June 18, 2008

Daily Bankruptcy News

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Law:

Corporate Bankruptcy Filings Lag, for Now
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Soaring Gasoline Prices Haven't Fueled Commuting Changes at Most Law Firms
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Piccadilly Post-op
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Economic Downturn Means More Malpractice Suits
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Law Firm Back From the Brink
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Ex-Milberg Partners Sue Convicted Leaders for Breach of Financial Duty
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Milberg Counsel William Taylor III: The Day After
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The Firm
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Class Action Guru Stan Chesley Takes Stand in Fen-Phen Trial
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A Letter Left on a Copier Spurs an Associate's Ethical Response
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Wiley Rein Named by Chambers USA As One of Washington DC's Top Bankruptcy and Restructuring Practices
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How Associates Can Blow the Business-Development Bell Curve
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"Beware the senior associate"
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The Sudoku Jury, Redux: Are the Lawyers to Blame?
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Pellicano wants new Hollywood wiretaps trial
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A Look at London's Legal Market
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Where biz is booming: Debt workout, repos
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Mass Defection Rocks Firm, Closes Office
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Baker & McKenzie in Court Fight Over 11-Year-Oldýs Birthday Present?
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Law Student, 77, Looks Forward to Practicing
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Parent Firm Damages Fixed for Control Person Liability
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Attorney Disbarred; Court Cites 'Unbelievable' Testimony
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Career Alternatives for Attorneys: Accounting Firms
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Charges Against Britney Spears Dropped, But Her Dad Bills Her for Being Her Dad
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Dinged By A String?
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Say What?!
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Judges:

Former U.S. Chief Bankruptcy Judge, E.D.N.Y., Melanie Cyganowski Joins Otterbourg, Steindler, Houston & Rosen
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In what world is it ok for a judge and a prosecutor to sleep together while working on the same case?
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Texas Judge Halts Planned 6 PM Execution, Appeals Court Overrules, Clock Ticks
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The Kozinski Controversy: Had Enough Yet?
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Judge Kozinski's Dutch Uncles
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Municipalities:

JPMorgan, 11 Other Firms Sued Over Jefferson County Debt Crisis
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Airports Poised for Privatization
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Wall Street:

US stocks head for lower open Weds.
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US Stocks Retreat Tues.
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European Stocks Drop Weds
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Goldman Sachs 2Q falls but beats expectations
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Even Goldman guys worry
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Goldman's Profit Prowess
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Goldman's SIV deal welcomed
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Assets Get Harder to Shake
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Aviation:

US Airlines May Lose Up to $13 Billion This Year
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Facing $10 billion loss this year, airlines back curbs on futures trading
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Soaring Fuel Prices Pinch Airlines
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Conditions 'worse than 9/11 for airlines'
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More bad news for US Airways, other airlines
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Virgin America to cut Q4 capacity due to fuel price
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Northwest to trim flights, raise its fares
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UAL sees fuel costs of $3.31/gallon second quarter
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Delta tries to cut ties with Mesa and Pinnacle
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Stop Delta, Northwest from merging
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The Second Death of the US Airlines
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Southwest May Expand Fleet in 2009 as Airlines Cut
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Smaller airlines struggling to stay aloft
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Yucaipa to purchase Aloha suit
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Canada's airlines: Risky business
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Canada union demands federal help
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Air Canada cuts jobs, capacity as fuel cost leaps
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Russian airlines too affected by global oil trends
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Ticket agencies demand money from Adam Air management
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CAA suspends int'l flight routes of debt-ridden FAT
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Newspapers:

Newspaper companies in trouble--the latest list
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Tribune may be moving closer to default
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Derivatives:

As consumer prices climb, derivatives find new favor with bankers
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Health Care:

Employer medical costs to jump nearly 20% in the next two years
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Judge in Ohio won't delay corporate fraud trial
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Struggling firm secures access to its drug test lab
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Valley Health System campaigns to restore confidence
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Hospital official slams Grand Jury report
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Hospital Workers Say Concessions Will Diminish Patient Care
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Student Debt:

Lawmaker wants scrutiny for student loan sellers
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Examiners:

Ex Appeal--Reveal
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Real Estate:

Housing starts: The bad numbers get much worse
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US MBA's Mortgage Applications Index Fell 8.8% Last Week
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Ailing Builders Getting Back Into Land Game
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Two More Builders Buckle
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When Builders Go Broke
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US Housing Starts Drop to Lowest Level in 17 Years
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S&P Warns Rating Cuts Possible On $46.48 Billion In CDOs
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Hope Now Alliance announces new guidelines
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Thousands want Shaq to help with mortgages
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Judge orders Boise Place company liquidated
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AIG's Wilmington Stops Home Lending Through Brokers
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NJ charges fraud in $5 million of mortgages
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Unfinished subdivisions grinding to a halt
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American Invsco Foreclosures
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Matrix can sell more homes
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City Crossing creditors to confer
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Avoiding a Lennar meltdown
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Risk Mitigation And Subprime
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Picturing Foreclosure at The O.C.
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Economy:

Economic outlook "subprime," no recession
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Wholesale prices bolt higher in May
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Housing, Prices Signal Some Stagflation
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Industrial Production in US Fell 0.2% in May, Fed Says
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Poole Says Fed Should Raise Rates 'Sooner,' Not Later
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Oil prices edges up slightly Weds. ahead of crude report
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Floods Add Pressure on Gas Prices
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Oil futures dip Tues. on supply, demand prospects
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Congress takes aim at oil speculators
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Limits Put on Some Oil Contracts On ICE Amid Outcry Over Prices
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Kuwait Says Oil Over $100 Is Too High; Support Saudis
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Autos:

Johnson Controls moves step closer to Plastech buy
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Plastech founder may get $2 million
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Detroit's Shrinking Sales Take a Toll on Dealerships
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Chrysler CEO warns staff of worsening sales
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Cerberus Rues Chrysler Drain as Nardelli Fails to Arrest Losses
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GM may borrow as much as $10 billion to ease cash flow
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Ford to expand summer closure at three US plants
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Ford CEO Meets With Tracinda, Discusses Turnaround
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Ford Says Kerkorian's Investment Is a Sign of Confidence
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Dana to pay $125M to settle environmental claims
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Theme Parks:

Wild West World to go to highest bidder
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Tempers Flare
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Mining:

Legal surprise in Asarco case gives Grupo Mexico new life
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Grupo Mexico says its plan is best for creditors
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Asarco Still Faces Billions in Environmental Liabilities
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Asarco review urged
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Environmental:

Judge OKs Mike Horse Dam cleanup settlement
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Banking:

Banks may need another $65 billion in capital to weather crisis
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Subprime Fallout on Regional Banks
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UBS Falls on Report Bank May Post 5 Billion-Franc Writedown
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Layoffs:

Rohm & Haas to Cut 925 Jobs
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Corporate Reform:

New Trial for Official in Abramoff Case
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Astonishing Sentence, Astonishing Scam
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Fraud:

Attorney For Rivas Creditors Questioning More Of His Associates
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2nd Circuit Clarifies Investor Role in Establishing Fraud
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Man gets prison time for $99.9M health fraud
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Food/Drink:

Yoshinoya New York to File for Bankruptcy
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Bankruptcy court trustee pitches deal with Your Black Muslim Bakery CEO's mother
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Student Debt:

Bill Promotes Universal College Loans
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Elder Debt:

New Chapters in seniors' lives: 7 and 11
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Finance:

Creditworthiness Is in the Eye of the Beholder
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Textiles:

Dan River funding okayed
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Accounting:

E&Y in court again over fraud failures
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New Bankruptcy Opinions
(2 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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Defaults:

U.S. Defaults Keep Soaring
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Enron:

You Cannot Be Serious, Enron Tells Hewitt
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Corporate Governance:

Yahoo shareholders' bid for quick trial rejected
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Jewelry:

Whitehall Considers Bankruptcy Protection
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Mass Torts:

W.R. Grace Faces Bank Hurdle
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Politics:

Dodd denies any special treatment on mortgages
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Obama promises tuition tax credit
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Obama Sheds Light on Economic Plan
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GOP is cool to McCain's economics
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Accounting:

It's the job - piss someone off
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Hedge Funds:

Worldwide Hedge Funds Post First Back-to-Back Gains This Year
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BlueBay Cuts Fees as it Warns on Profits
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Religion:

Diocese moves toward abuse settlement
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Bonds:

MBIA Debt Is Setting Up a Quandary
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Construction:

Buffett's USG Bet Hits a Wall
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Lowe's drops on poor construction data
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Ann-Lee case converted
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Tourism:

Trustee, LB spar over QM terms
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Printing:

US judge approves Quebecor sale of European assets
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Venue:

Miss., Ark. bankruptcies off limits in Memphis venue
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Turnarounds:

Quick Action Averts Crash of Aerospace Manufacturer - CEO's Ego Nearly Leads to Company's Demise
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Psychological Barriers to Hiring a Turnaround Pro
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Golf:

Hunter's Point to seek interim DIP
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Publishing:

Judge approves Ziff Davis reorganization plan
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Software:

SCO gets plan extension
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Credit Cards:

Credit card losses increase alongside worsening economic trends
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Class Claims JP Morgan Chase Reaped Millions By Willful Error On Leap-Year Interest Rates
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Unauthorized Charges Gone Wild
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Capital One's Chargeoffs Rise
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Alliance Data's Chargeoffs Up
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UK:

Surging UK Swap Rates Threaten Housing 'Crash'
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Northern Rock repaying government loan too quickly, economist warns
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Bank braced for 28% drop in property prices
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Financial woes hit the middle classes
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Student loan borrowings soar by a third
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Canada:

BCE Rises After Canada's Supreme Court Hearing on Buyout Plan
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Fur rebel dogged for cash
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Saan stores hold closing out sale
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New rules to make risky funds more transparent
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Ainsworth Lumber plans debt-for-equity swap
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Cayman Islands:

The Independent Director And Protecting Investors In Cayman Funds
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Australia:

Subprime loans melt, funds burn, housing implodes
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Housing Market Drops Housing Prices by 16%
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EU:

Seven EU states call for more state aid for fishing
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Italy:

Parmalat Suits Target Deloitte, Grant
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Germany:

IKB Shareholders Seek Probe of German Finance Agency
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German Economy Faces 'Slowdown' in 2009
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f

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China:

Labor Costs Rise, and Manufacturers Look Beyond China
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