August 12, 2009

The Daily Bankruptcy News

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Law:

Lerach Costs Former Firm $45 Million in Fees
(DBN)

Report Says Heller Inflated Profits to Retain Partners, Seeks $106M from Lawyers
(DBN)

How Heller Ehrman Went Under
(DBN)

Former Heller Chairman Calls Creditors' Claims of $9 Million in False Profits 'Without Merit'
(DBN)

Thelen Loses Bid to Set Aside Default Judgment
(DBN)

A squeal of protest for bankruptcy judge's ruling
(DBN)

The (Monthly) Cost of Bankruptcy
(DBN)

The Global 100 Takes Shape: Clifford Chance's Fall
(DBN)

AmLaw: Cadwalader Still #1 for Layoffs
(DBN)

Study Predicts 5 Percent Growth in Legal Spending by Fortune 1000
(DBN)

Turns Out Cravath Won't Reign Supreme
(DBN)

Troutman Group Sets Up Own Shop
(DBN)

Several Ex-Wolf Block Lawyers Find Homes in Smaller Firms
(DBN)

Gilbert Oshinsky Lays Off 4 Lawyers, 9 Staff
(DBN)

Economy Driving More Work/Life Balance at Law Firms
(DBN)

How Do You Change Careers Without Taking a Pay Cut?
(DBN)

Cooking the Books, BigLaw Style
(DBN)

Singley joins Ciardi law firm
(DBN)

Hiring Laid-Off Associate Gets Firm Fired
(DBN)

BigLaw Partner Lands GC Gig at GE Unit
(DBN)

Law firms share recession survival tactics
(DBN)

Does the legal profession need to fundamentally change the way it does business?
(DBN)

More Canceled Summer Programs: Quarles & Brady, Dorsey & Whitney (outside Minneapolis)
(DBN)

Law Prof: Outside Ownership Could Help BigLaw
(DBN)

Bush Aides 'Deeply Involved' in Prosecutor Firings
(DBN)

Judge orders Microsoft to stop selling Word
(DBN)

Rakoff to SEC, BofA: Hold Off on that Merrill Bonus Settlement
(DBN)

Judge Rakoff wants facts!
(DBN)

A 'Ghost or a Human Being?': Rakoff Hands it to BofA, the SEC
(DBN)

Singapore Won't 'Turn Back,' Will License New Foreign Law Firms
(DBN)

Secondments are not only for associates but also partners
(DBN)

Will Increased Compliance Burdens Lead to Legal Process Outsourcing?
(DBN)

Top Law Firms Named for Working Moms; 62% Allow Full-Time Telecommuting
(DBN)

No Shame On These Biglaw Firms XX
(DBN)

NY Lawyer in Dominatrix/Mortgage Scandal Says He Didn't Do It
(DBN)

Lawyer Pens Musical About Patent Fight
(DBN)

Taking Off the Suits and Turning Up the Amps
(DBN)

Fed’l Judge Casts Cold Eye on Lawyer’s ‘Simply Ridiculous’ Shrimp Claim
(DBN)

A Sure Way To Get No Offered: Spitting Blood on a Cop But don't tase him, bro!
(DBN)

Customer Sues McDonald's for Beating
(DBN)

‘Lawyers in Love’ Could Be White House Theme Song
(DBN)

Say What?!
(DBN)

______________

Judges:

Lawyer Says Judge Lacks Empathy and Sense of Humor, Wants Her Off His Case
(DBN)

O’Connor Still Decides Cases; Issues Range from Pet Wolves to Stolen Wire
(DBN)

A Chat with Justice Sandra Day O'Connor
(DBN)

______________

Wall Street:

US Index Futures Fluctuate
(DBN)

US stock index futures signal dip ahead of Fed
(DBN)

China shares fall on slower-than-expected recovery
(DBN)

U.S. Stocks Fall on MBIA Downgrade, Outlook for Bank Earnings
(DBN)

US Stocks Close Lower For 2nd Day Ahead Of Fed
(DBN)

The Final Days of Merrill Lynch
(DBN)

Who's Afraid of the Big, Bad Pay Czar? Wall Street Paydays Keep Coming
(DBN)

Hank Paulson Is Too Busy to Address Rumors That Threaten His Reputation and the Reputation of His Former Company
(DBN)

______________

Layoffs:

National and State by State Unemployment Rates
(DBN)

Laid-off workers seize chance for fresh start
(DBN)

Employers slow to hire amid hope of recovery
(DBN)

Americans working much harder - for less pay
(DBN)

US economy won't provide enough good jobs to maintain our standard of living
(DBN)

______________

Fraud:

Madoff Got Cozy With SEC, Ran Ponzi Scheme on Old IBM
(DBN)

Ex-Madoff Finance Chief Frank DiPascali Pleads Guilty
(DBN)

Madoff deputy DiPascali will “tell all”
(DBN)

Madoff CFO: 'It Was All Fake. It Was Wrong, and I Knew It Was Wrong'
(DBN)

Madoff Relied on 'Key Lieutenant,' Old Stationery to Hide Scam
(DBN)

DiPascali Faces Conspiracy, Fraud, Tax Charges
(DBN)

Madoff top aide could get 125 years
(DBN)

In a time of gov't cutbacks, Should wealthy inmates pay for their own prison stay?
(DBN)

Stanford Hits Opposition in Quest for New Attorney
(DBN)

Stanford Financial Receiver Seeks D&O Insurance Proceeds
(DBN)

SEC Would Like the Stanford Receiver to Relax a Little
(DBN)

Should lawyers be held more accountable in securities fraud?
(DBN)

Is Accounting Fraud Coming to Broadway?
(DBN)

______________

Corporate Reform:

The SEC is still lame
(DBN)

______________

Pensions:

Nortel's Canadian pensioners fear US asset-grab
(DBN)

Ex-salaried to fight for Delphi pensions
(DBN)

______________

Derivatives:

US court rejects dismissal in key Lehman CDO case
(DBN)

AIG derivatives unit raises over $1.9 billion selling assets
(DBN)

Obama Sends Derivatives Industry Proposal to Congress
(DBN)

______________

Private Equity:

Chicken, Biscuits And Term Loans
(DBN)

______________

Shipping:

Shipping Industry Fights for Survival
(DBN)

Port of Oakland Facing Hard Times
(DBN)

Derivative losses push Euroseas in the red
(DBN)

______________

Consultants:

SEC probes Huron Consulting in wake of scandal
(DBN)

______________

Celebs:

MC Hammer Owes Over $600,000 In Taxes
(DBN)

Dykstra May Be Forced To Liquidate
(DBN)

Project Runway alum files for bankruptcy
(DBN)

M.J. Investigators Raid Vegas Pharmacy
(DBN)

California law may stop Mark Lester from proving he's MJ's daughter's dad
(DBN)

______________

Printing:

Heidelberger Druck Falls After Fifth Quarterly Loss
(DBN)

Bankrupt AbitibiBowater sees bigger Q2 loss
(DBN)

______________

Hedge Funds:

Atticus Shuts Down: Five Greatest Hedge Fund Farewells
(DBN)

______________

Radio:

Radio operator files for bankruptcy protection
(DBN)

______________

Magazine:

Vibe magazine may get a revival
(DBN)

______________

 

Economy:

Productivity rises in 2Q while labor costs plunge
(DBN)

June Wholesale Inventories Down 1.7%; Sales Up 0.4%
(DBN)

Elizabeth Warren says banks' toxic assets are still festering
(DBN)

Watchdog's Report: TARP Never Bought Any Troubled Assets
(DBN)

AIG boss: 'America has lost confidence in corporations'
(DBN)

Fed Faces Its Zimbabwe Moment
(DBN)

U.S. economy has bottomed: George Soros
(DBN)

As Economy Turns, Washington Looks Better
(DBN)

Economic Stress Index
(DBN)

Economy Tracker Map
(DBN)

Recovery Index
(DBN)

______________

Real Estate:

US home prices fall, but rate slows
(DBN)

US MBA Mortgage Applications Index Fell 3.5 Percent Last Week
(DBN)

Bankruptcy Judges, Justice Dept. Rip Mortgage Companies
(DBN)

Zombie Subdivisions and "Pig In The Python" Shadow Inventory
(DBN)

TBW lawyers: Bankruptcy filing is 'imminent'
(DBN)

Editorial: Foot-dragging by the banks
(DBN)

Banks start foreclosure on 2600 mortgages
(DBN)

TMG tapped to manage Hines buildings
(DBN)

Senate Committee Considers Mortgage Disclosure for Congress
(DBN)

Using Retirement Money to Pay Off Mortgages
(DBN)

Chicago home sales, prices show monthly improvement
(DBN)

FL: Failures rising among districts that maintain new subdivisions
(DBN)

Toll Brothers revenue down 42%, new contracts rise
(DBN)

Luxury home builder Impel Inc. files for bankruptcy protection
(DBN)

Real Estate Industry Getting Creative with Financing Sources
(DBN)

_____________

Autos:

GM submits executive compensation plan
(DBN)

Taxpayers may never recoup GM bailout
(DBN)

What's Good for GM
(DBN)

State officials ask feds for up to $2B to boost suppliers
(DBN)

A Patriotic Cerberus?
(DBN)

On Washington A Clunker of a Program?
(DBN)

'Cash for clunker' interest slips
(DBN)

New York dealers are misleading buyers with ads about the Cash for Clunkers program
(DBN)

Delphi CEO Steve Miller's attempt to save auto supplier was sideswiped by credit crisis, recession
(DBN)

Economic clunker for clunkers?
(DBN)

GM claims unprecedented mileage rating for Volt
(DBN)

Bank Asks That It Be Allowed To Take Over Former Prebul Car Headquarters
(DBN)

AlixPartners Releases Highlights of Comprehensive Annual Automotive Study
(DBN)

Crisis threatens Russian auto legend
(DBN)

Worst may be ahead for Europe's carmakers
(DBN)

______________

Banking:

Despite TARP billions, bank prospects are iffy, panel finds
(DBN)

Bank of America faces more bonus embarrassment
(DBN)

Who Told Ken Lewis Merrill Was Safe To Buy?
(DBN)

Judge blocks Bank of America's $33m payment to settle Merrill
(DBN)

Now We Know Who Approved The Outrageous Bonuses At Merrill Lynch
(DBN)

Thrifty Bank of America is worse than bonus-mad Wall Street
(DBN)

Blackstone, US Bancorp, Ford May Bid for Ailing Guaranty Bank
(DBN)

Norwegian Cities Accuse Citigroup Of $200M Swindle
(DBN)

Citigroup will make TARP progress through sales
(DBN)

The gift of TARP keeps giving at Citigroup
(DBN)

Is Citi Lending Enough?
(DBN)

TARP Panel Says Smaller Banks May Need Fresh Capital
(DBN)

______________

Hockey:

NHL reacts to ruling by judge in Coyotes' case
(DBN)

Jim Balsillie Getting Blackballed By NHL Again
(DBN)

More owner drama boils up from Phoenix
(DBN)

Coyotes ask for Sept. 15 sale date
(DBN)

Creditor cuts deal with Reinsdorf
(DBN)

US judge gave Balsillie a clearer shot at his NHL goal
(DBN)

Suddenly, Balsillie's bid dealt a blow
(DBN)

______________

Chemicals:

Lyondell DIP loan request granted; examiner sought
(DBN)

Bankruptcy judge OKs bonuses at Lyondell top
(DBN)

______________

Newspapers:

Bonus for the bankrupt? Michaels says yes
(DBN)

Newspaper union to see Tribune bonus information
(DBN)

Philly newspapers hope $35M will end bankruptcy
(DBN)

Bankruptcy Judge: Papers, Banks Both Swinging for Fences
(DBN)

Shake-up at the top for Sun Newspapers
(DBN)

Judge postpones major Coyotes rulings
(DBN)

McClatchy Extends Wage Halt, Enforces Unpaid Leave
(DBN)

______________

Manufactured Housing:

Cavco wins Fleetwood's manufactured housing division
(DBN)

______________

Aviation:

Southwest Looking for New Frontier
(DBN)

Loss-making airlines in for a safety check
(DBN

Massive Price Cuts Keep People Flying
(DBN)

Continental gives passenger rights bill a boost
(DBN)

Law Prof Aboard Plane Parked for 6 Hours Joins Airline Reform Advocates
(DBN)

SAS Reports Seventh Straight Quarterly Loss, Will Cut 1,500 More Jobs
(DBN)

______________

Fashion:

Escada to File for Insolvency After Bond Swap Fails
(DBN)

______________

Tax:

Liechtenstein in German tax talks
(DBN)

UK in historic Liechtenstein tax offer
(DBN)

Liechtenstein reaction: tax agreements are ineffective
(DBN)

______________

Food/Drink:

Restaurants woo diners with deals
(DBN)

Eurofresh can seek votes on Ch. 11 plan
(DBN)

______________

Defaults:

Loan defaults on rise despite uptick
(DBN)

______________

Enron:

Enron debacle comes to the stage
(DBN)

______________

DIP Finance:

CoBank, Rabobank to lead Pilgrim's Pride exit financing
(DBN)

______________

Lehman:

Lehman Contract to Test Billions of Dollars of Swaps
(DBN)

Lehman Case Could Impact Global CDO Payouts
(DBN)

Lehman verdict will decide future of securitization
(DBN)

______________

 

New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings
(DBN)

Bankruptcy Jobs:

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

This Week's Poll:

The recession is ending, but bankruptcy lawyers will remain busy for ____ years.

Click here to vote and see results

Last Week's Poll Results (GM-Gov't)

____________

The Changing Face of Bankruptcy
(DBN)

Finance:

CIT shares drop after bankruptcy warning
(DBN)

CIT Says Bondholders Won't Push for Bankruptcy
(DBN)

______________

Art:

Instant Art on the Auction Block
(DBN)

______________

Gambling:

Business booming at Greektown, not quite bust at other Detroit casinos
(DBN)

Recession hits Riviera hard in second quarter
(DBN)

Even as Pittsburgh's casino opens, the gaming blossom shrivels
(DBN)

______________

Solar:

DayStar: The End Of The Road?
(DBN)

______________

Retailing:

Serial suer's latest target: Eddie Bauer
(DBN)

Pittsburgh retail vacancies rise
(DBN)

Judge lets General Growth units stay in bankruptcy
(DBN)

______________

Insurance:

MBIA shares slide after analyst downgrade
(DBN)

Huge med-mal insurer raises red flag
(DBN)

______________

Telecoms:

Harper says no new protectionism in wake of Nortel auction
(DBN)

Ottawa to examine Nortel-Ericsson deal, Harper says
(DBN)

______________

Sports:

Group trying to force Arena Football into bankruptcy
(DBN)

______________

Video Games:

Rumor: Bionic Commando developer, Grin, facing bankruptcy
(DBN)

______________

Tech:

Psystar bankruptcy dismissal sets stage for Apple suit
(DBN)

______________

Municipalities:

JeffCo delegation OKs occupational tax
(DBN)

Ala. governor weighs special session on county tax
(DBN)

23 states cut back on prisons
(DBN)

______________

Mining:

Asarco bidders renew rivalry
(DBN)

Sterlite, Grupo Mexico raise ante in Asarco bidding war
(DBN)

______________

Health Care:

Report: $1.2 Trillion in Health Spending Wasted Every Year
(DBN)

Medicare proposal would hit hospitals
(DBN)

Broken tubes
(DBN)

Specter: Protests not 'representative of America'
(DBN)

______________

Distressed Investing:

Distressed deals hit $84.4B
(DBN)

______________

Cosmetics:

Paula Dorf Cosmetics bankrupt
(DBN)

______________

Hotels:

Fed Grapples With Extended Stay
(WSJ: separate paid subscription required)

______________

Corporate Governance:

Delaware Amends General Corporate Law
(DBN)

Changing the Guard in the Delaware Chancery Court
(DBN)

______________

Religion:

Churches Squeezed by Recession
(WSJ: separate paid subscription required)

______________

Apparel:

Liz Claiborne posts wider-than-expected loss
(DBN)

______________

Oil/Gas:

SemGroup Energy Partners sees cloudy future
(DBN)

IEA trims 2010 oil demand growth, recovery patchy
(DBN)

Oil Falls for Fifth Day on Forecast US Inventories Expanded
(DBN)

______________

Ethanol:

Pacific Ethanol bleeds 2Q red ink
(DBN)

______________

UK:

In precedent-setting ruling, IMO Carwash allowed to renegotiate debts
(DBN)

UK Unemployment Climbs to Highest Level in 14 Years
(DBN)

BT pension fund invests in distressed debt
(DBN)

No criminal inquiry into the men who made fortunes from MG Rover
(DBN)

JPMorgan Says It Told UK FSA About Pooling Error
(DBN)

Corporate bond windfall for the BoE
(DBN)

BDO's MG Rover report to go public on 11 September
(DBN)

SFO backs off from MG Rover probe
(DBN)

______________

EU:

A&O insolvency litigation partner joins Nauta in Brussels
(DBN)

European Industrial Production Unexpectedly Declines
(DBN)

Estonian Economy Shrank Record 16.6% Last Quarter
(DBN)

______________

Canada:

Personal bankruptcies climb 54.3 per cent in June
(DBN)

Falling business insolvencies continue in year leading up to June: OSB
(DBN)

Toronto housing starts drop
(DBN)

Stronach firm faces complaint by minority holders
(DBN)

Quebec's Caisse Loses C$5.7 Billion on Real Estate
(DBN)

Brookfield's $4.9-billion bet on the bottom
(DBN)

______________

Germany:

Escada Plummets as Bankruptcy Looms on Last Day of Bond Exchange
(DBN)

______________

Japan:

Japan Economy Probably Expanded for First Time in Five Quarters
(DBN)

Japanese prices in record decline
(DBN)

______________

Australia:

Australia's Economy to Skirt Recession, BIS Shrapnel Forecasts
(DBN)

______________

Latin America:

Itau's Profit Declines as Defaults Surge; Shares Fall
(DBN)

______________

Iceland:

When the Dutch and British governments clinched Iceland's agreement to reimburse savers in Icesave, they did not count on the ire of Icelandic voters
(DBN)

Iceland is being blackmailed
(DBN)

______________

Netherlands:

Bankruptcies double in the Netherlands
(DBN)

______________

 

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