ABI Blog Exchange

The comptroller of the currency also addressed, in his role as acting FHFA head, whether Congress or the Trump administration will spearhead GSE reform.

The stars aligned for the two longtime rivals to join forces, and some observers speculate that other regional banks will need to strike similar partnerships if they hope to remain competitive. But others say such deals are rare because they're hard to pull off.

The Senate Banking Committee will examine the nomination of Mark Calabria to oversee the regulator of Fannie Mae and Freddie Mac, as well as nominees for the NCUA board and Treasury.

By Winnie Hu

Avadel Specialty Pharmaceuticals, LLC, has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 19-10248).  Headquartered in St. Louis, Missouri, ASP is a distributor, marketer and retailer of pharmaceutical products.  According to the First Day Declaration, ASP intends to sell substantially all of its assets under section 363 of the Bankruptcy Code.  ASP has filed a motion for approval of $2.7 million in unsecured debtor-in-possession financing to be provided by its parent, Avadel US Holdings.  Epiq Restructuring is the proposed claims and noticing agent.  The case has been assigned to the Honorable Chief Judge Christopher S. Sontchi.

Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald for more information regarding this matter.

The deal would be the biggest bank merger in more than a decade; banks would need to show how many days they could last with just cash on hand.

Upcoming Committee Formation Meeting: Wednesday, February 13, 2019

Case Name: 19-10210 (LSS)

Location: Office of the US Trustee 844 King street, Room 3209, Wilmington DE 19801

Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. See the petition for relief.

Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald for more information regarding this matter.

Chime, a financial technology startup that offers online banking services, is close to raising $300 million at a $1.5 billion valuation, according to two people familiar with the matter.

Major U.S. banks shaved about $21 billion from their tax bills last year — almost double the IRS’s annual budget — as the industry benefited more than many others from the Republican tax overhaul.