Bankruptcy Blogs

The Daily Docket: Trump-Branded Atlantic City Resorts File for Bankruptcy

09/09/14
The Trump Plaza Hotel Casino in Atlantic City, N.J.
Associated Press

The Atlantic City Boardwalk casinos that bear the name of mogul Donald Trump returne

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Morning Scan: Higher Capital Requirements Coming from Fed; Home Depot Breached

09/09/14

Receiving Wide Coverage ...

More Capital Needed: Fed Chair Janet Yellen has pushed for higher capital requirements for SIFIs, and details of the Fed's plans in that area are to be released Tuesday at a Senate Banking Committee hearing, the Wall Street Journal reports. Some larger banks could face a levy as high as 4.5%, as the Fed is looking for a capital surcharge as much as two percentage points higher than the 2.5% maximum in...

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Both Sides Support Cert in Appeal of Order Denying Chapter 13 Plan

09/08/14
The Supreme Court may add another bankruptcy case to its agenda this term in a case where both the Petitioner and the Respondent support the grant of cert.    No. 13-1416, Gordon v.
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Big Banks Headed Straight for Another Bailout

09/08/14

Dodd-Frank has failed to solve the too big to fail problem, according to consultant J.V. Rizzi Â-- and some of the best solutions, like breaking up the banks, are also the most unlikely.

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A Bite. A Bankruptcy. A $100,000 Bill.

09/08/14

Over the years, Bankruptcy Beat has seen plenty of reasons offered as to why individuals and corporations file for bankruptcy. Recently, a peculiar one caught our eye.

In 2012, a New York man, Sultan Soliman, sought Chapter 7 protection in the face of a $110,000 court judgment issued against him following an incident in which he bit a neighbor (yes, bit him) on the nose in an elevator. In bankruptcy, many debts, including some court judgments, can be erased.

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How Issuers Can Get Fair Lending Compliance Right

09/08/14

A recent study suggests that credit card issuers' marketing practices show evidence of racial bias. The good news is that self-tests can help lenders fix fair lending compliance issues, according to Rich Walker of the Winterberry Group.

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The Daily Docket: Judge Says Corzine, Others Can Tap MF Global Insurance

09/08/14

A bankruptcy judge said he would allow Jon S. Corzine and other former MF Global Holdings Ltd. executives and employees to tap the rest of their insurance money to pay for defense costs, but he is “concerned” with how quickly the money is being spent—though it isn’t within his power to stop it. The Wall Street Journal has the Daily Bankruptcy Review article here.

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Morning Scan: Big Banks' New Legal Front: Derivatives; Union Bank's Aspirations

09/08/14

Wall Street Journal

The Fed's giant stash of assets is the equivalent of a semipermanent sovereign wealth fund, argues David Malpass, a deputy assistant Treasury secretary in the Reagan administration, in a Journal op-ed. It's one of the "world's largest and most leveraged bond portfolios, taking massive interest-rate risks." Malpass says the Fed should be coerced into establishing a "clear portfolio wind-down process" to allow it to concentrate on monetary and regulatory policy. Financial Times ...

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Kim Case KOs Homestead Interest of Non-Filing Spouse

09/07/14
This has not been a good year for Texas homesteads involved in bankruptcy proceedings.    In April, the Fifth Circuit ruled (after nearly two years under advisement) that the non-filing spouse does not have a separate homestead estate entitled to protection when the other spouse files bankruptcy, or, as happened in this case, has an involuntary petition brought against him.    Kim v. Dome Entertainment, Inc. (In re Kim), No. 10-10882 (5th Cir.
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Now Might Be the Time for the Longest Pending Catholic Diocese Chapter 11 Case to Settle

09/07/14

The Archdiocese of Milwaukee is one of 11 dioceses (plus 2 other Catholic-affiliated religious orders) to file under Chapter 11 -- and it likely will not be the last. All of the cases were filed in hopes of achieving global settlements of sexual abuse claims. The Milwaukee Archdiocese filed over 3.5 years ago, in January 2011, making it the longest running Diocese case.

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