Bankruptcy Blogs

High Court Won’t Take Up Scottie Pippen Defamation Suit

06/16/14
Scottie Pippen in March 2012
Rick Bowmer/Associated Press

Retired basketball star Scottie Pippen didn’t score a slam dunk at the U.S. Supreme Court Monday.

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AIG's Collapse: The Part Nobody Likes to Talk About

06/16/14

The widely repeated narrative about AIG ignores or downplays a critical aspect of its downfallÂ--the insurerÂ's securities lending program run for the benefit of its regulated life insurance subsidiaries.

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Eminent Domain Mortgage Seizures Down But Not Out

06/16/14

The city of Richmond, Calif., wants to team up with another municipality to implement its plan to use eminent domain to seize underwater mortgages. There have been no takers to date. The likely reasons are the FHFA and the continuing threat of litigation.

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A quick one-two punch: Argentina loses discovery case, too

06/16/14

In other news, the Supreme Court has also ruled against Argentina on the merits in its discovery dispute with NML. Refresher posts here and here.

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The Daily Docket: Momentive to Revise Plan Outline

06/16/14

Momentive Performance Materials Inc. will likely revise its restructuring plan outline after a federal bankruptcy watchdog called it “woefully inadequate.” Read the Daily Bankruptcy Review article here.

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Morning Scan: Capital One in Hot Water Over Bank Account Denials

06/16/14

Receiving Wide Coverage ...

Welcome to FOMC Week: The Federal Open Market Committee meets Tuesday and Wednesday, and the Fourth Estate's Fed watchers filed several previews for Monday's papers. While there's no expectation that Janet Yellen's Fed will raise interest rates right away, especially not before the central bank's tapering of asset purchases is complete, there is increased speculation about when the first rate increase will come. That's in large part because the U.S. labor market...

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Argentina's cert petition denied

06/16/14

Order denying cert here. More on this later, of course. The next payment on the exchange bonds is due June 30, I believe.

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Does Bad Research Beat No Research? Durbin Amendment Data

06/16/14

Todd Zywicki, Geoff Manne and Julian Morris have an article on the effect of the Durbin Amendment.  Sigh.  No surprises here.  Zywicki et al. are making claims beyond what their data can support and in fact directly contradicted by their own data, which shows that some of the "effects" of Durbin preceded the enactment and effective date of the Amendment.   

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Supreme Court Denies Exemption for Inherited IRAs But Texas Debtors May Still Be Able to Keep Them

06/14/14
Most Americans don’t save enough money for retirement.   However, the Supreme Court recently dealt with the opposite situation—what happens when someone saves more than they need and their heirs receive the money (and then file bankruptcy).
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