May 15, 2012

The Daily Bankruptcy News

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Law:

Dewey Troubles Touch NewPage Chapter 11 --- Dewey Bankruptcy Heavyweight Moves to Jones Day --- No Plans for Dissolution Vote or Bankruptcy at Dewey; Bienenstock --- Emerging Lessons --- Assigning Blame in Dewey's Collapse --- Ripples From Dewey Collapse Swamp Lawyer Job Market --- Six-partner bankruptcy team quits as laid-off Dewey staff see final day --- Corporate Finance Heavy, Fitzgerald, Leaves Dewey for Paul Hastings --- Payback by Demoted Duo at Dewey; Partner Comp Ranged from $300K to $10M --- Distressed-Debt Investors Circling Around Dewey --- Dewey Leaders Speak on Failure, What Comes Next --- Dewey's 'secret' culture --- Behind the Scenes as Dewey Tries to Save What Remains --- Bienenstock Discusses Law Firm's Demise --- Boy, Dewey Have A Reading List For You! --- All That is Solid, Vanishes --- Greenberg nears Dewey Poland deal alongside City duo and exec partner --- Dewey Italy spin-off to rebrand under Grimaldi name after high-profile hire --- Innocent's Imperative
(DBN)

The fracturing of Big Law --- Are BigLaw Expansions Unsustainable? Lawyer Representing Howrey Creditors Predicts Dissolutions --- The Ghosts That Haunt Big Law
(DBN)

Avoiding Law Firm Implosions by Mandating Firms to Undergo Annual Stress Tests
(DBN)

Stites & Harbison Appoints Elizabeth Hall to Atlanta Office
(DBN)

 

Potential NFL Rookie Is About To Make The Biggest Mistake Of His Life By Going To Law School
(DBN)

Court Revives $500 Million Malpractice Claim Against K&L Gates
(DBN)

The Practice: Free Advertising
(DBN)

Iowa Wants Lawyers
(DBN)

The Next Generation of Computers Practicing Law
(DBN)

GC or Bust: Moving Up in the In-House World
(DBN)

General counsel's heightened influence in the boardroom
(DBN)

CLO Goes Undercover For 'Boss'
(DBN)

To Catch an Alleged Law School Predator
(DBN)

GWU Joins Lengthening List of Law Schools Opting to Reduce Class Size
(DBN)

West and Lexis: copyrights and wrongs
(DBN)

If a Lawyer Speaks at a Public Meeting and There’s No One There to Hear Him, Does He Make a Sound?
(DBN)

Authorities: Pennsylvania Attorney Set Fire to Own Guest House
(DBN)

Ex-Tyco GC Talks About His Post-Scandal Life and Career
(DBN)

FDIC General Counsel to Leave for Cleary Gottlieb in June
(DBN)

Citizens United: The Untold Story --- How Chief Justice John Roberts orchestrated the Citizens United decision
(DBN)

Give Me the Moon: Lawyer Pursues Ordinary Folks and World Leaders for NASA’s Lunar Rock Gifts
(DBN)

Dog Custody Battle Racks Up $60K in Attorney’s Fees
(DBN)

Ethics Panel Accuses Lawyer of Telling Opposing Counsel He Hopes She Will ‘Sleep with the Fishes’
(DBN)

"Bad Luck"
(DBN)

"The Good Wife" - Will law firm run out of money?
(DBN)

______________

Judges:

Breakfast With Easterbrook
(DBN)

'Day of Reckoning' for CA Courts --- Brown Cuts $544 Million from Court Budget
(DBN)

Scalia Turns Advocate Against Obama
(DBN)

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Wall Street:

US stock index futures point to rebound
(DBN)

The Early Rally Has Vanished, And Europe Is Sinking Into The Red
(DBN)

U.S. stocks drop sharply on worries over Europe
(DBN)

What It's Like Living With My Neurotic Banker Boyfriend
(DBN)

______________

Layoffs:

Why we need targeted action to help the long-term unemployed
(DBN - NY Times - Paywall Limit Possible)

Not working: Voices of America's laid off workers
(DBN)

Pomona Valley Issues Hundreds of Layoff Notices
(DBN)

Top Firm Execs Said Asked To Prepare Lists Of Bottom 15% Performers
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

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Tax:

Sup. Court says farmers must pay bankruptcy tax
(DBN)

Many Renounce Citizenship Over Taxes Due
(DBN)

Lawyer Held In Lieu of $2M Bail re Claimed Conspiracy to Help Clients Avoid Tax on Offshore $10M
(DBN)

______________

Aviation:

The American Airlines bankruptcy: Considering its options
(DBN)

American And Its Unions Back In Court
(DBN)

American Airlines pilots take their case to bankruptcy judge
(DBN)

Pilots union continues talks with American as court hearing resumes
(DBN)

AMR pilots see $130 mln savings from US Air merger
(DBN)

APA: 'We're prepared to take our medicine' (just not American's prescription)
(DBN)

AMR's In-House Maintenance Commitment Set to Decline
(DBN)

US Airways Shares Take Off on Merger Outlook
(DBN)

Hawker Beechcraft will remain intact, company exec says
(DBN)

Japan Airlines Cost-Cuts its Way to a $2.33 Billion Annual Net Profit
(DBN)

Flybe 'interested in Cimber Sterling'
(DBN)

Bolivia's main private airline AeroSur in doubt
(DBN)

Where are the world's busiest airline routes?
(DBN)

______________

Debt Collection:

Accretive Responds to Attorney General, Al Franken --- Shares rise
(DBN)

CMS Probes University of Minnesota Medical Center After Accretive Allegations
(DBN)

AHA Will Put Reins On Medical Debt Collection Practices
(DBN)

Judge Rules for Collection Agency in Voicemail Case
(DBN)

Cops uncover Hells Angels debt collection link to corporate giant Visy
(DBN)

______________

Lehman:

Dick Fuld Never Stops Pounding The Pavement
(DBN)

______________

Distressed Investing:

Supreme Court ruling could add costs to distressed debt investors
(DBN)

______________

Prisons:

How we built the world's prison capital
(DBN)

______________

Politics:

Elizabeth Warren calls for return of Glass-Steagall --- Elizabeth Warren, Glass-Steagall, and the Specter of Lehman Brothers
(DBN)

Mass. Dems hit Brown after $2B JPMorgan blunder
(DBN)

Amateur Genealogist Who Backed '1/32 Cherokee' Warren Now Admits Mistake --- Brown camp pushing Warren to reveal records
(DBN)

Warren: Wall Street Fighting A "Guerrilla War" Against Regulations
(DBN)

Obama Hits Romney on Bain as He Raises Wall Street Money --- Romney's Bain Stain
(DBN)

Car Czar Slams Obama for Slamming Romney
(DBN)

Portman Defending Romney Calls Job Losses ‘Capitalism’
(DBN)

The Romney Campaign Responds: Obama Is A Crony-Capitalist Who Is Wrecking America With Debt
(DBN)

______________

Economy:

More US families drowning in debt
(DBN)

The 1% Conundrum: How Much Income Inequality Is There, Really? --- What Really Happened to Income Inequality in the 20th Century?
(DBN)

Government Handouts Are Leading To Economic Depressions
(DBN)

50 Years of Government Spending, In 1 Graph
(DBN)

US Debt Clock
(DBN)

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Real Estate:

Ally hopes to end mortgage woes with ResCap bankruptcy --- The Petition --- ResCap Bankruptcy Papers List Largest Creditors
(DBN)

ResCap Judge Says Quick Request Related to Loan 'Unfair' --- ResCap Gets Interim Approval for $1.45 Billion Bankruptcy Loan
(DBN)

Deciphering ResCap's $8.7 billion deal with MBS investors
(DBN)

RMBS Investors Angle for ResCap Recovery
(DBN)

Un-Belize-able! Ex-CEO of broke ResCap roughs it
(DBN)

Ally estimates $1.3 billion 2Q loss after ResCap files for bankruptcy
(DBN)

ResCap bankruptcy brings Ally full circle
(DBN)

ResCap Board Approves DIP Financing
(DBN)

Nationstar To Buy Mortgage Servicing Assets
(DBN)

ResCap Bankruptcy Puts Taxpayers In Stronger Position To Recover Investment
(DBN)

GM interested in acquiring Ally's foreign operations
(DBN)

Housing: The Return of Multiple Offers
(DBN)

Gary Shilling: Home Prices Will Plummet 20% From Here
(DBN)

Current Mortgage Rates
(DBN)

Rhodes Homes Creditors Going After Founder Jim Rhodes
(DBN)

Friendswood to buy dino-land
(DBN)

WVSV Holdings Files for Bankruptcy Protection in Arizona
(DBN)

Inside London's $105 Million Flat
(DBN)

As “Bad-Boy” Recourse Liability Spreads to Construction Lenders . . . Is the End Near for Non-Recourse Liability??
(DBN)

Fitch Ratings: CMBS Delinquency Rate Up In April
(DBN)

_____________

Banking:

Key senator calls for hearings on JPMorgan trading loss
(DBN)

Regulator May Have Permitted JPM Trade Under Volcker Rule
(DBN)

The humbling of Jamie Dimon
(DBN)

JP Morgan's Dimon Turns To Long-Time Aide As Mr. Fix-It
(DBN)

Dimon may be 'stupid' but he's right on banks --- Dimon's 'stupid' admission: catnip for lawyers? --- How Lawyers Will Attack JPMorgan Over Trading Loss
(DBN)

New JPMorgan CIO Doesn’t Get Out Of Bed For Less Than A Great Depression-Level Financial Catastrophe
(DBN)

Red Flags Said to Go Unheeded by Chase Bosses
(DBN)

JPMorgan Chase Has Lost $20 Billion On Its Bad Trade, Taking Into Account Share Price
(DBN)

Former JPM CFO: Controversial unit's strategy was always "hedging for profits"
(DBN)

JPMorgan's unit's entire London staff could be fired --- London: Epicenter Of Financial Trading Disasters?
(DBN)

A guide to how JPMorgan's surprise $2 billion loss might change financial overhaul
(DBN)

10 Questions JPMorgan's Board of Directors Should be Asking
(DBN)

Lax Regulation Not to Blame for J.P. Morgan Loss
(DBN)

Fed regulators in hot seat over JPMorgan loss --- U.S. National Bank Regulator Examining JPMorgan's Risky Trading
(DBN)

Banks Amass $211 Trillion In Derivatives, JP Morgan Loses $2 Billion And Volcher Rule Debates Continue
(DBN)

JPMorgan loss could spark more bank downgrades
(DBN)

A Big Oops at JP Morgan!
(DBN)

Break up the banks
(DBN)

______________

Oil/Gas:

Chesapeake confident on asset sales, shares rise
(DBN)

______________

Autos:

Auto bailout: ex-GMAC puts mortgage unit in bankruptcy
(DBN)

Opel head lays out plans for turnaround --- Open to new allies in bid to turn profit
(DBN)

Why Investors Are Selling GM Like Crazy
(DBN)

Durant slams auto bailouts as he delivers campaign petitions
(DBN)

______________

Telecoms:

LightSquared, Failed Wireless Venture, Files for Bankruptcy --- Files after negotiations fall apart --- Files After Wireless Network Blocked --- Petition --- First Day Declaration
(DBN)

In Chapter 11, Phil bets it all
(DBN)

______________

Alternative Energy:

Solyndra for sale: High-tech production plant on the auction block
(DBN)

Despite Solyndra, support for government incentives still strong
(DBN)

______________

Municipalities:

Suffolk OTB: Chapter 9, take two
(DBN)

As Stockton struggles, churches hold drive-thru prayers
(DBN)

CA. Gov. Jerry Brown Announces $8.3 Billion in Spending Cuts
(DBN)

CA: 4 Day State Workweek, Higher Taxes
(DBN)

Brown’s new budget attacks producers
(DBN)

LA on Edge of Bankruptcy
(DBN)

______________

Agriculture:

Grabinski legal wrangling continues
(DBN)

Court says farmers must pay bankruptcy tax
(DBN)

______________

Food/Beverage:

BPI laying off 86 more after 'pink slime' controversy
(DBN)

USA Springs judge puts off auction decision
(DBN)

______________

Hotels:

Seville corporate files for Chapter 11; 2012 make or break
(DBN)

______________

IP:

US court uses "protection of the US" defence - Foreign patent law secondary to land of the free
(DBN)

______________

MF Global:

Rep. Grimm, 64 others ask Holder to name independent counsel
(DBN)

MF Global creditors rush to offload claims
(DBN)

The Last 7 Days Of MF Global : How It Really Went Down
(DBN)

______________

Religion:

Cardinal lied about evidence, lawyer says
(DBN)

______________

Environmental:

Anadarko Was Part of $25 Billion Scheme, U.S. Says
(DBN)

______________

Textbooks:

CEO Announces Retirement; Nebraska Book Company Names Current President and COO, Barry Major, as New CEO
(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 (98 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (17 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:

Rochelle on Vitro, LodgeNet, Statistics on Junk Defaults: Audio
(DBN)

______________

Bankruptcy Statistics:

Interactive Bankruptcy Statistics Map
(DBN)

______________

Avoidance Actions:

CRC Litigation Trust Starts Chem Rx Corporation Bankruptcy Transfer Avoidance Adversary Proceedings
(DBN)

______________

Sales:

Not So Fast – 363 Sales May Not Be Free and Clear of Future Claims
(DBN)

______________

Claims:

Effect of Acceleration upon a Chapter 11 Filing on Enforceability of Make-Whole or Prepayment Premiums
(DBN)

______________

Executory Contracts:

Sellers Celebrate: Delaware Bankruptcy Court Confirms that Assumption and Assignment of an Executory Contract Offers Protection from Preference Claims
(DBN)

______________

Bankruptcy Reform:

Report Shows Bankruptcy Reforms Raised Costs For Consumers and Creditors
(DBN)

______________

Litigation:

ESI Guidelines for the Bankruptcy Case: The ABA's Electronic Discovery in Bankruptcy Working Group Issues Interim Report
(DBN)

Judge Peck Stays Defendant MSL Production in 'Da Silva Moore'
(DBN)

______________

Mass Torts:

Extent of Non-Debtor Parent Exposure Under Channeling Injunctions
(DBN)

______________

Insurance:

BofA, SocGen Head to Trial Over MBIA's 2009 Restructuring --- Last Minute Fireworks Provide Preview of MBIA Restructuring Trial --- MBIA 'not-trial trial' starts with procedural whimper, no bangs
(DBN)

______________

Photography:

Kodak Nuclear Reactor Containing Uranium Housed In New York Facility For Over 30 Years
(DBN)

Kodak seeks expressions of interest for patents
(DBN)

______________

Student Debt:

Mark Cuban: The Student Debt Crisis Is The Biggest Economic Problem In America
(DBN)

Grandmothers' Social Security Garnished for Student Loans? Time to Fix the Broken Student Debt System
(DBN)

Taxpayers Fund $454,000 Pay For Debt Collector Chasing Students
(DBN)

______________

Pensions:

Judge grants Fund request for hearing on its several motions
(DBN)

______________

Fraud:

Investors Sue Auditor for Stanford Ponzi Fraud
(DBN)

AIG ex-CEO Greenberg eyes reversing NY fraud case
(DBN)

Ex-Goldman Director Opposes US Request to Limit Trial Defense
(DBN)

______________

Art:

The art of lending on art
(DBN)

______________

Corporate Reform:

What The CFPB Is Really After
(DBN)

The 'Whale Sized' Loophole In A New Finance Rule
(DBN)

DOJ Doesn’t Tally Execs Convicted in Financial Crisis Wrongdoing; Is Embarrassment the Reason?
(DBN)

Dodd-Frank opponents return to the drawing board
(DBN)

D.C. may be too small a dog to watch Wall St.
(DBN)

______________

Finance:

Crowdfunding: Who Will (and Who Won't)Be Doing It
(DBN)

______________

EU:

Eurozone debt crisis: the key charts you need to understand what's happening
(DBN)

The Hottest Question In Europe Today...
(DBN)

Germany can't ignore the austerity backlash
(DBN)

Euro zone economy avoids recession but split grows
(DBN)

Germany economy grows strong 0.5 percent in Q1 --- Grew Five Times More Than Forecast
(DBN)

Crisis Countries Need Anti-Tax Evasion Laws
(DBN)

______________

PIIGS:

Euro minsters plead with Greece to stay the course
(DBN)

Greece, euro exit and the drummer in the band
(DBN)

Greece Euro-Exit Debate Goes Public --- Will the Greek Exit Be Voluntary or Involuntary? --- How Europe can force Greece to exit the euro
(DBN)

Everyone's talking about the 'Grexit.' --- Greek Exit Would See Turmoil 'Kick Off' Again: Citi CIO --- Biggest Threat From 'Grexit' Not What You Think It Is --- Time to Admit Defeat - Greece Can No Longer Delay Euro Zone Exit
(DBN)

Greece to Pay May 15 Bond, Avoid Default
(DBN)

Greece's deputy PM: It's either austerity, or we run out of money in 6 weeks
(DBN)

Greece Gets Hint of Leeway From Euro Officials
(DBN)

Greek bank stocks are tanking as country may soon run out of cash
(DBN)

FAQ: Why is Greece in such trouble? And can it be fixed?
(DBN)

Greek Leftists Reject Proposal for Technocrat Government
(DBN)

De Guindos Calls for Eurogroup Greek Response for Spain
(DBN)

Why Everyone Is Panicking About Spain
(DBN)

Spanish and Italian Bond Yields Increase
(DBN)

Moody's Downgrades 26 Italian Banks --- Banks face more headwinds after downgrade --- Italy bank lobby slams Moody's "aggression against Italy"
(DBN)

Awful Italian GDP
(DBN)

Ex-Fiat Workers Occupy Two Sicily Banks
(DBN)

______________

Germany:

German Solar Company Sovello Files for Insolvency Restructuring
(DBN)

The New German Insolvency Code: Decoding Improvements and Remaining Risks
(DBN)

______________

MENA:

UAE set to approve new bankruptcy law by end-2012
(DBN)

______________

Czech Republic:

Czech Economy Extends Recession on Austerity Measures
(DBN)

______________

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Copyright 2012