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

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Fictional Banker, Real Tragedy

As the CEO of the local community bank entered the conference room for the start of the most dispirited board meeting in his bank's 100-plus year history, he was dying a little inside.

When must lenders tell you your credit score?

In certain instances, a lender must reveal your credit score. Find out when.

Maximizing your capital gains exclusion

When figuring your home's adjusted basis, include its cost and any improvements to the property.

What 6 classic movies say about holiday spending

Here are sweet (and cynical) lessons we learned from a half-dozen classic holiday flicks.

Hard Questions Lawmakers Should Ask at MF Global Hearing

Why did PricewaterhouseCoopers allow MF Global financial statements to be issued with a clean audit opinion? Why wasn't there a "going concern" warning?

Dramatize Wall Street: Films that Capture Finance

When I first read about "Margin Call," a movie purporting to capture the drama of a Wall Street investment firm going belly-up, my response was of the "why bother" variety. Then I actually saw it.

Centro Properties Group Reorganizes: One Small Step for Man, One Giant Leap for Australian Restructurings

After four long years, Australia-based Centro Properties Group (“CNP”) has consummated a global restructuring that combines a debt-for-equity swap with an aggregation of its assets into a new real estate investment trust, Centro Retail Australia (

Mobile PACER Case Locator Debuts

The most widely used feature of the federal Judiciary’s Public Access to Court Electronic Records (PACER) service has gone mobile. Read more here.

American Airlines' $30 million London town house

"Buried deep in American Airlines' Chapter 11 bankruptcy filing is a striking asset -- a town house in one of London's most expensive residential streets that property experts say could be worth up to $30 million." Read more here.

Stop One of the Biggest Causes of Bankruptcy in its Tracks

When you think of bankruptcy, do you think of people who’ve suffered from medical emergencies? Do you envision a bankruptcy court that’s filled with individuals who’ve been irresponsible with their money? If that sounds familiar to you, then it’s

After Beso Bankruptcy, Longoria to Produce TV Legal Drama

Associated Press Eva Longoria For Eva Longoria, art imitates life. The “Desperate Housewives” actress spent the past year embroiled in legal drama with investors in her Las Vegas restaurant Beso and will now produce a legal drama for the CW

Bankruptcy Protects Debtors From Unreasonable Attorney Fees

Besides the fear of affordability, many debtors fear that the fees charged for their bankruptcy case may be unreasonable. Fortunately, the bankruptcy code has anticipated the need to protect debtors from unreasonable attorney fees. Below we examine

In re Lothian Oil Inc.: Non-Insider Debt Claims May Be Recharacterized as Equity Under Section 501(b)(1)

By: David N. Saponara St. John’s Law Student American Bankruptcy Institute Law Review Staff Shifting the focus of the recharacterization analysis, the Fifth Circuit in Grossman v. Lothian Oil Inc. (In re Lothian Oil Inc.) [1] relied upon section 502

Will Secured Creditors’ Right to Credit Bid be a ‘Cert’ain Thing? Supreme Court Grants Certiorari to Resolve Circuit Split

Nearly six months ago, the secured lenders in the River Road Hotel Partners, LLC v. Amalgamated Bank bankruptcy cases, and no doubt lenders nationwide, breathed a sigh of relief as the United States Court of Appeals for the Seventh Circuit concluded

Morgan Stanley Settles CDS Claims and Restructuring Objections with MBIA

Yesterday, various news outlets reported that MBIA and Morgan Stanley reached a deal to settle litigation involving MBIA’s claims relating to the quality of bonds underlying credit default swaps and Morgan Stanley’s objections to MBIA’s restructuring

Business Rights, Obligations And Responsibilities In Bankruptcy?

When a business owner files bankruptcy, they have certain rights, obligations and responsibilities. Let’s take a closer look at a few of the facts: Right To Operate If a debtor places their business in Chapter 11 bankruptcy, they generally have the

The Daily Docket: WaMu Unveils Deal With Shareholders

Washington Mutual Inc. unveiled a new proposed settlement with shareholders who have held up confirmation of its Chapter 11 plan and a $7 billion payday for creditors. Read the Daily Bankruptcy Review story here. The judge who threw Harrisburg

The Difference Between a Bankruptcy Discharge and a Reaffirmation Agreement

Those who are considering bankruptcy oftentimes have questions regarding the various terminologies – as it can be confusing. When going through the bankruptcy process, it is important to understand the difference between a bankruptcy discharge and a

Web-based Accredited-investor Learning-center Launched by DailyDAC to Help People Invest in Private Equity, Venture Capital, Hedge Funds, and Private Placements

DailyDAC is eager to announce a couple exciting new updates. First, a complete re-design of our website has now enabled a more searchable database for our subscribers to interact with to find investment opportunities. Secondly, DailyDAC announces its

Safe places to stash cash in an uncertain world

When markets fall, where can investors duck for cover? Safe havens exist.