December 9, 2011

The Daily Bankruptcy News

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Law:

Linklaters Plans to Restructure Again; Up to 35 Partners Could Exit or Be De-equitized --- To axe up to ten per cent of partnership --- Other firms likely to follow suit --- A&O, Clifford Chance, Freshfields: We're not cutting our partnerships
(DBN)

S&C Mostly Matches Cravath on Bonuses, But Sees More Green Come Spring
(DBN)

Bonus Watch: Weil Matches Cravath (And There’s Nothing ‘Distinguished’ About It)
(DBN)

'Catholic Knight Witch Hunter'? Judge Weighs Response to Epithet
(DBN)

Los Angeles Bankruptcy Attorney Set to Lead Sheppard Mullin’s New Seoul Office
(DBN)

What Steve Jobs can teach law firms about marketing
(DBN)

Thinking About Interviews
(DBN)

Tips for Selecting a Legal Recruiter
(DBN)

Hawaii Seeks Money From DLA Piper
(DBN)

Lawyerly Lairs: Cravath Cribs (Part 1)(A million-dollar penthouse — for a non-partner.)
(DBN)

Former Nixon Peabody Partner Charged with Altering Documents to Protect Client
(DBN)

Hughes Hubbard to Open Kansas City Office with Shook Hardy Lawyers
(DBN)

Herbert Smith to Reopen in New York
(DBN)

Simmons cuts exiting partner payouts in performance crackdown
(DBN)

Freshfields faces £68m negligence claim
(DBN)

Deloitte research shows leading UK firms posted robust growth in second quarter
(DBN)

Banking, Finance or Restructuring Team of the Year: Ashurst
(DBN)

UBS, Goldman, HSBC, Aetna, Citic Pacific, News Corp., F-1 in Court News
(DBN)

JPMorgan, HSBC, Apple, Pfizer, Wells Fargo in Court News
(DBN)

Cooley Law Dean Decries ‘Apocalyptic’ View of Legal Market, Cites Employment Stats
(DBN)

Thoughts on Law School
(DBN)

Options for law schools
(DBN)

Richard Epstein and John Yoo on Law School Reform
(DBN)

Hate Crime Suspected In Stabbing of Law Professor
(DBN)

Mercer U Law Grad McDaniels Faces Death Penalty If Convicted in Slaying of Classmate Lauren Giddings
(DBN)

Mobile Lawyering: Not Yet in Sync
(DBN)

Jerry Sandusky's Wife Says Accusers Are Making Up Their Stories
(DBN)

How To Survive Your Company's Holiday Party Without Making A Complete Fool Of Yourself --- How Drunk Can You Get?
(DBN)

Public School Tells Students to Come to Jesus
(DBN)

A Look into the Life of Tamara Tanzillo
(DBN)

15 Years for Former Debevoise P---
(DBN)

Man charged with stealing cash, trying to eat it
(DBN)

Defendant Saved by the Tweet
(DBN)

______________

Judges:

Lawyer Faces Possible Sanction for Signing Client Memo Calling Judges 'Bigoted Catholic Beasts'
(DBN)

US top court schedules Obama healthcare law briefs
(DBN)

Supreme Court Spouses Publish Cookbook in Tribute to Martin Ginsburg
(DBN)

Should Elena Kagan recuse herself?
(DBN)

______________

Wall Street:

Futures signal gains
(DBN)

Europe Stocks Fluctuate on Anti-Crisis Measures
(DBN)

Dow Closes Down 198 Points
(DBN)

Europe spooks U.S. markets
(DBN)

______________

Layoffs:

First-Time Jobless Claims in U.S. Decrease to Lowest Level in Nine Months
(DBN)

Why Pay Raises Have Become Rare
(DBN)

Economy Mostly Creating Low Paying Jobs
(DBN)

McGraw Hill to Fire 550 Workers
(DBN)

The curious case of women leaving the labor force in drovers
(DBN - NY Times - Paywall Limit Possible)

Worst Cities for Finding a Job
(DBN)

Where are the Millionaire Job Creators?
(DBN)

The Collapse of Construction Employment
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

______________

Autos:

Ford reinstates dividend after 5-year hiatus
(DBN)

Reuse of closed US auto plants on the rise
(DBN)

GM to Pay UAW Workers $12M in Bonuses
(DBN)

Toyota Lowers Annual Profit Forecast 54%
(DBN)

______________

Banking:

Washington Mutual eyes bankruptcy exit in February
(DBN)

Are the bankers to blame for our woes?
(DBN)

TN Commerce: FDIC receivership 'likely'
(DBN)

Wachovia agrees to $148 mln pact with SEC, states
(DBN)

Jamie Dimon complains about this tax rate, doesn't know what his tax rate is
(DBN)

CoCos no salvation as banks start capital hunt
(DBN)

______________

Baseball:

Dodgers, Fox Battle Over Media Rights Sale --- TV Rights Worth $100 Million a Year, Fox Expert Testifies --- Contract provision is key
(DBN)

Bankruptcy judge rejects Fox Sports objection, approves sale of Dodgers media rights --- Fox, Dodgers statements
(DBN)

Fox witness attacks Dodgers media rights sale --- Dodgers' TV Contract Was Designed to Bind Team to Fox Sports
(DBN)

Incoming TV money explains Pujols signing
(DBN)

______________

Aviation:

American Airlines bankruptcy : Frequent flyer miles safe?
(DBN)

AMR's Bankruptcy Turns The Cost Spotlight On Southwest
(DBN)

3 Simple Lessons To Learn From AMR's Bankruptcy Filing
(DBN)

Stock plummets as shareholders ditch hopes of getting anything --- AMR stock: It goes up and up and up, and down --- Shareholders May Get Nothing but Air --- The foolhardy speculate in bankruptcies despite dubious history
(DBN)

By the end of his tenure at American Airlines, Arpey simply didn't have the support to continue
(DBN)

Why Can't Airlines Make Money?
(DBN)

Service tax dept freezes Air India, Kingfisher accounts for default
(DBN)

Alex Baldwin Apologizes to Fellow Passengers --- American Airlines snips back at Alec Baldwin
(DBN)

When Airlines Depart Cities, Businesses May Follow
(DBN)

______________

Media:

Fees Climb in Tribune Company Case
(DBN)

______________

Protests:

Elected Officials Run and Lock Doors as Jobless Storm Capitol
(DBN)

The Occupy Wall Street Movement Plots a Comeback
(DBN)

Protesters vow to reoccupy on movement's anniversary
(DBN)

Ex-Occupier now holds Wall Street job
(DBN)

Foreclosed in Brooklyn: House Repairs as Protest
(DBN)

Occupy Wall Street Turns to Foreclosure, Eviction Defense
(DBN)

Boston -- Maine -- DC -- New Orleans -- SF -- Eugene -- Calgary -- Santa Cruz -- Des Moines -- Charlottesville -- Missoula -- Toronto
(DBN)

Port shutdown pledged despite union rejection
(DBN)

FSA boss hails "fruitful" meeting with Occupy London
(DBN)

The Most Iconic Photos From OWS So Far
(DBN)

______________

Retailing:

Pacific Sunwear to close 175 to 200 underperforming stores
(DBN)

Midtown Manhattan Filene's Basement/Syms Store Is DOA
(DBN)

Amazon picks fight with retailers; New price check app
(DBN)

______________

Economy:

US Household Wealth Takes Biggest Hit Since 2008 --- Typical US piggy bank is $21K lighter
(DBN)

Hiring outlook brightens as jobless claims fall
(DBN)

US Economic Recovery Tests Patience
(DBN)

One Possible Reason for the Slow Economic Recovery
(DBN)

Global Slowdown Will be of Biblical Proportion
(DBN)

Americans Set "Rich" Threshold at $150,000 in Annual Income --- Sometimes it’s a jungle out there living on $50K
(DBN)

Poll: US Economy Bouncing Back
(DBN)

Democratic, Republican payroll tax cut extension plans both blocked by Senate
(DBN)

How Payroll Tax Cuts Will Affect Social Security's Future
(DBN)

Congress Edges Away From Brink on Budget
(DBN)

Jamie Dimon tells a joke about Ben Bernanke
(DBN)

Big companies paying less tax than before the recession, even as profits rebound
(DBN)

Household Debt Shrinks for 13th Quarter
(DBN)

What Could Go Right (and Wrong)for the Economy in 2012
(DBN)

Economic Stress Map
(DBN)

Economy Tracker Map
(DBN)

US Debt Clock
(DBN)

______________

Real Estate:

Laboratories of Democracy and the Commissioners of Uniformity
(DBN)

Holdings May Give Buffett Role in ResCap Plan
(DBN)

Barney Frank Seeks Congressional Probe Of Ally Financial
(DBN)

How Speculators Poured Fuel on the Housing Fire
(DBN)

Bank of America All In – Calling Moynihan’s Bluff to Bankrupt Countrywide
(DBN)

Treasury Slams JPMorgan Chase On Servicing Performance
(DBN)

Long Island’s Frenkel Lambert Looks to Expand in Upstate NY After Baum Firm Collapse
(DBN)

HUD Calls Housing Recovery “Mixed” With Foreclosures Up, REO Sales Down
(DBN)

Going Bankrupt in 2012, but Keeping Your Home
(DBN)

This New Jersey Neighborhood Was Decimated By Foreclosures
(DBN)

In Foreclosure Capital, Meltdown And Poverty Feel Permanent
(DBN)

Las Vegas lenders unlikely to face jail for unkempt properties
(DBN)

What Are Buyers Really Putting Down for a Mortgage?
(DBN)

Maine Court Refuses To Find GMAC In Contempt On Robo-Signing
(DBN)

Auditors Sued Over Financial Fraud at Failed Firm
(DBN)

Judge expands power of trustee overseeing Epicentre --- EpiCentre operators “blackmailed” by owners
(DBN)

Dramatic Increase In Balance Of CMBS Conduit Loans Liquidated
(DBN)

The 15 Best Housing Markets For The Next Five Years
(DBN)

NYC Named Priciest Commercial Real Estate Market Of 2011
(DBN)

One in Three Builders Lose Sale Due to Faulty Appraisal
(DBN)

New Senate bill would privatize Fannie, Freddie within 10 years
(DBN)

_____________

MF Global:

Not just Corzine who can't find the money
(DBN)

Corzine blames predecessors for MF Global's fall --- Doesn't Know Location of Missing Funds --- 'Sorry, puzzled' --- 'Stunned' --- Client's Counsel Blasts Corzine: 'Cowardly' --- Corzine's culpability --- Part of 'Goldman Sachs fraternity' --- Little better than Fuld's defiance --- Didn't 'Intend' to Break Rules --- 'Devastated' ---Victims jeer at 'explanation' --- Full Text --- Corzine: Tax Changes Caused MF Global Demise, Not EU Debt Bets
(DBN)

The fruitless inquisition of Jon Corzine
(DBN)

Regulator says missing MF funds are top priority --- Will Pursue All ‘Legally Available’ Assets
(DBN)

Hearing Witnesses:The Honorable Jill Sommers, James Kobak, Jon Corzine, John Fletcher, Terrence Duffy, William J. Brodsky, Dan Roth, Stephen Luparello, Gerry Corcoran

Duffy defends CME in MF Global's collapse
(DBN)

RJ O'Brien CEO Corcoran Testifies at Hearing on MF Global Bankruptcy
(DBN)

CFTC Commissioner Sommers testifies
(DBN)

Highlights: House panel's hearing on MF Global bankruptcy
(DBN)

On the hotseat Corzine stakes his legal ground --- Corzine's Intent Was to Head Off Possible Claims, Lawyers Say --- Speculation On Corzine's Strategy
(DBN)

MF Global Parent Creditors Won’t Soon Receive Distributions, Trustee Says
(DBN)

Lawyer ups estimate on MF Global customer accounts
(DBN)

Can funding-squeezed federal watchdogs prevent future MF Globals?
(DBN)

Lucas Calls for Information on MF Global Bankruptcy
(DBN)

Corzine's loss may be Soros's gain --- Soros Bought $2 Billion Ex-MF Global Europe Debt
(DBN)

Five Reasons Why Wall Street Enjoyed The Corzine Hearing
(DBN)

CME's Duffy says MFGI moved customer funds
(DBN)

Newedge's McDonald on MF Global Bankruptcy
(DBN)

MF Global U.K Administrators to Hold January Creditor Meeting
(DBN)

______________

Municipalities:

Detroit nears bankruptcy
(DBN)

Judge gives more appeal time to sewer receiver, will continue with ruling
(DBN)

Harrisburg Mayor Faces Foreclosure On Commercial Property --- Mayor's financial problems spark concern
(DBN)

MI retooling emergency manager law --- What's really driving state takeovers: It ain't race
(DBN)

Is the Housing Bust About to Slam City Budgets?
(DBN)

US State Tax Revenues Return to Pre-Recession Levels
(DBN)

10 Highest State Income Tax Rates for 2011
(DBN)

______________

Transport:

Judge to Set Creditors' Claims Deadline In Trailer Bridge
(DBN)

______________

Politics:

Not Beating Elizabeth Warren , Republican Admakers Try to Join Her
(DBN)

Elizabeth Warren coming under attack
(DBN)

Rove group releases new ad tying Warren to Wall Street --- Elizabeth Warren : Wall Street's best Marxist friend
(DBN)

Jon Huntsman: 'The People Are Getting Screwed In This Country'
(DBN)

The GOP's sudden enthusiasm problem
(DBN)

Lies and Denial: the 2012 GOP Strategy
(DBN)

Gringrich's Half Sister Goes for Obama
(DBN)

Abramoff: Corruption Remains Legal and Prevalent
(DBN)

______________

Student Debt:

Are Student Loans The Next Shoe To Fall? --- America's next financial crisis
(DBN)

Unbelievable Loan Horror Stories
(DBN)

______________

Credit Reporting:

Study Says Being Impatient Is Trashing Your Credit Score
(DBN)

______________

Health and Beauty:

Private equity firm to acquire American Laser Centers after ...
(DBN)

______________

Corporate Governance:

Forecasting Governance and Compliance Trends for 2012
(DBN)

______________

Mail:

11 Services That Don't Exist Anymore At The US Post Office
(DBN)

______________

Accounting:

Olympus inquiry blames auditors --- Auditors trashed
(DBN)

E&Y sets up external panel to probe Olympus audit
(DBN)

______________

Lehman:

Confirmed!
(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 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:

Rochelle on Dodgers, Madoff, Senior Residences, Posner
(DBN)

______________

Bankruptcy Statistics:

 

Interactive Bankruptcy Statistics Map
(DBN)

______________

Distressed Investing:

Investors Ready for 2012 Bankruptcy Bonanza
(DBN)

______________

Celebs:

“This is my life!” Martino rants. Educates on bankruptcy
(DBN)

______________

Corporate Reform:

Senate Rejects Another Top Candidate for Consumer Panel
(DBN)

Lousy Filibusters: Richard Cordray Edition --- 99 Percenters, Meet the Fearsome 40
(DBN)

Obama Should Pull a Teddy Roosevelt and Appoint Cordray ---Obama not giving up on Cordray for CFPB --- Hints at recess appointment
(DBN)

Richard Cordray is no Elizabeth Warren
(DBN)

Spinning Cordray
(DBN)

Here's Why We're Totally Obsessed With Richard Cordray
(DBN)

How Do You Neuter the Consumer Finance Protection Finance Bureau and Get Away With It?
(DBN)

Still No Wall Street Accountability
(DBN)

Sheila Bair Slams Volcker Rule
(DBN)

______________

Insurance:

3 Small Insurers Placed into Receivership in Missouri
(DBN)

Billion Dollar Disasters Smash US Record
(DBN)

Insolvency exclusion bars coverage for claims due to underfunded employee benefit plans
(DBN)

______________

Defaults:

US Corporate Default Rate Holds Steady --- May Rise in 2012, Moody's Says
(DBN)

______________

Fraud:

Congress Isn’t Supposed to Be Above the Law
(DBN)

Madoff Trustee Sues Julius Baer, Falcon to Recover Funds
(DBN)

Garrett Bauer Pleads Guilty to Trading on Stolen Merger Tips
(DBN)

Deep Roots of Fraud at Olympus
(DBN)

______________

Health Care:

White knight emerges for bankrupt Peninsula Hospital
(DBN)

Judge to name hospital overseer
(DBN)

Kentuckiana Medical Center clears one step
(DBN)

______________

Mass Torts:

Asbestos Litigation: Peaked in U.S., emerging abroad
(DBN)

SF Superior Judges Challenge Special Rules for Asbestos Cases
(DBN)

______________

UK:

UK shoe retailer Barratts enters administration
(DBN)

Appointment of Administrators - 7 December 2011
(DBN)

Yell Set To Extend Debt Restructuring Talks
(DBN)

Queen Elizabeth Is Only Earning $50 Million This Year
(DBN)

______________

EU:

EU Is Headed for 'Chapter 11': Economist
(DBN)

Europe Friday: Over promise, Under Deliver Again?
(DBN)

EU Drafts Rescue-Fund Plan --- You're Either At The Table Or You're On The Menu
(DBN)

EU Leaders Drop Demands for Investor Write-Offs in Bailouts
(DBN)

'Multi-speed' Europe emerges after EU summit clash
(DBN)

Cameron Wishes Euro Bloc Well as UK Negotiates Isolation --- UK Will Never Join Euro --- Vetoes EU-wide treaty change --- Most other EU nations agree to closer fiscal ties --- Fail: EU Official Says All 27 Countries Won't Back A Treaty Change
(DBN)

Europe’s disastrous summit --- Latest EU Deal Still More Can-Kicking
(DBN)

Euro Zone Splits and 20% Unemployment
(DBN)

ECB willing to help banks, not governments --- Cuts rates 25 bps
(DBN)

ECB cool on more bond buying, lending to IMF
(DBN)

Lack of bond buying plan sends stocks lower
(DBN)

The Entire European Summit In One Genius Venn Diagram
(DBN)

Germany Rejects Proposals For Bailout Fund, Eurobonds
(DBN)

Citi: Europe is headed for a recession that will last 6 consecutive quarters
(DBN)

Student With 0.0 Grade Average Has EU Insight
(DBN)

Distressed debt investors eye Europe
(DBN)

Speculators Trapped by Euro Zone Resilience
(DBN)

Why the Euro crisis is really about growth, not debt
(DBN)

All This Extra Liquidity Won't Solve Anything
(DBN)

10 Big Issues At The Heart Of The Euro Crisis
(DBN)

Scariest Prediction Yet if Euro Collapses
(DBN)

EU Banks Must Raise $153B of Extra Capital: EBA
(DBN)

Why European Banks Deserve A Massive Bailout At 100 Cents On The Euro
(DBN)

Liquidity twist on bank liability management
(DBN)

Corporate Bond Risk Rises in Europe, Credit-Default Swaps Show
(DBN)

______________

PIIGS:

Italy, Spain Lead Debt Slump on Bets ECB Won't Buy More Bonds
(DBN)

SG warns on potential Spanish burden-sharing
(DBN)

Sabadell To Buy Seized Spanish Bank CAM In Assisted Deal
(DBN)

Greece: Targets become unattainable
(DBN)

Greek output plunges, jobless rate near record highs
(DBN)

To Fight Deficit Greek Retirement Age Must Rise To 82
(DBN)

Lazy Greeks? Think Again!
(DBN)

Greece's Papandreou Calls Crisis Response 'Too Little Too Late'
(DBN)

______________

France:

Moody's downgrades 3 leading French banks amid worsening eurozone debt troubles
(DBN)

______________

Germany:

German Exports Fall Sharply
(DBN)

______________

New Zealand:

D&O: The Bridgecorp Case
(DBN)

______________

MENA:

Nakheel pays Dh7.3 billion to its trade creditors
(DBN)

Dubai may 'muddle' through debt financing strategy in 2012, says BofA
(DBN)

______________

Japan:

Olympus' management reform in doubt
(DBN)

______________

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Copyright 2011