May 24, 2012

The Daily Bankruptcy News

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Law:

Dewey & LeBoeuf 'Business Developments' Hold Up Dodgers Billing --- Dewey’s Downfall Took Weeks; Clean-Up Looms for Years --- Former Dewey Partners Hire Lawyers for Possible Clawback Claims --- Dewey & LeBoeuf Preparing Bankruptcy Filing. Anyone Surprised? --- Joyce Chan, Heng Loong Cheong exit Dewey & LeBoeuf for DLA
(DBN)

What the Future Looks Like for Lawyers
(DBN)

Firm shake-ups reveal weaknesses of conventional wisdom
(DBN)

WilmerHale, Jones Day, Dechert: Business of Law
(DBN)

Goodwin, Gibson Dunn, Baker & McKenzie, Dewey: Business of Law
(DBN)

The governments' man when creditors bay
(DBN)

Greenberg Traurig Adds Bankruptcy Attorney Howard Steinberg
(DBN)

Restructuring Partner Jeffrey Krause Joins Gibson Dunn's Los Angeles Office
(DBN)

Chapter 7 Bankruptcy Trustee Allison D. Byman Joins Hughes Watters Askanase as Of Counsel
(DBN)

Shearman & Sterling Advises on $500MM DIP Loan for Houghton Mifflin
(DBN)

Steptoe Advises Stagecoach on Acquisition of Coach America
(DBN)

Preliminary compensation data on general counsel in smaller law departments
(DBN)

Dechert Opens in Chicago With Katten Muchin Trio
(DBN)

Aggressive Chicago prosecutor Fitzgerald to step down
(DBN)

Crowell & Moring Settles Suits Over Alleged Thefts
(DBN)

Even Single People Give Up Pay for Work-Life Balance; Ex-BigLaw Lawyer Is an Example
(DBN)

Really, You Don't Want to Stay Home
(DBN)

Green Acres: How To Get Away From It All (Including Your Student Loans)
(DBN)

How To Network Without Getting Wasted
(DBN)

Lawyerly Lairs: The Five Most Expensive Attorney Abodes in Washington, D.C.
(DBN)

Are You Ready For The Summer?
(DBN)

Rutgers Law Dean Offers Nonsensical Response To Transparency Criticism
(DBN)

Law School Transparency: Mid game
(DBN)

A Law Firm Lawsuit-Palooza That's Long Overdue
(DBN)

Bryan Cave's Law Library: Tweeting At The Cave
(DBN)

In-House: "The traffic, outrageous cost of living, and the thought of actually having to get in shape, deter me from thoughts of moving to L.A."
(DBN)

Twice-Jilted Would-Be Groom Sues Former Fiancee for Wedding Deposits, Her Share of the Rent --- Ex-Hooters Girl Says ‘I Don’t’
(DBN)

The Evil of “Unadulterated Freedom”: Roughly 40,000 Orthodox Jewish Men Gather In New York Stadium To Denounce The Internet
(DBN)

Doctor Who Helped Find Bin Laden Is Imprisoned
(DBN)

Police: Drinking man brought zebra, parrot along for ride
(DBN)

Must Love Cats: Man divorces over wife's 550 house cats
(DBN)

'Your Honor, I Call the Alligator'
(DBN)

Say What?!
(DBN)

______________

Judges:

Retired Justice Stevens Hits ‘Misleading’ Parts of Bush v. Gore, Suggests Extension of Rationale
(DBN)

Obama Health Care Hangs on Clause Queried by U.S. Court
(DBN)

"Got my ninjas"
(DBN)

Complaint filed against Mich. SC justice over allegations
(DBN)

Some Federal Judicial Congratulations — and a Bit of Trivia
(DBN)

Bankruptcy Judgeship Bill Passed In Congress
(DBN)

Lavish Perk for Court Bureaucrats Attacked by Senate Committee
(DBN)

______________

Wall Street:

Stock index futures point to lower start
(DBN)

World stocks down as worries over Greece grow
(DBN)

Stocks tumble amid euro concerns
(DBN)

Morgan Stanley Fights Back Over Facebook
(DBN)

Class Claims Facebook, Banks Played Favorites --- Suit Claims Facebook and Underwriters Failed to Disclose Slow-Revenue Forecasts --- More Details About How Big Facebook Investors Got Inside Info--And Little Guys Got Hosed --- Facebook IPO Debacle Triggers Legal Debate Over Selective Disclosure Rules --- Facebook's Bankers Made $100 Million As They Helped The Stock Find Its Feet --- Who really lost in Facebook's deal --- The Rush For The Exits Doomed Facebook's Stock --- As critics lay siege to Facebook, Zuckerberg is MIA --- Facebook CFO in hot seat after boosting IPO size at last minute --- 11-year-old investing prodigy Sam Lesser filed a dispute to cancel order for 300 Facebook shares --- What’s Been Happening at Facebook Since the IPO? --- Facebook: The List of Incompetents
(DBN)

______________

Layoffs:

Every State With A Falling Unemployment Rate Has This In Common
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

______________

Food/Beverage:

Bankrupt Arctic Glacier considers merger with bankrupt rival
(DBN)

______________

Tax:

IRS Extends Taxpayer Forgiveness Program
(DBN)

Wegelin Bank Fails to Appear for Arraignment in U.S. Court Case
(DBN)

When a Swiss Bank Is on the Run
(DBN)

______________

Autos:

Autoworkers Pushed to Limit as Plants Maxxed
(DBN)

Moody's: GM on Track for Investment Grade
(DBN)

Automaker Youngman gives up purchase of Saab
(DBN)

Sign of the Times? Car Buyers Stretch on Loans
(DBN)

______________

Coal:

Patriot's woes highlight coal industry struggles --- ?S&P cuts ratings for Patriot Coal --- Cut After Saying Still Talking to Banks --- May cut further --- Before Bottom Fishing For Patriot Coal, Consider This
(DBN)

Estimating The Risk Of Arch Coal Using The Altman Z-Score
(DBN)

______________

Retailing:

Stark images of abandoned malls and big-box retailers
(DBN)

Tiffany Is Plunging After Bad Earnings And A Guidance Cut
(DBN)

______________

Orchestras:

Orchestra files plan for exiting bankruptcy
(DBN)

______________

Telecoms:

Lenders question LightSquared's chances of future success
(DBN)

______________

Pensions:

Bankrupt In Paradise
(DBN)

______________

Radio:

Worldspace stripped bare by lawyers
(DBN)

______________

Oil/Gas:

June 14: Cadwalader Distressed Energy Investments Program
(DBN)

______________

Economy:

CBO Warns of US Falling Off a Fiscal Cliff
(DBN)

Economic Confidence in U.S. Hits New High
(DBN)

Gov't Spending Under Obama Lowest in 50 Yrs
(DBN)

Wealthy Americans Turn to Trusts to Shield Assets
(DBN)

Americans top wealth rankings, but at a cost
(DBN)

Alan Simpson's Hilarious Letter Attacking 'Greedy Geezers' Over Social Security Reform
(DBN)

A Brand New Economic Datapoint That's Never Existed Before In America
(DBN)

The 10 Countries With The Absolute Worst Quality Of Life
(DBN)

World’s Richest Woman
(DBN)

Coburn: US "going to get another downgrade "
(DBN)

An Exit From Europe Would Be Our Own Greek Tragedy
(DBN)

US Debt Clock
(DBN)

______________

Real Estate:

BofA Will Buy Back $330 Million of Mortgages From Freddie
(DBN)

FHFA Home Price Index Rose 1.8% In March
(DBN)

New Home Sales Rise 3.3% to 343,000 in April --- Existing Home Sales Rose 3.4% to 4.62 Million In April
(DBN)

Welcome to the mortgage-free housing recovery
(DBN)

Current Mortgage Rates
(DBN)

Fitch: Residential Prices Nearing Bottom, Attracting Investment
(DBN)

Nearly 40% of Mortgage Settlement Cash Diverted By States --- Billion Dollar Bait & Switch --- Where Are the Foreclosure Deal Millions Going in Your State?
(DBN)

Bankruptcy court decision in Illinois holds that mortgage can be avoided because of failure to include loan terms in mortgage document
(DBN)

Brooklyn judge overturned on foreclosure case
(DBN)

Oral promise to delay foreclosure means nothing, Eight Circuit rules
(DBN)

Bank of America, MERS Lose Bid to Dismiss Texas Fee Suit
(DBN)

Fortress Seeks Servicing Rights From $4 Trillion Sale
(DBN)

Citigroup Global Markets Fined $3.5m for Providing Inaccurate Subprime Securitization Performance Data
(DBN)

JP Morgan To Sell $159.5 Million Distressed Loan CMBS
(DBN)

New York Federal Court Upholds Jurisdiction Over Foreclosure of Securitized Commercial Mortgage
(DBN)

The Enforcement of Non-Recourse Carveouts in CMBS Loans: A Recent History
(DBN)

AIG Can’t Pursue Some Countrywide Claims in $10 Billion Lawsuit
(DBN)

Bankruptcy Judge Gives ResCap Approval To Stop Funding HELOCs
(DBN)

Mastro Creditors Unlikely to Recoup More Money in Near Future
(DBN)

In IndyMac, U.S. SEC Dealt Blow in Financial Crisis Case
(DBN)

Survey: Distressed Homeowners Peg Family And Friends For Cash Help
(DBN)

Jackson Green's case to be converted
(DBN)

____________

Aviation:

American Airlines experts disagree with unions' experts
(DBN)

______________

Consultants:

S&P cuts AlixPartners LLP rating to 'B+'
(DBN)

AlixPartners Bolsters Its Presence in Japan
(DBN)

______________

Oil/Gas:

Trader with ‘Scattered’ History Sees Another Company into Chapter 11
(DBN)

______________

Utilities:

BEC calls on bankruptcy court to evaluate data
(DBN)

______________

MF Global:

MF Global hits PBS
(DBN)

CME execs defend actions after MF Global collapse
(DBN)

Top Senate Republican Prepares Subpoena for CFTC Chairman Over MF Global
(DBN)

______________

Banking:

Wells Fargo doesn't employ the same kind of hedging strategy that led to $2bn JPMorgan loss
(DBN)

JPMorgan's Big Loss: Why Banks Still Haven't Learned Their Lesson
(DBN)

Those JPMorgan 'In Trouble' Rumors
(DBN)

Fed data expose US$100bn JP Morgan blunder
(DBN)

The Modest Worth of Big Banks
(DBN)

Stop the Big Banks Before They Can Lend Again
(DBN)

A Danger Lurking in the Shadows
(DBN)

Two senators want bank executives banned from Fed boards
(DBN)

Wells Fargo Accidentally Gave This Guy $70,000 And Now He's Facing Jail Time
(DBN)

Why Foreign Banks Are Shunning American Millionaires
(DBN)

______________

Resorts:

Paulson-Led Group to Sell Hotels to End Their Bankruptcy
(DBN)

______________

Consultants:

Huron Consulting Group Adds Restructuring And Financial Advisory Expert Geoffrey Frankel
(DBN)

______________

Student Debt:

Private Student Loans Are Becoming More Competitive
(DBN)

______________

Publishing:

Houghton Mifflin Harcourt launches DIP/exit loans
(DBN)

______________

Alternative Energy:

Solar Insurers Turn Kingmakers Over Panel Survival Doubts
(DBN)

______________

Health Care:

Saint Vincent's plan gets approved
(DBN)

CA: Sharp Rise in $1M Hospital Bills
(DBN)

Rising prices, not increasing consumption, are driving America's soaring healthcare costs
(DBN)

Why The Media 'Can't Handle the Truth' About Accretive Health
(DBN)

How can Obamacare succeed? Romneycare offers a few clues.
(DBN)

______________

Corporate Reform:

Why Regulating Bank Fees Is Like Whack-A-Mole
(DBN)

All of the sudden executives want to go to trial against the SEC
(DBN)

Republicans don’t like regulations, except for when they do
(DBN)

______________

Compensation:

Say-on-Pay Scorecard: 2012 vs. 2011 (So Far)
(DBN)

______________

Education:

Private East Texas college furloughs workforce
(DBN)

______________

Risk:

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

______________

New Bankruptcy Opinions
(2 new opinions
today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (36 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (12 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 Houghton Mifflin, Kodak, United Airline (audio)
(DBN)

______________

Bankruptcy Statistics:

 

Interactive Bankruptcy Statistics Map
(DBN)

______________

Priority Claims:

Bankruptcy Court Decision Lights Up the Priority Accorded to Excise Taxes
(DBN)

______________

Avoidance Actions:

Akanthos: Eleventh Circuit Denies Noteholders’ Fraudulent Transfer Claims due to No-Action Clause in Indenture
(DBN)

______________

Litigation:

Challenging Predictive Coding to Better Defend It
(DBN)

D.C. Appeals Court Hears Litigation Outsourcing Contract Dispute
(DBN)

Court Reporters Lose a Key Battle in Fight Against 'Non-Stenographic' Recordings
(DBN)

______________

Aviation:

Witness returns to court with shattered elbow, blames judge (sort of)--- Testimony ends in American Airlines' efforts to throw out its labor contracts
(DBN)

AA's American Eagle details management layoffs
(DBN)

CEO of American Eagle eyes post- bankruptcy plans --- American Eagle may still be sold or spun off to shareholders
(DBN)

Pilots Invite United Airlines Execs to Tour 'LAX Ghetto'
(DBN)

Passengers stranded as Sweden-based City Airline collapses --- SAS weakened by Skyways bankruptcy
(DBN)

Commander bankruptcy delayed for fourth time
(DBN)

______________

Fraud:

Is Help On the Way for Investors Defrauded in Ponzi Schemes?
(DBN)

Madoff and Trustee Incentives
(DBN)

Ninth Circuit Affirms Dismissal of Ponzi Scheme Allegations Against JPMorgan
(DBN)

Gupta trial jury told about 'top secret' Buffett deal --- Gupta Lawyer Says David Loeb on Tape Passes Tip to Rajaratnam --- Galleon Partner's Eyes Were 'Popping' After Trade, Witness Says --- Foundation, Your Honor! No, Relevance! Finding Objection in Day 3 of U.S. v. Gupta --- Beware the Key Card, Gupta Trial to Show
(DBN)

In Gupta trial, what is insider trading?
(DBN)

First wiretap played at Gupta insider-trading trial
(DBN)

"U.S. v Gupta" - Will defense be able to present David Loeb allegation to jury?
(DBN)

Ponzi scheme defendant sentenced to 50 years in prison
(DBN)

Goldman blames hedge fund victim in Hudson CDO fraud case
(DBN)

Businesses more willing to use bribery and fraud
(DBN)

______________

Municipalities:

Stockton's slow walk toward possible bankruptcy slows --- Stockton 'can avoid bankruptcy,' Fritchen says
(DBN)

Lawmaker saps trust with city bankruptcy bill
(DBN)

South Bay School Districts Could Face Bankruptcy
(DBN)

PA cities: Closer to bankruptcy ?
(DBN)

Philadelphia Facing $1.1 Billion Gap May Close Schools
(DBN)

Alabama's Jefferson County votes to skip bond payment
(DBN)

Jefferson County's GOs are unsecured claims.
(DBN)

Vallejo Council, public, wrestles with new budget in post- bankruptcy
(DBN)

______________

Politics:

Elizabeth Warren Paints JPMorgan as Purse Thieves
(DBN)

Poll: Still a dogfight in Massachusetts --- Indian Flap Not Hurting
(DBN)

The diversity of Elizabeth Warren
(DBN)

Professor to Politician
(DBN)

Obama campaign blames Romney's ex-firm for hundreds of Michigan layoffs
(DBN)

Obama's Thin Lead Grows Thinner
(DBN)

Don't take the Bain bait --- Tall Tales About Private Equity
(DBN)

Is Newt Gingrich Really As Poor As A Church Mouse?
(DBN)

Experts: Congress is Flat Out Broken
(DBN)

______________

UK:

UK: Selective expansion begins to replace cost-cutting
(DBN)

Remaining advisers must pay for others' insolvency
(DBN)

Retail sector will experience most insolvencies in 2012
(DBN)

UK business failures drop in April
(DBN)

Conflict of interest concerns over Duff & Phelps Rangers role
(DBN)

Bankruptcy changes 'will mean decades of poverty'
(DBN)

U.K. Economy Shrinks More Than Estimated on Building Slump
(DBN)

______________

EU:

Euro Crisis: Is the Currency (Finally)Doomed?
(DBN)

Euro Sinks Further Amid Search for Solution to Crisis
(DBN)

Euro Zone Crisis Intensifies as Leaders Argue
(DBN)

______________

PIIGS:

Greece to Exit Euro, New Currency to Fall 60%: Citi --- War-Gaming Greek Euro Exit Shows Hazards in 46-Hour Weekend --- Germany holds a gun to Greece's head --- Greece Needs Europe. The Latest Numbers Show It --- Greek Euro Exit Being Considered: Former PM Papademos --- Greece denies contingency plans for euro exit ordered --- A round-up of economists' estimations of the fallout from Greece leaving the euro --- In Europe, Time for Plan B, Only There's No Plan, and No Time --- Greek Tycoons Lay Low as Nation Turns Leftward
(DBN)

Spain to Recapitalize BFA- Bankia as Lender Needs $11 Billion --- Spain struggles to meet regions' 36 billion euros debts
(DBN)

______________

Canada:

KPMG builds Canada's pre-eminent restructuring and turnaround practice
(DBN)

Finally, creditors vote on future of Catalyst Paper?
(DBN)

_____________

Germany:

German Manufacturing Output Falls To A 35-Month Low
(DBN)

Germany ‘Island of Happiness’ No More; Confidence Falls
(DBN)

______________

MENA:

Dubai prisoners on hunger strike over debt sentences
(DBN)

Egyptians choose their leader for first time in 5,000 years
(DBN)

______________

China:

World Bank warns of China slowdown
(DBN)

China's manufacturers still hurting
(DBN)

______________

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Copyright 2012