July 14, 2008

Daily Bankruptcy News

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Law:

Big Bankruptcies--Long Expected--Are Slowly Emerging
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Leading Atlanta Bankruptcy Boutique Adds New Partner
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Merger Mania: Thelen Sending Out Feelers?
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Put it on Aloha's tab
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Time's Running Out on the Billable Hour
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Perk Watch: Will More Firms Go iPhone Phriendly?
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Are top lawyers worth their huge fees?
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Top 30 firms record 93 per cent PEP rise since turn of century
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Partners Get Inside Dope on Rival Amid Rumors of Merger to Form Biggest BigLaw Firm
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Let the Lawsuits Begin: Banks Brace for a Storm of Litigation
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Let's Make a Deal! Dickering Down Your Law School Tuition
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Average Compensation of London Lawyers is $1.13M
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Two Corporate Vets Bolt NY Firm in Boston
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Suit Against Firm Over Howard Hughes' Cash Set for Trial
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Troutman Sanders Lawyer Became Target
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Clients' Demands for Diversity at BigLaw Enter New Phase
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(Almost) Everything We Learned about Pleasing Bankruptcy Judges, We Learned in Kindergarten
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BigLaw Firm's New Digs Will Be High-Tech, "Associate Friendly"
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Calif. Bar OKs Posting Discipline Charges Online
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Lawyer to Plead Guilty in Milberg Kickback Scheme
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Melvyn Weiss Stands to Earn Millions in Unpaid Fees from Former Firm
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Pro Bono Report 2008: A Silver Lining to Economic Downturn?
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Responding to Auditors Without Waiving Attorney Work-Product Protection
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Number of Firm Mergers Depends on Whom You Ask
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Public Law Firms - 2011 Is Not Far Off
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Handshake Assault Case Gets Kicked
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OW
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Lawyer of the Day: Troy King
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Judges:

Former Judge Sentenced to Prison on Fraud Charges
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Politics:

Fannie/Freddie support must help homeowners: Obama
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Obama Says US May Not Take Any Action to Aid Fannie, Freddie
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Hedge fund managers throw weight behind Obama
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Dodd on Fannie, Freddie: They are 'sound'
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Barack Obama calls US economic crisis a recession
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How Chuck Schumer Caused the Second Largest Bank Failure in US History
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Schumer on IndyMac's failure: Stop blaming me!
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Who's to Blame for IndyMac's Failure?
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Bernanke Embrace by Democrats May Turn as Fed Seeks More Powers
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Why Wall Street fears Obama
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Banking:

150 banks nationwide could potentially fail over next year
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IndyMac one of the largest bank failures in US history
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IndyMac failure may be tip of the iceberg for FDIC
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Let The (Blame) Games Begin
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FDIC Comments Imply Big Haircut for IndyMac Loans
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IndyMac's implosion
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Home equity lines frozen at IndyMac
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Big IndyMac accounts at risk
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IndyMac-n-Squeeze
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How Many IndyMacs Are Out There?
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Bank Failures Due To Spike?
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Bank Fears Spread After Seizure of IndyMac
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FDIC says overwhelming majority of US banks are safe
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IndyMac: Your money is safe - FDIC
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U.S. banks expected to unveil poor results
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A Fate Worse than Debt
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Wachovia Corp. Reports Losses May Hit $2.8 Billion
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Economy:

Oil prices close in on $150 a barrel
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Chavez says oil could reach $300
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Oil down Monday more than $1 a barrel on stronger dollar
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Oil seeps to surface in Iraq's far north
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Oil Brings US Closer to OPEC Dependence, Replacing Japanese
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Dollar Pares Losses After Fed Offers Loans to Freddie, Fannie
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CA: State's poor are getting poorer
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Credit crisis fallout is just beginning
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Bankruptcy Statistics:

Vermont bankruptcy filings on the rise
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Personal bankruptcy still on the rise in NH
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Hockey:

Del Biaggio investors want answers
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Nashville group to cover $9.8M owed by financier
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Del Biaggio planned to seize, move team
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Utilities:

NorthWestern pays $23M bankruptcy settlement
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Food/Drink:

Kosher plant owner files for bankruptcy
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Buffets wants to reject lease, close restaurants
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Forest Products:

Fennell offers praise to PALCO judge
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Judge takes Palco stay under submission
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Ply Marts receiver searches for buyer
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Health Care:

New Jersey's health care gets spottier, weaker
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Judge approves Auburn plan
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54 layoffs diagnosed at Kona hospital
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North Bay General files again
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Steel:

Tippins' Liquidation Melts Away Part of Steel History
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Celebs:

Lou Pearlman's last-ditch, big money world tour
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As Lou Pearlman ran, investigators built their case
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The sad fall of Michael Vick
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Trucking:

IdleAire sold for $26M in auction
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Trucking firm filing for bankruptcy
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M&A:

M&As fall victim to somber look
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Distressed Investing:

Ways to Mine Energy's Riches
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Real Estate:

Paulson denies government considering bailout of Fannie, Freddie
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White House Will Ask for Authority to Buy Stock
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A new American reality: The government as provider
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Not expected to help more companies
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Lending Eroded, Leaving 2 Pillars
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Fannie, Freddie in Talks With Treasury About Funding
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What Would a Fannie/Freddie Conservatorship Look Like?
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Paulson Statement on Freddie Mac, Fannie Mae: Full Text
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Fed, US Treasury step up to backstop GSEs
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Is there a Resolution Trust Corp. in Fannie and Freddie's future?
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Fannie Mae, Freddie Mac: The $5 trillion mess
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Troubled US mortgage lenders face key test Monday
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Talks go on behind the scenes for rescue plan
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It's back to '93 for shareholders
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US ready to stage $15 billion mortgage rescue
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Time to Let Fannie and Freddie Wither?
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Desperate times call for desperate measures
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The Fundamentals of Fannie and Freddie
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Guarantees for America's guarantors
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Fannie, Freddie central to US housing market
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Treasury to Issue Statement Supportive of Mortgage Giants
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Fannie and Freddie: A wild ride
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The Companies That Control The Mortgage Market
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Big investors see no problem with Freddie debt sale
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The Fannie and Freddie Fallout
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Credit markets more confident debts will be paid
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Mortgage giants falter
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World's largest mortgage providers teeter on the brink of collapse
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Long Protected, Fannie and Freddie Ballooned
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New Deal, Revisited
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Fannie and Freddie worth more than money
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NY apartment builders delay Fannie, Freddie backing
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Senate approves housing bill on lopsided vote
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White House renews veto threat on housing bill
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Benefits Of Foreclosure Rescue
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Silence of the Lenders: Is Anyone Listening?
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IndyMac seized as financial troubles spread
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Good timing: Feds avoid Fannie-style mortgage freefall
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Concerns about fraudulent loan schemes rise amid tight credit
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Diablo Grande auction approved
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LV condo buyers struggling for closure amid credit squeeze
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Lighthouse Point developer slapped with $12.1 million judgment
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The mortgage lender illusion
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Foreclosures go high-end
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Home repair and building products companies have been squeezed between too much leverage and lousy business conditions
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Fringe Suburbs: The Unraveling
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Subprime Litigation Players and Trends
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The Top 10 Foreclosure States
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The upside of a downturn
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Judge moves RMIW case
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Fed poised to curb shady home-lending practices
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Boom time for landlords ends in bust for many
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Ecoventure to tap $5.5M on DIP
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Municipalities:

Jeffco takes east coast in shame game
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Jefferson County official says county was close to deal with creditors
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Jefferson considers property tax boost to help county stay afloat
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SLO finds it's in a bind with arbitration
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Right on target
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Three city unions hope to speak up on retirees' behalf
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Retailing:

Mall vacancies are at their highest in years
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Retail Sales Probably Rose on Tax Rebates
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As Office Depot plunges, 2 other office supply companies take hit
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Steve & Barry's filing may lead to liquidation
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Low-price retailer hits hard times
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Religion:

Davenport Diocese releases priest names
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Corporate Reform:

Judge won't dismiss other Adelphia charges
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SEC looks for someone to blame as financial crisis grows
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SEC red-faced in student-aid flap
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Horse Racing:

NYRA gets extension again
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Printing:

Big bonuses at Quebecor World
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Financial Literacy:

Officials: Financial 'literacy' a must
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Teaching Teens that Money Matters
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Gambling:

Greektown, MotorCity revenues down
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Finance:

The new CLO math
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Commodities:

Firm's investors try to track cash after bankruptcy
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Corporate Governance:

Chancery Court Requires Directors to Disgorge Bonuses
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Trustees:

Chapter 13 trustees, money and goodwill
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Jewelry:

Whitehall's final sale approved
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Fraud:

Stock Loan Scam Took $70 Million, SEC Says
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Advertising:

Vertis' open bankruptcy case
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Personal Finance:

When ends won't meet
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'Addicted to status symbols'
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Ex and the City
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Layoffs:

Sun to layoff 2,500 worldwide
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Job Cuts Inevitable For InBev-Anheuser
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New Bankruptcy Opinions
(3 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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Wall Street:

European Stocks, US Futures Climb; A&L, Freddie Mac Advance
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Desperate banker resorts to sandwich board to land job - Former Houlihan Lokey staffer
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Fannie, Bernanke and data to rule stocks
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Fannie, Freddie Take Down Wall Street
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Bear Market Deepens With Sixth Straight Weekly Drop
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Can the Dow and S&P Last 15 Rounds?
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The Prescient Are Few
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Thain in Vain
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How to Ride Out a Bear Market
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Toronto stocks shaken by US credit fears
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SEC says boosting rumor crackdown
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A few more comments on rumors
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SEC faces calls to rein in shorts
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Autos:

Bankruptcy would be risky business for any automaker
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Some southwest Michigan suppliers could be hurt by auto-sales slowdown
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Buyout firms fail to repair auto parts suppliers
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GM wouldn't fight for universal health care
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Breaking up GM will be hard to do
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GM expected to raise more capital, as well as cut costs
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Short sellers gamble GM's prospects will get worse
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GM Bankruptcy Impossible? The Fanciful World of Rick Wagoner
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GM, Chrysler fire back at bankruptcy suggestions
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Toyota Scales Back Production of Big Vehicles
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Chrysler plans electric vehicles, Could be ready in 3-5 years
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A.M.S.E.A. to file reorg plan
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Cops watch as CAW talks
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Aviation:

UAL Plans Large Accounting Charges
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United Airlines and union reach deal for buyouts
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The Miles Pile Up; Their Value Declines
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Midwest Airline Plans To File For Bankruptcy
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Republic Airways plans to cut 500 jobs
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Delta CEO faces toughest trial
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Delta, Pinnacle extend talks
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Delta, Northwest Air merger vote set for Sept. 25
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High fuel costs pinch off rural Oregon's air connections
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Airport authority still trying to find Kitty Hawk replacement
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Industry must play high-stakes 'Survivor'
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Don't blame airlines
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US Airways chief backs action against oil speculators
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Airline Oil Lobbying Alarms Financial Firms
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Threat to aircraft orders as fuel prices soar
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Airbus Says One-Third of Backlog Is Threatened by Oil
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Airbus cautious of struggling carriers
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Air Canada's Shares Fall 15 Percent
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Rating Agencies:

Rating agencies facing legal battles over role in credit crunch
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SEC plan to lessen credit raters' clout hemmed in by other regulators
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SEC: I-banks part of ratings game
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Pensions:

Government Rule Makers Looking at Pensions
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UK:

We have financial, not economic, problems
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Britain close to recession, says John Major
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UK's FTSE 100 Tumbles 22% From 2007 High, Enters Bear Market
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Treacherous times ahead for UK plc as profit warnings remain high in Q2
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Fears over crisis at US mortgage firms
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Indymac America 's Northern Rock Goes Bust
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Northern Rock makes life even harder for struggling borrowers
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Finance officers brace for worst of credit crunch
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Debt companies ready for September bankruptcy flood
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No happy ending in sight for the victims of Equitable
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UK companies struggling to raise funds
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Britain urging return to wartime food frugality
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Too late to prevent a recession
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Emergency scheme to help homeowners
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Ireland:

US fears spread to Irish shares
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Canada:

Easy come, easy gone: Still no sign of Ian Thow
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XCopper bankruptcy filing shows trail of debt
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Teachers at the gate
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ASX braces for US loan fallout
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Australia:

Debt pacts a popular alternative to bankruptcy
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Honeymoon mortgage rates now thing of past
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CFS Retail Bids for 50% of Centro's Perth Mall
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Australian Dollar Trades Near 25-Year High Versus US Currency
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Poland:

Shipyards that gave birth to Solidarity now face the axe
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Donbass may exit Gdansk by August 1
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Polish Inflation Rate Probably Rose to 4-Year High
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Turkey:

Turkey's Central Bank May Increase Benchmark Rate
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Israel:

US subprime mortgage crisis hits Discount and Leumi too
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Middle East:

US citizens' gas money fueling Mideast's boom
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New Zealand:

NZ Retail Sales Fall, Adding to Recession Signs
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Japan:

Japanese government keeps economic assessment unchanged in July
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Spain:

Martinsa Shares Are Suspended After Bankruptcy Report
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