February 19, 2008

Daily Bankruptcy News

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Law:

BigLaw Firm Reaps $80 Million From Client's Hard Times
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World beaters
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Less Billing, Tastes Great?
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Despite Summer Associate's Warning, BigLaw Firm Still Entangled in Ponzi Scheme Fallout
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Left Last Year at the Merger Altar, Firm Still Hopes to Hook Up
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Hockett Out of Bingham's Pocket
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Business waits on Supreme Court rulings
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Don't (Only) Sweat the Small Stuff
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Don't Dread the Rule 26(f) Conference
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Lawyer Professionalism Tied To Value Billing?
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Students Prefer Easy Courses and "Hot" Professors
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Creditor Says Young Lawyer Flew The Coop
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Bonds:

Ambac considering option to split itself
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Bond Insurer Split Threatens $580 Billion of Notes
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MBIA Former Chief Returns as Credit Rating Cut Looms
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What about the baddies in a bond insurer split?
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FGIC Split: Let the Lawsuits Begin
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Auction-Rate Turmoil Spreads
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New York Bond Costs Rise as Banks Let Auctions Fail
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Economy:

What You Need to Know About the Rebates
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More Americans buckling under debt
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Sliding into the Great Deflation
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Credit squeeze's potential ripple effects
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Time to Call it a Recession?
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Poll: Leaving Iraq Will Help Economy
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Earnings slump worst since 2001
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Treasuries Fall as Investors Reduce Fed Rate-Cut Expectations
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Wealth destruction gathers pace
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Bankruptcy Statistics:

Bankruptcy rate highest in Tenn. among young people
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Books:

Surprising confessions of a turnaround guy
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Autos:

Chrysler gearing up for shut-down after Tuesday's Plastech hearing
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Cerberus: Chrysler Not As Bad as GMAC
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Wall Street deal makers were shocked by statements in a letter to investors from Stephen Feinberg, the secretive founder of Cerberus Capital Management
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Ford buyout window is wide open
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Chrysler workers split on buyouts
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Telecoms:

Paging Company Struggles
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Personal Finance:

Pay home debt before credit card obligations
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Pensions:

Risky equities lure US pension guarantor
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Corporate Reform:

Governments around the world cooperating on prosecuting corporate crime
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'Whistleblower' website shut by US court over bank documents
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Banking:

Wall St. Banks Brace For a String of Write-Downs
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'Old-fashioned' banks manage to avoid credit crisis
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Banks borrow $50bn via new Fed facility; Unease over indirect government support...
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Credit Suisse Writedowns to Cut Profit by $1 Billion
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Credit Suisse Writes Off $2.85 Billion
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Credit Suisse Suspends Traders
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Qatar Buying Credit Suisse Shares on Open Market, Plans Other Bank Buys
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Credit Suisse's Nasty Surprise
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Barclays ups writedown to $3.1 billion
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Backing Away From Citi
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Bank reserves category goes negative
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Banks may lose hundreds of billions
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The Real Meaning of "Special Interest"
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Accounting:

Foss trustee goes after auditors
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GE Probe Brings Accounting Shift
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Real Estate:

Regulators' Subprime Mortgage Cases
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Countrywide: Henry Cisneros on the hot seat
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For This Niche Industry, Foreclosures Bring a Boom
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Realtors doubt Bush's plan
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First Magnus get OK to liquidate
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Two S. Fla. condo developers file for bankruptcy
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Kennedy Homes lays off staff
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The demolition of the American dream
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North Texas Home Foreclosures Jump 27 Percent
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Foreclosures in Central Texas on the rise
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Riverside-San Bernardino ranks 4th in foreclosures
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Banks unloading abandoned houses at cut-rate prices
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'House Swapping' A Rising Trend In Home Sales
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Is Your Home Still Your Castle as Foreclosures Rise
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Credit Cards:

Interest rates rise for lovers of plastic
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Wall Street:

Wall Street heads for higher open
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European shares rally
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Asian Stocks Rise to Two-Week High
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Equity Trades Defy Economy as Wall Street Transformers Abound
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Wall Street Faces Fury Over Subprimes
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Now, Lehman Gets Pelted
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Bank woes hit FTSE
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Aviation:

Deals in the air: Rising costs force US carriers to seek mergers
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Delta, Northwest pilots reach deal to unite
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Delta Air Lines Said to Be Near a Northwest Deal - Emergency Board Meetings Scheduled for Tuesday
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Delta-Northwest Deal Looks Near
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Airline merger has pilots' future up in the air
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Airline merger talks fuel anxiety, action
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As airlines talk, frequent fliers fret
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Unions a wild card as airlines seek deals
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Airlines better prepared to face tough times
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The Idiocy Behind Airline Mergers
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Municipalities:

Vallejo bankruptcy woes prompt police, fire exodus
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Empty housing costing millions
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Bond Crisis Already Crimping States
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Derivatives:

Misleading Chart of the Day, CDS Edition
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Shadows of the CDS Market
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Sovereign Debt:

U.S. Headed For Fiscal Crisis?
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Gas/Oil:

Where gasoline price increases go
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Finance:

Rate Cuts Stall LBO Debt
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Student Debt:

As Lending Tightens, Education Could Suffer
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Students lament loss in education act
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Golf:

Golf clubs struggling to stay in bounds
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Education:

Attorney Accuses Silver State Helicopters of Fraud
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Financial Literacy:

City pushes financial literacy
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A financial educator's work is never done
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Corporate Governance:

Turnover rate high among nations CEOs
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Economic Downturn Emboldens Shareholder Activists
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Labor:

Alienating Your Best Employees
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Seminars:

Credit Crisis and Fallout...Insurance...Are You Covered?
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A Debtor World: Interdisciplinary Academic Symposium on Debt
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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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Bankruptcy Reform:

Durbin touts housing proposal
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Poverty:

Poverty Is Poison
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Building a Life on $25 and a Gym Bag
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Hedge Funds:

Hedge Funds Holding Up Investors Exposed to Involuntary-Bankruptcy Threat
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Politics:

Clinton and Obama Emphasize Economic Themes
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McCain Says Bernanke Should Have Reduced Interest Rates Faster
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Economy prompts GOP defections
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Health Care:

Health Care And Bankruptcy
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Forest Products:

Pope & Talbot seeks loan extension
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UK:

Northern Rock Will Remain Nationalized for Years, Sandler Says
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Northern Rock: First in a Long Line of Dominoes
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Edwin Coe prepares Northern Rock suit against government
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Rock hedge fund investors could lose up to £135m
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Banks' warning on Northern Rock funding
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LibDems want audit of Rock's loan book
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Shares in RAB hedge fund dive to two-year low
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Job losses and £100m fees: Day One at National Rock
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Financial Crisis Enters Bailout Era
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Litany of missed alarm bells for Northern Rock
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'Many may now rue decision on housing transfer'
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Lloyds, Barclays Rescue British Banks
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Rock shareholders may end up with nothing
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Northern Rock Shareholders Await Payment Fight
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Brown fights Northern Rock backlash
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Outrage and theft
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Eurodebt puts the spotlight on mis-selling
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Standard Chartered's Whistlejacket SIV May Default, S&P Says
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Debt is driving families to the edge
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MSPs to discuss bankruptcy system
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More plunged into bankruptcy
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Financial woes beset Rotherham
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Lenders rush to repossess to avoid court scrutiny, consumer panel warns
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Germany:

Police raid homes across Germany in tax probe
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German Investigators Expand Tax Probe
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Germany's rich raided in tax evasion scandal
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Chief of major German bank BayernLB resigns
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Canada:

Quebecor World Asks for Extension
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More firms hearing wolf at the door
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Alpha Marathon goes under
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Canada's Carney Stops Short of Saying He'll Match Fed Rate Cuts
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Gearing up for the slowdown
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Australia:

Financial Services Bloodbath
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Bankruptcy on the rise in northern Victoria
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Centro shares plunge 17pc
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Russia:

Leftovers of the Khodorkovsky fortune pursued by friends and foes
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China:

China's inflation hits 11-year peak, headed higher
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Ireland:

Taxpayers hit by €1.7bn bill for abuse and health scandals
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