Bankruptcy Blogs

Chime expands coronavirus stimulus check advances to 100,000 customers

04/09/20

Customers in the challenger bank's pilot program drew down an average of $200 each in advance of the government's $1,200 payments.

[more]

Democrats block McConnell push to boost small-business aid

04/09/20

The maneuver could delay efforts by Senate Majority Leader Mitch McConnell, R-Ky., and Treasury Secretary Steven Mnuchin to add another $250 billion to the Paycheck Protection Program.

[more]

The $2T stimulus isn't a ‘bailout.’ It’s a ventilator.

04/09/20

Critics who argue this crisis mirrors the 2008 financial panic when Congress bailed out banks have it wrong. The new relief package in response to the coronavirus pandemic was necessary to save livelihoods, and more can be done.

[more]

Fed expands use of credit facilities to offer additional $2.3 trillion in loans

04/09/20

The Fed's actions are designed to ensure the flow of credit to midsize businesses and state and local governments hit hard by the economic impact of the coronavirus pandemic.

[more]

Banks get big capital break for small business loans amid crisis

04/09/20

The Federal Reserve and other regulators are planning to grant a sweeping capital break for banks providing loans to small businesses as part of the government's response to the coronavirus-fueled economic crisis.

[more]

Fed eases Wells Fargo asset cap; U.K. bankers forego bonuses

04/09/20

The bank will be allowed to exceed the limit to enable it to make more small business loans; the CEOs of HSBC and StanChart are also donating part of their pay to coronavirus victim charities.

[more]

Alternative lender rolls out contactless card amid pandemic

04/09/20

Upgrade's hybrid loan-card product can now be used without swiping as consumers and retail workers seek to minimize spread of novel coronavirus.

[more]

Is it time to worry about inflation — or deflation?

04/08/20

With the government pumping trillions of new spending into the economy, experts are questioning the Federal Reserve's ability to keep prices stable.

[more]

How the coronavirus crisis is upending auto lending

04/08/20

Closed showrooms, temporary bans on repossessions and a sudden spike in unemployment have dimmed the prospects of a sector that has boomed since the last recession.

[more]

Third Circuit Allows Third Party Release on "Exceptional" Facts

04/08/20
Third party releases have long been a controversial feature of certain chapter 11 plans. They are neither specifically allowed nor prohibited by the plain language of the Bankruptcy Code. This has led courts to reach differing results. There are two important principles at play in these cases. On the one hand, bankruptcy exists to provide relief to debtors. On the other hand, bankruptcy plans are intended to provide the greatest possible return to creditors.
[more]