Bankruptcy Blogs

Yahoo Fights Irish Bank’s Demand for Emails

04/27/16

A fight has erupted in a Delaware bankruptcy court pitting Internet company Yahoo Inc. against officials winding down a failed Irish bank.

On one side are officials overseeing the bankruptcy of the Irish Bank Resolution Corp., a state-backed bank liquidating the remnants of Anglo Irish Bank. The officials want access to an email account created by a man named Abdullah Rasimov that may provide clues to how a former billionaire businessman allegedly stashed assets beyond their reach.

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Morning Scan: Citi Pay Plan OK; FinCEN's Calvery's Next Step?

04/27/16

Receiving Wide Coverage ... Voicing Some Objection: About two-thirds of Citigroup shareholders endorsed the bankÂ's executive pay package in a vote at its annual meeting Tuesday (compared to the 93% average of shareholder support for executive pay packages in the S&P 500 last year). Just 63.6% approved CitiÂ's plan, which proxy advisors strongly discouraged after chief executive Mike Corbat received a 27% raise (to $16.5 million) despite shareholder returns that have lagged that of competitors. Objections to theÂ...

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How Banks Could Suffer from Curbs on Work Visas

04/27/16

While banks should be wary of potential restrictions on the H-1B visa program, policymakers should be mindful of the consequences of limiting H-1B visas too severely.

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Retailer Sports Authority Abandons Reorganization

04/27/16

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To Network Effectively, You Have to Engage, Not Just Show Up

04/26/16

Networking is a skill, and banks would be wise to offer their employees a little guidance on how to do it effectively. Otherwise, there will be more failed efforts, like this one from a new banker in town who surely thinks he "networked" at a recent golf tournament. Here are a few tips to maximize the time and money you invest in such events.

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CFPB's Court Challenges Could Have Been Avoided

04/26/16

The courts would not be getting involved in defining the reach of the Consumer Financial Protection Bureau if the architects of the agency had instituted a commission to oversee it.

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Morning Scan: Reinventing Goldman; Rise of the Analyst-Activist

04/26/16

Receiving Wide Coverage ...

Goldman's Goings On: Goldman Sachs has opened an online bank offering high-yield savings accounts (1.05%, 100 time more than at any Big Four bank) and certificates of deposit (1% on one-year CDs; 2% on five-years) for the average Joe, begging the question from industry observers: why is Goldman so hungry for retail deposits? First, financial regulation. Consumer deposits are a steadier and lower-cost source of funding than short-term loans from other financial...

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Zohar Funds Turn Up Heat

04/26/16

[wsj-responsive-image P="//art.wsj.net/api/photos/30935767/smartcrop?height=499&width=749" J="//art.wsj.net/api/photos/30935767/smartcrop?height=639&width=959" M="//art.wsj.net/api/photos/30935767/smartcrop?height=853&width=1280" caption="In this Jan. 16, 2015, photo, Patriarch Partners' Lynn Tilton attends an awards ceremony in Los Angeles. The funds she managed for years are turning up the heat on Patriarch." credit="Associated Press" placement="Inline" suppressEnlarge="false" ]

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How Corporate Culture Can Be a Competitive Edge

04/25/16

What does a chief culture officer do? Though this is an uncommon title in banking, it is starting to pop up in more executive suites. HereÂ's why one bank sees the role as an important factor in its effort to excel.

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Abengoa Court Enters Order Permitting Debtors to Reject Nonresidential Real Property Leases

04/25/16

Recently in the Abengoa SA bankruptcy proceeding (click here to review prior post), the United States Bankruptcy Court for the District of Delaware entered an order permitting Debtors to reject certain nonresidential real property leases (the “Rejection Order”).

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