It’s often said in legal circles that the best settlements leave both sides equally unhappy.
But a deal reached this week requiring former partners to contribute $4.2 million to Howrey LLP’s bankruptcy estate has one side cheering jubilantly and the other side licking its wounds.
Collateralized loan obligations outperformed in the crisis. If regulators can exempt a vast swath of mortgages from risk-retention requirements, surely they can do the same for senior, secured corporate loans.
A bankruptcy judge Tuesday rebuffed TelexFree LLC’s efforts to keep its Chapter 11 proceedings out of Massachusetts, where most of the company’s assets and operations are based. The Daily Bankruptcy Review article is available here.
Receiving Wide Coverage ... Bigger than Facebook: It's all Alibaba, all the time. The Chinese e-commerce company released the prospectus for its U.S. IPO and the New York Times, Washington Post and Wall Street Journal all lavished heaps of coverage on the disclosure. For the banking world, the most-interesting item was the document's identification of the lucky banks that stand to make millions of dollars in fees from the offering. Credit Suisse nabbed the coveted leadÂ...
A bill scheduled for a House vote Tuesday afternoon, designed to help Somali-Americans send money home, highlights the longstanding tension between anti-money laundering regulations and global financial inclusion.
Several hundred people, including many members of the bankruptcy bar, judges and former judges gathered to remember the life of Larry Kelly at First United Methodist Church on March 22, 2014.I counted at least ten current or former bankruptcy judges in attendance as well as m
In less than a week, Nortel Networks’ U.S., Canadian and European divisions will launch a courtroom contest over $7.3 billion in cash, a massive, innovative, cross-border six-week trial that will test…well, something.
Read alone, a recent report from the CFPB might suggest that arbitration clauses in banking contracts could disadvantage consumers, but it was only a preliminary look that failed to paint a complete picture of arbitration's costs and benefits.
