August 11, 2009
The Daily Bankruptcy News
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Law:
What Killed Venerable NY Firm?
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Heller Profits That Weren't, and Checks That Were in the Mail
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Ashurst set for restructuring boost with White & Case partner hire
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Judge Slams Fee Deals In Energy Partners Case
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The Problem with Houston
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After BigLaw Meltdown, Lawyers Finding Jobs at Mid-Sized Firms
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Paul Hastings Swipes Skadden Star
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Paul Hastings Picks Up L.A.'s U.S. Attorney
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Re: A new U.S. Attorney for Houston & the Southern District of Texas
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Early Global 100 Rankings Show Clifford Chance Slipping
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Linklaters takes top spot in Euro debt and equity capital markets rankings
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Partners back move to merit-based pay
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When Firms Collapse, What Happens to Their Leaders?
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Rumor: King & Spalding Turning Associates into Staff Attorneys
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Layoffs To Come At 'A Law Firm in Manhattan'
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Lawyer Claims Motley Rice Committed Malpractice in His Malpractice Suit
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Ninth Circuit Says 'Litigation Mills' = Bad (Well, Sometimes)
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JPMorgan Stirs the Pot in Billion-Dollar WaMu Litigation
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The Sacred, Immovable, No-Excuses Weekly Conference Call
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DLA Piper relaxes grip on equity with 8 per cent partner increase
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Hawaii Gives Up On UPL
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AGs look to outside counsel amid states' budget woes
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Layoff Expert Offers ‘A Kind Word’ to Worker, Helps the Boss Avoid Liability
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Judge Criticizes Settlement Over Merrill Bonuses
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Federal Judge Seeks Further Briefing in Bank of America Bonus Case
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The Ups and Downs of the Solo Life
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Legal Industry Lost 2,700 Jobs in July
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Ex-AG Gonzales Shunned by Law Firms—and Apparently by Bush
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19-Year-Old to Attend Northwestern Law School
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The Class Action Avenger: Ted Frank's Cool New Job
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A Boom in ‘Overtime’ Lawsuits? Blame Technology
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Survivors say stunt left them twisted
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Loud Yawn Lands Court Spectator in Jail for 6 Months
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‘Garbage’ Suit Leads to Landmark Settlement
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Disbarred Lawyer Charged Over Forged Document
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A divided appeals court affirms jury's $14 million judgment against DA's office
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Don't send the wrong message with a message tee
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Say What?!
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Judges:
So, Is Sotomayor the First Hispanic Justice?
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For Sotomayor, job may take getting used to
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Blogger Accused of Threatening Judges Denied Bond
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Uncle in Dutch: Judge Suspended Without Pay for Helping Kin Get Kinder Sentence
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Expletive-Rich Tirade Ends in Suspension for Judge
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Getting Electronics Into the Courtroom
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Wall Street:
Stocks wait for the Fed
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US Stocks Fall on Valuations
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Stocks Fall as Traders Lock in Profits After Rally
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China stock exchange on a four-day losing streak
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Analyst cuts rating on Berkshire Hathaway
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Credit Suisse fined for violating U.S. research pact
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Alarms on Wall St as KKR edges in
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Layoffs:
National and State by State Unemployment Rates
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Average pay raise is likely to be below 2% in 2010
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Labor sec'y says green jobs hiring will pick up
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Shut Out at Home, Americans Go to China
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An interactive map of vanishing employment across the country
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"Compassionate Downsizing": You're Fired! Want a Hug?
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Aviation:
Southwest says submits binding bid for Frontier
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Southwest raises offer for Frontier by 50%
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Deadline day for bids on Frontier Airlines
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Judge approves Eclipse sale date Aug. 20
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Why Is Congress Paying $66 Million for a $49 Million Jet?
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Newspapers:
Why EW Scripps Is Spiking 28%
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Journal Register Exits Chapter 11
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Hedge Funds:
Hedge Funds Rise 2.35% In July, But Now Trail S&P500
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Texas Fund Manager Settles Insider-Trading Claims
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AIG's Hedge Funds Rebound After $2 Billion in Losses
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Finance:
The CIT Bankruptcy Watch
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CIT Delays Earnings, Bankruptcy Still Likely
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EBay's Bill Me Later could be hit if CIT files for bankruptcy
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Allied Capital Narrows 2Q Loss, Remains in Default
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Allied Capital: Debt Restructuring "Very Expensive"
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Mail:
Your Corner Mailbox Could Be Stamped Out
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Fixing the Mail: Neither Snow nor Rain nor…Red Ink?
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Credit Cards:
Study: Credit card debt hurts start-ups' chances of survival
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Corporate Reform:
National consumer protection agency would upend fragmented structure
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The Consumer Financial Protection Agency
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Personal Finance:
When you become homeless, what happens to your dog?
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Backyard chicken trend is sweeping the nation
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How To Talk To A Bankruptcy Lawyer
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How to Really Stretch a Dollar: The 15 Meals for $15 Challenge
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Freegans: The Ultimate Anti-Consumers
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Shipping:
Maersk Shuts Lindoe, Maker of Biggest Container Craft
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Consultants:
Kurtzman Carson Consultants Recognized for Second Consecutive Year as a Best Place to Work in L.A.
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Photography:
Gamma's Bankruptcy Shows Shift in Photojournalism
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Taxis:
More Fliers Skipping the Cab
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Distressed Investing:
The Year of the Vulture
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Politics:
Why can't Congress fly commercial?
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Economy:
US recession seen ending in Q3, debate over recovery
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Stimulus at Six Months: Boom or Bust?
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Krugman: Big Government Saved Us From Something That Never Happened
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Geithner Asks Congress to Increase Federal Debt Limit
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Hall Says May Take More Than a Year to Deem US Recession Over
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Why Did JP Morgan Decide To Send TARP Warrants To An Auction?
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JPMorgan Chase's Jamie Dimon is taking an unusual tack in buying back the warrants Uncle Sam holds
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1 in 9 Americans now receive food stamps
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Cash-for-clunkers to boost July retail sales
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Even sex tough to sell in this recession
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Why we may not need all the stimulus
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Hank, Is That You? It's Me, Lloyd
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Two Out of Three Things Lost to the Recession Are Not Actually Important
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Economic Stress Index
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Economy Tracker Map
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Recovery Index
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Real Estate:
US Underwater Mortgages May Reach 30%, Zillow Says
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Freddie Mac Surges After Posting Profit, Spurning More Aid
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Freddie Mac Says Its Loss From Taylor Bean May Be 'Significant'
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Home Prices Down in 13 Major Markets
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New mortgage aid idea: debt forgiveness, but with strings
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On Lawyers Who Aren't: CT AG Warns of Foreclosure-Help Fraud
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Countrywide Settlement Cost Bank of America $55 Mln
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Maguire Properties to default on 7 properties
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Maguire Properties says not considering bankruptcy
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Maguire Loss Widens on Plan to Give Up EOP Properties
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Maguire results show bad times for commercial real estate
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CMBS delinquencies at $2bn per month
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US CMBS delinquencies could exceed 5% by year end
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Truth in Lending or Truth in Ownership of Residential Mortgage Notes
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Dallas-Fort Worth preowned home sales fall just 7% in July
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Economy casts shadow over Houston real estate
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Sacramento-area prosecutors focus on mortgage fraud crime
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First Horizon's Performance Earns It a Downgrade
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When condos go broke
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You don't have to pay for help avoiding foreclosure
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Foreclosures bring out cleanup crews
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Builders fear energy law could stall housing rally
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Sidney B. Dunmore still looking for the next big chance
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Autos:
Cerberus Chief Takes Stock of Chrysler Debacle
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It's Not That Steve Feinberg Regrets Buying Chrysler...
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GM Sees eBay as a Way to Reach New Buyers
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When Bankruptcy Gets Tough, The Tough Turn To eBay
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GM says mercury pollution not its problem anymore
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GM's big challenge: Taxpayer payback
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GM, No Longer Public, Will Voluntarily Report Finances To SEC
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Govt. insurer PBGC takes over Delphi pension plans
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GM's financing arm starts new leasing
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Clunkers program worries charities
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Clunkers program could be inflating prices of used cars, hurting the poor
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Winners and losers under 'cash for clunkers'
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Scrap yards see crush of work from 'clunkers'
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Beijing Auto: Lucky to Lose Opel
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Trustees:
The Back-Door Politics Behind Trustees Pursuing Non-Exempt Assets
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Banking:
State Street May Exhaust $625 Million Legal Reserve
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BofA lost money in US during 2nd-quarter
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US judge wary of BofA bonus settlement with SEC
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Lewis Faces More Merrill Queries as $33 Million Accord Delayed
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Bad assets still threaten bank stability, congressional watchdog says
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There's no guarantee, but there's still a Guaranty
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Soured loans on South Florida condos sinking Corus Bankshares
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Bad Loan Mess? Get a Woman to Clean It Up
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What to do about overdraft fees?
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Forever Unequal
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Celebs:
Bankruptcy looming for volatile super chef Gordon Ramsay?
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Is this the final nail in Dykstra's coffin?
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Bubble in bankruptcies even snares celebrities
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Katherine Jackson: The $500 Million Woman?
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Judge to Appoint Guardian Ad Litem for Jackson's 3 Children
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Casino Says NFL Star Owes it $20,000
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Municipalities:
Detroit Mayor Dave Bing says city running out of cash, asks for union wage cut
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California's Still Riskier Than Russia
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California's Unemployment Fund Owes $2.6 Billion
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Battle Over $25B Calif. Budget Cuts is Keeping Litigators Busy
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CA state government hired 3,600 in past year
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Jefferson County job tax legislative session may not go smoothly
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Hockey:
Glendale retailers wary of proposed Coyotes tax district
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Balsillie wants to probe NHL's rejection of him as team owner
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Balsillie, American Needle and the damage done
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Jewelry:
On Finlay's Finale
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Finlay Makes ‘Hot List’ Days Before Bankruptcy
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Oil/Gas:
SemGroup Energy Partners loses $1.7 million in first quarter
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Posters speculate on 'another Oilexco'
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Food/Drink:
Bashas' Announces More Store Closings
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Smooth sailing at San Diego Oceanaire
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Apparel:
Hartmarx completes $128.4 million sale
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Credit Reporting:
States weigh limits on credit checks for employment
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Tech:
Turning Out The Lights: LV Sensors
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Hotels:
InterContinental swings to loss
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Accounting:
E&Y Appreciates the Little People
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Follow-up on PwC Layoffs
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Rumor: Tax Layoffs to Come After Filing Deadlines?
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(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:
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This Week's Poll:
The recession is ending, but bankruptcy lawyers will remain busy for ____ years. Click here to vote and see results |
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Last Week's Poll Results (GM-Gov't)
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Bankruptcy Statistics:
Consumer, Celebrity Bankruptcies May Hit 1.4 Million
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AZ: July bankruptcies up 85% from 2008
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Small-Business Bankruptcy Filings Up 81% in June
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Atlanta small-biz bankruptcies spike
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Bankruptcy Humor:
Bankruptcy Bill
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Insurance:
Madoff-Linked Funds Sue Insurers Over Liability Costs
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No hikes in accountants' legal cover says Marsh
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Liddy Heads Into Retirement From AIG With '$1, a Few Bruises'
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Lehman's Bermuda life insurance unit files for bankruptcy
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The End of Hank Greenberg’s Legal Trouble?
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Mining:
Sterlite ups bid for bankrupt miner Asarco
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Pensions:
Pension managers pocketed $50M despite loss
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Fraud:
DOJ Looks for 'Rock Star' to Run Top-Priority Fraud Cases
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Florida Regulators Turned Blind Eye to Stanford
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Scam artists prey on debtors
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Bernard Madoff, scoundrel
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Nigeria's Scammers Working Harder in Recession
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Corruption at Border Increasingly Evident
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Enormous Prepaid Funeral Scam Alleged
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Court allows third Westar trial
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Tax:
Swiss may allow UBS to turn over more names to IRS
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UBS Tax Settlement Talks Stall
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UK signs Liechtenstein tax deal
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The IRS is Warm and Cuddly Again
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Gambling:
Greektown Casino: Waiting for the chips to fall
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Atlantic City Casino Gambling Revenue Falls 13 Percent in July
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Riviera talks continuing with creditors as $13.5 million loss reported
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Distressed NJ casinos selling at bargain-bin rates
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Trump faces formidable task in casino revival plan
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Executive Compensation:
Bonus Contracts Are Fine, but Bankruptcy Would Enforce Equity
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Big Bonuses and the Future of the Financial Sector
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Entertainment:
Tough times in the ---- industry
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Health Care:
Do Hospitalists Improve the Quality of Care?
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Prescriptions Not As Private As You Thought
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Mass Torts:
Judge Puts Chinese Drywall Cases on 'Rocket Docket'
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Telecoms:
Nortel Again Faces the Auction Block and Parliament
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Ambition gave way to a harsh reality: Pearce, Zafirovski
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Nortel CEO steps down
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Exec: RIM Felt “Snookered” in Nortel Process
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Politicians will put Nortel under scrutiny at meetings
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Derivatives:
A Level 3 problem at Goldman Sachs?
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Thomson $2 Billion Swaps to Face Credit Event Ruling
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Derivatives At Bankruptcy: Saving Small Firms From The Safe Harbor
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UK:
UK Gilts Climb on Concern Recession May Persist; Pound Slides
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Bankers Seek London Panel to Referee Debt Workouts
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More self-employed workers are becoming bankrupt, PwC says
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MG Rover Collapse Won't Be Probed by UK Prosecutors
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Glasgow Is UK's Laziest City
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Britons settle for second best
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Repossessions by sub prime lenders on the rise
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E&Y doubts over Borders as going concern
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Companies crack down on risky suppliers
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EU:
Latvia's rating cut as GDP falls 19.6%
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Canada:
Canada's Flaherty Says G-20 Should Maintain Stimulus
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Canada's Life Insurers Push for Pension Changes
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Go Travel takes vacation
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Ireland:
Ireland prepares to reshape its banking system
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Examinership, Receivership and Liquidation - What's the difference?
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Japan:
Rise in bankruptcies in July signals credit crunch still in effect
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Bank of Japan May Focus on Risks to Recovery, Keep Rate at 0.1%
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Netherlands:
Van der Moolen Seeks Payments Suspension, Posts Loss
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Liquidity Provider Van der Moolen Files Bankruptcy Due To Lack Of Liquidity
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Germany:
Escada Will File for Insolvency If Bond Swap Fails
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Berlin Stasi Museum on Brink of Bankruptcy
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Iceland:
Iceland hits impasse over lost savings
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Report Questions Lending of Iceland Bank
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Middle East:
Dubai needs law reform
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Poland:
Number of Polish firms' bankruptcies seen rising by 26% in 2009.
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