Bankruptcy Blogs

Axos Bank--More Sketchiness?

07/27/23

The Washington Post has a big piece up about Axos Bank being the lender-of-last-resort for Donald Trump. But those us who work in the consumer finance space, know of Axos as a notorious bank partner in rent-a-bank arrangements.

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Consumer Law Scholars Conference--Call for Abstracts

07/14/23

The Center for Consumer Law & Economic Justice at Berkeley Law has announced the call for abstracts for the 2024 Consumer Law Scholars Conference. Abstracts are due by September 8, 2023, for the conference scheduled for February 29-March 1, 2024. The conference welcomes abstracts from a wide array of methods and virtually any topic involving consumers in the marketplace.

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Supreme Court Finds Bankruptcy Code Abrogates Tribal Sovereign Immunity

06/16/23

The U.S. Supreme Court ruled on Thursday that because Indian tribes are indisputably governments, the Bankruptcy Code unmistakably abrogates their sovereign immunity to bankruptcy court proceedings.

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The Puzzle of Diaspora Bonds: A Case Study of Israel's Program

06/15/23

Many countries have attempted to tap their diasporas by issuing bonds.  This has particularly been the case in times of dire need (wars, pandemics, international sanctions, financial crises, and more).  Ukraine is the most recent to have attempted to do this and failed.  Other recent failures include Pakistan, India, Ethiopia and Greece, some of whom turned to bank deposit schemes when attempts to do full scale bond issuances did not succeed

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SEC Coinbase Suit

06/07/23

The SEC has finally brought its long-anticipated lawsuit against Coinbase. The suit alleges that Coinbase has operated as an unregistered securities broker, an unregistered securities exchange, and an unregistered securities clearing agency, and that it has made unregistered sales of securities, namely of its staking-as-a-service products.

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Chapter 13 Payment Information

06/04/23

Here’s How You Can Make Your Chapter 13 Payments in the Alexandria VA Bankruptcy Court The bankruptcy law tells you to make your first Chapter 13 payment one month after your bankruptcy case is filed.  If you forget, or bounce, your first payment, the Chapter 13 trustee can dismiss your case. (That means DO NOT […]

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June 7 virtual event on Second Circuit's Purdue Pharma decision

06/02/23

The Commercial Law League of America is holding a virtual event next week, free of charge and open to all, on broader implications of the Second Circuit's Purdue Pharma decision.

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Third-Party Releases Clearly Endorsed in the 2nd Circuit, At Long Last

05/31/23

Yesterday's 2nd Circuit opinion reconfirming Purdue Pharma's settlement/restructuring plan is an enlightening read for those interested in third-party releases.

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SEC Off-Channel Communications Sweep

05/25/23

Over the last several years, the Securities and Exchange Commission (the “SEC”) and the Commodities Futures Trading Commission (“CFTC”) have been laser-focused on the use of so called “off-channel communications” in the financial services industry. On the theory that employees’ use of personal devices to communicate about business matters violates the “books and records” rules as these communications are not saved in company systems, regulators have conducted intrusive and extensive investigations requiring employees to turn over their personal devices for review.

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