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Top So Cal Law Firms

Jun. 26, 2008

Banking on Bankruptcy

As the subprime lending crisis began claiming victims and the credit market tightened, phones of local banktruptcy lawyers began ringing.

By Rebecca U. Cho
Daily Journal Staff Writer

      Four years ago, Orange County bankruptcy attorney Penelope Parmes was representing a lender who held a mortgage on a defaulted property in Los Angeles, when she discovered that the property owner, an artist who had not sold a painting in 10 years, had managed to purchase several million-dollar homes in the area - all with no source of income.
     ...

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