Bankruptcy Blogs

Want to End Banking's Bad Rep? Charge a Fair Price for Better Products

07/02/13

Companies that create goods or enhance existing services are seen as innovative and responsive. Businesses that impose fees without adding value often wind up paying a reputational price.

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The Daily Docket: Excel Maritime Enters Bankruptcy

07/02/13

Shipping company Excel Maritime Carriers Ltd. filed for Chapter 11 bankruptcy protection late Monday after reaching a restructuring deal with its senior lenders. Read the Daily Bankruptcy Review article here.

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Citi Settles with Fannie; Winklevoss Twins File for Bitcoin IPO

07/02/13

Receiving Wide Coverage ... Citi Settles: Citigroup has agreed to pay $968 million to settle claims it sold bad mortgages to Fannie Mae. Analysts tell the Wall Street Journal Citi may settle with Freddie Mac over similar charges as well, though official spokesmen for both parties are declining to comment. Citi did say that the settlement charges would be covered by its existing mortgage repurchase reserves. The bank plans to add $245 million to this reserve…

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Examiners' Growing Misuse of 'Reputation Risk'

07/02/13

Regulators are challenging banks’ relationships with disfavored businesses, citing the endlessly adaptable concept of reputation risk rather than law or regulation.

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Corker-Warner Improves on GSE Model ... Barely

07/01/13

An explicit guarantee is better than the implicit one Fannie and Freddie had. But a more fundamental approach is to demand that financial actors internalize and capitalize the risks themselves.

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The Daily Docket: Jefferson County Files Bankruptcy Plan

07/01/13

Jefferson County, Ala., filed its bankruptcy-exit plan, the Birmingham Business Journal reports.

Reader’s Digest Association Inc. on Friday received bankruptcy-court approval of its plan to exit bankruptcy in the hands of bondholders who are forgiving $231 million in debt. Read the Daily Bankruptcy Review article here.

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'Minority' Bank Designation Has Become Meaningless

07/01/13

Goldman Sachs, one of the owners of a newly designated “minority bank,” has a history of discriminatory behavior.

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EU Accuses Banks of Breaching Anti-Trust Rules: Carney Steps In at Bank of England

07/01/13

Receiving Wide Coverage ...

A Deluge of EU News: You can tell that a U.S. holiday weekend is on the horizon as Monday's news is largely coming from overseas. Reuters reports that EU regulators have charged Markit, the International Swaps and Derivatives Association and 13 banks with breaching anti-trust rules by blocking rival exchanges in the credit derivatives business. The banks include Bank of America Merrill Lynch, Citigroup, Morgan Stanley, Goldman Sachs, HSBC and JPMorgan. Elsewhere,...

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Fifth Circuit Finds That Absolute Priority Rule Applies in Individual Chapter 11 Cases

06/30/13
Joining the Fourth and Tenth Circuits, the Fifth Circuit has ruled that BAPCPA did not implicitly repeal the absolute priority rule in individual chapter 11 cases.    Matter of Lively, No. 12-20277 (5th Cir. 5/29/13), which can be found here.
What Happened
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