September 17, 2008

The Daily Bankruptcy News

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Law:

When Wall Street Goes, Where Goes the Legal Work?
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Sidley to Associates: Be Cool Boy
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If WaMu Falls Next, Which Firms Lose?
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Who Handles an AIG Bankruptcy Filing?
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AIG Hires Law Firm to Draw Up Bankruptcy Papers
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AIG's $1 Trillion Bankruptcy Would Be World's Largest Ever
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Harvey Miller Moves, and a Law Firm Benefits
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What Are the Prospects for Lehman's London Lawyers?
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Conflict Checks Soar as Worried Clients Call Counsel About Wall Street Woes
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Houston Bankruptcy Court Issues Hurricane Order
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Ike Destroys at Least Half of Locke Lord's Offices in Houston Tower
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After Ike, Houston Lawyer Works Out of his Luxury Car
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Judge: Nixon Peabody Didn't 'Steal' Taylor Wessing Partners
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A Kinder, Gentler Ropes & Gray
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Bankruptcy/Restructuring Attorney Shelly A. DeRousse Joins Stahl Cowen
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Lawyers are signing up in record numbers for continuing legal education classes in bankruptcy
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Heller Suffers Another Blow with Reported Loss of up to 40 IP Lawyers
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The Meltdown Awards: Law Firm Winners and Losers
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Akin Gump Names New York Litigator as New Managing Partner
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Why Do Mergers Die? It's Like Dating
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Heller Highwater
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Judge says 'saggy pants' law is unconstitutional
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25-Lawyer Defection Launches New Satellite
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Unlicensed 'Lawyer' Allegedly Practiced for a Decade in 10 States
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Lawyer Fined $500 for Filing Suit in Spat Over Damaged Designer Umbrella
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Lawyer of the Day: Gabriel Schwartz
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Law Students: Don't Do This
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Judges:

Federal Judges May Start Sharing Courtrooms
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Bar Seeks Suspension for 'Obstreperous' Would-Be Judge
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Wall Street:

Futures Can't Shake Bank Gloom
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With Wall Street crisis, now it's official: The sky is falling in
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Poof! There go Americans' dreams
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Goldman Sachs posts 70 percent slide in third-quarter earnings
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The Last Two Investment Banks Fight for Position
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A Vicious Scything
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Money Market Fund Says Customers Could Lose Money
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All Roads Lead to Bear?
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AIG, Lehman Collapses May Spur Financial Fire Sales
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Wall Street's troubles trickle down
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Saudi Billionaire Won't Ride to the Rescue
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Wall Street's Bomb: What's the Fallout for You?
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Merrill's Thain, Aides May Get $200 Million for Year
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Bank of America, are you aware of this?
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Goldman Posts Profit, and Morgan Follows Suit
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New Jersey's 'Wall Street West' Quakes Amid Namesake's Turmoil
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Derivatives:

Derivatives And Dangerous Times
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CDS update: Counterparty risk goes critical
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Politics:

Dow Crashes: McCain Says Economy Is "Strong"
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McCain on US economy: From 'strong' to 'total crisis' in 36 hours
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McCain and Obama look for Wall Street answers
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Politicians discuss a 'super trustee' to resolve crisis
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Obama Says Investors Can't Expect Bailouts
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Obama says McCain is 'passing the buck' on economy
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Obama Calls for Scrutiny of Credit-Rating Companies
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McCain: Feds must better coordinate financial rules
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McCain Laboring to Hit Right Note on the Economy
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House Leaders Cool to Any Quick Action on Financial Markets
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Frank Says US May Consider Agency to Buy Bad Debt
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Congress Pushes For Bigger Role in Resolving Financial Crisis
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House Committee To Examine Lehman Failure
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Dodd Says Senate Banking Committee To Stay On Sidelines For Now
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Pelosi: Dems bear no responsibility for economic crisis
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Pelosi orders wide Wall Street probe
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Computers:

Dell Drops to Lowest Level in 7 Years After Predicting Slowdown
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Banking:

Bank of America seen as big winner from nation's credit crisis
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'Bank of America is taking over the world'
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Wells Fargo write-down tied to Lehman holdings
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Is Washington Mutual Next?
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Government lining up possible buyers for WaMu
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UBS could lose up to $300 million from Lehman fall
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McCain's Son Resigned from Seized Silver State Ban
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Banks make their own liquidity a priority
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Radio:

Is Sirius Going to Zero?
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Corporate Reform:

Ex-CEO Reyes Sues Brocade Over Unpaid Legal Fees in Backdating Mess
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'Kobi' Alexander's Extradition Hearing Postponed, Namibian Magistrate Says
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Cox's role raises questions
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Real Estate:

Sept home builder sentiment up, 1st time in 7 mos
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US Mortgage Rates May Wreak Havoc After Libor Gain
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Home Prices to Remain Under Pressure: Report
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Fannie, Freddie CEOs Still Get 401(k)s
(WSJ: separate paid subscription required)

Suits Announced Against Fannie Mae and Merrill Lynch
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Mortgage Seekers Find Rates Are Down, Credit Tighter
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Thornburg Mortgage Back on the Ropes
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Daytona developer with $400M in secured debt files for Ch. 11
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NovaStar Financial to fight bankruptcy
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Luminent Mortgage loan OK'd
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Insurance:

Fed to give AIG $85 billion loan and take 80% stake...
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US Government Debt Risk Jumps to Record After AIG Bailout
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U.S. to Get Control of the Troubled Giant A.I.G.
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Former Allstate chief Edward Liddy likely to take helm at AIG
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Why the government is helping AIG
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While Washington slept
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A Closer Look at the Fed's $85 Billion AIG Bailout
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Did We Say No More Bailouts?
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We Bought Ourselves an Insurance Company
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Was AIG an emergency?
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AIG Fights For Survival
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Swiss Insurers Say AIG, Lehman Exposure Exceeds $500 Million
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AIG's Collapse Would Have Impact Around the Globe
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AIG Is 'Ubiquitous,' May Shake World Markets If It Collapses
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AIG has 'a day' to stay afloat
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Greenberg, His Firms Lost $2.4 Billion in Days as AIG Collapsed
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Hank Greenberg is Angry, and the AIG Rescue is Looking Strange
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Fed Said to Reverse Stance, Consider AIG Loan Package
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AIG Conservatorship Said to Be Option
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As AIG Dangles, Fed Stays Its Course
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Greenberg-Led AIG Investors Consider Taking Control
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Key US senator opposes federal help for AIG
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Munich Re says interested in parts of AIG
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AIG falls 42% in cash scramble
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AIG Collapse, Feared by Wall Street, Would Be Felt Worldwide
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Credit Suisse sees higher chance of AIG bankruptcy
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AIG's CDS surge to 52 pct upfront from 33 pct
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AIG on the Brink
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It is in America's interest to save AIG
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AIG: Worse than Lehman
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Bond Risk at Record on AIG's $441 Billion Counterparty Concern
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AIG: The company at the heart of the world's financial system
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Rivals circling AIG
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Insurer stocks keep sliding after Fed announcement
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Oil/Gas:

Oil in steepest two-day slide since 2004
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Photography:

Leica faces mounting losses and sinking sales
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Retailing:

Retailers face worst holiday in years
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Linens 'n Things Said to Face Liquidation Threat
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Jacket retailer PreVu goes down
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Trustees:

House hearing on trustee compensation
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Aviation:

Lower oil helps US airlines ride out credit crisis
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Alitalia unions cancel meeting on rescue plan
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Alitalia begins strike and cancels flights
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Bankrupt Alitalia cancels 40 flights
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Bonds:

Bonds waver after 10-yr yield hit 5-year low
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Accounting:

Bad Economy is Good for CPAs, More Seek Advice
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Utilities:

Constellation Energy extends drop on debt fears
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Food/Drink:

Teamsters Fully Support Steps to Save Interstate Bakeries
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Art:

How the credit crunch will bite next
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Student Debt:

Dispute Clouds Student Loans
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Hedge Funds:

Hedge Funds Fell for Third Month in August
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Bankruptcy Reform:

Senate Judiciary markup
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Senate Judiciary Reports National Guard Relief Bankruptcy Bill
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Credit Cards:

Delinquency Rate Down, Credit Card Debt Up, TransUnion Says
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Corporate Governance:

The 100 Most Influential People in Corporate Governance
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Accounting:

FASB Pushes Ahead With 'Securitization Killer'
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New Bankruptcy Opinions
(1 new opinion 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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Mass Torts:

Judge postpones Quiqley decision
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Lehman:

Lehman ends the search for this era's signature bankruptcy
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Lehman Bankruptcy Update
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JPMorgan Gave Lehman $138 Billion After Bankruptcy
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Central bank provided $87 billion to backstop Lehman transactions
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I-bank spurned bid that would have saved firm, says Korea's KDB
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Lehman Creditors to Form Official Committee
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Lehman will spark litigation boom
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Lehman's UK Landlord Says AIG Insures Rent Payments
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Free Fall: Lehman Enters Chapter 11
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Lehman Lets Some Creditors Take Key Assets First
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Barclays May Buy More of Lehman After $1.75 Billion Purchase
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Lehman bankrupt, but misery only beginning
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As Lehman Teetered, Some Took Precautions
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Americans Rattled by Lehman, Unsure It Affects Them
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Here's Why Dick Fuld Isn't Saying He's Sorry
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Immediate Impact Of Lehman's Chapter 11 Filing On European Banks Outlined in S&P Report
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Pranksters get it on as Lehman goes under
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Angry staff auction memorabilia on eBay
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Lehman Lawyers Look for Work
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Lehman staff start to apply for new jobs in Gulf
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Lehman Brothers sets hearing to approve asset sale
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UK bank makes bid for Lehman assets
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Will Creditors Look to Lehman's Bonuses?
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Confusion over Lehman's M&A deals
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Lehman exit drops heap of trouble on credit market
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Lehman cancels planned auction of $852 mln loans
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Lehman.com - still open for business?
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Lehman On The Other Side Of Its Distressed Fund
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At Lehman, 25,000 Worry About Future
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Lehman Meltdown Could Cost States
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Rival banks set to pounce on Lehman clients
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AM Best Downgrades Ratings of Lehman Re Limited
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How Lehman's Last-Minute Korean Rescue Fell Apart
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Brothers' Keepers
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Germany seeks explanation of KfW Lehman transfer
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Autos:

Auto Executives Lobby for Federal Loans
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Big Three lobby for $25B loan
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Finance:

Credit Markets Seize Up as Libor Rate Doubles on AIG, Lehman
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Economy:

Fed Recreates the 1970s; Wait, It's the 1930s
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After AIG rescue, Fed may find more at its door
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Overnight Interest Rate Doubles as Banks Hoard Cash on Failure Speculation
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Fed Leaves Key Lending Rate Unchanged; Stocks Drop
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Tireless Advisers Backed Paulson
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IMF: More financial institutions may collapse within the next months
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Bernanke Bets on Targeted Loans Over Rate Cut to Aid Wall St.
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Global Confidence Falls as Lehman, AIG Roil Financial Markets
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Students in finance fear for jobs, future
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Consumer prices ease on cheaper energy
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Resorts:

Diablo Grande wins settlement OK
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Double JJ preps for auction
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UK:

HBOS of UK Extends Decline on Liquidity Concern
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Britain's HBOS Could Be Next
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Biggest leap in unemployment since 1992
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First insolvency and rescue awards shortlist announced
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Begbies gets £13m stock market boost
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Canada:

Lehman Brothers-Style Collapse Highly Unlikely for Canadian Banks
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India:

Rupee sees biggest fall in a decade
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France:

Natixis shares lead French financials' tumble
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Philippines:

Philippine govt, banks take a hit from Lehman collapse
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Romania:

Bankruptcy at Lehman Brothers triggers crash of Romanian stocks
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Russia:

Russia halts trading after 17% drop
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Russian Markets Halted as Emergency Funding Fails to Halt Rout
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Japan:

Japan's Banks, Insurers Have $2.3 Billion at Risk From Lehman's Bankruptcy
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Ireland:

Bank of Ireland Says Profit Will Decline as Loan Losses Mount
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