Bankruptcy Blogs

Consumer Finance Movie: Spent: Looking for Change

06/18/14
I just saw Spent: Looking for Change, a documentary about the financial challenges of the unbanked. The film was funded by American Express, but there is no marketing of Amex products in the film. (Amex does offer one of the best non-DDA account options for the unbanked, however.) You can watch the movie for free on YouTube.

The movie really puts a human face on the problems of the unbanked.

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D.C. Restaurant Owners Move to Hire Fraud Lawyers

06/18/14

Investors who bought several Washington, D.C., restaurants that are now in bankruptcy want to hire a law firm that specializes in criminal fraud to look for any potential claims against the former owners.

In court papers, lawyers for restaurant owner Barrack’s Row Ent Group LLC said they want to hire the Biran Kelly law firm to investigate D.C restaurateur Xavier Cervera and two other people who sold the restaurants in late 2012.

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Appeals Court Denies Damage Claim for Clear Violation of the Automatic Stay

06/18/14

stay violation distress claimOn May 8, 2014 the 11th Circuit Court of Appeals released an interesting ruling denying a claim for damages filed by Chapter 13 debtors against their mortgage company. The Lodge v.

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How Regulators Can Stop Shadow-Boxing with Shadow Banks

06/18/14

In the era of shadow banking, regulators should focus not on which asset management firms to regulate, but on which asset management activities.

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The Daily Docket: ResCap Trust Criticizes Fees

06/18/14

The trust in charge of overseeing Residential Capital LLC’s liquidation is trying to make the former mortgage servicer’s expensive bankruptcy case a little cheaper. Read the Daily Bankruptcy Review article here.

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Morning Scan: The Interest-Rate Crystal Ball; Citi Exodus; Argentine Debt Drama

06/18/14

Receiving Wide Coverage ...

Central Bank Tea Leaves: A few stray comments by Bank of England policymakers have shifted rate expectations for the U.K. and caused a swing in currency markets. The minutes of the central bank's latest policy meeting, released Wednesday, showed members of the policy committee voicing "surprise" that investors don't think a rise in interest rates is likely before next year. Investors, apparently surprised at the central bank's surprise at their expectations, proceeded...

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Turning Away From the Dark Side!

06/18/14

Just a quick note to follow up on previous posts (here and here) and report that the First Circuit reversed In re Traverse.  Thanks to

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About That June 30 Payment...

06/17/14

So, Argentina lost its bid to have the Supreme Court overturn the injunction. It also has a payment due exchange bondholders on June 30. Recall that the Second Circuit stayed enforcement of the injunction so that the Supreme Court could consider Argentina's petition for certiorari. Is that stay still in place? Can Argentina get more time (until after June 30) by asking the Supreme Court to reconsider the denial of certiorari?

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How Argentina Can Get Around the U.S. Supreme Court – The Short Answer

06/17/14
Bloomberg News

How did Argentina get to this point?

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