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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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.
Read moreMidland 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.
Read moreA 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.
Read moreConservative 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.
Read moreA 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.
Read moreThe Supreme Court deferred a ruling Tuesday on whether to take up an appeal by unsecured creditors of the bankrupt Tribune Co.
Read moreResolving 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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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.
Read moreEntities 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.
Read moreIn 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.
Read moreA 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.
Read moreLehman 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.
Read morePoised 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.
Read moreHanding 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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