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Warren Buffett's Berkshire Hathaway is seeking permission from the Federal Reserve to potentially increase its stake in Bank of America to more than 10%, a level that often triggers a regulatory review.

Read More from: BankThink

2 days 6 hours ago

A list of upcoming cases published by the high court did not include a challenge to the bureau's constitutionality, but the justices could still decide to review it at a later date.

Read More from: BankThink

2 days 9 hours ago

On October 14, 2019, Yueting Jia, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-12220).  The Debtor reports assets in the range of $500,000,001- $1 Billion, liabilities in the range of $1,000,000,001- $10 Billion, and estimated creditors in the range of 100- 199.

Cole Schotz does not represent the Debtors in this case. We are posting this for informational purposes only. If you have received a notice and have any questions, you should contact Debtors’ counsel.

2 days 9 hours ago

On October 14, 2019, Yueting Jia, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-12220).  The Debtor reports assets in the range of $500,000,001- $1 Billion, liabilities in the range of $1,000,000,001- $10 Billion, and estimated creditors in the range of 100- 199.

Cole Schotz does not represent the Debtors in this case. We are posting this for informational purposes only. If you have received a notice and have any questions, you should contact Debtors’ counsel.

2 days 9 hours ago

   As all debtor attorneys know, it is critical to schedule all creditors when a case is filed.  The consequences of an error, omitting such a creditor is illustrated in Brenner's Restoration, Inc. v. Somerville, 2019 Bankr. LEXIS 3172, case #18-20807-MMH (Bankr. D. Md. 4 October 2019).  Here Somerville filed for relief under chapter 13 on 14 August 2018.  Somerville filed a timely list of creditors and matrix, but had omitted Brenner's Restoration from that list.  Brenner's had performed work on a house owned by the Debtor and a non-debtor prepetition, and served process on the Somerville 18 October 2019.  Despite receipt of service of process, Sommerville failed to amend the schedules (or, apparently file a suggestion of bankruptcy in the state court litigation) until after the 23 October 2018 claims bar date.  No notice of the bankruptcy was provided until garnishment of Debtor's paycheck.

  Upon receipt of notice of the bankruptcy, Brenner filed requesting authority to file a late proof of claim, or alternatively sought relief from the stay to pursue the debtor and non-debtor co-owner of the property in state court.  Somerville's counsel objected solely to lifting the stay, but the court set both matters for hearing, and ultimately denied both requests, but also ruling that the debt was nondischargeable.

Read More from: Tampa Bankruptcy

2 days 10 hours ago

A law signed last week by Democratic Gov. Gavin Newsom caps interest rates on installment loans. But three large lenders are looking to avoid its restrictions by partnering with banks.

Read More from: BankThink

2 days 10 hours ago

On Jun. 30, 2019. Dollars in thousands.

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2 days 11 hours ago

On Jun. 30, 2019. Dollars in thousands.

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2 days 11 hours ago

Investors got a reminder that the bank isn’t past its problems even as it seeks a fresh start under a new leader.

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2 days 11 hours ago

The bank is providing a point-of-sale loan to women seeking IVF treatments and getting funds to clinics, in some cases, within 24 hours.

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2 days 12 hours ago

Companies are turning off prospective customers and employees with misguided approaches.

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2 days 12 hours ago

Better-than expected trading results also helped to boost net income.

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2 days 12 hours ago

A healthy increase in consumer banking revenue also helped drive an 8% jump in profits at the nation's largest banking company.

Read More from: BankThink

2 days 12 hours ago

Consumer banking is expected to offset the banks’ underperforming Wall Street units; the defections of Visa, Mastercard and Stripe threaten the cyrpto project’s viability before it starts.

Read More from: BankThink

2 days 13 hours ago

Debt collectors chase folks of all ages, millennials have debt issues, but not just student loan debt? Millennials and Credit Card Debt As if there share of the $1.6 trillion student loan debt were not enough: Research from Clever has found that millennials are greatly...

The post Bankruptcy, Millennials, Debt Collectors appeared first on Detroit Bankruptcy Lawyer Kurt O'Keefe.

Read More from: Stop Creditor

2 days 14 hours ago

Banks shouldn't let the legal and regulatory hurdles deter them, attorney Felix Shipkevich says.

Read More from: BankThink

2 days 14 hours ago

The California Democrat is less recognizable nationally than other progressives elected to the House in 2018. But she may be "the most feared freshman" on the Financial Services Committee.

Read More from: BankThink

2 days 23 hours ago

On October 1, 2019, in In re Clovis Oncology Inc. Derivative Litig., a Delaware Chancery Court denied a motion to dismiss the plaintiffs’ Caremark claim alleging that individual directors should be held financially liable for failing to monitor the development of the biotech firm’s only promising experimental drug and for allowing the firm to publish inflated performance results. Clovis is significant because it marks the second opinion issued by the Delaware courts in recent months that allowed a Caremark claim to withstand a motion to dismiss, even though a Caremark claim is one of the most difficult to plead and prove.
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3 days 11 hours ago

Community banks and credit unions are eager to innovate, but technology upgrades must be done first, says Bruce Lowthers, FIS banking solutions president.

Read More from: BankThink

3 days 23 hours ago

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