July 20, 2012

The Daily Bankruptcy News

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Law:

US Trustee objects to Dewey bonus plan --- The Objection --- Rejects Dewey & LeBoeuf's plan to pay bonuses --- Proposed Dewey settlement extended to August 7 --- Proposed Settlement with Dewey Partners on Hold
(DBN)

Morrison Foerster elects new leader
(DBN)

Plaintiffs' lawyer Willie Gary is hunted by creditors
(DBN)

Lawyers' fees cut in FedEx wage-and-hour case: Is this a trend?
(DBN)

Mayer Brown Sues Client for $5M in Fees
(DBN)

When Nakedness Is Protected Speech
(DBN)

A Rosetta Stone for the Bankruptcy World
(DBN)

Baker & McKenzie Seeks to Overturn $103M Malpractice Verdict
(DBN)

Canadian Appeals Court Dismisses Law Partner's Age Discrimination Case, Says He's Not an Employee
(DBN)

Survey Shows Billable Rates for Associates Up 7.5 Percent, More Than Twice as Much as for Partners
(DBN)

Did We Win?
(DBN)

Seven Vows Lawyers Make While Dealing With the Fallout of a Bad Attorney-Client Relationship
(DBN)

Well-Known UK Law Firm Launches Low-Cost Paralegal Team
(DBN)

Who are America’s Top 100 Entertainment ‘Power Lawyers’?
(DBN)

A Law Dean Switches Schools — Not At The End of the Year, But Weeks Before Classes Start
(DBN)

Law School As Troubled Industry: Executive churn
(DBN)

Law School Transparency: More on schools reporting false debt numbers
(DBN)

Should Taxpayers Fund Your Law School Housing?
(DBN)

$692 a Week, Part 1
(DBN)

Bad Numbers Revealing Worse Trends
(DBN)

In Fight Over Partner Who Left One Form For Another, Second Firm Is Ordered to Search All Computers For Evidence
(DBN)

Disbarred Lawyer Accused of Embezzling $737K From Milwaukee Law Firm Is Charged with Felony Theft
(DBN)

Lawyer Gives up Legal Career to Open Wine Bar
(DBN)

Part-Timers, Mostly Lawyers, Wrongly on N.J. Pension Rolls
(DBN)

Mistrial Declared in First-Degree Murder Case Over Juror’s Facebook Comments a Year Ago
(DBN)

Unhappy Appeals Court Won’t Undo Deal Giving Late-Convicted Murderer $200K from Victim’s Insurance
(DBN)

Lawyers Weigh In, Say Putting George Zimmerman on TV 'Crazy' --- George Zimmerman Says Killing Trayvon Martin Was 'All God's Plan' --- Prosecution May Use Zimmerman's Hannity Interview as Evidence
(DBN)

Lindsay Lohan poses in photoshoot with lawyer
(DBN)

Man Uses Freeway Billboard Ad to Propose to Texas Lawyer
(DBN)

Woman fined $200 for dry grass in drought
(DBN)

Oy veh, bring on the trial!
(DBN)

Zombie Law 101
(DBN)

Lawyer faces life in jail without parole
(DBN)

The Serial Groper: 169th Arrest
(DBN)

Police: 14 dead in Colorado theater shooting --- Shooter 'masked, clad in black' --- Cellphone footage shows aftermath --- 'Rifle, handgun, gas mask'
(DBN)

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Judges:

What's On at a Courthouse Near You
(DBN)

Justice Scalia Denies Any Rift With Justice Roberts
(DBN)

Even in dissent, Scalia stirs controversy
(DBN)

The Not-So-Young and the Restless: Drama at One First Street?
(DBN)

Americans Are Now Evenly Divided on Whether They Approve of Supreme Court’s Work
(DBN)

Controversy Over Alleged Paid S-- Performer In Judicial Conduct Inquiry
(DBN)

Louis Brandeis slams too big to fail...in 1913
(DBN)

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Wall Street:

Stock index futures signal mixed start
(DBN)

Stocks close higher as earnings season progresses
(DBN)

Libor fraud exposes Wall Street's rotten core
(DBN)

Big Bonuses Led to Wall Street Scandals
(DBN)

Bad News Buried in Positive Corp. Earnings
(DBN)

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Layoffs:

Jobless claims soar amid July volatility
(DBN)

NYC jobless rate hits 10%
(DBN)

Cheer up, depressed teens, you'll make less money later
(DBN)

Morgan Stanley plans further staff cuts on weak outlook
(DBN)

Unemployed Wall Street Vets Struggle To Find Work
(DBN)

Longer Hours Hint at Talent Shortages for Some Jobs
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

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Food/Beverage:

USA Springs should be liquidated, says bankruptcy trustee
(DBN)

Felix's Restaurant in New Orleans Files for Bankruptcy
(DBN)

We'll Make It Your Our Way
(DBN)

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Aviation:

AMR bankruptcy exclusivity period extended
(DBN)

AMR, US Airways CEOs Meet --- CEOs of American, US Airways talk merger options
(DBN)

Parker: American Airlines pilots can speed up a merger by approving contract
(DBN)

US Airways Wants Merger with American Immediately --- AMR CEO Said to Tell Suitor He Won’t Be Rushed on Deal
(DBN)

American Airlines begins to show signs of a turnaround
(DBN)

AA’s Horton isn’t chasing a payday
(DBN)

Textron CEO says Hawker Beechcraft bid possible
(DBN)

Hawker executives poised for a potential payday
(DBN)

TSA Agents Allegedly Strip-Search Woman, Fiddle with Feeding Tube
(DBN)

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Alternative Energy:

What Abound Solar's Bankruptcy Says About the DOE Loan Program
(DBN)

'Fundamental problems' devilling US renewables loan guarantees
(DBN)

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Celebs:

Judge approves Donnan bankruptcy plan
(DBN)

Terrell Owens Shows Up In Court And Pays Debt To Avoid Jail
(DBN)

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Pensions:

More objections to Fund counsel's demand for $750,937.82
(DBN)

Islands hit with bill for failed pension fund bankruptcy
(DBN)

More Bad News for Public Pensions
(DBN)

Study: Americans Losing Billions as 401(k)Loan Defaults Rise
(DBN)

Public Pensions About to Look Less Healthy
(DBN)

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Hedge Funds:

Synthetic CDOs are "high-stakes, high-level gambling...However you feel about gambling... this was legal gambling."
(DBN)

______________

Economy:

Factory activity in Philadelphia region shrinks
(DBN)

Sales of Existing U.S. Homes Unexpectedly Decreased in June
(DBN)

Jobless Claims in U.S. Rise as Auto Plant Layoff Effects Ease
(DBN)

Measuring every inch of the fiscal cliff and its impact of the US economy
(DBN)

World braced for new food crisis
(DBN)

How Much Would End of Bush Tax Cuts Cost?
(DBN)

Foreign Holdings of US Debt at Record High
(DBN)

Most in US: Wealth an Impossible Dream
(DBN)

The Places Where Americans Are Moving
(DBN)

The Big Retirement Lie
(DBN)

'Middle class' turns fuzzy in politics
(DBN)

The Future of Manufacturing Is in America, Not China. Unfortunately, No American Workers Will Be Involved.
(DBN)

Bernanke: Fed Audit Will Create 'Nightmare Scenario'
(DBN)

The economic downside of summer: kids get fatter and dumber
(DBN)

US Debt Clock
(DBN)

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Real Estate:

Defending an ‘Extreme’ Idea to Fix Housing
(DBN)

Mortgage bond investors fear eminent domain will contaminate TBA market
(DBN)

US rate on 30-year mortgage: 3.53 pct., new record
(DBN)

Housing Inventory Is Now Far Below 2005 Levels
(DBN)

Government opens program to sell troubled loans
(DBN)

Existing Home Sales Plunge 5.4% --- Led By Cheapest Homes
(DBN)

For Rent: Single-Family Homes
(DBN)

City of Angels Sues "Slumlord"
(DBN)

The Political Geography of Housing Misery
(DBN)

Critique Of Foreclosure Review Process Increasingly Cited By Consumer Groups
(DBN)

AutoNation Sees Vehicle Sales Boost From Homebuilding
(DBN)

MERS defaults sent to court - No non-judicial power of sale for MERS transactions
(DBN)

Plotting a Securitization Sequel
(DBN)

AIG Scorned by Old Republic for Insuring Homes Loans
(DBN)

A checklist for commercial landlords: what to do before tenants default
(DBN)

Wealthy Homeowners Brace for Fiscal Cliff
(DBN)

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Banking:

Morgan Stanley Shares Decline After Earnings Tumble 50%
(DBN)

After a Two-Month Lull, FDIC Fires off Two New Failed Bank Complaints
(DBN)

Libor Scandal Shows Many Flaws in Rate-Setting --- Congress to Take More Action on Libor Scandal --- US Banks Ignored in Congressional Libor-Rigging Probe --- Could Libor rigging have an upside? --- BlackRock Mulls Legal Action Amid Libor Scandal --- Deutsche Bank, HSBC Traders Investigated in Libor Probe --- Barclays the biggest Libor liar? No, that may have been Citi
(DBN)

FDIC's Norton Says U.S. Regulators Miscalibrated Rules for Banks
(DBN)

Washington Mutual plans to come back to life
(DBN)

______________

Health Care:

New owner named for Hope hospital
(DBN)

McKenna May's Disney Dreams Were Dashed By Her Father
(DBN)

Medicaid: "Every hospital in Texas is going to look at Perry and say, Please tell me why we're not taking money from the federal government to offset my uncompensated care."
(DBN)

Study: Lack of exercise kills many as smoking
(DBN)

San Fran Considers Strict Outdoor Smoking Ban -- Except For Medical Marijuana
(DBN)

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Municipalities:

Municipalities Losing Their Will to Make Debt Payments --- Moody's: Stockton, San Bernardino Bankruptcies May Signal Shift in Willingness to Pay
(DBN)

San Bernardino, Calif., opens the door to bankruptcy filing --- San Bernardino may need at least one year to emerge from bankruptcy --- City working on short-term budget --- San Bernardino officials back off corruption charge
(DBN)

The Best US Cities For Retiring On $100 A Day
(DBN)

California's financial problems deeper than bankruptcies
(DBN)

Troubled California cities view on debt a concern: Moody's
(DBN)

The sadness of Scranton --- When Your City Needs to Go Bankrupt --- Remedies for a Scranton in Distress
(DBN)

Watsonville Owes $1.8M; Bankruptcy Suggested
(DBN)

Could Hercules Share Stockton's Bankruptcy Plight?
(DBN)

FBI raids City Hall in New Jersey's capital
(DBN)

Detroit cuts union pay without bargaining; backlash possible
(DBN)

Borrowings Up 73% as Low Rates Let Anyone Sell Debt
(DBN)

Buffett: Your Muni Bonds Aren't Very Safe
(DBN)

Cities where a paycheck stretches furthest
(DBN)

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Environmental:

Anadarko Doesn't Reach Settlement of Tronox Case --- Trial to Resume
(DBN)

______________

Hotels:

Roberts brothers reach settlement with Bank of America
(DBN)

______________

Fraud:

Ex-McKinsey Consultant Avoids Jail Time After Insider Cooperation
(DBN)

Allen Stanford moved to high-security Florida prison
(DBN)

Accused ponzi schemer allegedly ran scam No.2 awaiting trial
(DBN)

Madoff Sons' Greenwich and Manhattan Homes Targeted by Trustee
(DBN)

______________

Mail:

Post Service Or The Karzai Family Fund? Congress Unsure Of Whether To Save Postal Service in The United States For A Fraction of The Cost of The Afghan Budget
(DBN)

Postal Service Set to Default on Billions in Health Fund Payments --- A U.S. Postal System Default
(DBN)

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Retailing:

Syms Asks Court Permission to Hold Auction for Florida Property
(DBN)

_____________

Defaults:

Fitch: High Yield Default Rate 2.2% in June, Recovery Rate 57.8%
(DBN)

______________

Distressed Investing:

Capula Said to Hire Former BofA Trader for Distressed Debt Fund
(DBN)

Ex-Goldman mortgage chief plans foreclosed home fund
(DBN)

______________

Awards:

Versa Capital Receives Turnaround Private Equity Firm of the Year
(DBN)

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Steel:

Judge rubber-stamped bonuses for RG Steel execs
(DBN)

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New Bankruptcy Opinions
(3 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (39 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (13 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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Bankruptcy Statistics:

Interactive Bankruptcy Statistics Map
(DBN)

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Venue:

Confirm Now And Transfer Later: One Court’s Clever Solution to a Venue Problem
(DBN)

_____________

Executory Contracts:

Function Over Form: When Is a Contract 'Assumed' for Purposes of the Kiwi Air Lines Defense?
(DBN)

______________

Consultants:

Huron Consulting settles SEC charges over accounting scandal
(DBN)

______________

Litigation:

Panel Debunks Predictive Coding Myths
(DBN)

______________

Insurance:

Federal-Mogul Court Confirms That Bankruptcy Law Trumps Anti-Assignment Provisions in Insurance Policies
(DBN)

______________

Autos:

GM Europe Labor Chief Expects Job Deal To Remain On Course
(DBN)

Obama made the right call on the auto bailout
(DBN)

Retirees Wrestle With Pension Buyout From General Motors
(DBN)

US Auto Companies to Keep Adding Jobs
(DBN)

Profits up at AutoNation as car buyers shrug off economic worries
(DBN)

More of Europe's Car Plants Must Close
(DBN)

______________

Coal:

Patriot Coal unsecured creditors committee appointed: full list
(DBN)

______________

Student Debt:

White House Backs Bankruptcy Option for Some Student Debt
(DBN)

Private student loan debt reaches $150 billion
(DBN)

Consumer Financial Protection Bureau issues report on private student lending --- The Report --- Report: Private-student-loan market mirrored housing bubble
(DBN)

Risky private student lending ballooned in the past decade
(DBN)

Consumers caught in student loan trap
(DBN)

______________

Private Equity:

Go into Run-Off Mode for the Best Job in the World
(DBN)

______________

Brokers:

Peregrine trustee to have estimates of claim payouts in 14 days
(DBN)

SpongeBob coins among assets seized by FBI from Peregrine HQ
(DBN)

Peregrine's Struggle to Stay Airborne
(DBN)

Peregrine CEO Wasendorf's Bail Hearing Postponed to July 27
(DBN)

Peregrine Trustee Says 11 Clients Have Returnable Assets
(DBN)

High Court gives MF Global administrators right to return £54m
(DBN)

______________

Religion:

Judge closes the book on monk's bankruptcy case
(DBN)

______________

Politics:

Warren being considered as DNC keynote speaker --- Elizabeth Warren backs President on business success
(DBN)

1/3 of Bain Capital's early investors were wealthy foreigners, most of whom invested through shell companies in Panama
(DBN)

______________

Accounting:

Fraud case vs Grant Thornton over telecom audit revived --- The Opinion
(DBN)

______________

Corporate Reform:

Ex-FDIC GC on the Past, Present, and Future of Dodd-Frank
(DBN)

______________

Photography:

Kodak's proposed bonus plan is a bad idea, most say
(DBN)

______________

Software:

Microsoft Reports First Loss Ever
(DBN)

______________

Telecoms:

Why Nortel bankruptcy talks are stalled
(DBN)

Law Enforcement Pays Wireless Carriers Millions to Obtain Customer Cellphone Data
(DBN)

______________

Weather:

US Temperatures Have Exploded
(DBN)

______________

UK:

Zolfo Cooper administrators close last of the Clintons stores
(DBN)

Geithner defends himself against King defending himself against Geithner
(DBN)

______________

EU:

Euro Slides as Spain's Bank Woes Haunt
(DBN)

Swift political action fails to stanch mounting euro pain
(DBN)

World Bank Head Warns No Region Immune to Europe Debt Crisis
(DBN)

European distressed credit fund closes
(DBN)

The Onion's Hilarious Solutions To The European Debt Crisis
(DBN)

______________

PIIGS:

Spain OKs austerity plan, investors unimpressed --- Huge protests against austerity cuts erupt in Spain --- German lawmakers approve Spanish rescue --- Spain, France auctions show widening gap in euro zone --- Why Spain’s 7 percent bond yields have the world on edge --- Borrowing costs hit highest since 1996 --- Workers plan mass demos against cuts --- 80 Spanish cities see protests --- Spanish banks have 155.8bn Euros in 'doubtful loans', the highest since 1994
(DBN)

ie: UK High Court upholds developer Tom McFeely bankruptcy decision --- ie: Revealed: Tom McFeely's €2.5m villa in the Algarve
(DBN)

Crisis ends golden age for Italy's banks --- Monti looks at urgent action to head off Sicilian bankruptcy
(DBN)

Greek privatization agency chief resigns --- Foot-dragging delayed sell-offs --- Greeks promised no more austerity in 2012 --- Greece tops list of most pessimistic countries --- Kouvelis Says Greece Could Still Default Yet
(DBN)

A graph of euro doom -- foreign capital's flight from Italy and Spain
(DBN)

______________

Hong Kong:

Hong Kong bankruptcy petitions down 5.03 pct in June, up 6.19 pct y/y
(DBN)

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Copyright 2012