August 1, 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:

Report Highlights "Five Forces That Will Change Legal"
(DBN)

Firms Approve Merger Creating 280-Partner Firm
(DBN)

Job Offers to Summer Associates Down by One-Third in 2010
(DBN)

Howrey Files Monthly Operating Report; Hires Duane Morris
(DBN)

Johnson & Johnson heir sues Proskauer Rose for $145 mln
(DBN)

Judge OKs California Town's Exit From Bankruptcy
(DBN)

Chapter 7 Trustee Sues Debtor's Lawyer, Alleging He Botched State Court Suit
(DBN)

One Law School Dean’s Noisy Withdrawal
(DBN)

A Resigning Law Dean Spills The Beans On The Fleecing Of Law Students
(DBN)

Law School Offers White-Collar "Boot Camp"
(DBN)

Law Grad Declared Vexatious Litigant After Third Suit Against Lawyers, Firm
(DBN)

E-Discovery Certification: Sham Exams?
(DBN)

How Legal and IT Can Work Together to Prevent an E-Discovery Crisis
(DBN)

Lip Encryption for Added Client Security :))
(DBN)

New Official Site for U.S. Code Launched in Beta
(DBN)

Celebrity Summer Associate: An ‘Apprentice’ in Law
(DBN)

A Young Lawyer's Guide to Professional Dress
(DBN)

Arkansas Attorney General Dustin McDaniel Is Making It Rain
(DBN)

Seyfarth Shaw Loses Pro Hac Counsel Opposition In Legal Malpractice Case
(DBN)

Lawyer Calls Another One a Repeat Plagiarist
(DBN)

Pregnant Woman Takes Bar Exam While in Labor, Delivers Baby Right After!
(DBN)

We Have A Winner For ‘Most Gutsy Bar Exam Performance’
(DBN)

The Lawyers’ Fear of Accountability
(DBN)

30 Lawyers Pick 30 Books Every Lawyer Should Read
(DBN)

Judge Slams Birther for Either Mockery or Stupidity
(DBN)

Drunken Driving: Does the Punishment Fit the Crime?
(DBN)

Prosecution of Warren Jeffs Grows Stranger By the Minute
(DBN)

Man uses jailhouse phone glitch to get released
(DBN)

Price tag for Casey Anthony case near $700,000
(DBN)

Should the NFL be Liable for Former Players’ Concussions?
(DBN)

Is the mystery of DB Cooper about to be solved?
(DBN)

Ex-Governor, 83, Marries His Prison Pen Pal, 32
(DBN)

______________

Judges:

The Folks Who Will Decide If NY Judges Get a Raise
(DBN)

______________

Wall Street:

U.S. stock futures rally on debt deal
(DBN)

S&P 500 Posts Biggest Drop Since July 2010
(DBN)

Goldman's Lost Shine
(DBN)

Is the Goldman Sachs Era Over?
(DBN)

Goldman Traders Quitting in Droves
(DBN)

Hedge fund Lansdowne dumps entire $850m stake in Goldman Sachs
(DBN)

Wall Street Can Save U.S. With 'Reverse TARP'
(DBN)

______________

Layoffs:

Fourth Circuit Says “Laid Off? Then Paid Off”
(DBN)

Don’t Expect Employment Help From Manufacturing
(DBN)

Jobs Market Worst for the Middle Class
(DBN)

Merck to Fire 13,000 Workers
(DBN)

Foxconn plans to use 1 million robots in 3 years
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

______________

Aviation:

FAA Shutdown: Airlines Pocket The Difference, Customers Pay The Same
(DBN)

Thai Prince to Use Own Funds to Recover Seized Plane
(DBN)

______________

Municipalities:

Jefferson County sewer debt crisis: 11th-hour talking to avoid bankruptcy
(DBN)

Jefferson County commissioners irked by five-year 8% annual rate hikes in sewer debt proposal
(DBN)

Central Falls bankruptcy decision set for Monday
(DBN)

Central Falls police, fire retirees reject benefit cuts
(DBN)

Chafee personally involved in Central Falls financial talks
(DBN)

Debt Crisis? Bankruptcy Fears? See Jefferson County, Ala.
(DBN)

After 6 years, Los Osos CSD bankruptcy plan approved
(DBN)

Jefferson County's debt woes backdrop to SEC reform hearing
(DBN)

Pontiac Police Dept. to end 150 years of service
(DBN)

Dealing with Municipal Debt -- Is Bankruptcy a Viable Option?
(DBN)

Arbitrator's ruling could get trumped by Measure H
(DBN)

Teacher pension system on dangerous path to insolvency
(DBN)

Arizona Middle Class Struggling
(DBN)

______________

Mass Transit:

Maglev Inc. files for bankruptcy protection
(DBN)

______________

Baseball:

Fox Objects to Los Angeles Dodgers' Hiring of Blackstone
(DBN)

______________

Sports:

Tom Gaglardi submits bid to NHL to purchase Dallas Stars
(DBN)

Bankers Get Their Way With Einhorn's Investment In Mets
(DBN)

Oakland Athletics owner calls on Frank McCourt to sell Dodgers
(DBN)

Frank McCourt to Bud Selig: Who's taken more money out of MLB?
(DBN)

The Brightside: Irving Picard and help for the Mets
(DBN)

______________

Banking:

HSBC to sell 195 US bank branches for $1 billion
(DBN)

HSBC to cut 10,000 jobs despite $11bn profit
(DBN)

HSBC to Cut 25,000 More Jobs by 2013
(DBN)

______________

Resorts:

Facing $40M judgment, resort founder seeks way out
(DBN)

Rich Guys Fight Over $8 Million From Luxury Resorts
(DBN)

______________

Accounting:

Lehman Case Hints at Need to Stiffen Audit Rules
(DBN)

______________

Lehman:

Lehman Appeals Ruling It Can't Recover $11 Billion Barclays 'Windfall'
(DBN)

Bundesbank Loses U.K. Bid to Seize Assets in Lehman CDO Deal
(DBN)

Lawyers hail Lehman win and 'game changer'
(DBN)

______________

Fund Management:

Marco Polo Seatrade Files for Bankruptcy Court Protection in New York
(DBN)

______________

Debt Collection:

Fewer Lawsuits Against Collection Agencies, Creditors In Early July
(DBN)

______________

Consultants:

Alvarez & Marsal Hires Goyache for Restructuring Practice in Spain
(DBN)

ACM Capital Partners Hires Riggs, Agustin as Directors; Promotes Bauck
(DBN)

______________

Receivers:

Substance Over Form: Equity Receivers in SEC Enforcement Actions
(DBN)

The Challenges of Crafting a ‘Fair, Equitable’ Distribution Plan
(DBN)

Receiverships Under State Law: Situational Supervision
(DBN)

Weighing the Receivership Option
(DBN)

Selling Real Estate Assets in Receivership
(DBN)

______________

Economy:

Mixed Economic Data, Again
(DBN)

US Economic Growth Slows Sharply
(DBN)

Has the Economy Hit Stall Speed?
(DBN)

July Consumer Sentiment Lowest in 2 Years
(DBN)

US Economy is Vulnerable
(DBN)

Economists React: ‘Recovery? What Recovery?’
(DBN)

Slow Growth Stirs Fears of Recession
(DBN)

Usual Growth Leaders Absent in Current Recovery
(DBN)

Apple has more cash than the US Treasury
(DBN)

Treasury Would Delay Auctions If No Debt-Ceiling Deal, Morgan Stanley Says
(DBN)

Compromise Debt Deal in Sight
(DBN)

World warns of disaster if no debt deal done
(DBN)

Race Against the Clock: Possible Debt Plan Emerges
(DBN)

$2.8 Trillion in Spending Cuts
(DBN)

Reid signs off on bipartisan debt deal
(DBN)

Highlights of budget and debt limit pact
(DBN)

Obama Accused of 'Surrender' as Debt Ceiling Vote Looms
(DBN)

Bipartisan debt-limit deal means bipartisan opposition for Obama
(DBN)

Debt Ceiling Deal That Cuts Trillions, Creates 'Super Congress'
(DBN)

Anyone Who Thinks The Debt Deal Is A Victory For America Understands Neither Economics Nor Politics
(DBN)

From Spending to Cuts, While the Economy Stalls
(DBN)

Deal May Avert Default, but Some Ask, 'Is That Good?'
(DBN)

Sure Cure for the Debt Problem: Economic Growth
(DBN)

Five Winners of the Debt Ceiling Crisis
(DBN)

Moody's: US Should Retain Top Credit Rating
(DBN)

Moody's: Neither debt plan protects the nation's AAA rating
(DBN)

Downgrade of U.S. Debt Amounts to Only Few Basis Points in Ratings History
(DBN)

Answers to the 7 big "what-ifs" of debt default
(DBN)

Seniors: We need our Social Security!
(DBN)

It's the elderly, stupid.
(DBN)

Tea Party Takes US to Brink
(DBN)

Dumb and Dumber: Debt Crisis Edition
(DBN)

Debt ceiling face-off: The audacity of hopelessness
(DBN)

Sanders: 'No wonder' public is angry
(DBN)

Debt Ceiling Battle Hurting the Economy
(DBN)

Charting the American Debt Crisis
(DBN - NY Times - Paywall Limit Possible)

Stockman: Debt Crisis a Long Time Coming
(DBN)

What Happens if U.S. Debt Gets Downgraded?
(DBN)

Taking a Closer Look at the Result of a Credit Downgrade
(DBN)

What the Debt Crisis Means for You
(DBN)

Why the National Debt Negotiations Matter to Women
(DBN)

What Would It Take To End Stalemate
(DBN)

Koch Says U.S. Debt Solutions Not Likely in Short Term
(DBN)

Fed’s Bullard: Rising Inflation Makes New Stimulus Unlikely
(DBN)

Recession: $131B Worse Than We Thought
(DBN)

Great Recession Even Deeper than Thought
(DBN)

Boomers Worry: Money Pressures of Aging
(DBN)

Default More Than 400 Years Ago Leaves Scars
(DBN)

Alexander Hamilton on Our National Credit Rating
(DBN)

A Little Glimpse Of What Austerity Looks Like
(DBN)

Economic Stress Map
(DBN)

Economy Tracker Map
(DBN)

US Debt Clock
(DBN)

Bailout Recipients
(DBN)

______________

Real Estate:

Judge threatens to sanction CEO of HSBC for 'robo-signing'
(DBN)

Foreclosure Mills Helped Revive Miami Housing Market, Consultant Says
(DBN)

BofA Mortgage Deal ‘Insufficient,’ Western & Southern Says
(DBN)

Homeownership drops to 1998 level
(DBN)

More Homebuyers Walking Contracts
(DBN)

300 Middle Class Families Are Sleeping In An Albuquerque Gym After Losing Their Homes And Jobs
(DBN)

GMAC Mortgage Machination: Don't Have Document to Foreclose? Make It Up
(DBN)

AG Firings Need to be Investigated
(DBN)

Few homeowners are using federal short sale program
(DBN)

Klauber prevails in Colony appeal
(DBN)

RPM Puts 16 Stores on Block
(DBN)

Some Bankers Never Learn
(DBN)

BofA, Goldman Sachs Find State Mortgage-Securities Cases Hard to Shake
(DBN)

Mortgage firm victims feel victimized again Bankruptcy trustee going after them for funds
(DBN)

Ind. AG sues foreclosure consultant company
(DBN)

DOJ sues MDR Mortgage president for bad FHA mortgages
(DBN)

Fixed-rate CMBS defaults near 13%
(DBN)

_____________

Celebs:

The Broke and the Beautiful: Vegas Edition
(DBN)

Singer R. Kelly Faces IRS Tax Lien
(DBN)

Legal battle swirls around Jim Donnan
(DBN)

Real Housewife Taylor Armstrong And Soon To Be Ex-Husband Being Sued For More Than A Million Dollars
(DBN)

______________

Religion:

Judge approves $77M settlement for abuse victims
(DBN)

Abuse victims receive closure
(DBN)

Diocese of Phoenix to Post List of Abusive Clergy on Website
(DBN)

Monsignor who led clergy office to stand trial for abuse
(DBN)

Judge Won't Sever Cases in Archdiocese Sex-Abuse Scandal
(DBN)

Officials: Crystal Cathedral isn't for sale
(DBN)

______________

Fraud:

FRM victims lash out at trustee's role in bankruptcy
(DBN)

Are Bank Suits by Madoff Trustee 'Doomed'?
(DBN)

The Madoff Trustee's Bad Day
(DBN)

HSBC's Court Victory May Slash $100 Billion Jackpot for Madoff
(DBN)

Judge's Ruling in Madoff Case Could Reduce Money for Victims
(DBN - NY Times - Paywall Limit Possible)

Rep. Garrett Tries To Protect "Innocent Victims" Of Bernie Madoff Ponzi Scheme
(DBN)

Former Fred Leighton Owner ‘Lived a Life of Fraud and Deceit on a Massive Scale’
(DBN)

Pa. jury finds last Le-Nature's defendant guilty
(DBN)

Police on lookout for fugitive accused in 'mini Ponzi
(DBN)

Last of William Huber's assets being sold to compensate his Ponzi victims
(DBN)

Journalist finally honored for original Ponzi expose
(DBN)

IRS not swayed on deductions in Stanford case
(DBN)

Attorney Says E-Mails Show Feeder Fund Knew Crookedest Lawyer Ever Was a Crook
(DBN)

Former GC Sentenced to 15 Years for Aiding Life Settlement Fraud; Defense Argued He Was Naïve
(DBN)

Pegasus Wireless Ex-CEO Facing Hard Time
(DBN)

______________

Autos:

Saab Won't Be Saved. Not Even By This Man
(DBN)

$5.1M in claims to go unpaid in Autopro bankruptcy
(DBN)

Auto Sales Stall as Unemployment Puts Peak Out of Reach
(DBN)

______________

Education:

Tennessee Regents OK Lambuth deal
(DBN)

______________

Pensions:

Pension Benefit Guaranty Corp. will cover retirement pay for Alabama Aircraft workers
(DBN)

______________

New Bankruptcy Opinions
(5 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, Spiegel, Corus, Perkins & Marie Callender's
(DBN)

Madoff, Borders, Lehman, Giordano's, Spansion
(DBN)

Rochelle on Lehman as Hedge Fund, Madoff Bankruptcy
(DBN)

Rochelle on LA Dodgers, Madoff, Ambac, Vitro Bankruptcies
(DBN)

______________

Bankruptcy Statistics:

Small-Business Bankruptcies Decline at Slower Rate
(DBN)

Interactive Bankruptcy Statistics Map
(DBN)

______________

Bankruptcy Reform:

Fears that never came to pass
(DBN)

______________

Trivia:

Bankruptcy Trivia
(DBN)

______________

Recoupment:

Bankruptcy Court Jurisdiction and Recoupment: Not Just a ‘Claim’ by Any Other Name
(DBN)

______________

UCC:

Amendments to Chapter 9 of the Texas UCC
(DBN)

______________

Insurance:

Holds D&O Policies Cover Voluntary Compliance Expenses and Special Litigation Committee Costs
(DBN)

Insured versus insured exclusion inapplicable to action by bankruptcy trustee and bankruptcy exclusion deemed unenforceable
(DBN)

Former creditor in firm's bankruptcy seeks to build it anew
(DBN)

Genworth fortifies collapsing mortgage insurance business
(DBN)

Mortgage insurers write $4.8 billion in new business in June
(DBN)

______________

Media:

Lawyers tell New York Post staff to keep all phone hacking documents
(DBN)

Bad news for D&O insurers?
(DBN)

More Layoffs at The Los Angeles Times
(DBN)

______________

Electricity:

New York Power Company Says Price Cuts May Mean Bankruptcy
(DBN)

Court won't block Dynegy restructuring
(DBN)

PSEG Units Lose Bid to Halt Dynegy Restructuring Transaction
(DBN)

______________

Corporate Reform:

Elizabeth Warren to Staff: You Stay Classy, Consumer Financial Protection Bureau
(DBN)

Dodd-Frank Detractors May Be Headed to a Courthouse Near You
(DBN)

Dodd Frank: How Financial Reform is a Sham
(DBN)

Cordray braces for Senate hearing on CFPB nomination
(DBN)

Consumer Protection Bureau: A Small Business Friend or Foe?
(DBN)

______________

Retail:

Ride or Die
(DBN)

Books-A-Million's story faces uncertain future
(DBN)

Borders Group Liquidation: Book Chain Wants to Auction Web Site, Customer Data
(DBN)

Liquidation sales are a lot of hype
(DBN)

______________

Health Care:

Quincy Medical Center's pay to adviser opposed
(DBN)

Rural SC hospital lays off 1/3 of its employees
(DBN)

No plans for former Philipsburg hospital
(DBN)

Ombudsman: Lower Bucks Hospital improving
(DBN)

______________

Food/Beverage:

NC chicken plants closing, laying off 1000
(DBN)

Unprecedented setbacks prompt Pilgrims retreat
(DBN)

Real Mex Restaurants Secures Lender Concessions in Restructuring
(DBN)

______________

Politics:

What Are Elizabeth Warren's Chances In The Massachusetts Senate Race? ‎
(DBN)

A Mobilization in Washington by Wall Street
(DBN)

______________

Mass Torts:

Miss. SC stays $322M case while mulling judge's involvement
(DBN)

______________

Book Reviews:

Why We Deregulated the Banks
(DBN)

______________

Orchestras:

Orchestras must evolve to survive
(DBN)

New legal moves threaten the Philadelphia Orchestra's endowment
(DBN)

______________

Bankruptcy Crimes:

Munhall woman pleads guilty in bankruptcy scheme
(DBN)

______________

UK:

Consumer judgments plummet
(DBN)

Lack of credit for small businesses set to swell insolvencies
(DBN)

Number of UK retailers going bust jumps 25 per cent in the last quarter
(DBN)

Lenders 'are being less supportive' to small firms
(DBN)

Winding Up Petitions - 29 July 2011
(DBN)

______________

EU:

A hapless union has lost its direction
(DBN)

Euro-zone manufacturing at near standstill in July
(DBN)

______________

PIIGS:

Moody’s Puts Spain’s Debt on Review
(DBN)

Italy's Funding Costs Surge
(DBN)

IE: Nama Reveals €1.1 Billion Loss For Last Year In Annual Report
(DBN)

Irish Property Crash: Full List Of 850 Nama Properties Up For Sale
(DBN)

McInerney in Receivership
(DBN)

A&O, Jones Day and Irish duo advise as investors plough $1.6bn into Bank of Ireland
(DBN)

Italy, Spain Worries Complicate Greece Aid
(DBN)

Spain's socialist premier calls early election as economic woes increase
(DBN)

______________

Denmark:

Standard & Poor's: Up To 15 Danish Banks At Risk Of Failure
(DBN)

______________

Switzerland:

Swiss National Bank Under Pressure From All Sides
(DBN)

______________

Australia:

Government must reform regulatory bodies to prevent liquidation frauds
(DBN)

Bankruptcy trustee hunts Richard's money
(DBN)

______________

MENA:

Ex-Deutsche team's firm eyes Nakheel creditor claims
(DBN)

______________

BRICs:

Banks in BRICs Signaling Credit Risks as Bad Loans Curb Growth
(DBN)

______________

Russia:

Yukos Bankruptcy 5 Years On
(DBN)

______________

 

 

 

Please note that The Daily Bankruptcy News is primarily a curated 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