January 10, 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:

Cadwalader Promotes Davis to Financial Restructuring Leadership
(DBN)

Convicted lawyer for defunct Refco to get new trial
(DBN)

Gupta, Wells Fargo, News Corp., Bayer, SK, J&J in Court News
(DBN)

Visa-US Bancorp, Countrywide, J&J, Morgan Stanley in Court News
(DBN)

Olympus, News Corp., Apple, Lehman, Chevron in Court News
(DBN)

Reed Smith suffers exodus of 50 staff in Hong Kong
(DBN)

Perkins Coie Adds Bankruptcy Partner In New York Office
(DBN)

How to Get Fired From Your Job as General Counsel to an NFL Team
(DBN)

Morgan Stanley names new chief legal officer
(DBN)

Marketing 2.0 - Part 3
(DBN)

Should My Big Firm Blog?
(DBN)

N.J. lawmakers propose statute restricting solicitation
(DBN)

The Law & Grad School Blame Game
(DBN)

Outgoing Law Dean Offers Suggestions: Admit 1Ls Without B.A. Degrees, Share Profs
(DBN)

Outsiders Criticize Law Schools, But Will Change Ever Come?
(DBN)

Judge weighs LMU law school's request in accreditation dispute
(DBN)

Law School Transparency: Legal academia and the code of silence
(DBN)

Alcohol Guide for Law Students
(DBN)

Law firm's fee dispute with ex-client goes up in smoke
(DBN)

Drug Defendant’s ‘Crack Jacket’ Is a Common Courtroom Fashion Statement, Lawyer Says
(DBN)

Prosecutor Shoots Himself After Abruptly Ending a News Conference
(DBN)

Judge Grants Request to Bar Prosecutor ‘Jaw-Jacking’ Outside Chambers
(DBN)

ACLU Says Hundreds Have Been Arrested and Jailed in Denver on Warrants for Other Suspects
(DBN)

How to Get Out of Jury Duty
(DBN)

Teen Fights for First Amendment Freedoms Over Yearbook Photo
(DBN)

______________

Judges:

Female bankruptcy judge is district's first
(DBN)

'Little guy' fight over property rights reaches high court --- Justices criticize EPA for its dealing with homeowners --- Appear Likely to Blunt EPA Tool
(DBN)

Breyer on Recusal Kerfuffle: Move Along, Nothing to See Here
(DBN)

Judge Writes Sudsy Opinion
(DBN)

Federal Judge Says Small-Firm Lawyers are Worth Less than Big-Firm Lawyers
(DBN)

______________

Wall Street:

Stock futures signal stronger Wall Street open
(DBN)

Stocks Eke Out a Gain Ahead of Earnings
(DBN)

Goldman's Infamous 'Sh*tty Deal' Turns Out Not To Have Been As Sh*tty As Others
(DBN)

Why Goldman Has To Cut Pay
(DBN)

For Goldman and Morgan, a year to forget
(DBN)

Wall Street Turned a Crisis Into a Cartel
(DBN)

A Paradox of Smaller Wall Street Paychecks
(DBN)

About 400 Goldman partners could see their pay cut in half this year
(DBN)

Loopie Doop's
(DBN)

______________

Layoffs:

Lower Pay Not Just on Wall Street
(DBN)

Government jobs have declined farther under Obama than under any other president
(DBN - NY Times - Paywall Limit Possible)

Why does the government consistently underestimate job creation?
(DBN)

More US Part-Timers Find Full-Time Jobs
(DBN)

Layoffs Watch ’12: Bank of America --- Morgan Stanley
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

______________

Disasters:

Disaster-Cleanup Company Jesco Files For Bankruptcy Protection
(DBN)

______________

Hedge Funds:

Some Brutal Facts For Hedge Fund Investors --- 60% of Hedge Funds Lost Money in 2011
(DBN)

Hedge Fund Legend Michael Steinhardt Sanctioned For Improper Trading
(DBN)

______________

Retailing:

Regional Mall Vacancy Rate declines slightly
(DBN)

Rite Aid's Troubles Make It A Bankruptcy Candidate
(DBN)

Syms Cleared to End Fifth Avenue Lease
(DBN)

How Amazon ate Sears' lunch
(DBN)

______________

Politics:

Elizabeth Warren: Gets Things Done
(DBN)

Mitt Romney: 'I Like Being Able To Fire People'
(DBN)

Romney at Bain Capital: Big Gains, Some Busts --- Bankrupted Nearly One-Quarter of the Companies It Invested In --- What Mitt Romney did at Bain
(DBN)

During Romney's tenure, 22% of Bain investments went bankrupt or shut down within 8 years
(DBN)

Thanks To Mitt Romney, Suddenly Republicans Are All Ganging Up On Wall Street
(DBN)

Romney Poised for Win Over Faltering Foes
(DBN)

Gingrich's Firm Refuses to Release Contract
(DBN)

Republicans Bash Europe in Search of Votes
(DBN)

Republican Voters Still Unenthused About Their Presidential Field
(DBN)

______________

Consumer Finance:

Credit Unions Won't Replace The Predatory Lenders At The Lower End Of The Market
(DBN)

______________

Autos:

General Motors likely to recapture global auto sales lead after losing it to Toyota in 2008
(DBN)

Romney confronted over views on auto bailout
(DBN)

Don't Buy Hype on Auto Industry Turnaround
(DBN)

Saab unions unhappy with bankruptcy receivers --- Saab receivers ask for additional help
(DBN)

______________

Municipalities:

Harrisburg bankruptcy filing has already cost taxpayers $380K --- Cost of Harrisburg City Council's bankruptcy filing on the way down?
(DBN)

JeffCo makes first decision for newly reclaimed sewer system
(DBN)

Judge approves agreement between CF Receiver and retirees
(DBN)

Gina Raimondo Math Convinces Rhode Island of America’s Prospects With Debt
(DBN)

______________

Aviation:

American Eagle hires Bain & Co. to work on labor costs
(DBN)

AMR to End New Delhi Flights as First Cities Cut in Bankruptcy
(DBN)

One passenger's ideas to fix American Airlines
(DBN)

American Airlines seeks approval to hire advisers
(DBN)

Pinnacle Proposes Five Percent Pay Cut,Bankruptcy Possible
(DBN)

Kingfisher Airlines asks govt for financial help
(DBN)

______________

Bankruptcy Crimes:

Austin Man Pleads Guilty to BK Fraud and Identity Theft
(DBN)

______________

Economy:

US debt is now equal to economy
(DBN)

Fed's Lockhart does not rule out more easing
(DBN)

Survey: CFOs Enter 2012 With 'Cautious Optimism'
(DBN)

US Factories Could Suffer From Dollar's Appeal
(DBN)

Small Business Optimism Rose in December: Survey
(DBN)

Consumer Credit Explodes Higher By $20.3 Billion In November --- Rises by Most in Decade --- Credit in charge
(DBN)
(DBN)

Recession Still Cooking: Hussman
(DBN)

ECB to press governments on crisis as liquidity seeps in
(DBN)

Credit-Default Swaps in U.S. Decrease on Signs Economy Gathering Momentum
(DBN)

The Wall Street Journal Missed the Forest for the Trees on the Millionaires Tax of 2012
(DBN)

Economic Stress Map
(DBN)

Economy Tracker Map
(DBN)

US Debt Clock
(DBN)

______________

Real Estate:

Fannie, Freddie Ratings May Face Cut as Lawmakers Siphon Funds, BofA Says --- The Fannie-Freddie Feeding Frenzy
(DBN)

Government Set to Sell Foreclosures in Bulk
(DBN)

DOJ contacting additional banks on mortgage deal
(DBN)

U.S. Home Prices Down 2.1% For 2011
(DBN)

More housing markets on the mend in 2012
(DBN)

Fannie Mae survey shows more confident consumers
(DBN)

New rules allow more holders of underwater mortgages to refinance
(DBN)

Builders: Go Local for Upbeat Housing Data
(DBN)

Will foreclosure activity increase in 2012?
(DBN)

Everything You Need To Know About The Housing Market And Why It Has Bottomed
(DBN)

CoreLogic: House Price Index declined 1.4% in November
(DBN)

ResCap Bondholders Caution Ally as Mortgage-Unit Options Weighed
(DBN)

Banks Blame Countrywide for U.K. Mortgage Losses in 97 Lawsuits --- Sued by Banks ‘Looking for Someone to Blame’
(DBN)

_____________

Fraud:

U.S. appeals court orders new trial for Refco lawyer
(DBN)

Eide Bailly sues to prevent $25M Petters clawback
(DBN)

Olympus Sues Ex-Execs; Did Yakuza Have a Hand in Billion-Dollar Fraud?
(DBN)

Cat-and-Mouse Game in the Gupta Prosecution
(DBN)

Mastro bankruptcy trustee sets payments to creditors in motion
(DBN)

______________

MF Global:

The Neverending MF Global Story: Regulators Block The Truth
(DBN)

CME Group tarnished by MF Global scandal
(DBN)

MF Global Plot Thickens
(DBN)

Inquiry of MF Global Intensifies as New Details Emerge
(DBN)

MF Global Customer Sapere Seeks First Priority for Commodities Customers
(DBN)

House hearing to probe raters' role in MF Global
(DBN)

LME's steel plans tarnished by MF Global
(DBN)

Farmers Sue Jon Corzine Over Missing Millions
(DBN)

Jon Corzine's Risky Business
(DBN)

Jon Corzine Is Shopping for NYC Office Space --- Jon Corzine Isn't Finished Here
(DBN)

UCIS fund ceases trading over MF Global exposure
(DBN)

MF Global UK creditors to agree administrator fees --- Creditors Back KPMG Plans for MF Global's U.K. Administration --- MF Global clients vent anger at KPMG --- KPMG defends its role as MF Global administrator
(DBN)

Scrutiny in Wake of MF Global Could Breakup CME
(DBN)

After MF Global crisis, farmers may hedge on hedging
(DBN)

______________

Corporate Reform:

Former TARP Czar Barofsky Blasts Obama's Recess Appointment Of Richard Cordray
(DBN)

Obama's Consumer Financial-Protection Trump Card
(DBN)

Cordray's Off And Gunning --- Appointment Activates Full Powers of New Consumer Bureau
(DBN)

SEC Issues Implementation Schedule for Dodd-Frank Act
(DBN)

SEC 'No-Admit' Policy Change to Have Minor Impact
(DBN)

Ballard Spahr Hosts Free Webinar On CFPB Issues
(DBN)

SEC Push May Produce New Disclosures About Cyber Attacks on Companies
(DBN)

______________

Tax:

IRS revives program seeking back taxes from offshore schemes --- Reopens Amnesty For Cheats And Non-Cheats Alike
(DBN)

______________

Retailing:

Holiday Fizzle Slams Retailer Debt as Swaps Soar
(DBN)

______________

Entertainment:

Center Stage files for Chapter 11 bankruptcy
(DBN)

______________

Compensation:

Bankers Prepare for Lower Pay
(DBN)

$378 Million: Apple CEO Tim Cook could top pay list in '11
(DBN)

Wall Street Considers Pay Freeze on Some Bankers
(DBN)

______________

Banking:

ShoreBank Corp. Files for Bankruptcy in Chicago After Writing Down Assets
(DBN)

SEC to banks: Say more on European debt exposure
(DBN)

______________

Hollywood:

Creditors, Guilds Move to Liquidate Five Former David Bergstein Companies
(DBN)

Bermuda-based Inverness Distribution files for bankruptcy
(DBN)

______________

Baseball:

Dancing on the heads of the profane
(DBN)

Dodgers Bidders: Roy Disney's Family Mulls Team Ownership
(DBN)

______________

Book Reviews:

BROKE: A New Book on Consumer Debt and Bankruptcy
(DBN)

______________

Oil/Gas:

Petroplus runs out of cash, crude and time
(DBN)

______________

Debt Collection:

Economy Forcing CUs to Change Collection Methods
(DBN)

______________

Television:

Kentucky broadcaster Wazoo Sports files for bankruptcy
(DBN)

______________

Health Care:

Doctors: Why we can't stay afloat
(DBN)

______________

Corporate Governance:

Corporate boardrooms are in need of education
(DBN)

Directors’ Alert: 12 issues for 2012
(DBN)

______________

New Bankruptcy Opinions
(1 new opinion 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:

Vitro, Jefferson County, Borders, AMR, Colonial
(DBN)

Rochelle on Madoff, Kodak, Nebraska Book, Roomstore
(DBN)

Bankruptcy Law in 2011: The Year in Review
(DBN)

______________

Bankruptcy Statistics:

Fewer big companies file for bankruptcy
(DBN)

Large bankruptcy filings may double in 2012 - Fitch
(DBN)

Interactive Bankruptcy Statistics Map
(DBN)

______________

Plan Confirmation:

Taking the Long View: How Reorganization is More Like a Marathon and Less Like a Sprint
(DBN)

______________

Litigation:

Contingency Fees in M&A Litigation
(DBN)

Twombly/Iqbal Applies to Affirmative Defenses!
(DBN)

What Technology-Assisted Electronic Discovery Teaches Us About The Role Of Humans In Technology
(DBN)

3rd Circuit: Dismissal Too Harsh a Sanction for Producing Copies
(DBN)

______________

Trustees:

Bankruptcy Trustee Embezzlement Case Takes Unusual Turn
(DBN)

______________

Television:

International Media Group Files for Bankruptcy in Delaware
(DBN)

______________

Shipping:

Trailer Bridge bankruptcy hits speed bump
(DBN)

______________

Food/Beverage:

Friendly's emerges from Chapter 11 --- Closes another 37 restaurants
(DBN)

Two Mexican Restaurants Struggle With Debt
(DBN)

Hostess Brands prepping bankruptcy
(DBN)

______________

Utilities:

Southern Montana Co-op Members Rage Against Bankruptcy Attorney
(DBN)

______________

Museums:

Mob Experience sales plan approved
(DBN)

______________

Accounting:

PwC Is the Real Victim in This Whole Satyam Situation, Says PwC
(DBN)

______________

Mass Torts:

Ill. court overturns $5.5M asbestos conspiracy verdict
(DBN)

Madison County board member says asbestos docket 'killing us'
(DBN)

______________

Lehman:

Ernst & Young says N.Y. can't go after Lehman fees
(DBN)

Lehman Australia Files Chapter 15 Bankruptcy Petition In US
(DBN)

______________

UK:

JD Sports confirms advanced talks with Blacks Leisure
(DBN)

______________

EU:

Soros Says Europe's Debt Woes 'More Serious' Than 2008 Crisis
(DBN)

Euro recovers vs dollar after hitting 16-month low --- Euro Advances as Leaders Meet --- Merkozy rides again
(DBN)

Merkel, Sarkozy stress growth a priority in crisis
(DBN)

Merkel Says Budget Rules May Be Fast-Tracked to Stem Crisis
(DBN)

Merkel Says Central Bank Crisis Role 'Illusory' Without Union
(DBN)

German Note Yields Fall to Record After Talks; Greek Bonds Drop
(DBN)

Sarkozy Wins Merkel Backing for Transaction Tax --- Merkel urges agreement on euro zone transactions tax --- Push for Tobin tax despite German split --- Opposition mounts to financial transaction tax
(DBN)

EU Threatens to Cut Greek Bailout
(DBN)

Looking for profits in Europe's woes
(DBN)

Virtually every piece of European data points towards a deep recession --- Citigroup Sees Six-Quarter Recession
(DBN)

Vicious Circle of Low Growth and Austerity for Europe
(DBN)

Draghi May Copy Bernanke on Path to Record-Low Interest Rate
(DBN)

ECB to press governments on crisis as liquidity seeps in
(DBN)

Europe Has A Much Bigger Problem Than Debt, And Nobody Has Any Clue How To Fix It
(DBN)

Fitch warns of European rating downgrades in Jan
(DBN)

Euro rebounds from 16-month low, but gains could fade
(DBN)

European central bank reports record €464bn in overnight deposits
(DBN)

UniCredit Plunge Seen Deterring EU Banks From Stock Sales
(DBN)

Hungary Faces Choice Between IMF and Default
(DBN)

______________

PIIGS:

Merkel warns on 2nd Greek package --- Merkel, Sarkozy press for quick Greek solution --- Greece needs ?massive? EU funding
(DBN)

Massive help or euro exit for Greece, says Czech banker
(DBN)

Note to Greece: Reach a Debt Swap Deal, or Else
(DBN)

No sign of Greek crisis bottoming out yet
(DBN)

Even more doubts are surfacing about Greek debt restructuring
(DBN)

Greece says bond swap negotiations at ‘satisfactory point,’ no deal yet
(DBN)

Greek Former Minister Suggests Acropolis Be Leased
(DBN)

German Finmin pushes Athens on reforms
(DBN)

A Haircut of 55-60% More Likely for Greece --- Haircut concerns pile pressure on bank stocks
(DBN)

Sean Quinn loses bankruptcy case
(DBN)

Fitch: "Significant Chance Of Italy Downgrade"
(DBN)

______________

Germany:

Oil Prices Fall on Fears of Slowing German Economy
(DBN)

Spoof ad puts German president's palace up for rent
(DBN)

Germany Auctions Bills With Negative Yield Amid Debt Crisis
(DBN)

______________

Switzerland:

Swiss Central Bank Chief Resigns Over Wife's Currency Trades --- Wife of toppled Swiss bank chief was "risk-taker"
(DBN)

______________

Japan:

Tepco , banks talk new loans for rescue package
(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