CreditSlips

Why Aren't All Judicial Recusal Lists Public?

07/15/21

Judges sometimes have to recuse themselves from hearing cases because of financial or personal interests. Some of those conflicts can be spotted in advance, and judges will have standing recusal lists filed with the clerk of the court to keep those cases from being assigned to them in the first place. Of course, these recusals can be weaponized:  if there are two judges in a district, and I know that the son of one is a partner at local law firm, I can hire that firm as my co-counsel and ensure that the case will go before the other judge.

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The Sacklers Try to Strong Arm the Non-Consenting States with a Threat of Sanctions

07/15/21

Every time I think the Purdue Pharma bankruptcy couldn't get crazier, it does. The latest development is that some of the Sacklers (the Raymond branch) are seeking sanctions against five of the holdout non-consenting states for allegedly false statements in the states' proofs of claim. It's a blatant litigation tactic.

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Cheeky Cruise Company Lawyering

07/11/21

This past week’s episode of Andrew Jennings’ Business Scholarship Podcast tells a wonderful story of sneaky cruise ship lawyering. Andrew’s guest was John Coyle, contracts/choice-of-law guru. The discussion focused on the 11th Circuit’s recent decision in Myhra v.

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(Why) Are ESG Sovereign Bonds (Such) Scams?

07/09/21

Mark Weidemaier and Mitu Gulati

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Available now, wherever books are sold.

07/08/21

I'm pleased to announce the publication of the second edition of American Business Bankruptcy. Now featuring coverage of the Small Business Reorganization Act (subchapter V) and a nifty endorsement from a fellow Slipster.

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Let Consumers Control Their Financial Data

07/06/21

I have an op-ed out in The Hill about who should control consumer financial data. Consumer financial data is basically the most valuable type of consumer data you can find because it is so easy to monetize. Not surprisingly, banks have been very reluctant to let consumers share their data with nonbanks (or other banks). Fortunately, there's a tool for addressing this issue.

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Purdue Retaliates Against the Parent of an Opioid Victim Who Dares to Speak Out

07/03/21

Another recent Purdue docket item caught my notice. It is an order approving a settlement between Peter Jackson, the parent of a teenage opioid overdose victim, and Purdue and the Personal Injury Ad Hoc Committee regarding discovery requests that Purdue and the PI Ad Hoc Committee served on Mr. Jackson.

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Getting Ahead of Consumer Loan Defaults Post-Pandemic

07/01/21

On this Tuesday, the Supreme Court refused to lift a ban on evictions for tenants that the Centers for Disease Control and Prevention recently extended through the end of July. The eviction moratoria is one of a handful of debt pauses put in place by the federal government during the COVID-19 pandemic that are set to expire soon. The student loan moratorium ends on September 30.

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District Judge to Purdue: "You Don't Get to Choose Your Judge"

07/01/21

"[Y]ou don't get to choose your judge." That's what US District Judge Colleen McMahon wrote to Purdue Pharma, in response to a letter Purdue had written to her addressing a possible motion to withdraw the reference to the bankruptcy court for a third-party release and injunction. 

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Collins v. Yellen: the Most Important (and Overlooked) Implication

06/28/21

The Supreme Court's decision in Collins v. Yellen has garnered a fair amount of attention because it resulted in a change in the leadership at the Federal Housing Finance Agency and largely dashed the hopes of Fannie and Freddie preferred shareholders in terms of seeing a recovery of diverted dividends. But the commentary has missed the really critical implication of the decision:  the Biden administration can undertake a wholesale reform of Fannie and Freddie by itself without Congress.

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