November 5, 2007

Daily Bankruptcy News

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Law:

Bonus Bonanza: More BigLaw Firms Up Ante; Will Salaries Rise, Too?
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Wal-Mart Memo To Law Firms: No More Rate Hikes!
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Bonus Watch: Dewey & LeBoeuf Matches
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Bonus Watch: Willkie Matches
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Bonus Watch: Cahill Matches
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Bonus Watch: Cleary Matches
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What Associates Want (It Isn't Partnership)
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Mayer Brown promotions bonanza sparks debate over partner status
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Firm Settles Student Finance Corp. Suit
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Dewey & LeBoeuf creates 'a role for everyone'
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McDermott To Create a New Class of BigLaw Attorneys
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McDermott, Will & Emery: New Track, Sidetrack or Mommy Track?
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N.J.-Based Gibbons Opens Office in Delaware
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Bratz Maker Splits With O'Melveny, Investigates Fees
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Say What?!
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Pregnant with contractions & she still passed the bar!
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Shearman & Sterling: Empire state
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The Mukasey Vote: It's a Barnburner! A Cliffhanger! A Nailbiter!
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Mukasey May Wind Up as an AG on a Short Leash
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Mukasey Gets Crucial Support
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Bankruptcy lawyer accused of fleecing clients
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5th Circuit Restricts Trial Courts' Discretion in Venue Motions
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Evolution of the Legal Secretary
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New Breed of Client Building Models to Rate Outside Counsel
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Measuring Cost Controls
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Law Firms Selling Off Ancillary Businesses
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Judge Removed Over Coin Flip and Pants-Drop
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Court Learns Best Way to Keep a Secret Is Not by Posting It on the Internet
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Clifford Chance set to launch gay network
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Wall Street:

Merrill Lynch Falls on Concern Writedown May Be $10 Billion
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Merrill, Citigroup Debt Risk at 5-Year High on Subprime Concern
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Merrill unaware of 'inappropriate transactions'
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Where Did the Buck Stop at Merrill?
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No severance? O'Neal's exit cash from Merrill ranks among 10 biggest
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A Rate Cut, a Rally and a Plunge
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Stock market faces week of turmoil over crisis in U.S.
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Paulson's Focus on Subprime `Excesses' Shows His Goldman Gorged
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Economy:

166,000 New Jobs Created Last Month, Double Expectations
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Despite Gain in Jobs Data, Wall Street Is Skeptical
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The job picture is a lot worse than it appears to be
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Recession symptoms near fever level
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Personal Credit:

Quick fix for credit not worth the cost
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Real Estate:

'Cement life jackets' for homeowners in trouble
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Countrywide directors got rich, too
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Victims of scam face losing homes
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White House urged to act on foreclosures
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Congress pressures lenders to help nation's troubled mortgage holders
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Owners of new homes left with liens
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Researcher Forecasts Higher Mortgage Default Rates
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Housing crisis hits Midwest hard
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States and cities feeling real estate squeeze
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'07 Record real estate market in Palm Beach, median price up 24%
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Blacks dominate subprime loans
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Bankruptcy becoming a popular alternative to foreclosure
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Calling Uncle Cerberus
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Save the Queen must act quickly
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Option One's credit lines reduced
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New Century Blames Countrywide on Refi
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Home market jitters fail to hoist the imprudent on their own petards
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Subprime Contagion May Claim 10-Year Treasuries as Next Victim
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Foreclosure wave sweeps America
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Surging foreclosures expected to deepen U.S. housing crisis
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Housing counselors in demand as mortgage troubles hit homeowners
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Prices tumble, but houses aren't moving
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Why is Ryland's Management Dumping Shares ?
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Foreclosures up 355%
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Wealthy Marin not immune to foreclosure crisis
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Foreclosure Among The Upper Class
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Housing bust in Jersey hits cities hardest
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Autos:

UAW and Ford Reach Tentative Agreement
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Next Hurdle for Ford and UAW Will Be Selling Contract Proposal
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Ford deal spares factories
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Key terms of Ford's contract with the UAW
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Ford workers cautious about new deal
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It's back in the game for Detroit 3
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UAW gives Big Three chance at reinvention
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150,000 cuts enough?
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Student Debt:

Attacking Families in Bankruptcy Court
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Graduates are buried by debt
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Banking:

Citi seen holding emergency board meeting
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Citigroup CEO Prince seen losing his crown
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Citigroup Names Chairman and Plans Write-Downs
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Citigroup Doesn't Deny Prince Exit as Shares Drop 31%
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Supporters of Citigroup break-up grow
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Citigroup's day of reckoning
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Top US analyst hits back after death threats over Citigroup downgrade
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Plenty of bull to go around in CEO's exit
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'The year of no excuses' that held Charles Prince accountable
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Weill's Profit Machine Breaks Down on Citi Writedowns
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Robert Rubin expected to be named interim head of Citigroup
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Fixing Citigroup Will Test Rubin
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Uneasy lies the head of Prince among bankers
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Embattled bank faces SEC inquiry over SIVs
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WaMu vulnerable on securitized mortgages?
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Why banks are only starting to uncover their subprime losses
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Bank bosses in the firing line
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Bank writedowns of $10 billion ahead?
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Bankers' Lesson From Mortgage Mess: Sell, Don?t Hold
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Brakes on lending could be the new banking reality
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Investors brace for more subprime pain from Europe's banks
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Subprime crisis affects banks worldwide
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Maritime:

Sea of troubles
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Student Debt:

Some banks and schools working to warn students about dangers of debt
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College Counseling for the 21st Century
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Senators Question Sweet Deal for Student Lenders
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Food/Drink:

Bankrupt Twinkies maker gets offer
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History:

Debtor's Prison for Congress
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Resorts:

Nudist Colony Files Chapter 11
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Bankruptcy Reform:

Banks Fear Democrat Bids To Aid Mortgage Borrowers
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Did Bankruptcy Reform Increase Financial Distress?
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Awards:

Prof. Warren Named to Smart Money Power 30 (scroll down)
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Debt Collection:

How Debt Collectors Get Around Bankruptcy
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Jewelry:

M. Fabrikant Reveals Creditor Payout
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Religion:

Bankruptcy judge rips San Diego diocese
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Tax:

Fidelity reorganizes corporate structure in a move that could cut U.S. tax burden
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Mining:

Judge lets Asarco sue Mexican owners
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Credit Cards:

(Not) Learning From the Subprime Meltdown
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Personal Finance:

Financial worries linger even with a six-figure net worth
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Predatory Lending:

Group aims at credit predators
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Va. Localities Push Lawmakers to Cap Payday Loan Interest Rates
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Retailing:

Mattress store owner files for Chapter 11
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KB Toys reportedly plans to shut down dozens of stores
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What's the Toy Story?
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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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Aviation:

Airlines, unions to struggle on starting point for contract talks
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Air Marshall Islands on the verge of bankruptcy
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Former TWA Attendants Get Recall Extension From American Air
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Would a Northwest-Delta merger fly?
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Bankruptcy Statistics:

Bankruptcy filings soared in Arizona in October
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Health Care:

Residents unite to save Barnert
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AHERF's ex-chief bitter about his fall
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Pharmed Seeks to Auction Subsidiary
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Fraud Concerns Led to WellCare Raid
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Beyond Those Health Care Numbers
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NJ insurer's shares tumble 87%
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New suitors propose Pascack deal
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Foundation halfway to Kessler fundraising goal
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Insurance:

Loan Insurance Class Action Settles for $45 Million
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Hedge Funds:

Daring and Controversial Legal Structures Help Fortress and Blackstone Avoid Tax and SEC Scrutiny
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Glimpses into the hidden world of hedge funds
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Following the lead of Congress, IRS puts PE and hedge fund managers in its sights
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Bear Sterns moves to fend off investor revolt
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Hedge fund investors recoil from start-ups
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Federal Judge Won't Protect Amaranth Advisors From FERC
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Finance:

Markets face junk bond glut - just when it's needed least
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The boundaries between receivables securitizations and loans are blurring
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Enron:

Shrunken Enron still has some fight left
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Hospitality:

PE-led hotel boom may soon top out
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Corporate Governance:

Wanted: CEO of major corporation
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The Boardroom Brawl At ACS
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Big pay gap in Dow 30
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Fiduciary Duties of Controlling Shareholders
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Financial Literacy:

Financial Literacy for Teens
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Art:

Waiting For The Big Bust
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These industries make subprime look sublime
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UK:

Insolvencies fall but bankruptcies rise
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Scots facing a Christmas debt crisis as bankruptcies reach 14,000
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Personal debt rise a 'dam waiting to burst'
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'Cracks appearing' as bankruptcies rise
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Northern Rock gives two-week bid deadline
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Consumers failing to take responsibility for debt
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Australia:

Rivkin asset access
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Hacker halts Rivkin auction
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Banks set to pounce on lenders
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Japan:

Distraint order issued to bankrupt L&G
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Nova boss grilled, may face charges
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Japanese Stocks Drop on Concern Subprime Losses to Continue
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Canada:

Disgraced adviser's past catches up with him
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Disgraced adviser Thow fired in Seattle
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Athletes World deal falters
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Russia:

Yukos bankruptcy procedure comes to end
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Pakistan:

Pakistan Fires Chief Justice, Arrests Attorneys
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