Lawyers in Minneapolis-St. Paul that focus on assisting you with Real Estate, Estate Planning, Business Matters and Bankruptcy. Call Us: MN (952) 920-1001 or AZ (480) 207-2203 |info@barrylaw.com

Will New Rules Help Minnesota Homeowners Who are Behind on Mortgages?

In April 2012, the federal government’s Consumer Financial Protection Bureau (CFPB) announced that it was considering new rules to increase transparency and accountability in the mortgage servicing industry.   If the proposed rules become final rules, mortgage services would be required to:   Warn homeowners before any interest rate adjustments. Redesign mortgage statements to clearly [...]

By | 2018-05-31T01:18:58+00:00 July 16th, 2012|Blog|0 Comments

Cook and Peregrine in Trouble after Minneapolis-Based Ponzi Scheme Implodes

Trevor Cook is currently serving a 25-year jail sentence for his Minneapolis-based Ponzi scheme, which resulted in millions of dollars in losses for his unsuspecting clients. The organizers of Ponzi schemes promise high returns to new clients and then use that money to pay off older investors who wish to “cash out” their investments, all [...]

By | 2018-05-31T01:18:58+00:00 July 16th, 2012|Blog|0 Comments

Are Minnesota Jobs in Jeopardy?

Every month, news is released about job gains and job losses in Minnesota. The news from May 2012 brought concern that job growth in Minnesota could be leveling off.   Data released in mid-June showed that while the state unemployment rate remained flat at 5.6%, the job growth seen in Minnesota during the early part [...]

By | 2018-05-31T01:18:58+00:00 July 15th, 2012|Blog|0 Comments

President Obama Talks of Economy and Job Creation in Minnesota Speech

Last month, President Obama discussed his views on the U.S. economy before a Minnesota audience at a Honeywell factory in Golden Valley. According to President Obama, the economy is not growing or creating jobs quickly enough because of external factors such as high gas prices and Europe’s economic issues.   However, the news provided by [...]

By | 2018-05-31T01:18:58+00:00 July 9th, 2012|Blog|0 Comments

Madoff Trustee Adds Additional Defendants to Lawsuit

Trustees serve many roles in bankruptcy cases, namely distributing money to creditors and making sure that all assets are accounted for. In the case of Bernard Madoff, the infamous Ponzi scheme mastermind who stole billions from unsuspecting investors, the trustee is suing not only the bankruptcy estate but also Madoff’s relatives who were involved in [...]

By | 2018-05-31T01:18:58+00:00 July 2nd, 2012|Blog|0 Comments

NFL’s Warren Sapp Files for Bankruptcy

Former NFL defensive lineman Warren Sapp recently filed for Chapter 7 bankruptcy in Florida. Chapter 7 bankruptcy is also called liquidation bankruptcy because most of the debtor’s assets are liquidated (i.e., sold by the bankruptcy trustee) and the proceeds are used to pay off creditors. Certain categories of property are exempt from liquidation so that [...]

By | 2018-05-31T01:18:58+00:00 July 2nd, 2012|Blog|0 Comments

Successful MN Restaurateur Files for Chapter 7

Tom Petters, a former Minnesota business mogul, is serving a fifty-year jail term for twenty counts of fraud relating to his $3.65 billion Ponzi scheme. A Ponzi scheme is run by promising high returns to new investors in order to convince them to invest while using the investment money to pay off older investors who [...]

By | 2018-05-31T01:18:58+00:00 July 2nd, 2012|Blog|0 Comments