Wells Fargo Board Actively Considering Executive Clawbacks

Wells Fargo’s board of directors is “considering whether to claw back pay from former retail-banking head Carrie Tolstedt as well as from Chief Executive John Stumpf.” This deliberation comes in the wake of the bank’s recent scandal (read our post about it here). “The board wants to take action before Mr. Stumpf returns to Capitol Hill;… Continue reading Wells Fargo Board Actively Considering Executive Clawbacks

Pfizer Decides to Not Break Up Business

The pharmaceutical company, Pfizer, has decided to not break up into two publicly-traded companies, ending Wall Street speculation regarding the company’s future for now. Pfizer announced Monday (today) that they believed they can maximize their shareholder value as the company is now, but “it reserves the right to split in the future if the situation changes.” Their original discussion… Continue reading Pfizer Decides to Not Break Up Business

Las Vegas Realtor Sentenced for Bankruptcy Fraud Scheme

Former realtor Barbara Jean Dennis “pleaded guilty in February to bankruptcy fraud, admitting that she used the automatic stay provision in bankruptcy proceedings to avoid paying the mortgages, while at the same time, collecting rent from her tenants, according to a Department of Justice news release.” Dennis owned at least 12 real estate properties in Texas… Continue reading Las Vegas Realtor Sentenced for Bankruptcy Fraud Scheme

A Tale of Two Celebrity Marriages and One Prenuptial Agreement

John Goralka posted an interesting article on Kiplinger regarding the importance of prenuptial agreements, using two celebrity cases as examples. Goralka uses Johnny Depp and Amber Heard as his first example. Their marriage lasted about 15 months and they did not sign a prenup. Heard is reported to receive a $7 million settlement, which she has… Continue reading A Tale of Two Celebrity Marriages and One Prenuptial Agreement

ITT Educational Services Files for Bankruptcy

On Friday, September 16th, ITT Educational Services filed for Chapter 7 bankruptcy protection. The decision led to ITT closing more than 130 of their colleges this month, affecting approximately 35,000 students and 8,000 employees. ITT’s move to file bankruptcy comes after the Department of Education barred them from enrolling new students who receive federal aid,… Continue reading ITT Educational Services Files for Bankruptcy

Mortgage Servicer Saddled with $375,000 in Sanctions for Violating Rule 3002.1

Rochelle’s Daily Wire posted an interesting article about a decision in Vermont. Here’s a snippet of the article: “In the first reported decision of its kind under Bankruptcy Rule 3002.1, Bankruptcy Judge Colleen A. Brown, Vermont’s chief bankruptcy judge, imposed $375,000 in sanctions on a mortgage servicer for billing debtors for fees without first filing the… Continue reading Mortgage Servicer Saddled with $375,000 in Sanctions for Violating Rule 3002.1

Regularly Conducted Tax Sales Cannot Be Fraudulent Transfer, Ninth Circuit Holds

Rochelle’s Daily Wire posted an interesting article recently. Here is a snippet: “The Ninth Circuit joined the Fifth and Tenth by holding that a tax sale conducted in accordance with state law cannot be set aside as a fraudulent transfer for less than reasonably equivalent value. “A company owned real property but did not pay… Continue reading Regularly Conducted Tax Sales Cannot Be Fraudulent Transfer, Ninth Circuit Holds