News

Today's News

September 19, 2017 - 7 new headlines

Toys R Us Files for Chapter 11 Reorganization - U.S. News & World Report

09/19/2017 U.S. News & World ReportToys R Us Files for Chapter 11 ReorganizationU.S. News & World Report(AP) — Toys R Us, the pioneering big box toy retailer, has announced it has filed for Chapter 11 bankruptcy protection while continuing with normal business operations. A statement by the Wayne, New [more]
Tags: News, Reorganizations

Toys R Us files for bankruptcy protection - WVTM13

09/19/2017 WVTM13Toys R Us files for bankruptcy protectionWVTM13The company says separate operations outside the U.S. and Canada, including more than 250 licensed stores and a joint venture partnership in Asia, are not part of the filings. While The Wall Street Journal reported the toy giant plans to close [more]
Tags: Filings, News

Toys R Us files for voluntary Chapter 11 bankruptcy protection, to continue normal business operations - seattlepi.com

09/19/2017 Toys R Us files for voluntary Chapter 11 bankruptcy protection, to continue normal business operationsseattlepi.comToys R Us files for voluntary Chapter 11 bankruptcy protection, to continue normal business operations. Updated 11:46 pm, Monday, September 18, 2017. RICHMOND, Va. (AP) — Toys R Us [more]
Tags: News, Reorganizations

Toys R Us Files for Chapter 11 Bankruptcy - NBC 7 San Diego

09/19/2017 NBC 7 San DiegoToys R Us Files for Chapter 11 BankruptcyNBC 7 San DiegoToys R Us announced Monday that it filed for bankruptcy, CNBC reported. The chapter 11 bankruptcy will help the New Jersey-based retailer relieve itself of its $4.9 billion debt, $400 million of which has interest payments due in [more]
Tags: Liquidation, News

Toys "R" Us files for bankruptcy as holiday season approaches - CBS News

09/19/2017 CBS NewsToys "R" Us files for bankruptcy as holiday season approachesCBS NewsToys "R" Us -- once a dominant player in the American toy market -- filed for bankruptcy protection Monday night with a crushing debt load that had turned the 1,600-store chain into an also-ran against [more]
Tags: Cases of Interest, News

Toys 'R' Us files for bankruptcy? 3 things to know - KIRO Seattle

09/19/2017 KIRO SeattleToys 'R' Us files for bankruptcy? 3 things to knowKIRO Seattle3. Chapter 11 could allow the company to keep stores open while restructuring debt. Unlike the recent Chapter 7 filing of bridal clothier Alfred Angelo, Chapter 11 bankruptcy allows a business to restructure debt [more]
Tags: Liquidation, News

Toys 'R' Us, as anticipated, files for Chapter 11 protection - WHIO

09/19/2017 WHIOToys 'R' Us, as anticipated, files for Chapter 11 protectionWHIOToys "R" Us, Inc. has voluntarily filed for relief under Chapter 11, company officials announced Monday. The company's Canadian subsidiary also intends to seek protection in parallel proceedings under the [more]
Tags: News, Reorganizations

Toys R Us files for Chapter 11 bankruptcy - CNBC

09/18/2017 CNBCToys R Us files for Chapter 11 bankruptcyCNBCThe bankruptcy filing helps the Wayne New Jersey-based toy retailer relieve itself of the debt left over from its $6.6 billion acquisition by Kohlberg Kravis Roberts, Bain Capital Partners and real estate investment trust Vornado Realty Trust in a [more]
Tags: News, Reorganizations

Toys 'R' Us Seeks Bankruptcy, Crushed by Online Competition - Bloomberg

09/18/2017 BloombergToys 'R' Us Seeks Bankruptcy, Crushed by Online CompetitionBloombergThe company listed debt and assets of more than $1 billion each in Chapter 11 documents Monday in U.S. Bankruptcy Court in Richmond, Virginia. Prior to filing, the chain secured more than $3 billion in financing [more]
Tags: Cases of Interest, News

ChinaCast Bankruptcy Can't Stop Insurance Payout: Creditors - Law360 (subscription)

09/18/2017 ChinaCast Bankruptcy Can't Stop Insurance Payout: CreditorsLaw360 (subscription) [more]
Tags: Lawsuits, News

Blogs

Crisis averted, Comerica now faces questions on growth, succession

09/18/2017 The Dallas company has extinguished talk of a potential sale after aggressively cutting costs over the past year. But concerns about its future — including its ability to find new sources of revenue — remain. [more]
Tags: Bankruptcy Blogs, BankThink, Comerica Bank, Commercial banking, Commercial lending, Expense management, M&A, Non-interest income, Succession planning

Are credit bureaus, housing groups in cahoots to kill FICO scores?

09/18/2017 Efforts to persuade regulators to allow Fannie Mae and Freddie Mac to use alternative credit scores would stifle competition between the credit bureaus and FICO and do little to expand access to credit, according to industry analyst Chris Whalen. [more]
Tags: Bankruptcy Blogs, BankThink, Credit quality, credit scores, Equifax, experian, FICO, GSEs, Housing finance reform, Transunion, Underwriting

Bank M&A to slacken during Irma, Harvey recoveries

09/18/2017 Florida and Texas are normally major sources of mergers, but bankers in those states likely will take a break to assess damage from the hurricanes before returning to dealmaking. [more]
Tags: Bankruptcy Blogs, BankThink, Branch network, Community banking, Crisis management, Disaster recovery, florida, Hurricane Irma, M&A, Regional banks, texas

Role reversal: U.S. leads race to bottom in global bank rules

09/18/2017 EU-based banks are citing a U.S. Treasury Department report as reason to slow-walk international regulatory standards. [more]
Tags: Bankruptcy Blogs, BankThink, Basel, Basel Committee on Banking Supervision, Capital requirements, Risk-based capital rule, Sailthru NMN origination no display, Treasury Department

CFPB orders private student loan trust and debt collector to pay $21.6M

09/18/2017 The CFPB has ordered National Collegiate Student Loan Trusts and its debt collector, Transworld Systems, to pay at least $21.6 million. [more]
Tags: Bankruptcy Blogs, BankThink, CFPB, Debt holders, Enforcement actions, Richard Cordray, Student lending, Student loan ABS, student loan debt

Bank webinars prove to be a marketing hit

09/18/2017 Wells Fargo, PNC and others are finding that the web seminar is an effective way to promote themselves through advice and useful content aimed at consumers and business clients. [more]
Tags: Bank technology, Bankruptcy Blogs, BankThink, Commercial banking, Consumer banking, Digital banking, Digital marketing, small business, Wealth management

Treasury readying capital markets fixes

09/18/2017 The Trump administration is prepping recommendations to address shortcomings in the capital markets in a report to be released next month, a top Treasury Department official said Monday. [more]
Tags: Bankruptcy Blogs, BankThink, Basel, FDIC, Federal Reserve, OCC, OLA, Regulatory relief, Steven Mnuchin, Treasury Department

Chase names former Amazon exec as head of customer experience

09/18/2017 Marbue Brown will oversee customer experience in Chase’s branch network, call centers and digital and mobile platforms. [more]
Tags: Amazon, Bankruptcy Blogs, BankThink, Consumer banking, Digital banking, JPMorgan Chase, Wealth management

Provident to take earnings hit to settle overtime-related lawsuit

09/18/2017 The California company will pay nearly $3 million to address claims it failed to pay employees for overtime. [more]
Tags: Bankruptcy Blogs, BankThink, california, Community banking, Corporate ethics, Lawsuits

Chicago deposits millions into city's last black-owned bank

09/18/2017 The third-largest U.S. metropolis is entrusting $20 million to Illinois Service Federal Savings & Loan Association, the city’s treasurer, Kurt Summers, announced Monday. [more]
Tags: Bankruptcy Blogs, BankThink, CDFIs, Community banking, Deposits