April 17, 2007

Daily Bankruptcy News

Brought to you by BKINFORMATION.COM - The Source for Bankruptcy News on the Internet 

Also available on the Web (with links to the news stories) http://bkinformation.com/News/DailyNews.htm
Prior editions: http://bkinformation.com/bankruptcy_news.htm
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Aviation:

Delta says reorganization plan gets ballot nod
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S&P keeps Delta Air Lines ratings
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Victims settle with Comair
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Labor, execs at odds over American's stock awards
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US Airways CEO receives $14.4M from pay, stock options
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Allied Pilots Association launches week-long focus on broken promise of "Shared Reward" at American Airlines
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Law:

The Fantasy Behind the US Attorney Scandal
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Conservative Group Calls for Gonzales's Resignation
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The U.S. Attorney Mess: Roundup
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The Prom Queen Stays Out of Trouble
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Cadwalader Bags NY Rival's Antitrust Practice Chair
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Reed Smith Chicago Scoops Bankruptcy Lawyers From DLA
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New lawyers say, 'pay us less, don't work us so hard'
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Young Lawyer Jumps to Death From Empire State Building
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How Did A Tenured Professor Expose The Duke Lacrosse Scandal?
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Say What?!
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Renowned O'Melveny & Myers White Collar Partner to Join Kirkland & Ellis
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Famed NY Lawyer Gets Vote of "No Confidence" From Colleagues on Judicial Watchdog Panel
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Allstate Ordered to Pay $2.06 Million in Katrina Case
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Ted Olson's Odd Sense of Client Conflicts
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DLA Piper, Eversheds and Pinsents beat magic circle on UK promotions
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Firm's non-legal staff given equality
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Fashion-Forward Lawyers Needed for Trendy Practice
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Which Managing Partner Do You Most Admire? (And Why)
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The cash-hungry associates firms deserve
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Clifford Chance's UK pay move is not that bold
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Firms must focus on wider issues than PEP
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'Dear Abby' Law Firm Blogs a No-No, Insurance Carrier Says
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Arbitration becoming a process of last resort
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Tax:

Dreaded Middle-Class Tax May Be Fixed
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40% pay no tax
(WSJ: separate paid subscription required)

A Few Good Lawyers
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Economy:

53% Of Americans Receive 'Significant Income' From Government Programs
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Retail Sales Increase, Helping Economy to Grow
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Enron:

US Supreme Court rejects Enron challenge
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Derivatives:

Credit-Default Swaps Flop on Exchanges
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Foamex says new CEO, chairman are turnaround specialists
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Autos:

Delphi puts $50M into employee pension fund
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Cerberus group's plan to buy Delphi hits hurdle
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Allied Teamsters Approve Reorganization Plan
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Collins in $96M pact with PBGC to take over pension plan
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Magna a leading contender for Chrysler
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Real Estate:

Fremont in talks to sell subprime unit, loans
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The "blistering language" from this opinion really has some people in the secondary marketing world concerned
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WaMu won't escape subprime turmoil
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Foreclosures Strike During the First Three Months of 2007
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ResMae Asks to Up Subprime Loan Capacity
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Mortgage Problems Not Impacting Credit Card Delinquencies, GE Money Says
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California mortgage defaults near decade high
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Fremont Agrees to Sell $2.9 Billion of Subprime Loans
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Fannie, Freddie to Unveil Subprime Lifelines
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US Homebuilder Confidence Index Falls to 33 in April From 36
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Bad weather cancels Kara hearing
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'Foreclosure rescue' can be fatal
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MLN Workers Fight for Commissions
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Mass. seeks documents from New Century Financial
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Health Care:

NJ Hospital Files for Bankruptcy
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Laurel Hospital Also In Financial Trouble
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Samaritan files for protection
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N.Y. Medical Center Wins Times for Plan
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Religion:

Vengeance Time
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Diocese plan isn't enough
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Corporate Reform:

Prosecutors have no case, says Black
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Lawyer 'shocked' by Torys' take on his advice
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Deloitte & Touche USA Survey Finds Strong Relationship Between Work-Life Balance and Ethical Behavior
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Management commits most fraud: KPMG
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The Lay-ification of David Stockman
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Bankruptcy Reform:

NYC bankruptcy filings plunged in 2006
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Municipalities:

Bankruptcy looms for city, opponents
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Going Concern:

CET Services gets "going concern" note
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All American Semiconductor looking for options
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Oaktree builds US$10.5b fund to target troubled firms
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New Bankruptcy Opinions
(6 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Chapter 7, 12 & 13 Private Trustee Locator
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Recent Ch. 11 Filings
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Bankruptcy Jobs:

(1), (2), (3), (4), (5), (6), (7), (8), (9), (10), (11)
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Publishing:

Bankruptcy filing puts auction for rights to O.J. Simpson book, 'If I Did It,' on hold
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Hedge Funds:

Research website attacks Cayman Islands hedge funds
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Student Debt:

The bonfire of the universities
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Sallie Mae Suitor Has a Taste for Distress
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Sallie Mae sale may yield better deals for students
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The Dissident Who Remade Sallie Mae
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Cuomo Settles With Lender
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Cuomo Says State May Be First to Curb College Lenders
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Predatory Lending:

Tough Luck for Auto Title Loans
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Banking:

Citigroup income tumbles
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Citigroup legal team facing redundancies
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Delinquencies Rise for Citigroup Business Lines, Except U.S. Cards
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Charge-offs, Delinquencies, Foreclosures Rise at Wachovia
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Delaware Bankruptcy Court Denies Reclamation Claimant's TRO Request To Stop Sale Of Goods
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Delaware Supreme Court Clarifies Direct v. Derivative Shareholder Claims
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LoPucki: Bankruptcy Fire Sales
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What Documents Are Required In A Bankruptcy Audit?
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UK:

Asbestos law "unfair"
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Lenders target struggling borrowers
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Machete threat loan shark jailed
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Debtmatters says trading in line with market
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Virgin Media awards seven executives £25m after losing £510m
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Russia:

Yukos energy assets to be auctioned off April 17
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Yukos Service Companies Go On the Auction Block May 16
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Russian Court OKs Jailed Tycoon's Move
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Russian "oligarchs" have turned to big-name U.S. lobbyists such as Dole and ex-FBI chief Sessions to rehabilitate damaged reputations
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China:

China issues regulation on selection of trustees in bankruptcy
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South Africa:

LeisureNet duo desperate to avoid jail time for fraud
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Australia:

Large drop in ACT bankruptcies
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