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On December 8, 2019, Celadon Group, Inc., along with 25 of its affiliates, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (Lead Case No. 19-12606-KBO). The Debtor reports assets and liabilities each estimated between $100-500 million. It is presently expected that funds will be available for distribution to unsecured creditors. The cases have been assigned to the Honorable Karen B. Owens.

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.

 

5 days 18 hours ago

On December 8, 2019, Celadon Group, Inc., along with 25 of its affiliates, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (Lead Case No. 19-12606-KBO). The Debtor reports assets and liabilities each estimated between $100-500 million. It is presently expected that funds will be available for distribution to unsecured creditors. The cases have been assigned to the Honorable Karen B. Owens.

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.

 

5 days 18 hours ago

On Sep. 30, 2019. Dollars in thousands.

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5 days 18 hours ago

Facebook’s stablecoin initiative has inspired countless ideas about how to put fintech under the control of federal regulators. Here are the most critical questions.

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5 days 18 hours ago

On Sep. 30, 2019. Dollars in thousands.

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5 days 18 hours ago

The company will hold off on making loans under the Advantage Loan program as it conducts an audit and implements new policies and procedures.

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5 days 18 hours ago

The market was upended because the largest banks hold more liquid assets in Treasuries than at the Fed, limiting their ability to supply repo funding on short notice, according to a new analysis from the Bank for International Settlements.

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5 days 18 hours ago

Paul Volcker, the former Federal Reserve chairman who broke the back of U.S. inflation in the 1980s and three decades later led President Barack Obama’s bid to rein in the investment risk-taking of commercial banks, has died.

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5 days 19 hours ago

Will My Bankruptcy Show Up on a Background Check?

A lot of people worry that if they file for bankruptcy in Arizona, they won’t ever be able to get credit again. They know that bankruptcy can stay on their credit report for a long time, and that can make them seem like poor candidates for credit with future lenders.

What many people don’t realize, however, is that bankruptcy can also be an impediment to getting future jobs. Many employers run a comprehensive background check on prospective employees, which includes a criminal history, a credit check, and a public records check, and bankruptcy is included on the latter two. A bankruptcy filing can give employers pause, indicating that you may not be a person who makes good decisions or who is responsible.

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5 days 19 hours ago

The deal will create a bank with nearly $50 billion in assets.

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5 days 20 hours ago

The bank may extend advisory service to clients with as little as $5,000 to invest; trading of the cryptocurrency has plunged.

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5 days 20 hours ago

In this CFO series post we provide some thoughts for companies facing a cash shortage and how it can potentially be dealt with.

Symptoms and Plugging the Leak

A cash shortage is frequently a symptom of one or more larger problems. The list of such causal problems is long, and includes (i) failed acquisitions and other initiatives, (ii) declining operations, (iii) inadequate capitalization, and (iv) management errors. Failure to solve the cash shortage may easily result in corporate demise.

In our view, solving this issue requires both coming up with the additional liquidity and taking steps to prevent the rescue cash from leaking away. Without dealing with both pieces of the puzzle, the problem will likely recur. Moreover, without the “leak” addressed, would-be providers of rescue cash may shy away from the situation until they are comfortable that the company – and its cash self-sufficiency – are stabilized.

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5 days 20 hours ago

Cost cutting and systems integrations are short-term priorities, but over time CEO Kelly King and his heir apparent, Bill Rogers, will have to exploit the combined BB&T-SunTrust's revenue potential and prove the biggest post-crisis merger was a good idea.

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6 days 4 hours ago

The banking industry could finally have answers soon on the degree of agreement between regulators reforming the Community Reinvestment Act, how they envision CRA zones of the future and other key matters.

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6 days 7 hours ago

The company will merge Fidelity Savings and Loan and Washington Savings Bank into its own bank.

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1 week 10 hours ago

The challenger bank might use the proceeds from its latest funding round to buy other fintechs that would allow it to add more products and services, its CEO said.

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1 week 1 day ago

Citizens Bank's Bruce Van Saun is our Banker of the Year; shake-up continues at Wells Fargo with poaching of Santander's CEO; the Navy commander behind the credit union banks love to hate; and more from this week's most-read stories.

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1 week 1 day ago

Mark Weidemaier and Mitu Gulati

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1 week 1 day ago

Moderates on the Financial Services Committee are attempting to block legislation that would extend the 36% interest rate cap on loans to military personnel to all consumers.

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1 week 1 day ago

Many people are collecting Social Security disability benefits in Pennsylvania. Some of them, due to the unfortunate death of a spouse, may become eligible for survivor benefits as well. So, can someone receive both disability and survivor benefits at the same time in PA? Our Pennsylvania disability attorneys at Young, Marr & Associates outline Social […]

The post Can You Get Disability and Survivor Benefits at the Same Time in PA? appeared first on .

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1 week 1 day ago

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