News

Today's News

April 9, 2020 - 5 new headlines

Oil Markets Are a Mess. Can World Leaders Straighten Them Out? - The New York Times

04/09/2020 Oil Markets Are a Mess. Can World Leaders Straighten Them Out?  The New York Times [more]
Tags: Liquidation, News

BRIEF-Apex Parks Says Co To Enter Into Stalking Horse Purchase Agreement, Files For Chapter 11 To Effectuate Sale - Reuters

04/09/2020 BRIEF-Apex Parks Says Co To Enter Into Stalking Horse Purchase Agreement, Files For Chapter 11 To Effectuate Sale  Reuters [more]
Tags: News, Reorganizations

Apex Parks Group Announces Financial Restructuring; Company To Enter Into Stalking Horse Purchase Agreement and Files for Chapter 11 to Effectuate Sale - PRNewswire

04/09/2020 Apex Parks Group Announces Financial Restructuring; Company To Enter Into Stalking Horse Purchase Agreement and Files for Chapter 11 to Effectuate Sale  PRNewswire [more]
Tags: News, Reorganizations

Pandemic adds to Logan's Roadhouse woes | News, Sports, Jobs - Parkersburg News

04/09/2020 Pandemic adds to Logan's Roadhouse woes | News, Sports, Jobs  Parkersburg News [more]
Tags: News, Reorganizations

Fire victims question PG&E proposal | News - North Bay Bohemian

04/08/2020 Fire victims question PG&E proposal | News  North Bay Bohemian [more]
Tags: Liquidation, News

Farmers face uncertain future amid global pandemic - ABC 57 News

04/08/2020 Farmers face uncertain future amid global pandemic  ABC 57 News [more]
Tags: Filings, News

Quorum Health Hopes For Quick Ch. 11 Exit - Law360

04/08/2020 Quorum Health Hopes For Quick Ch. 11 Exit  Law360 [more]
Tags: Filings, News

PG&E Tort Claimants Object To How Utility Plans To Pay Fine - Law360

04/08/2020 PG&E Tort Claimants Object To How Utility Plans To Pay Fine  Law360 [more]
Tags: Cases of Interest, News

PG&E Tort Claimants Object To How Utility Plans To Pay Fine - Law360

04/08/2020 PG&E Tort Claimants Object To How Utility Plans To Pay Fine  Law360 [more]
Tags: News, Reorganizations

Attorney general: North Slope Borough can't seize Ravn assets - Anchorage Daily News

04/08/2020 Attorney general: North Slope Borough can't seize Ravn assets  Anchorage Daily News [more]
Tags: News, Reorganizations

Blogs

Alternative lender rolls out contactless card amid pandemic

04/09/2020 Upgrade's hybrid loan-card product can now be used without swiping as consumers and retail workers seek to minimize spread of novel coronavirus. [more]
Tags: Bankruptcy Blogs, BankThink, Fintech, Marketplace lending, Point-of-sale, Renaud Laplanche

Is it time to worry about inflation — or deflation?

04/08/2020 With the government pumping trillions of new spending into the economy, experts are questioning the Federal Reserve's ability to keep prices stable. [more]
Tags: Bankruptcy Blogs, BankThink, Coronavirus, Crisis management, Federal Reserve, Inflation

How the coronavirus crisis is upending auto lending

04/08/2020 Closed showrooms, temporary bans on repossessions and a sudden spike in unemployment have dimmed the prospects of a sector that has boomed since the last recession. [more]
Tags: Ally Financial, Auto lending, Bankruptcy Blogs, BankThink, Capital One, Coronavirus, Credit quality, Santander Consumer USA

Third Circuit Allows Third Party Release on "Exceptional" Facts

04/08/2020 Third party releases have long been a controversial feature of certain chapter 11 plans. They are neither specifically allowed nor prohibited by the plain language of the Bankruptcy Code. This has led courts to reach differing results. There are two important principles at play in these cases. On [more]
Tags: ATexasBankruptcyLawyersBlog, Bankruptcy Blogs, equitable mootness, Stern v. Marshall, Third Circuit, third party releases

After opening-day fiasco, SBA upgrades lender portal with Amazon assist

04/08/2020 The agency overhauled its system for the Paycheck Protection Program on Wednesday. Lenders hope it addresses the access issues and a crash that bedeviled the effort’s first week. [more]
Tags: Bankruptcy Blogs, BankThink, Community banks, Coronavirus, Fintech, SBA, Small business lending

Senators urge oversight council to provide relief to mortgage servicers

04/08/2020 A bipartisan group of lawmakers wrote in a letter to the Treasury secretary that the Financial Stability Oversight Council should create a liquidity facility to deal with a flood of forbearance requests brought on by the coronavirus pandemic. [more]
Tags: Bankruptcy Blogs, BankThink, Coronavirus, Fannie Mae, FHFA, Freddie Mac, GSEs, Loss mitigation, Mark Calabria, Servicing

CARES Act "Rebates" and Bankruptcy

04/08/2020 Related to Pamela's last post and our article regarding garnishments and the CARES Act "rebates," the US Trustee issued a notice to Chapter 7 and Chapter 13 trustees giving them guidance on what to do about them in a bankruptcy case. The top line: these payments should not be included in the [more]
Tags: Bankruptcy Blogs, Bankruptcy Generally, consumer bankruptcy, CreditSlips, Debt Collection

Banks blame AML rules for emergency loan logjam

04/08/2020 They have asked the Financial Crimes Enforcement Network, the chief anti-money-laundering regulator, to let them collect customer information and verify it after the loan application is processed in order to speed approvals. [more]
Tags: AML, Bankruptcy Blogs, BankThink, Money laundering

This is no time for CRA reform

04/08/2020 Community advocates would like to see changes to the 1977 Community Reinvestment Act, but say regulators should suspend such efforts until the coronavirus pandemic has passed. [more]
Tags: Bankruptcy Blogs, BankThink, Community banking, Community health, Coronavirus, CRA, FDIC, OCC, Under-served populations

Expansion of Eligibility and Additional Guidance on the Paycheck Protection Program (Title I of the CARES Act)

04/08/2020 On April 7, 2020, the U.S. Department of Treasury (Treasury) released a 4/7/2020 Frequently Asked Questions sheet (FAQ)[1] with respect to the Paycheck Protection Program (PPP), as enacted under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The FAQ is supplemental to the (i) First [more]
Tags: Bankruptcy Blogs, BankruptcyandRestructuringBlog, CARES Act, Coronavirus