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Today's News

February 24, 2017 - 4 new headlines

Stone Energy (SGY) Reports Emergence from Chapter 11 Reorganization; New Shares to Trade Under Same Ticker - StreetInsider.com

02/24/2017 Stone Energy (SGY) Reports Emergence from Chapter 11 Reorganization; New Shares to Trade Under Same TickerStreetInsider.com [more]
Tags: News, Reorganizations

How Nasty Gal Went From an $85 Million Company to Bankruptcy - Wall Street Journal (subscription)

02/24/2017 Los Angeles TimesHow Nasty Gal Went From an $85 Million Company to BankruptcyWall Street Journal (subscription)The rapid rise and fall of Nasty Gal Inc., an online retailer once popular with millennial shoppers and venture capitalists, is culminating in a bankruptcy sale to a rival. In less than a [more]
Tags: 363 Sales, News

Westinghouse considering Chapter 11 filing? - Seeking Alpha

02/24/2017 Westinghouse considering Chapter 11 filing?Seeking AlphaFollowing a report by the Nikkei business daily, a spokesman for Toshiba (OTCPK:TOSYY) said he was "not aware" that U.S. nuclear unit Westinghouse was considering a potential Chapter 11 filing. Analysts say the option could put the [more]
Tags: News, Reorganizations

Investors challenging $37 million in Life Partners bankruptcy fees - Waco Tribune-Herald

02/23/2017 Waco Tribune-HeraldInvestors challenging $37 million in Life Partners bankruptcy feesWaco Tribune-HeraldDavid Alford, a Waco attorney who specializes in bankruptcy issues but is not involved in the Life Partners case, said it is not unusual for a federal trustee to “weigh in” on the validity of [more]
Tags: Cases of Interest, News

Toshiba says not aware Westinghouse unit considering Chapter 11 filing - Business Insider

02/23/2017 Toshiba says not aware Westinghouse unit considering Chapter 11 filingBusiness InsiderTOKYO, Feb 24 (Reuters) - Toshiba Corp said on Friday it was not aware that its U.S. nuclear unit Westinghouse was considering filing for Chapter 11 bankruptcy protection. The Nikkei business daily reported earlier [more]
Tags: News, Reorganizations

Toshiba says not aware Westinghouse unit considering Chapter 11 filing - Reuters

02/23/2017 ReutersToshiba says not aware Westinghouse unit considering Chapter 11 filingReutersT) said on Friday it was not aware that its U.S. nuclear unit Westinghouse was considering filing for Chapter 11 bankruptcy protection. The Nikkei business daily reported earlier that a Chapter 11 filing was one of [more]
Tags: News, Reorganizations

Attorneys file notice to appeal San Bernardino bankruptcy confirmation - San Bernardino County Sun

02/23/2017 San Bernardino County SunAttorneys file notice to appeal San Bernardino bankruptcy confirmationSan Bernardino County SunSAN BERNARDINO >> Three alleged victims of police beatings whose judgments would be reduced by 99 percent under the terms of the bankruptcy plan approved by U.S. Bankruptcy [more]
Tags: Lawsuits, News

Maple Leaf files for bankruptcy after closing treatment sites - vtdigger.org

02/23/2017 Maple Leaf files for bankruptcy after closing treatment sitesvtdigger.orgMaple Leaf hired Bethel attorney Raymond Obuchowski to handle the bankruptcy filing. In a Chapter 7 bankruptcy, a trustee is appointed to liquidate assets and repay creditors. Douglas Wolinsky, an attorney with the firm Primmer [more]
Tags: Liquidation, News

Family facing bankruptcy after positive meth test scuppers sale of Blenheim house - Waikato Times

02/23/2017 Waikato TimesFamily facing bankruptcy after positive meth test scuppers sale of Blenheim houseWaikato TimesThe sale of a young family's home has been scuppered after testing showed high levels of methamphetamine contamination. A young family who moved to Canterbury for a better life is staring [more]
Tags: 363 Sales, News

MC Sports liquidation sale now underway at Holland location - HollandSentinel.com

02/23/2017 HollandSentinel.comMC Sports liquidation sale now underway at Holland locationHollandSentinel.comThe company said it "ran into hard times in recent years because of increased competition, increasing direct-to-consumer sales by key vendors, the blurring of distribution channels by bigger [more]
Tags: 363 Sales, News

Blogs

N.D. Ga. – Judge Sacca Holds Interest Rate Paid Pursuant To 11 U.S.C. §726(a)(5) Is Federal Judgment Rate.

02/24/2017 It is the rare Chapter 7 case that ends up with sufficient estate assets to pay all claims in full, plus interest as required by 11 U.S.C. §726(a)(5).  The question addressed by Judge Sacca in In re Robinson, Ch. 7 Case No. 15-51556, 2017 WL 713571 (Bankr. N.D. Ga. February 22, 2017) (click here for [more]
Tags: blog, chapter 7, GeorgiaBankruptcyBlog, Interest Rate, Northern District Cases

Investors line up to refill fintech coffers

02/23/2017 A core processing startup gets $16 million and a U.K. challenger bank raises $27.6 million. [more]
Tags: Bank technology, BankThink, blog, Core systems, Digital banking, Fintech, Venture capital

How one big bank aims to bridge the gap between digital, branch banking

02/23/2017 MUFG Union Bank is launching PurePoint Financial, a largely online savings bank that will still offer opportunities for face-to-face interaction. [more]
Tags: BankThink, blog, Branch banking, Consumer banking, Digital banking, Online banking

Santander Consumer, hurt by deep subprime, inches up the credit band

02/23/2017 The Dallas-based lender is planning to boost originations to borrowers with solid credit scores amid fears that the subprime auto market is overheating. [more]
Tags: Auto lending, BankThink, blog, Subprime lending

Trump said to weigh U.S. Bancorp CEO Davis for Fed board seat

02/23/2017 Donald Trump is considering nominating U.S. Bancorp Chief Executive Officer Richard Davis for the Federal Reserve Board, said people familiar with the matter, as the president prepares to start reshaping the central bank’s approach to monetary policy and Wall Street oversight. [more]
Tags: banking, BankThink, blog, Donald Trump, Federal Reserve, Policymaking, Richard Davis

Why a clear answer to the data-sharing debate remains elusive

02/23/2017 Screen scraping has plenty of critics, but the alternatives, OAuth and APIs, have their share of detractors, too. [more]
Tags: APIs, Bank technology, BankThink, Biometrics, blog, customer data, Data and information management, Identity verification, Personally identifiable information

RIP, Melanie Dressel

02/23/2017 Banking loses a pioneering female CEO in Melanie Dressel; B of A’s Michelle Moore says mobile is used by most of its customers; Uber is the Tailhook of the new era, and more. [more]
Tags: BankThink, blog, Career moves, Diversity and equality, Gender discrimination, WIB scan

The ABA wants to groom bankers to run for office

02/23/2017 The trade group's "candidate school" will teach members about campaign fundraising and other political basics, in an effort to boost the number of elected officials who understand banking. [more]
Tags: BankThink, blog, D.C., Dodd-Frank, finance, Finance, investment and tax-related legislation, investment and tax-related legislation, Law and regulation, washington, Washington, D.C.

CFPB faces Catch-22 on pending arbitration rule

02/23/2017 The Consumer Financial Protection Bureau's arbitration rule will likely be overturned by Congress if the agency moves ahead with finalizing it. [more]
Tags: Arbitration, BankThink, blog, CFPB, Policymaking, Prepaid cards

Hensarling’s leverage ratio plan won’t work without stress tests

02/23/2017 The House proposal establishes a 10% leverage ratio as the standard for bank strength, but it says nothing about the riskiness of the bank’s business or the size of its exposure to economic downturns. [more]
Tags: BankThink, blog, Jeb Hensarling, Minimum capital requirements, stress tests