Writings by Joel R. Glucksman

Joel Glucksman is an experienced civil and bankruptcy litigator specializing in the representation of secured lenders and other creditors in complex suits and bankruptcies.

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Scarinci Hollenbeck remains committed not only to providing top-tier legal services but also to regularly providing information and resources to our client base and internet following. Client Alerts provided by our attorneys supply businesses, municipalities, and more with the latest and relevant legal updates that may impact them and how they might be able to proceed.

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New York Tops List of Cities with Optimal Business Health

Some municipalities are faring better than others in the health and vitality of their businesses and consumer spending. A telling sign for the overall business health of improving cities is often the viability of the local economy. Along these lines, a new report reveals which U.S. cities are on their way to full recovery and which […]

Author: Joel R. Glucksman

October 1, 2013

Bankruptcy Judge Approves ResCap Deal With FGIC

A bankruptcy judge has approved a $596.5 million deal between Financial Guaranty Insurance Co and bankrupt Residential Capital LLC, putting an end to billions of dollars of claims associated with mortgage-backed securities. The settlement also resolved another $1.3 billion in claims related to trusts insured by FGIC, the former bond insurance unit of FGIC Corp. […]

Author: Joel R. Glucksman

September 27, 2013

American Airlines Wins Court Approval to Exit Bankruptcy

A federal bankruptcy judge has approved American Airlines’ reorganization plan, as well as its merger with US Airways, the latter contingent upon the outcome of the U.S. Department of Justice’s antitrust lawsuit. U.S. Bankruptcy Judge Sean Lane said that American Airlines’ arguments were persuasive and that the broad support the plan had garnered from AMR Corp, […]

Author: Joel R. Glucksman

September 26, 2013

Moody's: Energy Future Holdings in Danger of Bankruptcy

Energy Future Holdings Corp. is facing a “high probability” of being forced to seek protection due to the danger of bankruptcy, according to a recent report from credit ratings agency Moody’s Investors Service. The ratings agency said that the energy giant will likely seek bankruptcy protection and establish a reorganization plan by the end of […]

Author: Joel R. Glucksman

September 24, 2013

Bankruptcy Protection

Gov. Snyder Puts Positive Spin on Detroit Bankruptcy to Chinese Investors

Local and state governments, as well as the federal government, are not the only ones closely watching Detroit’s municipal bankruptcy proceedings. It appears that Detroit, which recently filed the largest municipal bankruptcy in U.S. history, has also garnered the attention of global investors who are making determinations about future investments into the struggling city. China, […]

Author: Joel R. Glucksman

September 20, 2013

GateHouse Media Seeks Bankruptcy Protection

GateHouse Media, Inc., a company that owns more than 400 community newspapers and websites, announced its plans to seek bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code. The publisher maintains operations in 20 U.S. states and brought in annual revenue of $489 million in 2012. However, declining sales and large printing expenditures since the […]

Author: Joel R. Glucksman

September 19, 2013

San Bernardino Commits to Mediation 'Outline'

One week after a U.S. Bankruptcy Judge ruled that the city of San Bernardino is eligible to seek protection under the provisions of Chapter 9 municipal bankruptcy, city officials committed to preparing an “outline” by October 15 when they enter into discussions with creditors and a mediator. The city will be required to enter into […]

Author: Joel R. Glucksman

September 17, 2013

Judge Speeds Up Detroit's Eligibility Hearing

Legal commentators have noted that they expect the Detroit Chapter 9 bankruptcy case to be a tedious and time-consuming process. This projection has been supported by the large number of creditors filing objections seeking to prove that the city is not eligible to seek out bankruptcy protection. However, the bankruptcy judge who is overseeing the […]

Author: Joel R. Glucksman

September 10, 2013

DIA Urges Detroit to Stay Away from Art Collection

Several creditors and pension groups have teamed up to challenge the constitutionality of the Detroit bankruptcy filing. Although the Detroit Institute of Art has opted out of the objections, it released a statement discouraging the city from including its multimillion-dollar art collection in the bankruptcy proceedings. Prior to its petition for protection under Chapter 9 […]

Author: Joel R. Glucksman

September 6, 2013

Kodak Receives Final Approval to Make Bankruptcy Emergence

Photography pioneer Eastman Kodak Co. has experienced a rough 19 months after seeking Chapter 11 bankruptcy protection of the U.S. Bankruptcy Code. However, it appears that the company is well on its way to emerging from bankruptcy protection and entering the commercial and packaging printing market, as a bankruptcy court recently approved its reorganization plan. U.S. […]

Author: Joel R. Glucksman

September 5, 2013

Trustee in Maine Railroad Company Case Deals with Complex Issues

A bankruptcy trustee has been appointed by the Office of the U.S. Trustee to manage the debtor Montreal, Maine, and Atlantic Railway in its bankruptcy case, as the railroad company becomes embroiled in a number of legal issues. The company filed for Chapter 11 bankruptcy protection, only a month after a runaway train owned by […]

Author: Joel R. Glucksman

September 3, 2013

Bankruptcy Protection

Creditors File Objections to Detroit Bankruptcy

More than 100 objections have been filed by creditors, opposing the eligibility of Detroit to file Chapter 9 municipal bankruptcy of U.S. bankruptcy law. This is a development that may add significant complexity to the question of whether the struggling city will be permitted to move forward with its bankruptcy reorganization proceedings. Creditors, unions, and retiree […]

Author: Joel R. Glucksman

August 30, 2013

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