March 5, 2008

Daily Bankruptcy News

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Law:

Bankruptcy Boom Has Law Firms Anticipating Rush of Business
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Fulbright Names Bankruptcy Partner
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Kirkpatrick Names New Bankruptcy Partner
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Brian Greer joins Dechert as Counsel in Business Restructuring and Reorganization Group
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Thacher Proffitt Announces New Lateral Bankruptcy Partner, Hugh McDonald
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Weil Gotshal takes Bear Stearns legal chief to run global operations
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A child of the '60s turns corporate bankruptcy lawyer
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New Spin on Dechert Layoffs
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Layoff Watch: An Update on Dechert
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Judge of the Day: Bill Wilson
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Are Associate Bonuses Counterproductive?
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Balducci a liar, junior Scruggs says
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Qualcomm's Hard-Learned Lessons
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How Law Firms Can Stay Afloat When a Recession Strikes
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Test to Spot Liars Takes Center Stage in PI Cases
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Frustrated Fan Faces First Amendment Flap
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Judith Regan's Lawyers Sue Her for Fees
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Lawyer and Client Sanctioned Over Client's Conduct, Use of 'F Word' During Deposition
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Pretrial Gambit Bruises Client in Backdating Case
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Court: 'No Way on Earth' Attorney Fee Request Justified
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A Multidisciplinary Team That Can Cope With The Subprime Crisis
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On eve of Hollywood wiretaps trial, private eye still tightlipped, 'but i might ask questions'
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Hollywood on Edge of Its Seats as Wiretapping Trial Is Set to Start
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Pellicano Defendant's Firm Weathers the Storm
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Experts Say Airline Merger Means More In-House Work
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Chadbourne & Parke to Open First Latin American Office
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Private equity star McKeeve quits Kirkland
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Kirkland strategy under pressure as McKeeve quits
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Michael Jackson's Former Lawyers Awarded Millions in Suit Over Secret Videotaping
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ABA Report Shows Little Change in Law School Enrollment
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Say What?!
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Detroit: 'Web of Deceit' Implicates Lawyers
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Little old ladies say the darndest things
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Banking:

Citigroup May Need Cash, Dubai Says
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Assurances From Citigroup, but Skepticism on Wall Street
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Citi Needs A Money Fix, Quick
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What's the Matter With Citi?
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Will Citi hit $15?
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Citigroup confident in capital levels
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Citigroup Shares Plummet on Write-Down Worries
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Banks' losses could put $900 billion squeeze on consumers
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Fed Admits Missteps on Banks
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Stricter Bank Regulation Likely, Following Mortgage Meltdown
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Credit Agricole Has Fourth-Quarter Loss on Writedowns
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Accounting regs exaggerating bank woes
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Message to bankers: Bail out thyselves
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Wall Street:

Stocks Pull Off Lows on Bargain Hunting
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U.S. Stocks Fall on Bernanke Plan, Oil's Retreat; Banks Decline
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Trading on Lehman's Turn for the Worse
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Another Wall Street worry: A potentially flawed risk formula
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German Stocks Rise
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Hong Kong shares close flat
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Stocks Poised to Rally
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Autos:

GM plant closures to reach seven by next week
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GM offers buyouts
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Judge OKs GM-UAW deal to create retiree health care trust
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Plastech continues to deliver parts to Chrysler
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Delphi not sure when it can leave Chapter 11 status
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Strike at American Axle idles suppliers
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Creditors assail Blue Water DIP
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Auto sales going south
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Horse Racing:

Judge approves New York Racing Association land sale
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Bankruptcy Crimes:

Federal defendant in $50M case ruled a flight risk
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Celebs:

Details of Lou Pearlman plea deal made public
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Helping feds key to Pearlman deal
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Food/Drink:

Groups ask court to reject Interstate Bakeries plan
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Furniture:

Rhodes, Levitz failures contribute to Collezione Europa's Chapter 11 filing
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Collezione to seek use of cash
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Wickes real estate auction set for March 10
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Domain Home owes $19.8M to creditors
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Credit Cards:

Credit cards used as lifeline now a problem
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Plastic fantastic
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Telecoms:

2nd largest Dominican telecom files for chapter 11 protection
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Suitors, feds interested in Prosser
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Real Estate:

Bernanke Urges Banks to Forgive Portion of Mortgages
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Did You Hear The One About The Judge, The Fed Chairman And The Female Attorney From Arkansas
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Bernanke's Bold Call
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Bernanke to banks: Get real, reduce loan amounts
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Bernanke Call for Mortgage Forgiveness Puts Pressure on Paulson
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Step by Step, Bush and Fed Move on Mortgage Rescue
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People's Choice Files Plan to Liquidate
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When Is A Repurchase Agreement Not A Repurchase Agreement?
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US files new lawsuit against Countrywide
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Countrywide Delays Foreclosure Sales
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Clouds Gather Over Countrywide
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Advocacy group calls for public hearings on Countrywide-BofA sale
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Jon Wood's Fight Against Countrywide/BofA
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Mortgage application volume rises
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Kennedy Homes sues lenders
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Fremont Faces Defaults
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Feds prosecuting foreclosure scam of California man
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Women Targeted for Subprime Lending
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Chapt. 7 for Kurlemann Homes
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Thornburg, Meet Mr. Market
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Families flock to foreclosure fairs
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The Housing Fix
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Throw the brickbat at deceitful builders
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The iPod economy's sad song
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The Subprime Mortgage Crisis: Are We Past The Worst?
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Shifting Sands: The Illusion Of An Ever-Rising Residential Real Estate Market And The Subprime Mortgage Crisis
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Taking A Lesson From History In Viewing The Subprime Crisis
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A Group Approach To Coping With The Subprime Mortgage Crisis
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Subprime iceberg, a year later
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Reexamining Non-Judicial Foreclosures
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US fund accused of fraud linked to subprime
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Dunmore matriarch sues grandsons, alleges pressure over loans
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Regulators Fine Ryland Over Lending
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Ga. bills target high foreclosure numbers
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Indymac Bank Reports January Default Rates
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Economy:

Bernanke: Stop The Bleeding
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Service Industries in US Probably Contracted for Second Month
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Municipalities:

Jefferson Cnty may default on $3.2 bln of debt
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Vallejo City Council approves plans to avoid emergency bankruptcy
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Impetuous, imprudent, in trouble
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McCall threatens bankruptcy on March 5
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State, municipal retiree health plans underfunded, says GAO
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Hedge Funds:

Coventry's Motion to Dismiss Granted in Ritchie Lawsuit
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US fund accused of $60 mln fraud linked to subprime
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Peloton fund fall highlights danger of overreaching
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Hedge fund activist takes on SEC
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Aviation:

Delta Pilots' Plan Sells Huge Block
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Pilots gambit risk to NWA-Delta merger
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ATG renegotiates credit agreements
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Jet maker looking for buyer
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Berlusconi comments put Alitalia sale in doubt
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Retailing:

Tweeter Gets Ch 11 Extension
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Glimcher Plays Down Fears Of Widespread Store Closures
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Health Care:

Is Bankruptcy The Cure For Distressed Hospitals?
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Despite setbacks, many hope hospital will reopen
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Pascack seeks OK on land sale
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Judge rules against acquittal motion in National Century case
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National Century defense opens its case with expert's analysis
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Defense: Computer data may have been lost
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An unfair struggle
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Fig's failure haunts fat-removal industry
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Personal Finance:

5 Ways to Stop Living Paycheck to Paycheck
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Layoffs:

PRC to cut 850 jobs
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Gambling:

Casino firm wants back in
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Tax:

High Court Rules for Taxpayer, Ditches 9th Circuit "Contemporaneous Intent" Rule
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IRS Renews Contracts with Collection Agencies
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Toys:

Lionel hearing delayed two weeks
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Trucking:

Truckers' road gets rough
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Builders Transport's plan confirmed
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Anna:

Anna Nicole Smith Baby Inherits Unknown Amount
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Paper:

Ecusta workers deserve a quick payout
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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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Bankruptcy Statistics:

Filings for Bankruptcy Up 18% in February
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Consumer bankruptcies to rise in '08
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Bankruptcy filings climb
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Toledo area bankruptcy filings increase for month, year
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Bankruptcy Reform:

Bankruptcy code change could rise again
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Boswell defends 2005 vote
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Better than a bailout
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Finance:

Maturing leveraged loans, junk bonds, may trigger big rise in defaults
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Moody's warns that deterioration for junk bonds and bank facilities outweighs the slight improvement in last year's ratings
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Forest Products:

Pacific Lumber Unit Seeks $51M in Loans
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Student Debt:

Moody's Downgrades Sallie Mae
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Environmental:

Asarco settles Missouri contamination claim for $79.6 million
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Two attorneys win $14 million for those harmed by Superfund site
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Avoidance Actions:

Loose Lips Sink Ships And Other Fraudulent Conveyance Lessons
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Mass Torts:

$4.85 Billion Vioxx Settlement Moving Forward
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WorldCom:

WorldCom's fall featured in CNBC series
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Software:

SCO files plan to reorganize with $100m investment
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SCO reorganization plan includes new CEO, board
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Accounting:

Conseco, Again
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Banks Valuing Subprime Assets Have To Pass Auditors' Muster
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The Shaq Attack on Fair Value
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Discharge:

Depressed Debtor Denied Bankruptcy For Destroying Records
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Asset Protection:

European Commission Moves to Broaden the Attack on Tax Havens
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UK backs European tax haven offensive
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Bonds:

California Draws Record Demand as Muni Bonds Rally
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Principal Gives Bond-Insurer Exposure
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Split plan not in the books for Ambac
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Insider Compensation:

WaMu Shields Executive Bonuses From Subprime
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Law Firms Ask IRS to Soften Pay Stance, Agency Delays Ruling's Implementation
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Apple shareholders approve proposal on executive pay
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Corporate Reform:

Jailed Lawyer Faces More Heat From SEC in $1 Billion Viaticals Scam
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Study Says Gifts of Stock Precede Sharp Price Dips
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SEC Settles With Former Broadcom Exec
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Jewelry:

Judge clears sale of Fortunoff
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Oil/Gas:

Viking can't dig itself out of hole
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Viking Drilling still over a barrel despite high oil price
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Motorcycles:

Creditors going after motorcycle company
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Creditors throttle Ironhorse
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Bankruptcy Research:

Does Debtor Protection Really Protect Debtors? Evidence from the Small Business Credit Market
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UK:

A welcome lifeline if you're drowning in debt
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Credit card use undiminished by credit crunch
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Credit Crunch Hits Brokers
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Two-fifths unable to save as living costs spiral
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L&G ready to sue over Rock
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Canada:

Bankruptcy filing for TV network TQS intended as message to Ottawa
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Bank of Montreal, Scotiabank Profits Fall
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Japan:

70 Shinginko debtors go under
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Switzerland:

Vitesse In Serious Financial Trouble Again
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Australia:

Doctors in demand as companies feel pain
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Spain:

Dubai's Spanish standoff over Colonial
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