Daily News: May 13, 2014

WSJ: DOJ Rep Questions Use of Chapter 11 by Suffering Banks

The Wall Street Journal reported that a bankruptcy representative from U.S. Department of Justice called the use of Chapter 11 to further sales of suffering banks a “questionable practice.”

The objection filed Tuesday in the case of First Mariner Bancorp pointed to the circumstances surrounding an auction for the company that was conducted by investment firm Sandler O’Neill + Partners, the Wall Street Journal said.

To read the entire Wall Street Journal story, click here.