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My husband Andy had a passion to play baseball growing up.  His parents gave him every opportunity to gain valuable experiences to get better by way of camps and coaches every year.   This week, high school kids are signing scholarships with colleges across the country as result of the same kind of support from their schools, coaches and parents.  Andy often talks about the opportunities baseball gave him.  One of my favorite stories is about his opportunity to travel to Australia to play on a team before he graduated high school.  While he was gone, he received a scholarship offer to play baseball for the University of Alabama.  The irony of the story is that shortly before his scholarship offer, he had received a letter from the University that he wasn’t accepted academically.  From Andy’s experience, I would offer these tips for the student athlete:
  1. Don’t blow this opportunity. Most kids are not athletes and can only rely on academics to receive scholarships to go to college.  It’s easy to get wrapped up in the social side of college but remember that your job as a student athlete is to balance your time on the field with the work needed to succeed in the classroom.  Get your degree.

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

4 days 19 hours ago
Barclays' Barbara Byrne talks about the impact of conferences, events and endless reports on the state of women's advancement in the workplace. Wall Street women still make 40% less than their male counterparts, the government finds. Could the next U.N. leader be a Bulgarian woman? And a legendary woman in tech on how to achieve gender parity. Also, Cathy Bessant, Louise Roseman and Barbara Boxer.

Read More from: BankThink

4 days 20 hours ago
The amount of complaints in the Consumer Financial Protection BureauÂ's database dealing with payday loans is relatively small, so why is the proposal to regulate payday lenders so sweeping?

Read More from: BankThink

4 days 22 hours ago
Authored by Karl R. GrussWith the real estate markets in large cities such as San Francisco, Washington, D.C. and New York City saturated with domestic and foreign capital, driving market prices beyond the reach of many developers and lenders, investors naturally look for alternative markets that offer lower capital thresholds to entry but project strong future returns. The question then becomes: Where are these secondary markets, and what market characteristics predict future growth? The latest report from the Urban Land Institute (“ULI”) provides an in-depth look at those markets that planners, developers, brokers, financiers and others in the real estate industry believe are poised for the greatest growth, and cities across Florida have piqued the interest of industry insiders.

Read More from: Florida Banking Law Blog

4 days 23 hours ago
It is outside the realm of possibility for bitcoin's blockchain to serve any useful purpose for the intermediaries it was designed to replace.

Read More from: BankThink

5 days 1 hour ago
Upcoming Committee Formation Meeting: February 16, 2016, 1:00 p.m. Case Name: Horsehead Holding Corp., et al. Case Number: 16-10287 (CSS) Location: The DoubleTree Hotel, 700 King St.,Wilmington, DE 1980 Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. The petition (including the consolidated list of top 50 creditors) and the docket are available through Epiq.  The company has issued a press release regarding its bankruptcy filing. Contact Norman L. Pernick, Nicholas J. Brannick, or David W. Giattino for more information.  
5 days 1 hour ago
On February 4, 2016, nine affiliates of Seaboard Realty, LLC filed petitions seeking voluntary relief under chapter 11 of the Bankruptcy Code before the United States Bankruptcy Court for the District of Delaware.  Seaboard Realty, LLC and 14 of its affiliates previously filed chapter 11 petitions on December 13 and 15, 2015.  In conjunction with the follow-on filings, the debtors have filed a consolidated list of top 30 creditors, an additional first day declaration and various motions for relief, all of which are available through Donlin Recano.  A hearing regarding the debtors’ motions will be held before the Honorable Laurie Selber Silverstein on February 5, 2016 at 10:00 a.m.
5 days 1 hour ago
Upcoming Committee Formation Meeting: February 11, 2016, 11:00 a.m. Case Name: RCS Capital Corporation, et al. Case Number: 16-10223 (MFW) Location: The DoubleTree Hotel, 700 King St.,Wilmington, DE 19801 Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. The petitions (including the consolidated list of top 30 creditors) and the dockets for the cases are available through Prime Clerk. Contact Norman L. Pernick, Nicholas J. Brannick, or David W. Giattino for more information.
5 days 1 hour ago
Upcoming Committee Formation Meeting: February 10, 2016, 1:00 p.m. Case Name: Extreme Plastics Plus, Inc., et al. Case Number: 16-10221 (CSS) Location: The DoubleTree Hotel, 700 King St., Salon D, Wilmington, DE 19801 Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. Additional information and documents are available from the Court’s website. Contact Norman L. Pernick, Nicholas J. Brannick, or David W. Giattino for more information.
5 days 1 hour ago
Wall Street Journal The water-contamination disaster in Flint, Mich., may have a new consequence: mortgage lenders appear ready to put a clamp on most home purchase loans. Lenders have started to require that home buyers must provide proof that a property they want to buy does not have contamination. Nonbank lender Michigan Mutual and banks Wells Fargo and Bank of America have sent notices saying they won't make loans on a properties that don't have drinkable water....

Read More from: BankThink

5 days 1 hour ago
  Y, in my Bankruptcy Alphabet, stands for Yoke. Debt is a yoke around the neck of a person.  It keeps him harnessed to the weight of past financial decisions and, sometimes, to events over which he had no control. There are times in life when the right course is to put your shoulder to the wheel and strain through a tough financial task:
  • live frugally,
  • postpone expenditures,
  • be disciplined and
  • meet the problem on its own terms.
As a bankruptcy lawyer, I don’t see many of those situations. When someone lets down their defenses enough to schedule an appointment with me, the situation is usually beyond remedying with any amount of hard work. Persistence isn’t always heroic As a society, we love stories of the underdog prevailing, of hard work winning out against the odds.  We relish the heart warming stories when dogged effort works.
No one writes the stories of the horde of people for whom that wasn’t  a solution.
For lots of people, all that dogged devotion to making minimum payments yields in the end is a further set of bad decisions:  going without insurance, emergency funds, or retirement savings. This is true grit It takes courage and humility to say you’ve found yourself in a situation for which grit simply won’t win out.
5 days 1 hour ago
Senator Lyndia Brasch has sponsored a bill in the Nebraska legislature to increase the amount of personal property protected in Nebraska bankruptcy cases. According to Brasch it is necessary to update Nebraska property exemptions to keep pace with the higher cost of living.
The statute governing exemptions has not been updated in 17 years. Mandating a larger amount for exemptions allows individuals filing bankruptcy to get back on their feet.
Legislative Bill 757 would make the following changes to Nebraska personal property exemptions:
  • Wild Card Exemption: Increase the “Wild Card” exemption of 25.1552 from $2,500 per debtor to $5,000.  The wildcard exemption protects any type of personal property including bank account deposits, tax refunds, motor vehicles, etc.
  • Household Goods: Protection for household goods and furnishings increases from $1,500 per debtor to $3,000.
  • Tools of the Trade: Implements, tools or professional books or supplies protection increases from $2,400 to $5,000.
5 days 1 hour ago
KaloBios Pharmaceuticals Inc., the company that fired ex-Chief Executive Martin Shkreli after he was arrested for securities fraud, is still in talks to buy a drug that treats Chagas disease. 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, scroll to the bottom and click “try for free.”) Caesars Entertainment Operating Co., the bankrupt unit of casino and hotel company Caesars Entertainment Corp., is looking for a mediator to handle its restructuring, DBR reports via WSJ. Concert promoter SFX Entertainment Inc. won approval to start sending its $115 million bankruptcy loan, DBR reports via WSJ.

Read More from: Bankruptcy Beat

5 days 1 hour ago
2015 saw the global oil and gas market in turmoil and 2016 looks set to continue the trend. 16 January 2016 saw the lifting of sanctions against Iran, and critically signified its re-entry as a major OPEC player to the already saturated global oil and gas market. With the world’s fourth-biggest oil reserves, an immediate increase equivalent to an extra 500,000 barrels a day is predicted, increasing over the year to meet pre-sanction levels by the end of 2016. This would represent approximately 10% of total OPEC production and is only forecast to increase.

Read More from: eSQUIRE Global Crossings

5 days 2 hours ago
On February 2, 2016, Hancock Fabrics, Inc. and 6 affiliates filed for relief under chapter 11 of the Bankruptcy Code.  The cases are jointly administered under Case Number 16-10296 and presided over by Judge Shannon.  The first day hearing was held on February 3, 2016.  The second day hearing is scheduled for February 22, 2016 at 1:00 p.m. The majority of the information available about the Debtors comes from the Declaration of Dennis Lyons in Support of Chapter 11 Petitions and Request for First Day Relief (D.I. 4) (the “Declaration”).  On March 21, 2007, Hancock and its affiliates filed for bankruptcy for the first time.  Since that time, the Debtors have experienced a challenging business environment and have been burdened by significant legacy debt.  Declaration at *5.  The Debtors state that their intent in filing for bankruptcy is to “(i) gain access to liquidity, (ii) reduce pension and operational costs, (iii) realign its store locations and format and (iv) execute on one or more options to create value for stakeholders.”  Declaration at *6.  Pursuant with these goals, the Debtors have planned to undergo a very accelerated sales process, with a goal of having a final sale hearing on March 14, 2016.  Declaration at *7.
5 days 15 hours ago
Georgia may soon have a new law governing wage garnishments and bank account levies.  But the news is not all good.You may recall that back in September, 2015, I reported that federal judge Marvin Shoob had issued a ruling that invalidated on Constitutional grounds bank account levies in Gwinnett County, Georgia. A man named Tony Strickland sued the Gwinnett County clerk of court after his bank account containing workers compensation and Social Security funds was seized by a credit card company that had sued him. Mr. Strickland argued, and Judge Shoob agreed, that the credit card company had an affirmative obligation to notify debtors like Mr.

Read More from: The BK blog

5 days 17 hours ago
It’s almost that time of year again.  We’re not talking about whether you should forget about the Tar Heels going the distance because they’re suddenly sliding in the power rankings.  No, for bankruptcy geeks, the real event is the Weil Bankruptcy Blog March Madness competition.  Last year, we focused on the ABI Commission’s report and recommendations on chapter 11 reform, and “Kill Till” came out on top.  This year, we are trying out a new theme.  What do you think was the hottest restructuring topic in 2015?  We are open to all ideas – it could be the use of a new legal technique (we’re thinking about the rise of structured dismissals, for example), or it could be an issue affecting the economy (e.g., the decline in the price of oil).  We’re still thinking about whether we can tie Donald Trump to any hot restructuring topic (of course, the Donald is no stranger to chapter 11).  Let us know, and your topic might make it past the Weil Selection Panel and into the Sweet Sixteen. Provide us with your hottest restructuring topic here.
5 days 17 hours ago
For those who are exploring the need to file for bankruptcy protection, some may not realize there are non-lawyers available who can prepare the bankruptcy petition, schedules, and statements for filing.  What is the advantage of using a bankruptcy petition preparer versus a bankruptcy attorney?  In one word, money.  Bankruptcy petition preparers charge far less than bankruptcy attorneys for their services, as mandated by the Bankruptcy Code.  While this may seem intriguing to a person considering filing for bankruptcy relief because they do not have enough income to pay their bills, it is critical to understand why the fees for a petition preparer are less.  The ONLY thing a bankruptcy petition preparer can do is type up the bankruptcy petition, schedules and statements from information provided to them by the client. What Bankruptcy Petition Preparers Can’t Do
  • File the actual bankruptcy petition itself
  • Advise the client whether or not bankruptcy relief is well suited for the client’s needs and what chapter of the bankruptcy code to file under;
  • Advise the client what exemptions to claim to protect their property in the bankruptcy process;
  • Go into court to represent the client before the Bankruptcy Court;
  • Insure all necessary steps and forms required to exit the bankruptcy with a discharge are filed with the Court.

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

5 days 18 hours ago
Here are the most common mistakes that would-be financial services disruptors make on their way to trying to execute a great idea and business plan.

Read More from: BankThink

5 days 19 hours ago
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.
5 days 22 hours ago