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(This is a joint post by Mark Weidemaier and Mitu Gulati)

We jointly teach a class on international debt, focusing on what happens when sovereign governments and the entities they control go bust. We love this class, because we work with our students to design a restructuring plan for a country in financial distress, and our students often come up with terrific ideas. This semester, we're focusing on Venezuela, which would involve an enormously complicated restructuring. One reason is that Venezuela has not exactly cozied up to the IMF, which typically plays a key role in a restructuring. To get a sense of the IMF's role and limitations, we asked our students to read Laid Low, Paul Blustein's new book about how the IMF played a part in managing (and mismanaging) the Greek debt crisis. Blustein is a terrific story-teller, with rare access to key players at the IMF and elsewhere. Although we followed the European debt crisis closely, much of what's in Laid Low was new to us.

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2 days 18 hours ago
The case for The Archdiocese of St. Paul and Minneapolis, No. 15-30125 (Bankr. D. Minn.) has been an extremely contentious one.   The Debtor and the Official Committee of Unsecured Creditors have different ideas on how to compensate sexual abuse claims and have submitted competing plans.    Not surprisingly, both parties objected to the other's disclosure statement.    The orders entered by Judge Robert Kressel show remarkable wisdom about how the disclosure statement process works in the real world.    
In ruling upon the Debtor's Disclosure Statement, Judge Kressel wrote:
I find that the debtor’s disclosure statement does contain adequate information and there would be virtually no benefit to providing additional information to creditors. Based on my observation of the dynamics in this case, it is extremely unlikely that the unsecured creditors, especially those that have claims for being sexually victimized by employees or associates of the debtor, will base their vote in any way on the information contained in the disclosure statement. Therefore, requiring additional information makes no sense.
3 days 1 hour ago

8328967338_37e260ff6b_h_optTax season approaches.

There’s a surprising degree of overlap between bankruptcy and tax I’ve found over three decades as a bankruptcy lawyer.

Here’s my two cents on what I know about taxes.  It’s not a lot, but what I know is both simple and critical.

File those tax returns

Lots of folks who end up in my office discussing bankruptcy held off filing their returns because they figured they couldn’t pay the tax that would be due.

Bad decision.

Without a return, taxes never die

The IRS will not descend on you the week after you file a return with tax due.  They’re still opening envelops.

3 days 5 hours ago

Windows smashed, no injuries reported.

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3 days 15 hours ago

Bank consortium R3 CEV, one of the most well-funded blockchain working groups, has endured criticism for its meticulous process. But if blockchains are most valuable with a network effect, maybe forgoing some agility is worth the long while.

Read More from: BankThink

3 days 15 hours ago

The Department of Housing and Urban Development announced Friday that the reduction in mortgage insurance premiums “has been suspended indefinitely.”

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3 days 15 hours ago

The Cincinnati bank will be advised by QED Investors on its fintech strategy.

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3 days 15 hours ago

The financial services industry has high hopes that President Trump will usher in a new era of less regulation and economic growth. Here are challenges his administration will face.

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3 days 15 hours ago

Documents filed in connection with a $586 million settlement reveal how certain agents for the global money transmitter enabled extensive fraud and money laundering.

Read More from: BankThink

3 days 15 hours ago

Donald Trump was sworn in Friday, but banking industry executives have spent the last two months envisioning a vastly different political, economic and regulatory climate. The dominant question in coming months will be how realistic those expectations are.

Read More from: BankThink

3 days 15 hours ago

The Stamford, Conn., credit card issuer reported net income of $576 million, up 5.3% from the same period a year earlier.

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3 days 15 hours ago

Native American tribal lenders that market small-dollar and installment loans can be investigated by the Consumer Financial Protection Bureau, a California appeals court ruled Friday in a victory for the consumer agency.

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3 days 15 hours ago

In this article, Needed to a person a minuscule story associated my close family friend. He once was standing prior to a GCR (Girls Standard Room). Before long a most arrived certainly, there and motivated to him that a lot of what your boyfriend was ordering there. This guy was that being said nervous during that time, very He wouldn’t be able to answered at that moment, suddenly he invested in an idea and john said, “Sir I in the morning sorry he that Objective, i’m not here in stare girls, I have always been looking my own self on currently the mirror, as i am coming at this moment form gym.” Principal said that, “I hope you are not telling rest.” My friend said that, “No sir, not within.” Now principal went on yet my brother also began.

You be sure that websites microfiche and predict the selection session that which seems best for your assignment. That website then tags the rates according into how good deal quickly extra flab that school assignment. Payment choice is also developed by you. Your current paper is delivered through any mail that brand write my paper has chosen for them.

Read More from: Kieselstein Law Firm

3 days 17 hours ago

Trump Taj Mahal

Did Donald Trump ever file for bankruptcy?  The answer is no, he has not ever filed a personal bankruptcy, but his business interests have sought Chapter 11 bankruptcy protection on six occasions.

Chapter 11 is a reorganization, normally of a large business.  Click here for a list of Chapter 11 bankruptcies of major companies.

July 16, 1991.  The Trump Taj Mahal. 

Read More from: Bankruptcy Law Network

3 days 20 hours ago

Locating A Great Deal Over A New Cell Phone

Easy Programs For mobile ad networks – Some Insights

There is lots much more to such handheld amazing things than simply creating calls, although a cell phone can be a very useful product. As soon as you how, that you can do a great deal along with your mobile phone. No matter what you need to do, the following guidance can be extremely valuable.

When you are considering a cellular phone, make sure to retail outlet different companies for the very best rates. Many suppliers offer you the exact same mobile phones for excellent offers should you be happy to indicator a contract. Because often preserving on the telephone isn’t worthwhile if the program could be more costly in the end, just be sure to also explore the affixed programs.

Sometimes, cell phones can withstand getting lowered into water. Set your mobile phone in rice in such a circumstance. This draws the moisture content from your mobile phone.

Read More from: Kieselstein Law Firm

4 days 3 hours ago

"There is an added sense of urgency now," says Barbara Roper, director of investor protection at the Consumer Federation of America.

Read More from: BankThink

4 days 3 hours ago

Treasury Secretary-designate Steven Mnuchin fended off questions about his past investments and foreclosure practices while discussing policy matters at his Senate confirmation hearing; FHA mortgage bond volume is starting to hit worrisome levels.

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4 days 3 hours ago

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

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4 days 3 hours ago

Quarterly profit improved despite a spike in noninterest expenses.

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4 days 3 hours ago

Quarterly profit fell at SunTrust Banks in Atlanta as noninterest expense rose 8.4% and its loan-loss provision increased.

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4 days 3 hours ago

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