Andrew Ross Sorkin is waiving his arms about the Starr v. Board of Governors ruling being the "end of bailouts." And he is SO wrong. Sorkin writes that "Legal experts say that the ruling, coupled with certain provisions of the Dodd-Frank ... Read full article
Senator Warren has written a pretty stinging rebuke of the ineffectiveness of Mary Jo White as SEC Chair. The take-away from Senator Warren's letter is that it's time for MJW to go: the SEC needs new and effective leadership. The SEC was asleep ... Read full article
There can be little doubt Nortel wins the title for the cross-border insolvency case of the young century. Not only is it a huge case (US$7B or so), but as I noted in my last post it has established several milestones, including a joint televised trial in ... Read full article
The Supreme Court ruled unanimously in favor of Bank of America in Caulkett v. Bank of America . Basically the Court found itself bound by its previous decision in Dewsnup and didn't think that any of the distinctions presented (by yours truly ... Read full article
Apparently there is a business of rent-to-own hair weaves . As a bald man, this is of particular interest. Below is a description of some of the program: ... Read full article
In case you haven't seen it, the SCOTUS issued its unanimous opinion in Harris today, holding that postpetition wages held by the Chapter 13 trustee at the time a case is converted to Chapter 7 must be returned to the debtor. ... Read full article
Now up on Dealb%k . ... Read full article
The Illinois Supreme Court issued its unanimous opinion this past Friday putting a stake through the heart of the legislature's latest attempt to evade its responsibility for woefully underfunding four of the state's five public pensions. ... Read full article
My thoughts on whether the Bankruptcy Code should be amended to allow easier discharge of student loan debt are upon The Examiners at the Wall St. Journal . Short of it is yes for private student loans, no for public student loans. ... Read full article
And the business model that will likely leave them unable to pay students, even if the students win in their ongoing litigation, over at Dealb%k. ... Read full article
Over at Dealb%k I talk about the confusing state of affairs regarding Dodd-Frank Orderly Liquidation Authority and the FDIC's new "single point of entry" (SPOE) approach to OLA. ... Read full article
You may have heard it. It was on the radio the last three mornings as I drove to work. It goes, "I got bills I gotta pay, so I'm gonn' work work work every day." It made me think about bankruptcy (naturally). And it is really catchy. ... Read full article
Should liability under the Fair Debt Collection Practices Act (FDCPA) lie against a creditor who submits a proof of claim past the statute of limitations in a consumer bankruptcy case? ... Read full article
Here's an early obit . It's hard for me to imagine a chapter 11 world without Harvey Miller. Although the adjective is over-used, I think it would be difficult to argue the man was not transformative to bankruptcy law. He was an incredible ... Read full article
Over the last few years, the US Department of Justice has reached settlements with nearly every major lender with regard to the lending procedures for FHA (Federal Housing Administration) loans. The legal basis for the settlements were alleged violations ... Read full article
Thanks to the folks who run Credit Slips for the opportunity to post. I hope to be back in a few months with musings about the following: ... Read full article
Chapter 11's ability to empower true reorganization has received much criticism of late in light of an increasingly held assumption that most Chapter 11 cases end in a 363 sale of the debtor's assets. Around this time last year, the American ... Read full article
