And if you've been noticing more retailers going bankrupt than usual these days, it's not your imagination. According to AmLaw Daily, Euler Hermes, a Paris-based, credit insurer, 42,000 businesses became "insolvent" in 2008 with Chapter 7 liquidations, Chapter 11 reorganizations and Chapter 13 filings for individuals showing a significant increase in 2008 over the previous year. In 2009, M. Hermes expects 20,000 more companies to become insolvent. On the bright side, the American public can expect even more 'going out of business' sales next year from their favorite retailers as every one of our favorite stores appears to be going bankrupt. Let's go shopping!
You always hear about plaintiffs winning these big settlements thanks to their brilliant attorneys, but that's usually where the story ends. Right? Wrong— especially if you can't pay your bill. Above The Law reports that law firm Blank Rome is suing its former client Mos Def over an estimated $60,000 in unpaid legal bills. You know, if you're going to allegedly flake out on a bill, make sure it's not to your attorney, just a lil' piece of advice I've picked up over the years!