By Charles Moster

As a bankruptcy attorney and former lawyer for the Feds, I feel compelled to point out the drawbacks of the current bailout to GM and other entities which might seek Chapter 11 protection.  The bankruptcy laws afford no special protection to taxpayers in a bailout situation.  As such, the massive outlay advanced by the American people may never get fully repaid in a Chapter 11 proceeding which is highly problematic.

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By Charles Moster 
Well, Benjamin Franklin always said it best and with a unique fervor, “There is nothing certain in life except death and taxes.”  However, in the topsey turvey “Alice through the Looking Glass” world of Chapter 11 bankruptcy only one thing was certain.  At least for a while. (more…)