January 26, 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:

Los Angeles Objects to Delta Plan
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LA, Denver, object to disclosure statement to Delta
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Midwest to AirTran: No thanks, again
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Senators Urge DoJ To Take Thorough Look At Airline Mergers
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Delta Bonds Down As Merger, Buyout Appear Less Likely
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US Air, Delta CEOs Dispute Merger Impact
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Senate Hearing on Airline Mergers Highlights Delta Issues
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Midwest Air board urges rejection of AirTran bid
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Law:

One Left-Coast Firm Matches Associate Pay Hike, Others Hedge
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Washington Catches the Associate-Raise Fever
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Law Firm Bonuses Flat in '06
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More Firms Hike Pay for NY Associates
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The King & Spalding Memo
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The Hogan & Hartson Memo
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The Proskauer Rose Memo
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The Davis Polk Memo
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Clifford Chance's US associates get pay rise; Brits will have to wait
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Katrina Suit May Net Lawyers Up to $46 Million
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Law firm IPOs: It's Happening Sooner Than You Think
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Sonnenschein launches in Silicon Valley
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Firms Across the Hudson Are Among Most "Leveraged" in US
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Anonymous Lawyer
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Charging Rates?
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Say What?!
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Holland & Knight Surprised by Low Marks From Associates
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Clifford Chance partner embroiled in shredding row
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When it comes to marketing, some lawyers find unslick is the trick
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Chicago law firm to merge with Cleveland firm
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Litigator Cites Kaye Scholer's Commitment to Community as a Reason for Move
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Better Hours In-House? Maybe Not
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Corporate Reform:

HomeGold: Judge limits scope of victims' testimony
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HomeGold: Witness says Sheppard unconcerned about investors
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Democrats Make Another Try to Curb Executive Pay:
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Judge Rules Against Former H-P Executive
(WSJ: separate paid subscription required)

Shareholders Closer to Winning the Battle to Take Part in Director Election Procedures
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KB Home said the SEC has begun a formal investigation into the home builder's stock-option grants
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Cox: Backdating crackdown is working
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Voting, Pay Top Shareholder Agendas
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McNulty Memo on Attorney-Client Privilege Blasted for Lack of Change
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Real Estate:

Existing home sales plunge in 2006
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Subprime Loans Soared In Boom, But Are Now Creating Problems
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Congress may push for loan `suitability'
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Dissident group drops request for freeze in USA Capital case
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Drop in Existing-Home Sales For 2006 Is Sharpest in 24 Years
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Rising Rates Swamp Homeowners; Banks Respond
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Home Sales Figures Signal a Slowing Market
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Tremors at the Door
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Homebuilder built and broke dreams of families
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Trustee: Sen. Clinton's brother owes debts to carnival operators
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Autos:

Ford may offer some performance bonuses
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One bonus plan for all employees is bold move
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Here's why things could get even worse for Ford
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The Record Year Ford Hopes to Shake Off
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Delphi talks with GM, UAW could go beyond Jan 31
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Collins & Aikman bankruptcy hearing set for April
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Wall Street hasn't made up its mind on Ford
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Amcast Wins OK for Liquidation Plan
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GM expects lower January sales this year in U.S.
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U.S. auto makers may need to take more-drastic action to turn themselves around
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GM expects a profit on record revenue but delayed reporting as it adjusts past results
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Ford risks losing buyers, and even its own dealers
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Ford without a road map this time
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Unions:

Union membership falls to 12 percent
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Utilities:

Two plans to be put before ENO creditors
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Entergy New Orleans, Unsecured Creditors To Submit Plans
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Calpine Canada Court Deadline Extended
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Accounting:

KPMG placed on state probation in tax-shelter case
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Backdating Spears Trident
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Brothers claim accountants PWC lied about firm's finances
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Textiles:

Malden Mills' suitors don't inspire hope
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Economy:

The Fed is likely to reaffirm its "bias" toward raising rates when it meets next week
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Current times are shaping up to look eerily like 1994
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Bankruptcy Reform:

The Myth of The Rational Borrower -- Pt. III
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Mass Torts:

Lawyer of the Day: Christopher Andreas - "For an officer of the court to show such lack of respect is shocking"
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Media:

Court Ruling Keeps Adelphia Bondholders In Bankruptcy Limbo
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Predatory Lending:

A predatory loan is a predatory loan
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Timber:

From Houston to Port Louis
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Mining:

Glencore, Partner File to Buy Asarco
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Buffalo Coal and United Energy creditors push bankruptcy plan
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Health Care:

Health Care Businesses and the New Bankruptcy Law
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Banking:

FDIC May Extend Halt on Retail Banks
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Probe into cemetery owner takes new turn
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Cemetery seller's account frozen
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Solutia Completes Extension and Upsizing of Debtor-In-Possession Financing at Reduced Interest Rate
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New Bankruptcy Opinions
(3 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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Quadrangle's Rattner Warns Debt Investors on Risks
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Religion:

Diocese settlement flawed, some victims say
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Retailing:

Cupolos Sports is bankrupt.
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Publishing:

S&S Loses Bid as Lead AMS Creditor
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Credit Cards:

Warren: The Words for Today: Tricks and Traps
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30 Pages of Tricks and Traps
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Credit card companies targeted
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Congress challenges credit card firms
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Card lenders hope to stem bad debt
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Banks to press retailers on data security
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Credit Cards in Focus -- "a dramatic shift for the credit-card industry"
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Tax:

House, Senate bills would stop IRS use of private tax collectors
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Tax Gap Called Foremost Concern For IRS
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Enron:

Vinson & Elkins Dismissed From Enron Shareholders' Suit
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Criminally Negligent Securities Fraud?
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Hedge Funds:

How a Hedge-Fund Mogul Disrupted a Bank
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Hedge funds are borrowing shares to swing the outcomes of company votes, a move that regulators say may subvert shareholder voting
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Furniture:

Alan White closing Upholstery maker will liquidate
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Asset Protection:

Asset Protection Planning -- An Overview
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Potential buyer for Specialty Filaments surfaces
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Bankruptcy: The Opportunity to Fail
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Junk Bonds are Overvalued, NYU's Edward Altman Says - Defaults to Triple
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Werner Co. Affirms Strong Liquidity Position and Support of DIP Lender
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UK:

Music Zone workers to lose jobs
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ECJ Rules That Full Protection Of Pension Benefits On Insolvency Not Required
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EU Court Rules UK Pension Guarantee Funds Are Insufficient
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EU pension ruling could result in £15bn bill
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Loan shark scheme set to go national
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Lawmakers Target Rising Credit Penalties
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Italy:

Parma takeover confirmed
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EU:

Germany Must Take Back EUR5.2 Million In Aid From Bike Maker
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Australia:

Two top lawyers have been honored for their work in reforming the law and dealing with the fallout from corporate collapses
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