July 21, 2009

The Daily Bankruptcy News

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Law:

Skadden, Paul Weiss on CIT Refinancing Deal
(DBN)

GM's chief lawyer returns to Jenner
(DBN)

Arizona AG Axes 12 Attorneys As Nationwide Purge Continues
(DBN)

Ballard Spahr Axes 2010 Summer Associate Program
(DBN)

Triple Bad News for Law Students: Three Firms Ax Summer Associate Programs
(DBN)

Experts in Bankruptcy and Restructuring in Demand
(DBN)

Paul Weiss Pulls Out Of Boston
(DBN)

Salary Cut Watch: Foley & Lardner Goes Down 10%
(DBN)

Layoff Watch: Time for Government Lawyers to Wipe That Smile Off Their Faces
(DBN)

E-Mail Leaks About Layoffs Prompt Law Firms to Set New PR Course
(DBN)

DLA Piper Partner Moves to Smaller Firm Over Clients’ Cost Concerns
(DBN)

Fed’l Judge Says CIA Fraud Shielded Agent from Suit, Mulls Possible Lawyer Sanctions
(DBN)

Georgia On LB’s Mind: Lying Prosecutor; Sarcastic-Faced Lawyer?
(DBN)

Firms Bank on Cities' Distress
(DBN)

Sleeper Decision Could Have Impact on Litigation
(DBN)

Potential Claims From the TARP Program
(DBN)

Actions Heat Up Over CDO Transactions
(DBN)

In-House Lawyers Say They Are Too Busy to Hire BigLaw
(DBN)

GCs: Immune No More
(DBN)

GCs got small raises even as the economy tanked-and the value of their stocks plunged
(DBN)

Head of the GC Class? - An Expert in Bankruptcy Law
(DBN)

Best Industries for GCs
(DBN)

Eleven reasons why a law department might transfer a pending matter to a different firm
(DBN)

List of the nation's 100 highest-paid general counsel
(DBN)

How to Face a Triple Threat
(DBN)

A ‘Sense of Desperation’ Among Lawyers Seeking Help for Depression
(DBN)

Collecting Madoff and Dreier Assets Keeps New York Lawyers Busy—and Stressed
(DBN)

Dreier's Luxe Life Revealed in $10 Million NYC Condo Auction
(DBN)

As Recession Triggers Depression, Out-of-Work Lawyers May Be at Risk for Suicide
(DBN)

Sneer Tactics: Lawyer Can't be Held in Contempt for "Sarcastic" Expression
(DBN)

Wondering Why Donald Trump's Libel Case Fell Flat?
(DBN)

Motown Magic Sues Willkie Farr For Fraud, Breach of Contract
(DBN)

The Gatesgate Arrest Scandal: Harvard Law Prof Charles Olgetree to Represent
(DBN)

Loyola Law School (L.A.)Blames Name Mistake For Drop In Rankings
(DBN)

UNLV Con Law Professor Is Running, UNLV Students Are Rebelling
(DBN)

Say What?!
(DBN)

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Judges:

Senate GOP Chief: Sotomayor Won't Get My Vote
(DBN)

Questioning Sotomayor Without a License
(DBN)

Sotomayor Responds to GOP Follow-Up Questions
(DBN)

Sotomayor Hearings Remind Women of Issues Female Attorneys Face
(DBN)

At Least Sotomayor Will Commit On Brown v. Board of Education
(DBN)

Breaking Down Sotomayor's Fashion Choices
(DBN)

Bar Leader Calls for Judge in Trouble Over Daytime Moonlighting to Resign
(DBN)

'Rule of Necessity' Could Be Invoked in N.Y. Judicial Pay Suits
(DBN)

Judge Drowns After Rescuing Son in River
(DBN)

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Wall Street:

US Stock-Index Futures Advance
(DBN)

US Stocks Advance, S&P 500 Index Jumps to Highest Level Since November
(DBN)

The Fine Line Between Profits and Theft
(DBN)

Swaggering Toward Disaster on Wall Street
(DBN)

Goldman sees S&P 500 rallying 13% by year's end
(DBN)

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Layoffs:

National and State by State Unemployment Rates
(DBN)

Continental Airlines cutting 1,700 jobs
(DBN)

Recession sparking some people to work for free
(DBN)

Midway to cut global workforce by 20%
(DBN)

A recession-proof job? Good luck with that
(DBN)

Possible wage deflation a cloud over recovery
(DBN)

Can lay offs affect credit scores?
(DBN)

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Corporate Reform:

Cuomo says to sue Schwab for fraud over ARS
(DBN)

Charles Schwab Corp. refutes civil fraud allegations
(DBN)

TD Ameritrade Agrees to Buy Back Auction-Rate Securities
(DBN)

Cuomo Talks To ‘Chuck’ About ARS After-Party; TD Ameritrade Settles
(DBN)

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Banking:

M&T Bank 2Q profit falls 75 percent on charges
(DBN)

Overseer: Banks Misused Funds
(DBN)

Obama Aide Declines Visit to Bank Board
(DBN)

Bank Hopes Low Rates Will Be Short - Lived
(DBN)

Troubled bank industry continues lobbying against regs
(DBN)

Banking Is Far From Fixed
(DBN)

Treasury, banks start to retreat from battle
(DBN)

US regional bank looks to file prepackaged bankruptcy
(DBN)

FDIC Bank Scrutiny To Lengthen Recession
(DBN)

Zions Bancorp posts 2nd-quarter loss
(DBN)

Macatawa Bank posts wider Q2 loss on charges
(DBN)

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Retailing:

Circuit City Puts Brand-Bashing Sites On The Block
(DBN)

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Aviation:

Continental Airlines Will Cut 1,700 More Jobs as Loss Widens
(DBN)

GAMA believes general aviation industry has bottomed out
(DBN)

Passenger revenue drops 26 percent for US carriers
(DBN)

With 2 deals, Republic Airways grows into big airline
(DBN)

Teterboro Airport, Ground Zero for the Private-Jet Backlash
(DBN)

AirTran Airways parent expected to post 2Q profit, a bright spot for the struggling industry
(DBN)

Airlines resort to capacity cuts to adjust to rough economic times
(DBN)

Delta Air Lines expected to post loss for 2Q
(DBN)

Air Canada unions protest airline using landing slots as collateral
(DBN)

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RVs:

Fleetwood Enterprises sells Indiana plants
(DBN)

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Economy:

Leading Index Shows Recession May Be Nearing End
(DBN)

Crisis Tab Seen at $23.7 Trillion
(DBN)

TARP watchdog cites lack of transparency in Obama administration
(DBN)

White House putting off budget update - Forced to acknowledge the wide gap between its once-upbeat predictions about the economy and today's bleak landscape
(DBN)

Fed's Lockhart Says Economy Steadying, Recovery Weak
(DBN)

Summers Says U.S. Economy No Longer in `Freefall' After Stimulus Measures
(DBN)

Are Manufacturers Also Too Big to Fail?
(DBN)

Upward Mobility Goes Bust in Las Vegas
(DBN)

With a few exceptions, the rest of the world will be mired in recession far longer than the U.S.
(DBN)

What Did the American Taxpayer Get for its Billions?
(DBN)

Big Estimate, Worth Little, on Bailout
(DBN)

Highway spending not the stimulus envisioned
(DBN)

Conn. sets record high for business shutdowns
(DBN)

Economy Tracker Map
(DBN)

Recovery Index
(DBN)

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Real Estate:

Commercial Mortgages Said to Be Failing Fast
(DBN)

Fitch Keeps Eye on MGIC after Q2 Loss
(DBN)

Bankruptcy judge confirms plan for big Cal project
(DBN)

What Happens When Banks "Just Walk Away" Too?
(DBN)

Realtors' `Rosy' Index Overstates U.S. Housing Affordability
(DBN)

Chinese Drywall Trust to Be Part of WCI Communities Bankruptcy Plan
(DBN)

LandSource to reorganize
(DBN)

FHA Loans Set New Record in June
(DBN)

Watergate Up for Auction
(DBN)

When bad spending habits and ugly mortgages collide
(DBN)

Low-priced foreclosures incite bidding wars
(DBN)

7 Reasons Housing Isn't Bottoming
(DBN)

Metro Detroit foreclosure sales double from last year
(DBN)

California foreclosure deals are bittersweet for novice investors
(DBN)

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Finance:

The Time Bomb in Corporate Debt
(DBN)

Sources: CIT Group Board OKs Rescue Loan
(DBN)

CIT Group's Creditors Said to Commit $2 Billion of $3 Billion
(DBN)

CIT Bondholder Pact Proves Life After Death With Markets Rescue
(DBN)

More Details on the CIT Rescue Financing
(DBN)

Can CIT end the bailout mentality?
(DBN)

CIT Gets $3 Billion Rescue, But Hardly Out of the Woods
(DBN)

CIT Rescue Is Stop-Gap Measure
(DBN)

CIT's Stock Soars on Reports of Bondholder Deal
(DBN)

Feeling The Hurt Of CIT's Pain
(DBN)

Can CIT make it? Not without new structure
(DBN)

S&P 500 to drop CIT Group, add Red Hat
(DBN)

______________

Autos:

Obama Administration Looking to Aid Auto Suppliers, Locke Says
(DBN)

Panel to hold hearing on auto bailout in Detroit
(DBN)

Bid to save auto dealers threatens new GM, Chrysler
(DBN)

Creditors reject Delphi bankruptcy plan
(DBN)

Delphi retirees aim lawsuit at 4 executives
(DBN)

Eaton 2Q earnings tumble, cuts full-year forecast
(DBN)

Johnson Controls net income falls 63%
(DBN)

GM Confirms Received Three Bids For Opel/Vauxhall
(DBN)

German tire, car parts maker Continental says pretax profit down 91 pct in 2Q
(DBN)

Volvo Foresees 'Difficult' Quarter as Loss Exceeds Estimates
(DBN)

Ssangyong`s Bankruptcy Protection Could End Sooner
(DBN)

Raid Imminent at Ssangyong Plant
(DBN)

______________

Credit Cards:

In Settlement, Arbitration Company Agrees To Largely Step Aside
(DBN)

Credit Card Companies Dealt A Major Blow
(DBN)

A Theory On Minnesota's Quickie (Settlement)With the National Arbitration Forum
(DBN)

Advanta says most June loan payments 'uncollectable'
(DBN)

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Health Care:

Baucus, Grassley Slam Physician-Owned Hospitals
(DBN)

Should Canada’s Health System Become More Like America’s?
(DBN)

More Consumers Pay Medical Bills by Credit Card
(DBN)

Little business unity on health-care reform
(DBN)

Clinics tied to hepatitis outbreak seek bankruptcy
(DBN)

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Debt Collection:

Commercial Accounts in Collection Increase 40%
(DBN)

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Building Materials:

Moore-Handley files for Chapter 11
(DBN)

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Accounting:

Ernst & Young Is Here to Help (For a Small Fee)!
(DBN)

The Summer Corporate Outing: Be Bold!
(DBN)

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Metals:

Empire bankruptcy raises questions on scrap venture
(DBN)

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Telecoms:

Research In Motion Says It Was Blocked From Bidding for Nortel
(DBN)

FairPoint gets a break
(DBN)

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Distressed Investing:

Investing In Special Situations
(DBN)

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Fashion:

Mary Norton Inc. files for bankruptcy
(DBN)

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Adoption Agencies:

Families want help to complete adoptions after bankruptcy
(DBN)

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Derivatives:

$7.9 Billion Kazakhstan Bank Loss Shows Why CDS Must Be Regulated
(DBN)

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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)

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Bankruptcy Reform:

59% of Restructuring Experts in AlixPartners Survey Call on Washington to Reform Bankruptcy Code
(DBN)

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Celebs:

Ex-NFL Star Vick Released
(DBN)

Pearlman Trustee Wants It That Way
(DBN)

Michael Jackson Business Manager Filed For Bankruptcy
(DBN)

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Fraud:

Inmates Want to Beat Up Madoff
(DBN)

Madoff Already has Respect in Prison and He Hasn't Even Gotten Started
(DBN)

Fla. Lawsuit: Willis Verified Stanford Investments
(DBN)

Venezuelan Ad Exec Sues Insurance Broker Over Stanford Investments
(DBN)

Financier accused in Ponzi scam to stay in jail
(DBN)

Missouri Grain Dealer Accused of Cheating 180 Farmers Through Ponzi Scheme
(DBN)

A $10 billion Saudi fraud claim
(DBN)

Number of Fraud Cases in the Courts is High
(DBN)

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Tax:

IRS Targets Offshore Tax Evaders
(DBN)

IRS Getting Back to Scaring People into Tax Compliance
(DBN)

IRS Agent Threatens to Kill Treasury Agents Then Throws a Conniption Fit
(DBN)

______________

Personal Finance:

Looking for a bargain dinner? Try lobster
(DBN)

Getting real: A new era of frugality
(DBN)

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Bonds:

Bond Risk Falls After CIT Rescue, Bernanke Inflation Strategy
(DBN)

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Gambling:

Fontainebleau Asks to Shed Empty Leaseholds
(DBN)

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Municipalities:

Schwarzenegger Resumes Talks Amid Progress on Budget
(DBN)

Schwarzenegger wins battle against tax increases
(DBN)

IOUs may become norm for municipal finance
(DBN)

State budgets hit by shrinking tax take; Big spending and service cuts forecast
(DBN)

U.S. States Push More Gambling to Help Replace Declining Taxes
(DBN)

Company that leased toll road close to bankruptcy
(DBN)

______________

Oil/Gas:

SemGroup and Catsimatidis Group Agree to End Litigation
(DBN)

Billionaire John Catsimatidis to resign from SemGroup committee
(DBN)

Catsimatidis to support SemGroup reorganization
(DBN)

Aurora Oil & Gas Corporation Provides Update to Bankruptcy Proceedings
(DBN)

______________

Ethanol:

Owner of Nebraska ethanol plant files bankruptcy
(DBN)

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Newspapers:

Bankrupt 'Chicago Sun-Times' Parent Skips Pension Payments
(DBN)

Boston Globe Union Has 2nd Vote on Wage Cuts
(DBN)

Last big Globe union bends on cuts
(DBN)

McClatchy expected to post second-quarter loss as newspaper advertising woes persist
(DBN)

______________

Bankruptcy Statistics:

Bankruptcy filings on rise
(DBN)

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Personal Bankruptcy:

Bankruptcy judges can predict the future
(DBN)

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Agriculture:

Sale of Iowa kosher slaughterhouse sale approved
(DBN)

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Mass Torts:

Surprisingly large payout numbers from asbestos trusts
(DBN)

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Food/Drink:

Eating In More
(DBN)

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Insurance:

Morgan Stanley Stands to Profit as AIG Shrinks
(DBN)

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Advertising:

Recession 101
(DBN)

______________

Television:

Charter Bankruptcy Takeover Plan Criticized by Lender
(DBN)

______________

Lehman:

Lehman Working to Pay Off Debt, One Tchotchke at a Time
(DBN)

Lehman D-Day
(DBN)

Lehman Holds ebay Sale, Hawking Trinkets to Pay Debts
(DBN)

Lehman To Pump $950M Into Delaware Unit
(DBN)

______________

UK:

Pre-pack bankruptcy accountants 'mocking rules'
(DBN)

Proposal Could Give Bank of England More Regulatory Power
(DBN)

Mortgage lending up 17% in June
(DBN)

Lenders like Lloyds face more hurdles to recovery
(DBN)

______________

France:

Insolvency Law in France
(DBN)

Paris Derivatives Jobs Burn Up as Market Rues BNP Paribas, SocGen Exotics
(DBN)

______________

Canada:

Bay Street braces for dismal fall in profits
(DBN)

C&A Automotive Canada files for creditor protection
(DBN)

______________

Spain:

In Spain, Bank Robberies Rise as Economy Falters
(DBN)

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