Bankruptcy Blogs

Lenders Beware -- Fifth Circuit has lowered the bar for cramdown plan confirmation

03/29/13

By Eugene Kim 

In a recent Fifth Circuit decision, Western Real Estate Equities, LLC v. Village at Camp Bowie I, L.P., No. 12-10271 (5th Cir. 2013), the court held that the acceptance vote from a minimally and “artificially impaired” class of claims meets the 11 U.S.C. § 1129(a)(10) requirement for the confirmation of a non-consensual “cramdown” chapter 11 plan.

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Is Involuntary Bankruptcy Petition Possible Before Creditor’s Judgment?

03/29/13

One of my clients says his creditors have threatened to force him into Chapter 7 bankruptcy. The client is in default of a loan agreement over $1 million, but the creditor has not yet filed a lawsuit. The client’s recently purchased Florida homestead would not be exempt in a bankruptcy case filed in the near future.

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The Daily Docket: A123 Looks to Preserve Tax Credits

03/29/13
Associated Press

The shell of A123 Systems Inc. left behind in bankruptcy is seeking to preserve millions of dollars in tax credits with the state of Michigan.

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No One is Immune from Credit Card Fraud, Not even the Chief Justice

03/29/13

Wow. Credit card fraud really can happen to anyone, as the Washington Post's Al Kamen reported this afternoon.  Apparently U.S. Supreme Court Justice John Roberts had his credit card number stolen and had to pay cash for his morning Starbucks.

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No One is Immune from Credit Card Fraud, Not even the Chief Justice

03/29/13

Wow. Credit card fraud really can happen to anyone, as the Washington Post's Al Kamen reported this afternoon.  Apparently U.S. Supreme Court Justice John Roberts had his credit card number stolen and had to pay cash for his morning Starbucks.

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House Overdraft Bill Will Hurt Consumers

03/28/13

Limiting the number of overdraft fees could cause consumers to miss important payments, be denied necessities and wind up with negative information on their credit reports.

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The Daily Docket: Judge OKs AMR Merger With US Airways

03/28/13
Associated Press

A bankruptcy judge said it would be “inappropriate” to approve a $20 million exit package for the outgoing chief executive of American Airlines parent

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Cyprus Banks Reopen; DOJ's Breuer Gets New Job; Moynihan Wants to Stay B of A CEO for Life

03/28/13

Receiving Wide Coverage ...

Reopened: Cypriot banks reopened this morning, after being closed for nearly two weeks due to the country's financial crisis, but there are limits to what customers can do at their branches. Per the Post, cash withdrawals will be limited to 300 euros ($383) per person a day, transactions with other countries will be capped at 5,000 euros and those travelling won't be able to take more than 1,000 euros (as well as...

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The Best Loan Policies Consider a Bank's Community

03/28/13

Tailoring a bank's loan policy to the business available in its trade area tends to effectively reduce loan losses and prevent credit debacles.

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