Bankruptcy & Debt Law

Bankruptcy is the legal status of a person or an entity that is unable to repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor. In the United States, bankruptcy refers to the form insolvency proceedings for both individuals and organizations that take place in Federal Bankruptcy Court. Most filings in Bankruptcy Court are made under Chapter 7, Chapter 11 and Chapter 13 of the Bankruptcy Code. Debtor and Creditor law includes regulations concerning foreclosures, repossession, credit cards, credit reporting and debt collection

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Michael Wechsler
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Gawker Media filed for bankruptcy protection today in New York federal court shortly after the company attorney informed a Florida judge that it was unable to pay a $140 million judgement to renowned wrestler, Hulk Hogan. The staggering award was the result of a jury verdict against Gawker who...
Michael Wechsler
Updated
3 min read
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8,130
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A former Dewey & LeBoeuf partner revealed the details of a tense meeting of the firm's rainmakers in early 2012, just a few months before it declared Chapter 11 bankruptcy. Ralph Ferrara, who also served as general counsel for the U.S. Securities and Exchange Commission (now at Proskauer Rose...
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