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Bankruptcy Court
Latest Headlines
Latest Headlines
$600 million still missing from MF Global
It's not every day that $600 million vanishes.
But that is exactly what happened at MF Global, and if the money is not recovered soon, it will not be long before we start hearing demands that executives be put in jail. Someone somewhere in the enterprise knows something. The top executives--no
Corzine steps down, lawyers up
Jon Corzine has stepped down as CEO of MF Global, a firm he leaves mired in bankruptcy court and a victim of the European debt crisis as well as a surfeit of recklessness.
Regulators and prosecutors are circling, and we can only hope they get to the bottom of the mess soon. We suggested recent
MF Global faces mounting questions
While lawyers for MF Global were in bankruptcy court tying to assure a judge that all assets had been accounted for, more issues kept cropping up.
The CME, the main SRO regulating the brokerage, issued a damning statement about the firm's recent activity.
"With respect to the apparent shor
Update: the irony of MF Global's bankruptcy court move
MF Global has filed for Chapter 11 bankruptcy court protection from creditors. While some thought there might be some prepackaged elements to the filing, those hopes were dashed, as talks with Interactive Brokers Group apparently fell apart in the morning. The company was in talks to buy some asse
MF Global prepares for bankruptcy
A frantic bid to find a buyer or white knight investor for MF Global has paid partial dividends for MF Global. While the likes of Goldman Sachs or State Street did not step up as a savior, the commodities and derivatives trading firm did find a buyer, Interactive Brokers Group, for some of its ass
Will MF Global fail?
The announcement that John Corzine, coming off of a stumbling political career, would take over as head of MF Global was greeted with enthusiasm back in March 2010. The idea was that a Goldman Sachs guy would bring in new ideas that would embrace some of the magic of his old firm. Corzine inde
Speculation: Bank of America headed to bankruptcy court
The move by Bank of America to move derivatives assets from the Merrill Lynch broker dealer unit to the bank holding company continues to generate controversy and speculation.
Christopher Whalen, the co-founder of Institutional Risk Analytics and trenchant critic of the banking industry, has r
Bank of America CEO Moynihan convenes execs, will face angry shareholders
You have to give Brian Moynihan credit for his willingness to confront shareholders at a tough time. The CEO of Bank of America appeared before thousands of investors in an event sponsored by the hedge fund Fairholme Capital Management, and he is scheduled to face investors again on Monday.
Th
Will Bank of America put Countrywide into bankruptcy court?
Few would disagree that Bank of America's purchase of Countrywide will go down as one of the great corporate blunders in the history of finance. It has claimed the legacy of former CEO Ken Lewis, whose career floundered on the deal he so ardently championed, and it now threatens to similarly tank
MERS changes to survive
We noted recently that it looks like MERS will survive. But it will certainly not be the same firm that caused some much controversy over the last few years.
The firm, of course, was designed to ease the paper burden of secondary market mortgage sales-the DTCC of the mortgage-backed market-bu
