Bankruptcy Blogs

Waiting for RUFO

12/11/14

It looks like much of December will be spent sitting around the RUFO sickbed, waiting for the clause to expire of natural causes on December 31. The clause, recall, prevents Argentina from "voluntarily" giving holdout creditors a better deal than the one given to restructuring participants. When the RUFO clause expires, we will see whether country officials viewed it as a serious barrier to negotiation or, rather, as a

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Medical Debts Sent to Collections Can Be a Nightmare

12/11/14

: Associated Press

People with unpaid medical bills are finding themselves in a “haphazard system” of debt collection, in which some consumers don’t realize they owe money or are still waiting for bills when their debt is sent to a collections agency, a U.S.

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The Daily Docket: Detroit Emerges From Bankruptcy

12/11/14

: Associated Press

Detroit’s Chapter 9 bankruptcy case officially ended Wednesday, a day after the city’s emergency manager resigned, The Wall Street Journal

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Bank Safety Goes Beyond Capital Standards

12/11/14

More robust risk management frameworks and technology infrastructures are at least as important as higher capital standards in preventing another global financial crisis.

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Morning Scan: Clashes Over Dodd-Frank Change in Budget Bill; Lending Club IPO

12/11/14

Receiving Wide Coverage ... Through the Back Door: Democrats are pushing back against the GOP's effort to repeal a Dodd-Frank derivatives rule by slipping the change into the government spending bill slated for a vote today. Analysis in the New York Times and Wall Street Journal suggests that getting rid of the rule would be a bad idea Â-- but not for the obvious reasons. The provision obliges banks to move a small percentage of derivativesÂ...

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For the Soul of the Party: the Budget Showdown and Financial Reform

12/10/14

Will we have an appropriations bill before a government shutdown? The fight over the 2015 Appropriations Bill is now focused on one of the non-appropriations measures stuck onto the bill by the House GOP. That provision would repeal section 716 of the Dodd-Frank Act, which prohibits bailouts of swap entities and pushes certain types of particularly risky swaps out of insured depositories. Section 716 might be thought of as the "Banks Aren't Casinos" provision of Dodd-Frank.

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Rothstein Creditors Set to Be Paid in Full

12/10/14

: In this July 27, 2009 photo, Scott Rothstein is shown in his former office.; Associated Press

Some of Ponzi scheme-operator Scott Rothstein’s law firm credi

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Marc Lore Buys Hukkster’s Remnants at Bankruptcy Auction

12/10/14

Diapers.com founder Marc Lore’s soon-to-be-launched shopping site, Jet, recently bought itself access to a bevy of prospective customers in a bankruptcy auction.

The fire sale of failed shopping website Hukkster’s customer lists, website code, and other remaining assets ended with Jet submitting a $65,000 winning bid.

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