Tag:
Trustee
Latest Headlines
Latest Headlines
MF Global update: $1.2 billion may be missing
The trustee in charge of the liquidation of MF Global has issued a release noting that even if he recovers "everything that is at US depositories, the apparent shortfall in what MFGlobal management should have segregated at US depositories may be as much as $1.2 billion or more."
That figure i
Missing $600 million still not found at MF Global
Was something sinister going on at MF Global?
The missing $600 million has still not been located despite an army of regulators, investigators, lawyers and others descending on the disgraced futures brokerage to conduct a search. Judging from media reports, people are still at a complete loss
Judge nixes Madoff trustee suit against JPMorgan
Are we seeing a step-up in the backlash against Irving Picard, the court-appointed trustee for the Bernard Madoff estate? A judge has dealt him a major loss in his efforts to recover funds on behalf of the estate, restricting his ability to pursue massive legal claims against JPMorgan Chase and UB
Volcker Rule coming into focus
The FDIC appears ready to release the final proposals for the controversial Volcker Rule on October 11, according to the American Banker .
Recall that the rule was designed to prevent banks holding FDIC-insured funds from making risky proprietary bets. The rule has already had a tremendous
Robert Kelly out as CEO of Bank of New York Mellon
Not too long ago, Robert Kelly was a star in the banking industry. In 2009, he was sought by the Bank of America board to become their next CEO, though the negotiations quickly fell apart. That same year, Kelly was named one of the best CEOs in America by Institutional Investor . In 2010, he ma
U.S. Bancorp sues Bank of America for putbacks
The Bank of America litigation pile-on continued this week, as U.S. Bancorp, in its role as trusted for the HarborView Mortgage Loan trust, filed another suit over warranty and representation issues related to a $1.75 billion pool of mortgage-backed bonds, according to media reports.
We presum
Madoff trustee wins a big court battle
For the victims of the massive Bernard Madoff ponzi scheme--and there are many who claim this status--justice has been hard to come by.
Many of the self-claimed victims felt victimized again by the tactics of the trustee appointed to wind it all down, the controversial Irving Picard, who rocke
Court decision deals Picard a setback
We've discussed recently whether a backlash of sorts was developing against Irving Picard, the court-appointed trustee who has gone after "net winners" in the Bernard Madoff Ponzi Scheme with a zeal that ultimately angered many.
Some think he has seriously overreached. People in this camp--nam
More investors oppose Bank of America deal with bond investors
The recently announced settlement between Bank of America and 22 institutional bond investors was initially greeted with great fanfare, as it appeared as though the $8.5 billion deal to settle various putback claims would finally help the bank put the mortgage fiasco in the rearview mirror. But it
Backlash against Bernard Madoff trustee may be brewing
The legal tide may be turning against Irving Picard, the court-appointed trustee who was tasked with recovering the ill-gained profits from the Bernard Madoff Ponzi Scheme. When he was given the job, few realized what a goldmine was handed to him and his chosen firm, Baker & Hostetler. Picard
