May 9, 2012

The Daily Bankruptcy News

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Law:

Leaders Remain at Dewey as Nearly 30 More Partners Stream Out the Doors --- Why More Law Firms Will Go the Way of Dewey & LeBoeuf --- Will Thelen and Coudert save Dewey's poachers? --- Dewey Know When LeBoeuf Is Cooked? When Associates Are Laid Off En Masse --- For Dewey Associates, the Beginning of the (Very)End? --- From 'Drip Torture' to Closure: Dewey Begins Laying Off Associates --- Dewey's Announced Losses Rise to One-Day Record of at Least 18 --- Dewey Loses Four Partners to Akin Gump, Dechert Firms --- Dewey Departure Tracker --- Two DC partners from Dewey & LeBoeuf jump to Bracewell & Giuliani --- Weil hires Dewey West Coast corporate team as Italy prepares to spin off --- 6-person Dewey real estate team heads to Venable --- More Dewey rainmakers leave for other firms --- Visualizing the Dewey & LeBoeuf Implosion --- More Dewey rainmakers leave for other firms --- Dewey Have Any Partners Left To Be Poached? --- Dewey & LeBoeuf employees mull future --- No guarantee of London associate pay after 31 May
(DBN)

A Trusted Adviser in the New Normal Must Be Like a Symphony Conductor
(DBN)

Lawyer Says Perkins Coie Makes the Staff Bear Its Costs
(DBN)

Willkie represents Dubai Fund in Barneys New York Restructuring --- Simpson Thacher Represents Perry Capital
(DBN)

Study Shows CEO Pay Up for Second Year in a Row
(DBN)

Freshfields NQs to make at least £65k as new merit pay system kicks in
(DBN)

Don’t Underestimate Lawyers’ Resistance to Change, Seyfarth Shaw Chairman Says
(DBN)

Are Women Ambitious Because They Can't Find a Hubby?
(DBN)

Huge Exam Screw-Up Requires Class to Retake Portions Of Test
(DBN)

Law School Transparency: Half as many students at half the price
(DBN)

Do not ask for whom the bellwether tolls . . .
(DBN)

Cooley's Florida campus more popular than forecast
(DBN)

Writer-lawyer's first novel drawing rave reviews
(DBN)

Cops: Parents Used Kids As Hood Ornaments
(DBN)

Attorney Faces Discipline for Allegedly Cursing in Court
(DBN)

April Lawyer of the Month: A Biglaw King Without a Crown
(DBN)

Mug Shots
(DBN)

Say What?!
(DBN)

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Judges:

New Bankruptcy Judge Bill Echoes Previous Effort
(DBN)

More Cuts Expected to CA Court System Already Reeling From Ax
(DBN)

Senate Confirms First Asian American Woman to Federal Appeals Court
(DBN)

Judge Will Be Ousted for Pursuing Lawyer; Order Is Effective One Day After Pension Vests
(DBN)

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Wall Street:

Stock futures lower amid Europe turmoil
(DBN)

S&P 500 Falls to Lowest Level in Two Months Amid Greece Concern
(DBN)

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Layoffs:

March job openings were the highest in almost four years
(DBN)

The Real Reasons People Drop Out of the Workforce
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

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Municipalities:

California Lawmaker Pushes New Municipal Bankruptcy Limit
(DBN)

Six Months Into Alabama County Bankruptcy , Services Fray
(DBN)

Jefferson County job tax bill clears another hurdle --- Occupational tax bill rewritten to exclude non-residents
(DBN)

Jefferson County Makes Alabamians Suffer Cost Boost
(DBN)

Judge orders Jeffco to report on rate study every 45 days
(DBN)

Official warns West Warwick about pension crisis
(DBN)

Stockton: City ups payment to outside consultant
(DBN)

Moody's praises Providence for paring back pension benefits
(DBN)

Rahm: Raise Retirement Age to Save Pensions
(DBN)

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Convenience Stores:

Getty Looks to Place GPMI Bankruptcy in its Rearview Mirror
(DBN)

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Autos:

Romney: "I'll take a lot of credit" for auto industry revival --- Say, What? --- Fact checking Romney's claim for credit in auto rebound --- Does Mitt Romney Deserve Credit for Saving Detroit? Not Quite --- Romney silent after claiming credit for auto industry comeback --- Romney Backers Who Opposed Auto Bailout Stumped --- Democrats drill Romney over bailout claims --- UAW President Bob King: Mitt Romney Would Not Have Saved Us --- Another Point On The Auto Bailout --- What Mitt Romney should have said about the auto industry
(DBN)

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Food/Beverage:

Del Monte, Pacific Coast Producers prevail in Snokist bidding
(DBN)

Lawyer: Ex-Mamtek CEO used bond money for Beverly Hills home
(DBN)

Fertitta unit to settle claims over Xyience
(DBN)

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Oil/Gas:

An Old Texas Tale Retold: the Farmer vs. the Oil Company
(DBN)

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Corporate Reform:

SEC to hire investigator to probe agency watchdog
(DBN)

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Economy:

Americans Have More Debt Than Savings
(DBN)

The Recovery Squeezes the Middle Class
(DBN)

Treasury yields sink as turmoil deepens in Greece
(DBN)

5 friendliest states for small business
(DBN)

What the Retirement Bubble Means to You
(DBN)

Will Rich Leave US if Their Taxes are Raised?
(DBN - NY Times - Paywall Limit Possible)

US Debt Clock
(DBN)

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Real Estate:

BofA contacting homeowners under mortgage settlement
(DBN)

Fannie, Freddie work to pay down principal in California
(DBN)

Freddie Mac refinancings reduce mortgage interest rates 27% on average
(DBN)

HUD secretary says some homeowners received $100K+ in principal reductions
(DBN)

Experian: Mortgage lenders looking to draw lower-credit borrowers
(DBN)

Dallas Fed Bank CEO sees housing bottom, no need for more stimulus
(DBN)

US banks continue to suffer mortgage pain
(DBN)

Top Fla. Court to Hear Landmark Foreclosure Fraud Case This Week Despite Parties’ Agreed Dismissal
(DBN)

Bankruptcy may be best option for Ally's mortgage unit --- Ally's ResCap Deal May Pave the Way for Sale, IPO
(DBN)

Lehman Says Archstone Co-Owners Are Breaching Contract
(DBN)

Utah developer Terry Diehl has initial bankruptcy hearing
(DBN)

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Corporate Governance:

Savient says DE court denies creditor's injunction request
(DBN)

Did Say On Pay Cost A CEO His Job?
(DBN)

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Compensation:

IPhone costs Sprint CEO $3.25 million
(DBN)

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Debt Collection:

Rahm Emanuel weighs in on Accretive dispute
(DBN)

Franken chides embattled medical debt collector for dragging feet on questions
(DBN)

Bad News for Most Debt Collectors and Good News for Consumers
(DBN)

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Retailing:

Lenders take the keys to Barneys closet --- Gets New Owner, Ends Debt Troubles
(DBN)

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Health Care:

Charlton hospital files Chapter 9 bankruptcy
(DBN)

HearUSA bankruptcy plan confirmed
(DBN)

The Accretive matter is a wake-up call for hospitals: examine your debt collection and revenue cycle practices ASAP
(DBN)

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Non-Profits:

Auction set for Virginia State Fair complex
(DBN)

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Oil/Gas:

Delta Petroleum Plan Would Transfer Assets To A New Company
(DBN)

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Student Debt:

National Consumer Law Center Paints Bleak Picture of Student Loan Collections
(DBN)

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Aviation:

TWU takes dim view of AA's contract offer
(DBN)

AMR posts 11.6 percent jump in unit revenues
(DBN)

Pinnacle Airlines to shutter ground-crew operations; unions ‘outraged’
(DBN)

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Fraud:

Fraud case vs AIG ex-CEO Greenberg cleared for trial
(DBN)

SEC charges movie producer with insider trading
(DBN)

Rajat Gupta Shouldn’t Be Able to Argue Selective Prosecution, U.S. Says
(DBN)

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MF Global:

MF Global's KPMG and Lehman's PWC seek legal clarity
(DBN)

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Radio:

Bidders bypass stations during bankruptcy auction
(DBN)

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Rating Agencies:

Rating Agencies Must Defend Negligent Misrepresentation Claims for Toxic SIV Ratings
(DBN)

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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 (39 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (82 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:

AZ: Overall bankruptcy filings down, but Ch. 11 stays level
(DBN)

Interactive Bankruptcy Statistics Map
(DBN)

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Avoidance Actions:

Anadarko Petroleum Judge Limits Claims in $25 Billion Suit
(DBN)

Eleventh Circuit Holds that Indenture’s “No-Action” Clause Bars Fraudulent Transfer Actions by Individual Noteholders
(DBN)

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Guarantees:

Lessons Learned from Nortel Senior Notes: "Single Satisfaction" of the Guarantee Claims in Chapter 11
(DBN)

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Plan Confirmation:

Seventh Circuit Expands its View on Indubitable Equivalent Cramdowns in In re River East Plaza, LLC
(DBN)

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Trustees:

Third Circuit Rules Leave Must Be Granted to Sue Bankruptcy Trustees
(DBN)

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Insurance:

Is D&O coverage pot of gold -- or brick wall?
(DBN)

Guide To D&O Liability Insurance
(DBN)

Recent Developments Regarding the Interface between Insurance and Bankruptcy
(DBN)

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Media:

Tribune Seeks To Block Appeal, Ward Off Delay In Chapter 11
(DBN)

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Pensions:

Senate, retirees group CRA want Fund's bankruptcy filing junked
(DBN)

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Risk:

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

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Celebs:

Octomom House Auction: Nadya Suleman Wants 'Bigger House'
(DBN)

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Golf:

Willow Run's future hanging under legal haze
(DBN)

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Politics:

Brown to Warren: Prove You're Part Cherokee --- Scott Brown Goes Birther on Elizabeth Warren --- Law professor: Warren’s ancestor rounded up Cherokees before Mass. GOP Chairman Charges Warren with Possible Academic Fraud --- Trail of Tears --- Warren's smoke signals — another dishonest pol --- What’s Really at Stake in the Controversy Over Elizabeth Warren’s Past Claims of Native American Ancestry --- Rasmussen Poll shows Elizabeth Warren tied with Scott Brown
(DBN)

Brown blasted on student loan vote
(DBN)

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Banking:

Wells Fargo says it may face fair lending claims
(DBN)

______________

UK:

Rangers Lose Preferred Bidder as Miller Drops Offer for Team
(DBN)

More trouble on the High Street
(DBN)

______________

EU:

EU Uses Hollande's Victory, Greek Tumult to Preach Growth
(DBN)

In Europe, a storied way of life comes under threat as economic gloom deepens
(DBN)

European leveraged loan returns sag as sovereign debt fears return
(DBN)

Roubini: Europe Turmoil 'Slow Motion Train Wreck'
(DBN)

______________

PIIGS:

Greece sinks deeper into crisis, chance of govt fades --- Greece Likely to Exit Euro This Year
(DBN)

Italy: 'Three-thousand' businesses file for bankruptcy in 1Q
(DBN)

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Copyright 2012