December 23, 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

The Daily Bankruptcy News will not publish on December 24 and 25, 2009

Law:

Protecting a Privilege
(DBN)

Privilege and Work Product
(DBN)

No New Partners Being Named at Cravath
(DBN)

Associate Bonus Watch: Quinn Emanuel (Plus an analysis of their new partners.)
(DBN)

Hogan & Hartson: Bonus and Salaries for the New Year
(DBN)

K&L Gates Salary Cut Follow Up
(DBN)

Associate Bonus Watch: Wachtell Lipton Bonuses Go Down Again
(DBN)

Salary Thaw Structure
(DBN)

The Rollercoaster Oughts
(DBN)

Winston Lawyer Accepts Spot on CIT Board
(DBN)

Iqbal: Restoring Access to the Courts
(DBN)

Gibraltar Bank's role in Rothstein scheme under scrutiny
(DBN)

Dechert Sued Over 'Counsel' Role in Dreier Loan Deal
(DBN)

Our Ponzi Nation: Will Dechert End Up Holding the Bag for Marc Dreier?
(DBN)

The Thrill Is Gone: Firm Leaders Say Lawyering Is Less Fun Than It Used to Be
(DBN)

Sanctions Ordered Against Goodwin Procter Over Delay in Releasing E-Mail
(DBN)

Rudy Giuliani Goes For Dollars Over Public Service
(DBN)

Tiger Woods' Travails a Bounty for Barristers
(DBN)

Law Firm Woos Clients With Monthly Subscription Fees
(DBN)

IP Star's Lateral Move Triggers a Flurry of Mixed Messages
(DBN)

More than a Dozen Lawyers Leaving Dickstein for Kasowitz
(DBN)

WI: Foley adds prominent N.Y. bankruptcy attorney
(DBN)

CA: Walker's law practice no longer part of bankruptcy proceedings: Next move is unclear, though he is expected to surrender law license
(DBN)

Attorney Can Seek to Recover Fees Despite Faulty Retainer, Panel Says
(DBN)

Acquitted of Money Laundering, Defense Attorney Sets Sights on Legal Fees
(DBN)

Hundreds of Lawyers Rally to Protest Ariz. Sheriff’s Battle Against Judiciary
(DBN)

Five Gifts For Lawyers
(DBN)

Lawyers Behaving Badly: The Strange Story of John J.P. Howley
(DBN)

Tonight We're Gonna Party Like It's 2009: Go Straight Home, Pull the Blankets Over Our Heads and Cry
(DBN)

"A Law School Carol" Argues Today's Lawyer Wannabes Don't Stand a Ghost of a Chance
(DBN)

Say What?!
(DBN)

______________

Judges:

A Judge’s Advice to New Lawyers: Don’t Be a Jerk
(DBN)

Ex-NY Judge Gets 27 Months in Jail For Extorting Bribes From Lawyers
(DBN)

Houston Clerk Slammed by Federal Judge in Press Access Litigation
(DBN)

______________

Wall Street:

European Stocks Climb to 14-Month High; US Futures Advance
(DBN)

Stock Index Futures Signal Extended Rally
(DBN)

Stocks near 14-month highs
(DBN)

Repaying U.S. and Reaping Bounty in Fees
(DBN)

Ten Years After
(DBN)

______________

Layoffs:

National and State by State Unemployment Rates
(DBN)

Ford Offers Buyouts to 41,000 Workers
(DBN)

Calif. Unemployment Rate Down, So Are Jobs
(DBN)

Conn. Dept of Labor servers overloaded with unemployment claims
(DBN)

Does Unemployment Steer Personal and Corporate Bankruptcies?
(DBN)

Drop In Mass Lay-Offs Masks Trouble At Small Businesses
(DBN)

______________

Radio:

Citadel Broadcasting: court grants 1st-day motions
(DBN)

______________

Retailing:

Shrinking Credit Threatens Almost $9 Billion in Holiday Sales
(DBN)

Ackman Says General Growth Shares Are Undervalued
(DBN)

OH: Shoppes of Kenwood files Chap. 11
(DBN)

Shuttered Snyder's stores draw suit against survivors
(DBN)

Sears Wins Dismissal of Class Action Over Kmart Merger
(DBN)

______________

Property of the Estate:

Hidden Island treasure
(DBN)

______________

Art:

End of golden era of bank art collecting?
(DBN)

______________

Municipalities:

Cities Where Americans Are Getting Richer
(DBN)

Pennsylvania Pensions in Crisis by 2012
(DBN)

N.J. Leads Municipal Bond Downgrades as Aid Shrinks
(DBN)

Decade Put Arizona Upside Down
(DBN)

Arizona close to bankruptcy
(DBN)

City Of Chicago To Shut Down To Save Cash
(DBN)

City's 5-year plan booed
(DBN)

Obamacare Bankrupting States
(DBN)

______________

Accounting:

Layoff Watch '09: Catching up with Crowe Horwath
(DBN)

Ernst & Young Restructuring Plans Affect North Central, Pacific Regions
(DBN)

Ex-Bally CFO and E&Y Auditors Charged
(DBN)

An Alternative to the Bob Dylan Christmas Album
(DBN)

More Ernst & Young Restructuring Details
(DBN)

______________

Fraud:

Decade's 10 Biggest Financial Crimes
(DBN)

Judge Opens Web Site for Ponzi Scheme Victims
(DBN)

Mets Entity Challenges Madoff Trustee's Claim Method in Court
(DBN)

The Financial Villain of the Decade
(DBN)

Raj Pleads Not Guilty, But What About SAC Capital's Cohen?
(DBN)

Rajaratnam Lawyer Opposes Request for Summer Trial on Galleon
(DBN)

Stanford again seeks bail; lawyers say he risks 'breakdown'
(DBN)

Gas Traders Get Long Terms for Fraud
(DBN)

Indiana Political Donor Faces Suits, Probes on Ponzi Claims
(DBN)

______________

 

 

 

Economy:

Bureau of Economic Analysis revises third-quarter real GDP downward
(DBN)

CFOs Gloomy on 2010
(DBN)

Why 2010 Looks So Dicey
(DBN)

Minneapolis Fed: Slow Recovery in 2010
(DBN)

Volcker goes on the offensive
(DBN)

Stiglitz: US Will Crash Again without Stimulus
(DBN)

Geithner Says There Will Be No ‘2nd Wave’ Crisis
(DBN)

AIG needs two years to repay aid
(DBN)

New Lost Middle Class in America
(DBN)

NY Fed Looks to Toughen Funding Standards to Fend off Next Bubble
(DBN)

Thousands May Incorrectly Be Using Stimulus Tax Breaks
(DBN)

Signs of Revival in Heartland
(DBN)

Economic Stress Index
(DBN)

Economy Tracker Map
(DBN)

US Debt Clock
(DBN)

Recovery Index
(DBN)

Bailout Tracker
(DBN)

______________

Real Estate:

If billionaires don't feel guilty about walking away from their debts, should homeowners?
(DBN)

Mortgages Keep Falling Behind in Q309
(DBN)

More Prime Mortgage Defaults in 3Q
(DBN)

Nice Home. Where’s the Rest of It?
(DBN)

Home Sales Jump More Than Expected
(DBN)

November existing-home sales surge
(DBN)

Mortgage Firms Grapple with New Disclosures
(DBN)

Cities Where Homes Are Losing Most Value
(DBN)

Home Resales in West Post 30 Percent Annual Gain
(DBN)

Cities Recovering From The Foreclosure Crisis
(DBN)

Loan Program Delays Worse for Those Trying Not to Fall Behind
(DBN)

At Top Subprime Lender, Policies Invited Fraud
(DBN)

Nearly 40% of Mortgages are now FHA
(DBN)

A Hopeful Sign for Manhattan’s Shaky Office Market
(DBN)

Tumbleweed offers plan to deed properties to biggest creditor
(DBN)

Freddie Director To Step Down in March
(DBN)

Appaloosa Invests $2B in Distressed CMBS
(DBN)

Investor-Owned Mortgages Have High Re-Default Rates
(DBN)

Fitch Stays Negative on REITs into 2010
(DBN)

Regulator probing troubled apartment investor
(DBN)

What Price Deadbeat?
(DBN)

Residential Lending Credit Losses Worsen as Unsustainable Government Support Proves... Unsustainable -
(DBN)

British bankruptcy leaves New Yorkers in limbo
(DBN)

As More Landlords Stagger Under Debts, Thousands of Tenants Face Abandonment
(DBN)

Investors Demand $21M from Pacificor
(DBN)

70 Investors Show Interest in $11bn Thornburg Portfolio
(DBN)

_____________

History:

Lessons from 1926 US Housing Collapse
(DBN)

______________

Student Debt:

The Worst Debt You Can Have: Student Loans
(DBN)

Oppenheimer to pay Illinoisans $77.2M
(DBN)

______________

Receivers:

Case Makes Good Point About State Turnover Receivers
(DBN)

______________

Oil/Gas:

Analysts: Oil to be Up 20% in 2010
(DBN)

WI: Creditors seek personal bankruptcy for Bulk Petro owner
(DBN)

Flying J selling energy unit to El Paso for $103.5 mln
(DBN)

______________

Ethanol:

Iowa firm seeks to block ethanol plant sale
(DBN)

Fairbank ethanol plant put into bankruptcy
(DBN)

______________

Banking:

2009: The Year of the Failed Banks
(DBN)

Taking Their TARP Time
(DBN)

Obama Tries to Rally Smaller Lenders
(DBN)

Citigroup Untarped
(DBN)

Citigroup Denies That Hackers Stole Millions
(DBN)

Brisk Bidding for Failed-Bank Loans
(WSJ: separate paid subscription required)

Report cites bankrupt firm's violations
(DBN)

Marijuana-Reeking Tour Bus, Red Ferrari Are FDIC’s Crisis Booty
(DBN)

Banks with 'political ties got bailouts'
(DBN)

______________

Swimming Pools:

Latham International files for bankruptcy; $239.4M in debt
(DBN)

______________

Distressed Investing:

Is David Tepper The John Paulson of '09?
(DBN)

______________

Lehman:

Lehman Pays 230 Derivative Traders $50 Million in Bonuses
(DBN)

Lehman's special payouts set to spark fresh bonus row
(DBN)

______________

RVs:

Lazy Days drives out of bankruptcy with Wayzata Investment help
(DBN)

______________

Food/Drink:

Penn Traffic asks court's OK for liquidation sales at P&Cs
(DBN)

______________

Trucking:

Arrow Trucking Frozen Because Of Bankruptcy?
(DBN)

Bankruptcy Strands Truckers
(DBN)

US Trucking Operators YRC And Arrow Struggle In Difficult Times
(DBN)

______________

Corporate Reform:

U.S. Chamber, banks fight consumer bill
(DBN)

What's Really Driving the Crackdown on Financial Criminals?
(DBN)

______________

Chemicals:

Huntsman withdraws Tronox motion
(DBN)

Tronox Financing Plan Approved By Courts
(DBN)

______________

 

New Bankruptcy Opinions
(1 new opinion 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)

______________

Bankruptcy Statistics:

Small-business bankruptcies rise 81% in California
(DBN)

Bankruptcy filings in WA up 32% over past year
(DBN)

______________

Autos:

Bankruptcy can do wonders for your balance sheet, and there's a lot of pent-up demand out there
(DBN)

Nearly 1,500 Car Dealership Closed in 2009
(DBN)

The Odds Against A Saab Deal
(DBN)

Ford shares hit highest price in 4 years
(DBN)

Used car warranty company files for bankruptcy protection
(DBN)

Ford Reaches Deal to Sell Volvo to Chinese Automaker
(DBN)

Saab Auto's 3,500 Workers May Compete for Four Jobs
(DBN)

______________

Building Materials:

Arch Aluminum to sell assets for $62 million
(DBN)

______________

Personal Finance:

Higher Incomes, Less Happiness
(DBN)

______________

Metals:

Bankruptcy court approves sale of Grede Foundries
(DBN)

______________

Health Care:

Why Require People to Buy Health Insurance?
(DBN)

Weighing Medical Costs of End-of-Life Care
(DBN)

Businesses Brace for Health Bill's Costs
(DBN)

Health care costs account for 62 percent of US bankruptcies
(DBN)

Suit seeks more time to reopen hospital
(DBN)

Once Flying High, Canopy Financial Now Peddling Assets For $6.1M
(DBN)

Sunwest case soon may hit turning point
(DBN)

______________

Tax:

Hunting Tax Dodgers, Hitting Banks
(DBN)

______________

Hollywood:

Fate of Tim Allen comedy hangs on Tampa bankruptcy court
(DBN)

______________

Derivatives:

CDS defenders protest too much
(DBN)

______________

Insurance:

AIG Said to Halt Chartis IPO as CEO Deems It Core
(DBN)

______________

Aviation:

If Wall Street Ran the Airlines ...
(DBN)

Spanish airline suspends flights over financial troubles
(DBN
)

Big Four administrators track 35m for Globespan creditors
(DBN)

______________

Newspapers:

Could Tribune ESOP Suit Ruling Foreshadow Outcome in 'Fraudulent Conveyance' Bankruptcy Dispute?
(DBN)

______________

Finance:

CIT Group CFO retires, 4 new directors named
(DBN)

______________

Hotels:

Wyndham O'Hare to close Jan. 1
(DBN)

______________

Private Equity:

What's Left At Forstmann Little?
(DBN)

______________

Compensation:

Checking on Risky Pay
(DBN)

AIG Execs Still Haven't Returned Their Bonuses
(DBN)

______________

Gambling:

The Tropicana mess
(DBN)

Bondholders expect less from Trump casinos
(DBN)

______________

UK:

Insolvencies fall in November
(DBN)

Urgent action needed to preserve Britain's international credit rating
(DBN)

Goldman Sachs vs. the UK
(DBN)

Bank of England voted 9-0 for unchanged rate
(DBN)

S&P: UK Banks to Hold Back Recovery
(DBN)

Britain's Service Industries Shrank in Quarter Through October
(DBN)

UK Stocks Rise, Extending Steepest Yearly Rally Since 1997
(DBN)

______________

EU:

ECB can bail out banks; not countries
(DBN)

______________

Canada:

Why Ottawa is being urged to be cautious on mortgages
(DBN)

ABCP investors blast settlement, regulators
(DBN)

______________

Ireland:

Judge's Eyes Not Smiling for Irish Land Developer
(DBN)

______________

Middle East:

Dubai World to Present ‘Standstill’ in Early January
(DBN)

Out of Money, Dubai World Just Wants Time
(DBN)

Confusion over Gulf sukuk bankruptcy rules
(DBN)

______________

Russia:

Russian Supreme Court Annuls Yukos' Lebedev's Arrest Order
(DBN)

______________

Kazakhstan:

Kazakh Temirbank Default Followed Four-Fold Rise in Bad Loans
(DBN)

______________

China:

China Studies Tighter Supervision of Financial System
(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).