Total Bankruptcy Filings Up 33 Percent in Third Quarter
The 388,485 total U.S. bankruptcies filed during the third quarter of 2009 (July 1 – Sept. 30) represented a 33 percent increase over the 292,291 cases filed over the same period in 2008, according to data released on Wednesday by the Administrative Office of the U.S. Courts… Read More

Lawmakers Look to Introduce Credit Card Usury Legislation
Several congressional Democrats said on Wednesday they plan to introduce legislation next week to cap credit card interest rates… Read More

Report: Auto Suppliers Face Potential Return to Bankruptcy
A recent report from Fitch Ratings said that auto-parts makers could be caught in an “airline-style cycle” and be forced to return to bankruptcy court as the industry struggles to rebound… Read More

USDA Objects to Pilgrim's Pride’s Reorganization Plan
The U.S. Department of Agriculture challenged the reorganization plan of bankrupt poultry processor Pilgrim's Pride Inc. on Wednesday, claiming that the plan provides releases to the company that could wrongly excuse it from federal industry regulations… Read More

Analysis: Default Swap Reforms Roiled in Recent Deals
Wall Street’s system for determining payments on derivatives linked to the debt of defaulted companies is showing cracks less than a year after securities firms changed practices to avoid “Draconian” regulation… Read More