September 11, 2008

The Daily Bankruptcy News

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Operations of The Daily Bankruptcy News (based in Sugar Land, Texas) may be affected on Friday by Hurricane Ike

Law:

Cadwalader Further Strengthens Financial Restructuring Practice With Two New Special Counsel
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Enron Fee Fight? Not Necessarily
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The Incredible Shrinking Thelen
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Most Big Calif. Firms Pay Associates $160K to $265K in Lockstep
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No Offer Watch: Edwards Angell Doesn't Hide the Ball
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Wachtell Drafted Key Components of Fannie/Freddie Rescue
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Subprime crisis spurs private lawsuits
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New Details on Fannie, Freddie Rescue and Post-Bailout Legal Maneuvers
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Judge Cuts Abramoff's Sentence
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Being a Lawyer and Male Makes You a Top Earner, Census Report Shows
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Foley & Lardner: Where the Wild Things Are
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Malpractice Suit Proceeds Against Mintz Levin N.Y. Managing Partner
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Coming Soon: Boston's 'Beautiful Lawyers'
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I write to express my view that the Fourth Amendment forbids an officer from discharging repeated bursts of electricity into an already handcuffed misdemeanant--who is sitting still beside a rural road and unwilling to move--simply to goad him into standing
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Lawyer of the Day: Peter Fitzpatrick
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Lawyer Is Arrested for Scheme to `Neutralize' Witnesses
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Judges:

5th Circuit Gives Prosecution of Texas Federal Judge to Fla. Judge
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9th Circuit Rejects 'Cowering Attorneys' Claim as Reason to Boot Judge from Case
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Wall Street:

US stock futures point to sharply lower start
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Stock Futures Track Global Declines
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Pressure Builds as Lehman Faces Mounting Losses
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Lehman still exposed to real estate, leveraged loans
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Execs, directors at Lehman have big stake in turnaround plan
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Default swaps on Lehman now pricier than Bear Stearns' prior to its collapse
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Authorities hope for private solution
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Why Lehman Brothers Doesn't Matter Anymore
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Lehman's Under-Fire Sale
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Fed Loans May Give Lehman Breathing Room Bear Lacked
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Soros Loses at Least $110 Million After Lehman Stock Purchase
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Why is Lehman still paying a dividend?
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Lehman Brothers' Feeble Hail Mary Pass
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Poor Little Lehman
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Firm mulling 'all strategic alternatives'
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Layoffs:

Synovus cuts 650 jobs
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Aviation:

United 'bankruptcy' points to new stock scam techniques
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What happens when someone inaccurately says you've gone bankrupt.
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Bankrupt ATA Ends 309 Jobs in Chicago
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Widower Says Airline Lost Wife's Body
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Alitalia sends unions stark warning
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Staff layoffs at Alitalia imminent
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Horse Racing:

New York Racing Asks Judge to Implement Exit Plan
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Tax:

Senate report says dividend taxes being dodged
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Real Estate:

Let Fannie and Freddie Fail?
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E*Trade lost $150 million on Fannie, Freddie
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Restructuring Firm Sees More Pain For Home Builders
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Fraud alleged in downfall of MILA Inc.
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Fannie Lawyers Move to Stay Litigation Proceedings
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Foreign Buyers Flee Fannie Bill Sale
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Coughlin Stoia Files Suit on Behalf of Fannie Mae Investors
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Insurance:

Conseco rebuffed in insurance challenge
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UK High Court Issues Restraining Order on Lloyd's Former 'Names'
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Banking:

Wells Fargo Tightens Lending, Supports Fannie Seizure
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More 'Chaos' Ahead for US Banks
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Lehman, WaMu Lead Increase in Bank Bond Risk to Six-Month High
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WaMu Tumbles 30%
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WaMu Falls on Concern Accounting Will Deter Suitors
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Some Banks Are Accused of Aiding a Tax Dodge
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Politics:

McCain says Fannie, Freddie CEOs 'deserve nothing'
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Senator Worries About Long Term Effect of Bailout
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Finance:

Credit Lines in Jeopardy
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ARS:

BofA to buy back $4.8B in auction-rate securities
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Oil/Gas:

SemGroup unit gets only temporary relief
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Bankruptcy judge approves SemGroup investigator
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Bankruptcy judge OKs 120-day probe for SemGroup examiner
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Oil Investors Pulled $39 Billion in Futures Contracts
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Municipalities:

No deal in Jefferson County debt crisis
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The judge has ruled; it's time to get to work
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In Search Of Sewer Solutions
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WV Concerned About Transportation Bond Debts
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US Senate Approves $8 Billion Highway Fund Bailout
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Economy:

The Economy: Best and Worst Scenarios
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Is the Fannie/Freddie Bailout "Socialism"?
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Customers taking a lot longer to pay, squeezing corporate cash flow
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Reining In the Oil Speculators
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Bankruptcy Litigation:

Creditor Sues Levine for Allegedly Delaying Diamond's Chapter 11 Filing
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Mass Torts:

US Fights Pfizer Unit's Bankruptcy Plan
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Bankruptcy Sales:

Justice probes botched auction
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Bankruptcy Reform:

Ten Things I'd Change About BAPCPA
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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)
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Autos:

Exec: Fed loans would speed development of electric cars
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Groups back auto industry loans
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Ford: Trim 4,200 more workers
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Chrysler says parties interested in buying Viper
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GM pressed by US to take $1.5 bln Delphi pensions
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Pension Agency Presses Delphi, GM
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Corporate Reform:

Former UnitedHealth CEO William McGuire to pay $30 million
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Indictments issued in Gitto/Global case
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SEC Attorney Schonfeld to Leave
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Financial Privacy:

Identity-Theft Victims Owed Duty of Care in Bank Fraud Investigations, N.J. Court Says
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Credit Cards:

As Credit Lines Fade, Credit Cards Step In
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Corporate Governance:

Chancery Court Dismisses Case Due to Misrepresentations to Court; Finds Unqualified Derivative Plaintiff, and Awards Fees
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Resorts:

B of A threatened to pull lifts from Idaho resort
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Health Care:

Sequoia sale complicated by repayment
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Credit Counseling:

FTC Obtains Court Order Against Husband-Wife Credit Repair Team
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UK:

UK Stocks Decline
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British retailers feel the pinch
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UK's Home Retail to write down Homebase value
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New backstop to save NHS hospitals from bankruptcy
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Insolvency figures fell for second quarter
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UK corp tax stays high against rest of world
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New Zealand:

Bollard Cuts NZ's Key Rate to 7.5% Amid Recession
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Norway:

Son's alleged fraud bankrupts bishop
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Spain:

Spanish prime minister Jose Luis Rodriguez Zapatero warns of 'hard times'
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Spain launches €3bn housing rescue
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Australia:

One.Tel is still a lawyers' party
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Russia:

Liquidity crunch hits Russian tycoons
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Russia slammed for targeting tax fraud lawyers
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