February 26, 2008

Daily Bankruptcy News

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Law:

Paul Hastings goes wild in West
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Cole Schotz Bulks Up Bankruptcy
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Dewey & LeBoeuf breaks a billion in first results
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Three Laterals Reveal How and Why They Made Their Moves
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New York AG Asks 124 School Districts for Law Firm Payment Info
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Lawyer of the Day: Jack Thompson
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Bonus Watch: Mayer Brown
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Legends of Mississippi tort crumble, one-by-one
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Lott under investigation by federal agents
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How Alston & Bird Improved Retention by 6 Percent
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A Different Mess in Mississippi: the AG-Tort Lawyer Cabal
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GC Salary Survey Says: Ka-ching!
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Life is different in-house
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Prospects for 2008: Another Precinct Heard From
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Benefiting From Big-Firm Merger Madness
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Coughlin Stoia Faring Well Without Co-Founder Lerach
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Does a Lawyer's Price Reflect Performance?
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Indian uprising
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Renzi Probe Could Shed Light on U.S. Attorney Firings
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Patchwork E-Filing Systems Frustrate Lawyers
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'Troll Tracker' Tracked to Cisco IP Team
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S.F. Federal Judge Wary of Piercing Privilege in McAfee Backdating Probe
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Justice Thomas Silent Through More Than Two Years of Supreme Court Arguments
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Judge's Widow Can't Pursue Claim Her Husband Was Worked to Death
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Doctor to Attempt Salvage of Law School
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Justices Weigh if Cash Hidden Is Cash Laundered
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Should state Attorneys General be able to outsource their legal work to for-profit tort lawyers, who then funnel a share of their winnings back to the AGs
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Lawyer Dies in Miami After Shark Attack
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After Resigning, Houston DA is Still on Payroll at $160,000
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Vote to End Jury Deadlock May Cost Attorney His Law License
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Say What?!
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Federal Judge Fishes For Puns In Seafood Ruling
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Insider Compensation:

The Richie Riches of the Housing Mess
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Economy:

Greenspan Says US Recession May Be Deeper Than Last
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Economists see grim first half of '08
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Warning: the Economy Stinks
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Interest rates: The new conundrum
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State pension funds a bigger worry than sovereign wealth funds
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Two Out of Five Americans Worried About Debt
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Sovereign Debt:

Are We Going Bankrupt?
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Religion:

Church sex abuse dispute erupts
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Exit Financing:

Solutia, banks reach settlement, report says
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Exemptions:

The Homestead Exemption Debate
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Autos:

American Axle, UAW Labor Talks Near Deadline
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UAW local strikes American Axle
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Ford Is Pushing Buyout Offers to Its Workers
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$14 per hour: The new auto dream job
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Bankruptcy court approves Dura settlement with Nyloncraft
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Amid Mortgage Mess, Auto Loans Also Lag
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Investment Banking:

Investment bank fees hit record in 2007
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Predatory Lending:

CO: State Lawmakers Take On Payday Loan Companies
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Jewelry:

Friedman's Gets OK to Auction Assets
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Fraud:

Kerviel passed interview stage at BNP Paribas
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Fire Control:

American LaFrance sale under fire
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Finance:

Despite the Fed's cuts, there's little relief in the cost of borrowing
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Bankruptcy Statistics:

Bankruptcies Spike In Arkansas
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NM bankruptcies rise by a third in 2007
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Luggage:

Luggage Parts Maker Tries to Repack
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Relocation:

Sirva delays DIP hearing
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Real Estate:

Existing Home Sales Decline to Nine-Year Low
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January foreclosures up 57 percent in year
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Home Resales and Prices Decline
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Congress To Grill Mortgage Executives
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Let execs ski at Eldora
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Could Clearer Docs Have Helped Avert Mortgage Meltdown?
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Median Price Check: How Much House Does $201100 Buy?
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Deal Nears to Curb Appraisal Abuse
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Fitch mulls mortgage insurance downgrade
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How not to rescue home loans
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Project Lifeline Falls a Few Feet Short
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US Senate Close to Hearing Foreclosure Prevention Act
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Fannie, Freddie downgraded by Goldman
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Mansion of Hearst's widow sold in foreclosure auction
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Neumann Homes sells unit
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Housing Rut Derails Host Of Dependents - Providers of Niche Services Face Their Own Struggles in Market Slump
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NY: Foreclosure Aid Rising Locally, as Is Dissent
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Lenders in South Florida fed mortgage frenzy with risky home loans
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American Home Settles With Indymac
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Greater Miami wins final use of cash
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Aviation:

Delta, Northwest shares fall amid merger doubts
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Another union opposes Delta merger
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Maxjet extends auction bid deadline
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Accounting:

Conseco to restate results, has material weakness
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A Triple Play of Restatements
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Municipalities:

City of McCall could declare bankruptcy
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Vallejo needs to rethink its business plan
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Vallejo talks break off, city manager recommends bankruptcy
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Vallejo Cuts Back on 911 Service
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Vallejo moves closer to bankruptcy
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Health Care:

State Used 'Flawed Data' in Victory Decision, Say Pols
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Attorney questions credibility of former National Century executive
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MVNH files for Chapter 11 bankruptcy to restructure debt
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Bank crises 'increase rate of heart attacks'
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Hedge Funds:

Report warns of hedge fund risks
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Men face sentencing in $2.5 million fraud
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Citi Has to Rescue Another Hedge Fund
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Banking:

Citigroup facing $12 billion in new write-downs, Goldman says
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Analysts continue to cut bank estimates
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Little Lenders
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Leveraged Loans Loom Large - While subprime mortgages continue to cause pain for many major financial institutions, banks face problems in other parts of their business
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Citi's Hits: 15 Times $100 Million
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Fed Gov to Banks: Be Party Poopers
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Sheila Bair: CDO Lawyer
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Bank of America pushed down by finance woes
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Forest Products:

Pacific Lumber Seeks Funds in Ch 11 Case
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Pope & Talbot seeks loan extension
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Mass Torts:

WR Grace gets more time in Libby asbestos case
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WR Grace Seeks Land Sale in Ch 11 Case
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Telecoms:

Innovative Telephone to be auctioned this year
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Iridium could celebrate 10th anniversary of Ch. 11 with an IPO
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Layoffs:

Siemens to Cut 3800 Jobs
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Wall Street:

Stocks set for higher open
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Asian markets advance
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Goldman Sachs to face bad quarter
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Distressed Investing:

US Treasury Shoots Blanks At Sovereign Funds
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US Pushes Sovereign Funds To Open to Outside Scrutiny
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The big PE funds are still in action, and looking for enhanced power through new relationships with fast-growing sovereign wealth funds
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PE-backed bankruptcies
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Plastics:

Wellman Seeks $225M Bankruptcy Loan
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Wellman cut to 'D' after bankruptcy filing - S&P
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Wellman goes down under heavy debt
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New Bankruptcy Opinions
(1 new opinion 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:

Warren: Can Mortgage Industry Block Help?
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Aid on home loans sought
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Warren: Vote on Tuesday
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Bankruptcy Act
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Banking on reasonableness
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Banking industry fights change
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America needs a way to stem foreclosures
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Bonds:

Bank Debt Risk Falls as MBIA, Ambac Stave Off Ratings Cuts
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Bond Insurers Spark Late Rally
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Ambac $3B Capital Infusion Might Not Be Enough
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Bond Insurers' Painful Predicament
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MBIA Ends Dividend Payments
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GS says SCA's ability to write new business a concern
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Auction-rate woes seeping into corporate sector
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Frozen Liquid: More Auction-rate Securities Put on Ice
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Credit Cards:

Credit Card Reform Is Coming
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The Credit Cardholders' Bill of Rights
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Trucking:

Rising fuel costs could push some truckload carriers into bankruptcy
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Pensions:

Barack Obama says he'll protect pensions in bankruptcy
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Art:

Salander Seeks Work at His Bankrupt Gallery
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Derivatives:

Credit Default Swaps: Is Your Fund at Risk?
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Food/Drink:

Buffets Holdings, Inc. Receives Final Court Approval for $85 Million of New Funding
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Buffets relents to creditors
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Landry's buyout hinges on creditors
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$15 million offer made for Xyience
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Interstate Bakeries wants to cancel contracts
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Retailing:

Nordstrom bracing for tough 2008
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Nasdaq to Delist Bankrupt Sharper Image
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Home Depot May Post First Annual Decline in Sales
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Lowe's profit drops in fourth-quarter
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Lowe's: As Bad as it Gets?
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Corporate Governance:

Angry shareholders gear up for battle
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Tax:

2 Kansas Attorneys Charged in Multimillion Dollar Tax Schemes
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Germany will share tax hitlist
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Corporate Reform:

Gen Re trial defendants convicted on all counts
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Alternative Fuels:

Unfinished Canton ethanol plant for sale
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BioEnergy loses plant
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M&A:

Clear Channel: Banks walk on another LBO?
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UK:

Time for change in insolvency law
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Hammonds, Walkers step up to Dolcis sale
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Bristows scoops three-partner team from restructuring Howrey
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Calls for Rock rescue package for 100 per cent borrowers
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FSA to consider Rock lessons
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BDO appoints restructuring chief
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Chairman of crisis-hit Clach to stand down
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Fairpoint just misses forecasts, plans IVA deals
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Canada:

BCSC orders trio to pay millions into courts
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More details on Alpha Marathon bankruptcy
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Germany:

Thousands of German miners laid off
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German February Business Sentiment Unexpectedly Rises
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Italy:

Parmalat Banks Another Big Settlement
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Trouble at Bertone
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Taiwan:

Foundation offers 'card slaves' assistance
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