Bankruptcy Blogs

Supreme Court Rules Allen Stanford Ponzi-Scheme Victims Can Sue Third Parties

02/26/14
Bloomberg News

Victims of R. Allen Stanford’s $7 billion Ponzi scheme can sue law firms and other third parties on allegations they aided the fraud, the Supreme Court ruled Wednesday.

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Bankruptcy Watchdogs Resume Debtor Audits

02/26/14
Getty Images

Federal bankruptcy watchdogs are once again patrolling in full force, restarting the consumer debtor audits that a tight budget forced them to suspend last year.

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Bankruptcy Watchdogs Resume Debtor Audits

02/26/14
Getty Images

Federal bankruptcy watchdogs are once again patrolling in full force, restarting the consumer debtor audits that a tight budget forced them to suspend last year.

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Preference Payments: Brief Analysis of Preference Actions and Common Defenses

02/26/14

It’s your worst nightmare: you provided goods and services to a financially struggling company, only to find out that it filed for bankruptcy, leaving your company with a large unpaid balance.  Worst yet, after the debtor filed for bankruptcy, you receive a demand letter in the mail threatening a lawsuit if you do not return payments that you received from the debtor, even though you earned that money by providing goods or services to that entity.  What sense does that make?

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Preference Payments: Brief Analysis of Preference Actions and Common Defenses

02/26/14

It’s your worst nightmare: you provided goods and services to a financially struggling company, only to find out that it filed for bankruptcy, leaving your company with a large unpaid balance.  Worst yet, after the debtor filed for bankruptcy, you receive a demand letter in the mail threatening a lawsuit if you do not return payments that you received from the debtor, even though you earned that money by providing goods or services to that entity.  What sense does that make?

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Cybersecurity Framework Can Help Banks Address Increased Regulatory Scrutiny

02/26/14

The framework released by the National Institute of Standards and Technology should serve as an important tool for banks in meeting regulatorsÂ' heightened expectations for managing cyber risk.

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The Daily Docket: Freedom Industries Cooperating With Grand Jury

02/26/14
Steve Helber/Associated Press
Workers inspect an area outside a retaining wall around storage tanks where a chemical leaked into the Elk River at Freedom Industries storage
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The Daily Docket: Freedom Industries Cooperating With Grand Jury

02/26/14
Workers inspect an area outside a retaining wall around storage tanks where a chemical leaked into the Elk River at Freedom Industries storage facility in Charleston, W.Va.
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Morning Scan: What Mt. Gox Means for Bitcoin; JPM's Cautious Outlook

02/26/14

Receiving Wide Coverage ...

On Mt. Gox: The apparent collapse of big Bitcoin exchange Mt. Gox has reignited concerns about the digital currency. Japan's government, for instance, is now looking into regulating Bitcoin, though officials are not offering any specifics as to how. Some pundits are arguing, amid crashing Bitcoin prices, that Gox has sounded the cryptocurrency's death knell given that the reported theft of 744,000 bitcoins is likely to preclude prospective and even current users...

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Must Read Opinion on Preference Issues

02/25/14
Judge Tony Davis has authored an opinion which should be recommended reading for anyone litigating preference issues.   The opinion encompasses the court’s rulings on both summary judgment and trial on the merits and touches on both procedural and substantive issues.   Ciesla v. Harney Management Partners (In re KLN Steel Products Co.), No. 13-1013 (Bankr. W.D. Tex.
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