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August 21, 2018 - 8 new headlines

Distressed Hospital Trend Continues and the Potential Impact on South Fla. Grows - Law.com

08/21/2018 Law.comDistressed Hospital Trend Continues and the Potential Impact on South Fla. GrowsLaw.comCGH filed Chapter 11 bankruptcy protection in 2017. It was then forced to close the hospital. Ultimately, the Bankruptcy Court approved the sale of the physical assets of the hospital to an entity that [more]
Tags: 363 Sales, News

The Ever-Shrinking Chapter 11 Case - Lexology

08/21/2018 The Ever-Shrinking Chapter 11 CaseLexologyMost observers of the world of chapter 11 bankruptcy cases – and particularly those professionals who practice in that arena – will not be surprised to learn that their individual experiences and anecdotal reports suggesting that the duration of [more]
Tags: News, Reorganizations

Facebook Users Demand Cambridge Analytica Secrets in Bankruptcy - Bloomberg

08/21/2018 BloombergFacebook Users Demand Cambridge Analytica Secrets in BankruptcyBloombergThe political consulting firm is winding down both in the U.K., its home country, and in a New York Chapter 7 bankruptcy case. Some of the dozens of Facebook users who sued it and Facebook in district court this year as [more]
Tags: Cases of Interest, News

Facebook Users Try Data Grab as Cambridge Analytica Evaporates - Bloomberg

08/21/2018 Facebook Users Try Data Grab as Cambridge Analytica EvaporatesBloombergThe political consulting firm is winding down both in the U.K., its home country, and in a New York Chapter 7 bankruptcy case. Some of the dozens of Facebook users who sued it and Facebook in district court this year as “data [more]
Tags: Liquidation, News

BBB Column: Obtaining a refund when items are sold under false pretenses - Post Register

08/21/2018 Post RegisterBBB Column: Obtaining a refund when items are sold under false pretensesPost Registern What to do with Chapter 7 bankruptcies. Under Chapter 7 bankruptcy law, the money gained from selling the company's assets goes first to back taxes, secured creditors and employees. That usually [more]
Tags: Liquidation, News

Appalachian Basin forging ahead, despite obstacles, law firm says - Kallanish Energy

08/21/2018 Appalachian Basin forging ahead, despite obstacles, law firm saysKallanish EnergyStabilization of commodity prices has resulted in fewer E&P companies filing for federal bankruptcy protection in the Appalachian Basin and across the United States. Bankruptcies down sharply. The number of U.S. [more]
Tags: Lawsuits, News

Fintech company Upsolve aims to be the TurboTax of bankruptcy - Bankrate.com

08/21/2018 Bankrate.comFintech company Upsolve aims to be the TurboTax of bankruptcyBankrate.comIn reality, bankruptcy can provide a fresh start — but it can be an expensive one for people who can least afford it. Because of legal and attorney fees, filing for Chapter 7 bankruptcy can cost as much as $4,000. [more]
Tags: Liquidation, News

PenAir CEO: Sale imminent, service continues - KTVA

08/20/2018 KTVAPenAir CEO: Sale imminent, service continuesKTVA“The Chapter 11 trustee submits that this expedited sale schedule is appropriate based on the amount of time the debtor has been in bankruptcy (almost exactly one year) and the debtor's quickly deteriorating cash position,” the company wrote. [more]
Tags: 363 Sales, News

Furniture Brands Trustee Worried By Heritage DIP Releases - Law360

08/20/2018 Furniture Brands Trustee Worried By Heritage DIP ReleasesLaw360 [more]
Tags: Lawsuits, News

Tampa judge considers Casey Anthony bankruptcy case - Fox 35 Orlando

08/20/2018 Fox 35 OrlandoTampa judge considers Casey Anthony bankruptcy caseFox 35 OrlandoTAMPA (FOX 13) - Long after Casey Anthony was acquitted for killing her daughter Caylee, the infamous defendant is still dealing with the fallout from her trial. In a Tampa federal courtroom today, Casey Anthony was back [more]
Tags: Cases of Interest, News

Blogs

Wells closes pro-pot pol’s account; impact of crytocurrency crash

08/21/2018 The bank said the candidate planned to accept money from the medical marijuana industry; the crash in digital currency prices’ long-term consequences. [more]
Tags: Ant Financial, Bankruptcy Blogs, BankThink, Cryptocurrencies, Federal Reserve, Marijuana banking, Morning scan, Penalties and fines, Trump administration

Banks network to flag human traffickers

08/20/2018 Bank of America and several other large U.S. financial services companies, as part an effort organized by the Thomson Reuters Foundation and Western Union, have published resources to help smaller banks spot signs of forced labor and kidnapping. [more]
Tags: , American Express, Bank of America, Bankruptcy Blogs, BankThink, Compliance, Deutsche Bank, Financial crimes, KYC, paypal, Thomson Reuters, Western Union

SEC forces cities to reveal bank loans with holdings surging

08/20/2018 The Securities and Exchange Commission moved to require states and local governments to disclose bank loans and privately placed debt, seeking to address concerns that bondholders are being left in the dark about a fast-growing segment of public finance. [more]
Tags: , Bankruptcy Blogs, BankThink, Munis, SEC

Can state AGs really serve as 'mini-CFPBs'?

08/20/2018 Several states pledged to compensate for a slowdown in enforcement at the Consumer Financial Protection Bureau under Mick Mulvaney, but their efforts have been complicated by tight budgets and doubts over whether such initiatives are necessary. [more]
Tags: , Bankruptcy Blogs, BankThink, CFPB, Enforcement, Fintech regulations, Licenses and charters, Mick Mulvaney, OCC, Payday lending, State regulators, Trump administration

Pro-pot Florida candidate says Wells Fargo shut her account

08/20/2018 A Florida politician who has run a pro-medical marijuana campaign said Wells Fargo closed her account over her ties to the industry, adding that the incident was an example of the challenges legal cannabis businesses face from the U.S. financial system. [more]
Tags: , Bankruptcy Blogs, BankThink, florida, Marijuana banking, Wells Fargo

Citi buys into future of artificial intelligence — literally

08/20/2018 Citigroup was so impressed after a two-year test drive of software from the AI vendor Anaconda it decided to invest in the firm. [more]
Tags: , Artificial intelligence, Bankruptcy Blogs, BankThink, Citigroup, Fintech, Machine learning, Venture capital, Venture funding

Lenders tread carefully in return to homebuilder finance

08/20/2018 A number of banks have stepped up efforts to lend to residential developers, though they are mindful of missteps made before the financial crisis. [more]
Tags: Bankruptcy Blogs, BankThink, Commercial lending, Commercial real estate lending, Community banking, Homebuilders, Regional banks

JPMorgan hires BofA exec to lead midsize business banking in Calif.

08/20/2018 In a newly created role, Tony Sciarrino will oversee middle-market bankers in more than a dozen offices across California. [more]
Tags: , Bank of America, Bankruptcy Blogs, BankThink, Commercial lending, JPMorgan Chase

Fed's head of research to retire at year-end

08/20/2018 As director of the Fed's Division of Research and Statistics, David Wilcox is responsible for briefing the Federal Open Market Committee on the outlook for the national economy. [more]
Tags: , Bankruptcy Blogs, BankThink, Career moves, Economic indicators, Federal Reserve, Jerome Powell, Policymaking, Succession planning

Bank lobbyists’ hollow campaign against credit unions

08/20/2018 The banking industry has been raising alarms about the growth of a few credit unions, but the critiques ignore the vast size differences between the two sectors and the tremendous growth banks have seen since the crisis. [more]
Tags: Bankruptcy Blogs, BankThink, Credit unions, Financial regulations, Lobbying