PrimaLend's Chapter 11 case is being closely watched as a key indicator of market confidence in the troubled subprime auto lending sector. The Texas-based lender gained court approval for bidding procedures last week as it attempts to sell its assets and maximize value for its loan portfolios that Continue Reading
Law 360 | Auto Lenders Shaken by Bankruptcy, Stirring Broader Worries
The bankruptcies of Tricolor and PrimaLend marked the first major insolvencies that the U.S. auto lending industry had seen in years. According to industry observers, they serve as a wake-up call for lenders that may have grown too comfortable with minimal oversight and few consequences. In a Continue Reading
Structured Credit Investor | Mass Deportations and Due Diligence Gaps Are Exposing Cracks in the US Consumer ABS Market
Deportation policies and due diligence blind spots are exposing hidden risks in the U.S. consumer ABS market. The market is facing a new kind of crisis — not of defaulting borrowers, but of disappearing ones. As mass deportations and tightening immigration enforcement under the Trump Continue Reading
SubPrime Auto Finance News | Experts From Davis+Gilbert and McDonald Hopkins Offer More Analysis of Tricolor Bankruptcy Impact
With the recent bankruptcy filing by Tricolor Holdings, many industry leaders are attempting to predict how this will impact subprime auto finance for the remainder of the year and beyond. Joseph Cioffi and Nicole Zatserkovniy, attorneys in the Bankruptcy, Creditors’ Rights + Finance Practice Continue Reading
Yahoo! Finance | Anne Wojcicki’s Bid To Buy Back 23AndMe May Not End a Legal Fight Over DNA Customer Data
Anne Wojcicki has reclaimed control of 23AndMe through a successful bid by TAMM Research Institute, a nonprofit controlled by Wojcicki – but this move could bring a new set of unique challenges. Gary Kibel, a partner in the Privacy, Technology + Data Security Practice Group at Davis+Gilbert, was Continue Reading
Reuters | How Trump’s Crypto Business Partners Left Their Old Clients in the Lurch
July 2024, Dough Finance — a crypto startup trading platform that made it easy to make risky bets using borrowed funds — suffered a major hack, resulting in the theft of substantial assets belonging to its users. Following the collapse of Dough Finance, the founders launched a new venture — World Continue Reading
Association of Commercial Finance Attorneys (ACFA) | Let’s Get Ready to Warehouse
Quick Details Lenders relying on inventory collateral located in warehouses have long relied on the warehouses waiving their liens in favor of the lenders. In recent years, warehouses have become more aware of their rights and have pushed back on lien waivers and have, instead, entered into Continue Reading
Law360 | FTC Chair Flags Data Risks in 23andMe Bankruptcy
A vast amount of sensitive consumer data is at risk with 23andMe auctioning off genetic information, biological DNA samples, health information, payment data and other personal information gathered from the roughly 15 million customers. Gary Kibel, a Davis+Gilbert Privacy, Technology + Data Continue Reading
Reuters Legal News | Crypto Ownership and Custodial Wallets: Owning Without Owning?
Over the last decade, year over year, hackers have stolen billions of dollars in cryptocurrencies. Last month, another of the world’s largest cryptocurrency exchanges was hacked in what has been called the largest crypto heist in history. The exchange was Bybit, based in Dubai, and the Continue Reading
Reuters Legal News | Valuing Crypto in the Bankruptcy Multiverse
The recent bankruptcy filings by several major crypto platforms have given rise to unexpected realities for customers and investors. The sudden change in rights, legal exposure in bankruptcy litigation and varying outcomes in the several different proceedings can be reminiscent of a Hollywood Continue Reading