Headlines

Please note that in order to view the content for the Bankruptcy Headlines or the Bankruptcy Brief Newsletter you must either Login if you are already an ABI member, or otherwise you may Join ABI
Format: 11-24-2014
October 22, 2014
This summer’s huge cyberattack on JPMorgan Chase and a dozen other financial institutions is accelerating efforts by federal and state authorities to push banks and brokerage firms to close some gaping holes in their defenses, the New York Times reported today. Top officials at the Treasury...
October 21, 2014
Melvin L. Watt, director of the Federal Housing Finance Agency, announced a program yesterday offering more reassurances to mortgage lenders that fear they could suffer unpredictable losses on the loans they sell to the government, the New York Times reported today. The move in large part is...
October 21, 2014
Bankruptcy Judge Steven Rhodes said yesterday that he would rule during the week of Nov. 3 on Detroit's plan to adjust its debts and exit the biggest-ever municipal bankruptcy, Reuters reported yesterday. Judge Rhodes said that he would issue an oral ruling in court late that week on whether the...
October 21, 2014
Texas tycoon Sam Wyly has filed for bankruptcy, saying that he does not have the assets to pay the nearly $300 million that U.S. regulators are demanding for his role in a fraudulent offshore scheme, Reuters reported yesterday. In documents filed with a U.S. bankruptcy court in Dallas on Sunday,...
October 21, 2014
The losing bidder in a bankruptcy court auction for Atlantic City's former Revel Casino Hotel isn't ready to fold just yet, as an attorney for Florida developer Glenn Straub has filed an appeal in bankruptcy court to try and stop the sale of the Revel to Brookfield Asset Management, the...
October 21, 2014
Daniel Tarullo, governor of the Federal Reserve, said that banks may face tougher regulations if they fail to crack down on market misbehavior and other misconduct that has continued with “disturbing regularity,” Bloomberg News reported yesterday. “If banks do not take more effective steps to...
October 21, 2014
Military cargo mover National Air Cargo Inc. filed for bankruptcy protection on Friday, citing being hit with a multimillion-dollar legal judgment in an airplane leasing dispute just as the industry began to struggle due to slower business from the U.S. military, Dow Jones Daily Bankruptcy Review...
October 21, 2014
The Securities and Exchange Commission is increasingly steering cases to hearings in front of the agency’s appointed administrative judges, who found in its favor in every verdict for the 12 months through September, rather than taking them to federal court, the Wall Street Journal reported today....
October 20, 2014
The Delaware Supreme Court said on Friday that creditors are entitled to rely on formal loan documents authorized by secured lenders, even if there is a mistake in the documents, Reuters reported on Saturday. The court was responding to a question from a New York federal appeals court relating to a...
October 20, 2014
Energy Future Holdings squared off against creditors in court on Friday as the bankrupt Texas power company sought approval to begin a multibillion dollar auction of its interest in Oncor, a power transmission business, Reuters reported on Friday. The company anticipates an auction in February, and...
October 20, 2014
San Bernardino had negotiated a tentative agreement with the union representing police officers in its chapter 9 debt-adjustment proceeding, but the police union said in a filing last week that the city revoked the agreement, having been “emboldened” by two developments, Bloomberg News reported on...
October 20, 2014
A milestone agreement in Detroit’s record bankruptcy requires its last major creditors to help revitalize the city’s downtown in return for cutting their losses from a $1.4 billion pension deal that went sour, Bloomberg News reported on Friday. Financial Guaranty Insurance Co. would indirectly own...