April 28, 2008

Daily Bankruptcy News

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Law:

O'Melveny in disarray as UK dream goes sour
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O'Melveny's strategy flaw
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Lovells in talks to recruit O'Melveny heavyweight
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Weil Adds Restructuring Partner
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Layoff Watch: Sutherland Asbill & Brennan
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Perk Watch: More Parental Leave
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Foreign Corruption Now Big Business
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Risky business, please
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Paul Hastings Secretary Killed in Apparent Murder-Suicide Outside Atlanta Office
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SCOTUS: Looking for Love
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Freshfields 'superhero' O'Brien voted back into equity
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Shearman ditches global GC in rejig
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Feds seize $13.3M in property they say Orlando venture capitalist, former bankruptcy lawyer, embezzled
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Famous Lawyer Who Bribed Judge Faces Ex-Partner Looking for $15 Million Over Fees
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Another NY BigLaw Firm Prepares for Changes in Top Leadership
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Despite Recent Moves, Laterals Still Not Common in Plaintiffs Firms
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Slim Fee, Harsh Words for Attorney's Handling of Record Dram Shop Case
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Allen & Overy's BlackBerry patent win soured as costs inquest criticizes hours tally
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Quinn Emanuel hunts barristers for London launch
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Judge of the Day: Ana Gardiner
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Former cop in Pellicano case could get mistrial
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A Witness Startles Court in Pellicano Trial
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Valley attorneys bustling to help people with nowhere else to turn
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April 2008: The Month of Arbitration Flagellation?
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To Delete or Not to Delete? Not Doing So Puts Deal Lawyer on Hot Seat
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Lawyer of the Day: David Laufman, Friend of the Mini-Dulcimer
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Will Gerry Spence's Winning Streak End?
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Women and Law Firm Leadership
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Credit Card Receipt Case Yields Sundaes, Soup . . . . Attorneys Fees
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Bidding out legal help not a good idea
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BlackBerry Clicks Can Up Company Costs
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Jack Abramoff's Ties Ran Deep at the DOJ
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Bill Cosby Teams Up With Ga. Judge to Decry Culture That Accepts 'Uncivilized' Behavior
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Ave Maria to Relocate Law School Once Again
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White powder at federal building forces evacuation
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Mistakenly Revealed Logbook Has Lawyers Convinced They Are Monitored
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Service by Mail calculates response and objection deadlines
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Irate Judge Rules in Dog Custody Case: Give Puddles Back!
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D.C. Madam's Civil Lawyer Is Suspended for Three Years
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Judges:

Judge Stinnett Re-Appointed To Bankruptcy Post
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Late brother was 'great influence' on winner's life
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Judge Charged With Indecent Exposure
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Judge Slapped Down for Being Too Tough on Firm That Courted Then Spurned Him
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Former '60s Radical, Now a Judge, Still a Magnet for Trouble
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Profs Protest Commencement Address by Justice Clarence Thomas
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Scalia Admits to 'Down Times,' But Says Situation Is Now 'Less Dire'
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Wall Street:

Wall Street looks for cues from Federal Reserve meeting
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Dow ends week with a smile but economy still in question
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Stocks head for higher open amid merger talk, earnings reports
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The Stock Market's Biggest Losers
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A Market That Dashes Assumptions
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Hopeful Signs of a Recovery
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J.P. Morgan to Detail Post-Deal Plan
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JPMorgan to announce M&A restructuring Mon.
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Wall Street, Run Amok
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Nuveen struggles to cash out its ARS holders
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Bear Market Fat Lady Has Not Sung
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M&A:

Clear Channel Won't Face Lenders' Buyout Suit in New York
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The moribund 3Com deal is near an important deadline. Lawyers, prepare your briefs
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Newspapers:

Reluctantly, a Daily Stops Its Presses, Living Online
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Daily News auction set
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Student Debt:

Lower rates make consolidation of federal education loans look more appealing
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Students Feel Squeeze as Lenders Retreat
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Municipalities:

Bankruptcy filed, tiny town hopes to rise again
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History Hints a Recession Would Hit NYC Hard
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Furniture:

More signs of troubled situation
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Start-Ups:

Failed start-ups quietly disappear into the shadows
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Tech:

Pay by Touch's backers claim fingers burned
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Telecoms:

Vonage lines up $215 million in financing
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Pensions:

How We Got Into This Pension Mess
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Wal-Mart suit hits 401(k) fees
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Claims Trading:

Transferred Rights Under LSTA Purchase And Sale Agreements After M. Fabrikant & Sons, Inc.
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Accounting:

Accountant Guilty of Helping CEO Commit Fraud
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ICAEW urges for insolvency confidence
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Guidance for fair-value accounting coming, says SEC's Atkins
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Food/Drink:

IBC real estate sale cleared
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Cott Reports First-Quarter Loss on Higher Costs for Commodities
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Retailing:

Radio Shack's Net Income Falls 8.7%
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Financial Literacy:

Students hear downside of credit
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Corporate Governance:

Risk climbs to top of corporate to-do list
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Real Estate:

Loan Industry Fighting Rules on Mortgages
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Kimball Hill ratings cut to 'D' after Chapter 11 filing - S&P
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ResCap's indie directors flee, spurring ratings cut
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How the Rich are Different: As Foreclosure Looms, They Can Pay
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Subprime-related lawsuits clogging courts
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Capri condo developers settle bankruptcy case
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Criminal charges possible in Premier blowup
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The pros and cons of short sales
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Sometimes banks forgive
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Unfinished homes wait for builders
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Real estate guru may don stripes
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A title wave of defaults
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First-Time Home Buyers' Few Options
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Bankruptcy court to review Jomar Building's cash assets
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Developer says bank left him high, dry
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Lawsuit crucial to condo buyers trying to nix deals over 'adverse' changes
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Sacramento-area home starts fall 66 percent in March
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The Bay State's Foreclosure Blues
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Cash gap paralyzes Regency, Iowa's top home builder
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Foreclosure Crisis Causing Havoc in Courts
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Calpers-Linked Land Partnership Gets Default Notice
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Lessons from the mortgage mess
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Mass production is a good fit for housing woes
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Homebuilder Earnings Reports and Other Struggles
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How Inequality Drove the Subprime Mess
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Distressed Investing:

The New Vulture Investors
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Economy:

Fear and Loathing Among Consumers
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Fed expected to cut rates, but focus will be on its words
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With Slump Paramount, Fed Is Likely to Cut Rates
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Consumer sentiment drops to 26-year low in April
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Fed accepts dodgy collateral in race to bottom
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CFOs see tough times ahead - but not for their own companies
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Here's stimulus: What you need to know
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Oil Rises to Near $120
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Where's The Oil?
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What will you do when gasoline hits $6.67 a gallon?
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Environmental Cost of Shipping Groceries Around the World
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Nationalism Frays Global Ties
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Recession Diet Just One Way to Tighten Belt
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Aviation:

All-business-class niche airline Eos folds
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Eos bankruptcy filing signals end to cheap executive travel
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Eos Airlines Files for Bankruptcy, Plans to Shut Down Immediately
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As Eos Goes Under Risks Rise At Other Airlines
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Last Dawn For Eos Airlines
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Airlines need to re-learn R-E-S-P-E-C-T
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Continental and United Said to Be Closer to a Merger
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Continental Air to Shun Mergers, Remain Independent
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Continental Air Board Supports Mgmt's Recommendation To Not Merge
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Who's Left in the Airline Merger Party?
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Aloha Pilots Hold Strike Until Monday Hearing
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Aloha unit buyer will try to keep workers
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ExpressJet Says No To Consolidation, American, Yes
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American employees unlikely to accept cuts
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UAL Nears Merger Partner Choice
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Any UAL deal will be faster than Delta-Northwest talks
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United announces third fare hike in two weeks
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No signs of easing FAT's financial woes
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What's an airline passenger to do
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Stop The Madness, Start the Mergers
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Airlines and bankruptcy
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Stormy sky for airlines sure to rock consumers
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Soaring fuel costs limit prospects for ultra-cheap carriers
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Jewelry:

Henricks Jewelers hopes to hold onto its business amid bankruptcy
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Health Care:

Cash Before Chemo: Hospitals Get Tough
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Tier 4
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Dental Clinics, Meeting a Need With No Dentist
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Humana's Net Rises 13% On Sizable Claims Drop
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Changing health-care system
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Ha ha ha health reform
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Religion:

Claimants support diocese plan
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Healing comes from congregations, not pope
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Hedge Funds:

New Face of Hedge Funds Isn't Shy
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Personal Finance:

Raised in boom times, many Gen-X and Yers see their dreams go bust
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In Tough Economic Times, People Pile On Debt
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Bank of Mom & Dad
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News To Know
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More Households Struggle to Pay For Utilities
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Insider Compensation:

Pay Gap Fuels Worker Woes
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Credit Cards:

Credit Card Cos. Can Be Sued for Forcing Arbitration, 2nd Circuit Says
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Appeals Court Reinstates Arbitration/Credit-Card Suit
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Credit card rates hustle higher
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AmEx Writes Off $1 Billion in Card Balances
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Adult Entertainment:

Go West sale looks slim
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Utilities:

REC to seek Ch. 11 trustee
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Rating Agencies:

Citi pressures Moody's on muni rating system
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Software:

Novell turns tables on SCO Group
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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)
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T-REX
Sell your bankruptcy claim to the highest bidder
Distressed Debt Auctions

Middle Class:

America's Middle Class, Better Off?
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Mining:

Asarco legal drama to unfold shortly in 2 courtrooms in Texas
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Asarco, redux
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Cleanup deal expected from Arco, Asarco
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Grupo Mexico to propose Asarco asset auction plan
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Banking:

Big Fine Set for Wachovia to End Case
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Wachovia To Pay $144 Million For Bilking "Gullible" Seniors
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Wachovia faces money-laundering probe
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Where Was the Wise Man?
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Buyout firms afraid of missing boat may open wallets to banks
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Citi denies Pandit talking crisis management with H-P's Hurd
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Huge RBS markdown shows crunch may be long way from over
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Banks rescind letters of credit
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Horse Racing:

Permanent New York franchise in limbo until July
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Oil/Gas:

Superior Offshore International Announces Filing of Chapter 11
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Superior plunges into Ch. 11
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Vallecito fraud charges to be heard
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House Democrats want FTC to probe possible gas price fixing
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Autos:

Strike lowers Axle's profits
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Debt-laden consumers push delinquent auto loans higher
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Kerkorian Discloses 4.7% Stake in Ford, Seeks More
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Kerkorian Gives Ford a Thumbs-Up
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Auction to Bid for Diamond Glass Slated for June 5
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Lawsuit between Gail Duncan, Ford Credit settled for $1M
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Kamylon Capital gets Forgitron
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Motive in UAW threats unclear
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Auto Lender's Charge-offs Jump 61%
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RVs:

Monaco lays off 600, including 300 in Oregon
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Forest Products:

$37 million Mike Horse settlement reached
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Best Palco solution would be a compromise
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Music:

A Jazz Lifeline to Academia Is Severed
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Stock Brokers:

E-Trade CFO and general
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Corporate Reform:

Stop the Business-Busters
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Stock-Fraud Bust Emboldens SEC; The 'Cop is on the Beat'
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Prosecutors in fraud case look to take executives' assets
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Credit Counseling:

Debt settlement doesn't equal credit counseling
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Resorts:

Pivotal seeks OK for second DIP
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Finance:

Is Finance's Economic Role Ebbing?
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High-grade bond sales break record in 'race for capital'
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Junk-Bond Market Smelling Better
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Personal Bankruptcy:

Bankruptcy laws are an American strength
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Research Guide: Projected Disposable Income under Code section 1325(b)
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Metals:

Sturgis Iron and Metal begins layoffs
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Bankruptcy Research:

The Corporate Governance and Public Policy Implications of Activist Distressed Debt Investing
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Free Bankruptcy Research Tool Available Online
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Fraud:

Investors in defunct Hanover Corp. will get their day in court
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UK:

The man who said 'no' to bank charges
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Mortgage giant braces itself for bumper write down
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HBOS May Seek to Raise Capital
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GTE creditors bring in second liquidator
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Liquidators seek interview with Ferrari crash Swede
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RBS to axe jobs as ABN impact, credit crunch bite
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High-street savings war erupts as banks try to boost cash reserves
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Japan:

Japan inflation hits 10-yr high
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New Zealand:

Proof there is life after debt
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Canada:

Montrealer indicted in US on fraud charges
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Canadian Investors Approve C$32 Billion Debt Plan
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Creditors give go to ABCP plan
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TV layoffs spark constitutional clash in Quebec
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The Next New Thing - Distressed M&A
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China:

Bank of China Posts 85% Rise in Net
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India:

Press finds a 'Royal' mess in city
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Russia:

Russian ministry sees law on personal bankruptcy introduced '09
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EU:

Europe's Economic Slowdown Will Stretch Through 2009
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