January 20, 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:

Bonus (and Salary) Watch: Goodwin Procter
(DBN)

Law firm becomes go-to counsel for Catholic dioceses in bankruptcies
(DBN)

Kane Russell Expands Houston Presence
(DBN)

Am Law Firms Gear Up For IPO Bonanza in 2011
(DBN)

Cry Baby
(DBN)

Firm ushers in 50-hour week benchmark for partners
(DBN)

Court dismiss all claims with prejudice when plaintiff hires local attorney to "improperly influence" trial judge
(DBN)

Rainmaker Bunsow’s Exit From Howrey Shifts $20M Book of Business to Dewey, Says BLT
(DBN)

Expansive Dewey secures seven senior lateral hires in a day
(DBN)

New Dewey San Francisco Office is 2nd Announced in 1 Day to Be Headed by Howrey IP Defector
(DBN)

Office Boss, Five More Defect From NY BigLaw Firm
(DBN)

Gibson Dunn Hires Four from Vinson & Elkins
(DBN)

Buying in Bulk
(DBN)

BigLaw Firm Accused of Racketeering Loses Bid to Get Its Lawyers Back
(DBN)

Texas Proposes Anti-Flat Fee Rule For Lawyers
(DBN)

Why Dissing Another Law Firm in an Interview Isn't a Good Idea
(DBN)

The Associate Review--Overdone?
(DBN)

Pls Hndle Thx: Requiem for a Rival Attorney?
(DBN)

Funeral Is a Rainmaking Opportunity, Says ATL Advice Column Counterpoint
(DBN)

Lawyer Accused of Overcharging Exonerated Inmates Who Collected Under Law He Helped Pass
(DBN)

The insanity of trying to please a partner with a piece of written work
(DBN)

What Corporate Counsel WANT ... Versus What They NEED
(DBN)

Nationwide Title drops libel suit against lawyer
(DBN)

Staffers Stealing Is a Common Problem, But Many Law Firms Opt to Keep Quiet, Observers Say
(DBN)

Akin Gump Chair Hits Partner’s Personal Blog Post on ‘Ugly’ Indian Prayer
(DBN)

Addleshaws replaces Freshfields on part of RBS-Halliwells dispute
(DBN)

Proposed NC Ethics Opinion Says Lawyers Can’t Ethically Offer Groupon Deals
(DBN)

Why I love my strict Chinese mom
(DBN)

Fifth Circuit Approves Race-Based Admissions at Univ. of Texas
(DBN)

Fifth Circuit Upholds Affirmative Action, But Is It Begging for SCOTUS Intervention?
(DBN)

Do you know me?
(DBN)

BofA, Apple, JPMorgan, Boeing, MGA, UBS in Court News
(DBN)

Wife’s Alleged Affair With Top Cop Puts BigLaw Partner on Witness Seat in High-Profile Arson Case
(DBN)

Google Maps and a “Legal History Pin” Mashup
(DBN)

Posting Your 1L Grades on Facebook Makes You A …?
(DBN)

Book Argues Ideas Hatched in Law Schools Are ‘Catastrophically Bad for America’
(DBN)

Burglars snort man's ashes
(DBN)

When Clowns Attack
(DBN)

Hands Off The Nanny!
(DBN)

______________

Judges:

‘It’s Pretty Evident to Me That Judge Roll was a Hero’
(DBN)

Justice Kagan Goes House Hunting
(DBN)

What Is To Be Done About Super-Old Judges?
(DBN)

Supreme Court Bench Slaps 9th Circuit
(DBN)

Ninth Circuit Judge Stephen Reinhardt Feels High Court's Wrath
(DBN)

Friends of the Court?
(DBN)

______________

Wall Street:

Stock Index Futures Signal Pause After Selloff
(DBN)

How the Major Stock Indexes Fared Wednesday
(DBN)

Banks, tech send Wall St to worst drop in 2 months
(DBN)

At Goldman, Quarterly Profit Drops 53%
(DBN)

In Crisis Goldman Sowed Seeds of Riches
(DBN)

Goldman Cuts Worker Compensation Pool to $430,700 Each
(DBN)

17 Awesome Toys That Goldmanites Should Buy With The $430,000 They're Getting Paid This Year
(DBN)

Goldman’s monster financial-crisis pay award
(DBN)

Goldman Defies Public Fury with Huge Bonuses
(DBN)

Inside Goldman's Golden Circle
(DBN)

Study Points to Windfall for Goldman Partners
(DBN)

Goldman’s curious partnership …
(DBN)

Facebook Flop Riles Goldman Clients
(DBN)

______________

Layoffs:

In Wreckage of Lost Jobs, Lost Power
(DBN)

Unemployment datapoints
(DBN)

Gordon Brown warns against global youth unemployment epidemic
(DBN)

Boeing Cutting 900 Jobs in Long Beach
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

______________

Municipalities:

Bankruptcy works: Why Congress should consider bankruptcy for states
(DBN)

Bankruptcy code won't cure what ails US states
(DBN)

Municipal nut, meet your sledgehammer
(DBN)

Is Talk of State Bankruptcy a Self-Fulfilling Prophecy?
(DBN)

Public bankruptcy shows what bailouts hide
(DBN)

The 13 Worst States For Starting A Business
(DBN)

As US cities struggle, mayors say no to bankruptcy
(DBN)

Public-Worker Unions Battle US Governors Over Benefits in Change of Role
(DBN)

The Union Threat to the Democrats' Future
(DBN)

Higher Taxes Wouldn't End Some Deficits
(DBN)

Bankruptcy or Local Governments?
(DBN)

Defaults by Cities Looming as US Mayors Say Deficits Hinder Debt Payment
(DBN)

Villaraigosa on Los Angeles's budget, potential layoffs
(DBN)

Vallejo's exit plan: cuts, more cuts and haircuts
(DBN)

Vallejo proposes $6 million for unsecured claims
(DBN)

Vallejo Bankruptcy Plan Would Pay Creditors as Little as 5%
(DBN)

Clark transition team warns of New Castle County insolvency
(DBN)

Alexandra Lebenthal and Meredith Whitney Square off in Muni Land
(DBN)

The fabulous life of Muni Queen Alexandra Lebenthal
(DBN)

5 reasons why investors shouldn't fear muni bonds
(DBN)

States Weigh Cuts in Hollywood Subsidies
(DBN)

______________

Celebs:

Oral Argument Transcript: Stern v. Marshall
(DBN)

Former Lions wide receiver Charles Rogers facing foreclosure on second home
(DBN)

______________

Food/Drink:

OfficeMax Says A&P Poached 2 Key Executives
(DBN)

Harry & David hires adviser after tough 2Q
(DBN)

The 50 Most Powerful People In Food
(DBN)

______________

Telecoms:

TerreStar Creditors Sue Senior Lenders, Saying Liens Are Void
(DBN)

Nortel Bonds Bustled on Tuesday
(DBN)

______________

Car Repair:

Jiffy Lube operator files for Chapter 11
(DBN)

______________

Golf:

Adams Golf Acquires Yes Putters
(DBN)

______________

Corporate Reform:

Treasury May Seek Input on Consumer Agency Proposals
(DBN)

Consumer Advocates Seek Military's Input
(DBN)

GOP's Latest Consumer Bureau Attack
(DBN)

Consumer Agency May Not Be Able To Oversee Payday Lenders, Mortgage Firms
(DBN)

Congress Should Control Consumer Agency Budget, Neugebauer Says
(DBN)

Issa Hearings to Focus on Bailouts, Foreclosures
(DBN)

Issa's first hearing: TARP scrutiny
(DBN)

Republicans Unhappy With Watchdogs’ Assessment of Consumer Bureau Powers
(DBN)

______________

Economy:

Financial Crisis Panel to Issue Report Jan. 27; GOP Members Plan Dissent
(DBN)

How Larry Summers hobbled Obama’s economic policy
(DBN)

The Output Gap
(DBN)

Changing Education Paradigms
(DBN)

GOP Cuts Will Affect Millions
(DBN)

World needs $100 trillion more credit, says World Economic Forum
(DBN)

Social Security in Worse Shape Than Thought
(DBN)

Economic Inequality Exploding In New York
(DBN)

Economic Stress Map
(DBN)

Economy Tracker Map
(DBN)

US Debt Clock
(DBN)

Bailout Recipients
(DBN)

______________

Real Estate:

Home building stuck near 50 year lows
(DBN)

Record Low Housing Completions in 2010
(DBN)

What's Good for G.M. Is Good for Homeowners
(DBN)

Shadow inventory threatens housing recovery
(DBN)

Fannie Mae: Housing starts to triple by 2013 to nearly 1.5 million
(DBN)

2010 ends as 2nd worst year for home construction
(DBN)

December home sales down 5% over a year
(DBN)

Architecture Billings Index highest since December 2007
(DBN)

Mortgage applications rose 5% last week: MBA
(DBN)

FDIC's Bair Rejects 30% Down Payment for Home Buyers
(DBN)

FDIC Chair Bair Calls for More Loan Mods and Fewer Foreclosures
(DBN)

The Mortgage Industry's Reputation Challenge
(DBN)

FDIC's Bair eyes bank fund for harmed borrowers
(DBN)

Top Regulator Pushes Settlement for Foreclosure Errors
(DBN)

FDIC's Bair: Mortgage Industry Should Compensate Consumers
(DBN)

FDIC Chief Condemns Mortgage Servicers While Ignoring FDIC Role In Mortgage Crisis
(DBN)

Biggest US Homebuilders Take Over Market as New-Home Sales Begin Rebound
(DBN)

Fountain Square II Trades in Bankruptcy Acquisition
(DBN)

Union Protesters Disrupt Mortgage Bankers’ Conference
(DBN)

Luxury Philadelphia high-rise 10 Rittenhouse in bankruptcy
(DBN)

FRI Investors hit with $70M foreclosure
(DBN)

Regions Center owner in foreclosure
(DBN)

12-story SoHo condo faces foreclosure
(DBN)

Abandoned Citrus Groves Produce Problems In Fla.
(DBN)

Moody's Says Home-Loan Re-Remics Could Put Buyers in Jeopardy
(DBN)

NY bank super says national mortgage servicing should mirror Empire state
(DBN)

Mortgage insurer MGIC reports $186.7 million net loss
(DBN)

Mortgage Insurer MGIC On The Verge Of Bankruptcy?
(DBN)

Uncle Sam's Real Estate Play
(DBN)

GMAC Dismisses 250 Maryland Foreclosures
(DBN)

Shockwaves of foreclosures to come?
(DBN)

Vacant homes become magnets for parties, code violations
(DBN)

From Struggling Owners to Stable Renters
(DBN)

Why Multi Family Housing Starts Are Going To Rebound In 2011
(DBN)

"I am not certain that it would be possible to put Humpty Dumpty back together again"
(DBN)

Mass. foreclosures up 32 percent in 2010
(DBN)

Chase Refunds $2M to Military Families
(DBN)

Senator Merkley Unveils Foreclosure Plan
(DBN)

Appeal to turn over sheriff's sales to Philly courts
(DBN)

Former head of NH mortgage firm gets 15 years
(DBN)

2nd official at failed NH mortgage firm sentenced to 6½ years in prison
(DBN)

'Bad Boy' Guarantees Snarl Billions in Real Estate Debt
(DBN)

Wells Fargo Won't Settle Fannie/Freddie Put-Back Cases
(DBN)

Judge Slaps Wells Fargo in Foreclosure
(DBN)

Lawyer, 2 employees indicted for mortgage fraud scheme
(DBN)

_____________

Banking:

Feds' suit targets state senator, other officials of failed bank
(DBN)

Wells Fargo's Fourth-Quarter Earnings Rise 21%
(DBN)

Investors Zero in on Bank Earnings on Wall Street
(DBN)

Fifth Third beats estimates as delinquencies fall
(DBN)

State Street 4Q income drops 84% from year earlier
(DBN)

Can Bank Of America Be Hurt By Wikileaks - You Decide
(DBN)

Wells Fargo Posts 21% Gain in Its Profit
(DBN)

Tunnel Vision, or Worse, From Banking Regulators
(DBN)

______________

Fraud:

Galleon Insider Trading Case: Another Guilty Plea
(DBN)

Danielle Chiesi gets surprise court date in Galleon case
(DBN)

"A guy $30 million in debt still has a maid, a personal fitness trainer, a gardener, spends hundreds of dollars to have vehicles cleaned, and budgets $10,000 a month in household expense"
(DBN)

Farah accomplice gets 78 months in FRM fraud
(DBN)

Dozens of lawyers try to recoup Petters investment
(DBN)

Joel Steinger's Ponzi Palace
(DBN)

ConServe exec admits fraud
(DBN)

Allen Stanford's Lawyers Say Alleged Ponzi Schemer Needs Luxury Rehab
(DBN)

Investors' securities fraud claims against escrow company denied
(DBN)

Judge resolves ownership of Hecker house; bankruptcy estate can't have it
(DBN)

Feds move to secure alleged Ponzi
(DBN)

Rothstein's home, properties likely coming to market soon
(DBN)

______________

Newspapers:

Rivals Spar Over Tribune Plan
(DBN)

______________

Aviation:

American Airlines' parent AMR reports $97 million 4Q loss
(DBN)

Stranded Flier's Survival Guide
(DBN)

Real battle for JAL starts now, one year on
(DBN)

JAL Doubtful On Y50bn Capital Boost By March
(DBN)

______________

Banking:

Shareholders seek fast-track appeal of WaMu ruling
(DBN)

The List: The FDIC's Civil Actions Against Former Officials of Failed Banks
(DBN)

FDIC Files Civil Suit Against Former Integrity Bank Officials
(DBN)

B of A redefines 'grace period' with new fee
(DBN)

______________

Tax:

Tax Leak Consequences Depend on Details
(DBN)

Swiss Banker Who Turned to WikiLeaks Admits Errors
(DBN)

Big Shots Running Scared as Swiss Banker Found Guilty Over WikiLeaks Data
(DBN)

Tax Reform: What's Really on the Table
(DBN)

______________

Gambling:

Union argues against dismissal of New York City OTB bankruptcy case
(DBN)

______________

Video Rentals:

Blockbuster Creditors Discuss Sale, Cash Infusion
(DBN)

______________

Health Care:

House passes health law repeal
(DBN)

26 states join suit against law
(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)

Bankruptcy Jobs:

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

Seminars - (Contact us to list your seminar)

______________

Adequate Protection:

Sixth Circuit Bankruptcy Panel: Replacement Lien in Post-Petition Rent Is Not Adequate Protection if Lender Already Has Lien
(DBN)

______________

Executory Contracts:

Rejection of an Executory Contract Does Not Relieve a Debtor of Assumed Liabilities
(DBN)

______________

Appeals:

What’s a TOUSA Appellant Like You Doing in a District Court Like This?
(DBN)

______________

Lehman:

Lehman Not Seeking Damages From BofA Beyond Fees
(DBN)

Lehman says BofA should return another $9 million
(DBN)

Ernst files to move Lehman suit to federal court
(DBN)

______________

Valuation:

A Test to See if the Parts Are Worth More Than the Whole
(DBN)

______________

Corporate Governance:

At $200K Median Pay, Directors May Not Be Getting Enough, Wachtell Partner Says
(DBN)

New website: Proxy Monitor
(DBN)

______________

Litigation:

Head In (Oops!), I Mean for, the Clouds: Compliance in the Cloud and eDiscovery
(DBN)

Work E-Mail Not Protected by Attorney-Client Privilege, Court Says
(DBN)

Can Artificial Intelligence Ease the EDD Burden?
(DBN)

______________

Finance:

Firms With Collateral Gain an Edge
(DBN)

______________

Retailing:

Orchard Brands Files for Bankruptcy With Lender Financing Plan
(DBN)

Appleseed's files for Chapter 11
(DBN)

Anchor Blue Calls It Quits, Closing 115 Stores
(DBN)

______________

Consumer Debt:

Banks Say Fewer Consumer Loans Are Going Bad
(DBN)

______________

Resorts:

Club founder blasts ex-wife, says judge is biased
(DBN)

______________

Horse Racing:

Fifth Third Files Suit Against Gulf Coast
(DBN)

______________

Museums:

Chelsea Art Museum Pulled from Bankruptcy
(DBN)

Asian Art Museum of San Francisco: Risks Work for Artists, But Not for Galleries
(DBN)

______________

Religion:

Vatican Warned Bishops Not to Report Abuse
(DBN)

______________

Shipping:

Great Lakes Cargo Shipping Way Up in '10
(DBN)

______________

UK:

1,000 Scottish firms went to the wall in 2010
(DBN)

Scottish insolvencies “of great concern”
(DBN)

UK: Lost Generation of Young People
(DBN)

Old and bankrupt
(DBN)

Appointment of Administrators - 19 January 2011
(DBN)

Winding Up Petitions - 19 January 2011
(DBN)

Success fees reform looms in wake of Campbell/MGN ruling
(DBN)

Premier League Nears UK Settlement on Soccer Players' Tax Avoidance
(DBN)

______________

EU:

Soros tells Europe to bolster banks
(DBN)

Eurotunnel Wants To Refinance Debt To Benefit From Lower Rates
(DBN)

EBA Plans Second Round Of Stress Tests For European Banking Sector
(DBN)

EU's Barnier Warns Bankers Against Bumper Bonuses
(DBN)

Bonds at Risk as Moody's, S&P Poised to Lower Credit Ratings
(DBN)

_____________

Canada:

Norwood Resources declares bankruptcy after failing to get cash infusion
(DBN)

______________

Greece:

Greece Bonds Fall on Zeit Report of German EFSF Buyback Proposal
(DBN)

Greek Bondholders Unlikely to Get Paid Back in Full, Goldman's Wilson Says
(DBN)

Greece seeking better rates on rescue loans
(DBN)

______________

Ireland:

NTMA on defensive over access to Drumm documents
(DBN)

Irish investors lose millions in Ponzi
(DBN)

Ireland Growth Forecast Slashed Again
(DBN)

______________

Spain:

Crackdown on Tax Evasion Yields Results in Spain
(DBN)

Spain to Ramp Up Banks Bailout
(DBN)

______________

Germany:

Hypo Real Estate Wins Ruling to Force Out Flowers, Minority Shareholders
(DBN)

______________

Switzerland:

Swiss govt may extend crisis help to ease franc pain
(DBN)

Rudolf Elmer: "Boldest Whistleblower in Swiss Banking History"
(DBN)

Swiss court fines banking ‘whistleblower’
(DBN)

Switzerland freezes assets of former Ivorian and Tunisian presidents
(DBN)

______________

China:

US companies cite China business hurdles
(DBN)

China 'logs double-digit growth in 2010'
(DBN)

PEW: 65% see as 'adversary' or 'serious problem'
(DBN)

Obama Says Business Ties Crucial to China Relations
(DBN)

China Agrees to Buy $45 Billion in US Goods
(DBN)

Bets China Will Slow Growth
(DBN)

What's the #1 thing that Chinese consumers spend their money on
(DBN)

17 facts about China that will blow your mind
(DBN)

GE CEO: China one day will be world's biggest economy
(DBN)

______________

Hungary:

Number of insolvency procedures in Hungary grows 10% in 2010
(DBN)

______________

Russia:

Russia's Madoff Strikes Again
(DBN)

______________

Middle East:

Three cleared in Ponzi scheme case
(DBN)

______________

Australia:

ASIC facilitates insolvency advice for flood victims
(DBN)

______________

Brazil:

Brazil central bank raises interest rate to -- 11.25%
(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 2010