Bankruptcy

Live Well Financial CEO Michael Hild has been charged with misrepresenting the value of a bond portfolio in parallel actions by the U.S. Attorney's Office and the Securities and Exchange Commission.

President Trump is expected to sign legislation soon that would expand the number of farmers who could file under the more lenient Chapter 12. Ag lenders are worried because farm bankruptcies recently rose and the trade war with China could worsen.

While the result is anticlimactic, the court’s observations are more interesting; they tend to reinforce doubts about the usefulness of this alternative bankruptcy proofing mechanism.

"Golden" shares with veto power over bankruptcy filings are commonly used as a backup measure for special purpose vehicles, but there are several issues to be addressed as case law develops.

The U.S. Second Circuit ruled that Momentive Performance Materials should use what's known a a "market rates" formula to determine the appropriate payout for a series of replacement notes issued to bondholders.