November 21, 2007

Daily Bankruptcy News

Also available on the Web (with links to the news stories) Click Here
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The Daily Bankruptcy News will not publish on November 22 and 23 due to the Thanksgiving holiday

Law:

Federal Judge Cites Crime-Fraud Exception in Ordering Attorney's Testimony
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Feast and Famine at Law Firms
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Thousand-Lawyer Firm Hands Operations Over to Non-Lawyer
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Weird Hogan & Hartson Ads: The Mystery Revealed
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Bonus Watch: WilmerHale (New York)
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Holiday graft
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Think Like a Plaintiffs Attorney to Lower Litigation Costs
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Paying For Management
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Former AG's Law Firm May Collect More Than $52 Million for Monitoring Medical Device Maker
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GC Maximizes Legal Spending With Alternative Billing Structures
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BigLaw Partner and Federal Bench Hopeful Sued for Defamation by Lawyer Blamed for $8 Million Screwup
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Bogus Harvard Law Grad Bilks Clients out of Thousands
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Pillsbury Feeds Corporate-Conscience Trend With New Hire
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Fired U.S. Attorneys Measure the Fallout
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Kohlberg Hires Deal Adviser to Be Top Lawyer
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Anonymous Lawyer
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Wall Street:

Stocks Set for Sharp Fall
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Wall Street's Housing Woes Persist
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Greed trumps fear as KKR gets banks to arrange CLOs
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Personal Finance:

Increasing Number of Hoosiers Living On Brink of Poverty
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Autos:

GM's Wagoner Has Short Honeymoon
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Court oks Remy Ch 11 Plan
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Small auto parts makers feel credit pinch
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Auto deals struck despite credit woes
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Auto interiors sector hurt by overcapacity
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UAW chief worried about GMAC exposure
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Auto Workers Seek Information on GM's Ties to Mortgage Risk
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Ford's Workers Bear More Retiree Health-Fund Risk Than GM's
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Automakers vexed by external forces
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Car hauler files bankruptcy
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Corporate Reform:

Adelphia founder, Rigas, and son denied new trial
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Conrad Black one step closer to prison
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Food/Drink:

Merrill Faulted by Le Nature's Trustee
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Winn Dixie emerging from bankruptcy
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Aviation:

Mesa to post $90M bond; stock off 8%
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Mesa's Ornstein gets contract extension
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Delta Pilots Oppose United Merger Plan From Pardus
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Why United Is Ready to Unite
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Delta Pilots Caution Against Hasty Deal
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2 remain in bid for Columbia
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Travelers' Odds Decline on Airline Baggage
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Health Care:

Fresh Pain for the Uninsured
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Hospitals pinch to avoid bankruptcy
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State panel can't keep hospital open
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Judge oks hospital's reorganization plan
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Judge gives local group approval to buy Kessler
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Real Estate:

Countrywide Denies Bankruptcy Rumors
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Bank of America's Countrywide Deal Loses $858 Million
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Countrywide says it has ample capital
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Freddie Mac woes may hit Countrywide
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Mortgages in Bankruptcy 101
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Single-family construction falls
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America's mortgage giants The cracks are spreading
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Freddie Mac May Need to Raise $6 Billion to Stem Capital Slide
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Freddie, Fannie to the housing rescue -not so fast
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Freddie Mac shares dive as mortgage giant's losses mount
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Freddie Mac expects deeper losses
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Freddie Mac: $8.1 billion writedown
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Freddie, Fannie Shares Will Continue to Slide
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Freddie Mac's $4.8bn loss deals fresh blow to housing market
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Are Fannie Mae and Freddie Mac Depleted of Equity?
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With Capital Warning, Freddie Becomes A Problem
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Freddie Mac losses threaten mortgage repurchasers' role
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Freddie, Fannie panhandle for a few billion
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Freddie Mac's Fall: A Signal Housing's Only Going To Get Worse?
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Freddie Mac Expects 4th Quarter To Be Difficult
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Shares of mortgage providers fall on back of Freddie Mac's woes
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Proposals in Congress Could Leave Taxpayers Footing the Bill in Subprime Mortgage Crisis
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CA governor, 4 big lenders agree on plan to stall high mortgage rates
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Dunmore Homes to Get Loan From Ex-CEO
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Levitt and Sons' bankruptcy leaves Orlando-area buyers without homes
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Icahn investment WCI may go bankrupt
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Bond investors bet on bankruptcy for ResCap
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H&R Block's Mark Ernst Quits, Breeden Named Chairman
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From China to the housing bust: Connecting the dollar dots
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Thrift Official Touts Loan Modifications
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Derivative Suit Filed Against AIG
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Shareholder Sues Bear Stearns Over CDOs
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Traders Race for Protection From Mortgage-Market Woes
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Utilities:

Calpine Lowers Estimate Of Its Value by $900 Million
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Calpine valuation filing raises doubts for creditors, investors
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Calpine shares tumble 50 percent
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Stock Brokers:

E-Trade Faces Account Withdrawals; Possible Suitors
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Economy:

Fed Forecasts Spur Traders to Ignore Warnings, Bet on Rate Cuts
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S&P expects Fed funds rate to fall to 3.5% in 2008
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What's Ahead For The U.S. Economy?
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Fed predicts slower growth, more jobless
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Fed slashes US growth forecast
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Credit Cards:

Target Writes Off $107 Million in Card Losses
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Jerking Rates
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Hedge Funds:

One in 10 hedge funds will fold, says Man
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Sipprelle to Close Copper Arch Hedge Fund After Returns Fall
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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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Bankruptcy Reform:

Bills Would Let Judges Remake Mortgages
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Bankruptcy Statistics:

Are Bankruptcy Filings Increasing Less?
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Enron:

Enron investors' lawyers seek $700 million fee
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Software:

York Proposes to Take Over SCO's Unix/Linux Lawsuits
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SCO Won't Be Letting Go, Oh No No
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Furniture:

Levitz unsecured creditors push Chapter 7 liquidation
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Entertainment:

Forget Sub-Prime: The Real Action in E-Bankruptcy may be the Struggling Adult Industry
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M&A:

Private equity deals start to fray in sharp market
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Cerberus drops $4bn Chrysler bond as credit crunch bites
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Currency:

Dollar slumps after Fed predicts slower growth
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Forest Products:

Pope & Talbot Faces Deadline to Sell
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Chemicals:

Judge oks Solutia Ch 11 Exit Loan
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Politics:

Presidential Hopefuls Address Foreclosure
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Mass Torts:

Scrutiny drives Tersigni into Ch. 11
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Banking:

BlackRock Is Likely to Lead Banks' Safety Net Fund
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Citigroup, bank credit swaps rise on subprime concern
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UK:

Northern Rock shares take a ride
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JC Flowers to repay £24bn Bank loan in three years
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Assessing the political damage
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Northern Rock Declines on Doubts Over Bank's Value
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Darling's unpalatable dilemma
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UK bank data of millions missing
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Chancellor faces up to UK's worst-ever data breach
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'Substantial operational failure' then a frantic search
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Millions race to change bank accounts as families panic
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Japan:

Japan's MUFG H1 profit hit by subprime, card woes
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Mitsubishi UFJ Profit Plummets 49 Pct.
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Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C.  You can reach us at 281-242-6208 or at accounting@bkinformation.com