February 2, 2012

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 Watch: Finally, Someone Is Paying Less Than Cravath
(DBN)

Stanford Financial receiver sues law firms, lawyer
(DBN)

New York, Chicago Law Schools Among Group Sued by Graduates Over Job Data --- A Dozen Law Schools Hit with Lawsuits over Jobs Data
(DBN)

Harvard Law Sells Naming Rights to Its New Bathrooms, and a Berkeley Law Professor Couldn’t Be Happier
(DBN)

Lawyers Hit The Facebook Jackpot With IPO
(DBN)

Wells Fargo, Greenberg Traurig Aided and Abetted Ponzi Scam, Investor Says
(DBN)

Mayer Brown posts 2011 revenue rise after two years of falling results
(DBN)

So Who Are the Top Legal Contributors to America's Super PACs?
(DBN)

Staying Relevant - Part 5: The Real Scary Technology
(DBN)

NY State Lawyer Resigns from $104K Civil Service Job, Takes Plea in Hate-Crimes Case
(DBN)

Top Okla. Court Revives Lawyer’s Suit Against Co-Counsel Who Gave Her Zip in $12.3M Case
(DBN)

Lawsuit of the Day: How Many Synthetic Genes Can Be in an ‘All-Natural’ Snack?
(DBN)

Associate’s Baffling Email an Example of Bad Mass Goodbyes
(DBN)

Farewell to BigLaw: Ten People I Forgot to Thank on the Way Out
(DBN)

Police: Group Swarms Store, Steals $38,000
(DBN)

Say What?!
(DBN)

FBI Uses Chainsaw To Tear Door Down In Terrifying Raid -- On Wrong Apartment
(DBN)

Second Zamboni DWI Reported
(DBN)

This Billboard Featuring A Wife's Divorce Message To A Cheating Husband Just Won't Die
(DBN)

______________

Judges:

New bankruptcy judge's ceremony set for Feb. 24
(DBN)

______________

Wall Street:

U.S. stock index futures point to flat start
(DBN)

Stocks close higher on manufacturing data
(DBN)

U.S. Companies Reporting Negative EPS Surprises
(DBN)

Goldman Sachs Lost Facebook IPO’s Lead Following ‘Strained’ Private Sale
(DBN)

Facebook Taps Six Wall Street Banks
(DBN)

Why the Facebook IPO Won’t Be a Windfall for Wall Street
(DBN)

Will Facebook Really Create 1,000 Millionaires? --- Facebook Winners Range From Dentist to U2's Bono
(DBN)

Facebook IPO Filing Nearly Crashes SEC Site
(DBN)

______________

Layoffs:

Unemployment rates drop in 329 of 372 metros
(DBN)

Job Cuts Jumped 28% in January: Challenger Report
(DBN)

ADP: 170,000 New Jobs Added in January --- U.S. Job Creation Best Since September 2008
(DBN)

Some Good News In The January Layoffs Report
(DBN)

2 years of almost no progress in the real unemployment rate
(DBN)

Job growth slows in January
(DBN)

El Centro, CA: 26.8% unemployment rate
(DBN)

New Rounds of Base Closures Coming
(DBN)

The Obsolete Jobs Club
(DBN)

The 30 Fastest Growing Jobs In America
(DBN)

The Surprising Geography of Persistent Unemployment
(DBN)

Here's where the jobs will (and won't)be by 2020
(DBN)

The Shrinking Employment-Population Ratio Is Bad News For The Economy
(DBN)

It Pays To Work For The Government, Unless You've Got A Ph.D --- Republicans Challenge Democrats to Approve Federal Pay Freeze
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

______________

Autos:

Obama Hits Romney Over US Auto Bailout
(DBN)

Chrysler: From Bankruptcy To Profit In 2 Years --- Earns first annual profit in more than a decade
(DBN)

______________

Retailing:

Avenue Clothing Chain Owner United Retail Files Bankruptcy --- Seeks To Sell Itself In Chapter 11
(DBN)

The New Strategy At JCPenney Is A Bad Read Of Its Customers
(DBN)

Best Buy Tells Its Employees Not To Worry About Store Closures Because It's Opening More In China
(DBN)

Retailers Largely Outpacing January Sales Estimates
(DBN)

______________

Religion:

Number of claims against Milwaukee Archdiocese to exceed 500
(DBN)

Monk's Personal Bankruptcy Case Gets Stranger
(DBN)

______________

Banking:

Settlement approved in WaMu bankruptcy
(DBN)

Prepare For A Giant New Wave Of US Bank Failures
(DBN)

Failed ShoreBank divvies up assets: Chase, FDIC the winners
(DBN)

FDIC Sues Former Officers of Failed California Bank
(DBN)

Wells Fargo to Move into Investment Banking
(DBN)

Progress on Letting Big Banks Fail
(DBN)

'Anti-Bank' Bank Offers 6% on Savings
(DBN)

Deutsche Bank Profits Plummet As The Eurozone Debt Crisis Causes Client Activity To Dry Up
(DBN)

______________

Fraud:

Eleventh Circuit Insulates Hedge Fund Investors in Ponzi Scheme From Fraudulent Transfer Attack
(DBN)

The Spectacular Rise And Fall Of Alleged Ponzi Schemer Allen Stanford --- Stanford used CD funds for cricket, jets-witness --- Stanford Secretly Lent $2 Billion to His Firms, Witness Says --- Witness details banks payments to Stanford companies --- Stanford Financial receiver sues law firms, lawyer --- Ties to Societe General to Take Spotlight --- Stanford takes hit in ‘Football’ news
(DBN)

Madoff Trustee's HSBC Lawsuit Restored to Bankruptcy Docket
(DBN)

Madoff Feeder Funds Still Awaiting Distribution Approval
(DBN)

Ex-Credit Suisse Manager Serageldin Charged With Fraud
(DBN)

Credit Suisse Traders Made The Unusual Mistake Of Committing CDO Fraud On Themselves
(DBN)

After a long day of speeches, still no progress on Congressional insider trading act
(DBN)

______________

Lehman:

JP Morgan Agrees To Slash $710 Million Claim Against Lehman
(DBN)

______________

Llamas:

Llamas, Tigers and Bears, Oh My!
(DBN)

______________

Shipping:

General Maritime files for plan of reorganization
(DBN)

Global Shipping Rates Fall to 25-Year Low
(DBN)

______________

Debt Collection:

'Robo' Credit Card Suits A Menace For Issuers
(DBN)

______________

Protests:

Occupy Protestors Are Bored With Inequality, So Now . . .
(DBN)

______________

Economy:

U.S. Manufacturing Increases at a Faster Pace --- Treasurys fall
(DBN)

Fed's Low Rates Killing Credit, Slowing Recovery: Gross --- High Marks for Bernanke: Gross Gives Him 9 Out of 10
(DBN)

First lady Michelle Obama cites 'remarkable progress' on the economy
(DBN)

Federal Bankruptcy? Downey Has Contingency Plan
(DBN)

US Weighs 30% Buffett Rule Tax on Rich
(DBN)

Obama's Phony Tax Reform
(DBN)

Only 4% Of Employers Are Confident Their Employees Saved Enough To Retire
(DBN)

Guess Which Country Is Driving Global Demand These Days
(DBN)

UN panel says retool world economy for sustainability... World 'must redefine the very concept of national wealth'
(DBN)

More parents helping adult children get homes, cars
(DBN)

Economic Stress Map
(DBN)

Economy Tracker Map
(DBN)

US Debt Clock
(DBN)

______________

Real Estate:

Mortgage deal would give U.S. states enforcement power
(DBN)

Deadline for States to Accept Foreclosure Deal With Banks Moved to Feb. 6
(DBN)

Gibbs & Bruns probes Morgan Stanley-issued RMBS
(DBN)

Obama proposes home loan refinancing plan --- Plans Assistance for Rentals, Mortgage Refinancing --- Pressures Congress to take up legislation
(DBN)

Ex-Credit Suisse traders guilty in mortgage case
(DBN)

US Senators Introduce Bill to Cap Fannie Mae, Freddie Mac Pay
(DBN)

Fannie and Freddie, not banks, deserve blame
(DBN)

Freddie Mac Halts Use of Derivatives Tied to High Interest Rates
(DBN)

Changing Freddie Mac will not fix our housing problems
(DBN)

Financing Fannie and Freddie's failures
(DBN)

Citi: Bank Will Exit Mortgage Brokerage Biz
(DBN)

BofA Tumbles to 5.6% Share of Mortgages
(DBN)

Housing construction spending hits 16-year low
(DBN)

LPS: Average U.S. Home Price At $199,000
(DBN)

Interest Rates At All Time Lows And Home Prices At Ten Year Lows – Why Are Home Sales The Worst Ever?
(DBN)

Mortgage Rates | February 1, 2012
(DBN)

New Obama Housing Plan Not Winning Republican Fans
(DBN)

What’s in the Latest White House Proposals on Housing?
(DBN)

Reaction mixed on Obama housing fix
(DBN)

US regulator launches foreclosure sales plan
(DBN)

Toll Brothers Gains After Construction Spending Climbs
(DBN)

_____________

Aviation:

US agency: AMR will seek to end worker pensions --- Wants AMR To Reorganize Without 'Killing' Pensions --- Horton 'a little bit dismayed' by PBGC pressure --- AMR proposes turning pensions for its 130,000 employees and retirees over to the PBGC --- Lawmaker wants PBGC to prevent termination of American Airlines' pension plans
(DBN)

Unions hear American Airlines' plan to cut jobs -- AMR Sees $2 Billion Cost Cuts With Most Savings From Labor --- Oklahomans in Congress Respond to American Airlines Proposed Cuts in Tulsa --- Mayor Mike Rawlings on American Airlines cutbacks
(DBN)

AMR CEO Outlines Plan In Letter To Employees --- Business plan sees growth over the next five years --- The letter --- The Plan
(DBN)

Horton: No executive cash bonuses unless employees are getting profit sharing
(DBN)

American Airlines' Bankruptcy Plan Will Set Off A War With The Union AND The Government
(DBN)

American Airlines seeks 20 pct. cut in labor costs - To slash up to 15,000 jobs --- DFW Airport Security Heightened As AA Layoffs Loom--- APFA's Glading: It's uglier that we feared --- Pilots union: American's plans "hard to stomach" --- Proposes cutting 40 percent of TWU jobs --- 2,100 jobs in Tulsa --- Proposals for each of American's unions --- Unions Will Fight American Airlines' Cuts --- Layoff Plans Creates Anger, Angst with Workforce
(DBN)

AMR Confronts $1 Billion Revenue ‘Question Mark’ After Job Cuts
(DBN)

PBGC to American Airlines: Don't do it unless you can prove that you must
(DBN)

Will American's Layoffs Add to Flier Grief?
(DBN)

American Airlines to close Alliance maintenance base in Fort Worth
(DBN)

Hungary Malév gets state receiver --- Cedes Spending Control
(DBN)

______________

Municipalities:

Federal Judge Sylvia Rambo rejects Harrisburg City Council's latest bankruptcy appeal
(DBN)

RI gov seeking nearly $400K in supplemental funds for Central Falls receiver, legal fees
(DBN)

California Will Borrow Up to $1B to Skirt Crisis
(DBN)

New York City Faces Rising Pension Costs in Fiscal 2013
(DBN)

Moody's Keeps U.S. Muni-Debt Outlook Negative
(DBN)

______________

Pensions:

Corporate Pensions Are Treading Water In The Face Of A Record Funding Gap
(DBN)

______________

Food/Beverage:

Exactly How Many Fast Food Restaurants There Are In Every State
(DBN)

______________

Politics:

Massachusetts Republicans launch attack on Elizabeth Warren
(DBN)

Brown-Warren Ceasefire Already Breaking Down --- Ban On Outside Spending Shows Some Holes
(DBN)

The Warren Effect
(DBN)

Goldman Joins Wall Street to Fund Romney
(DBN)

Donald Doubles Down: On Mitt?
(DBN)

Romney: Not focused on very poor, they have safety net
(DBN)

Romney: Adjust Minimum Wage for Inflation
(DBN)

Gallup state numbers predict huge Obama loss
(DBN)

______________

Alternative Energy:

Fitch: Clouds loom over solar power project finance
(DBN)

Obama targeted on Solyndra in new Crossroads GPS ad
(DBN)

The Solyndra election
(DBN)

How the epically-hyped and well-funded clean tech boom went bust
(DBN)

Indiana's electric-vehicle bust
(DBN)

Q-Cells Soars on Deal to Save Solar-Cell Maker
(DBN)

______________

Credit/Debit Cards:

Court finds AmEx arbitration clause unenforceable
(DBN)

______________

Museums:

Slavery museum asks for extension
(DBN)

______________

Oil/Gas:

Petroplus refineries draw another suitor
(DBN)

Over 40 interested in Petroplus UK refinery -PwC

Goldsmith group interested in Petroplus' refineries
(DBN)

______________

Asset Protection:

A Florida Tycoon Just Adopted His Girlfriend As His Daughter In An Attempt To Protect His Fortune
(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:

Recent Developments in Bankruptcy Law
(DBN)

______________

Bankruptcy Statistics:

South-Central Texas bankruptcies fall 25%
(DBN)

Hawaii bankruptcies fall in January for 11th straight month
(DBN)

Toledo-area bankruptcy filings hit 5-year low
(DBN)

Interactive Bankruptcy Statistics Map
(DBN)

______________

Sales:

Can Secured Creditors Credit Bid?
(DBN)

______________

Avoidance Actions:

Have Your Cake and Eat It Too: Defendants in Insider Preference Actions under State Law May Doubly Benefit from the New Value Defense
(DBN)

______________

Mass Torts:

WR Grace proposes $19.5M asbestos settlement
(DBN)

______________

MF Global:

Corzine's Hoboken Condo: Another Bad Investment
(DBN)

MF Global Investigators Said to Trace 90 Percent of Client Money
(DBN)

MF risk officer warned on Europe trades
(DBN)

Corzine Deemed MF Global Risk Concerns Implausible, Roseman Says
(DBN)

MF Global Cut European Exposure in August, Risk Officer Says
(DBN)

MF Global Chief Risk Officer To Recount The Time Corzine Brusquely Told Him His Risk Models Didn't Work In “The Real World”
(DBN)

Judge Rejects MF Global Priority Bid
(DBN)

MF Global Holdings Judge Rejects Customer Bid for Conversion to Chapter 7
(DBN)

MF Global Parent Receives 71 Claims Totaling $188.7 Million
(DBN)

MF Global triggers regulatory rethink at CFTC
(DBN)

The risks that killed MF Global
(DBN)

______________

Insurance:

Ambac Financial Reschedules Voting Deadline And Plan Confirmation Hearing
(DBN)

AIG May Pay at Least $45 Million in Dispute, Transatlantic Says
(DBN)

______________

Photography:

Kodak Wants Out of Hollywood Theater --- New Name for Oscar Theater and Millions in Debts to Studios
(DBN)

Kodak Investor Forms Shareholder Committee
(DBN)

______________

Baseball:

Would-Be Dodgers Owners
(DBN)

The Dodgers' All-Star Lineup of Suitors
(DBN)

Los Angeles Dodgers Sale Frenzy Makes Valuation More Circus Than Science
(DBN)

Steven Cohen, Dodgers bidder, may buy a piece of the Mets
(DBN)

______________

Paper:

NewPage Seeks to Shield Officials from Investor Grilling
(DBN)

______________

Corporate Reform:

House Republicans Get Advice on Obama’s Recess Appointments
(DBN)

Cordray Fields Questions From House Panel
(DBN)

Cordray Receives Chilly Welcome From Senate GOP
(DBN)

See, Dodd-Frank makes total sense!
(DBN)

Goldman Fighting to Exempt Half of Swaps
(DBN)

Insiders: No DOJ case vs. Goldman
(DBN)

______________

Education:

This Form Could Change Everything About How Students Shop For Colleges
(DBN)

______________

Sovereigns:

Sovereign Debt Restructurings: Global Effects and Lessons Learned from the U.S.
(DBN)

______________

UK:

Miquita Oliver faces bankruptcy
(DBN)

Premier League clubs could face bankruptcy in the future if they do not modify their spending
(DBN)

New law, insolvency regulation and the rescue culture
(DBN)

______________

EU:

Europe Needs Tax Cuts for Poor to Boost Labor Market, Borg Says
(DBN)

China May Get Involved in EU Rescue Funds
(DBN)

Best Quotes From France's Pugnacious President
(DBN)

Europe's Youth Unemployment Crisis Is Leading To An Exodus
(DBN)

______________

PIIGS:

ECB May Hold Out on Greek Debt Swap Until Investors Reach Deal
(DBN)

Greek officials are now blasting the EU and the IMF
(DBN)

Greece says key issues remain in talks with lenders
(DBN)

New bond rate set for 3.6-3.7 pct
(DBN)

Greece: 60,000 shops to shut down
(DBN)

Greek PM Seeks to Force Pledges of More Austerity
(DBN)

IMF's Thomsen indicates flexibility on Greek wage cuts
(DBN)

98% of Greeks Say it is a ‘Bad Time to Seek a Job’
(DBN)

Labor talks resume in Greece as debt deals near
(DBN)

Spain Can't Meet Budget Goal, Catalan Leader Tells PM Rajoy
(DBN)

Spain Said to Plan to Buy CoCo Bonds From Banks as Part of Industry Revamp
(DBN)

Spain Sells More Bonds Than Targeted as Borrowing Costs Drop
(DBN)

______________

Canada:

Secured creditors may assert priority over proceeds of a fraudulent preference action
(DBN)

______________

Hong Kong:

Hong Kong property deals dip to Lehman-crisis levels
(DBN)

______________

Australia:

Ipso facto clauses and insolvency
(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