Bankruptcy Blogs

The Daily Docket: Hawker Strikes $600M Financing Deal

01/15/13

Hawker Beechcraft Inc. said it has struck a deal for $600 million in exit financing from lenders led by J.P. Morgan Chase & Co. to take it out of Chapter 11 protection. Read the Daily Bankruptcy Review article here.

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Regulators to JPM: Don't Ever Let Us Catch You Doing That Again

01/15/13

Receiving Wide Coverage ...

JPM's Parking Tickets: The Fed and OCC hit JPMorgan Chase with enforcement actions related to last year's $6 billion trading loss and inadequate anti-money laundering controls. The orders include no monetary fines or admission of wrongdoing, just remediation steps (wryly summed up by the FT's Alphaville blog: "Look into my eyes: you will implement the Action Plan.") Then again, as one journalist tweeted while the news was disseminating Monday afternoon, "in all...

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What I Learned from a South African Banker

01/15/13

The Basel III liquidity plan is the latest case of a global rule hostile to local realities.

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What To Do If You Are Dissatisfied With Your Bankruptcy Attorney

01/15/13

From time to time callers ask me bankruptcy questions when they have already hired an attorney to file their bankruptcy petition in the Orlando Division. When I suggest that they direct their question to their own attorney whom they have paid fees they usually respond that their own bankruptcy attorney either will not return their calls or has given them poor advice. What can a debtor do when he is dissatisfied with his bankruptcy attorney?

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QM Impact on the Mortgage Market

01/14/13

The American Banker has a story (paywalled) about the impact of the QM rule on subprime lending. Subprime loans are unlikely to qualify for the full QM safe harbor because they are typically priced at more than 150 bps above prime. This means that subprime borrowers now have a possible foreclosure defense if they can show that the lender failed to properly account for their ability to repay.

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Who Owns the MBS Claims? AIG or the Fed?

01/14/13

Alison Frankel has a great column today on the fight going on between AIG and the NY Fed about who owns the securities fraud claims associated with the MBS that AIG sold to the NY Fed (or more precisely, its Maiden Lane SPV) as part of its bailout. 

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Can the Purchase of Groceries be “in Furtherance of a Ponzi Scheme?”

01/14/13

By: Gabriella B. Zahn

St. John's Law Student

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ND Ga - Exception To Automatic Stay For Pre-Petition Writ Of Possession Only Applies In Landlord-Tenant Relationship

01/14/13

In In Re Higgs, Ch. 13 Case No. 12-76496-pwb, 2012 Bankr. LEXIS 6008 (Bankr. N.D. Ga. November 2, 2012), the Movant purchased a foreclosed property from the lender after a foreclosure sale.  Movant proceeded to obtain a writ of possession in the Magistrate Court to evict the Debtor, who was not the original borrower but who claimed he had a lease with another person who was also not the original borrower (but with the same last name).

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