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March 30, 2017 - 0 new headlines

Prinses fall from shopping sprees at Saks to bankruptcy - San Antonio Express-News (subscription)

03/29/2017 San Antonio Express-News (subscription)Prinses fall from shopping sprees at Saks to bankruptcySan Antonio Express-News (subscription)A Houston bankruptcy judge on Monday imposed $800,000 in sanctions against now-suspended San Antonio lawyer Todd Prins, seen here in this December photo. He's [more]
Tags: 363 Sales, News

Westinghouse Files For Chapter 11, Says Employees Will Be Okay - CBS Pittsburgh / KDKA

03/29/2017 CBS Pittsburgh / KDKAWestinghouse Files For Chapter 11, Says Employees Will Be OkayCBS Pittsburgh / KDKAPittsburgh-based Westinghouse Electric, owned by the Japanese company Toshiba, wants the protection of Chapter 11 as it seeks to restructure its company and shed billions of dollars of debt caused [more]
Tags: News, Reorganizations

Owner of $40M Irving Place Office Building Files for Chapter 11 - Commercial Observer

03/29/2017 Owner of $40M Irving Place Office Building Files for Chapter 11Commercial ObserverThe owner of a Gramercy Park-area office building at 67 Irving Place has filed for Chapter 11 bankruptcy protection, at the same time an affiliated company filed for Chapter 11 on a Washington, D.C. site, bankruptcy [more]
Tags: News, Reorganizations

What Westinghouse's bankruptcy filing means for Charlotte and SC reactors - Charlotte Observer

03/29/2017 Charlotte ObserverWhat Westinghouse's bankruptcy filing means for Charlotte and SC reactorsCharlotte ObserverA sign marks the entrance to Westinghouse's global sites and world headquarters, Wednesday, March 29, 2017, in Cranberry, Pa. Japan's embattled Toshiba Corp. says its U.S. nuclear [more]
Tags: Filings, News

ResCap Liquidating Trust Appoints David Pauker to the ResCap Liquidating Trust Board of Directors - Yahoo Finance

03/29/2017 ResCap Liquidating Trust Appoints David Pauker to the ResCap Liquidating Trust Board of DirectorsYahoo FinanceBoard Chairman Mitchell Sonkin commented: "David's experience and strong track record in bankruptcies and restructuring in the financial services industry will significantly benefit [more]
Tags: Lawsuits, News

Prins couple falls from shopping sprees at Saks to bankruptcy - mySanAntonio.com

03/29/2017 mySanAntonio.comPrins couple falls from shopping sprees at Saks to bankruptcymySanAntonio.comThe details of Paula Prins' lavish lifestyle, outlined in a lawsuit filed last week by the U.S. trustee overseeing the couple's bankruptcy case, contradicts what they disclosed to the U.S. bankruptcy [more]
Tags: Cases of Interest, News

Ezra Chapter 11: Who was watching the watchmen? - Splash 247

03/29/2017 Splash 247Ezra Chapter 11: Who was watching the watchmen?Splash 247Julie O'Connor has long campaigned for greater transparency among Singapore-listed entities. With Ezra Holdings filing for Chapter 11, she looks at what needs to be done to make investors feel more secure in the Lion Republic. I [more]
Tags: News, Reorganizations

Hearing scheduled Thursday, March 30, on Crossings Mall bankruptcy case - WVAH

03/29/2017 Hearing scheduled Thursday, March 30, on Crossings Mall bankruptcy caseWVAHTara Retail filed for bankruptcy on the shopping complex property that has been closed since a June 23 flood washed away the bridge. The motion filed by the commission said more than 500 people were left without a job since [more]
Tags: Cases of Interest, News

UPDATE 7-Huge nuclear cost overruns push Toshiba's Westinghouse into bankruptcy - Reuters

03/29/2017 WZVN-TVUPDATE 7-Huge nuclear cost overruns push Toshiba's Westinghouse into bankruptcyReutersTOKYO, March 29 Westinghouse Electric Co, a unit of Japanese conglomerate Toshiba Corp , filed for bankruptcy on Wednesday, hit by billions of dollars of cost overruns at four nuclear reactors under [more]
Tags: Liquidation, News

Chances of scoring a deal on shoes at Gordmans fire sale may be slim: DSW wants its merchandise back - Kearney Hub

03/29/2017 Kearney HubChances of scoring a deal on shoes at Gordmans fire sale may be slim: DSW wants its merchandise backKearney Hub“Quite simply, the DSW merchandise and fixtures are not property of the bankruptcy estate,” the company wrote in court documents filed with U.S. Bankruptcy Court in Omaha late [more]
Tags: 363 Sales, News

Blogs

Investors Bancorp agrees to give board seat to big shareholder

03/29/2017 The New Jersey company added a representative of Blue Harbour Group in Connecticut to its board. [more]
Tags: BankThink, blog, Corporate governance, Growth strategies, new jersey, Private Equity

Citizens falls on report workers faked bank appointment data

03/29/2017 Citizens Financial dropped the most in the 24-company KBW Bank Index after some branch workers told a newspaper they faked information about customers attending its "Citizens Checkup" program. [more]
Tags: BankThink, blog, Citizens Financial, Consumer banking

CRA downgrade is least of Wells Fargo's problems

03/29/2017 Low scores make it harder for banks to get regulatory OKs to expand, but Wells is in retrenchment mode anyway. [more]
Tags: BankThink, blog, CRA, Crime and misconduct, Law and regulation, M&A, OCC, Wells Fargo

First Bank to buy Bucks County Bank in Pennsylvania

03/29/2017 First Bank, based in New Jersey, will pay about $27 million for Bucks County Bank in a deal that is expected to close in the third quarter. [more]
Tags: BankThink, blog, Capital, Growth strategies, M&A, pennsylvania

Are human traffickers hiding in your bank's data?

03/29/2017 Data and analytics tools can help banks detect financial patterns that may indicate that human trafficking is occurring. [more]
Tags: AML, Analytics, Bank technology, BankThink, blog, customer data

Santander Consumer agrees to $26M settlement with state AGs

03/29/2017 The subprime auto lender funded loans through a group of car dealers that it knew had track records of high default rates and fraud, authorities in Massachusetts and Delaware said. [more]
Tags: Auto lending, BankThink, blog, Compliance, Consumer lending, Delaware, Massachusetts, Subprime lending

Crypto exchange ShapeShift raises $10.4M for growth

03/29/2017 The exchange, founded by a bitcoin pioneer in 2014, is facilitating more than $50 million worth of transactions each month, as the "gold rush" in blockchain-based assets takes hold. [more]
Tags: BankThink, bitcoin, Blockchain, blog, Cryptocurrencies

Ukraine's Defenses to Russian Bond Claims Rejected

03/29/2017 The judge hearing Russia's lawsuit to enforce its $3 billion loan to Ukraine issued an opinion today, rejecting Ukraine's defenses to the lawsuit. Bloomberg and the Financial Times both have coverage of the decision. We've discussed the loan quite a bit here on Credit Slips, and also Ukraine's [more]
Tags: blog, CreditSlips

The Structure of Dismissals – Supreme Court’s Jevic Decision Lays Out Ground Rules for Parties Seeking to Resolve Bankruptcies Through the Increasingly Popular Method of Structured Dismissals

03/29/2017 On March 22, 2017, the Supreme Court in Czyzewski v. Jevic Holding Corp., 580 U.S. __ (2017) held that a bankruptcy court does not have the power to approve a structured dismissal of a bankruptcy case that violates the Bankruptcy Code’s priority scheme unless the affected parties consent. The [more]
Tags: BankruptcyandRestructuringBlog, blog, Nationally Significant Cases, structured dismissal

N.Y.‘s bank cop to federal regulators: Follow our lead

03/29/2017 New York State Department of Financial Services Superintendent Maria T. Vullo speaks out on cybersecurity regulation, cracking down on bad actors in the industry and the OCC's fintech charter. [more]
Tags: BankThink, blog, Cybersecurity, Fintech regulations, Maria Vullo