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

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5 sayings from Mom that are as good as gold

This Mother's Day, thank Mom for childhood advice that's useful in your financial life today.

Homeowners insurance: Reassess coverage

Does your homeowners policy reflect your current insurance needs? Re-evaluate your coverage.

Can I escape bad broker -- and transfer fees?

You think your broker is bananas. Be careful so breaking away doesn't cost you a bunch.

Debt Buyer Lawsuits: Are you being sued by someone you never heard of?

If you have run into financial problems and are unable to pay credit card payments you probably expect to hear from the bank. What you don’t expect is to be sued by a company that you never heard of. It is probably a debt buyer. This is becoming

One Court Takes A Narrow Reading of HSH Nordbank in Connection With Fraud Claims

We posted recently about the HSH Nordbank decision concerning the justifiable reliance element in fraud claims. A recent decision from Justice Kapnick in the New York State Supreme Court Commercial Division suggests a limited application of HSH

Will R-I-C-O Spell 'Relief' for B of A Mortgage Borrowers?

Louisiana has filed a RICO complaint against MERS and a host of megabanks, Bank of America included. Down the line, consumer advocates hope hard-nosed prosecutors can provide what Occupy may not be able to: justice for homeowners.

Heed a Banking Champion's Words on Loan Loss Reserves

How big should banks' loan loss reserves be? George Champion, chairman of Chase Manhattan in the 60s, advised: "at least 5% of total loans."

Executive Compensation 2012: The Revolution that Wasn't

Bankers received an earful about pay from the public this year. But among the audience that matters most-their own shareholders-the feedback was overwhelmingly positive.

Doggie DNA Tests: Waste of Money or Legitimate Tool?

Do mutt-lovers (with admittedly too much time and money on their hands) get anything in exchange for the $75-100 they pay to find out what kind of dog they have? It depends. My advice: before ordering a doggie DNA test over the net, do lots of

Consumer Scam Review: Lower Your Interest Rate, Lower Your Credit Card Balances, and Work at Home

I have been meaning to write on several consumer scams so here are a few to avoid. “We Can Lower Your Home Loan Interest Rate” Scams. We’ve all gotten the calls at home. “We can lower your interest rate.” “The banks got their bail-out, now get yours

"Too Broke to Go Bankrupt" - A Telling News Item

The emerging trend, according to a recent CNN Money article, is that the economy has tanked to the point people can't even afford to file for bankruptcy. Probably true, based on the experience of this law firm. When the crash hit in 2007, the biggest

"Too Broke to Go Bankrupt" - A Telling News Item

The emerging trend, according to a recent CNN Money article, is that the economy has tanked to the point people can't even afford to file for bankruptcy. Probably true, based on the experience of this law firm. When the crash hit in 2007, the biggest

"Too Broke to Go Bankrupt" - A Telling News Item

The emerging trend, according to a recent CNN Money article, is that the economy has tanked to the point people can't even afford to file for bankruptcy. Probably true, based on the experience of this law firm. When the crash hit in 2007, the biggest

Cross-border Insolvency: The European Court ofJustice on Determining the Centre of Main Interests

The European Court of Justice (“ ECJ ”) in Interedil Srl (in liquidation) vFallimento Interedil Srl, Intesa Gestione Crediti SpA has provided further guidance on determining a debtor company’s centre of main interests and on interpreting the term

Cross-border Insolvency: The European Court ofJustice on Determining the Centre of Main Interests

The European Court of Justice (“ ECJ ”) in Interedil Srl (in liquidation) vFallimento Interedil Srl, Intesa Gestione Crediti SpA has provided further guidance on determining a debtor company’s centre of main interests and on interpreting the term

Cross-border Insolvency: The European Court ofJustice on Determining the Centre of Main Interests

The European Court of Justice (“ ECJ ”) in Interedil Srl (in liquidation) vFallimento Interedil Srl, Intesa Gestione Crediti SpA has provided further guidance on determining a debtor company’s centre of main interests and on interpreting the term

Cross-border Insolvency: The European Court ofJustice on Determining the Centre of Main Interests

The European Court of Justice (“ ECJ ”) in Interedil Srl (in liquidation) vFallimento Interedil Srl, Intesa Gestione Crediti SpA has provided further guidance on determining a debtor company’s centre of main interests and on interpreting the term

Eleventh Circuit Holds that Indenture’s “No-Action” Clause Bars Fraudulent Transfer Actions by Individual Noteholders

“No-action” or “collective action” clauses – common fixtures in most indentures and credit agreements – limit the rights of lenders to commence actions against borrowers independently. No-action clauses generally require a certain threshold

Millennial Generation Shows Low Levels of Financial Literacy

Today’s younger generations have a shockingly low level of financial literacy, and the trend has been growing worse over the past few years, according to a recent report in USA Today. Sources say that the average person in his or her 20s has a total

Seventh Circuit Expands its View on Indubitable Equivalent Cramdowns in In re River East Plaza, LLC

Last year the Seventh Circuit disagreed with opinions issued by the Third and Fifth Circuits on whether a debtor may confirm a plan under the Code's indubitable equivalent cram down provisions with a plan which provides for a sale of a secured