Bankruptcy Blogs

Receiving Wide Coverage ...

Santander Feels the Heat: The Federal Reserve has issued a sweeping enforcement action against Banco Santander's U.S. holding company, ordering it to improveÂ--well, a whole lot of stuff. Regulators identified Santander's capital management, corporate governance, and ability to meet daily funding needs as areas in need of remediation, along with risk management at its consumer lending unit. No fine is attached to the action yet, but the Fed could add one later....

Case No. 15-20107; Esco Marine, Inc.; Southern District of Texas, Corpus Christi Division

Bidding Procedures Order:   Dkt. #260; 6/26/15

Assets to be Sold:    Assets of Debtors other than Chapter 5 causes of action, claims against insiders, unscheduled or undisclosed assets, cash

Minimum Bid:    Amount of third party liens against property

Bid Deadline:    July 20, 2015 (extended from initial date of July 17, 2015)

The Supreme Court's recent ruling that the disparate impact theory of liability can be applied to the Fair Housing Act means mortgage lenders must be even more vigilant in their ongoing testing and evaluation of business practices that could be interpreted as even unintentional discrimination.

Receiving Wide Coverage ...

Envisioning the End: Twelve big banks have published details of their revised living wills, which attempt to demonstrate to regulators that they could fail without throwing the financial system into a tailspin. For banks, the months-long review period of their updated proposals may be a nail-biter: regulators already deemed most plans unrealistic last year. If the Federal Reserve and Federal Deposit Insurance Corp. aren't convinced by their new strategies, banks could face...

Nortel Networks Corp .’s bondholders