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Insolvency Service “reframes” view of creditor – IPs can apply their discretion (UK)

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Try The Community Property Two Step

How often are you faced with conflicting drivers for a bankruptcy case? One pressure says: File now! Another issue says: Wait! I saw this vividly this week when the couple walked in with a foreclosure sale in two weeks and $40,000 in taxes that won’t

When it’s Time to File Bankruptcy

You may wonder if it is time to file bankruptcy when you’re struggling to make good on financial obligations. Individuals looking to improve their financial situation become overwhelmed. Creditors tend to make things worse when they become aggressive

Complexity Causes Bad Decisions

Lending to American consumers, businesses and other entities is, as best practiced, far from a simple business. Going beyond this to dabble in opaque markets will inevitably degrade the competence with which banks' basic business is conducted.

The Daily Docket: Abound Enters Bankruptcy

Abound Solar Inc., the recipient of a federal loan guarantee from the U.S. Department of Energy, filed for Chapter 7 bankruptcy liquidation Monday. Read the Daily Bankruptcy Review article here. Lehman Brothers Holdings Inc.’s advisers at Alvarez &

'Living Wills' Present an Opportunity for Banks

Though banks must show they are resolvable, a financial institution can also use its resolution plan to advocate preferred solutions to issues on the horizon. And other lessons from the process so far.

U.K. Government Publishes Consultation Paper Regarding Draft Regulations Governing Remuneration Reports

Following closely on the heels of its announcement of a package of proposals intended to curb executive remuneration, the U.K. Government recently published a consultation paper focusing on the content of remuneration reports of UK-incorporated

U.K. Government Publishes Consultation Paper Regarding Draft Regulations Governing Remuneration Reports

Following closely on the heels of its announcement of a package of proposals intended to curb executive remuneration, the U.K. Government recently published a consultation paper focusing on the content of remuneration reports of UK-incorporated

Chapter 7: Discharge and Reaffirmation

When a debtor files for Chapter 7 bankruptcy, many of his/her debts may be discharged by the court. There are a few exceptions to this, but mostly it means that creditors may take no further actions to collect on the debt. There are a few reasons why

Dewey & LeBoeuf: Transparency

The United States Trustee for Region 2, as part of her commitment to transparency, recently filed an objection to proposed retentions that is clear as a bell and right on the money. It is about time someone shed light on why so many professionals are

Apropos of the proposed settlement offer to former Dewey & LeBoeuf partners anticipated to be made within the next couple of weeks

And with thanks to a dear friend, one of our first followers for sharing: Bankrupt Thelen Collects More Than $400,000 in Clawback Settlement with Four Law Firms By Sara Randazzo The Am Law Daily June 29, 2012 Thelen representatives informed a New

Arcapita Bank: Is the company selling off its assets outside of the ordinary course of business without obtaining Bankruptcy Court approval?

The answer should be no, per Bankruptcy Code section 363. But, according to a researcher of Islamic finance who has been following the case, the answer may be yes. . . . Per http://investhalal.blogspot.com/, Arcapita sold off its interests in Profine

Overspending in India

Check out this story in the New York Times about free-wheeling consumer credit in India. Much of the article focuses on how Indians are using consumer credit to pay for cosmetic surgery. At one point, I had a collection of online advertisements

Today in Bankruptcy – 7-2-2012

Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for July 2, 2012. Japan’s Sanko Steamship Files for Bankruptcy How Wall Street Scams Counties Into Bankruptcy Is Stockton the Start of a Rash of

Housing Finance Finally Emerges from the Great Shrivel. What Now?

We won't have another nationwide bubble for 35 years or so. By then, cautionary tales from 2007-09 will seem irrelevant to those with modern skills and advanced risk management capability.

Stockton, California Chapter 9 Filing - Another Outlier, Or Harbinger?

Meredith Whitney, one of the first financial analysts to foresee the collapse of the housing market, famously predicted in December 2010 that a wave of municipal bond defaults was on the way. The wave, however, has yet to materialize, and the

Dewey Docket Roundup: It Takes a Village, Part II

By Jennifer Smith Reuters As the liquidation of defunct law firm Dewey & LeBoeuf LLP grinds on, it appears that Law Blog isn’t the only one wondering how many professionals it takes to wind down a law firm. Late last week, U.S. trustee Tracy Hope

Understanding the Bankruptcy Discharge

A bankruptcy discharge relieves debtors from financial obligations of eligible debt, which often includes medical bills, credit cards and other qualifying debt that was included in your bankruptcy filing. The discharge also means creditors can no

The OFR's Other, Tougher Job: Get a 360-Degree View of Trades

You've probably heard of the Office of Financial Research's database for tracking financial companies like barcodes. It's also tasked with building another system that's equally critical - and a much greater technical challenge.

DIP Financing Rules Crystallized: Interim DIP Financing Arrangements Approved by the Ontario Court of Appeal

NORTH OF THE BORDER UPDATE This article has been contributed to the blog by Steven Golick, Mary Paterson and Lindsay Offner. Steven Golick is a partner in the insolvency and restructuring group of Osler, Hoskin & Harcourt, LLP, and Lindsay Offner is

How Rising Home Values May Threaten Your Long Term Finances

The news on the San Francisco Peninsula is echoing reports of rising home values. That may seem like unmitigated good news. It’s hard to see a genuine recovery in California without the housing market improving. But rising home values may doom a once