Bankruptcy Blogs

Shadow Banks Are Not a Source of Systemic Risk

03/21/16

Some believe the capital markets need prudential regulation to product the system from danger, but here's why that is a false assumption.

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Does the White House Stand for Consumer Protection or for Predatory Lending?

03/21/16

Does the Obama White House truly stand for consumer financial protection, or will it support Wall Street when it thinks no one is looking?  That's the question that the Supreme Court served up today.  The Supreme Court is considering whether to hear an appeal in a critical consumer protection case called Midland Funding v. Madden. This is one of the most important consumer financial protection case the Supreme Court has considered in years.

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Coming and Going Concerns

03/21/16

H. Stephen Castro has joined law firm Norton Rose Fulbright as a partner in the New York office. Mr. Castro, who most recently worked with Kaye Scholer, represents lenders, private-equity firms and others in distressed investing and restructuring situations. He has worked in industries including energy, mining and transportation.

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Blockchain Is Fintech's Real Game-Changer

03/21/16

While many fintech companies are trying to disrupt banking niches, the blockchain has the greatest potential to completely transform finance the way Uber and others have done for their industries.

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Morning Scan: Eyes on Loan Caps, Bonus Clawbacks, Coal

03/21/16

Wall Street Journal

Banks, including Credit Suisse, Jefferies and Wells Fargo, are losing their appetite for lending to companies seeking financing for debt-heavy buyouts. These firms have been rejecting these requests since about last summer. Earlier, banks would guarantee funding of these deals with hopes of handing it off to bond and loan investors; some have taken losses unloading debt at discounts, some hold the loans waiting for better prices. But now the banks are burdened...

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Sports Authority – Consignment Actions Have Begun

03/21/16

On March 15 and 16, 2016, the Debtors in the Sports Authority bankruptcy, Case No. 16-10527, filed approximately 161 adversary complaints against consignment vendors.  The purpose of these complaints is to determine the priority and validity of the consignment vendors’ claims of title and their claim to a security interest in the consigned goods.

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Freedom Communications to be Sold to Digital First

03/21/16
Digital First is set to buy the publisher of the Orange County Register, whose offices are pictured here in a 2012 photo.
Jae C.
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Coldwater Creek Inc. Preference Actions Filed

03/20/16

In the United States Bankruptcy Court for the District of Delaware, Peter Kravitz, as the Liquidating Trustee of the CWC Creditors Liquidating Trust, filed approximately 106 preference actions on March 15, 2016 seeking the avoidance and recovery of allegedly preferential and fraudulent transfers under Sections 547, 548 and 550 of the Bankruptcy Code, along with the disallowance of claims under Section 502(d) and (j).

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Simplexity, LLC Preference Actions Filed

03/20/16

On March 14, 2016, Charles A. Stanziale, Jr., as the Chapter 7 Trustee of Simplexity, LLC, et al. (the “Debtors”) filed approximately 44 preference complaints seeking to avoid and recover alleged preferential transfers pursuant to Sections 547 and 550 of the Bankruptcy Code, and to disallow claims of the defendants pursuant to Section 502(d).

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One Energy Industry Lifeline May Be Running Out of Steam

03/18/16

Energy companies that are struggling to avert bankruptcy have recently been relying on a tool to buy time called a distressed-debt exchange. For some of them, that tactic may not work for much longer.

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