The Law: King of Bankruptcy

Some 188,500 hard-pressed individuals and companies in the U.S. went to court last year to declare themselves bankrupt. This year the total may reach a record 250,000. Nowhere is the business of going bust booming more than it is in that erstwhile capital of easy living, Los Angeles. Personal bankruptcies rose by more than 18% in the L.A. area last year, and they are already up another 48% in 1975. So it is no real surprise that the busiest bankruptcy lawyer in the nation is headquartered in Los Angeles. He is Hugh Slate, 58,...

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