March 6, 2012

The Daily Bankruptcy News

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Law:

Hourly Billing Rates Continue Upward Climb; Partner and Senior Counsel Average Is $661
(DBN)

Second Circuit: Rule on Attorney ‘Specialists’ Is Unconstitutional
(DBN)

Spring Bonuses at Cravath?
(DBN)

Bonus Watch: Paul Hastings
(DBN)

The Am Law 200's Leaders and Losers In Lateral Hiring Through First Two Months of 2012
(DBN)

Dewey Cost-Cutting Prompts Departures
(DBN)

The Mounting Costs of Internal Investigations
(DBN)

Dewey & LeBoeuf to Lay Off Lawyers and Staffers
(DBN)

Kramer Levin Names New Bankruptcy Partner
(DBN)

Millstein hires veteran restructuring lawyer --- Jane Vris Goes Inhouse
(DBN)

Bankruptcy Lawyer Named To McPier Board
(DBN)

Revenue, Profits Dip at Kasowitz Benson
(DBN)

Lehman bankruptcy's legal tab: $1.6 billion
(DBN)

Does ‘For Euer’ Mean ‘Forever’? The Battle Over a Very, Very Old Will
(DBN)

Next Pension Clash: Law Firms
(DBN)

Who Represents Whom? Jury Returns $1.29 Million Verdict Against DLA Piper
(DBN)

Law Firm Lawsuit-Palooza
(DBN)

Setting, Earning, and Keeping Fees in Small Law Firms
(DBN)

Dads on Paternity Leave Are Slackers at Home
(DBN)

Madoff-New York Mets, BNY Mellon, UBS, JPMorgan, Facebook in Court News
(DBN)

7 Business Apps To Travel Smarter
(DBN)

US Firms Waiting for Starting Gun in Race to South Korea
(DBN)

Loughner’s Forced Psychiatric Drugging by Prison Doctors Upheld on Appeal
(DBN)

Facebook Claimant to Be Represented by Milberg Law Firm in Federal Suit
(DBN)

Attorney Sues TV Station for $1.4M, Says It Didn’t Forward All Calls to His ‘Ask the Lawyer’ Show
(DBN)

Law Student Helps Develop Crime Reporting App that Could Be Adapted for Schools
(DBN)

A Top Law School Tells a High-End Fashion House Where to Stick Its Cease and Desist Letter
(DBN)

Law School Transparency: Methods, sound and unsound
(DBN)

The Latest in Disingenuous Statistics From a Law School No Longer Concerned With Its Credibility
(DBN)

2011 Moot Court Rankings
(DBN)

2L Charged With Murder: A Case of Student v. Townie Rage?
(DBN)

Lawyers Hit Jackpot at Consumer Electronics Show in Las Vegas
(DBN)

Dahmer Tours Proceed Despite Protests From Victims' Families
(DBN)

Handwritten Journals of Lizzie Borden’s Lawyer Reveal New Details About Infamous Murder Trial
(DBN)

Road Rage Video Footage of Crazed Taxi Driver
(DBN)

Girl Dressed as Boy: Jailed for Cruel Hoax
(DBN)

Nurse Accused Of Killing Dialysis Patients With Bleach IVs
(DBN)

Mom Takes Job with Lawyer to Help Son Win Reversal of Capital Murder Conviction
(DBN)

Cops: Janitors Bound, Gagged Boys in School Bathroom
(DBN)

No one caught on
(DBN)

Moviegoer Files Class Action Lawsuit Over High Cost Of Food and Drinks At Theaters
(DBN)

Wedding photographer sued for allegedly putting doctored picture on Web
(DBN)

Say What?!
(DBN)

______________

Judges:

Confessions of a 64-Year-Old Rookie Trial Judge
(DBN)

Kagan Opinion Hits Government ‘Inventiveness’ on Substitute Counsel Standard
(DBN)

At Catholic Conference, Scalia Talks About Possibility of Miracles
(DBN)

Judge Can't Encourage No Stinking Badges
(DBN)

Biggest Court in Nation Cuts Operations in 'Crippling Blow'
(DBN)

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Wall Street:

Stock futures lower on China, Greece worries
(DBN)

World Stocks Slip On China Growth Worries
(DBN)

Stocks sharply lower on China concerns
(DBN)

Why some investors worry about Dow 13,000
(DBN)

Goldman on Conflicts? We’ll Manage
(DBN)

Goldman’s Asia Unit Lost Money First Time Since 2008 on Soured Stock Bets
(DBN)

A Mysterious Trader Dropped Almost $200K On A Huge Bottle Of Champagne At A Liverpool Club And Shared It With Everyone
(DBN)

Wall Street's Bonuses Fell 25 Percent in 2011
(DBN)

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Layoffs:

Apple: We created 514,000 jobs --- Data Spurs an Economic Debate
(DBN)

Economists Expect More Than 200,000 Jobs Created Last Month
(DBN)

More than 200 Peninsula Hospital employees get pink slips
(DBN)

Yahoo is reportedly about to lay off thousands of workers
(DBN)

Shaky credit reports could hurt some job applicants
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

______________

Aviation:

American eyes new route out of bankruptcy
(DBN)

American Airlines Union President Sees Future Without Pensions
(DBN)

American and its unions show little progress
(DBN)

Court to take up issues of committees representing retirees, ex-TWA pilots
(DBN)

American Airlines traffic rises 6 percent in Feb. --- Boost in traffic highest in years --- American Eagle's Feb. traffic soars 18.9 percent
(DBN)

Orbitz owner and American Airlines extend agreement
(DBN)

Pemco World Air Services Files for Bankruptcy to Sell Assets --- Secures DIP Financing
(DBN)

Pinnacle CFO Announces Resignation
(DBN)

Air Australia was running on fumes
(DBN)

_____________

Municipalities:

Stockton, California's impact on muni landscape
(DBN)

Introducing the 'Greece' of Central California
(DBN)

Birmingham judge clears way for record bankruptcy by Alabama’s largest county
(DBN)

Santa Ana Steps Back From the Brink
(DBN)

Hercules, Calif. to avoid bankruptcy-city manager
(DBN)

Bankruptcy on the table in Woonsocket
(DBN)

America's most miserable states
(DBN)

Which is America's Best City?
(DBN)

______________

Lehman:

Lehman Brothers to boost the market?
(DBN)

Lehman, Holdout Swiss Unit Face Off In Bankruptcy Fight
(DBN)

______________

MF Global:

Don’t Expect MF Global To Lead To Legislation, CME Tells Analyst
(DBN)

MF Global trustee seeks to toss employee lawsuit
(DBN)

What Happened At MF Global ?
(DBN)

______________

Alternative Energy:

Electric-Car Loans Dry Up Ahead of Election on Solyndra
(DBN)

Solar Millennium Chairman Withag to Resign Following Insolvency
(DBN)

______________

Personal Finance:

This Woman Has Lived Without Money For 16 Years
(DBN)

______________

Pensions:

U.S. Pension Assets Gained 16.4% in 2011
(DBN)

______________

Economy:

Service sector expands at fastest pace in year --- Services Gauge in US Unexpectedly Climbs
(DBN)

Factory Orders Weren’t So Hot
(DBN)

Four in 10 Americans Now Say Economy Is Growing
(DBN)

AP survey: More optimism about US jobs and economy
(DBN)

The Rich Get Richer: 2010 Was a Very Good Year to Be in the 1% --- In 2010, 93 percent of income gains went to the top 1 percent --- The One Percent Bounce Back
(DBN)

How The 1 Percent And The 99 Percent Are Doing, In 1 Table
(DBN)

Fisher Says Investors Should Prepare for Less Fed Easing as Data Improve
(DBN)

Slowing China aids global economic rebalancing
(DBN)

Billionaires Index, a new daily list of the world's richest people --- Bloomberg Makes It Easier to Hate Billionaires --- How Forbes Let Bloomberg Take Over Their Richest People List --- Look What Happened The Last Time A Website Had A Real-Time CEO Wealth Meter
(DBN)

Two Economists Debunk The Theory That Inequality Caused The Financial Crisis
(DBN)

Poll: Most Don't Want Social Security Cut
(DBN)

Pump prices rise for 27th straight day --- Are speculators to blame for soaring gas prices? --- The Ghost of Enron Past Explains Oil Market Manipulation --- The World's Biggest Oil Reserves
(DBN)

The plight of Andrew Schiff
(DBN)

Obama's overseen a bigger cut to government spending and employment than Reagan
(DBN - NY Times - Paywall Limit Possible)

Documentary filmmakers try to get gov't funding for 'Museum of Government Waste'
(DBN)

National debt: Washington's $5 trillion interest bill
(DBN)

Economy Tracker Map
(DBN)

US Debt Clock
(DBN)

______________

Real Estate:

Fitch sees home prices as overvalued with potential for another 9.1% drop
(DBN)

Existing Home Inventory declines 21% year-over-year in early March
(DBN)

Current Mortgage Rates for Monday, March 5, 2012
(DBN)

Meet the couple who've lived in a million-dollar home for 5 years without ever making a mortgage payment
(DBN)

Court sides with Nevada in BoA foreclosure case
(DBN)

Credit Suisse gets no Janus protection in New Century SJ ruling
(DBN)

No Federal Jurisdiction of Bank of America Lawsuit
(DBN)

Economic downturn slams American West
(DBN)

When Big Box Retailers Move Into The Neighborhood, It Could Be Time To Buy A House
(DBN)

No Mortgage Deal but Banks get Free Pass
(DBN)

Hope Now: Mortgage mods in January down 27% from year ago
(DBN)

Moral Compass Spinning Wildly
(DBN)

REO rental program to capture 20% of foreclosure pipeline
(DBN)

Fourth-Quarter 2011 Shadow Inventory Update: Overall Declines Mask Big Regional Differences
(DBN)

Bank practices cause register of deeds offices to be flooded with fraudulent documents
(DBN)

Mortgage fraud reports swell 20% in third quarter
(DBN)

CMBS Delinquency Rate Down In February
(DBN)

Hey Goldmanites: You Can Buy This Sweet Apartment Just A Short Walk From Your Office For $18 Million
(DBN)

1-BR, $1,000: Rent Control In Court Test
(DBN)

_____________

Mass Torts:

BP Shares Gain on Gulf of Mexico Spill Settlement --- BP Clears A Hurdle, But Don't Jump Into The Stock Yet --- Gammel Says Federal, State Claims May Limit BP Gains --- BP's big opponents may blink next --- BP claims process to change
(DBN)

Settlement process could delay BP trial
(DBN)

Judge Frees Travelers From Big Payout for Manville Asbestos Creditors
(DBN)

______________

Newspapers:

Confirming Wall Street's Misgivings About Newspapers
(DBN)

A silver lining in the bad news about newspapers
(DBN)

______________

Banking:

United Western Bancorp Begins Voluntary Chapter 11 Reorganization
(DBN)

Murphey named trustee in Citizens Corp.'s Ch. 11
(DBN)

Why Banking Chiefs Shouldn't Tell Jokes
(DBN)

Video Spoof About Breaking Up Bank Of America And Merrill Lynch
(DBN)

______________

Fraud:

Stanford Jury Deadlocked But Told to Keep Deliberating
(DBN)

U.S. Judge Clears Way for Madoff-Mets Trial --- Judge: Mets Owe Up to $83M to Madoff Trustee --- Silver Lining in N.Y. Mets Court Ruling Is Team May Pay Just $30 Million --- Reading Between The Lines Of Judge Rakoff's Ruling --- Judge "Skeptical" But Does Not Dismiss Claims Against Mets' Owners --- No Surprise In Mets' Court Decision
(DBN)

Justice Can Still Be Done in Bear Stearns Case
(DBN)

Nadel victims closer to recouping some of their losses
(DBN)

Insider trading: How hedge funds look for an edge ‎
(DBN)

Ex-Millennium Global Manager Michael Balboa Indicted in Bond Fraud Case
(DBN)

FDA Chemist Liang Sentenced to Five Years Prison in Insider-Trading Case
(DBN)

Why the Libor Fraud Case Matters to You
(DBN)

Fraud: A Boomer Growth Industry
(DBN)

The Sad Truth About Why Seniors Are Prime Victims For Fraud
(DBN)

______________

Corporate Reform:

Treasury Is Seeking Right Balance in Volcker Rule, Miller Says
(DBN)

Consumer Bureau targets student loan abuses
(DBN)

CFPB Now Taking Complaints About Checking, Savings Accounts ‎
(DBN)

______________

Photography:

Kodak to Apple: Bring It On!
(DBN)

______________

Hedge Funds:

Hedge Funds Still Building Assets, Despite Weak Performance
(DBN)

Investors Start To Lose Faith In Hedge Funds
(DBN)

______________

Corporate Governance:

Martin Marietta and Vulcan Face Off — What’s a Judge to Do?
(DBN)

El Paso Delays Shareholder Vote, But Early Tally Shows Approval Likely
(DBN)

As an Adviser, Goldman Guaranteed Its Payday
(DBN - NY Times - Paywall Limit Possible)

Shareholders Seem Unfazed By Evildoing In Kinder Morgan – El Paso Deal
(DBN)

Does California’s ‘Business Judgment Rule’ Shield Officers Too?
(DBN)

More Shareholders Demanding Corporate Political Transparency
(DBN)

______________

Turnarounds:

Exco Resources Names Wilbur Ross to Its Board
(DBN)

______________

Derivatives:

CDS Roulette: Long-Term Implications Of Greece And ISDA
(DBN)

Credit-Default Swaps in U.S. Rise After China Cuts Growth Target
(DBN)

Greece Debt Insurance Costs At Fresh Record On PSI Concerns
(DBN)

______________

Student Debt:

Student Debt in U.S. Rises to $867 Billion --- Student Loan Delinquency Reached $85 Billion in Third Quarter
(DBN)

Private Student Loans Got You Down? Tell the CFPB
(DBN)

Even senior citizens have student debt
(DBN)

The Rapidly Growing Student Loan Problem
(DBN)

Fed Study of Student Debt Outlines a Growing Burden
(DBN)

______________

Food/Beverage:

Giordano's names new CEO, CFO
(DBN)

Hostess, Teamsters put off trial on union contracts
(DBN)

______________

Religion:

Clergy-abuse reporting under fire from DAs ‎
(DBN)

______________

Shipping:

Oil-Tanker Returns Fall Most in a Month as Ship Surplus Expands
(DBN)

______________

New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (89 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (7 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:

Blitz, Vitro, Hostess, Kodak, Madoff, Manville
(DBN)

Rochelle on Madoff, Grubb & Ellis, Hostess, Kodak
(DBN)

______________

Bankruptcy Statistics:

"Normal' adjusts in bankruptcy filings in WD NY
(DBN)

Phoenix-area bankruptcies rise in February
(DBN)

Interactive Bankruptcy Statistics Map
(DBN)

______________

Property of the Estate:

Delaware Bankruptcy Court Holds Debtor’s QSub Tax Status Is Property of the Estate
(DBN)

______________

Exit Strategies:

Structured Dismissals: Case Studies
(DBN)

______________

Jurisdiction:

Defanging Stern v. Marshall: The United States District Court for the Southern District of New York Modifies the Reference of Bankruptcy Matters to Address Issues Resulting from the Supreme Courtýs Ruling
(DBN)

______________

Accounting:

Stress tests may shed light on Wall Street's 'mark-to-make-believe' accounting
(DBN)

______________

Tax:

Swiss lawmakers vote to accept U.S. tax plan
(DBN)

Tax Hunt Pushes Global Wealthy Into Offshore Trusts for Children in U.S.
(DBN)

The NFL Still Has Tax-Exempt Status
(DBN)

Here's How The IRS Plans To Track Secret Offshore Accounts
(DBN)

______________

Baseball:

Bryan Stow lawyers reject Dodgers' bid to resolve bankruptcy claim
(DBN)

______________

Autos:

Romney criticizes Obama's handling of Delphi retirees
(DBN)

______________

Celebs:

Ex-Mets Player Lenny Dykstra Given Three-Year Prison Term
(DBN)

Former Chicago Bears quarterback Bob Avellini files for bankruptcy
(DBN)

______________

Politics:

Third poll shows Brown ahead of Warren in Massachusetts
(DBN)

Democratic jitters in Mass. Senate race
(DBN)

Warren, Brown pick up big-name endorsements
(DBN)

New Yorker Cover: Santorum Rides on Romney’s Car Roof
(DBN)

Romney Should Call For Breaking Up America's Biggest Banks
(DBN)

______________

Utilities:

ECP Board Continues to Fight High Legal Fees in Bankruptcy Case
(DBN)

Co-ops replace 2 of Southern's trustees for annual meeting
(DBN)

______________

Media:

Tribune bankruptcy judge mulls allocation disputes
(DBN)

Zell Company Seeks Part of Any Future Lawsuit Winnings Over Tribune Buyout
(DBN)

______________

Hollywood:

'Yu-Gi-Oh!' Studio Gets $8 Million, Retains Distribution Rights in Legal Settlement
(DBN)

______________

Health Care:

Allen Bennett hospital owner files for bankruptcy
(DBN)

______________

Tobacco:

Objections filed to Renegade's bankruptcy exit plan
(DBN)

______________

UK:

Taylor Wessing takes Rangers role as administrators seize Collyer money
(DBN)

Future of Petroplus is on the table
(DBN)

UK Supreme Court Gives Protection to All UK Client Money In Lehman Brothers International
(DBN)

High Court examines personal liability of administrators
(DBN)

______________

EU:

Euro edges up from two-week low
(DBN)

European Banks Stuff Cheap Cash Under Mattress
(DBN)

Europe's Neediest Borrowers Seek U.S. Funds at Record Pace
(DBN)

______________

PIIGS:

Venizelos: Greek Debt Swap Best, Only Offer --- Key investors sign up for Greek bond swap --- Greece's Creditors Back Plan to Cut Bonds' Value in Half --- Greek finance minister tells bondholders swap offer is final --- Questions Remain on Swap Deal --- German banks to accept Greek bond swap
(DBN)

Goldman Secret Greece Loan Reveals Two Sinners
(DBN)

Bondholder Group Sees Over $1.3 Trillion Greek Default Risk
(DBN)

Veritas - Why CDS payouts on Greece would be good for all
(DBN)

Authorities in Athens are finally ready to push Greece into an official default
(DBN)

What the Greek Rescue is Really About
(DBN)

Leaked Memo Reveals: What A Greek Default Will Cost Europe And The World
(DBN)

The Tragedy that is Spain
(DBN)

Portugal Says Won't Seek More Room for Deficit Goal
(DBN)

Wilbur Ross: Ireland to be first in European recovery
(DBN)

______________

Canada:

MacLeod Resources 'knee deep' in debt
(DBN)

______________

Germany:

German Insolvency Law - a Leap Forward
(DBN)

______________

China:

China Cuts 2012 Growth Target --- Tamps Down on Growth Optimism
(DBN)

In China , Sobering Signs of Slower Growth
(DBN)

Why China Is Suddenly Content with 7.5 percent Growth
(DBN)

Pork Donuts
(DBN)

China's Giant Pool Of Money
(DBN)

China's Proview says in talks with creditor seeking bankruptcy
(DBN)

______________

Iceland:

Trial of former Icelandic PM has begun --- On trial for role in banking crisis --- Former prime minister says trial will vindicate him
(DBN)

______________

Japan:

Japan's north-east faces prospect of rising bankruptcies
(DBN)

Hitachi sells stake in Elpida at a loss
(DBN)

Elpida's cash, deposits to plunge to 2.2 bil. yen by Aug.
(DBN)

______________

Argentina:

Argentine minister blasts US judge's order on defaulted debt
(DBN)

______________

France:

Apax finds French twist on bankruptcy tourism
(DBN)

______________

Austria:

Fekter Says Bank Insolvency Law Ready for Lawmakers by 'Summer'
(DBN)

______________

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Copyright 2012