February 27, 2008

Daily Bankruptcy News

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Law:

Associate Salary Spikes Pinch Partner Profits
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Leaner Pay, Bonuses May Be 2008 Reality
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Saul Ewing Revenue Up by 1.6 Percent; PPP and RPL Decrease
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Bankruptcy lawyers leave Saul to open branches for NJ-based firm
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Scruggs' arguments rejected, trial looms
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Ballard Spahr's National Focus Helps Boost Revenue by 15 Percent
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Firm Revenue Counter
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Linklaters tops law firms in 2008 Superbrands survey
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Lawyers of the Day: McDermott Will & Emery
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For Skadden's Robert Bennett, It's All in a Week's Spin
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Firm Introduces Three-Tier Career Path for Associates
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London BigLaw Associates Have Growing Role in Firm Management
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In the Land of Bulls and Bears, BigLaw Buckles Down to Work
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What Visa Pays Lawyers
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Clifford Chance Lawyers Warned About Running the Meter
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Rocket's Testimony Referred to DOJ; Hardin Conflicted?
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Lead Prosecutor in Case Against One Law Firm Quits to Join Another
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Grading the Law School Grading Curve
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The $2.5 Billion Question
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Nip EDD Costs in the Bud
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BigLaw Firm Snatches 10 From Rival In Dallas
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Attorney Faces Criminal Charges for Tellling Clients They Could Quit Their Jobs
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Ruling Takes 'One-Way Street' Approach to Attorney-Client Privilege
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Predicting the Law With Technology
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Victory in Nixon Peabody Food Contest
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Disbarred Lawyer Outbid Madonna on $35M Home
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Judicial Hottie of the Day: George Schiavelli
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Disaster Recovery For Law Firms
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Bonds:

MBIA unit's "Aaa" rating affirmed by Moody's
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Governors want Washington to address auction-rate meltdown
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Issuers Ask SEC for Break
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Retailing:

Home Depot Profit Drops on US Housing Slowdown
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The Future Was Then - The Times Have Caught Up With That Erstwhile Icon of Modernity, the Sharper Image
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Retail industry leads Auction Block parade
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Demand for Expensive Goods Falls
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Big-ticket orders down 5.3 percent
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Tax:

US Among Countries Investigating Tax Evasion
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US targets 100 US taxpayers in Liechtenstein case
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Liechtenstein tax probe spreads around
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Alternative Fuels:

Bioenergy of America's Ch 11 Dismissed
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For sale: One unfinished ethanol plant
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Judge approves sale of Canton plant
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Firefighting:

American LaFrance, LLC Announces That the U.S. Bankruptcy Court for the District of Delaware Granted Two Motions Critical to ALF Exit from Chapter 11
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Finance:

Lender Faces Storm of Lawsuits
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Banking:

FDIC gears up for bank failures as 'problem' banks soar
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Banks' off-balance sheet losses may be the next shoe to drop
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Small and Midsize U.S. Banks Beginning to Struggle in Credit Crisis
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Q4 Charge-Off Rate at Insured Banks Hit 5-Year High
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Swiss President: No Need for UBS Bailout
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UBS chair faces shareholders
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UBS in shareholder plea for $12 billion cap injection
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Can banks stop the risk-takers from running out of control?
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Citi's panic button would be selling Smith Barney
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Politics:

Dems aim to tie Iraq to Americans' financial woes
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Obama presses ideas to stabilize pensions, alter taxes
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Wall Street's courtesans to kneel before Congress
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Wall Street:

Goldman Profit Estimates Cut by Merrill's Moszkowski
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Goldman, Lehman May Not Have Dodged Credit Crisis
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Lehman Bros sees further damage in US fin sector
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US stocks set to ease
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Bernanke vs. the economy
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Basketball:

Great Falls Explorers Suspend Operations
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Enron:

Former Enron chief to appeal conviction
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Trucking:

PTS searches again for buyer
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Real Estate:

Zell sees spring housing market recovery
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U.S. 2007 home prices experience the largest decline in more than 20 years
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Toll Reports Second Straight Loss as Demand Slumps
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Fannie Mae Posts $3.6 Billion Loss
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Broad-Based Drop in Home Prices
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Update: House and Senate on Subprime Issue
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Countrywide Sued Over Borrowers' Foreclosure Fees
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Landmark Mass. Ruling: Subprime Lender Can't Unfairly Foreclose
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Miami leads drop in home prices
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Roubini: FHLB Lending 'Reckless'
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Rental vacancies drop in metro area
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ARM resets trigger huge rise in home seizures
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Refinancing applications down 30.4% last week
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$130 million in grants to aid homeowners facing foreclosure
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Democrat Floats Plan to Refinance Home Loans With US Help
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US House Panel Lays Out Housing Stimulus Ideas
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Mortgage helpers
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Bankrupt lender stole millions, trustee alleges
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MA: Democrats say state needs to help homeowners facing foreclosure
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Texas takes No. 3 spot in foreclosure totals
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Colorado No. 5 on foreclosure list
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Maryland foreclosures up 430%
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O.C. foreclosures soar 128% in a year
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AZ: Builder set to abandon Valley lots
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Levitt Bankruptcy Leaves Homeowners in the Cold
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Chevy Chase Bank Faces Mortgage Suit
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American Standard will file Chapter 11 bankruptcy
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Homebuilders surge on hopes affordability will continue to rise
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Buyers Tell Of Promises Unkept By Homebuilder
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Housing may be in freefall until credit loosens, supply recedes
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Pain relievers should share the pain
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Terrapin's troubles
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Patriot's seeks final OK on cash
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Congress Struggles With Miami Valley Foreclosure Fiasco
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Economy:

Surprise! Inflation Looking Worrisome
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Looks a Lot Like Stagflation
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No Recession? Don't Bet on It
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Institutional investors say risk of recession is high
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More stagflation signs
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Nobel-winning economist: Blame Greenspan, Bernanke for downturn
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Producer Price Inflation Not Yet Felt by Consumers
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Consumer confidence lowest in 5 years
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Gross forecasts slowdown in business, consumer lending
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Bernanke Fails to Cut Loan Rates for Most Americans
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Municipalities:

California City Moves Closer to Bankruptcy Filing
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Emotions run high as Vallejo mulls bankruptcy options
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McCall authorizes bankruptcy resolution
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Chemicals:

Solutia exit financing approved; to emerge from Chapter 11 on Thursday
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Hedge Funds:

Hedge Fund Risk: Another Country Heard From
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SEC Struggles to Pin Insider Trading on Fund Sales
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Telecoms:

Nortel reports steeper loss, to slash jobs
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Chemicals:

Solutia future 'looks good''
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Health Care:

Hospitals may see cuts in charity care aid
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Hospitals will close, group's leader says
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Medical bills land hard-working family in an American nightmare
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Natchez Regional facing drastic changes
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2 National Century execs weren't full participants
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Jewelry:

Friedman's forgoes stalking horse
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Enron:

Some investors seek a cut of settlement plan; others want more
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Relocation:

Sirva Allowed To Borrow $10M in Ch 11 Case
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Turnarounds:

To Create Value, Remember 'It's the EBITDA, Stupid!'
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More Capital Doesn't Always Benefit the Market
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Student Debt:

Student Loan Discharge Amendment Fails in House
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Students feel credit crunch too
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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:

Bush Vows to Veto a Mortgage Relief Bill
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Housing Woes Put Bush, Hill At Odds
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Getting Real About the Rescue
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White House: Can't Support Proposed Bankruptcy-Rule Changes
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Judges play with mortgage payments
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Opposition to Homeowner Assistance Gets Silly
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Lengthy Iraq debate pushes back housing measure
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Predictions:

The Bubble Has Burst, The Downturn Is Here
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Is the Dam About to Burst?
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Predatory Lending:

Onward Christian Borrowers!
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Va. Senator may kill payday lending bill
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Aviation:

Pilots' Battles Over Seniority Play Havoc With Airline Mergers
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New signs of trouble in Delta, NWA merger talks
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US Airways to charge $25 to check second bag
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Longtime activist gets nod as flight attendants union chief
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Aircraft makers' layoffs hit hard
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Cheap Polish airline close to bankruptcy
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Autos:

Automotive suppliers struggle for corporate survival
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Plastech deal extended
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5,600 job cuts at BMW
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BMW Job Cuts to Reach 8,100
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Ford, Tata to consummate Jaguar, Land Rover deal
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Corporate Reform:

Did the S.E.C. seek to weaken Sarbanes-Oxley?
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Microsoft Fined Record EU899 Million by EU Regulator
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Celebs:

Michael Jackson's Neverland Ranch faces foreclosure
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Payroll Services:

Fast cars, loose cash figure in firm's demise
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Accounting:

FASB overhaul OK'd
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Insider Compensation:

Yahoo Shareholders Sue Board for Golden Parachutes
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Corporate chiefs' latest posh perks
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Furniture:

Wickes plans to liquidate assets
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Domain owes customers over $3.8M
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Convenience Stores:

Petro cleared to sell stores
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Avoidance Actions:

Wire Transfers May Protect Shareholders in LBOs 3d Circuit Says Payments by Financial Institutions Are Unavoidable
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Derivatives:

ISDA tries to soothe CDS market
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Can't Anyone Here Deal with Derivatives?
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Mining:

Utility tries to force mining company to reorganize
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UK:

IVA providers face long road back to profit
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London Scottish To Pull Out Of Lending, Focus On Debt Collection
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Asset Tracing: Getting Evidence And Injunctive Relief
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Germany:

163 Netted in Tax Probe
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German Tax Probe Yields Confessions as Search Spreads
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Liechtenstein:

Pressure mounts on Liechtenstein tax haven
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France:

France examining Liechtenstein tax evasion tip-off
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Canada:

Quebecor's printing business could prove costly
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Unexpected bankruptcy of ICI leaves creditors out $10.7 million
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Spain:

Reckoning looms for two Spanish real estate giants
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