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What’s New in Bankruptcy?

Employees Entitled to Bankruptcy Heads Up & Job Security

Employees in California are newly entitled to a 15-day heads up of a utility’s bankruptcy filing, as well as job security for at least 6 months after the filing.  PG&E Corp. was prompted to disclose its intent to file for chapter 11 by a new California law that includes this novel provision requiring a 15 day warning to employees…

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New Student Loan Consumer Group is Taking Initiative

A new student loan consumer watchdog group is taking initiative to help and protect student borrowers in the absence of government action.  This non-profit consumer group is led by people who quit the Trump administration Consumer Financial Protection Bureau and hope to serve as a check on the student loan industry.  Known as the Student Borrower Protection…

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ITT Tech Student Loans Settle in Bankruptcy versus other Government Loans

ITT Tech student loans settle in bankruptcy and will be paid out assuming that ITT’s bankruptcy estate has sufficient funds. The settlement that will erase nearly $600 million that 750,000 students owed ITT Technical Institute. The agreement will also refund $3 million that students paid the for-profit chain. The students asserted a $1.5 billion claim…

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Bitcoin Mining Pioneer GigaWatt Seeks Bankruptcy Protection

Bitcoin mining pioneer, GigaWatt, seeks Chapter 11 bankruptcy protection in Spokane, Washington.  The filing is the latest twist in an entrepreneurial saga stretching back to the early days of bitcoin and may be connected to efforts by three of the company’s majority shareholders to sell GigaWatt.  One of its co-founders, David Carlson, a former Microsoft…

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Update: Attention Brides! David’s Bridal has filed for Chapter 11 Bankruptcy

A Chapter 11 bankruptcy case has been filed in Delaware by Conshohocken PA based wedding gown retailer David’s Bridal Inc.  A Chapter 11 plan was filed with its Chapter 11 petition, so that this “pre-packaged bankruptcy case” should go through a speedier approval process than a regular bankruptcy case, as all major creditors have already agreed…

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Trending… Private Loans automatically dischargeable in Bankruptcy!

A Denver Bankruptcy Judge, following what she called the “trending narrow view” ruled that an educational loan from a private lender is discharged automatically in bankruptcy, because it does not fit within the governmental educational provision that renders those “benefits” non-dischargeable.  For help with discharging your private loans in bankruptcy, please contact us for a…

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