April 22, 2008

Daily Bankruptcy News

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Law:

New Firm Mantra: Cut, Redeploy
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Judge Reprimands Allen & Overy for Litigation Bill
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Legal Fees Big Enough to Choke a Judge
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Why Associates Leave is Clear, But What Would Lure Them to Stay?
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White & Case Exits Reveal Two Visions and an Opportunity
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Perk Watch: Infertility Treatment
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Recession Spells Rescission: It's Getting Nasty Out There
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What's Up at Mayer Brown?
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Judge's $14K Sanction Against Lawyer For Client's Bankruptcy Overturned
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What do Bankruptcy Lawyers Do All Day Anyway
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High Court Says No Thanks to Exxon-Mobil Punitives Appeal
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The Most Powerful Lawyer in Britain
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So Who Owns WinstonHeller.com ... And Why?
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Neutrality Questions Continue to Dog Arbitration Firm
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State Supreme Court rules Internet user has right to privacy
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Court of Appeals rules that customs officers at airport authorized to examine the electronic contents of laptop computers
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Ex-Justice Official Charged in Abramoff Probe
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Still Waiting for the Congressional Hearings
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Cox's Top Lawyer to Leave SEC
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Luck Runs Dry for 'Deal' Plaintiffs in Lawsuit Against NBC
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Pseudo-Subpoenas Flood Firms With E-Mail Virus
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MoFo Fights for Wounded Vets in Landmark Benefits Case
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Cozen O'Connor Grows Revenue 4.5 Percent, RPL 9.7 Percent
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"The Future of the Global Law Firm"--Installment #2
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Paralegal Sues: 'You Stole My Bra!"
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Attorney Cites Cop for Parking Infractions
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One Firm's Paperless Law Office
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Say What?!
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Earth Day 2008, Law Firms Going Green
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Jerry Springer to be Commencement Speaker at Northwestern Law School
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Former Ross, Dixon Partner Seeks Top Prize in Idol Songwriting Contest
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Judges:

A New Call for Tougher Recusal Standards
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Judge Bernhard Schaffler Passes Away
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Judge, Mired in Accusations Over Disbarred Husband's Fraudulent Transfers, Resigns
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Economy:

Crude Oil Rises Above $117 as Attackers Cut Nigerian Supply
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Oil: How High from Here?
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Burglaries Have Surged 21 Percent - Police Put Blame on Economy
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Re-examining NAFTA in Hopes of Curing U.S. Manufacturing
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CFOs see credit crunch hurting into 2009
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30 Percent of Economists Believe Economy Will Shrink
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Finance:

CIT Will Sell $1 Billion in Stock, Preferred Shares
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Libor calls for softly, softly approach
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Tech:

Texas Instrument's Profit Jumps 28% in First Quarter
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Municipalities:

Vallejo approaching key deadline to avoid bankruptcy
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Retailing:

Empty stores keep brokers busy
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Wilsons Leather raises possibility of bankruptcy
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Sears latest retailer to lose bank funding
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A sobering reminder of the precarious state of the American economy
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To Buy Time, Linens 'n Things Pays
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Celebs:

Actress Gail O'Grady's Vegas exploits didn't stay there
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Farming:

New Threat to Farmers: The Market Hedge
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Call Goes Out to Rein In Grain Speculators
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Speculators Not Driving Agricultural Rally
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How the rich starved the world
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This trend is no one's friend
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Food and the World
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Grain Elevators Feel Pinch of High Grain Prices
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Food/Drink:

Arrow wins disclosure statement OK
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Twinkie lovers, be grateful for Chapter 11
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Insider Compensation:

Big Labor Blames Glutton CEOs
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Wall Street:

Stock futures point to flat open
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Wall Street awaits more earnings
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U.S. Stocks Drop on Earnings Concern; Bank of America Retreats
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Jefferies Sells 14% Equity Stake To Leucadia; Reports Loss
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Analysts to investors: Corporate earnings about to take a tumble
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Rise in secret stock trading may be skewering share prices
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Bad times great for Wall St.'s top titans
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Tax:

High Court Curbs State Taxation on Subsidiary Sale
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Tax Man Takes Aim at Mercury Ex-CFO
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Railroads:

Railroads Roar Ahead: Industry could rebound on nation's economic woes
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Jewelry:

LID to seek auction
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Real Estate:

Here Comes the Next Mortgage Crisis
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Struggling homeowners could get new government-backed loans
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Losses may turn into relief for U.S. home builders
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Florida luxury home market shows signs of wear
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NV: Ghosts from the boom
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Denver: Home sales down, foreclosure filings up
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U.S. CMBS delinquencies rise slightly
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S&P Cuts Ratings On $1.66 Billion In CDO Tranches
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Phoenix Investors Struggle to Hold On
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Colorado Offers Foreclosure Counseling
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)

BofA warns more home equity losses are coming
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What if the Bank Freezes Your Home Equity Line of Credit?
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Taxpayers shouldn't bail out bank 'gambles'
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Renters can't escape housing foreclosure crisis
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Unpaid fees trouble condos
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Cantern sheds its office building
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Mortgage Meltdown Issue: Arson
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Banking:

Banks Hunting for More Cash
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Bank of America Braces for Consumer Loan Loss
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Will Bank of America be the next to seek capital infusion?
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Bank of America to alter loan practices
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BofA feels pinch in its credit card unit
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BofA: Could Be Worse
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Bank of America's earnings drop 77% and troubles may only grow
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Bank of America's Lewis says dividend is OK -- for now
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A Quiet Call for BofA's Chief
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Big Banks Appear Low on Cash
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Can anyone run Citigroup?
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Citigroup Raises $6 Billion in Its Biggest Public Debt Offering
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The next earnings nightmare for banks has begun
(WSJ: separate paid subscription required)

UBS' Subprime Postmortem
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UBS catalogues its $37.4 billion writedowns
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Kurer Pressured to Dismantle House Ospel Built at UBS
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UBS blames subprime loss on excessive risk-taking
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UBS report on writedowns shows how not to run a bank
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UBS admits it rushed hedge fund's creation
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Lending Spree Spawns $100 Million Claim
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Royal to ask for at least £10bn today as charges soar
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Colonial BancGroup slashes dividend, plans public offering
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SunTrust Profit Falls 45% on Provisions for Bad Loans
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BankAtlantic lays off 115 employees
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Fifth Third Bancorp 1Q profit falls on bad debt reserves
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Washington Trust Reports Profits Off
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Advisers on National City-Corsair Capital
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Jones Day joins NY elite on $7bn Nat City fundraising
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Why bank shareholders shouldn't count on dividend income
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Subprime-hit ICICI Bank may prune raises
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Derivatives:

US watchdog rebukes FSA on derivatives
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UK Derivative Markets Lack Transparency, CFTC's Chilton Says
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Why Wall St. Needed Credit Default Swaps
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Rating Agencies:

How Moody's and other credit-rating agencies licensed the abuses that created the housing bubble
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Call Centers:

PRC to close call center in Carrollton
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Politics:

Clinton's campaign "in the red" -- debts exceed cash on hand
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Adult Entertainment:

Scores Hits the Skids
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Hedge Funds:

Managed hedge fund capital rises by only 1pc
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Corporate Reform:

Auction-rate Probes Go National - States get involved in searching for causes and consequences of damage from the deterioration of the once-reliable market
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Penny stock C.E.O. faces jail for contempt of court.
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SEC wants more funding
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Dry Cleaning:

Bargain Cleaners proposes sale
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Publishing:

Gannett profit declines 9% on weaker ad sales
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Health Care:

St. Vincent's Hospital Faces Opposition to Redevelopment
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CHS unveils plan, settlement
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Credit Cards:

MasterCard's Machiavellian Twist
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Fraud:

Evergreen Security creditors to get $3.4 million
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Bankruptcy judge OKs plan to help defrauded investors
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Engineering:

Thinkpath cleared to tap DIP
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Mass Torts:

Breaking Asbestos Litigation's Chokehold on the American Judiciary
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Art:

Make Artists Whole
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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)
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Bankruptcy Research:

Lubben on Corporate Bankruptcy Costs
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Bankruptcy Reform:

Lenders derail plan to let bankruptcy judges modify mortgages
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Aviation:

Delta pilots open to arbitration with Northwest pilots
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Delta Chief's Fancy Footwork
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Merger Most Foul
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Moody's Sees a Loser in the Delta Deal: Airports
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Airlines Add Executives
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Staff at American Airlines pilots union protest the pilots
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Whither America's airlines?
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Airlines to Begin Charging for Second Bag
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Why Is Airline Service So Bad? - Posner
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$2.2M offer for Hawaii airline unit
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Hawaiian takes off while Go struggles
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Frontier wants to sell jets
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Air France scraps Alitalia bid
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Aeroflot Renews Bid To Aquire Alitalia
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Italy gov't may discuss Alitalia loan
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EU: not told of any more state aid for Alitalia
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Alitalia Plunges After Air France Drops Takeover Bid
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Alitalia flies into unknown as bankruptcy looms
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Italian authorities warn they could revoke Alitalia license
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Italy calls emergency talks on Alitalia
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Eos saved from Bankruptcy
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Autos:

GM faces barrage of strike threats from UAW locals
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GM slips on Fortune 500 list
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Ford adds 1,500 jobs . . . in Russia
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American Axle strike idles two more General Motors factories
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Manchester includes settlement
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Student Debt:

Credit crisis hits student borrowers
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Student loan funds not such a sure thing anymore
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Credit Card University
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Education:

PEF judge to consider lift of stay
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Emergency Response:

ALF's stalking horse prevails
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Consultants:

Alvarez & Marsal Expands Midwest Presence
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Book Reviews:

Art of a good cross, examined
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Furniture:

Ch. 11 to wash away Dan River
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UK:

Bank of England Outlines Its Bailout Plan
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Freshfields to the fore on Bank of England's cash injection
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Bank of England's clever swap shop
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Can the Bank's £50bn save the economy?
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Bank governor insists bail-out will not be a bottomless pit
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Chancellor will urge lenders to pass on rate cuts to borrowers
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The banks must pay a price for their hubris
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Abbey raises rates despite bailout
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Tempus: Cash withdrawal
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RBS banks its future on £12bn cash boost
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RBS seeks record £12bn - but who's next?
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Royal Bank job fears
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British Banks Now Required to Help Customers in Financial Trouble
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House prices to slide 20%
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Netherlands:

Third bankruptcy for Commodore
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Italy:

Lawyer says Italian court allows Parmalat to sue Citigroup
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Parmalat to Seek $16 Billion From Citigroup
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EU:

ECB's Trichet Says Market Correction Is `Not Over'
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Canada:

Biovail takes a hit
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Canada Poised To Cut Interest Rates To Boost Growth
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Japan:

Mitsubishi UFJ Banking Chief Not `Panicking' Over Subprime Loss
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Russia:

Barclays Capital Chief Warns Russia Cannot Avoid Stormy Seas
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When Visiting Russia, Check Your Luggage For High Powered Ammunition
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Korea:

Samsung chief to step down; sorry for tax scandal
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Germany:

Duesseldorfer Hypo Rescued by Bank Group After Crisis
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