June 2, 2014

The Daily Bankruptcy News

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Law:

The Examiners on GM’s Liability: Richard A. Chesley --- Marc Leder
(DBN)

Nine Partners Are Leaving Bingham McCutchen --- Fourteen lawyers at Boston firm Bingham McCutchen jump ship --- Which lawyers are leaving Patton Boggs?
(DBN)

New York's High Court Considers Fees From Defunct Law Firms
(DBN)

Which Biglaw Attorneys Make The Most Bank?
(DBN)

Law Firm Model: Maybe It Is Broken
(DBN)

A Messy Divorce Offers An Inside Look At Biglaw Partner Pay
(DBN)

Finally, Regular People May Be Able To Afford Lawyers
(DBN)

10 Things To Remember About Your Summer Employment At A Biglaw Firm
(DBN)

Preet Bharara’s Awesome Harvard Law Commencement Speech
(DBN)

Student Debt Collector Takes Out Loan For Unaccredited Law School
(DBN)

On Being More Than Just A Lawyer
(DBN)

Only 3 percent of lawyers in BigLaw are black, and numbers are falling
(DBN)

Morgan Lewis changes department leaders as female lawyer prepares for chairmanship
(DBN)

In Fraud/Malpractice Action, Proskauer Blames Accountants for Tax Strategy Issues
(DBN)

Are Messenger Bags Unprofessional?
(DBN)

The 10 Hottest Apps Right Now
(DBN)

5 Android Apps That Change the Way I Manage the Practice of Law
(DBN)

Legal Sector: CIO, So 20th Century, Need CISO
(DBN)

There's a 12-Step Program for That
(DBN)

Habits Of Exceptionally Likable People
(DBN)

LawProse: "whether"r
(DBN)

Who owns the law? Technology reignites the war over just how public documents should be
(DBN)

NSA Intercepts Millions Of Photos For Massive Facial Recognition Database
(DBN)

Traffic to law firm homepages dying? Not so far.
(DBN)

Donald Sterling sues the NBA for over $1 billion --- Breaking Down The Clippers Sale --- Why Steve Ballmer Overpaid For The LA Clippers --- Shelly Sterling on track for bigger payoff than Jamie McCourt got
(DBN)

Did Edward Snowden Have Options?
(DBN)

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Judges:

Judges: Law Firm Ties That Bind
(DBN)

Austin Carter Named As Bankruptcy Judge In MD GA
(DBN)

Meet Camry, a Four-Legged Friend of the Court
(DBN)

Defense lawyers abuzz about judge who found a drug-case defendant more credible than a cop
(DBN)

Former White House lawyer wins trial delay after linking judge’s statement to Pontius Pilate
(DBN)

The Post-Clerkship Letdown
(DBN)

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Wall Street:

US stocks seen boosted by upbeat China PMI data
(DBN)

New High for S&P, Despite Mixed Economic News
(DBN)

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Layoffs:

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

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Student Debt:

The public shame of soaring US student debt
(DBN)

Ripple effects from rising student debt
(DBN)

Student Loan Debt in Bankruptcy : An Empirical Assessment
(DBN)

Lawmakers introduce bills to end kickbacks between colleges, banks
(DBN)

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Pensions:

Seven Counties can leave indebted Ky. pension system
(DBN)

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Agriculture:

West Texas Guar to pay farmers part of money now, or all in 5 years
(DBN)

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Autos:

GM Asks Judge to Keep Information From Consumer Advocate
(DBN)

GM: Where Were the Lawyers?
(DBN)

GM, Chrysler union retirees to get dental, vision benefits restored
(DBN)

Inside GM's path to survival
(DBN)

Turnaround Maestro Marchionne Must Now Focus on New Cars
(DBN)

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Golf:

Defunct Bayview Golf course owners seek rezoning to agriculture
(DBN)

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Bankruptcy Crimes:

Attorney, client indicted for alleged bankruptcy fraud
(DBN)

Tama County man pleads guilty to bankruptcy fraud
(DBN)

Trial scheduled for brother of police chief
(DBN)

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Currency:

HashFast Staves Off Involuntary Bankruptcy In San Francisco Court
(DBN)

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Mass Torts:

Garlock proposes $275M end to bankruptcy --- Garlock files amended plan of reorganization
(DBN)

Senate’s FACT Act “clips the wings of the plaintiffs bar”
(DBN)

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Electricity:

Energy Future Creditors Protest Bankruptcy Financing
(DBN)

BlackRock Has $903 Million in Junior Energy Future Notes
(DBN)

Longview Power Gets Approval for Vote on Modified Plan
(DBN)

Settlement talks occurring over bankrupt co-op
(DBN)

EPA to seek deep cuts in carbon emissions from power plants
(DBN)

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Music:

Did Apple save Dr. Dre and Jimmy Iovine just in time?
(DBN)

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Food/Beverage:

Crumbs' Accountants Have 'Substantial Doubt' The Cupcake Chain Can Stay In Business
(DBN)

Hawk 'n' Dove bankruptcy reveals woes for CEO
(DBN)

Restaurant Performance Index increases in April, Strongest since May 2013
(DBN)

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Personal Finance:

Worst money mistakes you can make at any age
(DBN)

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Economy:

Consumer spending declines --- Consumers glum as wage outlook droops
(DBN)

US recovery hits 5-year mark, but long way to go
(DBN)

What rebound? 'I got left behind'
(DBN)

Piketty: A Wealth of Misconceptions --- Piketty's 'errors' aren't mistakes: They're questions, and he answered them --- Everything You Need to Know About Thomas Piketty vs. The Financial Times --- Don’t believe brokers, the government, or Piketty: Your property values won’t grow faster than your paycheck
(DBN)

Economists Share Predictions at Cleveland Federal Reserve Bank Conference
(DBN)

Fed's Plosser floats new approach to forward guidance on rates
(DBN)

Fed's Plosser: 10-year yield may not fall further
(DBN)

Fed Officials Downplay Financial Stability Concerns
(DBN)

The Fed's Favorite Measure Of Inflation Is On The Rise
(DBN)

Fed Debate Over Future Beyond End of Stimulus
(DBN)

Americans Rarely Move to Flee High Taxes
(DBN)

A Poor Kid's Chance at the American Dream
(DBN)

US Debt Clock
(DBN)

Economic Indicators Dashboard
(DBN)

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Real Estate:

Fannie Mae and Freddie Mac: Mortgage Serious Delinquency rate declined in April
(DBN)

Homebuyers With Another Shot at Low Rates Still Don’t Buy
(DBN)

Toll Brothers: Net Signed Contracts “Flat” vs. Year Ago; Prices Up But Gains Slow; Demand over Past Year “Relatively Flat”
(DBN)

August Wilson Center fans push to keep black cultural mission alive after sale
(DBN)

Hialeah property owner exits foreclosure, Chapter 11
(DBN)

City of LA accuses JPMorgan of "mortgage discrimination"; seeks damages
(DBN)

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Municipalities:

Orr: Detroit bankruptcy deal of nearly $1 billion at risk
(DBN)

Palpable optimism for Detroit deal in the air on Mackinac
(DBN)

Detroit retirees warned of severe cuts if deal rejected
(DBN)

Protesters claim Detroit water shutoffs unfair to residential customers
(DBN)

Orr: Detroit to regain its place of prominence
(DBN)

Google Street View Images Show The Incredible Amount Of Decay In Detroit Just Since 2008
(DBN)

Orr: Some Detroit pensioners to benefit from bankruptcy ballot error
(DBN)

Detroit to hand over Dave Bing, police chief documents to bankruptcy creditor
(DBN)

Koch brothers are targeting a fair bankruptcy deal in Detroit
(DBN)

Detroit council chief Jones takes cooperative tone with Duggan
(DBN)

In Bankruptcy Water Deal, It's Brooks Patterson Vs. Detroit, And Detroit Is Winning --- Fitch Maintains Watch Negative on Detroit, Michigan's Water & Sewer Revs --- Snyder ready to be 'positive force' in negotiations over Detroit water department
(DBN)

Detroit Institute of Arts Makes Case for Its Art as a Public Trust that City Could Not Sell Even if it Wanted To
(DBN)

Rahm's $12.5 Billion Pension Problem
(DBN)

R.I. moves to add municipalities, others as defendants in pension lawsuit
(DBN)

Amended Act 47 plan details negative swing for Pittsburgh's finances
(DBN)

Harrisburg's 'profits' from debt-recovery plan draw resident interest; task force will spend
(DBN)

The pensions that ate New Jersey
(DBN)

$4 Trillion In Hidden Muni Liabilities: SEC Commissioner Gallagher
(DBN)

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Banking:

FDIC fines Former Tennessee Commerce Bank CEO Michael Sapp $485K
(DBN)

Future bankers learn how to "get around every rule" at Princeton, says Volcker '49
(DBN)

Unofficial Problem Bank list declines to 496 Institutions
(DBN)

Bank Failure #9 in 2014: Slavie Federal Savings Bank, Bel Air, Maryland
(DBN)

____________

Fraud:

Judge OK's federal oversight of TelexFREE
(DBN)

US investigates Icahn, Mickelson for insider trading: Source --- Mickelson cooperating with FBI on probe --- Carl Icahn Has A Scathing Response --- Insider-Trading Probe Hits Snag
(DBN)

US Government Investigating 15 Financial Institutions for Alleged Fraud
(DBN)

Rothstein Ponzi scheme feeder fund loses $7M judgment
(DBN)

Florida continues to lead US in identity, tax fraud
(DBN)

Rengan Rajaratnam Rejected Plea Deal, Prosecutors Say
(DBN)

Petters clawback action is poised to expand overseas
(DBN)

May 2014 Ponzi Scheme Roundup
(DBN)

____________

Tax:

Why US companies can earn $51 billion in the Cayman Islands even though its GDP is only $3 billion
(DBN)

____________

Coal:

Is Coal on a Collision Course to Bankruptcy ?
(DBN)

Coal credits slide amid bleak prospects; shares fall; Arch, Alpha, Walter, Patriot
(DBN)

____________

Politics:

Sen. Elizabeth Warren waking consumers up to realities of financial system
(DBN)

____________

Retailing:

Coldwater Creek Shoppers Say ‘Fear and Need’ Drove Sales Boom
(DBN)

RadioShack High Yield Bonds Soar In Trading As Investors Ponder Struggling Co.'s Fate
(DBN)

____________

Guns:

Colt Is Shooting Its Way to Financial Disaster
(DBN)

____________

Aviation:

Airlines' Earnings Surge Masks Narrow Margins, IATA Says
(DBN)

____________

Religion:

Religious freedom law a focus in church bankruptcy
(DBN)

Milwaukee Archdiocese's bankruptcy case moves Chicago court
(DBN)

____________

Hotels:

Lehman Subsidiary Commences Voluntary Chapter 11 Proceeding for Canyon Ranch Living Miami Hotel; Plans Auction, 363 Sale
(DBN)

____________

Apparel:

Hardwick Clothes to be auctioned
(DBN)

____________

New Bankruptcy Opinions
(6 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (89 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (20 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:

 

Interactive Bankruptcy Statistics Map
(DBN)

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Miscellaneous:

The Week Ahead: Energy Future Unit Seeks Bankruptcy Financing
(DBN)

The Changing Nature of Chapter 11
(DBN)

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Valuation:

An Economist's View of Market Evidence in Valuation and Bankruptcy Litigation
(DBN)

____________

Safe Harbor:

Storm Clouds Continue to Gather Over Bankruptcy Code's Safe Harbors
(DBN)

____________

Avoidance Actions:

Thelen Ruling Highlights Evidentiary Issues in Fraudulent Transfer Case
(DBN)

____________

Sales:

Upsetting a Bankruptcy Auction: Money Talks
(DBN)

A Lesson On What Not To Do In A § 363 Auction
(DBN)

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Trustees:

Lubbock man named bankruptcy trustee
(DBN)

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Eligibility:

Wave Goodbye to Bankruptcy Waivers? (Court Rules LLC’s Prepetition Waiver of Bankruptcy Protection Contrary to Public Policy)
(DBN)

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Oil/Gas:

Buccaneer Energy Files Chapter 11
(DBN)

____________

Celebs:

Aaron Carter Bankruptcy: Everyone Got Screwed Except the Pooch
(DBN)

Aaron Carter Broke And Bankrupt: No More Debts, Relieved Of Massive Debts By The Court; Even His Dog Was Valued At Zero!
(DBN)

The Broke and the Beautiful: BottleRock Edition
(DBN)

Drowning His Sorrows? Prison-Bound Joe Giudice Hits Trendy New York Nightclub Without Wife Teresa, Looks ‘Bombed’ and ‘Disheveled,’
(DBN)

As his assets continue to dwindle, Minor ventures into bitcoin world
(DBN)

____________

Health Care:

Bill aimed at relieving Palm Drive debt heads to governor
(DBN)

Successful Hospital Restructuring Requires Early Intervention
(DBN)

Union: Dimensions planning hundreds of layoffs of nurses, caregivers
(DBN)

____________

Telecoms:

Falcone's Harbinger Seeks Government Action on LightSquared
(DBN)

Harbinger's hiring of law firm could indicate plan to sue FCC
(DBN)

Falcone to FCC: 'Take action' to reverse hedge fund losses
(DBN)

____________

Environmental:

Anadarko's $5.15 Billion Environmental Settlement Moves On As David Keeps Fighting Goliath
(DBN)

Environmental Liability and D&O Exposure
(DBN)

____________

Sovereigns:

Argentina Creditors Say Memo Shows Plan to Defy Courts --- Argentina says no plan to evade US courts in creditor case
(DBN)

Argentina confident US Supreme Court will take its litigation case with hedge funds
(DBN)

____________

UK:

IT supplier insolvencies fall for first time as economy recovers
(DBN)

Thousands chased by HMRC debt collectors due to overpaid tax credits
(DBN)

Hearts plan to exit administration within a fortnight
(DBN)

____________

EU:

Hypo Alpe-Adria to open new chapter for Europe bank debt bail-in
(DBN)

Expansion in euro zone factory activity eases in May - PMI
(DBN)

German manufacturing sector expands at weakest rate in 7 months in May: PMI
(DBN)

____________

PIIGS:

Spain Plans to Spend $8.2 Billion to Boost Growth --- Spanish factory activity grows at fastest rate in 4 years in May: PMI --- Spanish bankers jailed for financial abuses
(DBN)

ie: Billions of pounds at stake as family empire slowly unraveled over years --- Bankruptcy threat ‘forcing banks to offer mortgage-holders writedowns’ --- Yet another twist in tale as Drumm to learn his fate
(DBN)

Breakthrough in Alitalia and Etihad negotiations
(DBN)

Greece moves to calm austerity fears as Germany suggests new bailout --- Schäuble says third Greek bailout to be less than €10bn
(DBN)

____________

Canada:

Report paints bleak picture for Ontario auto industry --- Report Reads Like An Obituary
(DBN)

____________

Brazil:

Small creditors take legal action over OGX restructuring --- Deutsche Bank sued over Óleo e Gás funding deal
(DBN)

Deutsche Bank Says Oleo e Gas Lawsuit 'Without Merit'
(DBN)

Batista’s Oil Company Viable After Creditor Approval: CEO 1 day ago
(DBN)

____________

Ukraine:

Europe, Ukraine avoid gas disaster (for now)
(DBN)

____________

Kazakhstan:

Kazakh Wealth Fund Calls Alliance Bank Creditors to Save Lender
(DBN)

____________

China:

China manufacturing PMI rises to 50.8 in May
(DBN)

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Japan:

Sweets Maker Closes After 553 Years in Business
(DBN)

____________

Australia:

Insolvency guru KordaMentha's Mark Korda under fire on advice
(DBN)

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