Bankruptcy Blogs

Counseling Help for Distressed Student Loan Borrowers?

01/12/16

As always, it has been very enjoyable to be a guest here. Three thoughts until next time.

1. At least two major organizations are about to join or have recently stepped into the effort to provide help to distressed student loan borrowers. National Foundation for Credit Counseling is launching an effort that was piloted by several of their larger members. Also,Neighborworks is launching an effort. We need high quality counseling for these borrowers, but the counseling programs face many challenges including the following

[more]

Forget Fintech Originators, the 'Enablers' Are Here

01/12/16

Many emerging innovators want to incorporate digital advances into the incumbent financial services sphere, not necessarily leapfrog banks.

[more]

Why Recent Bank Guilty Pleas Just Aren't Enough

01/12/16

Convictions of big banks have lacked any tangible consequences for perpetrators, leaving many still doubting that the government is serious about prosecuting large firms.

[more]

Morning Scan: Lenders Spurn FICO; Sanders Botches Glass-Steagall Defense

01/12/16

Wall Street Journal

Has the presence of institutional investors caused this country's biggest banks to act as if they were a big monopoly? That's the question a group of economists asked in a paper. The scholars found banks will make their customers pay more in fees and offer less in interest on deposit certificates when institutional investors invest in competing banks. Consequently, the presence of the same investor from company to company can begin to make...

[more]

Gun Maker Colt Comes Closer to Leaving Bankruptcy

01/12/16

Colt Defense LLC is closer to leaving bankruptcy protection after making changes to its chapter 11 plan that account for a smaller equity commitment from its private-equity owner, Sciens Capital Management. The Wall Street Journal has the Daily Bankruptcy Review article here.

[more]

Professional Fee Issues in Tropicana Entertainment

01/11/16

In a 10 page opinion released January 5, 2016 in the Tropicana Entertainment bankruptcy (Bank. D. Del. 08-10856), Judge Carey of the Delaware Bankruptcy Court provided  a critical opinion concerning the handling of a dispute arising from two debtors’ division of professional payments.  Judge Carey’s opinion is available here (the “Opinion”).

Background

[more]

Relativity Media Settles Dispute With Sony Over ‘The Bronze’

01/11/16
Melissa Rauch, star of “The Bronze,” poses during the 2015 Sundance Film Festival on Jan. 22, 2015, in Park City, Utah.
[more]

Bowie's Name Was a Signal of Banking Innovation

01/11/16

David Bowie was a legend in the music industry, but his name was also a presence in financial services, where his identity was synonymous with innovation.

[more]

Capsule International Holdings Preference Actions UPDATE

01/11/16

By way of update to the Capsule International Holdings preference action filings (see original post here), the Official Committee of Unsecured Creditors (the “Committee”) recently filed a Motion for Authority to Settle Classes of Preference Claim Controversies Pursuant to Bankruptcy Rule 9019(b) and to Modify Compromise Procedures (the “Motion”).

[more]

An Improved Legacy System Is Still a Legacy System

01/11/16

Implementing discrete changes to a core system to compete with disruptors is merely dressing up an arsenal that really should be replaced or overhauled.

[more]