In re Jaussi, 488 B.R. 456 (Bankr. D. Colo. 2013) – A chapter 7 bankruptcy trustee requested court approval of a sale of vacant land to a bank that held a first lien on the property, with the sale to be “free and clear” of the junior liens of two judgment creditors.  Sounds reasonable, right?  The […]

The Council of Institutional Investors is urging the SEC to take action in response to news reports that Broadridge will discontinue its practice of providing voting tallies to proponents of shareholder proposals. It is unclear whether many were even aware that Broadridge was providing this information to shareholder proponents who used the company to distribute materials to investors.
Its letter urges the SEC to immediately end the “patently unfair and arbitrary change in practice” as well as to determine whether regulatory reform is necessary.  The letter indicates that Broadridge’s decision, the timing in particular, “raises deeply troubling questions about the fairness and impartiality of the proxy system,” a repeated theme throughout the brief communication. 
CII expands its outrage with respect to the availability of vote tallies by complaining generally about Broadridge’s near monopoly over proxy distribution, advocating for additional time to further consider proposed changes to the NYSE rules related to fees charged for distributing proxy materials.

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Orr: 6 weeks to gauge whether Detroit can be fixed outside bankruptcy court freep.com/article/201305… via @freep — Randall G. Reese (@Chapter11Cases) May 20, 2013

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