July 2, 2007

Daily Bankruptcy News

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Aviation:

Northwest Air Will Reduce Flights, May Hire Pilots
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Northwest says it has plan to address increased cancellations
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The disgrace of Northwest
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Airline unions showing signs of revival
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Merger mess stalls US Airways plans, savings
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Walsh tells US airlines to consolidate or die
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United's passengers share grievances, but flight staff have suffered losses
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Travelers pay for Northwest's labor 'arrogance'
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Law:

Sanctioned Firm Fights Back
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Lawyers want to quit despite pay rises
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"A Bold Move": Howrey to Pay Associates Based on Merit
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Fealty to Anachronisms
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Pay Raise Watch: Crowell & Moring - Dow Lohnes
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Practice Areas Impact Paralegal Pay
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Pro Bono 2007: Drawing the Line
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Pro Bono Starts at the Top
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Partner Returns to Embattled Gilbert Randolph Firm After Just Three Months
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Ex-NY Partner's Age Claim Against BigLaw Firm Dismissed
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Avvo Lawyer Rating Service Responds to Lawsuit and Critics
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BigLaw Flaunts It at Fashion Show
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High Court Reveals a Mind for Business
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For Liberals, the Bloom is Off the Roberts Rose
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Supreme Court Limits Judicial Power
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Bancroft trusts' lawyers key to Dow Jones sale
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Starting law salaries in London almost three times higher than outlying regions
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British Judge Criticizes Conduct of U.S. Prosecutor
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Oona O'Connell, Lawyer Model (Part 3)
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Hedge Funds:

Bear Stearns Hires Lehman's Lane as Head of Fund Unit
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Bear Stearns hedge-fund investors must wait until as late as July 16 to learn their losses because of the difficulty in valuing thinly traded securities
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Food/Drink:

Skipper's restaurant chain dissolved by bankruptcy
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Le-Nature's granted reprieve
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LeNature's trustee, Giant Eagle reach $20M deal for plant
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Ponzi:

Lavish lifestyle financed by Ponzi scheme millions
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Golf:

Negotiations Between Running Horse Developers And Donald Trump Heat Up
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Finance:

Lenders balk at buyouts that promise 'pay-in-kind'
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Accounting:

PCAOB report critical of Grant Thornton
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Grant Thornton Fires Back at PCAOB Criticism
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Forensic accounting tackles corporate crime
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Average young adult already has debts of about $20,000
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Autos:

Suppliers look at Delphi as new path
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Talks likely to reshape industry
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Firm seeks $20 billion for Chrysler deal
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Delphi pact inspires relief, sadness
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UAW OKs Delphi pact 68 percent-32 percent
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Delphi, GM Slate Plants for Closure and Sale
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Bankruptcy Court Sides with Dana
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Collins & Aikman's sale of eight plants to Cadence Innovation may be in jeopardy
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Dana's ex-legal chief lacked authorization to practice law
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Real Estate:

Regulators Tighten Subprime-Lending Rules
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Lenders pressed to heed borrowers' ability to pay
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The up side of a down market
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Private equity's heyday fades
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Kara sells property to satisfy bank debt
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S&P/Case-Shiller Shows Housing Continues To Worsen
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Bear Stearns Meets Possums in Georgia as Foreclosures Increase
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Developer Nordyke Ventures files for Chapter 11
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Wary investors peek over the hedge
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Secondary debt hedge funds could impact on world economy
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Alt-A Loan Defaults Yet To Peak
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Builders Have Further to Fall
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U.S. finance firms are finding themselves major real estate owners as foreclosures mount
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Subprime woes spark active trade in bank CDS -GFI
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Religion:

Judge sets bankruptcy settlement deadline
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Davenport Diocese seeks review of insurance policies
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Corporate Reform:

Conrad Black's legal fights far from over
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Black Case Comes Down to Troves of Docs
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Black's lack of Cdn citizenship could keep him out of 'Club Fed' if convicted
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Siegelman-Scrushy case: How the mighty have fallen
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Prosecutor Gives Former Brocade CEO's Defense an Opening
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Investors angry as Supreme Court refuses help
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Westar must pay former executive's legal fees
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Retailing:

Tweeter seeks approval for bonus plan
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Hancock, accounting firm both slipped up
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Hancock Fabrics to abandon property in 71 stores
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Environmental:

EPA Seeks Nearly $1B From Bankrupt Firm
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Insurance:

The 3rd Circuit tackles settlements that leave clients wanting, insurers burning
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Bankruptcies back on the rise
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Court to celebrate judge, former bankruptcy referee turning 100
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The Unconstitutionality of 11 U.S.C. 522(p)
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Trustee Wants to End Liberty Cigarettes
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Bear Stearns Dismembers U.S. Treasury Bear Market
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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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Conn. Bar Association Backs Attorney's Bankruptcy Law Challenge
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Health Care:

AMH disputes $1.5M payment
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Prince George's Hospital threatens lawsuit if county funds dry up
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Pr. George's Hospital system shutdown may be 'devastating'
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Bankruptcy Crimes:

Judge Demands Answers About Lawyer's Juror Contact in Civil Rights Attorney's Trial
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No one is above the law
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Economy:

Economic growth is likely to recover but could fuel inflation, according to a Wall Street Journal survey of economists
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Celebrity:

Where Did Pearlman's Millions Go?
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Pensions:

GAO: Adviser Conflict May Slash Pensions
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Tax:

International group set up to target tax haven abuse
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Court: Turn over gun cache
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Bawag's $140M Refco Settlement OKed
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Conseco litigation to cost $35 million more
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A recent bankruptcy study has found being overextended on credit is the main reason for consumer bankruptcies and that women are financially struggling at greater rates then their male counterparts
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UK:

'How we won fight to save Eurotunnel'
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Appealing to the pensions referee
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City turns off loans tap
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Are debt markets living on borrowed time?
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Canada:

You know things are good when bankruptcy business is bad
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Australia:

'Flexibility': fire the old, rehire at lower wages
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Credit crash fears surround debt whirlpool
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Boom times, bad times
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Spain:

Dario Silva arrested for fraudulent bankruptcy in Sevilla
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Ireland:

Flynn given date for RTE settlement
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Japan:

Credit card society
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New Zealand:

Bridgecorp placed in receivership
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Bridgecorp collapse bad news for investors
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