May 7, 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:

Answers to the Questions Associates Should Be Afraid to Ask
(DBN Subscription Required)

BigLaw Firm Banks on Bankruptcy, Bags Five-Lawyer NY Team
(DBN Subscription Required)

What Do Firm Leaders Expect from the Recession?
(DBN Subscription Required)

Lawyer Hopes F-Word Means 'Forgiven,' Asks Court to Lift Sanctions
(DBN Subscription Required)

Rebates from airlines to law firms and whether they should be passed through to clients
(DBN Subscription Required)

Proving the Pregnancy Discrimination Case
(DBN Subscription Required)

Miscarriage of Justice at Paul Hastings?
(DBN Subscription Required)

Going Two-Tier? Not So Fast
(DBN Subscription Required)

Freshfields follows Linklaters with £66k associate rate
(DBN Subscription Required)

Preparing for Business Development in a Recession
(DBN Subscription Required)

Banks Getting Tougher on BigLaw Loans
(DBN Subscription Required)

A Spirited Practice: Combining Law With Religion
(DBN Subscription Required)

Special Counsel's Office Raided By FBI Amid Obstruction Probe
(DBN Subscription Required)

Lawyer of the Day: Scott Bloch
(DBN Subscription Required)

Spotlight on the OSC's Scott Bloch, No Stranger to Controversy
(DBN Subscription Required)

Pepper's Growth in Laterals, Gross Revenue, Nothing to Sneeze At
(DBN Subscription Required)

Terminated Associate Discloses NDA
(DBN Subscription Required)

McGuireWoods Appoints New Managing Partner
(DBN Subscription Required)

McCain Says He Would Put Conservatives on Supreme Court
(DBN Subscription Required)

Say What?!
(DBN Subscription Required)

Plaintiffs, Third-Party Defendants Can Share Counsel
(DBN Subscription Required)

Prosecutorial misconduct in its highest form
(DBN Subscription Required)

______________

Judges:

'Pants Suit' Judge Back in Court, Now Suing for Job and $1 Million
(DBN Subscription Required)

Judge Booted from Bench Over 24-Year-Old Use of Bogus SS#
(DBN Subscription Required)

______________

Distressed Investing:

BlackRock to buy $15B subprime debt from UBS
(DBN Subscription Required)

Distressed investing opportunities
(DBN Subscription Required)

______________

Gambling:

MGM Mirage profit dips 30% as Americans spend less at the table
(DBN Subscription Required)

Tropicana Files For Bankruptcy As Casino Market Crumbles
(DBN Subscription Required)

Tropicana bondholders ask for trustee control
(DBN Subscription Required)

Tropicana officials calm fears in wake of bankruptcy filing
(DBN Subscription Required)

Tropicana Entertainment, LLC Receives Court Approval of Its First Day Motions
(DBN Subscription Required)

Loss of License Protects Tropicana Atlantic City from Corporate Parent's Chapter 11
(DBN Subscription Required)

Tropicana: Events turn on 'former' subsidiary's plight
(DBN Subscription Required)

Bankruptcy made some Tropicana bidders hold back
(DBN Subscription Required)

Casino's Bankruptcy Signals Gambling Boom's Bust
(DBN Subscription Required)

Bankruptcy won't affect Aztar workers
(DBN Subscription Required)

Weak economy trumps casino stocks
(DBN Subscription Required)

______________

Autos:

Chrysler tries fuel subsidy to woo buyers
(DBN Subscription Required)

GM, Toyota won't follow with gas subsidies
(DBN Subscription Required)

Chrysler's timely, but misguided, incentive plan
(DBN Subscription Required)

Plastech plant closing
(DBN Subscription Required)

GM seals a UAW deal, but not at Mich. plant
(DBN Subscription Required)

UAW turns up the heat
(DBN Subscription Required)

Ford heirs mull Kerkorian risk
(DBN Subscription Required)

Frustrated drivers try to sell their gas-guzzlers
(DBN Subscription Required)

______________

Health Care:

Failing Economy Predicts Worse Health
(DBN Subscription Required)

Carecorps fights ombudsman appointment
(DBN Subscription Required)

Cascadia bail out
(DBN Subscription Required)

Bankruptcy attorney for doctor charged with indecent assault
(DBN Subscription Required)

______________

Forest Products:

Pope and Talbot to shut 3 pulp mills, affects nearly 1000 jobs
(DBN Subscription Required)

Palco supports Marathon plan
(DBN Subscription Required)

______________

Aviation:

US Airlines Trim Long-Haul Flights On Sky-High Fuel Costs
(DBN Subscription Required)

Airline stocks tumble as oil prices push higher
(DBN Subscription Required)

United and US Airways Flight Attendant Leaders Comment on Merger Reports
(DBN Subscription Required)

Supporters line up behind Delta-Northwest merger
(DBN Subscription Required)

Frontier Airlines reports increase in passengers
(DBN Subscription Required)

Dead end for air safety, passenger rights bill
(DBN Subscription Required)

Prima Charter fails to escape bankruptcy
(DBN Subscription Required)

High fuel costs raise losses at easyJet
(DBN Subscription Required)

The Eos demise: who benefits?
(DBN Subscription Required)

Analysts Braced for BA Profit Warning
(DBN Subscription Required)

______________

Hedge Funds:

Hedge fund investors feeling bearish
(DBN Subscription Required)

______________

Insurance:

Swiss Re profit plunges more than expected
(DBN Subscription Required)

______________

Predatory Lending:

Thousands Rally For and Against Payday Lenders
(DBN Subscription Required)

______________

Plastics:

Plastic bag company files for bankruptcy
(DBN Subscription Required)

______________

Credit Cards:

Credit-Card Trends Remain Negative
(DBN Subscription Required)

______________

Beauty Products:

Beauty Market Sags Amid Downturn
(WSJ: separate paid subscription required)

______________

UST:

UST Director Testifies In Congressional Hearings
(DBN Subscription Required)

______________

 

Real Estate:

Bush Advisers Oppose Housing Measure, and Vow a Veto
(NYT: separate free registration required)

Congress May Urge Mortgage Principal Reductions for Struggling Homeowners
(DBN Subscription Required)

Warren: Banks - State Laws Not for Us
(DBN Subscription Required)

Preemption Chutzpah
(DBN Subscription Required)

Lenders Freeze Home Equity Lines, Avoiding Possible Chapter 13 Cuts
(DBN Subscription Required)

Fannie offers dismal housing outlook
(DBN Subscription Required)

Doubts Raised on Mortgage Agencies as Losses Mount
(NYT: separate free registration required)

Fannie's Alt-A Issue
(DBN Subscription Required)

Fitch Places Fannie Mae's Preferred Stock On Rating Watch Negative
(DBN Subscription Required)

Fannie Mae wins cheers despite loss
(DBN Subscription Required)

Confusion Reigns at Fannie Mae
(NYT: separate free registration required)

Fannie Mae ready to 'feast' on housing bust
(DBN Subscription Required)

Fannie Mae Capital Rules Relaxed; $6 Billion Share Sale Planned
(DBN Subscription Required)

Fannie Mae, financial shares recover after early dive
(DBN Subscription Required)

Out of the frying pan, into the Fannie Mae
(DBN Subscription Required)

Countrywide To Take Steps To Limit Bankruptcy Errors
(DBN Subscription Required)

Countrywide Executive Addresses Senate Subcommittee
(DBN Subscription Required)

US Senator questions BofA's Countrywide bid
(DBN Subscription Required)

Why BAC + CFC May Never Close
(DBN Subscription Required)

Acquisition of Lender Is Possibly in Jeopardy
(NYT: separate free registration required)

Subprime Legal: In Cwide/BofA, Will Law Stand in the Way of Business?
(DBN Subscription Required)

Will BofA Bail on Countrywide?
(DBN Subscription Required)

Lawmakers target mortgage lenders
(DBN Subscription Required)

UI prof to testify on lender overcharges in bankruptcies
(DBN Subscription Required)

Senate Group Holds Hearing On Bankruptcy Handling Among Lenders
(DBN Subscription Required)

GMAC negotiating terms of loan to keep mortgage subsidiary out of bankruptcy
(DBN Subscription Required)

ResCap cash woes could force bondholders to OK debt swap
(DBN Subscription Required)

Could ResCap's future portend bankruptcy?
(DBN Subscription Required)

The Foreclosure Tax Credit: Blessing or Curse?
(DBN Subscription Required)

Tight Credit Worries for a Hotel and Mall Operator
(NYT: separate free registration required)

Belle of BR's parent firm files bankruptcy
(DBN Subscription Required)

Tahiti Gardens Associates files Chapter 11
(DBN Subscription Required)

Empire Land gets costly DIP
(DBN Subscription Required)

Beazer Defaults, Reassures Investors
(DBN Subscription Required)

Woman Claims Beazer Homes Fired Her For Reporting A String Of Frauds
(DBN Subscription Required)

Suburban Office Market Uneasy but Holding Up
(NYT: separate free registration required)

Village Green files for bankruptcy
(DBN Subscription Required)

With or Without Dann, Ohio's Subprime Work Likely to Continue
(DBN Subscription Required)

Is Housing Slump at a Bottom?
(WSJ: separate paid subscription required)

______________

Mass Torts:

The business of asbestos
(DBN Subscription Required)

______________

Banking:

UBS Wealth Inflows Slowed in Quarter Amid 'Reputational' Damage
(DBN Subscription Required)

US Mortgages Drive UBS Losses
(DBN Subscription Required)

UBS Top Employee Detained In U.S. Tax Probe
(NYT: separate free registration required)

Write-Down at Wachovia Nearly Doubles Its Loss
(NYT: separate free registration required)

Wachovia Executive to Leave
(WSJ: separate paid subscription required)

More Banks to Restrict Card, Student Loans
(DBN Subscription Required)

______________

Municipalities:

Vallejo, California City Officials Vote to File for Bankruptcy
(DBN Subscription Required)

Vallejo to become largest Calif. city to file for bankruptcy
(DBN Subscription Required)

Law firm that advised Jefferson County on swaps gets up to $600,000 to solve sewer debt crisis
(DBN Subscription Required)

UBS muni bond exit may spike public borrowing costs
(DBN Subscription Required)

Cash-Poor States Free Prisoners
(DBN Subscription Required)

______________

Food/Drink:

As food costs soar, restaurants swap ingredients to get by
(DBN Subscription Required)

______________

Corporate Reform:

Who's Seeking Merrill Auction-Rate Data?
(DBN Subscription Required)

Bush To Nominate Law Professor Troy Paredes To SEC
(DBN Subscription Required)

2nd Circuit Upholds Investment Adviser's Extended Sentence After Fraud Victims' Testimony
(DBN Subscription Required)

______________

Student Debt:

Investors stuck with 0% rates on college-loan bonds
(DBN Subscription Required)

Student-Loan Market: Another Bubble?
(WSJ: separate paid subscription required)

______________

Environmental:

What Happens When a Wetland Mitigation Bank Goes Bankrupt?
(DBN Subscription Required)

______________

Theme Parks:

No such thing as recession in Disneyland?
(DBN Subscription Required)

______________

Telecoms:

The umpire strikes back
(DBN Subscription Required)

______________

Music:

The IAJE's Collapse: What Happened?
(DBN Subscription Required)

______________

Insider Compensation:

Lazard Loses, But Wasserstein Wins
(DBN Subscription Required)

______________

Printing:

Quebecor Media profit climbs 42.7%
(DBN Subscription Required)

______________

Risk:

Credit crunch changes risk landscape
(DBN Subscription Required)

______________

Fraud:

Man sentenced to 14 years for $70 million investment scheme
(DBN Subscription Required)

Atlanta man stands trial for defrauding clients out of $150M
(DBN Subscription Required)

______________

 

New Bankruptcy Opinions
(1 new opinion 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)

____________

Economy:

Harvard's Feldstein Says U.S. Economy `Sliding' Into Recession
(DBN Subscription Required)

Paulson Sees Credit Crisis Waning
(WSJ: separate paid subscription required)

Corporate defaults on upswing as debt comes due
(DBN Subscription Required)

Fed auctions $75 billion to banks to ease credit stresses
(DBN Subscription Required)

Fed 'rogue operation' spurs further bailout calls
(DBN Subscription Required)

Oil nears $123 on $200 oil prediction, supply concerns
(DBN Subscription Required)

Fresh Surge in Oil Prices Seen
(WSJ: separate paid subscription required)

Government again raises estimates on oil, gas prices
(DBN Subscription Required)

Senators to White House: Set up task force to probe gas prices
(DBN Subscription Required)

______________

Bankruptcy Statistics:

US April Business Bankruptcy Filings Increase 49%
(DBN Subscription Required)

April Is Bankruptcy's Cruelest Month
(DBN Subscription Required)

______________

Wall Street:

Behind Bear Stearns' demise, a royal battle at the top
(DBN Subscription Required)

Legg Mason Posts Loss on Costs to Protect Money Funds
(DBN Subscription Required)

The real reason JP Morgan Chase bought Bear Stearns?
(DBN Subscription Required)

It's all in the bonus
(DBN Subscription Required)

______________

Jewelry:

Fred Leighton says Merrill holds rare jewels 'hostage'
(DBN Subscription Required)

______________

Accounting:

How Far Can Fair Value Go?
(DBN Subscription Required)

______________

Layoffs:

Medtronic to Cut 1100 Positions
(DBN Subscription Required)

RF Micro Device to lay off employees
(DBN Subscription Required)

Several firms inform regulators of layoffs for Texas
(DBN Subscription Required)

______________

Photography:

Art Leather wins extension
(DBN Subscription Required)

______________

Retailing:

Linens Closures Won't Hurt REITs
(DBN Subscription Required)

Paper Profits and Linens Losses
(NYT: separate free registration required)

Sunrise Mall off the auction block
(DBN Subscription Required)

Sunrise Mall Files for Bankruptcy
(DBN Subscription Required)

Discounts May Hurt Retail Earnings
(WSJ: separate paid subscription required)

Lampert, Ackman Face Off Over Sears
(DBN Subscription Required)

______________

Newspapers:

Star Tribune's owner forced to write off much of its investment
(DBN Subscription Required)

Is the Star Tribune censoring criticism on its website?
(DBN Subscription Required)

______________

Furniture:

Home Interior cleared to use cash
(DBN Subscription Required)

______________

M&A:

The Credit Crunch Hits Lazard, Hard
(DBN Subscription Required)

Lazard's Losses Pile Up
(DBN Subscription Required)

Lazard Profit Falls 71% on Write-Downs
(DBN Subscription Required)

Following the Era of Large Buyouts, Private Equity Funds Find New Ways to Compete
(DBN Subscription Required)

PE-backed bankruptcies
(DBN Subscription Required)

______________

Celebs:

Creditors, debtor spar over 'Eleanor'
(DBN Subscription Required)

______________

Finance:

Using MACs to Allocate Risk in a Credit Crunch
(DBN Subscription Required)

______________

UK:

Credit crunch helps feed first increase in personal insolvencies
(DBN Subscription Required)

Insolvency Service Q1 figures 'hide true extent of UK's debt problems'
(DBN Subscription Required)

Company Administrations Rocket
(DBN Subscription Required)

Millions rely on credit cards
(DBN Subscription Required)

Investors cry shame on dairy founder at bankruptcy trial
(DBN Subscription Required)

Regulatory backlash from credit crunch falls short
(DBN Subscription Required)

______________

Canada:

No offers made to buy Madill
(DBN Subscription Required)

Personal Liability Of Directors With Respect To Salaries
(DBN Subscription Required)

CIPF, IPC aim to protect clients from dealer bankruptcies
(DBN Subscription Required)

MEC stumbles to a new loss
(DBN Subscription Required)

Hope fades for mill workers
(DBN Subscription Required)

______________

Cayman Islands:

Cayman Islands: Asset Protection Trusts
(DBN Subscription Required)

Role Of The Trust Protector
(DBN Subscription Required)

______________

Germany:

Commerzbank says damage from crisis worsening
(DBN Subscription Required)

______________

Australia:

Centro Properties Halts Shares as Debt Deadline Looms
(DBN Subscription Required)

Centro See-Saw
(WSJ: separate paid subscription required)

Turnaround specialists gear up
(DBN Subscription Required)

______________

Italy:

Judge keeps Parmalat trials mostly separate
(DBN Subscription Required)

______________

Russia:

Russian Wealth Fund Rattles West
(WSJ: separate paid subscription required)

Securitization in Russia
(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).