August 25, 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:

Has the Clock Struck 12 on the Billable Hour?
(DBN)

The Billable Hour Debate Is Not About the Billable Hour
(DBN)

How some companies are getting a better handle on outside legal bills
(DBN)

WilmerHale Leader Is the Latest Fixed-Fees Convert
(DBN)

Skadden Arps Slashes Law School Hires for Summer of 2010
(DBN)

Can You Pay My Bills?
(DBN)

SEC Blames Law Firms for BofA's Failure to Disclose Merrill Bonuses
(DBN)

Lehman, Chrysler, GM: The fallout
(DBN)

Under Attack, Should the Billable Hour Be Concerned For Its Safety?
(DBN)

Skadden Halves 2010 Summer Program, Plans Offers for 95% This Year—For 2011
(DBN)

2009 Summer Associate Survey Results
(DBN)

Cleary Gottlieb Advises on BBVA Takeover of Guaranty Bank
(DBN)

Linklaters leads as UK High Court rejects Lehman repayment plan
(DBN)

A Candid Conversation With Former AG Gonzales
(DBN)

Greenberg Traurig's Bankruptcy Group Relocates to Gallagher & Kennedy
(DBN)

Cleary advises on billion-dollar takeover of stricken US bank
(DBN)

Troutman, Florida Firm on Taylor Bean's Bankruptcy
(DBN)

Foley & Lardner Sued for Allegedly Revealing Trade Secrets
(DBN)

Yolanda Young Amends Complaint, Intends To Seek Class Certification Against Covington
(DBN)

Law firms' pro bono efforts see sharp rise in recession
(DBN)

Legal Research Revisionism
(DBN)

Can a chief executive whose company issues misleading disclosures get away with it by asserting the lawyers did it? Yes.
(DBN)

Lawyers find a new following via Twitter
(DBN)

Attorney's Whistleblower Suit Against Former Firm Reinstated
(DBN)

Midsize Firm Hoping for Kentucky Rain in Merger
(DBN)

Network of Small, Midsize Firms Look for Opportunity in Hard Times
(DBN)

Mug Shots Of The Week
(DBN)

Saying 'I'm Sorry' Influences Jurors
(DBN)

Law Firm Fields 12-Member Women’s Mini-Triathlon Team
(DBN)

How to Protect Law Firm Data from Hack Attacks
(DBN)

Law student should buy a used car
(DBN)

Prosecutor Named to Probe CIA Abuses
(DBN)

John Durham, the Man Picked to Investigate the C.I.A.
(DBN)

Say What?!
(DBN)

______________

Judges:

Rehnquist Papers: Bush Beats Kerry, Breyer Pays Thomas
(DBN)

Justice O'Connor Presents the Supreme Court, Middle School Edition
(DBN)

Rakoff on BofA/SEC Kerfuffle: ‘Everything Needs to be Public’
(DBN)

Jones to replace Sandoval on NV federal bench
(DBN)

Bad Judges Lose Bid to Keep Plea Deal
(DBN)

2 Ex-Judges May Be Tried in Sentencing of Juveniles
(DBN)

The Private Side of a Supreme Court Justice
(DBN)

Federal Judge in Milwaukee Says No to New Criminal Cases
(DBN)

The Strange Tale of a Civil (Only)Judge
(DBN)

The Eyes of the Law: Justice Sotomayor at Trader Joe's
(DBN)

______________

Wall Street:

US Stock-Index Futures Advance
(DBN)

World Stocks Slide Amid Caution, China Off 2.6 Pct
(DBN)

Six Months on, (Almost)Everything Up
(DBN)

Picking Through Post-Bankruptcy Stocks
(DBN)

Arrest Over Software Illuminates Wall St. Secret
(DBN)

High-frequency trading has many defenders, but critics say it's killing the market
(DBN)

The Rage Over Goldman Sachs
(DBN)

Report: Select Goldman Clients Advised Better
(DBN)

______________

Private Equity:

JPMorgan's Former Private Equity Arm Is Minting Cash
(DBN)

______________

Layoffs:

National and State by State Unemployment Rates
(DBN)

Waiting for Work In the Silent Woods
(DBN)

Unemployment in California hits post-World War II high
(DBN)

Shocking Unemployment Numbers
(DBN)

Prevent workplace deaths. Layoff workers
(DBN)

Disgruntled French Workers End Threat to Poison Seine
(DBN)

______________

Financial Literacy:

Teaching Teens About (Credit)History
(DBN)

______________

Tax:

The Ex-Wives Club of UBS Tax-Evaders
(DBN)

UBS May Take Years to Recover From Loss of Clients Fleeing Tax Crackdown
(DBN)

KPMG predicts top tax rate to rise across the globe
(DBN)

9th Circuit Rules that Tax Assessed on a Post Chapter 13 Filed Tax Return for a Prepetition Year is a Prepetition Debt
(DBN)

IRS Could Target Off-Shore Hedge-Fund Investors Next
(WSJ: separate paid subscription required)

A Tax Break for Selling Toxic Assets?
(DBN)

______________

Private Equity:

Wipeouts hurt but shouldn't kill private equity
(DBN)

______________

Corporate Reform:

US senator wants broad SEC market review
(DBN)

______________

Bankruptcy Crimes:

Jackson couple pleads guilty to fraud charges
(DBN)

Government Releases Sentences in Bankruptcy Fraud Initiative
(DBN)

WVa bankruptcy fraud crackdown nets 4 convictions
(DBN)

______________

Broadcasting:

Sinclair In Tentative Deal With Noteholders
(DBN)

Hallmark Hurt - Big-name channel is facing big-time problems
(DBN)

______________

Municipalities:

CA off Moody's credit watch list; redemption of IOUs on track for Sept. 4
(DBN)

______________

Securitization:

Wall Street Addresses Debt With an Old Trick: Repackaging Bad Loans
(DBN)

______________

Rail:

Is the economy really getting better? Railroad traffic says no
(DBN)

______________

Trucking:

Trucking Bankruptcies Plunge 62 Percent
(DBN)

______________

Tech:

Shattered Wurld: After a promising debut and forecasts of an even better future, an Internet technology company unravels, stunning investors
(DBN)

______________

Credit Cards:

Credit Card Reform: While One Hand Gives, the Other Adds Fees
(DBN)

Moody's: Charge-Off, Delinquency Rates Drop In July
(DBN)

Data Hints Consumers Handling Credit Cards Better
(DBN)

______________

Baseball:

Bankruptcy Judge to Expedite Review of Cubs Sale
(DBN)

______________

 

 

Economy:

Obama to nominate Bernanke to 2nd term
(DBN)

Judge: Federal Reserve Must Release Reports on Emergency Loans
(DBN)

Fed Starts Rollback Of Rescue Efforts
(DBN)

Home Prices in U.S. Probably Fell at Slower Pace; Consumer Confidence Rose
(DBN)

Central bankers stress not rushing for exits
(DBN)

Some call it recovery
(DBN)

Budget Office: Shortfalls of $9.1 Trillion in Next 10 Years
(DBN)

Homelessness grows in shadow of White House
(DBN)

Economic Stress Index
(DBN)

Economy Tracker Map
(DBN)

Recovery Index
(DBN)

______________

Real Estate:

Mortgage Company Taylor Bean Files For Bankruptcy Protection
(DBN)

TBW ends up in even more trouble
(DBN)

Delinquent Mortgages, Foreclosures Soar, Industry Group Says
(DBN)

July Mortgage Approvals At 17 - Month High
(DBN)

Fewer Delinquent Borrowers Catch Up
(DBN)

Problematic mortgage servicers slow loan modifications
(DBN)

Mortgage Relief That's No Help To Homeowners
(DBN)

Citi boosts mortgage help as delinquencies rise
(DBN)

Will Congress Extend the First-Time Home Buyer Tax Credit?
(DBN)

Mortgage Litigation Increased 54% in Q209
(DBN)

Back Into Real Estate, Slowly
(DBN)

‘Cash Is King’ in Market for Foreclosures
(DBN)

Asking You to Buy a Couch, Now That You Can’t Sell the House
(DBN)

New Trouble for Las Olas Centre
(DBN)

Is tumbling economy to blame for recent spate of Detroit fires?
(DBN)

Some lenders are telling seniors no on deferring taxes
(DBN)

Austin: Miles and miles of office space
(DBN)

Decline In CRE Sectors Shows Signs Of Deceleration
(DBN)

Chicago-area home sales improve in July, but median price drops
(DBN)

Sacramento-area home sales reach 2009 high in July
(DBN)

California tax credit expires, home permits sink
(DBN)

New FL law gives tenants more clout in cases of foreclosure
(DBN)

London's real estate recovering faster than NYC's
(DBN)

Nearly One in Two Mortgages in Ohio is Underwater or Close to it
(DBN)

New Homebuyers Can't Compete With Speculators Offering All-Cash
(DBN)

Low appraisals take hit for hurting home sales
(DBN)

More On Substantive Consolidation Of REITs And Other Bankruptcy Issues Facing REITs
(DBN)

_____________

Autos:

Auto suppliers 'healthier than anticipated,' Wall Street analyst says
(DBN)

Car dealership closures have aesthetic, economic impact
(DBN)

GM to drop corporate logo from vehicles
(DBN)

General Motors Advisers Said to Push Board to Weigh Keeping Opel Control
(DBN)

Race Is On to File Clunker Deals
(DBN)

Clunkers: Dealers get ready for the 'hangover'
(DBN)

Gov't Extends Deadline for Clunkers Paperwork
(DBN)

'Clunkers' Computers Hinder Applications, Dealers Say
(DBN)

42 million clunkers to go
(DBN)

US government to leave Opel choice to GM
(DBN)

Opel Workers to Fight to End GM Control, Schild Says
(DBN)

GM Board Wants Control of Opel Patents in Deal
(DBN)

GM seeks $4.3 bln financing to keep Opel
(DBN)

Political stakes high in GM, Opel saga
(DBN)

German unions warn of 'spectacular measures' - force GM's hand
(DBN)

Rocky Opel auction limits GM's options
(DBN)

Can GM Sell Opel and Not Fully Walk Away?
(DBN)

GM's Opel Decision Is Likely Next Month, Irwin Says
(DBN)

Germany's Steinmeier says Opel meeting taking place
(DBN)

______________

Fraud:

Is Bernie Madoff Dying of Cancer?
(DBN)

Madoff Cancer Report Is Contradicted
(DBN)

Madoff Aide Dipascali Should Forfeit Goods, US Says
(DBN)

AIG Balks at $8.5 Million Claim in Madoff Case
(DBN)

Allen Stanford must stay in jail-court
(DBN)

Stanford case lawyers disagree about altercation
(DBN)

Names of Marc Dreier fraud victims revealed
(DBN)

Judge says corporate funds can't be used to defend principals in BBC Equities case
(DBN)

Woman Charged in Professional Football Ponzi Scheme
(DBN)

Beverly Hills Fund Manager Admits to Ponzi Scheme
(DBN)

______________

Health Care:

Fraser Institute spins bankruptcy facts
(DBN)

Medical bill induced bankruptcies ?
(DBN)

Dr. Desai's wife files for bankruptcy
(DBN)

Desai's wife provides details of clinics' finances
(DBN)

Foreclosures and mental health
(DBN)

Former Administrator Pleads Guilty In Haven Healthcare Case
(DBN)

Health Care Insurers Set To Win Big From Overhaul
(DBN)

Hospitals See Profits in White House Deal
(DBN)

Who Are the Uninsured?
(DBN)

Calm, but Moved to Be Heard on Health Care
(DBN)

Competition lacking among private health insurers
(DBN)

______________

Celebs:

Angry Pitcher Becomes Hedgie
(DBN)

Former athletes' adviser charged in Ponzi scheme
(DBN)

Michael Vick Shows Con Game of Second Chances
(DBN)

Michael Jackson's Death: It WAS Homicide
(DBN)

______________

SPEs:

General Growth Properties and the Boundaries of Bankruptcy Remoteness
(DBN)

______________

Accounting:

KPMG lines up £260m office move in 2010
(DBN)

PwC in court over audit of Madoff feeder funds
(DBN)

BDO may face legal action over Keydata
(DBN)

E&Y is Freezing Pay Because it's Fair
(DBN)

PwC Layoffs Continue to Mystify
(DBN)

Some Might Call it Revenge, Others May Call it Justice
(DBN)

______________

Newspapers:

What's left after a newspaper bankruptcy: 20 cents on the dollar
(DBN)

Battle to control Creative Loafing is heating up
(DBN)

______________

Retailing:

Quick salvation as investors buy Cincinnati-based Berean chain in Ch. 11
(DBN)

Charlotte Russe latest retailer bagged by PE
(DBN)

______________

Hockey:

Media savy severely lacking in Coyotes saga
(DBN)

Hockey titans air dirty laundry
(DBN)

Jim Balsillie sets deadline for Coyotes bid
(DBN)

______________

Building Materials:

Court Approves Dayton Superior Disclosure Statement
(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:

Are bankruptcy lawyers compensated at market rates as the Bankruptcy Code intends?

Click here to vote and click here to see results

Last Week's Poll Results (Have Sales Replaced Reorgs)

______________

Bankruptcy Reform:

The Bankruptcy Bailout (PDF Written Materials)
(DBN)

The Bankruptcy Bailout (Audio Download)
(DBN)

______________

Banking:

Bank of America Defends Its Settlement
(DBN)

Bank of America's Bizarre Defense of Merrill's Bonuses
(DBN)

BofA to settle Merrill lawsuit for $150 million
(DBN)

Bank of America Says SEC Fine Is Ample Amid 'Powerful Defenses'
(DBN)

Taylor Bean Files for Bankruptcy, in Talks With FDIC
(DBN)

Colonial Bank's fall may be ominous sign
(DBN)

Who's next on the FDIC watch list?
(DBN)

US Banks Face More Loan Losses, Suntrust Chief Says
(DBN)

Union leader Hughes to head New York Fed bank board
(DBN)

Gringos flat-footed as BBVA two-steps to Guaranty
(DBN)

Analyst Bove sees 150-200 more bank failures
(DBN)

FDIC could easily seize 150, but not 300
(DBN)

Lawsuit accuses Wells Fargo banking unit of using flawed software to cut home-equity lines
(DBN)

A finance guy takes on Wells Fargo
(DBN)

______________

Bankruptcy Statistics:

US Business bankruptcies up 64% from '08
(DBN)

Chapter 7 Business Bankruptcies Up Nearly 38%
(DBN)

______________

Labor:

Labor Injunctions in Bankruptcy
(DBN)

______________

Magazines:

Reader's Digest files prearranged bankruptcy
(DBN)

______________

Software:

Appeals court overturns decision in SCO Group, Novell case
(DBN)

The SCO zombie wins one
(DBN)

______________

Corporate Governance:

Court of Chancery Awards Advancement Fees for Executive to Pursue Compensation Claims, and Rejects Reasonableness Argument as Limit on Advancement Obligation
(DBN)

______________

Distressed Investing:

Guggenheim Looks To Capitalize On Distressed VC Deals
(DBN)

______________

Food/Drink:

Bankruptcy strikes SoHo restaurant
(DBN)

Back to free water: Sales of bottled water finally start to tank
(DBN)

______________

Personal Finance:

With less to spend, consumers are buying more warranties to protect their purchases
(DBN)

Ten Odd Lessons the Recession Has Taught Us
(DBN)

______________

Arts:

Stamford Center for the Arts expected to emerge from bankruptcy
(DBN)

______________

Aviation:

Flying in the face of convention
(DBN)

______________

Tourism:

Caribbean tourism hit by recession
(DBN)

______________

Movies:

Michael Moore is back, and this time he's taking on Wall Street
(DBN)

______________

Debt Collection:

The Benefits of Being Litigious
(DBN)

______________

Shipping:

Stalking Horse Not Wanted: U.S. Shipping Rebuffs Bid, But Why?
(DBN)

______________

Lehman:

Citadel's big Lehman loss
(DBN)

Citadel fund files $470 mln claim against Lehman
(DBN)

How Britain could have saved Lehman Brothers
(DBN)

______________

Compensation:

Bank Case on Bonuses Shifts Focus to Lawyers
(DBN)

Sarkozy Will Urge BNP, SocGen to Curb Bonus Payouts for Bankers
(DBN)

______________

Gambling:

Station's legal battle heats up in bankruptcy case
(DBN)

Black Gaming may seek bankruptcy protection
(DBN)

______________

Sports:

What does possible bankruptcy mean for Rattlers season ticket holders?
(DBN)

______________

UK:

UK Mortgage Approvals Increased in July
(DBN)

Royal Reasons for Overlooking Financial Meltdown
(DBN)

Lending to business continues to fall
(DBN)

______________

EU:

ECB's Trichet warns on complacency as economy heals
(DBN)

______________

Israel:

Bank of Israel raises key rate on inflation worries
(DBN)

______________

Asia:

Asia Debt Holders Squirm
(WSJ: separate paid subscription required)

______________

Germany:

Quelle heiress likely to lose everything in Arcandor liquidation
(DBN)

In Wake of Bankruptcy, German Executive Faces 2 Inquiries
(DBN)

Government Spending Lifted Germany Out of Recession
(DBN)

______________

Mexico:

More Mexicans going hungry in the recession
(DBN)

Guide to Mexican Bankruptcy Law
(DBN)

______________

Russia:

He once said anyone who didn't make a billion $ was "a loser" - Now this Russian businessman is about to go bust
(DBN)

Russia c.bank lends 70 bln roubles to banks
(DBN)

______________

Australia:

Govt wants bankruptcy threshold lifted
(DBN)

New bankruptcy rules to ease debt burden
(DBN)

Babcock & Brown to be liquidated
(DBN)

Bankruptcy law overhaul 'will hurt small business'
(DBN)

______________

 

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. Click here for details  Feel free to contact us with any questions.

Passwords/Subscriptions
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 clicking here. 30-day passwords are not available to readers who have previously had a password, even if the password was associated with a different email address used by the reader. Refunds are not available after purchase. Readers who wish to change their passwords should click here. Readers who have forgotten their password should click here.

Adding Your Email Address To The Distribution List
If you would like to start receiving The Daily Bankruptcy News by email each day, click here, 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 The 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 which is on our distribution list (if receive the publication forwarded from an older email address, you will need to contact us as described below for help removing that older address from our distribution list). 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, contact us by clicking here for help.

The 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).