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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Bankrupt San Bernardino Favors CalPERS Over Bondholders

The city council of bankrupt San Bernardino announced it will resume making payments to the state pension fund – the California Public Employees’ Retirement System, or CalPERS – to the chagrin of the city’s bondholders. Municipal lawmakers approved a new 14-month budget that will require it to prioritize some creditors over others. The council voted to continue […]

Author: Joel R. Glucksman

May 3, 2013

California Public Employees' Retirement System

Energy Future Holdings Proposes Bankruptcy Plan

Private energy giant Energy Future Holdings proposed a pre-packaged bankruptcy plan to its creditors in the event that it’s forced to seek bankruptcy law protection under Chapter 11 of the Bankruptcy Code. Under the proposal to restructure roughly $32 billion in debt, the company’s largest creditors would forgive $25 billion in debt in exchange for […]

Author: Joel R. Glucksman

May 2, 2013

Scooter Store Seeks Bankruptcy Protection After Federal Raid Uncovers Fraud

The Scooter Store Holdings, a popular company that sells motorized scooters and wheelchairs throughout the U.S., was forced to file for bankruptcy protection under Chapter 11 of the Bankruptcy Code after a federal raid proved the company was guilty of fraud. In March, the Federal Bureau of Investigation, the Office of the Inspector General, the […]

Author: Joel R. Glucksman

April 30, 2013

Judge Rules Madoff Trustee Cannot Block $410 Million Merkin Settlement

A U.S. District Judge ruled that Irving Picard, the bankruptcy trustee in charge of the Bernard Madoff case, will not be permitted to block the $410 million Merkin settlement resolving New York state’s claims against Wall Street hedge fund manager Ezra Merkin, the man accused of secretly steering client money to Madoff. Picard argued that a […]

Author: Joel R. Glucksman

April 26, 2013

Military, Law Enforcement Supplier Seeks Chapter 11 Bankruptcy Protection

U.S. Cavalry Store Inc., a provider of military and law enforcement gear and equipment, has filed for Chapter 11 Bankruptcy protection. The Kentucky-based company owes money to between 200 and a thousand creditors. It listed assets of less than $50,000 and liabilities ranging from $1 million to $10 million, according to The Associated Press. However, […]

Author: Joel R. Glucksman

April 19, 2013

Chinese Buyer Changes Bankrupt A123 Systems' Name to B456

In a streak of creativity following its purchase of bankrupt battery maker A123 Systems, Chinese firm Wanxiang Group changed the company’s name to B456 Systems and announced its plans to renew operations within the U.S. After filing the new name with the U.S. Securities and Exchange Commission, Wanxiang said it plans to maintain the company’s […]

Author: Joel R. Glucksman

April 18, 2013

Municipal Bankruptcies Pit Pensioners, Bondholders Against Each Other

Several cities have sought bankruptcy law protection under Chapter 9 of the Bankruptcy Code in recent months. A new analysis suggests that as the number of municipal bankruptcies in the U.S. increases, pensioners and bondholders may be in the center of the fight, according to Forbes. Following Judge Christopher Klein’s decision to allow Stockton, California, to […]

Author: Joel R. Glucksman

April 16, 2013

Chapter 9

Fisker Automotive Strongly Considers Bankruptcy

Fisker Automotive, a government-backed manufacturer of luxury, plug-in hybrid sports cars, recently sought legal representation in the likely event that it will file for bankruptcy protection. The company is currently searching for a strategic investor to provide the financial backing that will allow it to avoid bankruptcy proceedings. In the meantime, it was forced to […]

Author: Joel R. Glucksman

April 12, 2013

Fisker Automotive

City of Stockton Qualifies For Bankruptcy Protection

A federal judge has ruled that the city of Stockton, California, is eligible for bankruptcy protection. Thus, the Chapter 9 bankruptcy case filed by the city will continue. Stockton, which is home to some 300,000 residents, recently became the largest city in the United States to file for bankruptcy protection. The city joins fellow California […]

Author: Joel R. Glucksman

April 11, 2013

Payroll Company Files for Bankruptcy Protection

AccuPay, a Bel Air-based payroll company, is seeking bankruptcy protection under Chapter 7 of the Bankruptcy Code as a result of a tax-related investigation. The company listed 95 creditors in court documents and debts of between $100,001 and $500,000 when it filed for protection in a U.S. Bankruptcy Court in Baltimore. The company said it […]

Author: Joel R. Glucksman

April 5, 2013

Grammy Award Winner Dionne Warwick Seeks Bankruptcy Protection

Five-time Grammy award winner Dionne Warwick has filed for bankruptcy protection in New Jersey, listing millions in liabilities, much of which is owed to the Internal Revenue Service. The 72-year-old singer is seeking bankruptcy law protection under Chapter 7 of the Bankruptcy Code, meaning that many of her debts – though not all – may be […]

Author: Joel R. Glucksman

April 4, 2013

Bankruptcy Protection

Trustee Objects to $20 Million Payout to American Airlines Executive

American Airlines Executive, Tom Horton to Receive Severance Package? The bankruptcy of American Airlines has culminated in a multi billion-dollar merger between the distressed carrier and US Airways. While the bankruptcy story may have a happy ending for many workers impacted by the proceedings, there are still several loose ends to tie up, and the […]

Author: Joel R. Glucksman

April 2, 2013

American Airlines

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