February 1, 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
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Aviation:

US Airways Withdraws Bid for Delta
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Delta decision ends consolidation dream
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Delta lands a well-deserved victory
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Delta's crafty CEO outflies US Airways
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Creditors back Delta; US Airways ends hostile bid
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Regulatory angle seems to have worked for Delta
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Delta Air Lines Creditor Group Disappointed by Decision of Official Creditors' Committee to Support Standalone Plan
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Delta employees welcome news that takeover bid is off
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Delta's Still In Play
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Will US Airways seek a new target?
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No deal again at Comair
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Italy Wants Plans For Alitalia By March
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PBGC, Northwest Agree to $14M Deal
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US Airways will be back
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Comair, pilots near decision
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AirTran to Nominate Directors for Midwest Air
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Talk of airline consolidation quiets down
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Malev buyer to take over debt
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Bain Co Named Industrial Adviser For Alitalia Sale
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Law:

WilmerHale, Steptoe & Johnson the Next to Raise First-Year Pay in D.C.
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Cahill Matches
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WilmerHale Matches
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Kirkpatrick & Lockhart Preston Gates Ellis Names New Bankruptcy Partner
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Thacher Proffitt Mexican Bankruptcy Partner Elected President of the Mexican Bar Association
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Sonnenschein's Growth Plan: Cherry-Picking Laterals
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T&E Departures at Profit-Minded Sonnenschein
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Say What?!
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Seventh Circuit Determines that Complaint was Timely Filed, Even Though It Was Rejected By Electronic Filing System
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Anonymous Lawyer
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Flying the Friendly, Federal Judicial Skies
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Charla Aldous Sues Baron & Budd Over Compensation
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Clifford Chance set to create new career path in fresh work/life push
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Former Lead Plaintiff's Guilty Plea May Spell Trouble for Lawyer Lerach
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New Blow to a Law Firm Under Inquiry
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Acrimony over Bird & Bird US client split
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Sonsini Advised on Apple Options
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Kelly, Hart & Hallman to Open Houston Office
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Fla. Bar Investigates Lawyers in Hamilton Bank Case
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Firm's partners to cough up for pension fund shortfall
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What Solos Earn
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Ferraro to Join Blank Rome Lobbying Firm
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Midsized Eastern Firms Get Aggressive in LA
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More Law Profs Moonlighting at Firms
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As BigLaw Boosts Pay, Smaller Firms Try Other Tactics to Woo Associates
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Caremark's Sage Counsel - The company's top lawyer is leaving with a windfall
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Banking:

FDIC extends nonfinancial banking halt
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Internet venture brings borrowers, lenders together
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Timber:

Pacific Lumber Co. problems hit hard in Scotia and Houston
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Autos:

Delphi expects talks with GM, unions into February
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Delphi Corp. loses $5.12 billion in 2006
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GM, Ford reputations take a hit
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Ford's January auto sales down, but optimism high
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Collins & Aikman Announces Resignation of President/CEO Frank Macher
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Bring it on
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Delphi plant sale nearer - California investment group is favored bidder
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Economy:

Fed Keeps Rate at 5.25%, Sees Improving Economy
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Fed chief bets credibility will buy him time in inflation battle
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Bush gives 'State of the Economy' speech
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Economy perks up and grows at a 3.5 percent rate
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Despite upbeat economy, some still worry
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Agriculture:

Bush plan backs revenue protection for US farmers
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Bankruptcy Crimes:

Woman indicted for forging bankruptcy judge's signature
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Pontious-Peel loses battles
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Student Debt:

Cuomo Investigates Colleges and Ties to Student Lenders
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How can collegians shoulder their debt?
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Are student-loan creditors sucking the blood of freshly minted college grads?
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Enron:

Judge dismisses Enron broadband convictions
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Textiles:

Creditors balk at Malden Mills payout
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Municipalities:

Moffett files bankruptcy
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Layoffs:

US Jan Job Cuts 62,975, Up 15.2% From Dec
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Bank of Montreal Cuts 1000 Jobs
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How To Prepare In Case Your Job Is The Next To Go
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Senior Debt:

Seniors turn to credit to fill gaps
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Tax:

Senators Demand Answers From IRS On US Tax Gap
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Mass Torts:

Hardie finally puts $184m asbestos fund to a vote
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Asbestos causes 2nd loss in 2 years at Owens-Illinois
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Deep pockets: Simonetta v. Viad Corporation
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Telecoms:

Wireless phone provider files for bankruptcy
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Guitar Center Receives Bankruptcy Court Approval to Acquire Substantially All the Assets of The Woodwind & The Brasswind
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St. James Credit Company official acknowledges financial problems
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Weston Nurseries' future could be decided today
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Home Products OKd to Pitch Creditors
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Publicity for Max Gardner's Bankruptcy Boot Camp Continues to Grow
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New Bankruptcy Opinions
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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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Corporate Reform:

Bush takes aim at executive salaries
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Bush backed business demands to pare post-Enron reforms
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Former CFO plugs in details in HomeGold case
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Sheppard's no rube, legal expert testifies
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Former Cendant exec loses appeal
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Future of Dynegy accountant Olis remains uncertain
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2 Suprema ex-executives on trial say mob did it
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Publishing:

New York Times reports 4Q loss of $648M
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Health Care:

Kessler bankruptcy, buyer plans moving forward
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Doctors plan gets varied feedback
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Hospital's dialysis center nears foreclosure
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Bankruptcy Reform:

NJ senator joins Superfund bill
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Bankruptcy Code Amendments Impose New Requirements for Reaffirmation Agreements
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Predatory Lending:

Legislative Foes Shackle Payday Loans
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Publishing:

Bankrupt book wholesaler considers 3 offers
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Real Estate:

Company closes, draws investigation
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Credit Cards:

Profit margins on credit cards can reach 65%
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Tennessee judge freezes assets of Michigan cemetery owner
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New Orleans Black Businesses and Middle Class Cite Neglect From Govt. & Corporate America - Bankruptcies At All Time HIgh
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SEC Seeks to Foster Competition for Credit-Raters
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Solutia seeks more time to file Chapter 11 reorganization plan
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UK:

20% Consider Insolvency
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Heads roll as Torex inquiry gathers pace
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Police raid homes in Torex fraud case
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Torex Retail who's who
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U.K. Leisure Company Administrations Increase 50%
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Accuma reveals extent of problems
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Further rise predicted in UK interest rates
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UK Cos In Administration Up 26% In 2006
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'Live for today' Britons plunging into debt
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Canada:

GCO Files its Default Status Report and Announces the Filing of a Proposal to its Creditors
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Italy:

Parmalat Scandal Cases Won't Be Combined
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Russia:

Kharkov Aviation Plant on the Verge of Bankruptcy
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Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C.  You can reach us at 281-242-6208 or at accounting@bkinformation.com