Bankruptcy Blogs

Jamie Dimon Has Led JPMorgan on a Chase to the Bottom

05/14/12

That $2 billion trading loss is just last week's headline. Is Chase so big and complicated that no CEO could apply, teach and enforce decency and the smell test?

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ResCap Bankruptcy Papers List Largest Creditors

05/14/12

Ally Financial Inc. placed its ResCap mortgage subsidiary into bankruptcy early Monday in an attempt to jettison what has long been a drag on its business.

ResCap’s initial bankruptcy filings also list the company’s largest unsecured creditors, a group that includes a number of bondholders, pension funds and other institutional investors. The company listed assets of $15.7 billion and debts of $15.3 billion.

Judge Martin Glenn of the U.S. Bankruptcy Court in New York has been assigned the case.

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The Daily Docket: Ally Puts ResCap Into Bankruptcy

05/14/12

Ally Financial Inc.’s troubled mortgage subsidiary filed for Chapter 11 bankruptcy early Monday, potentially paving the way for Ally to sever itself from substantial litigation that has been a drag on its other operations and prevented it from repaying the remainder of its government bailout. Read The Wall Street Journal here.

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What JPMorgan Still Needs to Explain

05/14/12

Shareholders, creditors, counterparties and regulators deserve to know more about the causes of that $2 billion trading loss.

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Will 'Egregious' Error Sway the Say-on-Pay Vote at JPMorgan?

05/13/12

Until now, there was no expectation that anyone at Tuesday's shareholder meeting would complain about the enormous booty Jamie Dimon earns. The $2 billion trading loss changes everything.

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Small Banks Are Big Banks' Pawns in Assault on Dodd-Frank

05/11/12

If community banks aren't willing to separate themselves from their larger counterparts, they risk appearing to be agents - or dupes - of the bigger banks.

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The Broke and the Beautiful: T.O. Edition

05/11/12

This week on The Broke and the Beautiful, Terrell Owens opens up to famed talk-show host Dr. Phil, and the Phoenix Coyotes might be ending its period of NHL ownership. Also this week, Gary Busey has a new job.

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Washington Set Banks Up for the Binge

05/11/12

The government filled a cookie jar, watched as the jar was emptied and then had to bring the fattened raiders back to health. Who was most at fault, those who provided the cookies or those who ate them?

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The Daily Docket: Publisher Houghton Mifflin to File for Bankruptcy

05/11/12

Houghton Mifflin Harcourt Publishers Inc. has formed an agreement with a majority of its creditors to eliminate $3.1 billion of debt, marking the publisher’s latest effort to tackle a heavy debt load in the face of weak textbook demand. Read the Dow Jones Newswires story here.

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