July 18, 2008

Daily Bankruptcy News

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Law:

Amid Departures, Thelen Muses on Mergers
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Judge Jed Rakoff: 'This Court Will Not Be Party to This Sham'
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Strategies for Coping With the Economic Downturn
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What's the Latest Baker-Heller Merger Speculation?
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Merger Mania: Rumors and News
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Eversheds denies pay cut rumors
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Some In-House Lawyers Find 'Promised Land' Lacking, Consider Alternatives
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Hug Me
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Commuter Shoes?
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The 24 hour a day job
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Lawyers and Pros Say Flex Schedule's Time Has Come
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"An alarming number of umbrellas"
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AG looking into Houston bankruptcy file-dumping case
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Central Illinois Energy asks for money back from law firm
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Crowell & Moring Adds Bankruptcy Attorneys
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N.Y. Firm Liable for Acts of Retained Fla. Counsel
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Multitasking Lawyer Exercises While He Works
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Paralegal of the Day: Antonio Haynes (aka Jenna Saisquoi)
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Lawsuit of the Day: Temporary Tattoo, Permanent Anger
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Judges:

Judge Says His Courtroom Obscenities Tied to Son's Death
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Tax:

Witness tells how US taxes evaded abroad
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Will UBS ending offshore banking services scare tax cheats?
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Americans stash away $1.5 trillion in tax havens
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Finance Chief Says UBS Regrets Tax-Evasion Aid
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Cracking Down on Tax Evaders
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Witness Protection for Bank Whistleblower
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LGT Group's Kieber Says Bank Helped Clients Break Law
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Sen. Levin: Shut Down Giant Swiss Bank UBS
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Pity The Celebrity Taxpayer
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First German Convicted in Tax Case on Liechtenstein
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Personal Bankruptcy:

Judges must stick to terms of bankruptcy code that cut higher-income debtors a break
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Wall Street:

European Stocks, US Futures Rise
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Earnings set to weigh on stocks
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Merrill Lynch Posts Fourth Straight Quarterly Loss
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Merrill gets gored
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Merrill Drops After $4.65 Billion Second-Quarter Loss
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Investment firms, banks step up Fed loans
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Wachovia Securities raided in auction-rate probe
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Auction Implosion Reaps Fees, Not Scorn, for Dealers
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Payment Processing:

Etelcharge Announces Decision of California Bankruptcy Court to Approve Etelcharge's Acquisition of Payment One
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Bankruptcy Crimes:

Couple charged for bankruptcy fraud
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Bankruptcy Fraud Inquiry Opened On Black Widow
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Sovereign Debt:

You Owe $455000
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Retailing:

Dawahare's store-closing sales approved
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Goody's reassures landlords
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Licenses a Key Issue in Steve & Barry's Bankruptcy
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Trucking:

Rising fuel costs stall freight carrier sector
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Distressed Investing:

Shareholders must beware the vulture funds
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Perella Weinberg Hedge Fund Gains 24% on Distressed Investments
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Hedge Funds:

Defrauded Fund Investors Sue Goldman
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Hockey:

Predators fiasco puts spotlight on Bettman
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Fees:

Bankruptcy Filing Fees Through the Ages
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Real Estate:

Home Construction Hits 17-Year Low
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FNMA Is Making Enron Executives Look Good
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Bay Area median home price falls below $500000
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Little foreclosure relief seen from housing bill
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No compassion shown to homeowners
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Subprime ARMs Defaulting, Despite Loan Modifications
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Countrywide Shines Light on Loans
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The window narrows for reform in the wake of the Countrywide V.I.P.-loan scandal
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Fannie Mae, Freddie Debt a Buy Poole Says 'Insolvent'
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Freddie Mac mulling stock sale
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JP Morgan's Dimon: Prime Mortgages Look "Terrible"
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Lake Las Vegas to Reorganize Under Chapter 11
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Bankruptcy Court Grants Motion Authorizing the Acquisition of Assets and Deposits of Fremont Investment & Loan
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Housing Downturn Hits Sherwin-Williams Profit
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Mortgage Crisis Spawns Class Action Alleging Harassment of Minorities
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Financial crunch hurts home builder
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West Galena, creditor to fight
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Sacramento area's biggest mortgage lenders are ailing
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Trump Tower builders dug deep for financing
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Consumers Report Access to Credit Tightens
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Banking:

Global bank group calls for industry to do more
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UBS to close Swiss-based services for US investors
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We're not in trouble, say execs of banks on analyst's danger list
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Wachovia Inspected by States Over Auction-Rate Sales
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Bank of New York Mellon Profit Falls on Big Charge
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KeyCorp Swoons on Loan Losses Outside Its Market
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FDIC Sets New Rules on US Deposits to Avoid System Failure
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Citigroup loses, but surprises Wall Street
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Barclays Shareholders Buy Less Than a Fifth of Shares on Offer
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Economy:

85% of U.S. Unhappy with Economy
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IMF hikes growth forecasts due to strong Q1, but sees slowdown in H2
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Financial Firms Call for Reforms To Restore Confidence, Stem Crises
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From The Eye Of The Storm
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Crude Oil Gains on Speculation Prices Fell Too Far, Too Fast
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Autos:

Daimler to Cut Up to 720 Jobs at Truck Plant
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Why General Motors isn't doomed
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Blue Water Automotive Systems to close
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Suzuki Dealer Files For Bankruptcy
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Attorney to contest Joe Gibson bankruptcy filing
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Politics:

McCain: GM Not In Need Of Bailout; Would Consider All Options
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Health Care:

Living Hope psychiatric hospital closing indefinitely
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NJ nursing home operator fields $22M bid for Northwoods system
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US to Probe Health Plans That Cancel Sick Members
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Benefit 'Rescissions' Prompt Wider Waxman Probe of Insurers
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SIVs:

US trustees to SIVs take to UK courts
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Fraud:

Kim brothers sentenced in KL Group hedge fund fraud
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Oil/Gas:

Tulsa's SemGroup biggest loser on Wall Street
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SemGroup weighs bankruptcy
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New president, CEO to take over SemGroup amid debt problems
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Corporate Governance:

Delaware Supreme Court Ruling a Defeat for Shareholder Activists
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Mining:

Lehigh Coal tumbles into Ch. 11
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Finance:

Blackstone Risks Hedge Funds' Return as LBO Lending Evaporates
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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:

Feds ease bankruptcy requirements for flood victims
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Consumer Credit Fairness Proposed for the Bankruptcy Code
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DIP Financing:

Landsource DIP Financing of $1 Billion is Denied
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LandSource pressed to revamp DIP
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Aviation:

United parent UAL still a ways off from bankruptcy: JPMorgan
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Qantas cuts 4 pct of workforce, prunes growth plan
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Food/Drink:

Pierre Foods gets bankruptcy court OK to borrow up to $29M
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Belvedere, French Vodka Maker, Files for Bankruptcy
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Xyience to pay Key as much as unsecureds
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Interstate sheds properties
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Software:

SCO goes down and Sun's in Trouble
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Verdict in Novell/SCO Case a Mixed Bag
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Municipalities:

Here's why Jefferson County, Ala., has to go bust
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Vallejo staff gets the blues
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Cities should learn from Vallejo's problems
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Celebs:

Vick seeks more time in bankruptcy case
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Michael Vick participates in bankruptcy hearing by phone
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Bank Sues NHL Star
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Insider Compensation:

Bank executives' comp played part in meltdown, says bank group
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UK:

UK in need of Chapter 11
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Chapter 11 proposals unlikely to save more companies or jobs
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UK Insolvency Trade Body responds to Cameron's suggestion of bringing in US "Chapter 11" style insolvency regime
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UK Budget Deficit Balloons to Widest Since 1946
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Gieve Says UK Inflation Will Accelerate `Well Over' 4%
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Debtors 'denied IVAs because practitioners not paid enough'
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Canoeist's wife breaks down as she tells of husband's affair
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Kier to Shut Home Offices, Cut Unit Workforce by 60%
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France:

France economy slowing as inflation, euro bite-IMF
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EU:

Recession fears engulfing Europe
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Senate puts Europe's banks in the spotlight
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Canada:

Sale of Federal Gypsum product may let workers get paid
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Orillia manufacturer CFM out of business
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Decision expected on Pope and Talbot deal
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Russia:

A Short Course In Modern Russian History
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Russia Freezes Foreign Loans for Next Three Years
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Middle East:

In Dubai, the Boom Times Seem Endless
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Japan:

Zephyr Seeks Bankruptcy Protection on Tokyo Homes
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Three Former Japan Long-Term Credit Bank Executives Acquitted
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Korea:

South Korea's corporate bankruptcy down in June
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Italy:

Unicredit to pay 300 mln euros to Parmalat
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Germany:

German June Producer Prices Increase Most in 26 Years
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