Bankruptcy Blogs

Millennium Lab Holdings a/k/a RxAnte files a Prepack in Chapter 11

11/23/15

On November 10, 2015, Millennium Lab Holdings and 2 affiliates filed for relief under chapter 11 of the Bankruptcy Code.  The cases are jointly administered under Case Number 15-12284 and presided over by Judge Silverstein.  The first day hearing was held on November 12, 2015.  The second day hearing is scheduled for December 10, 2015 at 11:00 a.m.

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Affirmative Insurance Holdings, Inc. Section 341 Meeting Continued

11/23/15

The Affirmative Insurance Holdings, Inc. Section 341 meeting has been continued to December 14, 2015, at 1:00 p.m. at J. Caleb Boggs Federal Building, 844 King St., Room 2112, Wilmington, Delaware.  For a prior post on this bankruptcy proceeding, click here.

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Making the ABA Journal's Blawg 100

11/23/15

The ABA Journal has named Credit Slips to its annual Blawg 100. Thanks for the recognition! We really appreciate it. It is a list of great blogs, and we are honored to be included on it. And, thanks to our readers and commenters who help to make this little part of the Internet a great community.

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Critics: New Bankruptcy Paperwork Will Cause Inaccurate Filings 

11/23/15

The paperwork that people and businesses have used to file for bankruptcy protection since the 1980s is being replaced on Dec. 1 with forms that have clearer, easier-to-understand instructions and that’s…bad?

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Lynn Tilton’s Patriarch Seeks Bankruptcy for Zohar Fund

11/23/15
Lynn Tilton speaks with her attorneys after a hearing at the U.S.
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You Say TLAC, I Say TBTF

11/23/15

The government's new proposal for operationalizing the wind-down powers of Dodd-Frank is just institutionalizing "too big to fail."

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Morning Scan: Diebold Confirms $1.8B Buyout Offer for German ATM Maker

11/23/15

Wall Street Journal

Diebold confirmed it's in merger talks with Germany's Wincor Nixdorf, under which Diebold would pay $1.8 billion in cash and stock in an acquisition. Diebold will launch its tender offer early next year, with a breakdown of 80% cash and 20% stock. Diebold will raise $2.3 billion in senior secured and unsecured debt to finance the deal; it will also obtain a $500 million revolving credit facility. The combination would surpass NCR as...

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The Future of Bankruptcy Work for Lawyers

11/20/15

As expected, as the number of consumers filing bankruptcy has continued to decrease, the revenue of the consumer bankruptcy debtor and creditor bar has been hit hard. Over the past several years billable hours of business bankruptcy (including insolvency, workout or reorganization) lawyers have been dropping and many mid-level partners at large firms are looking for work in related or unrelated specialties. 

We would expect consumer bankruptcy work to increase when:

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The Examiners: Transparency is Everything in Bankruptcy

11/20/15

When it comes to pre-bankruptcy insider pay, how much disclosure is enough?

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