Last week, a U.S. bankruptcy court judge ordered Bank of America Corp to pay around $90 million in interest to Lehman Brothers Holdings Inc in addition to the $501.8 million in deposits that the bank has already been ordered to return.

The ruling comes a scant three weeks after the ruling against Bank of America wherein Judge James Peck found the bank had violated federal law in “brazenly” seizing $500 million of Lehman’s deposits in the summer of 2008.

A spokeswoman for the bank told reporters that they were disappointed with the decision and were considering seeking an appeal.

The court decision is a victory for Lehman as it attempts to repay the hundreds of billions of dollars owed to creditors following its Sept. 15, 2008 bankruptcy.

If you are facing bankruptcy, contact the New Orleans bankruptcy lawyers of the Law Office of David D. Kervin, Jr., LLC by calling 504-599-5906 to discuss your legal situation.

Constellation Energy Group was given permission to purchase five Boston Generating LLC power plants for $1.1 billion this week by a U.S. bankruptcy court.

Boston Generating, a unit of the US Power Generating Co, originally arranged the sale to Constellation Energy as part of their bankruptcy plan, but were waiting for the court’s approval to go ahead with it.

The five Boston-area plants together provide a combined 2,950 megawatts, making them the third-largest power generating unit in New England.

Boston Generating was forced to file for bankruptcy protection in August after being unable to generate sufficient cash to service its debt and fund operations.

If you are facing bankruptcy, contact the New Orleans bankruptcy lawyers of the Law Office of David D. Kervin, Jr., LLC by calling 504-599-5906 to discuss your legal situation.

Catherine Curan from The New York Post reports, “Underwater homeowners are jumping onto an unexpected financial life raft that lets them escape crippling second mortgage debts and keep their homes — Chapter 13 bankruptcy.”

Curan writes that, if the home worth is estimated at less than the first mortgage, then the owner can go to bankruptcy court and ask to reclassify their debt from the second mortgage. It would then transform from a secured debt to an unsecured debt. A secured debt has to be paid whereas an unsecured debt does not have to be paid in full.

This economy provides the perfect breeding ground for these situations. Curan consulted with a New York City bankruptcy attorney who said that about 20 percent of his Chapter 13 bankruptcy clients, that are homeowners, qualified for this circumstance.

This offers a new alternative to borrowers who are unable to reach a loan modification agreement with their bank.

If you need help with a Chapter 13 Bankruptcy, contact an experienced and trustworthy New Orleans Chapter 13 bankruptcy lawyer at Kervin and Young, LLC, by dialing 504-599-5906.

The first new public park to be made in New Orleans in the last 20 years is underway after a film production company went bankrupt, leaving the Trust for Public Land to bid for it.  The park-building project is expected to cost approximately $3.8 million and it will be 18 acres large.  The park is being built along the Lafitte Corridor in the Mid-City neighborhood of New Orleans.  A community development block grant is funding the build.

The Louisiana Institute of Film Technology went bankrupt after the man who headed the organization was sentenced to five years in prison starting in April.   He was sentenced for allegedly being involved in a scheme to bribe the former Louisiana film commissioner in exchange for movie tax credits. The property was purchased by the Trust for Public land after bankruptcy proceedings concluded.

If you are considering filing your company for bankruptcy, trust the competent and professional New Orleans bankruptcy attorneys of the Law Offices of the Law Office of David D. Kervin, Jr., L.L.C.  Contact them by calling 504-599-5906 today.

General contractor Brian M. Marshall, who has founded companies such as Fireline Restoration Inc., its successor Initech Restoration Inc., Marshall Aviation LLC, Marshall Investments LLC, and several others, has requested that his latest bankruptcies be dismissed or converted to liquidation under Chapter 7 following a $691,000 loss in equity by Initech.

Marshall has been trying to pay off debts since November of last year, when the Securities and Exchange Commission’s reported that Marshall had created a “fantasy land of fraud” to increase share prices for his various companies. Branch Banking & Trust Co., one of his many lenders, has filed lawsuits to seize real estate and property of Marshall’s amounting to the $21 million he owes in loans. Court records show that BB&T has seized a 45-foot SeaRay and is looking to repossess several of his houses and a Porsche, Ferrari, Bentley, and Land Rover. Marshall’s Gulfstream jet was repossessed by another lender last year.

If you need legal advice regarding filing for Chapter 13 or Chapter 7 bankruptcy, and want to know how to prevent repossession of your property,  contact the New Orleans bankruptcy attorneys of the Law Office of David D. Kervin, Jr., LLC, at 504-599-5906.

When individuals file for bankruptcy, they often are unsure how long they will have to repay their debts. In some cases, their debts will be discharged, and they will not be forced to repay these debts.

For debts that individuals are required to pay, they typically have between 36 and 60 months to repay their debts. The length of time for debt repayment usually depends on the type of bankruptcy filing.

If you or anyone has considered filing for bankruptcy, contact the New Orleans bankruptcy attorneys of the Law Office of David D. Kervin, Jr., at 504-599-5906.

The owner of New Orleans-area shopping malls Oakwood Mall and Rivercenter Mall is working to exit it’s Chapter 11 bankruptcy and is considering buyout offers within the next four months. Because the malls are not under-performing, they may be an attractive investment for an investor that can afford to purchase them and successfully manage them.

Bankruptcy proceedings can be a difficult process if you do not have experienced representation on your side. For help with a Chapter 7, Chapter 11, or Chapter 13 bankruptcy filing, contact the New Orleans bankruptcy lawyers of Kervin Young at 504-599-5906 today.

When individuals file for bankruptcy, they often receive immediate relief from certain types of hardships. These hardships can include excessive debts and harassing phone calls from creditors.

The bankruptcy filing will also stop car dealerships from repossessing their vehicle and stopping banks from foreclosing on their homes. In many cases, a filing will put a halt on any wage garnishments.

If you have questions about filing for bankruptcy, contact the New Orleans bankruptcy attorneys of New Orleans bankruptcy attorneys of the Law Office of David D. Kervin, Jr., LLC, at 504-599-5906.

When individuals file for bankruptcy, they are sometimes worried about the fees associated with bankruptcy. In most cases, filers will only need to pay the initial filing fee.

After this fee is paid, a filer’s expenses are typically confined to lawyer fees. However, if the filer chooses to convert a Chapter 13 to a Chapter 7 bankruptcy.

If you are considering filing for bankruptcy, contact the New Orleans bankruptcy lawyers of Kervin and Young, LLC, at 504-599-5906.