September 8, 2008

Daily Bankruptcy News

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Law:

Winstead Ordered to Disgorge up to $500000 in Bankruptcy Case
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Orrick hired Raniero D'Aversa away from Mayer Brown. More restructuring hires at the firm should follow.
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Associates Gone Wild, Part II: Cadwalader Lawyers Speak
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Lawyers and the Fannie, Freddie Takeover
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U.S. Takeover of Mortgage Giants Followed Failed Talks at Davis Polk
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A&O's plan to become world's "most successful" elite firm
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Will Thelen - Or Heller - Be the First to Find a Dance Partner?
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Merger Mania: Nixon Peabody + Thelen = Nixlen Thelpea?
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Nixon/Taylor Wessig Partner-Stealing Case Comes to a Head
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Cooley and Gunderson's Failed Romance
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No Offer Watch: Foley Didn't Get the Memo. 43% Offer Rate? Tastes Like Burning
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Female partners defy glass ceiling in record numbers
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Location key to female career progression at Clifford Chance
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Digital Data Drive Up Legal Costs
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One of World's Biggest Law Firms Seeks Image Upgrade
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Dropping the Billable-Hour Rule, a Year Later
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Opponent 'Bought' Privileged Docs, Used Them to Seek More
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Costs & Revenues: Health Check Time
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Stevens & Brand Adds Bankruptcy Partner
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Biglaw Attorneys in the U.K. More Than a Little Out of Touch
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8th Cir. Ruling Lets Bankruptcy Lawyers Speak More Freely
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New Indictment of Fen-phen Lawyers Adds Charges, Seeks $50M More
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Legal Malpractice Payouts Above $2M Increasing
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Site Asking Fred Baron to 'Give the Money Back'
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"Off-the-Menu" Captures Associates' Trials and Tribulations
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Heat Gets Turned up on Immigration Firm
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Former Law Firm Partner Going to Prison on Tax Charges
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Testing Martindale-Hubbell's Uber-Network
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Conflict-of-interest disputes often turn on arcane points of law, but that is hardly the case with this one
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OJ Simpson returns to court on armed robbery charges
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Forensic breakthrough on text messages
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Temporary Stay Issued in White House Subpoena Case
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Say What?!
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Judges:

Former Judge Pleads Guilty to Transporting Prostitute Across State Lines
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Suspended Judge Hospitalized; Husband Jailed
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For a Defiant Judge Samuel B. Kent, the Best Defense Is a Good Offense
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Autos:

Detroit's sputtering Big Three turn to Washington for help
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UAW, automaker to talk strategy
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Ford: Loan guarantees would speed new technologies
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Auto industry helps drive jobless rate to 5-year high
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Supplier to close plant, cut jobs
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Buyouts of auto parts makers have a mixed record, and survivors will be battle tested
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Wall Street:

US Stock-Index Futures Jump on Fannie, Freddie Takeover Plan
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German Stocks Jump Most in 7 Months, Led by Banks
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Fannie/Freddie Lead Parade Of Asian Financials
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Jobless data send a chill wind through blue chips
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Lehman in fresh shake-up of top executives
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KDB Should Ask If Lehman Bid 'Makes Sense,' Jun Says
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Long-Term Capital: It's a Short-Term Memory
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Predatory Lending:

Some States Set Caps to Control Payday Loans
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Insider Compensation:

If the Pay Fix Is in, Good Luck Finding It
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Directors start to feel the pinch as salary rises slow
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Corporate Reform:

AIG's Greenberg Faces Fine
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Bankruptcy Statistics:

Commercial bankruptcies soar, reflecting widening economic woes
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Bankruptcy filings climb for Augusta, neighbors
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Oil/Gas:

Bank seeks examiner for case
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Mining:

Asarco settles Wa. environmental claims
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ARS:

State officials to Bank of America: Not so fast on the ARS settlement
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SEC 'Missed Opportunity' to Repair Auction-Rate Market Injuring Investors
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Complaint Over Auction Rate Market Details Brokers' Greed
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Retailing:

Sears' softest side? Its P&L statement
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Mall Owners File Ch. 11
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Retail sector loses almost 20000 jobs in August
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Lenders shorten financing lifelines for major retailers
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Real Estate:

Mortgage Foreclosures, Delinquencies Reach Highs
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Government takes over Fannie Mae, Freddie Mac
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A Tangled Web With Many Raveled Threads
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US Takeover of Fannie, Freddie Offers 'Stopgap'
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As Crisis Grew, a Few Options Shrank to One
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Fannie, Freddie Bailout Has Global Implications
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Few Stand to Gain on This Bailout, and Many Lose
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Frannie CDS Triggered
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Having it both ways: Can Fannie and Freddie lend more, charge less, and take fewer risks?
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Paulson Taps Allison, Moffett to Run Fannie, Freddie
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U.S. Unveils Takeover of Fannie Mae and Freddie Mac
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How plan protects taxpayers
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Five reasons the Fannie/Freddie bailout should not happen
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Takeover Q&A
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Fannie, Freddie stocks likely to fall after bailout news
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U.S. Outlines Fan-Fred Takeover
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Fannie, Freddie deal helps some borrowers, not all
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Fannie & Freddie: A tale of two Bills
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Why Feds moved to take over mortgage giants
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Mortgage Giants Agreeable to Rescue, but Cost Is Unknown
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US Losses on Fannie, Freddie May Be $300 Billion
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'Accounting methods inflated capital'
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Fannie Mae investor sues five banks
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Forbes Says Government Should Break Up Fannie Mae, Freddie Mac
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Mortgage giants blind to bubble
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Mortgages: Shying Away From N.Y. Loans
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Ohio Tops Nation On Foreclosure Rates
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MILA chief executive sued by bankruptcy trustee
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Dream project became star builder's nightmare
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SunCrest creditors' committee settles with Zions Bank
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Home builders regrouping for market conditions
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Troubled subprime borrowers hit record 9% at end of June
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Foreclosure auctions no place for amateurs
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Flipping Foreclosures- A Case Study
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Where Homes Are Selling Fast
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Dismissal denial gives Encap room
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Carbone creditor objects to cash use
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Politics:

Joe Biden and the Judges
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McCain, Obama Split Over Social Security
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Obama says could delay rescinding tax cuts
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McCain, Obama Need to Talk About the `D' Word
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Palin's Hockey Rink Leads to Legal, Financial Trouble
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Interest Was Waived for Rangel on Loan for Villa
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Credit crisis finally grabs limelight in White House race
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Candidates' Plans For Struggling Homeowners
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Hunter Biden's lucrative city
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Economic Policies of McCain vs. Obama: Part Two
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McCain's "Gas Tax Holiday" Bad Idea As Highway Fund Nears Bankruptcy
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Which candidate feels pain of US economy?
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Credit Cards:

Warren: Connect the Dots
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Credit Crisis Puts a Dent in Card Offers
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More consumers getting trapped in credit card debt
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Telecoms:

Vitelco trustee seeks auction help
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Municipalities:

Judge clears way for Vallejo bankruptcy battle
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Enough Triad trashing
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Judge has long history in bankruptcy law
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Greed will only muddy Jefferson County sewer debt talks
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Gov. Riley says Jeffco creditors to respond by this week
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Alabama group files suit over Jefferson County debt
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Jeffco officials hope for bond deal
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Municipal bonds have become an exciting investment
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Corporate Governance:

Legal Coverage for 'Doing the Right Thing'?
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Chancery Court Dismisses Claims Against Board of Lear Corp. for Payment of Termination Fee to Bidder Led by Carl Icahn
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Hedge Funds:

Accused Manager's Bail Set at $10M
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Publishing:

Wary creditors endanger AMI recap
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Buses:

Millennium Transit initiates Chapter 11
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Defaults:

Default rate hits five-year high-and could go higher
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Food/Drink:

Tyson Reduced to Junk
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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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Economy:

Losing jobs (and elections?)
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Mortgage crisis has Washington putting aside free-market ideology
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US Jobless Rate Rises Past 6%, Highest Since '03
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The trial of jobs
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American consumers tighten up spending
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Volcker Says Finance System 'Broken,' Losses May Rise
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Gabelli says U.S. consumer has been in recession since November 2007
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Mandel Says It's a Recession
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New Jobless Numbers Push Misery Index Up to 11.7 Percent
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Hurricane Ike threat stalls Gulf oil recovery
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The Great Dollar Pump of 2008: A Doomed Central Bank Intervention
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Eager for the next bubble? Here are 5 contenders
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Insurance:

Munich Re Says Market, Claims May Stop Rate Decline
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Ex-AIG Chief Greenberg Isn't Considering $100 Million Deal, Spokesman Says
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Investors Lost $1.4 Billion in General Re, AIG Fraud, U.S. Prosecutors Say
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The problems of insuring against systemic risk
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Distressed Investing:

The Loan-To-Own Strategy & Credit Bidding
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Student Debt:

Counseling on Student Loans Now May Ease Pain Later
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Banking:

Silver State Implodes
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Silver State is 11th failed bank this year
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As another bank folds, the FDIC gets lower on money
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Paulson Bets He Can Do What Eluded Bernanke: Get Banks to Lend
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Wells Fargo exec. says lenders failed the prudent test
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Lenders With 'Outsize' Fannie, Freddie Stakes May Need Capital
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Bank Insiders Purchase Own Stock at Fastest Pace in Two Decades
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WaMu to Oust Killinger, Name Meridian Capital's Fishman as CEO
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Is Wachovia the Worst Run Bank in America?
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Celebs:

Tommy Lee Jones hires auditors to sift through film finances
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Former Vick adviser declines to answer questions at hearing
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Aviation:

Big airlines have little to gain from Chapter 11
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Two Airlines Cut Fuel Surcharges
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Airline Downsizing: High Fares and Packed Flights
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Strike shuts down Boeing operations
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Trustee says some Zoom creditors are out of luck
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Turnaround Experts to Run Alitalia
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Alitalia suppliers seek advance payments
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Alitalia adviser to meet BA on rescue plan
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Alitalia Takes Rescue Plan to Possible Suitors
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Airline failures spark flight rights campaign
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State Declares AiRUnion Crisis 'Over'
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Spanish carrier Futura to resume flights after declaring bankruptcy
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UK:

A steady stream of U.K. retailers has filed for administration, but the expected torrent hasn't arrived
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Take an evening class in failure
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UK August Producer Prices Drop Most in 22 Years
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Asset-based borrowing on the rise
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UK industrial downturn set to quicken
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'Overvalued' Pound to Fall 20% as Darling Despairs
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Home loans head for negative equity
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DLA Piper appointed for Dawnay Day administrators
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Japan:

Japan Real Estate Bankruptcies Surge in August
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Japanese Men Risk Losing 1/2 Their Pension: 6% Divorce Spike
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EU:

Borrowing Binge Weakens Europe's Companies as Recession Looms
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Canada:

Ruling consolidates BSE class action suits
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ABCP plan backers argue against a Supreme Court hearing
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Canadian bankruptcy on the rise
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Sklar Peppler Furniture declares bankruptcy
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South Korea:

Personal Bankruptcies Soar 10-Fold Over 3 Years
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Poland:

Warsaw confident over shipyard plans
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Spain:

Colonial seeks deal with creditors next week
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