June 1, 2007

Daily Bankruptcy News

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Aviation:

Northwest Exits Bankruptcy With $2.4 Billion in Annual Savings
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Northwest will spend $500 million on service
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Northwest shares fly higher as airline leaves bankruptcy
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Northwest Airlines: As fixed as it can get?
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What do fliers want from a post-bankruptcy Northwest?
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Airlines wield power in bankruptcy's wake
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Northwest almost didn't make it
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Law:

Bankruptcy Partner Departs Saul Ewing
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Bad Lawyer Joke: BigLaw Bankruptcy Practice Leader's Wisecrack Costs Him a Client
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Partner grovels before "Happy Meal" judge
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You know what...this judge WAS a few fries shy of a Happy Meal
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Am Law 200: The Gap Widens
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Milberg Partners Talk Pleas With Prosecutors
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Milberg Weiss in Settlement Talks
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Milberg's Bershad Weighing Guilty Plea, Person Says
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In house lawyer accuses GE of discrimination
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Buchanan Ingersoll Adds Small San Diego Firm
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Pay Raises: What's Up With Williams & Connolly?
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Pay Raise Watch: Denver
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2007 UK bonus survey results
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Lawyer With Deadly TB Strain Triggers Panic
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Lawyer of the Day: Andrew Speaker . . . Not!
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'TB Andy'
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Lovells ladies in toilet shame
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Garden State Green: What Bridge-and-Tunnel Associates Make
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Thompson & Knight Drilling Into a New Biz
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They're Not Lawyers, But Firms Can't Live Without Them
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Scalia's Daughter Admits Driving Drunk With Kids
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Gidget Lewis Texas Deposition
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Malpractice Carrier Liable for Partner's Actions After Leaving an Insured Firm
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Anonymous Lawyer
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Inspector General to Probe DOJ's Hiring Practices
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Are Career Law Clerks Uniting Online?
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Defendant Blogs His Own Trial
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Corporate Reform:

Conrad Black's Defense Opens by Disputing Obstruction Charges
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Former Hollinger GC Passes the Buck in Fraud Trial
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Conrad Black's secretary comes to his defense
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Black assistant testifies about moved boxes
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Loyal aide appears confused about files
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Brocade to pay $7 mln to settle option charges
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SEC Says Former Mercury GC Falsified Records
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Utilities:

Harbinger meets with Calpine converts and shareholders to discuss equity infusion
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Jewelry:

2 Buyers Ok'd to Buy Fabrikant's Assets
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Credit Cards:

No subprime impact seen on credit card ABS
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Banking:

'Unbanked' caught in squeeze
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Insurance:

ISG looks to buy distressed U.S. insurance books
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Derivatives:

CBOT to Launch Credit Default Swap Index Futures Contracts
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The biggest winners from the global buyout boom are hiring distressed-debt bankers in Europe at the fastest pace in five years
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Autos:

Highland inks pact, seeks equity deal with Delphi
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Highland Capital considers takeover of bankrupt Delphi
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UAW says Delphi talks continue, no timeline
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UAW leader vents anew at Delphi
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Dana, Unions Want Delay of Contract Termination Ruling
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Second delay sought on Dana contract ruling
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New Chrysler gives workers a chance
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US auto industry 'is in play'
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UAW chief urges more cooperation
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Economy:

Economy Nearly Stalled in First Quarter
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Maritime:

Pacific Seacraft Files Chapter 11 Bankruptcy
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Pensions:

The End of Retirement
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Jobs, Wages, Health Care Pensions: All in Jeopardy
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Textiles:

Liquidation auction set for Joan Fabrics
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Financial Privacy:

ChoicePoint settles with 43 states, D.C. over data breach
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Retailing:

Guitar Center auction process in advanced stages
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Clearance Sale at Sears
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Sports:

Lawmakers Balk at NYRA Raises
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Student Debt:

Federal Trade Commission Opens Probe of Student-Loan Marketing
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Columbia Reaches Agreement in Loan Probe
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USC's chief of financial aid quits
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Layoffs:

Dell Lays Off 8000
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Hedge Funds:

Hedge Funds Get Big Changes at Motorola, Ceridian
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Religion:

Bishop Testifies During Diocese Bankruptcy Hearing
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Arbitration suggested to set value on lawsuits
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Spokane Catholic diocese emerging from bankruptcy
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Agriculture:

Investors race deadline to buy BY Farms
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Credit Cards:

Rent-a-card trend raises scores, fears
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Real Estate:

JPMorgan quietly climbs subprime ladder
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Auditor: Metropolitan needed 'special attention'
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HSBC to Sell Bonds Made of Subprime Mortgages From New Century
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Subprime market wrecks real estate
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Fitch Downgrades NovaStar's Subprime Product
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Is The Housing Recession Starting To Recede?
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Bustling brokers jobless after subprime collapse
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Now Come The Banks
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Summer subprime-mortgage reprieve may be 'mirage'
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FDIC Bair:Subprime Guidance To Be Final By July At The Latest
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Home foreclosures up in poor neighborhoods
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CO: Closing foreclosure door
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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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Online Claims Trading
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Auction your Chapter 11 claim to the highest bidder

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Merge, Pile on Debt, Then We'll Come to the Rescue
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Market Still Hungers for Debt
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Accounting:

Federal Judge Schedules Hearing on Dismissal of KPMG Tax Case
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Stage Set for Big KPMG Ruling
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E&Y may settle tax shelter case out of court
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Fitness:

Bally Enters Restructuring Talks
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Bally Total Fitness plans to file for bankruptcy
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Bally Fitness Enters Chapter 11
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Oil/Gas:

N.H. Senate adopts protections against bankrupt fuel oil sellers
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Attorneys For Rumford Energy Ask Court For Extension
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Health Care:

WellPoint Dismisses Finance Chief, Citing Conduct
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Hospital settles over pay criticism, jet use
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Lingle signs Kahuku Hospital bailout bill
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Timber:

Texas bankruptcy judge to visit Scotia
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Groups support Palco's bid to pay workers
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Going Concern:

FASB: Wants to give management more say in assessing whether a company is still a going concern
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"Asset Protection:"

Legal gaps help hide assets from creditors, IRS
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Poverty:

John Edwards fights for the poor very poorly
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Financial Literacy:

Financial literacy classes approved
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UK:

Warning as Eurotunnel shares rise
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Fears over helping hand for mortgage defaulters
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Insolvency industry and banks thrash out IVA fee structure
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China:

Euthanasia for companies
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China ends bankruptcy support for state firms
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Italy:

Parmalat Judge Refuses Plea Bargains
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Italease says counter-party risk on derivatives rises to 400 mln eur
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Viet Nam:

Banking boom may go bust for profit-hungry newcomers
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Russia:

BP to Lose $18 Billion Field Amid Russian Crackdown
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Canada:

Witness breaks down at Thow hearing
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Spain:

Spanish Bankruptcy Conference
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