May 28, 2015

The Daily Bankruptcy News

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Law:

Dewey Day 2: CFO Just 'Blunt,' Says Lawyer, as Accountants and Ex-Partner Take Stand Dueling Narratives in Trial of Ex-Dewey & LeBoeuf Leaders Defense Says Dewey & LeBoeuf Emails Taken Out of Context Defense in Dewey leaders’ trial blames disloyal partners who ‘picked up their marbles and ran’ The Blame Game Begins: Opening Statements In The Dewey & LeBoeuf Trial Defense Puts Spotlight on Dewey & LeBoeuf Emails Opening Statements Conclude in Dewey Trial
(DBN)

Biglaw Firm Only Wants Big $$$ Clients
(DBN)

Keeping Pace with Changes in Big Law
(DBN)

Biglaw Mommy: Misery Loves Company — And That’s Okay
(DBN)

Bankruptcy Lawyer: Why Are You Here? Living Your Life’s Purpose
(DBN)

3Ls and old pros differ on whether new grads are prepared for practice
(DBN)

Five Tips for Law Firm Summer Associates
(DBN)

Professional Development Tips from a DLA Piper Partner
(DBN)

Arm Your Headhunters to Bag the Best Lateral Talent
(DBN)

Law Schools + The Internet = Embarrassing Screenshots
(DBN)

The Cruel Grading System Of Low-Ranked Law Schools
(DBN)

Memorable Law School Graduation Speeches
(DBN)

Temp services offer part-time lawyers for occasional needs
(DBN)

The View From Up North: The Joy Of Taking A Law Firm Public
(DBN)

Ashurst pay rises across the board as new lawyers' salaries hit £65,000
(DBN)

Shearman freezes associate pay but hikes trainee salaries by 15 per cent
(DBN)

A new iPhone bug crashes people's phones with a single text message How to make texting on your iPhone as private as possible
(DBN)

Speech recognition moves past the dream stage
(DBN)

'Ransomware' software attacks stymie law firms
(DBN)

A psychologist says these personality types are most likely to clash at work
(DBN)

Former in-house lawyer admits stealing $2.6M from his company
(DBN)

Wal-Mart Settles Turnpike Crash Lawsuit by Comedian Tracy Morgan
(DBN)

How Law Firms Use Facebook and Other Data to Track Down Medical Victims
(DBN)

America's Magna Carta
(DBN)

Judge Gives ‘Field of Dreams’ Project the Go-Ahead
(DBN)

Judge Ponders Whether Chimps Should Get Same Rights as Humans
(DBN)

Two Students Charged With Felony After Filling Lockers With Alarm Clocks
(DBN)

Students Charged After Releasing 72,000 Ladybugs in High School
(DBN)

World's Slowest Police Chase
(DBN)

Chicago Cop Fired for Posing With Black Suspect Dressed in Deer Antlers
(DBN)

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Judges:

Staging Scalia
(DBN)

Voters Still Question Supreme Court's Political Biases
(DBN)

New Initiative Urges Voluntary Term Limits for Future Justices
(DBN)

Judge resigns amid allegations she retaliated after rebuffed Facebook request, exhibited paranoia
(DBN)

Judge who remarked on ‘temptresses’ who are ‘asking for it’ faces ethics complaint
(DBN)

This Judge Has Some Crude Insights About Women And Booze
(DBN)

June is busting out all over with big-time SCOTUS decisions
(DBN)

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Wall Street:

Futures lower; Wall Street awaits jobless claims; Greece hopes hit Rate-hike fears hamper U.S. stock futures
(DBN)

US stocks bounce back; Nasdaq sets record close
(DBN)

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Layoffs:

 

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

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Religion:

Gallup diocese billed $2.25M so far in bankruptcy case
(DBN)

Twin Cities archdiocese puts buildings up for sale
(DBN)

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Infrastructure:

Cities, states borrow more, but spend less on roads
(DBN)

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Soccer:

How FIFA makes its billions How FIFA makes its billions The most staggering part of FIFA's $150 million bribery scandal US officials say FIFA inquiry is only beginning FIFA Sponsors Could Play Major Role in Scandal Budweiser to 'closely monitor' FIFA situation McDonald's in contact with FIFA over charges Visa threatens to end FIFA deal as pressure mounts The banks and brands sweating on FIFA probe UEFA committee: Corruption 'deeply rooted' Only The American Justice System Could Go After FIFA FIFA’s Paris Cash Drop: $10,000 Bundles Stacked in Suitcase How Will the U.S. Extradite FIFA Officials From Switzerland? US. Swiss Timed FIFA Raids for Max Effect
(DBN)

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Fraud:

Court approves $11.1 million global settlement in three Madoff avoidable transfers cases
(DBN)

A venture capital exec facing insider trading and fraud charges has vanished
(DBN)

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Electricity:

Creditors Say Energy Future Privately Aims To Thwart Alternate Reorganization Plans
(DBN)

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Tax:

IRS May Be Closing Corporate Tax Debt Cases Too Soon
(DBN)

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Guns:

Colt again extends deadline on distressed bond swap, Ch. 11 vote Colt hopeful exchange offer will win over investors on third try
(DBN)

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Coal:

The war on coal is real, and one side is clearly winning
(DBN)

Can Peabody Hold On?
(DBN)

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Museums:

Evergreen settlement meets with opposition
(DBN)

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Bankruptcy Crimes:

Former Pageant Queen Headed To Prison For Bankruptcy Fraud
(DBN)

MI: Decatur woman sentenced to prison for bankruptcy fraud
(DBN)

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Politics:

Bernie Sanders targets income inequality
(DBN)

Does Elizabeth Warren have a Silicon Valley problem? Elizabeth Warren Unleashed
(DBN)

Jeb Bush’s busy role on corporate boards could become issue in 2016 presidential campaign
(DBN)

Elizabeth Warren flipped houses while denouncing speculators
(DBN)

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Shipping:

Overseas Shipholding Asks Lenders to Relax Merger-Limiting Rules
(DBN)

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Hedge Funds:

Liquidators of Ex-Harvard QB's Funds Sue Barclays for $80 Million
(DBN)

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Economy:

What we've learned from Yellen and Fischer
(DBN)

Fed's Williams says US rate rise likely this year, economy to bounce
(DBN)

Businesses Ramp Up Borrowing to Get Ahead of Interest Rates
(DBN)

BLS: Twenty-Three States had Unemployment Rate Decreases in April
(DBN)

One-Third of U.S. Workers Want Longer Hours Even With No Raise
(DBN)

Regional Fed Manufacturing Surveys for May and the ISM Index
(DBN)

Skills, not wealth, drive U.S. income inequality
(DBN)

Maybe the U.S. economy isn't tanking after all
(DBN)

The current unemployment rate in each state
(DBN)

Sen. Warren: Rise of Contract Workers Is 'Real Problem'
(DBN)

College-educated workers took biggest pay cut in 2014
(DBN)

More seniors are going hungry
(DBN)

Union to Fight to Ignore LA's $15 Minimum Wage
(DBN)

Credit card delinquency statistics
(DBN)

Bill Gates' Biggest Fear: Global Epidemic 'Far Worse Than Ebola'... Well over 50% chance 'in my lifetime'
(DBN)

Healthcare Costs And Their Effect On The U.S. Economy In 3 Charts
(DBN)

US Debt Clock
(DBN

Economic Indicators Dashboard
(DBN)

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Real Estate:

Struggling Companies, Creditors Weigh REIT Conversions
(DBN)

Loans For Builders Not Quite Keeping Pace
(DBN)

Top 10 buyer and seller markets
(DBN)

Mortgage applications drop 1.6% as refinancing stalls
(DBN)

Freddie Mac: The top 5 improving metros right now
(DBN)

RBS mortgage settlement with FHFA could reach $4.5B
(DBN)

Ocwen to cut 140 jobs at Houston Ocwen closing residential servicing operations in Houston
(DBN)

Toll Brothers revenue falls 1 pct on lower home sales
(DBN)

Here's the salary you have to earn to buy a home in 15 major US cities
(DBN)

Rental Fever
(DBN)

St. Louis: Creditor seeks $6.3 million from Steffen, Pyramid
(DBN)

Bankruptcy judge: Michigan farmland sale doesn’t violate conservation easement
(DBN)

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Municipalities:

Detroit's turnaround is about more than money
(DBN)

Bankruptcy judge to decide Detroit spousal health care
(DBN)

Detroit Police Chief: I Wouldn't Gas Up in City at Night Unless Had To
(DBN)

San Bernardino’s Financial Gordian Knot
(DBN)

Leaders renew push for local control of Detroit schools
(DBN)

Kansas budget struggles could bring furloughs
(DBN)

Don Guardian, Atlantic City's uncommon mayor, is fiercely optimistic in face of city’s economic crisis
(DBN)

Puerto Rico limps towards debt default
(DBN)

Puerto Rico's Debt Crisis Is Big Business for Washington Lobbyists
(DBN)

Borrowing to Replenish Depleted Pensions
(DBN)

NY: The real numbers on the state's pension plan are worse than officials are willing to admit
(DBN)

Fastest growing U.S. cities: Texas is king
(DBN)

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Oil/Gas:

Thurs. A.M.: Oil tries to stabilize ahead of weekly U.S. data
(DBN)

Weds. A.M.: Oil falls below $63 as dollar strengthens
(DBN)

OPEC seen backing Saudi Arabia’s plan to keep supplies elevated
(DBN)

The Oil Glut is Not Real
(DBN)

Inside the Duer Wagner III bankruptcy: Low crude prices forced oil man into default
(DBN)

Tanker Market Sends Warning to Oil Bulls
(DBN)

Analyst: More cuts to come as reality sets in for oil companies surprised by downturn
(DBN)

Solar as fastest growing U.S. power source rivals shale boom
(DBN)

____________

Awards:

Arent Fox Bankruptcy Associate George Utlik Named a ‘40 Under 40’ Emerging Leader by the M&A Advisor
(DBN)

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Food/Beverage:

McDonald's stops monthly sales reports
(DBN)

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Banking:

Overdraft fees top $1 billion at top 3 banks
(DBN)

Alabama One Bankruptcy Hearing Ignites Drama
(DBN)

FDIC: Fewer Problem banks, Residential REO Declines in Q1
(DBN)

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Lehman:

Why Lehman Brothers lives on
(DBN)

Fallen Lehman chief opens real estate brokerage
(DBN)

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Retailing:

Meet The Real Estate Experts Helping Reshape Retail, Booming Or Bankrupt
(DBN)

SkyMall Is Back from the Dead
(DBN)

Family Christian Stores Lives On, For Now
(DBN)

____________

Student Debt:

Here's an Innovative Idea for Reducing Student Loans
(DBN)

Government investigation finds companies are not overcharging troops on student loans
(DBN)

____________

Personal Finance:

The majority of self-made millionaires have a similar approach to earning money
(DBN)

Emergency savings: How much you really need
(DBN)

____________

Education:

For-profit colleges lose bid to scuttle government rules
(DBN)

Meet ‘privileged’ community college students
(DBN)

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Environmental:

Bankruptcy trustee hopes to keep Agawam business, under fire for Saudi dealings, running while marketing it for sale
(DBN)

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Mass Torts:

Garlock evidence showed spike in settlements, costs during asbestos bankruptcy wave
(DBN)

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Healthcare:

El Paso: Taxpayers still owe $116M for construction of Children's Hospital
(DBN)

Financially challenged Alameda Health System names Delvecchio Finley CEO
(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 (28 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (93 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)

______________

Bankruptcy Statistics:

Interactive Bankruptcy Statistics Map
(DBN)

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Bailment:

Bailment: Retaining Funds Received From a Bankrupt Bailee Is Not a Slam Dunk
(DBN)

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Cross-Border:

New York’s Southern District Has 70 Percent of Ch. 15 Cases
(DBN)

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Sanctions:

New ABA annotation may help courts and lawyers navigate attorney sanction process
(DBN)

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Cross-Border:

DTEK Restructuring Scheme Opens Door For Global Bond Issuers To Bypass Chapter 11
(DBN)

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Avoidance Actions:

Kekonas' Punitive Damages Award For Fraudulent Transfers Gets Bigger On Appeal
(DBN)

Actions Speak as Loud as Words in Deprizio Waivers
(DBN)

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Structured Dismissal:

Third Circuit Holds Structured Dismissal Deviating from Bankruptcy Code Priority Scheme May Be Utilized in Appropriate Circumstances
(DBN)

Third Circuit Authorizes Structured Dismissal of Chapter 11 Case
(DBN)

____________

Property of the Estate:

Ex-gun store owner provides Facebook access, freed from jail
(DBN)

____________

Jurisdiction:

Well Well Wellness: The Supreme Court’s Most Recent Decision Regarding Stern v. Marshall and its Progeny
(DBN)

Consent, Express of Implied, Allows Bankruptcy Judges to Adjudicate “Stern Claims”
(DBN)

Opinion analysis: Justices reaffirm authority of bankruptcy judges based on parties’ consent
(DBN)

Supreme Court expands authority of bankruptcy courts Supreme Court Gives Bankruptcy Judges Power to Make Final Decisions
(DBN)

Lawyers React To Justices' Ruling On Bankruptcy Court Power
(DBN)

___________

Plan Confirmation:

Avoiding Make-Whole Premiums and Calculating Cram Down Interest Rates: What Lenders and Borrowers Need to Know About the Appellate Ruling in Momentive
(DBN)

____________

Insurance:

Professional Liability Exclusion Precludes Coverage for D&O Claims against Ponzi Schemer’s Bank
(DBN)

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Trade Credit:

Risky Business: Selling to a Potentially Insolvent Customer
(DBN)

____________

Gambling:

Caesars Gets Time to Craft Bankruptcy Reorganization Plan Caesars Allowed to Remain in Control of Bankruptcy for Six Months
(DBN)

Abandoned baby found in Atlantic City casino
(DBN)

____________

Autos:

Judge puts GM ignition-switch lawsuits on ice, for now
(DBN)

____________

Sovereigns:

Ukraine takes 'odious' path to default
(DBN)

Argentina Has Room for Holdout Negotiation, Scioli Adviser Says
(DBN)

____________

UK:

Paid in pennies and now left in the dark
(DBN)

McGuireWoods and Scott & Scott to take on Tesco in multibillion pound shareholder claim
(DBN)

____________

EU:

European parliament gives final approval to cross-border insolvency regime based on business rescue
(DBN)

____________

PIIGS:

Greece, creditors converge in talks but still room to cover- minister Greek government says hopes for deal with lenders by Sunday ECB working on the assumption that Greece won't leave euro: Constancio Greece's hopes for a quick deal are getting smashed to pieces Greeks, EU can’t agree whether deal is near
(DBN)

Lew finds little leverage to push for Greek deal
(DBN)

Myth or reality? Greece's debt saga festers
(DBN)

How four Greek businesses are coping amid default crisis

European stocks rally on reports of Greece 'staff level accord' with creditors EU officials dismiss Greek statement on aid agreement being drafted Greek Talks Said to Be Going Nowhere Worries over Greece eclipsing G7 agenda as default threat looms ever closer In slip of tongue, Greek official uses taboo word 'troika' Larry Summers: Greece Needs to Be Clearer on Reforms Greek PM expresses confidence in reaching debt deal with lenders soon
(DBN)

Greece owes drugmakers $1.2 billion – and counting
(DBN)

ie: 37000 mortgages in arrears of over 720 days
(DBN)

____________

China:

China’s richest man might have been running a massive fraud
(DBN)

China markets plunge in record turnover as margin traders take fright China stocks plunge 6.5%
(DBN)

Hope yet for creditors in China property-bond saga
(DBN)

____________

Japan:

General Overview Of Insolvency Proceedings
(DBN)

____________

Latin America:

A New World For Latam Creditors: Insolvency Reform In Latin America
(DBN)

____________

Australia:

More twists to come in the Gina Rinehart saga Gina Rinehart loses control of $5b family trust
(DBN)

____________

Romania:

Romania's Hidroelectrica to stay in insolvency process
(DBN)

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Switzerland:

Swiss charge ex-Bank of America employee in Parmalat probe
(DBN)

____________

South Africa:

Creditors of S. Africa's African Bank agree to restructuring
(DBN)

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