7th Circuit affirms rulings in telecom company bankruptcy

A now-bankrupt telecommunications provider cannot avoid making payments invoiced by its supplier prior to the filing of an involuntary bankruptcy petition because the supplier has a legitimate defense under the “new value” concept in U.S. Bankruptcy Code, the 7th Circuit Court of Appeals has ruled.

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Huntington attorney suspended for work with Florida company

A northern Indiana attorney who was involved in a Florida-based legal scheme that purported to assist clients in foreclosure and bankruptcy matters has been suspended from the practice of law for 30 days, the second of five Indiana attorneys involved with the Florida group to be disciplined by the Indiana Supreme Court.

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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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