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This information is presented by the attorneys of Baxter & Baxter, LLP, a Pacific Northwest law firm with offices in Vancouver, Washington, and Portland, Oregon. To visit our firm’s main website, visit www.baxterlaw.com.

The Vancouver, Washington bankruptcy attorneys in the Bankruptcy Practice Group represent Vancouver and other SW Washington consumers in Chapter 7 and Chapter 13 bankruptcies. To speak with a Vancouver Washington Bankruptcy attorney, call (360) 574-5239

The Portland, Oregon bankruptcy attorneys of Baxter & Baxter, LLP have offices in SW Portland, and represent consumers in Beaverton, Tigard, Hillsboro, Aloha, Tualatin, and other cities. If you would like a free telephone consultation with an Oregon bankruptcy lawyer, call (503) 297-9031 today!

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Baxter & Baxter, LLP
1101 Broadway Street, Suite 213
Vancouver, WA 98660
(360) 574-5239

Colonial Bancgroup Defeats FDIC Attempt to Assert $905 Million Priority Claim

In a ruling that could have a significant impact on proceedings involving failed banks, the Federal Deposit Insurance Corp. has been rebuffed in its attempt to assert a $905 million priority claim against the holding company of the failed Colonial Bank. A federal bankruptcy judge in Alabama has ruled that the bank’s bankrupt holding company, Colonial Bancgroup, could not be held liable for the shortfall in the bank’s assets.

Read more here:
Colonial Bancgroup Defeats FDIC Attempt to Assert $905 Million Priority Claim

Call or visit our website to speak to a bankruptcy attorney or learn more about filing for bankruptcy.

Baxter & Baxter, LLP
8835 SW Canyon Lane, Suite 130
Portland, Oregon 97225
(503) 297-9031
Portland Oregon Bankruptcy

Baxter & Baxter, LLP
1101 Broadway Street, Suite 213
Vancouver, Washington 98660
(360) 574-5239
Vancouver WA Bankruptcy

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FDIC’s New Power to Dissolve Companies Raises Concerns

The Federal Deposit Insurance Corp.’s new power to take over and liquidate nonbank companies whose failure would jeopardize the financial system is intended as a “third way” between bankruptcy and bailout. But the prospect of a new regime for dissolving megacompanies — one with almost no judicial oversight and in which creditors’ rights are few — is sending shockwaves through the bankruptcy bar. The FDIC is tackling nearly 40 major rulemakings to flesh out the details of the law, and Wall Street is waiting anxiously.

Read the original:
FDIC’s New Power to Dissolve Companies Raises Concerns

Call or visit our website to speak to a bankruptcy attorney or learn more about filing for bankruptcy.

Baxter & Baxter, LLP
8835 SW Canyon Lane, Suite 130
Portland, Oregon 97225
(503) 297-9031
Portland Oregon Bankruptcy

Baxter & Baxter, LLP
1101 Broadway Street, Suite 213
Vancouver, Washington 98660
(360) 574-5239
Vancouver WA Bankruptcy

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Correction: Alaska Senate

In a story Sept. 2 about the Alaska Senate, The Associated Press erroneously attributed a quote to University of Alaska Anchorage political science professor Carl Shepro. The following was said by Alaska Republican U.S. Senate candidate Joe Miller on CNN’s “John King, USA:” “So this is not a Joe Miller comes to D.C. and Social Security is gone, Medicare is gone. But what Joe Miller does do, and what those that I think are joining in this message do is get this government back from the fiscal brink, back from bankruptcy so that we can ensure that the contracts that we’ve made with our seniors, that we can honor those.”

See the original post:
Correction: Alaska Senate

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$60 Million Suit Over Short-Lived Reality Show Gets Judge’s OK to Proceed

Remember the TV reality show “Making the Band,” which spawned the short-lived boy band O-Town? The show’s revenue is at the center of a $60 million suit pitting the bankruptcy estate of a film production company once run by Lou Pearlman — the infamous boy band manager now in prison for orchestrating a $300 million Ponzi scheme — against Viacom, MTV and the Sean “Diddy” Combs-controlled companies Bad Boy Films and Bad Boy Records. A Florida federal judge has ruled the suit can go forward.

Here is the original post:
$60 Million Suit Over Short-Lived Reality Show Gets Judge’s OK to Proceed

Call or visit our website to speak to a bankruptcy attorney or learn more about filing for bankruptcy.

Baxter & Baxter, LLP
8835 SW Canyon Lane, Suite 130
Portland, Oregon 97225
(503) 297-9031
Portland Oregon Bankruptcy

Baxter & Baxter, LLP
1101 Broadway Street, Suite 213
Vancouver, Washington 98660
(360) 574-5239
Vancouver WA Bankruptcy

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Judge appoints mediator in Tribune bankruptcy case

The mediator will try to forge a settlement of legal claims stemming from the media company’s 2007 leveraged buyout. The judge in Tribune Co.’s stalemated bankruptcy case appointed a mediator Wednesday to try to forge a settlement of legal claims stemming from media company’s disastrous 2007 leveraged buyout.

Go here to see the original:
Judge appoints mediator in Tribune bankruptcy case

Call or visit our website to speak to a bankruptcy attorney or learn more about filing for bankruptcy.

Baxter & Baxter, LLP
8835 SW Canyon Lane, Suite 130
Portland, Oregon 97225
(503) 297-9031
Portland Oregon Bankruptcy

Baxter & Baxter, LLP
1101 Broadway Street, Suite 213
Vancouver, Washington 98660
(360) 574-5239
Vancouver WA Bankruptcy

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Harrisburg Bankruptcy Is ‘Real Option,’ Council Says

Bankruptcy “has become a real option” for Pennsylvania’s capital of Harrisburg, City Council Vice President Patty Kim said.

See the original post here:
Harrisburg Bankruptcy Is ‘Real Option,’ Council Says

Call or visit our website to speak to a bankruptcy attorney or learn more about filing for bankruptcy.

Baxter & Baxter, LLP
8835 SW Canyon Lane, Suite 130
Portland, Oregon 97225
(503) 297-9031
Portland Oregon Bankruptcy

Baxter & Baxter, LLP
1101 Broadway Street, Suite 213
Vancouver, Washington 98660
(360) 574-5239
Vancouver WA Bankruptcy

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Ex-Lehman CEO blames government for firm’s collapse

Richard Fuld cites the decision ‘not to provide Lehman with the support given to each of its competitors.’ His testimony comes in the final set of Washington hearings by a federal panel investigating the financial crisis. The former chief executive of Lehman Bros., whose failure in 2008 helped trigger the financial crisis, blamed the government for its collapse, saying Wednesday there was a double standard in the decision by federal officials to grant extraordinary assistance to other companies but let his go bankrupt.

Original post:
Ex-Lehman CEO blames government for firm’s collapse

Call or visit our website to speak to a bankruptcy attorney or learn more about filing for bankruptcy.

Baxter & Baxter, LLP
8835 SW Canyon Lane, Suite 130
Portland, Oregon 97225
(503) 297-9031
Portland Oregon Bankruptcy

Baxter & Baxter, LLP
1101 Broadway Street, Suite 213
Vancouver, Washington 98660
(360) 574-5239
Vancouver WA Bankruptcy

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Villalobos bankruptcy judge is skeptical that state’s suit won’t get in the way

Judge John Peterson notes that California can’t get restitution from former CalPERS official Alfred Villalobos, whom it accuses of influence-peddling, without the Bankruptcy Court’s permission. A U.S. Bankruptcy Court judge was skeptical of the California attorney general’s efforts Tuesday to keep on track a civil fraud lawsuit against Alfred J.R. Villalobos, a key go-between in arranging investment deals for state public pension fund money.

See the article here:
Villalobos bankruptcy judge is skeptical that state’s suit won’t get in the way

Call or visit our website to speak to a bankruptcy attorney or learn more about filing for bankruptcy.

Baxter & Baxter, LLP
8835 SW Canyon Lane, Suite 130
Portland, Oregon 97225
(503) 297-9031
Portland Oregon Bankruptcy

Baxter & Baxter, LLP
1101 Broadway Street, Suite 213
Vancouver, Washington 98660
(360) 574-5239
Vancouver WA Bankruptcy

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Tribune Co. forms panel to oversee bankruptcy reorganization

The step aims to remove any conflicts of interest. The panel is composed of four board members who joined the company during or after its leveraged buyout in 2007. The board of directors of bankrupt Tribune Co. formed a special committee to oversee the media company’s contentious reorganization process and to manage any legal claims arising from its 2007 leveraged buyout.

See the article here:
Tribune Co. forms panel to oversee bankruptcy reorganization

Call or visit our website to speak to a bankruptcy attorney or learn more about filing for bankruptcy.

Baxter & Baxter, LLP
8835 SW Canyon Lane, Suite 130
Portland, Oregon 97225
(503) 297-9031
Portland Oregon Bankruptcy

Baxter & Baxter, LLP
1101 Broadway Street, Suite 213
Vancouver, Washington 98660
(360) 574-5239
Vancouver WA Bankruptcy

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Miami Athletes’ Charities to Return Rothstein Money

Charities run by Miami Heat star Dwayne Wade and former Miami Dolphins star Jason Taylor agreed to return donations from Ponzi king Scott Rothstein, his defunct law firm’s bankruptcy trustee, Herbert Stettin, reported Tuesday. Both charities will return half of the donations under a settlement with Stettin. Wade’s World Foundation agreed to return $12,500 of $25,000 received from Rothstein Rosenfeldt Adler in July 2009. The Jason Taylor Foundation agreed to return $50,000 of a $100,000 donation received March 2009.

See more here:
Miami Athletes’ Charities to Return Rothstein Money

Call or visit our website to speak to a bankruptcy attorney or learn more about filing for bankruptcy.

Baxter & Baxter, LLP
8835 SW Canyon Lane, Suite 130
Portland, Oregon 97225
(503) 297-9031
Portland Oregon Bankruptcy

Baxter & Baxter, LLP
1101 Broadway Street, Suite 213
Vancouver, Washington 98660
(360) 574-5239
Vancouver WA Bankruptcy

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