June 19, 2008

Daily Bankruptcy News

Also available on the Web (with links to the news stories) Click Here
Prior editions: Click Here
Search prior headlines: Click Here
Search prior New Opinions: Click Here

Law:

Companies increasingly shun bankruptcy court
(DBN Subscription Required)

Sidley Names New Bankruptcy Partner
(DBN Subscription Required)

Skadden Lawyer Delves Into the 'Dark Pools' of the Oil Boom
(DBN Subscription Required)

GC's May Be Complaining, But Do They Really Want Change?
(DBN Subscription Required)

US Has Plenty of Law Schools, Jobs, Not So Much . . .
(DBN Subscription Required)

Summer Associate of the Day: 'Randy Savage'
(DBN Subscription Required)

Lerach: Jailhouse Confessions
(DBN Subscription Required)

Counsel Explains Why Milberg Settled: Law Firm Survival
(DBN Subscription Required)

Editorial Urges Prosecutors to "Keep Digging Into Tort-Bar Practices"
(DBN Subscription Required)

Will New Legal Recruiters Succeed With Pay-to-Place Business Model?
(DBN Subscription Required)

Here Come the Suits! Headaches Not Over for Former Milberg Lawyers
(DBN Subscription Required)

Associate Attrition Skyrockets By Year 5
(DBN Subscription Required)

Today Texas, Tomorrow the World: Lone Star Firms Are Out to Eat Your Lunch
(DBN Subscription Required)

Whacked Out on BlackBerrys in Depositions
(DBN Subscription Required)

Another Ethics Ruling on Metadata
(DBN Subscription Required)

CO issues metadata opinion
(DBN Subscription Required)

Second-Chairing the White House: A Look at Potential Lawyer-Veeps
(DBN Subscription Required)

Appeals court limits release of text messages sent on employer phones
(DBN Subscription Required)

Law Firms Settle With New York AG Over Alleged Pension Fund Abuses
(DBN Subscription Required)

Yet another partner leaves Heller
(DBN Subscription Required)

How to Build a Book of Business as a Young Lawyer
(DBN Subscription Required)

Most Eligible Bachelor?
(DBN Subscription Required)

Cedar Rapids Law Firm Opens Offices in Nearby Middle School
(DBN Subscription Required)

______________

Judges:

Federal Judge Could Face Rare Impeachment Proceedings Arising From His Own Bankruptcy Case
(DBN Subscription Required)

Judges, Hide Those P--- Collections
(DBN Subscription Required)

Former Judge Charged in Human Trafficking Case
(DBN Subscription Required)

Ex-Judge of the Day: Sue Holland
(DBN Subscription Required)

Texas Execution Postponed After Flurry of Appeals
(DBN Subscription Required)

Federal Judge Presides Over Gay Marriage of Former Clerk
(DBN Subscription Required)

Chief Justice Roberts assigns five Philadelphia judges for Kozinski ethics investigation
(DBN Subscription Required)

______________

Banking:

UBS, Credit Suisse Face More Writedowns, Goldman Says
(DBN Subscription Required)

Fifth Third, Regions, SunTrust Lead Second Day of Bank Declines
(DBN Subscription Required)

Fifth Third To Pass Collection Plate
(DBN Subscription Required)

Cincinnati Financial Mulling `Actions' on Fifth Third
(DBN Subscription Required)

Fremont General seeks bankruptcy protection
(DBN Subscription Required)

Banks Find New Ways to Mask Pain
(WSJ: separate paid subscription required)

Guy Hands, Deutsche Bank Unit Faces UBS Lawsuit Over Loan Sale
(DBN Subscription Required)

______________

Aviation:

United CFO says bankruptcy won't help airlines this time
(DBN Subscription Required)

Delta Joins In, Cutting More Flights
(NYT: separate free registration required)

Airlines weigh more jobs cuts, fees to offset fuel
(DBN Subscription Required)

Airline passengers sue to stop Delta-Northwest deal
(DBN Subscription Required)

Continental Airlines studying first-bag fee
(DBN Subscription Required)

Delta expects staff reduction to save $200M
(DBN Subscription Required)

Aloha sale of Mesa suit hits snag
(DBN Subscription Required)

Air Cargo Firm Files for Chapter 11 Again
(DBN Subscription Required)

Gemini files for Chapter 11 bankruptcy protection
(DBN Subscription Required)

Sun Country turns to state for a helping hand
(DBN Subscription Required)

The Catch Phrase Is 'a La Carte' as Airlines Push Additional Fees
(NYT: separate free registration required)

Former American Airlines chairman Crandall proposes industry re-regulation
(DBN Subscription Required)

______________

Bonds:

Bond insurer cuts below "AA" risky for munis, banks-BofA
(DBN Subscription Required)

Ambac Financial to Terminate Fitch Ratings Contract
(DBN Subscription Required)

Monowhine II
(DBN Subscription Required)

______________

Economy:

Bank issues global stock and credit crash alert
(DBN Subscription Required)

Fund managers react
(DBN Subscription Required)

Writedowns May Reach $1.3 Trillion
(DBN Subscription Required)

Major US company CEOs less optimistic, don't see recession
(DBN Subscription Required)

US Leading Economic Indicators Probably Were Unchanged in May
(DBN Subscription Required)

Jobless claims decline by 5,000 following surge
(DBN Subscription Required)

US Slowdown, Price Increase Isn't Your Father's Stagflation
(DBN Subscription Required)

GOP blocks bill that extends jobless benefits
(DBN Subscription Required)

Why We're Gloomier Than The Economy - Consumer Anxiety Outstrips the Data
(DBN Subscription Required)

CFOs: Economic Rebound a Year Away
(DBN Subscription Required)

House Democrats Call For Nationalization Of Refineries
(DBN Subscription Required)

Nigerian attack shuts oil field
(DBN Subscription Required)

______________

Jewelry:

Bankruptcy Watch: Whitehall Jewelers
(DBN Subscription Required)

______________

Gambling:

Back to the drawing board on Tropicana sale
(DBN Subscription Required)

Sin City is facing hard times
(DBN Subscription Required)

Debt-strapped Herbst Gaming shuts Northern Nevada casino
(DBN Subscription Required)

Tropicana conservator gets OK to start new round of bidding
(DBN Subscription Required)

______________

Corporate Reform:

Paulson Pushes Oversight Changes
(WSJ: separate paid subscription required)

A Brave New World for Financial Regulation
(WSJ: separate paid subscription required)

US SEC charges 2 former Sentinel execs in fraud case
(DBN Subscription Required)

Taking bankruptcy on the lam gains momentum
(DBN Subscription Required)

Do Options Backdating Class Actions Settle For Less
(DBN Subscription Required)

Bear Fund Managers Face Reckoning
(DBN Subscription Required)

Bear Prosecutors Focus on Email
(WSJ: separate paid subscription required)

2 former Bear Stearns managers surrender to FBI
(DBN Subscription Required)

______________

Furniture:

Dormia stores file Chapter 11
(DBN Subscription Required)

______________

Delivery:

Slowdown, Fuel Weigh on FedEx
(WSJ: separate paid subscription required)

______________

 

 

Real Estate:

N.Y. Chief Judge Unveils Program to Deal With Dramatic Rise in Foreclosures
(DBN Subscription Required)

Calif. lawmakers reject mortgage restrictions
(DBN Subscription Required)

Weekly mortgage applications fall 8.7% as rates rise
(DBN Subscription Required)

SARE Debtors Face Stringent Deadlines
(DBN Subscription Required)

New plan for Trump Tower Tampa builder: Bankruptcy
(DBN Subscription Required)

Forensic accountant to take on Cedar Funding
(DBN Subscription Required)

Bay Area home sales for May at record low
(DBN Subscription Required)

Cutler Bay Development files Chapter 7
(DBN Subscription Required)

SEC Probes Sickly Thornburg
(DBN Subscription Required)

Thornburg Says Survival in Doubt
(WSJ: separate paid subscription required)

Real Estate Predictions Coming True: Commercial Properties Sliding
(DBN Subscription Required)

MA: State, mortgage firms settle foreclosure 'rescue' case
(DBN Subscription Required)

Home sales in Houston area stay in a slump
(DBN Subscription Required)

Dallas commercial foreclosure postings rise 35%
(DBN Subscription Required)

Henderson, NV megaproject files for bankruptcy
(DBN Subscription Required)

Hundreds of lots in Gilbert, AZ might go to auction
(DBN Subscription Required)

More homes foreclosed in D.C. area than in New York, L.A.
(DBN Subscription Required)

______________

Wall Street:

US Stock-Index Futures Are Little Changed
(DBN Subscription Required)

Most European Stocks Decline
(DBN Subscription Required)

Most German Stocks Drop
(DBN Subscription Required)

China Stocks Tumble
(DBN Subscription Required)

Japan's Stocks Tumble
(DBN Subscription Required)

US Stocks Slide on Weds. As Oil Rises, 3 Month Low
(DBN Subscription Required)

Hedge Funds Hire From Wall Street as Jobs Disappear, Pay Falls
(DBN Subscription Required)

US Stocks Fall on Morgan Stanley Profit Decline, FedEx's Loss
(DBN Subscription Required)

Stagflation fears drive investors from equities - Global fund managers poll shows pessimism
(DBN Subscription Required)

Morgan Stanley takes $150 mln hit on Crescent REIT
(DBN Subscription Required)

FDIC chief calls for more investment-bank oversight
(DBN Subscription Required)

Morgan Stanley in rogue trade probe
(DBN Subscription Required)

Morgan Stanley's divestments feed uncertain future
(DBN Subscription Required)

Regulators Lay Plans for Investment Banks' Access to Fed Loans
(DBN Subscription Required)

Wild oil market bites big Wall St banks
(DBN Subscription Required)

Wall Street Lobbies to Protect Speculative Oil Trades
(DBN Subscription Required)

______________

Autos:

Chrysler sees low US June auto sales
(DBN Subscription Required)

US Auto Sales in June May Decline to 15-Year Low
(DBN Subscription Required)

Memo From Nardelli To Chrysler Employees
(WSJ: separate paid subscription required)

Shares of GM and Ford fall on gas and economy woes
(DBN Subscription Required)

Toyota trims truck production amid sales decline
(DBN Subscription Required)

Magna to Trim 400 Jobs in Ontario on Truck Demand
(DBN Subscription Required)

D(iamond)-Day Approaches
(DBN Subscription Required)

Johnson to pay near $200 mln for Plastech unit
(DBN Subscription Required)

Sale of most of Plastech's assets OK'd
(DBN Subscription Required)

GM is running out of gas
(DBN Subscription Required)

GM Suspends Work on Future Trucks, Focuses on Fuel-Saving Cars
(DBN Subscription Required)

Ford shares drop 7% after execs meet with Kerkorian
(DBN Subscription Required)

Kerkorian's Tracinda Increases Stake in Ford Motor to 6.5%
(DBN Subscription Required)

Auto suppliers in focus for buyouts, investment
(DBN Subscription Required)

______________

Mining:

Sterlite's Asarco deal hinges on US court ruling
(DBN Subscription Required)

Counter offer for Asarco viable: Grupo Mexico
(DBN Subscription Required)

Three green groups seek review of Vedanta's Asarco deal
(DBN Subscription Required)

______________

Layoffs:

Many CEOS have visions of swirling pink slips
(DBN Subscription Required)

______________

Fraud:

Trustee Says Rivas Withdrew$1.6 Million Just Before He Disappeared
(DBN Subscription Required)

______________

KERPs:

Trustee objects to Linens 'n Things severance plan
(DBN Subscription Required)

______________

Bankruptcy Litigation:

Citigroup, ING Defeat $4 Billion in Adelphia Claims
(DBN Subscription Required)

______________

Celebs:

Bankrupt! 65 Famous People Who Lost It All
(DBN Subscription Required)

Fielder owes more than $400000 in taxes
(DBN Subscription Required)

______________

Retailing:

Distressed retailers' assets can be hard sell
(DBN Subscription Required)

______________

Finance:

Could relief be on the horizon for battered leveraged loans?
(DBN Subscription Required)

______________

Municipalities:

Vallejo Asks Permission to Reject Contracts
(DBN Subscription Required)

Desert Hot Springs' solvency in crisis?
(DBN Subscription Required)

Jeffco cash woes scare tax sharks
(DBN Subscription Required)

Economic Squeeze Pushes Local Governments Toward Chapter 9
(DBN Subscription Required)

Future pension tab cause for concern
(DBN Subscription Required)

______________

Accounting:

Standard chiefs to get new global monitors
(DBN Subscription Required)

Bonuses face fair value overhaul
(DBN Subscription Required)

______________

Forest Products:

Pope & Talbot workers reapply for their jobs
(DBN Subscription Required)

______________

Politics:

Countywide's Politically Connected VIPs
(DBN Subscription Required)

Panel to Review Senator's Countrywide Loans
(WSJ: separate paid subscription required)

______________

Bankruptcy Research:

Bankruptcy Regimes and Gambling on Resurrection
(DBN Subscription Required)

______________

Timeshares:

Judge confirms Equivest plan
(DBN Subscription Required)

______________

Credit Cards:

TransUnion Reports Quarterly Drop in Card Debt, Delinquencies
(DBN Subscription Required)

______________

 

 

New Bankruptcy Opinions
(No new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Chapter 7, 12 & 13 Private Trustee Locator
(DBN Subscription Required)

Recent Ch. 11 Filings
(DBN Subscription Required)

Bankruptcy Jobs:

(1), (2), (3), (4), (5), (6), (7), (8), (9), (10), (11)
(DBN Subscription Required)

____________

Bankruptcy Litigation:

Deepening Insolvency Claim Against Deloitte & Touche Upheld
(DBN Subscription Required)

______________

Food/Drink:

Interstate continues losses as bankruptcy drags on
(DBN Subscription Required)

Food for thought: Will improved results lead to IBC sale?
(DBN Subscription Required)

______________

SIVs:

Restructuring SIVs: "As hard as nailing jelly to a wall" . . . "more challenging than Enron"
(DBN Subscription Required)

Clifford Chance scoops landmark Goldman Sachs SIV bailout
(DBN Subscription Required)

______________

Theme Parks:

Florida company makes winning $2.15M bid for Wild West World
(DBN Subscription Required)

______________

Theaters:

Studio Arena heads to bankruptcy court
(DBN Subscription Required)

______________

Hedge Funds:

Indictment of Bear Managers Near
(WSJ: separate paid subscription required)

Hedge fund chief warns of worse to come
(DBN Subscription Required)

Manhunt for hedge fund felon goes global
(DBN Subscription Required)

______________

Tax:

Tax Scandal's Mystery Man
(DBN Subscription Required)

House Bill Aims to Halt Private Collection of Tax Debt
(DBN Subscription Required)

J K Harris settles with California over misleading ads
(DBN Subscription Required)

______________

Newspapers:

Tribune Bankruptcy Speculation
(DBN Subscription Required)

USA Today ad revenue in free fall, a nightmare for the future of print
(DBN Subscription Required)

______________

Health Care:

Medical center sale plans move ahead
(DBN Subscription Required)

Moreno Valley hospital sale to be finalized
(DBN Subscription Required)

Hospital employees stage protest against Valley Health System
(DBN Subscription Required)

Hospital can still tap cash
(DBN Subscription Required)

Aetna, Wellpoint Tumble as Coventry Lowers Forecast on Medicare
(DBN Subscription Required)

Cancer patient recovers after injection of his own cells
(DBN Subscription Required)

______________

Tourism:

City Fights QSDI, Bankruptcy Trustee Settlement
(DBN Subscription Required)

______________

Religion:

Diocese seeks assault victims
(DBN Subscription Required)

______________

Bankruptcy Crimes:

Disbarred lawyer faces fraud charges
(DBN Subscription Required)

______________

Personal Finance:

Driving Less, Americans Finally React to Sting of Gas Prices
(NYT: separate free registration required)

In weak economy, forgoing $4 lattes for home brews
(DBN Subscription Required)

______________

Plastics:

Wellman, Inc. to Pursue Plan of Reorganization
(DBN Subscription Required)

______________

Cross-Border:

Multy seeks Canadian filing recognition
(DBN Subscription Required)

Main Knitting gets Ch. 15 ruling
(DBN Subscription Required)

______________

UK:

King Says UK Living Standards Will Slip in Inflation Fight
(DBN Subscription Required)

King and Darling issue bleak forecast
(DBN Subscription Required)

UK Retail Sales Unexpectedly Rise by Most on Record
(DBN Subscription Required)

BOE England Wins New Power, Promotion for King Allies
(DBN Subscription Required)

Darling Plans Biggest Shakeup of BOE Stability Powers Since '97
(DBN Subscription Required)

Billion-pound comeback for plumber
(DBN Subscription Required)

Builders hammered after Goldman alert on housing outlook
(DBN Subscription Required)

HBOS Says House Prices to Fall, Pushing Up Bad Loans
(DBN Subscription Required)

Mortgage lending down 19%
(DBN Subscription Required)

MPs blast regulator for standing by as insurers 'plundered' assets from life funds
(DBN Subscription Required)

Taxman sifts through stashes uncovered in police raid
(DBN Subscription Required)

Bosses fear for London's future
(DBN Subscription Required)

______________

Mexico:

Mexico freezes basic food prices until year-end
(DBN Subscription Required)

______________

Kenya:

New Bill on bankruptcy on the way
(DBN Subscription Required)

______________

Canada:

Police Charge Six Over C$95 Million Norbourg Fraud
(DBN Subscription Required)

Hollinger Inc.: Closing of Court-Approved Settlement with Significant Secured Creditor and Sun-Times Media Group
(DBN Subscription Required)

Industrial Alliance Shifts Debt Holdings After BCE
(DBN Subscription Required)

Mortgage industry raises alarm on "fraud for shelter"
(DBN Subscription Required)

Canada Inflation Rate Rises More Than Forecast
(DBN Subscription Required)

______________

India:

Legislative winds may blow away lifeline for sinking companies
(DBN Subscription Required)

______________

Austria:

Vienna is the worst hit as credit crunch hits Austria
(DBN Subscription Required)

______________

Spain:

Spain's Habitat in talks to hire Rothschild
(DBN Subscription Required)

______________

Korea:

Former Daewoo Chief's Hidden Wealth Found
(DBN Subscription Required)

______________

EU:

Imperial Tobacco Plans to Cut 2440 Jobs in Europe
(DBN Subscription Required)

______________

Japan:

Japan's Economic Outlook 'Extremely Uncertain'
(DBN Subscription Required)

______________

Italy:

Parmalat gets go-ahead on suit against founder
(DBN Subscription Required)

______________

 

Please note that the Daily Bankruptcy News is primarily a news link gathering service.   This means that most of the headlines contained in the publication are a collection of links to stories posted on the Internet by various third party publications.  Such content is owned by third party sources, not the Daily Bankruptcy News, and in some cases, these links change or expire, which means you may not be able to view some news stories in prior editions of the Daily Bankruptcy News. The DBN subscription fee for access to certain links is not a fee for access to the content of the links, but is a charge for the considerable work involved in gathering, organizing and presenting the links. Use of this site and The Daily Bankruptcy News is subject to our Terms of Use.If you received the Daily Bankruptcy News via email (and you have a paid subscription account), to view a news story, click on the headline, and the story should open in your web browser. To view additional stories, click back to the email and click on additional headlines, which will cause new stories to open in your web browser.  You can view the Daily Bankruptcy News on the web by clicking here, or by going to BKINFORMATION.COM and clicking on the Bankruptcy News button.  Note that the Daily Bankruptcy News is distributed via "HTML email" in which the links to the news stories are embedded in the headlines.  The email you receive should look like a 3-column newspaper, with headlines for each story. If you receive the Daily Bankruptcy News by email and the copy you receive is not formatted like a 3-column newspaper, or does not seem to contain links to the news stories, you may have an email client that is not capable of receiving HTML email, or is not configured to display such email.  You can however, receive a daily email notifying you when the Daily Bankruptcy News is updated on the web site. If you would like to receive such an email, please let us know at admin@bkinformation.com.You can search the headlines from prior editions of the Daily Bankruptcy News by clicking here.

Advertising
Advertising is available in the Daily Bankruptcy News in a variety of places, formats and prices. Go to http://bkinformation.com/DBN_ADs.htm  for a list of choices.  Feel free to contact us with any questions.

Passwords
Access to certain links in the Daily Bankruptcy News is available only to readers holding a paid subscription.  These links are currently marked with a "DBN Subscription Required" notation. The cost of a subscription is $50/year, payable annually.  Volume discounts are available for sites with multiple users. Click here to see a schedule of discounts. Complimentary subscriptions are available for full-time educational and governmental employees and for full time students. For information about discounts or educational/governmental subscriptions, contact us by clicking here. A separate password is required for each member of a firm wishing access to restricted links. New readers can receive a free password good for 30 days by going to http://bkinformation.com/RegistrationForm.cfm. Readers who wish to change their passwords should go to http://bkinformation.com/ChangePasswordForm.cfm. Readers who have forgotten their password should go to http://bkinformation.com/GetPassword.cfm

Adding Your Email Address To The Distribution List
If you would like to start receiving the Daily Bankruptcy News by email each day, go to http://bkinformation.com/SubscribeDBNForm.cfm  and fill in the information requested.  There is no charge to be placed on the distribution list to receive the headlines, although access to many of the links behind the headlines requires a paid subscription (see above, under Passwords). If, after adding your email address to the distribution list, you do not receive an email confirming the addition, please contact us by clicking here for help.  

Removing Your Email Address From The Distribution List
If you already receive Daily Bankruptcy News by email and you wish to remove your email address from the distribution list, click here and send the email that should appear.  Note that the email must be sent from the same email address at which you are receiving the Daily Bankruptcy News. You do not need to type anything in the body of the email message.   If you do not receive an email confirming deletion of your email address from the distribution list  for the publication, contact us by clicking here for help.

Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C.  You can reach us at 281-242-6208 or at accounting@bkinformation.com (email inquiries are usually answered substantially more quickly than phone inquiries).