Bankruptcy Blogs

Giant Emerald for Sale After Owner Loses Battle for an Even Bigger One

06/30/14

: This 2008 file photo provided by the Los Angeles County Sheriff’s Department shows the so-called Bahia Emerald.; Associated Press

A Nevada

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Former Rothstein Partner Receives Prison Sentence

06/30/14

A South Florida lawyer on Friday received a 30-month prison sentence, the consequences of getting mixed up with Ponzi-scheme operator Scott Rothstein.

Russell Adler, one of three name partners in the now-defunct law firm Mr. Rothstein founded, received his sentence from a federal judge after pleading guilty to making illegal contributions to political campaigns at Mr. Rothstein’s request.

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Proceed with Caution on Covenant-Lite Loans

06/30/14

Recovery rates for covenant-lite loans, which impose few financial restrictions on debtors, were pretty decent during the last downturn. But history may not repeat itself.

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Missed Payment Date Musings - Offshore Openings, Free Riding the Free Riders, and Argentina's "Uniqueness"

06/30/14

Extra! Extra! Today is just another day in Argentina's bond saga. It may well come and go with no payments either to the NML plaintiffs or to the restructured bondholders.

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The Daily Docket: LightSquared Has New Reorganization Plan

06/30/14

Philip Falcone‘s LightSquared wireless venture has a new reorganization plan tentatively in place that includes Cerberus Capital Management LP, according to a person familiar with the negotiations. The Wall Street Journal has the Daily Bankruptcy Review article here.

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Morning Scan: Markets Too Euphoric: BIS; BNP Details Emerge

06/30/14

Receiving Wide Coverage ...

Buoyant Markets Worry BIS: The financial markets are "euphoric" despite uncertain economic and geopolitical outlooks and that worries the Bank for International Settlements, according to its annual report Sunday. The BIS finds the "buoyancy" in the markets "puzzling," according to the Wall Street Journal. And we all know what that means. Any time there are headlines or stories about things like "irrational exuberance" in the markets, it means financial officials are worried...

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The Puerto Rico Public Corporation Debt Enforcement and Recovery Act

06/28/14

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The Trustee's Artistic Metaphor

06/28/14

Recently I attended a CLE seminar in which the learned professor discoursed on the difference between a metaphor and a simile. A metaphor is a statement which is not literally true but (for example, you never see a wolf actually wearing sheep's clothing) but conveys a truth through comparison.

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