May 11, 2012

The Daily Bankruptcy News

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Law:

Gone Dewey Gone: Dishing the Blame --- A Dewey Bond Offering Made No Mention of Partner Guarantees --- Dewey Partners Weren't All Told of Pay Guarantees, Lawyer --- Dewey Have Underfunded Pension Plans? --- Ex-Partner Blames Legal Recruiters, Excessive Pay Guarantees, Angry Colleagues for Dewey’s Downfall --- Report: Calif. Offices of Dewey & LeBoeuf to Close on May 15; Group of 11 Lawyers Forms IP Boutique --- The Lessons of Dewey and LeBoeuf --- Dewey London trainees in the lurch --- Dewey & LeBoeuf: So much for old-line branding --- Dewey looks to cash in on property to help pay lenders --- What Do Dewey & LeBoeuf Partners Owe Their Staff? --- Regulators to take over pension funds at Dewey & LeBoeuf --- Dewey & LeBoeuf London and Moscow Corporate Finance Lawyers Decamp to Orrick --- Dewey Employee Sues over WARN Notice; Pension Plans Seized --- Dewey & LeBoeuf Employee Suit Says Firings to Come Today
(DBN)

From Biglaw to Boutique: Overhead and Under Control
(DBN)

Attorney Michael A. Fagone Appointed to American Bankruptcy Institute Board of Directors
(DBN)

Attention Fashionistas: The Power Suit Is So Last Season
(DBN)

The Crying Game
(DBN)

Where My Boies At? Some Wonder About April Bonuses at Boies Schiller
(DBN)

Lawyer Says Plagiarism Label Ruined Her
(DBN)

The Generational Divide In Legal Humor
(DBN)

'New poor' flood Legal Aid as offices cut back
(DBN)

Sarkozy’s Next Adventure: Law Practice
(DBN)

A Lawyer in Space? Hey, It Could Happen
(DBN)

Texas Hires Another Yankee To Run Its Law School
(DBN)

Touro Law Names New Dean
(DBN)

Law School Transparency: The legal one per centers
(DBN)

Quote of the Day: Wait, So All of a Sudden It’s a Great Time to Go to Law School?
(DBN)

A letter to a law school graduate
(DBN)

Canada: Law school grads can't find mandatory work
(DBN)

Convicted of First Offense, ‘Grandma’ Is Serving Federal Life Term Without Parole
(DBN)

Lawyer Is Suspended from Law Practice for Taking Quest for a Promotion Too Far
(DBN)

Defendant Accused of Lawyer Pencil Stabbings Is Found Guilty of Murdering an Acquaintance
(DBN)

Appeals Court Overturns $10K Small Claims Verdict Against Honda for Hybrid Mileage Claims
(DBN)

Anna Gristina, Accused Madam, Still Shopping For Perfect Legal Team
(DBN)

Casey Anthony: The head-scratching never ends
(DBN)

Superheroes of the Legal Profession: COBRA
(DBN)

Family Can Keep Their Porky Friend
(DBN)

Cops: Duo Left Kids In Minivan Outside S-- Shop
(DBN)

Police Arrest N---- Man Riding Unicycle Over Texas BridgeGun
(DBN)

Cops: Man Pulls Guns at Ritz Over Room Cost
(DBN)

Say What?!
(DBN)

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Judges:

Judge’s Claimed Efforts to Help Others Led to Recommended 90-Day Unpaid Suspension
(DBN)

Waxman Amicus Brief--One of Six Urging Cert in Rubashkin Case--Raises Questions of Bias
(DBN)

Did Michigan Supreme Court Justice play a shell game to get out from underwater home?
(DBN)

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Wall Street:

Stock futures signal drop after JPMorgan loss
(DBN)

Stock rebound as Dow and S&P end losing run
(DBN)

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Layoffs:

Drop in jobless claims eases labor market fears
(DBN)

Fed’s Kocherlakota: Economy Closer to Max Employment Than Data Suggest
(DBN)

If Governments Weren't Firing People
(DBN)

CA: Jobless Benefits Abruptly Cut for 100K
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

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Mass Torts:

Pfizer's Quigley Still Seeks to Reorganize, Lawyer Says
(DBN)

Subcommittee to weigh asbestos trust bill --- Asbestos trust funds needs greater transparency to prevent fraud: Witnesses --- Witness Statements: Prof. S. Todd Brown --- Marc Scarcella --- Leigh Ann Schell --- Charles Siegel
(DBN)

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Aviation:

AA Transport Workers Union Vote on Bankruptcy Offer
(DBN)

American's passenger service agents seek court intervention
(DBN)

Top operations guy touts American Airlines' last, best offer to TWU members
(DBN)

There's a lot going on with American Airlines unions
(DBN)

American won't give NMB mailing labels for passenger service agents, union says --- American Airlines workers press judge to block cuts before union election
(DBN)

USW Objects to Pinnacle Airline's Bankruptcy Financing, Citing Unfair Conditions Set by Delta Airlines
(DBN)

Air Canada vows bankruptcy is not an option
(DBN)

Man Stripped Of Unlimited Flight Pass After Costing American Airlines $1 Million Each Year
(DBN)

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Hotels:

For Hotels, Time to Renovate
(DBN)

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Autos:

Treasury: No schedule set to exit GM
(DBN)

Obama: Romney's claim of credit for autos an 'Etch-a-Sketch' moment
(DBN)

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Municipalities:

Detroit names CFO to help steer city's turnaround
(DBN)

San Diego: Trustee proposes insolvency for city schools
(DBN)

Queens: Unions sue city to stop school closures
(DBN)

More cuts expected from Pontiac schools despite recent layoffs
(DBN)

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Lehman:

Colony To Seek $625M From Lehman's Xanadu
(DBN)

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Economy:

U.S. jobless claims flat in first week of May --- Applications for unemployment aid dip to 367K
(DBN)

April Marks First Monthly Budget Surplus of Obama Term
(DBN)

Bernanke: Banks are stronger, but mortgage lending is sluggish
(DBN)

Republican House votes to cut deficit $243b, prevent defense cuts
(DBN)

Treasury’s Geithner Meets With CEOs to Discuss Economy
(DBN)

Volcker: Big Banks Too Big, That's OK
(DBN)

Bernanke: Lending spigots more open
(DBN)

What Happens When the Next Too-Big-Too-Fail Bank Goes Under?
(DBN)

Economic Mobility State by State
(DBN)

Fed Worries 'Fiscal Cliff' Is as Big a Threat as Europe
(DBN)

Goldman: These Companies Will Get Crushed In The Fiscal-Cliff-Mageddon
(DBN)

Don't go West for economic success
(DBN)

US Debt Clock
(DBN)

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Real Estate:

Mortgage rates fall to new lows again
(DBN)

Rent vs buy, Manhattan edition
(DBN)

Consumer watchdog weighs limits to mortgage fees --- Aims to Shine a Light on Mortgage Market
(DBN)

CFPB Proposes New Rules On Loan Origination
(DBN)

Proposed CFPB Mortgage Rules Could Have Unintended Consequences
(DBN)

MERS Critic Christopher Peterson Appointed to CFPB
(DBN)

State siphons off $50 million from foreclosure settlement
(DBN)

Median Home Prices Up in 51% of Metros
(DBN)

Homebuilder confidence grows in older housing markets
(DBN)

Florida metro areas lead nation in foreclosures and delinquencies
(DBN)

70% of San Diego voters favor fining banks for blighted foreclosures
(DBN)

Vacant Properties: The New Ticking Time Bomb
(DBN)

AG robo-signing settlement monitor puts complaint forms online
(DBN)

ResCap Bankruptcy Would Move Ally Closer to IPO
(DBN)

Ally Said to Get ResCap Bondholder Backing for Bankruptcy
(DBN)

Outgoing Fannie Mae CEO Doesn’t Support Principal Write-Downs --- Ed DeMarco could hasten end to foreclosure crisis by allowing debt forgiveness
(DBN)

Principal reductions begin in earnest
(DBN)

Judicial States Bloat U.S. Shadow Inventory --- S&P: 46 months to clear shadow inventory
(DBN)

Deutsche Bank settles FHA suit for $202.3 million
(DBN)

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Mail:

Postal Service loses $3.2 billion in Jan-March
(DBN)

______________

Celebs:

Jeremy Mayfield’s wife files for bankruptcy
(DBN)

Kevin Costner Wins Contract Dispute over Buffalo Sculpture
(DBN)

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Banking:

JPMorgan Is Tanking Hours After Announcement Of Shock Losses Due To 'Egregious Mistakes' --- What Jamie Dimon Said On JPMorgan's Surprise Conference Call On Trading Losses --- Sen. Carl Levin: JPMorgan Just Reminded Us We Need To Be Tougher On Banks
(DBN)

Bernanke: Banking Is Stronger, but Lending Still Tight
(DBN)

FDIC chief sets plan for large bank resolution
(DBN)

Banks could face day of reckoning
(DBN)

FDIC says it's prepared for the next Lehman
(DBN)

Volcker Rule Driving Talent to Hedge Funds: Stern
(DBN)

______________

Food/Beverages:

Yucaipa, AFA Foods Sued Over Back Wages of Meat-Plant Workers
(DBN)

PACA bars Chicago company in $3.5 million case
(DBN)

______________

Fashion:

Betsey Johnson Can Sell Merchandise to Liquidators
(DBN)

______________

Energy:

Dynegy Loss Narrows Despite Fall In Revenues
(DBN)

______________

Derivatives:

Signals From CDS Widening
(DBN)

Credit Default Swaps: Useful, Misleading, Dangerous?
(DBN)

______________

Corporate Reform:

How to Get the CFPB to Address Your Most Pressing Money Needs
(DBN)

______________

Fraud:

Boston Private seeks confidentiality in Rothstein case
(DBN)

______________

Trucking:

SEC in formal probe of Paccar financial statements
(DBN)

______________

Telecoms:

Ergen Builds Cash Pile Amid LightSquared Restructuring Talks
(DBN)

______________

Student Debt:

Who’s to Blame for Federal Student Loan Defaults?
(DBN)

The draconian hidden penalty on student loans
(DBN)

______________

Corporate Governance:

When shareholders topple CEOs
(DBN)

______________

Music:

EMI says bankruptcy won't protect MP3tunes from copyright suit
(DBN)

______________

Equipment Rentals:

Ahern Rentals Now Has Until August to Propose Bankruptcy Plan
(DBN)

______________

Student Debt:

Doubling of Stafford Interest Rates May Cost Only $6 More a Month
(DBN)

______________

Sporting Goods:

Bankrupt Prince Likely to Have New Owner by Month's End
(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 (18 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (44 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)

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Bankruptcy Statistics:

 

Interactive Bankruptcy Statistics Map
(DBN)

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Bankruptcy Poetry:

And the Rest Is History
(DBN)

Near Death Experience
(DBN)

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Personal Bankruptcy:

Americans Too Broke to File For Bankruptcy
(DBN)

______________

Jurisdiction:

Stern v. Marshall: A narrow ruling creating broad problems in the bankruptcy process
(DBN)

______________

Automatic Stay:

District Court Upholds Extraterritorial Enforcement of the Automatic Stay and Injunction Barring Foreign Creditor's Lawsuit
(DBN)

______________

Litigation:

Suspicious Minds
(DBN)

______________

Finance:

Cross-collateralization Provisions: In re Duckworth
(DBN)

______________

Insurance:

D&O Insurance: Layers and Tiers and Problems
(DBN)

______________

Personal Finance:

Finances factor into weddings but aren't deal-breakers in relationship, bankruptcy is
(DBN)

______________

Pensions:

Meritocracy, mediocrity, bankruptcy
(DBN)

Retirees debate options
(DBN)

A Greek tragedy in the Pacific
(DBN)

______________

Debt Collection:

Collection survey shows major challenges and a 20% increase in cases
(DBN)

Asset Acceptance faces class-action suit over time-barred debts
(DBN)

Accretive Health may farm out debt collection work
(DBN)

______________

Accounting:

Accountants disappointed with low salary hikes
(DBN)

______________

Health Care:

The emergency room is not health insurance
(DBN)

PA Hospital CEO Breached Fiduciary Duty, Suit Alleges
(DBN)

McAllen, Tex. has expensive health care — and lots of company
(DBN)

Massachusetts wants to cut $150 billion in health costs. Can it succeed?
(DBN)

Saint Catherine trustee sues creditors to force repayments
(DBN)

______________

UK:

UK keeps up heat on big banks for "living wills"
(DBN)

The London Olympics Are Looking Like A Financial And Organizational Disaster
(DBN)

______________

EU:

Europe Plans Shift from Austerity to Growth
(DBN)

Here's One Bank Said To Be Leveraged Like Lehman
(DBN)

______________

Cross-Border:

Chapter 15 Offers Safe Harbor But Not Complete Refuge From Foreign Court Rulings
(DBN)

______________

PIIGS:

Spain faces daunting task in bank reform --- Spain is completely deluding itself on the size of potential bank losses
(DBN)

Spain's bank shares tumble ahead of crisis reform
(DBN)

Grupo A.C.S. - a case study in how corporate debt is choking the Spanish economy
(DBN - NY Times - Paywall Limit Possible)

Greeks attempt third coalition deal amid bankruptcy fears
(DBN)

Greece's Leftist Leader: We Want Euro, But Not Austerity
(DBN)

Greece: Why not let it sink?
(DBN)

Greeks May Hold $510 Billion Trump Card in Renegotiation
(DBN)

New Greek Poll Confirms One Of Europe's Worst Fears
(DBN)

How a Radical Greek Rescue Plan Fell Short
(DBN)

Europe signals openness to easier Greek conditions
(DBN)

______________

Canada:

Cash Collateral - Promised Changes To The Ontario PPSA Will Facilitate Taking Cash As Security
(DBN)

______________

Argentina:

Sex-Change Surgery on Demand Becomes a Legal Right in Argentina
(DBN)

______________

Japan:

Panasonic loss balloons for record red ink
(DBN)

______________

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Copyright 2012