Bankruptcy Blogs

Florida Gambling Ship Files For Bankruptcy

11/10/14

Florida’s Island Breeze Casino ship has filed for bankruptcy with the hope of someday returning to sea.

Ship officials on Thursday put the 600-passenger vessel into bankruptcy after halting daily excursions from Palm Beach and laying off nearly all of its 250 employees, according to documents filed in U.S. Bankruptcy Court in West Palm Beach, Fla.

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How Banks Can Find Opportunity in a Flood of Regulations

11/10/14

Well-managed banks have the opportunity to issue shares and strengthen their capital base before new requirements take effect and the markets adjust to a low-risk environment.

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The Daily Docket: Drug Maker Dendreon Files for Bankruptcy

11/10/14

Dendreon Corp. filed for Chapter 11 bankruptcy protection Monday after coming to terms with senior lenders on a restructuring that could mean a reorganization or a sale of its cancer drug operation. Read the Daily Bankruptcy Review story in The Wall Street Journal.

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Morning Scan: FSB Proposes Capital Rules; AG Pick Has History with Big Banks

11/10/14

Receiving Wide Coverage ...

Beating Back Bailouts: The Financial Stability Board has taken a fresh stab at ending too big to fail with a newly proposed set of rules for the world's largest banks. Banks would be obliged to hold capital equal to 16-20% of their risk-weighted assets and to meet a capital leverage ratio twice the size of the Basel III requirement under the proposal. The New York Times notes the rules would have a...

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IPC International: Transfer of Venue Granted in Adversary Proceeding

11/08/14

Any defendant to a bankruptcy adversary proceeding seeking to transfer venue of their case should read the recent opinion dated November 3, 2014, in which the Honorable Mary F. Walrath granted Defendant’s motion to transfer venue in the case styled as:

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Fifth Circuit's Bankruptcy Opinions from October 2014

11/07/14
It's been a slow month in the Fifth Circuit, my home Circuit with just two bankruptcy-related opinions.   This month's cases involve a non-filing spouse who lost her homestead interest and a bank which provided "reasonably equivalent" value but not enough to constitute a complete defense to a fraudulent transfer claim.
Homestead Exemption; Takings Claim by Non-Filing Spouse
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Detroit, Bond Insurer Reached Haircut Deal Over Haircuts

11/07/14
Jones Day lawyers David Heiman (front left) and Heather Lennox leave court at the start of Detroit’s bankruptcy case in July 2013.
Bill Pugliano/Getty Images

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Forward Motions: Natrol Set to Auction Its Assets

11/07/14

Next Monday at a law office in Wilmington, Del., vitamin maker Natrol Inc. will auction itself off. ICV Partners is offering approximately $90 million for Natrol, but other bidders can top that at the auction.

The California company filed for Chapter 11 bankruptcy protection in June, due to a dispute with lender Cerberus Business Finance LLC. The buyout firm had criticized the company’s management. Natrol lawyers said they “strongly disputed” the lender’s claims of mismanagement.

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