The Illinois Supreme Court issued its unanimous opinion this past Friday putting a stake through the heart of the legislature's latest attempt to evade its responsibility for woefully underfunding four of the state's five public pensions.
A federal lawmaker is proposing to ban bankruptcy trustees from trying to claw back tuition money from universities and, in some cases, college students themselves—a legal maneuver that
All banks must manage risk. But this needn't be their sole focus any more than a restaurateur's sole purpose should be to prevent contaminants from getting into food.
While we've made progress in regulating banks, it's also necessary to ask whether we are making the most of an opportunity to ensure that the financial industry serves the best interests of society.
Patriot Coal Corp. is in “active negotiations” with an unnamed strategic buyer, hoping for a deal to aid it out of bankruptcy. The Wall Street Journal has the Daily Bankruptcy Review article here.
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...
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.
