bankruptcy court

Sharper Image Wants to Repay Gift Card Holders

Like a spirit from beyond the grave, bankrupt Sharper Image Corp. is back and searching for its former gift card holders. But this is a benevolent ghost: Its mission is to start the process of finding and reimbursing them.

Don't Ask, Just Cram: Let Judges Modify Mortgages Again

Regulators want the nation's big banks to reduce what borrowers owe on underwater mortgages, but they're still focused on solutions that rely on banks to voluntarily do the right thing. But we've already seen that won't work, and history shows what will -- giving bankruptcy judges back the right to cram down mortgages.

Another Victim of the Great Recession: Child Support Payments

These payments fell in 2009 for first time in the U.S. in more than three decades, and while the official government report for fiscal 2010 won't be out for months, it's likely that it, too, saw that downward trend continue. Stubbornly high unemployment is the primary culprit.

Bankruptcies: Could 2011 Be Even Better Than 2010?

In another bit of good economic news, the list of U.S. business bankruptcies will likely get shorter, and probably less distinguished, in 2011, just as it did this year. Still, several factors beyond an improving economy are also at play here.

Judge Rejects Wells Fargo Foreclosure Documents Again

U.S. Bankruptcy Court Judge Martin Glenn denied Wells Fargo's request for permission to foreclose on Tandala Mims's house in the Bronx for a second time on Thursday because he still wasn't satisfied that Wells -- as opposed to some other bank -- had the right to do so.

Discount Retailer Loehmann's Files for Bankruptcy Protection

Loehmann%u2019s Holdings Inc., filed for bankruptcy after failing to exchange $110 million of bonds, Bloomberg News reported. "The decline in economic conditions in several markets in which Loehmann%u2019s stores are concentrated, mainly California, the Northeast, Midwest and Florida, has had an adverse effect on Loehmann%u2019s financial condition," CFO Joseph Melvin said in a filing with the U.S. Bankruptcy Court in Manhattan.

Where the Foreclosure Mess Is Even More Perilous

In California, Texas and 25 other states, the robo-signing scandal and foreclosure debacle are even more dangerous because the lender doesn't have to go to court to foreclose. Except in rare instances, lenders can use fraudulent paperwork with impunity in those states.