September 5, 2008

Daily Bankruptcy News

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Law:

Associates Gone Wild! On Web Sites, Firms Lift Veil on Young Lawyers
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Oracle's Ellison Withheld E-Mails in Suit, Judge Says
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No Offer Watch: Buchanan Ingersoll
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Litigation River Overflows Its Banks
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What's Next for Wolf Block After Second Failed Merger Attempt?
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Culvahouse Emerges From O'Melveny Fray
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Outsourcing Junior-Level Legal Work
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Calculate Your Obama Tax Cut!
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With its pure-play strategy in tatters, Cadwalader struggles to reinvent itself
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Cadwalader Associates Discuss Firm Life
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Is it acceptable to refuse work due to personal moral principles?
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Recording billables memorializes greatness, delayed gratification is great training and 'business casual' is for wimps
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Attorney-Client Privilege Becomes Key Issue in Suit Against Law Firm
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Defectors Wrangle With Old Firm Over Back Pay, Share of Property
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Summer associates in joy-riding shame
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A Weil Associate Gets Ready for a Real War
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Detroit mayor pleads guilty in sex scandal, quits
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Abramoff Sentenced To 4 Years In Prison
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Court Orders New Hearing Over 'Shady' Issue
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Summer Wives (Part 2 of 2)
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Firm in rodent infestation horror
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Producing Spreadsheets in Discovery
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Say What?!
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Judges:

Suspended By Bar, Judge Will Stay on Bench
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Fla. judge to hear Kent case
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Wall Street:

US Stock-Index Futures Decline
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Dow Industrials Fall 340 Points Thurs.
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Stocks' Brutal Thursday
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Asia, Europe markets sink after Wall Street plunge
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Stocks Plummet After Retail, Unemployment Data
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US Stocks Slump, Posting Longest Losing Streak Since January
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Investors Have Reason to Worry About '09 Earnings
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Lehman weighs real estate spinoff
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KDB's CEO: a leopard on the hunt for Lehman
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Lehman: good bank/bad bank ahead?
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Bear Failure Could've Brought Down Lehman, Merrill
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Merrill Discussed Selling Loans for $200 Million
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Autos:

Vehicle prices falling at rapid pace
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Investments Are Faltering in Chrysler and GMAC
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Chrysler to Cancel Nitro or Liberty by End of 2012
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After pulling exit financing, hedge funds go after Delphi for $82M fee
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Mining:

Setting the record straight on Asarco decision
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Judge: Grupo Mexico defrauded creditors
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Grupo Mexico says it will owe little to Tucson-based Asarco
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Aviation:

Short Flight For Business Jet Sales?
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Midwest may dodge Chapter 11 filing
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American Airlines issues layoff notices
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Why Republic Airways is backing troubled carriers
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3250 layoffs in Alitalia plan
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Investors axe cargo, maintenance from Alitalia deal
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Alitalia eyes foreign partner for Nov relaunch
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Russian state-run air firm to merge with cash-stuck AiRUnion
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Bankruptcy Litigation:

Post-Confirmation Litigation - Be Careful To Describe Your Litigation Or It Will Be Lost
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Boca investment firm sued by Mervyn's
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Resorts:

Mich. resort halts daily operations ahead of sale
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Retailing:

Boscov's receives OK for bankruptcy financing
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Mervyn's Sues Its Ex-Owners Over Fraudulent Transfer of Stores
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Bonus Plan at Boscov's Draws Fire
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Barbeques Galore Plans Sept. 10 Auction
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As Consumers Focus on Basics, a Sluggish August for Most Retailers
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Gift-Card Holders of the World, Unite!
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The Squishy Results At Sears Holdings
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Wal-Mart acting on shifts in consumer spending
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ARS:

Bank of America Ready to Settle Auction-Rates Probe
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Real Estate:

As Low-Profile Loans Fail, Bigger Fish May Follow
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Toll Brothers "scared" about NYC condo market
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Subprime Securities Lawsuit Dismissal Denied
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Fannie Mae Investor Sues Citigroup, Merrill Over Drop in Preferred Stock
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Pimco's Gross lobbies for bigger housing bailout
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National City offers cash to cut equity lines
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Top 10 Riskiest Areas for Mortgage Loans
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Proposed Fannie-Freddie Merger Gets Thumbs Down
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30-year mortgages dip slightly to 6.35 percent
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As Losses Continue, Builders Blame Foreclosures
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Countrywide proposes new Pa. lending settlement
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Home Builders Face More Pain
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Stoney Glen to liquidate
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Bankruptcy protection kept for developer of Meadowlands tract
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Debtor Friendly Legislation and Unintended Consequences
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The Credit Squeeze Hits Global Properties
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Koger Files Notice of Insanity Defense
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The Global Office-Space Bust
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Lawyer Pleads Guilty in $35 Million Foreclosure Fraud Scheme
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Foreclosed Home Now Bobcat Den
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Economy:

Fed's Yellen Sees 'Substantial' Risks to US Growth
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Can't totally rule out a rate cut
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Fed officials differ on inflation outlook
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Global Wealth May Decline 10% This Year
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Crude futures at five-month low
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U.S. service sector grows more than anticipated
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Tale Of Two Economies
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Municipalities:

US municipal swaps seen outlasting Jeff County, JPMorgan
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JPMorgan Slinks Away From Swaps
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Wall St. weighs Alabama debt offer
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After years of double-digit rate increases, a sewer system bailout plan that limits annual hikes to 2.85 percent is a bargain for customers
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Alabama Sues Banks In $3.2 Billion Bond Fiasco
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Insurance:

AIG may park risky assets in new company
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Defaults:

Ominous trend: Corporate loan defaults
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Corporate Reform:

Ex-Refco chief reports to serve prison term
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Whistleblowers Are Left Dangling
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Federal bribery investigation goes beyond single case in Nigeria
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A Con Game In Pinstripes
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Fraternities:

Double Secret Probation: Chapter 11
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Distressed Investing:

Ross Says He May Invest in Refiners as Oil Declines
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Magazines:

Financial losses continue for magazine distributor
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Student Debt:

New York Plans to Sue Student Loan Company
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Student loans dry up for some
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Hedge Funds:

Taking Shears to the Hedges
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Atticus Denies Liquidation Rumors
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Computers:

Dell Plans to Sell Its Computer Factories Worldwide
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Predatory Lending:

Lender's predatory practices trap borrowers, lawsuit says
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Bankruptcy Statistics:

South Florida bankruptcies up from a year ago
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Utilities:

U.S. Energy plans rights offering
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Debt Collection:

Zombie debt and the California statute of limitations
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Debt Collector's Unlawful Message on Answering Machine May Give Rise to Stay or Discharge Violation Action
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Fraud:

N.Y. Lawyer Accused of $5M Fraud Via Ponzi Scheme, Other Scams
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Wextrust Is A $225 Million Ponzi Scheme Led By A Felon, The SEC Says
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Interstate Bakeries Lied To Sell $100 Million In Bonds, Investor Says
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Electronics:

SonicBlue moves toward liquidation OK
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New Bankruptcy Opinions
(3 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:

Bankruptcy Provision Violates Free Speech
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Cross-Border:

Tembec Industries Files Bankruptcy as Foreign Firm
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Tembec corrects inaccurate reports on bankruptcy
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Sovereign Debt:

Vulture Culture
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Construction:

Carbone Cos. files for bankruptcy court protection
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Morin Brick files Chapter 11
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Celebs:

Another celebrity in money trouble
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Bianca Jagger Battles Eviction, Says NYC Apt. is Her Primary Residence
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Finance:

The Slow March to End Securitization Inches Forward
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SWFs now hold $3 trillion in assets
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Politics:

Economic advisers for McCain, Obama in tax gap smackdown
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At McCain's Convention, Big Money Still Talks
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Somewhere in what John McCain offered Thursday was an economic philosophy. Big on Reagan, borrows from Bush, but little passion.
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A First Look at (Sarah) Palinomics
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Detroit Crashes the Conventions
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Rangel Failed to Report $75000 of Income, NY Times Reports
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Health Care:

New Parkway Hospital's future remains unclear
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Go Fig settles, relief motion tabled
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Committees:

Upcoming DE Organizational Meetings
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Credit Cards:

American Express Falls as Lehman Brothers Cuts Profit Estimate
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Newspapers:

Chronicle offers voluntary buyouts
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RVs:

National RV files plan
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Private Equity:

Mervyn's suit highlights PE firms' exposure
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PE-backed bankruptcies
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Oil/Gas:

Barclays benefits from SemGroup fall
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Oil group seeks to intervene in SemGroup case
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Fitness:

Keys Fitness wins plan confirmation
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Horticulture:

Hines based plan on asset sale
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UK:

Discounts grow as used values collapse
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The package unravels
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Crunch forces consumers to change habits
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UK, Spanish, Irish Banks' Costs to Rise as ECB Tightens Rules
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Bankruptcy figures double
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EU:

Trichet Focuses on Inflation Even as Growth Slows
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Bank Bond Risk Soars to Five-Month High
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Failed Payments Cost Europe's Banks €21 Billion A Year
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Poland:

Poland says investors agree to save historic shipyards
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Canada:

Widening gap between rich and poor in Atlantic Canada
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Canadian Economy Adds More-Than-Forecast 15200 Jobs
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China:

China's Central Bank Is Short of Capital
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Japan:

Japan's 10-Year Bonds Surge as Stocks Tumble
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Sweden:

Swedish bankruptcies climb
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Russia:

Russian Bond Risk Surges to Four-Year High
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