Bankruptcy Blogs

Many preference defendants are not aware of the fact that if their pre-petition contract with the debtor is assumed or assigned in the course of the bankruptcy, then such assumption/assignment will generally serve as a bar to recovery for receipt of alleged preferential transfers.

A recap of the informed opinions (and the discussions they generated) on BankThink this week, including a critical look at the Fed's post-crisis monetary policies and a bid to make the funding community groups receive from banks more transparent.

Monday in White Plains, N.Y., Great Atlantic & Pacific Tea Co. will seek court permission to auction off 120 of its stores and close another 25.

The grocer, which filed for its second chapter 11 of the decade last month, is facing opposition to the sales and closures from landlords and the Pension Benefit Guaranty Corp., although most of the objections mention talks with A&P counsel and the probability that small changes will alleviate concerns.

Receiving Wide Coverage ...

O Canada: Canadian banks have a money-laundering problem, the Wall Street Journal reports. The country's regulator found 72 failures of anti-money laundering controls among banks between 2009 and 2014, according to the paper's review of a "heavily redacted" document that did not include the names of the banks or specifics about the issues. The paper notes Canada "has been facing growing pressure to step up efforts to fight money laundering." In other...