Bankruptcy Blogs

Means Test Fail

09/25/12

As has been widely reported, the football coach of the University of Arkansas Razorbacks, John L. Smith, has filed chapter 7 bankruptcy. ESPN summarized his financial circumstances:

Arkansas coach John L. Smith is trying to wipe away $25.7 million in debt in
bankruptcy court and hang onto $1.2 million in retirement accounts and
some personal property . . . .

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Bankruptcy Attorney Accused of Using Client Credit Cards, Records

09/25/12

“Just making sure your ok and remember that everything is going to be ok,” Bradley F. Aubel texted his employee of 10 years in July 2011.

Mr. Aubel, a bankruptcy attorney from Vernon Hills, Ill., is probably good at reassuring after having helped numerous struggling clients navigate the often-daunting Bankruptcy Code.  But the exchange, detailed in court documents unsealed last week, didn’t provide much reassurance to the employee.

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It's Not Ben Bernanke's Fault the Economy Is Stagnant

09/25/12

The Federal Reserve chairman has the correct diagnosis, but limited tools to solve the problem. Meanwhile, inflation hawks are trying to cure the nation from a disease it doesn't have.

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Creditors Plan To Snatch Assets From Bankruptcy Trustees

09/25/12

http://www.flickr.com/photos/psykotrooper/

Creditors are starting to talk up how to snatch assets away from bankruptcy trustees who don’t even know they’re coming.

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Lehman to Pay Legal Fees of Paulson Group, Goldman

09/25/12
European Pressphoto Agency
John Paulson

A number of Wall Street banks and hedge funds—including G

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Fincen's New Leader Should Strike a Delicate Balance

09/25/12

Fincen must be independent enough to be an honest broker in its rulemaking and enforcement network roles, while remaining responsive to the policy objectives of Treasury and statutory mandates from Congress.

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IMF's Lagarde to U.S.: 'You Need to Deal with the Fiscal Cliff,' The Great Libor Debate Continues

09/25/12

Receiving Wide Coverage ...

Global Threat on the Horizon: The central banks' efforts are all well and good, but the U.S. and European governments will need to do more to prevent global growth from screeching to a halt, says International Monetary Fund managing director Christine Lagarde. In an address at the Peterson Institute for International Economics, Lagarde warned the IMF may cut its estimates of global growth again this year during its meetings in Japan next...

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Understanding Client Needs

09/25/12

Attorneys who look past strategies to identify the underlying needs of their clients, strengthen relationships in the moment and generate creative solutions for their clients and their practice. I’ve learned to do this in my Charlotte bankruptcy practice, to great results. When we think about needs, we tend to think about things like money, time, [...]

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The Daily Docket: FDIC Spars with Dead Banks for Tax Refunds

09/25/12

The Federal Deposit Insurance Corp . is continuing its courtroom battle with creditors of a number of the former holding-company parents of failed banks over the ownership of billions of dollars in tax refunds and other assets left behind in the wake of the financial crisis. Read the Daily Bankruptcy Review story here.

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The Cure for the Banking Industry, Part II: More Private Capital, Less Public Risk

09/25/12

The banking system should not be used to hide the cost of Congress's social programs.

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