Bankruptcy Blogs

Trustee Sells Home If Defective Mortgage

03/27/13

If the mortgage on your home is defective, a chapter 7 trustee can sell the entire home even if you’re current with your payments and despite the absence of a payment default.   You get any equity – and good luck with obtaining a new mortgage – but the mortgage balance goes to your general creditors which now will include the mortgage lender.

Ouch!!  That certainly can hurt.

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Filing Bankruptcy? Beware of the Unexpected.

03/27/13

This is a tale of two families who just wanted to protect their homes. The older couple wanted to protect their residence from the possibility that they might lose it if they had to go to a nursing home. Their daughter and her husband were having trouble paying the monthly mortgage payment on their home. They had incurred high medical and credit card debts and the husband’s employer had cut down on the hours that he could work each week.

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Canada's Bail-In Plan for Systemically Important Banks Is Credit Negative

03/26/13

An effective bail-in regime increases the government's ability to impose losses on debtholders and a lower probability of systemic support could increase bank funding costs.

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After Bankruptcy, Dippin’ Dots Aims for Healthier Future

03/26/13

Out of bankruptcy with a new owner that allowed “The Ice Cream of the Future” to live on for another day, the unbridled Dippin’ Dots is making an ambitious bounce towards the school cafeteria with a healthier, fat-free product.

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Big Bank CEOs Must Rally Against Breakup Talk

03/26/13

Congress and regulators are listening. Silence among big bank representatives can be viewed as a green light to pass legislation that limits the size of their financial institutions.

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JPM's 'Whale' Hearing: What Was the Point?

03/26/13

While JPMorgan's witnesses were testifying with practiced humility, lobbyists were working to gut the reforms of derivatives trading enacted as part of the Dodd-Frank Act.

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The Daily Docket: Revel Enters Bankruptcy

03/26/13
Associated Press

Revel AC Inc., which owns a resort and casino in Atlantic City, N.J., sought Chapter 11 bankruptcy protection Monday to carry out a restructuring previously agreed to by lenders.

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Good Euros and Bad Euros, Johnson Calling It a Day

03/26/13

Receiving Wide Coverage ...

Good Euros and Bad Euros: The accomplished fact of losses for large depositors to resolve Cyprus' insolvent banks rippled through markets, newspapers and the commentariat. German Chancellor Angela Merkel's hard line against the offshore banking haven prevailed, but fresh worries that depositors in other countries with weak banks might flee reinvigorated doubts about the viability of the euro. An interview in the FT with Eurogroup President Jeroen Dijsselbloem was a focal point....

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Banks Need More Well-Rounded Boards

03/26/13

The difference between board members with hands-on banking, compliance and technology knowledge and board members without can mean the difference between a bank's success and failure.

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