Sears is supposedly considering trying to raise liquidity through the post-petition sale of intracompany debt . The details of the debt and the proposed transaction aren't clear, but as a general matter, the post-petition sale of intracompany debt ... Read full article
It seems no surprise that President Trump has named Matthew Whitaker as Acting Attorney General: it turns out that he's a Mini-Trump. There are two rather remarkable parallels to Trump in Whitaker's history. First, his involvement with the ... Read full article
The Supreme Court granted cert today in the bankruptcy case of Mission Product Holdings v. Tempnology, LLC . It sounds like another one of those cases only bankruptcy nerds can love, but it has potentially broad implications. On its face, it is about ... Read full article
Education Corporation of America filed a legal action in federal district court last week claiming financial distress, seeing to enjoin its creditors and restructure its debt. Sounds like Chapter 11, right? But no. ... Read full article
There's a big story in the NY Times about how the financial structures being used to finance many corporate loans —so-called Collateralized Loan Obligations or CLOs—look very similar to those used to finance mortgages during the housing bubble. ... Read full article
Acting BCFP CFPB Director Mick John Michael Mulvaney announced this week that the CFPB would be undertaking a rulemaking to define "abusive," the third part of the UDAAP triad . ... Read full article
Various tax law scholars have commented on the tax fraud allegations in the recent New York Times story. Equally important is the story's reminder that our housing finance system, and the real estate fortunes it has spawned, have depended for nearly ... Read full article
The US Education Department is assigning the complex task of monitoring the employment and the on-time payments of Public Service Loan Forgiveness aspirants to its worst-performing servicer. USED has contracted with servicing company FedLoan, affiliate of ... Read full article
At long last, the World Bank Group's insolvency and debt resolution team has finally released to the public its report on the treatment of the insolvency of micro-, small-, and medium-sized enterprises, ... Read full article
In this morning's email: Moody's Investors Service downgraded its Probability of Default Rating (PDR) for American Tire Distributors, Inc. ... following the company's announcement that it had initiated Chapter 11 bankruptcy proceedings... ... Read full article
Frustrated that Congress did not decide to collapse the CFTC and SEC as part of Dodd-Frank, and facing the reality that the SEC is still working on its rules under Title VII of Dodd-Frank, ISDA, the swaps industry trade group, is out with a white paper ... Read full article
20,521 applications rejected as ineligible. 96 borrowers approved . Those are the early results for the Public Service Loan Forgiveness program. PSLF promised student borrowers with federal Direct Loans who worked in qualifying public service jobs that ... Read full article
Barry Ritholtz has a generally sensible column about the ten-year anniversary of the financial crisis, but the bankruptcy stuff really makes no sense at all. Start with this proposition: I believed then (and still believe) that the best course of action ... Read full article
Ukraine and Russia have been battling it out in English courts over whether Ukraine must repay a $3 billion Russian loan from 2013. The loan was unusual both in structure and in substance . ... Read full article
I'm pleased to announce that the second edition of my casebook, Business Bankruptcy: Financial Restructuring and Modern Commercial Markets , is now in print and available for purchase from quality establishments such as Amazon . ... Read full article
I'm very excited to announce the publication of a new book, Consumer Finance: Markets and Regulation . The book (also available on Amazon ) is the first consumer finance textbook in existence. ... Read full article
In a prior Credit Slips post , I shared a paper, Corporate Bankruptcy Hybridity , positing that bankruptcy should be conceptualized as a public-private partnership. ... Read full article
Since my last Credit Slips post about The Weinstein Co. chapter 11, there have been five public hearings/status conferences (some of which were telephonic). Disparate observations from those hearings below. ... Read full article
