Bankruptcy Blogs

The Daily Docket: Lehman Swiss Deal Doubles Some Recoveries

04/22/13
Agence France-Presse/Getty Images

Liquidators of the Swiss derivatives unit of Lehman Brothers Holdings Inc. said a recent settlement may double recoveries for the subsidiary’s creditors.

[more]

The Future of Housing - Less Government, More Private Capital

04/22/13

The introduction of more private, risk-bearing capital to housing finance should expand homeownership possibilities.

[more]

SEC's White to Name New Lieutenant; Cybersecurity Concerns; Investors Crowd Housing Market

04/22/13

Receiving Wide Coverage ...

SEC's New Enforcer: Chairman Mary Jo White is set to appoint long-time colleague Andrew Ceresney as co-head of the Securities and Exchange Commission's enforcement unit pretty much any day now. Ceresney, who served with White while she was U.S. Attorney for the Southern District of New York and at law firm Debevoise & Plimpton LLP, will share the role with interim enforcement chief George Canellos. Dealbook calls the joint leadership "unusual, if...

[more]

Can Marital Settlement Agreement Supersede Bankruptcy Discharge?

04/22/13

A commercial contract cannot waive your right to file bankruptcy. A credit card company or a mortgage lender may not enforce a provision in their documents that states you are not permitted to file bankruptcy so as to disqualify your bankruptcy petition. Contractual provisions waiving your right to file bankruptcy are void.

[more]

NML et al Decline Argentina's Offer ... and Ratable, Elaborated

04/22/13

Surprise, surprise -- NML and colleagues would just as soon pass on Argentina's offer of 2010 restructuring terms. Plaintiffs' submission (ahead of schedule) is full of the sort of language I love to learn in this case and deploy on disobedient children: "plainly believes rule of law does not apply to it ... predictably and characteristically defiant ... fails completely ... astoundingly ... has the temerity to claim ...

[more]

Bankruptcy 420

04/21/13

In honor of April 20th everywhere, and in the immortal Hollywood movie words of Jeff Spicoli, Hey dude, let’s party.

But first, a quick drug trivia lesson.

Who said “Are you on drugs?”  My Cousin Vinny’s Judge Chamberlain Haller.  Don’t you just love that movie, I know I do.

Who sang “Everybody must get stoned”?  Bob Dylan, though Dylan was referring to the biblical act of being stoned by actual rocks.

What does the number 420 [4:20 or 4/20] have to do with bankruptcy? [silent pause]

[more]

Foreclosure Settlement Checks are Bouncing

04/19/13

Foreclosure Settlement Checks are Bouncing Some people just can’t catch a break.  Homeowners who received settlement checks from some of the largest banks involved in the illegal foreclosures of 2009 and 2010 reported that they were denied due to “insufficient funds.”  Having the foreclosure settlement checks bounce is just the most recent blow dealt to [...]

[more]

‘King of Bankruptcy’ Takes Aim at Fees

04/19/13
Bloomberg News
Wilbur Ross speaks at the Bloomberg Global Markets Summit in New York on Jan.
[more]

The Broke and the Beautiful: Solo Edition

04/19/13

This week on The Broke and the Beautiful, former Westlife singer Shane Filan is recording a solo album, and a new documentary looks at the Madoff scandal through a unique perspective. Also, Tareq Salahi’s family winery is on the market.

[more]

Fondly Remembering an Old-School Banking Machine

04/19/13

Computers, as fast that they may be, fail to provide depositors with the same quality service as the NCR 2000.

[more]