June 15, 2012

The Daily Bankruptcy News

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Law:

Berger Singerman Attorney Christopher A. Jarvinen Selected To Join "Nextgen Leadership Program" Of The International Insolvency Institute
(DBN)

Dewey backlash presents law firm ethos Exhibit A --- Ex-partner sues Dewey, says law firm was Ponzi scheme --- Dewey & LeBoeuf: Was leadership operating a Ponzi scheme --- Ex-Dewey Leaders Hid Firm's Condition, Suit Says --- Defendant Dewey Leader Calls Ex-Partner’s ‘Ponzi Scheme’ Suit ‘Sad,’ Says Plaintiff Got Bigger Bucks --- Dewey & LeBoeuf Resolves Lawsuit Aimed at Protecting Pensions --- Dewey trainees start to find new homes --- Former Dewey chair hires Spitzer's PR to handle media enquiries --- Dewey's Riyadh team resurfaces at Patton Boggs --- Dewey & LeBoeuf attorneys are still finding new homes
(DBN)

MNAT

The Problem with Bankruptcy Isn't Attorneys' Fees, It's Executive Incompetence
(DBN)

Watts Water sues law firm over FCPA inquiry
(DBN)

Ted Olson: A Rhodium Tongued Devil
(DBN)

‘Gold Standard’ Law Firms Named for Placing Women in Leadership; List Could Shrink Next Year
(DBN)

In Search of a Feminine Feminism: Why Skirts Are the New Pants
(DBN)

Insolvency Associate Theresa Critchfield Joins Husch Blackwell
(DBN)

From Biglaw to Boutique: You Are Not Your Hours
(DBN)

Why the business of law hasn't changed
(DBN)

Crunching Law Department Numbers to Reduce Outside Counsel Spend
(DBN)

Asian Americans Are Not Satisfied
(DBN)

Ex-SNR Denton employee sends furious email around firm
(DBN)

Mystery "Ashurst lawyer" posts raunchy Facebook pics
(DBN)

Defendant launches into foul-mouthed courtroom tirade
(DBN)

Our Curious Attitude Toward ‘Selling’
(DBN)

Does Going In-House Ruin Your Skills?
(DBN)

Behind the curtain of student loans
(DBN)

Law Grads ‘Indentured Servants’ to Loans, Law Prof Says; Law School Crisis a Symptom of Weak Economy
(DBN)

Law School Transparency: Demoralization costs
(DBN)

12 Tips on Becoming a Market-Ready Law Grad
(DBN)

Texas Woman Accused of Forging Law Degree, Faking Biglaw Summer Associate Position
(DBN)

In Defense of Stephen McDaniel: A Testimonial From A Friend
(DBN)

Justice Department Refuses To Identify, Notify or Assist Prisoners It Knows Are Innocent
(DBN)

Ex-Prosecutor Tells Discipline Panel He ‘Didn’t Think Anything of’ Roommate’s Drug Activities
(DBN)

Judge Overturns $13.8M Award to Lawyer and Wife for Online Libel
(DBN)

Lawyer Who Narrowly Lost AG Race Is Charged in Shooting Case, Cites Castle Doctrine
(DBN)

Lawyer Disbarred After Plea in Client Theft; Pending Case Claims He Charged Wedding to Law Firm
(DBN)

Man Goes On Casino Bender After An ATM Let Him Take Out Unlimited Cash
(DBN)

Lawyer Sentenced to Work in Sewage Treatment Plant; Prosecutors Cited ‘Sex God’ Text to Babysitter
(DBN)

Bill Introduced to Legalize Sunday Morning Brunch
(DBN - NY Times - Paywall Limit Possible)

Man Claims NYPD Cops Strangled His P----
(DBN)

College Student Charged With Wasabi Assault
(DBN)

Undercover Police Get Green Light to Have Sex With Suspects While on the Job
(DBN)

Say What?!
(DBN)

______________

Judges:

Judge Rakoff: A hot bench
(DBN)

The secret keepers: meet the US Supreme Court clerks
(DBN)

Judges don't have a reputation as the most tech-savvy group in the world, but they've got a fondness for the iPad
(DBN)

Quote of the Day: The Broccoli Mandate?
(DBN)

How Broccoli Landed on Supreme Court Menu
(DBN)

Massive LA County court layoffs to begin Friday
(DBN)

Court workers offer unpaid work to reduce layoffs
(DBN)

GOP Begins Judge Blockade
(DBN)

Judicial Commission's first vote on Prosser complaint was unanimous
(DBN)

Kennedy’s Pivotal Vote Focuses on Freedom as Court Ruling Looms --- Why Justice Kennedy Is Just Like America
(DBN)

______________

Wall Street:

Stock index futures flag higher Wall Street open
(DBN)

Stocks Close Mostly Higher After Late-Day Volatility
(DBN)

With Dimon's Halo Atilt, Blankfein Looks More Like a Darling
(DBN)

______________

Layoffs:

What it's like to go looking for a job after being laid off at age 58
(DBN)

Jobless Claims in U.S. Unexpectedly Rose Last Week
(DBN)

US job market weakening
(DBN)

100% Of US Jobs Added Since 2010 Have Been The Kind Without Unemployment Insurance
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

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Aerospace:

Northstar Aerospace (USA)Files Bankruptcy in Delaware
(DBN)

______________

Video Games:

38 Studios bankruptcy judge has sailed the seas
(DBN)

RI suspends unpaid-wages probe at Schilling's firm
(DBN)

______________

Fraud:

Stanford gets 110 years for role in $7B swindle --- Stanford's victims also have long sentence
(DBN)

Allen Stanford Has No Idea What You’re Talking About
(DBN)

Control over ex-tycoon Stanford's assets at issue
(DBN)

Jury starts deliberations in Gupta insider-trading case --- Rajat Gupta Jury Queries 'Conspiracy' as Evidence is Called 'Circumstantial'
(DBN)

Dreier's Art Adviser Faces Clawback
(DBN)

U.S. Supreme Court: Never mind the 9. Meet the 36.
(DBN)

_____________

Politics:

Barack Obama Has A New Message On The Economy, And It Could Change The Whole Campaign
(DBN)

If You Missed Obama's Big Economy Speech, Here's The One Paragraph You Need To Read
(DBN)

More Americans Still Blame Bush For Lousy Economy Than Obama
(DBN)

Romney's Profit from Bain's Buyouts: Up to $20,000 Per Laid-off Worker
(DBN)

Michigan Lawmaker Banned From House Floor For the "V Word"
(DBN)

Elizabeth Warren seizes on JPMorgan loss to boost Senate bid --- Elizabeth Warren: Deregulation put families at risk, so what happens now? --- Brown, Warren Scrap Over Native American Controversy --- Elizabeth Warren's 'Native American' claims: if she was a Republican, the media would call her a racist --- Senator McDreamy and the Democratic Cooties --- Sen. Scott Brown questions Elizabeth Warren's credibility --- Brown-Warren race coming up short, some say --- Elizabeth Warren : Wallpapering for dummies
(DBN)

_____________

Corporate Reform:

Judicial Watch files FOIA lawsuit against CFPB for documents relating to Cordray appointment
(DBN)

We Met with the CFPB and Were Pleasantly Surprised
(DBN)

Growth of Elder Financial Abuse Prompts CFPB Probe
(DBN)

Student Lending Comments Cite Regrets, Difficulties: CFPB
(DBN)

CFPB establishes procedural rules for non-bank supervision program
(DBN)

______________

Economy:

Central Banks Warn Greek-Led Euro Stress Threatens World --- Central banks ready to combat Greek market storm --- Central Banks Promise To Save World On Monday If Greece Elects A Crazy Person This Weekend
(DBN)

Jobless claims up; cooler CPI gives Fed more room
(DBN)

High Jobless Claim Keep Spoiling Fed Picnic
(DBN)

Wealth inequality is even worse than income inequality
(DBN)

Everyone Has The Falling Household Net Worth Story Dead Wrong
(DBN)

Trade Protectionism Rises as Economies Slow
(DBN)

Inflation Rates Around The World
(DBN)

The US Economy Just Gave The Fed 2 Reasons To Load Its Bazooka
(DBN)

US Debt Clock
(DBN)

______________

Real Estate:

In ResCap Bid, a Savvy Move by Berkshire
(DBN)

Nationwide Shadow Inventory Drops to Levels Last Seen in 2008
(DBN)

Harvard: The Housing Market Revival Is Here
(DBN)

BofA Loses Bid To Consolidate Mortgage Suits
(DBN)

Why Do Lenders Disdain Bankruptcy Court? 2 Cases Show "Why" and Offer Lessons
(DBN)

The Vicious Cycle Of Unemployment And Foreclosure Continues
(DBN)

Foreclosures Up in May from April, But Down from May 2011
(DBN)

Foreclosure Spike Is Positive Sign For Housing
(DBN)

Georgia jumps to national lead in foreclosure rates --- Phoenix sees foreclosures fall, but still No. 3 in the US
(DBN)

New York moves to criminalize foreclosure fraud --- Schneiderman bill would criminalize robosigning
(DBN)

REO agents risk scrutiny under AG settlement
(DBN)

A Brand New Troubling Sign For The Housing Market
(DBN)

Inspector General to audit Fannie, Freddie REO businesses
(DBN)

The Top 5 RMBS Cases to Watch this Summer: No. 2 – In re the Application of Bank of New York Mellon
(DBN)

____________

MF Global:

MF Global Parent Disputes With Brokerage Over $2.3 Billion
(DBN)

MF Global Clients Get $130M From CME But $1.6B Is Still Missing
(DBN)

MF Global Brokerage Disputes to 'Heat Up,' Lawyer Says
(DBN)

MF Global Trustee Gets $130 Million From CME for Payouts
(DBN)

______________

Politics:

Elizabeth Warren seizes on JPMorgan loss to boost Senate bid
(DBN)

______________

Tech:

3rd bankruptcy in Perry's tech fund
(DBN)

______________

Aviation:

An International Approach to Breaking the Core of the Bankruptcy Code and FAA Conflict
(DBN)

US Airways CEO says American can't reverse market share decline
(DBN)

US Air CEO says merger is American's best option --- US Airways CEO: Just Give Us a Fair Shot
(DBN)

AMR CEO Said to Ask Bondholders to Study Stand-Alone Plan
(DBN)

TWU: Insurgent mechanics' unions launch membership drives at American Airlines
(DBN)

Doug Parker says US Airways has ‘tremendous financial support’ for an American Airlines merger
(DBN)

US Airways seeks to sell shareholders on AMR deal
(DBN)

David Tepper's First-Quarter Airline Purchases Gain 82 Percent Average Year to Date
(DBN)

Aviation: Ghost at the feast
(DBN)

______________

Autos:

James Sherk and Todd Zywicki: Obama's United Auto Workers Bailout
(DBN)

Auto Bailout or UAW Bailout?
(DBN)

GM, Chrysler and Ideologically Selective Bankruptcy Formalism
(DBN)

How the Obama Auto Bailout Screwed Taxpayers and Paid Off Unions
(DBN)

______________

Celebs:

How is Jamal Lewis able to file for bankruptcy ?
(DBN)

Baldwin Loses BP Case Against Kevin Costner
(DBN)

______________

Health Care:

Ex-clinic owner takes 5th in Vegas bankruptcy case
(DBN)

Judge Approves Lawrence & Memorial's $69M Bid for Westerly Hospital in RI
(DBN)

______________

Personal Finance:

The High Cost Of Living After Graduation, 1/3rd Living At Home
(DBN)

Many Americans Believe Common Credit Card Myths
(DBN)

______________

History:

This Is How A Land Of Opportunity Dies
(DBN)

______________

Municipalities:

Act 47 fix-it bill on track to passage
(DBN)

New Harrisburg Receiver meets with City Council, states goals
(DBN)

Stockton Deadline Nears, Moody's Warns of Defaults
(DBN)

Bumps ahead for Stockton's credit rating
(DBN)

2nd RI city facing receivership after tax stalls
(DBN)

Mich. Supreme Court may decide on law repeal vote
(DBN)

What it's like to live and work in one of America's poorest counties
(DBN)

Ten Highest Tax States on $1 Million Income
(DBN)

______________

Consumer Bankruptcy:

They’re Just Letting Anyone In These Days: The Expansion of § 523(a)(5)’s “Domestic Support Obligation” Exception to Discharge
(DBN)

______________

Education:

State auditor warns Norfolk State University
(DBN)

______________

Corporate Governance:

Seeing Red Flags Where None Exist
(DBN)

______________

Shipping:

Creditors seize Dongfang tankers
(DBN)

______________

Pensions:

Bankruptcy judge issues memo on dismissal decision
(DBN)

AG expresses concern over $1M attorney fees in Fund bankruptcy case
(DBN)

______________

Mail:

Post office closures : A primer
(DBN)

______________

Telecoms:

Falcone's bankrupt LightSquared can draw cash
(DBN)

______________

Distressed Investing:

Goldman Said to Hire Deutsche Bank's Head of Distressed Sourcing
(DBN)

______________

Defaults:

2012 global corp defaults now 34, up 1 this week, double from year ago --- Global Default Rate to Rise to 3.1% By Year-End, Moody's Says
(DBN)

______________

New Bankruptcy Opinions
(6 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (22 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (16 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)

______________

Miscellaneous:

Rochelle on Houghton Mifflin Venue, NewPage, Dewey: Audio
(DBN)

______________

Bankruptcy Statistics:

 

Interactive Bankruptcy Statistics Map
(DBN)

______________

Avoidance Actions:

Defeating the Preference System: Using the Subsequent New Value Defense and Administrative Expense Claims to “Double Dip”
(DBN)

______________

Plan Confirmation:

Hot Chapter 11 Plan Issues
(DBN)

Hot Consumer Bankruptcy Plan Issues
(DBN)

Defining the Close Nexus: An Analysis of a Bankruptcy Court’s Chapter 11 Postconfirmation Jurisdiction
(DBN)

______________

Jurisdiction:

Stern v. Marshall Issues
(DBN)

Stern v. Marshall: A Dead-End Marathon?
(DBN)

______________

Liens:

Strip-Off: What Is the Correct Procedure to Avoid a Wholly Unsecured Junior Mortgage?
(DBN)

______________

Bankruptcy Planning:

Bankruptcy-Remote Special Purpose Entities and a Business’s Right to Waive Its Ability to File for Bankruptcy
(DBN)

______________

Mootness:

Walking the Tight Rope and Not the Plank: A Proposed Standard for Second-Level Appellate Review of Equitable Mootness Determinations
(DBN)

_____________

UCC:

“Don’t Have a Cow, Man”: Court Rules that a Lender’s Perfected Security Interest in Cattle Does Not Lapse Where the Lender Fails to File a Postpetition UCC-1 Continuation Statement
(DBN)

______________

Litigation:

Growing Division Over Iqbal/Twombly’s Applicability to the Pleading of Affirmative Defenses
(DBN)

______________

Insurance:

NY Appellate Court: Excess Insurers Off the Hook Where It Can't Be Determined if Underlying Insurance Exhausted
(DBN)

D&O Insurance Liability in Bankruptcy
(DBN)

______________

Banking:

What Happens When JPMorgan Fails?
(DBN)

Jamie Dimon - An Institutional Flaw at the Heart of the Federal Reserve
(DBN)

______________

UK:

Ex-Rangers boss Walter Smith wants to rescue Scottish club from bankruptcy with takeover bid
(DBN)

What a UK bank ring fence looks like
(DBN)

Stephenson Harwood hires from SNR Denton continue with senior duo
(DBN)

Irish property pair launch bankruptcy battle --- O'Donnell bankruptcy bid opposed by bank
(DBN)

U.K. Household Incomes Post Biggest Drop in 30 Years
(DBN)

Embattled businesses warned of greater D&O scrutiny
(DBN)

Want To Make Risky Trades with No Brakes? Go To London
(DBN)

Rangers in crisis: Creditors told they will get nothing
(DBN)

HMRC criticised over football insolvencies
(DBN)

UK Central Banker: Worse Crisis Since WWII
(DBN)

______________

EU:

“Placement of a Member State under legal protection”
(DBN)

German parliament to vote on ESM late June
(DBN)

California Hedge Fund Is Latest Europe Crisis Casualty
(DBN)

It’s a poker game, and Merkel will win
(DBN)

Europe crisis spreads as Merkel resists big steps
(DBN)

Eurozone's in debtor’s prison with half the sentence still to go
(DBN)

______________

PIIGS:

Spain borrowing rates soar after Moody's downgrade --- IMF Reiterates No Plans to Fund Financing for Spain, Only Monitoring --- Why The Spanish Bailout Has Failed --- Victory claims fade as Spanish mood darkens --- Spain's Next Downgrade Comes With An $18B Price Tag
(DBN)

Greek Stocks Leap 10% --- This Used To Be The 10th Richest Shopping Street In The World --- Goldman: 'Europeans Are Prepared To Let Greece Descend Towards Chaos' --- The Two Biggest Surprises From My First 24 Hours In Greece --- Property tax evaders targeted --- My Hilarious Encounter With Greek Communists --- Fitch: investors look to past for Greek exit corporate impact --- Moody's downgrades Cyprus on Greek euro exit fears --- Lucky little Cyprus --- Greek recession take its toll as election looms --- Corporate capital flight grows --- ECB: Greek swap files would inflame markets --- Greece's Tsipras slams bailout, vows to stay in euro --- The cost of default - rioting, sieges and death --- Long-term jobless figure hits 600,000 --- ECB on standby for Greek election fallout --- Greek Election Will Seal Fate of Global Economy --- Mayer Warns of Disorderly Greek Bankruptcy --- How Greece Squandered Its Freedom --- IIF suggests Greek targets may have to be eased --- Renegotiation of Greek bailout would be dangerous, says Weidmann
(DBN)

Italy trembles on the brink of the impossible --- Italian court declares Ligresti holdings bankrupt
(DBN)

ie: Threat of fire-sale at top golf resort after legal action launched in US
(DBN)

High Court freezes assets of Seán Quinn's adult children, nephew
(DBN)

______________

Germany:

Kloeckner Pentaplast lines up financing for restructuring plan
(DBN)

______________

Netherlands:

Moody's downgrades ratings of 5 Dutch banks
(DBN)

______________

Canada:

Catalyst seeks another vote
(DBN)

______________

Cyprus:

Cyprus Weighs Russian Loan or a Bailout From Europe
(DBN - NY Times - Paywall Limit Possible)

______________

China:

China Is Desperately Reinflating The Real Estate Bubble
(DBN)

______________

Asia:

Asia-Pacific Bond Risk Falls, Credit-Default Swap Prices Show
(DBN)

______________

Hong Kong:

HK bankruptcy petitions up 18 pct in May vs April
(DBN)

______________

Japan:

The Outrageous Cost Of Living In Tokyo
(DBN)

______________

Australia:

Hastie creditors left out after collapse --- Little hope for creditors as Hastie debts top $600m
(DBN)

______________

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Copyright 2012