Financial Spring Cleaning

After the busy winter holidays it is time for everyone to take a close look at any debt. Credit card bills from gift buying, travel expenses, mortgage, and car payments are screaming to get paid. Unforeseen circumstances such as a layoff, car accident, or cancer have added to the list of creditors. Bankruptcy is not […]

Three Years after Madoff’s Arrest

Three years after Bernard Madoff’s arrest, about $11 billion of the $18 billion in estimated losses has been recovered by Irving Pickard, the Madoff trustee. In 2011, Picard faced legal challenges. First he obtained a court approval of a $7.2 billion settlement by the estate of Jeffry Picower. Picower was a Wall Street investor who […]

Cellfor Insolvency

Cellfor, a privately held company headquartered in Vancouver, Canada that supplies conifer varietal seedlings to the forest industry, got a court order granting it protection under the Companies’ Creditors Arrangement Act. An order from Justice Harris of the Supreme Court of British Columbia grants a stay of proceedings against all actions and creditors until January […]

Madoff Bankruptcy Update

Irving Picard, the trustee of the Bernard Madoff bankruptcy estate, file a lawsuit against JP Morgan Chase & Co. The lawsuit against JPMorgan Chase & Co. entitled Picard vs. JPMorgan Chase & Co., 11-cv-913, in the U.S. District Court, Southern District of New York, was dismissed on November 1, 2011. According to “JPMorgan Wins Dismissal […]