December 10, 2007

Daily Bankruptcy News

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Law:

Law Firms Face Gray Area as Boomers Age
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Lawyerly Lairs: Cleary Expands; New Digs for Gibson
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Lawyer of the Day: Charlene Morisseau
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A Simpson Thacher Trivia Quiz
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Court Intrigue for the King of Torts
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Scruggs case: A league of his own
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Lawyer Of the Day: Skadden's Sheila Birnbaum
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Scruggs Requests To Be Cleared For Takeoff
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Fifth Circuit Rulings (and Scruggs's Troubles) Bolster Insurers
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The Bonds Case: Should Ryan Be Speaking To the Press?
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Most U.K. Law Firms Plan to Poach Rival Legal Groups
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U.K. Firms Cool on 'Disappointing' Singapore Plan
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Jones Day Elects New Managing Partner in New York
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BigLaw Firm Had "Legitimate" Cause to Fire Black Woman Associate, NY Judge Rules
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Senior Women Lawyers Paid Less Than Male Peers, Survey Shows
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Partners Contribute Hidden Capital
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Alleged 'shakedown' defended as valid tactic
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Diversity Mathematics 101: What Counts Within Law Firms?
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Corporate Reform:

Enron and on
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Sharper Claws for Recovering Executive Pay
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Options case highlights derivative suits
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Judge: Brocade CEO's crimes caused no loss
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Lack of remorse, obstruction, could lead to seven-year sentence for Black
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Left Out To Dry - Hollinger: The Untold Story; While all eyes were focused on the downfall of Conrad Black, no one was minding the business. Monday's sentencing will be cold comfort for empty-handed shareholders
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`Libel chill' tactics backfired on Black
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Court will decide fate of Nacchio next week
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Tax:

Supreme Court grants cert in bankruptcy case (scroll down)
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Bush Prods US House to Block Alternative Minimum Tax
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Who Can Get Congress To Take Action on AMT?
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AMT: The $50 billion fight
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Many may see tax bill in place of IRS refund
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Tax Fix May Doom Spending Cuts, and Democrats
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Miami Beach investor accused of misspending $160 million
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Economy:

The Fed Gets Ready to Cut Rates Again
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Bernanke May Risk `Fool in the Shower' Label to Avert Recession
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Profit Slump Fuels Recession Fears
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The Fed: 'Pushing on a String'
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America faces day of reckoning with debt
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"Decoupling" debunked as U.S. collapse infects world
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US Sees Job Growth, Rate Cut Still Likely
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Consumer confidence approaches two-year low
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Slowing Job Growth Seen as Ominous Sign for Economy
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Employers add jobs but consumers gloomy
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Consumers Are Pulling Back
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Aviation:

UAL Dividend Doesn't Fly With Employees
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$250M UAL reward
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Carriers not done cutting
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Jaffe Raitt counsels airlines, lenders
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Alitalia boss leans to AirFrance-KLM bid
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Furniture:

Levitz bankruptcy erects hurdles for customers
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Sofa Express closing doors; 900 to lose jobs
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Tech:

A messy fight for control at Pay by Touch
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Bankruptcy Crimes:

Bankruptcy fraud trial wraps up in federal court
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Religion:

Judge determines, seals abuse victims' allocations
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Forest Products:

Judge OKs emergency Pope & Talbot loans
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Finance:

Moment of truth for monolines
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Scale of shutdown in debt markets revealed
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Municipalities:

Some states have high-risk holdings
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Private advisers lurk in state fund's drama of panic
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Local Governments Deposited $128 Million In State Fund
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Multiple factors led to run on fund
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O.C. investments shunned by others
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County investment woes revive ghost of 1994 bankruptcy
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Agriculture:

USDA Losing Money on Ineffective Farm Loans
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Financial Literacy:

Student program focuses on finances
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Corporate Governance:

Pay pals facing fire over consult conflicts
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Derivatives:

Derivative Trades Soar to Record $681 Trillion in Third Quarter
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Real Estate:

Warren: The Sandbag Plan
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Loan bailout is not likely to help many homeowners
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Dissecting the Bailout Plan
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Loan fix requires investors to play along
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Show Us the Mortgage Relief
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Are Plan's Critics Also Investors?
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Homeland Insecurity
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Housing: a crisis with staying power
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Loan Mess Rivals S&L Meltdown
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A Scarecrow Sets Up Straw Men
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Bush's mortgage plan attributed to GOP fears of recession
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Bush's plan on mortgage problems isn't enough
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Bush's subpar subprime rescue plan
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Facing a Mortgage Crisis That Is Far From Over
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No single tactic will beat the subprime crisis
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Subprime freeze plan: Who's left out
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The Paulsen Plan -- Not Impressed
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Snags in mortgage-rate relief effort
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Mortgage hot line full of 'hoops,' critics say
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Lenders skeptical of Bush's mortgage plan
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Congress Still Pushing Lending Bills
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Subprime relief rankles the thrifty
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No free ride for subprimers
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The True Cost of the Mortgage Bailout
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Mortgage Bailout Pits Homeowners vs. Investors
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Bush's Subprime Mortgage Freeze Stymies Bond Market
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Bad Mortgage Medicine
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Did Authorities Miss Pass at Crisis?
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Mortgage safety net unequal
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Effects of losing home run deep
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Foreclosing on dream
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Subprime bailout has home buying industry guarded
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Legal Web Sites Shake Up Condo Market
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Homes no haven even amid boom
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New suburbs in fast decay
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Lenders Report Rising Tide of Delinquent Loans, Foreclosures
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6 Things to Know About Bush's Plan
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The trouble with the Paulson plan
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Like Subprime Mortgages, Some Construction Loans Are Delinquent
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NVR and Toll Bros, Top Plays as Home Builders Near Bottom
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Freddie Mac tightens delinquent loan purchases
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On the Phone With the Home in The Balance
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'Mediocre prime'
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Mortgage seekers turn to high-cost loans of last resort
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Bankruptcy judge approves sale of remote West Texas resort
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Mortgage company scamming homeowners in dire financial straits?
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Credit Crisis Puts Crimp in Commercial Market
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In Cape Coral, a boom gone sour
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Fed plans toughened subprime lender rules
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Loan default filed against CC Myers
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Delta Financial shuts after staff's final exit
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Ominous Signs on the Housing Front
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Rev. Jackson Takes On Mortgage Crisis
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Downpayment loans allowed by Freddie Mac fed the crisis in housing
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Lawsuit in Dwek case abruptly dropped
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Lennar's fire sale
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Bankruptcy Reform:

Bankruptcy law needs changing
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President's "Plan" for Subprime Mortgages
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Retailing:

CompUSA Closing ALL stores
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Student Debt:

College Loans by States Face Fresh Scrutiny
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Student debt latest asset type to go south
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Hedge Funds:

The F.B.I. sets up a hedge fund to lose money
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Predatory Lending:

Payday-loan bans backfire
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Time to rein in 21st century loan sharks
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Health Care:

Hospitals Need Lawyers -- Stat!
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Hospitals' finances in the hot pink
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Lack of charity care doomed Pascack Valley hospital
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'Fig' Closes Locations - Company Files For Bankruptcy, Leaves Customers Looking For Answers
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Fig Lipo Dissolve Abruptly Closes Its Doors
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Employees Surprised By "Fig's" Sudden Closing
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Troubled nursing facilities being watched
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Closing set for Kessler sale, despite fundraising shortfall
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One couple's descent into health-insurance hell
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Hope for survival at Aliquippa hospital
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Horse Racing:

Audit: NYRA shorted state $10.9M
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A Losing Bet
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Jewelry:

Fabrikant Creditors to Receive Loan Info
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Pensions:

Pension plan funding plummets in November
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New Bankruptcy Opinions
(1 new opinion 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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NEW
Claim Trading Alerts
The easy way to monitor
bankruptcy claims trading
30-Day Free Trial

Bankruptcy Fees: Size Matters
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Banking:

Citigroup looks to make decision on chief
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Big banks scale back plan to aid in debt crisis
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UBS May Take More Writedowns After Subprime Crash, Analysts Say
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UBS Comes Clean
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Societe Generale Takes On $4.3 Billion of SIV Assets
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Banks' biz loan losses mount
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Wall Street:

JPMorgan ducks subprime, poised to grow
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Stocks Climb on Optimism for Lenders
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Fed's Inflation Measure Says Rates Can't Fall as Traders Expect
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Cruz exits Morgan with at least $72M
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Politics:

How to Solve a Subprime Mess? An Iowan Says, Let's Caucus
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John Edwards Statement On Bush Plan To Ease Mortgage Crisis
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Bush, Dems point fingers over mortgage crisis
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Mortgage relief plans roil D.C.
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Autos:

Dana in home stretch of bankruptcy
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Judge Approves Delphi Plan Solicitation
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Auto loans latest victim
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Elder Debt:

Elder financial abuse has become a hidden national epidemic
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Class Action Claims BofA Cheats Old Folks
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Credit Cards:

Credit Card Debt Another Symptom of the Mortgage Crisis
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The Next Financial Crisis: Credit Cards
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Consumer borrowing accelerates again
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"Invasion of the Moneylenders - Until Death Do You Part"
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An association representing U.S. bankers says it is a "myth" that Americans are "up to their eyeballs" in credit card debt
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Secondary Market for Card Debt Looking a Bit Wan
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Valuation:

When the Price Isn't Right
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Food/Drink:

Jays' sale costs 400 Chicago-area jobs
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Golf:

Banks says Auburn country club defaulted on $61 million in loans
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Psychology:

Darkness that grows as fast as your debt
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Transport:

Pensioners Question Sea Containers Ch. 11
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Diesel price hikes driving change in several industries
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Chapter 11 Plan Ballots: A New Resource Goes Online
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UK:

Firms expect 10% jump in insolvencies
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An investment banking lexicon (new post-credit squeeze edition)
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Northern Rock Wants to Bankrupt It's Customers
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Northern Rock Appears to Intentionally Violate Banking Code and OFT Debt Collection Guidelines
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Rock in last-ditch talks with bidders
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The Rock should tell PwC its number's up
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Millennium Dome 'was bankrupt' within weeks of opening
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U.K. Considering Sarbanes-Like Rules
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Scottish creditors losing out on more than £8.5m
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Trust goes 100% liquid and waits for the coming catastrophe
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UK Consumers Say Economy Is A Major Concern
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Owners may be forced to sell homes
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BCCI prompts new case limits
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Victims of asbestos fight payout 'apartheid'
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Bankers claim IVA code deal
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Libor will force insolvencies, says E&Y
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China:

China to Order Banks to Raise Cash Reserves
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Germany:

Postal firm may face bankruptcy
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Axel Springer plans to wind up PIN Group, write down 600 mln eur
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Australia:

Lenders let teens notch up massive debts
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Bankruptcy the only option for debt-ridden teenager
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Canada:

Capitol Theater to get day in court
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Israel:

Israeli banks not facing credit crisis-regulator
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Norway:

Townships realize losses on troubled Terra fund
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