ABI Blog Exchange

The Texas Two-Step: The New Fad in Fraudulent Transfers

There's a new fad in fraudulent transfers. It's called the Texas Two-Step. Here's how it goes. A company has a lot of tort liabilities (e.g., asbestos, talc, benzene, Roundup). The company transforms into a Texas corporate entity (the particular type

Citigroup cuts off its $495-a-year rival to Amex’s Platinum card

Does Your Corporation Really Protect You From Debt: A Checklist

Business people usually incorporate their business to create a barrier between themselves and the debts of the business. They hope to insulate themselves from possible financial failure of the company. But all too many entrepreneurs stop working on

Fintech, crypto firms boost NBA marketing spending as banks cut back

Hotel lending improves as pandemic eases, but risks remain

15 Years of Credit Slips

Today marks fifteen years of the Credit Slips blog. We started modestly on this date in 2006 while we were in the throes of doing all the tedious ground work for what would be the 2007 version of the Consumer Bankruptcy Project. After 15 years, I

The Emperor's Old Bonds

Andres Paciuc, Mike Chen & Charlie Fendrych, have just published their delightful paper on Chinese Imperial Debt in the Duke Journal of Comparative and International Law. This is a version of a paper that they did for my sovereign debt class with

Second Circuit Holds Many Private Student Loans Are Dischargeable in Bankruptcy

The 2d Circuit this week joined the 5th and 10th Circuits in holding that the discharge exception in 11 U.S.C. § 523(a)(8)(A)(ii) for "an obligation to repay funds received as an educational benefit, scholarship, or stipend" doesn’t cover private

Wells Fargo tells employees to return to work in two waves this fall

Cash unwanted by banks piles up at the Fed reverse repo facility