Judge Hollis’ office recently revised its application for approval of fees in Ch. 13 cases. Now Cases filed on or after May 1 Attorney must file fee application per General Order No. 07-02. Fees up to $3,500 will be awarded through completion of the case without itemization as long as the application reflects that debtor...Read More
On Thursday the nation’s 5th largest air carrier was cleared for take off and its shares began trading again on the NYSE for the first time since its 20-month reorganization began. The event marked what ought to be the last vestige of the wave of airline bankruptcies after 9/11. According to government figures, in 2005...Read More
From Judge Goldgar”s page on the site maintained by the Bankruptcy Court for the Northern District of Illinois, Eastern Division: In General Attorneys seeking fees in Chapter 13 cases must file an application with itemization of time in 10th“s of an hour and a description of services rendered unless they used the Court”s Model Retention...Read More
As noted in this article and my recent post on the subject, the bankruptcy of hip/hot cell phone company Amp’d Mobile could have far-reaching implications for this niche industry. Here is what was noted in that blog Hypergrowth Not To Blame. On June 1st, Amp’d filed for Chapter 11 citing growth as a disruptive element...Read More
This Notice and Order to all Creditors regarding Claims Bar Date in Chapter 11 has been added to Judge Schmetterer’s Required Forms List. :: Bankruptcy Attorney in Illinois :: M. Hedayat & Associates, P.C. ::Read More
This recent item has to do with the reaction of a bankruptcy Judge in Florida to a Chicago lawyer who referred to that Judge on the record as a few fries short of a happy meal. The Judge subsequently issued a Rule to Show Cause stemming from that comment. What ensued among members of the...Read More
in this piece CNN Money reported recently that many borrowers who qualify for first-tier loans are being fed so-called subprime loans instead, meaning that they are paying way too much up front in costs and junk fees, not to mention being saddled with high interest rates and a prepayment penalty in the event that they...Read More
on june 1st despite amassing a user base of over 200,000 and wading through $360,000,000 (yes, $360 million!) in startup money, Amp’d Mobile had to file for Chapter 11 protection. but not to despair; they issued this press release On June 1st, 2007, Amp’d Mobile Inc. filed for protection under Chapter 11 … as a...Read More
eFinancedirectory.com April brought more foreclosures across the nation. Overall filings increased 62% from the same time last year, with filings in California and Nevada shooting up more than 200%. Notice by the way that Illinois is #9 on the list … so much for the stable Midwest market. read more | digg story State Total...Read More
Staff writer Stephanie Potter points out in the Chicago Daily Law Bulletin (Vol. 153 Issue 91) that the First District Illinois Appellate Court in a recent decision held that once foreclosed property goes to a Sheriff’s Sale and changes hands the former owner(s) may no longer sell it, pay off the mortgage holder, and take...Read More
