Bankruptcy Blogs

Appellate Court: Unredeemed Borders Gift Cards Are Still Worthless

10/31/14
Approximately 100 shoppers lined up outside the Borders store in Brea, Calif., to take advantage of going out of business sale prices on July 24, 2011.
Associated Press
[more]

The Daily Docket: Judge Approves Stockton Bankruptcy Plan

10/31/14
Gosia Wozniacka

The federal judge overseeing the two-year-long bankruptcy of Stockton, Calif., ruled Thursday that the distressed city can exit court protection without deeper cuts to its pension obligations.

[more]

Morning Scan: Citi Adds $600M for Legal Costs; BofA Faces Shareholder Wrath

10/31/14

Receiving Wide Coverage ...

Coming Down the Pike: Citigroup's move to increase its third-quarter legal provisions by an additional $600 million suggests the bank may soon reach a settlement over charges that it manipulated foreign-exchange rates, the papers report. The adjustment, made in response to "very recent communications with certain regulatory agencies" according to the bank's regulatory filing, lowered Citigroup's quarterly earnings by nearly 18%, to $2.84 billion. The Wall Street Journal's anonymice say Citi and...

[more]

A Filing Means What It Says

10/30/14

Almost two weeks ago now, the Delaware Supreme Court handed down its decision over J.P. Morgan's mistaken termination statement in the General Motors bankruptcy.

[more]

Coming and Going Concerns

10/30/14

Joost Geginat has joined AlixPartners as a managing director and will help build the consulting firm’s turnaround and restructuring presence in Switzerland. Mr. Geginat, who will be based in Zurich, most recently worked as a managing partner of the Southeast Asia office of Roland Berger Strategy Consultants.

[more]

Why Self-Promotion Can Help Close the Gender Pay Gap

10/30/14

If we hope to achieve pay equality and see more women in leadership positions, women need to ask for what they believe they deserve, and companies must change ingrained attitudes toward those who do so.

[more]

Trump Entertainment – A Debtor’s Rejection of a Bargaining Agreement

10/30/14

In a 28 page opinion released October 20, 2014 in the Trump Entertainment Resorts case (Bank. D. Del. 14-12103), Judge Kevin Gross of the Delaware Bankruptcy Court provided a thorough analysis of the ability of a debtor to reject a collective bargaining agreement pursuant to 11 U.S.C § 1113.  Judge Gross’s opinion is available here (the “Opinion”).

[more]

Banks' New Merger Strategy: Becoming TBTF

10/30/14

Expect more regional banks to pursue deals that put them over the $50 billion-asset threshold in an effort to reap the benefits of implicit government subsidies.

[more]

The Daily Docket: Wyly Lawyers Seek Approval for Art Sale

10/30/14
In this May 6 file photo, Texas entrepreneur Sam Wyly arrives to U.S.
[more]

Morning Scan: What the End of QE Means for Banks; CurrentC Hacked

10/30/14

Receiving Wide Coverage ...

Que Sera, QE: The Federal Reserve's bond-purchasing program is officially over, but that's no reason to stop the fun of debating the legacy of quantitative easing. The major papers all give the program mixed reviews. "While it clearly didn't cause the inflation outbreak some predicted, it also didn't clearly lead to a surge of economic output or hiring," the Wall Street Journal reports. The New York Times says QE definitely helped the...

[more]