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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Battery Maker A123 Systems Wins Final Bankruptcy Approval

Failed battery maker A123 Systems wins final bankruptcy approval and will be permitted to move forward with its reorganization plan, a U.S. bankruptcy judge ruled. U.S. Bankruptcy Judge Kevin Carey approved the company’s plan to exit bankruptcy after using the proceeds from its asset sales to repay its creditors. The battery manufacturer, now named B456 Systems, faced several […]

Author: Joel R. Glucksman

May 31, 2013

Emergency Manager Orr: Detroit Nearing Municipal Bankruptcy

The once-bustling city of Detroit may be weeks from seeking municipal bankruptcy protection, according to the findings of a report from appointed emergency manager Kevin Orr. Orr’s analysis reveals that the city is short of cash and faces the very real risk of running out of funds to maintain city services, pay employees, and fund retirement […]

Author: Joel R. Glucksman

May 30, 2013

Business Bankruptcies Declined in 2012 and Q1 of 2013

The number of high-profile corporate bankruptcies that have made national headlines in recent months suggests that business bankruptcies are on the rise. However, a new analysis shows that the opposite is true. According to new research compiled by Credit2B, a Smyyth company that specializes in credit and accounts receivable management technology, business bankruptcy filings fell for […]

Author: Joel R. Glucksman

May 28, 2013

Hedge Fund's Real Estate Unit Placed into Bankruptcy to Avoid Litigation

Hedge fund billionaire John Paulson has placed the real estate unit of his hedge fund into bankruptcy to avoid litigation, including a costly lawsuit brought against it by a lender. Five Mile Capital Partners recently brought a suit against executives of Paulson’s MSR Hotels & Resorts Inc. – the real estate arm of Paulson & Co. […]

Author: Joel R. Glucksman

May 24, 2013

Court Grants ResCap Extension to File Reorganization Plan

A U.S. Bankruptcy Court has granted Residential Capital’s request for a 30-day extension in filing its reorganization plan. During this period, the company will be unencumbered by the risk of rival proposals. In a U.S. Bankruptcy Court in Manhattan, Judge Martin Glenn addressed the progress that’s already been made in the contentious and ongoing bankruptcy dispute, and […]

Author: Joel R. Glucksman

May 23, 2013

Reorganization Plan

Cengage Considering Bankruptcy Proceedings

Cengage Learning, the elite academic content and software corporation, is strongly considering seeking bankruptcy proceedings following the release of disappointing third quarter financial results. In a conference call with reporters, Cengage CEO Michael Hansen explained that the company was forced to borrow the whole of its remaining available credit limit – approximately $430 million – in […]

Author: Joel R. Glucksman

May 21, 2013

Gossip Girl's Kelly Rutherford On the Brink of Bankruptcy Due to Costly Custody Battle

Actress Kelly Rutherford, known well for her role on the TV show Gossip Girl, announced that she is exploring bankruptcy protection as a financial option to overcome piles of legal bills and related expenses associated with a costly custody battle. The 44-year-old thespian entered into a highly public and contentious custody battle with her ex-husband, German […]

Author: Joel R. Glucksman

May 17, 2013

Ally Denies Role in ResCap Bankruptcy

GMAC’s Residential Capital is one of the most recent financial services companies to file for bankruptcy after a period of economic hardship. However, creditors in ResCap bankruptcy insist that Ally Financial is on the hook for much of the company’s liabilities, Dow Jones Newswires reports. In a recent filing with the U.S. Bankruptcy Court in […]

Author: Joel R. Glucksman

May 16, 2013

Electric Car Maker Seeks Bankruptcy Protection

Coda Automotive, an electric car maker seeks bankruptcy protection in a U.S. Bankruptcy Court in Delaware. The company plans to exit the automotive industry altogether to focus its resources on energy storage, as the technology it currently uses to manufacture green vehicles is the same as that used to store power, according to the New […]

Author: Joel R. Glucksman

May 14, 2013

Kodak Nears Bankruptcy Exit Following Deal with U.K. Pension Plan

Kodak nears bankruptcy exit following formal bankruptcy proceedings to sell its assets to a United Kingdom pension fund. Under the terms of the agreement, photography pioneer Kodak will sell its document and personal imaging businesses to its British pension fund for $650 million in cash and non-cash assets. The pension fund would also pick up […]

Author: Joel R. Glucksman

May 10, 2013

SEC Report: Municipal Bankruptcies Poses Threat to Municipal Bond Market

A new report suggests that the pace and threat of municipal bankruptcies poses threat for investors and the municipal bond market. The Securities and Exchange Commission released an analysis of the municipal bond market and its response to some of the largest city bankruptcies to befall the country, including San Bernardino and Stockton, California. In […]

Author: Joel R. Glucksman

May 9, 2013

Supermodel Janice Dickinson Files for Bankruptcy

Commonly referred to as the world’s first supermodel, Janice Dickinson files for bankruptcy law protection to get out from under $1 million in debt. The supermodel turned reality-star listed several unpaid debts, including $500,000 in taxes owed to the states of New York and California as well as the Internal Revenue Service over the course […]

Author: Joel R. Glucksman

May 7, 2013

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