A recent report from the agency settles a long-running debate about whether bankruptcy should replace Dodd-Frank’s “orderly liquidation authority.” The financial system needs both.
Process would protect taxpayers from bailing out failed banks; bank plans to raze its midtown Manhattan headquarters and build a 2.5 million sq. ft. edifice on the site.
The Trump administration on Wednesday refrained from proposing the elimination of authority to clean up failed financial behemoths, but the Treasury Department still wants substantial reforms to the resolution powers.
The Supreme Court recently heard arguments in a patent dispute case, Oil States Energy Services, LLC v. Greene’s Energy Group, LLC. Although the case has nothing to do with bankruptcy law, its outcome could have a substantial impact on bankruptcy practice and litigation.
In December 2015, U.S. Bankruptcy Court Judge Laurie Silverstein of the District of Delaware confirmed a plan of reorganization in the Millennium Lab Holdings chapter 11 case that included the non-consensual release of certain claims against various non-debtor third parties. Earlier this year, ruling on an appeal from that decision, U.S.
A recent failed-bank resolution in Europe may serve as a harbinger of how new authorities could cause problems in the U.S. and highlights the potential need for a modified bankruptcy process.
The Supreme Court recently granted certiorari in PEM Entities LLC v. Levin, in which it will decide whether federal or a state law should apply when a debt claim held by a debtor’s insider is sought to be recharacterized in bankruptcy as a capital contribution and treated as equity. The case raises important questions about the extent to which the commencement of a proceeding under the U.S.
The Trump administration’s examination of Dodd-Frank Act powers to allow regulators to seize and unwind a failing megabank is drawing criticism from supervisors at home and abroad.
