RR Donnelley Acquires Bowne & Co.

On November 22, 2010, R. R. Donnelley & Sons Company and Bowne & Co., Inc. jointly announced they received notification from the Federal Trade Commission that its investigation of RR Donnelley's proposed acquisition of Bowne & Co. has been closed and no additional action by the FTC was warranted. Pending notification by the FTC that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for the proposed acquisition of Bowne by RR Donnelley terminates, RR Donnelley and Bowne expect to complete the acquisition. The unemployment rate in San Francisco, Walnut Creek, Oakland will surely be affected with more companies announcing acquisitions. California's October 2010 unemployment rate was 12.4 %, same as it was in September and August 2010. Things did not get worst, but for many, things did not get better. According to the Los Angeles Times on September 21, 2010, California's unemployment rate is the third highest in the nation. With continued unemployment, San Francisco, Elk Grove, Sacramento, Walnut Creek, Fairfield people are in fear of losing their property. The US Constitution provides a remedy for helping people in debt. This solution is bankruptcy. People may keep most of their belongings if they file Chapter 7 or 13 bankruptcy. A debtor may keep a San Francisco Bay Area home under either Chapter 7 or Chapter 13, but different rules apply. If a person files Chapter 7, s/he can elect to keep a home provided s/he does not exceed the exemption limit on equity in a home. If a person files Chapter 13, s/he may keep a house even when the equity exceeds the exemption limit if a court confirms a repayment plan. When a person is behind on mortgage payments or wants to remove a second mortgage, Chapter 13 may be more appropriate than Chapter 7 to allow missed mortgage payments to be paid as part of a repayment plan, avoiding foreclosure. Most people who file bankruptcy can keep their cars. Under Chapter 7, a debtor keeps a car if s/he has no equity or equity below the exemption amount. If a person is behind in car payments, a lender may repossess the vehicle prior to a bankruptcy filing. After a bankruptcy filing, the lender's actions to repossess are stayed, giving time to the debtor to either abandon or redeem/reaffirm the debt on the car. If a person leases, there is no equity in the car, and the person may keep the leased car as long as s/he makes the contractual payments. In Chapter 13 bankruptcy, a debtor's car payments become part of the repayment plan. Rinne Legal helps people with bankruptcies and loan modifications in Contra Costa County, Sacramento County and Solano County. We have offices in Walnut Creek, Fairfield, Sacramento and Elk Grove. Contact Rinne Legal for a free consultation. Follow Rinne Legal on Twitter @RinneLegal. These blog posts are for informational purposes only and not intended nor should be construed as legal advice. These blog posts may be considered attorney advertising in some states. Prior results described on blog posts do not guarantee similar outcomes in future cases or transactions.

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