May 7, 2012

The Daily Bankruptcy News

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Law:

Dewey's Fall Underscores Law Firms' New Reality --- Dewey warns of impending layoffs--- Sends WARN Notice --- Dewey & LeBoeuf takes steps to ward off bankruptcy --- It's Not Just Greed - Another Billion Dollar Law Firm Bites the Dust --- When Dewey WARN People? --- When Partners Aren't Really Partners --- Ex-Dewey partners contemplate legal action to recover unpaid profits --- The Cautionary Tale of Dewey & LeBoeuf --- As Dewey Sinks, Davis Backers Take Aim at Pierce Over Brother's Unpaid $9.6 Million Legal Tab --- Dewey & LeBoeuf's risky business --- A Living Lawyer Joke --- Top M&A Lawyer Leaves Dewey & LeBoeuf Law Firm --- Ex-Dewey executive director hires counsel --- Banks Take Step to Secure Interest --- Dewey Know When It’s Over? Source Says ‘We Work For The Banks Now’ --- A week in the life of Dewey & LeBoeuf --- Rivals eye Dewey's Silicon Valley M&A lawyers --- At Least 12 More Partners Exit Dewey & LeBoeuf for McDermott, Morgan Lewis and Pillsbury Winthrop --- Dewey Departure Tracker --- Recruiting Agencies at Dewey; Partners Relieved to Get $25K Draws --- Morgan Lewis to hire Dewey Moscow and Almaty offices and three more partners in London --- The Unbelievably Stupid Mistake Dewey LaBoeuf Made --- 200 London jobs at risk
(DBN)

Quinn Emanuel Will Pay Bonuses of Up to $30K
(DBN)

Practicing Business
(DBN)

Dewey, MoFo, Pillsbury, Cleary, Davis Wright: Business of Law
(DBN)

Fenwick & West, Latham, Sullivan & Cromwell: Business of Law
(DBN)

Weil Wants Your Weekend
(DBN)

Law adds 3900 jobs in April
(DBN)

London Layoffs Back --- Mayer Brown plans London redundancy round
(DBN)

Clifford Chance reviews underperforming partner arrangements
(DBN)

McGuireWoods names new London chief
(DBN)

Linklaters opts for small rises in 2012 associate pay review
(DBN)

Law Partners Getting Richer. Associates Not So Much
(DBN)

Survey: 66% of Law Firms Have Seen Recent Increase in Collections
(DBN)

Epic Departure Memo Follow-Up: A Five-Page Fax Says The Boss Is A Great Guy
(DBN)

An Attorney Chef? That’s So Crazy It Just Might Work
(DBN)

The Many Paradoxes of Managing Others
(DBN)

As If You Really Needed a New Distraction, Please Say Hello to #WhenInLawSchool (Like You Haven’t Already)
(DBN)

Law School Transparency: Using the legal process to silence critics
(DBN)

“If you want to help lawyers serve the poor, don’t charge $45,000 a year for law school.”
(DBN)

Buddha as JD: He would opt for law school today, even w $200+K debt
(DBN)

Is it Time to Teach Marketing in Law School?
(DBN)

It gets worse — organization underestimated law school debt
(DBN)

7th Circuit Slams Lawyer for 'Preposterous' Actions
(DBN)

Outraged Dad Says Law Firm and Insurer Snooped on Injured Girl's Facebook Page
(DBN)

Lawsuit of the Day: This General Counsel Is Allegedly A Teabag-Throwing Terror
(DBN)

Woman Assaults Cop With . . .
(DBN)

Juror Says He Drank Before DUI Death Case Verdict to Examine Mindset of Accused; Defense Cries Foul
(DBN)

Lawyer May Face Discipline Over Poetic Plea for Action
(DBN)

New Law Making Cursing of Muhammad A Death Penalty Offense
(DBN)

Say What?!
(DBN)

______________

Judges:

U.S. Bankruptcy Judge Thomas B. Bennett 'ideal person' at the center of precedent-setting trial
(DBN)

______________

Wall Street:

 

Investors Bail on Risk Assets After French, Greek Elections
(DBN)

Europe to weigh heavily on markets this week
(DBN)

______________

Layoffs:

Putting Our Slow Jobs Recovery Into Perspective --- Americans aren’t working
(DBN)

Boomers Retire and Alter the Jobless Rate
(DBN)

Job disability a headache for recovery
(DBN)

Jobs Few, Grads Flock to Unpaid Internships
(DBN)

The Jobless Young Find Their Voice
(DBN)

Pre-recession Employment Rate Out of Reach
(DBN)

29.5% of the unemployed (13.3 million people)have been out of work for a year or more
(DBN)

The Unemployment Rate Is Not The Most Important Thing --- Unemployment dip blemished
(DBN)

Job market dropouts
(DBN)

Where unemployment is tumbling
(DBN)

Jobs Report: More Dropping Out of Workforce --- Reeks Of Fraud
(DBN)

The Jobs Paradox: Weak Job Creation AND Falling Unemployment?
(DBN)

Financial Sector Added Just 1,000 Jobs in April
(DBN)

School-Buses Drive Job Losses in Transport Sector
(DBN)

What American Women Do For Work
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

______________

Municipalities:

Bankruptcy could have a silver lining
(DBN)

Experts say Detroit bankruptcy still a possibility
(DBN)

Court rejects challenge to Harrisburg's recovery
(DBN)

Tighter Rules Are Issued on Municipal Bond Deals
(DBN)

Altoona is broke and has lots of company
(DBN)

Bankruptcy judge: the court will not interfere with Jefferson County's authority over hospital
(DBN)

Communities face big questions on finances
(DBN)

The most, and least, safe states in America
(DBN)

______________

Pensions:

World spotlight on bankruptcy filing --- They want the pozzolan --- US Trustee also wants Fund Chapter 11 petition junked --- Fund’s $250K advance retainer for bankruptcy case 'exhausted' already
(DBN)
(DBN)

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Orchestras:

Philadelphia Orchestra Plans Fundraiser to Exit Bankruptcy
(DBN)

______________

Photography:

7 ex-Kodakers will be voice of retirees in court case
(DBN)

______________

Health Care:

2 laid-off Saint Catherine employees sue hospital's former presidents
(DBN)

All Smiles Dental Center files for bankruptcy following investigation
(DBN)

McLaren Health Finalizes Cheboygan Memorial Hospital Purchase, Changes Name
(DBN)

Recent Hospital Layoffs
(DBN)

______________

Religion:

Bankruptcy judge may release testimony of Milwaukee prelates
(DBN)

How the Church is airbrushing abuse out of its sacred history
(DBN)

______________

Politics:

Yet more on Liz Warren --- Defending Elizabeth Warren, undermining diversity --- Is Elizabeth Warren Native American? --- Brown, Warren race takes negative turn --- Warren's claim as Native American opens debate over ethnic ties --- Elizabeth Warren's presidential push --- Senate candidates' forthrightness put to test --- Lack of street smarts leaves Elizabeth Warren open to political arrows
(DBN)

FactCheck: Romney Dream of Bush Job Growth
(DBN)

______________

Autos:

Off the Hook? GM Doesn't Pay Federal U.S. Income Tax
(DBN)

Time for America to cash out of GM?
(DBN)

This Looks Very Bad For People Who Work At Car Dealerships
(DBN)

Collapse In Automobile Usage Is Completely Unprecedented In The American Economy
(DBN)

______________

Economy:

Depth of Recession Makes Recovery Look Worse
(DBN)

Hiring slows, unemployment falls
(DBN)

Breaking Down Disappointing Increase in Jobs
(DBN)

Consumer Confidence Gains, Led by U.S.
(DBN)

Future of US Middle Class Defined by China
(DBN)

Buffett: Obama beats Romney on economy
(DBN)

GE Capital: General Manufacturing CFOs Optimistic
(DBN)

Private Jobs Turn Positive for Obama Presidency
(DBN)

Fitch Says It's Unlikely to Downgrade US Before Elections
(DBN)

Paul Krugman: Austerity Is So Wrong!
(DBN)

Fewer jobs means more spending on U.S. Medicaid
(DBN)

Fed Report: The 2008 Crash Was Not Caused By 'Industry Insiders'
(DBN)

The Recession's Invisible Victim Is Trust
(DBN)

Structural Food Inflation Problem Is Crushing The Poorest People In America --- The Other America, 2012: Confronting the Poverty Epidemic
(DBN)

U.S. Treasury Sells $5 Billion of AIG Stock
(DBN)

The Sorry State Of The Global Economy
(DBN)

American companies with the most customers
(DBN)

Why Obama can't match the Reagan recovery
(DBN)

US Debt Clock
(DBN)

______________

Real Estate:

One Plus One . . . Plus One, Equals One: What Constitutes a “Single Project” in the Single Asset Real Estate Context?
(DBN)

Tumbling Homeownership Marks a Return to Normal
(DBN)

Time running out for Ally Financial's restructuring
(DBN)

Mortgage Rates for Friday, May 4, 2012 --- Workforce Dropouts Push Mortgage Rates to Record Lows
(DBN)

Homes about as cheap as they're gonna get
(DBN)

Obama Loan Mods Still Growing, But at Snail’s Pace --- HAMP 3 Years Later: 43% Stay with Obama's Mortgage Mods
(DBN)

April U.S. Home Prices Will Likely Turn Positive
(DBN)

Twelve Facts That May Surprise You About the Housing Bust
(DBN)

Foreclosed Houses Become Homes for Indoor Marijuana Farms
(DBN)

Mortgage Unit Troubles Ally Financial
(DBN)

Architects hit the road to survive property crash
(DBN)

Number of strategic defaults rising
(DBN)

The story of Annie, and the lesson behind it
(DBN)

Trepp: High CMBS multifamily delinquency rate unusual
(DBN)

Commercial Real Estate Hindered by Tight Credit, Realtors Say
(DBN)

_____________

Banking:

Moody's may cost Citi big --- Two-Notch Debt Downgrade For Citi Could Require $4.7 Billion In Extra Collateral
(DBN)

______________

Aviation:

Mechanics to meet, discuss offer by AA
(DBN)

American Airlines Fights Union Election
(DBN)

American Airlines tries to ground lifetime frequent flyers
(DBN)

Court approves Hawker Beechcraft's request to stay open during bankruptcy --- Court allows plane maker to pay workers --- Hawker Beechcraft collateral controversy could benefit sr. unsecured noteholders --- Debt, down market drove plane maker to bankruptcy --- Local leaders say they're watching incentive agreement --- PBGC faces big hit if Hawker Beechcraft folds pension plans --- Hawker filing may improve buyer confidence, aircraft brokers say --- Prearranged bankruptcy likely means new owner
(DBN)

Creditor claims against Pace Airlines being evaluated by judge
(DBN)

Direct Air refunds a lost cause
(DBN)

US market for business jets crashes
(DBN)

Air Canada still losing altitude
(DBN)

_____________

Boating:

Silverton Marine Corp. files for Chapter 11
(DBN)

______________

Fraud:

Bankruptcy judge vindicates victims of FRM Ponzi scheme
(DBN)

Rajat Gupta’s Lawyers May Try The “Everybody Was Doing It” Defense
(DBN)

$728M of Rigas family fortune going to victims
(DBN)

Midnight in the Garden of Good Faith: Using Clawback Actions to Harvest the Equitable Roots of Bankrupt Ponzi Schemes
(DBN)

Au revoir! Black out of prison — and US
(DBN)

______________

Celebs:

The Broke and the Beautiful: Octuplet Edition
(DBN)

Was it Smart for 'Octomom' to Declare Bankruptcy ?
(DBN)

Bankrupt Gary Busey -- Acting Crazy for $4500 a Week
(DBN)

______________

Agriculture:

Debtor In Possession: Colorado Pot Grower Files for Bankruptcy
(DBN)

______________

Education:

El Cerrito school reaches deal with bank to continue operations
(DBN)

______________

Debt Collection:

Nice Guy Debt Collection Becomes Broad Theme for the Week
(DBN)

______________

Tech:

Wringing Lessons From Microworkz's Failure
(DBN)

______________

Corporate Reform:

4 Years On: Regulation of Markets Still Spotty
(DBN)

Elizabeth Warren calls for House Republicans to back off Consumer Financial Protection Bureau
(DBN)

Cordray: Regulators need a certain humility
(DBN)

House GOP: Cordray 'Wholly Unresponsive' On CFPB Budget Questions
(DBN)

______________

Student Debt:

The Crushing Burden of Student Debt
(DBN)

How to Finish College With No Debt
(DBN)

End Student Debt!
(DBN)

______________

Lehman:

Lehman Asks Judge to Reconsider Some Claims Against JPMorgan
(DBN)

Judge Blocks $90 Million Insurance Settlement for Lehman Directors, Officers --- Judge Demands Details About Fuld's Wealth
(DBN)

______________

Radio:

Nassau Broadcast Holdings objects to sale of six Partners' properties
(DBN)

______________

Trucking:

YRC nails down credit lifeline
(DBN)

______________

Telecoms:

Icahn sells LightSquared debt
(DBN)

______________

Non-Profits:

Competitors in limbo after State Fair of Virginia bankruptcy
(DBN)

______________

Horse Racing:

Time running out for Yavapai Downs race season
(DBN)

______________

Hedge Funds:

Paulson Hedge Fund Said to Extend Slump With April Loss
(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 (29 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (60 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 Sexual Abuse, Dynegy, Fewer Bankruptcies (audio)
(DBN)

Bankruptcy Week Ahead
(DBN)

Goldstein: Understanding Consequences is Critical: Video
(DBN)

A Capitalist’s Love Ballad to Bankruptcy
(DBN)

______________

Bankruptcy Statistics:

NH: Personal bankruptcies plummet, while business bankruptcies creep up
(DBN)

Hawaii Bankruptcies Decline for 14th Straight Month
(DBN)

Bankruptcy filings drop in NO area
(DBN)

Avoiding The Next Nortel
(DBN)

Interactive Bankruptcy Statistics Map
(DBN)

______________

Litigation:

Here comes the shareholder litigation
(DBN)

Troika atop M&A plaintiffs' bar
(DBN)

For some shareholder litigators, a bull market in awards
(DBN)

Third-party litigation funding
(DBN)

______________

Interest:

Benefit of the Bargain: SDNY Bankruptcy Court Affirms Presumption of Contractual Default Rate for Oversecured Creditors’ Postpetition Interest
(DBN)

______________

Obits:

Walter Thurmond
(DBN)

______________

Media:

Tribune bankruptcy judge authorizes up to $45 million in bonuses
(DBN)

______________

Home Improvement:

Liquid Asset Partners to Liquidate Contract Builders & Express
(DBN)

______________

Electricity:

GE Capital Coal-Plant Bankruptcy Plan Spurs S&P Cut on Debt
(DBN)

______________

Retailing:

Sears chief Eddie Lampert focuses on minutiae, showing little interest in crucial needs of stores
(DBN)

______________

Alternative Energy:

Court to hear shareholder's bid to halt sale of ECD's assets
(DBN)

______________

Protests:

Cops picking up sober Occupiers and Drugging them for "Training"?
(DBN)

______________

Mail:

Postal closures likely to start this summer
(DBN)

______________

Food/Beverage:

Truitt Brothers unable to secure financing for Snokist bid
(DBN)

______________

Banking:

Let’s Worry About Bank of America’s Collateral Triggers --- Moody’s may cost Citi big
(DBN)

NY judge can review BofA directors' settlement-ruling
(DBN)

FDIC closes small bank in Florida
(DBN)

The Silver Lining Of Bank Downgrades
(DBN)

_____________

Buses:

Coach America seeks extension to exclusivity period
(DBN)

______________

UK:

Rise in bankruptcies sparks warning
(DBN)

Tide of insolvencies still to envelop UK
(DBN)

Insolvencies rise amongst wealthy, rural dwellers and pensioners
(DBN)

SMEs advised to tread with caution as corporate insolvencies escalate
(DBN)

Property and hospitality suffer as Scots firms go bust at record rate
(DBN)

Number of pensioners in debt doubles
(DBN)

Scottish business failure rate 40% above UK average in Q1
(DBN)

Insolvency figures hide true picture of debt in the UK
(DBN)

High street bankruptcy claims up 180pc
(DBN)

______________

EU:

Eurozone Deteriorating at a Disastrous Pace
(DBN)

Angry European Voters Elect Left-Leaning Leaders
(DBN)

French and Greek elections put euro austerity consensus at risk
(DBN)

______________

PIIGS:

Greeks maul pro-bailout parties: exit polls --- The coming revolt against austerity
(DBN)

Greek Election Surprise Rejects ‘Barbarism’ of Bailout Austerity
(DBN)

Be afraid, exultant Greek neo-Nazis warn rivals
(DBN)

Greek Stocks Slide Most Since October 2008
(DBN)

Greeks Are Expected to Make Old Guard Pay for Turmoil
(DBN)

Greece to pay back debt "when possible"
(DBN)

EU funding for Greece could cease
(DBN)

Private clinics facing bankruptcy
(DBN)

`New Athens' May Help Greece Pay Off Debt
(DBN)

The ghost houses of Ireland
(DBN)

Madness in Spain Lingers as Ireland Chases Recovery
(DBN)

Schaeuble Sends Warning on Greek Elections
(DBN)

The Denial on Housing in Spain
(DBN)

Spain to present bank clean-up measures Friday
(DBN)

Spanish Banks Resist Idea of 'Bad Bank' Bailout
(DBN)

______________

Germany:

High Cost of Germany's Economic Success
(DBN)

______________

Canada:

A Priming DIP in Québec? Beau Dommage !
(DBN)

______________

MENA:

UAE revises bankruptcy law
(DBN)

______________

Japan:

Micron likely winner in bid for Japan's Elpida
(DBN)

______________

Cayman Islands:

Guide To Cayman Islands Insolvency
(DBN)

______________

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Copyright 2012