March 21, 2012

The Daily Bankruptcy News

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Law:

It’s the First Day of Spring: Has Sullivan & Cromwell Officially Lied About Spring Bonuses?
(DBN)

Spring Has Officially Sprung. Now, About Those Bonuses...
(DBN)

Chambers Global Bankruptcy Firm Band Rankings
(DBN)

Bye-Bye Big Firm
(DBN)

Why Americans Need to Work Less (Lawyers, You Too)
(DBN)

Does Due Process Get in the Way of Justice?
(DBN)

Law firms lose one defense against Ponzi scheme class actions
(DBN)

A 130-Year-Old Contract That May Hold Water
(DBN)

Litigator O'Donnell cast out of Central District of California bar
(DBN)

Former Solicitor General Sees Some Parallels Between ‘Mad Men’ and His Early Days in Law
(DBN)

Taylor Bean, JPMorgan, RBC, Apple, Morgan Stanley in Court News
(DBN)

ABA Won’t Ask Law Schools to Report Grads’ Salaries
(DBN)

Law-School Jobs Data Under Review
(DBN)

LSAT Test Takers Decline; Is Law School Tuition Bubble Bursting? --- Could Spell ‘Death Spiral’ for Bottom Law Schools
(DBN)

Law School Transparency: All down the line
(DBN)

We Don’t Care About Your Credentials, But That’s Probably Because We Can’t Pay You
(DBN)

Lawyers with Public Company Clients: The end is near
(DBN)

Orange: A Color That Can Get You Fired --- Ho Hum. So a Law Firm Fired 14 Workers for Wearing Orange Shirts
(DBN)

The traditional law firm's "over-leverage model is an anachronism"
(DBN)

Chadbourne & Parke WTC deal is ‘dead’
(DBN)

Advice for lawyers new to the iPad
(DBN)

"Obnoxious" Shirtless Florida Karaoke Singer Allegedly Assaults Applebee’s Employee
(DBN)

Illinois Police Sergeant Close To Reaching Minimum Amount Of Flair Charged With DUI
(DBN)

Are ‘Stand Your Ground’ and ‘Defense of Home’ Laws Racist?
(DBN)

Thoughts from Marty Lipton: Merger Activities
(DBN)

U.S. lacks 'proof' on Afghan shooting-suspect's lawyer --- Fall Guy --- Lawyer makes travel plans to Afghanistan --- Karzai calls American troops 'demons' --- Soldier's lawyer known for `humanizing' clients
(DBN)

DA’s Office Can’t Ethically Hire Receptionist Laid Off By His Former Law Firm, Panel Says
(DBN)

States Mull Possible Law to Ban Public Employers from Asking Applicants for Facebook Password
(DBN)

Despite Lack of Law License, Bartender Practiced from 1998 to 2011
(DBN)

Chicago Police Arrest Two Journalists For Willful Commission of “Whatever”
(DBN)

Third-grader gets jury summons
(DBN)

A West Texas David Lynch Tale
(DBN)

Fake Virus Extortion Ordeal Had Millionaire Fearing for Her Life
(DBN)

Man Jailed for Siding Code Violation
(DBN)

China orders lawyers to pledge allegiance to Communist Party
(DBN)

3 more tied to NYC madam case as arrests emerge
(DBN)

Bloomberg: no food donations to homeless shelters
(DBN)

Mug Shots
(DBN)

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Judges:

West Tenn. Bankruptcy Judge Retires
(DBN)

Judges' words can speak as loudly as actions
(DBN)

Last day surprise for U.S. District Judge: A call from a former law professor and former leader of the free world
(DBN)

Supreme Court should remain free of TV cameras
(DBN)

How the Historic Supreme Court Health-Care Arguments Will Unfold
(DBN)

Factbox: Health benefits Americans may lose in court ruling
(DBN)

Health care law's defenders look to George Washington
(DBN)

Appeals Court Rebukes Judge for Dismissing a Dozen Cases Because Prosecutor Was Late
(DBN)

Judge Says City Retaliated with Residency Probe When She Questioned Possible Age Bias
(DBN)

Appeals Court OKs Summary Contempt Ruling re Lawyer Sentenced to 90 Days for In-Court Diatribe
(DBN)

Kumbaya Is a Crummy Song Anyway
(DBN)

Supreme Court Examines Roles of Jury and Judge in Setting Fines
(DBN)

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Wall Street:

US Stock Futures Climb Before Existing House-Sales Data
(DBN)

Stocks decline on worrisome signs from China --- Stocks tumble on global growth worries
(DBN)

Mining companies' shares drop on China concerns
(DBN)

It was you, Dear Shareholders, that ruined Goldman Sachs
(DBN)

7 Harvard Business School Students With Experience At Goldman Sachs Respond To Greg Smith's Letter
(DBN)

Goldman's God problem goes away, for now
(DBN)

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Layoffs:

Why 3.5 Million Job Openings Isn't Great News
(DBN)

Layoffs Watch ’12: JPMorgan
(DBN)

Vets face another battle: Finding a job
(DBN)

Nannies For New York's Super Rich Are Earning More Than $180,000 A Year
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

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Aviation:

American mechanic's wife tells bankruptcy judge airline should change its name if it layoffs thousands of American workers
(DBN)

AMR Favors Court-Structured Labor Talks
(DBN)

American Eagle to tell unions of cutbacks, changes and strategy
(DBN)

Fort Worth hires attorney to handle American Airlines bankruptcy
(DBN)

Horton dangles growth and new jets in front of pilots
(DBN)

Brundage: Proffer request either 'intentionally misleading or extraordinarily political'
(DBN)

Embraer Books Net Loss On AMR Bankruptcy
(DBN)

Troubled Pinnacle Airlines gives top two executives big pay hikes
(DBN)

Air Canada faces challenges from Aveos, pilots
(DBN)

Aveos fires all its employees --- Will Liquidate --- Montreal police move in on protesting Aveos workers
(DBN)

1000 Aveos jobs may survive
(DBN)

Repair work will be done: airline
(DBN)

Kingfisher Airlines countdown to bankruptcy
(DBN)

India's Kingfisher to halt international flights
(DBN)

Hawker Beechcraft's debt crisis
(DBN)

______________

Oil/Gas:

Delta Petroleum Corporation Seeks Bankruptcy Court Approval to Amend Bid Procedures --- Amends sale plans to seek plan sponsors, bidders
(DBN)

Former Russian minister to bid for Petroplus plants
(DBN)

Is North America the Next Middle East for Energy?
(DBN)

Lagarde warns of 30% oil spike
(DBN)

______________

Banking:

Four years later, the end of WaMu, but not the questions
(DBN)

Sheila Bair Thinks Stress Tests Missed The Point
(DBN)

FDIC revisits contracts of failed financial firms
(DBN)

No Access, No How? -- One thing the FDIC loathes is a fair shot at mounting an effective defense
(DBN)

Bank of America's Guy Quits as Co-Head of Distressed
(DBN)

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Food/Beverage:

Soy Co-Op Files for Chapter 11 After FDA Recalls
(DBN)

How To Spot Fraudulent Ratings On Seamless
(DBN)

______________

Retailing:

CDS market sees trouble ahead for Best Buy
(DBN)

______________

Coal:

Appalachian Coal Fights for Survival on Shale Boom
(DBN)

______________

Distressed Investing:

Bankruptcy 'Double Dip'
(DBN)

______________

Economy:

Money-Printing Era May Be Ending: Fund Manager Survey
(DBN)

More Easing ‘More Likely Than Not’: Goldman Economist
(DBN)

House GOP Budget Slashes Taxes, Benefit Programs --- Ryan: Slash Another $5.3 Trillion --- What Paul Ryan’s budget actually cuts — and by how much --- Ryan’s tax plan: $6.2 trillion short --- Mystery Meat Budget --- Two tax brackets: 10% and 25% --- The First, Obvious Problem With Paul Ryan's Radical Tax Plan --- 5 Good Ideas in Paul Ryan's Budget --- Something Big Missing From This Paul Ryan Chart On The National Debt --- Unrealistic assumptions behind Paul Ryan’s budget numbers --- GOP Medicare plan borrows from and repeals Obama's
(DBN)

U.S. Economic Confidence Volatile From Week to Week
(DBN)

Report: Just $31B from Buffett rule tax on rich
(DBN)

Cut spending much more deeply, House GOP plan says
(DBN)

Geithner To Answer Questions In Lehman, JP Morgan Court

Bernanke warns of possible European 'contagion' --- Fed Is Ready to Act If Europe Falters Again: Ben Bernanke
(DBN)

U.S. manufacturing may be in even more trouble than you think --- Throwing cold water on the U.S. manufacturing rebound
(DBN)

Buying equity in people -- The Startup is You
(DBN)

Your chance of winning the lottery jackpot is zero
(DBN)

US Debt Clock
(DBN)

______________

Real Estate:

As confidence grows, US builders request permits
(DBN)

Can MBS investors block national mortgage deal via litigation?
(DBN)

How Walker hijacked foreclosure settlement
(DBN)

Why Rise in Mortgage Rates May Not Hurt Housing
(DBN)

Previously Owned US Home Sales Probably Climbed
(DBN)

Banks, Government Pushing Home Refinancing
(DBN)

The Wall Street gold rush in foreclosed homes
(DBN)

The fake housing recovery
(DBN)

First and second mortgage default rates fall again in February 2012
(DBN)

The Fed Is About To Fine A Bunch Of Banks That Weren't Involved In The $25 Billion Foreclosure Settlement
(DBN)

Main Street’s Case Against Wall Street Landlords
(DBN)

Decoding the ‘Pause’ for Builders
(DBN)

The one number to watch for a housing recovery
(DBN)

Builders betting on brighter housing market this year
(DBN)

No presidential fix for housing crisis
(DBN)

Houston housing inventory shrinks to lowest level since 2008
(DBN)

Bizarre Oregon foreclosure law finally off the books
(DBN)

Recent decisions on non-recourse carve-outs in CMBS loans
(DBN)

Grubb brokers object to bankrupt firm’s push not to compensate them for commissions
(DBN)

Federal Reserve Plans To Fine Eight Banks On Foreclosure Abuse
(DBN)

Ex-Taylor Bean CFO De Armas Pleads Guilty to Aiding $3 Billion Bank Fraud
(DBN)

What To Do With Vacant Houses
(DBN)

Why Apartment Construction is Booming
(DBN)

_____________

Alternative Energy:

US sets duties on solar panels from China --- Son of migrant workers, now solar CEO: Don't put tariffs on Chinese solar panels
(DBN)

Steven Chu defends alternative-energy policies
(DBN)

Issa Report Uncovers Fraud in DOE Loans
(DBN)

______________

Fraud:

Madoff's secret prison letters: Blaming "sophisticated" investors, masterful dissembling --- Bernie Madoff Was Just Trying To “Change The Way Money Was Managed,” Not That Anyone Cares
(DBN)

Picard comes up short
(DBN)

Lo$$ of faith in Picard
(DBN)

Hoist By His Own Picard
(DBN)

Foe of Madoff trustee Irving Picard says Mets’ deal won’t help others with clawback cases
(DBN)

Former IRS agent sentenced to prison in investment scam
(DBN)

Inside the Mets' Madoff Payout
(DBN)

Mets Owners May Not Pay Any Money in Madoff Settlement Amid Own Loss Claim
(DBN)

Law firm seeks $475k in FRM case fees
(DBN)

Does Hecker still have some stock socked away?
(DBN)

JPMorgan wins dismissal of Ponzi scheme accusations
(DBN)

Leahy, Grassley Urge Senate Leaders to Strengthen Insider Trading Bill
(DBN)

Ex-Carter’s President Indicted for Fraud, Falsifying Records
(DBN)

______________

Tax:

IRS forms "SWAT team" for tax dodge crackdown --- IRS policies help fuel tax refund fraud, officials say
(DBN)

Tampa's tax fraud epidemic gets national scrutiny
(DBN)

Millions In Tax Credits For Low Incomer Earners Left On The Table
(DBN)

IRS Flags Almost 2 Million Returns for Fraudulent Tax Refunds
(DBN)

Mocked and broke: Houston-based TaxMasters files for bankruptcy
(DBN)

TaxMasters bankruptcy leaves clients in the lurch
(DBN)

Apple: We'll bring $60B in overseas profits to the U.S. after you give us a tax break
(DBN)

______________

Student Debt:

Durbin Urges Private Student Loans Be Discharged in Bankruptcy
(DBN)

______________

Software:

CDC Wins Approval of $250 Million Unit Share Sale to Vista
(DBN)

______________

MF Global:

MF Global administrator KPMG sees litigation ahead
(DBN)

MF Global Debt Trades Total $11 Million Last Month, Report Shows
(DBN)

Panel to vote to subpoena MF Global treasurer
(DBN)

MF Global's Collapse Still Hurts Little Guy On Main Street
(DBN)

______________

Publishing:

Houghton Mifflin Hires Advisers on Restructuring Debt
(DBN)

______________

Religion:

Charles Street AME Church to file for bankruptcy --- Church stops bank 'dead in its tracks'
(DBN)

Diocese Will Use Mediator in Lawsuit Against Church ‎
(DBN)

______________

Debt Collection:

Suit lays bare JPMorgan card collection woes
(DBN)

______________

Education:

Cal State Plans to Freeze Enrollment
(DBN)

______________

Compensation:

Overpaid CEO's are exploiting capital, not labor
(DBN)

______________

Protests:

The tears were flowing at Occupy Wall Street
(DBN)

Bklyn protesters rip foreclosure hearing
(DBN)

______________

Telecoms:

Nortel wins dismissal of some claims to its $9 billion
(DBN)

______________

Shipping:

Why Nobody Is Talking About The Baltic Dry Index Anymore
(DBN)

______________

Defaults:

Sovereign, Corporate Bond Risk Falls, Credit-Default Swaps Show
(DBN)

______________

Lehman:

Ex-Lehman Director to Appear in Court on Second Forgery Charge
(DBN)

______________

Corporate Reform:

CFPB Privilege Waiver Proposal Raises Questions and Concerns
(DBN)

Citi/Rakoff case: How much deference do courts owe the SEC?
(DBN)

We Now Know With Near-Certainty That Wall Street Execs Committed Felonies
(DBN)

America the Fixable - Obsolete Laws Clog The System
(DBN)

______________

New Bankruptcy Opinions
(No new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (35 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:

Arcapita, WorldSpreads, Elpida, Humpuss Sea
(DBN)

Rochelle on NY Mets-Madoff, Arcapita, Chrysler
(DBN)

Weil Comparative Guide to Restructuring Procedures
(DBN)

______________

Bankruptcy Statistics:

Interactive Bankruptcy Statistics Map
(DBN)

______________

Claims Trading:

February 2012 Claims Traded Monthly
(DBN)

______________

Insiders:

Seventh Circuit Holds Minority Member of LLC Liable As Statutory Insider
(DBN)

______________

Photography:

Kodak retirees seek own bankruptcy committee
(DBN)

Motion to cut Kodak retiree health benefits put on hold
(DBN)

______________

Municipalities:

Jefferson County: To Save A Mockingbird
(DBN)

JPMorgan Claims No. 1 for Government Debt After Jefferson County
(DBN)

Mich. judge puts Detroit review team on hold --- Judge adds new hurdle for Detroit consent deal
(DBN)

Mich. emergency manager push suffers setbacks
(DBN)

Fresno: The ‘B’ word is possible
(DBN)

Harrisburg, Pa. moves closer to sale of city incinerator --- Morgan Stanley Among Firms Allowed to Bid in Harrisburg
(DBN)

Junction City asks state help on debt load
(DBN)

Cash-Strapped Nassau County Goes After 19 School Districts With 'Toilet Tax'
(DBN)

Woonsocket: Mayor may ask unions to take 10% cut
(DBN)

Saving Providence: Raise taxes or go bankrupt?
(DBN)

Municipal Defaults — Already 21 in 2012 — Another Blow for Bond Insurers
(DBN)

______________

Litigation:

U.S. class action lawyers look abroad
(DBN)

Do Novel Document Review Methods Demand Disclosure?
(DBN)

Isn't There a Proverb About Excessive Footnotes?
(DBN)

______________

Cross-Border:

U.S. Bankruptcy Court Halts Lawsuits Against Japan's Elpida
(DBN)

______________

Insurance:

D&O Insurance: Protecting Directors and Officers Before, During and After Financial Reorganization
(DBN)

Banks Suing N.Y. Over MBIA Restructuring Won’t Seek Jury
(DBN)

______________

Health Care:

No ruling yet on Christ Hospital sale
(DBN)

Auction to select new owners of Christ Hospital reconvenes
(DBN)

Q&A: U.S. healthcare: What would Republicans do?
(DBN)

10 Ways To Visualize How Americans Spend Money On Health Care
(DBN)

______________

Energy:

Plot Thickens at Dynegy as Seneca Sells
(DBN)

______________

Management:

Why Top Talent Leaves: Top 10 Reasons Boiled Down to 1
(DBN)

______________

History:

This Is What Life Was Like Under The Gold Standard
(DBN)

Meet The Robber Barons Who Once Ruled America
(DBN)

______________

Politics:

Poll Shows Elizabeth Warren Leading Scott Brown ‎
(DBN)

Elizabeth Warren Is Up, but How Up, Really? ‎
(DBN)

Santorum: "I don't care what the unemployment rate is going to be..."
(DBN)

Condoleezza Rice rejects Mitt Romney vice presidential possibility
(DBN)

Newt Gingrich in debt --- Newt Gingrich's twin campaigns
(DBN)

Why Republicans Still Don't Like Mitt Romney
(DBN)

Why the CEO of GE is going to stab Obama in the back
(DBN)

WHOA, CANADA:
(DBN)

______________

Mail:

Postal Service: We need more junk mail
(DBN)

______________

Baseball:

Dodger Stadium could be renamed
(DBN)

______________

Orchestras:

Financial reality shapes Louisville Orchestra viability plan
(DBN)

______________

IP:

The Kodak Bankruptcy: Why Intellectual Property Licensees Should Pay Close Attention to Kodak's Planned Auction Sale
(DBN)

Creditor seeks $500-a-day fine against Righthaven
(DBN)

______________

UK:

Call for action on insolvency rules
(DBN)

Fourth bid comes in for Rangers
(DBN)

Nationwide is latest to restrict access to interest-only loans
(DBN)

U.K. Budget Deficit Doubles as Taxes Fall, Spending Jumps
(DBN)

Osborne Must Find 5 Billion Pounds to Fund UK Budget Giveaways
(DBN)

Recovery in Britain will be 'slow and painful', leading Bank of England official warns
(DBN)

______________

EU:

Germany Loses Bid for Financial Transactions Tax
(DBN)

______________

PIIGS:

Insurance Pays Off in Greece
(DBN)

Greece receives first 7.5 bn euros in new bailout --- Greece?s Parliament approved new loan deal --- Greece unlikely to avoid third bailout
(DBN)

One-Third of Greek Land on Sale
(DBN)

Rescue Creditors: Greece May Miss Debt Target
(DBN)

Spain May Take Stakes in Unprofitable Toll Roads
(DBN)

Eircom in default over debt, says derivatives association
(DBN)

Portugal to Follow Greece: Roubini's Das
(DBN)

______________

Germany:

Solarhybrid says to file for insolvency
(DBN)

______________

MENA:

Arcapita: sharing the pain around
(DBN)

Declaration of bankruptcy in UAE: Who, when and how?
(DBN)

Dubai Villa Sales Surge
(DBN)

______________

Vatican:

Vatican Bank faces fresh controversy
(DBN)

______________

Denmark:

Danish FSA Tells Bank Boards to Wise Up as 50% Fall Short
(DBN)

______________

New Zealand:

'Marmageddon' fears
(DBN)

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Copyright 2012