ABA Challenges Ban on Attorney Debt Advice
The American Bar Association has joined in on the upcoming U.S. Supreme Court showdown over whether attorneys can be considered “debt relief agencies” under consumer bankruptcy law, arguing that such a construction would erode lawyers' First Amendment rights and attorney-client privilege… Read More

Judge Rejects Union Deal with Bankrupt California Town
Bankruptcy Judge Michael McManus on Tuesday ruled in favor of a motion to reject a collective bargaining agreement between the International Brotherhood of Electrical Workers union and the city of Vallejo, Calif… Read More

Report Details the SEC’s Missteps in Recognizing Madoff’s Ponzi Scheme
Unseasoned investigators from the Securities and Exchange Commission were alternately intimidated and enthralled by Bernard L. Madoff as he dodged questions about his financial house of cards, according to a new report on the agency’s repeated failure to uncover the huge investment fraud… Read More

US Airways Pilots Union Sues PBGC
The pilots union for US Airways filed suit yesterday against the Pension Benefit Guaranty Corp., claiming it is not doing enough to investigate charges that the airline's pension plan was mismanaged… Read More

Samsonite Stores File for Chapter 11
Samsonite Co. Stores, the U.S. retail division of luggage-maker Samsonite Corp., has sought chapter 11 protection from creditors citing a decline in demand for travel gear… Read More