9.22.11

Round-Up: Insolvency in the News

Here are some insolvency stories from around the web making headlines this week:

Despite its ongoing liquidation, Borders stores may remain open overseas: WSJ Bankruptcy Beat

Lehman Brothers drops its attempt to collect $11 billion from Barclay’s over Lehman’s distressed sale in 2008.

Chuck Greenberg, owner of the Texas Rangers, may seek to buy the NHL’s Dallas Stars in bankruptcy.

The Tennessean reports that incomes in the Nashville area plunged sharply last year, according to the latest census.

In a sign of the times, Hallmark has started selling greeting cards for when that special someone loses his or her job.


Read the full post    By Dan Lins    Tags    Comments 0

9.14.11

The Bankruptcy Venue Reform Act of 2011: Hearing Update

I previously posted on the Bankruptcy Venue Reform Act of 2011 (H.R. 2533), available here, which attempts to prevent Chapter 11 debtors from filing bankruptcy in a debtor-friendly forum where they have no real presence. On September 8, 2011, the Judiciary Committee conducted a hearing and gathered evidence. I previously assumed this bill was dead-on-arrival once the big business lobby sunk its teeth in, but it appears that the legislation is growing bi-partisan support.

Read the full post    By Griffin Dunham    Tags ,    Comments 0

9.8.11

Senate Confirms Donald to Sixth Circuit Court of Appeals

On September 6, the U.S. Senate confirmed Judge Bernice Bouie Donald, U.S. District Court for the Western District of Tennessee, to the Sixth Circuit Court of Appeals. The vote was 96-2; Senators David Vitter and Jim DeMint voted against the nomination. Here are some quick facts relating to the newest member of the Sixth Circuit:

  • Age 59.

  • Continuously served as a judge in Tennessee since 1982.

  • Attended law school at the University of Memphis Cecil C. Humphreys School of Law (1975-1979).

  • Attended Memphis State University (1969-1974).

  • First African-American woman to be elected as a judge in Tennessee (1982-1988), serve as a bankruptcy court judge (Western District of Tennessee, 1988-1995), and sit as a U.S. district judge in her state.

Once Judge Donald is sworn in sometime during the next four to six weeks, the Sixth Circuit will be up to its capacity of 16 judges, comprised of nine nominated by Republican presidents and seven nominated by Democrat presidents.

Read the full post    By Griffin Dunham    Tags    Comments 0

8.26.11

Nashville Post’s 2Q 2010 Bank Performance Summary

The Post came out with its quarterly summary of local bank performance today. http://bit.ly/p6iT21 (subscription required) The central premise of the piece is that “a closer look at the numbers and their trends show that clear camps are emerging.” The camps are “banks that have seemingly digested the worst of the downturn” and “institutions that are nowhere near over their indigestion.” This meshes pretty well with what we are seeing.

Read the full post    By Bob Mendes    Tags ,    Comments 0