May 29, 2007

Daily Bankruptcy News

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Aviation:

Revamped Northwest faces post-bankruptcy challenges
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NWA claims capped at $10 billion
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Northwest Airlines' bumpy ride out of bankruptcy
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Moody's Assigns 'B1' Rating to Northwest
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NWA after bankruptcy: Who's flying first-class?
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Union chief: Pilots 'tired,' work rules affect safety
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10% hike 'inadequate,' US Airways pilots say
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War Bill Gives Airlines Pension Relief
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American, Continental Airlines Get Pension Relief
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Allied Pilots Association Cautions American Airlines Management About Pension Relief In War Spending Bill
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Rule switch thwarts raids of fee income
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Law:

Making It Rain
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Another Day, Another Associate Pay Raise
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McDermott Will & Emery Raises Pay
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And Yet Another Firm Boosts Associate Pay
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Manatt, Phelps & Phillips (Sort Of)
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Sidley Austin, Arnold & Porter, Brown Rudnick Pay Raises
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Clifford Chance partner profits break £1m for the first time
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Merging Your Firm Might Upset Corporate Clients
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Power and Paranoia
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MoFo's Premature Press Release
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How Healthy Is Your Firm?
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Staff complaints force red-faced Allen & Overy into Facebook U-turn
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Latham doesn't care about the dollar (for now)
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The Bar/Bri Plaintiffs: A House Divided
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Why Did A McGuireWoods Partner Get Fired Over A BAR/BRI Lawsuit?
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Spring cleaning at Castle Greyskull
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Summer Associate of the Day
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Coach Me
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Lawyer Says 5th Circuit's 'Pettifoggery' Slam Was Hurtful
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Law firm's rainmaker moves to competitor
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The Bow Tie Club
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Say Cheese, Your Honor
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The Wilson Sonsini files
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Smaller Law Firm Wants Earlier Shot at Summer Talent
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Dumped Judge Gets Jail For Non-Payment Of Child Support
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Economy:

Compromise clears way for first minimum-wage boost in a decade
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American Economic Dream Deferred?
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More worry of financial hardship from gas prices
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U.S. Consumer Confidence Rose in May on Jobs, Economists Say
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Congress Approves Minimum-Wage Increase
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Real Estate:

Trustee asks to expand bankruptcy probe of New Century
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Single realty company holds rights to Dwek properties
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As Condos Rise in Florida, Investors Try to Flee
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A tax-deferral technique for real-estate investors, known as a 1031 exchange, is facing scrutiny as intermediaries in the strategy run into financial and legal woes
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US Existing Home Sales Drop to Lowest in Four Years
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Subprime loan crisis hitting Vallejo hard / 1 in 4 will end in foreclosure
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Foreclosures still raging in Chicago area
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NY: Fighting Off Foreclosure
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Charges possible after pigs rescued from foreclosed home
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Judge to unite 3 Coast lawsuits
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Attorneys in suit against Coast Bank jockey for position
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Housing market deteriorates at faster pace than expected
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Judge rules slain developer's estate is insolvent
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Autos:

Dana gets OK to rebuy plants
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Ford's mortgage backer has history of shady 'creative' financial dealing
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New CEO to take wheel at Allied Holdings
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CAW leader promises to fight for auto jobs
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Chrysler case full of folly
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A retiree healthcare deal astir in Detroit
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Mass Torts:

Congoleum Is Floored
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Congoleum Pre-Packaged Settlement is Unreasonable and Unenforceable Against Insurers
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New York Court Holds Asbestos Coverage Available Under Premises-Operations Hazard
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Insurers Have Standing to Object to Skinner Reorganization Plan; Insurers' Motion to Dismiss Case Denied
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Hardie asbestos liability may fall
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Amtrol's Debt-For-Equity Plan Approved
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Religion:

Bankrupt diocese pleads for cash
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Publishing:

Company ordered to turn over O.J. book
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Enron:

Enron shareholders are one step closer to some money
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The SEC is to decide whether to weigh in on an Enron case before the Supreme Court in what is seen as a test of its leanings, amid concern that it is too pro-business
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Corporate Reform:

Hubris as a cause of corporate collapse
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How a financial guru fell
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Duane Reade Subpoenaed over Lease Deals
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SEC Probes Dow, Cites Secret Meeting
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Banking:

Bank firm stock plummets
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Municipalities:

Public Pensions may soon bankrupt your city
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Bankruptcy Reform:

Is BAPCPA Affecting Use of Involuntary Petitions?
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Food/Drink:

Nellson Nutraceutical Headed for Auction
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Utilities:

House Committee Approves Illinois Electric Rate Freeze
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Entertainment:

Jackson gear up for grabs
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Predatory Lending:

In a cycle of debt
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Credit Cards:

Warren: Wanna Save $6 Billion at the Pump?
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Warren: Credit Card Fees: Where are the Free-Market People?
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Maxed out, spent down and busted
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Fed's attempt at credit card clarity brings out critics
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Weak Gruel for the Credit Card Companies
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Sorry Charlie
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Student Debt:

Student-loan agency may aid bankrupt borrowers
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Reforms? Not for rates on private student loans
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Debt Collection:

Jail still used as debtor prison
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Bankruptcies building in OC
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State Court Strikes Down Ch. 11 Litigation Trust Agreement As Void Against Public Policy
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Former Anchor Hocking employees scramble to find insurance
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Warren: Entrepreneurial Studies
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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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Tax:

Federal Bankruptcy Judge Slashes Fees Sought by Attorney in Pro Se Tax Victory
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Hedge Funds:

Refco Customers Denied Legal Fees
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Health Care:

Bankruptcy lawyers see need for health reforms
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Lifeline extended to the uninsured
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Education:

Bill puts Saddle Mountain schools into receivership
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Credit Counseling:

Dealing with the dilemma of debt
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Banking:

Leveraged buyout lending's rise creates tall worries about risk
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Private Equity's Big Debt Burden
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Battery company failures not fraud, says principal
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Huron Consulting Group: From The Ashes Of Andersen
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Telltale Signs Of A Troubled Company
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UK:

Bankers take control of Channel tunnel
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Shares of Eurotunnel double following swap deal
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Eurotunnel saved from bankruptcy
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Bankruptcy ruling for Rastogi
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Scotland faces late-payment crisis
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Lenders tell debt advisers to slash fees
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Judges' ruling challenges a traditional right
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Council cuts put 'vulnerable at risk'
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Tax-Cut War Widens in Europe as U.K., France, Germany Jump In
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Canada:

JW Auto Group declares insolvency
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Furniture Direct customers still frustrated
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Endorsement of St. Marys bid encouraging, union says
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France:

TCL Multimedia declares European unit insolvent
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Australia:

Ex-HIH head moved after threats
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They've taken his wheels
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Action for One.Tel rights issue
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Russia:

Prana Is Cleared as Buyer of Yukos Office, Trading Firms
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Rebgun Wins Yukos Dutch Case
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Germany:

Costly sequel to BenQ Mobile bankruptcy for many former employees
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Japan:

Japan Minister Kills Self Over Corruption Inquiry
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China:

Greenspan predicts big drop in Chinese stocks
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