Bankruptcy Blogs

Supreme Court to hear Housing Discrimination Case

06/17/13

The Supreme Court granted certiorari today in MOUNT HOLLY, NJ, ET AL. V. MT. HOLLY GARDENS CITIZENS, on the question whether Fair Housing Act claims of race discrimination in the sale, rental or financing of housing can be proven based on evidence of disparate impact.  The case does not directly involve credit, but is being watched closely by bank lawyers and fair lending advocates for the impact it will have on Fair Housing Act litigation against mortgage lenders.

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The Daily Docket: Orchard Enters Bankruptcy

06/17/13

Orchard Supply Hardware Stores filed for Chapter 11 bankruptcy protection Monday with plans to sell itself to Lowe’s Cos., subject to higher bids at auction. Click here for the Daily Bankruptcy Review article.

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Co-op Bank to 'Bail In' Bondholders; JPM Expands and Contracts

06/17/13

Receiving Wide Coverage ...

Co-op Bank 'Bails In' Bondholders: As part of its efforts to raise an additional $2.4 billion in capital, U.K. lender Co-operative Bank is asking subordinated bondholders to swap their debt securities for shares in the bank. "By requiring bondholders to exchange their debt securities for shares, Co-operative Bank is trying to avoid turning to the British government for help," Dealbook notes. Participation in the swap is currently voluntary. Analysts tell the Journal...

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Avoiding Social Media Will Cost Banks Customers

06/17/13

Social channels may encourage complaints, but it is in banks’ best interests to publicly demonstrate they are fixing the problem.

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Bankruptcy Court Has Jurisdiction To Enter Final Judgment On Fraudulent Transfer Claims; Judge Sacca Follows Narrow View Of Stern v. Marshall

06/16/13

In a 28 page opinion, Judge Sacca of the Northern District of Georgia held that Bankruptcy Courts have jurisdiction to enter final orders in some cases involving fraudulent transfer claims. Mitchell v. Banks, Adv. Proc. No. 12-0562, 2013 Bankr. LEXIS 2384 (Bankr. N.D. Ga.

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Several Popular Local Restaurants, Including Garrison’s, Einstein’s and Joe’s on Juniper, File Chapter 11 Petitions After Large Judgment Entered

06/16/13

Several popular restaurants in metro Atlanta filed Chapter 11 petitions in the Northern District of Georgia on June 13, 2013 after a $2.14 million judgment was entered in Cobb County Superior Court.  The entities filing include:

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The Polarizing Issue of Overdraft Protection; Should Regulators Vet New Financial Products?

06/14/13

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

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Overdraft Problems Require More than Enforcement Actions

06/14/13

Straightening out bad actors is fine, but it won’t resolve the inconsistencies and consumer confusion about overdraft protection cited by the Consumer Financial Protection Bureau.

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