In this case from right in our neighborhood - Joliet, Illinois - the Bankruptcy Court and 7th Circuit agree that using the market value of property instead of its artificially low disposal price in a tax sale reflects the real intent of both Bankruptcy law and Illinois law. At the same time, both Courts agree...Read More
Coal plants are expected to close at an escalating rate over the next 5 years that will eventually be quadruple what it is today. Midwest Generation, a major employer in the Will County area, is not immune to the trend. Management has announced that it is looking into a Chapter 11 reorganization in order to...Read More
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