Bankruptcy Lawyers

Wisconsin.

July 20, 2010

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Bankruptcy News

President Signs Bankruptcy Abuse Prevention, Consumer Protection Act

THE PRESIDENT: Thank you all. Please be seated. Welcome. Thank you very much for coming today. Today we take an important action to strengthen -- to continue strengthening our nation's economy. The bipartisan bill I'm about to sign makes common-sense reforms to our bankruptcy laws. By restoring integrity to the bankruptcy process, this law will make our financial system stronger and better. By making the system fairer for creditors and debtors, we will ensure that more Americans can get access to affordable credit.

I'm pleased to be joined today by the Attorney General Al Gonzales. I want to thank the bill sponsors in the House and the Senate -- Senator Chuck Grassley of the Senate -- I think you told me you'd been working on this bill for nine years. That's a long time. I appreciate Congressman Jim Sensenbrenner from the House for being the sponsor in the House. Thank you.

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Did You Know?

Special purpose entities in bankruptcy can be used
A business, usually a special-purpose entity, established to perform limited functions and to have one or a few primary creditors. This type of entity is sometimes established to protect lenders on large, complex projects, when the lender is to be paid solely or almost exclusively out of the money generated when the project becomes operational.

	Newsroom
	News about Bankruptcy in Wisconsin and nationwide: U.S. Bankruptcy Court Approves SGI's Disclosure Statement For Voting Purposes MOUNTAIN VIEW, Calif.— Silicon Graphics (OTC: SGID) announced today that its Disclosure Statement has been approved by the U.S. Bankruptcy Court fo... Read more > New Bankruptcy Law 2005 Beginning on October 17, 2005, most individual debtors filing for bankruptcy relief were required to complete either Official Bankruptcy Form B22A ... Read more > SEC Files Supplement to Proposed Worldcom Penalty Settlement; Proposal Subject to District and Bankruptcy Court Review and Approval The Securities and Exchange Commission today filed documents modifying the proposed settlement of its claim for a civil penal... Read more > More Bankruptcy News >

Bankruptcy Terms

Today's Terms

Bankruptcy estate

Definition:
Generally, the property of the debtor that is subject to the jurisdiction of the bankruptcy court.

Exclusivity (period of)

Definition:
A debtor in Chapter 11 has the exclusive right to file a plan of reorganization for the first 120 days of its bankruptcy. Thereafter, unless the period of exclusivity is extended by the court, other parties may file reorganization plans.

Debtor-in-possession

Definition:
The debtor which remains in control of operations; as opposed to having a trustee operate the company.

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Bankruptcy Resources

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Bankruptcy Hot Topics

Topics Related to Bankruptcy:

Chapter 7
Chapter 13
Chapter 11
Chapter 12
Chapter 9

Wisconsin Bankruptcy Attorney

If you live in the following cities and need a Bankruptcy attorney you should contact our Bankruptcy Attorney as soon as possible:

Appleton
Beloit
Burlington
Chippewa Falls
De Pere
Eau Claire
Fond Du Lac
Franklin
Green Bay
Janesville
Kenosha
La Crosse
Madison
Manitowoc
Marshfield
Menomonee Falls

Milwaukee
Neenah
New Berlin
Oak Creek
Oconomowoc
Oshkosh
Racine
Sheboygan
Stevens Point
Sun Prairie
Superior
Waukesha
Wausau
West Bend
Wisconsin Rapids

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