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According to the L.A. Times:

The COMI
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News about the Investment Dar restructuring under Kuwait's Financial Stability law, per www.thepeninsulaqatar.com:

The COMI
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Texas bankruptcy judge Jeff Bohm has ruled that a chapter 7 debtor who sold his homestead over a year after filing bankruptcy could not keep the portion of the proceeds when he failed to reinvest them within six months.  In re Smith, 2014 Bankr. LEXIS 3344 (Bankr. S.D. Tex. 8/4/14).    The case concerns the intersection between bankruptcy law, which determines exemptions as of the petition date, and Texas law, which requires reinvestment to maintain the exemption and is part of a continued trend of homestead proceeds at risk
What Happened

 The Debtor filed a chapter 7 petition on March 20, 2012 and claimed his homestead as exempt.   No party objected to the exemption.   The Trustee did not close the case.   On June 21, 2013, the Debtor sold his homestead and received net proceeds of $813,935.77.    The Debtor did not reinvest the proceeds within six months.   On April 11, 2014, the Trustee filed an adversary proceeding seeking to recover the remaining homestead proceeds in the amount of $700,349.09 from the Debtor.   The Debtor filed a Motion to Dismiss.  

The Fifth Circuit and the Vanishing Exemption

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The latest consumer financial product to come under the regulatory microscope is subprime auto lending, which has seen a boom in the last few years.  The subprime auto market's boom underscores a real problem in consumer financial regulation: different consumer financial products have developed different substantive regulatory regimes that are not justified by differences in the products. Most fundamentally, we have an ability-to-repay requirement for mortgages, a different ability-to-pay requirement for credit cards, and nothing else for other products. In light of the changes in all consumer finance markets, in which securitization and sweatbox lending have undermined the traditional lender-borrower partnership that encouraged responsible lending, it is time to consider a universal ability-to-repay requirement for consumer credit. 

Credit Slips
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On August 19, 2014, www.recorder.com reported that the nation’s oldest cutlery business, Lamson & Goodnow Manufacturing Co. of Shelburne Falls, filed for bankruptcy after 177 years of making knives and kitchen tools.  
For more see:
http://www.recorder.com/news/13203172-95/lamson-goodnow-files-for-bankruptcy

The COMI
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Some analysts are looking back to the collapse of banks in Texas due to faulty real estate loans, and conclude that based on the "Texas ratio" Eurozone banks need additional cash.
Per www.globalinsolvency.com:

The COMI
(posted 1 week 3 days ago)

Nothing to see hereSo Argentina plans to ditch Bank of New York Mellon, deposit funds with a local payment agent, invite bondholders to swap into local law and local payment bonds, etc. Not an optimistic sign for those hoping for a quick resolution. And such a transparent violation of the injunction that there really isn't much to say about it. Here's Judge Griesa anyway, from yesterday's hearing: "I want to be very clear, and I want to state it right now. This proposal is a violation of the current orders of this Court and of the Second Circuit.

Credit Slips
(posted 1 week 3 days ago)

The Financial Stability Oversight Council plans to regulate the asset management industry by targeting activities that pose systemic risk rather than the companies themselves. Regulators should take the same approach with life insurers, according to former U.S. Sen. Dirk Kempthorne.

BankThink
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INTRODUCTION
Today we bring you the sequel to last year’s four-part series on United States v. Bond — the tale of three related telecommunications corporations (which we will refer to as the “PT-1 debtors”) whose chapter 11 cases spawned a series of tax-related disputes. Now, the Second Circuit has weighed in, and its decision serves as an important reminder to drafters of chapter 11 plans that a plan cannot bestow powers on parties that the Bankruptcy Code does not.
BACKGROUND

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