Bankruptcy Blogs

DE Bankruptcy Court Denies Canadian Employees’ Motion to File Late Proof of Claim in Nortel

05/27/15

In the case of In re Nortel Networks, Inc. et al., Case No. 09-10138 (KG) (Del. Bankr. Ct. May 21, 2015), Judge Gross considered a motion filed by the “Ad Hoc Committee of Canadian Employees Terminated Pre-Petition” seeking leave to file proofs of claim after the expiration of the Bar Date applicable to Nortel’s U.S. Debtors.

Background

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Cracking the Glass Ceiling: Advice for Women in Banking

05/27/15

Women in banking are making big strides Â-- but there's still a long way to go before achieving gender parity at the executive level. Here's how up-and-comers can carve out a path to the top.

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Small-Business Loan Brokers Need a Code of Ethics

05/27/15

The explosive growth of largely unregulated online lenders has given them new opportunities to prey on unsuspecting borrowers.

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Supreme Court Gives Bankruptcy Judges Power to Make Final Decisions

05/27/15
Joshua Roberts/Reuters

The U.S. Supreme Court on Tuesday said bankruptcy judges have the power to make final judgments in certain legal disputes—a decision that bolsters the power of U.S.

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Morning Scan: IRS Admits Crooks Steal Customer Info; Libor 'Ringmaster' Goes on Trial

05/27/15

Receiving Wide Coverage ...

Cracking the Tax Code: The taxman is the latest victim of identity theft. The Internal Revenue Service said hackers stole tax-return information for about 100,000 U.S. households, including Social Security numbers. The thieves used the IRS's own online services to penetrate its databases, cracking the code of multistep authentication processes. Interestingly, the IRS commissioner, John Koskinen, said the incident was "not a hack or data breach. These are imposters pretending to be...

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Wellness Case Brings Healing for Bankruptcy Court Authority

05/26/15
Resolving an issue left open by two prior decisions, the Supreme Court ruled that the right to entry of a final judgment by an Article III court, like the right to trial by jury, is a personal right which can be waived or consented away.    The decision left Chief Justice Roberts, whose broad language in Stern v. Marshall spawned a plethora law review articles, in the minority, while Justice Sotomayor spoke for the six justices in the majority.
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The Best Big-Bank Resolution Plan: Avoid Crises in the First Place

05/26/15

By ensuring that all big-bank investors receive equal treatment in bankruptcy and looking for other ways to prevent short-term liquidity problems from becoming major financial crises, Congress can avoid the need to test the FDICÂ's ability to resolve large financial institutions.

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Gallup Diocese Seeking to Sell Land to Pay Victims

05/26/15

The Roman Catholic Diocese of Gallup, N.M., which stretches across 55,000 square miles of northern Arizona and New Mexico, is seeking to sell 55 parcels of mostly vacant desert land to help fund a settlement with about 60 alleged victims of clergy sexual abuse.

In court papers filed last week, the diocese asked U.S. Bankruptcy Court Judge David Thuma for permission to hire two real-estate brokers and to move forward with an auction process for the properties.

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Where Banks Need to Focus If They Want to Outperform

05/26/15

The best-performing banks are those that continue to invest in growth, rather than those that fixate on containing expenses, writes Capital Performance Group's Kevin Halsey.

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Morning Scan: Tributes to Game Theory Pioneer John Nash; Bank Stocks to Rise?

05/26/15

Receiving Wide Coverage ... A Beautiful Mind: Tributes to John Nash were plentiful after the mathematician made famous by his depiction in the film "A Beautiful Mind" was killed in an taxi accident this weekend. Nash's doctoral thesis placed game theory, the study of strategic interactions, at the heart of economics, the Financial Times said. After Nash's insights, "economists stopped thinking exclusively about unrealistic models of perfectly competitive markets and began focusing on cases in whichÂ...

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