Bankruptcy Blogs

Decision in New Century TRS Holdings, Inc. Holds That Publication in 2 Newspapers is Insufficient to Grant a Motion for Summary Judgment

06/15/11

Summary

In a 14 page opinion published June 7, 2011, Judge Carey ruled that publication of notice in only two newspapers was insufficient information to grant a motion to dismiss based on adequacy of notice. Judge Carey’s opinion is available here (the “Opinion”).

Background

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Chapter 7 Trustee Wants Debtors To Move Out And Turn Over Upside Down House

06/15/11

Some bankruptcy trustees have been trying to force  debtors’ to turn over possession of  real property even when the property appears to be under water. It seems that these bankruptcy trustees want to see if they can find a buyer and/or negotiate concessions or payment from the mortgage lender.

 A recently decided district court case in the Middle District of Florida considered a Chapter 7 bankruptcy case wherein a trustee wanted debtors to surrender and move out of their upside down homestead so that the trustee can market the property.

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Fed Backing Giving 'Too Big' Banks Too Big a Funding Edge

06/15/11

As long as the markets perceive the continuation of TBTF they are giving a funding advantage to those firms, with all of the distortion of risk pricing that comes with that.

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Keeping Pace With Chapter 11's "New Normal"

06/15/11

I am serving this year on the Editorial Advisory Board for the Journal of Corporate Renewal, published by the Turnaround Management Association and available to all TMA members.   My guest editor's column for the June issue, "Keeping Pace With Chapter 11's 'New Normal'", is available here. 

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Keeping Pace With Chapter 11's "New Normal"

06/15/11

I am serving this year on the Editorial Advisory Board for the Journal of Corporate Renewal, published by the Turnaround Management Association and available to all TMA members.   My guest editor's column for the June issue, "Keeping Pace With Chapter 11's 'New Normal'", is available here. 

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The Daily Docket: Extended Stay Trustee Sues Over ‘Tainted’ $8 Billion Buyout

06/15/11

Eight months after emerging from Chapter 11 protection, Extended Stay Inc.’s prior owners and lenders—including Blackstone Group LP, are being sued over the $8 billion leveraged buyout that preceded the hotel chain’s bankruptcy. Read the Daily Bankruptcy Review story here.

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Linden Ponds, Inc. & Hingham Campus, LLC File for Chapter 11 Protection in Texas

06/15/11

Affiliated entities Linden Ponds, Inc. and Hingham Campus, LLC voluntarily filed for chapter 11 protection earlier today in Dallas.  The companies, which are related to Senior Living Retirement Communities LLC (formerly known as Erickson Retirement Communities, LLC), operate Linden Ponds which is a 108-acre continuing care retirement community located inHingham, Massachusetts (approximately 20 miles outside of Boston).  As of [...]

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Relationships Are Hard, Especially with Regulators

06/14/11

The supervisory relationship is, in its way, stronger even than the bonds of matrimony. There are no divorces in banking. Despite the many temptations, and even the occasional justifications, bankers cannot indulge their passions and treat examiners harshly.

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Approving Loans Is a Risky Role for Bank Directors

06/14/11

The dilemma for community bank directors is to choose between minimizing their personal liability and the useful function that board reviews of individual loans can serve.

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