April 14, 2011

The Daily Bankruptcy News

Also available on the Web (with links to the news stories) Click Here
View prior editions: Click Here
View prior case summaries: Click Here
Search prior headlines: Click Here
Search prior case summaries: Click Here

Law:

Biglaw Firm Warns Associates They’ll Be ‘Disappointed’ With Compensation
(DBN)

The Law Firm and Corporate 'Anthem' Collection: Build It for the Children
(DBN)

Bonus Watch: Goodwin Procter’s ‘Special’ Bonuses
(DBN)

Former Howrey employees file suit
(DBN)

"Biglaw is also not worth it, even for big money"
(DBN)

Trio of law firms included in Times list of top employers for women
(DBN)

Andrews Kurth sued over Stanford Ponzi
(DBN)

FDIC, Law Firm Settle Dispute Over Executive Documents From Failed Banks
(DBN)

Hinshaw, Polsinelli Makes Lateral Bankruptcy Hire
(DBN)

Paul Weiss launches in Canada with double Shearman partner hire
(DBN)

New-Style Legal Competitor Going Public
(DBN)

Crystal Ball Sees Legal Profession Headed for a Murky Future
(DBN)

BiggerLaw: Firm Moving to Roomier NY Offices
(DBN)

Location Matters When It Comes to Big Law Success
(DBN)

Judge Rules for Counsel, Saying Baby Comes First
(DBN)

In-House: On Outer-Directedness
(DBN)

Santander reviews UK advisers as Barclays quizzes legal panel on hospitality costs
(DBN)

How Many Inflated ‘A-pluses’ Do You Need To Get A Job In D.C.?
(DBN)

BigLaw Firm Wishes Women Lawyers Showed Less Leg, Etc.
(DBN)

Experts Offer Tips for Safe Flying in the Cloud
(DBN)

The Plague of Email Disclaimers
(DBN)

60 Digital Tricks Every Lawyer Should Know
(DBN)

DLA Piper Backs Facebook Ownership Challenge in New Complaint, Citing Explosive E-mails
(DBN)

When Is a Law Firm Allegedly Part of a RICO Criminal Enterprise? 3rd Circuit Explains
(DBN)

Don’t Feel Left Out—There’s Still a Lot of Blackberry Love in Law Offices
(DBN)

No Male-Female Wage Gap?
(DBN)

The Play's the Thing: Legal Elite Strut and Fret Their Hour Upon the Stage
(DBN)

Asst. DA’s Secretary Takes Plea in Perjury Case, Admits Passing Info to Help Her Defendant Grandson
(DBN)

Lawyer Who Took $4M From Clients Up for Early Release
(DBN)

A 1L Who Should Stay In Law School
(DBN)

Barry Bonds Found Guilty of Obstructing Justice; Mistrial Declared On Other Counts
(DBN)

______________

Judges:

Federal Judge Benchslaps Plaintiffs’ Counsel: Stop Being Tools
(DBN)

Justices Kennedy and Kagan return to Harvard Law School for Reunion Weekend
(DBN)

Judicial vacancies create a ‘crisis’ for federal courts
(DBN)

Kagan's government money grab
(DBN)

Justice is Served, but More So After Lunch*
(DBN)

______________

Wall Street:

U.S. stock futures fall ahead of earnings, data
(DBN)

Volatile Session Ends With Stocks Just Over the Plus Line
(DBN)

______________

Layoffs:

February job openings highest in nearly 2-1/2 years
(DBN)

Jobless Rate For Young Is 25%—and Rising
(DBN)

Consumers, Data Diverge on Labor Market Strength
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

______________

Fraud:

FrontPoint Partners' Skowron Charged With Securities Fraud
(DBN)

Chip Skowron Told Dr. Benhamou To Fabricate A Story So They Wouldn't Get Caught
(DBN)

If There’s A Better Way To Compensate Your Tipster For Inside Information Than Handing Him Envelopes Filled With Cash, Chip Skowron Hasn't Heard Of It
(DBN)

Doctor Plied with Cash-Stuffed Envelopes
(DBN)

FrontPoint Pays $33M to Settle SEC Case
(DBN)

Sokol, Rajaratnam Defenses Absurd: Cramer
(DBN)

Insider Trading Haunts Berkshire Hathaway
(DBN)

Sokol Knew; How Could Buffett Have Not?
(DBN)

Galleon’s Schutte Won’t Say Whether Hedge Funds Are ‘Highly’ Competitive
(DBN)

Rajat Gupta Mystery Remains as Rajaratnam's Insider Trial Nears Denouement
(DBN)

Geoffrey Canada Salutes Raj Rajaratnam
(DBN - NY Times - Paywall Limit Possible)

Fair bankruptcy trustees fight $2 million judgment
(DBN)

Kiener Says He Manipulated Funds, Lacked Courage to Close K1
(DBN)

Man pleads guilty in $135M health care fraud
(DBN)

______________

Corporate Reform:

In Financial Crisis, a Dearth of Prosecutions Raises Alarms
(DBN)

Naming Culprits in the Financial Crisis
(DBN)

Could Elizabeth Warren end up leading consumer protection bureau?
(DBN)

Might Elizabeth Warren Get the CFPB Nod After All?
(DBN)

Elizabeth Warren's consumer protection dream is following a rugged trajectory
(DBN)

For Complaints, Don't Call Consumer Bureau Yet
(DBN)

Durbin to Dimon: Stop whining
(DBN)

Durbin letter to Dimon
(DBN)

Boehner: New Auditing On Tap For CFPB
(DBN)

______________

Retailing:

Retail sales up modestly; growth forecasts pared
(DBN)

Bitter Borders Signs Go Viral
(DBN)

In Motion Defending Bonuses, Borders Sees $1.5 Billion Company
(DBN)

______________

Municipalities:

Is the Debtor Bankrupt Enough? Application of the Chapter 9 Insolvency Test to the City of Vallejo
(DBN)

Idea of State Bankruptcy Is Off the Table
(DBN)

Rhode Island's Pension Liabilities Are Now The Worst In The Country
(DBN)

Political Will and Fiscal Federalism in Municipal Bankruptcy
(DBN)

Development Specialists Launches Government Restructuring Firm
(DBN)

______________

Hollywood:

Sealed report makes for interesting Hollywood reading
(DBN)

Unsealed trustee report puts David Bergstein, Ron Tutor in an unflattering light
(DBN)

Report Alleges Cozy Pact Between Bergstein and Tutor
(DBN)

______________

Lehman:

Lehman, creditors agree on plan approval timeline
(DBN)

Paulson-Calpers to Present Rival Lehman Liquidation Plan
(DBN)

Judge Overrules Lehman Minibond Holders on Derivatives
(DBN)

Lehman Europe administrators return almost £13bn assets
(DBN)

Lehman Brothers administrators return further £2.1bn
(DBN)

______________

Credit Reporting:

Credit Scores Fall Even As Consumers Reduce Card Debt
(DBN)

______________

Gambling:

Station Casinos Affiliates Files Bankruptcy to Implement Green Valley Sale
(DBN)

______________

Debt Collection:

Lawsuits Against Agencies, Creditors Exceed 500 In Two Weeks
(DBN)

______________

Distressed Investing:

Goldman’s Special Situations Unit Produced 9% of 2007 Revenue
(DBN)

High-Yield Default Rate Falls, But Risks Rise, Fitch Says
(DBN)

______________

Economy:

Record Numbers of Americans Get Gov't Help
(DBN)

9 Things The Rich Don't Want You To Know About Taxes
(DBN)

The Most Heavily Taxed Countries In The World
(DBN)

Fed’s Bullard Says Exit Plan Should Start With Sale of Assets
(DBN)

The Real Housewives of Wall Street - Why is the Federal Reserve forking over $220 million in bailout money to the wives of two Morgan Stanley bigwigs?
(DBN)

Obama unveils plan to cut deficit by $4 trillion
(DBN)

Obama’s budget is policy, not philosophy
(DBN)

Obama Stokes Deficit Fight
(DBN)

Obama Calls for Cutting Tax Breaks to Raise $1 Trillion
(DBN)

Obama Announces His Plan To Hike Taxes, Cut Spending, And Solve The Deficit Problem
(DBN)

Obama Urges Cuts and Taxes on Rich
(DBN - NY Times - Paywall Limit Possible)

Obama's debt plan has four elements -- including Medicare and taxes
(DBN)

Obama Deficit Plan Features Trigger For Tax Increases
(DBN)

Obama vs Ryan: how the deficit plans compare
(DBN)

Tax Rates are Low, but Opposition High
(DBN)

The $1 Trillion Tax Battlefield Takes Shape
(DBN)

Boehner on board with Ryan's Medicare plan
(DBN)

Wall St. to Boehner: Back Off Debt Ceiling
(DBN)

Summary of Economic Reports by Federal Reserve District Banks
(DBN)

Fed Survey: US Economy Improves in Spring
(DBN)

Senate questions auditors and SEC roles in financial crisis
(DBN)

IMF: Close Gap Between Rich and Poor
(DBN)

The 13 Richest Americans Ever
(DBN)

US Consumers Spend More in March
(DBN)

Americans Spend More in March — at the Gas Pump
(DBN)

Consumer morale up from record low - Nationwide
(DBN)

What's Gone Up, What's Gone Down
(DBN)

Financial Crisis Report Finds Conflicts and Recklessness
(DBN)

Senate panel slams Goldman in scathing crisis report
(DBN)

Goldman Sachs Misled Congress After Duping Clients: Levin
(DBN)

Senator Levin Says He'll Refer Goldman Testimony From Last Year's Congressional Hearing To The DOJ For Possible Perjury Charges
(DBN)

Goldman Traders Tried to Manipulate Derivatives Market in '07, Report Says
(DBN)

Financial reports blame crisis partly on WaMu's poor lending practices
(DBN)

Senate Report Lays Bare Mortgage Mess
(DBN)

Credit raters triggered financial crisis - US panel
(DBN)

Report: Budget deal cuts this year's deficit by just $353 million, not $38 billion touted
(DBN)

The Budget Deal Turns Out To Be A Gigantic Fraud
(DBN)

Tea Party senators consider filibuster
(DBN)

Who Does The US Owe Its Debt To
(DBN)

John Paulson On The Worst Case Scenario For The The U.S. Economy
(DBN)

AP analysis: US economic stress eased in February
(DBN)

20 most stressed, 20 least stressed counties
(DBN)

Economic Stress Map
(DBN)

Economy Tracker Map
(DBN)

US Debt Clock
(DBN)

Bailout Recipients
(DBN)

______________

Real Estate:

Mortgage applications drop 6.7%
(DBN)

Spring housing inventory up 2.3%: NAR
(DBN)

Case Shiller 100 Year Chart
(DBN)

U.S. banks still face big foreclosure risks
(DBN)

Gov't orders 14 lenders to reimburse homeowners
(DBN)

OCC, Fed actions will not impact AG investigation: Miller
(DBN)

Mortgage Lenders Get A Slap On The Wrist
(DBN)

US Foreclosure Settlement Muddies Outlook for Mortgage Relief
(DBN)

Feds' settlement with banks a wreck, say critics
(DBN)

FDIC chafes at foreclosure half-measures
(DBN)

Chase adding jobs to fix mortgage mess
(DBN)

Foreclosures off 30% this year
(DBN)

Foreclosure Filings in US Drop to Three-Year Low After Paperwork Delays
(DBN)

The robo-signing crisis is blamed for stalled foreclosures, but law firms' woes may keep pace slow
(DBN)

US judge to sanction LPS for lying to court
(DBN)

OCC foreclosure consent order to cost JPMorgan Chase $1 billion in 1Q
(DBN)

Feds investigation uncovers 'widespread consequences' from faulty foreclosures
(DBN)

Major banks sanctioned over mortgage practices
(DBN)

No place is immune: Tony Manhattan sees spike in foreclosures
(DBN)

House bill introduced to crack down on mortgage servicers
(DBN)

OCC Gently Admonishes Big Banks on Foreclosure Practices
(DBN)

Southern California Home Sales Decline 5.2% Amid Low Mortgage Availability
(DBN)

Southern California Home Prices Slip
(DBN)

Saguaro Ranch may yet avoid foreclosure
(DBN)

Ex-Lawyer and Lawmaker Convicted with 3 Others in Mortgage Fraud; Jury Hangs re Attorney-Rabbi
(DBN)

Speeding Up The Housing Recovery With Accelerated Short Sales
(DBN)

Obama deficit reduction plan would impact tax itemization of home purchases
(DBN)

Amidst Foreclosure Crisis, Proposed Budget Would Slash Housing Counseling
(DBN)

Fitch: Increasing interest rates bad for investors, home affordability
(DBN)

Fed Beige Book finds weak housing market, slight uptick in CRE
(DBN)

Hilco Real Estate marketing headquarters of financially strapped Emivest
(DBN)

Whistling Thru the Graveyard: Could CRE Follow Housing into Another Trough?
(DBN)

Deutsche Bank Sold CDO ‘Pigs’ as Market Buckled, Lawmakers Say
(DBN)

Borders Looking To Cut Rent Deals or Cancel Leases
(DBN)

_____________

Reclamation:

Weathering the storm: district court imposes additional duties on creditors seeking to reclaim goods sold to a debtor during the 45-day period preceding the bankruptcy case
(DBN)

______________

Utilities:

Dynegy Announces Retention of Restructuring Advisory Firms
(DBN)

Sigh. Poor Dynegy .
(DBN)

Dynegy names interim CEO
(DBN)

Dynegy Hires Advisers in Bid to Avoid Bankruptcy Court
(DBN)

______________

Resorts:

Paulson Resorts Win Approval for $30 Million Bankruptcy Loan
(DBN)

Ocean Place Resort & Spa hoping to rise from bankruptcy
(DBN)

______________

Religion:

Diocese still working to exit bankruptcy , Dialog cut
(DBN)

Wilmington Diocese to cut jobs, close newspaper to pay abuse costs
(DBN)

______________

Autos:

As gas goes up, Ford and GM go down
(DBN)

Collectors May (or May Not) Have Chance to Buy Bertone Cars
(DBN)

______________

Textiles:

TexStyle files Ch. 11
(DBN)

______________

Agriculture:

Trustee Explains Eastern Livestock Finances
(DBN)

______________

Furniture:

Jennifer Convertibles posts $32.1M profit on debt elimination
(DBN)

______________

New Bankruptcy Opinions
(2 new opinions 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)

UCLA-LoPucki Bankruptcy Research Database
(DBN)

Bankruptcy Jobs:

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

Seminars - (Contact us to list your seminar)

______________

Miscellaneous:

Lehman, Station Casinos, Satelites Mexicanos: Bankruptcy
(DBN)

______________

Bankruptcy Statistics:

S. FL bankruptcies fall 32%
(DBN)

Business bankruptcies decline 43% in St. Louis
(DBN)

Interactive Bankruptcy Statistics Map
(DBN)

______________

Bankruptcy Poetry:

Washington Wars
(DBN)

______________

Health Care:

After Bankruptcy , Hospital Debuts ER Wait-Time Billboards
(DBN)

After losing FDA battle, ReGen files for bankruptcy
(DBN)

______________

Compensation:

How can we address excessive CEO pay?
(DBN)

JPMorgan bankers in line for 34% raise
(DBN)

______________

Aviation:

Gov't wants airlines to repay fee after losing bag
(DBN)

Frontier Airlines reduces fees
(DBN)

______________

Banking:

Patience sorely tested by Morgan Stanley
(DBN)

"Free" Checking
(DBN)

K.C. Fed Chief: Reclassify Big Banks As GSEs
(DBN)

Remember That Former Model Who Was Worried She Was Too Pretty To Be A Banker?
(DBN)

JPMorgan making fewer loans but profit still surges
(DBN)

JPMorgan Credit Swaps Show Bank's Record Profits Fail to Impress
(DBN)

Lower Reserves Drive JP Morgan Profit
(DBN)

Banks face $3.6 trillion "wall" of maturing debt: IMF
(DBN)

JPM Results Could Forecast Write-Downs for Citi, Bank of America
(DBN)

US probes whether banks colluded in Libor
(DBN)

______________

Media:

Zell attorney tells bankruptcy judge that proposed Tribune reorganization plans aren't fair
(DBN)

Zell Wants Tribune Creditors To Stick To Probe Deadline
(DBN)

Tribune Bankruptcy Judge Not Ready to Decide If Zell Claims 'Have Merit'
(DBN)

______________

Food/Beverage:

Thwarted Developers Want Their Money Back from A&P
(DBN)

A&P Looking To Sell Superfresh Outlets
(DBN)

______________

Private Equity:

'I'm Going To Buy This Company, And I'm Going To Fire These Arrogant Men.'
(DBN)

______________

Ethanol:

Carl Marks Acts as Exclusive Financial Advisor in Sale of Otter Tail Ag Enterprises
(DBN)

______________

Accounting:

14 partners drop equity for salary
(DBN)

______________

Mass Torts:

Are We Being Duped About the Gulf Oil Spill Being Fixed?
(DBN)

‘Spillionaires’: Profiteering and Mismanagement in the Wake of the BP Oil Spill
(DBN)

Gulf's Delacroix Islanders Watch As Their World Disappears
(DBN)

______________

Baseball:

Rangers Sue Hicks Over Parking
(DBN)

______________

Rating Agencies:

Vows of Change at Moody’s, but Flaws Remain the Same
(DBN - NY Times - Paywall Limit Possible)

______________

Celebs:

Toni Braxton Looks for Sympathy, But I'm Not Feeling It
(DBN)

______________

Fashion:

Style guru or pest? American Apparel boss fights for his reputation
(DBN)

Dov Charney Has Only Just Begun to Fight
(DBN - NY Times - Paywall Limit Possible)

______________

Symphonies:

Orchestra may declare bankruptcy this weekend
(DBN)

______________

UK:

Appointment of Administrators - 13 April 2011
(DBN)

Winding Up Petitions - 13 April 2011
(DBN)

Loss of Income is biggest cause of debt woes
(DBN)

15% increase in financial distress across all business sectors
(DBN)

______________

EU:

Europe banks unwinding 1.3 trillion euro of loans - report
(DBN)

'True Finns' Threaten EU Bailout Plans
(DBN)

______________

Canada:

No Crown super-priority for HST in CCAA proceedings
(DBN)

Nortel mediation ends in failure
(DBN)

______________

PIIGS:

Court rules developer knew rogue solicitor 'played system'
(DBN)

Action against struck-off ' Ponzi fails
(DBN)

AIB Considers Writing Off Some Debt
(DBN)

Irish central bank trims growth outlook
(DBN)

Irish Retailers Fight Investors Over Rents After Economy Sinks
(DBN)

Sovereign debt concerns pose lingering risk-Irish c. bank
(DBN)

Greece May Need Debt Restructuring After June, Schaeuble Tells Die Welt
(DBN)

Greek Bonds Now Yielding Over 13%
(DBN)

______________

Mexico:

Satelites Mexicanos Wins Court Approval to Enter Debt-Financing Agreement
(DBN)

______________

MENA:

EU hits more Libyan oil players
(DBN)

Western, Arab nations say Gaddafi must go
(DBN)

Nakheel Edges Closer To Debt Deals
(DBN)

Bahrain's Hotels Are Deserted, And Egypt's Are 79% Emptier Than Last Year
(DBN)

______________

Sweden:

Sweden's Gov't in Surplus, Plans Tax Cuts
(DBN)

______________

Japan:

TEPCO liability may be capped between $23.6B and $44.8B: Report
(DBN)

TEPCO still working on plan to end Japan nuclear crisis
(DBN)

Japan's crisis: one month later
(DBN)

Deepest Japan Slump Since Lehman Fails to Derail Predictions for Rebound
(DBN)

______________

China:

China Banks Said to Need $131 Billion of Equity Over Six Years
(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 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.

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 service 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.

Press Releases/News Tips
Please send press releases and news tips to admin@bkinformation.com

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).

 

Copyright 2011