April 14, 2009

The Daily Bankruptcy News

Also available on the Web (with links to the news stories) Click Here
Prior editions: Click Here
Search prior headlines: Click Here
Search prior New Opinions: Click Here

Law:

The Boom Bust
(DBN Subscription Required)

Brobeck Survivors Argue for Right to Clients
(DBN Subscription Required)

Milbank Adds Bankruptcy Partner
(DBN Subscription Required)

Nelson Levine Adds Insolvency Lawyer
(DBN Subscription Required)

Jenner & Block Raids Kirkland to Open in Calif., Is Growing in All Offices
(DBN Subscription Required)

Some Law Firm Clients Ban 1st-Years, Says Morgan Lewis Chair
(DBN Subscription Required)

Obama's Hires Offer Rare Peek Into the Finances of Secretive BigLaw Firm
(DBN Subscription Required)

Lehman Brothers Law Firm Weil Gotshal Seeks $55 Million in Fees
(DBN Subscription Required)

$80,000 for a Year Off? She'll Take It!
(DBN Subscription Required)

Law Firm Layoffs Hit 10K Mark; Thursdays Most Often Bring Bad News
(DBN Subscription Required)

Law Student: I Know 1 Person Who’s Found Work
(DBN Subscription Required)

Hey 2Ls! Forecast Calls for a Bummer of a Summer
(DBN Subscription Required)

Recession causing lawyer layoffs at big firms
(DBN Subscription Required)

Sixteen of firm's partners opt for de-equitization
(DBN Subscription Required)

Greenberg Traurig: Cutting Salaries of First Years and Summers
(DBN Subscription Required)

Start Date Watch: Winston & Strawn, WilmerHale, Baker & McKenzie, and Sonnenschein Delay Start Dates
(DBN Subscription Required)

Skadden's Sidebar: Phase One Complete
(DBN Subscription Required)

Jones Day, Latham Headline Satyam Auction
(DBN Subscription Required)

MoFo Sued for Malpractice; Firm Denies Charges
(DBN Subscription Required)

Bad Economy Spurs One Practice Area: Consumer Debt Collection Suits
(DBN Subscription Required)

Trial on Legality of Luring Lateral Lawyers Set to Begin
(DBN Subscription Required)

Labor Stats for Last Month Paint Dreary Picture for Lawyers
(DBN Subscription Required)

Foreign Trusts Allege N.Y. Lawyer 'Shamelessly Looted' Millions From Accounts
(DBN Subscription Required)

As Wall Street Scandals Explode, Insurers' View of Insiders Puts Collecting Legal Fees at Risk
(DBN Subscription Required)

Miranda Warnings for Lawyers? Recent Rulings Highlight the Possibility
(DBN Subscription Required)

The Great Escape: NY Associate-Turned-Blogger Maps Out His Post BigLaw Apocalypse Exit Strategy
(DBN Subscription Required)

Revisiting Huntsman-Hexion: Did Watchtell Blow It?
(DBN Subscription Required)

Pa. Federal Judge Dismisses Subprime Securities Class Action
(DBN Subscription Required)

Prosecutors Reprimanded for Secretly Taping the Defense
(DBN Subscription Required)

Federal Judges Are Fed Up With Prosecutor Misconduct
(DBN Subscription Required)

Juries Threatened by Sinking Economy
(DBN Subscription Required)

Many GCs Still Fighting Backdating Charges
(DBN Subscription Required)

Could Collective Action by Students From Top Law Schools Change Firms?
(DBN Subscription Required)

Strange Toilet Test at Issue in Wisconsin Murder Trial
(DBN Subscription Required)

Phil Spector Convicted of 2nd-Degree Murder in Actress’s Death at His L.A. Home
(DBN Subscription Required)

Top 3 ‘Peeps in Law’ Entries
(DBN Subscription Required)

Lawyerly Lairs: Personal Injury Edition (Or: Finding million-dollar steals in Manhattan.)
(DBN Subscription Required)

______________

Judges:

Justice Thomas on Dishwashers: ‘What a Device!’
(DBN Subscription Required)

Reexamining “Life Tenure” for Supreme Court Justices
(DBN Subscription Required)

Justice Ginsburg Laments Being High Court's Only Woman
(DBN Subscription Required)

90-Day Suspension Recommended for Rude ‘Judge Judy’
(DBN Subscription Required)

______________

Wall Street:

Wall St futures mixed
(DBN Subscription Required)

Investors wary ahead of a string of corporate earnings
(DBN Subscription Required)

Asian and European Markets Climb After Goldman Profit Surprise
(DBN Subscription Required)

UK Stocks Advance
(DBN Subscription Required)

Most US Stocks Climb as Banks Rally on Earnings Speculation
(DBN Subscription Required)

Goldman Issues Surprise Earnings Report
(DBN Subscription Required)

Cash Beats Stocks for First Time in US Survey
(DBN Subscription Required)

______________

Video Rentals:

S&P downgrades Blockbuster credit ratings
(DBN Subscription Required)

______________

Executive Compensation:

Exxon Mobil CEO’s salary hits $22.4M As Shares Tumbled
(DBN Subscription Required)

______________

Finance:

Libor Falling Fastest Since January on Credit Revival
(DBN Subscription Required)

Venture Fundraising Drops as Investors Shun Startups
(DBN Subscription Required)

Distracted Congress Loses Focus on Credit Freeze
(DBN Subscription Required)

______________

Autos:

Obama Auto Team Said to Consider Converting GM Loans to Equity
(DBN Subscription Required)

Politics rule General Motors run to bankruptcy
(DBN Subscription Required)

Governor: Michigan `can live with' GM bankruptcy
(DBN Subscription Required)

Can GM Be Sold In Bankruptcy?
(DBN Subscription Required)

Bankruptcy is the only way forward
(DBN Subscription Required)

GM Bonds Fall to All-Time Low Following Ratings Cut at S&P
(DBN Subscription Required)

GM shares slump as bankruptcy fear grows
(DBN Subscription Required)

GM Isn't waiting For The Economy To Do It: They're Speeding Up Dealer Cuts
(DBN Subscription Required)

We get it. GM is going bankrupt
(DBN Subscription Required)

Chrysler, Fiat discuss new management, board
(DBN Subscription Required)

Fiat boss could become Chrysler CEO
(DBN Subscription Required)

Chrysler Lenders Expected to Counter Treasury
(DBN Subscription Required)

Chrysler Lenders Want Cash or Other Protection for Debt Swap
(DBN Subscription Required)

Leaning on Fiat's Sense of Direction To Guide Chrysler
(DBN Subscription Required)

Chrysler Faces Roadblocks, Analysts Say
(DBN Subscription Required)

Hummer auction goes to the finish line
(DBN Subscription Required)

B&C Corp. files for bankruptcy
(DBN Subscription Required)

UK considering paying for old cars
(DBN Subscription Required)

Europe's car scrapping schemes are likely to backfire
(DBN Subscription Required)

GM subsidiary Saab concludes job cut talks, 701 employees to go
(DBN Subscription Required)

______________

Bankruptcy Statistics:

Bankruptcies surge despite law meant to curb them
(DBN Subscription Required)

Bankruptcy filings stacking up in San Antonio
(DBN Subscription Required)

Bankruptcies jump 71 percent in Nevada
(DBN Subscription Required)

______________

Utilities:

Energy Future may need debt exchange
(DBN Subscription Required)

______________

Food/Drink:

Pilgrim's Pride to close Ga. plant employing 280
(DBN Subscription Required)

Bruno's Supermarkets seeks auction
(DBN Subscription Required)

______________

Weddings:

Brides Kiss Dream Weddings Goodbye as Vendors Shut
(DBN Subscription Required)

______________

 

 

Economy:

Fed’s Fisher Forecasts Steep Contraction in US GDP
(DBN Subscription Required)

Averting Depression as Consumer in US Fades
(DBN Subscription Required)

Fannie Mae’s Allison Said to Be Leading Candidate to Run TARP
(DBN Subscription Required)

TALF Needs Chaperon Before Investors Will Dance
(DBN Subscription Required)

What Came First, The Rumor Or The Liquidity Crisis?
(DBN Subscription Required)

Twelve Years Down the Drain - The credit crisis has cost us a dozen years' wealth in a matter of months
(DBN Subscription Required)

Consumer Confidence Nearly Doubles In March
(DBN Subscription Required)

Homegrown marijuana operations have soared by 60 percent
(DBN Subscription Required)

Recession Pain, Even in Palm Beach
(DBN Subscription Required)

Illinois snags chunk of fed stimulus work; 1 out of 9 road, bridge projects?
(DBN Subscription Required)

Presto: Another $750 Billion
(DBN Subscription Required)

______________

Real Estate:

Older Borrowers, Out in the Cold
(DBN Subscription Required)

Plaza files for bankruptcy protection
(DBN Subscription Required)

Fannie, Freddie Both Need CEOs
(WSJ: separate paid subscription required)

The New Condo Reality
(DBN Subscription Required)

Manhattan Apartment Rents Fall as Unemployment Rises
(DBN Subscription Required)

Obama for Change (In Your Mortgage)
(DBN Subscription Required)

Distressed Vantage Lofts Note Comes to Market
(DBN Subscription Required)

Statler Towers Will Remain Open Despite Bankruptcy
(DBN Subscription Required)

Is America's love affair with the "exburbs" over?
(DBN Subscription Required)

Thieves Take High-End Home Decor
(DBN Subscription Required)

______________

Banking:

Big Banks Rally As Wells Fargo Bolsters 1Q Expectations
(DBN Subscription Required)

The Miracle of Wells Fargo?
(DBN Subscription Required)

Wells Fargo May Need $50 Billion in Capital, KBW’s Cannon Says
(DBN Subscription Required)

Goldman Sets Plan To Escape U.S. Grip
(WSJ: separate paid subscription required)

Bank 'Stress Tests' Not So Stressful
(DBN Subscription Required)

Tarp investigator seeks evidence of book fiddling
(DBN Subscription Required)

The Criminal in the Bank Next Door
(DBN Subscription Required)

SEC to review if BofA broke the law
(DBN Subscription Required)

BofA Suspends Overdraft Fee Increase
(DBN Subscription Required)

Alliance Bank Defaults, Finds $1.1 Billion Liability
(DBN Subscription Required)

______________

Distressed Investing:

Goldman Sachs’s Fund May Find Deeper Bargains Amid LBO Detritus
(DBN Subscription Required)

______________

Retailing:

Z Gallerie files for bankruptcy protection
(DBN Subscription Required)

Circuit City seeks to sell brand, Web site
(DBN Subscription Required)

Brand Names Live on After the Stores Are Closed
(DBN Subscription Required)

America's Love Affair With Malls Ends
(DBN Subscription Required)

1-800-Mattress Franchisee Challenges Franchisor Sale to Sleepy's
(DBN Subscription Required)

Talbots Reports Loss of $2.40 a Share, Missing Estimates
(DBN Subscription Required)

______________

Oil/Gas:

A Question for Lawyers Representing Mineral Contractors to Ask
(DBN Subscription Required)

Crude Oil Falls After IEA Cuts Demand Forecast to Five-Year Low
(DBN Subscription Required)

Kivisto agrees to pay bank
(DBN Subscription Required)

SemGroup seeks dismissal of Catsimatidis lawsuit
(DBN Subscription Required)

Energy Stocks: The Economic Recovery May Be Slow
(DBN Subscription Required)

______________

Fraud:

Investors file to force Madoff into bankruptcy
(DBN Subscription Required)

Madoff liquidator pursues $80m held in the Bank of Bermuda
(DBN Subscription Required)

Madoff-Linked Asset Freeze in Connecticut Suit Lifted by Judge
(DBN Subscription Required)

Stanford Receiver Asks to Free Some Trust Accounts, Hold Others
(DBN Subscription Required)

The Difference Between a Ponzi Scheme and an Investment Bank?
(DBN Subscription Required)

The Heroes of Financial Fraud
(DBN Subscription Required)

______________

Mining:

Asarco gets new offer
(DBN Subscription Required)

Grupo Mexico offers $1.3 bln for bankrupt Asarco
(DBN Subscription Required)

Asarco files to protect its stake in copper mine
(DBN Subscription Required)

______________

Municipalities:

Flint facing more severe budget realities
(DBN Subscription Required)

Some U.S. Municipalities on Brink of Default and Consider Chapter 9
(DBN Subscription Required)

______________

Construction Equipment:

Gehl May Face Bankruptcy
(DBN Subscription Required)

______________

Insurance:

Defaults, Bankruptcies and D&O Claims
(DBN Subscription Required)

TARP the Life Insurers? This Is Nuts
(DBN Subscription Required)

MetLife Won’t Seek Capital Injection From US Treasury
(DBN Subscription Required)

Fidelity National Financial plans public offering
(DBN Subscription Required)

______________

Horse Racing:

Maryland Passes Bill to Purchase Preakness Horserace
(DBN Subscription Required)

Md. legislators OK billion buying Preakness Stakes
(DBN Subscription Required)

Bankruptcy Fuels Fear Over Preakness
(DBN Subscription Required)

______________

Politics:

Tea Parties Forever
(DBN Subscription Required)

______________

Student Debt:

Plan to Change Student Lending Sets Up a Fight
(DBN Subscription Required)

Student-loan debtors get breaks
(DBN Subscription Required)

______________

Fitness:

Peak Fitness Files for Bankruptcy
(DBN Subscription Required)

______________

RVs:

Bankruptcy Judge Approves Long-Term Country Coach Plan
(DBN Subscription Required)

______________

Credit Cards:

A Few Pennies for Your Thoughts _ and Credit Card
(DBN Subscription Required)

______________

Sports:

Hicks Entity Found in Default
(WSJ: separate paid subscription required)

Sale of Cubs Is Said to Hit Delays
(DBN Subscription Required)

______________

Hotels:

More Hotels Facing an Uncertain Future
(DBN Subscription Required)

______________

Advertising:

Global Ad Spending to Drop Most in 29 Years, Hurting TV, Print
(DBN Subscription Required)

______________

 

New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Court Web/Pacer Site Directory

Chapter 7, 12 & 13 Private Trustee Locator
(DBN Subscription Required)

Recent Ch. 11 Filings
(DBN Subscription Required)

Bankruptcy Jobs:

(1)- (2)- (3)- (4)- (5)- (6)- (7)- (8)- (9)- (10)
(DBN Subscription Required)

____________

 

Tax:

More Americans wary of tax man this year
(DBN Subscription Required)

IRS offers to work with filers
(DBN Subscription Required)

Bizarre tax laws hit crack heads, pro-athletes
(DBN Subscription Required)

Tea Party Society sets Tax Day protests
(DBN Subscription Required)

______________

Gambling:

Analysts: Harrah’s plan might not stave off bankruptcy
(DBN Subscription Required)

MGM Mirage Rises 18% on citycenter Waiver, Dubai Plan
(DBN Subscription Required)

______________

Bankruptcy Crimes:

Farmer gets 10 years for bankruptcy fraud; guns found
(DBN Subscription Required)

______________

Layoffs:

Furloughs or Layoffs?
(DBN Subscription Required)

Longer Unemployment for Those 45 and Older
(DBN Subscription Required)

Layoff and recession sarcasm: Best and worst
(DBN Subscription Required)

Jobless wave continues through suburbs
(DBN Subscription Required)

Older Workers More Likely to Face Long-Term Unemployment
(DBN Subscription Required)

More UBS job cuts seen, 240 axed in Asia-Pacific
(DBN Subscription Required)

______________

IP:

Article on IP Licenses and Bankruptcy
(DBN Subscription Required)

______________

Consultants:

The Claro Group Expands Corporate Restructuring and Energy Industry Expertise with Key Leadership Additions
(DBN Subscription Required)

______________

Celebs:

He's baacck: Lou Pearlman manages a band from behind bars
(DBN Subscription Required)

______________

Chapter 13:

Chapter 13 For a Week?: Pulling an End-Run Around the 'Applicable Commitment Period'
(DBN Subscription Required)

______________

Aviation:

Labor negotiations tough for United
(DBN Subscription Required)

AMR’s Serious Labor Troubles
(DBN Subscription Required)

Qantas Airways Sharply Cuts Annual Profit Forecast
(DBN Subscription Required)

______________

Telecoms:

Report: Nokia Siemens bids for much of Nortel
(DBN Subscription Required)

RIM Squeezes BlackBerry Suppliers as Economy Stalls
(DBN Subscription Required)

______________

Accounting:

PwC stands by Satyam partners
(DBN Subscription Required)

PwC ranked top for accounting jobs
(DBN Subscription Required)

KPMG's tax department implements four day week
(DBN Subscription Required)

The Fair Value Litany
(DBN Subscription Required)

______________

Newspapers:

Tribune to cut 90 more from newsroom
(DBN Subscription Required)

Philadelphia 'Inquirer' Battle Is Heating Up
(DBN Subscription Required)

Lenders Agree to Let Philly Papers Hire Adviser
(DBN Subscription Required)

Newspapers Are on Fast, Worrisome Path to Oblivion
(DBN Subscription Required)

______________

Agriculture:

Farmers voice concern on Pilgrim's Pride deal
(DBN Subscription Required)

______________

UCC:

A Worrisome Opinion on Perfection of Liens
(DBN Subscription Required)

______________

Personal Finance:

15 steps if bankruptcy is inevitable
(DBN Subscription Required)

Economy Dampens Hope of a Comfortable Retirement
(DBN Subscription Required)

______________

Derivatives:

LyondellBasell CDS contracts to pay over $675 mln
(DBN Subscription Required)

______________

UK:

Why Manchester United Must Ask Prudential for More Money
(DBN Subscription Required)

Up to 50,000 people could turn to Debt Relief Orders in their first year say KPMG
(DBN Subscription Required)

Debt denial - two thirds of those with major financial problems are not seeking advice
(DBN Subscription Required)

Northern Ireland’s Economy Shrinks Most Among UK Regions
(DBN Subscription Required)

_____________

EU:

Euro Slides on Speculation Slump Will Force ECB to Cut Rates
(DBN Subscription Required)

_____________

Canada:

Alcoa May Cut Quebec Output Without Wage Concessions
(DBN Subscription Required)

Crunch time for Canwest ... again
(DBN Subscription Required)

Canwest shares now 'worthless'
(DBN Subscription Required)

______________

Germany:

German retailer Woolworth Deutschland files for bankruptcy protection
(DBN Subscription Required)

Unemployment Surges in Germany’s Golden City
(DBN Subscription Required)

Hypo Real Estate Says Soffin Extends Guarantees
(DBN Subscription Required)

_____________

Japan:

Japan's Aeon tumbles to first net loss in 7 years
(DBN Subscription Required)

_____________

Pakistan:

Warning that Pakistan is in danger of collapse within months
(DBN Subscription Required)

______________

Brazil:

Brazil Economists Expect Deepest Recession Since 1992
(DBN Subscription Required)

______________

Asia:

Asia-Pacific Bond Risk Falls, Credit-Default Swap Prices Show
(DBN Subscription Required)

______________

Taiwan:

Taiwan’s Credit Rating Outlook Cut to Negative by S&P
(DBN Subscription Required)

______________

Singapore:

Singapore Forecasts Even Worse 2009 for Its Economy
(DBN Subscription Required)

______________

Russia:

Russia's Lingering Bank Worries
(DBN Subscription Required)

______________

Please note that the Daily Bankruptcy News is primarily a news link gathering service.   This means that most of the headlines contained in the publication are a collection of links to stories posted on the Internet by various third party publications.  Such content is owned by third party sources, not the Daily Bankruptcy News, and in some cases, these links change or expire, which means you may not be able to view some news stories in prior editions of the Daily Bankruptcy News. The DBN subscription fee for access to certain links is not a fee for access to the content of the links, but is a charge for the considerable work involved in gathering, organizing and presenting the links. Use of this site and The Daily Bankruptcy News is subject to our Terms of Use.If you received the Daily Bankruptcy News via email (and you have a paid subscription account), to view a news story, click on the headline, and the story should open in your web browser. To view additional stories, click back to the email and click on additional headlines, which will cause new stories to open in your web browser.  You can view the Daily Bankruptcy News on the web by clicking here, or by going to BKINFORMATION.COM and clicking on the Bankruptcy News button.  Note that the Daily Bankruptcy News is distributed via "HTML email" in which the links to the news stories are embedded in the headlines.  The email you receive should look like a 3-column newspaper, with headlines for each story. If you receive the Daily Bankruptcy News by email and the copy you receive is not formatted like a 3-column newspaper, or does not seem to contain links to the news stories, you may have an email client that is not capable of receiving HTML email, or is not configured to display such email.  You can however, receive a daily email notifying you when the Daily Bankruptcy News is updated on the web site. If you would like to receive such an email, please let us know at admin@bkinformation.com.You can search the headlines from prior editions of the Daily Bankruptcy News by clicking here.

Advertising
Advertising is available in the Daily Bankruptcy News in a variety of places, formats and prices. Go to http://bkinformation.com/DBN_ADs.htm  for a list of choices.  Feel free to contact us with any questions.

Passwords
Access to certain links in the Daily Bankruptcy News is available only to readers holding a paid subscription.  These links are currently marked with a "DBN Subscription Required" notation. The cost of a subscription is $55/year, payable annually.  Volume discounts are available for sites with multiple users. Click here to see a schedule of discounts. Complimentary subscriptions are available for full-time educational and governmental employees and for full time students. For information about discounts or educational/governmental subscriptions, contact us by clicking here. A separate password is required for each member of a firm wishing access to restricted links. New readers can receive a free password good for 30 days by going to http://bkinformation.com/RegistrationForm.cfm. Refunds are not available after purchase. Readers who wish to change their passwords should go to http://bkinformation.com/ChangePasswordForm.cfm. Readers who have forgotten their password should go to http://bkinformation.com/GetPassword.cfm

Adding Your Email Address To The Distribution List
If you would like to start receiving the Daily Bankruptcy News by email each day, go to http://bkinformation.com/SubscribeDBNForm.cfm  and fill in the information requested.  There is no charge to be placed on the distribution list to receive the headlines, although access to many of the links behind the headlines requires a paid subscription (see above, under Passwords). If, after adding your email address to the distribution list, you do not receive an email confirming the addition, please contact us by clicking here for help.  

Removing Your Email Address From The Distribution List
If you already receive Daily Bankruptcy News by email and you wish to remove your email address from the distribution list, click here and send the email that should appear.  Note that the email must be sent from the same email address at which you are receiving the Daily Bankruptcy News. You do not need to type anything in the body of the email message.   If you do not receive an email confirming deletion of your email address from the distribution list  for the publication, contact us by clicking here for help.

Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C.  You can reach us at 281-402-3957 or at accounting@bkinformation.com (email inquiries are usually answered substantially more quickly than phone inquiries).