May 1, 2007

Daily Bankruptcy News

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

Also available on the Web (with links to the news stories) http://bkinformation.com/News/DailyNews.htm
Prior editions: http://bkinformation.com/bankruptcy_news.htm
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Aviation:

Northwest Air quarterly net loss narrows
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NWA reports pre-tax profit of $100 million
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Northwest cuts estimated amount of payable claims
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Bankrupt NWA Paid CEO $1.8M in '06
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Comair's future still uncertain
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S&P raises Delta's ratings on bankruptcy exit
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New look, new start
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Will Investors Board a Revived Delta?
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Delta's emergence from bankruptcy raises hopes at Bombardier jet plant
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Airlines pile on the fees
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Too many seats may threaten airline recovery
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US Airways Pilots Warn Management: We Will Not Entertain Bankruptcy-Era Contract Proposals
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Law:

The bottom line: It's a great time to be a an equity partner at an Am Law 100 firm. But getting there - and staying there - can be brutal
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Revenues and profits at the nation's highest-grossing law firms grew by healthy margins in 2006. Same old story? Not quite.
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Big Firm Lawyers + Booze = Retreat
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Charney and Sullivan & Cromwell Both Find Support for Claims
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Christensen Glaser, Partner May Face Trial Over Bags of Cash
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Chicago law firm opens Charlotte office, takes 18 from Kilpatrick
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Hot Off the Presses: The AmLaw 100
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Wiley Rein Dethrones Wachtell Lipton as America's Most Profitable Biglaw
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The Million Dollar Lawyers - AmLaw's Survey Shows Record Lawyer Profits Per Partner
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Eleven Firms Break the Billion-Dollar Mark
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Revving up Revenue
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Partner Profits Soar
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Compensation on the Rise
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Measuring a Lawyer's Value
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The Profitability Picture
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Suspicion of Client-Coaching Forces Reopening of Deposition
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Chicago's Geoffrey Stone Stirs Debate
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Do You Know What Your Associates Think?
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Freshfields ups associate salaries 19 per cent
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Linklaters confirms salary rises
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Allen & Overy associates receive salary hike to rival Clifford Chance's
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Shearman UK salaries up 4% as pay gap narrows
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Freshfields matches Allen & Overy UK pay, tops Linklaters
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Attorney's Board Game Has Appeal
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Foley Poaches From Weil Gotshal for China Office
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Say What?!
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The U.S. Attorney Mess: Roundup
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Lawyer of the Day: Cynthia D. Garris
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Special Bonuses for D.C. Lateral Candidates?
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Predatory Lending:

Ontario forces payday lenders to disclose all fees, considering more regulation
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Maine bill hits lending abuses
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Preying on the poor
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Owner of Civil War Letters going ahead with auction
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Autos:

Delphi Reports $373 Million Loss In First 3 Months Of 2007
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Delphi Corp. may get UAW counteroffer
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GM CEO takes 25 pct pay cut to support turnaround
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Judge asked to delay Dana contract decision
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Magna nears top of auto parts heap
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Debt Collection:

They don't break legs, but some break rules
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Real Estate:

Deutsche files legal claims against New Century
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Understanding the Subprime Mortgage Lending Crisis
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Foreclosure: an auction adventure
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Minneapolis takes new tack in fighting foreclosures
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Fannie Mae and FHA to save the day -- maybe
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No Housing Bottom Yet
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Pols Plan As Foreclosures Loom; Thousands in MA Are Close to Losing Homes
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Subprime Brownout at Commerce, Huntington
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Accounting Said to Hide Lender Losses
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Freddie Mac CEO on Subprime Solutions
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Evergreen Homes Files
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Subprime lender cutting to the bone
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Crisis and Opportunity In Subprime Mortgage Markets
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Housing bust leaves CA Valley in the lurch
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Loan firm lays off workers
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Tucson: Home foreclosures up 51 percent
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Publishing:

The Source Files for Bankruptcy
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Student Debt:

Six more colleges sign student loan code
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Bush once quashed lender limits
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Hedge Funds:

Hedge investors seen speeding corporate bankruptcies
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Are Hedge Fund Managers Really So Masterful?
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Food/Drink:

1 creditor might break even in brewer's bankruptcy
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LeNature's creditors near deal
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Financial Literacy:

Money Bus Teaches Thousands of Kids Financial Literacy
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Debt Collection:

Debt Resolve to Acquire Creditors Interchange
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Accounting:

Grant Thornton deal will create rival to Big Four
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Credit Cards:

More consumers are shedding payment products
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WS Lee reorganization approved
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Glassmaster company files for protection
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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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Funds Leverage Up, Fears of Reckoning Rise
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Telecoms:

Court Affirms Winstar-Lucent Bankruptcy Decision
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Pac-West Telecomm, Inc. Files for Chapter 11
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Entertainment:

Pearlman Investors Told They Won't Get All Their Money Back
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Corporate Reform:

Lawyer shouts down witness at Black trial
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Greenspan's questioning elicits testy exchanges
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When companies investigate themselves: Too easy?
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Feds want to limit access to documents in UnitedHealth investigation to protect criminal investigation
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Ex-Tyco Finance Exec Settles SEC Charges
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Duke Cheating Probe Shows Failure of Post-Enron Ethics Classes
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Utilities:

Creditors Approve Entergy Plan
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Ameren says everything is on the table in talks except for rate freeze and rollbacks
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Bankruptcy Crimes:

Couple's bankruptcy fraud trial set after 4 years
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Cross-Border:

U.S. Court Decision Clarifies Recognition Of Cayman Liquidations
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Sports:

Auction offers rare shot at Steelers seats
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"Brave" New World of Consumer Spending?/Borrowing?
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Running Horse stuck on same course
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Banking:

U.S. takes over New Albany-based Obelisk credit union
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Can One Member of a Lending Syndicate Enforce Remedies Under a Loan Agreement? Surprisingly, the New York Court of Appeals Says "No"
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Senior Debt:

55 and Feeling Fine, or Floundering?
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Economy:

A growing sense that it's too good to last
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Defaults Plague Little-Known Big Lender
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Tower to try again with retail stores?
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FTI Consulting, Inc. Reports First Quarter Results
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UK:

UK insolvency law threatens London's status as financial hub
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Consumer debt blame game
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Buy-to-let loan rules slacken as returns plunge
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Canada:

Factory Direct owner was shocked by closing
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