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When companies engage with BlackRock's corporate governance team, they may be asked about the company's "strategic framework for long-term value creation," according to the letter sent to 500 CEOs from Larry Fink, co-founder and CEO of BlackRock. The framework should focus on the future and provide perspective on how a company is navigating competition and innovation, adapting to technology and geopolitical events, and where it is investing and developing talents.
3 days 16 hours ago
There are benefits for banks in fintech collaboration via application programming interfaces, but financial institutions should not let go of customer engagement.

Read More from: BankThink

3 days 17 hours ago
Gordon Ramsay attends the FOX 2013 Summer TCA press tour at the Beverly Hilton Hotel on Thursday, Aug. 1, 2013 in Beverly Hills, Calif.
Chris Pizzello/Invision/Associated Press
As part of its bankruptcy cost-cutting efforts, Caesars Entertainment Operating Co. is targeting Gordon Ramsay. The casino company negotiated new deals to allow the celebrity chef, who has cultivated a fiery public persona, to continue operating his Gordon Ramsay Pub & Grill restaurants at Caesars Palace in Las Vegas and Caesars Atlantic City. Caesars says the new agreements should save it some $144,000 a year—including reduced licensing fees owed to Mr. Ramsay—and preserve an “important and successful” part of its casinos. Caesars wants a Chicago bankruptcy judge to let it exit the existing deals and to approve the new deals, the terms of which it filed with the court. The agreements reveal some interesting tidbits about the partnership between a major casino operator and a celebrity chef.

Read More from: WSJ.com: Bankruptcy Beat

3 days 17 hours ago
Maryland attorney, Jeffrey Scholnick recently wrote an article in Spanish about a concert presented by Héctor Trícoche, an international Latin pop and salsa musician from Puerto Rico, which was published in the January 2016 (Enero, 2016) edition of Mundo Latino. The English translation of this article was also published alongside the Spanish version. In Mr. Scholnick’s article, “¡Héctor Trícoche es un Rey de la Salsa!” (translation: “Héctor Trícoche is a Salsa King!) he writes about his experience at the concert, as well as his personal interactions with Mr. Trícoche. Mr. Scholnick writes, “Although he sang only one hour, his music was perfect…I understand that salsa is not only music – it is a culture.” Read the article in its entirety here. Mr. Scholnick’s article is printed on page seven of the BMORE Latino section within the publication, but the online page-flip feature will list p.27/48. About Jeffrey Scholnick: Jeffrey Scholnick has been practicing law since 1983, and he has dedicated his legal career to being an exemplary attorney, known for his professionalism, competence and courtesy. He is one of the few Spanish-speaking attorneys in the Baltimore, Md. area and provides legal services for a wide range of practice areas.

Read More from: Scholnick Law

3 days 17 hours ago
The industry's rapid change is shining a spotlight on middle and senior managers who inherit positions and often have to fix the messes Â-- while maintaining the successes Â-- of their predecessors.

Read More from: BankThink

3 days 19 hours ago
Wall Street Journal Regulators are putting more pressure on compliance officers at large banks and, as a result, turnover in the job category has soared. Banks have been pressed to hire more compliance officers in recent years to deal with the crush of new regulation. But at the same time, many are getting out of the job. About three dozen senior bank compliance officers quit their jobs last year, according to the headhunter firm Sheffield Haworth....

Read More from: BankThink

3 days 20 hours ago
Natural-gas company Peregrine Midstream Partners LLC filed for chapter 11 protection a few months before a new facility was set to be completed. 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.”) Relativity Media LLC won court approval of its bankruptcy plan despite some concerns from a judge about funding sources, DBR reports via WSJ. A bankruptcy watchdog is seeking an independent trustee to control the case of drug maker KaloBios, where Martin Shkreli was chief executive until he got fired, DBR reports via WSJ. Hancock Fabrics Inc. filed for bankruptcy for its second time in less than a decade, DBR reports via WSJ.

Read More from: WSJ.com: Bankruptcy Beat

3 days 20 hours ago
In re Lake Dearborn, LLC, 534 B. R. 747 (Bankr. N.D. Ill. 2015) – A landlord debtor sought to reject unexpired food court leases, giving rise to tenant claims for rejection damages. The court was asked to determine the amount of … Continue reading →
3 days 22 hours ago
The trading environment for Britain’s pubs has never been tougher. According to the Campaign for Real Ale, 29 pubs close every week in the UK, with pubs selling approximately a third of the number of pints that they used to sell in the late 1970s. With the number of failing pubs on the increase, insolvency practitioners need to be aware of the potential issues with UK licensing laws that they face when accepting an appointment over a business that holds an alcohol licence. Breaches of UK licencing laws are punishable by an unlimited fine and/or up to 6 months’ imprisonment.   Nicola Smith, a Senior Associate in our specialist alcohol, entertainment and food licensing team, has authored a Guide on Liquor Licensing law for Insolvency Practitioners which has been published by Lexis PSL. A copy of the Guide is available here IPs’ Liquor Licence Guide

Read More from: eSQUIRE Global Crossings

4 days 10 min ago
Every campaign needs a logo. Make the logo of your financial planning a turtle, rampant. Rampant, you say?  Turtle? In the Middle Ages, knights put their ID’s on their shields in  elaborate heraldry that told bystanders who he was, what his birth order was, and which side of the blanket he was born on. Heraldry featured animals, real and mythic, on coats of arms.  While they were sometimes lying down (couchant), striding (passant), or sitting (sejant), most four legged animals were shown rearing (rampant). While not very heroic, consider the power of the rearing turtle, or slow and steady, in your modern day battle for financial security. Tortoise and the hare The fable about the tortoise and the hare ( why isn’t it the turtle and the rabbit?) stands for the success of slow and steady in the big picture. Though no one in the collection world talks about it in those terms, our California exemption law work the same way.
4 days 2 hours ago
“Anything that casts a cloud or diminishes the value of of an exemption is suspect and can be avoided.”  Those simple words are important to people facing bankruptcy. The fresh start in bankruptcy is real.  And sometimes it takes judges to clear the way for it. In this particular case, a creditor had a judgment against a husband.  He owned a home with his wife through a Missouri “tenancy by the entirety.”  In states where this is allowed, it means one spouse cannot expose the house to creditors without the other’s consent.  So no mortgages or other loans against it — and no judgment liens unless both spouses owe the debt. When the husband filed bankruptcy, he asked the court to issue an order avoiding the potential lien of a judgment creditor because it might impair his entirety exemption — his right to enjoy the property free of any claim of that creditor after bankruptcy.  The creditor argued slightly different positions in trial and on appeal but, basically, they said, “Hey, our judgment doesn’t affect your property right now so you can’t ‘avoid’ it.”

Read More from: Bankruptcy Law Network

4 days 9 hours ago
♫ “Girl, it’s easy to love me now. Would you love me if I was down and out? Would you still have love for me?” ♫ -50 Cent, 21 Questions
4 days 16 hours ago
The near future may find more banks ceasing to originate residential mortgages in an effort to stop the slide in stock prices.

Read More from: BankThink

4 days 17 hours ago
  It will soon be the time of year for tax refunds. We have questions from folks as to whether they can file Chapter 7 bankruptcy before filing taxes and still keep their tax refunds coming to them after they file bankruptcy or whether they can keep a tax refund received right before filing bankruptcy. The answer is that they generally can keep their refunds, depending, of course, on how large the refund is. The general bankruptcy exemptions available under the federal bankruptcy exemptions (which can be used in Kentucky) are usually large enough to protect most tax refunds from being lost to the trustee. You can also use your tax refund to pay the fees and costs for the bankruptcy. Also, if you are thinking about filing bankruptcy, and are going to use your tax refund to pay off a debt to a family member or creditor prior to filing bankruptcy, you should consult with a bankruptcy attorney before doing that. There are provisions in the bankruptcy law which may allow the trustee to take that money back from the family member or creditor should you then file bankruptcy after paying them. Alternatively, if you just keep the refund and don’t pay any of it to anyone, then the refund may be able to be protected with the exemptions as outlined above. Your circumstances may be unique, so always discuss your options with a bankruptcy attorney before you do anything with your tax refund money.
4 days 17 hours ago
I just read a terrific new paper by Gary Neustadter of Santa Clara University Law School, called "Randomly Distributed Trial Court Justice: A Case Study and Siren from the Consumer Bankruptcy World." It presents a monumental empirical study of a debt buyer's litigation campaign to pursue essentially identical contract and fraud claims against hundreds of secondary mortgagors in state courts, federal District Courts, and federal Bankruptcy Courts. The paths and outcomes of these materially identical cases are so different in so many surprising (and often disturbing) ways, the paper offers a really stunning look behind the curtain of our often arbitrary trial-level justice system. And Neustadter's telling of the story is gripping--I read the paper and most of its footnotes from beginning to end in one sitting, unable to put it down. The revelations in this paper are a gold mine for civil proceduralists generally and bankruptcy practitioners in particular. It offers a cautionary tale and useful playbook for lawyers (and perhaps judges) in how to make many aspects of our system more effective. Get it while it's hot!

Read More from: Credit Slips

4 days 17 hours ago
Until you consult with a debt professional, don’t make any deals with any financial institution. Whether you have credit card debts, medical debts or any other kind of debt, it is imperative that you speak with a knowledgeable debt management attorney who understands the potential tax issues involved in bankruptcy and/or debt relief. The money you think you’re saving by doing the negotiation on your own could come back to haunt you when the time arrives to file your taxes. “When you work out a deal with a creditor, they are not going to warn you about any negative implications of the deal. They just want their money.” Knowledgeable NJ debt relief lawyer Joel Spivack cautions against trying to work out a debt resolution on your own. Far too many people think it’s a smart move to negotiate with creditors in an effort to cut back the debt by making a deal that pays the company short of what is owed. However, Mr. Spivack said: “there is a federal tax implication on what you aren’t paying in a settlement.” Do not make the mistake of ignoring your potential tax liability on cancelled debt.
4 days 17 hours ago
Hancock Fabrics, Inc. (OTC: HKFI), a retailer of fabric, sewing and accessories, and six of its affiliates have filed chapter 11 petitions before the United States Bankruptcy Court for the District of Delaware (lead case no. 16-10296).  The petitions (including the consolidated list of top 30 creditors), the first day declaration and the docket for the cases are available through Kurtzman Carson Consultants.  The company has issued a press release regarding its restructuring. Contact Norman L. Pernick, Nicholas J. Brannick, or David W. Giattino for more information.
4 days 17 hours ago
Peregrine Midstream Partners LLC and three of its affiliates, which operate natural-gas storage facilities, have commenced cases (Lead Case No. 16-10292 (KJC)) under Chapter 11 of the Bankruptcy Code by filing petitions (including a consolidated list of top 30 creditors) with the U.S. Bankruptcy Court for the District of Delaware.  The Honorable Kevin J. Carey will preside over the cases.  Additional information and documents are available from Kurtzman Carson Consultants, LLC. Contact Norman L. Pernick, Nicholas J. Brannick, or David W. Giattino for more information.
4 days 18 hours ago
As we’ve discussed in earlier blog posts, when you are awarded SSA disability benefits you occasionally will receive a past-due monetary lump sum, i.e. the cumulative monthly money you should have been drawing all along if you were approved at the time you filed your disability claim.  This goes for adults as well as children. Child Expenditures are Regulated Once you receive the past-due monetary lump sum, however, what you can spend it on sharply diverges as children’s expenditures are tightly regulated by the SSA, and effectively audited annually.  Adult benefits are not. First off, the child’s funds have to be deposited in a “dedicated account,” one that is used only for the child’s disability benefits.  There are several other requirements that have to be met that the SSA details on its website. Child Disability Benefits Can Be Spent On

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

4 days 18 hours ago
The central bank should not delay putting in place a long-term plan that diminishes its outsized influence and allows the financial markets to work without interference.

Read More from: BankThink

4 days 19 hours ago

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