Million Dollar Baby: Canadian Couple Considers Bankruptcy After Baby’s Birth in U.S. Hospital

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chapter 7 bankruptcy attorneyAfter their baby’s premature birth in a Hawaii hospital resulted in a hospital bill almost totaling $1 million, one Saskatchewan couple is considering filing for bankruptcy. According to a November 19 CTV News article, Darren Kimmel and Jennifer Huculak went to Hawaii for a vacation in October 13, when Huculak was six months pregnant but cleared to travel. The couple had even bought Blue Cross insurance for the trip.

Woman Brought Back to Life After Cardiac Arrest Faces Bankruptcy Despite Being Fully Insured

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local bankruptcy attorneyIt’s no secret that the cost of healthcare is unaffordable for many Americans. In 2013 alone, about two million people filed for Chapter 13 or Chapter 7 bankruptcy help because their unpaid medical bills were too much to handle. But even being covered by health insurance isn’t always enough to prevent a medical bankruptcy, as one Wisconsin woman’s current situation proves.

In Court, GM Refuses to Assume $2 Billion Liability for Pre-Bankruptcy Car Malfunctions

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chapter 11 bankruptcy attorneyIn a Nov. 5 bankruptcy court filing, General Motors (GM) and its Chapter 11 bankruptcy attorneys stated that the company shouldn’t be held responsible for liabilities associated with faulty cars manufactured before the automaker filed for Chapter 11 bankruptcy help and reorganization in 2009. According to Reuters, GM is facing litigation from millions of people who bought the 2.6 million GM vehicles which have been recalled for faulty ignition switches this year alone. Before it sought help filing bankruptcy, GM had recalled some 9.6 million other vehicles.

City of Detroit Will Demolish Arena, Hand Over Land to Creditor in Bankruptcy Settlement

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chapter 11 bankruptcy attorneyAs its history-making Chapter 11 bankruptcy timeline nears its end, the city of Detroit has made a deal with one of its largest creditors in a move intended to push the city toward post-bankruptcy revival. On Thursday, Oct. 16, Detroit, along with the city’s Chapter 11 bankruptcy attorneys, agreed to demolish the Joe Louis Arena, which had been home to the Detroit Red Wings hockey team up until this point, and its parking garage. The land will be handed over to Financial Guarantee Insurance Co. (FGIC), to which the city owes approximately $1 billion, and will be re-purposed into a new development featuring a hotel, riverfront condominiums and retail shops, the Wall Street Journal reports. The deal will help Detroit and its Chapter 11 bankruptcy attorneys ensure that the city’s debt-cutting plan is manageable for both the city and its creditors. In a typical settlement, surrendering property such as land during a Chapter 11 bankruptcy helps repay creditors and is fairly commonplace. In return for the land, as well as $152 million in city notes and $19.7 million in credits it can use to buy city parking assets or real estate, FGIC will drop its objections to Detroit’s Chapter 11 bankruptcy and taxes readjustment plan, Reuters reports. According to the Wall Street Journal, FGIC considers the location of the Joe Louis Arena to be a prime spot for its planned development, as it is close in proximity to Detroit’s Cobo convention center that hosts the North American auto show each year. With FGIC’s settlement with Detroit and the city’s Chapter 11 bankruptcy attorneys made, experts predict the city’s debt readjustment plan is coming close to an end. “A settlement with FGIC, as the last major holdout creditor, certainly provides substantial assistance to the city in obtaining approval of its monumental bankruptcy plan,” John Hutton, an attorney at Greenberg Traurig who is not involved in the bankruptcy, told Reuters. “The court must still independently determine that the plan is feasible, and must still find that the city has a reasonable likelihood of achieving its financial projections and performing its obligations.”

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How to Make Sure You Avoid a Medical Bankruptcy

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chapter 13 bankruptcy attorneyThis year, as many as one in five Americans will be contacted by a debt collection agency regarding unpaid medical bills. Will you be one of them? Despite more Americans having access to health insurance than ever before under the Affordable Care Act, many people are still unable to afford new, higher deductibles that come as a result of existing medical debts — and the result for these people is mountains of debt that often convinces them to contact a Chapter 7 bankruptcy attorney or Chapter 13 bankruptcy attorney for bankruptcy help.