A new bipartisan bill currently making its way through Congress could have significant effects on independent financial regulators, including the Securities and Exchange Commission and the Commodity Futures Trading Commission.  Authored by Republican Senators Rob Portman of Ohio and Susan Collins of Maine, and Democratic Senator Mark Warner of Virginia, S.3468 – known as the Independent Agency Regulatory Analysis Act of 201 – states in part:
The President may by Executive order require an independent regulatory agency to comply, to the extent permitted by law, with regulatory analysis requirements applicable to other agencies . . .
The President may, by Executive order, require an independent regulatory agency to submit to the [Administrator of the Office of Information and Regulatory Affairs] for review—
(A) any proposed significant rule, prior to publication of the notice of proposed rulemaking; and
(B) any final significant rule, prior to publication of the final rule.

(posted 1 year 44 weeks ago)

Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for September 11, 2012Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for September 11, 2012  Too Much Protection for Derivatives in Bankruptcy Wake County bankruptcies drop 16% Ritz Camera Liquidation Approved After Second Bankruptcy

AllmandLaw
(posted 1 year 44 weeks ago)
Associated Press
John Mayer performs on the NBC “Today” show in New York Friday, July 23, 2010.

From running off his mouth in an offensive interview with Playboy to his singer- and starlet-filled dating history, John Mayer is no stranger to scandal. The latest? Being sued in a Ponzi-scheme bankruptcy case.

WSJ.com: Bankruptcy Beat
(posted 1 year 44 weeks ago)

Business Finance and Restructuring partner Sylvia Mayer, Corporate partner Heath Tarbert, and Business Finance and Restructuring associates Conray Tseng and Scott Bowling co-authored an article regarding resolution planning for systemically important financial institutions and the lessons learned from the first round of filings. Nine of the world’s largest financial institutions have already filed their “living wills” as required by the Dodd-Frank Act, and more than 100 financial institutions face similar requirements before the end of 2013. This article provides an overview of resolution and recovery planning requirements, addresses how to organize a process for resolution planning, and discusses lessons learned with respect to the substantive development of a resolution plan.
The article titled “Resolve to Make it Better: Lessons Learned in the Resolution Planning Process” appears in the October 2012 edition of The RMA Journal.
View a PDF of the article.

(posted 1 year 44 weeks ago)

Posted by Kathy Bazoian Phelps
When a Ponzi scheme crash lands, all kinds of things go flying. The dollars go into the wind, the tangible assets go underground, the perpetrator is thrown into jail, and the allegations of wrongdoing are strewn about with a vengeance.

The Ponzi Blog
(posted 1 year 44 weeks ago)

Newspaper Publisher Journal Register Seeks Bankruptcy AgainJournal Register Company seeks bankruptcy protection again in efforts to reduce costs through selling company assets.  The company is parent to 18 newspapers with media properties throughout 10 states.  The filing is the second time around for the company, even though it just exited bankruptcy in 2009. The Chapter 11 bankruptcy will help the company [...]

AllmandLaw
(posted 1 year 44 weeks ago)

The Second Circuit Court of Appeals recently heard arguments in a case that could have substantial implications on the trading of bankruptcy claims. While the court could choose to resolve the case, Longacre Master Fund, Ltd. v. ATS Automation Tooling Systems Inc., based on a straightforward analysis of New York contract law, it may also take the opportunity to consider the controversial claims trading case of

(posted 1 year 44 weeks ago)

Douglas N. Candeub authors article titled "When Does A Post-Petition Ordinary-Course Expense Become a Dischargeable Claim?" which has been published in the August 2012 American Bankruptcy Institute Journal.  To review the article, please click here .

(posted 1 year 44 weeks ago)

The FDIC can invest in the equity of teetering but salvageable banks. This would save money for the taxpayers, preserve banks that are worth preserving - and send a clear message about the future of community banking.

BankThink
(posted 1 year 44 weeks ago)

Me, over at this place called The New York Times, on the safe harbors in the Code, again.

Credit Slips
(posted 1 year 44 weeks ago)