AIG
Count me amongst the people that were shocked by the AIG bonuses that came to light earlier this week. Having practiced in corporate bankruptcy for the past several years, it never …
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Blog
Pennsylvania Wage Attachment Law
Posted on by Bob Bernstein
The logic behind Pennsylvania’s arcane wage attachment law escapes me. I cannot figure out why the Commonwealth wants to protect debtors at the expense of legitimate creditors. What are …
Business Climate Resigned or Resolved?
Posted on by Bob Bernstein
Seems like the economic news is still bad every day, but most people appear resigned or resolved. Many people believe the worst is not here yet, but we are close. How …
Bankruptcy COULD Help the Big Three
Posted on by Bob Bernstein
(Submitted to the Post-Gazette in response to a recent article) First the disclaimer: I am a bankruptcy and creditors’ rights lawyer. I generally represent vendors, lenders and creditors. I have …
What Does Detroit Need to Do Now?
Posted on by Bob Bernstein
I’m pretty confused about what Washington is doing/has done with the $700 billion and how that relates to the automakers. Let call them the OEMs (original equipment manufacturers). The OEMs …
News from the CLLA Fall Meeting November 2008
Posted on by Bob Bernstein
The New York CLLA meeting is always busy. This year, there was a buzz of excitement relating to a few areas. First, everyone was taking about how the economy affects …
So we’re In a Recession. Really?
Posted on by Bob Bernstein
I loved all the discussion this week about whether we were in a recession. Any of us in the credit, collections and bankruptcy world know we’ve been in a recession …
Getting P.A.I.D. is Critically Important
Posted on by Bob Bernstein
Okay, it’s a shameless plug for the book (Get P.A.I.D. a Guide to Getting Paid Faster) and the system, but it is also a reminder of how important it is …
Credit Easing?
Posted on by Bob Bernstein
I suppose the lowering of LIBOR is an indication to some that credit is easing, at least on Fleet Street! Most of the “main street” businesses probably don’t feel that …
DIP Loans Harder to Find?
Posted on by Bob Bernstein
When a company files a Chapter 11 case (or even before-when there is time), a big issue is how to fund operations post-filing. The Debtor-in-Possession (DIP) needs to make arrangements …