Bankruptcy Blogs

Morning Scan: Reform Bill Targets Federal Reserve; Gruenberg Talks TBTF

05/12/15

Wall Street Journal

The paper provides additional details on expected proposed changes to the Federal Reserve that could be included in the regulatory-reform bill forthcoming from Sen. Richard Shelby. A look at all of the various expected aspects of Shelby's bill was reported in detail in American Banker. According to the Wall Street Journal, Shelby's bill could require the Federal Reserve's Federal Open Market Committee to send to Congress "more details of the analysis and data...

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Court Reiterates that Debtor’s Setoff Rights Trump those of Claimant

05/11/15

In the bankruptcy case of ADI Liquidation, Inc. (f/k/a AWI Delaware, Inc.), Bankr. No. 14-12092 (KJC), the Court considered a motion by creditor Western Family Foods, Inc.

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The Examiners: Student Debt Could Be Next Bubble, But Shouldn’t be Addressed by Bankruptcy Reform

05/11/15

Should the bankruptcy code be amended to make it easier for borrowers to seek forgiveness of student loan debt through a bankruptcy filing?

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Bankruptcy and Student Loan Debt

05/11/15

My thoughts on whether the Bankruptcy Code should be amended to allow easier discharge of student loan debt are upon The Examiners at the Wall St. Journal. Short of it is yes for private student loans, no for public student loans.

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CFPB Mortgage Changes Would Boost American Homeownership

05/11/15

Most banks appear to be coping well with the CFPB's ability-to-repay rule for mortgages, but the burden is falling harder on community banks. A new proposal that would allow more small lenders to grant home loans to borrowers with high levels of debt could help.

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Fresh Produce Buyer Plans to Save More Than Half of Stores

05/11/15

The Fresh Produce retail chain, which sells colorful, roomy women’s clothing that one can classify as “tourist wear,” has found a buyer who promised to keep more than half of its 27 stores alive.

In court papers, Fresh Produce officials said that an entity called Blue Stripe LLC is preparing to buy all but 12 stores out of bankruptcy protection.

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The Examiners: Student Loan Debate is More Complex Than Bankruptcy Question

05/11/15

Should the bankruptcy code be amended to make it easier for borrowers to seek forgiveness of student loan debt through a bankruptcy filing?

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The Examiners: Discharge Private Student Loans, But Federal Loans Have Safety Net

05/11/15

Should the bankruptcy code be amended to make it easier for borrowers to seek forgiveness of student loan debt through a bankruptcy filing?

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Why Investors Should Start Their Own Ratings Agencies

05/11/15

Investor-owned ratings agencies would send a message to mutual fund shareholders, retirement plan participants and other investors that steps have been taken to avoid repeating the inaccurate ratings that contributed so heavily to the financial crisis.

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Cravath’s Levin to Join Jenner & Block

05/11/15

Richard Levin, who founded Cravath, Swaine & Moore LLP’s restructuring practice eight years ago, is changing firms as he approaches the firm’s retirement age.

Mr. Levin, 64, plans to join Chicago’s Jenner & Block next week to help build the firm’s two-partner New York restructuring practice, focused on representing creditors, debtors and trustees in bankruptcies and debt restructurings. Cravath enforces a retirement age of 65.

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