Bankruptcy Blogs

Feds Wrongly Demonize Privacy in Liberty Reserve Case

05/30/13

Public officials talk as if facilitating anonymous financial transactions is in itself somehow nefarious. But there are legitimate reasons to keep online purchases and other activity private.

[more]

Credit Card Judgment: Too Late For Bankruptcy?

05/29/13

BailiffCredit cards file lawsuits to show they’re upset and they miss your payment.  If they win, they have a judgment against you.  It’s not unusual for debt collectors to say bankruptcy doesn’t “work” then.  They’re wrong!

[more]

CNET Co-Founder Halsey Minor Files for Personal Bankruptcy

05/29/13

By Deborah Gage

Tech investor and entrepreneur Halsey Minor filed for Chapter 7 bankruptcy last week in U.S. Bankruptcy Court in Los Angeles. Minor lists his liabilities as $50 million to $100 million, primarily in business debts, with assets in the $10 million to $50 million range.

This is not the first bankruptcy case for Minor–court records show cases in Virginia involving Minor Family Hotels and Carter’s Grove, a historic Virginia mansion that Minor had owned.

[more]

Dance New Amsterdam to Stage Restructuring

05/29/13

Dance New Amsterdam, a nonprofit New York dance education and performance center, filed for Chapter 11 bankruptcy protection this week to gain the breathing room it needs to stage its restructuring.

According to court papers filed Monday, DNA listed assets and debts each in the range of $1 million to $10 million and said it has more than 200 creditors.

[more]

New Bitcoin VC Fund Seeks Edge with Regulatory, Security Skills

05/29/13

The government actions against Liberty Reserve and Mt. Gox underscore the importance of regulatory expertise to digital currency startups. Hence Liberty City Ventures has retained former Treasury officials as advisors.

[more]

A Lesson for U.S. Housing Reformers from Across the Pond

05/29/13

The U.K. Help to Buy guarantee program provides a good example of how a private-public risk sharing arrangement could be structured among mortgage insurers, lenders and the government.

[more]

Liberty Reserve Definitely Not Too Big to Jail

05/29/13

Receiving Wide Coverage ... Laundering Charged: The creators of Liberty Reserve, a cross-border virtual currency exchange, have been arrested and charged with laundering $6 billion. That's "what prosecutors believe to be the largest online money-laundering case in history," the Times reports, with the word "online" being key. $6 billion is 0.9% of what HSBC allegedly failed to control the transmission of between 2006 and 2009, leading to a $1.9 billion fine. …

[more]

The Daily Docket: Ahern Wins Bondholder Support for Plan

05/29/13

Ahern Rentals Inc. and its bondholders have agreed to a path out of Chapter 11 bankruptcy for the construction-equipment company, narrowly avoiding a showdown over rival restructuring plans. Read the Daily Bankruptcy Review article here.

[more]

We Have the Tools to End TBTF, We Just Have to Use Them

05/29/13

Regulators, legislators, bankers, and the public should do everything they can so that Title I of Dodd-Frank works. The goal is to avoid Title II – orderly liquidation – at all cost.

[more]