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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Wet Seal Retailer May Soon File For Bankruptcy

Amid the declining profitability of shopping mall chains across the U.S., retailer Wet Seal appears to be poised on the brink. The Foothill Ranch-based company announced Jan. 7 that it will close 338 stores and lay off close to 3,700 employees, according to The Los Angeles Times. This represents approximately two-thirds of the retailer’s locations. The […]

Author: Joel R. Glucksman

January 27, 2015

Archdiocese of Saint Paul and Minneapolis Files For Bankruptcy

The Archdiocese of Saint Paul and Minneapolis has been under fire for quite some time regarding alleged sexual abuse by its member priests. The Archdiocese of Saint Paul and Minneapolis filed for protection under Chapter 11 of the bankruptcy law on Jan. 16, according to The Star Tribune. The filing appears to reflect the Archdiocese’s belief that it cannot […]

Author: Joel R. Glucksman

January 22, 2015

Marijuana Businesses In Colorado Unable To File For Bankruptcy

Marijuana businesses aren’t allowed to go up in smoke, even when they aren’t making any money in Colorado. So what are they going to do? The burgeoning marijuana industry in Colorado has run into yet another legal snafu, as inconsistencies between state and federal laws are preventing businesses and owners from filing for protection under […]

Author: Joel R. Glucksman

January 20, 2015

Revel Casino Deal May See A Price Cut

The second-place bidder in the liquidation auction for Revel Casino, which now has the option to buy the failed Atlantic City casino, has asked for a price cut because of alleged improprieties in the auction process. Glenn Straub’s Polo North Country Club Inc. said that the purchase price for the casino and its assets should […]

Author: Joel R. Glucksman

January 20, 2015

Bankruptcy Fees Announced Paid By The City of Detroit

As the curtain opens slowly Detroit’s bankruptcy fees are revealed… City officials disclosed Dec. 30 that Detroit paid out approximately $170.2 million in bankruptcy fees and expenses to lawyers and restructuring consultants during its landmark bankruptcy case. When the state’s reimbursement of $5.29 million is considered, the total fees paid from the city’s general fund […]

Author: Joel R. Glucksman

January 15, 2015

Caesars Signs Agreement With Senior Creditors

Caesars Entertainment Corp. reportedly signed an agreement with its most-senior creditors on Dec. 19 to put its largest unit into bankruptcy, according to Bloomberg. The deal is known as a lock-up agreement, and requires the company to put subsidiary Caesars Entertainment Operating Co. into bankruptcy by Jan. 15, the news source explained. The company will […]

Author: Joel R. Glucksman

December 30, 2014

American Laser Skincare Attracts Consumer Iire

American Laser Skincare has gone out of business, leaving many customers who had already paid for or received service in a difficult situation. The Farmington Hills-based company filed for protection under Chapter 7 of the bankruptcy law recently, listing assets of less than $50,000 and debts in excess of $100 million, according to documents filed […]

Author: Joel R. Glucksman

December 23, 2014

The City Of Detroit Emerges From Bankruptcy

The city of Detroit emerged from bankruptcy on Dec. 10, closing a painful chapter in its history and opening the door to a potentially brighter future. Detroit marked the largest municipal bankruptcy in American history, according to The New York Times. Its historic bankruptcy filing lasted a total of 17 months – relatively short compared […]

Author: Joel R. Glucksman

December 18, 2014

Bankruptcy Judge Decides to Void Revel Casino Sale

A bankruptcy judge on Dec. 12 voided the proposed sale of the Revel Casino Hotel to a Canadian firm that backed out of the deal. As requested by Revel Entertainment, Bankruptcy Judge Gloria Burns canceled the sale of the casino to Toronto-based Brookfield Asset Management for $110 million, according to The Associated Press. The company […]

Author: Joel R. Glucksman

December 16, 2014

Judge Gross Threatens To Liquidate Trump Entertainment

U.S. Bankruptcy Judge Kevin Gross has questioned the reasoning for permitting Trump Entertainment to remain in Chapter 11. When Trump Entertainment filed for protection under Chapter 11 of the bankruptcy law, it intended to restructure and go on being profitable. Now that it seems this is less likely, Gross has ordered the company to demonstrate why […]

Author: Joel R. Glucksman

December 11, 2014

Banks using credit scores to recoup bankruptcy-discharged debt

Going through bankruptcy as an individual is designed to be unpleasant. A personal bankruptcy generally has a dramatic negative impact on a credit report and can put some loans out of grasp for up to a decade. The financial tool is designed this way to ensure that it is only used as a last-ditch resort […]

Author: Joel R. Glucksman

December 9, 2014

Trump Taj Mahal may close Dec. 12, union protesting

Despite the view of some analysts that the Trump Taj Mahal is close to insolvency, there is no shortage of argument over what is to be done about the casino. Trump Entertainment Resorts has announced, in a disclosure statement filed in bankruptcy court, that it expects to close down the Trump Taj Mahal by Dec. 12, according to […]

Author: Joel R. Glucksman

December 4, 2014

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