Countervailing Powers

by hilzoy From the Washington Post: "Senate leaders won the support of Citigroup, one of the nation's largest banks, ... too. And I'm glad they won't be trying to block the sensible position that mortgage debt should be treated like any other secured debt in bankruptcy, which looks like a very good way to prevent [more...]

Date: 2009-01-09 01:20:17

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Copia Files for Chapter 11

Copia Files for Chapter 11 By Julia Moskin Start-up costs for Copia, a culinary museum and cultural center in Napa, Calif ... Code. In addition to the bankruptcy filing, Copia announced that it had secured a $2 million line ... its considerable debt in 2007. As reported in the Sacramento Bee in July, Copia has lost more than [more...]

Date: 2008-12-02 00:46:09

Bonita Bay Brawl: Are Club Members “Victims” Of Developer Lucas and KeyBank?

By Teri Buhl for BankImplode.com The developer of Bonita Bay Club, an exclusive golf community on Florida’s west coast, is using aggressive tactics to get the club’s members to pay off his debts and save him from bankruptcy, according to some disgruntled investors. Questions continue to swirl regarding whether the club’s group of lenders, led by KeyBank , who had lent the developer $120 million by securing club property, is aiding in the scheme. [more...]

Date: 2009-09-29 16:03:28

Scarcity of Debtor-in-Possession Financing Forcing Earlier Bankruptcy Filings

In more normal times, when a company faces the risk of bankruptcy but believes it has a viable business, ... to debtor-in-possession financing. The DIP financing is senior to all outstanding debt, and is generally ... limited non-DIP financing with this approach (particularly secured financing). But a Morgan Stanley [more...]

Date: 2008-12-13 06:17:52

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