September 10, 2008

Daily Bankruptcy News

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Law:

Enron Lawyers Representing Investors Will Reap Record $688 Million in Fees!
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Big Apple Bankruptcy Boss Bounces to Brand New BigLaw Base
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The Reality of Associate Salaries
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Thelen Cancels 2009 Summer Associate Program
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Buchanan Tries to Regroup in Miami After Mass Exodus
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No Offer Watch: Rocky Balboa Division Blank Rome and Pepper Hamilton
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Foley & Lardner Sets the Record Straight. And They're Still Looking For 3Ls
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Litigation Too Costly, E-Discovery a "Morass," Trial Lawyers Say
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Merger Mania: The Fate of Tyler Cooper
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Prosecutors: Abramoff Cheated Greenberg Traurig Out of Fees
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Will General Counsels Change the Market? New GC Survey at Legal Onramp
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King & Spalding Goes on an 18-Month 'Expansion Spree'
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Meet Fannie Mae GC Beth Ann Wilkinson
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Federal Judges: Fla. High Court Got It Wrong in Historic Tobacco Case
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Why the Year End Collection Push is Not a Best Practice
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Justice Thomas Says Constitution Forbids Racial Preference
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Attorneys Told to End Courtroom Back-Pats
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Best lawyer bio. ever
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Former Paralegal Pleads Guilty to Conspiracy
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Prosecutor and Judge in Capital Case Admitted Affair, Lawyers Say
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Say What?!
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Judges:

Judge to Resign Next Month for TV Gig
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Husband was cleaning up blood, judge tells police
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Bankruptcy Reform:

Judge says part of bankruptcy law unconstitutional
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Al Franken Proposes Sweeping Changes to Bankruptcy and Credit Card Laws
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Insider Compensation:

Bonus outrage
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Obama objects to severance for ousted CEOs
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Incompetence and greed
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Politics:

Democrats question Fannie, Freddie CEO pay
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For '08 Rivals, a Skein of Ties to Loan Giants
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Obama slams deals for mortgage bosses
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Senator Bunning Says Paulson Acts Like Socialist, Should Resign
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Palin's take on legal reform unknown; Biden said to be too cozy with trial lawyers
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Rangel to File Amended Tax Returns
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Housing Looms Larger for '08 Candidates
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Enron:

Court Revives Suit Against Ken Lay Estate; Enron Lawyers Cash Out Big
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Enron settlement: $7.2 billion to shareholders, $688 million to lawyers
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Shareholders may see some money before the end of the year
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Enron's Debt Lives On
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Gambling:

Eldorado worried Aztar may not be sold
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Ex-owners want to regain control of Tropicana casino
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Tropicana Trying To Fool Commission and Regain Control of Casino
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Municipalities:

Alabama debt talks continue but promise no quick end
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Insurers helps make Jeffco bond payment
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Experts predict deal on Jefferson County debt
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Vallejo, unions may return soon to contract talks
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Hoboken Awaits Oversight Decision
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Celebs:

Trial Judge Warns Jurors Over OJ
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Actor Nicolas Cage Settles Tax Dispute for $666K
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Corporate Reform:

Apple to Settle Backdating Case for $14 Million
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Plaintiff Team: No Reason to Chase Wilson Sonsini
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SEC Takes Notice After Company Ignores Lawyers' Advice on Backdating
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KPMG Ruling Signals Time for Attitude Adjustment
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Bankruptcy Litigation:

LeNature's suit out for now
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Removing Cases To The Bankruptcy Court
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Religion:

Thou shalt not subprime
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Publishing:

Playmore looks to craft sale
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Real Estate:

Pending Home Resales Decline More Than Forecast
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Fannie and Freddie's New Derivatives Cliffhanger
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Fannie Mae's Demise Rooted in the Swinging '60s
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Private? Public? Fannie, Freddie in 'no man's land,' claims IMF big
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You Can't Handle the Fannie/Freddie Truth
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Fannie, Freddie Employees Suffer Losses As Stocks Plummet
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S&P 500 Drops Fannie, Freddie
(WSJ: separate paid subscription required)

Future of Fannie and Freddie In-House Lobbyists Unclear
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Is Bailout Just Treating Symptom?
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Fannie and Freddie: Gauging the Fallout
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Suing Uncle Sam After Fannie and Freddie? Probably Not
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Class Action Filed Against Fannie Mae
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Not all mortgage execs laud takeover
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What Happens To Home Warranties?
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FTC fines Bear Stearns for mortgage violations
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Condo-Minimum
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South Florida Developers Winning Cases Brought by Unhappy Condo Buyers
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Homeowners with good credit get hit by downturn
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Borrowers Increasingly Unsatisfied with Mortgage Servicers
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Economy:

If Fannie And Freddie Had Failed
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The Bailout, Free Markets and History
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Global Capital Asset Death Spiral
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Time to buckle down for the long recession haul
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CFOs shift their expectations for a recovery to a later date as more companies report feeling the pinch of the credit crisis
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Consumer Credit Outstanding Hits $2.59 Trillion in July
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Consumer Spending in US to Stall, Hurting Growth
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Credit crunch mostly bypassing smaller businesses
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U.S. budget deficit to exceed $400 billion thru 2010
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Don't Like Bailouts? Consider the Alternatives
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Oil drops to near $100; OPEC Won't Reduce Output
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OPEC decides to curb overall output; prices rise
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OPEC Can't Halt Oil's Fall
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Wall Street:

US stocks point higher after sell - off
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Korea Development Bank Ends Talks For Stake in Lehman
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Lehman Sees $3.9 Billion Loss and Plans to Shed Assets
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Lehman Leads the Markets on a 280-Point Fall
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Rabble Babble: Lehman = Titanic?
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Lehman Tumbles On Fears About Raising Capital, Shedding Assets
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Lehman Shares Fall After Talks With Korean Bank End
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Lehman's Share Slide May Force Fuld's Hand
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Lehman Put on Watch for Possible Downgrade by S&P
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Playing Both Sides Of Lehman
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Cable:

Adelphia to pay creditors cash, stock
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Food/Drink:

Mrs. Fields Gets Go-Ahead in Bankruptcy Proceedings
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Retailing:

Judge alters Boscov's bonus plan
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A Squeeze on Retailers Leaves Holes at Malls
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Inventories Grow Faster as Sales Fall
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Retailers Reprogram Workers
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Feldman's Flop
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Barbeques Galore files sale docs
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Environmental:

Save Our Springs gets reprieve in court
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Bankruptcy Statistics:

August bankruptcy filings in AZ Valley a monthly high
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Mass Torts:

Little relief in Canadian asbestos settlement - "absurd and disturbing"
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Personal Finance:

The upside of a down economy
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Newspapers:

McClatchy offers buyouts
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Gannett eliminates 100 management jobs at papers
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Asset Protection:

Asset Protection Against IRS Leads to Indictment of Planner and Clients
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Credit Cards:

Maloney "Hopes" To Bring Cardholder Bill To House Vote
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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)
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Banking:

Small banks hurt by Fannie, Freddie may get help
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Wachovia CFO gets $4M bonus
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Bankers Stare into the Abyss
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WaMu on the Brink
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Wachovia lands new CFO, but could be on the hook for $22 million in comp
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Wachovia Cut to Underperform by Merrill
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Wells Fargo beats Citi as 3rd most valuable bank
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Banks Slammed By Treasury's Bailout
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Berkshire Reins In Deposit Insurer
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Credit Agricole announces 500 job cuts
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Autos:

Automaker Loans May Be in Stimulus, Energy Plans, Democrats Say
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Big Three pare back fed loan request
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BHM, Bankrupt Parts Maker, Seeks to End Toyota Supply Contract
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Union Plans to Protest Job Cuts at Renault
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Ford sheds more jobs as sales slump
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Plastech's plan called weak
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Aviation:

Google Explains United Airlines Debacle
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Company That Picked Up United Report Wants Investigation
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Internet-Driven Stock Panic is a "Big Warning Call," Says Prof
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Will Misdated Report About United Airlines Bring Legal Consequences?
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Midwest cuts 270 jobs
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Continental Airlines loses 363 pilots
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Union backs Alitalia plan, but deadlock looms
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Alitalia pilots reject rescue plans
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Zoom calls in PKF as administrators
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Insurance:

AIG shares fall on fresh mortgage market concerns
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What to Watch Now in the World of D&O
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Conditions perfect, cash plentiful, but reinsurers shun takeovers
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Student Debt:

Lenders agree to new student loan conduct
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Did Congress Tame the 'Wild West'?
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Private lenders prey on uninformed students
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Student Class Action Targets Citibank
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Health Care:

Two-Thirds of Healthcare Bad Debt Caused by Insured Patients
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Weight loss company's bankruptcy takes a load of customers' cash
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Fraud:

Judge refuses to dismiss Sterling fraud case
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Accounting:

Third Circuit affirms $182.9 million judgment against Coopers & Lybrand
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Tax:

Thor Hammers Home Tax Lessons for a Recession
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Oil/Gas:

Judge signs off on SemGroup-SGLP Deal
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Oil drilling company files for bankruptcy
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Derivatives:

Fannie and Freddie Default Exposes Transparency Issues in CDS Marketplace
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UK:

Britain 'to fall into recession'
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House price falls accelerating
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Equitable Life Policyholder Group Says U.K. Regulator Betrayed Pensioners
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It sticks when you go bust
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UK auction prices slump 23%
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EU:

EU Cuts 2008 European Growth Outlook, Sees Economy Staying Weak
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Norway:

Norway towns say won't pay 'illegal' DnB NOR loans
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Germany:

German Stocks Decline for Second Day
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Canada:

La Cache files for protection
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Canadian Productivity Declines for Longest Stretch Since 1990
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Russia:

How the KGB (and friends) took over Russia's economy
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