May 15, 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
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Aviation:

Court seals report in Northwest bankruptcy case
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How low can the airlines go?
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US Airways fliers feel impact of airline's labor woes
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Northwest settles with investors who opposed reorganization plan
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AmWest pilots to US Air counterparts: Quit griping
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Bankruptcy is wake-up call for airlines
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Airlines score lower than IRS in customer satisfaction
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Law:

Skadden Promotes Los Angeles Bankruptcy Lawyer To Counsel Position
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King & Spalding Establishes Financial Restructuring Capability in Houston
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Lovells boosts salaries by 20 per cent
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Wilson Sonsini Raises With One Hand, Takes Away Bonus With the Other
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AGs Review Hiring of Outside Counsel
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White & Case partner snub sees Bracewell stall in London
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Why Associates Leave
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Corporations Want More Than Appearances When It Comes to Diversity at Law Firms
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Wild Weather, Fires, Floods Threaten Law Firms
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Cerberus: Schulte Roth's Beast of a Client
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Coaches Teach What Law Schools Don't
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How Many Marketing People Should We Have On Staff?
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Practical Tips On E-Billing
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DOJ No. 2 McNulty Resigning Amid Inquiry Into Prosecutor Firings
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9th Circuit Panel Faults O'Melveny for 'Take It or Leave It' Hiring Clause
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The Truth Behind Law Departments That Fire Their Firms
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Former Phillies Pitcher and Lawyer Strike Out on Fees Appeal
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Sending Contracts Offshore
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Departures Leave D.C. Firm in Taxing Situation
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UK: The Lawyer Awards 2007 shortlist
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'Houston, We Have a Monica Problem'
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Retailing:

Hancock Fabrics loses key executives
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Entertainment:

Judge Hints at Revival of Suit Against Rappers, Lawyers
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Senior Debt:

Medical costs, credit cards sinking seniors
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Real Estate:

Foreclosure Rescue Scheme Turns Homeowners Into Tenants
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Foreclosure rates still soaring
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Risk: Bigger Stomach, Bigger Appetite
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The 1031 Tax Group Files for Reorganization
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Accredited Home Lenders: Feeling the Subprime Pinch
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Where did their money go? Investors who deposited millions with intermediary are worrying after its bankruptcy filing
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Banks Don't Raise Bar for Prime Mortgages
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HUD Secretary Wary of Subprime Bailout
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Home Builders In A Hole
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KPMG Drops New Century
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HughesWattersAskanase Selected by Freddie Mac As Designated Counsel in Texas
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Countrywide to Add 2,000 to Mortgage Sales Force as Rivals Cut Their Staff
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Down payment FHA gifts may end
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Health Care:

Judge orders disposal of 4 nursing homes
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Autos:

Cerberus offered best terms, speedy deal
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Chrysler Faces Big Challenges As Cerberus Takes The Helm
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Sale likely to change industry
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Cerberus's Sharp-Toothed Ways - Firm Has History Of Turnarounds Fueled by Cuts
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Cerberus Goes Where No Firm Has Gone Before
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Schulte Roth joins NY giants on Chrysler sale
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Cerberus likely to make swift changes
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Workers want more information
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UAW Says Chrysler Deal Shouldn't Affect '07 Talks
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UAW cuts could be on the horizon
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Private equity calling the shots
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How Daimler-Chrysler Stacks Up Against 'Deals From Hell'
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Chrysler's Private Bailout - Daimler Pating Cerebus $1B To Take Chrysler?
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Daimler Gives Chrysler to Cerberus
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Cerberus chooses Chrysler over Delphi
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Cerberus is silent on investment in Delphi
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DaimlerChrysler Bonds Rise on Plan to Sell Chrysler
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Daimler's Schrempp Lost $12.6 Billion for Investors on Chrysler
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Chrysler sale could herald auto industry restructuring
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CAW president won't support Chrysler deal until Cerberus guarantees no more cuts
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Backing sale was UAW's only option
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Chrysler Workers Absorb News as Union Backs Sale
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What about jobs? That's what concerns workers
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What the Chrysler deal means for Detroit
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A bet on sagging Chrysler
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What's not to like in the Cerberus-Chrysler deal?
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Chrysler Deal Drives Hopes That Ford May Be Next
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Chrysler Sale: The Broader Impact
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Ford family says not discussing sale of holdings
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California says feds may have to save US carmakers
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Court confirms Allied Holdings' Chapter 11 reorganization plan
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Delphi reaches deal with IRS to avoid $1.4B tax penalty
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Dana to Pay $26 Million in Reorg Bills
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US parts maker Dura seeks reorganization extension
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Corporate Reform:

Tyco to Pay $3 Billion Settlement
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Defense attacks Radler for 'sweetheart deal'
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Radler left rattled
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Biovail gets Wells Notice from SEC
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"If this is so irrelevant, why was there all this backdating going on?"
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Student Debt:

College official fired in loan probe
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Possible Changes for the Student Loan Industry
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Obama Plans Student Loan Change
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Enron:

Court refuses to hear appeal of ex-Merrill Lynch executive
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SEC's chance to do the right thing
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Financial Literacy:

Keep Teens Out Of Trouble By Teaching The Financial Facts Of Life
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Tax:

Trouble coming for Cayman tax paradise?
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Resurrecting a Guarantor's Liability for Payments Avoided and Recovered as Preferential Transfers
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New Bankruptcy Opinions
(2 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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Creditors' Committee Confidential
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Agriculture:

UA specialist anticipating $100 million loss on wheat crop statewide
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Banking:

HSBC Finance, USA profits fall
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Uilities:

Calpine and Calpine Canadian Debtors Reach Settlement
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Debt Collection:

The caller nobody wants to hear - Consumer complaints against the folks who chase after people with unpaid bills are on the rise as creditors try to recover delinquent accounts
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Hedge Funds:

Ceridian Fires Exec for Passing Secrets to Hedge Fund
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Transportation:

NTTA chief steamed over leaked memo suggesting bankruoptcy likely
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Credit Cards:

Visa for Life
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Predatory Lending:

GA payday loan ban stands
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New limits sought on payday loans in AZ
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Boswell keeps bankruptcy court bench
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Composite Solutions, Inc. Announces Emergence From Bankruptcy
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Rocky Mountain Forest Products - Nothing left but questions
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Junk Bonds May Repeat Crash of 2002 on Increasing LBO Credits
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Global Power Equipment: Stock Performing Well, Despite Bankruptcy
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One to Lie Awake at Night About
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UK:

'More than 80% overspend'
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R3 appoints first female president
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Restructure butcher
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TV company collapses after just six months
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The battle for Leeds United
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Russia:

Yukos Office Auction Raises $3.9 Billion
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Yukos Auctions All Smoke and Mirrors
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Russian investigators charge RussNeft chief
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Italy:

Parmalat Q1 net jumps to 110.3 mln eur, boosted by legal settlements
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France:

Eurotunnel shareholders advised to accept public exchange offer
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Japan:

Bankruptcies up 3.1% in April
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Australia:

The Home Is Not Safe
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