#Bankruptcy Filing in Illinois

[beardedmrbean]

With some Democrats deciding to re-commit funds from FTX donations towards charity or other party campaigns after the crypto exchange’s bankruptcy, Rep. Maxine Water, D-Calif., told FOX Business she doesn’t "want to get into that" topic.

Waters avoided reporter Hillary Vaughn’s question when asked if Democrats who received campaign cash from FTX should give it back, saying, "Well, I don't want to get into that. As a matter of fact, both sides, Democrats and Republicans, have received donations. So thank you."

The Chairwoman of the House Financial Services Committee, however, did claim that lawmakers will be putting together a hearing to "explore exactly what has taken place" with FTX.

Sam Bankman-Fried, the founder of bankrupt crypto exchange FTX, was a major contributor to Democratic candidates during the midterm election cycle, funneling most of his donations through a little-known political action committee (PAC).

FTX FOUNDER SAM BANKMAN-FRIED HIT WITH CLASS-ACTION LAWSUIT THAT ALSO NAMES BRADY, BUNDCHEN, SHAQ, CURRY

Overall, in 2021 and 2022, Bankman-Fried donated nearly $38 million to various candidates and PACs, mainly giving his cash to Democratic candidates and left-wing groups, according to Federal Election Commission filings (FEC). The majority of his political givings, though, went to the Protect Our Future PAC, a group founded in January that is dedicated to boosting candidates committed to preventing future pandemics.

Bankman-Fried wired an initial $9 million in February to the PAC shortly after it was created, FEC records showed. He then made three additional donations worth $18 million between March and June, increasing his total contribution to Protect Our Future PAC to $27 million.

The Daily Beast reached out to more than 25 lawmakers that received money and reported that some said they'll give the money to charity. Other congressmen said they spent it to boost other Democratic candidates, and some didn’t reply at all.

Names of Democratic candidates that have received political contributions from FTX include Rep. Jesus Garcia, D-Ill., and Reps.-elect Morgan McGarvey of Kentucky, Maxwell Frost of Florida, Sydney Kamlager of California, Jonathan Jackson of Illinois, Nikki Budzinski of Illinois, Jared Moskowitz of Florida and Rob Menendez Jr. of New Jersey.

On Wednesday, Bankman-Fried was hit with a class-action lawsuit filed by investors alleging he and other high-profile celebrities – such as legendary NFL quarterback Tom Brady and NBA star Stephen Curry – violated Florida law and made consumers suffer more than $11 billion in damages.

The lawsuit, which names "Sam Bankman-Fried, Tom Brady, Gisele Bundchen, Stephen Curry, Golden State Warriors, Shaquille O’Neal, Udonis Haslem, David Ortiz, William Trevor Lawrence, Shohei Ohtani, Naomi Osaka, Lawrence Gene David, and Kevin O’Leary," seeks to make them "responsible for the many billions of dollars in damages they caused Plaintiff and the Classes and to force Defendants to make them whole."

The suit describes the well-known celebrities as "all parties who either controlled, promoted, assisted in, and actively participated in FTX Trading and FTX US (collectively, the ‘FTX Entities’), offer and sale of unregistered securities in the form of yield-bearing accounts (YBAs) to residents of the United States."

The lawsuit was filed in Florida because the defendants, it says, "conduct business in Florida, and/or have otherwise intentionally availed themselves of the Florida consumer market through the promotion, marketing, and sale of FTX’s YBAs in Florida, which constitutes committing a tortious act within the state of Florida."

Last week, Bankman-Fried admitted his fault in a tweet: "I'm sorry. That's the biggest thing," the founder wrote. "I f---ed up, and should have done better."

[leprivatebanker]

Shuttered Illinois trucking company files for bankruptcy liquidation

[tandemsrollingllc]

Shuttered Illinois trucking company files for bankruptcy liquidation

A shuttered Illinois-based trucking company that once hauled general freight, beverages and paper products recently filed for bankruptcy liquidation. https://www.freightwaves.com/news/shuttered-illinois-trucking-company-files-for-bankruptcy-liquidation/amp

[demondmayhew016]

Keke Palmer Says She Learned To Live Under Her Means After Filing For Bankruptcy At 18 — 'I Got A Toyota Right Now In My Driveway' - AfroTech

#Black Entertainment ❤️🖤💚📽️💿🎼🌹💘👑🎤

[okgooglenews]

These 10 restaurant chains filed for bankruptcy this year - CNBC

* These 10 restaurant chains filed for bankruptcy this year  CNBC * Another restaurant chain files for bankruptcy  PennLive * How Roti went bankrupt  Crain's Chicago Business * Food Chain with 10 Illinois Places Suddenly Declares Bankruptcy  wkdq.com * Struggling Mediterranean restaurant chain vows to stay open amid bankruptcy  cleveland.com http://dlvr.it/TCfSC6

[steadhammond]

These 10 restaurant chains filed for bankruptcy this year - CNBC

* These 10 restaurant chains filed for bankruptcy this year  CNBC * Another restaurant chain files for bankruptcy  PennLive * How Roti went bankrupt  Crain's Chicago Business * Food Chain with 10 Illinois Places Suddenly Declares Bankruptcy  wkdq.com * Struggling Mediterranean restaurant chain vows to stay open amid bankruptcy  cleveland.com

[molsons112000]

When the girl above me spilled the water that leaked down into the ceiling between her floor and my ceiling.And then mold formed.It was up to the association when both the owner of the condo and their tenant refused to pay. Refuse to take care of the damages. See, because now it's in the general area.Which the area between my ceiling above it?That open area and the floor above that there is general area in between.... And since the 2 of them the renter and owner wouldn't take care of the damage.The association takes care of it.And sue's both the owner of the condo and the tenant of the condo not my problem. Why?Because it can do further damage to the general area.And then from the general area damage my unit as well putting the building at more risk....

ibuyers.app

https://www.ibuyers.app › illinois

Tenant Damage To Property in Illinois. What To Do If ... - iBuyers

May 29, 2023 — Landlords may file a lawsuit against the tenant seeking damages for unpaid rent or repairs made to restore the property back

This is where people that have very expensive cars but also with property.It's the same way a car is a property and this can be part of home owners or commercial insurance. They can have coverage for uninsured and under insured and for hit runs. Meaning somebody does damage and either.They refuse to pay the insurance company.Takes care ofic or they do the damage and cannot be found The guilty party....

Progressive

https://www.progressive.com › uni...

UM/UIM: What Is Uninsured Motorist Coverage?

Uninsured/underinsured motorist insurance covers your injuries, your passengers' injuries, and damage to your vehicle if you're hit by a driver who

In Illinois, UM coverage is required. If you are the victim of a hit-and-run accident where you cannot get the insurance information from the person who injured you, your UM coverage is meant to pay what the other driver's insurance would have covered, up to the limits of your policy.Jun 6, 2022

https://www.gainsberglaw.com › d...

Do Insurance Companies Cover Hit-and-Run Accidents?

Like the guys that used to damage the mailbox and take off that's hit run. Private property.

So property casualty companies can cover this.Like they already do with auto insurance.They can offer it on homeowners and other commercial minds as well as liability insurance. Meaning if the other person is uninsured doesn't have liability insurance or is under insured for the damage they do to you or that person physically damages you and then takes off like a hit run The property casually company will cover the damages up to the agreed upon limit.

So this way, they don't have to worry if you got a Ferrari and somebody hits your car and can't pay for the damage. But this is why I hate bankruptcy because they do the damage to the car.The insurance company wants to get its money back.But that person could file bankruptcy and then an insurance company will never get its money back... They can't garnish wages because the person went bankrupt.. So the insurance companies screwed...

Lawsuit Settlements in BankruptcyLegal claims, including personal injury and breach of contract claims, are included in the assets you must list on your bankruptcy schedules when you file for bankruptcy. Whether a settlement is the property of the bankruptcy estate will depend on the date of injury.

https://www.alllaw.com › nolo › re...

What Happens to a Settlement I Receive After Bankruptcy?

A lawsuit settlement or award could be lost if someone files for bankruptcy, but it's not always the case. State exemption laws determine if a settlement can be protected in bankruptcy. If the exemption doesn't cover it, the settlement must be given up. Most states have exemptions that protect a certain amount of personal injury recovery. Some states allow all personal injury case proceeds to be exempt, while others only allow it if the settlement is from wrongful death. 



Nolo

I received a large settlement in a personal injury case. Will I lose ...

You Might Be Able to Exempt Your Settlement. Each state has its own set of exemption laws. And some states allow you to use the federal bankruptcy exemptions instead of state exemptions. Either way, if the money you received in your personal injury settlement is exempt under your state exemption laws, you can keep it in Chapter 7 bankruptcy. Here's how it works. Personal injury lawsuit exemptions. While some states allow you to exempt all the proceeds from a personal injury case, some allow you to do so only if the settlement is from a wrongful death action.



Nolo

Can I Keep a Lawsuit Award or Settlement If I File for Chapter 7 ...

Learn more about our editorial standards. If you've recently received a lawsuit settlement or award and are considering bankruptcy, you should know that you could lose the funds. Most people don't benefit from filing for Chapter 7 bankruptcy after receiving a large lawsuit settlement. But that's not always the case, and keeping an award or a lawsuit settlement needed for your support is possible. Your state exemption law determines whether you can protect a lawsuit award or settlement in bankruptcy. If an exemption does not cover it and you file for bankruptcy, you must give it up. We have some excellent attorneys serving .



AllLaw

What Happens to a Settlement I Receive After Bankruptcy?

Whether a settlement is the property of the bankruptcy estate will depend on the date of injury. If your claim (injury or property damage) arose before your bankruptcy, any settlement you receive after you file your case will usually be the property of the bankruptcy estate. Whether you can keep your settlement proceeds will depend on the type of claim and the exemption laws of your state. Most states typically have exemptions specifically designed to protect a certain amount of personal injury recovery. Inheritance, Death Benefit, Property Settlement, and Divorce Proceeds in Bankruptcy.

If a claim (injury or property damage) occurred before bankruptcy, any settlement received after filing will usually be part of the bankruptcy estate. However, after a Chapter 7 liquidation, the settlement amount is usually not part of the estate and can be kept. 

Bankruptcy can stop a pending lawsuit and clear lawsuit debt in most cases. However, bankruptcy is designed to ensure that the debtor doesn't end up with nothing. Debtors are given another chance to "start again". 

So this means murderers and Rapist may be able to go bankrupt and therefore not continue to owe the debt.

So if they can't go bankrupt then you can garnish their wages and at least get some money over the course of their life and then have a claim against their estate when they die against remaining assets. So they can't protect those assets from your claims.But those assets can be protected from other people's claims.... If they put them in there and they didn't damage other people meaning they had no issues with other people and then later on.Something happened like an accident.Those assets are protected from their claims but not the claims of the people that injured before they put them in the trust. This is the claw back. But it is only related to those that were injured prior to putting the assets in the trust.But that means you didn't have any premeditated intentions to injure anyone after you put the assets in the trust. This is where polygraphs are very important... Because they could have put him in the trust and then later on.Got in themerge and things went wrong and decided to murder their wife... They had no intent of getting married and murdering their wife. They did, but those assets have protection against that situation because it wasn't premeditated to put a man knowing that later on. You could do the crime and get away with it. Meeting your assets would be protected from the claims of the family for wrongful death.... So if your intention were to the fraud future creditors then you lose the protection... But if you had No intention to defraud future creditors Do some evil crime in the future?Then those assets are protected.. .

The concept of garnishment can be fairly confusing, but at its core, garnishment is the legal process creditors use to collect debts. In a personal injury case, this means that a portion of the plaintiff's settlement may be transferred directly to creditors.Oct 25, 2023



https://lowenthalabrams.com › blog

Will My Personal Injury Settlement Be Garnished?

This protects the people that have a rightful claim to those assets as well including the beneficiaries.... Is that they can't be unrightfully deprived of their inheritance or they're damages from the crimes committed against them.... So , even if you've done crimes against other people and you're paying you can still put them in trust and the trustee knows they have an obligation to those prior victims , but if you go on and have a polygraph recorded that you have no intention of doing any wrong to anyone in the future and you put that with the trust information the polygraph test and it would be nice if you took it at three independent people that gave you the polygraph. Yes, usually the court wants more than one.So you go and take three independent polygraphs with different people and you put them in with the trust documents... And they verify at that time you have no intention to harm anyone in the future... So that means assets are protected from future claims but not protected from prior claims... Not protected from any wrong. She did in the past only protected from future wrongs that you intend not to do. So if they happen circumstances change in the future that were basically not foreseen...

Yes, a court can order an employer to garnish wages to pay a judgment from a wrongful injury lawsuit. Garnishment is a legal process that allows creditors to collect debts. In a personal injury case, the plaintiff's settlement can be garnished to pay creditors, but the amount can vary depending on the plaintiff's debt and the severity of their injury. 



MJB Law Group

Can My Personal Injury Settlement be Garnished? | MJB Law Group

Feb 4, 2024 — If you are successfully sued and the plaintiff seeks money from you, the presiding judge may issue an order allowing them to garnish your wages (take a percentage) or levy on a bank or other financial account (take money out of it up to the amount you owe). Either can result from an unpaid loan, a breached contract, back taxes, or unpaid child or spousal support. These are the approaches plaintiffs may take if you're unwilling or unable to give them money to satisfy the judgment against you.



U.S. Department of Labor

Garnishment - U.S. Department of Labor

Tips. Wage garnishment is a legal procedure in which a person's earnings are required by court order to be withheld by an employer for the payment of a debt such as child support. Title III of the Consumer Credit Protection Act (CCPA) prohibits an employer from discharging an employee whose earnings have been subject to garnishment for any one debt, regardless of the number of levies made or proceedings brought to collect it. Title III protects employees from being discharged by their employers because their wages have been garnished for any one debt and limits the amount of employees' earnings that may be garnished in any one week.



Avvo.com

Can my wages be garnished to collect a wrongful death lawsuit ...

Mar 12, 2018 — Yes, wages can be garnished to pay a judgment to the extent that you make enough money. If you are very low income the plaintiff may not be able ...



Lowenthal & Abrams

Will My Personal Injury Settlement Be Garnished?

Oct 25, 2023 — What Is Garnishment? The concept of garnishment can be fairly confusing, but at its core, garnishment is the legal process creditors use to collect debts. In a personal injury case, this means that a portion of the plaintiff's settlement may be transferred directly to creditors. However, it is important to note that this amount can vary significantly based on the severity of the plaintiff's injury and the amount of the plaintiff's debt. When Could Your Settlement Be Garnished? The most common instance of settlement garnishment occurs when a plaintiff has outstanding debts to a government agency or a large private loan.

In Illinois, the maximum amount of wages that can be garnished each week is 15% of the employee's gross pay for that week. It can also be the amount that exceeds 45 times the federal minimum hourly wage for that week. Illinois law also exempts certain income from garnishment, such as pension or retirement fund benefits and refunds. 

To protect a settlement from garnishment, it's important to keep the funds separate from other money. Combining a settlement with a paycheck, also known as "commingling" funds, can make it difficult to protect the settlement under bankruptcy exemptions. 

So this means you can garnish wages from that person. Or get money from that trust until they die. And there might be money left that you are now a beneficiary of that. Trust because you have some kind of damages against that person prior to the trust. Or asset protection being put in place, so you have a claim. But other people that might have damages in the future. Don't have a claim against those assets..... And they should have a criminal record.So with that criminal record people should have been forward to make sure that this person isn't defrauding you...

[wushigod]

An Illinois court late Friday according to Forbes has ordered pharmaceutical giant Johnson & Johnson and Kenvue to pay $45 million to a family that alleged the companies’ talcum-based baby powder led to the death of a relative diagnosed with a fatal cancer linked to asbestos exposure, the company’s latest legal issue involving talc products. KEY FACTS Theresa Garcia died in July 2020 after being diagnosed with mesothelioma, a cancer frequently connected to asbestos exposure, and her family filed a lawsuit alleging that Garcia’s frequent use of the companies’ talcum-based baby powder led to her diagnosis, according to a news release from legal firm Dean Omar Branham Shirley, which represented the family. The firm’s news release said that throughout the case attorneys showed evidence that the products “contained asbestos fibers” and experts “explained that the daily use and amount inhaled by Ms. Garcia throughout her life led to her mesothelioma.” The jury found that Kenvue, the former consumer healthcare division of the pharmaceutical giant that became an independent company in August 2023, was responsible for 70% of the issues that led to Garcia’s death while Johnson & Johnson and another unit were responsible for the remaining 30%, according to the release. J&J’s Worldwide Vice President of Litigation Erik Haas said in a statement the company plans to appeal Friday’s ruling immediately and expects to be successful, going on to say: “The verdict in this trial is irreconcilable with the decades of independent scientific evaluations confirming talc is safe, does not contain asbestos, and does not cause cancer.” Johnson & Johnson won a similar lawsuit in a Florida court Thursday, according to multiple outlets, after a jury decided the company’s baby powder did not lead to the ovarian cancer diagnosis of Patricia Matthey, who used the powder daily and died in 2019 after being diagnosed with the cancer in 2016. KEY BACKGROUND Johnson & Johnson has maintained that its talc-based baby powder does not contain asbestos nor does it cause cancer, and announced in August 2022 it would swap out the substance with cornstarch in products globally beginning in 2023. It previously announced the discontinuation of its talc-based products in North America in 2020, citing declining sales. The Justice Department opened a probe into the products in July 2019, investigating what the company knew about the risk of cancer. Amid thousands of lawsuits over allegations of talc-induced health problems, Johnson & Johnson filed for bankruptcy twice, in October 2021 and April 2023. As part of one of the filings, the company proposed an $8.9 billion settlement last April to resolve the claims brought by thousands of plaintiffs, but the plan was ultimately rejected by a judge in July. BIG NUMBER More than 50,000. That’s how many lawsuits the pharmaceutical giant was facing over the talcum-based baby powder as of December 2023, according to Reuters. TANGENT In January, Johnson & Johnson reportedly entered a tentative agreement that involved the company paying $700 million for the marketing of its talcum baby powder after an investigation from more than 400 states and thousands of lawsuits.

[magicalmulticoloredrobe]

This is horrible. 😢

[blogcowboyron]

Illinois trucking company with 171 drivers files for bankruptcy

Illinois trucking company with 171 drivers files for bankruptcy Nationwide Cargo says funds will not be available for unsecured creditors Clarissa Hawes ·Thursday, March 14, 2024  Nationwide Cargo of East Dundee, Illinois, filed for bankruptcy protection on Wednesday. (Photo: Jim Allen/FreightWaves) Listen to this article 3 min Listen to this article 3 min An Illinois trucking company…

[brookstonalmanac]

Beer Events 2.15

Events

St. Louis founded (1764)

Gerard Adriaan Heineken bought De Hooiberg (the Haystack Brewery; 1864)

William Mainzer and John Singer patented a Cask for Beer and Other Liquids (1881)

Peter Barbery died (1897)

Richard Kubessa patented a Brewing Process (1910)

Anheuser-Busch patented a Merchandise Display Apparatus (1938)

Molson Ltd. incorporated (1945)

Meister Brau filed bankruptcy (1973)

Hopleaf Bar opened (Chicago, Illinois)

Victory HopDevil 1st released (1995)

YouTube launched (2005)

Breweries Opened

Quilmes (Argentina; 1860)

Simeon & Krug (East St. Louis, Illinois; 1869)

Florida Brewing (Florida; 1897)

Portland Brewing (Oregon; 1986)

Broad Ripple Brewing (Indiana; 1991)

Joey's (Texas; 1995)

Old Broadway Brewing (North Dakota; 1995)

Jackson Brewing (Michigan; 1996)

Phoenix Brewing (Arizona; 1996)

Victory Brewing (Pennsylvania; 1996)

[chorusfm]

Merch Company SCP Owes Millions

Chris Eggertsen, writing for Billboard: Illinois-based merch company SCP owes more than $4 million to over 300 clients including Mitski and Brent Faiyaz after abruptly shutting down operations last week, according to internal documents obtained by Billboard. And with plans to file for chapter 7 bankruptcy on Friday, it’s unlikely those clients will ever recover all the money they’re owed.  Some of SCP’s other clients included Father John Misty, Chappell Roan, T-Pain, Finneas, Brand New and Carly Rae Jepsen; record labels Loma Vista Recordings and Triple Crown Records; Pharrell Williams‘ Something in the Water music festival; and online content creators such as the Dungeons & Daddies podcast and YouTubers Team Edge.   --- Please consider becoming a member so we can keep bringing you stories like this one. ◎ https://chorus.fm/linked/merch-company-scp-owes-millions/

[mchenrycountyattorney]

Bankruptcy Attorney near Oakwood Hills, Illinois

When looking for a Bankruptcy Attorney near Oakwood Hills, Illinois, make sure you find one with the experience that you need to successfully file and execute the bankruptcy orders. One of the most important criteria in selecting your legal representative is whether they have the experience with the local courts in Oakwood Hills in bankruptcy law. Other important criteria include how much they will charge you for their work, what the fees covers and what they don’t cover, and how and when they will communicate with you about your progress.

 What work can you expect of your bankruptcy attorney?

 In general, you will sign a retainer agreement which outlines the exact scope of the services your bankruptcy attorney will provide to you. You should expect the following:

 1.   That the attorney is competent to handle your bankruptcy. This means they must be familiar with the federal Bankruptcy laws, local court rules and procedures, and familiar with the bankruptcy trustees in your area.

 2.   You will receive competent legal advice which includes the type of bankruptcy that you should file for, how you can use bankruptcy to help your financial situation, what you can expect during the process, what you must do, and whether there are any difficulties or risks for your case.

 3.   Preparation of your paperwork to file and document the bankruptcy case. You will need to provide all the information requested about income, expenses, assets, and debts. You can expect that all documents will be filed in a timely manner to avoid delays, dismissal of your case, or other adverse consequences.

 4.   Updates during the process which may include requests for additional documents. Information about any new development in your case and status updates along the way. The attorney should also be available to answer your questions while executing the process.

5.   Representation at any Bankruptcy Hearings and at the meeting of the creditors. The attorney will need to represent you at any confirmation hearings or other hearings filed by you, your creditors, or the trustee.

 If you are looking for a Oakwood Hills Bankruptcy Lawyer, be sure to check out the office of Carroll & Carroll, Attorneys at Law. Peter F. Carroll is a competent and thorough bankruptcy attorney near Oakwood Hills, Illinois. He has been serving the area for over 30 years and offers a free initial consultation on your bankruptcy case. Don’t trust your case to someone inexperienced or part of a “Bankruptcy Mill”, which are companies that work on many bankruptcy cases and offer less individualized services. Trust a local Oakwood Hills attorney who is well respected and has the experience you need and deserve.

 Links: https://www.peterfcarroll.com/

https://www.peterfcarroll.com/bankruptcy-attorney-oakwood-hills-illinois

[cmesinic]

Marinate on this.