May 31, 2007

Daily Bankruptcy News

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Aviation:

Northwest to Exit Chapter 11 Thursday
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Northwest's reorganization jolts investors
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Flight attendants blast management gains at Northwest
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The travelers' take on the new NWA
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NWA to flex new financial muscle
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United pilots' union asks to reopen contract negotiations
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Law:

Ex-NY BigLaw Associate Wanted to Do Time for Sex Crimes in Cozy Canadian Prison
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Covington Raises Pay
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Munger Tolles & Olson Raises
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Winston & Strawn Raises In Chicago
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Wachtell Goes To $165K
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Dechert, Katten, Morgan Lewis Rise
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Plaintiff Lawyer Lerach to Quit His Firm
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Class action king Bill Lerach to "retire"
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Milberg Weiss Partner Bershad, Fed in Talks
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Milberg Partner Bershad in Plea Talks
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BigClient Dickers With BigLaw Over Discount for Paying Promptly
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A Font of New Supreme Court Rules
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Practice Group Mentality for Midrange Law Firms
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King & Spalding Left Out of Longtime Client Coke's $4.1 Billion Deal
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Bar against communicating with adverse parties doesn't apply to inside counsel
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Say What?!
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Sunken Treasure for Edwards?
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Everything You Wanted to Know About Owning a Law Firm, but Were Afraid to Ask
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Networks Help Small Law Firms Go International
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Orrick Overpaid by Politician It Backed
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2nd Circuit Clarifies Right of Testifying Defendant to Consult Lawyer
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Justice Department Expands Probe of U.S. Attorneys' Firings
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Elevator Rides at Law Firms Call for Delicacy, Tact
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The Pub
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Tardy litigators will be fired
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Firm signs multi-million $$ outsourcing deal
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Freshfields matches CC as PEP tops £1m
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London firms push early offers in drive to retain trainees
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Paper:

Marcal gets go-ahead to fill upper management slots
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Committees:

Barclays settles insider trading charges arising from alleged use of Creditor Committee information
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Layoffs:

Motorola to trim 4000 more jobs as it cuts costs
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IBM to cut almost 1,600 more jobs
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Economy:

Fed Sees Housing Damping Growth Longer Than Expected
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KKR sees no end in sight for debt-funded 'golden era'
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KKR in cov-lite loan milestone
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US Adds 97000 Jobs During May
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Entertainment:

Jackson Family Auction Underway at Hard Rock
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Church Street sale is delayed
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Autos:

Dura Auto Wins Time to File Ch. 11 Plan
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Did Hawk Fly Too High?
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Shake-up at Chrysler Continues
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Local Dana workers won't strike
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Car hauler emerges from bankruptcy
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Real Estate:

'Subprime' Aftermath: Losing the Family Home
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New Century bankruptcy probe may expand
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Taking a long view on shorting subprime loans
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Trump pulls out of Tampa high-rise project
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Developer Faces Subdivision Foreclosure
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DE: State on track to set record for foreclosures
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Novato lender lays off most of its employees
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TX: Suburbs share home foreclosure problem
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Home Foreclosures On The Rise At The Jersey Shore
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Ameriquest Faces Lawsuit by Borrowers
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Subprime Fiasco Exposes Manipulation by Mortgage Brokerages
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Mutual Finger-Pointing
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Ruling goes against Vertical in RICO suit
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Wow, I could've had a prime mortgage
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Liar Loans
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Tax:

Ernst & Young Partners Charged With Tax-Shelter Fraud
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Ernst & Young Statement
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Corporate Reform:

Tax agent details impact of bonuses at Black trial
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Lord Black breaks a habit and stays silent
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Ebbers' assets remain on sale
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Black prosecutors drop a charge
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Conrad Black prosecutors end case
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Making Sense of the New "Enforcer"
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Martha Stewart to pay investors $5 million U.S. under $30 million class-action settlement
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Religion:

Bankruptcy judge OKs sale of diocese properties
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Diocese sold property before 2006 bankruptcy
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Lawsuit filed to determine SD Catholic diocese's assets
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Mass Torts:

Judge orders new Vioxx trial
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Asbestos Award Upheld
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Financial Defamation:

Court Lets Overstock.com Pursue Libel Suit Over Financial Analysis Company's Report
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Utilities:

Legislative panels pass electric rate freeze
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Predatory Lending:

Do Utah payday lenders use cash to fend off regulations?
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Lender's 2,190% interest draws big fine
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Opponents of Nevada's payday loan measure seek veto
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Enron:

Broadway to be hit by Enron-style scandal
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Global Home Wins More Time for Plan
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New Bankruptcy Opinions
(1 new opinion 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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Online Claims Trading
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Auction your Chapter 11 claim to the highest bidder

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Accounting:

The End of the SPE?
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CFOs Predict a Fair-Value Headache
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Deloitte boss says global standards convergence far off
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Timothy Flynn named Chairman of KPMG International
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Big Four engaged in 'unfair competition'?
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Food/Drink:

Amendments to Regulations Under the Perishable Agricultural Commodities Act (PACA) To Ensure Trust Protection for Produce Sellers When Using Electronic Invoicing or Other Billing Methods
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Bankruptcy Crimes:

Best Served Cold
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Student Debt:

NY student loan bill becomes law
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Lenders to students among those vowing to stick to high standards
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Cost of debt for graduates is no game
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Debt Collection:

A statute of limitations on debt?
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Health Care:

New Healthcare Lender Targets Mid-Market Financing Niche
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Medical Debt Like Credit Card Debt 10 Years Ago
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Medical Group Posts Real Prices of Procedures on Website
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Credit Counseling:

Paying for the Privilege to Pay
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Bankruptcy lawyer's comment means trouble with judge
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Lawyer's 'Super-Size' Gaffe Costs Him Client and Possibly Right to Practice Before Fla. Court
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The Gospel According to Dave
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UK:

Debt experts fear growing number of court cases
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Kwik Save call in KPMG after payment problems
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A million debtors face court action
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U.K. Home-Loans Drop as Credit Reaches Decade-Low
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IVA providers face crunch meeting today
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NHS tech provider iSoft faces bankruptcy
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UK business confidence surges forward
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Russia:

Rosneft to Sell Bonds, Stock to Pay $34 Billion Debt
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Canada:

Ex-GenFast worker seeks NDP nod
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