Monica Stitt, a 45-year-old woman, is unemployed, disabled, and living far below the poverty line. Still, a federal district judge decided last week that she could not cancel more than $37,000 in student debt in bankruptcy, because she hadn’t made a good-faith attempt at repaying the loans. Her entire income—about $10,000 per year, according to […]
WASHINGTON — The Supreme Court ruled Monday that one of the nation’s biggest law firms is not entitled to recover $5.2 million in legal fees it incurred in the course of a bankruptcy proceeding. The 6-3 ruling said the firm Baker Botts could not collect additional fees it billed during a side dispute over whether […]
WASHINGTON — A unanimous Supreme Court ruled Monday that homeowners who declare bankruptcy can’t void a second mortgage even if the home isn’t worth what they owe on the primary mortgage. The justices ruled in two Florida cases that bankrupt homeowners can’t “strip off” a second loan even if they are underwater on the first […]
A Delaware bankruptcy judge has approved the sale of assets of RadioShack to hedge fund Standard General LP that will keep more than 1,700 stores open and preserve more than 7,000 jobs.
A Rockville company on the hook for an $8 million judgment it owes a former landlord has suffered two legal setbacks this month.
Caesars Entertainment Operating Co. will learn Wednesday whether its $20 billion restructuring bid will be heard in a bankruptcy court in Chicago, its chosen venue, or in Delaware, where creditors fighting the plan want the case to stay.
The trustee for a bankrupt and scandal-ridden Silver Spring payroll processing company cannot recover nearly $28 million it paid on behalf of clients to the Internal Revenue Service in the 90 days prior to declaring bankruptcy, a federal appeals court has ruled.
In the six months since 1st Mariner was sold, the bank has kept its 16 branches open and opened about 200 new consumer deposit accounts per month, it says
The Supreme Court said Monday it will decide whether homeowners who declare bankruptcy can void a second mortgage if the home’s market value has dropped below the amount they owe on the first mortgage.
A judge on Friday approved Detroit's plan to get out of bankruptcy, ending the largest public filing in U.S. history and launching the city into a turnaround that will require discipline after years of corruption, budget-busting debt and an exodus of residents.
W.R. Grace & Co., the Columbia-based manufacturer of specialty chemicals and materials, is set to celebrate the opening of its new headquarters in Columbia just several months after it emerged from one of the longest bankruptcy cases in history.
A lawyer for Detroit has urged a judge to approve a plan to get out of bankruptcy, calling it a sweeping effort to revive the city by cutting billions in debt and putting more than $1 billion into better services.