May 18, 2015

The Daily Bankruptcy News

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Law:

The Biglaw Bonus Season, In One Picture
(DBN)

Law School Grades Do Not Correlate With Partnership Prospects
(DBN)

GC: ‘You Need to Have a Really Large Law Firm’
(DBN)

Business of Law
(DBN)

TX: Numbers Flat at Top 25 Firms in Summer Associate Survey
(DBN)

After Slashing Tuition, Pace Law Slashes Faculty Pay
(DBN)

Watch A Thomas M. Cooley Grad Fail On National Television
(DBN)

Charleston Faculty Pen Blistering Indictment Of Management
(DBN)

Court suspends Pittsburgh bankruptcy lawyer for using suspended bankruptcy lawyer's PACER account
(DBN)

US Companies Face Double the Litigation of Global Peers
(DBN)

Peter Gray: Gibson Dunn "chucked me under the bus"
(DBN)

Exposed: mysterious lawyer charting conquests in s-- autobiography
(DBN)

Hello? Dressing for success, using the exact same outfit
(DBN)

10 proven tactics for reading people's body language
(DBN)

21 signs you have a terrible boss
(DBN)

The law student behind this iPhone alarm is clearly destined for great things
(DBN)

Jury awards $250K plus $82M in punitives to woman sued over someone else’s credit card bill
(DBN)

Paralegal’s ex testifies, says she admitted DUI setup of opposing trial lawyer
(DBN)

Husch Blackwell partner resigns as Missouri House speaker over sexts with intern
(DBN)

The Only Lawyer Worth Hiring Based On A Television Ad
(DBN)

Bikers in Waco fight with guns, chains, knives, bats, clubs - 9 dead Bodies scattered throughout parking lot Undercover Agent Explains Waco Shootout
(DBN)

An Alabama jail was forced to free prisoners after it ran out of food
(DBN)

How the IRS seized a man’s life savings without ever charging him with a crime
(DBN)

This adult pajama onesie looks just like a full business suit — one guy wore it for a week and no one noticed
(DBN)

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Judges:

Judge is admonished for ‘heavy-handed’ action on behalf of fellow judge
(DBN)

‘Bro Code’ Incompatible With Judicial Code Of Conduct
(DBN)

NJ BK: Notice Re: Procedure for Filing a Document Under Seal Pending Adoption of Local Rule
(DBN)

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Wall Street:

Futures point to slow start for Wall Street
(DBN)

S&P lands at another record
(DBN)

Stocks aim at record high, but beware a ‘Great Reset’
(DBN)

‘Wife bonuses’ await those who outperform for their Wall Street men
(DBN)

Traders watch for more signs of economic stall
(DBN)

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Layoffs:

Oreo maker Mondelez to cut up to 600 jobs at Chicago bakery
(DBN)

Blue Bell will lay off 1,450 employees
(DBN)

FairPoint layoffs to hit 219 in northern New England
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

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Food/Beverage:

Turner Grain's Bankruptcy Converted to Chapter 7 Liquidation
(DBN)

NY: Meatpacking District's Revel files for bankruptcy protection
(DBN)

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Education:

Corinthian students get special committee in bankruptcy case
(DBN)

SEC accuses a for-profit college chain of fraud
(DBN)

One woman crowdfunds her way to a Harvard degree
(DBN)

To The Class Of 2015 – You Chumps!
(DBN)

Bubble In Higher Education: When Will It Pop?
(DBN)

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Aviation:

Top 3 US airlines step up attack on Middle Eastern carriers who argue that US bankruptcy law = "government subsidy"
(DBN)

U.S. airline CEOs unite to fend off expansion by Middle East rivals
(DBN)

Etihad Airways Sticks It To American Airlines Gulf Airline Blasts US For Aviation Subsidies Etihad Airways Says U.S. Carriers Got Government, Court-Sanctioned "Benefits", Such As Bankruptcy Relief
(DBN)

Is overseas competition hurting U.S. airlines?
(DBN)

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Hollywood:

Weinstein Co. Hit With $130 Million Fraud Lawsuit Over Bankrupt Company Weinstein Co. Sued Genius Products Bankruptcy Weinstein Company Fights Fraud Lawsuit — Says $130M Suit Won’t ‘Succeed’
(DBN)

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Awards:

Robert Bernstein Named President Of The Commercial Law League of America
(DBN)

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Politics:

How Hillary and Bill Clinton moved into the top 1% Hillary Took Money from Influence Peddlers
(DBN)

Perils in Trade Deals When Factories Close and Towns Struggle The catch-22 of trade deals done in secret
(DBN)

Marco Rubio Is One of the Least Wealthy Candidates Seeking White House
(DBN)

Rick Perry to Announce on June 4
(DBN)

Ben Carson Versus Marbury v. Madison: The GOP Presidential Candidate Questions Judicial Review
(DBN)

Large Republican field has party leaders anxious about '16
(DBN)

The GOP is Literally Dying Off
(DBN)

The Obamas Are Still Rich, But Hold a Big Mortgage
(DBN)

Here's how Rand Paul wants to change the economy
(DBN)

Economy is Voters' Top Worry
(DBN)

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Autos:

Hertz raising airport car rental rates by $5 a day
(DBN)

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Celebs:

Pa. post office in jeopardy over "Cousin Balki" bankruptcy
(DBN)

Teresa Giudice ‘Taking Care of Her Body, Taking Care of Her Mind’ in Prison
(DBN)

Former billionaire from Medina will remain in a Montana jail
(DBN)

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Mass Torts:

Database provides insight into how much Madison County asbestos claims are worth
(DBN)

Bill targeting asbestos litigation abuse passes House Judiciary Committee
(DBN)

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Healthcare:

Why do hospitals go broke
(DBN)

Hospitals suffering financial hypochondria
(DBN)

Fact Check: "In the last 24 months, 10 rural Texas hospitals have been forced to shut their doors because state leaders" chose not to expand Medicaid
(DBN)

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Privacy:

RadioShack Data Buyer Said to Be in FTC Talks on Privacy Issues
(DBN)

FTC recommends conditions for sale of RadioShack customer data
(DBN)

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Guns:

Utah gun-making company Vector Arms files Chapter 11 bankruptcy
(DBN)

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Fraud:

Law firms will pay $3.7M to help settle suits over Ponzi scheme run by Allen Stanford
(DBN)

Capitol scandals raise tough questions for New York governor
(DBN)

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Alternative Energy:

The Ethanol Scramble
(DBN)

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Economy:

Consumer Sentiment Plunge Lowers Odds of U.S. Growth Rebound Consumer sentiment falls by most since 2012 Gas prices and unemployment are low. Why isn't consumer confidence higher?
(DBN)

Goldman's Hatzius: "The Employment Gap Is Much Bigger than the FOMC's Current Estimate"
(DBN)

US Industrial Output Falls for 5th Straight Month
(DBN)

April: Worst Month Since Great Recession
(DBN)

Why Not Everyone is Feeling the Economic Recovery
(DBN)

Global economy: Outlook brighter, but not enough yet for higher rates
(DBN)

Don't Be So Sure the Economy Will Return to Normal
(DBN)

Fed's Evans: U.S. zero-rate policy isn't too easy The FOMC could look at a rate hike in June
(DBN)

New Fed Bill Is Like ‘Shutting Down the Fire Department to Encourage Fire Safety,’ Bernanke Says
(DBN)

Why U.S. economy just keeps plodding along
(DBN)

Former Wall Street CEO: Here's why the government couldn't stop the financial crisis
(DBN)

A graduate degree doesn't guarantee you'll get rich
(DBN)

Contrary to The Economist, the Tax Treatment of Businesses' Interest Expense is not a Danger to the Global Economy
(DBN)

The Debt To GDP Ratio For The Entire World: 286%
(DBN)

Hotels: On Pace for Record Occupancy in 2015
(DBN)

Why parents should stop hoping their kids will get married
(DBN)

US Debt Clock
(DBN

Economic Indicators Dashboard
(DBN)

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Real Estate:

Calculating Title Insurance Claims: Reduction in Value vs. Insured Claim
(DBN)

After nearly 35 years in business, mortgage law firm Butler & Hosch closes down
(DBN)

Applications for new home purchases ticked up in April
(DBN)

Preliminary Table of Distressed Sales and Cash buyers for Selected Cities in April
(DBN)

U.S. Vacant Homes Back to Normal, Pre-Crisis Levels
(DBN)

These photos show what it looks like when we ignore foreclosures in black neighborhoods
(DBN)

How a Florida shopping mall ended up in the hands of a Chinese fugitive
(DBN)

Marshall Chesrown, bankrupt developer, faces new financial fights
(DBN)

St. Louis: Developer McKee Faces Auctions for Unpaid Debts
(DBN)

NE: Towers Event Center in Lincoln files for bankruptcy
(DBN)

Judge May issues sanctions in Colony Resort case
(DBN)

In sign of times, hardest-hit Nevada may end foreclosure aid
(DBN)

Peppertree HOA to seek protection
(DBN)

___________

Municipalities:

San Bernardino Bankruptcy Plan Proposes Big Cuts to Bondholders Finally, a plan to move broke San Bernardino beyond bankruptcy Next steps for city of San Bernardino San Bernardino bankruptcy plan gets group’s support
(DBN)

Banks giving Chicago time, while state bankruptcy bill takes shape Chicago Slides Toward Bankruptcy
(DBN)

Municipal Bankruptcy in Illinois: Should Cities Have the Option?
(DBN)

Fixing Puerto Rico - Bankruptcy is the answer Debt-Choked Puerto Rico at Fiscal Brink as Bond Buyers Pull Back
(DBN)

Wayne County: Ficano staff drafted consent agreement with state
(DBN)

Detroit bank to help finance city of Detroit
(DBN)

Nearly half of states expect to confront big budget gaps
(DBN)

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Oil/Gas:

Considerations and Consequences of a Bankruptcy Filing in the Oil and Gas Industry
(DBN)

From Boom to Bust: What Happens When the Price of Oil Collapses?
(DBN)

Understanding SEC Oil and Gas Reserve Reporting
(DBN)

Just 38 miles apart, one Texas oil town is still booming and the other is dead
(DBN)

Oil rig count falls for 23rd straight week
(DBN)

Oil prices rise after Islamic State advances in Iraq Crude prices jump back above $60
(DBN)

Hoping for an OPEC supply cut? Forget it
(DBN)

Qatar Petroleum to restructure in wake of oil price fall
(DBN)

Oil Investors Take a Closer Look at Production
(DBN)

Service Companies Might Turn To Mergers In Second-Half 2015
(DBN)

Torchlight Energy reports $2.2M loss in Q1; creditors could force bankruptcy
(DBN)

SandRidge Energy Ratings Downgraded
(DBN)

Why crude oil is looking to move higher this summer Higher US Shale, OPEC Oil Output Will Keep Prices Low Oil is at a make-or-break crossroads — here’s why
(DBN)

L.A. Gas Prices Now over $4 a Gallon
(DBN)

OK: Different Path to Oil Field Recovery
(DBN)

US says decade-old Gulf oil leak could last another century
(DBN)

T. Boone Pickens makes stock picks amid oil slump
(DBN)

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Retailing:

RadioShack: Betting Against The Company
(DBN)

Oldest Toy Store in US, FAO Schwarz Closes New York Outlet Due to Rising Costs
(DBN)

What's cutting into big retailers' profit margins
(DBN)

Dillard's earnings slide 1.9% Stock Plunges
(DBN)

Many big-box retailers struggling to survive in post-recession economy
(DBN)

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Lehman:

Lehman Brothers Sues Federal Home Loan Bank of New York Over Swaps
(DBN)

Lehman Brothers Securities N.V. in Curacao to Complete Bankruptcy Proceedings and Close Down
(DBN)

Trader Wrestles Lehman Estate Over Big Bonus
(DBN)

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Publishing:

Stage set for bankruptcy auction of Family Christian Stores
(DBN)

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Compensation:

How much does the average S&P 500 CEO make?
(DBN)

____________

Telecoms:

The Nortel judgments were fair. Uncontrolled legal costs are not
(DBN)

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Consultants:

Charles Moore named managing director of Alvarez & Marsal
(DBN)

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Mining:

Magnetation upbeat despite bankruptcy
(DBN)

Mohave County supervisors face $200K in added legal fees in mining company bankruptcy
(DBN)

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Bankruptcy Crimes:

FBI: Hillsborough County Resident Indicted on Bankruptcy Fraud, Mail Fraud, and Aggravated Identity Theft Charges
(DBN)

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Religion:

Pope Francis extends agenda of change to Vatican diplomacy
(DBN)

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Corporate Reform:

Justice Department to tear up past UBS settlement
(DBN)

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Coal:

Patriot Coal DIP Financing Approval Sought Barclays: Odds On Patriot Reorg "Not Favorable"
(DBN)

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Construction:

Truland trial starts Tuesday: Here's what's at stake
(DBN)

____________

Trucking:

Bankruptcy Trustee Sues Carriers, Seeks Millions in Past Payments
(DBN)

____________

Gambling:

Macau Bets $27 Billion on Reversing Law of Supply and Demand
(DBN)

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New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (45 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)

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Bankruptcy Statistics:

10 States With the Highest Bankruptcy Rates
(DBN)

Interactive Bankruptcy Statistics Map
(DBN)

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Miscellaneous:

The Week Ahead
(DBN)

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Privilege:

Bankruptcy Professionals and Privileged Communications
(DBN)

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Corporate Governance:

Speaking Out for Shareholders in Corporate Bankruptcies
(DBN)

Delaware Supreme Court Trims Independent Exculpated Directors’ Potential Liabilities
(DBN)

____________

Recharacterization:

Tests of Character: Challenges to Unsecured Claims in the Mount Olive and American Housing Foundation Bankruptcies
(DBN)

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Avoidance Actions:

Investor in failed housing foundation ‘Ponzi-like’ scheme recovers partial investment on appeal
(DBN)

Deprezio waivers in bankruptcy cases: Valid, or a sham?
(DBN)

____________

Bankruptcy Reform:

Will Congress Finally Act? The ABI Commission on Business Bankruptcy Reform: Secured Lenders
(DBN)

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Professional Compensation:

Attorney’s Fees Denied: Failure to Follow FRBP 9011
(DBN)

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TBTF:

The Warren-Vitter "Bailout Prevention Bill" Won't Prevent Bailouts
(DBN)

Warren-Vitter and the lender of last resort
(DBN)

Perpetualization Of The Too Big To Fail Banks
(DBN)

Borders undermine drive to solve too-big-to-fail banking problem
(DBN)

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Litigation:

You Can't E-Discover What You Can't Find
(DBN)

Is Litigation Financing The Future Of Law?
(DBN)

Trying Cases While Running A Law Firm
(DBN)

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Movie Theaters:

Eastpoint 10 Cinemas operator files for Chapter 11 bankruptcy
(DBN)

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Chapter 13:

CA: Family Contributions Continue to Work in Chapter 13
(DBN)

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Electricity:

Walnut Creek Objects To Optim Ch. 11 Disclosure Statement
(DBN)

Energy Future: $117M YTD Professional Fees
(DBN)

____________

Weather:

Calif. Drought: Town Fights to Keep Watering
(DBN)

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Shipping:

Esco Marine, Inc. Hires Restructuring Firm
(DBN)

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Sovereigns:

'Vulture' funds push back in court on bond tap
(DBN)

Argentina's debt clock ticks on
(DBN)

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UK:

Lloyds and KPMG accused over insolvency
(DBN)

Lee Ryan Declares Himself Bankrupt
(DBN)

Credit unions threaten to boycott debt advice charity
(DBN)

Collective Redundancies in the UK – the Woolworths case
(DBN)

Lloyds alleged to have 'artificially distressed' small business customers
(DBN)

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EU:

Eurozone Recovery and Lessons About Austerity
(DBN)

Eurozone's Flaws Worsen Greek Woes
(DBN)

____________

PIIGS:

ie: IBRC challenges Drumm bankruptcy refusal appeal Drumm faces challenge to €10m US bankruptcy appeal Ruling flags lack of joined-up bankruptcy between US and ie
(DBN)

Renzi's forced pension payout makes Italy's budget task harder
(DBN)

How big is Greece's debt? Greece Remains Defiant as It Seeks Creditor Deal This Week Greece debt deal elusive as Alexis Tsipras says solution won't come at any price It Begins... Greece Demands An Emergency Meeting! Greece Aid Accord Looks Elusive as Tsipras Sticks to Red Lines Spanish official confident of Greece deal in next few days Report: The IMF's Europe chief says he can't even talk to Yanis Varoufakis Greece 'very close' to deal with lenders: PM Tsipras EU's siege mentality looks likely to squeeze Greece Greece must choose between 2 catastrophes Phony dilemma New Democracy Accuses Greek Govt of Unreliability After Report on Alleged Letter to IMF How Greece will be trapped inside the euro Would leaving euro be more of a catastrophe for Greece than staying? Time for Greece and euro zone to go separate ways
(DBN)

Greece has no money to pay the IMF, Tsipras warned creditors Greece came close to not paying IMF Tsipras letter reveals weakness of Greek finances Greece pays public sector wages to avert fresh economic crisis Greece will not cut salaries and pensions in loan talks: PM Greek Bank Collateral Crisis Could Force Tsipras' Hand
(DBN)

German econmin says Greece can only get more aid if it reforms Germany urges Greece to undertake reforms to unlock funds Institutions: ' Greece Will Need A Third Aid Package'
(DBN)

Greece says court bid for Parthenon Marbles still an option
(DBN)

Portugal Gets Three Bids for TAP in New Attempt to Sell Carrier
(DBN)

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China:

Amid China slowdown, foreign creditors face bankruptcy riddle
(DBN)

China orders banks to keep lending to insolvent state projects China struggles to make its debt problems go away
(DBN)

China's Kaisa bondholders still open to better restructuring offer -sources
(DBN)

China's new home prices fall for eighth month Fall at slower pace in April Is China's housing bust bottoming out?
(DBN)

____________

India:

Revamping India’s Bankruptcy Laws: A Way Out of India’s Bad Debt Problem
(DBN)

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Brazil:

Brazil seizes $327 mln in contractor assets in Petrobras scandal
(DBN)

How to Lose $35 Billion in Less Than 365 Days
(DBN)

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Bulgaria:

Bulgarian prime minister calls for Corpbank's books to be opened up
(DBN)

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Turkey:

Turkish citrus company declares bankruptcy with US$78M debt
(DBN)

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Japan:

The troubles of two big firms show how far corporate reform still has to go
(DBN)

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Ukraine:

Ukraine calls for debt restructuring to benefit foreign taxpayers
(DBN)

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