Bankruptcy Blogs

Uniform Recordkeeping Can Nip Banks' Misdeeds in the Bud

04/29/15

Regulators can avoid extensive, after-the-fact investigations of banks' illegal actions by standardizing the form and content of transaction data so they can spot compliance problems in real time.

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Oncor Sale May Offer a Way Out for Former TXU

04/29/15
A stream of workers leave the TXU Monticello Steam Electric Station power plant near Mount Pleasant, Texas, on February 26, 2007.
Reuters

A year into one

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Morning Scan: Banks Anti-Activist Loan Provisions Challenged; Staff Needed at Ginnie Mae

04/29/15

Wall Street Journal

Activist investors have brought about another change to how banks to business. Banks have increasingly pushed for provisions in loan agreements to require corporate borrowers to repay a loan in full if a majority of directors are ousted by activists. Banks are ultimately worried that if an activist seizes control of a board, it might force the company to pursue debt-fueled stock buybacks, which would erode the company's credit rating. However, lawsuits are...

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RadioShack to Auction Customer Data

04/29/15

Recently in the RadioShack Corp. case, the Delaware Bankruptcy Court granted the debtor’s bid procedures motion allowing the debtor to auction certain of its assets, including trademarks and collection of customer data, while directing RadioShack to provide more information in terms of what personal information has been collected by the company and is to be sold.  The Texas Attorney General, among others, made requests that further information be disclosed in order for the Bankruptcy Court to determine whether certain information should be sold at auction.

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Three Traits That Power Banks' Best Employees

04/28/15

Banks should place a premium on employees who hold themselves to high standards, care about a greater cause and understand their roleÂ's relationship with the broader organization.

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Frederick’s of Hollywood Formation Meeting and Section 341 Meeting Scheduled

04/28/15

In the Frederick’s of Hollywood bankruptcy proceeding, a formation meeting has been scheduled for Wednesday, April 28, 2015 at 10:00 a.m. (ET) at the J. Caleb Boggs Federal Building, 844 King St., Room 5209, Wilmington, DE 19801.  Click Here for a copy of the Notice of Formation Meeting for Official Committee of Unsecured Creditors issued by the Office of the United States Trustee.  If you want to be considered for Committee membership, you MUST complete a questionnaire and return it to the U.S.

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Debt Collectors Need CFPB's Kick in the Pants

04/28/15

The CFPB is purging the dark corners of debt collection and buying. It's a revolution that's been a long time coming.

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Endeavour International Looks to Ward Off Lawsuit

04/28/15

Oil and gas developer Endeavour International Corp. is attempting to swat away accusations from unsecured creditors seeking to sue over allegedly improper prebankruptcy financial maneuvers. Read the Daily Bankruptcy Review article here.

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Morning Scan: Ace Cash Express Hit by Rioters; B of A Probed for Trades

04/28/15

Receiving Wide Coverage ...

Riots in Baltimore: Most media outlets have coverage of the rioting in Baltimore, with at least 15 police officers injured and numerous businesses destroyed or looted, including a branch of Ace Cash Express, following Monday's funeral of Freddie Gray. Officials declared a state of emergency. Protesting the police force's alleged excessive force against the city's minority community, rioters burned and looted a CVS pharmacy and other buildings in the Mondawmin neighborhood. Additionally,...

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Could Any Other Business Do This and Still Survive?

04/27/15

For all their talk, banks are still sorely lacking when it comes to creating a great user experience in their digital channels, as this unhappy customer can attest.

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