May 26, 2009

The Daily Bankruptcy News

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Law:

Weil, Dewey, Jenner and Honigman Heading GM Legal Team
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Bankruptcy for G.M. Would Tax the Experts
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Andrews Kurth Advises Warner Bros. on Latest Midway Twist
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Skadden, Simpson Lead Ground-Breaking BankUnited Deal
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Layoff Watch: Ropes & Gray Sends Dozens on Permanent Holiday
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Ropes & Gray Layoffs are Standard ‘Up or Out’ Associate Reviews, Firm Says
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No Longer a ‘Prep School,’ Ballard Spahr Plans New Pay Model After Earlier Layoffs
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Freshfields pays out after 70% trainee retention
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Camerons results: revenue up 2% as PEP down 15%
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Camerons shrinks payoffs by 20% as 80 face the axe
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Market Yourself Before and After a Layoff
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First-Quarter 2009: How Bad Was It (And What Does It Portend)?
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Law Grad Turns to Cupcake Truck as Economy Sputters
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Bank woes fuel work for Del. experts
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For Large Firms, Alternative Billing Makes Inroads
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Virtual Law Firms Stay Afloat in Tough Times
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In One Month’s Time, Clifford Chance Loses Five US Partners
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Zombie Firm Partner Trio Cut Deal Over $9 Million in Fees
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Dorsey & Whitney Terminates Partner Facing Insider Trading Charges
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Lewis Brisbois Is Flooded with Top-Notch Job-Seekers
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Economic Crisis Brings Pro Bono to the Crossroads
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Eversheds staff face axe if outsourcing pilot successful
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Why great lawyers don't always equal successful bankers
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Paralegals are in danger of being edged out of a shrinking jobs market as recruiters offer positions to those who have had their jobs deferred
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Fashion Dos-and-Don'ts, Brought To You By the Seventh Circuit
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Last Week in Layoffs
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Reversed Perk Watch: Kirkland Claws Back Health Care Costs
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Judge Says HP Lawyers Didn't Go Beyond ‘Bounds of Civility’
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Lawyers, Firm Face Subpoenas for Alleged Interference With Dreier Trustee
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Feds Say Indicted NJ Lawyer Had 8 Cases in Which Witnesses Died or Lied
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The Million Dollar Advocates Forum: A Valuable Service or Something Else?
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More Lawyers Form Their Own Firms, Despite the Financial Sacrifice
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Pictures and the Perp Walk: Prejudicial or Proper?
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Next Calif. AG Will Make 18% Less Than Jerry Brown’s $184K
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Why McDermott Settlement in $200M Malpractice Case Is Secret
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Recession Gives Firm Its Pick of Hungry Talent
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PD’s Book About Her Cases & Her Kids Shows Why She Went to Work
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Lawyer locked in nasty divorce feud on the run
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Lawyer to Stars’ Ex-Wives Has Never Been Busier
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Is He Now Sir William Powers Jr.?
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Wall Street:

Stock Futures Decline
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Asian Markets Fall After North Korean Missile Test
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Wall Street Declines Amid Light Trading, GM Tumbles
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Economy freezes IPO market
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Judges:

When the Justices Ask Questions, Be Prepared to Lose the Case
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GOP Senators Delay Vote on Hamilton, Citing “Troubling Rulings”
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Judge-Turned-Journalist Files Wikipedia Defamation Complaint in Her Old Court
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O'Connor on Judicial Elections, Civic Education and the High Court Vacancy
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Layoffs:

National and State by State Unemployment Rates
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Layoff Tracker
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Laid off? You likely will never make as much
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Eight states top 10% jobless rate
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The Weekly Layoff Report: A Little Better Here, A Lot Worse There
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Nikon to Slash 1,000 Jobs
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Bear Stearns to Algebra I Means Lost Dollars in New Trickle-Down Economics
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Metals:

Norilsk Posts Loss After $4.7 Billion Asset Writedown
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Oil/Gas:

Oil's value higher than price: Ahmadinejad
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Is $100 Oil Coming Soon?
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Saudi oil minister: OPEC to hold output steady
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'Oil to Reach $75'
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Oil falls below $61 as traders eye economic data
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Retailing:

CircuitCity.com is Back From the Dead
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Slow Spring Exacerbates Woes For Retailer
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Will States Kill on line retail?
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Shopping habits change the retail landscape
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Shopping center mogul McGill files $140M personal bankruptcy
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Fashion:

Recession Rage: Versace May Fire CEO After Donatella Tussle; Tensions flare over cost cuts
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Telecoms:

Nortel French Unit May Be Liquidated in Global Bankruptcy
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Nortel case -- option holders caught in tax trap
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Trucking:

Trucking company emerges from Chapter 11
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Education:

Cedar City Flight School Files For Bankruptcy
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Advertising:

Ad Revenue on the Web? No Sure Bet
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Fraud:

Conrad Black, the Supreme Court, and Honest Services Fraud
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Final exec faces sentence in SC firm's $275M bust
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New Chapter in Namvar Bankruptcy Case?
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Former exec for fuel distributor claims fraud
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Economy:

Fed worries about inflation as recession eases
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Study says businesses can create clean energy jobs
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Even economists are confused by jobless reports
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Is the Worst Over for Asian and US Economies?
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First Quarter Was New Low for World’s Developed Economies
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Conyers: Layoffs 'unfair' after bailouts
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China's Yuan: The Next Reserve Currency?
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China Is Now in Firm Control of US Debt Markets
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Richard Posner defines depression
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Krugman: World Economy Stabilizing
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Pimco New Normal of 2% GDP as Jobless Growth Coincides With Bullish Biggs
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Economic Stress Map
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Real Estate:

Job Losses Push Safer Mortgages to Foreclosure
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Amid Housing Bust, Phoenix Begins a New Frenzy
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Foreclosure Pro Bono Forgotten?
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The truth about a NY Times columnist's tell-all
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Short-sale training goes long way in easing stress
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Fannie Program Sees 70% Recidivism
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Bankruptcy Poetry:

GMemorial Day
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Autos:

Quicker is better if GM goes bankrupt
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GM's tough road to avoid bankruptcy
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Will U.S. start telling GM what to build?
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Critical day today for GM's future
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It's the End of GM as We Knew It
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363(f)and Dealership Agreements
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Carmakers' Woes May Cost 6 Million Jobs
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Obama Says GM to Revive; Collapse Might Have Led to Depression
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Obama plans 'leaner' car industry
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UAW Officials to Hear More on GM Job Cuts
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GM, Chrysler face decisive week as deadlines loom
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GM bondholders holding out for more
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What do they think will happen now?
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Small GM Debt Holders Face Bleak Choice
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GM vote brings tears
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Just how worthless GM actually is
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US bid for an auto `time out'
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Experts: GM may not move quickly enough to finish race
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Analysts: GM Bankruptcy May Not Be All That Bad
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The Daily Docket: Tired Of Chrysler? Let's Talk GM.
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Chrysler bailout is a recipe for failure
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GM Borrows $4 Billion From US to Push Loans to $19.4 Billion
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GM lied about how much cash it needed: Should we give them more?
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Fiat already concerned for 'deteriorating' Chrysler
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Only two Chrysler lines pass viability test
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GM Likely To Use Chrysler's Strategy In Its Expected Bankruptcy
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GM creditors watch Chrysler lawsuit
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A fresh start for Chrysler is near
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Letting Go at Chrysler
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Chrysler Dealer Says He Was Axed for Not Buying Cars
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Chrysler advisory firm says business worsened
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GM, Chrysler dealers watch and wait
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Firesale at Chrysler Dealerships Across Nation
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Chrysler's Response To Dealer Cuts: "It Wasn't An Easy Decision"
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Chrysler Dealers to Face Difficult Battle
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Chrysler Slams Indiana State Treasurer's Demands
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Are dealers a cost for automakers?
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Senators Kohl, Feingold Urge Action To Protect Auto Dealerships
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Ford’s Cheerleader and Chief
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Conyers critical of Obama auto task force
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A Tale of Two Economies in Michigan
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CAW swaps some benefits for pension plan funding
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Toyota Reportedly Planning to Give Its Hybrid Technology To GM
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Toyota says no plan to offer hybrid tech to GM
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New Doubts Raised on Opel Rescue Bids
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Fate of Opel to be decided by mid-week, says Merkel
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Bankruptcy Is Still a Possibility for Opel, Official Says
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German politics wrenches Opel steering wheel
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Germany seeks better bids in battle for Opel
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German Carmaker Narrowly Averts Bankruptcy
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Porsche fights off bankruptcy talk
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Honda overtakes Toyota for top spot in auto supplier survey
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Ssangyong faces Sept. 15 deadline for survival plan
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China emerging as new world auto power
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Sales:

363(f)and Successor Liability
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Banking:

Two Illinois Banks Seized, Bringing Tally This Year to 36
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BankUnited Was One of the Last 'Dead Banks Walking'
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First BankUnited; is Guaranty Financial next?
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British banks revolt against Obama tax plan; May refuse American clients
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Fitch Sees Rise in Bank Credit Losses
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Rating Agencies:

Flawed credit raters reap profits as regulators fail
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Lehman:

Lehmans bet lands tycoon in high court
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Lehman bankruptcy pits US trustees against UK administrators
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Television:

10 New Sitcoms Meant to Cure the Recession Blues
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Accounting:

PwC head defends fair value rules
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Accounting professor: break up the Big Four audit market
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2 East Coast public accounting firms to merge
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BDO Seidman Vs Banco Espirito Case - Trial Begins in Florida Court
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Delaware Supreme Court Agrees with Deloitte in Partnership Dispute
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New Bankruptcy Opinions
(No new opinions 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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Aviation:

Midwest lost record $477 million in 2008
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Air Canada reaches cash-saving credit card deal.
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Virgin Atlantic doubles profits, but sees loss
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Resorts:

The Clarity - And Burden - Of Hindsight
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Hockey:

NHL and Phoenix Coyotes Agree on Operation of Team
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Balsillie asks NHL to approve him as owner
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Clashing over the Coyotes
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Coyotes enter mediation, final ruling due by June 22
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Coyote junction: Where we are, what's next
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Balsillie would forgo NHL aid if Coyotes moved here
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Las Vegas Coyotes of the NHL? Possible, says Bickley
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Winning team the answer to Coyotes' woes
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Attorney: Predators owners asked to ante up for team's cash shortage
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Newspapers:

Despite Layoffs, Tribune Company Looking To Hand Out Bonuses
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Will Philadelphia be the place where the American newspaper dies?
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Travel:

Students across nation lose big bucks as major tour company disappears
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Solar:

Applied Solar To Seek Chapter 11
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Politics:

The politics of GM
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Housing crisis may haunt Florida governor's race
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Socialism? Hardly, Say Socialists
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Theme Parks:

Ready To Rock A Bit More Appropriately
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Celebs:

Photog Annie Leibovitz Threatened With Bankruptcy
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Food/Drink:

Wendy’s Wants Vendor Bankruptcy To Halt Nugget Lawsuit
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Bi-Lo seeks later deadlines on leases
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Raided meat plant may have found a buyer
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Dispute between Belvedere and its creditors escalates
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Corporate Reform:

Did Andrew Cuomo make a sweetheart deal at the expense of consumers?
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U.S. Cracks Down on Corporate Bribes
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Wall Street's OTC Derivatives Recommendations Adopted in Treasury Overhaul
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Student Debt:

Grads get option to repay loans based on earnings
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Credit Cards:

Dodd Now Shooting For Cap On Credit Card Interest Rate, Merchant Fees
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Credit cards may go charging into the past
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Unintended Consequences of Credit Card Law
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Auto Racing:

Indy 500 fans tighten belts, make tough choices
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Tech:

Recession lands hard in Silicon Valley
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Movie Theaters:

Movie chains avoid recession's effects
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Municipalities:

Localities Want U.S. to Support Muni Bonds
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Litigation:

Securities Suit Over Toxic Balance Sheet Assets Survives Dismissal Motion
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Litigation On The Street
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Personal Finance:

In Tough Times, Sticking To Workout Regimen Can Keep You Sane
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Bankruptcy Crimes:

Lin Gosman facing prison; sentencing set for July
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UK:

World's richest man rues stake in Independent
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Newspapers' future
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Thousands at risk as recession leads to rise in loan sharks
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Bankrupt Britain figures rise to 1m
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Fraud soaring says City police chief
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EU:

Europe Feels the Strain of Protecting Workers and Plants
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German And French Data Boost Morale
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Barclays Capital Plans to Hire 65 Bankers to Expand European M&A Business
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Japan:

Japan Lifts Economic View for First Time Since 2006
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Canada:

Canada says deficit larger than expected
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Russia:

Russian economy shrinks 23 percent
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Ukraine:

Gazprom says Ukraine may fail to pay May gas bill
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South Africa:

South Africa Falls Into First Recession in 17 Years
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Middle East:

Oil Above $50 Rescues Gulf States From Crisis
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