October 5, 2007

Daily Bankruptcy News

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Law:

Now, you're just fresh meat
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14 Linklaters partners may be chopped
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West Coast giant Heller Ehrman axes 65 admin jobs
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Heller Says Slowdown Not Behind Layoffs
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Conn. Firms Pump Up Salaries
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Bonus Watch: Miami / Florida
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Pay Raise Watch: Blank Rome
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Howrey in Lockstep, Womble Carlye Out
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Bill Lerach, Coming Soon to a Barnes & Noble Near You
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'Lack of Frankness' Faulted Over Loss of Discovery Materials
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Ruling Shows Potential Pitfalls for Some Discovery Tactics
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New Boss Takes Over at Top NY Firm
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How Managing Partners Manage to Survive
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Lawyer Tries Charging Less
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Tinkering with Billable-Hour Requirements
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Top Partners Face Pay Cuts as UK Firm Overhauls Lockstep
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Bada-Bing!: Lateral Jersey Partner Takes the Reins at National Firm
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Partner May Find It Tough to Get Discovery Mess Off His Nice Shoes
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Lawyer couple get leniency in Wall Street case
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Judge Rejects Craig's Bid To Withdraw Guilty Plea
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Record companies win music sharing trial
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Amusement in court as cell phone erupts
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Rudy Giuliani Cast A Long Shadow At Justice Dept.
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Man shoots five at law firm
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Ousted US Atty Lands at Nev. Firm
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Louche trainee behavior: the definitive guide
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In 'Michael Clayton,' a whistle-blower runs for ethical cover
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George Clooney at Dewey Ballantine
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Police seize stolen da Vinci in law firm raid
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In Tight Market, Law Grads Seek Work in OK
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Senate confirms Harris County judge for 5th Circuit
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Did A Texas Supreme Court Justice Burn Down His Own House?
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Selective Justice in Alabama?
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Court Renders Confessed Judgments More Difficult To Attack
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Judge Under Fire for Blocking News Story
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Say What?!
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Real Estate:

Subprime Delinquencies Accelerating, Moody's Says
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Relief measures for U.S. homeowners facing foreclosures or bankruptcy advance in House
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Subprime defaults fastest in decade
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New Century Examiner Seeks Subpoena Power for Former Execs
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New Century Examiner: Need to Probe More
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Bankruptcy Filers Cannot Have it Both Ways
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Lone Star Funds buying California subprime lender
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Justice, IRS Enter Koger Investigation
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Foxtons says it will file for bankruptcy
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Foxtons hunts buyer for listings
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Lawsuit: Layoffs at Foxtons broke law
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Did subprime loans put people in homes, or out of them?
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Study says 40 percent of mortgages given to blacks and Hispanics last year were 'high cost'
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Tackling Nevada's foreclosure crisis
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1st Magnus can sell loans says judge
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That Sinking Feeling
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Subprime Woes At Cerberus
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Economy:

Factory orders fall in August
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Fall in Orders Is Steepest Since January
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Corporate Reform:

SEC enforcement cases rise for first time since 2003
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Lender Loses Round
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Corporate Governance:

Directors are shocked (shocked!) at sky-high CEO pay, just not at their own companies
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Autos:

Ford May Seek Job Cuts
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Ford Interested in VEBA; Chrysler Seeks UAW Concessions Previously Granted to GM, Ford
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GM and the UAW will soon focus on crafting another employee-buyout plan targeting older, higher-wage workers
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UAW-GM Contract Would Divert Cost-of-Living Increases To Fund VEBA
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GM deal clears way for thousands of lower-wage hires
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GM-UAW labor deal shows heft of health issues
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Dana's new agreements with GM and Toyota allow it to raise prices
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Now It's Just Daimler
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Bankruptcy Reform:

Durbin, Specter aim for "tweak" deal on bankruptcy code
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Not Crazy About Cramdowns
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Telecoms:

Court Converts Prosser to Chapter 7 Bankruptcy, Appoints Trustees
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Manufacturing:

Hydro Spa seeking bankruptcy reorganization
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Foss responds to looting charges
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Bankruptcy Crimes:

Topekan indicted on bankruptcy fraud charge
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Food/Drink:

IBC gets final extension on reorganization plan
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Church's, WETCO purchase 20 La. restaurants
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Health Care:

New buyers for Bayonne Med Center may come forward
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2 buyers, more in wings, court told
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Barnert cutting back on services
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Enron:

If at First He Doesn't Succeed, You Try, Try Again
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High Court's Fraud Case Widely Seen as Stand-In for Enron
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Religion:

Parish insurance policies under review in diocese bankruptcy
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Victim: Defrocked priest hid $80G in assets
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Predatory Lending:

'Payday' Lenders Don't Pay
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Mass Torts:

Montana Town Awaits Asbestos Trial
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Senate backs banning asbestos
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Utilities:

Calpine Shareholders Lose Bid To Delay Chapter 11 Plan Vote
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Hospitality Industry:

Hotel Investors Pack Up
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Software:

Novell files to lift SCO's bankruptcy stay
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Theme Parks:

Wild West's failure a lesson, investor says
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Banking:

ABN Says to Pay Barclays 200 Million Euros Break-Up Fee
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Tax:

On October 1, 2007, the IRS issued revised Collection Financial Standards for purposes of federal tax administration only
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Aviation:

United Taking a Flier With Pensions
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Airfare talk surfaces in court dispute between Hawaiian, go!
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After Delta's Recovery, New Turbulence Stirs
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Cessna Commits to Bend
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Data on market is public, Mesa says
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Philippine Airlines spreads wings as it exits receivership
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Ninth Circuit reinstates, in part, lawsuit seeking to hold airlines liable for injuries to passengers who developed deep vein thrombosis
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Alitalia calls board meeting Oct. 8 to discuss potential buyers
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New Bankruptcy Opinions
(1 new opinion 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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M&A:

Harvey Miller talks about buyouts, and airbags
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Bidders Beware: Private Equity Club Deals Could Be Challenged in Bankruptcy
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When Big Deals Go Bad -- and Why
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Bankruptcy Statistics:

Early Numbers Show Bankruptcies on the Rise
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Hedge Funds:

Merrill Severs Ties With Former Executive Kim's Fund
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Banks quizzed over failed fund
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Bear Stearns executive's rapid climb ended with subprime collapse
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Bear Stearns to `Weather Storm,' Sees Debt Recovery
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Harbinger Rises More Than 65% in 2007 on Subprime
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Credit woes box in funds amid buyer's market for bank debt
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A better way to organize securities markets
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Federal prosecutors launched a criminal investigation into two Bear Stearns mortgage-related hedge funds that collapsed during the summer
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Exiting Bear Stearns Whiz to Take $8 Billion
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Celebrity:

Pearlman's Estate Hashed Out In Court
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Media:

Communications Corporation of America Consummates Reorganization Plan
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Credit Cards:

Are Credit-Card Companies Cleaning Up Their Act?
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Ponzi:

Lawyer charged with bilking CA investors of $19.7 million
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UK:

Bank of England Keeps Interest Rate at Six-Year High
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Darling sees credit squeeze hitting economy
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Rock's emergency borrowing hits £10.7bn
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Saga questions bankruptcy statistics
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Banks use discounts to tempt 'vulture funds'
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Job fears hit London morale
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Double take
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Directors 'exposed to greater risk' after Companies Act
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Going Bust Has Just Got Harder
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Fury as Federal Mogul factory is set to close
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Judge sums up in Independent Insurance trial
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Number of pensioners going bankrupt rises by 700% in five years
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EU:

ECB pegs rates as credit crisis bites
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ECB Says Banks Expect Credit Conditions to Tighten
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Australia:

Bankruptcy no bar to senior counsel ranks
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New Zealand:

Finance company Clegg and Co in receivership
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Canada:

Honor among thieves
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An Examination Of Constructive Trusts In The Insolvency Context
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Priority Of Operator's Liens
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Spain:

Spanish worries mount as bank hoards cash
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Canada:

In his latest career twist, Drabinsky turns to reality TV
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Germany:

German business bankruptcies dip in July but personal cases soar
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