January 25, 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:

Quinn Emanuel Boosts Profits Per Partner to $3.62M, Hires Associates as Quickly as Possible
(DBN)

2010: The Year in BigLaw Layoffs
(DBN)

As Howrey Profits Plummet, Partner Says ‘We'll Take a Torpedo or Two’ But Likely Won’t Sink
(DBN)

Clifford Chance accounts reveal £41m staff costs savings in wake of restructuring, 12% cut
(DBN)

Firm's outsourcing deal to see 9% of back office staff laid off
(DBN)

Dechert to Pay $429K to Settle Meal-Break Claims
(DBN)

Couple claims lawyer failed to inform IRS of their Chapter 7 case
(DBN)

Hogan Lovells' international LLP set for £40m post-merger revenue boost
(DBN)

Legal Cost Transparency Sets Pricing Expectations
(DBN)

America, Here’s Your New Solicitor General To-Be: Don Verrilli
(DBN)

Hahn & Hessen Announces New Bankruptcy Partner
(DBN)

Is it Time for Law Firms to Get Their Groupon?
(DBN)

Wilmer's Profits, Revenue Rise in 2010
(DBN)

Wilmer is Hiring...in Dayton
(DBN)

Successful ‘Two Lads and a Laptop’ Law Firm Credits Back-to-Basics, Plain Language Focus
(DBN)

Veep Biden Latest to Get Hip to Red Hot Trend: Jury Duty!
(DBN)

Fellow Jury Pool Member Fails to Spot Joe Biden Despite Presence of Secret Service Agents
(DBN)

Colo. Secretary of State Plans to Moonlight at Law Firm to Help With $68K Government Salary
(DBN)

Worker Retaliation Lawsuits Broadened in Decision by US Supreme Court
(DBN)

Prosecutors Play Tough, Ask to Move Loughner Case to Tucson
(DBN)

Internet-Proofing your Cease and Desist Letter
(DBN)

Apps for New iPad Carrying Lawyer (Presentations)
(DBN)

iPhones, Android Phones And Security
(DBN)

Legal Project Management - The Next New Area for Paralegals to Conquer?
(DBN)

Slow Law: How to Practice Artisanal Law :)
(DBN)

New Jersey used to have the reputation as the toughest disciplining jurisdiction for attorneys
(DBN)

Law Student Solicits Donations on eBay
(DBN)

Fewer People Took the LSAT Last Year, But Numbers Were Still Second Highest Ever
(DBN)

'Convict' monkey stages daring cage break
(DBN)

Cook's hair breakfast sandwich leads to jail time
(DBN)

Lawsuit of the Day: You Didn't Really Think You Were Eating ‘Beef’ at Taco Bell?
(DBN)

Clerk recognizes disguised robber from previous hold-up
(DBN)

New Jersey Woman's 'Alien Hand' Attacks Her And Unbuttons Her Blouse
(DBN)

______________

Judges:

ND's federal bankruptcy court judge retiring after nearly 30 years
(DBN)

Ninth Circuit Names Three New Bankruptcy Judges in Central District
(DBN)

Clarence Thomas and His Wife’s $680,000 of Unreported Income
(DBN)

Thomas Says He Erred on Disclosure Forms
(DBN)

NY Judges Present Range of Moonlighting Requests for Extra Pay
(DBN)

Chuck Schumer warns of 'crisis' in Judiciary
(DBN)

Study Analyzes Laughs at Supreme Court
(DBN)

Will SCOTUS Go to the SOTU This Year?
(DBN)

Supreme Court Justices Could Be No-Shows For SOTU Address
(DBN)

______________

Wall Street:

Investors propel Dow to its highest level since June 2008
(DBN)

Blue Chips Jump
(DBN)

Morgan Stanley CEO Tackles Staffers’ Pay Gripes
(DBN)

In 2006, My Goldman Brokers Told Me NOT To Invest In John Paulson, A "Bit Player"
(DBN)

Captain's Log: J.P. Morgan . . . And Mistress
(DBN)

Compensation: Clash of the Titans
(DBN)

______________

Layoffs:

More Hiring Expected as Gloom Starts to Lift
(DBN)

GM to Add 750 Jobs to Truck Factory in Flint, Subject of `Roger & Me' Film
(DBN)

Laid-off workers will fill 750 jobs in GM's third Flint shift
(DBN)

Tunisia: A Higher Education Bubble
(DBN)

UN: Global Unemployment Levels Stagnate at 205M
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

______________

Municipalities:

More On Why The "State Bankruptcy" Idea Is Dangerous Nonsense
(DBN)

State Bankruptcy Is a Bad Idea
(DBN)

Bankruptcy for states a bad move
(DBN)

State Bankruptcies? 'Ludicrous,' He Says
(DBN)

"They should go bankrupt. I'm looking forward to it."
(DBN)

The Next Time Someone Advocates State Bankruptcies, Ask Them This One Question...
(DBN)

S&P warns of more muni bond downgrades
(DBN)

City crumbles under weight of debt
(DBN)

Bankrupt communities put our security in jeopardy
(DBN)

Houston faced with staggering contributions to pensions
(DBN)

Why State Bankruptcies May Be a Bad Idea
(DBN)

State bankruptcy bill imminent, Gingrich says
(DBN)

It's a bankrupt idea
(DBN)

Bankruptcy would help U.S. states squeeze unions
(DBN)

Union spokesman: Wall Street to blame for state budget
(DBN)

How Public Unions Took Taxpayers Hostage
(DBN)

Muni bonds taking a double hit
(DBN)

Muni Land Contrarians
(DBN)

The New Danger in the Municipal Bond Market: State Bankruptcies
(DBN)

Will GM's Politicized Bankruptcy Become a Model for States?
(DBN)

Changes Will Hit Pensioners, Bond Holders Hardest, If a State Goes Broke
(DBN)

Conn. gov calls state bankruptcy idea "crazy talk"
(DBN)

California State Treasurer Slams State Bankruptcies And Demands The Rest Of America "Thank California"
(DBN)

Treasurer Bill Lockyer says Newt Gingrich proposal to let states file for bankruptcy "cynical" and "intended to incite panic"
(DBN)

California, let your broke flag fly
(DBN)

Pawlenty: Consider letting states have bankruptcy
(DBN)

The Planet Illinois
(DBN)

Illinois, the worst is yet to come.
(DBN)

Isakson sees bankruptcy as option for states
(DBN)

Cantor: ‘No Federal Bailout of States’
(DBN)

Cantor Opposes Bankruptcy
(DBN)

Investors should turn to municipal bonds for states, cities that are 'Too Big to Fail' for security
(DBN)

Potholes Gape From Detroit to New York as Funds Fade
(DBN)

Delinquent Utility Bills Triple
(DBN)

______________

Economy:

Uncertainty Over Economy Clouds Obama Speech
(DBN)

The War on Demand
(DBN)

The GOP Is Going To Play A Pretty Brilliant Move In The Debt Ceiling Fight
(DBN)

Global Price Fears Mount
(DBN)

Financial Crisis Panel Said to Refer Cases to Justice
(DBN)

Home Prices in US Probably Fell at Faster Pace; Consumer Confidence Rose
(DBN)

At Davos, a litany of problems awaits leaders
(DBN)

A Hefty Price for Entry to Davos
(DBN)

GOP Faces Juggling Act in US Spending Cuts
(DBN)

Texas Was The #1 Stimulus Moocher
(DBN)

Rising Inequality In The US Was A Major Cause Of The Recent Crisis, And Little Is Being Done To Address It
(DBN)

Economic Stress Map
(DBN)

Economy Tracker Map
(DBN)

US Debt Clock
(DBN)

Bailout Recipients
(DBN)

______________

Real Estate:

US overinvestment in housing: Was the bankruptcy code to blame?
(DBN)

Fannie and Freddie spending lavishly on lawyers
(DBN)

US Commercial Property Prices Rise for Third Month
(DBN)

JPMorgan Refused Mortgage Repurchases It Also Sought, Ambac Says
(DBN)

Bay area foreclosed resales increase for fifth consecutive month
(DBN)

Sales of Distressed Homes increased in December
(DBN)

US Treasury's Report on Fannie, Freddie Reform Is Delayed
(DBN)

Two Texas Republicans taking lead on GSE privatization, CFPB creation
(DBN)

More rumors surface on future explicit guarantee of Fannie Mae MBS
(DBN)

Deal Removes Challenger to Meruelo Maddux Exit Plan
(DBN)

JPMorgan: Annual homes sales must average 5.5 million to absorb liquidations
(DBN)

Moody's: Ally Financial ruling "a serious blow" to mortgage investors
(DBN)

Mortgage Giants Leave Legal Bills to the Taxpayers
(DBN)

Campbell Surveys: Strong distressed property sales bookend robo-signing debacle
(DBN)

GMAC: Spectral Hand of "Robosigning"
(DBN)

Under bank pressure, VA legislators sidetrack foreclosure
(DBN)

Rural areas of Va. hit hard by foreclosures
(DBN)

Distressed properties still plentiful
(DBN)

Strategic Defaults: An Unfortunate Necessity of the Housing Crisis
(DBN)

Iowa AG Miller to meet with consumer groups on robo-signing settlement
(DBN)

New Jersey Court Rules That Lost Note Does Not Preclude Foreclosure
(DBN)

As foreclosures rise, so do lawsuits
(DBN)

Life Insurers Sue Countrywide, And Allege "Massive Fraud" In Mortgage Sales
(DBN)

Ten indicted in California mortgage fraud scheme
(DBN)

Market braces as final qualified residential mortgage rule nears
(DBN)

_____________

Retailing:

JC Penney to Shutter Stores, Taps Bill Ackman for Board
(DBN)

______________

Banking:

21st century shell game: How bankers play and taxpayers pay
(DBN)

United Western Bank Says Its Seizure Was Premature
(DBN)

Tracking Bank Failures: Regulators Close Banks in Four States
(DBN)

Barclays may change bonus plan
(DBN)

Loving CoCo's
(DBN)

The WaMu lesson: craft your releases carefully
(DBN)

______________

Mail:

Postal Service to close another 2000 locations
(DBN)

______________

Telecoms:

FairPoint Communications emerges from bankruptcy
(DBN)

______________

Debt Collection:

Debt collection math
(DBN)

______________

Corporate Reform:

Warren nimble in building Consumer Financial Protection Bureau
(DBN)

Elizabeth Warren Chats With … Ron Howard?!
(DBN)

SEC Probes Goldman's Ties to Former Massachusetts Treasurer
(DBN)

Goldman exec to SEC : Revolving door in reverse
(DBN)

______________

Corporate Governance:

Envisioning A ‘New Poison Pill’ To Thwart Activists
(DBN)

______________

Aviation:

Mexicana Airline To Resume Flights 'Soon' With Seven Planes
(DBN)

The Cost of JAL's Long Delay
(DBN)

______________

Media:

Tribune Creditors Seek Information on Buyout
(DBN)

Tribune Creditors May Be Seeking Too Many Documents, Bankruptcy Judge Says
(DBN)

______________

Private Equity:

Private Equity Fundraising is on the Rise Yet Exit Timelines Lengthen
(DBN)

Private Equity Makes Return to IPO Game
(DBN)

______________

Health Care:

SVCMC's Brooklyn nursing home sale delayed
(DBN)

______________

Accounting:

Layoff Watch ‘11: PwC Discontinuing Global Best Practices Unit
(DBN)

PwC Partner Says His Lack of Whiteness Stifled His Pay; Sues Firm
(DBN)

______________

Autos:

GM's China sales pass US for first time in history
(DBN)

______________

Golf:

Taberna country club, golf course considers bankruptcy
(DBN)

______________

Religion:

Five with abuse claims appointed to committee in archdiocese bankruptcy
(DBN)

Churches Find End Is Nigh
(DBN)

______________

Trucking:

Arrow claims dismissed
(DBN)

______________

Finance:

Update on Second-Lien Financings and Intercreditor Agreements
(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)

Bankruptcy Jobs:

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

Seminars - (Contact us to list your seminar)

______________

Miscellaneous:

Restructuring Pros Break Out Crystal Balls For Weil Study
(DBN)

Recent Developments in Distressed Debt, Restructurings and Workouts 2011
(DBN)

______________

Bankruptcy Reform:

Republicans back Bankruptcy Expansion
(DBN)

______________

Bankruptcy Statistics:

Small business bankruptcies jump in California
(DBN)

Interactive Bankruptcy Statistics Map
(DBN)

______________

Celebs:

Judge Allows Foreclosure Of Toni Braxton Home
(DBN)

Anna Nicole Smith, Equity, and Article III
(DBN)

Tax collectors take aim at Alec Baldwin, other celebs
(DBN)

______________

Fraud:

Galleon insider trading investigators quiz Morgan Stanley banker
(DBN)

This Is The Morgan Stanley Banker Who Allegedly Leaked Information To Galleon
(DBN)

Rothstein partner can't depose sheriff
(DBN)

The Moron Brother: Rothstein Scorned
(DBN)

$37.7M RICO Suit Against Bank Rothstein Used in $1.2B Ponzi Scheme Gets Green Light
(DBN)

Judge says Bear Stearns/Deloitte investor case can proceed
(DBN)

The Latest Goldman Scandal: Did A Goldman Sachs Guy Pay A Kickback So The Firm Could Underwrite Government Securities?
(DBN)

Hecker accuses lawyer, trustee of lying
(DBN)

Hecker, two co-defendants will be sentenced in February
(DBN)

Denver: Convicted Ponzi schemer could face decades in prison
(DBN)

Florida man in Ponzi scheme sentenced to 90 months
(DBN)

______________

Tax:

IRS Rules on Post- Bankruptcy NOLs
(DBN)

A 2nd I.R.S. Amnesty for Offshore Accounts
(DBN)

______________

Food/Drink:

Javo Beverage Company Files Chapter 11 and Pursues Plan of Reorganization
(DBN)

______________

Hotels:

Rim Hospitality takes over two hotels
(DBN)

California hotel foreclosures up 122% in 2010
(DBN)

The End of the Hotel Deals
(DBN)

Innkeepers Revised Bankruptcy Deal With Lehman Under Attack by Creditors
(DBN)

Grand Bear files for bankruptcy
(DBN)

______________

Credit Cards:

The End of Credit Cards is Coming
(DBN)

Supreme Court rules for Chase on credit card interest
(DBN)

Amex's Profit Rebounds in 2010
(DBN)

______________

Lehman:

Lehman Plan Will Rival One Allowing Change of Managers
(DBN)

______________

Defaults:

S&P: Czech Lottery Firm Sazka Is First Corporate Default Of 2011
(DBN)

______________

UK:

Begbies Traynor Key findings from the Q4 2010 Red Flag Alert Report
(DBN)

Appointment of Administrators - 24 January 2011
(DBN)

Winding Up Petitions - 24 January 2011
(DBN)

Premiership footballer files for bankruptcy following property fraud scam
(DBN)

______________

EU:

European crisis erodes support for governments
(DBN)

Plan Would Place Burden for Euro Rescue on Creditors
(DBN)

Debt Schemes
(DBN)

Europe Still A Risk as Global Recovery Builds: IMF
(DBN)

How Severe Is Europe’s Intertwined Debt Crisis?
(DBN)

______________

Canada:

Bankruptcy of Alberta investment firms filing spawns lawsuit
(DBN)

Supreme Court of Canada Rules that Government Loses Priority for GST Under CCAA
(DBN)

Household debt 'at a near-boiling point'
(DBN)

______________

Spain:

Spain's banks must boost capital or face gov't takeover
(DBN)

Spain's Banks Need $27.2B Infusion
(DBN)

Spanish Finance Minister Asserts Soundness of Banking Sector
(DBN)

Spanish Bank Shares Tumble on Government Clean-Up Plan
(DBN)

______________

Greece:

Odds Are Against a Greek Debt Restructuring
(DBN)

Greece's largest union calls general strike against austerity for Feb. 23
(DBN)

Greek bond buyback
(DBN)

______________

Ireland:

Lobbyists Win Reprieve For Property Tax Reliefs
(DBN)

Ireland's Voters Ready to Ireland's Voters Ready to Confront Rest of Euro Zone
(DBN)

______________

Middle East:

Dubai World Unit Eyes Debt Deal, Signs New Loan
(DBN)

Gulf states urged to reform 'archaic' bankruptcy laws
(DBN)

______________

Australia:

Saraceni's Transfer Of Funds From Westgem Ahead Of Receivership Under Probe
(DBN)

______________

Czech Republic:

Sazka wants hearing of insolvency proceedings
(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