As required by the terms of the emergency assistance provided by Treasury last December, General Motors Corp.
Much is being written about the significant losses suffered by automobile suppliers to both the domestic and transplant automobile manufacturers. These losses are creating alarm among many others, including the OEMs themselves, according to Dave Hannon at Purchasing Magazine.
While uncertainties loom around the auto industry, suppliers and OEMs can try to prepare for the road the lies ahead.
General Motors and Affiliates File for Chapter 11 Bankruptcy Protection
No doubt by now, every creditor knows of the new protections given to employees in the face of a company’s insolvency as a result of the enactment of the Wage Earner Protection Program Act (“WEPPA”) and related amendments to the Bankruptcy and Insolvency Act (“BIA”) on July 7, 2008.
Property in oroville and susanville, california : in re gumba investors, llc (bankr. e.d. cal.) case no. 09-40571
In a decision to be hailed by buyers of distressed debt and bankruptcy claims on the secondary loan market, on Oct. 15, 2009, the New York Court of Appeals (the “Court”), in a fact-specific ruling, held that an assignment of claim does not violate New York’s champerty statute (forbidding trading in litigation claims) if the purpose of the assignment is to collect damages by means of a lawsuit for losses on a debt instrument in which the assignee holds a pre-existing proprietary interest. Trust for the Certificate Holders of the Merrill Lynch Mortgage Investors, Inc.
Retail Seminar Business In re Telligenix Corporation (Bankr. M.D. Fla.) Case no. 09-15238
Residential Lots in Mississippi In re South Marsh Developers, LLC(Bankr. N.D. Fla.) Case no. 09-32148
Lilburn Marketplace, LLC recently filed for Chapter 11 bankruptcy, and, although no sale has been announced, the Debtor’s assets may be available for acquisition under the right circumstances. The Debtor is engaged in the business of operating a commercial shopping center and currently has unexpired leases with nine tenants. The Debtor’s real property is a commercial shopping center located at 4805 Lawrenceville Highway in Lawrenceville, Georgia, valued at $12,864,695. The Debtor’s personal property includes accounts receivable of approximately $220,000.