In Wednesday’s Business Week, Ben Steverman’s anaylsis of the possiblities of upcoming bankruptcy activity indicates that filings, rather than slowing as the economy gains its footing again, will instead swell with the failure of numerous entrepreneurial and high-debt companies. His opinion is that this will be due largely to the continuing spin-down in consumer demand [...]

“We may be seeing the beginning of the end of the recession,” President Barack Obama said yesterday in Raleigh.  Indeed, parts of the country are starting to experience some economic stability, according to the latest figures issued by the Federal Reserve, but the Fifth District of Virginia, North Carolina and  South Carolina remains weak. 

As a business attorney, I tell clients they should have a trusted “kitchen cabinet” of professionals to go to for advice:  attorney, accountant, insurance agent and financial planner.  It is nice to know someone and feel comfortable before you have a problem.  Yet, finding a trustworthy professional in these fields can be daunting.  How can [...]

Although they said it could not be done, headlines now proclaim that Chrysler and General Motors have navigated the bankruptcy process in record speed.  Indeed, new companies have “emerged” from each bankruptcy case.  However, both bankruptcy cases are still pending (see here and here), and much more still needs to be done in each bankruptcy case, [...]

Federal Bankruptcy Court Judge Robert Gerber approved the sale of most General Motors assets to a new corporation to be owned by the governments of the United States, Canada and the province of Ontario, the United Auto Worker’s Voluntary Employee Benefit Association trust (“VEBA”), and GM bondholders.  Gerber today also denied a “fast track” appeal to [...]