April 3, 2008

Daily Bankruptcy News

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Law:

Proskauer Rose to set up shop in Chicago
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Class action king pleads guilty to racketeering
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Wiretap could be played at LA Pellicano trial
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Vengeful investor and cheating wife testify in trial
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Law Firm Mergers Hold Steady, Firm Reports
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Bonus Watch: Covington & Burling (Washington, D.C.)
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Survey Results: Which Firm Would You Most Want To Work For?
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Crisis benefit lawyers and foreclosure experts
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Is the Billable Hour Costing Your Firm Money?
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Secrets of Work/Life Balance From That '70s Law Firm
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Firm brings associates onboard to appraise partners
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The Fine Art of Deal-Making Gathers Dust
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Sexual Orientation a Factor in DOJ Attorney-Hiring Practices
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Scruggs Still Fighting . . . This Time to Keep his Law License
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Bankruptcy court's ruling sends attorney fee case to state court
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Dewey & LeBoeuf Names New Head of Paris Banking, Finance Practice
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AGs Tell Companies: Shred It, or Regret It
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Encrypted E-Mails Can Protect Your Firm
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18 States Going to Court to Force EPA to Respond to Supreme Court Ruling on Global Warming
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A Cowgirl Rides the Circuits; Retired Justice Sandra Day O'Connor puts her brand on federal appellate courts
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Biff! Bam! Wallop! 2 Lawyers Duke it Out in Courthouse
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Judge Says Kicking White Lawyers Out of Courtroom Was 'Mistake'
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Judge Allows Abetting Claim Against Law Firm Under State Securities Fraud Law
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Say What?!
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9 "Sure Bets For The Future" Attorneys Should Watch
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Judges:

Judge on the hot seat - Public should learn if federal district judge is punished
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Judge in Drag Charged With DWI Reconsiders Resignation
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Judge in DUI case buoyed by support
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Judge in Hot Water over Letters in Libel Case
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Judge Elizabeth Halverson Update
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Wall Street:

Bernanke Recession Talk Hits Market Late
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Stocks set for bumpy ride
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European exchanges close up
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Rally in resource stocks lifts Asia to broad gains
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Fed Staff On-Site at Five Big Brokerages
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Fed Aided Bear Stearns as Firm Faced Chapter 11, Bernanke Says
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Could Bear Stearns Have Filed for Chapter 11 After All?
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Details Of The Bear Deal
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US markets decline Wednesday
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Bernanke: Bear Stearns wasn't a bailout
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From Paulie, with love
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How Lehman aced its liquidity test
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UBS, Lehman Raisings May Signal Rout Is Nearing End
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Health Care:

SSM Health Care to close St. Francis Hospital
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The hospital they just couldn't save
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Omega Healthcare Shares Slide
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From Healing the Inside: Reorg as an Opportunity for Inclusion, Improvement
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Rearrested executives deny plot to flee US
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Healthcare M&A trends
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Autos:

Moody's poised to downgrade American Axle
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UAW chief says Axle talks remain 'very difficult'
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Stakes rise for GM, American Axle
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How bleak does Ford's, GM's future remain?
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Dad's factory dream job is today's rocky career path for son
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400 Chrysler tech jobs go
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Johnson Rubber Can Close Auto-Parts Unit
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Car Repossessions At 10-Year High As Economy Sags
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Fitch: March Shows Normal Seasonal Improvement for U.S. Auto ABS Delinquencies
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Retiree plan salvaged at Dana
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Lexington catches Ch. 11 bug
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Customers could bail out Plastech
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GM May Offer More Help to Delphi
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Diamond, Lexington and the sad parade of auto parts bankruptcies
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Blue Water gets final DIP OK
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Aviation:

ATA discontinues all flights, files for bankruptcy
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Southwest rebooks, refunds its ATA users
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Southwest Ends ATA Codeshare Deal After ATA Files Bankruptcy
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Another Airline Goes Broke
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Northwest's Pyrrhic Victory?
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Alitalia Pushed Closer to Bankruptcy as Air France Ends Talks
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Alitalia on verge of bankruptcy as talks end
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Alitalia Shares Suspended; Board to Meet
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Au Revoir, Alitalia
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Air France Ends Alitalia Takeover Bid; Prato Resigns
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Alitalia's hopes down to a wing and a prayer
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Aloha Asks Judge To Force Cargo Pilots To Work
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'I had faith in the system,' says 38-year Aloha worker
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Reality hits Aloha Air workers
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FAA investigating 4 airlines on maintenance issues
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Lawmaker says ties between FAA, airlines too cozy
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Union leader put on leave after comments
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Insurance:

Failure Of Insurer Leaves MDs, Patients In Lurch
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Poe management accused of diverting millions
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Real Estate:

Fannie Mae Tightens Loan Standard to Protect Itself
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Fannie Mae says no to credit scores below 580
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Mortgage access shrinks in 1Q
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Where Are the Problem Loans?
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Judge OKs fed subpoenas of Countrywide
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UST Turned Loose on Countrywide
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Senate Leaders Agree on Housing Relief
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Senate arrives at a compromise on housing, but vote will be tough
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Getting Housing in Order
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More than 50 Lakewood homes being auctioned to recoup Dwek's debts
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Hope Now's Successes May be Over Rated
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NovaStar Financial Says Future is Shaky
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Another deadline, another wait for Trump Tower Tampa
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Boise Place bankruptcy parties given 30-day extension
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Creditors to lose about $80 million in Fergus bankruptcy
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FTC Looking at Bear Stearns Mortgage Unit
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Foreclosure Trickle Down Being Felt By All
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MI: Granholm Signs Law For Foreclosure Relief
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Foreclosure Numbers Rising Rapidly In NYC
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Mortgage Counselors Cope With Unwelcome Boom
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Dana Villas reaches agreement
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Federal indictment charges six in $15 million mortgage scheme
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Minneapolis Files Lawsuit Against Firm Linked to North Side Foreclosures
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Unsold Homes Tie Down Would-Be Transplants
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Economy:

Bernanke Says Economy May Slip Into Recession
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What Bernanke Didn't Say
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Why Bernanke's still hedging
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Report says US gained jobs in March
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Factory orders dip more than thought in Feb.
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Paulson in China: 'More bumps' ahead on credit
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World economy headed for rough year and a half, predicts Fitch
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U.S. Slump Takes Global Toll
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Rice Jumps to Record, Corn Near High as Demand Outpaces Supply
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Stiglitz says bonus culture intensified credit crunch
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Credit Cards:

TJX, MasterCard to Settle
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Credit Card Redlining
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Corporate Reform:

Up to $16 billion fine against Chevron advised
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Adelphia founder seeks dismissal
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Health Care:

FBI: National Century corporate defendants planned escape
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Rating Agencies:

UBS rates the raters: Fitch best, Moodys worst
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Derivatives:

Lawmakers consider regulating credit default swaps
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Accounting:

Lawyers are predicting a flood of claims
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Charges vs. Ex-Andersen Auditor Dropped
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Credit crunch sparks fair value revolt
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Food/Drink:

Interstate Bakeries asks lenders for more money
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Xyience goes to Manchester Consol
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Oil/Gas:

Superior Offshore shares sink after liquidity warning
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Horse Racing:

Panel faults no-bid NYRA contract
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Bonds:

Demand for U.S. bonds flagging as lenders eye corporate debt
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Politics:

Democrats Getting More of Big Four Donations
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Layoffs:

Google to Lay Off About 300
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Forest Products:

The PALCO bankruptcy: MRC offers the solution
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Which plan for the future of Pacific Lumber Co. ? Redwoods at risk
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Trucking:

TRL bankruptcy case expands
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Quotes:

"Life doesn't stop at bankruptcy. I'm still going to galas or doing philanthropic things." (scroll down - Cabot)
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Software:

Insolvent SCO scraps its reorganization plan
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M&A:

PE firms continue to rake in cash
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Book Reviews:

How Judges Think - Part 1
Part 2
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Taxis:

Taxi Tech finds no takers
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Tax:

IRS Should Have Gone for a Baker's Dozen with RAL
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Predatory Lending:

AR: Attorney General's Office Demands Cash Flow Stop for Payday Lenders
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Financial Literacy:

Financial literacy class can pay off for young adults
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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

Bankruptcy Reform:

Sources say bankruptcy provision is out
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Senate Ignores Help for Homeowners, Bankruptcy Change the Most Effective Solution
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Brown wants bankruptcy provision in foreclosure bill
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Senators ditch aid in housing bill
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Bankruptcy Statistics:

More Than 4,000 Bankruptcy Filings Per Day in March
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Individual bankruptcy filings up 27%
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Banking:

UBS not at risk of takeover, bankruptcy, minister assures
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Nat'l City taking a long time to sell itself
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National City may need cleaning up before a sale
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National City for Sale? Shareholders Shrug
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A Stormy Decade for Citi Since Merger
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Jobs vanish in commercial banking sector
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Banks put the squeeze on SME owners
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FMLA Verdict Could Cost Chase Manhattan $7.6 Million
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Gambling:

Herbst Gaming's troubles deepening
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Las Vegas-based owner of Iowa casino owes $1 billion, faces bankruptcy
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NJ agency meets on Tropicana
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New Jersey to casino: Trop dead
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Agency refuses to give back Tropicana assets
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Religion:

Judge OKs disclosure statement for diocese settlement
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Abuse victims to get a say in diocese settlement
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Enron:

Experts: Skilling now has real shot at overturning convictions
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Judges in Skilling Argument Hold Cards Close to the Vest
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Skilling's Lawyer Stresses Honest-Services Issue at 5th Circuit
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Enron onlookers bring cocktail party atmosphere to court library
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Resorts:

Promontory Ranch Club granted Chapter 11
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Ruling allows Park City club to keep operating
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Credit Suisse's Troubled Rocky Mountain Empire
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Hedge Funds:

Plexus Partners hedge fund loses third of its value
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Real Estate Hedge Fund Suspends Redemptions
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Hotels:

Village finds shelter in Ch. 11
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Immigration:

Restaurateurs lose bid to recover raided items
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Pensions:

Dying breed? 3M latest sponsor to ditch its DB plan
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Advertising:

Interep wins interim DIP approval
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Consultants:

FTI Fumbles As Market Firms
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Media:

Equity Media Loses $40.7 Million in 2007, Bankruptcy Possible
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TV firm struggles to survive
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Insider Compensation:

Gauging Impact of IRS Rule on Performance-Based Compensation
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UK:

Rock shareholders blast bank on aggressive writedowns
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UK in debt binge as mortgage tap closes
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Britain faces up to the prospect of house prices American-style
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Credits Poised For Downgrades Reach New Record, Says Report
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Canada:

Beef packer Gencor Foods shuts doors
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Program caps led Stomp into protection
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Receivership Proceedings Commence for the Madill Group of Companies
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Nanaimo-grown forest firm falls
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Canadian Bankruptcies Increased in February
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Alberta government quietly reviewing whether to regulate payday loan industry
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Quebecor World Amends DIP Credit Agreement
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Another downside to a load of debt
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Germany:

WestLB seeks partner after rescue
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WestLB to slash staff after losses
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Thailand:

Thailand - Restructuring victory
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Spain:

Colonial to meet creditor banks
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Austria:

Austrian wireless ISP Mywave files for bankruptcy
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Russia:

Shearman and Cleary gear up for mammoth Yukos dispute
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