News Topic: CreditSlips

Certain members of the bankruptcy academy and bar seem to have their knickers in a twist over the Supreme Court’s grant of certiorari to review the nonconsensual nondebtor releases in Purdue. Conventional wisdom is that SCOTUS is going to find that ... Read full article

This story about the failure of a company that ships duffel bags to/from sleep-away camps has an interesting payment systems meets bankruptcy angle that got me particularly excited given that I'm teaching payment systems this fall: ... Read full article

Freight company Yellow is on the verge of bankruptcy. It's not a company whose financial distress would normally stand out but for the fact that it received $700M in national security loans from the US Treasury in 2020, and, oh man, are taxpayers ... Read full article

The Washington Post has a big piece up about Axos Bank being the lender-of-last-resort for Donald Trump . But those us who work in the consumer finance space, know of Axos as a notorious bank partner in rent-a-bank arrangements . ... Read full article

The Center for Consumer Law & Economic Justice at Berkeley Law has announced the call for abstracts for the 2024 Consumer Law Scholars Conference . Abstracts are due by September 8, 2023, for the conference scheduled for February 29-March 1, 2024. The ... Read full article

Many countries have attempted to tap their diasporas by issuing bonds.  This has particularly been the case in times of dire need (wars, pandemics, international sanctions, financial crises, and more).  Ukraine is the most recent to have attempted to do ... Read full article

The SEC has finally brought its long-anticipated lawsuit against Coinbase. The suit alleges that Coinbase has operated as an unregistered securities broker, an unregistered securities exchange, and an unregistered securities clearing agency, and that it ... Read full article

The Commercial Law League of America is holding a virtual event next week, free of charge and open to all, on broader implications of the Second Circuit's Purdue Pharma decision. ... Read full article

Yesterday's 2nd Circuit opinion reconfirming Purdue Pharma's settlement/restructuring plan is an enlightening read for those interested in third-party releases. ... Read full article

The commentary on the debt ceiling standoff has featured a bunch of mistaken conceptions from across the political spectrum. Let's address them.  Myth #1:  The 14th Amendment Prohibits a Default A variety of commentators claim that the 14th Amendment ... Read full article

Anna Gelpern, Stephen Lubben and I have an article in The American Prospect entitled The Debt Limit Is Unconstitutional—but Not for the Reason You Think . ... Read full article

This fall the Supreme Court will be hear a case captioned Community Financial Services of America v. Consumer Financial Protection Bureau, dealing with the constitutionality of the CFPB's funding mechanism. I'm pleased to announce that Patricia ... Read full article

Anna, Adam, and myself have a piece up on Alphaville about section four of the 14th Amendment, which is all the rage these days. ... Read full article

When I was a law student the rule I learned about secured claims was that they accrue post-petition interest and attorneys' fees (if provided for by contract or statute) up to the amount of the value of the collateral that exceeds their claims, but ... Read full article

Today was the first day hearing for LTL 2.0. ... Read full article

This post is a joint post by Hon. Judith K. Fitzgerald (ret.) [*] and Adam Levitin Here we go again. Precisely one hour and thirty-nine minutes after the dismissal of the bankruptcy filing of LTL, Johnson & Johnson’s artificially created ... Read full article

In a few hours, I'll have the pleasure of hosting CFPB Director Rohit Chopra for a virtual talk at UCI Law (today at 12pm PDT, 3pm PDT). You can still join us by registering for the Zoom link here . ... Read full article

A mid-sized regional bank specializing in lending to tech start-ups, crypto companies, or law firms hardly seems of systemic importance, even if its failure would have caused disruption in some industries regionally and might have triggered a cascade of ... Read full article