Bankruptcy Blogs

The Daily Docket: Court Rules Russia Owes Ex-Yukos Owners $50 Billion

07/28/14

A court in The Hague has ruled that Russia owes former shareholders of the now-defunct oil giant Yukos more than $50 billion in compensation for the government’s seizure of the company, The Wall Street Journal reports.

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Guess the Date – Holdout Edition

07/28/14

The bill admits, that the whole amount divided among all the [creditors], was not enough to satisfy the complainant’s debt. What a singular proposition then to maintain, that although the whole were only entitled, in Law, to a less sum than this individual claims, out of the entire proceeds, yet that this and every other creditor of the same grade, by standing out and standing off, and pursuing his remedy separately, would realize the sum total of his claim!

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Nortel’s Bond Interest Rate Fight Sends U.S., Canadian Judges to Separate Corners

07/25/14

The U.S. and Canadian judges who will decide how to divide $7.3 billion raised in the liquidation of the former Canadian technology icon went their separate ways Friday, with the U.S. judge canceling and the Canadian judge forging ahead with a hearing on an issue that could be key to the decision.

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The Examiners Tackle Argentina

07/25/14

This month, the Examiners will tackle a timely and thorny topic—Argentina’s debt troubles.

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You Say Poignant, I Say Depressing

07/25/14

As Anna points out, there are indeed moments of poignancy in the pari passu litigation, largely having to do with the fact that, days from a major sovereign default induced in no small part by their rulings, the US courts only now seem to be discovering basic facts about the case.

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What Airbnb Can Teach Banks About Branding

07/25/14

AirbnbÂ's recent rebranding featured personal narratives from employees and customers as well as stories that emphasized the companyÂ's local roots. Banks can apply these lessons to their own marketing and product development, according to consultant Sam Maule.

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Forward Motions: Judge to Review Fisker Payment Plan

07/25/14

A Delaware bankruptcy judge next week could approve the creditor-payment plan that would distribute money from the $149.2 million sale of failed hybrid auto maker Fisker Automotive Inc.

On Monday, Judge Kevin Gross has the power to approve the distribution plan for proceeds from the company’s sale to China’s Wanxiang Group. Wanxiang America has said it will revive Fisker’s car-making operations, and the plan offers old company’s trade vendors and other unsecured creditors a chance to share in the profits through a 20% ownership stake in the reorganized company.

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How Banks Can Be More Like the Very Best Brands

07/25/14

Everyone these days is chasing Apple and Amazon.com. But are the strengths of these brands applicable to the banking industry?

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Morning Scan: New Rule for Foreign Banks' Bad Loans

07/25/14

Receiving Wide Coverage ...

Foreign Banks to Face the Music: Banks outside the U.S. will have to deal with loan losses sooner under a new accounting rule issued by the International Accounting Standards Board. "Under the new standard, non-U.S. banks will have to book loan losses based on their expectation that future losses will occur, beginning in 2018," the Wall Street Journal reports. "That is expected to speed up the booking of losses and require greater...

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The Daily Docket: Nortel Strikes $1 Billion Interest Cap With Bondholders

07/25/14

Nortel Networks Corp .’s U.S. division said Thursday it has reached a deal with bondholders owed nearly $4 billion to cap the interest they can collect at $1.01 billion. Read the Daily Bankruptcy Review story via The Wall Street Journal.

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