May 14, 2012

The Daily Bankruptcy News

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Law:

Bienenstock Takes Practice to Proskauer --- Takes partners --- Bruce Bennett to Leave Dewey for Jones Day --- As Dewey Partners Find New Homes, Questions Mount About Old One --- Dewey Pay Guarantees May Be Worth a Dime on the Dollar --- Bankruptcy Specialist at Dewey Heads for Exit --- Dewey Have Anyone Left To Turn Out the Lights? --- Locke Lord v. Dewey & LeBoeuf: A Tale of Two Mergers --- Ex-Dewey Staffers Feel 'Thrown Under Bus' --- As Dewey Partners Find New Homes, Questions Mount About Old One --- Bankruptcy Big Wig Joins Proskauer --- Partners and Retirees Face Big Financial Losses --- Ex-Dewey Staffers Feel 'Thrown Under Bus' --- Dewey Violate Rule 10b-5? A Detailed Look at the Firm's 2010 Offering Memorandum --- Alumni Watch Quietly As Defections Rock Firm --- The Dewey chronicles: The rise and fall of a legal titan --- Then and now: A Dewey timeline --- Dewey & LeBoeuf: A Visual Essay (Or: Dewey know what Steve DiCarmine looks like?)--- Dewey & LeBoeuf Sued for Failing to Pay Janitorial Services --- Administration likely as insolvency talks continue at Dewey --- Dewey Departure Tracker --- More law firms may end up like Dewey
(DBN)

Proskauer Adds Leading Business Solutions, Restructuring and Bankruptcy Group
(DBN)

Squire Sanders Promotes Dahl to Principal
(DBN)

Anti-Catholic lawyer gets 60 days to wrap up her cases
(DBN)

Are Service Partners Second Class Citizens?
(DBN)

1Q 2012 expenses rise at almost double rate of 1Q 2011
(DBN)

Lots of Jobs for Law Graduates -- just not Grads in the U.S.
(DBN)

Citibank Report Shows Modest Growth in Demand for Law Firms' Services
(DBN)

AM Law 100 = Philadelphia Cream Cheese?
(DBN)

There is Now 1 Lawyer for Every 257 Americans
(DBN)

Power Women Aren't Helping Other Women
(DBN)

What Not to Wear: Summer Dressing
(DBN)

Mayer Brown lets out surplus London office space as growth strategy slows
(DBN)

Law School Transparency: Should law school acceptance letters include warning labels?
(DBN)

Feds Say Ex-Partner Committed Crimes to ‘Dramatically Increase’ Rothstein Law Firm’s Political Power
(DBN)

Just Trying To Fit In
(DBN)

Harvard Law Grad Makes JOLTing Discovery: Accusations of Plagiarism Can Ruin Lives
(DBN)

Even During Finals, Some Law Students and Professors Manage to Act Like Adults
(DBN)

Is Kenneth Dam working for Elliott Associates?
(DBN)

Vigilante Bicyclist Gets His Stolen Bike Back
(DBN)

Man accused of using gun to force 'moonwalk'
(DBN)

You Can Be Sure These Young Men Won't Be Snorting Drugs Again
(DBN)

Cops Sent To Collect Overdue Library Books From 4-Year-Old Girl
(DBN)

The Face Of Evil
(DBN)

Say What?!
(DBN)

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Judges:

Congress Passes Bill to Extend Temporary Bankruptcy Judgeships
(DBN)

Twitter Schools Judge in Social Media
(DBN)

Who's to Blame for Slow Pace of Judicial Nominations?
(DBN)

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Wall Street:

U.S. stock futures decline on Greece worries
(DBN)

Europe woes grip investors again
(DBN)

Wall Street Betting as Big as Ever
(DBN)

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Layoffs:

'Pink Slime' Bankruptcy : Worker Says No Warning Before Mass Layoff
(DBN)

Why Filing Bankruptcy Might Be The Worst Thing You Could Do For Your Career
(DBN)

Some Good News About The Job Market For College Grads
(DBN)

More than 230,000 unemployed Americans losing their unemployment benefits
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

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Examiners:

Judge Won't Make Full Dynegy Examiner's Report Public
(DBN)

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Publishing:

Houghton Mifflin Restructuring Debt, Will File Prepackaged Bankruptcy --- Reaches deal to cut $3.1 billion debt
(DBN)

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Corporate Reform:

Unlucky Day for Consumer Financial Servicer Providers? The CFPB Issues Its Vendor Management Bulletin on Friday the 13th
(DBN)

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Telecoms:

LightSquared edges closer to bankruptcy filing: sources
(DBN)

LightSquared debt deal shuts out Dish Network's Charlie Ergen
(DBN)

Bankruptcy won't hinder Wi-Fi network
(DBN)

Lessons learned from Nortel Senior Notes: "single satisfaction” of the guarantee claims in chapter 11Lexology
(DBN)

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Health Care:

Slimmed-down Cheboygan hospital to reopen Monday
(DBN)

Queen's aims to buy, reopen Ewa hospital
(DBN)

Saint Catherine trustee sues creditors to force repayments
(DBN)

Patients Can't Get Records from Shuttered Hospital
(DBN)

Bankrupt hospital faces lawsuits from trustee, ex-workers
(DBN)

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Religion:

Creditors investigating possible ties between Palma, Christian Brothers in bankruptcy
(DBN)

Questions, debts abound as Episcopal school faces closure in Roseville
(DBN)

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Alternative Energy:

Solar Trust of America Wins Court Approval to Auction Assets
(DBN)

Derided as fraud, Baldwin alternative energy company draws interest from Canadian investor
(DBN)

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Politics:

Elizabeth Warren Has Used Shoddy Evidence Before --- Records shed more light on Elizabeth Warren’s minority status
(DBN)

It's More Clear Than Ever That If Romney Loses, The Economy Is Going To Implode
(DBN)

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Oil/Gas:

15 Countries With The Biggest Oil Reserves
(DBN)

Chesapeake high yield bonds heavy in secondary after word of previously undisclosed liabilities
(DBN)

Chesapeake's house of financial horrors
(DBN)

Chesapeake Board Told to Fire CEO
(DBN)

The Oklahoma Oil Glut
(DBN)

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Fraud:

Gupta seeks to exclude Rajaratnam wiretaps --- Trial may hinge on three key wiretaps
(DBN)

In Gupta case, challenge for prosecutors: Frankel
(DBN)

Probe of SEC Watchdog Office Could Revisit Madoff Report
(DBN)

Rothstein Firm Lawyer Lippman Pleads Guilty to Conspiracy
(DBN)

______________

Tax:

Taxes Got You Down? Renounce!
(DBN)

Lawyer is Federally Charged re Claimed Conspiracy to Use Swiss Bank Accounts to Defraud IRS
(DBN)

British lawyer charged in alleged U.S. tax scheme
(DBN)

Husband-and-Wife Attorneys Get Reciprocal Sentences in Tax Case
(DBN)

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Pensions:

The Mariana Pension Foreshock
(DBN)

Fund suit vs CUC moved to fed court
(DBN)

______________

Record Industry:

Here's How The Record Industry Stomps The Crap Out Of Startups It Hates
(DBN)

______________

Economy:

Consumer sentiment at 4-year high in early May
(DBN)

Survey: Consumers Still Pessimistic
(DBN)

A map of economic mobility in America
(DBN)

Wholesale prices down
(DBN)

It’s good to be rich in America, in two graphs
(DBN)

The Rise and Further Rise of the Super Rich
(DBN)

As Europe's economic outlook darkens, US risks grow
(DBN)

Economists see brighter labor market -survey
(DBN)

Bernanke warns lawmakers on looming fiscal risks
(DBN)

Truck Cancellations Hit Two-Year High as Rebound Slows
(DBN)

Obama Pushes 5 Economic Fixes
(DBN)

US Debt Clock
(DBN)

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Real Estate:

Rate on 30-year mortgage hits record 3.83%
(DBN)

Bank Regulator Halts Work of Foreclosure-Review Consultant
(DBN)

Bankruptcy aims to free Ally of bad mortgage assets after auto rescue
(DBN)

Is Government Backing a New Housing Bubble?
(DBN)

Philadelphia starts from scratch to fix foreclosures
(DBN)

Commercial Investors Fear New Precedent Set for ‘Extend and Pretend’
(DBN)

Fitch: REOs represent one third of CMBS delinquencies
(DBN)

Conditions improve in commercial real estate, but confidence is fleeting
(DBN)

Court papers reveal Mastro, Hazelrigg investigations
(DBN)

SEC Charges Apartments America And Its Owners In Scheme To Defraud Investors
(DBN)

Investors cheer fraud charge against Irvine firm
(DBN)

_____________

Banking:

A black mark for survivor of financial crisis --- Jamie Dimon loses his luster --- Look How Close Jamie Dimon Came To Completely Different Headlines --- Three JP Morgan Execs Out After Trading Disaster --- How JPMorgan Went From Tempest In A Teapot To $2 Billion Loss In One Month --- This Is Clearly Going To Cost JPMorgan Much More Than $2 Billion --- When basis trades blow up --- JPMorgan's $2 Billion Loss, Explained --- "Too Big To Hedge": How did JPMorgan and its regulators miss this? --- "JP Morgan more or less invented risk management. If they can’t do it, no bank can" --- What it's like to have your boss ask you to execute a $1 billion hedge --- Don't forget JP Morgan's other huge derivatives losses --- Top 10 Biggest Trading Losses in History
(DBN)

WhaleMu – JP Morgan’s Next Surprise?
(DBN)

Fitch Downgrades JPMorgan, Questions Liquidity After $2B Trading Loss
(DBN)

Warren: Dimon should quit NY Fed
(DBN)

Levin: "The latest evidence that what banks call ‘hedges’ are often risky bets... banks have no business making."
(DBN)

Volcker is Right: No Derivatives for Banks
(DBN)

Volcker Rule Proponents Say JPMorgan Loss Bolsters Case
(DBN)

Bair: Fed Should Tighten Volcker Rule To Avoid Whale-Like Mischief --- Regulating the Whale
(DBN)

The Silver Lining Of Overdraft Fees
(DBN)

TD Bank Agrees to Pay $62 Million to Settle Checking Overdraft Fee Lawsuit
(DBN)

Fed's Fisher: Texas banks "best run" in nation
(DBN)

Fisher: Big Banks Need to be Downsized
(DBN)

Unofficial Problem Bank list declines to 924 Institutions
(DBN)

______________

Student Debt:

A Generation Hobbled by the Soaring Cost of College --- Loan battle gains steam in Congress
(DBN)

It's Time to Solve the Student Loan Crisis
(DBN)

There Are 996 Schools With An Even Worse Return On Investment Than The College Profiled In The Times
(DBN)

Undo Undue Hardship: A Better Way to Discharge Student Loans in Bankruptcy
(DBN)

The Real Price Of College
(DBN)

______________

Aviation:

AMR Said Ready to Study Sale Among Options in Bankruptcy --- US Airways Angles for a Merger With American
(DBN)

Short of pilots, American cuts flights in June
(DBN)

American Airlines Pilots Oppose Company Request to Void Contract --- Photos from pilots protest march on American headquarters
(DBN)

APA president: The executives who led us into bankruptcy aren't the ones to lead us out
(DBN)

Miami TWU: We're not recommending a 'no' vote
(DBN)

American Airlines employees hand deliver 'no confidence' petitions
(DBN)

CWA tweets proceedings in bankruptcy court
(DBN)

Hawker Beechcraft Will Remain Standalone Company
(DBN)

Hawker Beechcraft creditors committee named
(DBN)

Hawker Beechcraft laying off another 150 employees
(DBN)

A Stingy Spirit Lifts Airline's Profit
(DBN)

For Spirit Airlines, Low Fares, but Plenty of Optional Fees
(DBN)

Union Objects To Pinnacle's Bankruptcy Financing
(DBN)

San Bernardino airport fuel dispute goes before a judge
(DBN)

______________

Municipalities:

U.S. Bankruptcy Administrator recommends three Jefferson County creditors for committee
(DBN)

Harrisburg New Receiver Named as Corbett Turns to General
(DBN)

Harrisburg Ex-Mayor Left Pennsylvania City Near Bankrupt
(DBN)

Aid to small town could forestall bankruptcy
(DBN)

$2M in hole, county fears bankruptcy
(DBN)

Embezzler drove Colorado Springs Co. into bankruptcy
(DBN)

Illinois mayors join Rahm Emanuel in push for municipal pension reform
(DBN)

Capitol Renege to be Voted Upon This Week
(DBN)

Municipal bankruptcy infighting flares anew in California
(DBN)

California's Deficit Explodes To $16 Billion, Threatening 'Severe' Cuts --- Brown pushes tax hike
(DBN)

______________

Mass Torts:

Panel hears asbestos trust transparency needs
(DBN)

Dem. Congressman calls attorneys who contacted him 'parasites'
(DBN)

The long, lethal shadow of asbestos
(DBN)

______________

Celebs:

Octomom gives Tanning Mom her two cents
(DBN)

______________

Photography:

Kodak's Kettering operation key for the company's future
(DBN)

Kodak Retiree Bill Faces Changes
(DBN)

______________

Golf:

Woodcrest Country Club future in doubt
(DBN)

______________

Gambling:

Suffolk Regional Off-Track Betting Files for Bankruptcy in N.Y.
(DBN)

Indiana Racino Takes New Name
(DBN)

______________

Glass:

Mexico Court Orders Bondholders to Pay Vitro Legal Fees and Expenses
(DBN)

______________

Brokers:

John Hoss: Seattle's Olympic Coast Investment forced into bankruptcy by aggressive lender
(DBN)

______________

Fitness:

Fitness First restructuring plan sees full debt write-down
(DBN)

______________

Equipment Rentals:

Ahern Rentals receives extension to propose bankruptcy plan
(DBN)

______________

New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (45 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (29 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:

Bankruptcy Week Ahead
(DBN)

2011 Bankruptcy Law: The Year in Review
(DBN)

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Bankruptcy Statistics:

Interactive Bankruptcy Statistics Map
(DBN)

______________

Obits:

Rose: N.M. Judge Known for Swift Rulings, Quick Wit
(DBN)

______________

Jurisdiction:

Southern District Stern Review: Rakoff Rules that Fraudulent Transfer Actions Belong in Bankruptcy Court, But Only for Reports and Recommendations
(DBN)

______________

Safe Harbors:

Safe Harbor Unavailable For Payments To Collateralize Letter of Credit in Bond Redemption
(DBN)

_____________

Bankruptcy Reform:

New Bill Could Help Small Business Debtors With Bankruptcy Organization
(DBN)

______________

Bankruptcy Poetry:

Why I Love Being a Baseball Manager
(DBN)

Haiku contest again? Bracewell & Giuliani offers more Yanks tix
(DBN)

______________

Cross-Border:

SNP Boat Service S.A.: Clarifying the Limited Reach of a U.S. Bankruptcy Court in Chapter 15
(DBN)

______________

Secured Debt:

Regulatory Collateral: TerreStar, Tracy Broadcasting, AMR
(DBN)

______________

IP:

A Call To Arms - 365(n)And Trademark Licensees
(DBN)

______________

Litigation:

'Da Silva Moore' Plaintiffs Continue Discovery Objections
(DBN)

Hey Baby, Do You "Meet and Confer" Here Often?
(DBN)

______________

Autos:

Ed Schultz Insists GM and Chrysler Never Went Through Bankruptcy
(DBN)

On The Edge of Bankruptcy, De Tomaso May Seek Help from Large Automakers
(DBN)

______________

Celebs:

The Broke and the Beautiful: T.O. Edition
(DBN)

Report: Another Real Housewife Of New Jersey Is About To Declare Bankruptcy
(DBN)

Lawyer In John Travolta Sexual Assault Case Bankruptcy Issues
(DBN)

Mayfield home foreclosure on hold after wife files for bankruptcy
(DBN)

______________

Resorts:

Ogden Valley resort on auction block June 1
(DBN)

______________

Food/Beverage

A Corporate Bailout For Hostess Twinkies?
(DBN)

AFA Foods nets bidding-procedures OK; auction set for June 21
(DBN)

______________

Prisons:

Detention center owner won't oppose bankruptcy
(DBN)

______________

Energy:

Dynegy sees new Ch. 11 plan by May 30, emergence by Sept. 28
(DBN)

______________

Furniture:

California retailer Treasures Furniture in Chapter 11
(DBN)

______________

Sovereigns:

Pacific nations face debt struggle
(DBN)

______________

UK:

Rangers administrators accept bid for club
(DBN)

Broken generation as thousands are in debt crisis
(DBN)

Concern at number of Scots resorting to payday loans
(DBN)

High Court clarifies scope of insolvency exception
(DBN)

Freshfields and Travers advise on Clinton Cards collapse
(DBN)

Turmoil boosts London property stampede
(DBN)

______________

EU:

Spain, France get EU budget alert, Greece agonizes
(DBN)

Is Europe a safe place to buy? Not exactly
(DBN)

As European bond yields rise, barbers are sharpening their shears
(DBN)

Euro's day of reckoning looms
(DBN)

Another Huge Setback For Angela Merkel
(DBN)

Euro-Zone Industrial Output Fall Stokes Recession Fears
(DBN)

The Final Death Throes of the Euro
(DBN)

______________

PIIGS:

Greek president makes last push to avert elections --- Greece Nears 'Moment Of Truth' As Coalition Talks Fall Apart
(DBN)

The Troika Is Already Offering Payoffs In Order To Get Greece To Form A Pro-Euro Government
(DBN)

For Many in Greece, Austerity Is a False Choice
(DBN)

Greece on a cliff
(DBN)

Exit from eurozone 'possible' --- Der Spiegel Isn't Very Subtle --- How Greece could leave the eurozone – in five difficult steps --- Greece would face dire consequences from a euro exit – as its electorate knows
(DBN)

Greek Exit: Looking more likely
(DBN)

Euro Officials Begin to Weigh Greek Exit
(DBN)

If Greece goes... who and what would be next?
(DBN)

Bankruptcy within weeks, Greeks warned
(DBN)

EU's Rehn: Spain banking plan should dispel doubts
(DBN)

Spaniards keep up anniversary rally against crisis
(DBN)

Spanish borrowing costs at euro-era high
(DBN)

100,000 March in Spain Over Austerity
(DBN - NY Times - Paywall Limit Possible)

Madrid-Toledo Toll Highway Declares Bankruptcy
(DBN)

Euro Economy to Shrink as Spain, Italy Re-Enter Recession
(DBN)

______________

China:

China Crashes in April, Shows Signs of Contraction
(DBN)

China cuts banks' reserve requirements
(DBN)

China CPI growth eases to 3.4% in April
(DBN)

What short-sellers mean when they say Chinese banks are "built on quicksand"
(DBN)

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Copyright 2012