CreditSlips

Churches Are Still Filing Bankruptcy

02/15/18

Not only are religious organizations still filing under chapter 11. As in prior years, they continue to file under chapter 11 in line with fluctuations in consumer bankruptcy filings. Find a couple graphs below to show this. But first, some background.

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Strip, Swap, Restructure

02/14/18

Mitu and I have been posting jointly of late about restructuring options for PDVSA and Venezuela.

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Wacky Warehouse Lien Scam

02/14/18

The US Trustee's office just prevailed in a sanctions case against a law firm with a most creative fee scam.  To oversimplify (and leave out certain other issues of bad behavior), the law firm steered debtors who owned cars in which they had zero equity into an arrangement in which the debtor's car would be towed for an (unpaid) fee by an affiliated firm and then stored in Indiana.

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Financial Education Isn't Consumer Protection

02/13/18

The CFPB is out with its Strategic Plan for FY 2018-2022, also known (without any apparent irony) as The Five Year Plan.  Lots to chew on in this doozy, starting with this:

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Catch Veinte Dos

02/12/18

A few days ago, Mark and I put up a post on the possibilities of using Chapter 15 bankruptcy for Venezuela's state-owned company, PDVSA.  In response, we received a number of terrific comments, both via email and in the comments section.

One of the particularly interesting points that was made to us (both in email and in one of the comments), that we had not raised was the following: 

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Trump’s “Draining the Swamp” Scorecard: One Year In

02/11/18

Donald Trump came into office promising, among other things, to “drain the swamp” and get rid of all that corruption.  One year in, how are things looking in terms of swamp draining? 

The following is based on work with my super co author, Stephen Choi, of NYU Law School.

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PDVSA's Debt Restructuring: The Chapter 15 Option

02/08/18

Mitu Gulati and Mark Weidemaier

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