« The Servicing Settlement: Banks 1, Public 0 | Main | Congressmen Raise New Questions About FHFA Resistance to Principal Reduction »

Quote of the Day

posted by Stephen Lubben

In re Bank of America, N.A, 11-24503 MER, 2011 WL 2493056 (Bankr. D. Colo. June 21, 2011):

Since there is no allegation Bank of America is a railroad ...  the Court accepts Bank of America's representation that it is a “bank” for purposes of § 109(b)(2).

 

February 9, 2012 at 9:03 PM in Financial Institutions

Comments

Doesn't an involuntary petition not dismissed in a limited number of days trigger an event of default on ISDA swaps documentation?

Posted by: Adam Levitin | February 10, 2012 at 08:49 AM

Not an issue here -- petition filed on the 17th, BofA moved to dismiss on the 19th, court dismissed on the 21st.

Posted by: Stephen Lubben | February 10, 2012 at 08:57 AM

The comments to this entry are closed.

Contributors

Current Guests

Follow Us On Twitter

Like Us on Facebook

  • Like Us on Facebook

    By "Liking" us on Facebook, you will receive excerpts of our posts in your Facebook news feed. (If you change your mind, you can undo it later.) Note that this is different than "Liking" our Facebook page, although a "Like" in either place will get you Credit Slips post on your Facebook news feed.

Categories

Archives

Bankr-L

  • As a public service, the University of Illinois College of Law operates Bankr-L, an e-mail list on which bankruptcy professionals can exchange information. Bankr-L is administered by one of the Credit Slips bloggers, Professor Robert M. Lawless of the University of Illinois. Although Bankr-L is a free service, membership is limited only to persons with a professional connection to the bankruptcy field (e.g., lawyer, accountant, academic, judge). To request a subscription on Bankr-L, click here to visit the page for the list and then click on the link for "Subscribe." After completing the information there, please also send an e-mail to Professor Lawless ([email protected]) with a short description of your professional connection to bankruptcy. A link to a URL with a professional bio or other identifying information would be great.

OTHER STUFF