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bitcoinsIn the latest opinion to wrestle with the question of whether virtual currency should be considered money, Judge Aliso

Read More from: eSQUIRE Global Crossings

7 hours 1 min ago

linda-hughesAs corny as it may sound, I like to think of the folks I work with as family. Many of the attorneys and staff members at Bond & Botes have been with us for a long time. We have shared good times and bad. There have been weddings, children born, graduations, birthdays and so much more. Not everybody can say that they enjoy what they do for a living and the people that they do it with. I know that I am fortunate to be able to say both and thank God daily for his blessings.

Read More from: Bonds & Botes, P.C.

7 hours 18 min ago

Up until now, no fintech company has succeeded on a mass scale to offer solutions beyond its core product. But disruptors are trying to go in that direction, and banks should watch their efforts closely.

Read More from: BankThink

7 hours 55 min ago

Receiving Wide Coverage ...

Backwater no longer: Payment systems have long been a backwater of finance, but all that is changing, the Financial Times says in a special report on "The Payments Revolution." While the expansion of online shopping and mobile payment devices has spurred massive growth, "the industry is entering a period of extreme disruption. The dominant players — the banks and credit card companies — face an uncertain future. A fast-growing group of upstart...

Read More from: BankThink

8 hours 46 min ago

This year, KeyCorp executed the second-largest bank acquisition by deal value since the financial crisis and announced a groundbreaking commitment to do $16.5 billion of lending to low- and moderate-income communities across several states. Chairman and CEO Beth Mooney also purposely raised the visibility of other executives at her company, to bring more diversity of thought into the companyÂ's decision-making process. But Mooney doesn't see an end to her days of trailblazing yet.

Read More from: BankThink

18 hours 25 min ago

The staff at the Securities and Exchange Commission is working on a proposal to amend the current diversity disclosure rule to require more specificity, including information on the race, gender and ethnicity of board members and nominees. Here's why.

Read More from: BankThink

18 hours 25 min ago

Elkhorn bankruptcy attorney Shannon Wynn knows that fall and winter are the hardest times of year to save money. Your gas bill goes up. Your electric bill skyrockets. Your vehicle is using more gas. You’re spending money on holiday dinners and holiday gifts. Property taxes are due just one short month after Christmas. How can anyone be expected to actually save money during this time? It seems impossible. Our Elkhorn bankruptcy attorney, Shannon Wynn, has put together a list of strategies to help you save money during fall and winter.

 

Read More from: Wynn at Law, LLC

1 day 14 hours ago

John Dizard has a useful, and clearly written, piece on the lay of the land in this morning's FT. What puzzles me is why PDVSA, the national oil company,  has not done a UK scheme of arrangement or a US prepack to exchange the bonds, instead of messing around with an exchange offer. But the entire situation is rather opaque.

Read More from: Credit Slips

2 days 6 hours ago

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Chicago (photo by Grant Swanson)

   By: Donald L. Swanson  

                   “I found the [Mediator’s resignation] letter to be a little bit bewildering.”                                                   
–A. Benjamin Goldbar, Chicago Bankruptcy Judge, September 21, 2016.

Judge Goldbar is, obviously, an excellent jurist with excellent judgment.
But everyone makes mistakes. And Judge Goldbar’s flap with the Caesars mediator over mediation confidentiality is one of those mistakes.

Mediation Confidentiality

Mediation confidentiality is a nearly-sacred precept today. There is a uniformity of belief, worldwide, that mediation effectiveness is dependent upon a cloak of confidentiality and that privacy of mediation information is a supreme value.

Judge Goldbar’s mistake is his failure to recognize this confidentiality precept, both in his initial ruling and in his follow-up “bewildering” explanation.

Read More from: Mediatbankry

3 days 3 hours ago

Financial services IT teams must think like cybercriminals and develop an offensive approach to security at a time when threats are growing in frequency and sophistication.

Read More from: BankThink

3 days 5 hours ago

A compliance-at-all-cost mentality, which is the overarching attitude in many banks, results in overspending and overallocating valuable resources to meet both real and perceived compliance standards.

Read More from: BankThink

3 days 7 hours ago

Verengo, Inc., a well-known installer of residential solar power systems, filed for Ch. 11 in the United States Bankruptcy Court for the District of Delaware (Case No. 16-12098).  Verengo attributes its filing to quality issues with its former operations in the eastern United States.  Despite selling its northeast operations to NRG Energy, Inc. and restructuring its remaining lines of business, Verengo is unable to service its current debts.  Verengo indicates that it will pursue a sale under 11 U.S.C. 363(c).  Crius Solar Fulfillment, the proposed DIP Lender, is also the proposed stalking horse.  The petition (including the consolidated list of top 20 creditors), the first day declaration and the docket are available through Upshot Services LLC.

3 days 8 hours ago

Receiving Wide Coverage ...

Another day, another woe: The pressure on Wells Fargo continues to increase. Eight Democrat senators Thursday asked the Labor Department to open an investigation into the bank's workplace practices. Specifically, the senators, led by Elizabeth Warren, D-Mass., asked the department's Wage and Hour Division to examine whether Wells "aggressively skirted" overtime laws and failed to properly compensate its lower-level employees. Labor said it was taking "very seriously" complaints about how the bank...

Read More from: BankThink

3 days 8 hours ago

alliedgold

Back in July, we touched on the doctrine of equitable mootness in the context of a bankruptcy settlement agreement. Last week, the Delaware District Court employed equitable mootness in its opinion dismissing a plan confirmation appeal in the Allied Nevada Gold Corp. bankruptcy. Unless an appellant can raise a valid confirmation appeal before substantial consummation of the Chapter 11 plan, equitable mootness favors dismissal.

Background

Read More from: Plan Proponent

3 days 9 hours ago

We haven't heard from Carrie Tolstedt yet, but she has been in the spotlight all week, as seemingly everyone wants an explanation from Wells Fargo. JPMorgan Chase puts even more focus on digital channels, and Politico has a piece on the opportunities fintech offers women, especially female bankers, with a caveat. Also, the B of A bros' club suit has been settled.

Read More from: BankThink

4 days 44 min ago

HANDS UPNo, you have not accidentally stumbled upon the Georgia Criminal Law Blog, and I am not going to change my practice area just yet (though on the slow days I often think about it).  I happen to come across this case today and thought it may be of interest, especially with the news we see every day now.  With the BAPCPA now approaching 11 years in age and Bankruptcy slow, I may make a habit of occasionally straying from the topic.

Read More from: Georgia Bankruptcy Blog

4 days 1 hour ago

The Wells Fargo scandal is more reason for officials to tighten policy on anti-tying measures to put a stop to overly aggressive sales methods.

Read More from: BankThink

4 days 5 hours ago

Gail DonaldsonThe goal every debtor has after filing bankruptcy is simple—a fresh startChapter 7 Bankruptcy offers a fresh start much quicker than Chapter 13 simply because the unsecured creditor’s debts are erased and allows you to pay for the debts you want to keep direct such as a mortgage or car payment.  In Chapter 13, a plan typically is five years where you repay all or part of the debt you owe.  The mortgage is usually paid direct to the mortgage company with any arrears included in the Chapter 13 plan.

Read More from: Bonds & Botes, P.C.

4 days 6 hours ago

"But Chapter 9 has awakened, and we do not presume further disputes over its interpretive and practical complexities will remain long at rest."

So says a panel of the U.S. Court of Appeals for the Ninth Circuit in Deocampo v. Potts (14-16192), filed since the last Credit Slips posting about civil rights debts in municipal bankruptcy. My working paper is newly revised to discuss the Ninth Circuit's ruling. Just a few points here.

The Ninth Circuit reached the right result in holding that the Vallejo bankruptcy did not relieve the police officer defendants of their individual liability for 1983 violations (excessive force). The court also held that Vallejo's state law obligation to indemnify the police officer defendants was not discharged by the city's bankruptcy, arising as it did after the city received its discharge.

Read More from: Credit Slips

4 days 7 hours ago

Upcoming Committee Formation Meeting: Thursday, September 29, 2016, 10:00 a.m.

Case Name: Delivery Agent, Inc.
Case Number: 16-12051 (LSS)

Location: The DoubleTree Hotel, 700 King Street, Salon C, Wilmington, DE 19801

The petition (including the consolidated list of the top 30 creditors), the first day declaration and the docket are available through Epiq.

Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here.

Contact Norman L. Pernick and  Nicholas J. Brannick for more information.

4 days 7 hours ago

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