Bankruptcy Blogs

Drilling rig operator Paragon Offshore PLC filed for bankruptcy protection Sunday with a turnaround plan in hand. The Wall Street Journal has the Daily Bankruptcy Review article here. The company, under stress from low oil prices, is looking to reduce its debt by $1.1 billion.

Zloop Inc., a North Carolina recycler, was having a rough 2014. It needed cash, and an investor was suing the company and Chief Executive Robert Boston for overpromising on revenue expectations.

So maybe the company shouldn’t have spent heavily on the stock-car racing career of Mr. Boston’s son, a bankruptcy-court watchdog said. In the 20 months before filing for bankruptcy, Zloop spent roughly $1.7 million for a Kyle Busch Motorsports racing-sponsorship deal that made Mr. Boston’s son, Justin, the lead driver.

Community bank executives need to focus on these three areas in order to embrace change and cater to younger, tech-savvy customers.

Arizona power-plant operator Sundevil Holdings Inc. filed for chapter 11 Tuesday after defaulting on more than $237 million in debt. Read the Daily Bankruptcy Review article here.

To curb the loss of female talent, one Wall Street firm plans to remedy the pay gap. Islamic finance is notoriously male-dominated, but one country is an exception. Australia's ANZ Bank is inspiring a lot of soul-searching on sexism in the financial services industry. Would things improve with SEC reporting on diversity? Or do we need quotas?