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July 20, 2010
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Bankruptcy News

 

Attorney General Advocates Pay Raise for Federal Judges

  January 18, 2007 — Attorney General Alberto R. Gonzales said he thinks federal judges should receive a pay raise. His comments about judges' pay were among those made in a January 17, 2007, speech about the federal judiciary.

According to the speech text, Gonzales said, "I believe that judicial independence also would be strengthened if judges were paid more. I'm not going to argue that federal judges are not earning a livable wage. And I'm not going to argue that the government can or should match dollar-for-dollar the potential private-sector salaries these dedicated men and women could make.

"But there should be some meaningful effort to increase salaries to allow the judiciary to attract and retain the best legal minds – lawyers who could find far more lucrative ways to ply their trade," he said.

Gonzales said that he has talked with "too many potential judicial nominees" who declined federal judgeships because they felt they could not afford to serve. "I hope the Congress will consider enacting a meaningful pay raise for judges, so that future candidates for judicial office will not be faced with that choice, and so that judicial independence will be strengthened," he said.

The attorney general quoted Chief Justice John Roberts' 2006 year-end report, in which the chief justice said, "If judicial appointment ceases to be the capstone of a distinguished career and instead becomes a stepping stone to a lucrative position in private practice, the framers' goal of a truly independent judiciary will be placed in serious jeopardy."  

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Did You Know?    
 
 
Can Co-Signers Be Protected
If you file Chapter 7 bankruptcy, the creditor can proceed against your co-signers, according to the terms of the debt agreement. However, if you file a Chapter 13 debt adjustment, a co-signer is protected if the following conditions are met. The debt must be a consumer debt. Also, the debt may not be incurred in the ordinary course of business, and the co-signer cannot benefit from the proceeds of the debt.

 


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News about Bankruptcy in Bronx and nationwide:

The Honorable Jed Rakoff Approves Settlement of SEC'S Claim for a Civil Penalty Against Worldcom
In its Opinion and Order, the Court concluded that "the proposed settlement is not only fair and reasonable but as good an outcome as anyone could ...
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Civil Enforcement Coordinators Appointed For U.S. Trustee Program
WASHINGTON, D.C.-Antonia Darling and Mark Redmiles have been appointed Civil Enforcement Co-Coordinators for the U.S. Trustee Program, it was annou...
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U.S. Trustee Program Launches Bankruptcy Civil Enforcement Initiative
WASHINGTON, D.C. The United States Trustee Program has launched an initiative to more aggressively use existing civil enforcement methods to curb a...
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Bankruptcy Terms

 


Today's Terms

Exclusivity (period of)

Definition:
A debtor in Chapter 11 has the exclusive right to file a plan of reorganization for the first 120 days of its bankruptcy. Thereafter, unless the period of exclusivity is extended by the court, other parties may file reorganization plans.

Chapter Twelve

Definition:
Family farmer bankruptcies; created by Congress in 1986 (Chapter 12 became effective on November 26, 1986 and is now a permanent Chapter of the Bankruptcy Code); only a family owned farm business can qualify for Chapter 12

Chapter Ten

Definition:
A new chapter of the bankruptcy code proposed in 1992 and pending in 1993. Chapter 10, like Chapter XI of the old code, is designed for small business reorganizations.

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Bankruptcy Hot Topics

 
Topics Related to Bankruptcy:

  • Chapter 7
  • Chapter 13
  • Chapter 11
  • Chapter 12
  • Chapter 9

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