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    Category: History

    • A Short History Of Bankruptcy

      A Short History Of Bankruptcy

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      The etymology of the term “bankruptcy” is commonly believed to derive from a combination of two Latin words: “bancus” (table or bench) and “ruptus” (broken). The theory suggests that a public banker, upon failing to meet financial obligations, would have his bench—where transactions took place—broken as a symbol of his inability to negotiate and fiscal…

    • Do I Need To File For Bankruptcy?

      Do I Need To File For Bankruptcy?

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      It has been said that for most people “…bankruptcy is a scary proposition…”. Depending upon the type of bankruptcy case, a person’s asset vs. debt ratio, and myriad other factors, it could be added, “…and rightfully so”. Even the word “bankruptcy” has an ominous ring to it – and – the concept of “going bankrupt”…

    • Pinellas County In West Central Florida

      Pinellas County In West Central Florida

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      Florida and Pinellas County The first permanent white settlement on the Pinellas Peninsula was established in 1832 by Odet Philippe in the present-day Safety Harbor area of Pinellas County. The settlement history of the county, however, dates back much farther, to about 200 A.D., when the Weeden Island culture took hold along the central Gulf…

    • Clearwater, Florida – More Than Just Beaches

      Clearwater, Florida – More Than Just Beaches

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      Clearwater, Florida, situated on the Gulf of Mexico in West Central Florida, is the County seat of Pinellas County. The region surrounding Clearwater and Pinellas County is known as the Tampa Bay Area. Clearwater is the third largest City in the region; the cities of Tampa and St. Petersburg are the two largest. Prior to…

    • THE “MEANS TEST” IN BANKRUPTCY (Chapter 7) – Part III

      THE “MEANS TEST” IN BANKRUPTCY (Chapter 7) – Part III

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      Part III of Three Related Articles [See related articles on this blog: The Bankruptcy Abuse Prevention & Consumer Protection Act (BAPCPA), “Part I, Rationales”&“Part II, Changes in Bankruptcy Law”] After passage of the BAPCPA in 2005, anyone wanting to file for Chapter 7 bankruptcy relief was faced with the new requirement of having to pass…

    • BANKRUPTCY ABUSE PREVENTION & CONSUMER PROTECTION ACT OF 2005 (BAPCPA) Part II

      BANKRUPTCY ABUSE PREVENTION & CONSUMER PROTECTION ACT OF 2005 (BAPCPA) Part II

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      Part II – Changes in Bankruptcy Law [See related articles on this blog: The Bankruptcy Abuse Prevention & Consumer Protection Act (BAPCPA), “Part I, Rationales” &Part III The “Means Test in Bankruptcy”] The enactment of the Bankruptcy Abuse Prevention & Consumer Protection Act (BAPCPA) in April, 2005, wrought significant changes in the law embodied in…

    • THE BANKRUPTCY ABUSE PREVENTION & CONSUMER PROTECTION ACT OF 2005 (BAPCPA) Part I

      THE BANKRUPTCY ABUSE PREVENTION & CONSUMER PROTECTION ACT OF 2005 (BAPCPA) Part I

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      Part I–Rationales [See related articles on this blog: “The Bankruptcy Abuse Prevention & Consumer Protection Act (BAPCPA), ‘Part II, Changes in Bankruptcy Law’, and “Part III, The Means Test in Bankruptcy”] The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) was a “bankruptcy reform” measure passed by Congress during the fifth year of the Bush…

    • What is Chapter 12 bankruptcy?

      What is Chapter 12 bankruptcy?

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      Chapter 12 bankruptcy is a type of bankruptcy specifically fashioned to either family farmers or fishermen seeking to reorganize or consolidate their debts through bankruptcy proceedings. The most commonly filed Chapters of bankruptcy are Chapter 7 bankruptcy and Chapter 13 bankruptcy. Chapter 12 bankruptcy is probably one of the least commonly filed forms of bankruptcy.…

    • The Millennial Generation: “Selfish Slackers” or Next Modernist Generation?

      The Millennial Generation: “Selfish Slackers” or Next Modernist Generation?

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        Who are the “Millennials”? According to a recent study by the Pew Research Center, “Anyone born between 1981 and 2000 (ages 18 – 37 in 2018) is considered to be a Millennial… anyone born from 2001 onward will be part of a new generation”. As stated on its website, the Pew Research Center is…

    • Leveraged Buyouts… Bain Capital… And The “Art” Of Bankrupting Companies

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      lev·er·aged buy·out ˌlev(ə)rijd ˈbīˌout/ – noun Plural noun: leveraged buyouts The purchase of a controlling share of a company by its management, using outside capital A leveraged buyout (“LBO”) is the acquisition of one company (or division of a “target” company) by another outside company using a significant amount of borrowed money to finance the…

    • Gibson Brands, Inc. DBA Gibson Guitars Files For Chapter 11 Bankruptcy Protection

      Gibson Brands, Inc. DBA Gibson Guitars Files For Chapter 11 Bankruptcy Protection

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      *** UPDATE TO PREVIOUS ARTICLE *** Ending months of speculation concerning the future of the once iconic guitar manufacturing company, Gibson Brands, Inc., the parent of Gibson Guitars, filed for Chapter 11 Bankruptcy protection earlier this week. The Nashville, TN-based company is said to have in excess of $100 million in outstanding debt (some reports…

    • Connecticut – a Legacy of Debt and the Possibility of Chapter 9 Bankruptcy

      Connecticut – a Legacy of Debt and the Possibility of Chapter 9 Bankruptcy

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      The State of Connecticut ended the 2017 fiscal year on a note of financial doom. As of the end of December, 2017, the state had the most underfunded pension system in the nation with over $127 billion in government-worker pension liabilities and no viable plan to institute needed reforms. Public-Worker Pensions – The BIG Problem:…