Bankruptcy Blogs

Young Buck’s bankruptcy is drawing to a close while the rapper serves a prison sentence for gun possession.

The trustee overseeing the Nashville, Tenn.-based rapper’s bankruptcy liquidation recently filed her final report in the case, which raised $391,331.59 to pay creditors. Most creditors aren’t getting paid in full, while some aren’t getting paid at all.

The president of the Kansas City Fed responds to the ABA's James Chessen.

The Fed should ditch tailored versions of bank-centric rules for ones that build on current nonbank regulation and are informed by comments received in the pending rulemakings.

Receiving Wide Coverage ...

Another Foreclosure Error: First, the OCC and Federal Reserve oversaw a foreclosure review process that benefited independent consultants more than actual homeowners. Next, the regulators replaced this costly foreclosure review with a settlement that gave only $300 to most affected borrowers. Then some of the checks mailed to borrowers bounced. Now regulators have disclosed that nearly 100,000 borrowers received checks for less than what they were owed, due to a clerical error...

In bankruptcy, prepetition loans made by insiders are often investigated, and sometimes challenged, by debtors, creditors' committees, or trustees.