ABI Blog Exchange

Authored by Samantha Alves Orender of Rogers TowersOn January 1, 2015, United States District Judge Hinkle issued an Order  ruling that all Florida counties are to start issuing marriage licenses to same-sex couples as of January 6, 2015. The implications of this ruling are significant for same-sex couples, and their creditors as well. There are various legal aspects to consider as Florida law adjusts to incorporate same-sex married couples into the fold, but one question is whether the protections of The Equal Credit Opportunity Act  (the “ECOA”) will apply to individuals married under Florida law.

Read More from: Florida Banking Law Blog

1 hour 1 min ago
The United States Bankruptcy Court District of Montana Case Management – Electronic Case Filing System (CMECF) will be down for equipment relocation from Thursday, January 29, 2015 at 05:00 PM until Monday, February 2, 2015 at 08:00 AM.             
1 hour 13 min ago
A bronze statue of Caesar is seen at Caesars Palace Hotel and Casino in Las Vegas.
Zuma Press
Creditors of Caesars Entertainment Corp.’s largest unit lined up Monday to challenge the gambling company’s bid to work through its $18.4 billion debt load in a bankruptcy court in Chicago. 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 our homepage, scroll to the bottom and click “try for free.”) A former Lehman Brothers trader is still fighting for bonus money he says is owed him from 2008, DBR reports in WSJ.

Read More from: WSJ.com: Bankruptcy Beat

1 hour 35 min ago
A bronze statue of Caesar is seen at Caesars Palace Hotel and Casino in Las Vegas.
Zuma Press
Creditors of Caesars Entertainment Corp.’s largest unit lined up Monday to challenge the gambling company’s bid to work through its $18.4 billion debt load in a bankruptcy court in Chicago. 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 our homepage, scroll to the bottom and click “try for free.”) A former Lehman Brothers trader is still fighting for bonus money he says is owed him from 2008, DBR reports in WSJ.

Read More from: WSJ.com: Bankruptcy Beat

1 hour 35 min ago
The traditional method of measuring mortgage denials is fundamentally flawed. Evaluating not just the quantity but also the quality of mortgage applicants can give a clearer picture of actual denial rates.

Read More from: BankThink

1 hour 47 min ago
Receiving Wide Coverage ... Pushback Against ECB Rules: Last week's World Economic Forum in Davos, Switzerland, gave European bankers unhappy with stricter capital rules a chance to air their grievances. The Financial Times reports bankers in Davos argued that tough capital requirements will render the European Central Bank's quantitative easing less effective. They say the initiatives work at cross-purposes: QE is meant to encourage investors to take on riskier assets that invigorate the economy, while the...

Read More from: BankThink

2 hours 45 min ago
Can a company really melt? Putting aside a business with a perishable product or inventory, does management really wake up one morning and say, “Wow, if we do not sell this company in 30 days or less, we will lose significant value for our stakeholders.” I highly doubt it. Rather, I think a company “melts” because management leaves the freezer door open too long, or perhaps a particular stakeholder has its foot in the door. (For a thoughtful article on the melting ice cube issue, see here.) 

Read More from: Credit Slips

4 hours 4 min ago
In re Sterling Bluff Investors, LLC, 515 B.R. 902 (Bankr. S.D. Ga. 2014) – A mortgagee moved to dismiss a real estate debtor’s chapter 11 case, or in the alternative for relief from the automatic stay.  It contended that the debtor filed … Continue reading →
4 hours 46 min ago
Sometimes you’ve got a question you need answered before you make the decision to hire a lawyer. Questions such as:
  • Can I transfer property out of my name to protect it from a bankruptcy filing?
  • Can I get a mortgage after filing bankruptcy?
  • Can a school withhold my transcripts for not paying a student loan?
  • Is it a good idea to have my parents co-sign for my student loans?
  • How do I stop a debt collector from calling me?
  • How long does negative information remain on my credit report?
It used to be that you had two choices when you needed those questions answered – you could sit on the Internet all day trying to figure out which website had the right answer, or you could drag yourself into a lawyer’s office and waste a few hours of your time. I’m happy to tell you that you now have a third choice – Money Go Roundtable. Money Go Roundtable is a podcast that I cohost with my friend and colleague Gene Melchionne. Each work day we choose a question like the ones above (in fact, we answer those exact questions on the show) in ten minutes. It’s free to subscribe, free to listen, and free to ask your general question. Just click the button to subscribe in iTunes.
6 hours 46 min ago
The following is from the Consumer Financial Protection Bureau: Banks to Pay $35.7 Million After Loan Officers Illegally Traded Referrals for Cash and Marketing Services The Consumer Financial Protection Bureau (CFPB) and the Maryland Attorney General took action against Wells Fargo and JPMorgan Chase for an illegal marketing-services-kickback scheme they participated in with Genuine Title, a now-defunct title company. The Bureau and Maryland also took action against former Wells Fargo employee Todd Cohen and his wife, Elaine Oliphant Cohen, for their involvement.  Genuine Title gave the banks’ loan officers cash, marketing materials, and consumer information in exchange for business referrals. The proposed consent orders, filed in federal court, would require $24 million in civil penalties from Wells Fargo, $600,000 in civil penalties from JPMorgan Chase, and $11.1 million in redress to consumers whose loans were involved in this scheme. Cohen and Oliphant Cohen also will pay a $30,000 penalty.
17 hours 12 min ago
The Advisory Committee on Bankruptcy Rules has devised and proposed a national chapter 13 plan form. The newest version of the form has been published for comment. The comment period expires February 17, 2015. A copy of the form can be found here. proposed chapter 13 plan Comments about the proposed may be submitted online at this address.
17 hours 34 min ago
B-I-C Evan Flaschen and Ilia O’Hearn recently co-authored the United States Q&A for Practical Law‘s Restructuring and Insolvency Multi-jurisdictional Guide. For the full Q&A click here. By: Bracewell & Giuliani LLP

Read More from: Basis Points

20 hours 55 min ago
NORTH OF THE BORDER UPDATE This article has been contributed to the blog by Mary Paterson, Dave Rosenblat and Waleed Malik. Mary Paterson is a partner in the litigation group of Osler, Hoskin & Harcourt LLP, Dave Rosenblat is an associate in the insolvency & restructuring group and Waleed Malik is an articling student.
21 hours 38 min ago
I'm totally with this guyHershey's move to keep British Cadbury's products out of the US is un-American. Anyone who has tasted the British version of Cadbury's knows that it's a far superior product. But what's the bankruptcy angle? After all, this is still a bankruptcy blog ... broadly defined. Well look at the Times article about this scandal:  it seems that the agreement between Hershey's and Cadbury, and Hershey's rather aggressive enforcement of the same, is apt to drive a few small businesses into bankruptcy. That really seems un-American. (Ok cynics, have at it.)

Read More from: Credit Slips

21 hours 40 min ago
The Fed appears to have looked at Bitcoin as a means for real-time payments in the banking system but shelved the concept for now.

Read More from: BankThink

22 hours 17 min ago
The Editorial Staff  at CommercialBankruptcyLitigation.com discuss a recent Second Circuit opinion concerning J.P. Morgan Chase’s loss of a $1.5 billion position in General Motors. Read more about this opinion here!
22 hours 41 min ago
There were nearly a million bankruptcy cases filed by individuals and businesses in 2014.  It is safe to say that only the tiniest fraction of such debtors have any familiarity with the Supreme Court’s decision in Stern v. Marshall nearly four years ago.  (If they do, it almost assuredly is only because the case arose out of the endless litigation between Anna Nicole Smith and the son of her late husband.)  Even fewer would be aware of the constitutional issues raised in that case concerning the jurisdiction and authority of the U.S. bankruptcy courts.  Lower courts have been struggling with those issues ever since.  Now, based on some of the questions raised in last week’s oral argument in Wellness International Network v. Sharif, it appears that at least some of the justices are realizing the full implications of Stern.  The Court’s decision in Wellness International could have significant effects for nearly everyone seeking protection under the U.S. Bankruptcy Code. 

Read More from: Bankruptcy Law Insights

22 hours 44 min ago
In a Recomended Reading post  at CommercialBankruptcyInvestor.com, Gordon Brothers’ recent Oil & Gas Industry Watch Critical Update is highlighted. Read more about this interesting update here!
22 hours 46 min ago
In a Breaking News Alert  at CommercialBankruptcyInvestor.com, Chapter11Dockets.com notes that an Ad Hoc Group of First Lien Creditors filed an adversary proceeding in the Delaware involuntary filing. Learn more about the lawsuit here!  
22 hours 49 min ago
In a Breaking News Alert  at CommercialBankruptcyInvestor.com, Chapter11Dockets.com notes SkyMall files bankruptcy. Read more about the filing here
22 hours 52 min ago

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