December 12, 2007

Daily Bankruptcy News

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Law:

Shearman & Sterling Names New Bankruptcy Partner
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Reed Smith Names Bankruptcy Partner
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Trustee Says Pillsbury Should Return Fees
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Dewey & LeBoeuf: We Pay You $160K+, So Take a Cab Home
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Bonus Watch: Beyond Biglaw
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When Will We See the Next Pay Raise?
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The Miss. Mess: Wiretaps and Warrants
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Mintz Levin Loses Bid to Up Diversity
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Gift Giving, Big Firm Style
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Court Supervision of Attorney Ordered due to Lack of Civility
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Lawyer Convicted in Sex Scam
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"This was ordinary conduct that lawyers do"
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Judge's "Shocking" Words Lead to Censure
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Attorney Who Made Up Kidnapping Had 'Meltdown,' Husband Says
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BigLaw Firms Aim to Muscle Into City of the Broad Shoulders
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Closing of Court Cafeteria Shutters Law 'Office'
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Say What?!
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BigLaw Firms Fill Up Campaign Coffers at Record Pace
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Fast-Growing Foley Now in Miami, Lures 9 Buchanan Lawyers
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Sure Cure for Jury Duty: Carry Sword
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Sonnenschein Goes Global, and Democratic, Again
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Economy:

Fed Lowers Rate by a Quarter Point to 4.25 Percent
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The Fed Blew It
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Fed Skeptical of Recession, Cut Disappoints Investors
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Why Borrowers May Not Benefit From Rate Cut
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Fed may take action on liquidity within days
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Why the Fed Hung Tough
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Parsing the Fed: How the statement changed
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Fed acts as corporate America braces for slowdown
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Fed does the bare minimum, in denial
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Fed cuts key rate by quarter-point, but this time it's not unanimous
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PIMCO's Gross: Fed funds headed to 3 pct
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Are We Headed Toward a Recession?
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Wholesale inventories leanest ever in October
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Recession anxiety overblown: CIBC World Markets
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Wall Street:

Rally Cut Short on Rate Decision
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Stock Futures Rise After Tuesday's Drop
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Fed Lowers Rates, Wall Street Tumbles
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Betting on Failure
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The Big Rate Cut Letdown
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Bernanke's market honeymoon is over
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Pensions:

Many young workers have little or no 401(k) savings
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Oil/Gas:

Earth Biofuels bankruptcy petition dismissed
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SEC moves closer to bringing oil and gas reserve disclosure into the 21st century
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Ethanol plant hires turnaround pros - Plant employees could be out of job
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Autos:

Dana Installs Big Auto Names for New Board
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Delphi has buyer, but area plants out of luck
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Law & Order:

Nina Reiser was making plans when she vanished, bankruptcy lawyer says
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Textiles:

Quaker Fabric Wants Ch 11 Extension
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Health Care:

Lipodissolve Firm Will Likely File Bankruptcy
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Brownsville hospital sues former owners
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Haven Woes Could Fuel Nursing-Care Reform
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Tritt Sues Haven CEO's Record Company
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Haven: Travis Tritt sues record label
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Haven Healthcare To Get Restructuring Officer
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Barnert has two buyers on tap
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Work remains, but a good first step for Kessler
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Closing weight loss clinic causing costly concerns
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Health-care costs take bigger bite of income
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BMC creditors really want to quiz ex-suitor
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Putative Class Action Settled For $600
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Ethics:

"Bankruptcy Lawyers Behaving Badly"
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Accounting:

SEC Settles with San Diego's Auditor
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Audit Watchdog Issues Subprime Fair Value Alert
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S.E.C. Planning to Delay Accounting Rules for Small Companies
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Real Estate:

Freddie Expects 4th-Quarter Loss, Record Default Rate
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Fannie, Freddie Chiefs See Tough 2008
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Freddie Sees $5.5B-$7.5B More Losses
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Freddie sees up to $12B more in losses
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H&R Block Losses Soar
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TOUSA proposes amended credit agreement
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Real estate trade group lifts outlook for 2008 home sales
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How the subprime mortgage crisis works
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The alchemy at the center of the subprime-loan crisis
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The standoff between buyers and sellers in Paramount, Calif., helps explain why we're still a long way from the bottom of the real estate cycle
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Filing reveals the man behind the $217M plan to buy Trans World
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Bank co-ops keep US mortgage business afloat
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Interest rate 'freeze' - the real story is fraud
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Many will still face foreclosure
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Subprime freeze plan: Who's out
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Subprime Hotline Gets 45-Thousand Calls In Three Days
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CA Governor Comes to Oakland to Boost Foreclosure Project
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Lawyers can charge only flat fee in tax-sale foreclosures, judge rules
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Lawyer in Dwek case vanishes
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Trump spins in foreclosure game
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NYC initiative to help homeowners facing foreclosures
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Attorneys want class-action suit in mortgage case moved
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Nightmare on Higbury Court
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Banking:

Troubled Citigroup Names Pandit as Chief Executive
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Citigroup's Pandit Vows `Front-to-Back' Cost Overhaul
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Can This 'Genius' Save Citi?
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SEC Urging Banks To Apprise Investors On Subprime
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Credit markets face high price for sleight of hand
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WaMu shares slide as firm slashes 3150 jobs
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Crisis Control At WaMu
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Rating agencies split on Washington Mutual; S&P affirms while Fitch and Moody's downgrade
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WaMu's $1.6 billion write-down: Oh the shame of it all
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WaMu takeover talk rekindled
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UBS to strengthen risk controls, cut balance sheet
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UBS failed to comprehend sub-prime risks
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Big Banks Scale Back Plan to Aid in Debt Crisis
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Banks and investors seek SIV exit routes
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Chasing AIDT cash, creditors get in line
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Municipalities:

Withdrawals From Fla. Fund Slow
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Florida Official Seeks Probe of Investment Pool
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Liquor may save town from bankruptcy
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Bankruptcy Crimes:

Oil Dealer Who Admitted To LIHEAP Fraud Gets 21 Months
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Woman Pleads Guilty to Fraud Scheme
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Clinic founder sentenced
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Food/Drink:

Viansa Winery sold to creditor
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Debt Collection:

Woman denies "revived" debt to collection agency
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Chapter 13:

The Anatomy of U.S. Personal Bankruptcy Under Chapter 13
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Fraud:

SEC Freezes Assets In Alleged Pyramid Scheme
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Charity directors go to prison
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Aviation:

Airlines Predict Profit Slump on Fuel, US Demand
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Security Aviation lawyer to return part of fees
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Psychology:

The isolation of debt and other such things
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Corporate Reform:

Are Big Bonuses Still Due After a Bust?
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Nacchio Seeks OK to Use Information
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Kipnis, Black's Top Lawyer, Escapes Prison Time
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Conrad Black's shabby downfall
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Behind the mask of defiance
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Judge to decide on Radler's plea deal next week
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How Companies Are Managing With Monitorships
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Brocade Trial Witness Said to Cast Doubt on Part of Testimony
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SEC halves backdating backlog
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Under the Threat of Corporate Indictment, to Pay or Not to Pay?
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New Bankruptcy Opinions
(2 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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Bankruptcy Reform:

Lawmakers Reach Mortgage Bankruptcy Deal
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Loan-Relief Legislation Advances
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Reps. Conyers, Chabot strike deal on bill to slow down housing crisis
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New Bankruptcy Bill Is One Step Closer
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NAFCU, Consumer Groups & Congress Strike 'Workable Solution' on Mortgage Bankruptcy Reform
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Obituaries:

Herbert Kronish
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Fees:

ABI Chapter 11 Professional Fee Study
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Student Debt:

Florida Lender to End `Kickback' Ties to Colleges
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Cuomo settles with lender in student loan probe
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New code for student lenders
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Credit Cards:

Consumer revolving credit continued its upward spiral in October
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42% of Surveyed Americans See Cards as Barrier to Saving
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Predatory Lending:

AK AG reaches settlement with payday lenders
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Consumer Group Critiques Fed Study on Effect of Payday Lending Bans
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Celebrity:

Steelers' Ward Filed For Bankruptcy Over Locker Room Bar
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Utilities:

Calpine Allowed to Sell $144M in Notes
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Calpine posts loss for October
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Pro Bono:

Bankruptcy Pro Bono Representation of Consumers: The Seven Deadly Sins
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UK:

Northern Rock Says Potential Bidders Are Undervaluing Company
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Canada:

Former Norbourg CEO Lacroix convicted on 51 fraud charges
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Politics:

Obama talks pensions
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Finance:

MBIA May Post $4.2 Billion of Losses, Barclays Says
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Theme Parks:

Wild West World games, prizes draw dozens to auction
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Retailing:

Retail Closings Spur Customer Concerns
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Financial Literacy:

Financial Education for Bankrupt Families: Attitudes and Needs
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An Empirical Examination of 'Barrier to Exit': How Does an Entrepreneur-Friendly Bankruptcy Law Affect Entrepreneurship Development at a Societal Level?
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UK:

Why the credit squeeze is a turning point for the world
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Brighton bus firm fears bankruptcy
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The hospital that set out to cure itself
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Germany:

German investor confidence at 15-year low
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Canada:

Pulp industry not kind to shareholders
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No quick fix expected for ABCP woes
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Tahera says could sell itself, file bankruptcy if deals fall through
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Italy:

Prelim Hearings Open In Parma For 15 Bankers In Parmalat Case
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China:

Nearly 1000 Chinese shoemakers bankrupt
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Japan:

Japan November corporate failures down 16.3 percent from October
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Japan Nov Corporate Bankruptcy Cases Up 20.2% On Year
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