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Munro Media Ltd., along with three subsidiaries, has filed a petition for recognition of a foreign proceeding under Chapter 15 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-11365-KBO). According to the accompanying Declaration and exhibits thereto, the Debtors are advertising technology companies that offer online marketing expertise to their customers. Ernst & Young Inc. has been appointed as the Receiver of all of the Debtors’ assets by the Superior Court of Justice (Commercial List) in Ontario, Canada (Court File No.: CV-19-00617777-00CL). As Receiver, Ernst & Young is pursuing an orderly liquidation of the Debtors’ assets following declining revenues which the Debtors attribute to increasing scrutiny of the online advertising industry. The cases have been assigned to the Honorable Karen B. Owens, who was sworn in as Delaware’s newest bankruptcy judge on June 17, 2019.

For more information regarding this matter, please contact Norman L. Pernick or G. David Dean.

1 day 7 hours ago

Munro Media Ltd., along with three subsidiaries, has filed a petition for recognition of a foreign proceeding under Chapter 15 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-11365-KBO). According to the accompanying Declaration and exhibits thereto, the Debtors are advertising technology companies that offer online marketing expertise to their customers. Ernst & Young Inc. has been appointed as the Receiver of all of the Debtors’ assets by the Superior Court of Justice (Commercial List) in Ontario, Canada (Court File No.: CV-19-00617777-00CL). As Receiver, Ernst & Young is pursuing an orderly liquidation of the Debtors’ assets following declining revenues which the Debtors attribute to increasing scrutiny of the online advertising industry. The cases have been assigned to the Honorable Karen B. Owens, who was sworn in as Delaware’s newest bankruptcy judge on June 17, 2019.

For more information regarding this matter, please contact Norman L. Pernick or G. David Dean.

1 day 7 hours ago

Last year, CEO Darryl White said his goal was for U.S. operations to account for one-third of the bank's earnings in three to five years. It was a matter of months before the goal was reached.

Read More from: BankThink

1 day 7 hours ago

Shareholders of both companies will meet separately next month to cast ballots on the $28 billion deal, and BB&T investors will also decide whether the new company should be called Truist Financial.

Read More from: BankThink

1 day 8 hours ago

Many might think that the technological disruption of the industry is already underway, but it’s likely that the most significant restructuring is still yet to come.

Read More from: BankThink

1 day 8 hours ago

Digital currency plans spark concerns from global financial regulators and U.S. legislators; departures continue as two top dealmakers seem ready to leave.

Read More from: BankThink

1 day 8 hours ago

In re Fairfield TIC, LLC, 594 B.R. 852 (Bankr. E.D. Va. 2018) – The debtor and its co-owners bought a shopping center as tenants-in-common. After the debtor filed bankruptcy, the noteholder secured by a mortgage on the property and a receiver … Continue reading

1 day 10 hours ago

The little-known unit was launched in the wake of efforts by the CFPB and HUD to cut back on fair-lending activities, but the reach of the 10-month-old office is still unclear.

Read More from: BankThink

1 day 20 hours ago

House Financial Services Committee Chairwoman Maxine Waters and Rep. Patrick McHenry, the top GOP panel member, said Facebook must testify about Project Libra.

Read More from: BankThink

1 day 22 hours ago

Many people still distrust banks, but many also look askance at the social media giant, making it an unlikely savior of the unbanked.

Read More from: BankThink

1 day 22 hours ago

A Wisconsin credit union's agreement to acquire a small Chicago bank, the eighth credit union-bank deal this year, led bankers to once again call for policymakers to slow the trend. A credit union trade group complained that banks are trying to stifle competition.

Read More from: BankThink

1 day 23 hours ago

The Federal Arbitration Act, 9 U.S.C. §§ 1-307, represents a federal policy in favor of enforcing arbitration clauses. The Supreme Court has held that courts are generally obligated to enforce arbitration clauses absent a countervailing federal statute. Shearson/Am. Express, Inc. v. McMahon, 482 U.S. 220, 226 (1987).  However, this policy inevitably comes into conflict with the Bankruptcy Code, which is grounded on a policy of centralized dispute resolution. Congress has not offered any legislative guidance on how to reconcile these competing policies. As a result, the courts have been left to determine when arbitration clauses are enforceable in bankruptcy.  An April 16, 2019 ruling in the U.S. Bankruptcy Court for the Northern District of Texas in the case of In re: Acis Capital Management, L.P. addressed this issue, which regularly figures prominently in complex Chapter 11 bankruptcy cases.  In denying the defendant’s motion to compel arbitration, the court held that it would exercise its discretion to decline to order arbitration, on the ground that the enforcement of the arbitration clause would conflict with the purposes of the Bankruptcy Code.

Read More from: Insolvency Insights

1 day 23 hours ago

The bipartisan proposal aims to renew banks' interest in low-income housing tax credits and bring more lower-priced homes to markets that badly need them.

Read More from: BankThink

2 days 1 hour ago

There’s a long list of reasons traditional lenders haven't kept up with the needs of entrepreneurs, says Judith Erwin, the head of Grasshopper Bank in New York. One is not asking for enough feedback.

Read More from: BankThink

2 days 1 hour ago

Deutsche Bank Chief Executive Christian Sewing is planning sweeping changes to his top management, considering replacing finance chief James von Moltke and investment banking head Garth Ritchie, as he purges executives who rose under his predecessor.

Read More from: BankThink

2 days 2 hours ago

The Citigroup mortgage unit is not the first lender to be tripped up by California law requiring the interest payments on escrow impound accounts.

Read More from: BankThink

2 days 2 hours ago

The White House general counsel’s office weighed the legal implications of stripping Powell of his chairmanship and leaving him as a Fed governor, the people said, in what would be an unprecedented move.

Read More from: BankThink

2 days 4 hours ago

On June 5, 2019, the Securities and Exchange Commission (SEC) declined to issue a no-action letter to CorVel Corporation with respect to CorVel’s intention to exclude from its proxy materials a shareholder proposal regarding the company’s omission of the words “sexual orientation” and “gender identity” from its written non-discrimination policy.  The proposal had been submitted … Continue reading

The post ESG Investor Walden Scores Win on CorVel Shareholder Proposal Re LGBTQ Rights appeared first on Robins Kaplan Trial Attorneys Blog.

2 days 5 hours ago

Rebekah McKinney is a talented and tenacious lawyer and is always listed in the various published lists of the top lawyers in the State of Alabama.  She is a graduate of Vanderbilt University and the University of Alabama School of Law.  Her law firm is 

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

2 days 6 hours ago

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