June 25, 2007

Daily Bankruptcy News

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Aviation:

Customer service a casualty of US airline recovery
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Aloha pilot asks court to dismiss Mesa lawsuit
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JAL speeds up job cuts as it seeks debt relief
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Law:

Thelen Reid Responds to Associate Raises With Two-Tier Pay Scale
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Women Lawyers Find Own Paths as Firms Try to Keep Them
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Are Law Firms Over-Surveyed and Underwhelmed?
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$54 Million Pants
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Wii Are Kaye Scholer Summer Associates!
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The world's first publicly traded law firm ignites debate
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Pay Watch: Debevoise Joins the $70K Club
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Departures Shrink Kirkland's L.A. Office
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U.S. Firms Prepare for European Class Actions
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IT Commoditizes Everything
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Fresh-Faced Firms From Back East Come to LA to Make It as Stars
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After a Decade, Andrews Kurth Managing Partner Steps Down
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Name Dropping at BigLaw
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Update on Civil Rules Committee Proceedings
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Say What?!
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Bingham Adds Japanese Restructuring Firm
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New Director of Diversity Joins Cadwalader
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'Generation Y' May Herald a Paradigm Shift for Law Firm Culture
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Changing of the guard at Cozen O'Connor
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The lawyer who advised a bankruptcy judge that she might be "a few French fries short of a Happy Meal" has been let off easy. Or has he?
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Anonymous Lawyer
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Real Estate:

Warren: More Risk in the Mortgage Market?
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How CDOs Work
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Lease Rejection Order Did Not Include Implied Proration of Payment
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Peterson house auction draws no bidders: Simi Valley bank now owns notorious Modesto property
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Kara's bankruptcy frustrating owners
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Huge auction shows boom in housing going, going, gone
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Banks' feud threatens high-risk borrowers
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Regulators probe rate of real estate appraisals
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Homeowners at wit's end turn to hot line
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Economy:

IMF expects US economy to pick up for rest of year and into 2008
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IMF says US soft landing scenario likely amid risks
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Why Some Forecasters Warn of Recession
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Food/Drink:

Letter surfaces as 'first trace' of LeNature's woes
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LeNature plant buyer to be announced
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Bankrupt Hooters owner closes last eight locations
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Student Debt:

Congress may revive bankruptcy protection
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Furniture:

Manufacturer of Martha Stewart Tables Declares Bankruptcy
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Debt Collection:

Collecting Consumer Debt in America
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Hedge Funds:

A Senate report contends that a gaping hole in regulatory oversight let Amaranth game natural-gas prices in 2006, raising risks for rivals and costs for utilities
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Amaranth Distorted Gas Market, Evaded Regulators, Senate Finds
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Amaranth gas trades 'hit US consumers'
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Troubled Bear Stearns fund bailed out with $3.2bn loan
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Bear Stearns to the Rescue - Sort Of
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The near-meltdown of two Bear Stearns hedge funds underscored -- and aggravated -- a growing fear that hard-to-trade investments may spur a broader market retreat
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Bear Offers $3.2 Billion to Stabilize Fund
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Autos:

Dura's Business Plan Potentially Leaked
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Delphi to close, sell most plants under deal
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Delphi Cuts Base Wage To $14/Hr, To Keep Open 4 UAW Plants
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Delphi Union Ends Bid to Keep General Motors Wages
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Delphi Offering Buyouts, Severance Pay
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UAW reunion jumping with joy over pact
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Pact would slash wages at Delphi: Sacrificing pay may protect Big 3 workers
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Delphi labor deal could face some workers' skepticism
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A tough blow, a long road ahead
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Delphi-UAW deal: Sign of the future
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Gettelfinger: Big Three are 'posturing'
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UAW Chief: Strike Is An Option In Big Three Negotiations
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Hard path for Delphi workers
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Conflict Case Lashes Lear
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GM At $40?
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Wall Street banks involved in the financing for Cerberus's acquisition of Chrysler and its financial unit will start meetings with prospective investors this week aimed at raising money for the deal.
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KPMG reviewing Jaguar and Land Rover books
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Oil/Gas:

Creditors Confront Oil Company That Filed For Bankruptcy Protection
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Corporate Reform:

No sure bets as Conrad Black fraud trial nears end
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It looks good for Conrad
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Conrad may lose out to 'Joey the Clown'
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Prosecutors Press for Prison Time for Interior Official Caught Up in Abramoff Scandal
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The Next Backdating Scandal?
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Post-Enron reforms favor activists
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Mass Torts:

Future Asbestos-Related Claims Estimated To Ensure Voting Is Commensurate With Claimants' Economic Interest
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Tax:

Pre-Confirmation Sale Qualifies for State Stamp Tax Exemption
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AZ: Defunct firms' officers not liable for taxes
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Bankruptcy Crimes:

Civil rights lawyer Yagman found guilty of tax evasion
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Accounting:

U.S. prosecutors are urging a judge to dismiss indictments against a dozen former KPMG executives on charges they sold illegal tax shelters
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Tax shelter charges may be thrown out of court
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Tax-shelter lawsuit nearer trial
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KPMG Injustice
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Securitization Under Fire
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Education:

Big-Name Restructuring Consultants Greeted With Wariness
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Derivatives:

CBOT seeks share of credit derivatives boom
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Sports:

American Olympic sprinter Marion Jones is facing bankruptcy
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Layoffs:

Mass layoff stats
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Credit Cards:

Bill on Universal Default Goes to New York NY Governor
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Shipping:

S.E.C. Requests Receiver for Universal Express
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Choice of Law, Forum Selection Clauses Upheld
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Can a Debtor Reject a Terminated Executory Contract? Should the Debtor Do So?
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Vulture Funds Feed on Risky Investments
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Avoiding Forfeiture Of Estate Causes Of Action Triggered By Conversion To Chapter 7
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Preserving Firm Value Through Exit: The Case of Voluntary Liquidations
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The Missing Piece of the Puzzle: Perspectives on the Wage Priority in Bankruptcy
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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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Online Claims Trading
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Bankruptcy Week Ahead
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The corporate-default rate must rise - but when?
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Entertainment:

'Suge' Knight Mansion Up For Sale
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Enron:

Goldman Sachs to release Enron data
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Enron's "Project Truman": Unraveling a Universe of Masterful Illusions
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The CFTC's Uphill Climb and the 'Enron Loophole'
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Kelley Drye's Barry Pollack, Enron, And Getting It Done At Trial
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Health Care:

Hospitals fighting financial ills
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AMH gets OK to use accounts
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Barbed Words Over D.C. Hospital
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MGH 'like a funeral home'
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Religion:

Davenport diocese wants PI to investigate abuse
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Paper:

PT Paper amends bankruptcy court plan
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Wall Street:

Wall Street circles wagons on risky securities
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Finance:

Covenant lite
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Horse Racing:

Lawmakers reach deal on Vernon Downs
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Adelphia releases 23mn Time Warner shares in bankruptcy plan
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Court Rejects Claim of 'Implied Assumption' of Executory Contracts
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Oversecured Creditor Allowed To Collect 'Reasonable' Legal Fees
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Requirement of Good Faith Implied in Chapter 7 Filings
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Parmalat Granted Permanent US Bankruptcy Protection
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Parmalat wins injunction vs. BofA claims
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Bank Of America: Lost About $450 Million In Parmalat Collapse
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Global Restructuring Practices Continue to Converge
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UK:

Cash crisis at Viragen close to terminal stages
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Personal debt hits 10-year high
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Loan insurance mis-sellers may be living on borrowed time
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New risks posed by rising cost of borrowing
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Banks face stern test when credit cycle turns
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Cheyne Capital Fund Posts Loss on Mortgage Slump
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GE tries to sink a lifeline for wallowing Sea Containers o
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Why your card debt could last 40 years
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Graduates facing grim future
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BIS warns of Great Depression dangers from credit spree
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60,000 respond to Revenue's offshore amnesty
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Canada:

St. Marys starts shipping paper
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Russia:

PricewaterhouseCoopers withdrew its financial reports on Yukos, saying it suspects the bankrupt oil giant may have given inaccurate data, in a boost for Russian prosecutors
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Ireland:

Dublin-based hedge funds file for bankruptcy
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