Bankruptcy Blogs

Morning Scan: Banks Take a Beating in the Markets

07/07/16

Receiving Wide Coverage ...

Buy low, sell high: If you're heavily invested in bank stocks, best to shut down your browser, step away from the computer and perhaps apply a cool compress to your forehead. It's ugly out there. Twenty of the world's biggest banks have lost a quarter of their combined market value since the beginning of the year, amounting to nearly half a trillion dollars, according to a Wall Street Journal analysis. Turns out...

[more]

Southern District of Georgia: Absolute Priority Rule Applies In Individual Chapter 11 Cases

07/06/16

ch 11After a hearing on the approval of a disclosure statement, Judge Edward J. Coleman of the Middle District of Georgia ruled that the absolute priority rule and new value exception apply in individual Chapter 11 cases.  In re Rogers, Ch. 11 Case No. 14-40219, 2016 WL 3583299 (Bankr. M.D.

[more]

Banks Need to Adapt to Millennials, Not Vice Versa

07/06/16

Millennials, who alreadymake up a third of banked consumers in America, are used to transacting life in clicks and swipes. Institutions must embrace their needs now or risk extinction.

[more]

SynCardia Systems Files Chapter 11 Bankruptcy – First Day Hearing Scheduled July 6, 2016

07/05/16

On July 1, 2016, SynCardia Systems, Inc. (“Debtor” or “SynCardia”) filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code before the United States Bankruptcy Court for the District of Delaware.

[more]

It’s Not Goodbye; It’s ‘See You Later’

07/05/16

[wsj-responsive-image P="//si.wsj.net/public/resources/images/BN-OT702_outout_P_20160705121502.jpg" J="//si.wsj.net/public/resources/images/BN-OT702_outout_J_20160705121502.jpg" M="//si.wsj.net/public/resources/images/BN-OT702_outout_M_20160705121502.jpg" credit="Bloomberg News" placement="Inline" suppressEnlarge="false" ]

[more]

What is the Secret to Making Your Chapter 13 Plan Work?

07/05/16

 

After 25+ years representing hardworking but financially struggling men and women in the Atlanta area, I can report to you that the #1 secret to surviving Chapter 13 is living below your means. This can mean you have to make some difficult choices.

[more]

Swift – Motion for Stay Pending Appeal Denied

07/05/16

On June 29, 2016, Judge Sleet of the Delaware District Court entered an order denying a motion for stay of the Debtors’ plan confirmation pending appeal.  A copy of the related Opinion is attached here.

[more]

Relativity Could Miss $30 Million Payment

07/01/16

Relativity Media LLC is expected to miss a $30 million payment to lenders, which increases doubts about the film studio’s ability to stay afloat after leaving bankruptcy. Read the Daily Bankruptcy Review article via The Wall Street Journal.

[more]

Lenders Cannot Prevent Borrowers From Filing Bankruptcy By Owning Minority Equity With Veto Power Over Borrower’s Decision To File Bankruptcy

06/30/16

In a recent decision, the U.S. Bankruptcy Court for the District of Delaware refused to enforce a provision in the debtor’s LLC operating agreement requiring a unanimous vote of the debtor’s members to authorize the debtor to file for bankruptcy.  In re Intervention Energy Holdings, LLC, et al., 2016 Bankr. LEXIS 2241 (Bankr. D. Del.

[more]