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

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Mortgage Modification Tips: Knowing What to Expect in Getting Through the Process.

Mortgage modification may be an option for homeowners unable to refinance their home or seeking foreclosure prevention. Many homeowners are often skeptical at getting a modification due to hearing myths, being misinformed or claiming it is just

The Daily Docket: RG Steel Enters Bankruptcy

RG Steel LLC filed for Chapter 11 bankruptcy protection Thursday, days after admitting it was “confronted with an immediate, unexpected liquidity crisis.” Read the Daily Bankruptcy Review article here. (Daily Bankruptcy Review and DBR Small Cap are

Accounting Should Guide Volcker Rule on What Counts as a Hedge

The regulators' proposal doesn't consider accounting rules for deciding which trades are proprietary and which ones get the exemption for hedging. That leaves plenty of room for regulatory arbitrage by banks.

WP Steel Venture LLC and Affiliates File for Chapter 11 Protection

Earlier today, WP Steel Venture LLC (“ WP Steel”) and seven affiliates (the “ Affiliated Debtors,” and, collectively with WP Steel, the “ Debtors”) filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. The

Bankruptcy is Like Spring!

How can bankruptcy be like spring? Springtime is a renewal…a rejuvenation. New life is born in spring. Spring provides rekindled hope and a fresh start. So it is when you file bankruptcy. Pulling weeds this weekend that were ignored since last summer

The Bully Model of Consumer Finance and Litigation

There's a fearful symmetry in the consumer finance world. It's a symmetry of bullies between overreaching financial institutions and plaintiff strike suits, as in both, litigation costs present a ceiling, under which there's a license to overreach

Reputational Sanctions in an Age of Internet Manipulation?

A major argument against substantive regulation of industries (including consumer finance) is that the market self-regulates. Bad actors get bad reputations and lose business. Therefore, there's no need for government to intervene. This type of

Arcapita Bank - Attending the Bankruptcy Court Hearing in New York City on May 31, 2012

A hearing has been scheduled to take place in New York City on May 31, 2012, 2 pm (Eastern Standard Time) in Arcapita Bank's chapter 11 proceedings. The hearing will be before the Honorable United States Bankruptcy Judge Sean H. Lane, and is open to

A Silicon Valley Road Map for Banking the Underbanked

What would happen if you took the creativity and user-focused design sensibility of Silicon Valley and applied it to one of the least consumer-friendly industries on the planet - financial services?

Today in Bankruptcy – 5-30-2012

Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for May 30, 2012. Firm that Represented Dodgers Owner Frank McCourt in Bankruptcy Goes Bankrupt I Filed For Bankruptcy At 23 via Huffington Post

If Divorce Wasn't Bad Enough - Now Bankruptcy!

Unfortunately going through divorce is not just an emotional roller coaster but it's also a financial disaster. It has been my experience that most married couples rely heavily on two incomes. Losing an income makes it impossible to maintain their

More Insights from Mid-Season Proxy Reviews

We're at that stage during proxy season when observers analyze and come to preliminary views of the results so far, as we did ourselves in this memo. With more annual meetings having taken place, many focus on the voting tallies for shareholder

More Insights from Mid-Season Proxy Reviews

We're at that stage during proxy season when observers analyze and come to preliminary views of the results so far, as we did ourselves in this memo. With more annual meetings having taken place, many focus on the voting tallies for shareholder

Former NFL Star Warren Sapp Files Chapter 7 Bankruptcy

Warren Sapp, former NFL defensive tackle for the Oakland Raiders and Tampa Bay Buccaneers, filed for Chapter 7 bankruptcy protection late March in South Florida, according to TMZ and the Washington Post. While many may think he’s making good income

Farm Linked to Listeria Outbreak Files for Bankruptcy

Associated Press In this Sept. 28, 2011, file photo, cantaloupes rot in the afternoon heat on a field at Jensen Farms. A cantaloupe farm linked to a September 2011 listeria outbreak that caused 30 deaths and made hundreds sick filed for Chapter 11

Never Showing Favor To Creditors

Even though it is natural for someone that is filing for bankruptcy to want to favor one creditor over another, the unfortunate fact in bankruptcy is that all similar class creditors must be treated fair and equal. It does not matter if this favored

Tousa: A Cautionary Tale for Lenders

On May 15, 2012, the Eleventh Circuit Court of Appeals issued its long-awaited decision in the In re: Tousa, Inc. fraudulent transfer litigation. The Court affirmed the Bankruptcy Court holding that the “Transeastern Lenders” received fraudulent

Tousa: A Cautionary Tale for Lenders

On May 15, 2012, the Eleventh Circuit Court of Appeals issued its long-awaited decision in the In re: Tousa, Inc. fraudulent transfer litigation. The Court affirmed the Bankruptcy Court holding that the “Transeastern Lenders” received fraudulent

Tousa: A Cautionary Tale for Lenders

On May 15, 2012, the Eleventh Circuit Court of Appeals issued its long-awaited decision in the In re: Tousa, Inc. fraudulent transfer litigation. The Court affirmed the Bankruptcy Court holding that the “Transeastern Lenders” received fraudulent

Tousa: A Cautionary Tale for Lenders

On May 15, 2012, the Eleventh Circuit Court of Appeals issued its long-awaited decision in the In re: Tousa, Inc. fraudulent transfer litigation. The Court affirmed the Bankruptcy Court holding that the “Transeastern Lenders” received fraudulent