Bankruptcy Blogs

How to Bring Market Discipline Back to Banking

07/23/15

Regulators and lawmakers are wrong to focus on bank size as a measure of risk. A far better indicator of bank stability is the riskiness of a bank's assets, as well as which of the bank's sources of funding bear that risk.

[more]

Ripple's Overlooked Path to Decentralization

07/23/15

Connecting disparate payment platforms is the Holy Grail of cryptocurrencies. The path to building such a system is not always clear, but must start at the core of the protocol.

[more]

Morning Scan: Moynihan Shuffles B of A's Management Ranks; N.Y. Regulator Queries Banks

07/23/15

Receiving Wide Coverage ...

B of A Deck Shuffling: Brian Moynihan is playing musical chairs again. Bank of America's chief executive made a number of personnel moves late Wednesday, including the dismissal, or resignation, of Chief Financial Officer Bruce Thompson; details of all the moves are outlined in American Banker. The Wall Street Journal and the New York Times both speculate the executive shuffling was a response to regulators chastising the firm's leadership for mistakes on...

[more]

Bankruptcy Judge’s Ruling Sends Caesars Shares Plunging

07/23/15
Caesars Entertainment Corp.’s Caesars Palace casino stands in Las Vegas.
Jacob Kepler/Bloomberg News

A bankruptcy judge refused to grant

[more]

Trump Entertainment – Automatic Stay v. Norris-LaGuardia Act

07/22/15

In a 23 page opinion released July 21, 2015 in the Trump Entertainment Resorts case (Bank. D. Del. 14-12103), Judge Kevin Gross of the Delaware Bankruptcy Court opined upon the interaction of the Bankruptcy Code’s automatic stay and the Norris-LaGuardia Act (“NLA”).  Judge Gross’ opinion is available here (the “Opinion”).

[more]

Dodd-Frank's Constitutionality

07/22/15

I'm testifying tomorrow before Senate Judiciary Committee's Subcommittee on The Constitution (yes, that's the official capitalization), about the constitutionality of the Dodd-Frank Act.  

Short version: nothing to see here folks.

Slightly longer version: really nothing to see here.

[more]

50 Cent Discloses Ownership in Adult Film Producer, Headphone Ventures

07/22/15
Rapper 50 Cent, whose real name is Curtis James Jackson III, exited New York State Supreme Court in Manhattan on Tuesday after testifying in a lawsuit for a sex tape that was posted online.
[more]

G Street Fabrics Files for Bankruptcy Sew It Can Survive

07/22/15

G Street Fabrics, an icon from downtown Washington, D.C.,’s department-store era that later fled to the suburbs, is planning to trim its store count using bankruptcy protection.

The retailer, which filed for bankruptcy in June blaming slow sales of its fabrics, will keep open its flagship store in Rockville, Md.—its busiest location. But officials are preparing to close its two other locations in Centreville and Falls Church by Labor Day weekend.

[more]