Bankruptcy Blogs

Bankers Should Want Customers to Know Their Names

08/09/12

Almost everyone has a bank. Fewer and fewer have a banker. Here's why that needs to change.

[more]

Company That Helped Demolish Yankee Stadium Collapses in Bankruptcy

08/08/12
Associated Press
Construction equipment sits amid debris during the demolition of the old Yankee Stadium, which Demco Inc.
[more]

Betsey Johnson to Launch Spring Dress Line

08/08/12
Melanie Cohen

Betsey Johnson fans, take heart—and make that heart hot pink with a punk-rock edge.

[more]

Principal Forgiveness: The Good, the Bad and the Ugly

08/08/12

The mortgage-writedown program that the FHFA rejected would have produced little benefit to the housing market. But principal forgiveness, done right, can do a lot of good while minimizing potential harm.

[more]

Centralizing Overdraft Lawsuits Was an Expensive Failure

08/08/12

The multidistrict litigation process lumped together disparate overdraft cases in a "one size fits all" approach. As a result, it did not achieve the salutary goals the judicial panel set out to accomplish and must be judged an expensive failure.

[more]

StanChart Strikes Back at Rebel Regulator; U.K. Examines Banking Culture

08/08/12

Receiving Wide Coverage ... StanChart Revisted: Remember how New York regulators were accusing Standard Chartered of helping Iranians launder $250 billion, but the British bank was only acknowledging $14 million in improper transactions? According to the FT, the discrepancy stems from StanChart's belief it used an exemption to U.S. sanction law, known as a U-turn. This exemption allowed banks operating in the U.S. to process transactions from rogue nations such as Iran so long as they...

[more]

The Daily Docket: Pinnacle Says Shareholders Jeopardized Restructuring

08/08/12

Pinnacle Airlines Corp. is accusing hedge fund and shareholder Meson Capital Partners LP of putting its reorganization at risk in order to squeeze value out of shares that are expected to be worthless. Read the Daily Bankruptcy Review article here.

[more]

Should U.S. Tell Foreign Banks Who They Can Do Business With?

08/07/12

As Standard Chartered deals with the fallout over accusations it laundered money for Iran, some wonder if Washington has been overreaching.

[more]

ResCap Examiner Bill Could Reach $36M

08/07/12

The bill for former bankruptcy judge Arthur J. Gonzalez’s probe into mortgage lender Residential Capital LLC’s dealings with its government-owned parent, Ally Financial Inc., could reach $36 million.

That’s the high estimate for the team of investigators and lawyers Gonzalez has assembled (which includes high-priced legal talent from Chadbourne & Parke and advisers from Mesirow Financial Consulting), according to bankruptcy filings.

[more]

What Banks Need to Know About ATL's ATM Patent Infringement Claims

08/07/12

It is best not to ignore Automated Transactions' ATM patent infringement claims. Instead, take proactive steps to determine what course of action is best suited for your financial institution.

[more]