June 5, 2007

Daily Bankruptcy News

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Aviation:

Airline industry 'weak' despite $5bn profit
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Nation's air carriers sag in on-time performance
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Airlines' stocks descend
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Law:

Better Than NY? Fuhgeddaboutit!: Some Summer Associates Try to Catch Their "Balance"
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Pay Raises: Steptoe Steps Up
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Pay Raises: Two New Rumors
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Pay Raise Watch: Philadelphia
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Lerach 'Retires'
(WSJ: separate paid subscription required)

The Best of Times, the Worst of Times, the Age of Bill Lerach
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Milberg Weiss Watch: Spotlight on David Bershad
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McGuireWoods, Ex-Partner Wrestle Over Lead Role in $49 Million Class Action
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Say What?!
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Lawyer ratings site not without objections
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Winstead Announces Bankruptcy Practice Group Leader
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EZ Pass: Bridge-and-Tunnel Summer Associates Getting More Greenbacks
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Rock, Scissors, Paper
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AGAG at V&E
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Rocked by Key Defections and Loss of $9 Million in Fees, Gilbert Randolph Not Dead Yet
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Howrey Stuck in Conflict Fight
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Firm Rethinks the Summer Associate "Experience" to Appeal to a New Generation
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Don't Fly With Me, Andrew Speaker
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Reed Smith snaps up Akin Gump entire restructuring group in UK
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Trial Blogging
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Will Midrange Law Firms Be Able to Fill Partner Vacancies?
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Jail Time For Paris Hilton Going Well
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California's Biggest Law Firms Receive Poor Marks for Minority Hiring
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Michigan Firm Opens Manhattan Office With Acquisition
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Lawyer gets second bite at partnership
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Firm slashes $60m costs as India base goes live
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Telecoms:

Who Got Burned in the Amp'd Flameout
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Amp'd Bankruptcy: Verizon Played Key Role In Timing
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Credit Reporting:

Safeco, Geico ruling limits credit score lawsuits
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Insurers must warn consumers about rates
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Fair Isaac tightens loophole in FICO scoring
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Mining:

US says Asarco should be fully liable for pollution costs
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EPA Showing ASARCO 'No Mercy'
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Health Care:

Sale of Samaritan Hospital to UK tentatively approved
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Lawyers hit with misconduct charges, counseled fraudulent transfer
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Autos:

Collins & Aikman's bankruptcy hearing postponed
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Dura Auto Seeks $1.3M in Bonuses
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Chrysler sale pays off big for Schrempp
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Real Estate:

CFO of US subprime lender New Century resigns
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Accredited Calls It a Day - The beginning of the end for pure-play subprime lenders
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Accredited is latest lender to be sold
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Home Builders Hit The Hill
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Meyer-Sutton Files for Chapter 11
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Sale of subprime lenders signals turnaround
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You're in luck. Your mortgage lender has flipped, sliced and diced your loan--and now no one knows who holds it
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'Piggyback' Investors at Risk
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Auction Set for a New Century Unit
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New Century sells $170 million worth of loans to fund - Less than 30 cents on the dollar
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Conditions Worsen For Summer Home Sales
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Colorado Governor Signs Foreclosure-Fighting Bills
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Napa County Foreclosures Rising
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Subprime loan terms changing to help borrowers
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Fitch considers subprime downgrade for loans whose terms are changed to help borrowers
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Fannie, Freddie May Enrich Shareholders in Subprime's Shakeout
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HUD Secretary Backs Bill To Help Homeowners
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Corporate Reform:

Black Wants Former Partner Radler to Return to Witness Stand
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Black's fate may depend on 'ostrich instruction'
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Black fails to call Donald Trump as character witness
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Maximizing 'Credit' for Corporate Cooperation
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Sen. Carl Levin is seeking to overhaul the tax treatment of stock options to rein in executive pay and boost federal revenue
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Insurance:

Ritchie, Facing Losses, Plans Bankruptcy for Insurance Holdings
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Credit Cards:

48% of Americans Are Worried about Debt
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Credit card reforms sought
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Student Debt:

Student loan programs are a rip-off
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Economy:

US April Factory Orders Rise 0.3%; Ex-Transport Rise 0.7%
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Being Poor in America
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Textiles:

Trustee Objects to Joan Fabrics Pay Plan
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Identity Theft:

While he served abroad, his credit was under siege
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The Private Equity Effect
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New Bankruptcy Opinions
(3 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

www.t-rexauctions.com

Free • Anonymous • Non-Binding

A Default Drought for the Ages
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Calling the End Of Cheap Debt
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Global insolvencies expected to rise
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Lending:

Cov-lite loans: bubble-time or a sign of maturity?
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Puerto Rico's Doral gets unsolicited takeover bid
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Utilities:

Calpine sees bankruptcy exit in Q4 or Q1
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Enron:

Ex-Enron executive Hannon gets 2-year sentence
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PGE plans sale of shares held in Enron reserve
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SEC backs $40bn Enron suit as Lerach considers quitting
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Lerach retirement won't slow Enron shareholder suit
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Judge says no to leniency request for Enron exec
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Mass Torts:

Grace asbestos case appeal
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Ohio Supreme Court scheduled to hear two cases concerning asbestos-related tort reform
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Asbestos - is the future looking brighter?
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Municipalities:

State will hold Osos to fines owed
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Predatory Lending:

Oregon Senate Slaps Limits On Vulture Lenders
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Tax:

Congress Will Push IRS to Get Tougher with Scofflaws
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Media:

Granite Broadcasting Corporation Consummates Reorganization Plan
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All American sells almost all assets
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UK:

Ex-directors accused of lying over finances of insurer
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Why one million homeowners should fear the Old Lady
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Creditors may go to court over Leeds deal
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Turkey:

Developments In Turkish Insolvency Law
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