Bankruptcy Blogs

Puerto Rico: The Commonwealth Plays Hardball

04/06/16

The question is whether it is playing against the House of Representatives, and its heavy handed PROMESA draft bill, or its creditors.

In any event, according to the Financial Times, Puerto Rico's legislature has passed a law giving its governor "the power to declare a state of emergency and halt payments to creditors until January 2017."

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The 'Glengarry Glen Ross' Approach to Bank Sales Doesn't Work

04/06/16

In a more competitive-than-ever industry, sales activity is an important part of bankers' jobs, but it is not the only part.

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CFPB Payday Rules Are Win-Win for Lenders and Consumers

04/06/16

For the benefit of consumers who rely on non-prime credit and the lenders that provide it, Consumer Financial Protection Bureau rules offering clarity and consumer protections canÂ't come soon enough.

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11th Circuit: FDCPA Requirements Apply Equally To Communications with Debtor’s Lawyer

04/06/16

FDCPA2The Eleventh Circuit recently addressed three issues of first impression in the Circuit regarding the application of the  Fair Debt Collection Practices Act (FDCPA) to letters to consumers’ lawyers.  Not surprising

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Nobody Told Us

04/06/16

Yesterday Senator Warren rightly excoriated former Fed consumer regulator, now industry lawyer Leonard Chanin after he claimed that, prior to the 2008 crisis, the Federal Reserv

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Morning Scan: Fed Minutes Primer; How Will Sanders Slash Banks?

04/06/16

Wall Street Journal The paper suggests five things to watch for in the minutes from the Federal Open Market CommitteeÂ's March 15-16 policy meeting, due out Wednesday. Investors and analysts will attemot to parse the minutes for clues about future action. At the meeting, the central bank opted to maintain the current short-term interest rate. Â"The minutes could shed light on the FedÂ's internal debate over the inflation outlook, which will be a key factor inÂ...

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Pacific Sunwear Expected to Enter Chapter 11

04/06/16

Teen retailer Pacific Sunwear of California Inc. is likely to file for chapter 11 bankruptcy by the end of April. The Wall Street Journal has the Daily Bankruptcy Review article here.

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Renewable Energy Solar Company Abengoa Files for Bankruptcy

04/05/16

The Spanish renewable energy solar company giant, Abengoa SA and its American affiliates, have filed for bankruptcy protection before the U.S. Bankruptcy Court for the District of Delaware.  The Spanish energy company continues talks with its banks and bondholders to agree on its plan to restructure billions of dollars in debt.

Background

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The Loany for the Loony: Looniest Consumer Finance Argument of the Year

04/05/16

There are lots of silly or unsupported arguments made about consumer finance; too often commentators rely on their priors and read evidence through the light of their priors (here too).

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