News

Today's News

July 12, 2020 - 10 new headlines

Creative Destruction: A High-Risk Idea That Nobody Wants to Test - Yahoo Canada Finance

07/12/2020 Creative Destruction: A High-Risk Idea That Nobody Wants to Test  Yahoo Canada Finance [more]
Tags: Filings, News

Brooks Brothers, Muji, and a Steady Drumbeat of Sad Bankruptcies - Bloomberg

07/12/2020 Brooks Brothers, Muji, and a Steady Drumbeat of Sad Bankruptcies  Bloomberg [more]
Tags: News, Reorganizations

Brooks Brothers, Muji, and a Steady Drumbeat of Sad Bankruptcies - Bloomberg

07/12/2020 Brooks Brothers, Muji, and a Steady Drumbeat of Sad Bankruptcies  Bloomberg [more]
Tags: Filings, News

Lancaster County bankruptcies: July 12, 2020 | Bankruptcies in Lancaster County - LancasterOnline

07/12/2020 Lancaster County bankruptcies: July 12, 2020 | Bankruptcies in Lancaster County  LancasterOnline [more]
Tags: Liquidation, News

Jul 12 Gov. Cooper files motion to dismiss Town of La Grange lawsuit - Neuse News

07/12/2020 Jul 12 Gov. Cooper files motion to dismiss Town of La Grange lawsuit  Neuse News [more]
Tags: Liquidation, News

FM reviews Aatmanirbhar Bharat package, Rs 62k cr disbursed under ECLGS - Outlook India

07/12/2020 FM reviews Aatmanirbhar Bharat package, Rs 62k cr disbursed under ECLGS  Outlook India [more]
Tags: Liquidation, News

Special scheme to rescue bankrupt small businesses soon - Livemint

07/12/2020 Special scheme to rescue bankrupt small businesses soon  Livemint [more]
Tags: Cases of Interest, News

Bankrupt no longer, telecom sets course - Arkansas Democrat-Gazette

07/12/2020 Bankrupt no longer, telecom sets course  Arkansas Democrat-Gazette [more]
Tags: Filings, News

Local bankruptcy filings drop to 15-year low during coronavirus pandemic - Chattanooga Times Free Press

07/12/2020 Local bankruptcy filings drop to 15-year low during coronavirus pandemic  Chattanooga Times Free Press [more]
Tags: Filings, News

COVID-19: Retailer Closing Hudson Valley Location | Ulster Sullivan Daily Voice - Rye Daily Voice

07/11/2020 COVID-19: Retailer Closing Hudson Valley Location | Ulster Sullivan Daily Voice  Rye Daily Voice [more]
Tags: News, Reorganizations

Blogs

PDVSA’s 2020 Bonds: When and Why Does Venezuelan Law Matter?

07/12/2020 Mark Weidemaier and Mitu Gulati In 2016, the Maduro government bought some time through a debt exchange in which holders of maturing bonds issued by state oil company PDVSA swapped them for new bonds due in 2020. The new bonds were collateralized by a 50.1% interest in the U.S. parent company of [more]
Tags: Bankruptcy Blogs, CreditSlips, Sovereign Debt

Fintech shakeout, Main Street loan quandary, PNC diversifies leadership: Top stories of the week

07/11/2020 New president of Promontory Interfinancial Network says recession will cause "hundreds" of nonbank disruptors to fail; lenders face dilemma over offering Main Street loans to noncustomers; PNC Financial expands, diversifies executive leadership team; and more from this week’s most-read stories. [more]
Tags: Bankruptcy Blogs, BankThink, Diversity and equality, Election 2020, Fintech, Goldman Sachs, ILCs, Joe Biden, Main Street Lending Program, PNC Financial Services Group, SoFi, Wells Fargo

PPP spotlights shortcomings in credit unions' small-business push

07/10/2020 For all banks' claims that credit unions pose a threat to their commercial lending market share, they've accounted for just 2% of volume in the Paycheck Protection Program. [more]
Tags: Bankruptcy Blogs, BankThink, Coronavirus, Credit unions, Paycheck Protection Program, SBA, Small business lending

Wells Fargo expands nonconforming jumbo refi loan criteria

07/10/2020 However, those who aren't current bank customers need to have $1 million in a qualifying account. [more]
Tags: Bankruptcy Blogs, BankThink, Digital Mortgage 2020, Jumbo mortgages, Mortgage Bankers Association, Purchase, Refinance, Wells Fargo

Paycheck Protection Program: Updated Loan Forgiveness Estimator Workbook

07/10/2020 Below please find a link to a newly-updated version of the Sheppard, Mullin, Richter & Hampton LLP (Sheppard Mullin) Paycheck Protection Program (PPP) Loan Forgiveness Estimator Workbook (the Workbook), which was created by and is the property of Sheppard Mullin. The Workbook updates and [more]
Tags: Bankruptcy Blogs, BankruptcyandRestructuringBlog, Coronavirus, Estimator Workbook, Uncategorized

Senate Banking Committee to consider controversial Fed board pick

07/10/2020 The panel later this month will vote on the nomination of Judy Shelton, whose views on certain policy issues have met with skepticism from both Democrats and Republicans. [more]
Tags: Bankruptcy Blogs, BankThink, Deposit insurance, Federal Reserve, Mike Crapo, monetary policy, Senate Banking Committee, Sherrod Brown

Banks seek more fintech help for PPP's next phase

07/10/2020 After tech firms assisted community bankers in processing applications in the Paycheck Protection Program, small-business lenders are continuing to engage with cloud providers and other outside companies to automate the loan forgiveness process. [more]
Tags: Bankruptcy Blogs, BankThink, CARES Act, Community banking, Digital Banking 2020, FIS, Paycheck Protection Program, SBA, Small business lending

Tennessee bank merger to create $1 billion-asset lender

07/10/2020 Citizens Bancorp Investment has agreed to buy American Bancshares in a deal expected to close later this year. [more]
Tags: Bankruptcy Blogs, BankThink, Community banking, Growth strategies, M&A, Tennessee

As mortgage woes return, lessons from last crisis come to light

07/10/2020 A subprime-related settlement between the government and Deutsche Bank provided meaningful benefits to some U.S. consumers in need, according to a new report. But the author acknowledged that those gains could prove illusory for some consumers given the coronavirus crisis. [more]
Tags: Bankruptcy Blogs, BankThink, Coronavirus, Deutsche Bank, mortgages, Subprime lending

Don’t weaken the G-SIB surcharge

07/10/2020 The Fed has already eased certain capital requirements in response to the coronavirus pandemic. It should avoid making any further adjustments to the surcharge, which is meant to keep global banks from creating systemic risks. [more]
Tags: Bankruptcy Blogs, BankThink, Basel, Capital requirements, Coronavirus, Federal Reserve, GSIBs, JPMorgan Chase