July 5, 2012

The Daily Bankruptcy News

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Law:

Lawyers Rank Near the Top for Best-Paid Careers in America
(DBN)

Half a million dollars scammed from Boies Schiller account
(DBN)

Simpson Thacher, Dechert, Buchanan: Business of Law
(DBN)

Law Firm Mergers Level Off in US But Continue at a Steady Pace Abroad --- Law Firm Mergers Down in Second Quarter, but Up Overall From 2011
(DBN)

Why Dewey died: A rule barring nonlawyers from investing is key to law firm implosions
(DBN)

Ashurst confirms 3% partner profits increase to £744,000
(DBN)

Clifford Chance: US is still on the agenda
(DBN)

"You can't say you charge a $100,000.00 retainer fee and an additional $1,000.00 an hour without sounding pretentious. It just can't be done."
(DBN)

Biglaw Partner Arrested for Driving Under the Influence, Allegedly Crashing Car Into Minibus
(DBN)

Bar Review Diaries: Tornadoes, Facebook Withdrawal, and Hibernation
(DBN)

If You Want To Work In-House With A Quant Fund, You Better Have A Booming LSAT Score
(DBN)

The main problem is compensation; business model flawed
(DBN)

Stephen Glass, disgraced journalist, seeks California law license
(DBN)

The 20 Most Expensive Law Schools In America
(DBN)

Law School Bargains
(DBN)

Law School Transparency: The crash --- Equal Opportunity
(DBN)

Tough Choices Ahead for Some High-Ranked Law Schools
(DBN)

Stroock Seeks $261K in Attorney Fees from Ex-Partner Who Sued for Retirement Pay
(DBN)

Use of Websites Like Groupon to Get Clients Violates Fee-Sharing Rule
(DBN)

‘Standby’ Counsel Who Didn’t Participate May Be Held Liable for Malicious Prosecution
(DBN)

Man high on synthetic 'spice' goes on naked 'ninja' rampage --- 'Zombie Cannibal': 'I'm a eat you'
(DBN)

Kansas Attorney Accused of Upskirting His Female Employees
(DBN)

ACLU Launches Smartphone App To Secretly Record Police Stops
(DBN)

Clemens Won’t Get Legal Fees for Mistrial
(DBN)

Remembering Matlock
(DBN)

The 20 Sexiest Celebrity Mug Shots
(DBN)

Lawyers Commemorate July 4 Holiday with Courthouse Readings of Declaration of Independence --- Only 70% Of Americans Agree With The Declaration Of Independence
(DBN)

Woman Accused Of Hit-And-Run Claims She Did Not Want Ice Cream To Melt
(DBN)

After drunken driver kills son, mother billed for cleanup
(DBN)

Say What?!
(DBN)

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Judges:

SCOTUS Springs a Leak (or Several)--- Roberts wrote both Obamacare opinions --- Seven Theories About Who The Supreme Court Leaker Was --- Slimy leaks about John Roberts at Supreme Court --- The “narrative” of judicial intrigue
(DBN)

Former judge to investigate ResCap bankruptcy --- Ex-Enron, Chrysler Bankruptcy Judge
(DBN)

Savaging Roberts: Conservatives Run Amok --- The Mystery and Mystique of John Roberts --- Questions about chief justice's health-care ruling could have lasting impact --- Liberals fear the John Roberts rebound
(DBN)

Brooklyn federal judge sanctions attorney for 'frivolous-plus' argument
(DBN)

Circuit Pulls Judge Real from Yet Another Case
(DBN)

Judge In Abusive Video Will Not Face Complaint From Supreme Court Because He Is “Contrite”
(DBN)

Judge Lamberth and the art of judicial writing
(DBN)

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Wall Street:

U.S. Stock Futures Are Little Changed Before Jobs Data
(DBN)

European shares halt rally ahead of ECB
(DBN)

US stocks finish higher led by energy sector
(DBN)

The Best Wall Street Movies Of All Time
(DBN)

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Layoffs:

AP survey: High US unemployment to persist well into next presidential term
(DBN)

Layoffs Fall To A 13-Month Low
(DBN)

Highest-paying careers in the country
(DBN)

Dear Jobseeker: Here's Why I Can't Hire You
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

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Celebs:

Arkansas' Smith facing bankruptcy --- Razorback Coach Facing Bankruptcy Following Bad Land Deals
(DBN)

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Religion:

Milwaukee Archdiocese enters bankruptcy mediation
(DBN)

Judge: Diocese can shield names of accused priests
(DBN)

Diocese of Davenport to reveal accused sex offenders
(DBN)

Bankruptcy court sells self-anointed monk's property
(DBN)

______________

Energy:

Dynegy Unit Judge to Allow Bankruptcy Plan Vote
(DBN)

______________

Photography:

Kodak Gallery Is Officially No More
(DBN)

______________

Fraud:

Goldman Sachs loses appeal of $20.6 million Bayou award
(DBN)

Judge rules against SEC in Stanford claims case
(DBN)

NY rabbi sentenced in NJ for laundering scheme
(DBN)

These Chinese Frauds Could Be Just The Tip Of The Iceberg
(DBN)

______________

Debt Collection:

Debtor's prisons are back
(DBN)

Florida Mayor May Be Pursued By Debt Collectors He Voted To Give More Power
(DBN)

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Politics:

Liz Warren, Scott Brown spar over health 'tax' --- Pundits shocked as Scott Brown praises Coakley's 2010 bid
(DBN)

A deep dive into Mitt Romney's offshore accounts, tax loopholes and opaque IRA
(DBN)

Mitt Romney's Hidden Offshore Accounts
(DBN)

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MF Global:

Legal disputes delay MF Global creditor payments
(DBN)

Outcomes for MF Global UK Clients and Creditors Published
(DBN)

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Corporate Reform:

Verret: George Washington would “turn in his grave” at sight of CFPB
(DBN)

Non-bank lenders seek exemption from consumer protections
(DBN)

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Convenience Stores:

Robertson Enterprises wants to fill tank with DIP
(DBN)

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Alternative Energy:

State out $16 million as Schott closes
(DBN)

______________

Distressed Investing:

Zell Said to Seek $1 Billion for New Private-Equity Fund
(DBN)

______________

Economy:

Factory Orders Up More Than Expected in May
(DBN)

New Investment Tax Slated for 2012
(DBN)

IMF Warns on US Economy
(DBN)

Bernanke is bankrupting the Social Security Trust Fund
(DBN)

Starbucks CEO: American Dream is Fading
(DBN)

US Consumers Paying More Debt on Time
(DBN)

Working until 70 could ease most retirement worries
(DBN)

More and more people are renouncing their US citizenship
(DBN)

Charts That Will Make You Proud To Be An American
(DBN)

Is the wealth gap hurting all of us?
(DBN)

Crisis Forces Economists to Get Real
(DBN)

Best Thing We Could Do for the Economy
(DBN)

US Debt Clock
(DBN)

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Real Estate:

Some Advice from the IMF: Cramdown Mortgages in Bankruptcy
(DBN)

Former Bankruptcy Judge Named Examiner in ResCap Case
(DBN)

San Antonio: Home builder files for bankruptcy , homeowners left with few options
(DBN)

New York’s proposed Foreclosure Fraud Prevention Act would criminalize “robo-signing”
(DBN)

Judge Upholds Springfield's Anti- Foreclosure Ordinances
(DBN)

Housing: Seriously Dude, Where's my inventory?
(DBN)

How the Big Banks Lost and Homeowners Won in California
(DBN)

8 mREITs Being Impacted By Defaults Now
(DBN)

Dakota board members can be liable in discrimination lawsuit
(DBN)

Some US Metros Clear of Housing Crisis?
(DBN)

Report: Countrywide won influence with discounts
(DBN)

US Economy May be Bottoming Out
(DBN)

Apartment Vacancy Rate falls to 4.7% in Q2
(DBN)

'You want my home, it will cost you your life'
(DBN)

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Weather:

More than 1 million still without power 5 days after storm
(DBN)

Hundreds of DC Metro Passengers Walk Along Tracks After Train Loses Power
(DBN)

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Aviation:

American Airlines, UCC lay out reasons for seeking more time to propose plan
(DBN)

US Airways in No Rush to Merge With American
(DBN)

AMR given more time to file bankruptcy plan
(DBN)

American Airlines outlines cuts in cuts for airport agents, rez agents, others
(DBN)

Contract will be tough sell for AA mechanics
(DBN)

Virgin America Q1 losses widens to $76 million in Q1
(DBN)

JetBlue pilot not guilty by reason of insanity
(DBN)

Hawker Beechcraft Maps Out Plan To Exit Bankruptcy --- More Layoffs At Hawker; Bids Considered --- Hawker creditors to divide equity if company emerges --- In talks with potential buyers --- Six companies interested
(DBN)

Lufthansa CEO Says Intercontinental Takeovers Inconceivable
(DBN)

Pluna on verge of bankruptcy as strike cancels flights
(DBN)

Do or die? Kingfisher surges ahead of lenders' meet
(DBN)

______________

Banking:

Living wills for megabanks due --- Big Banks Release 'Living Wills,' Say They Can Be Broken Up Without Bailout --- Big Banks' 'Living Wills' Promise Bankruptcy Instead of Bailouts --- Top banks say they not too big to fail --- Bank of America 'living will' outlines plan for a crisis
(DBN)

Diamond Ducks in Parliament, Points to Other Banks --- Says regulators complicit in rates scandal --- Lawmakers hurl furious questions at ex-Barclays CEO --- Moody's Changes Barclays Rating Outlook to Negative --- Wall Street Bank Investors Are Kept in the Dark on Libor Probes Liability --- Barclays' ex-boss tells of 2008 fears --- Feared Barclays nationalization --- Says capital raising in 2008 could have been ruined by interest rate reports --- 'For you ... anything.' Barclays Libor emails paint ugly picture --- A bank robbery --- What the Barclays Settlement Means for Other Banks --- Diamond Exit Raises Speculation of Bank Split --- Diamond admits "reprehensible" behavior at Barclays --- Says traders' emails made him 'physically ill' --- Diamond evades exit pay questions --- Six things we learned --- A day of unanswered questions ---Analysts React to Diamond’s Resignation --- In Libor Scandal, Prosecutors Need to Think Criminal --- Barclays: What It Does, Where It Ranks --- Timeline
(DBN)

BlueMountain Made $300 Million On JPMorgan Nightmare
(DBN)

U.S. Overdraft Revenues to Fall 50% by 2014
(DBN)

Large Banks Simply Can’t Be Trusted – The Cultural Mindset Of Barclays and JP Morgan Management
(DBN)

______________

Lehman:

Lehman Advisers Seek $91 Million
(DBN)

Judge slashes fees in Lehman Brothers class action
(DBN)

______________

Credit/Debit:

Fitch: U.S. Credit Card ABS Late-Pays May Test Lowest-Ever Levels
(DBN)

______________

Small Business:

Federal government misses small business contract goal - again
(DBN)

______________

Bankruptcy Crimes:

Houston Man Charged in Bankruptcy Fraud Scheme
(DBN)

______________

Education:

Oldest Texas junior college files bankruptcy
(DBN)

Students get absolutely nothing out of attending for-profit colleges
(DBN)

______________

Hotels:

For Long Island Hotel Owner, Bankruptcy a Second Chance
(DBN)

______________

Accounting:

Banks agree Grant Thornton refinancing
(DBN)

______________

Agriculture:

Falkirk won’t disclose earnings from liquidation
(DBN)

______________

Paper:

NewPage Announces Restructuring Update
(DBN)

______________

Art:

Former Head of Barnes Foundation Says Its Move Was Not Forced by Bankruptcy
(DBN - NY Times - Paywall Limit Possible)

______________

Defaults:

S&P: US Default Rate Creeps Higher to 2.7% in June
(DBN)

______________

Autos:

Auto Industry the Silver Lining in Gloomy Economy
(DBN)

German Sports Car Manufacturer Artega Files For Bankruptcy
(DBN)

______________

Corporate Governance:

Board Members Should Face Consequences
(DBN)

______________

Shipping:

China's Fleet of 'Ghost' Ships Points to Slowdown
(DBN)

______________

History:

The Greatest Economic Collapses In World History
(DBN)

______________

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 (42 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (14 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)

______________

Bankruptcy Statistics:

Interactive Bankruptcy Statistics Map
(DBN)

______________

Claims:

Creditor Who Waited to File Late Proof of Claim Learns It Can’t Rush Through the Appeals Process: Delaware District Court Denies Leave for an Interlocutory Appeal
(DBN)

______________

Discharge:

To obtain third party releases, indenture trustees must specifically and conspicuously inform bondholders of releases proposed under a plan of reorganization and fully inform bondholders of all aspects of any proposed settlement
(DBN)

______________

Insurance:

D&O Insurance: Applying the Insured vs. Insured Exclusion When Plaintiffs Include Both Insured Persons and Non-Insureds
(DBN)

______________

Litigation:

ABA interim report on ESI in bankruptcy cases
(DBN)

______________

Fireworks:

Fireworks Industry in Biggest Slump in Decades
(DBN)

______________

Municipalities:

Stockton Bankruptcy The Result Of 15-Year Spending Binge --- How Stockton went broke --- Debt and defiance in bankrupt Stockton, California --- Another Bankrupt California City Not Touching Pensions --- Stockton - another outlier, or harbinger? --- Bond Insurer Vows Fight --- From “Fat City” to “Mudville” Once Again --- On patrol in bankrupt, dangerous Stockton
(DBN)

2nd Calif. city within week files for bankruptcy --- Small Ski Town Faces $43 Million Tab
(DBN)

Harrisburg, Pennsylvania, Bankruptcy Ban to Be Extended --- $19 Million Judgment in Incinerator Litigation
(DBN)

City on brink of bankruptcy considers shutting down
(DBN)

Middletown is applying for act 47
(DBN)

Illinois' Pension Hole Grows Deeper
(DBN)

US Cities Score Poorly On The Economist's New Livability Index
(DBN)

Cities Where People Have Best Credit Scores
(DBN)

Zombie 'theme park' planned for Detroit's abandoned streets
(DBN)

Thousands of properties for sale in Detroit
(DBN)

______________

Telecoms:

LightSquared seeks more cash to pay lawyers fighting FCC
(DBN)

______________

Health Care:

Christ Hospital Sale Receives Final Approval
(DBN)

Saying goodbye to St. Vinnie's
(DBN)

Mass layoffs at hospitals double
(DBN)

Covering the health care law’s guarantee
(DBN)

Poll: Most Oppose Blocking Obamacare
(DBN)

Legal eagles redefine healthcare winners, losers
(DBN)

______________

Hedge Funds:

Fletcher Sues in NY to Block Cayman Liquidation of Hedge Fund
(DBN)

Hedge Fund Files for Bankruptcy
(DBN)

______________

UK:

Bank Of England Announces £50 Billion More QE --- Bank of England Prints Money Again to Boost Economy
(DBN)

"Behold, the British establishment, panicked"
(DBN)

Osborne blames Labour, not BoE, for Libor scandal --- Defiant Barclays --- Barclays takes aim at U.K. regulators --- BoE deputy 'keen to give evidence' --- Denies Gov't Told Barclays To Manipulate Libor Rate --- Labour figures 'clearly involved' in Libor scandal --- Osborne to announce independent inquiry --- Labour ministers were warned about Libor fixing --- Diamond shares the love --- The Many Facets of Robert Diamond --- Barclays Likely to Balk at Vast Cash Pile for Departing Diamond --- Bob Diamond Was Pretty Annoying During The LIBOR Hearing
(DBN)

PwC admits 61 new UK equity partners --- PwC admits 61 new UK equity partners
(DBN)

Rangers barred from playing in Scottish top league
(DBN)

British Youth 'Fearing Debt And Unemployment'
(DBN)

Bonuses for failing directors should be clawed back, says think tank
(DBN)

McFeely's bankruptcy bid put on hold in London
(DBN)

______________

EU:

Germans Are Terrified Of The 'European Monster State' --- Euro Now Endangers German Economy
(DBN)

Another Sign That The German Economy Has Cracked
(DBN)

Christine Lagarde Serves IMF Tough Love to EU
(DBN)

France Faces Major Test as It Enters 'Danger Zone' --- France Raises Taxes on Wealthy, Companies
(DBN)

Euro Falls as German Services Decline Before ECB
(DBN)

Cyprus sees bailout talks wrapping up end-July
(DBN)

London team wins prize for study of leaving euro
(DBN)

U.K. House Prices Rise for a Second Month
(DBN)

______________

PIIGS:

Greece to present debt inspectors 'alarming' data --- Greece: Economic sentiment drops to seven-month low --- IMF Christine Lagarde Appears “Not in the Mood for Greek Renegotiation” --- Greece default likely: Sweden's Borg
(DBN)

Merkel tells Italy benefits of reforms take time --- Monti: Italy does not need a bailout --- Monti, Merkel Pledge to Cooperate on Crisis After Summit Discord
(DBN)

Spain's Banking Crisis Moves Into the Courtroom --- Spain opens fraud case on ex-Bankia chief Rato --- Spain auctions bonds but at higher cost --- Spanish Banking Woes Far From Over
(DBN)

Irish unemployment hits 18-year high of 14.9 pct --- Irish to sell debt for 1st time in nearly 2 years
(DBN)

______________

Canada:

Alberta bankruptcy rates easing
(DBN)

______________

China:

China Cuts Interest Rates --- Second Time This Year
(DBN)

More Than 600 Companies Were Affected In Yet Another Credit Crisis In China
(DBN)

______________

MENA:

First Test Case for Dubai's Decree 57 Restructuring Regime
(DBN)

Iran Test-Fires Dozens Of Long Range Missiles
(DBN)

______________

Vatican:

Vatican receives money-laundering report
(DBN)

______________

Kazakhstan:

Kazakh Central Bank Studying BTA Forged Signatures Allegation
(DBN)

______________

Iceland:

No One Is Convinced By Paul Krugman's Glorification Of Iceland
(DBN)

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Copyright 2012