CreditSlips

Debt Relief on Day One

11/24/20

In a comprehensive review of existing student loan cancellation laws, Demos, the Student Borrower Protection Center, and the UCI Student Loan Law Initiative have compiled an impressive report and road map for the incoming Administration.

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The OCC Stands Up for Fossil Fuels, Gun Makers, Opioid Manufacturers, and Payday Lenders

11/20/20

Those wascally wabbits at OCC are back at it again in the waning light of the Trumpshchina. The OCC has proposed a rule on "Fair Access to Financial Services." 

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Update on Churches Filing Chapter 11 Bankruptcy

11/04/20

As parts of the country are counting ballots, I thought I'd post about counting church chapter 11 cases. The headlines about churches and other religious organizations filing chapter 11 still focus predominately -- almost exclusively -- on Catholic Diocese filings.

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Personal Bankruptcy Arrives in China in March 2021

10/26/20

The process I noted in an earlier post has come to fruition, and the Shenzhen special economic zone will introduce the first personal bankruptcy law in China, effective March 1, 2021.

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SDNY Upholds Pledge of Collateral for PDVSA 2020s

10/16/20

Today, Judge Failla of the Southern District of New York issued an opinion rejecting PDVSA's request for a declaration invalidating the PDVSA 2020 bonds.

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New Greek Bankruptcy Code

10/08/20

Responding to an EU Directive and what was likely already a long-simmering plan to revise a not entirely satisfactory patchwork of constantly shifting bankruptcy and insolvency laws, the Greek government recently released a draft of a new Code for

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The Sideshow about Venezuela's Prescription Clause

09/29/20

Mark Weidemaier and Mitu Gulati

We’ve written before about the perplexing prescription clause that appears (in one form or another) in Venezuela’s bonds. A common version of the clause says something like this:

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Argentina-Inspired Reforms to Sovereign Debt Contract Terms (Yes, Again)

09/29/20

In terms of innovations in the boilerplate of sovereign debt contract terms, Argentina is the gift that keeps on giving (and giving and giving).  At least within my lifetime, its behavior has inspired more contract innovation than any other country (even Ecuador, that probably comes a close second).

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Trump's Personal Guaranties and Liquidity

09/28/20

The revelations about Donald Trump's taxes might hold in them an explanation for why he didn't divest from his businesses when he became President, despite the obvious political problems that was going to create:  he couldn't afford divesting.  

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