Today's News

November 19, 2017 - 5 new headlines

Shiekh Shoes owner says retailer seeks financing to avoid bankruptcy - Business Insider

11/19/2017 Shiekh Shoes owner says retailer seeks financing to avoid bankruptcyBusiness InsiderThe company has retained legal counsel to help work on a bankruptcy filing in case efforts to avoid it do not pan out. Shiekh said the outcome of his attempts will be apparent later this month. Shiekh Shoes acquired [more]
Tags: Cases of Interest, News

Lancaster County bankruptcies: Nov. 19, 2017 - LancasterOnline

11/19/2017 LancasterOnlineLancaster County bankruptcies: Nov. 19, 2017LancasterOnlineHere is a list of Lancaster County bankruptcies recorded in U.S. Bankruptcy Court, Eastern District of Pennsylvania, Reading, Nov. 7-13. Jennifer C. Slaymaker, 700 block of Pequea Avenue, Gap. Chapter 13. Michele M. Souders, [more]
Tags: Liquidation, News

Destination spot for bankruptcy filings: Virginia - Northwest Arkansas Democrat-Gazette

11/19/2017 Destination spot for bankruptcy filings: VirginiaNorthwest Arkansas Democrat-GazetteFirst, Richmond's Bankruptcy Court offers a so-called rocket docket that moves cases along swiftly. Chapter 11 bankruptcy filings can be laborious proceedings that drag on for years. Gymboree's bankruptcy was [more]
Tags: Filings, News

BANKRUPTCY WATCH - Arkansas Online

11/19/2017 BANKRUPTCY WATCHArkansas Online13, 2017, Chapter 7. BRADFORD Adrian G. and Rebecca A. Addington (aka Becky A. Addington), 515 Jackson Road 8, Nov. 10, 2017, Chapter 13. BRYANT Jeremy D. West, 5335 Buckingham Place, Nov. 15, 2017, Chapter 7. Martin D. Fitzpatrick, 2215  [more]
Tags: Liquidation, News

Asbestos attorneys drive another company into bankruptcy - Madison County Record

11/18/2017 Asbestos attorneys drive another company into bankruptcyMadison County RecordCasada cited a 2005 Madison County case that Georgia Pacific settled with a plaintiff who subsequently submitted 21 trust claims and ballots in nine bankruptcy cases based on exposures and products not disclosed during [more]
Tags: Lawsuits, News

Diva Disposal files for bankruptcy - Huron Daily Tribune

11/18/2017 Diva Disposal files for bankruptcyHuron Daily TribuneOne resident who experienced this was Rich Swartzendruber of Colfax Township. He received notice in the mail recently that Diva Disposal, LLC, has filed for Chapter 7 Bankruptcy in United States Bankruptcy Court, Eastern District of Michigan on [more]
Tags: Liquidation, News


Cleveland Fed withdraws online lending study after doubts arise

11/19/2017 Fed researchers purported to show that consumers who use peer-to-peer loans have bad financial outcomes, but questions quickly emerged about the data they used. [more]
Tags: , Bankruptcy Blogs, BankThink, Consumer lending, Federal Reserve Bank of Cleveland, Fintech, Marketplace lending, Transunion

No 2004 Discovery Allowed When There is a Pending Proceeding

11/18/2017 In a short opinion entered November 14, 2017 Judge Gross of the Delaware Bankruptcy Court denied a motion of an interested party to “Attend and Participate in the Rule 2004 Examinations to be Conducted by the Trustee”. Judge Gross’s opinion is available here (the “Opinion”). This is a [more]
Tags: 2004 Discovery, Bankruptcy Blogs, DelawareBankruptcyLitigation, International Fidelity Insurance, Opinions, pending proceeding rule, Restaurants Acquisition, The Honorable Kevin Gross

Why Didn't Puerto Rico Use its "Local Law" Advantage to Reduce its Debt?

11/18/2017 Good academic workshops are hard to run. I know, because this is a task that I have failed at, and continue to fail at, repeatedly. For that reason though, it is a treat to see someone else run their workshop successfully. I was at one recently that was spectacularly run: Jill Hasday's Public Law [more]
Tags: Bankruptcy Blogs, CreditSlips, puerto rico, Sovereign Debt

Venezuela's Debt: Is the Game Afoot?

11/17/2017 Mitu Gulati & Mark Weidemaier The confusion over the status of Venezuelan debt over the past week has been remarkable. The government and its oil company, PDVSA, have, variously, defaulted, promised to pay, paid, claimed the money got stuck in bank purgatory, gotten a Russian bailout, triggered [more]
Tags: Bankruptcy Blogs, CreditSlips, Sovereign Debt

Ex-Santander Consumer CEO nets $700M after ouster

11/17/2017 The subprime auto lender late Friday provided the final details of its separation agreement with Thomas Dundon, who stepped down two years ago in a leadership shake-up. [more]
Tags: , Auto lending, Bankruptcy Blogs, BankThink, Consumer lending, Santander Consumer USA, Subprime lending

Coinbase positions itself as a digital currency custodian

11/17/2017 The startup is betting that a venture offering safe storage of digital assets will entice billions from banks and other institutional investors. [more]
Tags: , Bankruptcy Blogs, BankThink, bitcoin, Blockchain, Clearinghouses/custodians, Coinbase, Cryptocurrencies, Disruptors, Distributed ledger technology, Fintech

Housing finance reform next on to-do list for Trump and Congress

11/17/2017 The White House and congressional GOP leaders are eyeing a tight window between tax reform passage and the 2018 midterms to pass housing finance reform. And with key policymakers readying their exit, the effort could be the most concerted push yet. [more]
Tags: , Bankruptcy Blogs, BankThink, Fannie Mae, Freddie Mac, GSE reform, GSEs, Housing finance reform, Jeb Hensarling, Mike Crapo

Regulatory relief is on its way for banks: OCC official

11/17/2017 An OCC official said Friday that a change in tone in Washington means banks can expect a softening of regulations soon. [more]
Tags: , Bankruptcy Blogs, BankThink, Financial regulations, OCC, Regulatory reform, Regulatory relief

Credit union's capital raise should make bankers nervous

11/17/2017 Jefferson Financial in Louisiana struck a deal to bring in $12 million in secondary capital, which is believed to be the biggest haul to date for a credit union. It could also embolden other credit unions to pursue similar fundraising efforts. [more]
Tags: , Bankruptcy Blogs, BankThink, Capital, Commercial lending, Community banking, Credit unions, Louisiana, NCUA

Why Cleveland Fed should retract its online lending study

11/17/2017 The report’s authors presented findings that seemed to reflect issues with the peer-to-peer lending industry, but they actually relied on data from a much broader category of loans. [more]
Tags: , Bankruptcy Blogs, BankThink, Consumer lending, Federal Reserve Bank of Cleveland, Marketplace lending, Policymaking, Transunion