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creditors

Financial International Politics 

Halkbank

February 17, 2021February 18, 2021 BRIEF
banks, creditors, Iran, Sanctions, Terrorism, Turkey

A federal court in New York conditionally dismissed a suit brought by hundreds of judgment creditors of Iran against Turkey’s Halkbank relating to claims it skirted U.S. sanctions against Iran and supported state-sponsored terrorism. Most of the plaintiffs do not live in the U.S. and Turkey would be a more appropriate forum for the case.

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Business Financial 

Tough Luck for Citibank After $900 Million Payment Oops

February 16, 2021February 16, 2021 NINA PULLANO
banks, creditors

Citibank’s mistake is now money in the bank for lenders that got paid out, a federal judge ruled, saying the financial titan can’t claw back its erroneously distributed cash.

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Business Consumers Financial 

Collections Class Action

March 9, 2020March 10, 2020 BRIEF
arbitration, Class Action, creditors, debt collection, Florida

Midland Credit Management obtained hundreds of arbitration awards in Florida without “offering any evidence that an arbitration agreement existed between the parties and without being licensed to collect debts in Florida,” a class action claims in Palm Beach County Court.

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Consumers Financial 

Wells Fargo

August 30, 2019August 30, 2019 BRIEF
banks, creditors, Forgery, Wells Fargo

A woman sued Wells Fargo Bank in superior court, claiming she told it, in person and through an attorney, that it had issued a forged check for $9,837 on her account, yet it continues to dun her for money and reported her “debt” to credit agencies, in violation of the California Identity Theft Act.

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Financial International 

New Greek Government Faces Swift Test From Creditors

July 8, 2019 ASSOCIATED PRESS
Bailout, creditors, Elections, Greece

Conservative party leader Kyriakos Mitsotakis was sworn in as Greece’s new prime minister Monday, a day after his resounding win over left-wing Alexis Tsipras, who led the country through the tumultuous final years of its international bailouts.

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Financial 

Neiman Marcus

December 11, 2018December 11, 2018 ROBERT KAHN
creditors, Fraud, retail

Marble Ridge Capital sued Neiman Marcus Group in Dallas County Court, claiming it fraudulently transferred $1 billion in assets “for no consideration … to hinder, delay and defraud the creditors of the company.”

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Business Economy Government 

Hedge Fund Can’t Derail Puerto Rico Oversight Board

July 13, 2018 ADAM KLASFELD
bankruptcy, Constitution, creditors, Debt, Puerto Rico

A federal judge overseeing Puerto Rico’s bankruptcy rejected a hedge fund’s challenge to the constitutionality of the oversight board tasked with restructuring $120 billion in debt and pension liabilities.

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Appeals Business Media 

Tribune Creditor Showdown Gets High Court Deferment

April 5, 2018 BARBARA LEONARD
bankruptcy, creditors, investors, newspapers, U.S. Supreme Court

The Supreme Court deferred a ruling Tuesday on whether to take up an appeal by unsecured creditors of the bankrupt Tribune Co.

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Appeals Financial Law 

High Court Won’t Limit Asset Recovery in Bankruptcy Cases

February 27, 2018February 27, 2018 KEVIN LESSMILLER
bankruptcy, creditors, Seventh Circuit, U.S. Supreme Court

Resolving a circuit split and handing a win to creditors, the U.S. Supreme Court ruled Tuesday that certain financial transfers completed before a company went bankrupt can be undone by bankruptcy trustees.

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Business Economy Government National Politics 

Moody’s Warns of US Credit Rating Downgrade If Interest Payments Missed

September 5, 2017May 23, 2018 DAN MCCUE
creditors, Debt

Moody’s Investor Service, one of the world’s premiere credit agencies, said Tuesday it will consider the United States government in default of its debt obligations if it misses its October interest payments.

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Appeals Business Financial 

Law Firm Not Liable for $1.5B Loan Gaffe

June 29, 2017June 30, 2017 LORRAINE BAILEY
Attorneys, creditors, GM, JPMorgan Chase, malpractice, Seventh Circuit

Entities that lent General Motors $1.5 billion before it went bankrupt cannot sue GM’s law firm, Mayer Brown, for accidentally cancelling the collateral on the loan, the Seventh Circuit ruled.

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Appeals Business Consumers 

Debt Buyer Wins Creditor Status in Supreme Court

June 12, 2017June 13, 2017 KEVIN LESSMILLER
creditors, debt collection, Fourth Circuit, Neil Gorsuch, U.S. Supreme Court

In the first opinion authored by newcomer Justice Neil Gorsuch, the Supreme Court ruled Monday that a bank’s collections group didn’t skirt the law while collecting on delinquent car notes because it qualifies as a creditor, not a debt collector, after buying the loans.

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Business Consumers Government National 

Justices Rule Against Consumer in Debt-Collection Case

May 15, 2017May 22, 2017 DAN MCCUE
bankruptcy, creditors, Debt, debt collection, U.S. Supreme Court

A divided Supreme Court on Monday ruled that debt collection companies can’t be sued for trying to recover years-old credit card debt from people who seek bankruptcy protection.

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Appeals Business Employment Securities 

Ex-Lehman Employees Lose Ground in Bankruptcy Case

May 4, 2017May 22, 2018 LORRAINE BAILEY
bankruptcy, banks, creditors, Second Circuit, Stocks

Lehman Brothers creditors are entitled to recover from the collapsed financial giant’s bankruptcy estate ahead of former Lehman employees in possession of now-worthless restricted stock units, the Second Circuit ruled Thursday.

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Appeals Business Consumers 

Santander Fights for Creditor Distinction at High Court

April 18, 2017 BRANDI BUCHMAN
banking, creditors, Debt, U.S. Supreme Court

Poised to set precedent on the different regulations for debt collectors and creditors, the Supreme Court wrestled Tuesday with the finer points of the Fair Debt Collection Act.

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Appeals Business 

Justices Tackle Designation of Bankruptcy Plan Insiders

March 27, 2017 KEVIN LESSMILLER
bankruptcy, banks, creditors, Ninth Circuit, U.S. Supreme Court

The Supreme Court agreed Monday to resolve a circuit split over how to determine whether a creditor involved a bankruptcy reorganization plan is an insider to the deal who shouldn’t vote on the plan.

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Appeals Business Employment 

Workers Prevail in High Court Bankruptcy Fight

March 22, 2017March 23, 2017 KEVIN LESSMILLER
bankruptcy, creditors, Settlement, U.S. Supreme Court

Handing a New Jersey company’s truck drivers a victory, the Supreme Court ruled 6-2 Wednesday that bankruptcy courts can’t allow select creditors to jump the repayment line and leave others empty-handed.

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