Bankruptcy Blogs

Women in Banking: Mooney's Power Move; Virgin Money's Gender Equity Push

11/05/15

KeyCorpÂ's biggest deal since Beth Mooney became CEO would make it the 13th largest U.S. commercial bank if approved, and a proposal from Virgin Money's Jayne-Anne Gadhia could prompt the U.K. to peg bank exec bonuses to gender diversity. Also: Barclays' Barbara Byrne, KKR's Suzanne Donohoe and JPM's Eileen Serra.

[more]

Coming and Going Concerns

11/05/15

Paul E. Harner has joined law firm Ballard Spahr as a partner with the restructuring practice. Mr.

[more]

Banks Have Huge Stake in Outcome of Puerto Rico Crisis

11/05/15

Financial institutions that hold government debt would be severely affected if Puerto Rico is allowed to restructure its constitutionally-backed debt.

[more]

Empowering Women in Financial Services Should Be a Goal for Men, Too

11/05/15

Having an inclusive workplace is key to attracting and retaining an important employee segment: female millennials.

[more]

Morning Scan: Yellen Says Banks Must Improve Risk Management; Banks Crack Down on PFM Site Access

11/05/15

Receiving Wide Coverage ...

Yellen Speaks: Risk management still leaves something to be desired at the largest banks, Fed Chair Janet Yellen said during a congressional hearing on Wednesday. "While we have seen some evidence of improved risk management, internal controls, and governance … compliance breakdowns in recent years have undermined confidence," Yellen testified before the House Financial Services Committee. ...

[more]

Tribune Pledges Funding for Freedom’s Bankruptcy

11/05/15
Section fronts of the Orange County Register.
[more]

Revstone Industries – Venue Transfer Granted for a Fraudulent Transfer Adversary Proceeding

11/04/15

On November 2, 2015, Judge Brendan L. Shannon walked a pair of litigants through the factors used in the Third Circuit to determine whether to grant a motion to transfer venue.  In the adversary proceeding Fred C. Caruso v. Fasig-Tipton Co. (In re: Revstone Industries), docketed as Adversary Case No. 14-50468, Judge Shannon issued a memorandum order (the “Opinion”) laying out, and walking the parties through, the twelve-factor test provided by the Third Circuit in Jumara v. State Farm Ins. Co., 55 F.3d 873 (3d Cir. 1995).

[more]

Bank De-Risking Hurts Charities and Increases Risk of Laundering

11/04/15

A lack of access to financial services, particularly the inability to transfer funds overseas, can prevent lifesaving work from being carried out and has touched the refugee crisis in Europe, where many aid groups are delivering assistance.

[more]

New York Is Losing Its Battle to Regulate Bitcoin

11/04/15

The number of startup companies opting out of the State of New York Â-- more than a dozen Â-- since the financial services department's BitLicense regulation was finalized is troublesome.

[more]

Morning Scan: Feds Looking into Treasury Auction Rigging, Commodities

11/04/15

Wall Street Journal

Prosecutors and regulators want to know if traders rigged auctions on government debt.

The Justice Department and the Commodity Futures Trading Commission have sent requests to banks that serve as primary dealers, seeking information about orders, trading and pricing in Treasury Department auctions.

"Authorities are looking into whether bank traders worked together to bolster their own profits by depressing prices at U.S. government debt auctions," the Journal said, citing unnamed sources. ...

[more]