June 23, 2009

The Daily Bankruptcy News

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Law:

Judicial Clerkships on BigLaw’s Dime: But is it Ethical?
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Dreier Creditor Objects to Law Firm's Liquidator Fees for ClearBid Capital
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Howrey Introduces Apprenticeships
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On the New Howrey Program: A Chat with Chairman Bob Ruyak
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Howrey First Years to $100K
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Howrey to Acquire Day Casebeer; Barnes & Thornburg to Merge with Minneapolis Firm
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Southern Comfort: Some Firm Leaders Say Layoffs and Pay Cuts Enough to Keep Firm Afloat
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Expect Fewer Offers & Later Offers, Says Georgetown in Glum Career Forecast
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Dechert Endures Bankruptcy Hard Knocks
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Day Pitney Structures Leases in Troubled Times
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Free-Speech Case for Debt-Ridden Age
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Trustee, SEC File New Suits Against Investment Firms, Individuals Tied to Madoff
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Barnes & Thornburg to Merge With Minn. Firm
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The Beginning of the End of Mandatory Arbitration?
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The Battle of the Law Firm Bands
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Robert C. Post Named Yale Law’s New Dean
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Welcome to the Future: Time for Law School 4.0
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DePaul law faculty protest dean firing; interim named
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Law Students Facing Crushing Loans Have Help on the Way
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Minnesota: Protects College Students, Sticks it to Law Students
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Workplace Coach Offers Legal Assistant 3 Tips for Handling ‘Annoying’ Attys
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The Case of the Murdered Partner
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Lawyer, Masqueraded as Judge's Wife, Failed to Seek Mental Treatment, Suspended Three Years
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Famed Litigator Wins Dismissal of RICO Claims Alleging He Raped Seven
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Five Uses for a Kindle in a Law Practice
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N.Y. to Sue Private Lawyer ‘Employed’ By 6 School Districts for $2M Reimbursement
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Judges:

Sotomayor, Day 28: She Says Goodbye to Belizean Grove, More
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What Kind of Judges Do We Want?
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Wall Street:

Stock futures point to higher Wall Street open
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Stocks, Commodities Fall as World Bank Sees 2.9% Contraction
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Insiders Selling Heavily: What's Up?
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Europe, U.S. Stocks May Be Destined to Drop Below March Lows
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Big Investors Shift to Indexing
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Looming Meltdown Of Mortgage-Backed Securities Foreseen By Bear Stearns Own Analysts
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Stocks: Worst Decade Yet?
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Goldman's Grave Dancing Could Bring Big Bonuses
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Amherst Graduates Shun Wilted Wall Street to Fix World as $45,500 Teachers
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Layoffs:

Manufacturing survey sees 2010 hiring rebound
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National and State by State Unemployment Rates
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The Boundaries of Unemployment
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Unemployment Poetry
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Retailing:

Walgreen Fiscal 3Q Profit Fell 9 Percent
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Ghosts Of Retailers Past
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Eddie Bauer to be delisted from NASDAQ
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Aloha wear company bids to bring Hilo Hattie out of bankruptcy
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Saks Chief Cuts Orders to Avoid Discounts on Stiletto Heels, Men's Suits
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Banking:

Goldman Junk Credit Nightmare Shared With Morgan Stanley Fades From Market
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Bonus Lust Isn't Dead Yet at Banks on the Dole
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Bank flop lures CenterState to Atlanta
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Regulators order 2 Chicago-area banks to shape up
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Gambling:

Station still in talks on restructuring
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Station Casinos gets fourth extension on debt plan
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Judge orders mediation for Fontainebleau, banks
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Fontainebleau subcontractors want bankruptcy case moved
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Fontainebleau subcontractors say contractor conflicted
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Ex-MGM Grand exec gets OK to run Tropicana
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Indiana casino woes could hurt cities
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Rating Agencies:

Corporates dump agencies as expensive ratings lose currency
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M&A:

Morgan Stanley claims top spot in US M&A
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Fraud:

Bernie Madoff: What's the story with Joanne "Jodi" Crupi?
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Statement from Irving H. Picard
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Brokerage Firm and 4 Others Sued in Madoff Case
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US SEC charges Madoff recruiters with fraud
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Madoff's Made Men
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Investor's Widow Says Madoff Murdered Husband
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View on Stanford case: ‘Bit of Madoff, dash of Enron’
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Fund Manager Stein to Plead Guilty, Records Show
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Allen Stanford Leaves Richmond in Transfer to Texas, Defense Lawyer Says
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Stanford Asks Judge to Dismiss Fraud Claims in Civil Lawsuit
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Webio's Hernandez found
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Conrad Black Seeks Release on Bail Pending Appeal
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Health Care:

Moody's downgrades outlook on Texas Health Resources
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Healing the hospitals
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Senate Debates Medical Cost Tax Break
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Protein Sciences, Vaccine Maker, Forced to Bankruptcy
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Economy:

World Bank says global economic recession to deepen
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World Bank Cuts Global Forecast, Sees `Substantial' Effect on Poor Nations
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Lesson From the Depression: Different This Time?
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Obama's Plan Falls Flat With Many Economists
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When the recession will really end
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Endless welfare for the rich punishes the renter, saver and working poor
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Economic Stress Index Map
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Real Estate:

US mortgage group cuts loan forecast as rates jump
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Home Resales in U.S. Probably Increased as Foreclosures Drove Prices Down
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Here come the real estate vultures
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More home builder bankruptcies seen possible
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Guaranty Title debacle lingers two years later
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Closings, cutbacks, defaults, or bankruptcy news
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KB Home Ratings Lowered by Moody's
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The Commercial Real Estate Fallout: Profiting From the Death of the Shopping Mall
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SF Troubled Asset Count: 206 Properties
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Owner Defaults on Austin 1,272 Units
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Report Says Immigration Crucial For Housing Recovery
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Commercial real estate: The day the mall died
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Changes Urged to Rules on Condo Loans
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Back to the Lull? California’s Home Buyer Credit Just About Gone
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Embattled FL developer given until August to make a deal with bank
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Manhattan Real Estate: ‘An Eventual Bargain’
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Harvard study finds Dallas-Fort Worth home prices at 1990s levels
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More Namvar Entities Put Into Bankruptcy
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Telecoms:

Hawaiian Telcom opposes buyout offer
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NSN's Nortel deal may be too little, too late
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830 Canadian Nortel jobs remain
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Nortel's enterprise unit could go next
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The end-game is unfolding rapidly at Nortel
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Nortel's 114-year dynasty ends in pieces
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How WorldCom took Nortel down with it
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Alcatel Left Out In The Cold
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Corporate Reform:

SEC Claims New Territory With Insider Trading Case
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Hedge Funds Should Be Regulated Worldwide, Securities Watchdog Group Says
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Derivatives Get Second Look From U.S. Lawmakers Who Passed Before Meltdown
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CFTC Pushes for 'Clear, Unimpeded' Power to Police Derivatives
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2 Agencies Seek Joint Control Over Derivatives Markets
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Hedge Funds Step Up Efforts to Avert Tougher Rules
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CDS Trading Overhaul Adopted in Europe
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An Imperial Fed?
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Oil/Gas:

Challenger shareholders should take stock swap and run
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Oil slides to near $67 on grim World Bank forecast
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Jewelry:

Court approves $8M settlement in Fabrikant case
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Henry Dunay Designs files for bankruptcy
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Jewelers Try to Navigate the UCCs
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Music Industry:

Death Row Back To Life With Publishing Deal, New Releases
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Municipalities:

States Turning to Last Resorts in Budget Crisis
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No money for Half Moon Bay
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Personal Finance:

Bad Economy Pushes Visitors Through Zoo Gates
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Squeezing Romance From Weddings
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Pensions:

PBGC takes over three Dan River pension plans
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Tax:

U.S. corporate tax audits down 9 percent: IRS report
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Settlement Anticipated in UBS Case
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Justice Department may drop UBS tax evasion case: report
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Steinbrueck Pushes Clampdown on Tax Evasion as Havens Topple
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Tech:

Rambus cuts outlook, shares fall 8 percent
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Accounting:

Another Fair Value Rule Tweak Is in the Works
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Derivatives:

Derivatives: The risk that still won't go away
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Golf:

Royal Oaks golf course on the brink
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BridgeWater Golf Club Files for Chapter 11
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Auto Racing:

GM meets with Sprint Cup teams about cutbacks
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Hotels:

Fed loan to chain of hotels in doubt
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Mass Torts:

Insurance Co. Agrees to Settle Key Autism Case With 100 Families
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Fashion:

Christian Lacroix Is Ready for a Fight
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New Bankruptcy Opinions
(3 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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Walker Wilcox Matousek

Bankruptcy Statistics:

South Georgia bankruptcies skyrocket
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State law is factor in bankruptcy
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Study: Bankruptcy rates reflect policy, not people
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Autos:

Lawsuits Seek to Block GM Bankruptcy Sale
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Eight states challenge GM bankruptcy plan
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Objections filed over GM's Willow Run closure
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GM Test-Driving A Foreign Business Model
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Can GM stay within taxpayers' means?
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Struggling auto suppliers could see profits by 2012, experts say
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GM Files Objection To GMRA's Motion In Bankruptcy Court
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Iacocca's Advice to Bailed-Out Carmakers
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Toyoda Wonders How Many Times Toyota Makes Mistakes Emulating GM Failures
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Foreign Cos Seen Out-Producing Detroit In N America By 2012
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UM study: Fuel efficiency will be cash cow for automakers
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Family Loyalty Anchors Ford in Risky Times
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Ford to get retooling aid
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Platinum deal for Delphi may face detour
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No access to Delphi's books for bidders
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Ross' firm will buy parts of supplier
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IRS seeks $2.6 million in back taxes from Heckers
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Judge OKs Campisis' $12 Mil. Bid for Holley Dealerships
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Chrysler Dealer Appeals Franchise Terminations
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Bill would give support to GM, Chrysler franchises
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Obama to create panel for auto workers
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U.S. posts cash-for-clunkers Web site
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Cash-for-clunkers site launches, but rules aren't ready
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Car Buyers Spurn GM, Ford as Quality Gains Fail to Dent Japan Brands' Aura
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Peugeot launches bond issue, less bearish on sales
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Aviation:

UAL to Furlough Another 600 Flight Attendants
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Frontier Airlines to be bought by Republic Airways
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Airlines Fall on Economy Worries
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TSA's express security grounded by defunct company
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2010 seen as another bumpy year for business jets
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Flu virus to cost Delta $250 million in revenue
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Apparel:

Last Day for Hickey Freeman Bids
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Hickey Freeman bidding wraps up
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Printing:

Quebecor World's creditors voting today on its restructuring plan
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Newspapers:

Globe, Guild call talks productive
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Hockey:

NHL expects local offer
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Coyotes auction sale set for Aug. 5
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NHL deals blow to Jim Balsillie's dream
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Reinsdorf to Bid for Coyotes
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Aerospace:

Sea Launch files for Chapter 11 protection
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Celebs:

3 firms owned by former NFL player Kosar have filed for bankruptcy
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Trying to Cut Bread With a Saw: Bernie Kosar's Life Now
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Insurance:

AIG Trading Partners Squeeze Insurer Before Bailout
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Corporate Governance:

Is 'Shareholder Democracy' Finally Coming?
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UK:

Anger mounts over £9.6m pay deal for RBS boss
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Setanta fails to make payment to Scottish league
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Injunction lifted to reveal E&Y appeal against Equitable ruling
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U.K. Mortgage Approvals Increase to Highest in a Year, Banking Group Says
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EU:

Continental Europe: Distressed groups put new laws to the test
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EU recovery hopes punctured
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Trichet Says There's Still a Risk Turmoil Could Hamper Economic Recovery
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EU launches wave of financial regulation
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Europe Manufacturing, Service Industries Contracted at Slower Pace in June
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Canada:

Global economy not out of woods - Flaherty
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Russia:

New Insolvency Provisions: a Sword of Damocles
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Germany:

German consumer confidence rising
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France:

French Business Confidence Rises Third Month, Consumer Spending Declines
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