Headlines

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Format: 09-20-2014
September 19, 2014
U.S. banks may get another year to shift some swaps trading from their government-insured units as regulators respond to demands to give them more time, Bloomberg News reported today. A delay until July 2016 in applying the Dodd-Frank Act separation requirement is being weighed in discussions...
September 19, 2014
The nation's largest mortgage servicers are desperate to put the robo-signing scandal behind them, American Banker reported today. At least two of the servicers say that they are close to being released from consent orders dating back to 2011, when the Office of the Comptroller of the Currency...
September 19, 2014
The Detroit Institute of Arts is prepared to sue to prevent the sale of its collection if Detroit's plan for exiting bankruptcy is not approved, the museum's chief operating officer told the bankruptcy court yesterday, Reuters reported. When Detroit filed for the largest-ever U.S. municipal...
September 19, 2014
Investing in Detroit, Warren Buffett said yesterday, is an increasingly appealing proposition, and will be “much better after the bankruptcy than before,” Fortune Magazine reported today. In part, that’s because the city’s finances were clearly unsustainable before now, and no one wants to invest...
September 19, 2014
Home loans to lower-income Americans are dwindling as federal regulators and major banks continue to haggle over who pays when riskier mortgages go bad, Bloomberg News reported today. Federal Housing Administration loans, given to borrowers with weaker credit scores and requiring small down...
September 19, 2014
Less than two months after entering Chapter 11 protection, Eagle Bulk Shipping Inc. won court approval yesterday of a reorganization plan that cuts $975 million in debt from its balance sheet, the Wall Street Journal reported today. The approval from Bankruptcy Judge Sean Lane largely concludes...
September 19, 2014
Thomas Jefferson School of Law is scrambling to restructure its debt after blowing a bond payment deadline, the Wall Street Journal reported today. The downtown San Diego private law school has disclosed in a financial filing that it failed to meet its entire debt obligations in June. But an...
September 19, 2014
An examiner will be appointed to conduct an investigation into the bankruptcies of two affiliates of troubled Indianapolis-based developer HDG Mansur, the Indianapolis Business Journal reported today. HDGM Advisory Services LLC and HDG Mansur Investment Services Inc., which manage Shariah-compliant...
September 19, 2014
TelexFree LLC’s bankruptcy advisers will forgo more than $1 million in fees they charged during the short time they worked for the company, which has since been accused of operating a massive pyramid scheme, the Wall Street Journal reported today. To head off objections from the U.S. Securities and...
September 19, 2014
A group of lenders to LodgeNet---a hotel Internet and technology provider that filed for chapter 11 bankruptcy last year and sped through the process in two months---are suing the reorganized company and other lenders, saying that a subsequent restructuring is "intended to eviscerate" their rights...
September 19, 2014
LightSquared blew through $81.4 million in August, and Philip Falcone's wireless venture has now lost $1.6 billion since it filed for bankruptcy in May 2012, the Wall Street Journal reported today. The loss was $30 million more than the company spent in July, mostly attributed to a reuse fee it had...
September 19, 2014
Imagenetix Inc., a San Diego-based company developing over-the-counter topical creams, skincare products and nutritional supplements, announced that its reorganization plan was confirmed and that all provisions of the plan were approved by Bankruptcy Judge Margaret Mann with an effective date of...