December 11, 2007

Daily Bankruptcy News

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Law:

Large Firms' Billing Rates Continue to Climb
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Clients balk as US elite hike rates 8% in '07
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Shareholder Law Firm Sets Up Subprime Legal Team
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O'Melveny Denies Bonus Rumor ... For Now
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Bonus Watch: O'Melveny & Myers, Not So Special?
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Parsing Partner Pronouncements: 'Inaccurate' or 'Not Accurate' ≠ 'False'
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Air Scruggs to Stay Grounded
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Feds Search Offices of Scruggs's Attorney
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The Mess In Mississippi: The Joe Biden Connection
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10 Survival Tips for New Associates
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Biglaw Does Everything Bigger -- Malpractice Is No Exception
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Indicted McAfee GC Wants Discovery From Howrey
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Former GC Claims He Was Cheated Out of $9.2M After Merger
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Manic Monday For Federal Sentencing Groupies
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Electronic Discovery in Europe: A Different Story
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Motley Rice Shutters Atlanta Office
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BigLaw Partner's Epiphany: It's OK to Have a Life
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Son's New Job on Federal Bench Could Leave Dad Out of Work
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Jurors to begin deliberations in trial of Mary Roberts
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Judge Talks Himself into Trouble
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Say What?!
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Most firms have raided rival in last two years
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Student Debt:

Harvard Targets Middle Class With Student Cost Cuts
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Banking:

UBS to Sell Stakes After $10 Billion in Writedowns
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UBS writes down $10 billion in subprimes, will there be more?
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Warren: SEIU Takes On Bank of America
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Credit Crunch Reshapes Map of Banking Power
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BofA Closing $12B Fund
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Why Citi May Need a Merger
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SIVs Shrink, Easing Concerns About Fire-Sale, Rescue
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Citigroup cuts SIV size by $15 bln
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Wave of Bank Failures is Coming
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Saving Banks: How the Mortgage Bailout Strains Accounting
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US electronic payments outnumber checks 2 to 1
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WaMu to Cut Dividend, Jobs
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Washington Mutual Will Take $1.6 Billion Writedown (Update1)
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Autos:

Dura Ch. 11 exit hearing delayed
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Dura asks for bankruptcy extension
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John Chezik dealerships to liquidate; bankruptcy follows $8.4 million verdict
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US Auto-Parts Cos Attracting Investors
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Ford shrinks long-term outlook
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Delphi Agrees to Sell Steering Business
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Theme Parks:

Judge rules Wild West World auctions can proceed
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Fraud:

T. Boone Pickens' son gets probation in fraud case
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Bankruptcy Crimes:

Couple found guilty in bankruptcy fraud case
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Asset Protection:

Judge Helped Spouse Shield Assets
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Real Estate:

US pending home sales unexpectedly rise
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Lining up for the mortgage rescue plan
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Freddie Mac Moves to Ease Capital Strain
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Fannie, Freddie Buying Fewer Bad Loans
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Fannie Adds More Fees on Loans -- Even for Home Buyers
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Rise looming in home down payments, loan rates
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Senate Will Consider More Restrictive Rules on Mortgages
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Subprime mortgage fix doesn't address the cause
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Mortgage deal an insult to fiscally responsible
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Novastar receives waiver from Wachovia
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Housing Hammers Restoration Hardware
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Lexington builder Angelucci files for bankruptcy
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Atlanta foreclosure notices up 29% from last year
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The Myth That Lending Rates Rise in Response to Policies
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Mortgage crisis rivals S&L meltdown
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Hawaii builder's woes put halt to 132 homes
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Transland facing probe over handling of finances
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$1 Billion Sought In Subprime Mortgage Mess
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Subprime Mortgage Meltdown Continues
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Homeowners' equity fading away
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Corporate Reform:

Black's Judge Says Prison Range Is 6.5 to 8.1 Years
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Future dark for ex-baron's fallen empire
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Black sentenced to 78 months
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Is Backdating the Corporate Crime Lottery At Its Finest?
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McGuire option backdating drama not over
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Key Witness Against Brocade CEO Is Balking
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Prosecutors zero in on Black's fortunes
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SEC commissioner urges eleventh-hour SarbOx reprieve for small companies
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The Battle over Waiver of the Attorney-Client Privilege
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Bankruptcy Reform:

Barney Frank's Opposition: It's Not Hank Paulson
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Implementation of Reform Act's Debt Reaffirmation Agreement Provisions
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Oil/Gas:

Monitor Oil to Tap $5M Ch 11 Loan
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Finance:

MBIA Gets $1 Billion From Warburg Pincus, Sees Losses
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MBIA moves put pressure on rival bond insurers
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Fortis Cuts Jobs at New York Structured Credit Team
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Cosmetics:

Perelman to Revlon Rescue Again?
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Politics:

Housing Crisis Clarifies Partisan Divide
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Film Reviews:

As Congress Debates Tax Reform to Close Loop Holes for the Wealthiest; Brave New Film's 'War on Greed' to Be Screened
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Tax:

US Supreme Court to Rule on Whether Code Section 1146's Transfer Tax Exemption May Ever Apply to Pre-Confirmation 363 Sales
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Intellectual Property:

Avoiding the Pitfalls of Bankruptcy by IP Licensees
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Corporate Governance:

Tips for Boards of Directors for 2008
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Credit Cards:

Recession Risks, Card Losses Expected to Rise
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New Bankruptcy Opinions
(1 new opinion 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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NEW
Claim Trading Alerts
The easy way to monitor
bankruptcy claims trading
30-Day Free Trial

Bankruptcy Data:

Data-Loaded Court Forms Raise Privacy Issue
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Bankruptcy Statistics:

Business bankruptcies on the Decline
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Health Care:

Experts pick apart Bill Clinton's medical bankruptcy comment
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Big Disability Backlogs Can Mean Financial Ruin, Despondency
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Kessler Hospital appears fit to emerge from bankruptcy
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Chemists Face Layoffs as Industry Struggles
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Hospital plans in jeopardy
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Bankrupt Brownsville hospital seeks $1.2M
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Wall Street:

Wall St stocks rise ahead of Fed meeting
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Wall Street's Ugly Year
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New Merrill CFO gets signing bonus and then some
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Hedge Funds:

Amaranth: Financial Industry Coalition Urges Federal Appeals Court to Preserve CFTC Exclusive Jurisdiction
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Horse Racing:

Bruno blasts Spitzer and NYRA over future of racing
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Economy:

Economists Get Gloomier
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Morgan Stanley Now Predicts A Recession For U.S. Economy
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US Employers Trim First-Quarter Hiring Plans
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Odds seem to favor rate cut
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Consumer Spending Grew 2.25% in October
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Accounting:

PCAOB disciplines Deloitte in first such action against a Big Four auditor
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Deloitte Agrees to Pay $1 Million Fine
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Sovereign Debt:

'Vulture' lawsuits hurt poor but expose corruption - Investors buy debt from 'rich' nations, then sue for millions
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UK:

City workers say N. Rock hits confidence in FSA
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Rock investor delivers profit warning
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Mortgage affordability hits 15-year low
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First-time mortgage repayments hit 16-year high
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Farepak victims yet to be paid
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Consumer pain looms with banks to hike credit cost
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Happy ending to Decade of Debt is a delusion
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IVAs set to soar
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Low-income families stung by doorstep loans with 200% APR
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China:

$2 Billion Chinese Bankruptcy Scandal
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New Zealand:

Enron lessons unheeded in New Zealand
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