November 20, 2007

Daily Bankruptcy News

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Law:

Hell Hath No Fury Like a Dissatisfied Hogan & Hartson Client
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18-Year-Old Kathleen Holtz Passes the California Bar
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Rachel Paulose Leaving Minnesota, Joining Main Justice
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Minn. AG Steps Down, Amid More Rumored Resignations
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How to Ensure Lateral Loyalty
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Winston & Strawn, Partner Settle 'Decompression' Suit
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5th Circuit: Scruggs Not Barred From Katrina Litigation Against State Farm
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Attorney Fee Expert Angers Judge
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Top General Counsel Content to Limit Legal Budgets, Rather Than Cutting Them
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Is Outsourcing Holiday Cards a Business Faux Pas?
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BigLaw Firm Says It Fired Lawyer for "Poor Judgment," Not For Being a Woman
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Magic Circle Law Firms Continue Profits Surge
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In the Land of Outsourcing, Foreign Lawyers Not Welcome
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Lawyers denounce Pakistani jailings
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Davis Cassini & Snyder Buys Big Leather Chair
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Bribe Tale Grows Tangled
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Man accused of posing as lawyer
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Court to decide if poultry need legal protection
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Louis Vuitton loses dog chew-toy case - again
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Wall Street:

US Stocks Retreat After Citigroup Downgrade, Lowe's Forecast
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Fed and markets sharply at odds over economy
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Merrill Lynch faces further traumas
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World stocks wilt on US economic fears
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The credit crisis rocking Wall Street has also made heroes of a handful of hitherto humble analysts leading the charge to force banks to come clean
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Financial Insiders Buy in Market Turmoil
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Major Asian Markets Recover From Swoon
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Retailing:

Energy costs to inhibit shoppers
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Can Eddie Lampert turn Sears around?
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Mass Torts:

Bankruptcy Adviser Tersigni Files Ch 11
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Utilities:

Calpine's CEO Could Get $10.9M Bonus
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Calpine Announces Updated Valuation Analysis
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Underground fire prompts discussion in Akron Thermal bankruptcy case
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Calpine plans 'equity grants'
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Stock Brokers:

Buyout Talk Can't Buoy E*Trade
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Hedge Funds:

Goldman's Global Alpha May End 2007 Down $6 Billion
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Hedge Fund Pioneer Builds Position in Troubled Lender
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Economy:

A Perfect Storm Stalks American Prosperity
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Seventeen reasons America actually needs a recession
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Business economists say recession unlikely in 2008, with growth picking up
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Bankruptcy Crimes:

Attorney sentenced to 12 years in prison
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Currency:

Stress level ratchets up in U.S. money market
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U.S. dollar sinks to record low
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Golf:

Fresno set for Trump talks
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Corporate Governance:

CEOs are thankful, rank and file are woeful
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Politics:

Clinton Says Economy Needs Experience
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Bankruptcy Statistics:

Bankruptcy Filings Down for Fiscal Year 2007, Up for Quarter
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YTD Bankruptcy Filings Jump 40% Over 2006
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Real Estate:

Homebuilder Confidence in US Held at Record Low
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At Subprime Conference It's Too Early to Tell Who'll Survive
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Mayors to confront foreclosures
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Subprime crisis seen spilling over into 2009
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Home Construction Climbs
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$2 Billion Freddie Mac Loss
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Fannie, Freddie drop on report citing vulnerability
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D.R. Horton Swings to Loss
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Crime scene: foreclosure
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While avoiding analysts' questions about expected losses, Fannie Mae's CFO fields queries about accounting policy
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ResCap Owners Might Push Into Bankruptcy
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As ResCap bonds continue falling, cash injection from Cerberus or GMAC a possibility
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Impac shares plummet on mortgage losses
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Swiss Re Takes $1 Billion Write-Down
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Swiss Re Never Saw It Coming
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UBS edgy over subprime impact on wealth management
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Liquidity Concerns Plague Countrywide
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NYSE suspends TOUSA trading
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California, Florida metro areas among highest 3rd-quarter foreclosures
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Outsourcing firm blames loss on First Magnus
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Many home speculators face foreclosure
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The Worst Is Yet to Come
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Slashed prices fail to lift housing market
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Central Fla. Foreclosures Show No Sign Of Letting Up
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Days of home ATM are over
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Tale of Two Judges
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Trustee cleans house at Quality Home
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9,500 lose O.C. real estate/finance jobs
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Banking:

Citigroup falls on "sell," $15 bln writeoff seen
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Citigroup, Bank Credit Swaps Rise on Subprime Concern
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Goldman Beats the Stuffing Out Of Citi
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Goldman paints bleak picture for housing, financials
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BofA investors want info on CEO succession
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Markdowns Continue To Scuff Up Citi
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M&A:

United Rentals sues Cerberus over broken deal
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Economy Conspires to Dog Cerberus
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Genesco, United Rentals Show Risks Rising for Small U.S. Stocks
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The Truth About Broken Buyouts
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Software:

Patron Systems files for bankruptcy
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Hearing Dec. 5 in Delaware on sale of SCO Group assets
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Health Care:

Pharmed headed toward liquidation
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Rell Ponders Receivership For Haven Healthcare Facilities
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Community awaits word on Kessler's future
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Fate of Kessler comes down to the wire
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US auto contracts create a $54.4 billion plum for Wall Street
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High Court Ruling Spurs Health Plans to Go After Legal Recoveries
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Forest Products:

Pope & Talbot Announces Voluntary Chapter 11 Filing
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Credit Cards:

Credit card firms seen preparing for spreading credit crunch
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Credit crunch seen squeezing consumer debt
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Accounting:

Tread Lightly Through These Accounting Minefields
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Corporate Reform:

11th Circuit Upholds Lawyer's Conspiracy Conviction
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Black's pricey artwork lands on auction block
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Finance:

Shedding Light on SIVs
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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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NEW
Claim Trading Alerts
The easy way to monitor
bankruptcy claims trading
30-Day Free Trial

Bankruptcy Reform:

Bills Would Let Judges Remake Mortgages: Bankruptcy Legislation Aims To Prevent Foreclosures
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Autos:

Judge oks Delphi Asset Auction
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Delphi files new plan giving shareholders larger payout
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Analysts worry that mortgage troubles could spread to auto loans
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GM Plunges Most in Two Years on 2008 Sales Concerns
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Rising auto loan delinquencies could mean big write-downs for vehicle-finance companies
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A million unit drop in car sales?
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Aviation:

Cirrus 'Will Not Bid' On Columbia
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go! parent ordered to post $90M bond by Wednesday
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Chemicals:

Solutia announces compensation plan, new board
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Religion:

Diocese ponders bankruptcy in dealing with settlement
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Student Debt:

Audit says feds overpaid Pa. student loan agency $35 million
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Fine-Tuning Eyed for Student Debt Program
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The other half of college debt
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Art:

De Niro Says Gallery Stole Paintings
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Horse Racing:

NYRA status muddies future
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UK:

U.K. faces unappealing choices on Northern Rock
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Taxpayers to foot the Northern Rock bill
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British gov't defends Northern Rock policy, as shares nosedive
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Chancellor ready to use veto on bids for Northern Rock
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Taxpayers could lose billions in Northern Rock crisis as rescue falters
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Ministers scramble for Northern Rock rescue plan
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The N word
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UK buy-to-let lender's shares dive
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Two-Year Note Rises for 14th Day, Longest Rally Since 1992
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'Minority Report' credit scores to spot defaults before they happen
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Contagion costs Alliance & Leicester £1.2bn
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Credit crunch clouds darken over UK
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One million homeowners face a 60 per cent jump in mortgage rates
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Credit crunch sees UK companies collapse
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Card Delinquencies, Charge-offs Fell in Q3
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Canada:

Pope & Talbot agrees to move bankruptcy
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Pope and Talbot Sells 3 Sawmills
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Portus co-founder Mendelson pleads guilty to fraud
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Canadian Wimax Pioneer Files For Bankruptcy Protection
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SR Telecom seeks court protection from creditors, 35 jobs eliminated
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National Bank to Take C$365 Million Debt Writedown
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Scouts Canada in financial trouble
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Heavily indebted Canadians need financial checkups
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France:

Natixis may need to inject 1.5 bln eur in credit unit CIFG
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