In earlier blog posts, I went over some pretty broad figures while examining the scope of the SSA’s monthly monetary benefits available to individuals who qualify for various programs. In this blog post, I’d like to go into a little more detail on what the average individual actually receives each month.
SSA Average Monthly Benefits
According to the SSA’s 2015 Fact Sheet, almost 60 million individuals received some $883 billion in monthly monetary benefits. Those who received SSA retirement got, on average, $1,342.00 per month, while qualified disabled workers drew $1,166 per month. The article includes a few additional breakdowns and statistics for those who are interested.
Although the Southern District of New York case we discuss in this blog entry is outside the restructuring context, we discuss it here because of the relevance of make-whole premiums in many restructuring deals and cases. Indeed, courts in restructuring cases first look to standard contract/indenture interpretation cases (usually under New York law) to determine whether the make-whole premium has been triggered in a particular situation.
Wells names senior team: Wells Fargo announced several management appointments Monday even as it continues to try to manage the fallout from its phony accounts scandal. Avid Modjtabai, who previously led consumer lending at the bank, has been named head of a new payments, digital and innovation group. Franklin Codel was named to replace her as head of consumer lending. The two managers were named by President and COO Timothy J. Sloan,...
I’m always hesitant to say something doesn’t exist . . . because I might have missed it.
–Nevertheless, I’m going to give it a shot, knowing I can, later, edit-out any error brought to my attention.
My focus, here, is on whether bankruptcy courts within the Eighth Circuit Court of Appeals system (the Circuit where I reside) have local rules on mediation.
Bankruptcy Courts WITHOUT Local Mediation Rules
The following seven bankruptcy court districts within the Eighth Circuit system HAVE NOT adopted a local rule on mediation and, collectively, create a large swath of “mediation desert” (as defined here) across the central part of the United States:
Fall is one of the best times to purchase real estate in Walworth County. Although spring is normally considered the best time to purchase real estate, the autumn season can be an even better time to purchase. Our Walworth County real estate attorney, Shannon Wynn, lists several reasons why in the list below.
7 Reasons Fall is a Great Time to Buy Real Estate in Walworth County
1. Your competition is reduced. Many home buyers are looking to get into that new home before the school year starts. In the fall, those buyers are out of the picture.
IMX Acquisition Corp., and three of its affiliates, have filed for chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware (Case No. 16-12238). The cases have been assigned to the Honorable Brendan Linehan Shannon. The Debtors seek joint administration of these cases. The Debtors’ petition can be found here. The First Day Declaration is not yet available and the proposed claims agent is Kurtzman Carson Consultants, LLC.
The NJ Legislature recently passed a bill that will ease the financial burden currently placed on grieving parents by student loan providers.
The sad reality is that parents who tragically lose a child often have a lot more to deal with than just making funeral arrangements and grieving over their loss. That’s because parents can be required to pay off their deceased child’s debts. This is a particular problem in New Jersey, where existing state law allows the NJ Higher Education Student Assistance Authority (HESAA) to continue pursuing payment for student loan debts from the parents of a borrower even after the borrower has died.
The Consumer Financial Protection BureauÂ's new regulation governing prepaid cards will disrupt consumer practices, drive up costs and wreak havoc on a fast-growing sector within the payments industry.
Receiving Wide Coverage ... Deutsche's battle plan: Embattled Deutsche Bank said it was cutting another 1,000 full-time positions in Germany, on top of the 3,000 cuts it announced back in June. Separately, the Financial Times reports Deutsche is working on a public spinoff of a minority stake in its asset management division in order to boost capital. Any IPO would come only after it reaches a settlement with the U.S. Department of Justice over allegations it soldÂ...
Yes, I am referring to that Sears – the giant retailer. According to an article this week in TheStreet, Sears reportedly has “significant default risk” within the next one to two years. This would likely lead to a bankruptcy filing under either Chapter 7 liquidation or Chapter 11 reorganization. A Chapter 7 filing would mean that Sears would liquidate its assets in order to pay creditors while a Chapter 11 filing would be aimed at staying in business and trying to come out of bankruptcy in a much better financial condition.
Banks must work to attract a diverse workforce through recruiting efforts, and to close the retention gap that sees institutions lose a higher percentage of women leaders compared to those who are men.