Bankruptcy Blogs

Equityholder’s Strategy for Shifting Tax Burdens to Creditors Upheld by Third Circuit

08/12/13

By Eugene Kim

In re Majestic Star Casino, LLC, F.3d 736 (3rd Cir. 2013), the U.S. Court of Appeals for the Third Circuit broke from other courts by holding that S corporation status (or "qualified subchapter S subsidiary" or "QSub" status) is not property of the estate of the S corporation’s bankruptcy estate. Other Circuits have routinely held that entity tax status is property of the estate.

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Where in the World Are the London Whale Traders?

08/12/13

Receiving Wide Coverage ...

Where in the World are the London Whale Traders? The latest developments in the London Whale investigation may not make for a catchy a cappella tune, but the timing of a grand jury indictment and possible charges against the JPMorgan [JPM] traders at the focus of federal authorities' criminal investigation may hinge on the whereabouts of Javier Martin-Artajo and Julien Grout. ...

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The Daily Docket: AMR Execs Defend Horton Severance

08/12/13

Against criticism from the U.S. government’s executive-bonus watchdog, attorneys for American Airlines’ parent company defended the $20 million severance payment promised to departing Chief Executive Tom Horton, arguing the bill would be paid once the company merges with US Airways Group Inc. Read the Daily Bankruptcy Review article here.

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A Simpler, Gentler Basel?

08/12/13

International regulators concede capital rules are too complex.

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Woman Wins $18.6 Million Verdict Over Smeared Credit

08/12/13

I had to laugh at a comment made by Ken Doran in response to my post on credit score internet dating.  Ken claimed that while he agrees that people considering joining their lives should share financial information, he wouldn't give a rodent's backside about the future partner’s credit score. Thirty plus years as a consumer bankruptcy attorney has taught him that the reports often contain errors, a fact confirmed by a Federal Trade Commission study finding that 21 percent of reports do contained errors.

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Dragnet Clauses

08/11/13

Dragnet clauses are agreements in lending documents that the collateral will secure in addition to the involved debt, other pre-existing and after after acquired debt.

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Why is a Chapter 13 Bankruptcy like a Marriage?

08/11/13

4925542972_94714db144_mThe chapter 13 process in bankruptcy is surprisingly similar to a marriage.

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Super Heroes Fight Debt

08/10/13

steve rhodeThe GetOutOfDebt guy is my hero.

He’s not quite as swashbuckling as Batman and Superman.

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Swipe Fee Battle Rages On; Regulation vs. Innovation; Do Bank Mergers Work?

08/09/13

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

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Why Bank M&A Is Good for Buyers, Sellers and the Economy

08/09/13

Consolidation is needed to help the economy because there are too many banks, argues the author, a longtime bank investor. Many parties benefit from deals, and any return for the seller is better than producing poor results or being seized by regulators.

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