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Illinois Supreme Court Debates Public Construction Bond Act

Our reports on the oral arguments from the May term of the Illinois Supreme Court continue with Lake County Grading Company, LLC v. The Village of Antioch. Lake County – which comes to the Court from the Second District –...more

Distress in the Defense Industry: Opportunities and Obstacles

The U.S. defense industry is facing a new battle – financial distress. Withdrawal of U.S. forces from Afghanistan and Iraq combined with reductions in the defense budget and sequestration have taken a toll on many U.S....more

Affairs of State: When States Are Creditors: Why § 525 Matters and Should Be Expanded

One of the pillars of a debtor’s fresh start is the anti-discrimination provisions of § 525 of the Bankruptcy Code, which codifies the U.S. Supreme Court’s decision in Perez v. Campbell. The Court held that two state statutes...more

Russian Legislation Update - 10 February – 2 March 2014

In This Issue: - Banking - Anti-Money Laundering - Concession Agreements - Public Procurement - Employment/Foreign Citizens - Court Practice: Bankruptcy - Excerpt from Banking - On 25...more

Public Works Projects and Municipal Bankruptcies

The good news is that public works construction projects for municipalities are projected to remain a major sector of construction activity for the foreseeable future. The not-so-good news is that municipal bankruptcy filings...more

Business Law Newsletter - November 2013

In This Issue: - False Notes in the Music Industry: Fiduciary Duty of Business Partners - Bankruptcy and Government Contractors - “I Have a Registered Trademark, Now What?” 3 Steps to Monitor and Enforce Your...more

Bankruptcy and Government Contractors

In light of the federal government budget crisis, sequestration and the recent government shutdown, it is likely bankruptcy filings will rise among those who do business with the government. A debtor seeking to reorganize...more

Illinois Supreme Court to Decide Who Pays When the General Contractor Goes Bust

Today, as we await the start of the Court’s November term, we begin our first look previews at the most recent additions to the Court’s civil docket. First up is Lake County Grading Company, LLC v. The Village of Antioch, a...more

DIA Urges Detroit to Stay Away from Art Collection

DIA Urges Detroit to Stay Away from Art Collection by Joel R. Glucksman on September 6, 2013 Several creditors and pension groups have teamed up to challenge the constitutionality of the Detroit bankruptcy filing....more

Creditors File Objections to Detroit Bankruptcy

Creditors File Objections to Detroit Bankruptcy by Joel R. Glucksman on August 30, 2013 More than 100 objections have been filed by creditors, opposing the eligibility of Detroit to file Chapter 9 municipal bankruptcy...more

U.S., Cayman Islands Reach Tax Deal

U.S., Cayman Islands Reach Tax Deal by Joseph M. Donegan on August 28, 2013 Falling in line with the push for greater global collaboration to combat tax evasion, the United States and the Cayman Islands have reached a...more

Harrisburg Holds ‘Wild West’ Auction to Reduce Debt

Harrisburg Holds ‘Wild West’ Auction to Reduce Debt by Joel R. Glucksman on August 8, 2013 Harrisburg, Pennsylvania, has been struggling for years to unload its heavy municipal debt and repair its broken economy. The...more

Detroit Businesses See Bankruptcy as Opportunity for 'Stability'

Detroit Businesses See Bankruptcy as Opportunity for ‘Stability’ by Joel R. Glucksman on August 1, 2013 When cities file for municipal bankruptcy protection, public works projects, civil servants, and public...more

Local Governments Facing Tough Times, Bankruptcy

What do Stockton, San Bernardino and Mammoth Lakes,California have in common? If you were thinking about warm weather, plenty of sunshine and the California lifestyle, you might be right, but that’s not the answer we’re...more

Local Governments Facing Tough Times, Bankruptcy

What do Stockton, San Bernardino and Mammoth Lakes,California have in common? If you were thinking about warm weather, plenty of sunshine and the California lifestyle, you might be right, but that’s not the answer we’re...more

Local Governments Facing Tough Times, Bankruptcy

What do Stockton, San Bernardino and Mammoth Lakes,California have in common? If you were thinking about warm weather, plenty of sunshine and the California lifestyle, you might be right, but that’s not the answer we’re...more

Alabama Supreme Court Rules Cities, Counties Can Declare Bankruptcy

Alabama Supreme Court Rules Cities, Counties Can Declare Bankruptcy by Joel R. Glucksman Alabama’s state Supreme Court ruled that cities and counties that are not holding bond debt are still protected under bankruptcy...more

MUNICIPAL TAXES, TAX SALE CERTIFICATES, AND THE MATTER OF PRINCETON OFFICE PARK – (Part 1 of 4) – The Need for Muncipalities to...

The Need For Municipalities To Sell Tax Liens In New Jersey, unpaid real estate taxes are a “continuous lien” on land, N.J.S.A. § 54:5-6. However, it is often not easy for municipalities to realize a sufficient financial...more

Harrisburg, PA files for Bankruptcy

Harrisburg, PA files for Bankruptcy Pennsylvania’s capital city Harrisburg filed for bankruptcy protection on Wednesday October 12, 2011. Municipal bankruptcy filings are not common. These cases are filed under Chapter 9...more

Are bankruptcy filings increasing or decreasing?

Are bankruptcy filings increasing or decreasing? This is a common question I receive. Are more people filing bankruptcy now or has it slowed down? The number of cases filed each month isn’t a secret. The courts...more

What is the dollar in the United States

A dollar in the United States is a Spanish Milled dollar coin, or its equivalent, in coin form, containing 371.25 grains of fine silver. Legal authority quoted, cited, and linked....more

Bankruptcy Options for When You Can't Raise Your Debt Ceiling

It is an interesting comparison to watch what is going on Washington with their attempts to raise the debt ceiling and comparing that to your own debt issues. The government has bills to pay, no money, and so it wants its...more

Sale of the Century-Five Days in September

In September 2008 Lehman Brothers Holdings Inc. and Lehman Brothers Inc. (collectively, “Lehman”) sold their historically coveted brokerage business to Barclays Capital Inc. Many believe the sale was necessary to prevent a...more

Attorney General Suffers Setback in Placement Agent Suit

Yesterday, Bankruptcy Court Judge John Peterson issued his written decision regarding whether the State of California should be granted relief from the bankruptcy automatic stay in order to pursue a civil enforcement action...more

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