The U.S. Bankruptcy Code gives debtors access to powerful rights and remedies that are not available under non-bankruptcy law. As a balance to these extraordinary powers however, a debtor may lose some or all control over its own affairs under certain circumstances. One of the rights that the debtor “puts into play” when it files bankruptcy is the attorney-client privilege (the Privilege).

Everyone makes mistakes … even lawyers! Most of the time we don't even know it because the error is either minor or doesn't affect the outcome. In this article, we discuss a small error by an attorney that could cost his client $1.5 billion. That's billion with a "B".

A "Saab" Story with a Happy Ending: An Inside Look at the Saab Bankruptcy Case

Creditors often assume the worst when they hear that a company that owes them money filed "bankruptcy." They fear that their debt will be completely wiped out or that they will only collect pennies on the dollar. And while that is usually the result, a chapter 11 bankruptcy filing can often lead to creditors being paid a substantial portion of their debt.