October 18, 2007

Daily Bankruptcy News

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Law:

Bad Choices Dog Weiss in Milberg Probe
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Democrats Have Lucrative Links to Milberg
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Law Firm's Gifts Bring Questions After Guilty Pleas
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Controversial BigLaw Clients: 'Vulture Funds'
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Death Spiral of Renowned Toronto Firm
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Law & Order Comes to Kirkland & Ellis
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Cutting-edge venture to rate elite law firms' brand value
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Jurists Say Minority Clerk Recruitment Foiled by Firms That Pay Bigger Bucks
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Just Doing It: Reasons to Quit Big Law
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An S&C Bonsai Beauty Pageant!
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The Latest in the Contempt Case Against Dickie Scruggs
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Claims Proceed Against Law Firm Over Sept. 11 Payout
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Good Law Firms Turning Virtual
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America's Next Top Model: A University of Miami 1L?
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Most Law Firms Are Underpriced
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Sellout or Saint? Those Arent' the Only Options
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A Game Plan for Survival
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Eversheds plans layoffs
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Layoff Watch: Are the K&E 'Layoffs' in the Eye of the Beholder?
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Layoff Watch: Latham & Watkins
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Lawmakers Pay Their Lawyers With Your Campaign Dollars
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Nixon Peabody to launch in London
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Diversity Expert: Change Legal Hiring System
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Jerks Confronted at Perkins Coie, Duane Morris
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Say What?!
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Reed Smith Partner Rides Management Track
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Real Estate:

Housing Starts Decline to 14-Year Low
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A stiff price for loans gone bad
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SEC probing Countrywide CEO stock sales
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About To Be Unsettled By Resets
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Whitlatch & Co. goes Chapter 11
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Burned by Real Estate, Some Just Walk Away
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Is Levitt headed for bankruptcy?
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Treasuries Rally Most in Five Weeks on Housing, Credit Weakness
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Home sellers getting stuck in Foxtons' bind
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Swank West Texas resort to be sold at auction
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ResCap cutting 3,000 jobs
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S&P downgrades $23.4 billion of 2007 sub-prime, Alt-A mortgage debt
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Company Debt Risk Rises Most in Seven Weeks on Housing Slump
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Washington Mutual's Profit Falls on Bad Mortgages
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A Profit Shrivels Amid the Mortgage Meltdown
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South Florida Housing Slump Continues
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GMAC Mortgage Unit To Cut 3,000 Jobs
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Thornburg Braces for Tough Times Ahead
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Reverend Jesse Jackson Talks Foreclosures
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The Subprime Blame Game: Where Were the Realtors?
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Corporate Reform:

Accountants Seek Separate Qwest Trial
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Pay disclosure rules lead to fewer executive perks
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SEC Tells Marvell, Exec to Expect Suits
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Autos:

Bonus on way for GM workers
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No speedy UAW vote on Chrysler contract
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Chrysler executives signaled several models may be dropped and the number of dealers may be cut in the next year under a new strategy.
(WSJ: separate paid subscription required)

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Economy:

Fed fears housing slump spreading to key US sectors
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Warren: How Many Pizzas Do You Earn?
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Has the Crunch Filtered Down to Consumers?
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Recession Risks Grow in US: IMF
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IMF Predicts Global Economy to Slow
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Credit problems cutting economic growth as energy costs and inflation add to stress: economist
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Aviation:

American Airlines parent posts biggest 3Q profit since 2000
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Airlines may never fly right on customer service, experts warn
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Aspen jet company selling all its assets
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Bankruptcy Crimes:

Juliaetta man facing bankruptcy fraud charges
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Hedge Funds:

The Garbage King vs. the Hedge Fund
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Cheyne Finance SIV May Not Be Able to Pay Debts, Receiver Says
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Sex, lies and trading -- the bizarre SAC story
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Food/Drink:

Avado Gets Court OK to Auction Assets
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Health Care:

Residents Rally To Keep Brooklyn Hospital Open
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Bankruptcies of health-care-related businesses are on the rise
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Hospital needs doctors' help
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Room for Health Care Debt Sales Growth
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Community funds sought to pick up Kessler's pieces
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UnitedHealth Posts 15% Rise in Net
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Mass Torts:

Insurers in Lords asbestos victory
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'Cruel injustice' of axed asbestos pay-outs
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Fen-phen lawyers seek new trial venue
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Accounting:

Ready or Not, Here Comes Fair Value
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Are independent auditors tough enough?
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Bankruptcy Reform:

Bankruptcy law reform isn't much help to Tennessee
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Delegation of Authority
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BAPCPA The "New" Bankruptcy Law: A Mean Law
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Farm Debtors Fare Better in Bankruptcy After BAPCPA
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Bankruptcy Reform - What predictions have come true?
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Bankruptcy - Two Years Later
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Banking:

Bank of America Q3 net income plunges 32 pct
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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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Student Debt:

Pushing Colleges to Limit Credit Offers to Students
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Celebrity:

Michael Vick sued by Wachovia Bank
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Insurance:

A D&O Dilemma - Although a few big lawsuits will not rattle the market for directors and officers insurance, the effects of the credit squeeze just might.
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Pensions:

State Street Is Sued Over Fund Losses
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Financial Literacy:

Flunking finance
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Utilities:

Calpine bankruptcy trustee balks at costs
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Movie Industry:

Movie Gallery Auditor Probes Accounting
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Peanut Gallery at Movie Gallery
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Tax:

CA Tax Scofflaw List Prompts Some to Pay
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Turnarounds:

Turnaround firms benefit from more failing companies in 2008
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Wall Street:

JPMorgan Not Out Of The Woods Yet
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Morgan Stanley Cuts 300 Jobs in Securities Division
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Cash Management:

BoNY to Transfer Accounts to Sentinel
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UK:

UK house market is 'heading for crash'
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Misery for the over-extended and over-indebted
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BBC to lose thousands of jobs
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IVA market 'will restructure' following crunch
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Is Northern Rock ready for Virgin's rock 'n' roll image?
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Top QCs enter fray on Northern Rock
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Canada:

Canada's Economy to Slow Amid Turmoil, IMF Predicts
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Thow engaged in "callous and audacious frauds"
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Australia:

IMF warns Aust Govt to limit spending
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Creditors Of Australia's Evans & Tate To Decide Fate Of Group
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Russia:

Rosneft paid back $9.8B from Yukos
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India:

Paradise recedes in textile boomtown
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