June 6, 2007

Daily Bankruptcy News

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Aviation:

Cost-cutting US airlines getting down to the bone
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Schumer criticizes Delta cutbacks, fares
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Average domestic ticket drops by 15%
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Leaders of pilots unions raise rhetoric in contract talks
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Law:

Bingham McCutchen Offers Buyouts to Some Associates
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Pay Raise Watch: Stroock, Reed Smith, Sonnenschein
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Pay Raise Watch: Seattle
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$190K?
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Summer Associates: Make a Name for Yourself
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Which practice area you pick could affect your life more than choosing a firm
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Summer Associates: A little unhappiness might be the key to your success
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Summering in a Hot Climate
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The Imus Thing and Other Reasons BigLaw Just Doesn't Get Advertising
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Lawyers Can Lie Sometimes, Bar Group Finds
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Despite Docket Drop, Justices Face Packed Homestretch
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Firm's Conflict Could Mean Bye-Bye From Big-Ticket Case
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British Firms Watch Australia's Law Firm IPOs With Interest
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Ex-Judge Gets 3 to 10 Years for Bribery, Taking Favors
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Beware the Unauthorized Practice of Law in Cyberspace
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Judge Erred in Sitting on Case With Wife as a Juror, Ethics Panel Finds
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Say What?!
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Manhattan DA Indicts Lawyer, Er, Paralegal
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Charles O'Neill Reelected as Chadbourne Managing Partner
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Lawyer altered docs in Best Buy case
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Anonymous Lawyer
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Management Is Magic for Midrange Law Firms
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Tax:

Stock Deductions Inflated by $43 Billion
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Jackson Hewitt says federal probe widens
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Telecoms:

Motorola Misled on Iridium, Creditors Tell Judge
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Deadbeat customers, Verizon Wireless' threats led to Amp'd bankruptcy
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Verizon Answers Back
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Bankrupt Amp'd Mobile owes Best Buy $8M
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What the Amp'd bankruptcy means for MVNOs
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Verizon Threatens to Cease Services to Amp'd Mobile
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Publishing:

Trustee Objects ICG/Holliston Bid Plan
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Hedge Funds:

The next big thing in litigation: hedge fund disputes
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Autos:

Collins & Aikman wants court to approve retiree-benefits deal
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Auto-plants deal not a done deal after all
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Judge OKs sale of Collins & Aikman unit to Ross
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GM Shareholders Grill Wagoner Over Share
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GM focuses on health-care costs, Delphi deal
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Wagoner: GM is not going private
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Tower Automotive creditors may vote on Cerberus buyout
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Derivatives:

CFTC Approves CME Credit Derivative Product
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Real Estate:

New Century Bankruptcy Examiner Named
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Bernanke sounds alert over housing
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Court Approves ResMAE Plan of Reorganization
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Growing inventories of unsold homes continue to weigh on the U.S. housing market, portending more downward pressure on prices, data show
(WSJ: separate paid subscription required)

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Corporate Reform:

Conrad Black Trial Into the Home Stretch
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Witness tells Black fraud trial of media mogul's lavish lifestyle
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Conrad Black's Noncompete Fees Were Fair, Witness at Trial Says
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Black judge to announce Radler decision Thursday
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Receiver to sell mineral rights owned by Ravelston
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Conrad Black's 'trial of the century' turns into muted affair
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IBM Reaches Settlement With SEC on Options Probe
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First Sarbox Whistle-Blower Loses Case
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Online Claims Trading
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Auction your Chapter 11 claim to the highest bidder

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Economy:

Warren: The Debt Divide
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Bernanke Expects Economic Rebound
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Job-cut plans inch 0.6% higher in May
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Productivity slows in first quarter while wage pressures ease
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Stocks decline after Bernanke comments
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Health Care:

Doctors' boycott of PV hospital pushes facility toward bankruptcy
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Average Family Medical Costs: $14,500/Year
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Mass Torts:

Three automakers object to Federal-Mogul reorganization plan
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Silicosis mass screenings ruled improper
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Entertainment:

Music Producer Lou Pearlman Waits for Word of Possible Charges
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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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Food/Drink:

Judge Approves Brewery's Bankruptcy Plan
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Iron City faces uphill fight as it emerges from bankruptcy
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New owners of Pittsburgh Brewing to take over July 7
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The Specialist - Fast Food Turnaround Expert
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Photography:

Court OKs Portrait Corp. Sale
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Religion:

Accused Church Head Faces Congregation
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Maritime:

No more sails for Clipper City
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Jewelry:

Fabrikant Assets Being Sold off In Chapter 11
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Mining:

Court OKs Asarco's $11.3M employee wage, bonus plan
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Corporate Governance:

Delaware Court Holds that Creditors Have No Direct Cause of Action Against Directors of Company Operating in the Zone of Insolvency for Breach of Fiduciary Duty
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Trenwalla: A Call for Rationalizing Fiduciary Duties to Creditors in Delaware
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Financial Literacy:

Bankruptcy court working to prevent credit mistakes
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Second Lien Loans and Mezzanine Financings - Useful Restructuring Tools
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The inflation-cooling effects of globalization show signs of fading, which could force central banks world-wide to raise interest rates to their highest level in years
(WSJ: separate paid subscription required)

UK:

Concern over student loan debts
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Cheap debt 'raising risk of big deal defaults'
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France:

Deutsche Bank Faces French Fine After Allegedly Wrecking Tapes
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Gecco chiefs sentenced to prison
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Russia:

Strasbourg court to examine key Yukos shareholder case soon
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Italy:

Judges rule out Deloitte asset seizure in Parmalat case
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