Topics: Bankruptcy - 57 results

After the former front man for late-60s and 70s supergroup Sly and the Family Stone sued his former manager for tricking him into signing away his royalty rights, the manager is now putting Stone’s production companies into bankruptcy.   Long Story It’s been a parade of legal woes for Stone, whose real name is Sylvester Stewart. The IRS came after him in the 80s and put a lien on his income, taking most of the royalties from his hits for …

After attempts to pay back the student loans that financed his law degree pushed him into bankruptcy, an Oregon man who struggled to become a lawyer but never did will have at least some of those loans forgiven, according the 9th U.S. Circuit Court of Appeals.   Disagreement over Good Faith By the end of the 1990s, Michael Hedlund had borrowed $85,000 in student loans in order to attend law school, according to the appellate court’s May 22 opinion. He …

While students get breaks on their loans in some ways, filing bankruptcy has never been one of them. But if a federal appellate opinion and action in Congress are any indicators, that could be changing.   Rural and Poor The 7th U.S. Circuit Court of Appeals on Apr. 10 held that a woman’s student loan debt fell under the “hardship exception” to the general rule that such debt is not dischargeable in bankruptcy. The exception is nothing new; what’s notable …

Last year had its share of big name bankruptcies including Hostess, maker of Twinkies, and The Kodak Eastman camera and film company. “Octomom” Nadya Suleman filed for personal bankruptcy. Plus, don’t forget in 1991, 1992, 2004 and 2009, Donald Trump filed corporate bankruptcies. (AP Photo credits: Suleman/ Damian Dovarganes and Trump/ Evan Agostini/ Invision.) The infographic below provided by the Doan Law Firm shows statistics, reasons people file personal bankruptcy and the signs that often precede bankruptcies. Created by Doan …

The judge in Casey Anthony’s bankruptcy case said on Apr. 9 that he would take 30 days to decide whether the infamous mother would have to sell her life story – if she writes one – to help pay off almost $800,000 in debts amassed defending herself against charges she murdered her own child.   Money to Be Made? The trustee in her bankruptcy case reportedly wants her to sell – he says he has received offers from $10,000 to …