June 18, 2010

The Daily Bankruptcy News

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Law:

Staff Layoff Watch: Jones Day Draws The Curtains on 30+ Staffers
(DBN)

60 layoffs as Eversheds outsources finance team
(DBN)

Akerman Senterfitt Gets BP Work, Acquires Two Butzel Long Offices
(DBN)

Revenue drops 7 per cent at SJ Berwin, PEP nudges up
(DBN)

Deloitte survey shows Q4 fee income upturn for UK firms
(DBN)

Contingent fee bankruptcy attorneys underpaid in New York case
(DBN)

The Maturation and Saturation of the Legal Market
(DBN)

The American Magic Circle in London
(DBN)

Summer at Skadden
(DBN)

Cautionary Note to Summers: Careful What You Wish For
(DBN)

White & Case and Bakers head up $12bn Kazakh bank restructuring
(DBN)

Is BigLaw Still a Man's World?
(DBN)

Global Survey of In-House Lawyers Shows Where the Money Is
(DBN)

Drinker Biddle Wins $1.34 Million in Fee Feud with Pepper Hamilton
(DBN)

White & Case Gets First Crack At Sam Zell
(DBN)

Manatt Tries to Beat Back Malicious Prosecution Lawsuit
(DBN)

Did Fried Frank Discriminate Against Older Secretaries?
(DBN)

Winstead law firm to move Uptown
(DBN)

N.Y. Appellate Panel Rules Kasowitz Did Not Defame Former Partner
(DBN)

Law Firm Letterhead Can Imply Threat, Magistrate Rules
(DBN)

Saville inquiry finally reports, law firms kiss goodbye to gravy train
(DBN)

Moving Up: Big Law's Constant Climb
(DBN)

Faint Heart Never Won Fair Maiden a Big Court Case
(DBN)

Seven BigLaw Brides for Seven BigLaw Brothers?
(DBN)

Motion to Acquit Ex-Partner of Arent Fox in Obstruction Case Over Lawyer’s Death is Denied
(DBN)

Ex-Red Wings Star Fedorov in Foreclosure, Blames Law Firm for Loss of $60M
(DBN)

Yes - It is Time to Re-think Expenses
(DBN)

16 Years After Being Disbarred, Lawyer Wins Reinstatement
(DBN)

Employers May Benefit From Lawyers' Feud Over Bonus
(DBN)

UK’s Biggest Immigration Firm Not Too Big to Fail, Leaving 10,000 Cases in Limbo
(DBN)

Lawyer Sentenced to Prison for Losing $2M in Client Money in Day Trading
(DBN)

Is Debrahlee Lorenzana’s Former Lawyer a Creepy Dude?
(DBN)

'A-Plus Damages Case' Lost in 'Perry Mason' Style
(DBN)

From Contract Attorney to Captain Cupcake
(DBN)

Jailed Ex-Lawyer’s $1M Restitution is Reduced By $350 Taken From His Prison Store Account
(DBN)

Can In-House Counsel Serena Palumbo Be The Next Food Network Star?
(DBN)

‘Career Switchers’ Teacher Training Program Is Attracting Lawyers
(DBN)

New Tuition Trend: Will 1Ls be Willing to Subsidize 3Ls?
(DBN)

Torturing an Innocent Man
(DBN)

Texas Court Orders DNA Test in Execution Case
(DBN)

This guy must've failed his persuasive writing class
(DBN)

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Judges:

Once a Justice, Always a Justice?
(DBN)

Should Retired Justices Be Called Back to Supreme Court?
(DBN)

The Supreme Court's personal touch
(DBN)

Choreographing Kagan's path to confirmation
(DBN)

Judiciary chairman expects July vote for Kagan
(DBN)

Supreme Court’s NLRB Ruling Raises Questions About Hundreds of Decisions
(DBN)

Judge is Arrested for Allegedly Using Traffic Fine Money to Pay Personal Credit Card Bill
(DBN)

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Courts:

Manhattan Federal Court Gets a New Address!
(DBN)

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Wall Street:

 

Stocks Stabilize Before Close
(DBN)

Street Slides As Jobs Data Sinks In
(DBN)

Alan C. 'Ace' Greenberg's 'The Rise and Fall of Bear Stearns'
(DBN)

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Layoffs:

Jobless Claims Rise Sharply To 472,000
(DBN)

Michigan jobless rate has biggest one-month drop since 1983
(DBN)

Today's "Mancession" will change everything
(DBN)

Oil rig workers forced to job hunt after drill ban
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

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Corporate Reform:

Fund to wind down troubled banks at issue
(DBN)

House Negotiators Push For Fund To Dissolve Risky Firms
(DBN)

Prepaid fund to cover future financial collapses nixed
(DBN)

So … What About That Wall Street Crackdown?
(DBN)

The Fed drops the ball on consumer protection
(DBN)

Lawmakers Take Step Toward Agreeing on Greater Fed Disclosure
(DBN)

House-Senate negotiators hit impasse on fiduciary standard
(DBN)

Expanded Fed Audit Gains Momentum
(DBN)

Senators reject presidential OK for NY Fed chief
(DBN)

House and Senate to battle over 'too-big-to-fail'
(DBN)

How Wall Street reform falls short
(DBN)

Senate seeks to only allow investors with a 5% stake nominate board directors
(DBN)

Financial Overhaul Likely to Be More Restrictive on Banks’ Capital Requirements
(DBN)

So What is the SEC’s Inspector General Inspecting?
(DBN)

"Volcker rule" seen freezing M&A by US mega-banks
(DBN)

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Banking:

WaMu in Talks With Shareholders Over Bankruptcy Plan
(DBN)

Bank of America Debt Sale Shows Contagion Ebbs
(DBN)

Meet the 91 Banks That Didn't Make Their TARP Payments
(DBN)

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Autos:

Judge OK's Visteon arrangements with bond holders
(DBN)

Givebacks: The New UAW Chief's Challenge
(DBN)

Court allows Visteon Corp. to sell shares for bankruptcy exit
(DBN)

Congressman Seeks GM, Chrysler Lobbying Ban
(DBN)

Toyota moves forward on US plant
(DBN)

No summer shutdown at most GM plants
(DBN)

UAW Leader King to Focus on Organizing Toyota Workers
(DBN)

Restoring givebacks will reverse Detroit 3's success
(DBN)

Controversy over Magna deal nothing new for Stronach
(DBN)

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Consultants:

Willis Forms Distressed Assets Practice
(DBN)

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Turnarounds:

A Turnaround In The Turnaround Industry
(DBN)

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Municipalities:

Vallejo Bankruptcy Tied Up In Binding Arbitration
(DBN)

Lawyer says he'd accept state receiver for RI city
(DBN)

Central Falls City Council endorses state takeover of finances
(DBN)

Muni Defaults: A Case of Chicken Little?
(DBN)

Bond holders meet with Harrisburg officials about debt service
(DBN)

Illinois Debt-Default Insurance Climbs to Record
(DBN)

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Economy:

Jobless claims, manufacturing numbers hit stocks
(DBN)

U.S. Consumer Prices Fall on Lower Energy Costs
(DBN)

Experts Talk CPI, Jobless Claims, Fed's Next Move
(DBN)

Trade Deficit Hits $109B
(DBN)

Recovery Creates Few Jobs, No Inflation
(DBN)

Faber: Government Expanded 'Like a Cancer'
(DBN)

Manufacturing expansion slowing in Phila. area, Fed says
(DBN)

Economists Rethink Theories After Crisis
(DBN)

J.P. Morgan Pushes Back Rate Hike Forecast to Late 2011
(DBN)

If the Recession is over, why doesn't it feel like it?
(DBN)

Economic Stress Map
(DBN)

Economy Tracker Map
(DBN)

US Debt Clock
(DBN)

Recovery Index
(DBN)

Bailout Tracker
(DBN)

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Real Estate:

Authorities reveal mortgage fraud crackdown, 485 arrests
(DBN)

O.C. mortgage firm busted in crackdown
(DBN)

Top 10 metros for mortgage fraud
(DBN)

Senate Negotiators Reject Fannie, Freddie Coverage In Financial Bill
(DBN)

Gary Shilling: House prices to fall another 20%
(DBN)

Delisting Fannie, Freddie: Clearing the Path for Change
(DBN)

JPMorgan Pressed for More Data on Fannie, Freddie Loan Buybacks
(DBN)

Gov't Settles Loan-Assistance Fraud Charges
(DBN)

12 Cities Where Home Sellers Are Being Forced To Cut Prices Like Mad
(DBN)

Fannie to Forbear up to 6 Months on Borrowers Affected by Faulty Drywall
(DBN)

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Oil/Gas:

Harsh criticism for BP CEO Tony Hayward on Capitol Hill
(DBN)

BP CEO Tony Hayward calls Gulf of Mexico oil spill a 'complex accident'
(DBN)

BP chairman: board has not discussed CEO's future
(DBN)

Hayward testimony: BP contrite, but not ready to take all blame
(DBN)

BP CEO Tony Hayward: Don't Blame Me
(DBN)

What Tony Doesn't Know
(DBN)

BP CEO: Some Decisions 'May' Have Been About Money
(DBN)

BP's Hayward: Key Decision Partly About Focus On Well Integrity
(DBN)

America's 'small people' and BP's gaffe-prone Gulf oil spill response
(DBN)

BP's Biggest Verbal Blunders
(DBN)

Criminal Fines Could Boost BP’s Legal Costs to Nearly $63B, Analyst Says
(DBN)

Is BP fund a shakedown, or savvy risk management?
(DBN)

How Much Will BP Really Pay?
(DBN)

BP's Many Mouths to Feed
(DBN)

BP Doesn't Deserve a Liability Cap
(DBN)

BP’s $20 Billion Fund May Not Stop Spill Lawsuits, Judge Says
(DBN)

BP Suits Should Be Sent to New Orleans, U.S. Says
(DBN)

BP spill fund tax break could bite back
(DBN)

Attorney General: BP Tax Break Didn't Come Up At White House Meeting
(DBN)

BP Settlement Might Give Some Relief to Hedge Fund Investors
(DBN)

BP Shares Rise After Deal on Fund
(DBN)

Congressman's apology to BP's Hayward triggers uproar
(DBN)

Conservatives Split Over Barton's BP Apology
(DBN)

'Shakedown' lawmaker is oil's darling in US House
(DBN)

Obama’s Twist of BP’s Arm Stirs Debate on Frequent Tactic
(DBN)

Biden Criticizes Lawmaker
(DBN)

BP’s White House Deal: No ‘Line in the Sand’
(DBN)

Parsing BP’s $20B Compensation Fund
(DBN)

For BP, a $20 billion drop in a very large bucket
(DBN)

Gulf spill damages may hit $100 bln-La. Treasurer
(DBN)

Stupak: "Legitimate" For BP Escrow Account To Fund Health Care
(DBN)

BP head says exact size of Gulf oil leak unknown
(DBN)

Hayward estimates size of oil field at 2B gallons
(DBN)

Opportunistic scam artists can be as slick as the oil spill
(DBN)

BP Dividend 'Off the Table' on Obama Spill Demands
(DBN)

BP Bonds Escape Distressed List, Trade as Junk
(DBN)

British pensioners will pick up the bill
(DBN)

Gas Station Owners Feeling BP Boycott Blues
(DBN)

New Orleans runs $5m anti-British campaign – paid for by BP
(DBN)

Here Is The Country That Could Win Big In The Fallout From BP
(DBN)

Stocks That Could Gain on BP Crisis
(DBN)

BP reportedly considering $5B-$10B debt sale
(DBN)

S&P cuts BP rating two steps to A, may cut again
(DBN)

Ethnic Fishing Communities Hurt by Oil Spill
(DBN)

Half a World Away, Oil Spills a Way of Life
(DBN)

Oystermen Say BP Made Poison 'A Permanent Part of the Seabed'
(DBN)

BP's Next Move? Disposal of Oil Sludge
(DBN)

Against Gov. Bobby Jindal's Wishes, Crude-Sucking Barges Stopped by Coast Guard
(DBN)

Here's The Major Oil Company Jim Chanos Is Shorting (not BP)
(DBN)

Shell: $40B Nigerian Investment in Jeopardy
(DBN)

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Bankruptcy Crimes:

Man charged with bankruptcy fraud in superseding indictment
(DBN)

2 sentenced in bankruptcy fraud
(DBN)

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Litigation:

Federal Pleading Standards a Year After Iqbal
(DBN)

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Baseball:

Judge Expected to Rule in Texas Rangers Bankruptcy Case on Tuesday
(DBN)

Question and answer with Rangers general manager Daniels
(DBN)

Texas Rangers Judge to Review Bank, Law Firm Hirings
(DBN)

Prepackaged Plan Amended to Address Unsecured Lenders in Texas Rangers Case
(DBN)

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Agriculture:

How Frederick Scott Salyer went from 'tomato king' to jail cell inmate
(DBN)

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Health Care:

Bidders top $48M offer for St. Vincent's
(DBN)

23 bid on St. Vincent’s apt. building
(DBN)

Medicare Doc Fix Update: 19-Month Relief Flops in Senate
(DBN)

State plans review of Forum sale
(DBN)

Revised tax bill does not include COBRA subsidy extension
(DBN)

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Hockey:

Ice Edge Holdings a step closer to Phoenix Coyotes purchase
(DBN)

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Private Equity:

Among Top Private Equity Firms, Fortress Falls Short
(DBN)

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Trucking:

Arrow Trucking Co. auction nets cash for creditors
(DBN)

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Golf:

Way cleared for possible sale of River Vale Country Club
(DBN)

Judge orders Oakwood auction forward
(DBN)

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Accounting:

PwC partner said auditors will not resist crisis reforms
(DBN)

Bonus Watch ‘10: More Evidence That Promotions at KPMG Don’t Pay Like They Used To
(DBN)

Apparently You Can Also Be Too Hot to Work at PricewaterhouseCoopers
(DBN)

Three Things Public Accounting Can Learn From the World Cup
(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 Code - Prior BK Codes - Bankruptcy Rules
(large downloads)

Bankruptcy Jobs:

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

Seminars - (Contact us to list your seminar)

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Exemptions:

Decision in Schwab Is an Irritating Nonevent
(DBN)

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Lehman:

Lehman gets OK to hire Sotheby's, invest in NYC building
(DBN)

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Corporate Governance:

Discussing the “B” Word with Corporate Boards
(DBN)

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Fraud:

Let the (Smaller) Crooks Alone
(DBN)

Follow the money, find the fraud
(DBN)

Former Rothstein Partner Defends Absence From Deposition
(DBN)

Feds say auditor may have let fraud continue at credit union
(DBN)

Judge freezes assets of O.C. company accused in $53-million Ponzi scheme
(DBN)

Trustee attacks Hecker land deal
(DBN)

Kerviel’s Fake Trades: The Anatomy of A Cover-Up
(DBN)

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Compensation:

Bankers' pay is still encouraging risky behavior
(DBN)

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Chemicals:

Chemtura files for plan of reorganization
(DBN)

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Mass Torts:

Lawyers accuse asbestos defendant of filing phony bankruptcy
(DBN)

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Celebs:

Ex-Wing Fedorov faces foreclosure on two Bloomfield Hills homes
(DBN)

Strange magic
(DBN)

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Horse Racing:

Judge clears way for Fifth Third to pursue Zayat
(DBN)

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Gambling:

Station Casinos, Herbst Gaming fight bondholders in bankruptcy cases
(DBN)

Penn National gets OK for Nevada gaming license
(DBN)

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Religion:

West Boynton Beach temple files for Chapter 11 bankruptcy protection
(DBN)

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Hotels:

Judge says Extended Stay auction seems fair
(DBN)

Starwood Capital reverses on Extended Stay auction
(DBN)

Extended Stay Wins Approval to Move Ahead on Centerbridge Deal
(DBN)

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Jewelry:

Providence Chain Co. forced into receivership
(DBN)

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Food/Drink:

Winn-Dixie to distribute 6.8 million shares to settle claims from Ch. 11
(DBN)

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Newspapers:

Tribune Lenders Seek to Question Zell on Bankruptcy
(DBN)

The Cold, Hard Numbers Of What's Happening To Newspapers
(DBN)

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Credit Cards:

New Fed Rules: You Can’t Be Charged for Not Using Your Credit Card
(DBN)

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Small Business:

US House approves small business lending bill
(DBN)

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Aviation:

Spirit May Soar Again but Other Airline Tensions Simmer
(DBN)

Southwest Finds 40-60 Human Heads on Flight
(DBN)

JAL in negative net worth over $11 bln
(DBN)

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Tax:

Americans May Have 'Mere Hours' to Disclose UBS Accounts to IRS
(DBN)

The Growing Push to Impose a Transaction Tax
(DBN)

Tax bill would deny deduction of punitive damages
(DBN)

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UK:

How distressed are UK businesses?
(DBN)

Axe falls early on £11.5bn of spending
(DBN)

London lawyers unimpressed by overhaul of banking regulation
(DBN)

MPs clash on accountants' role in tax avoidance
(DBN)

KPMG administrators close Pilkington's Poole factory
(DBN)

Manchester United VAT case could set new precedent
(DBN)

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EU:

EU to publish potential bank losses
(DBN)

Medvedev Sees Risks for BP, Euro
(DBN)

EU to Push Taxes on Banks, Financial Transactions at G-20
(DBN)

EU Stress Tests Face Questions Over Stringency, Government Help
(DBN)

Weber Says Must Avoid Permanent Support for Debt-Laden Nations
(DBN)

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Spain:

Zapatero says to tell IMF Spanish economy strong
(DBN)

Spain's Zapatero slams 'unfounded rumors' of financial collapse
(DBN)

Spain has cash to meet July bond payments -govt source
(DBN)

Madrid is not Athens (yet)
(DBN)

More on Spanish credit lines
(DBN)

Spain isn't working
(DBN)

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Greece:

Greece's Modern Ruins
(DBN)

Greece "on track" with reforms, unions call strike
(DBN)

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Argentina:

Argentina's Metrogas Seeks Bankruptcy Protection
(DBN)

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Turkey:

Jailing debtors in Turkey remains an 'exception,' law experts say
(DBN)

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Italy:

Milan Proving Bust for Italian Tower as Luxury Lofts Go Begging
(DBN)

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Middle East:

US probe halts sale of Dubai World's ISS
(DBN)

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France:

IMF: France Economic Outlook Subject To High Uncertainty
(DBN)

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China:

World Bank sees no wage-price spiral in China
(DBN)

Second strike hits China Toyota supplier
(DBN)

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Japan:

Japan's Moneylenders Brace for Losses, Rules Shakeout
(DBN)

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