Detroit emergency manager Kevyn Orr speaks during an interview with The Associated Press in Detroit on Dec. 12, 2013. The architect of Detroit’s bankruptcy filing admits it was a miserable process. But 10 years on, Detroit’s former emergency manager, Orr, maintains the restructuring of the Motor City is among his most important accomplishments. On July 18, 2013, Detroit became the largest city in the U.S. to file for bankruptcy. (AP photo)
A Wisconsin man was sentenced to three years probation and a $1,000 fine for bankruptcy fraud Thursday after he tried hiding a pair of vintage cars from his creditors.
Bruce Polczynski, 57, of Minocqua, Wisconsin, lied to a U.S. bankruptcy trustee about the existence of his 1969 Dodge Charger painted to be a replica of the General Lee from the “Dukes of Hazzard” TV show, as well as his 1979 Pontiac Firebird Trans Am.
Polczynski’s deception did not hold up for long, and both vintage cars were seized and sold in order to pay back his creditors. Polczynski pleaded guilty to bankruptcy fraud on March 31.
Prosecutors say that Polczynski‘s story should serve as a deterrent to others trying to get away with bankruptcy fraud.
“Polczynski’s story, where he was quickly stripped of the assets he tried to hide, suffered the embarrassment of federal prosecution, and received a felony conviction, is a compelling cautionary tale for anyone considering bankruptcy fraud,” said U.S. Attorney for the Western District of Wisconsin Timothy O’Shea in a statement.
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MILWAUKEE — Major League Baseball (MLB) commissioner Rob Manfred said MLB will step in if Diamond Sports stops paying teams rights fees for the Brewers telecasts due to its bankruptcy case, according to our partners at the Milwaukee Business Journal.
Diamond Sports Group, the company that broadcasts Milwaukee Bucks and Milwaukee Brewers games, filed for U.S. bankruptcy protection in March. The Sinclair Broadcast Group subsidiary operates “Bally Sports” and provides local television broadcasts for almost half of NBA, NHL, and MLB games.
According to BizJournal, Manfred said during a press conference at American Family Field last week, “I’m concerned about the RSN situation. We have 14 teams including the Brewers involved in the Diamond bankruptcy.”
Manfred said he hopes Diamond decides to live up to its “contractual obligation” and broadcast the games, “But if they don’t, we will step in and the games will be available both linear (cable) and digital.”
The BizJournal reports that the Brewers have retained attorneys in the bankruptcy case. The case is proceeding in U.S. Bankruptcy Court in Texas.
As TMJ4 News previously reported, in its Chapter 11 petition, Diamond Sports listed assets and liabilities between $1 billion and $10 billion each. Diamond
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The legal team representing the St. Clare’s Hospital pensioners has filed a motion requesting the case be sent back to state court.
In March, the Diocese of Albany announced it was filing for bankruptcy. Bishop Ed Scharfenberger insisted that the diocese didn’t see any other alternative, after settling 50 of over 400 cases brought under the Child Victims Act.
The filing put a hold on the lawsuits involving 1,100 St. Clare’s pensioners who worked at the former hospital in Schenectady. They lost some or all of their retirement savings when, in March 2019, the St. Clare’s Corporation petitioned the state Supreme Court to dissolve, claiming it had run out of money.
Six months later, a group of advocates, including the Legal Aid Society of Northeastern New York and the AARP, filed a lawsuit against the Diocese seeking damages for the pensioners.
In late 2022 a judge ruled the pensioner’s should merge with one filed in May by the Attorney General’s office.
Meryl Grenadier is a Senior Attorney at AARP Foundation.
“Our clients are what is considered, what is called ‘unsecured creditors’ in the bankruptcy proceeding,” said Grenadier. “And in order to obtain any money out of the bankruptcy
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