January 5, 2010

The Daily Bankruptcy News

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Law:

BigLaw Laid Off More than 12,000 People in 2009, the Worst Year Ever
(DBN)

Last Year in Layoffs
(DBN)

Legal Recruiters Expect 2010 Will Be a Busy Year
(DBN)

White & Case recruits 50-strong team for Berlin insolvency launch
(DBN)

Supreme Court Clerks Still Cashing In
(DBN)

Ex-Lawyer Who Fled Contempt Charges, Refused to Turn Over Files, Gets No Share of $1.2M Fee
(DBN)

Courtroom Incentives
(DBN)

Playing Defense, Milberg Lands a Win
(DBN)

Lawyer With Madoff Ties Wades into SAC Capital Fray
(DBN)

Comcast's top lawyer calls the workload shots
(DBN)

Morgan Lewis executive moves to new firm
(DBN)

A Litigation Boutique Grows in Manhattan
(DBN)

Thinking of Hiking Up Billable Rates? Here’s Why You Shouldn't
(DBN)

Maintaining integrity in the legal profession
(DBN)

10 Projections for 2010
(DBN)

The Post-Rodge Regime at Sullivan & Cromwell: Meet Joseph Shenker, S&C’s New Managing Partner
(DBN)

Latham & Watkins: True-Up Raises Are Official
(DBN)

Latham: We're Gonna Pay You Like 2009 Never Happened
(DBN)

$2.8M, $3.8M, or 'Several' - How Much Is AIG's Departing GC Going to Get?
(DBN)

Nationwide Salary Thaw: Arnold & Porter
(DBN)

A Bonus, A Salary Thaw, A Salary Freeze — It’s All Possible at Venable
(DBN)

Will Client Demand For Greater Value Lead to Meaningful Change Inside Law Firms?
(DBN)

ABA Prez Laments Young Lawyers ‘Squashed by Debt,’ Presses Deferment Idea
(DBN)

‘Void Where Prohibited’ Holiday E-Card Wins Kudos for Akin Gump
(DBN)

Lawyers Get Cyberstalked, via Twitter
(DBN)

Two Chief Justices Have One Word of Advice for Solos: Unbundling
(DBN)

Say What?!
(DBN)

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Judges:

Judge Wants His Old Job Back After Being Acquitted of the Charges He Resigned Over
(DBN)

Ex-Ariz. Justice to Referee Suits Against Phoenix Judges in ‘Christmas Truce’
(DBN)

Federal Judge Sanctions ‘Obsessed’ Lawyer $110K Over Recusal Claims
(DBN)

Famed Mississippi Judge to Report to Prison
(DBN)

Antonin Scalia listens to Bach while writing opinions
(DBN)

On Justice Sonia Sotomayor: ‘Not Swinging for the Rafters’
(DBN)

Threats against federal judges, prosecutors are up
(DBN)

Man Says Judge Arrested Him 'On a Hunch'
(DBN)

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Courts:

Gunman shoots two federal employees at Las Vegas courthouse
(DBN)

Federal Courthouse Closed Due to White Powder Found in Envelope
(DBN)

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Wall Street:

US Stock-Index Futures Little Changed Before Economic Data
(DBN)

Signs of Economic Growth Buoy Stock Market
(DBN)

Manufacturing Data Helps Invigorate Wall Street
(DBN)

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Layoffs:

National and State by State Unemployment Rates
(DBN)

Laid-off workers struggling to keep COBRA benefits
(DBN)

Finance Layoffs & Hirings: Goldman Sachs and more
(DBN)

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Litigation:

Second Circuit Calls for a State Court Assist in Refco Trustee Suit Against Mayer Brown and Auditors
(DBN)

Securities Suits Drop as Credit-Crunch Cases Dry Up, Study Says
(DBN)

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Banking:

Bank of America Judge Bars Testimony of News Reports
(DBN)

Changing Of The Guard In Banking
(DBN)

Chinese Banks Thrive While Western Banks Dive
(DBN)

Banks take losses on short sales
(DBN)

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Corporate Reform:

US SEC names PwC executive to lead exams unit
(DBN)

Dems, Wall Street water down financial reform
(DBN)

U.S. financial scandals seen sparking 2010 zeal
(DBN)

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Resorts:

Creditors file objections in Daufuskie Island resort bankruptcy
(DBN)

Blixseth's Son Leads New $24B Lawsuit Against Credit Suisse
(DBN)

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Gambling:

Icahn, Beal Bank file rival Ch 11 plan for Trump Entertainment
(DBN)

Fontainebleau Las Vegas seeks third exclusivity extension
(DBN)

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Economy:

Another Decade of Bubbles Coming
(DBN)

Stiglitz: Crisis Exposed Flaws in Economics
(DBN)

Bank of America CEO Expects Recovery to be Slow
(DBN)

The Recession Movie
(DBN)

Bernanke's Ivory Tower Doesn't Have a Mortgage
(DBN)

Credit index finds 'mild progress' in economy
(DBN)

Recession Far From Over, Says Legal Directory Avvo’s Consumer Data
(DBN)

More forecasting: still "a ways to go" before bottom
(DBN)

Social Security surplus declining more rapidly than expected--now 7 years ahead of schedule
(DBN)

Economic Stress Index
(DBN)

Economy Tracker Map
(DBN)

US Debt Clock
(DBN)

Recovery Index
(DBN)

Bailout Tracker
(DBN)

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Real Estate:

Lawsuit filed against bank over lending practices
(DBN)

Phoenix's CityNorth development goes into foreclosure
(DBN)

1.8 Million California Mortgages Underwater
(DBN)

Construction Activity Fell in November
(DBN)

Mortgage Modifications: Help or Hindrance?
(DBN)

‘Foreclosure Mills’ Use ‘Assembly-Line’ Litigation Process
(DBN)

Comparing distressed properties to new homes hurts sales
(DBN)

Commercial real estate will not cause another recession, expert says
(DBN)

CMBS Delinquencies Grew Above $37B In November
(DBN)

CRE Decline to Slow in 2010, Grubb & Ellis Forecasts
(DBN)

Plunging home prices pull Manhattan buyers back in
(DBN)

DFW Apartment Vacancies Highest in 20 Yrs
(DBN)

Silicon Valley 'Bloodbath' Leaves Entire Office Buildings Empty
(DBN)

2010 Housing Outlook: Kicking the Can Down the Road
(DBN)

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Automatic Stay:

Hey, That’s My Automatic Stay!
(DBN)

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Tax:

H&R Block, Jackson Hewitt Must Register With US IRS
(DBN)

Corporate Tax Returns to Face More Scrutiny
(DBN)

Ex-UBS Banker Birkenfeld Ordered to Prison Jan. 8
(DBN)

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Aviation:

Continental Chief Waives Pay Till Airline Turns Profit
(DBN)

Continental Says Traffic Rose 6 Pct in December
(DBN)

Bratislava court cancels bankruptcy proceedings for low cost airline SkyEurope
(DBN)

Japan Airlines near to rescue deal that could leave British Airways in the lurch
(DBN)

The government should let the courts decide the fate of Japan's flagship airline
(DBN)

Japan digs deeper for struggling airline
(DBN)

AMR Says It's Still in Alliance Talks With Japan Air
(DBN)

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Autos:

A Reassessment of Bankruptcy Reorganization after Chrysler and General Motors
(DBN)

Ford Shifts Retiree Health Liability to UAW Trust
(DBN)

Photographers, Web designers adjust as automakers cut back
(DBN)

Seeking more cash for their clunkers
(DBN)

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Food/Drink:

Tavern on the Green Can Auction Assets, Judge Says
(DBN)

P&C union objects to Price Chopper bid
(DBN)

Party-Goers Bid Farewell To 2009…And Tavern On The Green
(DBN)

Bidding for Penn Traffic stores, including Valley P&Cs, extended until end of January
(DBN)

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Oil/Gas:

Over 2000 Acres of Oklahoma Oil and Gas Leases Set for Bankruptcy Auction
(DBN)

Express Energy Services Emerges From Chapter 11 Reorganization
(DBN)

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Retailing:

General Growth Bulls and Bears Clash on Valuation
(DBN)

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Compensation:

Pay for top CEOs outpaces inflation by 70%
(DBN)

Top CEOs average $7.3M a year
(DBN)

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Sovereigns:

Sovereign Debt, Hither and Yon
(DBN)

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Hedge Funds:

Tepper Turns Panic to Profits With $6.5 Billion Hedge Fund Gain
(DBN)

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Accounting:

GASB Finalizes Standards for Retiree Benefits, Municipal Bankruptcy
(DBN)

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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)

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Bankruptcy Statistics:

2009 Bankruptcies Total 1.4 Million, up 32 Pct
(DBN)

Bankruptcy 2009: 7th Worst Year on Record
(DBN)

More Ga. Bankruptcies Filed By Higher Income Households
(DBN)

Utah's jump in 2009 bankruptcies fifth-worst in U.S.
(DBN)

South Florida bankruptcies rose 28 percent last year
(DBN)

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Prepacks:

The Quickie Bankruptcy
(WSJ: separate paid subscription required)

______________

Culture:

We Need To Bring Back Losing
(DBN)

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Directories:

Idearc exits bankruptcy , renames itself SuperMedia
(DBN)

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Telecoms:

Why Did Nortel File for Bankruptcy Protection?
(DBN)

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Pensions:

H&R Block to Refund Up to $19 Million to Settle Suit
(DBN)

______________

Pickup Truck Racing:

1000-Horsepower Dragster Pickup Can't Outrun Bankruptcy
(DBN)

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Building Materials:

Building Materials Exits Chapter 11 Protection
(DBN)

Int'l Aluminum, window producer, files Chapter 11
(DBN)

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Hotels:

Distressed Florida Hotel Headed to Foreclosure Auction
(DBN)

______________

Credit Cards:

Credit Card Default Rate at Bank of America 13 Percent Higher than Major Competitors
(DBN)

Credit card changes to spur more frugality?
(DBN)

______________

Newspapers:

Trib Goes for a Buck in Two Weeks
(DBN)

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Trucking:

Denial or "deer in the headlights" inexperience the reason for a "Broken Arrow"?
(DBN)

YRC and the Street's Appetite for Destruction
(WSJ: separate paid subscription required)

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Insurance:

Court upholds arbitration ruling in reinsurance dispute
(DBN)

KPMG liquidators called in at Bermudan reinsurer
(DBN)

CFOs fear 'double dip' economy
(DBN)

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Academia:

Is the Bankruptcy Code an Adequate Mechanism for Resolving the Distress of Systemically Important Institutions?
(DBN)

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Health Care:

How to Get Prescription Drugs on the Cheap
(DBN)

______________

Theme Parks:

Owners of former Hard Rock Park file motion to compel
(DBN)

Hard Rock Park's trustee says Freestyle Music Park owes
(DBN)

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Glass:

Auction for Sale of Arch's Assets Scheduled for January 13 in Miami
(DBN)

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UK:

Bankruptcy hanging like a cloud over Labour's election campaign
(DBN)

In depth: Restructuring and insolvency
(DBN)

Celebrity property tycoon investigated over company collapse
(DBN)

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Norway:

Record number of bankruptcies in Norway
(DBN)

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Russia:

Bankrupt Factory City Keeps Humming, Courtesy of the Kremlin
(DBN)

50% tax is here to stay says Darling
(DBN)

______________

Serbia:

Serbian Parliament passes new law on bankruptcy
(DBN)

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Australia:

Griffin Bondholders May Get 40% Recovery, Nomura Says
(DBN)

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