Bankruptcy Blogs

Bankruptcy Name Game

08/21/13

When a company in Chapter 11 sells its business, a lot of work remains: evaluating claims, filing lawsuits, getting rid of leftover assets and, most importantly, paying creditors. But what happens when, as in the case of Lowe’s Cos.’ $205 million acquisition of Orchard Supply Hardware Stores, the buyer wants to keep the seller’s name? What do you call everything that’s left behind?

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No Constitutional Right to Counsel for Chapter 7 Debtor

08/21/13

In the case of In re Eagle, ___ F.3d ___, 2007 WL 2278902 (C.A.8(Ark.)), the court held that under the circumstances the Chapter 7 Debtor did not have a constitutional right to counsel. The Debtor had filed a pro se Chapter 7 case. As the Debtor failed to file the necessary schedules and statements, the court dismissed his case. The court granted the Debtor's motion to reinstate his case and advised the Debtor to obtain counsel. In subsequent proceedings, the court sustained a Creditor's exemption objection. The Debtor appealed the order sustaining the exemption objection.

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Why Regulators Should Embrace Bitcoin

08/21/13

Policymakers and law enforcement should work with the Bitcoin community to realize the potential benefits of censorship-resistant money—and to develop tools and techniques to address the technology’s potential misuse.

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How Dodd-Frank Makes M&A More Difficult

08/21/13

With a wave of mergers and acquisitions inevitable, a new set of regulatory hurdles have evolved for large financial entities and community banks alike.

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The Daily Docket: Kodak Exit Plan Approved

08/21/13
Jim Rydbom/Associated Press
Kodak Colorado Division Building C-29

Eastman Kodak Co. was cleared Tuesday to emerge from bankruptcy court, putting a bookend on an American ric

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DOJ, SEC Enforcement-Palooza; JPM Update; Rogue Computer Foils Goldman

08/21/13

Receiving Wide Coverage ...

Enforcement-Palooza: JPMorgan Chase may not be the only bank facing impending enforcement action. In an interview with the Wall Street Journal, U.S. Attorney General Eric Holder promised more cases — or "a series of significant matters" — related to the economic meltdown are on the way. Holder also dropped this sound bite during the interview (when asked, incidentally, about JPM): "No individual, no company is above the law. We don't investigate companies...

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Detroit's Finest

08/21/13

Some thoughts on the Detroit situation, addressing many of the points Adam raised last night, but from a slightly different perspective, up over at Dealb%k.

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Pari Passu's Caribbean Detour

08/21/13

I wonder if this is how late night comedians feel about Anthony Weiner. He is, surely, the biggest gift that keeps on giving to their profession. On the other hand, it is summer, a time to relax and tell some knock-knock jokes ... but some people just cannot help themselves.

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Why Roger Ferguson May be the Next Fed Chair

08/20/13

The former Fed vice chair is a logical alternative to Janet Yellen and Larry Summers. He's got the central bank and industry experience, plus his confirmation would make history.

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Detroit Institute of Art Collection--Available to Creditors?

08/20/13

I have a piece on Salon about whether creditors should be able to force the liquidation of the Detroit Institute of Arts collection.  The DIA collection is apparently municipal property, although the DIA is an independent non-profit entity that basically operates the collection.

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