March 9, 2007 

Daily Bankruptcy News

Brought to you by BKINFORMATION.COM - The Source for Bankruptcy News on the Internet 

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Aviation:

Delta offers details of post-bankruptcy employee benefits
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AirTran extends offer for Midwest
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Judge delays decision on pay cuts for NWA flight attendants
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Swiss hope for closure as trial into collapse of Swissair wraps up
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Law:

A Lawyer Finds He Can Go Home Again
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Why Women Leave the Law
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Top Law Firms May Face Rough Future
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Boston Firms Split on How to Respond to N.Y. Pay Hikes
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The Dirty (Half) Dozen?
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Lawyer of the Day: Alison Maynard
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Goldman hires leading London bankruptcy lawyer
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Cadwalader City chief Wilkinson quits for Goldman
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Cadwalader's very predictable succession problem
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Unusual Program Helps Lawyers Brace for Re-Entry Into Workforce
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Mike Oxley, Corporate Governance Lawyer: Yea or Nay?
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Legal Industry Overview - 2006
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Which Plaintiffs' Firms Hit It Big in 2006?
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Eric Krautheimer Is Busy as a Bee
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The revolving door of lawyers moving between Washington's K Street and Capitol Hill is spinning fast
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Administration Agrees to Change Law on Replacing Fired Prosecutors
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Gunning for Success
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Law firm to list on stock exchange
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Drinker Biddle's Revenue Goes Up 10 Percent
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Top NY Firm Hires Record Batch of Left-Coast Summer Associates
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Dewey's Italian plans hit by team exit
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Say What?!
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Another Firm Boosts Associates' Starting Salary
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Sad
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Don't Compete on Price, It's a Loser
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Calif. law firm opens Denver office
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A virtual visit to a virtual law office
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'Attorney Man' Teaches Truth, Justice and the Marketing Way
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Timber:

Body of Christ
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PALCO firm on Texas venue
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Palco hearing focuses on Texas subsidiary
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Derivatives:

Merc to offer futures on credit-default index
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Accounting:

Study: CEO, Outsiders Lead Financial Statement Fraud
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"Deep, Deep Sh[--]" at Gateway
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With only four major firms left in the business, are there too few to let any fail?
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Corporate Reform:

Top Execs Charged With Stock Fraud in Alleged $182M Backdating Cover-Up
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Another Skirmish in the Privilege Wars
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Some Lawyers Urge More Safeguards on Rights in Corporate Fraud Cases
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Conrad Black Must Overcome Ex-Friends, Own Image to Avoid Jail
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The Prosecutorial Quartet Taking On Conrad Black
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Conrad Black's jury may hear unrelated conspirator statements
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Justice, SEC questioned on pace of probes
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Are Noncompetes the New SOX?
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Bankruptcy Reform:

Put workers first Lehman says: Legislation would amend rules for companies in bankruptcy
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Bankruptcy Crimes:

Fighting Bankruptcy abuse
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Bankruptcy Software Cited for Unauthorized Law Practice
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Amtrol files Ch. 11 reorganization plan
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Amid Buyout Boom, Greenhill May Have Bankruptcy Business on the Brain
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Anchor Hocking headed for auction block
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Autos:

Laid off Michigan auto workers contemplate future
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Investor backs out of deal to buy parts supplier Pine River
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Ford to Pay Bonuses in US, Canada After Record Loss
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Chrysler gets new bid prospect
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Economy:

US Initial Jobless Claims Fell 10000 Last Week to 328000
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Recession talk doesn't scare U.S. restaurants
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Stock swoon makes people feel less secure financially
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Net Worth of U.S. Households Skyrockets
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We can't stand the thought that the party could end
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Credit Cards:

US banks easing credit-card policies
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Senator Levin Attacks "Trailing Interest" Practices
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Legalized loan sharks?
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Credit Cards Promise Clear, Simple Language
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Credit card billing 'unfair'
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One-in-four Americans are having major problems handling credit card debt
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When interest rates hit 32%, there ought to be a law
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Real Estate:

Einhorn Leaves New Century Board
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US subprime lender New Century Financial to halt loan applications
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New Century gets $265 mln in financing from lender
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New Century Shares Plunge on Bankruptcy Speculation
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New Century May Run Low on Cash After It Stops Making New Loans
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FBI to warn borrowers, lenders on mortgage fraud
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5 indicted in Arizona real estate fraud case
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Muhlenkamp's Fund Loses Ground From Shakeout in Mortgage Market
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Sub Prime Woes = Office REIT Jitters?
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Subprime Defaults Prompt Calls For Rules to Protect Borrowers
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Rising Subprime Mortgage Defaults Add to Unsold Homes Inventory
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Fed Warned on Foreclosures as Mortgage Growth Cools
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30-, 15-year mortgage rates lower in latest week
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54,000 Chicagoans caught in perfect storm
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Who's Profiting from the Subprime Bust
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Home loan requests rising
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Nonbank lenders lead foreclosure data
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Mortgage banker cites rise in defaults in laying off 76
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FDIC Orders Fremont General to Halt Subprime Loans
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Pinnacle's founder was charged with launching a real-estate Ponzi scheme that raised $69 million from over 2,000 investors
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Fed warned of foreclosure crisis as loan growth slows
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Traders Bet More Woes Await Subprime Lenders
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Hedge funds seen quaking over subprime
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Wall Street:

SEC suspends trading of 35 firms tied to 'pump-and-dump' spam
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Mass Torts:

Ex-mechanic wins asbestos suit against 2 automakers
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Health Care:

Mercy hospital in bankruptcy
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Radical Surgery - A long-term fix is needed at a hospital surviving on handouts
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Tara Hospital OK'd to liquidate
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Food/Drink:

Brown & Cole closing 3 more stores
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360 Global Wine Co. files bankruptcy
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Tax:

IRS' outsourcing the writing of tax rules raises eyebrows
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Enforcing Corporate Fiduciary Duties in Bankruptcy
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"Debtors' Hell" Wins Pulitzer Nomination
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Credit and immigration
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New Bankruptcy Opinions
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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)
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Delaware's Irrelevance
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Winners Amid Gloom and Doom
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Who Will Get Shredded?
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Hedge Funds:

Hedge funds muscle in on bankruptcies
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Sen. Grassley Seeks Hedge-Fund Rule
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Religion:

Attorneys Question San Diego Diocese School Construction
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Diocese: Money for school was loan
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San Diego Under Spotlight
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Court Battle Underway In Catholic Diocese Bankruptcy
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Judge Rejects San Diego Diocese Request To Seal Abuse Records
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Layoffs:

La-Z-Boy closing plants, cuts 500 jobs
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Dell: Pulling Out the Pink Slips?
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Photocircuits layoffs start
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Delphi to cut salaried work force
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Textiles:

Malden Mills seeks to convert bankruptcy case to Chapter 7 liquidation
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Predatory Lending:

Payday loan industry plans changes; advocates, lawmakers remain wary
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The many pitfalls of payday lending
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Payday Lenders in Texas: Closing the Loopholes
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Student Debt:

House Republicans, Democrats criticize Education Department's decision on Nelnet
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Utilities:

Calpine gets court OK for $242M subsidiary sale
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John Penn of Haynes and Boone, LLP Named American College of Bankruptcy Fellow
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IWIRC Announces Award Recipients
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L-Soft international, Inc. Files for Chapter 11
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How Fed rate hikes have turned into a regressive tax on weak borrowers
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2 groups offering to buy Werner; suitors cited in bankruptcy filings
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Werner Asks for More Time to File Plan
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In Debt We Trust as the Economy Goes Bust - A Return To Serfdom
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Living on Borrowed Time
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UK:

Insolvency set back 20 years by court ruling
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Life and debt - What drives some of us into profligate spending while others are able to cope
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Hard times ahead for banks, as debts soar
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£89m lawyers' bill for Eurotunnel
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Does the rise in administration figures mean insolvency laws need rescue and repair
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Italy:

Mediaset buys 183 pic package - Films are part of Cecchi Gori library
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Canada:

Class action against Societe Generale in Portus matter
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French EV battery maker buys bankrupt Canadian competitor
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Condo king files for bankruptcy protection
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Hollinger's future in doubt
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EnerNorth Granted a 45 Day Extension to Make a Proposal Under the Bankruptcy and Insolvency Act
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Australia:

Australia: Insolvency Law In 2007 - Where Are We Headed?
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Japan:

Aiful, Acom Reject More Borrowers to Cut Defaults
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Russia:

PriceWaterhouse Probed for Tax Dodging
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