January 15, 2010

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:

Despite Down Economy, Law Firms Say They'll Raise Billing Rates
(DBN)

Departing DLA Piper Partners: High Rates (Not Associate Compensation) Responsible for Client’s Concerns
(DBN)

New Deloitte research shows falling fee income at top firms in Q2
(DBN)

Bankruptcy Fees: How Much Is Too Much?
(DBN)

K&L Gates Passes $1 Billion in Revenue
(DBN)

Eversheds gears up to launch its own outsourcing business
(DBN)

"Awards" to Eversheds and Shoosmiths
(DBN)

Will Law Firm Profits Be Up in 2009? At Locke Lord, Yes
(DBN)

As JAL Bankruptcy Looms, Firms Flock to Advise Clients
(DBN)

Seyfarth Cuts 20 Lawyers, 20 Staff Members Nationwide
(DBN)

Freshfields Event Takes Unexpected Turn
(DBN)

Freshfields heads 2009 deal rankings as Euro M&A manages revival in Q4
(DBN)

Dickstein Shapiro: New Salary Structure Leaves A Lot of Questions
(DBN)

Fla. Bar Probes at Least 35 Lawyers in Alleged Ponzi Schemer’s Firm
(DBN)

Howrey to Collect $1M in Legal Fees from Ex-Gov., McDermott Partner Weld
(DBN)

Haiti Veteran, Former Akin Gump Associate Discusses What Lawyers Can Do to Help
(DBN)

BigLaw Stepping Up on Haiti Aid
(DBN)

Am Law Firms Join Haiti Relief Effort
(DBN)

Lawyers Among Those Missing and Feared Dead in Haiti
(DBN)

Lateral Market Heating Up, but Will It Last?
(DBN)

Pls Bring Back Marin Thx
(DBN)

Recession? Ha!: Firm Drops $34 Million on New Digs
(DBN)

LA law firm says it was target of cyber attacks
(DBN)

Joseph Collins, Former Refco Lawyer, Gets Seven Years in Prison
(DBN)

Cohens' legal spat heats up
(DBN)

Former DOJ Fraud Section Chief Goes to Weil Gotshal
(DBN)

Cozen O'Connor Picks up Former TARP Official
(DBN)

Ex-Client Sues Debevoise for $55M re ‘Variety of Chimera & Boondoggles’
(DBN)

Apple's Top Corporate Lawyer Leaves
(DBN)

Baker & McKenzie Takes 237,000 SF at 300 E. Randolph
(DBN)

Haynes and Boone Represents Rise Energy Partners in Bankruptcy
(DBN)

Sweeping reforms proposed to cut UK litigation costs
(DBN)

Congratulations to the Newest Class of Skadden Fellows
(DBN)

Lawyer Makes North Face Butt of Ridicule
(DBN)

DLA ‘Working Lawyer’ Explains Why He and 8 Others Moved to Jackson Lewis
(DBN)

Florida Bar's RRA probe expands
(DBN)

A Speeding Ticket to Avoid
(DBN)

Fresh Young Grad Charts His Own Course: As a Solo
(DBN)

Am Law 100 Firm Launches Own iPhone App
(DBN)

______________

Judges:

It's Judge vs. Judge in Case of Bankrupt Law Grad
(DBN)

A Benchslap for Kirkland & Ellis, from Judge Posner and the Seventh Circuit
(DBN)

Posner Blasts ‘Out of Control’ Class-Action Lawyer in Fee Fight
(DBN)

Judge Claims Head Trauma Caused Her to Forget Shooting Details
(DBN)

______________

Courts:

Hat and Gloves Are Necessary Workplace Attire at Some Courthouses
(DBN)

______________

Wall Street:

Stock futures mixed
(DBN)

Wall Street execs admit they didn't see it coming
(DBN)

Schapiro, Blankfein back single fiduciary standard for B-Ds, advisers
(DBN)

Goldman Sachs Responds to Naming of Bonus Recipients With Name-Calling
(DBN)

Goldman CEO admits 'improper' actions in sales of securities
(DBN)

The plight of the Wall Streeter
(DBN)

______________

Layoffs:

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

New jobless claims rise more than expected
(DBN)

Calgary-based energy company Suncor will cut another 1,000 jobs after laying off 1,000 in 2009
(DBN)

Pfizer is slashing 450
(DBN)

______________

Banking:

Obama determined to recover 'every dime the public is owed"
(DBN)

Signs of Trouble as Banks’ Earning Season Starts
(DBN)

FDIC head: 'Shadow banks' need regulation
(DBN)

Societe Generale warns on profits
(DBN)

SocGen Write-Down Sows Wider Fears
(WSJ: separate paid subscription required)

______________

Accounting:

The Year That Was at Crowe Horwath
(DBN)

Deloitte Starts Off the New Year with Some Generosity
(DBN)

Rumor Mill: More Ernst & Young Offices to Become 'Virtual'?
(DBN)

Rumor Mill: New Ernst & Young Office Requires Sterile Cubes, Secure Lavatories
(DBN)

But Does She Get a Key to the Bathroom?
(DBN)

Accountants Responsible for Two-thirds of Embezzlements
(DBN)

______________

Fraud:

Key Prosecutor in Galleon Case to Depart
(DBN)

After Madoff shortcomings, SEC reworks enforcement
(DBN)

A Mini-Madoff Who Worked the Pews
(DBN)

Stanford Receiver, SEC Ask Judge to Put Investor Suits on Hold
(DBN)

AG Holder Pressed on FBI's Mortgage Fraud Focus
(DBN)

FBI raids health care facilities in $14.5M Medicare fraud case
(DBN)

Judge: Ponzi scheme ruined communities
(DBN)

Prosecutors, Dreier Trustees Reach Liquidation Settlement
(DBN)

Rothstein Waives Conflicts, Admits Anti-Depressant Use as Probe Expands
(DBN)

Truth and No Consequences
(DBN)

______________

Personal Finance:

Pawnshops Flourish in Hard Times, Drawing Legislative Scrutiny
(DBN)

______________

Corporate Reform:

US financial crisis panel to call Greenspan, Cox
(DBN)

A Call for More Regulation at Fiscal Crisis Inquiry
(DBN)

Bankers Without a Clue
(DBN)

Regulators Admit Failures in U.S. Financial Crisis
(DBN)

Goldman CEO Admits Betting Against Securities They Sold to Investors
(DBN)

Heads of Wall Street Firms Deflect Blame for Crisis
(DBN)

Elizabeth Warren: Bank CEOs not admitting to failure
(DBN)

Few Burns for Four Bankers on the Hot Seat
(DBN)

Bernanke Defends Fed’s Oversight Role
(DBN)

Populism peters out on financial reform
(DBN)

How to avoid another financial crisis, from a man who made a fortune off the last one
(DBN)

Volcker Stands Up for Fed Role in Financial Oversight
(DBN)

______________

 

Economy:

Obama to Banks: `We Want Our Money Back'
(DBN)

We Want "Our" Money Back
(DBN)

Banks, experts eye possible ways around Obama fee
(DBN)

Payback Time
(DBN)

US bank tax surprisingly isn't dead on arrival
(DBN)

Taxing Banks for the Bailout
(DBN)

The Truth About The TARP Tax
(DBN)

US automakers not included in bailout bank fee
(DBN)

Are financial institutions asking for it?
(DBN)

Obama playing banks against taxpayers
(DBN)

Tax the banks: solution or knee-jerk policy?
(DBN)

BofA, JPMorgan May Pay $1.5 Billion for Obama Fee, Wisco Says
(DBN)

Rescuer presents rescued with the first bill
(DBN)

Retail Sales Fall Unexpectedly; Jobless Claims Up
(DBN)

Production in U.S. Probably Rose for Fifth Time in Six Months
(DBN)

Plosser Says Rate Rise Can't Wait for 'Acceptable' Unemployment
(DBN)

Geithner: Not involved in decisions on AIG disclosure
(DBN)

Geithner Agrees to Testify About AIG E-Mail Exchange
(DBN)

Geithner Gets a Bad Rap in the AIG Scandal
(DBN)

Business inventories rise 0.4 percent in November
(DBN)

Goldman Sachs CEO Says Geithner Never Asked Him About Taking a Haircut on AIG Swaps
(DBN)

Geithner: Right to pay AIG counterparties at par
(DBN)

Endless TARP? Watchdog Wonders When Bailout Will Really End
(DBN)

Economists: Muted Growth in '10
(DBN)

Jobs impact of stimulus disputed
(DBN)

Economic Stress Index
(DBN)

Economy Tracker Map
(DBN)

US Debt Clock
(DBN)

Recovery Index
(DBN)

Bailout Tracker
(DBN)

______________

Real Estate:

Fannie, Freddie Cost the Government $291bn in 2009
(DBN)

Which States Had The Most Foreclosures In 2009?
(DBN)

Foreclosures May Hit Another Record in 2010
(DBN)

Homeowners Say Banks Not Following Rules for Loan Modifications
(DBN)

BofA Permanent HAMP Modifications Jump from 98 to 3,200 in December
(DBN)

Payment Shock Concerns Grow as Billions in Interest Only Loans Face Recast Date
(DBN)

Rates on 30-year home loans fall to 5.06 pct
(DBN)

What Should Happen to Those Who Walk Away?
(DBN)

BofA: More Than 20K Borrowers On HAMP's 'Final Steps'
(DBN)

Stuy Town Debt Holders Give Tishman Speyer and BlackRock Ten Days to Pay
(DBN)

Illinois a leader in foreclosures
(DBN)

MI foreclosures soar despite effort to delay them
(DBN)

Once-hot Tribeca Five condo goes Chapter 11
(DBN)

Holiday moratoriums slowed California foreclosures in December
(DBN)

Tampa: Former NFL QB's failed condo project sold at 55 cents on dollar
(DBN)

Holder Touts Financial-Crimes Fight, Cites 2,800 Mortgage Fraud Probes
(DBN)

FBI Warned About Mortgage Fraud in 2004
(DBN)

Manhattan Apartment Rents Drop 9.4% as City Job Losses Mount
(DBN)

Height-of-Boom Subprime Performance Keeps Getting Worse: Moody's
(DBN)

_____________

Corporate Governance:

Delaware on defense
(DBN)

Bylaws May Contain Conditions to Grant of Advancements Rights that Supplement Advancement Rights in Charter
(DBN)

______________

Litigation:

Second Circuit Issues Rule 11 Ruling; Discusses Authority of Magistrate Judges to Impose Sanctions
(DBN)

______________

Resorts:

Vacation resorts abandon grand plans
(DBN)

Four Seasons Resort in Irving is posted for foreclosure
(DBN)

LeMond vs. Blixseth Battle Enters Another Round
(DBN)

______________

Rail:

Rail Carloads Fell 18 Percent in Two Years
(DBN)

______________

Trucking:

Arrow Trucking Relaunches Web Site
(DBN)

______________

Food/Drink:

High turnout at Tavern auction
(DBN)

______________

Gambling:

For first time, Detroit casinos show revenue decline
(DBN)

Company buys casinos at public auction
(DBN)

Indiana Gaming Commission approves Tropicana license
(DBN)

Tropicana to regain control of Aztar
(DBN)

______________

Hollywood:

'Terminator' bidding: Sony, Warner, Summit, Legendary may soon vie with Lions Gate
(DBN)

Production plummets in L.A. in 2009
(DBN)

Anil Ambani may bid for MGM to expand Hollywood footprint
(DBN)

______________

Municipalities:

California's debt rating cut to A-minus by S & P on budget woes
(DBN)

More and more states on budget brink
(DBN)

City of Vallejo Bankruptcy : A Model for LA's Financial Woes?
(DBN)

Contract dispute pushes Maywood to edge of bankruptcy
(DBN)

Tax issues strangle Pa. cities
(DBN)

______________

Packaging:

Judge Hears From Residents On Smurfit-Stone Plant Closure
(DBN)

Letters capture court's attention - Bankruptcy judge orders Smurfit to consider all alternatives to turning off power
(DBN)

Residents meet, wonder what the future holds in wake of Smurfit-Stone closure
(DBN)

Court gives Smurfit-Stone more time for reorganization
(DBN)

______________

Oil/Gas:

Commodity regulators back limits on energy trading
(DBN)

______________

Newspapers:

Doomed Deals Spark Tug-of-Wars Between Creditors
(DBN)

Village Voice Newspaper May Face Forced Bankruptcy in Ad Fight
(DBN)

______________

Taxicabs:

Iconic Checker Cab Company Shuts Down
(DBN)

______________

Telecoms:

FairPoint Again Delays Deadline For Filing Bankruptcy Plan
(DBN)

Biddeford Internet Company Requests FairPoint Investigation
(DBN)

______________

 

New Bankruptcy Opinions
(No new opinions 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)

______________

Bankruptcy Statistics:

Inland bankruptcies up 50 percent from 2008
(DBN)

______________

Bankruptcy Reform:

Espionage And Chapter 11
(DBN)

Congress Tinkering with the Bankruptcy Code (Again)
(DBN)

______________

Lehman:

Lehman Bankruptcy Advisers Paid $588.4 Million So Far
(DBN)

______________

Aviation:

Baggage fees fly higher as airlines pursue recovery
(DBN)

JAL's 2 main units to file for bankruptcy
(DBN)

Japan minister: to set JAL's "X-day" with PM Friday
(DBN)

Japan Air Turnaround Decision to Be Made on Jan. 19
(DBN)

JAL procures $1.59 bln from state bank credit line
(DBN)

Japanese businesses concerned at JAL bankruptcy
(DBN)

______________

Autos:

GM's Whitacre and his (not so) bold promises
(DBN)

Auction of Chrysler plant equipment set for Feb. 25
(DBN)

New life for dead industry
(DBN)

Trouble ahead for Chrysler, Ford and General Motors
(DBN)

Congressional panel criticizes GMAC bailout
(DBN)

Interview: Marchionne talks dealership closures, China
(DBN)

Protesters heckle Chrysler's Sergio Marchionne during speech in Detroit
(DBN)

UAW to sell famed retreat
(DBN)

______________

Health Care:

Despite financial success for some hospitals, recession concerns loom
(DBN)

Health jobs defy recession, grow in December
(DBN)

Jackson Health System faces more financial losses
(DBN)

N.J. hospitals report increase in patient visits, but not enough to prevent cut-backs
(DBN)

______________

Compensation:

Chicago Housing Nonprofit Exec Earned $685,000 in '08
(DBN)

Wall Street Pay For 2009 Will Be Higher Than Ever
(DBN)

Whose Bonuses Are They?
(DBN)

Congressman Proposes 50% Tax on Wall Street Bonuses
(DBN)

Total pay at U.S. banks and securities companies jumped nearly 18 percent to a record $145 billion in 2009
(DBN)

Citi Said to Cap Cash Bonuses at $100,000
(DBN)

"Where there is death and suffering, or merely bankruptcy and financial ruin, there, oddly enough, is Kenneth R. Feinberg"
(DBN)

Spotlight on Ken Feinberg: The Special Master of America
(DBN)

Anger over Wall Street's big bonuses resurfaces, despite Obama policies
(DBN)

Rep. Frank says panel will look at AIG bonuses again
(DBN)

Executive Bonuses: Empty Clawbacks?
(DBN)

______________

Retailing:

Retail Sales Unexpectedly Fall After Bigger Gain
(DBN)

Zale board fires 3 top executives
(DBN)

Signs Of Possible Financial Trouble At Bernie's
(DBN)

Shopping Centers Recovering Slowly
(DBN)

Bernie's Chain Files for Bankruptcy Protection
(DBN)

Crabtree & Evelyn gets approval to exit bankruptcy
(DBN)

______________

Video Rentals:

Movie Gallery to Shutter 1,000 Stores
(DBN)

______________

Public Transit:

Ambac May Owe Up to $1.2 Billion Because of Monorail Bankruptcy
(DBN)

______________

Radio:

Black Crow into Chapter 11
(DBN)

______________

Dotcom:

Second Circuit Keeps Alive Sad Ghosts of PressPlay, Netmusic
(DBN)

______________

Pensions:

Firms paid $125 mln in fees for Calpers business
(DBN)

Fate Of Some Pension Plans In Bankruptcy Angers Retirees
(WSJ: separate paid subscription required)

______________

Enron:

Judge moves retrial for Merrill Lynch exec in Enron case while dismissing case against another
(DBN)

______________

Boating:

Genmar: Unsecured creditors take big hit
(DBN)

______________

Hotels:

Famous D.C. Hotel Falls Into Special Servicing
(DBN)

Extended Stay exclusivity period extended
(DBN)

______________

Theme Parks:

Major new legal developments for Freestyle Park
(DBN)

______________

Tax:

Swiss Banks May Have Lost Billions With Amnesty
(DBN)

______________

Chemicals:

Lyondell Creditors Want Reliance Bid Evaluation Probe
(DBN)

______________

Sovereigns:

Sovereign Defaults Top 2010 Risk Hitlist for WEF
(DBN)

Panel warns of perils of ballooning debt
(DBN)

______________

UK:

Big Freeze Hits John Lewis Sales
(DBN)

Insurers appeal Scotland's pleural plaques ruling
(DBN)

______________

EU:

Are European Leaders All Freaking Out At Once Because They Saw The Same December Economic Data?
(DBN)

______________

Canada:

Canadians more cautious about debt than Americans
(DBN)

CanWest, rival deliver upbeat earnings results
(DBN)

Jones considered hitting up friends to repay clients
(DBN)

______________

Argentina:

Judge Freezes US Funds of Argentina Central Bank
(DBN)

______________

Poland:

Bankruptcies doubled in 2009
(DBN)

______________

 

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/Subscriptions
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 The 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.

The 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).