November 28, 2007

Daily Bankruptcy News

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Law:

Milbank Names New Restructuring Partner
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Thacher Proffitt Warns Of Imminent Layoffs
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Wall Street ABS leader warns of post-crunch lay-offs
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Layoff Watch: Thacher Proffitt Announces Likely Future Layoffs
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Bonus Watch: Hughes Hubbard and Reed
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FBI searches office of Katrina lawsuits lawyer Scruggs
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'Badass Diva' Ready to Run Heller in L.A.
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Anna Nicole Smiths Estates Sued For Unpaid Legal Bills
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Don't Accept a Counter Offer (but if you do...)
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Shell asks outside lawyers to hang it up
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Temp Attorneys, The India Edition
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A Very Special Invitation from Seyfarth Shaw
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Law Firms Face New Rules on Retirement
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Law Firms Fall Prey to Scam
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Axiom: A Different Kind of Legal Practice?
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Sam Wyly Sues Milberg Weiss Over CA Class Action
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Judge's Removal Recommended for Prolonged Tirade Over Courtroom Cell Phone
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Novelty Song About Reindeer-Trod Grandmother Leads to Multimillion-Dollar Lawsuit
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'Hottie' Judge Kozinski Continues Joke in Press Release
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Most-Favored Nation Terms with Law Firms
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M&A Lawyer Trades Legal Briefs for Boxing Gloves (Photo)
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Judge Awards $4.2M Fees in Microsoft Case, a Fraction of the Request
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KC Firm in Merger Talks, Expanding to Chicago
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Lawyers Claim Law Firm Fired Them for Ethical Objections
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Law Schools Won't Covet Place on This Ranking
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Lawyer Seeks Criminal Investigation of U.S. Judge for Sex Harassment
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Judge Samuel Kent: A Bigger Horndog Than Bill Clinton?
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Say What?!
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Real Estate:

3Q Home Prices Fall by 4.5 Percent, "Over 50% Recession Risk"
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Home Resales in U.S. Probably Fell to Eight-Year Low
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US home prices tumble, consumer confidence sinks
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US quarterly home price drop largest on record
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Mortgage Applications Index Fell 4.3% Last Week
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Subprime Crisis Not Over, More Writeoffs to Come, Levitt Says
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Price of Tampa homes drop the most
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Mortgage crisis a drag on Atlanta economy
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Houston may face $2.3B hit from mortgage crisis
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Texas homebuilders shares hit lows
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Foreclosures could hit L.A. hard
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Foreclosure Crisis Could Cost LA $8.3B In 2008
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Housing Game, California Style
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Mortgage crisis expected to cost Bay Area $5.4 billion next year
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Bank disavows lawyer's comment
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Pelosi Statement on U.S. Conference of Mayors Report on Mortgage Foreclosure Crisis
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Foreclosures by Countrywide Investigated
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Countrywide Waves Off Call For Probe
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HomeBanc Mortgage Gets Ch 11 Extension
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Mortgage Company Owner Skips Hearing
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Freddie Mac to Sell $6 Billion in Preferred Stock
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Fannie, Freddie loan limits kept at current level
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Countrywide says Freddie, Fannie losses will not impact company
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US Mortgage Crisis Slams Property Values, State Tax Receipts
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Court Approves Loan to Fieldstone
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Seniors lose millions in mortgage investment company
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Housejacked: How it Works, Who's Involved, and Who Got Hurt
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Decline of US subprime sector slows
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D.R. Horton predicts '08 worse than '07
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Time to Hedge Your Home?
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Levitt and Sons gets OK to abandon unsold lots
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Wolseley cuts 3000 jobs
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Horse Racing:

Jockeys' Guild Operating in Deficit
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NYRA Steps Toward Ending Chapter 11
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Banking:

Why Citi can't take the high road over credit mess
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Citi's $7.5B Infusion Met With Criticism
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For Abu Dhabi and Citi, Credit Crisis Drove Deal
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Citigroup Pays Junk Rate to Keep Dividend After Mortgage Losses
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Abu Dhabi blazes trail with Citi deal
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Abu Dhabi's Citigroup Bargain
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The Analyst Who Rocked Citi
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Wells Fargo Sets $1.4 Billion Charge for Home Equity
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Bonds fall as bank injection soothes credit fear
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HSBC SIV restructuring model offers alternative to super-fund
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SIV sponsors could follow HSBC's lead
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Financial Firms Hunt for Cash
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Economy:

Confidence Drops More Than Predicted (Update2)
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US Consumers Down And Out
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Risk of recession rising, says White House
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Fed bank majority not pressing for rate cut in Oct.
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December Fed rate cut seen as virtual certainty
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Credit Squeeze Tightens Grip
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Recession signs grow as Winnebago leads first RV dip since 2001
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Amid recession jitters, world's financial system vulnerable
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Fed's Evans Says Economic Outlook "Uncertain"
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The credit guns of August
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'Strained' markets' red lights flashing
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Finance:

MBIA Collapses its Hudson Thames SIV, Takes Writedown
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How The Credit Crunch May Affect Corporate Debt Refinancings
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Bond insurers look to reinsurance for money
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Autos:

Dura Automotive still looking for $425M in Chapter 11 exit loans
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Dana Corporation Secures $2.0 Billion Exit Financing
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US Declines to Charge Ex-Delphi Execs
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Lampert boosts AutoNation stake again
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Suppliers dwindling
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Dealing With Supplier Bankruptcies: Costs and Benefits of Financial Subsidies
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Delphi faces critical hearing Thursday
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Hedge Funds:

Simons at Renaissance Cracks Code, Doubling Assets
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Australia's Absolute Capital appoints administrator
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Cheyne Creditors Near Plan for SIV
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Corporate Reform:

Jury clears former JDSU execs
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Wall Street:

Wall Street halts slide with big rally
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Credit Rating:

Former SEC chief slams credit raters
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Enron:

British bankers to plead guilty in Enron case
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Social Lending:

Consumers Eye Social Lending on The Web
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Bankruptcy Reform:

Moore studying issues around bankruptcy legislation
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The coming flood
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Foreclosure relief
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Municipalities:

Tough votes in Vallejo
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Discharge:

Just because you get your bankruptcy discharge doesn't mean you get to keep it!
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Software:

Stay Lifted, Novell Vs. SCO Can Go Forward
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SCO's Fate
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Corporate Governance:

Beware Hedge Funds Bearing Advice
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Education:

Of Horace Mann's legacy and a struggling college
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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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Utilities:

Judge oks Calpine Settlements
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Health Care:

State seeking trustee for Haven Healthcare homes
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Blumenthal Urges Trustee For Troubled Health Group
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Judge Expected To Name Ombudsman
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Judge Won't Hear Trustee Arguments In Haven Case
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State money for BMC approved
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With plan OK'd, Kessler fund-raising still on
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Only time will tell if Kessler plan is truly successful
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Mass Torts:

James Hardie's final insult
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Food/Drink:

Merrill Must Release Le Nature's Records
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Avado Sells 83 Restaurants, Headquarters
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Moe's chain faces lawsuits
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IBC tries to force disclosure
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Bankruptcy Crimes:

Attorney Yagman sentenced to 3 years
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Aviation:

United Sees Support for Consolidation
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Payouts, buybacks 'on list' at United
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United plans debt cut, 'shareholder initiatives'
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Park Electrochemical discontinues bid for Columbia Aircraft
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Textron Buying Columbia Aircraft
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Cessna Gets Columbia
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Cross-Border:

Fargo (No, not North Dakota -- Argentina)
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Predatory Lending:

Predatory Poppycock
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UK:

Northern Rock deposit exodus adds to urgency for deal
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EU asked to rubber stamp bank bail out
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Hedge fund takes biggest stake in Northern Rock's fate
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Bradford & Bingley May Buy Loans From Northern Rock
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Investor in Rock lifts stake to halt Virgin
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Bank Rescue Runs Into Hedge Fund Opposition
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What happens when banks go bust?
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Is Branson the man to save Northern Rock?
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It's ironic that Darling should turn to Branson
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Branson: We can make banking fun
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Credit crunch promises better things for debt group
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Trouble looms for a third of mortgages
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Sharp rise in rate of borrower insolvency
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One in four Britons 'drowning in debt'
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Canada:

Portus trial years away, lawyer says
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Bank of Montreal Profit Declines on Debt Writedowns
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Japan:

Subprime losses to reach ¥626 billion
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Mexico:

Mexico's Cemex sees US sales volume down in 2008
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Germany:

IKB worries force German state bank KfW to raise risk provisions
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Norway:

Norwegian investment house Terra Securities declares bankruptcy
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Australia:

Insolvency on the rise
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