Bankruptcy Blogs

Oil and Gas Driller Chaparral Files for Chapter 11 Bankruptcy

05/10/16

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Standard Register Company Preference Actions Filed

05/09/16

On May 5, 2016, SRC Liquidation, LLC International Holdings, LLC (“Liquidating Debtor”), filed approximately 137 complaints seeking the avoidance and recovery of allegedly preferential and fraudulent transfers under Sections 547 and 550 of the Bankruptcy Code.  The Liquidating Debtor also seeks to disallow claims of such preference defendants under Sections 502(d) and (j) of the Bankruptcy Code.

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Q: Injunction Junction – What’s Your Function? A: Terminating Bankruptcies

05/09/16

On May 6, 2016, we had the occasion to observe a hearing on a motion to dismiss filed in Skybridge Spectrum Foundation’s bankruptcy case, Case No. 16-10626 (CSS).

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Lending Club Lays Bare Marketplace Lending's Problems

05/09/16

We should all understand now that pure gain-on-sale marketplace lending businesses, like LendingClub, are inherently unstable.

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Kudos to Fed for Targeting Shadow Bank Systemic Risk

05/09/16

The Federal Reserve deserves praise for a proposal that would strengthen financial stability by eliminating the rights of counterparties to tear up derivatives contracts in a failure.

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Coming and Going Concerns

05/09/16

David Ampaw and Chris Parker have been promoted to partner in the restructuring group in DLA Piper’s London office. Mr. Ampaw has advised clients in restructurings, workouts and insolvencies in the U.K. and abroad, and he has experience in the oil and gas industry. Mr. Parker has experience with fraud, investigations and litigation in complex restructurings.

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The CFPB's Proposed Rules on Consumer Financial Arbitration

05/09/16

As has been expected for some time, the Consumer Financial Protection Bureau has issued a proposed rule that would prohibit companies providing consumer financial services from

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Don't Ignore This FDIC 'Request for Comment'

05/09/16

The Federal Deposit Insurance Corp.Â's request for input on mobile financial services allows banks to promote how their mobile app helps the underserved, which is a plus when seeking merger approval.

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Morning Scan: LendingClub Woes; Dimon's Fintech Warning

05/09/16

Receiving Wide Coverage ...

Laplanche Resigns: LendingClub chief executive and chairman Renaud Laplanche resigned after an internal review of loan sales found $22 million in near-prime loans to a single investor, against that investor's instructions. Separately, the investigation also showed a failure to report personal interests held in a third-party fund to the board's risk committee, as the company was mulling an investment in the same fund. President Scott Sanborn will become acting CEO and director...

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Arch Coal Could Have Fight Over Bankruptcy Plan

05/09/16

[wsj-responsive-image P="//si.wsj.net/public/resources/images/BN-NQ955_0421ca_P_20160421113701.jpg" J="//si.wsj.net/public/resources/images/BN-NQ955_0421ca_J_20160421113701.jpg" M="//si.wsj.net/public/resources/images/BN-NQ955_0421ca_M_20160421113701.jpg" caption="Caterpillar, Inc. heavy dump trucks mine coal at the Arch Coal Inc. Vindex surface mine in Frostburg, Maryland, on Wednesday, Jan. 13." credit="Bloomberg News" placement="Inline" suppressEnlarge="false" ]

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