November 4, 2009

The Daily Bankruptcy News

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Law:

NY BigLaw Firm, Hedge Fund Settle Legal Fee Dispute
(DBN)

Most Profitable Firm Promotes Bankruptcy Lawyer to Partnership
(DBN)

With no debt, but hefty capital calls, K&L Gates may be the model recession-era law firm
(DBN)

Receiver Takes Over Fla. Law Firm as Investors Reveal Pitches
(DBN)

Montali Puts On the Brakes While Heller Sides Mediate
(DBN)

An Attorney-Client Smackdown Grows in San Diego
(DBN)

5th Circuit Judge to Stanford Receiver: You're Nobody
(DBN)

Linklaters Dominates U.K. Bank Restructuring
(DBN)

Magic circle trio advise Lloyds and RBS on £54.5bn banking shake-up
(DBN)

BofA's counsel had no 'legal' authority in Merrill deal
(DBN)

Bankruptcy of Caterer at Heart of High Court Case
(DBN)

Informal Talks Mull Permanent 1-Year Public-Interest Stints for Associates
(DBN)

Morgan Lewis Delays the Death of Lockstep
(DBN)

Boston College Law School Has A Plan For Its Jobless 1Ls and 2Ls
(DBN)

Further Deferrals at Winston & Strawn (Plus other goings-on at the firm.)
(DBN)

The Deferred: Go West, Young Lawyer
(DBN)

Number of UK students starting law courses reaches new high
(DBN)

Law Firm Leader ‘Quite Honestly Surprised’ at Cravath Bonuses
(DBN)

After Cravath: What Happens Next in Bonusland?
(DBN)

Cravath Announces Bonuses; Big Drop for Some
(DBN)

Partner Bloodbaths Ahead? Wary of Collection Numbers? Deal With It
(DBN)

Law Firm Partner Loses Lawsuit Over Pay & Alleged Strip Club Outings
(DBN)

Law Firm Battles Back Against Heiress' Malpractice Claim
(DBN)

Miami Lawyer Says He Pointed Feds to Rothstein in Claimed $100M+ Scheme
(DBN)

Lawyer of the Day: Scott Rothstein
(DBN)

Back from Morocco, Rothstein faces feds
(DBN)

What's Going on at Rothstein Rosenfeldt?
(DBN)

Get Human, Get Paid
(DBN)

Litigator Takes Over King & Spalding's Silicon Valley Office
(DBN)

Solo and Small Firm Attorneys Branch Out to Make Ends Meet
(DBN)

Oft-Sanctioned Local Lawyer Does It Again
(DBN)

Ex-DLA, Duane Morris Partner Facing Forgery Trial in Singapore
(DBN)

‘Tis the Season for Horrible Gift Ideas
(DBN)

Graduate from ‘Tier 1’ Law School Decides Education is Worth $0
(DBN)

Court upholds crucifixion sentence
(DBN)

Am Law Tech Survey 2009
(DBN)

Joke About Portly Prosecutor Proves Costly for NYC Lawyer
(DBN)

Watch out "hot babes"-this one likes to do "stuff"
(DBN)

Missing Lawyer and Her Husband Are Declared Dead
(DBN)

O'Quinn to Leave Bulk of Estate With Charities
(DBN)

Say What?!
(DBN)

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Judges:

Ex-Judge Disbarred in Corruption and Cocaine Scandal Faces New Felony Charges
(DBN)

Man Gets Six Months For Flipping Off Judge
(DBN)

Disbarred Lawyer Again Faces Charges of Possessing Forged Signature of Judge
(DBN)

Justice of Peace Who Refused to Marry Interracial Couple Resigns
(DBN)

Justices split on Series
(DBN)

Federal judges pursue judicial pay dispute in appeals court
(DBN)

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Wall Street:

Stock-Index Futures Rise
(DBN)

Asia stocks rise as China growth forecast upgraded
(DBN)

Global Banking Fears Lead to Mixed Results
(DBN)

Mystery of Rising Stock Market
(DBN)

Investors are bidding up stocks, gold, and oil to dizzying heights. It's deja vu all over again
(DBN)

IPOs Unravel
(DBN)

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Layoffs:

National and State by State Unemployment Rates
(DBN)

Nokia Siemens to Cut Up to 9% of Workforce
(DBN)

J&J Cuts at Least 7,000 Jobs as Consumer Spending Shrinks
(DBN)

Finance Layoffs: RBS, HSBC, CIT and more
(DBN)

Great job openings, no candidates
(DBN)

Underemployment Also a Major Problem
(DBN)

Employment Looks Better
(DBN)

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Fraud:

Madoff auditor pleads guilty and apologizes
(DBN)

Madoff's Accountant: I Knew Nothing About Ponzi Scheme
(DBN)

On tape, Petters said he feared mob would kill him
(DBN)

Scott Rothstein Returns to 'Fraud Lauderdale'
(DBN)

Stanford un-knighted
(DBN)

SEC Lets Execs In Fraud Settlement Go Free
(DBN)

Giuliani Seeks To Cash In On Wealthy-Investor Fears
(DBN)

Access Co-Founder Patrick Littaye Charged in French Madoff Investigation
(DBN)

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Cruise Lines:

Royal Caribbean's Profit Falls
(DBN)

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Gambling:

Plan delays Greektown bankruptcy hearing
(DBN)

Greektown Turnaround Plan Challenged by Manulife Noteholders
(DBN)

Las Vegas Strip braces for CityCenter impact
(DBN)

Fontainebleau May Appeal Lawsuit Rulings
(DBN)

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Telecoms:

Nokia Siemens Said to Be Considering Bid for Nortel Business
(DBN)

FairPoint bond brawl
(DBN)

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Ethanol:

Ethanol bankruptcy bittersweet
(DBN)

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Oil/Gas:

Independent directors say they've ousted the chief executive and his wife
(DBN)

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Economy:

Fed Likely to Signal Economy Improving, Keep Interest Rates Low
(DBN)

Is Warren Buffett calling a bottom?
(DBN)

Buffett's Big Bet on America
(DBN)

Has Buffett Overplayed His Hand?
(DBN)

US Factory Orders Rise for Fifth Time in Six Months
(DBN)

After flurry of stimulus spending, questionable projects pile up
(DBN)

UN: Global Wages Falling This Year
(DBN)

Service Industries in U.S. Probably Expanded as Economic Recovery Spread
(DBN)

Study: 50% of US Kids Will Get Food Stamps
(DBN)

If the economy's stagnant, why are stocks up? The answer is disturbing.
(DBN)

Economic Stress Index
(DBN)

Economy Tracker Map
(DBN)

US Debt Clock
(DBN)

Recovery Index
(DBN)

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Real Estate:

CIT Bankruptcy Won't Pose an Immediate Threat to Retail Landlords
(DBN)

Loan modification guidelines: Bank lifeline or license to lie?
(DBN)

Feds announce surge in mortgage fraud prosecutions
(DBN)

'Tip of the iceberg' mortgage fraud investigation nets 32 in Lee, Collier
(DBN)

Kansas Fed Economists Critical Of House Financial Regulation Overhaul
(DBN)

Injunction against Mass. subprime lenders upheld
(DBN)

More Walk Away from Homes, Mortgages
(DBN)

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Autos:

White House: Taxpayers will be repaid for 'some' of auto bailout
(DBN)

UAW hopes for GM IPO "sooner rather than later"
(DBN)

GM U.S. auto sales up 4%; Ford sales rise 3%; Chrysler down 30%
(DBN)

Chrysler, Lagging Rivals, to Unveil Recovery Plan
(DBN)

Former Chrysler dealers hold on for compensation
(DBN)

The coming explosion at Chrysler
(DBN)

Chrysler's Marchionne Said to Forecast Profit by End of 2011
(DBN)

As Chrysler sits on blocks, what will Fiat do to fix it?
(DBN)

Slowdown pressures entire auto sector
(DBN)

Dura eyes suppliers, sees consolidation
(DBN)

Auto supplier Dana Corp. reports $38M loss
(DBN)

You Got A Heckuva Deal There, But What's The Resale Value?
(DBN)

Iron Mountain debts continue to climb
(DBN)

Court papers outline where Hecker was planning to get his money
(DBN)

Merkel Suffers Blow as GM Opts to Keep Opel, Shunning Magna
(DBN)

Jilted Germans React Angrily to GM Decision to Keep Opel
(DBN)

Opel already repaid part of state loan -trustee
(DBN)

GM's U-turn on Opel sale sparks German backlash
(DBN)

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Exemptions:

Schwab v. Reilly Overview
(DBN)

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Corporate Reform:

Evans and Wright on the CFPA: Round 2
(DBN)

Frank Floats Warren To Head Consumer Agency
(DBN)

Small business may get permanent Sarb-Ox relief
(DBN)

US Rules Revamp Gains as Frank Sets Vote, Senate Bill Readied
(DBN)

Opponents of financial reform anger FDIC chief
(DBN)

Frank: Measure Requires Naming Risky Firms
(DBN)

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Compensation:

Fed Gives Wall St. Deadline on Pay Plan
(DBN)

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Finance:

CIT Group Judge Allows Loans, Fast-Track Bankruptcy
(DBN)

CIT bankruptcy plan may win OK at Dec. 8 hearing
(DBN)

Regulators Face Pressure To Act After CIT Bankruptcy
(DBN)

CIT bankruptcy could have domino effect
(DBN)

CIT Group's biggest hurdle is keeping customers
(DBN)

Early CIT Shorts Enjoy Their Day
(DBN)

Default Swaps Contracts Over $3B Triggered By CIT Bankruptcy
(WSJ: separate paid subscription required)

CIT default swaps will be settled by auction-ISDA
(DBN)

CIT Retirement Plan To Remain Ongoing, Under Firm's Control
(DBN)

White House Notes 'Stake' In CIT Bankruptcy Proceeding
(WSJ: separate paid subscription required)

US trustee names Capmark creditors' committee
(DBN)

Companies Play Credit Catch-Up
(DBN)

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Food/Drink:

New World Pasta Survives Bankruptcy
(DBN)

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Boating:

Committee supports sale of Genmar assets
(DBN)

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Retailing:

In October, Signs of Life at Retailers
(DBN)

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Symphonies:

Honolulu Symphony could file for Chapter 11 this week
(DBN)

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Mass Torts:

San Francisco Superior Court proposes separate section for asbestos suits, 45 percent of its civil jury docket
(DBN)

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Fashion:

Who will save Escada?
(DBN)

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Debt Collection:

Calif. Debt Firm Settles Pa. Class-Action Suit
(DBN)

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Aviation:

Continental president says airline would consider merger with United
(DBN)

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New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings
(DBN)

Bankruptcy Jobs:

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

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Bankruptcy Statistics:

October Personal Bankruptcies Highest Since 2005 Law Changes
(DBN)

CIT's Own Bankruptcy Exacerbates Rising Business Bankruptcies
(DBN)

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Small Business:

An Economist's Prescription for Aiding Small Business
(DBN)

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Politics:

Vast Economic Discontent Spells Trouble for Dems in 2010
(DBN)

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Banking:

Banking Break-Up Is Template for Obama's Zombies
(DBN)

States Pondering Lawsuits Against Banks
(DBN)

Sterling hikes loan-loss provisions
(DBN)

Is BofA headed for the Big Apple?
(DBN)

Bank of America Charging 279% Interest
(DBN)

IMF: Banks Haven't Learned Any Lessons
(DBN)

Profit `Not Satanic' Barclays Chief Says After Goldman Sachs Invokes Jesus
(DBN)

Colbert Nation To The Rescue
(DBN)

When Banks Fail, So Do Those Promised CD Rates
(DBN)

HSBC says it will axe 1,700 jobs in UK
(DBN)

SocGen misses profit forecast as bid talk returns
(DBN)

Staff pay as RBS is held to account for a right royal mess
(DBN)

Disgruntled RBS Staff Call In Headhunters
(WSJ: separate paid subscription required)

Europe, the U.S. and breaking up the banks
(DBN)

UBS: Another Loss, but Claims Improvement
(DBN)

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Municipalities:

$20M shortfall revealed after mayor's conviction
(DBN)

______________

Newspapers:

Tribune: "We don't expect the ESOP to continue once the company emerges from bankruptcy"
(DBN)

Locals wage legal fight to keep Philly newspapers
(DBN)

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Health Care:

Proposed law would require pay for sick workers
(DBN)

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Magazines:

Ascend Media Files for Chapter 7 Liquidation
(DBN)

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Trucking:

YRC Worldwide Stock Plunges
(DBN)

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Accounting:

Madoff's Accountant Acknowledges Guilt, Casts Himself as Victim
(DBN)

Madoff auditors receive "permanent injunctions"
(DBN)

Another Lawsuit Against Deloitte Is Back from the Dead
(DBN)

No grumbling from accountants over pay freezes
(DBN)

Poor communication may have contributed to financial crisis
(DBN)

Moodys: Accounting makes companies' figures hard to assess
(DBN)

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Rail:

Buffett Bets Big on Railroads’ Future
(DBN)

Buffett's Lower Burlington Breakup Fee Shows Confidence in Deal
(DBN)

Evercore lands massive Burlington-Berkshire deal
(DBN)

Behind Buffett's Rail Bet
(DBN)

What does Buffett see in railways?
(DBN)

______________

Credit Counseling:

Debt Settlement Industry Addresses Concerns of Attorneys General
(DBN)

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UK:

Brown Says Second Bank Bailout Will Save UK Money
(DBN)

UK Is Big Winner with Lloyds Fees
(DBN)

RBS vs. Lloyds: Capital Plans, Bonuses, Asset Sales
(DBN)

Lloyds and RBS: the details
(DBN)

Insurers show interest in RBS and Lloyds asset sale
(DBN)

Draft Insolvency Amendment Rules (with commentary)
(DBN)

Banking bailout cost every family £4350
(DBN)

RBS and Lloyds sell-off plans could lead to 25,000 job losses
(DBN)

Bank bailouts: How they happened
(DBN)

The Explicit Price of Implicit Support
(DBN)

U.K. Services Index Rises to Highest in Two Years
(DBN)

Banks Get Billions More For Bonus Crackdown
(DBN)

RBS, Lloyds Bonus Caps May Prompt Pay Retaliation
(DBN)

RBS & Lloyds: the cost to you
(DBN)

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EU:

European Manufacturing, Services Expanded in October
(DBN)

______________

Canada:

NDP to call for bankruptcy pension protection
(DBN)

Canwest, Goldman Sachs in legal row
(DBN)

______________

China:

Could China's Policies Trigger Another Crisis?
(DBN)

______________

Hungary:

David Dederick Finds Silver Lining in Hungarian Financial Crisis
(DBN)

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Australia:

Australia Raises Rates for 2nd Consecutive Month
(DBN)

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