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Distressed Bank Restructurings
Over the past decade, the landscape for struggling distressed financial institutions has evolved, but has not changed dramatically. To put it in perspective, in 2005-2006, there were essentially no bank failures. At its peak, however, as the economic crisis matured in 2010, there were 157 bank failures. That same year, the FDIC's confidential “problem” institution list (that identifies banks that demonstrate weaknesses that threaten their financial viability) mirrored the rise in bank failures, and spiked at 884 financial institutions.
Since 2010, the number of actual bank failures has declined from the high of 157 in 2010, to 92 in 2011 and 51 in 2012. However, in 2013, the FDIC's “watch list” of troubled lending institutions remains at a historical level, at nearly 700 (or 10% of the country's 7181 chartered banks) ' extraordinary when compared with the prior decade when the list never rose to more than 150 troubled institutions attracting the FDIC's attention. Although actual failures appear to have declined, the FDIC's list of nearly 700 “problem” banks reveals that the problem of inadequate bank capitalization and the need for restructuring remains strong.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.