Bankruptcy Blogs

Amex's Bluebird card account, exempt from Durbin and assertedly from bank regulation, is likely to generate high interchange. Consumers, banks and Amex won't pay for these checking accounts. Merchants (excepting Walmart) will.

On October 17, 2012, Satcon Technology Corporation and various of its subsidiaries (collectively, "Satcon") filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  Satcon's subsidiaries include Satcon Power Systems, Inc., Satcon Electronics, Inc., Satcon Power Systems, LLC, Satcon International and Satcon Technology.  As stated in Satcon's Declaration filed with the Delaware Bankruptcy Court (the "Decl."), Satcon provides "utility-grade power conversion s

We just passed the seven year anniversary for bankruptcy reform.  It is hard to believe that October 17 made for the seventh year since reform.  Most bankruptcy professionals would agree that reform has been a disaster.  There is such a greater cost and burden to a debtor who is simply trying to avail himself of a fresh start.  Adding insult to injury is the consumer protection element that has caused for strict scrutiny of reaffirmation agreement; unless your lender is a credit union, of course.  In that case, there is zero consumer protection.  That is unfortunately how the law is laid ou

Previous articles have discussed the fiduciary duties of officers and directors of companies in financial trouble (see articles here and here).