Help Center

ABI Blog Exchange

Royal Bank of Canada fired its U.S. investment banking chief Blair Fleming because he failed to disclose that he was having an improper relationship with an employee.

Read More from: BankThink

1 week 2 days ago

The Dallas auto lender might lose as much as one-third of its business if it severs ties with the automaker, raising fresh questions about whether its parent company will buy out shareholders and take full ownership.

Read More from: BankThink

1 week 2 days ago

591px-Geologic_map_California_opt

Nothing gets someone into a bankruptcy lawyer’s office quicker than the prospect of losing a lawsuit and having a judgment entered against them.

Callers are frantic to see if they can file bankruptcy before judgment is entered.

They worry that once a judgment is entered, their options in bankruptcy vanish.

Not so.

The debt underlying a California judgment remains just as dischargeable as it was before the case was filed.

And,  a judgment in California does not automatically become a lien on the defendant’s property.

Read More from: The Soap Box

1 week 3 days ago

In Momentive Performance Materials, the Second Circuit declined to dismiss as equitably moot the appeals of certain noteholders.  The decision highlights that successfully invoking the doctrine of equitable mootness may be difficult under prevailing case law where plan confirmation issues have been diligently appealed by parties in interest, even when a bankruptcy court has confirmed a complex plan of reorganization and the plan has gone effective.

Background

For context, Momentive Performance Material’s (“MPM”) capital structure included the following debt issuances:

1 week 3 days ago

animals-985500_1280_opt

If an asset isn’t titled to you,  it does not have to be disclosed in a bankruptcy filing.

I hear it and see it in action again and again.

If it isn’t titled to you, it will be “safe” from the bankruptcy trustee and from creditors.

And yet it is wrong.

Wrong, wrong, wrong.

Still, people transfer titles to cars and cash and quitclaim their homes to friends before bankruptcy, thinking that’s smart.

No.  It’s both dumb and dangerous.

Not only does putting your assets in the names of friends and family expose them to a lawsuit to recover the property, in extreme situations it puts your bankruptcy discharge at risk.

Read More from: The Soap Box

1 week 3 days ago

Readers react to members of the Consumer Financial Protection Bureau's advisory board getting fired, opine on Sen. Elizabeth Warren slamming deregulation, weigh in on facial recognition technologies and more.

Read More from: BankThink

1 week 3 days ago

The agency found no “systemic issues” in its review of other banks’ sales practices; some churches say the lenders are needed, others see the devil.

Read More from: BankThink

1 week 3 days ago

Let’s Ask for Sanctions! (But What Kind?)
Originally published by the American Bankruptcy Institute 2018.

Courts might issue sanctions pursuant to statute,rule of procedure or inherent power, but keep in mind the American Rule: Each party bears its own attorneys’ fees and litigation expenses, and attorneys’ fees are not ordinarily among the costs that a prevailing party might recover. Courts employ narrow exceptions when imposing sanctions, which might properly have a punitive aspect
and compensatory effect. This article will review 28 U.S.C. § 1927, Rule 9011 of the Federal Rules of Bankruptcy Procedure, the inherent-power doctrine and 11 U.S.C. § 105.  Read more.

Tags:
1 week 3 days ago

During the hearing in Wilmington, Delaware, the Weinstein Co. lost its fight to keep Harvey Weinstein’s employment contract secret. That document shows that Harvey Weinstein's actions were facilitated by the company, Jeffrey Waxman, a Morris James partner and bankruptcy lawyer for the alleged victims, said in court. Click on the links below for the full articles.

1 week 3 days ago

The Insolvency Service intends to publish a new guidance notice to address the issues faced by employers in dealing with collective consultation when a company is facing insolvency, following consultation with the industry last year.P45

The guidance note is expected to require insolvency practitioners to notify the government in advance of collective redundancy proposals and to comply with the requirement to consult when seeking to rescue or wind up a business.

Read More from: eSQUIRE Global Crossings

1 week 3 days ago

First Internet Bancorp in Fishers, Ind., which went public in 2013, could also use the capital for acquisitions and other investments.

Read More from: BankThink

1 week 3 days ago

As customers increasingly research products online, they are coming to know more about a bank’s products than workers. This is a problem.

Read More from: BankThink

1 week 3 days ago

First Midwest Bancorp has agreed to buy Northern States Financial in Waukegan, Ill., for $91 million.

Read More from: BankThink

1 week 3 days ago

Warren Buffett and Jamie Dimon are doubling down on their plea for corporations to stop providing quarterly earnings guidance.

Read More from: BankThink

1 week 3 days ago

Robert Broeksmit, a career mortgage industry executive, will succeed David Stevens as the president and CEO of the Mortgage Bankers Association.

Read More from: BankThink

1 week 3 days ago

Paring down branches, product offerings and business lines can help banks succeed.

Read More from: BankThink

1 week 3 days ago

Closing branches might be good for cost control, but it can also diminish the ability to gather core deposits. Banks with $2 billion to $10 billion of assets — which are ranked here by three-year average returns on equity — are learning this the hard way.

Read More from: BankThink

1 week 3 days ago

The bank’s joint initiative with CFSI awards capital to firms trying to address issues that the startup teams personally experienced.

Read More from: BankThink

1 week 3 days ago

Live Oak is the latest bank to jump into this niche lending area. But some warn they are beginning to see cracks in credit quality.

Read More from: BankThink

1 week 3 days ago

Pages