The new Apple Watch is pictured during an Apple event at the Flint Center for the Performing Arts in Cupertino, California, in this file picture taken Sept. 9, 2014.
Reuters

Apple Inc. supplier GT Advanced Technologies Inc. has delayed a challenge to a court order cloaking information about the troubles believed to be responsible for the sapphire producer’s bankruptcy. The Wall Street Journal has the Daily Bankruptcy Review article here.
(Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit our homepage, scroll to the bottom and click “try for free.”)

WSJ.com: Bankruptcy Beat
(posted 1 week 6 hours ago)

Receiving Wide Coverage.... Banks Take Beating in Stock Market: Wednesday's stock market swings hit banks hard as fears of a sputtering global economy took hold. "U.S. bank stocks suffered their worst one-day fall in almost two years," tumbling 3.4%, according to the Financial Times. Bank shareholders are worried that the sluggish global recovery and potential for deflation in the U.S. and Europe could keep interest rates low even longer than expected, the papers report. "People areÂ...

BankThink
(posted 1 week 7 hours ago)

The trading day in the U.S. ended on October 15th with stocks suffering their biggest losses in years, wiping out the year’s gains in many U.S. and European indexes. While diversity into alternatives may help hedge against some loss, not all behave in the same manner. AIMkts Managing Editor Alicia Purdy looks at stock market correlation and alternatives amid this week’s market bust.
Print

(posted 1 week 7 hours ago)

I’m back. Back to blogging. Home here at L360.
The Return of the Prodigal Son Painting by Bartholome Esteban Murillo National Gallery of Art (Washington, D.C.) The Return of the Prodigal Son
Painting by Bartholome Esteban Murillo
National Gallery of Art (Washington, D.C.)
Several years ago, Kevin O’Keefe or Tom Mighell (one of them) commented that the majority of legal blogs last less than a year. Clearly, I’m one of them on quiting. It just took me longer to quit.
I stopped regularly blogging after 4 years (from September, 2008 until October 2012), and after over 420 blog entries. Always focusing on commercial finance, I started blogging on distressed debt topics (under the “ToughTimesForLenders” blog name).  As the economy (kind of) recovered, the blog became “Lenders360blog” in order to cover “positive” finance topics. Finally, technology was added since it is an operational pillar for all commercial lenders.

Tough Times for Lenders
(posted 1 week 8 hours ago)

Authored by Adam B. Brandon of Rogers TowersIn addition to ensuring compliance with the federal Fair Debt Collection Practices Act (FDCPA), lenders should take precautions to limit its exposure to claims under the Florida Consumer Collection Practices Act (FCCPA).  For example, lenders should:
 

  • Ensure that loan accounting systems accurately track the terms of loan modifications, forbearance agreements, and other loan documents at the time those documents are executed.

 

  • Establish written policies and procedures to reduce errors and to verify the accuracy of accounting systems.  Loan officers should ensure that the policies and procedures are routinely followed by all employees at all levels of a lender’s operations.

 

  • Periodically review the terms of loan documents to ensure that they are fully reflected in accounting systems.

 

  • Ensure that correspondence with debtors accounts for all loan modifications.  Be aware that automatically generated notices have greatest risk of not being accurate or up to date.

 

  • Avoid direct communication with borrowers whose loans are in default and who are also represented by counsel regarding the debt.

 

Florida Banking Law Blog
(posted 1 week 8 hours ago)

Effective tomorrow, October 16, 2014, the filing deadline for pleadings filed with the United States District Court for the District of Delaware will be 6:00 p.m. prevailing Eastern Time. Per the letter from Chief Judge Leonard Stark, “the 6:00 p.m. Eastern Time deadline applies to every filing and service deadline in every case in the District of Delaware, other than initial pleadings.” The new rule also applies to exchanges of discovery requests and discovery responses, even if hand-delivered.
Bankruptcy practitioners should be advised that, per Chief Judge Stark, the new deadline DOES APPLY to bankruptcy appeals and any other bankruptcy-related cases to the extent those cases are on the District Court’s docket.

(posted 1 week 1 day ago)

ISS has published its draft 2015 voting policies for public comment, which are due on October 29. The final release is expected around November 7 and any new updates will apply for meetings taking place on or after February 1, 2015.

(posted 1 week 1 day ago)

Rhode Island’s Donald W. Wyatt Detention Facility has struggled since officials at U.S. Immigration and Customs Enforcement pulled out their detainees in 2008, following the death of a Chinese national held there. That pullout happened shortly after the facility expanded to hold 770 detained people.
The detention center, which owes about $97.3 million in bonds, was taken over by an outside financial professional earlier this year.
The facility is supposed to kick in money to the city of Central Falls, R.I., which had its own financial problems and eventually filed for bankruptcy in 2011. When the city’s lawyers redrew revenue forecasts as part of its financial revival, lawyers pointed out that they hadn’t been getting—nor did they expect to receive—payments from the facility, which takes in detained people from Rhode Island, Connecticut, Massachusetts, New Hampshire, Maine and Vermont, according to its website.
An article in Wednesday’s Wall Street Journal shows how some cities and states that took on risk to build jails or prisons are hurting after crime unexpectedly fell and the inmate population declined.

WSJ.com: Bankruptcy Beat
(posted 1 week 1 day ago)

Co-hosts Chris Cahill and Alicia Purdy are joined each week by a guest to discuss the basics of angel investing, crowdfunding, private equity, venture capital, hedge funds, and other investment vehicles beyond publicly traded securities. The program, which premiered on September 25th, is available through iTunes; Stitcher, or on Libsyn.
Past and confirmed guests include investment advisors, attorneys, fund managers, and founders of such companies as Ace Portal; Early Shares; Fund Wisdom; InvestedIn; Loquidity; Realty Mogul; OfferBoard; The Soho Loft; and Sprott Global.
AIMkts Radio is the audio sister to AccreditedInvestorMarkets.com, the Internet’s most comprehensive and unbiased educational resource about crowdfunding, angel investing, venture capital, private equity, private shares, and other investment classes beyond publicly traded stocks and bonds. Unbiased and beholden to no one, AIMkts Radio does not accept advertising from financial advisors, brokers, or issuers.
About Financial Poise Radio Productions: Financial Poise Radio Productions is a wholly owned subsidiary of DailyDAC, LLC. DailyDAC, LLC owns and operates a growing suite of web-based properties devoted to providing education and news to investors, private business owners, C-level executives, and their respective trusted advisors

(posted 1 week 1 day ago)