July 27, 2007

Daily Bankruptcy News

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Law:

BigLaw Firm Eyes Yet Another Merger
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Upset of Some Attorney Advertising Rules Could Signal Return of 'Heavy Hitters'
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Associates Close Up
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Pay Raise Watch: Baker & McKenzie
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Feldsuk, Disrespected? Oy Vey!
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Bankruptcy lawyers open boutique office for debtors
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Firms are playing with fire as they continue to push leverage
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ME-Mails
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X-Summers: Shearman & Slur-Man
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Lawyers who make the smaller bucks
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Lawyers prefer work to vacation
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9th Circuit Judges Still Wary of Splitting Court
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Firm Faces Climate Change With Loss of Key Rainmakers, Liability Storm Clouds
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Ex-Partner Presses Discrimination Suit Against BigLaw Firm
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NY Firm and Prosecutors Break Off Talks, Prepare for Courtroom Showdown
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Say What?!
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Vick Drafts High-Profile Team as Proceedings Begin in Dogfighting Case
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No Hearsay in Electronically Generated Information
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Tightest Law Firm Award
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FBI Director Contradicts Attorney General as Democrats Widen Probe
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4 Dems Seek Alleged AG Perjury Probe
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Bar Exam Film Ups Ante for 6 Law Grads
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Economy:

The U.S. economy resurged in the second quarter as GDP grew 3.4% amid a lessening drag from housing, rising inventories and higher exports
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Market Slides on Housing and Oil Worries
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Plenty of Blame to Go Around
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Where's the Bottom?
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Wall Street worries about credit crunch
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Fed Says Expansion Is Hampered by Increasing Costs
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Unexpected drop in durables orders ex-transportation has economy's continued expansion in doubt
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Fed rate cut again being priced in by futures market
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Distress ratio climbs, signaling more defaults possible
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Bankruptcy Crimes:

Detective indicted on fraud charges
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Derivatives:

Banks burnt by credit meltdown
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Credit swaps show rising bond risk for Goldman Sachs, Bear Stearns, others
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Banking:

Banks left with $22bn debt as crunch deepens
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OCC One-Stop Complaint Filing
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Insurance:

When Jurisdictions Collide: Determining Judicial Roles When Bankruptcy Court and Insurance Receivership Court Responsibilities Overlap
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Food/Drink:

Pittsburgh Brewing's would-be buyer needs more time
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Judge rules against US Parmalat case
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Judge rules against BIOTA
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BIOTA CEO responds to latest court ruling
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New Menu of Troubles at Landry's
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Religion:

Parishioners want their voices heard
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Group seeks to intervene in diocese bankruptcy
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'Going out of business' is good for business
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Autos:

Dana Judge approves bankruptcy financing deal
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U.S. judge backs Dana labor union pacts
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Chrysler Deal in a Struggle for Financing
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Chrysler Offers Lifetime Powertrain Warranty
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Ford Posts First Profit In Quarter In 2 Years
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Ford shocks with profit but losses lie ahead
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Carmakers Need National Health Care
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The UAW's Health-Care Dreams
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Hedge Funds:

Amaranth, Energy Transfer Face $458 Million Penalties
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Retailing:

---- star allegations add twist to Ronco bankruptcy
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Credit Cards:

Credit-Line Decreases Catch Consumers Unaware
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Food/Drink:

Delay in takeover for new Pittsburgh Brewing owners
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Telecoms:

Boston Communications facing big blow from Amp'd Mobile closure
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Refco:

MBRM faces action over Refco debt 'cover-up'
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A Big Backer Of Refco Sues
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Publishing:

The Battle Continues Over O.J. Simpson's Book
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Accounting:

Retrial Ordered in Nine-Figure E&Y Fraud Case
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Former Parmalat auditors escape charges
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Mass Torts:

WR Grace suffers setback in court, loses exclusivity
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Judge Tries To End WR Grace Stalemate
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Armstrong buyers get cold feet
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Federal Mogul bankruptcy ending will find echo in India
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Utilities:

Rumford Energy can't cover debts
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Entertainment:

Creditor seeks to seize rides at bankrupt Wild West World
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Predatory Lending:

Record $50k Fine for Payday Lender in Nevada
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UST:

Possible Slash in U.S. Trustee Funding
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Tax:

House Moves to Eliminate IRS Tax Debt Collection Program
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Layoffs:

How a Blackstone Deal Shook Up a Work Force
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Aviation:

Auction for planes sputters badly (scroll down)
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Spa Operator Klinger Files for Chpt 11
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Global Corporate Bond Risk Soars as Investors Seek Safety
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Florida Bankruptcy Court Considers The Supreme Court's Travelers Decision And Refuses To Allow Post-Petition Attorney's Fees To An Unsecured Creditor
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Criteria for Selecting Restructuring Strategies for Distressed or Declining Enterprises
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Disinfecting Consumer Arbitration
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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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Health Care:

Warren: Denying the Truth about Medical Bankruptcies
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Lawless: Full Disclosure
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Court gives Dimensions partial victory in funding dispute
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Altoona Regional will not pursue integration options with Tyrone
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Point Therapeutics Announces Further Management Reductions, Bankruptcy Possible
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Cardinal Health pays $35 million for earnings management misstep
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Amoroso is appointed president of St. Vincent's Medical Centers
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Environmental:

Alper files for Ch. 11
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Marcal Paper Mills, Inc. Settles Claim With Environmental Protection Agency
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Corporate Reform:

NY Lawyer to Lead Conrad Black's Appeal
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Forceful Finish in Brocade CEO Options Backdating Trial
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White-Collar Defendants' Attempts to Flee Justice Rarely Work
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Strong Support for Privilege Bill
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Bankruptcy Statistics:

Colo. business bankruptcies soar in first half
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Manufacturing:

Rockford Products gets OK to borrow $3M
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Real Estate:

SEC lets banks mask mortgage woes
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"Countrywide" Mortgage Delinquencies
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The Worst Is Yet to Come
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Subprime crisis may go global
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U.S. Probes Several Mortgage Lenders
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Orlando CityPlace to file for Ch. 11 protection
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Developer of Round in default on loan
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Big home builders take whopping charges on inventory write-downs
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Housing Meltdown Costing Jobs
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IndyMac bank lays off 400 workers
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Private equity steps in to take subprime unit off investment bank's hands
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Wells Fargo to Limit Subprime Lending
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Company at center of blight problem agrees to file for bankruptcy
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Bank's offer to CCI customers is truly taxing
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Housing market mired in slump
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UK:

Subprime coming home to roost?
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Debt fears delay Cadbury's £7bn US drinks deal
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Office of Fair Trading takes banks to High Court over 'unfair' overdraft fees:
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FTSE dives on credit woes and results
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Mortgage fraud involving solicitors is on the increase
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Canada:

Toronto on the verge of bankruptcy
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Russia:

Yukos receiver asks for bankruptcy proceedings to be extended by 6 mths
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