Bankruptcy Blogs

But I Surrendered that Property in My Bankruptcy!

03/05/13

Bankruptcy gets you out of debts you don’t want, but not stuff you don’t want.

It doesn’t force the finance company to tow your car.  Or the timeshare people to foreclose the timeshare.  And it doesn’t make the bankruptcy court take anything.

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Community Banks Must Stay Disciplined as C&I Lending Surges

03/05/13

Some banks may be getting reckless with the pricing and terms they're offering commercial borrowers. The trend should temper enthusiasm for otherwise welcome signs of growth.

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Government Benefit Cards Can Open Doors to Banking System

03/05/13

Cards preloaded with unemployment insurance, child support, food stamps and other government benefits can be viewed as potential bank accounts, waiting to be opened by people with the fewest quality opportunities to connect to the financial mainstream.

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The Daily Docket: ResCap Looks to Keep Control of Bankruptcy

03/05/13

Ally Financial Inc. mortgage subsidiary Residential Capital LLC said bondholders wishing to file their own reorganization plan just want the Chapter 11 case to become one “replete with competing plans and open warfare.” Read the Daily Bankruptcy Review article here.

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Fannie, Freddie to Form New Firm; Corbat's Executive Review Plan; JPM's Whale Resurfaces

03/05/13

Receiving Wide Coverage ...

Fannie-Freddie Merger: One big step for housing reform? Federal Housing Finance Agency acting director Edward DeMarco unveiled plans on Monday to merge certain parts of government-controlled mortgage giants Fannie Mae and Freddie Mac in order to "create a common platform for issuing mortgage-backed securities." Details on this plan were scarce, but the merger of certain "back-office functions" would involve forming a new company with its own CEO, management and headquarters. This firm...

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Boards Must Brace for Tougher Enforcement Environment

03/05/13

Criminal indictments of bank employees indicate a failure in the institution's governance, risk and compliance policies. Boards must take the time to improve their risk management systems.

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Creditors Seek Bankruptcy for Treasure Hunter’s Company

03/04/13
Associated Press
Gold bars and coins from the S.S.
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Lenders Beware - Oral Statements may Trump Written Agreements

03/04/13

By Kristy Young

The California Supreme Court recently held that a borrower may rely upon oral promises to support a fraud claim against its lender even when such oral promises contradict the written agreement.

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It's Time to Adopt a Unified Voice for Housing

03/04/13

The best way to meet the needs of consumers and communities is to once again have the private sector play the lead role in the housing market, led by responsible local lenders.

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Too Cool for School Specialty - Alternative DIP Financing Allows Educational Company to Avoid Immediate Sale

03/04/13

The School Specialty chapter 11 case began in what has become all too typical fashion. The company, overleveraged and short of cash, had no choice but to accept a lifeline extended by its second lien secured lender, a private investment fund. The terms of the debtor in possession (“DIP”) financing

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