July 3, 2007

Daily Bankruptcy News

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Aviation:

Northwest flights appear back to normal
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Northwest pilots union questions capacity cuts
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Big Six airlines fail crisis management 101
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Airlines run into more resistance on fare increases
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Law:

Chicago Market Braces for Newly Shed Partners
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Chair of Katten LA Bankruptcy Group Joins Reed Smith LA
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Jaspan Schlesinger Lawyers Leave To Start Bankruptcy Firm
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The law loses its luster
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Bush Commutes Libby's Prison Term in CIA Leak Investigation
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Judge Loses One for the Team
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2nd Circuit Re-Examines Standard for Probate Exception
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Second Circuit Discusses Probate Exception after Marshall v. Marshall
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Say What?!
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Fashion Poll: Menswear
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Ballard Spahr Names Its First General Counsel
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One Lawyer's Business Trip
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Getting the Most at Camp Big Firm
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Freshfields girds itself for age discrimination fight
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Insolvency Practices Gearing Up
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Getting a New Law Firm Client Is Nine Times More Difficult
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Food/Drink:

Parmalat must defend US class action suit
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Investors Set To Milk Parmalat Dry
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Skippers closes doors
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Bankruptcy Crimes:

Convicted attorney draws prison sentence
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Hedge Funds:

Bear Stearns plans risk controls after losses
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Fund bail-out reveals dangers of a Bear hug
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Bear Stearns Investors Learn Just How Volatile Illiquid Assets Can Be
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A colorful blog can't disguise Bear's troubles
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Hedge Funds Take On Emerging Political Role
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The Trials of Bear Stearns
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Mass Torts:

Creative Exit Strategy Possible When a Mass Tort Co-Defendant Files for Bankruptcy
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Grace legal liability put as high as $6.2 billion
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Indictment Accuses Lawyer of Paying 'Bribes and Kickbacks' in Connection With Silica Suits
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Tax:

Judge rules lobbyist can't shed tax debt
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Finance:

Signs Of A Turn In The Private Equity Buyout Market?
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Sea Change in Debt-Funded Buyouts?
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Banks that extend loans to middle-market firms will have their work cut out for them in the next 12 months
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Enron:

Math error botches Enron payouts
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Autos:

Chrysler Gets Junk Credit Ratings From Moody's, S&P
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Could Chrysler Go Bankrupt?
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Split of Chrysler financial adds jobs
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Cerberus stake in Chrysler approved
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ASC Seeks OK for Bankruptcy-Exit Loan
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Big 3 seek to shut jobs bank
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Delphi Says Deals With Other Unions Could Come By August
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Dana, unions seek delay in ruling on contracts
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Gambling:

Trump Entertainment Says Talks Ended Without Deal
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Publishing:

Goldman Family Buys Rights to OJ Book
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Academia:

Utah College Of law Lands Esteemed Bankruptcy Scholar
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Accounting:

KPMG Defendants Given Time to Prove They Lack Defense Funds
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Judge Kaplan's Dilemma: To Dismiss or Not to Dismiss?
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All's Not Right at International Rectifier
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Real Estate:

United Capital's Devaney Halts Refunds on Subprime Hedge Funds
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Equity Stripping
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CCI's plan to pay off its debts is shaky
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Lajitas Resort files bankruptcy in Midland
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Austin millionaire's border resort files for bankruptcy
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Debt buries mortgage lender
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WaMu's Subprime Layoffs
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Massachusetts Foreclosures Up 74%
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Brokerage shutdown draws probe
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The CDO-Enron Connection
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Posing as rescuers, companies prey on struggling homeowners
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Housing data may mask crisis' scope
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CO rule delays foreclosure
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Foreclosures Surge in Second Quarter
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CDO spreads widen as subprime concerns spread
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Housing bubble takes its toll - What do you get when you cross a Mafia don with a bond salesman?
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Financial Privacy:

Hooters Sued for Revealing Too Much
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Predatory Lending:

Borrowers clash on payday loans
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Agriculture:

City seeks exemption for Farmland cleanup
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Exemptions:

A look at protected assets
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Bracewell Wins Key Ruling Defining Scope of Bankruptcy Disclosure Requirements - Ruling Protects Investors' Privacy Rights
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Total bankruptcy filings soared by 66% in the first three months of this year compared to the same period one-year ago
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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:

Moore to Think About
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MediCor Files for Chapter 11 Bankruptcy
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Dimensions counters with proposal to resuscitate Prince George's hospital
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Health Care as Zero-Sum Game?
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Golf:

Running Horse deal again lands in the rough
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Credit Cards:

Late payments up for home equity loans, down for credit cards
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Fitness:

Bally to get DIP financing from Morgan Stanley
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Utilities:

Utility will resume payments
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Steel:

Massey Ordered to Pay Nearly $220M
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Corporate Reform:

Backdating spurs Marvell Tech
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UK:

Far from improving matters for insolvent companies, the new Tupe rules have just muddied the waters
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Sea Containers - The Regulator Reveals Its Reasoning
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New shares in Eurotunnel fall 43%
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As banks realize the opportunities they offer, turnaround funds are becoming an increasingly used method of insolvency
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UK's FSA set to voice concerns on subprime lending
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Insolvency expert takes over as regional chairman
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Out of the shadows
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Restructuring a company by transferring it to a different jurisdiction has its benefits, but equally it raises a number of questions
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No Distribution Of The Ring-Fenced Fund In An Administration
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Russia:

Rosneft buys Yukos's Moscow HQ
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Rosneft Leaves Analysts Puzzled With Latest Deals
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Ex-Yukos Head Sues for Transfer
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Canada:

Davie shipyard groans to life after barely dodging liquidation
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Requiem for a press club
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Czech Republic:

Judges: Speedy bankruptcy threat to firms and state
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Australia:

Rivkin accountant never asked about Swiss accounts
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