Your Bankruptcy Information Guide
May 15 (Bloomberg) — In today’s “Movers & Shakers” Bloomberg’s Deirdre Bolton reports that LightSquared Inc. filed for bankruptcy, saying it will seek to resolve the concerns of US regulators who thwarted the company’s plan to deliver high-speed wireless to as many as 260 million people. She speaks on Bloomberg Television’s “In The Loop.” …
In her campaign narrative, multimillionaire U.S. Senate candidate Linda McMahon has often invoked the hardship of losing her home and filing for bankruptcy more than 35 years ago.
But details have been scarce, and records of the bankruptcy itself are hard to come by.
Erie County Councilman Ebert Beeman, who filed for bankruptcy to help stave off the Internal Revenue Service, is facing another challenge from the agency.
The Justice Department, representing the IRS, wants a judge in U.S. Bankruptcy Court in Erie to lift an automatic stay that has prevented the IRS from auctioning Beeman’s four Waterford-area properties to collect a $2.1 million tax debt.
Follow us @ twitter.com twitter.com Welcome to Capital Account. As world leaders arrive in the us for the G8 Summit, not to mention the nATO summit this weekend — we’ll talk about the realpolitik of the US situation when it comes to generating domestic economic growth. Chris Whalen has written about a choice between debt and inflation or war, and says finding a way to avoid these two extremes is now the chief concern. He’s here to talk to us about it in studio! Yesterday, we told you about deposit flight from Greek banks. Today, we talk Spain, where the country is denying reports of a bank run at it’s second largest lender — Bankia…This as Greece swears in a caretaker government to run things until elections next month. This is seen as the next step towards more certainty. However, this begs the question, are we seeing a larger run on Europe? And the latest in Whale-Gate…JP Morgan CEO, Jamie Dimon, has been invited to testify before the Senate Banking Committee reportedly. And JP Morgan’s 2 billion dollar trading loss, that could grow much larger, has prompted the New York Fed to examine how banks in its district are managing deposits. Hmmm…we wonder if Jamie Dimon gets any say in that since he is on the Federal Reserve’s board after all. On the hill today, officials from several financial regulatory agencies are testifying before the House Financial Services committee on the Settlement Practices of the US Financial Regulators. This is a good time to talk about … …
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