June 4, 2012

The Daily Bankruptcy News

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Law:

Dewey Committees for Unsecured Creditors, Former Partners Named --- Dewey Creditors Represented By Legal Recruiter, Car Service --- Dewey & LeBoeuf collapse highlights importance to clients of safeguarding records --- An inside view of Dewey's demise --- Others May Face Dewey Bills --- Dewey ex-partners, creditors to advise on bankruptcy --- Dewey's UK Unit Had $175 Million of Liabilities --- Life after Dewey & Boeuf --- Ex-partners, creditors to advise on Dewey & LeBoeuf bankruptcy --- Dewey Plan To Give Retired Partners a Seat at the Bankruptcy Table?
(DBN)

Firm Represents RG Steel in Chapter 11 Filing
(DBN)

Debevoise, Pepper, Bingham, Dewey, Eversheds: Business of Law
(DBN)

Fallout From Law Firm Failure: Another Court Rules Against Departing Partners
(DBN)

$1,000/Hour Bankruptcies: Attorneys Justify Their Fees
(DBN)

NYLJ 100: Largest Private Law Offices
(DBN)

Lawyer of the Month: May Poll
(DBN)

Legal Sector Eked Out Modest Gains in May
(DBN)

'Light Hero' left clients in the dark, critics say
(DBN)

Balance and Communication Are Key When Name Partners Leave
(DBN)

How to Make Law School Affordable
(DBN)

Law School Defends Lawyer Jobs With Salaries Below Minimum Wage
(DBN)

The Broken Economics of Legal Education
(DBN)

Law School Innovators --- Think of it as a residency for lawyers
(DBN)

Law School Transparency: And the New York Times said law is dead
(DBN)

Firm IT: The RETE's Question: Do You Have An Answer?
(DBN)

BigLaw: Should Large Law Firms Buy and Support iPads?
(DBN)

The Best iPhone And iPad Apps You Missed This Week
(DBN)

The Lawyers of Watergate: How a ‘3rd-Rate Burglary’ Provoked New Standards for Lawyer Ethics
(DBN)

Appeals Court Gives $500K Cash Stash to Heirs of Homeowner Who Hid It in the Walls
(DBN)

How to Detect Photoshop Fraud
(DBN)

Maryland cannibal ranted on Facebook --- Daughter Stunned to Learn of Long-Lost Father --- Zombie Summer: Gruesome cannibal cases in Miami, Texas & Maryland
(DBN)

Trials and Error: The Casey Anthony Case
(DBN)

This Is Why You Never, Ever Accept Facebook Friend Requests From People You Don’t Know
(DBN)

Lawyer Disbarred For Submitting Motions To Court That Were Different From What He Served On Opposing Counsel
(DBN)

Trial Looms in Legal Battle of Actors Kevin Costner and Stephen Baldwin re Oil Spill Cleanup Machine
(DBN)

Will Gardner of "The Good Wife" and Don Draper of "Mad Men" - Talented professionals who hate themselves
(DBN)

Florida judge revokes bond for Trayvon Martin killer
(DBN)

Someone left a cake time records out in the rain . . .
(DBN)

Paralegal Alleges Firm Fired Her For Refusing To Prepare Invoice She Says Was Fraudulent
(DBN)

Man extracted from air duct, arrested for robbery
(DBN)

Cops: Car Burglar Fell Asleep While Trying To Remove Stereo
(DBN)

Cops: Black Man Disguised As Elderly White Man Robs 11 Banks!
(DBN)

Thief Will Have A Hard Time Using This, Um, Item, Without The Charger
(DBN)

Man's appetite for crab legs sparks alleged assault at all-you-can-eat buffet
(DBN)

______________

Judges:

The Punk Rocker Who Would Be Judge
(DBN)

The Supremes
(DBN)

In Blistering Dissent, Judge Mines Deep for Verbal Nuggets
(DBN)

Judges Should Write Their Own Opinions
(DBN)

Federal court security find gun in purse of woman on way to bankruptcy court
(DBN)

The Supreme Court Justices' Shocking Conflicts Could Determine The Fate Of Obamacare
(DBN)

______________

Wall Street:

US Futures Falling, Europe Surging After Huge Selloff In Asia
(DBN)

Japan Stock Futures Drop After US Jobs Data Disappoints --- Tokyo Stocks Hit 28-Year Low
(DBN)

Global Markets Slumping, Investors Flee
(DBN)

Stocks Log Worst Day in 2012; Vix Surges 10%
(DBN)

______________

Layoffs:

Barack Obama attacks Congress over latest low employment numbers
(DBN)

New Jobs Can't Keep Up with Population
(DBN)

Five Reasons Why the Jobs Engine Is Seizing Up
(DBN)

Why the Unemployment Rate Will Fall
(DBN)

Layoffs to Begin Monday at RG Steel
(DBN)

Layoffs Jumped in May
(DBN)

These Are The Reasons US Companies Are Terrified Of Hiring Right Now
(DBN)

The health-care sector is booming. So why are nurses having trouble finding jobs?
(DBN)

US employers waiting and watching before hiring
(DBN)

766,000 More Women Unemployed Today Than When Obama Took Office
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

______________

Oil/Gas:

Gas prices fall below $3 in two states
(DBN)

______________

Municipalities:

California Law Said Unlikely to Avert Stockton Bankruptcy --- Councilman details plan to keep city from bankruptcy --- We need more time to evaluate bankruptcy law --- The power to act --- Wealth of interest in Stockton mediation --- Stockton, Calif. May Be The Next City Driven To Bankruptcy By Bad Management And Unions
(DBN)

Bankrupt cities need help, not more red tape
(DBN)

Ill. legislature dodges pension reform
(DBN)

Bill Ford calls on city, state, not to sugarcoat fiscal reality
(DBN)

Bankrupt Alabama county, creditors extend sewer deal
(DBN)

Paying sky-high public pensions cannot continue
(DBN)

Scranton Faces Tough Decisions --- Recovery Plan calls for tax increases, 'sacrifice'
(DBN)

PA Doesn’t Have an “Act 47″ Problem, It Has a Municipal Finance Problem
(DBN)

CF has new state appointed receiver --- McJennett replaces Flanders --- Central Falls receiver to file recovery plan
(DBN)

State to name Act 47 coordinator for Altoona
(DBN)

City pensions thrust to fore in US
(DBN)

California city's pension vote: a precedent for U.S.?
(DBN)

______________

MF Global:

Report: JPMorgan returns $600M of MF Global funds
(DBN)

Red Flags Were Raised on Client Cash, MF Global Inquiry Is Told
(DBN)

Feds Eye MF's False Promise
(DBN)

CFTC files creditor claim in MF Global bankruptcy
(DBN)

MF Global trustee to report on payback efforts
(DBN)

______________

Religion:

Lawyer rebuffs Crystal Cathedral claim
(DBN)

Crystal Cathedral member wants $30 billion from Catholic Church
(DBN)

Jury Starts Deliberation in Philadelphia Trial Over Concealing Pedophile Priests
(DBN)

______________

Steel:

RG Steel Seeks DIP Loan From WFCF --- Judge holds initial hearing in RG Steel bankruptcy
(DBN)

______________

Economy:

US Creates 69000 New Jobs, Unemployment Rate 8.2%
(DBN)

Unemployment up, federal jobs down, and Europe would sadly trade places
(DBN)

AIG Chief Sees Retirement Age as High as 80
(DBN)

Summers: Governments Should Borrow 'More, Not Less'
(DBN)

Rattner: Economy Not in Danger of Another Recession
(DBN)

Investors Brace for Global Slowdown: El-Erian
(DBN)

US Factory Activity Slows in May --- China Factory Output Slows --- Germany's Manufacturing in Contraction
(DBN)

Global economy at risk as US, Europe and Asia slow
(DBN)

Why US Economy is Stuck in Slow Lane
(DBN)

The Unfunded Liabilities You Love
(DBN)

Debt Up $1.59T Under GOP House—More in 15 Months Than First 97 Congresses Combined
(DBN)

More "Twist" is needed, Fed's Rosengren says
(DBN)

The Fed's "infuriating and inexcusable" failure to stimulate the economy
(DBN)

US Sees a Decline in Millionaires
(DBN)

The Countries With The Densest Millionaire Populations
(DBN)

How 21,000 Wealthy Pay No Income Tax
(DBN)

US Savings Rate Hits Four Year Low
(DBN)

Slowdown worsens as China cools, Europe sinks
(DBN)

World Bank: 'Far from clear leaders ready for impending catastrophe'
(DBN)

'Spring Swoon' Weighs on NACM's Credit Managers' Index for May
(DBN)

Central Banks to hold fire... for now
(DBN)

The 2008 Meltdown And Where The Blame Falls
(DBN)

Dallas Fed data puts 2008 recession, recovery in dim light
(DBN)

Freakish Surge In Social Security Payments Screams Recession
(DBN)

Obamacare's Economic Effects to be Small
(DBN)

The Most Miserable Countries In The World
(DBN)

When The Zombie Apocalypse Hits, Will You Be Ready?
(DBN)

US Debt Clock
(DBN)

______________

Real Estate:

ResCap Creditors Seek to Probe Ally Pre-Bankruptcy Deals
(DBN)

NYC real estate lawyers are still untangling distressed deals, but are also seeing a pickup in “complex” transactional cases
(DBN)

CSI: Housing Bust
(DBN)

Watchdog finds OCC left robo-signing in the dark
(DBN)

Construction spending up 0.3 percent in April
(DBN)

Mastro's bankruptcy saga has taken bizarre twists --- Aging ex-magnate nears 1 year on the lam --- Mastro mystery
(DBN)

Thornburg Mortgage settles with investors, awaits court approval
(DBN)

Meet the Missouri woman who blew the whistle on Citi's mortgage department and won $31 million
(DBN)

Landlord Income Is Going To The Moon
(DBN)

____________

Politics:

Slowdown in Growth Could Reshape Fight for Presidency --- Q&A: Hard times for Obama from economic recovery
(DBN)

Records: Prof profited by buying, selling homes
(DBN)

Warren looks for edge after big win
(DBN)

Ministers skeptical on Elizabeth Warren
(DBN)

Elizabeth Warren's Family Ties
(DBN)

Elizabeth Warren Doubles Down – Says She Will Be MA’s First Native American Senator
(DBN)

Brown, Warren Agree To Senate Campaign Debates
(DBN)

Obama win could cost Romney $5M in personal taxes
(DBN)

Fact Check: Romney misses a mark on Solyndra claim
(DBN)

______________

Autos:

GM outsources pensions, offers lump-sum buyouts --- 42,000 salaried workers eligible; will reduce liabilities by $26B --- To cut about one-fourth of U.S. pension liability --- GM Pension or Lump Sum: Do the Math
(DBN)

Obama's Car Czar Bashes Romney's Auto Rescue Plan
(DBN)

May auto sales disappoint; Demand slows
(DBN)

______________

Aviation:

American Airlines, flight attendants fail to cut costs --- American ‘disappointed’
(DBN)

American Airlines Negotiations Break Down
(DBN)

US Airways' CEO makes case for merging with American
(DBN)

American Airlines, unions, to begin mediation on labor fight this week
(DBN)

Hawker Beechcraft Down, Not Out
(DBN)

______________

Media:

Tribune nears exit from acrimonious Chapter 11 case
(DBN)

______________

Alternative Energy:

Thin-Film Solar Panel Maker Konarka Files for Bankruptcy
(DBN)

Second Romney-Backed Solar Company Files For Bankruptcy
(DBN)

How to Have a Sane Conversation About a Failed Solar Company
(DBN)

Suddenly, Solar Is Super Hot Again
(DBN)

______________

Resorts:

Creditors reject original bid of $7M for Wolf Creek Resort
(DBN)

______________

Hotels:

RLJ Lodging acquires UES Marriott for $82 million
(DBN)

______________

Health Care:

$40M deal done to help medical center
(DBN)

Republicans Propose Cutting Medicaid Provider Tax to Pay for Student Loan Bill
(DBN)

Hearing held for medical center
(DBN)

Patients Are Livid At Hospitals For Rewarding Cash-Payers With Steep Discounts
(DBN)

______________

Banking:

Wells Fargo Would Face 'Spillover' in European Recession
(DBN)

How Morgan Stanley sank to junk status
(DBN)

NERA Projects FDIC Failed Bank Litigation Could Ultimately Total 86 Lawsuits
(DBN)

Merrill Losses Withheld Before Bank of America Deal
(DBN)

Unofficial Problem Bank list declines to 927 Institutions
(DBN)

______________

Fraud:

Gupta's Wealth in Spotlight at Trial
(DBN)

Protege testifies against McKinsey mentor Gupta
(DBN)

Gupta, Rajaratnam Aimed to Start $2 Billion Fund, Kumar Says in Testimony
(DBN)

US judge says prosecutors 'tarring' Rajat Gupta
(DBN)

Goldman CEO Blankfein to Be Witness at Gupta's Trial, U.S. Says
(DBN)

Yankees Fervor Amid Wall Street Turmoil in Rajat Gupta Trial
(DBN)

Confessions Of An Inside Trader
(DBN)

Sentinel ex-CEO, trader indicted for alleged fraud
(DBN)

Ex-Madoff Employee Craig Kugel to Plead Guilty, U.S. Says
(DBN)

2 accused in $500M Illinois financial fraud case
(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 (53 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)

______________

Miscellaneous:

MF Global, Bloxham, Saab, Weavering Capital, Rangers
(DBN)

Rochelle on Mariana Islands Pension Fund, Madoff-Rakoff: Audio
(DBN)

______________

Bankruptcy Statistics:

Bankruptcy filings in South Florida fall for third month
(DBN)

NW OH bankruptcy cases fall for 3rd-straight month
(DBN)

Interactive Bankruptcy Statistics Map
(DBN)

______________

Avoidance Actions:

TOUSA 3.0: Eleventh Circuit Holds Lenders to High Standards
(DBN)

Supreme Court Holds That Debtors Must Permit Credit-Bidding When Selling An Asset Free And Clear Of A Secured Creditor's Lien Under A Chapter 11 Plan
(DBN)

______________

Serial Filings:

One Chapter 11 is Not Always Enough
(DBN)

______________

Litigation:

Federal Cloud Report Advises Legal Holds, Preservation Standards
(DBN)

______________

Celebs:

The Broke and the Beautiful: Judge Approves Settlement Between Madoff Trustee, New York Mets Owners
(DBN)

'OctoMom' turning to stripping: report
(DBN)

______________

Mass Torts:

Mass Torts No Longer King of Dechert's Litigation Focus
(DBN)

______________

Farming:

New farm bill would end direct payments to farmers
(DBN)

______________

Consultants:

Navigant Consulting Sues Stockman Over Forensic Accounting
(DBN)

______________

Corporate Governance:

Dodd-Frank's Say on Pay Rules Pose Triple Threat to Directors
(DBN)

_____________

Predatory Lending:

Is it Literally Impossible to Pay Off a Title Loan?
(DBN)

______________

Defaults:

Leveraged loan default rate hits 14-month high, thanks to Houghton Mifflin
(DBN)

______________

Glass:

Vitro Confronts Bondholders in Bid to Enforce Bankruptcy Plan
(DBN)

______________

Trucking:

O&S Trucking Files For Bankruptcy , Partners with Prime Inc.
(DBN)

______________

Energy:

Dynegy Holdings Settlement Agreement Approved By U.S. Bankruptcy Court
(DBN)

______________

Hedge Funds:

Hedge Funds in Longest Rout Since Global Recession
(DBN)

______________

Retailing:

Betsey Johnson GOB sales feature high payout
(DBN)

______________

Pensions:

Administration to declare Fund emergency
(DBN)

Rep. Dela Cruz: "Put the NMI Government Under a State of Emergency"
(DBN)

AG to review Fund attorney's fees
(DBN)

______________

Food/Beverage:

Adams Produce creditor debt twice its assets, filings say
(DBN)

NRA: Restaurant Industry Outlook Remains Positive
(DBN)

______________

UK:

The UK is praying Spain sorts out its banking crisis
(DBN)

Dare nine men defy the siren call of Christine Lagarde?
(DBN)

Battle Of Britain – Krugman vs. Austerity Proponents
(DBN)

Liquidators used for first time by SOCA to collect tax
(DBN)

Duff & Phelps liquidators win $450m for Weavering Capital
(DBN)

Rangers emails shows correspondence between Craig Whyte and David Grier of Duff & Phelps
(DBN)

______________

EU:

Europe has 3 months to address crisis: Soros --- People Are Going Nuts Over The New George Soros Speech On Europe --- Euro Zone Nears Moment of Truth on Staying Together
(DBN)

The EU's 'beneficial crisis' has spun out of control
(DBN)

ECB may cut rates as eurozone crisis deepens
(DBN)

Europe mulls major step toward "fiscal union"
(DBN)

Blame Game, European-Style
(DBN)

What's Really Behind Europe's Decline? It's The Birth Rates, Stupid
(DBN)

Europe mulls major step towards "fiscal union"
(DBN)

German 2-Year Yield Drops Below Zero as Crisis Deepens
(DBN)

Cyprus next country to seek euro bail-out, president suggests
(DBN)

Euro Stocks Are Cheap–and Getting Cheaper
(DBN)

______________

PIIGS:

Top Italy banker says risk of euro breakup growing
(DBN)

Spain PM insists on sticking to austerity measures --- Spain's faltering leaders --- Spanish: Fly in the ointment --- Spain Is Performing An Incredible Show Of Doublethink --- Spain Jobless Slightly Down in May --- What do you do when half of your country's youth is unemployed? --- Spanish Bonds Rise as Rajoy Seeks Bank Plan
(DBN)

Ireland says Yes to EU fiscal pact
(DBN)

Greece: As electric bills mount, desperate moves to avert blackout --- Moody?s cuts Greek domestic rating ceiling --- Bad loans in banks’ portfolios post worrying rise --- 'Boomerang' By Michael Lewis Makes One Thing Clear About The Greek Crisis - Fraud
(DBN)

Portugal passes latest bailout test --- Portugal's Biggest Banks to Get $8 Billion in Bailout
(DBN)

______________

Germany:

No buyers for Germany's bankrupt 2800-drugstore chain Schlecker
(DBN)

______________

BRICS:

Brazil`s economy disappoints again in first quarter
(DBN)

The Indian Economy Is A Wreck
(DBN)

______________

China:

China’s Stocks Fall Most in 6 Months on Services, U.S. Jobs Data
(DBN)

Understanding the China Slowdown
(DBN)

______________

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Copyright 2012