Bankruptcy Blogs

New Scottish Law Allows a BRO from a BADAS(S)

01/07/15
The new Scottish bankruptcy law which will take effect in April contains some great acronyms, including BADAS and BRO.    Unfortunately, the Bankruptcy and Debt Advice (Scotland) Act 2014 ("BADAS") is missing the second "s" which would make it a truly badass law.   From my brief review of an article by Rob Aberdein, the new Scottish law is a hybrid of Chapters 7 and  13 under BAPCPA.   However, it seems to
[more]

The Daily Docket: Financial Institution Settles MF Global Suit

01/07/15

A group of well-known financial institutions settled a lawsuit brought by former MF Global Holdings Ltd. investors for $74 million. The Wall Street Journal has the Daily Bankruptcy Review article here.

[more]

Creating a Bank that's Both Cool and Fair

01/07/15

The ideal digital bank would respect customers' privacy and relate to them as human beings while offering an array of simple, easy-to-use mobile and online apps.

[more]

Morning Scan: Fed's Community Banker Nomination; Bitcoin Exchange Problems

01/07/15

Receiving Wide Coverage ...

Fed Personnel: Bankers applauded President Obama's nomination of former Bank of Hawaii CEO Allan Landon to the Federal Reserve's Board of Governors. Former American Bankers Association CEO Edward Yingling said Landon's nomination has an "excellent" chance to be confirmed by the Senate, because a large number of lawmakers support having a community banker on the Fed board. Republicans, although they now control the Senate and would normally be hostile to an Obama...

[more]

Banking Needs George Baileys for the Digital Age

01/06/15

Technology companies are wooing customers away from traditional financial institutions. If banks want to address this threat, they need to rethink their business models and stop chasing profits at all costs.

[more]

In Bankruptcy With a $19,000 Monthly Rent

01/06/15
A view of sign outside of the offices of the law firm Dewey & LeBoeuf in New York, N.Y., in May 2012
European Pressphoto Agency

The 2012 collapse of the

[more]

The Daily Docket: Judge Approves Revel Sale

01/06/15
Associated Press

A bankruptcy judge on Monday approved the sale of Atlantic City, N.J.’s Revel Casino Hotel to Florida real-estate developer Glenn Straub for $95.4 million, after Mr.

[more]

Risk Trends to Watch for in 2015

01/06/15

This may be the year that banks finally adapt to the new risk landscape by shaking up their boards, bolstering cybersecurity and increasing vendor management.

[more]

Morning Scan: Morgan Stanley Adviser Fired for Data Leak; Community Banker on Fed Board?

01/06/15

Receiving Wide Coverage ...

Morgan Stanley Client Data: Morgan Stanley fired Galen Marsh, a 30-year-old wealth-management adviser, after he stole data from about 350,000 accounts and tried to sell the data online, anonymous sources told the Wall Street Journal, New York Times and Financial Times. Marsh's attorney said his client did obtain the account information but he didn't post it online and didn't try to sell it. Morgan Stanley has referred the matter to law enforcement....

[more]

Wiley Rein Bankruptcy Team Lands at Nelson Mullins

01/05/15

Three Washington, D.C.-area bankruptcy attorneys have moved their practices to Nelson Mullins Riley & Scarborough LLP two months after news broke that their former firm, Wiley Rein LLP, no longer wanted to support a bankruptcy team.

[more]