Bankruptcy Blogs

A U.S. appellate court on Monday upheld a lower court’s decision to dismiss a lawsuit by retirees of Lehman Brothers Holdings Inc. that sought to hold the company’s directors, including former Chief Executive Dick Fuld, accountable for squandering their retirement savings on stock that was rendered worthless when the investment bank collapsed into bankruptcy. Read the Daily Bankruptcy Review article here.

Branch numbers will grow again while the industry’s total branch square footage goes down. More customers will choose their banks based on the availability of a branch they won’t use all that much.

A bipartisan commission, in lieu of a director, would encourage internal deliberation and constrain the CFPB’s ability to make politically-motivated or ill-informed decisions.

Future banking will feel more like a medical relationship, serving customers with the intimacy and attention of the family doctor. This will require a Hippocratic-oath level of trust.

Pfizer Inc. is on track to shake billions of dollars’ worth of asbestos liabilities, as its long-defunct subsidiary Quigley Co. seeks federal court approval of a Chapter 11 plan already confirmed by a bankruptcy judge in New York. Read the Daily Bankruptcy Review article here.