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Kazakhstan’s 2d Largest Bank Seeks Protection of Its US Assets Through Chapter 15

  Image via Wikipedia   JSC BTA Bank (BTA), reportedly the second largest bank in Khazakstan, sought protection for...

07 February, 2010 / 0 Comments

Does “Too Big to Fail” Mean “Too Big for Bankruptcy”?

The market collapse of 2008 and resulting financial crisis have led to significant reflection on...

31 January, 2010 / 0 Comments

Pushing the Envelope

From New York's Southern District comes the strange tale of the Canadian asset backed commercial...

25 January, 2010 / 0 Comments

Why Banks Aren’t In Bankruptcy

Recent federal assistance to the banking sector has focused attention on how failing banks are...

16 January, 2010 / 0 Comments

The Stanford Saga – Chapter 15: Some Further Thoughts on COMI.

When a foreign business entity commences a bankruptcy proceeding, US courts' recognition of that proceeding...

09 January, 2010 / 0 Comments

The Stanford Saga – Chapter 14: Fightin’ Words.

Evidentiary hearings are scheduled for later this month in the ongoing struggle for control over...

04 January, 2010 / 0 Comments

The “Empty Creditor Hypothesis” – Systemic Financial Risk? Or Worrisome Empty-Headedness?

A significant amount of ink has been spilled in recent months over the state of...

27 December, 2009 / 0 Comments

Buyer’s Market? Or Seller’s Standoff? A Look At The Numbers

Several posts this year - the most recent one here - have noted the general buyers'...

20 December, 2009 / 0 Comments

The Stanford Saga – Chapter 13: Three Questions About Recognition

An update regarding Peter Wastell and Nigel Hamilton-Smith's dispute with federal Receiver Ralph Janvey over control of Stanford International...

14 December, 2009 / 0 Comments

What’s It Worth?

Prior to the economic downturn - when sales were rising and debt was cheap -...

07 December, 2009 / 0 Comments

Chicken.

The purchase of debt on the cheap and subsequent use of activist litigation to seize...

30 November, 2009 / 0 Comments

The Stanford Saga – Chapter 12: Showtime.

A brief but important update regarding Antiguan liquidators Peter Wastell and Nigel Hamitlon-Smith's pending request...

23 November, 2009 / 0 Comments

The Stanford Saga – Chapter 11: Is Something Rotten in the State of Antigua?

As readers of this blog are aware, Antiguan liquidators Peter Wastell and Nigel Hamilton-Smith and...

16 November, 2009 / 0 Comments

Zoned Out

The fiduciary duty of directors and officers to the shareholders of their corporation is a...

09 November, 2009 / 0 Comments

Figuring Out the House Rules

In an age of globalized business, US-based firms commonly find themselves dealing with foreign creditors...

02 November, 2009 / 0 Comments

Small Business Chapter 11’s – Swift and Silent

A recent study conducted by risk management solutions provider PayNet, Inc. highlights an interesting trend...

26 October, 2009 / 0 Comments

The Stanford Saga – Chapter 10: “Bleak House” Redux?

Postings on this blog have focused on the cross-border battle between Antiguan liquidators Peter Wastell and...

19 October, 2009 / 0 Comments

Taking the Punchbowl Away from the Party

Business bankruptcies in the US can be big business for hedge funds trading in distressed...

12 October, 2009 / 0 Comments

Chapter 15 Round-Up: July-September 2009

After a blazing start during the first half of 2009, it was a longer, slower summer for...

05 October, 2009 / 0 Comments

The Chrysler Sale – Back to the Future?

The bankruptcy blogosphere is replete with commentary on Chrysler LLC's sale, through Section 363 of...

28 September, 2009 / 0 Comments

The Stanford Saga – Chapter 9: “As If We Don’t Have Safes In Canada!”

A brief update in the ongoing struggle between Antiguan liquidators Peter Wastell and Nigel Hamilton-Smith...

21 September, 2009 / 0 Comments

The Law of Unintended Consequences

Unintended consequences. Unfortunately, life is full of them . . . and so is the 2005...

14 September, 2009 / 0 Comments

Technorati Post

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11 September, 2009 / 0 Comments

The Stanford Saga – Chapter 8: Home Is Where The Corporate Jet Is . . . But Where Is COMI?

Several weeks have passed since Antiguan liquidators Peter Wastell and Nigel Hamilton-Smith and federal receiver...

08 September, 2009 / 0 Comments

Who’s Gonna Clean Up This Mess?!!

Chrysler's and GM's recent sales through the Bankruptcy Courts of New York's Southern District have raised...

31 August, 2009 / 0 Comments

“Bankruptcy Boundary Games”

One of the little-emphasized features of the 2005 Bankruptcy Code is a series of amendments designed to...

24 August, 2009 / 0 Comments

Is The Shortest Way Up . . . Straight Down?

"There's a cement slab on Ridge Lane, topped with a few pipes, an electrical box...

16 August, 2009 / 0 Comments

The Stanford Saga – Chapter 7: Sir Allen Weighs In . . . Sort Of

Since mid-July, Antiguan liquidators Peter Wastell and Nigel Hamilton-Smith and federal receiver Ralph Janvey have...

10 August, 2009 / 0 Comments

The Survey Says: Four Out of Five Companies Can’t Forecast Mid-Term Cash Flow

On Tuesday, Industry Week reported results of a recent study by Miami-based Hackett Group, Inc....

02 August, 2009 / 0 Comments

NYT Echoes European Predictions: A Rising Wave of Bankruptcies

July 15's "Deal Book" (hosted by the New York Times) offered a fresh prediction by...

27 July, 2009 / 0 Comments

Distressed M&A: The Party Rolls On

A couple of earlier posts on this blog (here and here) have periodically discussed the state...

18 July, 2009 / 0 Comments

The Stanford Saga – Chapter 6: Mr. Justice Lewison Steals the Show

A flurry of pleadings this week precede Judge David Godbey's anticipated ruling on Peter Wastell's...

12 July, 2009 / 0 Comments

Chapter 15 Round-Up: May and June 2009

2009 is shaping up to be an extraordinary year for business bankruptcy.  Headlines and hoopla aside,...

03 July, 2009 / 0 Comments

The Stanford Saga – Chapter 5: The Liquidators Strike Back

Nearly two weeks ago, this blog highlighted further scuffling in the ongoing contest for administrative...

27 June, 2009 / 0 Comments

2009: Year of the Mega-Case?

Last Monday's "Credit Slips" blog features a brief piece by Seton Hall's Steve Lubben, who...

22 June, 2009 / 0 Comments

The Stanford Saga – Chapter 4: Where Is a Ponzi Scheme “Headquartered,” Anyway?

This blog has intermittently followed the Texas-sized contest for control over now-defunct financial and investment...

16 June, 2009 / 0 Comments

California’s Ongoing Efforts to Limit Municipal Bankruptcies

Since late January, California's state assembly has considered legislation designed to impose additional hurdles on cities,...

09 June, 2009 / 0 Comments

Chrysler and Successor Liability

Readers of this blog will be familiar with Seton Hall Professor Stephen Lubben's prior work...

01 June, 2009 / 0 Comments

The Stanford Saga – Chapter 3: Antiguans 1, Receiver 0

Last week's blog post (here) covered early skirmishing between SEC receiver Ralph Janvey and Antiguan liqudators Nigel...

25 May, 2009 / 0 Comments

The Stanford Saga – Chapter 2: Too Many Cooks In the Kitchen?

A prior post on this blog mapped out the field of combat in the brewing battle between...

16 May, 2009 / 0 Comments