Bankruptcy Blogs

Morning Scan: CFPB Oversight, Arbitration Rules; Pandit's Latest Fintech Venture

10/07/15

Receiving Wide Coverage ...

Pandit's Adventures in Fintech: Vikram Pandit has taken a stake in money transfer startup TransferWise. The ousted Citigroup executive has made a number of ventures in the fintech space since he left Citi in 2012, the Wall Street Journal says, including in marketplace lending startup Orchard Platform and student lending platform CommonBond. The exact value of his investment was not disclosed. TransferWise allows users to send and receive money at lower costs...

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American Apparel to Keep Manufacturing in U.S.

10/07/15

American Apparel Inc.’s turnaround plan includes keeping manufacturing operations inside the U.S., Daily Bankruptcy Review reports via The Wall Street Journal.

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Unredeemed Borders Gift Cards are Officially Worthless

10/06/15
Photo: JEFF KOWALSKY/BLOOMBERG NEWS

Any shoppers still holding on to Borders gift cards can finally toss them in the trash.

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Why Gender Quotas Won't Help Women in Banking

10/06/15

Women in banking and finance face plenty of obstacles in their efforts to ascend to senior positions. But quotas only serve to reinforce the assumption that women are less capable and talented than their male counterparts.

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Injured Concertgoer Fights for Damages in 50 Cent’s Bankruptcy

10/06/15
Elsa/Getty Images

A lawsuit that accused 50 Cent of unfairly bolstering his tough-guy image by starting a fight at a 2004 concert in Massachusetts has surfaced in his bankruptcy.

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Morning Scan: Fed Banks' Payouts; Cutting Coal Mining

10/06/15

Receiving Wide Coverage…

U.K. to Sell $3B Stake in Lloyds: The British government is planning to sell its stake in Lloyds Banking Group as it prepares to exit its ownership of the lender next spring. Proceeds of the sale will be used to pay down national debt, the Treasury has said. About $3 billion of shares are being offered to the general public at a 5% discount, and there will likely be a sale to institutional...

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Note to Payments Innovators: You Need a Value Proposition!

10/06/15

The past year has seen two notable innovations in the payments world and a third is coming down the pike.  ApplePay was rolled out last spring, the EMV liability shift went into effect on October 1, and the Fed has convened a task force on designing a faster payment system.  All three of these developments seem unlikely to result in major changes in payments unless they come up with a clear value proposition for consumers, merchants, or both. 

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Relativity Judge Poised to Confirm Sale

10/06/15

Relativity Media LL’s sale to investors including founder Ryan Kavanaugh seems poised for approval by a bankruptcy judge, Daily Bankruptcy Review reports via The Wall Street Journal.

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In re: Hipcricket Inc. Provides a Lesson on the Importance of Defined Terms

10/05/15

On September 29, 2015, Judge Laurie Selber Silverstein of the Delaware Bankruptcy Court ruled on the objection of a distribution trustee to payment of the bankruptcy debtor’s investment banker.  This opinion caught my eye as it is unusual for objections to fee applications to merit written opinions.  The “Opinion” is available here.

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Fintech (the Word, That Is) Evolves

10/05/15

The term has gone from a common brand name to a catch-all for innovative technologies in financial services to a somewhat patronizing plural noun to describe startups and their founders.

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