August 2, 2007

Daily Bankruptcy News

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Law:

Every Pay Raise Has Its Price
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King & Spalding Expands Houston Bankruptcy Practice With Arrival of Partner Henry Kaim
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WilmerHale raid increases King & Spalding NY woes
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Subprime: Lawyers' Latest Full Employment Act?
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Tighter Credit Procedures Have Little Impact on Law Firm Income
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Firm's pay review to usher in new era of managed lockstep
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Associate Survey: Want to Leave? Big Law's OK With That
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GC Without a Bar License Defends His Status
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Duane Morris Sees Some Success After Merger
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Say What?!
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Indictment of Dead Lawyer's Aide Adds More Turmoil to Fight Over Former Firm's Finances
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Firm Founder's Shower Fall Leads to Significant Jurisdiction Ruling at 3rd Circuit
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West Coast duo strengthen in New York
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One in 10 now aspire to non-partner roles in law
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Mergers and Dispositions
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Broad Secret Spy Program Confirmed
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Anonymous Lawyer
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MergerWatch - 2007 Second Quarter Activity
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Alternatives to Law Firms for EDD Document Review
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Aviation:

N'west bankruptcy attorneys seek bonus
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DOJ Fines British Airways $300 Million
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Northwest, Pilots Reach Workload Deal
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Alitalia postpones plans again
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Economy:

The Pain Moves Beyond Subprime
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Manufacturing Grows, Export Orders Gain
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Factory Growth Slowed
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Is Manufacturing Slowing Down?
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Volatility Rising
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Less Jobs, More Worries
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Paper:

Marcal Creditors Want Family Off Plan
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Religion:

Reviewer Of Diocese Finances To Tell Findings In Court
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Parishes withheld millions
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Parishes will heed deposit request
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Archdiocese faces 6 more abuse suits
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Lumber:

Spokane Fingerjointer Folds:
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Timber:

Scotia takes a blow to its confidence
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Turnarounds:

MBA Programs Recognize Turnaround Management is Here to Stay
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Keeping Lenders Informed During a Turnaround Engagement What (and When) to Tell Them
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Corporate Reform:

Former Take-Two Interactive CEO receives five years of probation for option backdating
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Black's Bid to Travel to Canada Is Denied by Judge
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Accounting:

Learn how to separate financially fit companies from the cash-strapped ones
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Autos:

GM, Ford, Toyota, Honda Say US Sales Fell in July
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Chrysler Sales Decline 8.4%
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Chrysler Financial gets its loan, but banks pay up
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Auto sector rattled by brutal July US sales decline
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Detroit loses US market crown
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June losses of $330M for Delphi
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Solvent Restructuring of Dana's U.K. Pension Liabilities
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Real Estate:

Wall Street often shelved damaging subprime reports
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Investors are growing wary that subprime-related losses have been hidden in financial firms' books, or stuffed in off-balance-sheet vehicles
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Few Remaining Lenders Likely in Trouble
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Accredited Warns About Solvency
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US pending home sales rise
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Beazer Homes Rebuts Bankruptcy Rumors
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Beazer Calls Rumors 'Scurrilous'
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Speculators Burned Chasing Beazer Rumors
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RAIT's Ties Extend to Troubled Homebuilders
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Highland Capital Benefits From Shorting Subprime
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NovaStar stock hits new low
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Subprime, Where Did The Risk Go? Far and Away
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Subprime Defaults Blamed for US Earnings Setbacks
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Another Shoe May Drop When Mortgage Rates Go Up.
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Bad loans, bad mortgages and bankruptcies
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Risk Fears Become Self-Fulfilling
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Impac Mortgage Slumps on American Home Woes
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Florida Firm's $82M Bid For S. Padre Land Bought In Bankruptcy Auction Awaiting Final Sign-Off
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Owens Corning profit down 88 percent
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Fieldstone halts loan applications
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Lender Liability:

Testing the Limits of Lender Liability in Distressed-Loan Situations
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Food/Drink:

Owners of Express Lane file for bankruptcy
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Landry's works on debt arrangement
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Fitness:

Bally Total Fitness Obtains Favorable First Day Rulings
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Bally's Gets Caught Up in Loan Market Clampdown
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Entertainment:

Creditors target five more rides at Wild West
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Grand Prix race center drives into bankruptcy court
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Horse Racing:

NYRA advisers await funds
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Tax:

Charting the Evolution of the Chapter 11 Transfer Tax Exemption: Different Subsection, Same Lack of Clarity
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Bargains Await Buyers Skilled at Navigating Section 363 Minefields
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What Section 363 Sales Offer -and What They Don't
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Secured Lenders Face Variety of Issues in Credit Bidding
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Stalking Horse Bidders Look to Score Big in 363 Sales
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New Bankruptcy Opinions
(No new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Chapter 7, 12 & 13 Private Trustee Locator
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Recent Ch. 11 Filings
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Bankruptcy Jobs:

(1), (2), (3), (4), (5), (6), (7), (8), (9), (10), (11), (12)
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Bankrupt Profits: The Credit Industry's Business Model for Postbankruptcy Lending
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Hedge Funds:

Bear Stearns hedge funds file for bankruptcy
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US firm seeks liquidation for two bankrupt Cayman Islands hedge funds
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Fund Investors Launch Bear Claims
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Newspapers:

Hollinger Inc. seeks bankruptcy shelter, asserts control over Sun-Times Media
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Power play over fate of Sun-Times
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Dissenter Hits Fat Fees in WSJ Deal
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Credit Cards:

Warren: The Arbitration Scam
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Bankruptcy Reform:

BAPCPA's Impact on Exclusivity Is Hard to Gauge
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Prepacks Spike in U.S., U.K. Following Bankruptcy Reform
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Student Debt:

NY's Cuomo expands student loan probe to athletic departments
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Student Loan Potpourri
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UCLA, UH, CSU, UofL, 4 Ohio colleges, AU, UAB, UNA, UCF, 3 Michigan universities, Tennessee Tech, Rutgers, MU, BGSU, KU, TCU, Pitt, UO, OSU
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How One Firm Mined the Student-Loan Mess
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Loan consolidator stops deals
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Banking:

Banks Clamp Down On Corporate Credit
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Bankruptcy Crimes:

Ex-Rye man sent to jail for bankruptcy fraud
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Plan Confirmation:

Insider's Acquisition of Claims to Create Accepting Impaired Class Constitutes Impermissible Gerrymandering
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Exploring the Boundaries of the "Independence Principle"
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Bottom Feeding
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UK:

Eight million Brits in serious debt as interest rates poised to keep rising
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Last RB insolvency partner quits post-merger
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Credit 'cockroaches' to multiply, experts warns
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Unsecured debts rise by 30%
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KPMG warns of asset trap when clearing pension deficits
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Insolvency service appoints new chief executive
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Russia:

Yukos Dutch unit assets cannot be sold, says lawyer hired by ex-management
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Canada:

CIBC Leads Canadian Bank Stocks Lower on Subprime
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Felderhof's lawyer no closer to payday
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Germany:

Recent Developments Affecting Distressed Asset Investors and Lenders in Germany
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