Bankruptcy Blogs

What’s Behind Bankruptcy Lawsuits Over College Tuition?

05/06/15

Bankruptcy trustees are suing universities—and sometimes, college students themselves—to take back tuition that had been paid years before as part of an aggressive and growing legal tactic.

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Do Visa and MasterCard Have a Chance in China?

05/06/15

China's government plans to allow foreign card-payment networks to process domestic transactions. But companies like Visa and MasterCard will have a tough time capturing a percentage of China's explosive payments market.

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How Community Banks Can Seize Opportunity in the Mortgage Market

05/06/15

To survive and thrive, community banks must follow the lead of nonbank mortgage lenders by embracing digital technology and customer convenience.

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Magnetation Files for Bankruptcy After Reaching Deal With Bondholders

05/06/15

Magnetation LLC, a Minnesota mining company, filed for chapter 11 bankruptcy protection Tuesday after reaching a restructuring deal with senior bondholders owed $425 million. The Wall Street Journal has the Daily Bankruptcy Review article here.

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Morning Scan: Ripple Labs Fined for AML Issues; HSBC Weighs Escape from London

05/06/15

Receiving Wide Coverage ...

Ripple Hits a Bump: Digital currency startup Ripple Labs touts a focus on compliance as one of its distinguishing traits, which makes it surprising the company has just become the first virtual currency exchange to be slapped with a civil action. Ripple Labs has agreed to pay $700,000 and improve its anti-money laundering program as part of a settlement with the Financial Crimes Enforcement Network and the Department of Justice. U.S. authorities...

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Corinthian Colleges, Inc. – Warn Class Action Lawsuit Filed

05/05/15

On May 5, 2015, Outten & Golden LLP and Loizides, P.A. filed a class action adversary proceeding complaint for violation of the WARN Act in the Corinthian Colleges bankruptcy.  The Corinthian Colleges bankruptcy is case number 15-10952 and this adversary proceeding is number 15-50309.

The Delaware Bankruptcy Court has previously published opinions concerning the WARN Act, as can be seen in our prior posts:

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Super Bowl Ticket Seller, Stung by Shortage, Files for Bankruptcy

05/05/15
Yoav Shapira and Lisa Redpenning, both from Boston, display their tickets for Super Bowl XLIX bought at the NFL ticket exchange Jan.
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CFPB Must Prioritize People Over Payday Lenders

05/05/15

There will always be a need for small-dollar loans. But loans that trap people in debt and burden borrowers with triple-digit interest rates are simply abusive.

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Bankers, Be Wary of Outdated Stereotypes

05/05/15

Bankers give too much credence to futurists and financial gurus who warn that technology will render the in-branch experience obsolete.

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