May 27, 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

Law:

Roughing It: It's Summertime, But the Working Isn't As Easy
(DBN Subscription Required)

Cadwalader #1 for Layoffs
(DBN Subscription Required)

Allen Matkins: Salary Cuts Hit Paralegals Too
(DBN Subscription Required)

Herbert Smith lays off 84
(DBN Subscription Required)

Clifford Chance sets up partner appeals body
(DBN Subscription Required)

Sonnenschein Salary Update
(DBN Subscription Required)

Bankruptcy Beat Snapshot: Adam Rogoff
(DBN Subscription Required)

The Cost of Going Broke
(DBN Subscription Required)

Weil Partner Takes the Stand in Refco Case
(DBN Subscription Required)

Jones Day's MacDonald on PE buying banks
(DBN Subscription Required)

Lawyers Joke that GM Bankruptcy Will Deplete Experienced Bar
(DBN Subscription Required)

Eversheds results: revenue dips as partner profits fall by 27%
(DBN Subscription Required)

Setting Your Sights on Management
(DBN Subscription Required)

Sidley Associate Writes Tell-All About Legal Life in the Forbidden City
(DBN Subscription Required)

Survey: Law Firm Managers Losing Confidence
(DBN Subscription Required)

More Litigation on Money Owed to Bankrupt Firms and Their (ex)Partners
(DBN Subscription Required)

Pay Follows Practice Area
(DBN Subscription Required)

Fellowships for the Poor: Only Unemployed Columbia Law Grads Need Apply
(DBN Subscription Required)

The Next Big Question: Will There Be a 'Feelings' Filibuster?
(DBN Subscription Required)

Lone Star Lawyers Overworked
(DBN Subscription Required)

Phila. law schools a U.S. wellspring
(DBN Subscription Required)

Deal Lawyers See Venture Thaw
(DBN Subscription Required)

Suit Against Greenberg Traurig Real Estate Head Is Stayed
(DBN Subscription Required)

McDermott Partner Bolsters Prosecution's Case at Astor Trial
(DBN Subscription Required)

Tips for Pitching Your Firm to In-House Counsel Without Going Overboard
(DBN Subscription Required)

Is there an Epidemic of Cheating At Law Schools?
(DBN Subscription Required)

Justices Ease Rules on Questioning
(DBN Subscription Required)

Sleep Docs Offer Tips for Legal Workers & Others Stressed Out by Economy
(DBN Subscription Required)

______________

Judges:

Judges' soaring bankruptcy workload
(DBN Subscription Required)

Obama nominates Sotomayor to Supreme Court
(DBN Subscription Required)

Defying Criticism, High Court Pick Stays on 'Real World' Message
(DBN Subscription Required)

The Sotomayor Nomination: A Bit of Backstory
(DBN Subscription Required)

Review of Judge Sotomayor's Bankruptcy Opinions
(DBN Subscription Required)

Obama's missed opportunity
(DBN Subscription Required)

Republicans Withhold Criticism of Sotomayor
(DBN Subscription Required)

Would Republicans dare vote against first Hispanic Woman?
(DBN Subscription Required)

Required Reading on Supreme Court Nominee Sonia Sotomayor
(DBN Subscription Required)

Sotomayor Is Obama's Pick as First Hispanic on Court
(DBN Subscription Required)

Résumé
(DBN Subscription Required)

Sotomayor and Business: ‘No Reason . . . to be Concerned’
(DBN Subscription Required)

Sotomayor: 'I would hope that a wise Latina woman with the richness of her experiences would more often than not reach a better conclusion than a white male'
(DBN Subscription Required)

Self described 'Newyorkican'
(DBN Subscription Required)

‘Kid From the Bronx’ With Hopes and Doubts
(DBN Subscription Required)

A Portrait of the Judge as a Young Lawyer
(DBN Subscription Required)

Should Sotomayor’s Diabetes Be Considered In the Nomination Process?
(DBN Subscription Required)

Sotomayor Has Pragmatic Record in Business Cases
(DBN Subscription Required)

The Judge Speaks: A Sotomayor Sampler
(DBN Subscription Required)

The rough road to the Supreme Court
(DBN Subscription Required)

Sotomayor Opens the Season on Obama's Court Picks
(DBN Subscription Required)

‘Fendi Crush’ was Highlight of Sotomayor’s IP Practice
(DBN Subscription Required)

Tailored Messages on Supreme Court Choice
(DBN Subscription Required)

Sotomayor Soundings
(DBN Subscription Required)

Judge's Rulings Are Exhaustive but Often Narrow
(DBN Subscription Required)

Security Worries Spur Some Judges to Pack Heat, Use 24-Hour Guards
(DBN Subscription Required)

______________

Wall Street:

European, Asian Shares, US Futures Gain on Economic Optimism
(DBN Subscription Required)

Stocks Jump After Consumer Confidence Level Surges
(DBN Subscription Required)

Who Would Replace GM in the Dow?
(DBN Subscription Required)

______________

Layoffs:

National and State by State Unemployment Rates
(DBN Subscription Required)

Tips for Over-40 Workers in Today's Job Market
(DBN Subscription Required)

Saint Joseph Mercy Health System to trim equivalent of 350 full-time jobs
(DBN Subscription Required)

Bracelet says: 'I need a job'
(DBN Subscription Required)

Early retirement claims rise sharply
(DBN Subscription Required)

Schwarzenegger details state layoffs
(DBN Subscription Required)

Bleak Picture, Yes, but Help Is Still Wanted
(DBN Subscription Required)

______________

Banking:

Reed Presses Regulators to Clarify 'Risky' LBO Rules
(DBN Subscription Required)

Financial Woes Spread to Smaller Banks
(DBN Subscription Required)

Goldman Twice Shut Out Of Bank Auctions
(DBN Subscription Required)

WaMu Windfall Seen for JPMorgan Chase
(DBN Subscription Required)

Merrill, Indymac Show Investors Whom to Distrust
(DBN Subscription Required)

UBS Will Stick to Market-Level Salaries, Gruebel Tells Staff
(DBN Subscription Required)

Zombie Banks Walk Among Us
(DBN Subscription Required)

Good Plan for Bad Banks
(DBN Subscription Required)

______________

Insurance:

Why AIG Needs to Go Into Prepackaged Bankruptcy
(DBN Subscription Required)

______________

Consultants:

Restructuring firm GLC to put money where its mouth is
(DBN Subscription Required)

______________

Hockey:

NHL, Coyotes Agree (Sort of)
(DBN Subscription Required)

Jim Balsillie wants your vote
(DBN Subscription Required)

______________

RVs:

Arbutus RV loses out in the US
(DBN Subscription Required)

______________

Furniture:

DeCoro USA files for Chapter 11 bankruptcy
(DBN Subscription Required)

______________

Sovereigns:

Ecuador to pay 35 cents on dlr for defaulted bonds
(DBN Subscription Required)

______________

Corporate Reform:

US Financial Regulations Need Overhaul, Panel Says
(DBN Subscription Required)

______________

Aerospace:

Space Coast economy uncertain as shuttle shuts down
(DBN Subscription Required)

GenCorp seeks to alter debt
(DBN Subscription Required)

______________

Corporate Governance:

New Tactic To Oust CEOs
(DBN Subscription Required)

______________

Food/Drink:

Pilgrim's Pride sells unit, repays DIP financing
(DBN Subscription Required)

______________

 

 

Economy:

US consumer mood lifts despite home price plunge
(DBN Subscription Required)

Consumer Confidence Jumps by Most in Six Years
(DBN Subscription Required)

Consumer 'confidence' or consumer 'hope'?
(DBN Subscription Required)

Banks Want to Buy Their Own Assets Under Treasury Program
(DBN Subscription Required)

Fed's Plosser sees a lot of '70s in today's economic situation
(DBN Subscription Required)

U.S. to Suffer `Hyperinflation' Approaching Zimbabwe Levels, Faber Says
(DBN Subscription Required)

Economists: Recession to end in 2009
(DBN Subscription Required)

Obama: 'We're Out Of Money'
(DBN Subscription Required)

The Good Times Are Over, Long Live the Okay Times
(DBN Subscription Required)

For Black Communities, Recession is 'Like a Hurricane'
(DBN Subscription Required)

How your undies track the recession
(DBN Subscription Required)

Top 10 Stimulus Road Projects
(DBN Subscription Required)

The Dangers of Printing Money
(DBN Subscription Required)

Economic Stress Map
(DBN Subscription Required)

______________

Real Estate:

S&P: Home Prices Fall by Record 19.1 Percent in 1Q
(DBN Subscription Required)

Housing Starts May Hit Lowest Level Since '45
(DBN Subscription Required)

No Sign Home Prices Hit Bottom
(DBN Subscription Required)

Top-Graded Commercial Mortgage Debt May Face S&P Ratings Cuts
(DBN Subscription Required)

Home sizes change with the times
(DBN Subscription Required)

A Look at Case-Shiller Numbers, by Metro Area (May 2009 update)
(DBN Subscription Required)

Metro Detroit home prices off by 25.7%
(DBN Subscription Required)

Home vacancies leave void
(DBN Subscription Required)

Do Loan Modifications Work?
(DBN Subscription Required)

Home Prices ‘Significantly Undervalued,’ Should Renters Buy?
(DBN Subscription Required)

Manhattan’s Sublet Office Market Is Bursting
(DBN Subscription Required)

How to Make Money in Real Estate: Count the Beer Cans in the Garbage
(DBN Subscription Required)

Nice House, Big Loan
(DBN Subscription Required)

Many modified mortgages will default again, Fitch Ratings projects
(DBN Subscription Required)

Pushing Paper To No Purpose
(DBN Subscription Required)

Mortgage Investors Drop Fight Against Obama
(DBN Subscription Required)

______________

Autos:

Bankruptcy Looms at GM
(DBN Subscription Required)

GM Said to Gain Consumer Trust From Chrysler Process
(DBN Subscription Required)

U.S. Expected to Own 70% of Restructured G.M.
(DBN Subscription Required)

Why a GM Bankruptcy Is Like Napoleon's Retreat
(DBN Subscription Required)

UAW leaders approve new contract with GM
(DBN Subscription Required)

GM bond exchange falling far short of target: sources
(DBN Subscription Required)

GM bondholders nix tender offer; bankruptcy nears
(DBN Subscription Required)

GM Cuts Stock Due UAW by 55%, Boosting Equity Reserve
(DBN Subscription Required)

GM Bonds Trading At Lowest Ever
(DBN Subscription Required)

GM bondholders may have a better plan
(DBN Subscription Required)

Fate of GM Lies With Recalcitrant Bondholders
(DBN Subscription Required)

Will GM survive the week?
(DBN Subscription Required)

A telling moment within the protracted crash of General Motors
(DBN Subscription Required)

Plaintiffs suing GM can settle or hope
(DBN Subscription Required)

GM: Using Taxpayer Dollars To Put Taxpayers Out Of Work
(DBN Subscription Required)

GM moves have everyone in Flint area watching
(DBN Subscription Required)

GM Agreement Gives 17.5% of Stock to UAW Trust Fund to Cut Debt
(DBN Subscription Required)

5 Delphi plants will return to General Motors' control
(DBN Subscription Required)

Ohio AG objects to Chrysler sale
(DBN Subscription Required)

Judge Denies Indiana Pensioners' Withdrawal Motion
(DBN Subscription Required)

Chrysler Project Genesis: Fresh Start or Doomsday for Dealers
(DBN Subscription Required)

Court lets stand $13M judgment against Chrysler
(DBN Subscription Required)

Chrysler heads to court for key bankruptcy hearing
(DBN Subscription Required)

Will the Chrysler Deal Be Delayed?
(DBN Subscription Required)

GM Secured Lenders to Get Full Repayment: Why Not Chrysler?
(DBN Subscription Required)

US Judge Rejects Chrysler Pension Bid to Move Case
(DBN Subscription Required)

State vows Chrysler appeal
(DBN Subscription Required)

Fiat Wants to Avoid Chrysler Product Liability
(DBN Subscription Required)

Chrysler Could Exit Bankruptcy by Next Week: Source
(DBN Subscription Required)

US Auto Recovery Czar Asked to Help Auto Suppliers
(DBN Subscription Required)

House Judiciary Committee Explores Effect of Bankruptcies in Automobile Industry
(DBN Subscription Required)

Magna's Bid for Opel Draws Berlin's Attention
(DBN Subscription Required)

CAW 'didn't have a choice' but to renegotiate, Oshawa GM workers hear
(DBN Subscription Required)

GM Canada Contract Cuts Labor Costs, Would Help Bankruptcy Exit
(DBN Subscription Required)

VW loans Porsche $980 million to ward off bankruptcy
(DBN Subscription Required)

Porsche Dialing 9-1-1?
(DBN Subscription Required)

For automakers in Europe, 2008 was the year the wheels came off
(DBN Subscription Required)

Auto makers can’t even give cars away
(DBN Subscription Required)

German Advisers Criticize Magna, Fiat Bids
(DBN Subscription Required)

GM Europe Says Opel-Vauxhall Assets Pooled
(DBN Subscription Required)

______________

Fraud:

Hedge Fund Agrees to Return Madoff Withdrawals
(DBN Subscription Required)

Trustee Squeezes $235M From Madoff Feeder
(DBN Subscription Required)

Madoff's California tentacles to be traced
(DBN Subscription Required)

SEC Sues Texas A&M Finance Professor for Foreign Exchange Fraud
(DBN Subscription Required)

Mirabilis Founder Amodeo's Fraud Draws 22 1/2 Years in Prison
(DBN Subscription Required)

______________

Mass Torts:

Predicting the Supreme Court Decision in the Travelers Case
(DBN Subscription Required)

______________

Aviation:

Virgin: 'No airline will make money this year'
(DBN Subscription Required)

British Airways: worst loss in 20+ years
(DBN Subscription Required)

New Rules Could Force You to Change Your Name
(DBN Subscription Required)

______________

Tax:

Millionaires Go Missing
(DBN Subscription Required)

Obama Taxes the Wealthy, Part II
(DBN Subscription Required)

______________

Finance:

Three-Month Dollar Libor May Rise a Second Day on Bank Concern
(DBN Subscription Required)

______________

Nonprofits:

Women want AHF bankruptcy cases tossed
(DBN Subscription Required)

______________

Trucking:

Truck Tonnage Plummets in April
(DBN Subscription Required)

______________

Newspapers:

Carlos Slim Is a Wizard at Rescuing Beleaguered Companies During a Downturn
(DBN Subscription Required)

______________

Executive Compensation:

Bailed-Out Bank Tries Golden Parachute Loophole
(DBN Subscription Required)

______________

 

New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Court Web/Pacer Site Directory

Chapter 7, 12 & 13 Private Trustee Locator
(DBN Subscription Required)

Recent Ch. 11 Filings
(DBN Subscription Required)

Bankruptcy Jobs:

(1)- (2)- (3)- (4)- (5)- (6)- (7)- (8)- (9)- (10)
(DBN Subscription Required)

____________

Municipalities:

Towns Rethink Self-Reliance as Finances Worsen
(DBN Subscription Required)

______________

Bankruptcy Reform:

Senate Judiciary doesn't act
(DBN Subscription Required)

______________

Venue:

Debtors still overlook Chicago
(DBN Subscription Required)

______________

Tech:

Mac clone maker Psystar files for bankruptcy
(DBN Subscription Required)

Recession suddenly humbles high-tech sector
(DBN Subscription Required)

______________

Rating Agencies:

Rating Agencies Bring Bad News
(DBN Subscription Required)

______________

Mining:

Grupo Mexico puts aside $1.3 bln for Asarco bid
(DBN Subscription Required)

Harbinger Wins Approval to File Asarco Reorganization
(DBN Subscription Required)

______________

Retailing:

A high-stakes battle is brewing for off-price clothier Filene's Basement
(DBN Subscription Required)

Borders Loss Widens Dramatically on Charges
(DBN Subscription Required)

An extra DIP
(DBN Subscription Required)

Stocks of Retailers Surge on Consumer Optimism
(DBN Subscription Required)

______________

Oil/Gas:

Oil rises to 6-month high above $63
(DBN Subscription Required)

New Oil Shock is "Inevitable"
(DBN Subscription Required)

Shell Unveils Major Restructuring
(DBN Subscription Required)

Hottest Oil Options Show 16% June Drop as OPEC Cheats, Storage Tanks Bulge
(DBN Subscription Required)

______________

Hotels:

South Florida hotels' revenues dismal
(DBN Subscription Required)

______________

Gambling:

Casino visitors cut back in A.C.
(DBN Subscription Required)

______________

Health Care:

No 11th-hour reprieve for Northeastern Hospital
(DBN Subscription Required)

______________

Publishing:

Worried book industry gathers for convention
(DBN Subscription Required)

______________

Televisions:

Controversy Still Dogs Syntax-Brillian
(DBN Subscription Required)

______________

Hip Hop:

Culture of Bling Clangs to Earth
(DBN Subscription Required)

______________

Celebs:

OJ appeals Nevada armed robbery, kidnap conviction
(DBN Subscription Required)

______________

Golf:

Super Nachos at the Country Club
(DBN Subscription Required)

______________

Student Debt:How your undies track the recession
(DBN Subscription Required)

Indebted Grads' Steep Climb
(DBN Subscription Required)

Recession Puts Loan Forgiveness Programs in Peril
(DBN Subscription Required)

______________

Personal Finance:

High school students pinch prom pennies
(DBN Subscription Required)

For Children, Recession Can Ripple Through Lifep
(DBN Subscription Required)

______________

Credit Cards:

Moody's Investors Service warned that Citigroup Inc.'s credit-card business will likely need further capital injections from its parent
(DBN Subscription Required)

______________

Lehman:

Lehman US, UK units at odds over bankruptcy
(DBN Subscription Required)

Richard Fuld Not Selling His Park Avenue Apartment After All
(DBN Subscription Required)

______________

Pensions:

Let Social Security Go Bankrupt
(DBN Subscription Required)

America's looming retirement crisis
(DBN Subscription Required)

______________

Accounting:

Judge Rejects Challenge to $522 Million Award Against BDO Seidman
(DBN Subscription Required)

Bonuses plummet for audit and compliance
(DBN Subscription Required)

_____________

Morality:

Moral Bankruptcy
(DBN Subscription Required)

______________

Radio:

Radio station owner fights asset liquidation
(DBN Subscription Required)

______________

UK:

Bradford & Bingley Plans to Skip Interest on Subordinated Bonds
(DBN Subscription Required)

Bradford & Bingley, the delinquent bank
(DBN Subscription Required)

Hudson leaves Begbies for Baker Tilly
(DBN Subscription Required)

First-time buyers lose hope of ever owning home
(DBN Subscription Required)

U.K. Banks Approved More Home Loans in April as Mortgage Market Stabilized
(DBN Subscription Required)

Graduates and school leavers face crunch
(DBN Subscription Required)

U.K.'s Millionaire Club Shrinks by Half as Housing, Bonuses, Markets Slump
(DBN Subscription Required)

______________

EU:

French Confidence Rises; Italians Most Optimistic Since 2007
(DBN Subscription Required)

Europe is a downer for world economic recovery
(DBN Subscription Required)

______________

Japan:

Moody's rating move on Japan starts alarm bells ringing in the West
(DBN Subscription Required)

Sony suffers Moody's downgrade
(DBN Subscription Required)

______________

Germany:

German Regulator Says Bank Debts May 'Blow Up'
(DBN Subscription Required)

Creditors have the last word, Hertie's shuts its doors
(DBN Subscription Required)

______________

Canada:

Bank Lending to Canadian Business Slowed in April
(DBN Subscription Required)

______________

Hong Kong:

Hong Kong Counters Slump With HK$16.8 Billion Relief Package
(DBN Subscription Required)

______________

Russia:

Russia's Oleg Deripaska Close to Debt Restructure Deal
(DBN Subscription Required)

Russian oligarchs' debt and asset battles
(DBN Subscription Required)

______________

Latvia:

Latvian ------- Signal No Recovery for Economy
(DBN Subscription Required)

______________

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
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 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.

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).