News

Today's News

December 12, 2018 - 152 new headlines

For NCLT, it is a race against time for resolution of NPAs - Economic Times

12/12/2018 For NCLT, it is a race against time for resolution of NPAs  Economic TimesMUMBAI: Justice delayed is justice denied, they say. And time value seems even bigger where big money — an estimated Rs 3.5 lakh crore —is involved. [more]
Tags: Lawsuits, News

Sears Defends $25M Exec Bonuses From Trustee In Ch. 11 - Law360

12/12/2018 Sears Defends $25M Exec Bonuses From Trustee In Ch. 11  Law360Sears Holding Corp. on Wednesday asked a New York bankruptcy court to reject a U.S. Trustee's Office challenge to its proposal to pay $25 million in bonuses [more]
Tags: Cases of Interest, News

Bankruptcy: How does it work, and should you do it? - Stuff.co.nz

12/12/2018 Bankruptcy: How does it work, and should you do it?  Stuff.co.nzFashion designer Andrea Moore made news this week when it was revealed she had declared bankruptcy. Her company was put into liquidation at the start of [more]
Tags: Liquidation, News

Tim Eyman explains bankruptcy, divorce email - MyNorthwest.com

12/12/2018 Tim Eyman explains bankruptcy, divorce email  MyNorthwest.comTim Eyman explains why he sent out an email to the media describing his bankruptcy and divorce, and alerts voters that he has nearly attained the required [more]
Tags: Cases of Interest, News

Ch. 11 Doesn’t Cancel TM Contract, Clothier Tells High Court - Law360

12/12/2018 Ch. 11 Doesn’t Cancel TM Contract, Clothier Tells High Court  Law360Apparel retailer Mission Product Holdings has urged the U.S. Supreme Court to overturn a First Circuit decision in its breach of contract suit against Tempnology [more]
Tags: Cases of Interest, News

IMMC Trustee Wants 3rd Circ. Redo In Ch. 11 Transfer Fight - Law360

12/12/2018 IMMC Trustee Wants 3rd Circ. Redo In Ch. 11 Transfer Fight  Law360A liquidating trustee of bankrupt mining company IMMC Corp. asked the full Third Circuit Wednesday to revisit its precedential November decision that a [more]
Tags: Cases of Interest, News

Can’t settle Ericsson dues of Rs 550 cr by given deadline: RCom tells SC - Economic Times

12/12/2018 Can’t settle Ericsson dues of Rs 550 cr by given deadline: RCom tells SC  Economic TimesBlames government for its inability as DoT has not yet cleared its spectrum sale to Jio. [more]
Tags: 363 Sales, News

Toy retailers try to fill void that Toys ‘R’ Us left behind - The Boston Globe

12/12/2018 Toy retailers try to fill void that Toys ‘R’ Us left behind  The Boston GlobeOwners of corner store toy shops are devising clever ways to compete with Amazon and big box retailers, which are bulking up on Shopkins and Hatchimals. [more]
Tags: 363 Sales, News

Mike Isabella Will Close All His Restaurants Following Chapter 7 Bankruptcy Filing - Eater

12/12/2018 Mike Isabella Will Close All His Restaurants Following Chapter 7 Bankruptcy Filing  EaterThe D.C. chef filed for bankruptcy today, ending a year of headlines following #MeToo allegations. [more]
Tags: Liquidation, News

Mike Isabella's Restaurant Group Is Going Out of Business - Washingtonian

12/12/2018 Mike Isabella's Restaurant Group Is Going Out of Business  WashingtonianLess than a year after a sexual harassment lawsuit rocked Mike Isabella's restaurant empire, the once $40 million company will go out of business by Dec. 27. [more]
Tags: Filings, News

Blogs

Synovus invests broad authority in new COO

12/12/2018 Synovus has given CFO Kevin Blair the additional title of COO. He will oversee three business lines, plus tech, operations and product and treasury management. [more]
Tags: , Bankruptcy Blogs, BankThink, Career moves, M&A, Regional banks, Synovus Financial

City National builds out defense business with two new hires

12/12/2018 The U.S. subsidiary of the Royal Bank of Canada has added bankers from MUFG Union Bank and Bank of America to its Orange County, Calif., team that serves the aerospace and defense industry. [more]
Tags: , aerospace, Bankruptcy Blogs, BankThink, Commercial banking, Commercial lending, Defense industry, RBC, Recruiting

Temenos buys front office tech provider for $245M

12/12/2018 The banking software company has acquired Avoka, a software-as-a-service company that helps banks with digital customer acquisition and onboarding and will add to Temenos’ digital front office product. [more]
Tags: , Bankruptcy Blogs, BankThink, Core systems, Digital banking, Temenos

Manafort, Cohen cases highlight banks' vulnerability to fraud

12/12/2018 Time and again, two former associates of President Trump deceived banks in connection with loan applications. Their wealth, proximity to power and willingness to tell big lies all appear to have helped them get away with brazen schemes. [more]
Tags: , Bankruptcy Blogs, BankThink, Citizens Bank, Crime and misconduct, doj, First Republic, Fraud detection, Fraud prevention, HELOCs, Mortgage fraud, mortgages

Regions separates chairman and CEO roles

12/12/2018 The Alabama bank has named former power company executive Charles McCrary chairman instead of giving the job to new CEO John Turner. [more]
Tags: , Alabama, Bankruptcy Blogs, BankThink, Career moves, Corporate governance, Grayson Hall, Regions Bank, Succession planning

Piling on: Democratic lawmakers join chorus of CECL critics

12/12/2018 Brad Sherman of California and Gregory Meeks of New York are worried the proposed accounting standard for recording loan losses will reduce access to credit for small businesses and low- and moderate-income communities. [more]
Tags: , Bankruptcy Blogs, BankThink, CECL, Community banking, FASB, Small business lending

‘This is not a big boys club’: FINOS seeks to open up open source

12/12/2018 A new unit of the nonprofit tech-development foundation is getting banks of all sizes to work together on cutting-edge software projects that could benefit the entire industry. [more]
Tags: , Bankruptcy Blogs, BankThink, Blockchain, Collaboration tools, Distributed ledger technology, JPMorgan Chase, Open source

Financing challenges of the smallest of small businesses

12/12/2018 Owners of firms that employ only themselves would prefer to use loans or lines of credit, but more often than not they resort to credit cards, according to a new Fed report. Is this a missed opportunity for banks? [more]
Tags: , Bankruptcy Blogs, BankThink, Digital banking, Federal Reserve, Gig economy, Peer-to-peer lending, Small business lending

Group applies with FDIC to open bank in New Hampshire

12/12/2018 Millyard Bank aims to become the state's second post-crisis de novo. Primary Bank opened in 2015. [more]
Tags: Bankruptcy Blogs, BankThink, Capital, Community banking, De novo institutions, New Hampshire

U.S. says Puerto Rican gangsters killed Doral banker in 2011

12/12/2018 U.S. prosecutors have accused four alleged Puerto Rican drug traffickers with the murder of banker Maurice Spagnoletti, seven years after he was gunned down on a San Juan highway as he drove home from work. [more]
Tags: Bankruptcy Blogs, BankThink, Crime and misconduct