February 13, 2008

Daily Bankruptcy News

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Law:

Closing Arguments Heat Up Duane Morris Malpractice Trial
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The Story Behind the Reed Smith/Anderson Kill Story
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Skadden Insider: Hot or Not?
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Skadden's Hotness Contest, Chilled By the Powers That Be
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Pay Raise Watch: Locke Lord Bissell & Liddell
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Pay Raise (and Associate Bonus) Watch: Blank Rome
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Bonus Watch: Bingham McCutchen
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Perk Watch: Covington & Burling
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Mulling a summer associate offer? Think fast
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BlackBerry's Lead at Risk After North America Failure
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Cell Phone Use in Car Leads to $5.2 Million Payout by Employer
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Scruggs's Lawyer Cites "Outrageous" Government Conduct
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Roger Clemens' Road to the Hot Seat
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Pettitte Excused from Testimony in Rocket Roid Case
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Law Firm 'Bribes' Staff to Use Wiki
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Dickstein Shapiro Wins $431.8 Million Patent Verdict
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Hedge funds and institutional investors are financing the latest wave of IP lawsuits
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Lawyer-Sleuth May Solve 100-Year-Old Forensic Murder Mystery
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Retired Doc May Buy Troubled Law School, Administrators Resign
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Turmoil at William & Mary - Law School Dean Takes Over as President
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Say What?!
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Lawsuit of the Day: So Is Raelyn Campbell's Laptop Worth More Than Roy Pearson's Pants?
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Jeremy Pitcock Has Left the Building
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Bonds:

Buffett calls bond insurers' bluff, short sellers say
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Nothing risked, something gained
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Behind Buffett's Bond Gambit
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If bond insurers reject Buffett, regulator may push similar plan
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Buffett Offers Aid on Bonds, but at a Price
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Municipal Investors Skeptical of Buffett Bond Insurance Plan
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Buffett To The Rescue!
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Bail Out The Bond Insurers
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Phila. firm buying bond insurer's unit
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Economy:

Fed's Yellen Says Threats Remain, Indicating More Cuts Are Coming
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With credit spreads still rising, Fed may wield axe again
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Fed's Poole Says `Best Bet' Is Economy Will Avoid a Recession
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With the Stimulus Package, the Big Winner Could Be Small Business
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Economists' Tea Leaves Point to Recession
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Bush Ready to Sign Economic Aid Package
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A Look at Economic Stimulus Package
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Horse Racing:

Report: NYRA tracks to remain open
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The deed is done. Or is it?
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NYRA deal is reached
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Mass Torts:

WR Grace Seeks Loan Extension
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Cooper Industries Declares 19% Dividend
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Forest Products:

Pulp Producer to Sell Mills
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Telecoms:

Lightwave rings up Ch. 11
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Politics:

Congressional Races Reflect Importance of Housing
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Democrats Slam Subprime 'Project Lifeline' as Too Little, Too Late
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Builders: No More Campaign Contributions
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Is Obama Good for Business?
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Education:

Flight students aim for their own school
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Banking:

Commonwealth Bank's Default Risk Rises to Record
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Activist investor group asks WaMu, B of A boards to account for subprime losses
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Credit Cards:

Moody's Outlook for Card Sector is Negative
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Revolving Credit Rollercoaster
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$175,862.27 in Credit Card Debt and a Bleg
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Real Estate:

Lenders Unveil Plan to Stave Off Foreclosures
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Critics say Project Lifeline is 'rhetoric'
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Will the Mortgage Industry Fix the Mortgage Mess Itself? A Look at Project Lifeline
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Mortgagees rip 'Band-Aid'
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Defaulting Mortgages Were Unaffordable from the Outset
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Homeowner Loan Crisis Gets Feeble Life Line
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Rust and Sun Belt cities lead '07 foreclosures
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Did terrorists cause housing mess?
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IndyMac suffers first annual loss in 23 years
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IndyMac blames Congress for its problems
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US Fed chief says 'worst is just beginning'
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Foreclosed homes on market multiply
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Mortgage Applications Index Declined 2.1% Last Week
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Shareholders go after subprime lenders for their losses
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Suit Claims Title Insurers Paid Kickbacks; Trade Group Cites Lawyer, Broker Pressure
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Housing-Boom Collapse Spurs New Scrutiny for Title Insurers
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Masco Predicts More Housing Trouble
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Lenders Agree to 30-Day Hold on Foreclosures
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Mortgage crisis is growing, now affecting prime borrowers
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Sue The Subprimers?
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Mending the Mortgage Mess
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Homebuilders and bankruptcy
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Broward builders accused of defrauding dozens of homeowners
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PFP seeks OK on sale
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The Housing Bust Shakes Up Rentals
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Office Rents Gained 14% Globally in 2007, Led by Finance Firms
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Overleveraged Macklowe could lose NYC skyscrapers
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Struggling Homeowners See a Solution in Arson
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Autos:

GM: More buyouts after record $38.7B loss
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Bush asserts faith in GM
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GM mum on plan for struggling Delphi
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Delphi's Bankruptcy Exit Hits Snag
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Delphi may need help on exit financing
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GM offers buyouts to 74000
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GM workers again ask: Should I stay or go?
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Workers skeptical of buyout packages
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GM Limps Toward Recovery
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GM posts record US auto loss for 2007
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Details of GM's new buyout offer
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GM faces long, slow climb in U.S.
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Epic financial pileup at GM
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Another bidder for Delphi
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Hargrove 'fearful' for future of GM, Ford
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Chrysler dispute to return to court
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Stakes huge in Chrysler dispute with Plastech
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Plastech sale OK'd pending financing
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Health Care:

Tapestry Pharmaceuticals prepares for bankruptcy
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Aviation:

Aspen airline gets extension on liquidation plan
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How to Merge Two Airlines
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Merger may aid airline workers
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Northwest chief: Merger must provide job security
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Delta CEO Waives Merger Pay
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Furniture:

Domain Home to Hold Bankruptcy Liquidation Sale
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Student Debt:

For-Profit Student Lenders Win Again
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Students victimized by predatory student lending practices
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Credit Woes Hit Student Loans
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Health Care:

Lancaster hospital to close Thursday
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Pensions:

Corporate pension plans lagged other large investors in '07
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Mining:

Asarco hustles to locate savior
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Predatory Lending:

Payday Lenders Flout Law on Seizing Gov't. Benefits
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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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Hedge Funds:

Oxford Funding Buys $2.7 Billion In Loans At 70% Discount
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For some hedges, downturn may be planting season
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Bankruptcy Statistics:

The December Effect
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Insurance:

AIG Says Potential Derivatives Loss Not Material
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Retailing:

Harvey's Creditors Delay Bankruptcy Loan
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Motorcycles:

Issues rise with GMG sale rules
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Wall Street:

US Stocks Head for Higher Open
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FTSE loses ground
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German Stocks Fall
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Alternative Fuels:

CIE lender wants to make credit bid for ethanol plant
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Recording Industry:

Dr. Dre To Investigate Death Row Royalties
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Exclusive Interview w/ Hip Hop Mogul Marion 'Suge' Knight
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Shipping:

Sea Containers settles pension flap
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Summit trustee seeks examiner
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Accounting:

SEC: How Ex-PwC Auditor Missed Fraud
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One Way to Meet Targets: Invent Revenues
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M&A Triggers Accounting Issues at Firms
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Tax:

Mortgage Workouts, Now Tax-Free for Many Homeowners; Claim Relief on Newly-Revised IRS Form
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Auto Racing:

Confusion reigns amid bankruptcy rumors.
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Champ Car's Walker considers switch to IRL
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Luggage:

InGear packs bags for bankruptcy
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Derivatives:

How did OTC Derivatives Get School Districts into Trouble?
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Electro-Chemical Technologies facing involuntary bankruptcy
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UK:

Virgin reportedly told to improve Northern Rock bid
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Virgin is front-runner for N. Rock rescue
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Man who refused to pay mortgage for 15 years is granted 'squatters' rights'
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Bank of England Indicates Scope For Rate Cuts Limited
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BoE's King says it is quite possible UK house prices will fall in 2008
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More Tees firms heading for bankruptcy, say experts
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Debtmatters gets out of IVAs after bank pressure
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U.K. January Unemployment Falls to Lowest Since 1975
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Deloitte tends Whistlejacket reorg
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Defaults Pick Up Steam As Economy Hits Speed Bumps
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Canada:

Coventree to Close, Saying Business Is Not Viable
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Japan:

Japanese banks' subprime losses hit 5.6 billion US dollars
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Japan Jan Corporate Bankruptcy Cases Up 5.5% On Year
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Japan Jan corporate bankruptcies up 7.6 pct yr/yr
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China:

China to issue guidelines regulating bankruptcy law
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New bankruptcy act for banks proposed
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