The ongoing deconstruction of Carillion Media attention has waned from the initial deluge of front-page headlines regarding the Carillion collapse. It would therefore be easy to be ignorant of the ongoing disintegration of the web of Carillion companies beneath Carillion Plc, the ultimate parent company of the Carillion group, which (according to its latest accounts) holds interests in over 350 subsidiaries or joint ventures all over the world. View Full Post
In its recent decision in In re Peregrine Financial Group, the Seventh Circuit became the first circuit to accept a definition of “customer property” which excludes retail foreign exchange contracts, or “forex contracts”, and spot metal contracts.[1]  The Court’s ruling highlights the risk parties that transact in foreign exchange transactions and OTC metal transactions may face in the event that a future commodities merchant is forced into liquidation. View Full Post
PACER’s fees are under attack in a lawsuit now at the summary judgment stage. The lawsuit is described in a very partisan article I stumbled across. It’s a January 23, 2018 article at Naked Capitalism. An excerpt is set out below: “Over the past year many press trade groups have filed friend of the court Amicus briefs, all of them arguing the excessive fees were an impediment to full and accurate reporting. View Full Post
Texas Showdown Over Class Claims This past November, the Bankruptcy Court for the Southern District of Texas sided with the majority of circuit courts when it held (i) that bankruptcy courts may apply Federal Rule of Civil Procedure 23 to class proofs of claim and administrative proofs of claim, and (ii) that a putative representative may file a conditional claim on behalf of a putative class that may later be certified.  View Full Post