Bankruptcy Blogs

Swaps Settlement Ahead: Twelve big banks plan to pay $1.9 billion to settle charges that they conspired to control the credit default swaps market during the run-up to the financial crisis, according to the papers. The New York Times maintains an air of mystery about the details of the pending settlement, opting not to name the banks involved. But the Los Angeles Times names names including Bank of America, JPMorgan Chase and Citigroup and the FinancialÂ...

Very often in the course of a bankruptcy proceeding, a creditor with a pending lawsuit against the debtor will need to obtain relief from the automatic stay in order to continue to prosecute the pre-petition litigation.   For example, personal injury claimants who seek to recover solely against an insurance policy of a debtor may obtain relief from the automatic stay in certain circumstances.  Such claimants will need to file a motion with the Delaware Bankruptcy Court to obtain relief from the stay in order to pursue their claim to a final judgment.

A recap of the informed opinions (and the discussions they generated) on BankThink this week, including banks' subpar shareholder value and how big-data advocates can better communicate with critics who worry about the technology's potential discriminatory effects.

Wednesday in Wilmington, Del., the corporate shell of what was once RadioShack will ask a judge to approve its plan to pay back creditors.

Receiving Wide Coverage ...

Keep On Truckin': General Electric will earn a pretty penny from the sale of its U.S. transportation finance business. Bank of Montreal's purchase price for the Irving, Texas-based GE unit will be based on the net earning assets balance at the deal's closing, plus a premium, according to Canada's Financial Post. All told, the price will be about $13 billion. Those terms were disclosed during a Thursday afternoon conference call with analysts....