September 12, 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:

McDermott Will Adds Bankruptcy Partner
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BigLaw Hooks Up With SmallLaw
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Firm cancels Christmas
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DLA Piper: Summer Program to Run 10 Weeks Long For All Offices
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Mayer Brown associate sends cringing farewell email
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Wachtell Worked on Bailout Pro Bono
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Firm Sues Ex-Counsel for Fraud
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IQ Is A Commodity: Now What?
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Former Partner Pleads Guilty to Tax Shelter Fraud
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Law Firm's Answer to $80 Million Legal Malpractice Suit Focuses on Trustee Plaintiff's Role
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Housing Slump Makes Real Estate A Lawyer's New Home Court
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Freshfields is the best dressed law firm
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Justice: Prosecutors can't ask firms to waive legal privileges
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Trial Lawyers Say Discovery System 'Broken'
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OK, Discovery's a Problem, But What Can Be Done About It?
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More Fed'l Judges Seek Law Clerks With Practice Experience
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Judges:

Loan Forgiveness for Judges: What Would It Do to Daytime TV?
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Court slams Porteous as impeachment move stalls
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Panel lays out case against judge; Pace of proceedings in U.S. House lags
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Undies are out of order in his court
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Judge Dennis Montali Takes Over as Chief Judge of the 9th Circuit BAP
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Wall Street:

Stocks poised for weak open
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Stocks Close Sharply Higher On Late Day Rally
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Global equity trading falls 37%
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Analysts hit Lehman when it's down
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Lehman shares slump another 44%
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NJ jumps ship as Lehman shares plunge
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Lehman survival questioned on scramble to sell assets
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Fed, Treasury Seek Resolution
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Lehman's Fuld Races to Sell Firm as Fed Balks at Deal
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Would the Fed Let Lehman Fail?
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Counting the Cash for Lehman's Chief
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Anatomy of a Crisis
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Bankers say Lehman approaching rivals for lifeline
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Fuld in Full
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Lehman Is No Bear Stearns, Credit Swaps Show
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Nervous Lehman employees looking elsewhere?
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Staff struggle to carry on as 'tsunami' builds
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Goldman may take $2 billion mark-to-market loss
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Banking crisis deepens
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Aviation:

SEC opens probe into UAL share price drop
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Who can United sue for that erroneous bankruptcy story?
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Tribune: Google warned over 'bot'
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British Airways May Eliminate Hundreds of Managers
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Alitalia union talks enter critical phase
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Alitalia thrown into chaos
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Alitalia Close to Collapse; Buyers Pull Out of Talks
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Italy minister downbeat on Alitalia's fate
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Pope prays for Alitalia as 3rd rescue bid falters
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Passengers Pulled Off Taxiing Plane When Airline Goes Bankrupt
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Food/Drink:

Twinkie maker asks for more time, money
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Defaults:

Junk Bond Distress Levels Surge, Signaling Defaults
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Real Estate:

Four Democratic Senators Call For Foreclosure Freeze From Fannie And Freddie
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Warren: Lose Your Home, Lose Your Vote
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Foreclosures hit high in August
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FBI probe of Financial Plus widens
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Chapter 472: New N.Y. Mortgage Foreclosure Legislation
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Economy:

Trade Deficit of $62.2 Billion Exceeds Forecast
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Treasurys rise as financial woes hit stocks
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Claims for jobless benefits fall less than expected
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The outlook is deteriorating even for the best-performing firms, let alone the troubled ones
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US Initial Jobless Claims Fall to 445000 Last Week
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The Birth of the Bailout Culture
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The Economy: Best- and Worst-Case Scenarios
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Capitalism and the credit crunch
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Why Treasury Shielded Frannie's Sub Debt
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Fed May Expand Funding in a `Mother of Year-Ends'
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Banking:

Wachovia shares falter as investors remain on edge
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WaMu's new CEO Alan Fishman gets $20 million pay package
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WaMu Sees $4.5 Billion Loan-Loss Provision in Quarter
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WaMu says capital is sufficient
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Is Washington Mutual About to Explode?
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Fitch Downgrades Washington Mutual to 'BBB-'; Outlook Negative
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Deutsche Bank's Risky Business
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Retailing:

Mattress Discounters files Chapter 11 again
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Consumers Union wants gift card protection
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Owner of ailing mall looking for buyer
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Finance:

Fed Says Commercial-Bank Loans Rise to Record $19.8 Billion
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Health Care:

Services at Former Victory Hospital Drastically Downsized
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Awards:

Barrett Daffin Frappier Turner & Engel Attorneys Named to Texas Super Lawyers List in Texas Monthly Magazine
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Derivatives:

Credit derivatives quite an event
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The adventure never ends in the derivatives Wonderland
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Auctions to settle credit derivatives to involve billions
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Derivatives and Bankruptcy: The Flawed Case for Special Treatment
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Financial Literacy:

FDIC chairwoman worries about financial literacy
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Mass Torts:

Plaintiffs Lawyer Files Constitutional Challenge to Law Restricting Silica Litigation
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Hedge Funds:

Hedge Fund Glory Days Fading Fast
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Municipalities:

Alabama debt session held but no deal reached
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Cease-Fire in Vallejo?
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Celebs:

All-White Jury to Decide O.J. Simpson Case
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Gambling:

PacificNet Settles Bondholder Dispute
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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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Bankruptcy Reform:

Tougher Bankruptcy Laws Bite the Lenders
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NACBA, and Durham NC Attorney Ed Boltz, Work To Change Bankruptcy Legislation
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Autos:

GM, Ford gain after analyst says bankruptcy worries to ease
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GM, Ford May Get Half of Government Loans This Year
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Auto loans could speed retooling
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Auto-part suppliers will push for loans
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GM, Ford shares jump on prospects of loans, oil
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GM, Delphi near pension deal
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Ailing Auto Industry Sends in Its Pitchman
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Putting the Brakes on the Automaker Bailout
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Major creditors say close North American Delphi now
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Diamond Auto Glass to cut more jobs
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Auto Suppliers' Profits May Drop as Europe Slows
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Insurance:

Insurance execs: We did a lousy job assessing our own subprime risks
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Buffett and Banks
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Former AIG Executives Settle Suit for $115 Million
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About the AIG Derivative Settlement
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Jewelry:

Fortunoff bankruptcy dismissed by court
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Oil/Gas:

Regulators: Tough to measure oil speculation
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Speculators in `dark markets' may have driven oil up
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SemGroup program draws scrutiny
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Litigation Support:

The Litigation Document Group declares bankruptcy
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Resorts:

Judge OKs auction date of resort near Rothbury
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Bank threatens to remove 2 ski lifts
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Tax:

U.S. Finds Rampant Errors by Commercial Tax Services
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Credit Cards:

Invasion of the Credit Cards
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UK:

UK jobs at risk in US bank crisis
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Britain's dangerous whiff of economic panic
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XL Leisure prepares to declare bankruptcy
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King warns over home loan support
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John Lewis profits fall sharply
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Dire trading figures add to high street gloom
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UK groups see credit drying up
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Flights grounded after holiday firm goes bust
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Jones Day, Freshfields in XL Leisure bankruptcy
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Germany:

Pfaff files for bankruptcy
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Germany Renationalizes Debt-Ridden Federal Printing Office
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EU:

EU alert on bank bailout costs
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