Bankruptcy Blogs

D.C. Artists Among Former Howrey Pieces up for Sale

06/06/13
Photo courtesy of Weschler’s Auctioneers
“For Xavier” by Sam Gilliam

Howrey LLP stuck close to its Washington, D.C., headquarters when shopping for art t

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Why There Is a Demand for Liberty Reserve's Services

06/06/13

It's not just the anonymity. Like cash and Bitcoin transactions, Liberty Reserve transfers were non-reversible, and that's important to certain merchants.

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SEC's Money Market Proposals; IMF Reports 'We Made Some Big Mistakes' in Greek Bailout

06/06/13

Receiving Wide Coverage ...

SEC's Money Market Plan: The Securities and Exchange Commission has (finally) proposed rules to overhaul the money market fund industry. The rules present two alternatives. One would require prime funds to abandon their $1 fixed share price and use a floating net asset value, allowing share prices to reflect changing market-based value. The other permits stable share prices, but would impose temporary suspensions (or "gates") and 2% liquidity fees on redemptions in...

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Why GE and Citi Settled with FHFA

06/06/13

Banks' defense against litigation over the sale of bad mortgage-backed securities to Fannie and Freddie hinges on the unseemly idea that it is unreasonable to assume that the world's largest banks would comply with the Securities Act of 1933.

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The Daily Docket: Ahern Wins OK on Bankruptcy Plan

06/06/13

Ahern Rentals Inc. won bankruptcy court approval to exit Chapter 11 protection under a plan that keeps the construction equipment rental company in the hands of the family that founded it 60 years ago. Read the Daily Bankruptcy Review article here.

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May 2013 Bankruptcy Filing Numbers Continue Trend

06/05/13

The latest data from Epiq Systems are available, and they confirm my estimate last month of just over 1.0 million bankruptcy filings for the 2013 calendar year. Epiq Systems reports 96,430 bankruptcy filings for the month of May. Spread over the 22 business days in the month, that is a daily filing rate of 4,383.

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The Last Straw for Bitcoin

06/05/13

To survive, Bitcoin businesses will have to do more than "de-anonymize" their operations. They will also have to cope with the loss of the digital currency’s most fundamental characteristic: irrevocability.

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Branch Visits Fewer, But Ever More Important

06/05/13

While face-to-face interactions may be nowhere near the most common banking transaction these days, they continue to have an inordinate influence on how customers think and feel about a bank. We cannot afford to waste them.

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Limited Scope Representation: An Issue of Access to the Bankruptcy System

06/05/13

The problem of the high cost of consumer bankruptcy representation is well documented. The recent Consumer Bankruptcy Fee Study revealed a 24% increase in attorney fees post-BAPCPA for chapter 13 cases, with mean fees in some jurisdictions approaching $5,000. For no-asset cases filed under chapter 7, mean attorney fees have increased 48%—as high as $1,500 at the mean in some jurisdictions. 

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The Daily Docket: JeffCo Leaders Approve Sewer-Debt Deal

06/05/13

Jefferson County, Ala., leaders voted Tuesday to accept a debt-settlement plan that will dramatically slash the $3.1 billion owed on its sewer system and allow the struggling county to get out of bankruptcy. Read the Daily Bankruptcy Review article here.

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