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Bankruptcy

Credit Slips

A discussion on credit and bankruptcy.
By Bob Lawless, Adam Levitin, Angie Littwin, Katie Porter, John Pottow, Debb Thorne, Elizabeth Warren

Post Frequency: 12.8/day

Last Entry: April 01, 2011 at 09:01:41

Welcome to Guest Blogger Jim Hawkins

Posted on February 15, 2010
Credit Slips is pleased to welcome Jim Hawkins as our guest blogger for the upcoming two weeks. Jim is an Assistant Professor at the University of Houston Law Center, where he teaches contracts and consumer protection. His recent scholarship focuses....

The Origins of Medical Debt

Posted on February 15, 2010
I?m very grateful to have the chance to spend some time here at Credit Slips. I?ve learned a lot from reading this blog for the last few years, so it is fun to be a small part of it. One...

Produce the (Bogus?) Paper

Posted on February 15, 2010
In 2007, I wrote an article showing that notes and mortgages were often missing from bankruptcy mortgage claims, despite a clear rule that they should be attached. That finding did not establish that companies do not have such documentation. At...

Chapter 11 Filing Data Are Noisy

Posted on February 11, 2010
On the heels of Monday's post about the January bankruptcy filing rate, I intended to write something insightful about chapter 11 filings in different places around the United States. After playing with the data, there are at least three problems...

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2Big2Fail -- snow day edition

Posted on February 10, 2010
From this morning's Financial Times: Congress is still discussing proposals to give regulators a new ?resolution authority? to wind down large financial institutions. The new powers could enable regulators to force creditors of failing institutions to �suffer losses on their...

Bankruptcies Maintain Similar Month-to-Month Rate in January

Posted on February 08, 2010
The January bankruptcy filing basically held steady to December, according to the new bankruptcy statistics now available from Automated Access to Court Electronic Records (AACER). There were just over 102,000 total bankruptcies spread over the nineteen business days in January...

Monetary Policy and the Housing Bubble

Posted on February 06, 2010
A popular explanation of the financial crisis lays the blame at the feet of the Federal Reserve for lax monetary policy. In this story, the Fed dropped interest rates starting in 2001 and kept rates too low for too long....

Sovereign CDS -- Random Thoughts

Posted on February 03, 2010
Lots of attention on Greece these days, but has anyone noticed that France's CDS has declined more on a percentage basis this year (from 32.05 to 53.40)? Even Germany has seen a bigger percentage decline (from 26.33 to 37.84). And...

FJC Posting for Bankruptcy Position

Posted on January 29, 2010
The Research Division of the Federal Judicial Center has an opening for a senior research associate who has expertise in bankruptcy. The job posting is online, and it looked like something that might be of interest to some of our...

Anna Nicole Smith --The Bankruptcy That Keeps on Giving

Posted on January 28, 2010
It can really bug me when blogs have posts that are just a naked attempt to draw traffic to their site. These posts always are sure to contain a few words that will attract the attention of search engine users...

Lehman, Synthetic CDOs, Sapphires, etc.

Posted on January 28, 2010
The Lehman bankruptcy court is out with a new decision that has the financial community somewhat miffed, since it removes one more piece of their mistaken belief that they don't have to understand or deal with the Bankruptcy Code. The...

Overdraft Fee Regulation and the End of Free Checking?

Posted on January 25, 2010
Ron Lieber has a thoughtful column about the future of free checking. Consumers have become quite used to free checking over the last 15 years or so. The impetus for the column is whether the Fed's new overdraft regulations, scheduled...

There May Be More Financially Distressed Small Business Owners Than You Think

Posted on January 21, 2010
Last night, I caught the tail-end of a commercial for debt relief services aimed just at small business owners. Commercials for debt relief services are hardly unusual, especially in these financially troubled times. It was striking, however, to hear a...

On Break Up Fees

Posted on January 20, 2010
Or "break fees," as Pottow would call them. The 3d Circuit is just out with a new opinion that's primary contribution will be to add a dozen words to the asset purchase agreement. In the case, the debtor entered into...

How Many Bankruptcy Appeals?

Posted on January 19, 2010
Classes started today. This semester I am teaching Business Bankruptcy, which principally covers chapter 11. We were talking about the bankruptcy court system, a topic that does not always get covered in great detail in the other bankruptcy courses, and...

Chapter 11 Costs -- Help?

Posted on January 19, 2010
As part of my sabbatical project this semester, I'm returning to the ABI Chapter 11 Fee Study database in the hopes of further refining my model of professional fees in chapter 11 cases. As one part of this, I'm trying...

Usury and Securitization

Posted on January 18, 2010
Most institutional lenders in the United States are not subject to usury laws. National banks can evade they by basing themselves in states without usury laws and exporting the laxer regulation to other jurisdictions. State institutions often find themselves exempt...

Life Imitates Art (or at Least My Final Exam)

Posted on January 18, 2010
From the San Jose Mercury News, the headline says it all: "Repo man takes San Jose mom's car with 2-year old in back seat" (courtesy of The Consumerist). Now, a short essay from my Secured Credit final exam: Cletus and...

A Special Banrkuptcy Court

Posted on January 12, 2010
Lots of news today about a Congressional plan to create a special bankruptcy court for financial services firms. One question that jumps to mind: who staffs the court? The most likely answer is that the court would draw from other...

Visa Does Not Issue Cards or Extend Credit.

Posted on January 05, 2010
The Union Station Metro station in DC is plastered with Visa ads. Currency of Progress, Visa is a Payment Technology Company, etc. But among the ones that was featured was this beauty: One rarely sees such a defensive ad. When...

Pro-Consumer Innovations in Payments

Posted on January 05, 2010
Todd Zywicki wrote in a Wall Street Journal op-ed yesterday that "The most important pro-consumer innovation in payment systems of the past two decades has been the general disappearance of annual fees on most credit cards." Todd is right that...

Big Drop in December 2009 Filings--That's RIght, a Big Drop

Posted on January 05, 2010
On a daily basis, December bankruptcy filings fell to 5,304. That is a 12.8% decline from November. According to Automated Access to Court Electronic Records (AACER), there were over 116,600 filings spread over the 22 business days in December. The...

2009 Milestones?

Posted on December 30, 2009
Any nominations? So much with high-profile items like bailout to choose from, but I like the fact that debit card usage exceeded credit card in Q4 for the first time....

New Credit Card Tricks, Traps, and 79.9% APRs

Posted on December 18, 2009
The card industry is at it again, devising new tricks and traps to disguise the cost of its products and avoid price competition. Unfortunately, this was exactly what I predicted in the wake of the Credit CARD Act. I was...

Chrysler on Vacation

Posted on December 15, 2009
Many have speculated, in both the comments to my post yesterday and on other blogs, about the editorial significance of the Supreme Court's vacatur of the 2d Circuit's Chrysler opinion -- the most common reading being that the Court intended...

I know it's over

Posted on December 14, 2009
And it never really began -- the Supreme Court has denied the Indiana Pension Funds' appeal as moot in Chrysler.

Guesstimate of 2010 Bankruptcy Filings

Posted on December 14, 2009
How many U.S. bankruptcy filings will there be in 2010? A "projection" would imply all sorts of careful analysis with regressions and charts. I don't have that, but I do have a guesstimate based on the trends we have seen...

Keeping it In-House

Posted on December 14, 2009
Rather than risk a Dubai World chapter 11 case, Dubai is apparently doing a quickie revamp of its bankruptcy code. Of course, the code itself is only half, or less, of the issue -- you also need the structures to...

If You're Looking for More Blawgs to Follow . . .

Posted on December 10, 2009
The folks over at careeroverview.com have a list of 50 Great Business Law Blogs. They even gave us a shout out, go figure.

What's Your Point?

Posted on December 10, 2009
Over the past year there have many, many articles about the perils of our nation's debt load, and I've been largely context to see these dispatched by that other New Jersey professor. But now the WSJ has entered my territory,...

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