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Chapter 7

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ARTICLES

ITT trustee hires ‘feared’ litigators

The Chapter 7 bankruptcy trustee for ITT Educational Services has hired “the most feared” litigators in the nation to help with investigating and prosecuting claims against the former directors and officers of the for-profit school.
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ITT Chapter 7 bankruptcy fallout

The student records are only one aspect of this bankruptcy. There are employee records, pension benefits, 401(k) retirement funds plus lawsuits previously filed by federal agencies and some states’ attorneys general.
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Attorneys, courts feel drop in bankruptcy filings

Bankruptcy attorney Mark S. Zuckerberg recently described the current state of his practice: “Nobody’s coming into my office; nobody’s calling me; nobody’s paying me.” His loneliness can be tied to the drop in bankruptcy filings. In 2015, petitions nationally fell to 860,182, an 11 percent decline from 2014 and the lowest number of filings since 2007.
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