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

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Wells Fargo ditches Abbot Downing name for ultrarich clients

Wells Fargo is dropping the Abbot Downing name for managing ultrarich clients’ money as wealth and investment management head Barry Sommers remakes the unit.

CVAs – a quick guide for UK landlords and other creditors when faced with a CVA proposal

There has been a significant increase in the use of CVAs, in particular in the retail and hospitality sector over the last 12 to 24 months, largely impacting landlord creditors. A CVA proposal can often run to hundreds of pages, and understanding

Combating hate crimes is one of this Asian American neobank's goals

Cheese, a new challenger bank aimed at Asian Americans and immigrants to the U.S., has established a fund to support groups that serve communities affected by racist attacks and economic hardship during the pandemic.

UK court provides further clarity on the ‘coronavirus test’ for winding up petitions

The case of Newman v Templar Corp Ltd [2020] EWHC 3740 (Ch) came before the courts in December 2020 and provides a helpful example as to when a winding up petition can overcome the ‘coronavirus test’ set out in Schedule 10 of the Corporate Insolvency

UK Government announces that restrictions on forfeiture will be extended

It is perhaps not unsurprising that the prohibition on landlords taking forfeiture action will be extended until 30 June 2021 given that the UK government has extended other support measures for UK businesses (such as the furlough scheme) and is keen

New Chapter 11 Filing – Sundance Energy Inc.

On March 9, 2021, Sundance Energy Inc. and certain affiliates, which operate an onshore independent oil and natural gas company headquartered in Denver, Colorado, filed petitions for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy

New Chapter 11 Filing – Sundance Energy Inc.

On March 9, 2021, Sundance Energy Inc. and certain affiliates, which operate an onshore independent oil and natural gas company headquartered in Denver, Colorado, filed petitions for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy

New Chapter 11 Filing – SC SJ Holdings LLC

On March 10, 2021, SC SJ Holdings LLC, the owner and former lessee of an 805-room hotel located in downtown San Jose, California, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware

New Chapter 11 Filing – SC SJ Holdings LLC

On March 10, 2021, SC SJ Holdings LLC, the owner and former lessee of an 805-room hotel located in downtown San Jose, California, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware

Amid losses, LendingClub lays out long-term vision for its bank

The company is anticipating at least $175 million in losses in 2021, but its recent acquisition of Radius Bancorp will reduce funding costs and allow it to develop a full gamut of banking products that its CEO says will eventually yield big profits.

New Chapter 11 Filing – Guiora LLC

On March 10, 2021, Guiora LLC, the owner of a six-bed, 11,846 square-foot residential property located at 705 N. Alta Drive in Beverly Hills, California, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for

New Chapter 11 Filing – Guiora LLC

On March 10, 2021, Guiora LLC, the owner of a six-bed, 11,846 square-foot residential property located at 705 N. Alta Drive in Beverly Hills, California, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for

What Qualifies As “Engaged In Business Or Commercial Activities” For Subchapter V Eligibility? (In re U Stop)

By: Donald L Swanson Negotiating a lease for office space in a portion of the debtor’s business premises qualifies as “engaged in commercial or business activities” on the petition date for Subchapter V eligibility. That’s the ruling by Hon. Charles

Chopra, Gensler nominations move forward; Goldman’s $10B investment in Black women

Biden’s CFPB and SEC choices move to the full Senate following mostly party-line banking committee votes; the bank is making a 10-year commitment to channel capital to benefit Black women.

Behind On Mortgage Or Rent?

You are not alone. . . . something on the order of 12 million renting households who collectively owe back rent that may add up to more than $70 billion, by one estimate. Moody’s Analytics calculates that the typical distressed-renter household owes

Credit unions need younger members. Can TikTok help?

The social media platform skews toward a more youthful demographic, while credit unions' average member age has been stuck in the late 40s for decades. But even institutions that use it have concerns about security.

Outsider emerges as top contender to lead OCC

Many in Washington have been in suspense about whether the Biden administration would favor a former Obama official or a financial inclusion advocate for comptroller of the currency. Mehrsa Baradaran, the candidate preferred by community activist

Distressed Debt Investing & Restructuring | Family Offices Perspective

Gordian Group CEO Henry F. Owsley and Family Office Advisor, David Beach discuss financial advisory services for family offices with special focus on distressed situations and distressed debt investing with Chase Robertson and Peggy Tuck of Straight

Regional banks wonder: When’s the right time to release loss reserves?

M&T Bank, Citizens Financial and Huntington Bancshares are playing it safe even as some of their counterparts have started to trim allowances in response to government stimulus efforts and rapid progress in the rollout of the coronavirus vaccine.

House members receptive to extending PPP deadline

Legislators expressed concerns that thousands of pending applications are stuck in limbo just weeks before the Small Business Administration is legally required to stop accepting them.