Bankruptcy Blogs

The Financial Crisis Is Now Considered a Historical Period, Just Like the Roman Empire

02/11/13

Receiving Wide Coverage ...

Barclays Restructuring: After six months on the job, CEO Antony Jenkins will announce a restructuring on Tuesday that "is expected to leave the bank's strategy largely intact," according to the Journal. The British giant's investment bank will slash 2,000 jobs, or 10% of the unit's workforce, and activities that aren't "socially useful" may get the ax, such as "transactions that have no business purpose other than reducing taxes." (Nevertheless, Barclays "will continue...

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Want to Keep Your Bank Out of Trouble? Easy, Don't Lie

02/11/13

Most of the losses banks have caused and suffered could be greatly reduced or eliminated without relying on complex regulations and elaborate risk management. Just promulgate and enforce one simple rule: we tolerate no lying.

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8 Must Do Tasks For Your Life After Bankruptcy

02/10/13

After Bankruptcy To Do'sGot your bankruptcy discharge?  

Great!  You’re on your way to a fresh start.

Now you’ve got work to do.

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After Bankruptcy–We Garnish Bank of America

02/08/13

Bank of America wouldn’t fix Ed and Ann’s credit reports after bankruptcy.

Our disputes were ignored, so we sued.  The judgment was ignored, so we’re garnishing.

Here’s the whole story.

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Biofuel Scandal Pushes Trading Firm Into Bankruptcy

02/08/13

A trading firm that accidentally sold millions of dollars worth of fake biofuel credits has filed for bankruptcy, fueling pressure on environmental regulators to fix the fraud that’s infected that market.

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Imminent Foreclosure Grounds For Waiver Of Pre-Petition Counseling Certificate

02/08/13

In In re Stanley, 2012 Bankr. LEXIS 6031 (Bankr. N.D. Ga. Nov. 8, 2012), the debtors certified that they tried to obtain credit counseling but were unable to complete it because they needed to file their Chapter 13 petition to stop a foreclosure the same day.  Debtors requested a waiver and deferment of the counseling requirement under Section 109(h)(3)(A), which provides the following:

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Imminent Foreclosure Grounds For Waiver Of Pre-Petition Counseling Certificate

02/08/13

In In re Stanley, 2012 Bankr. LEXIS 6031 (Bankr. N.D. Ga. Nov. 8, 2012), the debtors certified that they tried to obtain credit counseling but were unable to complete it because they needed to file their Chapter 13 petition to stop a foreclosure the same day.  Debtors requested a waiver and deferment of the counseling requirement under Section 109(h)(3)(A), which provides the following:

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Apologies for Bankruptcy

02/08/13

My colleague, Jennifer Robbennolt, and I have posted a paper to SSRN exploring apologies in the bankruptcy context. Jennifer has done some of the leading studies on apologies in different legal contexts. Contrary to the instincts of many lawyers, apologies tend to produce better outcomes for defendants. For example, victims who hear an apology are less likely to feel they need to invoke legal process and are generally more amenable to settlements.

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