Minneapolis Business Lawyer

Bernie Madoff has recently been sentenced to 150 years in prison in his role for creating the world’s largest Ponzi scheme.  The Ponzi scheme was responsible for the loss of billions by many individuals.  Investors,  families, and charities all fell victim to this Ponzi scheme.

The judge was very harsh with the sentence against Madoff.  In a symbolic sentence, Madoff will receive 150 years in prison.  The harsh sentence should make a statement that such large scale fraud will never go unpunished.

If your business, small or large, needs legal help please contact the Minneapolis business lawyers of Skjold Barthel at 612.746.2560. They may be able to help.

Denny Hecker has asked for the location of his bankruptcy filing to be changed from Duluth to Minneapolis.  The reason for asking for the new location of the filing is that the current location is inconvenient and not as accessible as Minneapolis.

Hecker is currently reported as possibly owing as much as $1 billion to creditors.  Twenty five of his twenty six dealerships were recently closed.

During the court filing, Hecker filed his home address as a vacation home he owns that is estimated worth around $9 million.

If your business, small or large, needs legal help please contact the Minneapolis business lawyers of Skjold Barthel at 612.746.2560. They may be able to help.

At least 10 banks have recently agreed to repay about $69 billion dollars to the federal government.  The repayment is for the massive bailout money that was given to many of the backs as a part of the  TARP program.

This repayment is coming about as many banks argued that too many restrictions were being placed on them as a part of receiving TARP Funds.

Many are seeing this repayment of TARP funds as an important step in the improvement of the economy. These repayments could be seen as a precursor to more future business activity.

If your business, small or large, needs legal help please contact the Minneapolis business lawyers of Skjold Barthel at 612.746.2560. They may be able to help.

Denney Hecker has filed for bankruptcy.  One of the largest autodealership owners in Minnesota recently filed for Chapter 7 on Thursday.

The filing for bankruptcy has come over many decisions and rulings have affirmed that Hecker may owe over $500 million to various organizations, including Chrysler Financial.

At one point, Hecker had over 26 dealerships but has been forced to sell most of them in order to pay off his debts.

If your business, small or large, needs legal help please contact the Minneapolis business lawyers of Skjold Barthel at 612.746.2560. They may be able to help.

A lawsuit has been brought forth by Gelco Corp. against Denny Hecker that seeks to claim control of a twin-engine Bombardier Challenger jet which is worth over $9.5 million.

Gelco Corp. alleges that Denny Hecker defaulted on over $12.4 million in loans with the company. This is one of many lawsuits against Denny Hecker for defaulting and failing to pay back loans. Mr. Hecker owned one of the largest car dealerships in the entire state before being in his current situation.

If your business, small or large, needs legal help please contact the Minneapolis business lawyers of Skjold Barthel at 612.746.2560. They may be able to help.