Bill on Bankruptcy: Freud, Marx Brothers, Madoff
March 27 (Bloomberg) -- There was no settlement afoot when U.S. District Judge Jed Rakoff put off a hearing on an effort by the trustee for Bernard L. Madoff Investment Securities LLC to block a $410 million settlement between New York Attorney General Eric Schneiderman and feeder fund manager J. Ezra Merkin. In the second item, Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle discuss the merger between AMR Corp. and US Airways Group Inc. While the merger itself isn't controversial, the U.S. Trustee is fighting against bonuses for top management. The video ends with discussion of a case from New Orleans where Wells Fargo Bank NA lost in bankruptcy court and won on appeal, only to sustain a more embarrassing defeat after remand when two courts imposed $3.2 million in punitive damages, in the process calling the bank's actions "reprehensible," "intentional and egregious."
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Brexit Negatives are Priced in the Sterling, Says Marinov
59:01 - U.K. Prime Minister Theresa May risks provoking a “full-blown constitutional crisis” unless she finds a way to involve the leaders of Scotland, Wales and Northern Ireland in her Brexit talks, the Institute for Government said in a report published Monday. May is due to meet Scottish First Minister Nicola Sturgeon, Wales’s Carwyn Jones and Northern Ireland’s Arlene Foster on Monday to discuss Britain’s departure from the European Union. Scotland and Northern Ireland voted against Brexit, and politicians from both nations have expressed concerns. Credit Agricole Head of G10 FX Research Valentin Marinov discusses the outlook for sterling and bonds with Anna Edwards and Manus Cranny on "Bloomberg Daybreak: Europe."