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General Motors desperately wants to avoid bankruptcy. But at the same time, the automaker is preparing for that possibility. One thing on the to-do list: figuring out where to file for bankruptcy protection, should it come to that...
...those based in New York City and Wilmington - say the process helps shepherd complicated cases into the hands of experienced judges. Yet some legal experts argue that venue-shopping is a way for companies to run from local suppliers, creditors and employees, making it tougher for those groups to file claims and otherwise participate in the case. "The autoworkers live around Detroit," says Lynn LoPucki, a law professor at UCLA. "You go to New York, and suddenly all of those workers can't sit in the courtroom." (Read "Can Detroit Be Retooled - Before It's Too Late...
...most of their business. Cornyn had a history with the issue: as attorney general of Texas, he loudly, though unsuccessfully, argued that the Enron bankruptcy should be moved from New York City to Houston so that workers who lost their jobs could watch and local creditors could more easily file claims. As the law now stands, firms can file bankruptcy where they're headquartered, where they're incorporated or where they have an affiliated company in bankruptcy. Enron was able to file in New York City because a commodities-trading subsidiary had already filed there. The reforms Cornyn proposed never...
...first race of the day, against Cornell and Penn, extreme winds on the Schuylkill River forced the race to change from the dual racing format to a single-file 2,000-meter time trial that was run upriver...
...investigating magistrates get them, there usually isn't enough in the dossier for a case to be tried," Diaz-Jogeix says. "There is no independent alternative to challenge rulings that the abuse accusations are unfounded. That allows police and their superiors to claim the role of victim, and file suit for 'outrage' against the people whose rights were abused by police violence in the first place...