Bankruptcy Blogs

At Long Last, a Compromise on Dodd-Frank Reform

05/20/15

Critics of the regulatory relief bill proposed by Sen. Richard Shelby argue that will endanger the financial system and benefit big banks. But in fact, the changes offer sensible, nonpartisan fixes to some of the biggest problems with the Dodd-Frank Act.

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The Shelby Bill Is a Sensible Compromise on Dodd-Frank Reform

05/20/15

Critics of the regulatory relief bill proposed by Sen. Richard Shelby argue that will endanger the financial system and benefit big banks. But in fact, the changes offer sensible, nonpartisan fixes to some of the biggest problems with the Dodd-Frank Act.

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Small Banks Shouldn't Pay for Retailers' Mistakes

05/20/15

Let Target's settlement with MasterCard over the retailer's massive data breach serve as a reminder of the need for all participants in the payments system to play by the same set of rules.

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Judge Endorses $200 Million Trust Fund for Meningitis Victims

05/20/15

A bankruptcy judge has cleared the way for victims of tainted injections that caused a 2012 meningitis outbreak in the U.S. to begin receiving money from a $200 million trust fund created for their benefit. Read the Daily Bankruptcy Review article here.

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Morning Scan: UBS Fined for Rate-Rigging; Top Threats to Financial System

05/20/15

Receiving Wide Coverage ... UBS Pays Up: Immunity didn't quite work out for UBS. The Swiss lender has agreed to pay $545 million to settle investigations into the alleged manipulation of foreign-exchange and Libor rates. UBS had reached a nonprosecution agreement with the U.S. back in 2012 over its alleged role in the Libor scandal, but prosecutors scrapped the deal when the bank later became implicated in forex rigging. Now it will plead guilty to oneÂ...

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Supreme Court Rules Debtor Entitled to Funds Remaining Upon Conversion of Chapter 13 Case

05/19/15
Acknowledging that the statutory language "does not say expressly" what should happen, the Supreme Court nevertheless ruled that undistributed funds held by the Chapter 13 trustee should be returned to the debtor following a conversion.   The Court described its result as "the most sensible reading of what Congress did provide."   Justice Ginsberg wrote the opinion for an unanimous Court.   Harris v. Viegelahn, No. 14-400 (5/18/15).
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Judge Calls for Arrest of Girls Gone Wild Founder Joe Francis

05/19/15
In this Sept. 7, 2012, file photo, Joe Francis attends the House of Hype Music Awards at the Beverly Hills Hotel in Beverly Hills, Calif. A judge has called for Mr.
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Why Apple Watch Won't Be a Payments Game Changer

05/19/15

Although more than half of younger shoppers are already willing to use wearables to make in-store payments, we are still firmly in the age of the smartphone.

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Shelby's Bill Is the Right Way Forward on Financial Reform

05/19/15

It's a good idea to raise the asset threshold at which financial institutions are automatically designated as systemically important financial institutions. But Sen. Richard Shelby's proposed legislation for regulatory relief does require one crucial change.

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MF Global Investors Want Settlement Approval

05/19/15

MF Global Holdings Ltd. investors are seeking final approval of a $74 million settlement stemming from their lawsuit against several financial institutions. The Wall Street Journal has the Daily Bankruptcy Review article here.

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