News Topic: CreditSlips

by Mark Weidemaier & Mitu Gulati ... Read full article

I confess that, on its face, this did not strike me as the most exciting topic to read about (and that comes from someone who writes about the incredibly obscure world of sovereign debt contracts).  After all, who even knows what EBITDA definitions are?  ... Read full article

It's funny how what goes on in one bankruptcy case can sometimes point to looming issues in another. The PG&E plan exclusivity fight suggests an interesting dynamic looming in Purdue:  Purdue's own plan exclusivity could expire, which would ... Read full article

Coen, Andrew. The Bond Buyer ; New York, N.Y., 30 Sep 2019: Assured Guaranty, which insures a large amount of Puerto Rico debt, came out against the plan. “Assured Guaranty does not support this plan of adjustment as it is premised on a number of terms ... Read full article

So the debt restructuring plan is out. The New York Times indicates that the Oversight Board aimed to put the Commonwealth's debt at "less than" the average of the ten most indebted states. Not exactly a "fresh start" there, is ... Read full article

Twenty years after taking out student loans, white borrowers have paid 94% of their debt (at the median.)  Black borrowers, on the other hand, have paid 5%. While a disturbing 20% of white borrowers defaulted on student loans at some point during twenty ... Read full article

Matt Levine is my favorite financial journalist to read on a regular basis because he is so darn funny (yes, there is lots of substance too, but I'm shallow and want to be entertained as well). Today's piece though, especially to someone who ... Read full article

Two aspects of the Small Business Reorganization Act of 2019 intrigued me as I looked more closely at this important new twist on Chapter 11 for the other 99%. ... Read full article

By filing a bankruptcy petition last week, Purdue Pharma is automatically protected against many types of collection and litigation by operation of federal law. Seeking to turn this already-potent shield into something more formidable, the company has ... Read full article

The National Conference of Bankruptcy Judges' annual conference is happening soon – Wednesday, October 30 through Saturday, November 2. I'm delighted to be part of this year's education committee. The 2019 conference features some panels ... Read full article

I have filed an amicus brief  regarding "valid-when-made" in Rent-Rite Super Kegs West, Ltd. v. World Business Lenders, LLC . ... Read full article

FDIC and OCC filed an amicus brief  in the district court in an obscure small business bankruptcy case to which a bank was not even a party in order to defend the validity of a 120.86% loan that was made by a tiny community bank in Wisconsin (with its own ... Read full article

It's been quite a week for "valid-when-made (up)". ... Read full article

One of the major issues in the Purdue Pharma bankruptcy is how much the Sackler family, which (indirectly) controls Purdue will contribute in order to get releases from opioid liability. (Relatedly, are such non-debtor releases allowed outside of the ... Read full article

Is there a drafting error in the Small Business Reorganization Act? The other day I posted my estimate that 42% of chapter 11's would qualify , but my sharp-eyed colleague, Ralph Brubaker, noticed something wonky (in all senses of the word) in the ... Read full article

In America, people drive — to work, to the doctor, to the grocery store, to their kids' daycare, to see their aging parents. Research shows that car ownership increases the probability of employment and number of hours worked; households without cars ... Read full article

The Small Business Reorganization Act of 2019 adds a new subchapter V to chapter 11 for small businesses. The new subchapter gives small businesses the option of choosing a more streamlined -- and hence cheaper and quicker -- procedure than they would ... Read full article

I loved the first season of HBO’s Succession .  Superb acting, great sets, and a story about a totally dysfunctional family (that makes me think that my own dysfunctional one is relatively functional).  Plus, the really really rich and despicable people ... Read full article