Bankruptcy Blogs

Addressing the coronavirus; Wells workers to testify

02/27/20

Wall Street banks make plans to keep workers in Tokyo safe; the employees are bringing their grievances against the bank to Capitol Hill.

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A banker’s guide to Super Tuesday

02/26/20

While the Democratic debates have had little discussion about financial policy, the remaining presidential contenders have taken noteworthy positions on regulatory relief, antitrust rules and bankruptcy reform, among other issues. Here’s a rundown.

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CenterState, South State took parallel paths to a merger

02/26/20

The companies spent much of the past decade completing smaller deals that created complementary footprints in the Southeast.

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House panel criticizes SBA over proposed affiliation rule

02/26/20

Members of the House Financial Services Committee expressed concerns to SBA Administrator Jovita Carranza that the rule could harm poultry farmers.

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Veteran banker forms company to buy two Tennessee community banks

02/26/20

Lineage Financial Network, led by former Franklin Financial CEO Richard Herrington, plans to acquire Sumner Bank and Citizens Bank.

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Banks walk fine line in preparing for a coronavirus outbreak in U.S.

02/26/20

As the COVID-19 virus spreads globally, many U.S. financial institutions are said to be taking steps to protect employees and minimize disruption. But only a handful are sharing specifics, to avoid contributing to any public panic.

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Mallinckrodt Pharmaceuticals Bankruptcy and Channeling Injunction Puzzle

02/26/20

The outline of Mallinckrodt Pharmaceutical’s chapter 11 proposal (no filing yet) puzzles me.  Mallinckrodt is looking to put its US speciality generic subs in the chapter to slough off opioid liability, while keeping the parent and other subs out of bankruptcy.  The proposal would have Mallinckrodt fund a trust with $1.6 billion (face value) of cash payments and warrants for the purchase of 19.99% of Mallinckrodt parent’s common stock at a strike price that’s currently in the money.

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CFPB forced to complete small-business lending rule

02/26/20

After dragging its feet, the agency has agreed to a court-supervised process for writing a Dodd-Frank-mandated rule aimed at stamping out discrimination.

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How New York became Wells Fargo’s new center of power

02/26/20

Under CEO Charlie Scharf, the bank that has historically viewed itself as more Main Street than Wall Street is becoming deeply embedded in the nation’s financial capital and its hard-charging culture.

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ICBA urges Congress to turn up the heat on credit unions during upcoming meetings

02/26/20

The banking group issued lawmakers a guide on questions to ask when credit union executives visit Capitol Hill this week.

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