November 9, 2012

The Daily Bankruptcy News

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Due to the Veterans Day holiday, The Daily Bankruptcy News will not publish on Monday, Nov. 12, 2012

Law:

Bonus Watch: Are Hours Requirements Getting Blown Back?
(DBN)

MoFo Names Bankruptcy Partner As New Head of New York Office
(DBN)

The legal recovery has stalled out
(DBN)

Growth is Dead: Part 11-Granting Your Wish
(DBN)

Midsize law firms upbeat—cautiously—about 2013
(DBN)

Report: Sluggish Third Quarter Suggests Firms' 2012 Revenues Will Lag 2011's Modest Gains
(DBN)

Simpson Thacher, Allen & Overy, Skadden: Business of Law
(DBN)

SNR Denton Merger, Skadden, Wachtell: Business of Law
(DBN)

Think Deal Lawyers Are Adding Value to Mergers? Think Again, Law Profs Say
(DBN)

Seven Hang-ups That Will Ruin Your Rainmaking
(DBN)

Lawyer Sues Con Ed on Behalf of Neighborhood Over Storm Troubles
(DBN)

How Student Loan 'Forgiveness' Can Lock Law Grads In Debt Bondage
(DBN)

New Law School 'Rankings' Focus on Jobs, Transparency
(DBN)

Departure Memo of the Day: Parenting Gets The Best Of One Biglaw Associate
(DBN)

Writing For The Trash Or Writing To Be Read
(DBN)

Clear For Mac
(DBN)

Law firms ditching BlackBerries
(DBN)

Some Brick-and-Mortar Law Firms Also Offer Cheaper, Web-Based Services
(DBN)

Second Career Problems: Famous Author’s Wikipedia Page Hacked By Law School Classmates
(DBN)

Rumsfeld Wins Dismissal of Suit Tying Him to Torture
(DBN)

Holder undecided on staying on as Obama's attorney general
(DBN)

Cops: Robbery Thwarted After Chinese Restaurant Workers Fail To Understand Demands
(DBN)

Mugger Tells Victim He 'Needed Clothes For School'
(DBN)

Axe-Wielding Bikers Ride Into A Mall, Rob A Jewelry Store
(DBN)

Disbarred Lawyer Fighting New Sanction Decries Treatment, Barks at Justices
(DBN)

Victims Share Stories as Loughner Goes Away for Hundreds of Years
(DBN)

Legal Loophole Lets 3-Year-Olds Drink In Bars
(DBN)

Say What?!
(DBN)

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Judges:

Montana Voters’ Verdict: Supreme Court Was Wrong
(DBN)

Obama may now seek to make deeper mark on U.S. high court
(DBN)

DA should be disqualified from case he presided over as judge: appeals court
(DBN)

Del. high court to Chancery chief: Keep world views to yourself --- Chastises Chief Chancery Judge Known for ‘Legendary’ Asides
(DBN)

Judge Barred from Courthouse Wins Re-Election, Presses Insanity Defense in Battery Case
(DBN)

The Funniest Justice, week 4: Simple laughter
(DBN)

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Wall Street:

Stock index futures signal flat to higher open
(DBN)

Stocks slide on Wall Street, extending sell-off from the day before
(DBN)

The Standard Wall Street Career Path Is Shifting Under Everyone's Feet
(DBN)

Financial industry's risky election wager
(DBN)

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Layoffs:

Vegas Employer: Obama Won, So I Fired 22 Employees
(DBN)

Boeing Announces Big Layoffs In Cutback to Below 2010 Levels
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

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Politics:

Elizabeth Warren II: She's Baaaaaack as a US Senator --- Did Elizabeth Warren kill the Tea Party? --- Best Wishes to Senator-Elect Warren --- Three Cheers for Elizabeth Warren, First Blogger Senator --- The Importance Of Elizabeth Warren
(DBN)

Obama Victory Leads Wealthy to Make Quick Pre-2013 Moves
(DBN)

The Guy Who Was Going To Fire Employees If Obama Won?
(DBN)

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Management:

What is the best way to approach redundancies and restructuring?
(DBN)

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Personal Finance:

The secret Black Friday confessions of a certified cheapskate
(DBN)

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Corporate Reform:

Riding Obama's Coattails: Mssrs. Dodd and Frank
(DBN)

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Telecoms:

FiberTower's $22.5m bankruptcy sale deal collapses
(DBN)

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Fraud:

Did Marc Dreier Get the Punishment He Deserved?
(DBN)

LeNature: Company denies wrongdoing in accounting fraud case --- Krones to pay $125 mln to end US cases over Le-Nature's
(DBN)

Exec Claims Bank Fired Him for Reporting Rothstein's Ponzi Scam
(DBN)

Jurors Selected In ‘Criminal Club’ Insider Trading Case
(DBN)

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Risk:

U.S. Company Credit Swaps Rise to Six-Week High
(DBN)

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Pharma:

American Consumers Are Revolting Against Prescription Drugs
(DBN)

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Health Care:

WPAHS: Highmark is still best partner --- Highmark: WPAHS is on the "precipice"
(DBN)

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Economy:

New jobless claims dropped 8,000 last week to 355,000
(DBN)

Record Overseas Sales Boost US Growth
(DBN)

US 30-Year Yields Up From Almost Month Low Before Sale
(DBN)

Fiscal Cliff Risk: Too Much Compromise --- How I Learned To Stop Worrying About the Fiscal Cliff --- Boehner: Raising Tax Rates 'Unacceptable' --- Obama, Boehner again prepare to tackle national debt
(DBN)

Pressure Mounts on Fiscal Crisis
(DBN)

The President's Challenge in 17 Charts
(DBN)

Schumer Decries ‘Rumpelstiltskin Tax Fairy Tale’
(DBN)

Simpson-Bowles Launch New Deficit Effort
(DBN)

Some CEO's in grim mood over election outcome
(DBN)

401(k)average balance grows 4 pct in 3Q
(DBN)

The Biggest Trends In Global Prosperity
(DBN)

US Debt Clock
(DBN)

Economic Indicators Dashboard
(DBN)

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Real Estate:

Mortgage rate rises to 3.4% on average
(DBN)

BofA Merrill Lynch analysts forecast 5% 4Q rise in home prices
(DBN)

MBIA's quiet move hits BofA in mortgage bond dispute
(DBN)

September mortgage delinquencies higher: LPS
(DBN)

CMBS defaults because loans perform too well
(DBN)

South Florida foreclosure discounts shrinking
(DBN)

Mastros living well, French court is told
(DBN)

____________

Food/Beverage:

McDonald's sales drops for first time since 2003
(DBN)

Krones Announces Settlements of Le-Nature's Legal Proceedings
(DBN)

Feds: Upper Crust pizza owes workers $850,000
(DBN)

GE Capital Owed $45MM From Bankrupt KFC Franchisee
(DBN)

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Accounting:

FASB moving forward on "going concern" standard
(DBN)

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Alternative Energy:

Judge weighs bid procedures in A123 bankruptcy --- Johnson Controls, Wanxiang, Argue Over A123 Auction Date
(DBN)

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Municipalities:

Philadelphia schools borrow $300 million to pay bills
(DBN)

Hospital posts its Chapter 9 papers online
(DBN)

Stockton elects new mayor who vows not to accept a paycheck
(DBN)

Pension Wars Round 1: San Bernardino vs. CalPERS
(DBN)

Jefferson County First Anniversary Bankruptcy Check-up
(DBN)

Two Jefferson County commissioners will meet with sewer creditors to discuss plan to bankruptcy exit
(DBN)

Pittsburgh officials argue for release from Act 47 fiscal oversight --- Ravenstahl, oversight coordinators recommend Pittsburgh be released from Act 47
(DBN)

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Corporate Governance:

An Honest Guy on Wall Street
(DBN)

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Aviation:

American Airlines Sued by Bond Trustee Over Finance Plan
(DBN)

AMR avoids investigation into $2.26-bln debt deals
(DBN)

AMR granted extension on reorganization plan
(DBN)

Federal pension agency's director briefs American Airlines pilots union --- American Airlines gets OK to freeze (not terminate)pilot pensions
(DBN)

American Airlines traffic dips, revenue ratio flat
(DBN)

Hawker Beech Plans To Cut Another 450 Jobs
(DBN)

No timeframe set for Kingfisher Airline's revival plan: DGCA
(DBN)

Tighter cost controls start to pay off for Air Canada
(DBN)

Iberia's 'fight for survival' echoes British Airways crisis --- Iberia to cut 4,500 jobs under restructuring plan
(DBN)

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Banking:

JPMorgan Reaches Agreement to Settle SEC Mortgage Probes
(DBN)

Belgium, France to pump extra 5.5 billion euros into Dexia --- Dexia – another awkward result
(DBN)

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Defaults:

US Default Rate Slips to 3.4% in October, Still Well Above Europe's
(DBN)

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Autos:

Chinese, US auto parts makers to square off in A123 sale
(DBN)

How Jeeps and Chevrolets Helped Drive Obama's Victory
(DBN)

Suzuki's U.S. Departure: No Surprise to its Dealers
(DBN)

______________

Consultants:

Monitor Company files for Chapter 11; Deloitte to buy assets
(DBN)

Consulting Firm That Once Advised Gadhafi Enters Chapter 11
(DBN)

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Mass Torts:

BP, Plaintiffs Seek Approval of $7.8 Billion Spill Accord
(DBN)

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Student Debt:

The Birth of the Student Loan Bubble
(DBN)

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Hotel:

Austin: Hotelier files bankruptcy as property was to be auctioned
(DBN)

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Paper:

NewPage Said to Set Rate on $850 Million Loan to Exit Bankruptcy
(DBN)

NewPage Disclosure Statement Approved
(DBN)

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New Bankruptcy Opinions
(7 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (33 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (4 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:

MN bankruptcies drop to lowest level in years
(DBN)

Interactive Bankruptcy Statistics Map
(DBN)

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Recent Pleadings:

Former ChemX Execs Thwart Trustee's LBO Avoidance Action
(DBN)

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Bankruptcy Reform:

Reformers Eye Distressed-Debt Investors -- Do hedge funds and other buyers of the securities of failed companies adversely affect the bankruptcy process?
(DBN)

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Professional Compensation:

Trustee Program Modifies Controversial Proposal for Disclosure of Bankruptcy Fees
(DBN)

Judge Takes Red Pen to Legal Bills in Apple v. Samsung, Block billing, Too high hourly rates
(DBN)

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Avoidance Actions:

Fraudulent Transfer Claim Fails in Court's Arbitration Review
(DBN)

______________

Substantive Consolidation:

Lifting the Veil and Finding the Pot of Gold: Piercing the Corporate Veil and Substantive Consolidation in the United States
(DBN)

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DIP Finance:

Arcapita finally gets Shari’ah-compliant $150M DIP. But now it’s planning to liquidate
(DBN)

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Mootness:

Once Moot, Always Moot – Second Circuit Adopts Deferential Abuse of Discretion Standard of Review for Equitable Mootness Appeals
(DBN)

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PR:

Keeping Mum About the 'B Word'
(DBN)

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UST:

UST Director Addresses the Annual Meeting of the National Bankruptcy Conference
(DBN)

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Weather:

N.Y. state damage from Superstorm Sandy may total $33 billion, governor says
(DBN)

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Religion:

Crystal Cathedral: Rev. Schuller takes the stand
(DBN)

Schuller: I retain rights to my work
(DBN)

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Collectibles:

Upper Deck International Files for Bankruptcy Protection
(DBN)

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Sovereigns:

Pesky holdouts, old-timey edition. (Or, more on why Argentina matters.)
(DBN)

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UK:

Comet fire sale is more of a damp squib --- Discounts of 10-20% dash customers hopes
(DBN)

50 jobs to be axed at Insolvency Service
(DBN)

Is Britain the Next Greece?
(DBN)

Investigation: Drug dealers, gun runners and Britain's biggest bank
(DBN)

KPMG administrators save 750 jobs through pre-pack
(DBN)

______________

EU:

Draghi open to ECB rate cut, done helping Greece
(DBN)

Euro Drops to Two-Month Low After Ministers Delay Aid to Greece
(DBN)

Global Lenders Pledge $38 Billion to Eastern Europe
(DBN)

France, Belgium dig deeper for Dexia
(DBN)

______________

PIIGS:

RT: Greece can easily slide into Civil War --- Greek Aid Payment Call Won’t Be Made Next Week, EU Official Says --- FinMin confident loan installment will be released --- Greek wait for cash goes on despite austerity vote --- 50 billion euro to rescue Greek banks unless recession worsens --- Germany sees no quick deal on Greek aid: Schaeuble --- Draghi Praises Greece, But Warns More Is Needed --- Greece's debt burden How to end the agony --- Greeks furious over new budget measures --- Germany praises Greek government's "impressive" reforms --- Austrian FinMin opposes new haircut for Greece --- Jobless rate climbs above one-in-four level --- Credit Agricole posts $3.6 billion loss after Greek sale
(DBN)

ie: 'Just 15,000' to get insolvency deal
(DBN)

______________

Germany:

Germany's new insolvency law (ESUG)shows positive initial results
(DBN)

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Argentina:

Argentines Prepare for Huge Anti-Government March
(DBN)

______________

Kazakhstan:

Kazakh bank BTA urges creditors to approve debt deal
(DBN)

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Australia:

ASIC releases guidance on insolvency reforms
(DBN)

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Iceland:

Iceland Lawmaker Says Could Block Bank Composition Accords
(DBN)

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Copyright 2012