August 16, 2007

Daily Bankruptcy News

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Law:

Hard Job Hunt, $40-$70 K, for '07 Grads
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Writing Bankruptcy Book Eats Up Attorney's Sabbatical
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Baker & McKenzie breaks $1m partner profits barrier
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Texas giant faces $4.4bn hedge fund claim
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McGuireWoods Names New Managing Partner
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Wiki on Weil
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Practice Pointers: Be Nice to the Support Staff
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Update on Litigation Support Guy
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BigLaw Resumes 101
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Greenberg Traurig Forms Multidisciplinary Subprime & Mortgage Markets Group
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The Pants Suit Marches On
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Day Casebeer Asked to Defend Itself
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New Security Twist to Acquisitions Spurs More Work for Firms
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E-Mail Etiquette for Virtual Lawyers
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Small Firm Finds New Ways to Encourage Business Development
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Whose ABA Is It?
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ABA President's Vision: What, No Free Love?
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Strategy Means Combining Two Disparate Concepts
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Lawyer Attacks Pit Bulls, Saves Woman
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Law Grad Spots Stylish Attire in Trash
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Say What?!
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The Dog Ate My Law License
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Autos:

Dura gets bankruptcy court approval for equity rights
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Delphi: Judge to rule on IUE pact
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Economy:

US consumer prices cool a notch
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Poole Says `Real Economy' Unhurt by Subprime Collapse
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Fed expected to cut interest rates if market turmoil becomes more severe
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Investors Ask Not If, But When Fed Will Cut Rates
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Real Rout Greets Faux Ease
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Fed poised to pump more money into markets
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Fed 'Injections': Who Benefits?
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Fed opens cash spigot as mortgage lenders reel from credit crisis
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Drama turns spotlight on ECB role
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Prices for key foods are rising sharply
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Inflation: Above the Fed's Comfort Zone
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Japanese Stocks Decline on Heightened US Subprime Concern
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Toronto stocks book fifth straight decline
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Aussie stocks drop as credit fears grow; banks hit
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Asian Stocks Tumble to Five-Month Low on U.S. Subprime Concern
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FTSE drops below key level
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Brazil's financial assets hit by global turmoil
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South Korean Stocks Plunge
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Japan Stocks Down Sharply Amid Jitters
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Canada Accepts More Collateral for One-Day Purchases
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Retailing:

Macy's 2Q Profit Falls 77 Percent
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Sharper Image Claims Reimbursing Customers Will Cause Bankruptcy
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Wall Street:

U.S. stocks appeared set for heavy losses following steep declines in Asia and Europe,
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S&P erases gains for year as mortgage lender sinks
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The Dow drops below 13000 on fears over the credit markets
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Credit fears increase, S&P gives up 2007 gains
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Stocks Haven't Caught Up With Credit Turmoil
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Health Care:

Paterson hospital files for bankruptcy
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Barnert seeks Chapter 11
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Ruling says hospitals can require full payment from patients
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Religion:

Audit: Davenport Diocese protecting youth from sexual abuse
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Media:

Jane Fonda Radio Network In Trouble?
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Paper:

Bankruptcy Judge OKs Port Townsend Paper's Chapter 11 Plan
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Golf:

Running Horse Purchase Agreement Expected this Week
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Oil/Gas:

Thule Drilling project hits problems
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Publishing:

Ethics and OJ Simpson
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Credit Cards:

'Subprime' credit card bank settles complaint in NY
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Accounting:

Fuel Systems Will Restate Financials
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BDO says US firm 'can still handle work'
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Real Estate:

Mortgage Lenders: Close to the Edge?
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Anworth says gets Deutsche Bank default notice
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Closing attorneys see red after receiving bad checks from HomeBanc Mortgage - Lawyers scramble to cover HomeBanc Mortgage's mistake of bouncing checks or face bar violations
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Leave It to "The Onion"
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HomeBanc cancels annual meeting
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Hahn & Hessen Selected as Counsel to Creditors' Committee in American Home Mortgage Bankruptcy Case
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What's next for American Home Mortgage
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Accredited Turns Up The Heat On Lone Star
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First Magnus halts loans
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Investors see bargain in Thornburg stocks
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Existing Home Sales Fall in 41 States
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Home sales volumes can crash but prices stay up. Doesn't this fly in the face of economics 101?
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US Home Sales Slump to Four-Year Low, Prices Fall
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Md. home sales drop more than 20% in 2Q
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More markets show home-price increases
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KKR Financial says it has "ample liquidity"
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Mortgage loss puts KKR IPO in doubt
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KKR warns mortgage losses could hit $290m
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KKR Financial Sells $5.1 Billion in Mortgage Loans
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A KKR affiliate sought to delay repayment of $5 billion in short-term debt held by 15 money-market funds as the mortgage crisis hit the Wall Street titan
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Countrywide faces high short-term funding costs
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Mortgage lender Countrywide said it has been forced to tap an $11.5 billion credit facility to fund its operations
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Top US lender 'risks bankruptcy'
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Countrywide plunges on bankruptcy fear
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Countrywide put option volumes soar as stock tumbles
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Investors Bet on Countrywide to Fall Further
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Countrywide Falls; Merrill Cites Bankruptcy Prospect
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Subprime woes infect commercial paper market
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Impac Dismisses Bankruptcy Talk
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Impac Mortgage Says No Longer Funding Alt-A Loans
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Mitt Romney Hit by Mortgage Meltdown
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American Home owes $350K for office furniture
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Addicted to Debt
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Approved Home Loans No Longer a Done Deal
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Another round of mortgage companies swoon in August
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Luminent Mortgage Capital downgraded to "sell"
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Sub-prime crisis engulfs 'jumbo' lenders
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Credit crisis could be felt in Marin's luxury housing market
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Home Builders Brood Over Future Sales
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Beazer's Rocky Ride Set to Continue
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Foreclosed Homes Won't Sell in Some Markets
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Subprime menace endangers hobbits and James Bond
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Builder Confidence Drops to Lowest Reading in 16 Years
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Subprime Rules Should Apply To All Lenders, Bankers Say
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Fannie Mae fights for lending rights
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NAR Supports New Regulations to Combat Unfair and Deceptive Lending Practices
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Mortgage Lenders See Credit Costs Soar
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Bad brokers? -- Time was you went to Jimmy Stewart and the local Building and Loan and, if the bank's lending officer smiled upon you, you got a loan
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Bankrupt Mortgage Lending Companies Lead To Shareholder Lawsuits
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Layoffs:

Amgen Will Cut 2200 to 2600 Jobs, Saving $1 Billion
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400 workers to be idled in Athens plant shutdown
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Corporate Reform:

SG Sides Against SEC in Major High Court Securities Case
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US says opposes 3rd party lawsuits
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Prosecutors request no bond for Nacchio
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In High Court Filing, It's US vs. Investors
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Distressed Investing:

Vulture funds set to pounce on struggling companies
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Rating Agencies:

Critical focus turns on ratings agencies
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EU to probe credit agencies in subprime crisis
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Enron:

Bush administration takes side of defendants in key Supreme Court case linked to Enron
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Derivatives:

Does anyone know where the bodies are buried?
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Corporate Governance:

Delaware Supreme Court Issues Long-Awaited Decision In Deepening Insolvency Case
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Bankruptcy History:

The Death Penalty for Bankruptcy Fraud
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Gambling:

My father and the loan sharks
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New Bankruptcy Opinions
(No 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), (12)
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Lampert's Bets Hit the Skids
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f

Celebrity:

Law Firm Says Michael Jackson Owes Them $113,000
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Sheik, Lawyers Whack Jackson
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Mo' Money Blues
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Aviation:

AirTran Will Go The Distance For Midwest
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Midwest to discuss sale choices Thursday
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Airline shares drop; Midwest Air battle heats up
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Analyst says TPG likely to raise bid for Midwest
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American Recalls TWA Attendants
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Judge OKs NWA, MAC bondholders deal
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Hedge Funds:

Goldman Says 'Quant' Funds Need Different Strategies
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Don't Expect Hedge Funds to Say 'Sorry'
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Hedge funds take more than a trim
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Liquidity needs throw spanner in quant models
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How to Speak Hedge-Fund
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Old Hedge Funds Never Die; They Just Fade Away
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Fund bail-outs can be good business - It may make business sense to help funds that are temporarily short of cash, but not to make good investors' losses
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Schumer Bill To Raise Tax On All Investment Partnerships,
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SEC Slaps Fund Firm
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Mining:

Asarco's parent asking for control over large settlements
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Student Debt:

Sallie Mae Buyout Shaky
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Mass Torts:

Homeward Bound - "Take-home liability"
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Jailed Diet Drug Lawyers Get Chance To Obtain Freedom While Waiting Trial
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Finance:

LBO industry sees profits in debt it created
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Banks' exposure to LBO loans low, survey says
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Credit crunch hits $1bn MGM finance plan
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Fitness:

Noteholders Support Bally Plan Amendments
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Pensions:

A deal is a deal, but what if that deal puts us on the road to bankruptcy?
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Legislators likely will distribute $11.7M WorldCom payment
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Credit Reporting:

Security Freezes
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Forestry:

Bankruptcy looms for mill operator
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Bonds gain on continued credit fears
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Complex structured bonds face downgrades
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US Three-Month Treasury Bill Yield Falls Most Since Oct. 1989
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Oneida's ratings withdrawn - Moody's
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Cross-Border:

The New Chapter 15 of the Bankruptcy Code: A Step Toward Erosion of National Sovereignty
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UK:

Troubled British companies contribute $805m to PPF
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Government confronts banks in IVA showdown
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Scottish Re Slumps 23% On Concern About Mortgage Exposure
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Repossessions up 30 per cent
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Is an interest-only storm brewing?
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This pandemonium will hurt us all
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Russia:

Last Yukos auction held amid mystery and controversy
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American Buys YUKOS Debt-Laden Foreign Assets
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Oil giant Yukos consigned to history
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Yukos assets sold, but to whom?
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Israel:

Heftsiba founder Mordechai Yona taken to court
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Homebuyer Heartache In The Holy Land
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Australia:

Basis seeks advice of lawyers after banks pull credit
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More mortgage pain ahead
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Rams Home Loans Fails to Refinance Debt; Shares Slump
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Credit card debt rises by $508m in June
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Canada:

Coventree Shares Soar After Finding Buyers for Debt
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