April 8, 2008

Daily Bankruptcy News

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Law:

Greenberg Traurig on the Defensive as Abramoff's Guam Dealings Blow Up
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Bankruptcies Will Be Number One Growth Area for 2008
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Failed NY Firm's Partners Should Pay $12 Million, Report Says
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On Life Support - Was the formula for a good work/life balance figured out in the 1970s?
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N.Y. Law Firm Bans BlackBerrys at Major Meetings
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Reed Smith Takes Chance on Contingent Fee Case -- and It Pays Off
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Willkie Farr Out Behavior: Bizarre Emails From An Incoming Summer Associate
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Dealmakers of the Year
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'Shock and Awe' in D.C. Madam Case
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Firms turn attention to environmental issues
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Mandatory Arbitration and Law Firms: a Very Delicate Balance
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The Worst Places To Get Sued - By Far!
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Law firm bosses meet for transatlantic summit
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Lawyer Testifies at Rezko Trial on His Life in the Fast Lane
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San Francisco Sues Provider of Arbitrators, Alleging Bias
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Nixon Peabody Adds To Bankruptcy
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BigLaw Firm Faces Financial Hit In Bankruptcy Case, While Partner May Face Criminal Charges
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Bankruptcy, Litigation Lead Legal Hiring Trend
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Dissent Without Limits? Can You Vote Against Something That You Can't Vote For?
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Lawyers in State Farm Suits Barred for Payments to Witnesses
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London Firms Announce Bumper Crop of New Partner Promotions
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Laid Off NY Lawyers Landing at BigLaw Firms Building Up Structured Finance Groups
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Another Lawyer Sex Controversy
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Scalia says he'd have difficulty winning confirmation now
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Scalia Justifies His Jurisprudence: 'I am Not a Nut'
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America's Next Top Justice?
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Woman Gets $2.1 Million For Claim She Was Not Made Judge Because She's White
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Crazed Cardozo Law Revue Wins YouTube Raves
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Say What?!
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April Madness for Law Firms, Final Round: Cleary vs. Latham
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Caption Contest Winner: Mr. Easter Bunny and POTUS
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Hurling A Hedgehog: Assault With A Weapon
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Law Student of the Day: Baseball-Card Hoaxer, Sensen Lin
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Bankruptcy Reform:

Homeowners' bankruptcy creates a political split
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Oil/Gas:

Blast Energy Services Enters Into Settlement Agreement With Hallwood Energy For $6 Million
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Currency:

Yen, Swiss Franc Fall as Stock Gains Increase High-Yield Demand
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Awards:

Jo Ann Brighton Appointed to American Bankruptcy Institute Board
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Events:

Nationwide Default Industry Association Holds Spring Conference
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Consultants:

FTI's Siren Song
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Predatory Lending:

I'll pay you Tuesday for payday loan today
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Hedge Funds:

Deloitte and Bear Stearns face $1bn law suit
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HSBC's Halbis says hedge fund deleveraging over for now
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Hedge fund manager earns $3bn in 2007
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Bedell to act in liquidation of Carlyle Capital Corporation hedge fund
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Hedge fund managers make mint on housing crisis
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Basis Fund Withdraws Bid for US Protection as It Liquidates
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Hedge funds seen suffering painful start to the year
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Commodities:

Rice Run Prompts Curbs to Rival Credit Market Seizure
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Fraud:

Suprema finance chief sentenced to prison
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Ex-United Rentals president charged with insider trading, fraud
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Iron City savior charged with fraud
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La Jolla Attorney Going To Slammer
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Making millions from fraud
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Newspapers:

Seattle Times to cut about 200 jobs
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Journal Register Stock Plummets On Bankruptcy Report
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Tax:

Taxes Elimination Through Filing Bankruptcy Under Different Chapters
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11th Circuit Deals Blow to Marathon Tax-Evasion Case
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Tech:

Cornerstone assets to be abandoned
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Real Estate:

Subprime Mortgages: Rescue lite
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A Looney Housing Rescue Bill
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A Feckless Foreclosure Fix
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Senate Payout Plan for Builders Lobby
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Foreclosure bailouts are unfair to taxpayers
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Senate just waves at borrowers drowning in subprime debt
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Critics warn Senate bill might spur foreclosures
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CO Lawmakers Take Up Measure To Crack Down On Foreclosure Fraud
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9 Mortgage OH Lenders Agree To Compact to Slow Foreclosures
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Boston Hill owner changes his mind about bankruptcy
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Foreclosure counselors in high demand
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Are banks turning occupied homes into abandoned eyesores?
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Dyer mountain development goes bankrupt
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Phoenix Area Foreclosures Increase 35 Percent in March 2008
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One Hour Notice On Foreclosure Isn't Enough, Woman Tells BofA
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Mortgage Bankers Association Hit With High Rates
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Aviation:

Who's the next airline to go bankrupt?
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Stranded flyers work to get home
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When Airlines Fail, Fliers Have Few Protections - Law's Lapse Leaves Carriers With Little Incentive to Honor Tickets From Defunct Rivals
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Delta and Northwest revive merger talks
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Skybus files for bankruptcy after airline shuts down
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Skybus founder wants to get it flying again
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Skybus refers customers to credit card companies for refunds
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Skybus owes creditors up to $100 million, bankruptcy filing shows
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Skybus Failure Signifies Fragile Industry
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Airline closing leaves other firms in lurch
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Skybus won't deter officials
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Carriers Offers Special Fare For Skybus Passengers
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Inouye plans hearing on air travel
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Aloha cargo in limbo as negotiations go on
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Aloha: Airline first of many to shut down
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ATA Bankruptcy Forces AMC Scramble
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Company agrees to buy Adam for $10 million
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Adam Aircraft expected to fly
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Delta struggles to remain in business due to fuel prices
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Air France CEO explains Italian retreat to board
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Alitalia Board Meets Tuesday To Examine Options
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Retailing:

Borders Improves Financing Terms In Pershing Deal
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Linens 'n Things may be headed for bankruptcy
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M&A:

Where Do Breakup Fees Go from Here?
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Student Debt:

National study blasts credit corps' marketing strategies
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The Education Resources Institute (TERI) Files for Chapter 11 Bankruptcy Protection
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Big US student loan guarantor files for bankruptcy
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First Marblehead Statement on TERI's Petition for Reorganization
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Sen. Kennedy Introduces Student Loan Bill
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Municipalities:

Alternatives to ARS debt getting expensive, too
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Bankruptcy is no easy out for Jefferson County's sewer bond crisis
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Jefferson County fails to reach agreement with bond insurers
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Layoffs:

Job winners and losers in hard times
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AMD to cut over 1,600 jobs
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Consumer Debt:

US Consumer Borrowing Rose $5.2 Billion in February, Less Than Forecast
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Fed: Consumer Debt Grew 2.4% in February
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Consumers Pull Back on Borrowing
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Politics:

McCain wants to shine light on huge CEO pay
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Banking:

WaMu finalizing capital injection plan
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WaMu Ditches the Wholesale Mortgage Biz
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WaMu: Only for the Bravest of Investors
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Japan says US banks may need bailout, backs G7 action
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Autos:

American Axle to resume full talks with UAW on Wednesday
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GM may forgo Delphi cash, shares claim
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Manchester agrees to plan, DIP
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Resorts:

Judge rejects Izatys sale
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Celebs:

State says Simpson owes $1.5 million bill
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Could Thomas Conviction Signal Trouble for Barry Bonds?
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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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Mass Torts:

WR Grace settles
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WR Grace to settle asbestos-related claims, shares up
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W.R. Grace asbestos settlement long time coming
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$3 Billion Asbestos Deal Reached by W.R.Grace Company to Pay Asbestos Victims
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WR Grace Settles Asbestos Claims for $1.8 Billion
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Local Rules:

Northern District of California Bankruptcy Court Local Rule Amendments Take Effect May 1, 2008
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Wall Street:

Waxman Asks Fed for Details on Hiring of BlackRock
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Merrill Lynch's Thain Says Bear Rescue Averted Risk
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Bear Stearns workers face job uncertainty
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Merrill Lynch CEO says 'balance-sheet shrinkage' to continue
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Market flat as earnings fears temper credit hopes
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Wall Street worries over earnings miss, job cuts
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Wall St jittery as results season starts
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Futures Retreat on Earnings Jitters
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Bonds:

Auction Collapse Quadruples Fee for Bond Alternatives
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Economy:

A buck that can't be passed
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His Legacy Tarnished, Greenspan Goes on Defensive
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Leveraged Planet
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The silver lining of the credit crunch
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Let the big banks fail
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Greenspan: Blame investors for credit crisis, not me
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Pub offers 20% discount to 'poor Americans'
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Economic Woes Could Be Felt by MBAs of 2009
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Finance:

Small Businesses Use Credit Cards to Make Up for Lack of Loans
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Accounting:

Accounting salaries on the rise
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One Standard, Many Laws
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Forest Products:

Factors combine to make tough times for timber
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Scotia's uncertain future weighs on residents
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Health Care:

Poulsen says informant against National Century execs is lying
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Group studies backup plan for Philipsburg hospital
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Charity Hospital, on Brink, Gets a $200 Million Gift
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Plastics:

Wellman Gets OK to Tap $225M Loan
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Jewelry:

Friedman's gets consulting help
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Metals:

Sturgis seeks use of interim cash
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Art:

Art advisors foresee crash
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Corporate Reform:

Fears That the Market Watchdog Is Losing Its Bite
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S.E.C. Sues 5 Ex-Officials in San Diego
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UK:

Credit limits 'slashed by £3.1 billion'
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UK economy teetering on edge
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Eurotunnel Turns First Annual Profit
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Canada:

What happened to the ABCP billions?
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Japan:

BOJ May Keep Rate at 0.5% at Shirakawa's First Meet
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Japan March corporate bankruptcies up 8.0 pct yr/yr
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Iceland:

Subprime wave sweeps over Iceland
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Germany:

Head of German bank KfW resigns amid problems at IKB
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Israel:

Ministry backs out of Heftsiba deal
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Australia:

Insolvency rates rising
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