bankruptcy protection

Court Gives Hope to Homeowners Lied to by Banks

A California appeals court has ruled that U.S. Bank conned Claudia Aceves out of her home by tricking her into giving up her bankruptcy protections. Now she can sue the bank for damages and fraud, and conceivably, so could other homeowners in similar situations.

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.