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MONTEBELLO - City officials are talking to bankruptcy attorneys in preparation for the worst, according to a memo Interim City Administrator Peter Cosentini sent to the City Council. If the City cannot get a loan by September, we will be technically and practically bankrupt," Cosentini wrote in a weekly report obtained by this newspaper. "If our estimates are accurate and if we can't get a loan, we will run out of cash and we will not be able to call our people to work nor pay our vendors...and the functions of local government will shut down.
Bankruptcy attorneys face a host of ethical issues even before their clients file a petition for bankruptcy. The goal is to preserve a nest egg or protect assets that might survive the bankruptcy process, but pre-petition planning requires a careful balance, said J. Scott Bovitz, a bankruptcy attorney at Bovitz & Spitzer in Los Angeles.
News that foreclosures declined slightly in November has not fooled anyone: Busy Rochester bankruptcy attorneys and national observers alike see the recent dip as a brief respite from a trend they expect to mushroom in 2009. Some attorneys argue that modifying the federal bankruptcy code could offer relief to people trying to keep their homes, at little cost to taxpayers.
WASHINGTON, April 13 /PRNewswire-USNewswire/ -- The National Association of Consumer Bankruptcy Attorneys (NACBA) released today the names of the seven 2010 recipients of its "Champion of Consumer Rights" award, including four members of Congress. The Champion of Consumer Rights award was established in 1993 and is given annually to recognize and honor those individuals who have distinguished themselves through leadership, scholarship, or legal advocacy by giving voice to American families facing financial crisis. With more than 4,700 members, NACBA (http://www.nacba.org) is the only national organization dedicated to serving the needs of consumer bankruptcy attorneys and protecting the rights of consumer debtors in bankruptcy. The Champion of Consumer Rights award was established by NA...
The Gallop, Johnson & Neuman law firm in St. Louis says it has hired two bankruptcy lawyers. The firms said the new additions are David Lander, formerly with Thompson Coburn in St. Louis, and Eric Peterson, who previously practiced outside Missouri at Hinshaw & Culbertson.
Consumer bankruptcy attorneys are voicing their opposition to two main provisions of the 2005 bankruptcy reform law that continue to affect their practices. Their concerns stem mainly from the following provisions, both of which are currently the subject of pending litigation:
More Oklahomans are filing bankruptcy this year than in 2006, when filings plummeted after enactment of tough regulations in October 2005 that made it more difficult to write off debts. In 2005, Oklahomans filed almost 40,000 bankruptcy cases.
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