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Today's News

July 21, 2017 - 2 new headlines

Bankrupt financial advisor hit with criminal charges in Richmond - RichmondBizSense

07/21/2017 Bankrupt financial advisor hit with criminal charges in RichmondRichmondBizSenseAfter Kinder filed the civil suit seeking $6 million in damages, Dandridge filed for Chapter 7 bankruptcy on March 24 in federal court in Lynchburg and also put one of his businesses – Charlottesville-based Timberlake [more]
Tags: Liquidation, News

Breitburn Energy: The Endless Bankruptcy - Seeking Alpha

07/21/2017 Seeking AlphaBreitburn Energy: The Endless BankruptcySeeking AlphaThe bankruptcy case for Breitburn Energy Partners LP (OTCPK:BBEPQ) seems like it will never end. The exclusive period to file a plan was extended again (docket 1453) to September 12 during a hearing held on July 19. This contrasts [more]
Tags: Cases of Interest, News

Sale of WBRU broadcast signal expected soon - Turn to 10

07/20/2017 Turn to 10Sale of WBRU broadcast signal expected soonTurn to 10And now, the sale is imminent, according to Art Norwalk, a WBRU spokesman. "It's certainly a concern. We hope it doesn't break the chain. We hope it adjusts the chain," said Norwalk, who worked at the station in the [more]
Tags: 363 Sales, News

Paragon Offshore Limited Comments on Chapter 11 Filings Related to Prospector Offshore - Nasdaq

07/20/2017 Motley FoolParagon Offshore Limited Comments on Chapter 11 Filings Related to Prospector OffshoreNasdaqHOUSTON, July 20, 2017 (GLOBE NEWSWIRE) -- Paragon Offshore Limited ("New Paragon" or the "company") commented today on new voluntary proceedings commenced by Paragon Offshore [more]
Tags: News, Reorganizations

Paragon Offshore Limited Comments on Chapter 11 Filings Related to Prospector Offshore - GlobeNewswire (press release)

07/20/2017 Motley FoolParagon Offshore Limited Comments on Chapter 11 Filings Related to Prospector OffshoreGlobeNewswire (press release)HOUSTON, July 20, 2017 (GLOBE NEWSWIRE) -- Paragon Offshore Limited (“New Paragon” or the “company”) commented today on new voluntary proceedings commenced by Paragon [more]
Tags: News, Reorganizations

Banned Trainer Rick Dutrow's Debts Discharged - Thoroughbred Daily News

07/20/2017 Thoroughbred Daily NewsBanned Trainer Rick Dutrow's Debts DischargedThoroughbred Daily NewsHowever, a creditor may have the right to enforce a valid lien, such as a mortgage or security interest, against the debtor's property after the bankruptcy, if that lien was not avoided or eliminated [more]
Tags: Cases of Interest, News

Bankruptcy Not a Shield Against Medicare or Medicaid Termination - Bloomberg BNA

07/20/2017 Bankruptcy Not a Shield Against Medicare or Medicaid TerminationBloomberg BNAA case now in federal court in Maine may test that decision. In Maine Dep't of Health & Human Servs. v. Getchell, No. 1:17-cv-252, the Maine Department of Health and Human Services has argued the bankruptcy court [more]
Tags: Cases of Interest, News

NJOY Bankruptcy Converted To Ch. 7 - Law360 (subscription)

07/20/2017 NJOY Bankruptcy Converted To Ch. 7Law360 (subscription)Law360, New York (July 20, 2017, 4:45 PM EDT) -- A Delaware bankruptcy judge agreed Wednesday to convert the Chapter 11 bankruptcy of e-cigarette maker NJOY Inc. to a Chapter 7, following a $30 million asset sale and the departure of its last [more]
Tags: Liquidation, News

Law Firms, Owed by Bankrupt Clients, Look to Represent Them in Court - The American Lawyer

07/20/2017 The American LawyerLaw Firms, Owed by Bankrupt Clients, Look to Represent Them in CourtThe American LawyerWhen Hawaiian real estate developer Aina Lea Inc. filed for bankruptcy late last month, it owed Greenberg Traurig, Nixon Peabody and several other law firms nearly $900,000. And Aina Lea, the [more]
Tags: Filings, News

Could Supreme Court Case on Debt Recharacterization Provide a Pathway Out of the Stern v. Marshall Maze? - JD Supra (press release)

07/20/2017 Could Supreme Court Case on Debt Recharacterization Provide a Pathway Out of the Stern v. Marshall Maze?JD Supra (press release)Levin, in which it will decide whether federal or a state law should apply when a debt claim held by a debtor's insider is sought to be recharacterized in bankruptcy as [more]
Tags: Cases of Interest, News

Blogs

Merger expenses cut into profits at People’s United

07/20/2017 But the Connecticut company says the efficiencies of its recent acquisition of Suffolk Bancorp will begin to be realized soon. [more]
Tags: Bankruptcy Blogs, BankThink, Commercial lending, Connecticut, Earnings, M&A, Regional banks

East West reports broad loan growth, cautions U.S. on trade policy

07/20/2017 The California lender, which specializes in trade finance, reported strong growth in commercial and other lending categories last quarter, and it urged the Trump administration to seek fair trade deals with China. [more]
Tags: Bankruptcy Blogs, BankThink, Commercial lending, Earnings, Multifamily, Trade agreements

Small lenders fear GSE reform would resurrect bulk discounts for big banks

07/20/2017 The discounts that Fannie Mae and Freddie Mac used to offer large originators for selling them bulk bundles of mortgages continue to haunt small lenders, who worry a new housing finance system could revive the practice. [more]
Tags: Bankruptcy Blogs, BankThink, Fannie Mae, Freddie Mac, GSE reform, Housing finance reform, Sailthru NMN origination no display, Senate Banking Committee

Capital One’s profits climb on across-the-board revenue growth

07/20/2017 The McLean, Va., lender, which has substantial exposure to subprime consumer loans, also added to its provision for credit losses. [more]
Tags: Auto lending, Bankruptcy Blogs, BankThink, Capital One, credit cards, Earnings, National banks, Subprime lending

Associated to buy Bank Mutual in merger of large Wisconsin banks

07/20/2017 The $482 million deal would be Associated's first bank acquisition since June 2007. [more]
Tags: Bankruptcy Blogs, BankThink, Capital, Community banking, Earnings, M&A, Regional banks, Wisconsin

Vendor of loan technology plots expansion after $13M raise

07/20/2017 LendKey, whose software helps financial institutions make student, auto and home improvement loans, closed a Series C round led by a fund whose investors include more than a dozen banks. [more]
Tags: Auto lending, Bank technology, Bankruptcy Blogs, BankThink, Student lending

F.N.B. set to play offense in North Carolina

07/20/2017 The Pittsburgh company, pleased with employee and client retention from its March purchase of Yadkin Financial, is looking to hire lenders from other institutions. [more]
Tags: Bankruptcy Blogs, BankThink, Community banking, Earnings, M&A, north carolina, pennsylvania, Regional banks, Sailthru NMN origination no display

Derivative Complaints by Creditors Against Chapter 7 Trustees – They Don’t Tend to Go Very Far

07/20/2017 In a decision signed July 17, 2017 in the Our Alchemy, LLC bankruptcy (case 16-11596), Judge Gross of the Delaware Bankruptcy Court granted a trustee’s partial motion to dismiss a complaint, holding that a creditor cannot assert general claims against a Chapter 7 Trustee in his official [more]
Tags: Bankruptcy Blogs, Chapter 7 Trustee, DelawareBankruptcyLitigation, Derivative Complaint, fiduciary duty, George L. Miller, Opinions, The Honorable Kevin Gross

Take that, doubters: KeyCorp accelerates earn-back period for First Niagara

07/20/2017 The Cleveland company, once criticized for an initial six-year forecast, now believes it will only take four years to rebuild its tangible book value. [more]
Tags: Bankruptcy Blogs, BankThink, Earnings, Expense management, M&A, new york, Ohio, Regional banks, Revenue and expenses

Fed panel puts faster payments on three-year track

07/20/2017 An influential task force established by the central bank envisions a future in which the U.S. has multiple real-time payment systems, and in a new report it lays out a series of actions that will be necessary to stitch them together. [more]
Tags: ACH, Bankruptcy Blogs, BankThink, Faster payments, Federal Reserve, Real-time payments