morissette is an associate in the group.
In a judgment rendered on September 14th, the Superior Court of Québec issued a rare order for full indemnity costs in proceedings under the Companies’ Creditors Arrangement Act (CCAA). It ordered an alleged creditor, the Deputy Minister of Revenue of Québec, to compensate another group of creditors for advancing a claim through litigation which it termed “aggressive.”

(posted 1 year 48 weeks ago)