Bankruptcy Blogs

Furlough Raises Moral Questions

10/07/13

Snaking up a mountain road toward our favorite trailhead yesterday, Stewart and I realized we’d face some moral dilemmas when we arrived. Assuming we could get into the National Forest at all, would we pay the fee, even though no one would fine us if we didn’t? Yes, we concluded. Fair is fair. Would we use the restrooms even though we knew they were not being cleaned?  As we left civilization, the answer to this one became increasingly “yes.” Would we throw our breakfast burrito wrappers in the bear-proof garbage cans? You bet.

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Fifth Circuit Nixes Consent in Stern Cases

10/07/13
A failed bid to reap a Beanie Baby bonanza, which resulted in a fifteen year legal odyssey for a chapter 13 debtor and his attorneys, will live on a while longer as a result of the Fifth Circuit’s recent interpretation of Stern v. Marshall.
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Fifth Circuit Nixes Consent in Stern Cases

10/07/13
A failed bid to reap a Beanie Baby bonanza, which resulted in a fifteen year legal odyssey for a chapter 13 debtor and his attorneys, will live on a while longer as a result of the Fifth Circuit’s recent interpretation of Stern v. Marshall.
[more]

Combine FHA with New Mortgage Agency to Avoid Another Bailout

10/07/13

Placing the Federal Housing Administration inside the proposed Federal Mortgage Insurance Corporation would provide singular oversight for balancing the post-GSE mortgage market and a fully federal guaranteed market for specified market segments.

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Argentina Gets No SCOTUS Review - Yet (Yawn)

10/07/13

To the surprise of nobody, the Supreme Court rejected Argentina's June 2013 request to review the Second Circuit's October 2012 decision that it violated the pari passu clause in its defaulted bonds. The court gave no reason, which is normal.

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As Madoff Five Year Anniversary Approaches, Investors Denied Time-Based Damages

10/07/13

Two months from now will bring the five year anniversary of the unraveling of Bernie Madoff’s Ponzi scheme, one of the bookends, along with the collapse of Lehman Brothers., of the extraordinary Fall of 2008. To date, Trustee Irving Picard has recovered over $9.5

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N.Y.'s Victory Over Tribal Lenders May Be Short-Lived

10/07/13

If history bears any indication of where this fight will wind up, New York’s top bank regulator, Benjamin Lawsky, could be headed for a long, slow, expensive defeat.

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The Daily Docket: Stockton Strikes Deal With Bond Insurer

10/07/13
Ben Margot/Associated Press

Struggling Stockton, Calif., struck a deal with the bond insurer behind the city’s roughly $125 million pension bond debt—its largest borrowed debt—that will enable the city to stretc

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As Madoff Five Year Anniversary Approaches, Investors Denied Time-Based Damages

10/07/13

Two months from now will bring the five year anniversary of the unraveling of Bernie Madoff’s Ponzi scheme, one of the bookends, along with the collapse of Lehman Brothers., of the extraordinary Fall of 2008. To date, Trustee Irving Picard has recovered over $9.5 billion through litigation and settlements and distributed over $4.7 billion

[more]

As Madoff Five Year Anniversary Approaches, Investors Denied Time-Based Damages

10/07/13

Two months from now will bring the five year anniversary of the unraveling of Bernie Madoff’s Ponzi scheme, one of the bookends, along with the collapse of Lehman Brothers., of the extraordinary Fall of 2008. To date, Trustee Irving Picard has recovered over $9.5 billion through litigation and settlements and distributed over $4.7 billion

[more]