Bankruptcy Blogs

Ripe for Radical Change: Banks' Payments Infrastructure

07/30/13

Making a significant difference to the cost base of payments could make a significant difference to the bank overall.

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The Daily Docket: Creditor Panel Signals Opposition to Cengage Plan

07/30/13

Cengage Learning Inc.’s unsecured creditors are accusing the company’s first-lien lenders, including current equity owner Apax Partners L.P., of orchestrating a “value-grabbing effort” to deleverage the company and capture all its value at the expense of other creditors. Read the Daily Bankruptcy Review article here.

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FERC Accuses JPM; Virtual Currencies' Self-Regulation; Tourre Trial Nears End

07/30/13

Receiving Wide Coverage ...

JPM Energy-Market Allegations: The Federal Energy Regulatory Commission released a two-page document on Monday, detailing its (already widely reported) accusations against JPMorgan Chase for energy-market manipulation. Per the Journal, "the document describes several trading schemes, including submitting bids that 'falsely appeared' attractive to electricity-system operators and led to payments to the bank valued at 'tens of millions of dollars at rates far above market prices.'" The FT notes the allegations "echo the...

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Rapper DMX Files for Bankruptcy

07/30/13
Getty Images
DMX

The rapper DMX filed for Chapter 11 bankruptcy protection, court records show, days after his arrest on suspicion of driving under the influe

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Don't Let Bitcoin Morph into Govcoin

07/30/13

A new self-regulatory organization for crypto-currencies could do a lot to advance the industry, but risks becoming co-opted by the government and undermining the core value proposition of digital cash.

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Real Bankruptcy Fraudsters of New Jersey?

07/29/13

I know what I'm going to start with the next time I teach bankruptcy crimes....  

The indictment is here.

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Dewey Partners’ New Firms May Face Subpoenas

07/29/13
Robert Galbraith/Reuters

If your law firm bailed out a partner from Dewey & LeBoeuf LLP as it sunk into bankruptcy, your firm might be getting subpoenaed soon.

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In Talent War, Wall Street Sets a Fine Example

07/29/13

Smart employers know there are no bounds on talent that are defined by race, gender, ethnicity or sexual orientation.

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Museum Bondholders Could See Tiny Recovery

07/29/13

Unhinged from their dream of running a museum crowded with tourists who are eager to learn about young America’s Westward expansion, officials at the Great Platte River Road Archway Monument in Nebraska will settle for mediocre attendance and no more bond debt.

Officials at the oddball museum, which sits atop stilts that straddle Interstate 80 near Kearney, Neb., are proposing to pay a mere $50,000 to bondholders who are owed $20 million, according to the bankruptcy-exit plan they’ve proposed to a judge.

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The Privilege Is All Mine: What Happens To A Corporation's Attorney-Client Privilege In Bankruptcy?

07/29/13

It's well-established that a corporation has an attorney-client privilege and can assert it to keep communications between the corporation and its attorneys confidential. When a corporation is solvent, its officers and directors maintain the right to assert -- or waive -- the attorney-client privilege on behalf of the corporation, and control who has access to privileged communications.

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