February 7, 2008

Daily Bankruptcy News

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Law:

Foley & Lardner To Add Bankruptcy Partners
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Laterals Take Another Look at Clifford Chance
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Law Firm Perks Are Nice, but What's the Catch?
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Cadwalader in shock raid for Latham private equity chief - Will focus on restructuring and pre-bankruptcy techniques as an acquisition strategy
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US firms to protect European partners as dollar slump goes on
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Duff & Phelps Forms New Practice Group
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Sustaining the Ethical Law Firm
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Heller Ehrman revenue drops after string of settlements
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What to Do If We Enter a Recession?
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Accused Lawyers Defend Fee-Sharing With Lay Employees as 'Bonus' Plan
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Bonus Watch: What's Been Done at Gibson Dunn?
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Senior Partners Press Firms to Pay Them to Train Their Successors
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Firm's clients say 'no' to multi-skilling lawyer initiative
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Left-Coast Merger Complete
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The best offense...is a good defense
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Paul Weiss satisfied with modest growth
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McDermott PEP up 8% as fees approach $1bn
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Fifth Circuit allows La. claims against Winston & Strawn to go forward
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Swagitude
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Firm's Equity Stakeholders See Profits Jump by 30 Percent
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Latham & Watkins Private Equity Head Joins Cadwalader
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Nacchio prosecutor Stricklin joining Holland & Hart
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MegaMerger Madness!
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Sallie Mae's Top Lawyer Resigns -- Quietly
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Irony News: Man Headed to Prison for Claiming to Be Ex-Prisoner of War
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Court delivers justice by mobile phone
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When Does Advertising Lessen a Law Firm's Prestige?
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Provocative Lawyer Advertising: Fair or Foul?
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Funny Legal Ads Draw Censure
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Former Ethics Counsel Disbarred Over Investigation of Judge
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Harvard Law Review Vampires No Match for 'Barackula'
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Judge Shines Light on Secret Pact to Settle, Hide Text Messages
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Why Clinton Is Like Paul Weiss, and Obama Is Like Quinn Emanuel
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Gay at DOJ? Hip Hip Hooray!
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Say What?!
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After half-billion-dollar verdict, Sullivan & Cromwell's Steven Thomas decides to go out on own as plaintiffs attorney
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Economy:

'Damn the torpedoes' isn't good policy: Plosser
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Signals of Distress
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Senate G.O.P. Blocks Additions to Stimulus Bill
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Senate Stimulus Bill Fails to Advance
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Worker Productivity Increases 1.8%
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Bad News On Productivity
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US productivity grown, but it's credit growth that matters
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Productivity growth slows, along with broader economy
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Highlights Of Rival Stimulus Bills
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Majority of businesses say they can't forecast three months out
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Low Marks for Bernanke
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Fed Chief Met With Diverse Group
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Wall Street:

Stocks Pull Back After Fed Comments
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Stock Futures Sink in Sea of Data
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Goldman CFO on credit market: 'Fear has overwhelmed greed'
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Asian markets tumble on US worries
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Craving the High That Risky Trading Can Bring
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Chemicals:

Company Suing Banks for Using Credit Crunch as an Excuse?
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Banks face $2.25bn suit over failed loan
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Lender challenges Cobitco filing
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Telecoms:

Amp'd Mobile Sues Over Pre-Ch 11 Funds
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Innovative auction set
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Jewelry:

Alpha Omega liquidation sale set to start today
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$40M sale marks Alpha Omega's end
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Alternative Fuels:

Ethanol Start-Ups and the Bankruptcy Bogeyman
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Bankruptcy Rules:

Meeting Of Advisory Committee on Rules of Bankruptcy Procedure
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Child Support:

GAO Study Looks at Bankruptcy and Child Support Obligations
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Child support the loser in this case
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Noncustodial Parents with Child Support Orders Make Up 7% of Bankruptcy Filers
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Accounting:

GT battles insurers over Parmalat liability cover
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Ex-KPMG Exec Settles Peregrine Charges
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Credit crunch sparks corporate fraud fear
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"Sham" Licenses Cost ex-KPMG Employee
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Audit reports 'no longer relevant'
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History:

Bankruptcy Judge Argues Case Before High Court
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Exemptions:

The Effect of Bankruptcy (Homestead) Exemption Levels on Access to Credit: Evidence from a US Panel
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Furniture:

Great American's $5.2m bid wins Domain Home
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Wickes granted use of cash, DIP
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Real Estate:

Subprime Woes Just Beginning, PwC Warns
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Mortgage Costs Still Up, Even After Fed Slashes Rates
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New Century, Lawyers Face Claims They Lied in 5-Year-Old Suit
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Toll Has Seventh Straight Drop in Quarterly Revenue
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Toll Brothers sales down 22%, CEO says homebuyers are 'hiding'
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Why are homebuyers in hiding?
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D.R. Horton Posts Loss After Charges
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Goldman Hungry To Buy Distressed Mortgage Debt
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Housing Crunch Crumbles IAC/InteractiveCorp
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Tighter rein on Fannie, Freddie mulled
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Lenders Question Lower Jumbo Loan Costs
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Sens. Feinstein, Martinez Aim To Curb Loan Abuse
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Ohio AG Hits Snag in Crusade Against Foreclosures
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Manhattan Real Estate Finally Turning
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Courts grapple with foreclosure avalanche
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Black churches step up to help members avoid foreclosures
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Deposits Refunded By Developer WCI
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Speculators May Have Sped Up Housing Downturn
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Wells Fargo opposes First Magnus bankruptcy plan
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Judge's ruling prevents forcing NovaStar unit into bankruptcy
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A violent twist in HOA fund case
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Homebuilder Wieland 'upbeat' amid housing downturn
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Federal Judge Threatens Chase with Fines
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Builders Court Buyers With 'Price Protection'
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Retailing:

Macy's to Cut 2300 Jobs, Combine Three Divisions
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Circuit City executives plan for 'tougher environment'
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Retailers Taking Their Medicine and Turning Cautious Over Growth
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January Sales Go Cold
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Autos:

Chrysler to replace Plastech
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Chrysler CEO: Plastech tried to raise prices
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Chrysler's Nardelli Says Firm To Shift Contracts From Plastech
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Did Chrysler's Hardball Tactics Drive Plastech to File for Bankruptcy?
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Plastech asks to tap bridge loan
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Plastech receives cash help
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Deal or No Deal, Chrysler To Seek New Suppliers
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Plastech cut to 'Ca' on bankruptcy filing - Moody's
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Experts say auto suppliers will continue to struggle
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Bare knuckles in Detroit
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Auto Dealers Bracing For Tough Year
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Ford: 'Committed' to Cost Cuts
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Ford Motor slides on downgrade
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New Dana chief to be paid $1 million plus bonus
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Johnson Rubber won't close
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Layoffs:

Diebold to cut 800 jobs
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Horse Racing:

NYRA announces layoffs
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NYRA threatens to suspend racing
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NYRA issues shutdown schedule
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The Day at the Races
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Health Care:

Health care hit hard by rising costs, flat aid
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No Money In Pure Weight Loss Bankruptcy: The Real Deal
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Bank seeks Monsour foreclosure
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Auburn Hospital Recovering from Financial Woes
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Officials concerned for ambulance services
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After 3 days, jury picked for National Century trial
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Trial Begins For Execs Of Collapsed Health Care Financing Company
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Bush Budget Proposal Would Cut Medicare Funds
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Student Debt:

White House "strongly opposes" a bill to crack down on abusive market practices in the student loan industry
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Flight school closing puts student pilots in credit bind
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Student pilots not likely to get refunds
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Arizona Bill Bans Campus Credit Card Giveaways
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Defense Contractors:

Protected Vehicles files for bankruptcy protection
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Finance:

Goldman, Banks Lend Record $55 Billion for BHP, Rio
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Tech:

Cisco's Down, and So Is Tech
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Former Sex.com owner jumps in Blue Frog mess
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Aviation:

Delta, Northwest closer to merger
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United, rivals closing in on merger deals
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Handicapping the Airline Poker Match
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Air One executive says not sure if carrier can make bid for Alitalia
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Credit Cards:

A Credit Card You Want to Toss
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Recording Industry:

More Bids for Legendary Hip Hop Label Death Row Records
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Tax:

IRS Likely to Get More Resources to Catch Tax Cheaters
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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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Venue:

The Delaware court wins
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Dinosaurs:

Judge rules in favor of T. rex fossil hunters
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Obituaries:

A Bankruptcy Passing
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Banking:

Wachovia to sell $3.5B in stock
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Anxiety grows ahead UBS and Credit Suisse results
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LBO loans become bigger problem for banks
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The Coalition of the Wilting
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Deutsche Bank avoids further big write-downs
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Swiss government rules out aid for UBS
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Bonds:

Junk-Bond Defaults Seen to Multiply
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Do Bond Insurers Need CPR?
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Rescue Won't Stop Downgrades
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MBIA to Sell Stock in Effort to Ensure AAA Bond Rating
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Oil/Gas:

Judge Sides With Monitor Oil Lenders
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UMMA fights effort to lift stay
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Ratings Agencies:

Regulators May Limit S&P, Moody's Structured Business
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S&P to unveil ratings overhaul
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Moody's earnings fall 54 percent
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The Coming Collapse of International Credit Ratings
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Corporate Reform:

What's wrong with Washington's watchdogs?
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Fraud:

Papers Show Wachovia Knew of Thefts
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Tax Twist in the Trading Scandal
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Rules widely flouted at SocGen
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Southwick charged in $180M fraud
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UK: Fees, fraud and angry lawyers
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Man is accused in $140 million fraud scheme
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Pair Convicted In $55M Billboard Ponzi Scheme
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Patton Boggs Files Ponzi Scheme Suit
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Bankruptcy Statistics:

Bankruptcies Continue Their Slow, Upward Pace
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Utilities:

The fall of Calpine shares
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Reborn Calpine in 'really good position,' CEO says
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Private Equity:

PE-backed bankruptcies
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Pensions:

Pension funds hit by drop in value of property holdings
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Relocation:

Sirva granted DIP approval
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Distressed Investing:

New Money Pouring into Funds Targeting Distressed Deals
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Municipalities:

The big threat of municipal debt
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North Forest ISD will get more oversight
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Newspapers:

An Industry Imperiled by Falling Profits and Shrinking Ads
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UK:

Bank of England Cuts Rates
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Northern Rock bidder fears Virgin name
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RAB raises N. Rock stake to back in-house rescue
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UK Adds Northern Rock Debt to Government Burden
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Sea Containers Reaches Vital Agreement With the Trustees of the Main UK Pension Schemes
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Darling Says Britain's Housing Market More Resilient Than U.S.
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Metronet to cost £2bn
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Regulator wins key bankruptcy test case
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Return home of the 'boomerang kids' stretches parents to limit
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Credit Crunch Pounds U.K. Economy
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Repossessions and bankruptcies spiral
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IVA deals to top 50,000 in 2008
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London Ticket Shop and London Ticket Market in provisional liquidation
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High risk tax schemes set to be exposed
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MG Rover investigators run up £100,000 hotel bill
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Canada:

Tembec snags note holder support for restructuring
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Despite sale, Harmac could still shut down
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France:

Talk of HSBC bid lifts stock of Societe Generale
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Australia:

CBA's rate hike draws Treasurer's ire
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Japan:

Osaka governor sounds fiscal alarm
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China:

Insights into China's bankruptcy laws
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