ABI Blog Exchange

El  Departamento de Seguridad Pública y Servicios Penales del Estado de Maryland explica que a través de la cancelación de antecedentes penales usted puede eliminar registros de la corte y de la policía de la inspección pública. (1) Un record criminal puede tener ciertas consecuencias en su  vida personal y profesional, es por eso que la mayor parte de las personas deciden llenar una solicitud para eliminación de antecedentes penales. En una entrada anterior de mi blog, expliqué la importancia de obtener copias certificadas de los registros de la Corte mostrando claramente la resolución de su caso antes de aplicar para la cancelación de antecedentes penales especialmente si usted no es ciudadano de los Estados Unidos. Por favor vea http://www.scholnicklaw.com/2012/01/start-the-new-year-by-expunging-old-records/ Si usted elimina su historial criminal sin antes obtener copias certificadas de los registros de la Corte con la resolución del caso y en un futuro desea aplicar para obtener la Ciudadanía o en el peor de los escenarios, usted se enfrenta a algún proceso de deportación sería difícil demostrar que el caso fue desestimado si no existe prueba oficial.

Read More from: Scholnick Law

3 hours 55 min ago
I have been practicing bankruptcy law since 1991. I have seen a drastic difference in the way that student loans are handled in bankruptcy cases. Prior to 1998, a student loan was potentially dischargeable if it had been in repayment status for more than seven years. This basically meant that an old student loan debt+ Read More The post Remembering Back When Student Loans Were Dischargeable appeared first on David M. Siegel.
6 hours 31 min ago
Millennials may be a critical market segment for some banks, but the people now in their 20s and 30s also tend to be low-balance, transitory accountholders. It may make more sense for banks to focus their marketing dollars on the ex-slackers known as Gen X instead.

Read More from: BankThink

6 hours 42 min ago
Walworth County Real Estate Attorney, Shannon Wynn, wants you to know about some important real estate tax breaks you can claim on your Federal and State income tax returns. With income tax returns due in the next couple weeks, there is no time like the present to make sure you have claimed all your deductions and credits. To take advantage of real estate tax deductions, you will have to itemize your deductions. For most Walworth County residents, itemizing your deductions is always well worth the effort. However, to be sure, compare your itemized deduction amount to the standard deduction amount and always choose the option providing you with the larger deduction. When itemizing your deductions, refer to this list of homeowner tax breaks. Below we have detailed some of the best Walworth County real estate tax deductions.

Read More from: Wynn at Law, LLC

6 hours 44 min ago
Before filing your bankruptcy case, it is important to decide if bankruptcy is your best option. Depending on the specifics of your financial problems, we will gather and discuss a great many facts in your case. We will want to know all aspects of your financial situation and what your desired outcomes are. It may be difficult to discuss all the circumstances you are facing in bankruptcy. However, if you are to take full advantage of the protections offered you under the United States and Arizona bankruptcy laws, we must know everything, including who and what you owe, whether or not you are behind on your payments, and any other financial information.The post Gathering All the Necessary Facts appeared first on Tucson Bankruptcy Attorney.
7 hours 35 min ago
In-store bankers are experts in finding creative ways to catch potential customers' attention. That's a skill that every modern bank employee needs to hone.

Read More from: BankThink

8 hours 42 min ago
On Wednesday, Congress announced the passage of the Bankruptcy Sale Incentive and Senior Support Act (“BSISSA”), which will make effective for those over age 65 a 15% discount on all 363 sales consummated on Tuesdays before 4:00 pm. House Speaker John Boehner made the announcement from a Golden Corral outside Scottsdale, Arizona. “We are pleased that BSISSA was supported by those on both sides of the aisle,” Boehner said. “It is our hope that the new senior discount will drive additional midweek traffic to the bankruptcy courts, and will encourage prospective bidders to go bankruptcy shopping with their grandparents and other friends and relatives.”   Dorothy Dickstein, of Coconut Creek, Florida, has been following the legislation since its inception.  “I’ve had my eye on a few dozen Radio Shack locations for weeks now, and I’ve been hoping the Act would pass in time for me to benefit from the discount.”  According to Mrs. Dickstein, who goes by “Bubby,”  a number of local mah-jongg clubs have been considering forming a consortium to buy intellectual property licenses in several chapter 11 cases.
9 hours 31 sec ago
Mortgage modifications were supposed to save the day. They promised to keep homeowners in their homes despite the housing crash of the Great Recession. To some extent that has worked. Or at least mortgage modifications spread the failures out over time so that the market wasn’t glutted with foreclosed properties. But anyone who has attempted a mortgage modification knows first hand the frustration of submitting an application to the servicer. Over and over, the servicer claims that you haven’t sent the documents, or the documents are stale or incomplete. That inability to account for documents is, I’m afraid, just a sneak-peak at the next mortgage horror:
Servicers have no records about the loans they did modify.
Or, more precisely, the records they have are not to be trusted. The hundred grand mistake I saw the first instance of this nightmare this week when my client’s request for a loan payoff in connection with a sale. The loan had been modified some five years ago, with the result that a sizable hunk of the amount due when the loan was modified was due only upon sale. Asked for a payoff, the servicer returned a payoff that failed to include some $127,000 of non interest bearing principal.
9 hours 8 min ago
Keith Bedford for The Wall Street Journal
RadioShack Corp. won court approval of a lender takeover that will send the retailer out of bankruptcy in pared-down form, but still selling electronics. The Wall Street Journal has the Daily Bankruptcy Review article here. (Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit http://on.wsj.com/DJBankruptcyNews, scroll to the bottom and click “try for free.”) Brazil’s Grupo OAS filed for bankruptcy amid an investigation into alleged corruption, WSJ reports. EveryWare Global Inc., manufacturer of Anchor Hocking and Oneida kitchen products, said Wednesday that it has reached a deal on the terms of a debt-for-equity swap that calls for its senior lenders to take control of the company. Read the DBR article here.

Read More from: WSJ.com: Bankruptcy Beat

9 hours 18 min ago
Wall Street Journal Fair Isaac is developing a new credit score that's aimed at the millions of people who currently don't have credit scores and are cut off from auto loans, credit cards and mortgages. About 53 million Americans are now unable to qualify for most types of bank-issued consumer credit because they don't have a credit history. The product "is largely a response to banksÂ' desire to boost lending volumes by increasing loan originations to...

Read More from: BankThink

9 hours 27 min ago
The SEC charged that the former CEO of Polycom used corporate funds to pay for about $190,000 of personal perks for several years that were not disclosed. During that time, the CEO's total compensation as reported ranged from more than $4 to over $7 million annually.
10 hours 1 min ago
Rev Op Group v. ML Manager LLC (In re Mortgages Ltd.), 771 F.3d 623 (9th Cir. 2014) – Under the terms of a debtor’s confirmed plan of reorganization, an entity (ML Manager) was designated to manage the debtor’s portfolio of mortgage … Continue reading →
12 hours 42 min ago
Posted by Kathy Bazoian Phelps    Below is a summary of the activity reported for March 2015. The reported stories reflect: 4 guilty pleas or convictions in pending cases; over 54 years of newly imposed sentences for people involved in Ponzi schemes; a possible new massive Ponzi scheme involving $16 billion; and an average age of approximately 48 for the alleged Ponzi schemers. Please feel free to post comments about these or other Ponzi schemes that I may have missed. And please remember that I am just relaying what’s in the news, not writing or verifying it.    Bryan W. Anderson, 40, pleaded guilty to running a Ponzi scheme that lured in 18 investors who invested $8.4 million. It is believed that 12 investors ended up losing about $3.1 million. Anderson promised the investors that their investments were 100% risk-free and had a guaranteed rate of return of 5% to 20%. He solicited them to invest in stock options and to invest in his company, 360 Properties.    Charles A. Bennett, 56, is in plea talks relating to an alleged $5 million Ponzi scheme that Bennett confessed to in a note written before a failed suicide attempt.

Read More from: The Ponzi Blog

1 day 42 min ago
With the RadioShack Corporation bankruptcy action affecting the rights of many commercial landlords, it is important to determine ways that landlords can protect themselves during the course of the bankruptcy action. First, requiring a third-party guarantor is one way in which a landlord may obtain better creditor protection when entering into a lease. The automatic stay does not prevent a landlord from taking action against a guarantor to a corporate debtor-tenants’ lease, provided the lease guarantor is not in bankruptcy. Landlords can also seek protection through letters of credit. Using a properly drafted letter of credit allows a landlord to draw on the proceeds of the letter of credit from a third party (the lender) should the tenant default under the lease.  Letters of credit are generally not considered property of the tenant’s bankruptcy estate.  Some of the drawbacks to letters of credit include their complexity, both during lease preparations, as well as execution after default.
1 day 1 hour ago
Judge Christopher Sontchi issued a notable opinion last week in the bankruptcy case of Energy Future Holdings Corp., et al. (“EFH”), Case No. 14-10979 (D. Del.), ruling that the repayment in full of certain senior secured notes did not trigger an obligation by the debtors to pay a make-whole premium. One important aspect of this decision is that Judge Sontchi closely followed the reasoning of Judge Robert Drain last year in a similar decision involving a make-whole premium in MPM Silicones, LLC, et al. (“Momentive”), Case No. 14-22503 (S.D.N.Y.), thus extending the rationale of that decision, as well as earlier Southern District of New York cases such as In re Solutia, Inc., and In re Calpine Corp., into Delaware for the first time. (Kelley Drye & Warren LLP represents certain creditors in the EFH cases, but has had no role in these proceedings.)

Read More from: Bankruptcy Law Insights

1 day 2 hours ago
The Editorial Staff at CommercialBankruptcyLitigation.com provides a quick overview of the ramifications of a lender declaring a default on a commercial loan. Read more in this 90 second lesson here!
1 day 2 hours ago
In an article written at CommercialBankruptcyInvestor.com, Jon Petersen provides an introduction on how to analyze a distressed company. Read more about this interesting topic here!
1 day 2 hours ago
Morris James LLP has formed a Data Privacy and Information Governance Group. The Data Privacy and Information Governance Group is an interdisciplinary team of corporate and fiduciary duty attorneys, attorneys well-versed in electronic data storage and discovery, attorneys with bankruptcy and insurance-related backgrounds, and non-attorney IT staff knowledgeable about trends in data security and technology. Together, the group advises boards of directors and officers in assessing and managing risk and defending claims for alleged breach of fiduciary duty arising from data breaches. “Our new group combines extensive knowledge and experience in various aspects of law with current data privacy issues which businesses and corporate officers and directors face today,” said David H. Williams, Managing Partner. The group will offer the following services:
  • Counseling companies’ directors and officers, or special committees, on complying with fiduciary duties and making informed decisions to prevent and/or respond to data breaches;
  • Advising clients on document retention and litigation readiness with an eye toward reducing potential costs of eDiscovery;
  • Helping businesses evaluate and understand their obligations to protect personally identifiable information (PII) and their reporting obligations if the business suffers a data breach; and
1 day 4 hours ago
The sweeping reforms passed in 2010 didn't bring community banks to the brink of extinction. Rather, their numbers have dwindled because of the impact of economies of scale and dormant de novo banking activity.

Read More from: BankThink

1 day 6 hours ago
Anyone investing equity in an enterprise, whether creating a start-up or purchasing an established company, is a natural optimist.  The hope is that the business will continue to perform well and yield its owners substantial profits year-after-year (and then maybe a hefty return upon exit).  But, as those of us in restructuring know, not every company enjoys positive returns all the time.  Businesses go through down cycles for different reasons – whether it be the overall economic climate (think 2008), issues specific to a particular industry (think dropping oil prices), a great idea that needs more time to blossom into a profitable company, or the classic case of being overleveraged (i.e. too much debt).  As an owner of a business, it is important to recognize distress as soon as possible to create optionality, minimize the downside risk, and sometimes even take advantage of distressed opportunities to increase return.  
1 day 7 hours ago