News Topic: CreditSlips

Creditors owed identical amounts under identical defaulted Argentine bonds, including identical pari passu clauses, could get very different recoveries under the plaintiffs' theory of ratable payment--unless all such creditors are corralled into a ... Read full article

Congrats to Credit Slip’s Adam Levitin for winning a prestigious honor! Of course, this award is well deserved. The American Law Institute announced today that Adam Levitin of Georgetown Law Center has been awarded its Young Scholar’s Medal.  ALI says ... Read full article

Surprise, surprise -- NML and colleagues would just as soon pass on Argentina's offer of 2010 restructuring terms . Plaintiffs' submission (ahead of schedule) is full of the sort of language I love to learn in this case and deploy ... Read full article

Remember the $3.6 billion settlement the government made with huge lenders accused of wrongful evictions and other abuses? Wronged homeowners are beginning to get their settlement checks in the mail, only to find that some of them bounce. That’s right. ... Read full article

I always figured that Elizabeth Warren was the first bankruptcy lawyer to serve in the Senate.  Turns out that there's at least one other.  (I'm not counting Senators who have served as Chapter 7 trustees.) Anyone know who?  I'll post the ... Read full article

In the fict ... Read full article

Italy does not do things half-way. Of all the pari passu clauses on the planet, it had the one that most definitely, unambiguously, no-two-ways-about-it promised ratable payment to its bondholders. In English. Just search for "ratably" here ... Read full article

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Brian Leiter's been running a poll about what areas of law and legal study deserve more attention from the legal academy. I was rather surprised by the choices in the poll: areas that I've always thought are well-covered like family law are ... Read full article

Some readers might enjoy this PBS video about a Northern Vermont company that helps people weather financial storms with small loans. Rhino Foods in Burlington found that employees in financial strain were not as good at their jobs and that the small ... Read full article

Readers might recall that back in November, I blogged about a case in which the unconscionability doctrine was used to invalidate one lender’s entire book of payday and installment loans. The post described how the court found that FastBucks employees ... Read full article

The European Commission's Financial Se ... Read full article

I find recent court action in NML v. Argentina  much more intriguing than Argentina's proposal last Friday to reopen its 2010 debt exchange. ... Read full article

Hot of the presses that the EOUST has (again) suspended its "required" debtor audits due to budgetary constraints.  Initially they were supposed to do 1 in every 250, and that number fell in recent years to one in every 1,500 or so due to ... Read full article

The many interesting comments left by our informed readership help make Credit Slips one of the best places on the Internet for informed discussion about debt and bankruptcy issues. The many spam comments make Credit Slips a less useful resource. ... Read full article

Judging by an ... Read full article

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As Lauren's work has detailed, there's a veritable financial literacy industry in the United States. The CFPB is even charged with undertaking certain financial literacy initiatives.  As it turns out Singapore is a full decade ahead of us on ... Read full article