June 12, 2009

The Daily Bankruptcy News

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Law:

When Bankruptcy Gets Ugly: Lawyers Fighting over Filene's, Delphi
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Skadden In For Warren Beatty in Tribune Dick Tracy Dispute
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Clifford Chance joins Skadden and Sullivan on £8.2bn Barclays sell-off
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Heller: Now With More Bankruptcies!
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Oddball BigLaw Job Search Strategies
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Tennessee Law Firm Bass Berry Lays Off 10 Associates, 22 Staffers
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Salary Cut Watch: Fish & Richardson Scales Back Salaries
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Fish & Richardson Will NOT Cut Associate Pay
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Associate Salary Cuts Chart
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Salary Cut Watch: Bryan Cave(s)to the Salary Cut Phenomenon
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Tipster: Stealth Layoffs at Dykema
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Man, Remember 2007? Wasn't it Great?
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What the Other Partners Don't Know, Won't Hurt Us
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s

BigLaw Bullish on Chicago
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Staying Competitive During an Economic Downturn
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Business consultants are regarded as a very mixed bag by a skeptical profession
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Getting Back in the Game: How to Restart Your Career in a Down Economy
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Health Care Lawyers Are a Hot Property
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Who Will Be New King of Mountain at BigLaw Firm?
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Bradley Arant Reportedly Scammed Out of More Than $400K
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David Boies and Ted Wells Ready to Rumble at $4 Billion AIG-Greenberg Trial
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Complaint Reveals Details of $30 Million Suit Against Sonnenschein
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Title VII Suit Against Mayer Brown
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Firm Sanctioned for Acts of ‘Chameleon’ Lawyers
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Pls Hndle Thx: Negotiating with Terrorists
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Lawyer is a "raving beauty"
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Mintz Levin's Papernik on closing the bid-ask gap
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Lawyer Reprimanded for Charging $50 for Fee Reviews and Form Letters
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Stuck in the Middle - Women now make up a healthy proportion of lawyers at large firms
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10 Steps to Hiring New Outside Counsel
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Many Are Called, but Few Are Chosen
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25 Value-Added Free Services to Offer Your Clients
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What is Thomas Lauria playing at?
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A Puzzling Commentary by Felix Salmon
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Golfer of the Day: Meaghan Francella
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Grooming Young Lawyers for Law Firm Management
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Harvard Law School Names Faculty's Minow as Dean
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From Prosecutor to Pimp
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Facebook Is ‘Evidentiary Gold Mine’
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Laid-Off Associate Joins Computer Hacking Community
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Firm’s Managing Partner to Go Homeless for Night
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Calif. High Court Votes 4-3 Against Depublishing Unpopular Opinion
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Top French court : 'Access to internet basic human right'
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Indian Lawyers Oppose Foreign Firms Entering Market
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Say What?!
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Judges:

Obit: William Lipkin | Bankruptcy judge, 100
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Court Watchers Predict ‘Deluge’ of Recusal Requests in Light of Caperton
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Deal Talks for Indicted Judge With Ties to Scruggs?
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The Real Effect of Women on the Bench
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Sotomayor Nomination: News Roundup
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With Obama's Arrival, Women and Minorities Apply in Record Numbers for Prosecutor Posts, Judgeships
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Jeffrey Rosen’s Second Stab at Sotomayor
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Texas Realtor Uses 'SotomayOR' to Drum Up Business
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Sotomayor once described herself as 'product of affirmative action'
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Supremes: What's in YOUR Wallet?
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Law lecturer jailed for mooning judge
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Wall Street:

Stock futures mixed
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Stocks end up, but off their peaks
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Layoffs:

National and State by State Unemployment Rates
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Jobless rolls at new record: more than 6.8 million
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Wayne County to lay off 500; more staff cuts possible if unions don't agree to concessions
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Famous and fired
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Where Struggling Americans Can Find a Fresh Start
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Executive Compensation:

After Repaying TARP, Is the Bonus Bash Back On?
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Democrats pushing administration to do more to rein in excessive corporate pay, bonuses
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Business groups dare Obama to limit pay for unions bosses
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'This Interview is Over': Barney Frank Walks Off Live CNBC Interview on Executive Pay
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Barney Frank: Corporate Governance Expert
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Barney Frank melts down on CNBC
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Whimper From Washington On Exec Pay
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Skinning the Fat Cats | The Big Money
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'Special Master' Feinberg Takes on Bankers After 9/11, Vietnam
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Elder Debt:

Bankruptcy and Older Folks
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Fraud:

Grant Thornton seizes Madoff's yacht
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Madoff Investors Sue Kingate Over Alleged Duty Breach
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The general counsel for Allen Stanford's investment firm left before the SEC arrived
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ND bank claims it was duped in a loan to Petters
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Pensions:

PBGC asks to terminate Milacron pension plan
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Teamsters Weigh YRC Pension Deferments
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Riverstone pays $30 million in pension probe
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Insurance:

Hartford Plans to Accept as Much as $3.4 Billion in US Funds
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The Growing Number of Bank Failures and the D&O Insurance Marketplace
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Aviation:

Delta Air May Cut Jobs as Capacity Is Trimmed by 10%
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American Airlines to Cut Capacity Further
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American Air to 1,600 Cut Jobs, Delta May Follow on Travel Drop
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Airline passengers could get a 1-2-3 punch
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When pensions take flight
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Upbeat financing outlook could falter
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Boeing Cuts 20-Year Jet Delivery Outlook on Recession
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Education:

The College Bubble
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A Bailout for Students
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Retailing:

Retail bankruptcies seen picking up
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Retail Sales Gain for First Time in Three Months
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Bankrupt EJ's mulling more store closures
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Losing Bidders Get Filene's Auction Reopened
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Oil/Gas:

Crude Oil Drops on Speculation Rally Went Too Far, Too Fast
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SemGroup creditors object to disclosure
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Producer group objects to SemGroup reorganization plan
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Book Review:

Jim Collins: How Mighty Companies Fall
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Politics:

Business Group Targets Obama Agenda
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Economy:

Americans' wealth drops $1.3 trillion
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Weak Job Market May Crimp Spending, Slow Recovery
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New U.S. jobless claims fall, continuing claims rise
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Republicans Urge Bankruptcy to Resolve Failed Firms
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Fed loses $5.3B on Bear Stearns, AIG
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The Year Ahead For The Global Economy
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Economists See Fed on Hold in 2009
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U.S. Recovery Could Outstrip Europe’s Pace
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Fed's Lockhart Says US Will Sputter Unless Deficit Addressed
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Crisis Managers vs. Naysayers
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World Bank sees steeper global economy contraction
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Fall of Chrysler, GM saved the day
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Ford CEO expects US economy to improve in H2
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Grant Thornton Survey Indicates Optimism Returns to Pre-Recession Levels
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GOP: No more government bailouts; bankruptcy works
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Panel Says Obama Tax Proposal Falls $55 Billion Short
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The Recession's Far Reach - How Poor Attendance at a Vegas Convention Can Affect People In New York and Iowa
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Baby Boomers won't give economy a boost
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Economic Stress Map
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Real Estate:

Foreclosures continue to mount
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Neighbors are forcing neighbors into foreclosure
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Option ARMs Threaten Housing Rebound as Resets Peak
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Homebuilder shares fall on foreclosure report
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Major developer files for bankruptcy in Austin
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Bank Repossessions Surge, More Foreclosures Hit the Market
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New rules for appraisers cause concern among Realtors
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Commercial real estate braces for storm
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CRE Pricing Disconnect Spreads to Mortgage Investments
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10-year yield at 4% snarls recovery
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CBRE Inc. Soars On Debt Plan
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Possible, Partial Salvation For The Commercial Real Estate Market
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Capmark Nursing Homes Default, US Sues
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American Housing files bankruptcy
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Why Megan Thinks the Housing Bubble Has Not Yet Bottomed
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Obama ‘Affordable Refinance’ Program Off to Slow Start
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Should Congress Boost the $8,000 Home-Buyer Tax Credit?
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Congress Tries Again for $15,000 Home Buyer Tax Credit
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Yes, BofA is Advancing Mozilo's Defense Expenses - As It Should
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Mass. Lawyer Agrees to Pay $115K in Restitution to Settle Mortgage Fraud Case
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Autos:

Senators press for details of automaker bankruptcies fallout
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Poll: Majority of Americans oppose aid to GM
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No more federal bucks planned for GM, Chrysler
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Adviser defends auto strategy
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Old look to the new Chrysler
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The Chrysler Sale and Spin Wars; How An Early 363 Sale Can Give The Impression Of A Successful Bankruptcy
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Post-Bankruptcy, Jim Press Is Still in the Chrysler Game
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More bumps ahead for Chrysler
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Fiat-Chrysler: Best to start with low expectations
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When hedge funds go to bankruptcy court
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GM Bondholders to Protest Sale After Chrysler Ruling
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Forgotten voices in GM want to be heard
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GM Loves Bankruptcy
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GM: Defibrillating the Heartbeat of America
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GM's Lutz fires back at Washington Post
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Henderson says he expects to remain CEO of GM
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GM Stock Is a Fool's Paradise
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GM's bankruptcy has fund managers dumping its shares
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Impact of GM Bankruptcy & Disfranchisng Various Dealerships
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Another Chrysler Appeal
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GM sets strict standards for remaining dealerships
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Pontiac isn't dead yet
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Obama’s latest car sector bullying hits snag
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Washington Can't Be 'Hands-Off' With GM
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Auto Task Force Outsources Jobs
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Nelson wants government out of automotive business
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Auto Dealers at Risk Turn to Washington
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Those wacky members of Congress
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Mulally: Ford may issue more stock to cut debt
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Feds own part of GM and Chrysler; prefer Fords
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Stabenow expects Senate vote on 'cash for clunkers' bill within the week
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Global auto industry realigns
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In TV Ads, Chrysler, GM Diverge on Image Repair
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Delphi salaried retirees organize peaceful protest
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Ohio Carmaker's Recipe For Success
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State makes plea for aid to former autoworkers
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House, Senate teams OK $1B 'cash for clunkers' program
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Car waiting lists grow in China
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GM nearing deal to sell Saab unit
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Chinese auto company looking at Volvo
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GM protects global strategy with Opel deal
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Honda has no interest in GM, Chrysler assets
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Volkswagen May global deliveries rise 1.5 percent 7:20AM ET
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Chapter 13:

Chapter 13 Plan Cannot Avoid Lien Absent Adversary Proceeding
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Enron:

Enron takes to the stage
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Gambling:

Did the banks sabotage Fontainebleau?
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Fontainebleau Las Vegas Asks Judge to Expedite Resolution of Lawsuit Against Lenders
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Bank of America wants change in Fontainebleau bankruptcy plan
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Court to approve Tropicana bankruptcy sale
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Former MGM Grand 'wizard' recommended for Tropicana license
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Hockey:

Bankruptcy court judge wants to see other Coyotes bids submitted
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Coyotes bankruptcy judge praised as 'practical and savvy'
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Seinfeld Theory Argued In Coyotes Case
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NHL plans auction if Balsillie fails
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Gretzky could see big pay cut if Coyotes stay in Arizona
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Canadians back Balsillie: Poll
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Tax:

IRS Weighs Tax on Work-Cellphone Use
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Magazines:

RiseUp Publications files for Chapter 7 bankruptcy
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Lehman:

Lehman to Pay Barclays $6 Million for Its Own Desks, Chairs
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Credit Cards:

Interchange Legislation Overview
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Golf:

Golf Club of Dublin files for bankruptcy
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Auto Racing:

One of The Last Things NASCAR Needed: GM Cutting Back
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Distressed Investing:

The Risk Takers
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New Bankruptcy Opinions
(1 new opinion 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:

(1)- (2)- (3)- (4)- (5)- (6)- (7)- (8)- (9)- (10)
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Bankruptcy Statistics:

Bankruptcies slowed in May in Washington
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Middle Class Bankruptcy Filings on the Rise as Recession Continues
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Mass Torts:

Proposed Asbestos Settlement by McGuireWoods Labeled Collusive by Judge
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Judge Weinstein on mass torts
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Banking:

Lewis: pressure but no threat to BofA over Merrill
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Lawmakers Criticize Fed, BofA On Merger Aid
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BofA, Citi Caught Between Regulators' Squabbles
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Citigroup Sells $1 Billion of Notes Without US Guarantee
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MAC clause was not an option for Lewis
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BofA, Merrill Drama Revives Talk Of MAC Clauses
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Certain Banks Are Still Broke
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Banks: Good News, Bad Assets
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Bank Investors Throw Money at Ailing Companies
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The case against TARP payback
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Banks will start repaying TARP next week
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Escape from TARP: Reason to Celebrate?
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TARP-Free, Morgan Stanley Looks Naked
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Goldman's commercial bank days numbered?
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Girlfight at Citigroup!
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Banks to Settle Internet IPO Suit for $586 Million
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Georgia is a hot bed of failed banks
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BlackRock to Acquire Stake in Barclays Unit
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Bonds:

Corporate Bond Risk in US Rises, Credit-Default Swaps Show
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Alabama Bond Issuer Awaiting Swap Ruling Gets No Bids
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Bondholders Face Losses From Commercial Mortgages
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Fitness:

Gym Members Find Themselves In A Crunch
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Corporate Reform:

NY Judge Blasts SEC Lawyers on Overfunded Settlement, Orders Treasury Get $79 Million Windfall
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Supreme Court Turns Down Conrad Black Bail Request
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House's Frank Urges Elimination of Thrift Regulator
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Mayer Brown Predicts SEC will Focus on Insider Trading
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Derivatives:

Ban CDS as "instruments of destruction" - Soros
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Tech:

VantagePoint loses bet on Aviza
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Resorts:

Yellowstone Club Chronicles: The Edra Blixeth Bankruptcy
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Judge Defers Decision in Lawsuit Against Tim Blixseth
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Founders of Yellowstone Club turn on each other
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Advertising:

“RTÉ Not Facing Bankruptcy ” says Goan
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Celebs:

Former ‘Sopranos’ Star Ordered To Pay Up
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Freight:

Freight Index Falls to Seven-Year Low
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Management:

Managing Business Insolvency and Bankruptcy
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Boating:

Yacht rescuers see change in business weather
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Newspapers:

Tribune Creditors Follow The Money To McCormick Foundation
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Consideration of Sun-Times bonus plan on hold
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Drama Grows At Globe
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Washington Post May Protect Favored Workers, Ignoring Seniority
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Credit Cards:

A Drag on the Economic Rebound: Consumer Spending
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Furniture:

Hendricks Furniture files Chapter 11
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Constructive Trusts:

Appeals Court Holds More Than Mere "Mistake" Required for Imposition of Constructive Trust; Bankruptcy Trustee Entitled to Mistaken $90,000 Deposit into Debtor's Account
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Municipalities:

Oakland = GM?
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Can We Really Bail Out California?
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Apparel:

Hartmarx creditors sue banks over $12 million lease settlement
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Accounting:

KPMG announces job cuts
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UK:

Credit crunch grip weakening as conditions start to stablise
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Lending to small businesses by the high street banks rose by 287 million in April
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Investec Repossesses $33 Million London Home of Investor Caner
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Northern Rock Shareholders Seek Payout at UK Court
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Deloitte valuation of Woolworths deal goes to court
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Canada:

Canadian M&A hits six-year low
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Canada's Leader Says Stimulus Effort Under Way
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Canada Says Deficit to Reach C$50.2 Billion in 2009
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Prominent lawyer files for bankruptcy
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EU:

Is Eastern Europe On The Brink?
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Europe Industrial Production Declines by Record 21.6%
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Latvian premier: country saved from bankruptcy
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Ireland:

Irish Deflation Is Worst Since 1933
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Germany:

Germany may get further Arcandor aid request
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Prosecutors to investigate former Arcandor boss
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Switzerland:

Crown Forex appeals regulator bankruptcy ruling
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Middle East:

Insolvency laws go on trial
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China:

China's Economy Takes a Sharp Domestic Turn
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Russia:

Russia developer RTM likely to file for bankruptcy
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Russian Military Cuts Leave Soldiers Adrift
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Going bust in Russia
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