Bankruptcy Blogs

The Daily Docket: Excel Maritime May Enter Bankruptcy

04/19/13

Struggling shipping company Excel Maritime Carriers Ltd. is nearing a restructuring deal with its lenders but could still have to file for Chapter 11 in the U.S., according to a person familiar with the matter. Read the Daily Bankruptcy Review article here.

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FDIC Should Charge Banks for Lax Risk Management

04/19/13

Spending several million dollars to beef up risk management processes would be an easy decision if it saved hundreds of millions in deposit assessments each year. Also, Camels should become Carmels.

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Morgan Stanley's Trade-In; SEC's Amnesia; Curry's Spicy Memo

04/19/13

Receiving Wide Coverage ... Who Needs Volcker?: The verdict is in on Morgan Stanley's (MS) weak first quarter, and it's a rousing thumbs down. The Wall Street giant's shares fell 5.4% Thursday after it reported disappointing results and a sharp drop in trading activity. Bond-trading revenue fell 42% and stock-trading revenue 19%, according to the company. The news arrived at a time when Wall Street is supposed to be shifting away from risky trading. That's the...

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IWIRC Celebrates Members on 20th Anniversary

04/18/13
Jacqueline Palank
IWIRCs Delaware chapter on Thursday received the Ryan Award for outstanding IWIRC network.

Sheryl Sandberg, take note: A group of restructuring profession

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Wife's Homestead Claim Remains in Limbo With No Answer From Fifth Circuit

04/18/13
The plight of the non-filing spouse who stands to lose an interest in the homestead is a trap that is easy to overlook.   Under 11 U.S.C. Sec.
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After Bankruptcy: Bank of America Can’t Stop Themselves

04/18/13

This is a story about how Bank of America violated the bankruptcy discharge, hacking off Gus and Nikoleta, and me.  (I’ve changed the names of Gus and Nikoleta–all the rest of this is true.)  And then hit Gus and Nikki for a “foreclosure fee” while they were current.  And then did it again.

Gus and Nikoleta came to see me in 2009.

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Stockman's Right - U.S. Is Setting Stage for New Financial Crisis

04/18/13

The policies of the last four years and those currently being considered are - as David Stockman argues in his new book - universally anti-growth.

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Mortgage Settlement Checks Bounce

04/18/13

Remember the $3.6 billion settlement the government made with huge lenders accused of wrongful evictions and other abuses? Wronged homeowners are beginning to get their settlement checks in the mail, only to find that some of them bounce. That’s right.

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Incompetence Elevated to Performance Art in Foreclosure Settlement; Chairman Moynihan?

04/18/13

Breaking News This Morning ...

Earnings: BB&T, Fifth Third, KeyCorp, Popular Receiving Wide Coverage ...

Insult to Injury: You can't make this stuff up. A handful of the checks sent to borrowers under the foreclosure settlement bounced. Fingers are pointing in the direction of Rust Consulting, the firm hired to distribute the checks. Anonymice tell the Times that "after collecting the $3.6 billion from the banks … Rust failed to move the money into a central account at...

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