July 11, 2012

The Daily Bankruptcy News

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Law:

Dewey & LeBoeuf can’t hire Proskauer, for now, judge says --- Judge Vets Advisers in Dewey Bankruptcy Proceeding
(DBN)

Gibson Dunn, Skadden Arps, Fried Frank: Business of Law
(DBN)

Despite Stagnant Economy, Movement Toward Alternative Fees Still at a Crawl --- Survey Sees Slow Adoption of Alternative Fee Arrangements --- Report: Alternative Fees Continue Snail-Paced Assault on Billable Hour
(DBN)

Attorney Gets 42 Months in Club Fed for Defrauding Law Firm Credit Line Lender
(DBN)

Is The Legal Market Flat?
(DBN)

Is Low Confidence a Key to Success?
(DBN)

Trying for More Trials
(DBN)

Jacoby & Meyers ties up with bankruptcy firm in first step in ambitious merger plans
(DBN)

Legal Sector Business Model: The non-Google (especially after Dewey & LeBoeuf)
(DBN)

Over-50 Lawyers: Best work behind them or stuck (temporarily)
(DBN)

Norton Rose lands headline role for embattled ex-Barclays CEO Diamond
(DBN)

Judicial Proceedings Privilege Protects Law Firm that Helped Carry Out Unusual Discovery Order
(DBN)

Quote of the Day: A Monetary Solution for Baby Mama Drama
(DBN)

Like Most of His Joint MBA-JD Peers, Romney Pursued Business Rather Than Legal Career
(DBN)

Paralegal Peeks at Part-Time Lawyer’s Check, Takes Pay Peeve to Advice Columnist
(DBN)

Battle of the iPad Browsers
(DBN)

Emory Bankruptcy Developments Journal Congratulates the Newly-Selected 2012-13 Candidates for the Board
(DBN)

Brooklyn prosecutor won't lose job over Facebook flap
(DBN)

Singapore To ‘Relax’ Death Penalty Standards, But Death Might Be Preferable To Singapore’s Version of Humane Treatment
(DBN)

Mortgage Lender Didn’t Show Enough Damages to Sue Law Firm for Defamation Over Marketing Mailer
(DBN)

"A Balloon Entertainer And Lawyer" Consents To Disbarment
(DBN)

Police: Man barricades himself in hotel, demands pizza and Paris Hilton
(DBN)

Federal Judge Levies $1K Max Fine on Man Who Left Voicemail, Skipped Jury Duty Mid-Trial for Meeting
(DBN)

Unfortunate Headline of the Day: Who Gives a Krapp?
(DBN)

P--- Stars Offer Free --- to Miami Heat Fans, Cause NBA Lawyers To Stand At Attention
(DBN)

Judge Axes ‘Incredibly Tasteless’ Sandusky Suit by ‘Lawsuit Zeus’ Using Comedy Club Return Address
(DBN)

Say What?!
(DBN)

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Judges:

Defendant’s 7th DWI Arrest ‘A Real Doozy,’ Injured Judge Is Still Off Work Recuperating
(DBN)

Benchslap of the Day: Lance Armstrong’s Lawsuit Needs Some Training Wheels
(DBN)

When Trying To Determine The Most Senior Judge, Even Counting Can Be A Racial Issue
(DBN)

Putting law over politics on Supreme Court
(DBN)

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Wall Street:

 

U.S. stocks climb on European steps
(DBN)

Wall Street extends losses; Nasdaq off 1 percent
(DBN)

Traders Hope for Signals From Fed as Earnings Woes Mount
(DBN)

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Layoffs:

Companies Are Laying People Off At The Highest Rate In Two Years
(DBN)

US job openings ticked up in May
(DBN)

Bank of America Slashes Jobs in Commercial Banking
(DBN)

Penney lays off 350 workers at Texas headquarters
(DBN)

Americans Clinging Tightly to Jobs in Sluggish Labor Market
(DBN)

America’s Broken Jobs Engine
(DBN)

Divining the Future of Small Business Hiring
(DBN)

Layoffs Watch ’12: Morgan Stanley
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

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Celebs:

IRS To Auction Young Buck's Goods
(DBN)

David Cassidy loses home
(DBN)

Evander Holyfield Thrown Out Of Foreclosed Georgia Estate
(DBN)

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Video Games:

Creditors seek answers in bankruptcy hearing for Curt Schilling’s video game company
(DBN)

Exec describes efforts to save Schilling's company --- Executives Say Tax Credits Could Have Saved Company --- 38 Studios tells court it missed sales goal
(DBN)

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Banking:

The LIBOR Scandal Reveals The Rotten Heart Of Finance --- N.Y. Fed asked Barclays about Libor in '08 --- How Barclays Made Money On LIBOR Manipulation --- How the LIBOR Scandal Affects Private Equity --- How to Manipulate Libor Rates --- When You’ve Got A Global Financial Crisis To Worry About, A Few Trillion Dollars Of Fraud Don’t Seem Like That Big A Deal --- Why Rigging the Libor Interest Rate Is a Big, Rotten Deal --- Senate Committee to Question Geithner, Bernanke on Libor --- Congress shrugs at Libor-gate --- Fixing Libor rates has been carried out for DECADES, claims bank whistleblower --- Libor : A Tale Of 2 Scandals --- Infographic: The LIBOR Scandal Explained
(DBN)

Bank living-will plans center on fire sale hopes
(DBN)

Big Bank Earnings Will Have Us Cringing: Bove
(DBN)

Investigators try to determine if missing bank director is dead or escaped
(DBN)

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Environmental:

Environmental appeal involving RG Steel to proceed
(DBN)

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Aviation:

AMR execs will get a big payoff if the company gets out of bankruptcy without a merger
(DBN)

American Airlines Chief Says the 'M' Word — Merger --- American Airlines, creditors ready to begin looking at mergers, other ‘strategic alternatives’ --- Bankrupt American Airlines now ponders merger --- US Airways: We’re happy that AMR is ready to explore mergers --- APA applauds Horton’s letter on consolidation --- APFA is happy, too, that American Airlines will begin looking at mergers
(DBN)

American, TWU reach tentative deals for two groups
(DBN)

Analysts skeptical over Hawker Beechcraft deal --- Other Buyers Interested In Hawker Beechcraft
(DBN)

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Awards:

Houlihan Lokey Named Best Global Corporate Restructuring House 2012 Euromoney Awards
(DBN)

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Food/Beverage:

Hostess labor talks with Teamsters to continue this week
(DBN)

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Economy:

Economic Confidence Unchanged Last Week
(DBN)

US small business optimism falls sharply in June
(DBN)

Treasury needs an exit plan for GM, Ally: watchdog
(DBN)

Economic Mobility: Who is Left Behind?
(DBN)

Fitch Backs 'AAA' Rating on US, Negative Outlook
(DBN)

"It has become transparently clear that the central bank has failed to take the actions its own principles demand"
(DBN)

Global Economic Forecast Reveals Growing Pessimism
(DBN)

Obama's tax plans will cost US nearly $250bn in lost revenue, Romne, $311bn
(DBN)

US Economy: 11 Ugly Facts
(DBN)

"It has become transparently clear that the central bank has failed to take the actions its own principles demand"
(DBN)

US Debt Clock
(DBN)

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Real Estate:

Fitch Ratings: Eminent-Domain Seizures Would Damage RMBS Market
(DBN)

Why you can’t use eminent domain to buy performing mortgages
(DBN)

Another Look at “Absolute” Assignments of Rent Under New York Law
(DBN)

ResCap Continues Settlements Over Mortgage Issues
(DBN)

William McDavid Comes Out of Retirement to be Freddie Mac GC
(DBN)

Precarious housing price increases --- When Foreclosure Supplies Fall, the Bottom Falls Out of Housing
(DBN)

Cleveland Fed: Large percentage of mortgages tied to shaky Libor
(DBN)

Senior Citizens are Losing Homes While Investors Reap Big Profits
(DBN)

Phoenix Housing: Sharp decline in Foreclosure Sales
(DBN)

Some lose homes over as little as $400
(DBN)

Ex-Advanta CEO's Estate on the Block for $30M
(DBN)

Ocala Funding files bankruptcy , seeks to examine FHFA --- First Day Dec
(DBN)

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Fraud:

CFTC Sues Peregrine Financial Group
(DBN)

Firm With Money At Collapsed Brokerage PFG Launches Blistering Attack On Failure Of Regulators
(DBN)

Merkin’s Madoff Funds to Pay Investors $500 Million
(DBN)

The 27 Companies Most Likely To Have An Accounting Scandal
(DBN)

The Ponzi Perpetrator’s Art Dealer? The Endless Scope of Clawback Claims
(DBN)

Judge rejects former Citigroup exec's bid to toss SEC fraud case
(DBN)

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Tax:

TaxMasters Founder Clashes With Bankruptcy Liquidators
(DBN)

______________

Coal:

Coal Stocks in Disarray as Bankruptcy Woes Kick in
(DBN)

James River Coal Plunges: What You Need To Know
(DBN)

Patriot Bankruptcy May Leave Peabody Liable
(DBN)

Patriot Coal gets court OK for DIP financing --- Impact of Patriot Coal's bankruptcy on JV with Rhino uncertain --- S&P cuts Patriot Coal ratings --- NYSE suspends Patriot Coal begins delisting
(DBN)

Patriot Coal Bankruptcy: Hidden Value for the 8.25% Guaranteed Notes?
(DBN)

______________

Photography:

Ritz Camera Files for Second Chapter 11 Bankruptcy in Three Years
(DBN)

Kodak Announces Restructuring Of Management --- Realigns top managers
(DBN)

______________

Pensions:

Judge OKs sale of Fund's San Vicente property
(DBN)

______________

Weather:

Horrible Heat And Precipitation Conditions Ravaging America's Crops
(DBN)

US Drought Goes from Bad to Worse
(DBN)

______________

Municipalities:

Going broke can be true emergency for U.S. cities
(DBN)

Jefferson County bankruptcy: Lawyer says creditors can form a committee
(DBN)

Jefferson County creditors want exit plan, higher rates and receiver back in charge
(DBN)

Bankrupt Alabama county too slow on workout plan --- Jefferson County Creditor Demands Debt Plan by Sept. 28
(DBN)

California Ski Town Aiming to Rival Vail Faces Upheaval
(DBN)

San Bernardino seeks bankruptcy protection --- Third California City to Choose Bankruptcy --- Is bankruptcy inevitable for San Bernardino? --- SB bankruptcy bombshell ends with a bigger bang
(DBN)

Muni Defaults Down at Midyear, State Budgets On Time
(DBN)

10 Most Depressing States in the U.S.
(DBN)

US cities face budget squeeze perfect storm
(DBN)

And the Winner Is...Texas
(DBN)

Are the Mice Starting to Roar? Municipalities Turn Defiant with Wall Street
(DBN)

______________

Autos:

Obama Ex-Aides Defend Bailout Cash for Delphi Pensions
(DBN)

______________

Oil/Gas:

SemGroup Trustee Sues Barclays Over $143 Million Transaction
(DBN)

______________

Horticulture:

Palm Tree Farmer Cocopah Nurseries Files for Chapter 11
(DBN)

______________

Distressed Investing:

Global Distressed Debt & Bankruptcy Restructuring Review
(DBN)

______________

Brokers:

Iowa broker PFGBest collapses after hiding millions --- Files for bankruptcy
(DBN)

Peregrine woes exacerbate industry gloom --- Peregrine Fund's $200 Million Shortfall Raises Scrutiny on CFTC
(DBN)

Iowa futures broker forged bank records for years - source
(DBN)

______________

Student Debt:

Indentured students jump as U.S. loans corrode education ticket
(DBN)

______________

Personal Finance:

Cash-Strapped Women Are Painting Their Shoe Soles Red To Look Like Louboutins
(DBN)

______________

New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Chapter 7, 12 & 13 Private Trustee Locator
(DBN)

Recent Ch. 11 Filings (33 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (8 new filings today)
(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)

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Miscellaneous:

Rochelle on Jefferson County, Indian Casino, Tax Returns: Audio
(DBN)

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Bankruptcy Statistics:

Interactive Bankruptcy Statistics Map
(DBN)

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Trustees:

TaxMasters Founder Clashes With Bankruptcy Liquidators
(DBN)

______________

Interest:

An Oversecured Lender’s Right to Default Interest and Late Payment Penalties
(DBN)

______________

Litigation:

Accounting board drops call for beefed-up litigation risk disclosure
(DBN)

______________

Defaults:

Default Rate Edges Up to 2.7% in Q2 - Moody's
(DBN)

______________

Alternative Energy:

Centrotherm Seeks Bankruptcy Protection as Solar Firms Founder
(DBN)

House bill looks to stop future "Solyndras"
(DBN)

______________

Autos:

Chrysler on Track for $3 Billion in Profits
(DBN)

______________

Financial Literacy:

Teach Your Teenagers Well
(DBN)

______________

Corporate Reform:

Whistleblower Law Firm Finds Some Prospects
(DBN)

Time for 'Banksters' to Be Prosecuted
(DBN)

Federal judge: Dodd-Frank beefs up protection for whistleblowers
(DBN)

______________

Telecoms:

RIM Chief Vows Turnaround for Struggling BlackBerry Maker
(DBN)

______________

Retailing:

J.C. Penney drops as Credit Suisse cuts estimates
(DBN)

______________

Steel:

RG Steel bonus plan draws objection
(DBN)

Judge: Environmental appeal involving RG Steel can proceed
(DBN)

______________

Lehman:

Loss Dealt to Funds on Lehman --- Lehman judge rules for trustee in "soft dollar" battle
(DBN)

______________

Forest Products:

Sino-Forest creditors to take control; sale shelved
(DBN)

______________

Health Care:

6 Governors Will Opt Out of Medicaid
(DBN)

How the Affordable Care Act Checks Aggressive Debt Collectors
(DBN)

______________

Politics:

Mitt Romney: 'I Don't Even Know' Where My Money Is
(DBN)

More tenuous claims about Romney's Bain Capital record
(DBN)

______________

Shipping:

50% of China's Shipyards Facing Bankruptcy - Good For Recovery
(DBN)

______________

Bankruptcy Crimes:

Ex-Rockford man sentenced for bankruptcy fraud
(DBN)

______________

UK:

Barclays' Diamond accused of misleading inquiry --- Diamond Seeks to Defend Libor Testimony --- Downing Street rejects George Osborne apology calls --- Calls for outsiders to take Barclays helm
(DBN)

______________

EU:

German govt urges swift verdict as court weighs EU bailout fund --- Euro Hits 2-Year Low As German Court Delays Decision
(DBN)

More Steel Capacity Closures Likely Across Europe
(DBN)

______________

PIIGS:

EU to Speed $123 Billion Aid for Spanish Banks --- Spain vows to use bank bailout for deep clean-up --- Spain pressed to inflict losses on savers --- Spain deepens austerity under European pressure
(DBN)

Italy May Seek ESM Bond Buys
(DBN)

You Must Go To Portugal To See How Bad Things Really Are
(DBN)

Greek Cash Reserves To Last For At Least One More Month
(DBN)

ie: Company failures 8% higher in first half of 2012
(DBN)

______________

Canada:

Postmedia earnings sink on weak advertising, restructuring charges
(DBN)

______________

China:

Chanos: China's credit situation is worse than Spain or Greece
(DBN)

Chinese economic data highlight slowdown — Q&A
(DBN)

______________

Serbia:

Serbia Must Adopt Program to Avoid Bankruptcy , Dinkic Says
(DBN)

______________

MENA:

Drydocks' debt deal okayed
(DBN)

______________

Japan:

Insider-Trading Crackdown in Japan Attempts to Rein In 'Animals Run Wild'
(DBN)

______________

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Copyright 2012