December 20, 2007

Daily Bankruptcy News

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Law:

How to Avoid Being the Star of Post-Party Gossip
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Corporate Attorneys Split on Whether Partner's Refco Indictment Is a Warning for Others
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Bonus Watch: Kirkland & Ellis's Generous Bonuses
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Survey Results: Bonuses (Washington, DC)
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Job of the Week, NOT
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Headcount Time
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Predictions for 2008
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Say What?! - Bankruptcies
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Holiday Cards Of the Day
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Students Are Suing Their Law Schools In Droves
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Sexy M&A Litigation On Tap In Delaware, Tennessee
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China's Alpha & Leader Goes to California
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Firm Retreat Risked Karaoke Before Job Offers
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Attorney Whose Blog Post Blasted Controversial Judge Fights Bar Investigation
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Congress OKs Extra Seat for 9th Circuit
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Martindale-Hubbell Faces Challenges
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Nonlawyer Experts Help Small Firm Contain Rates
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Dealing With Law Firm Merger Financial Data
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Lawyer Rating 'Ludicrous' but Legal
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Tax evasion costs lawyer 16-month sentence
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Md. Attorney Discipline Questioned, Decades of Data Disclosed
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The Lawyer's Christmas Carol
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Economy:

Fed special auction draws good participation
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Fed's Lacker sees slow growth, inflation a worry
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Recession: Is it already happening?
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Sovereign Shift
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There is certainly a path out of the gathering banking crisis, but no guarantee that the world economy will find it
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Professor Forecasts Consumer-Led Recession by Summer
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Wall Street:

Chinese fund takes $5bn Morgan Stanley stake
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We're From China. We're Here To Help.
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Power Flow Reverses For Wall Street And China
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For Morgan, Goldman's Success Is Cruel
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Morgan Stanley's shocker
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Bitten by Blackstone, China Wants Interest This Time
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Morgan Stanley's Subprime Submergence
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Why Wall Street should be more like a cockroach
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Stocks Turn Lower on Credit Worries
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Futures Rise Thursday Before Bear Stearns Posts Earnings
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Bear Stearns likely to report loss
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Bear Stearns Reports Full Year and Fourth Quarter 2007 Financial Results
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Bear Stearns chief declines bonus
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The Bear Flu: How It Spread
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Insurance:

New Jersey Supreme Court Rejects Plan Accounting for IBNR Claims
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Student Debt:

Sallie Mae Shares Have Record Drop After CEO Cites Costs
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More Elite Eastern Colleges Dump Loans
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Aviation:

Aspen Maintains Control of Ch 11 Case
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AlpiEagles: creditors have petitioned in bankruptcy
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Golf:

International Irrigation Show Asks Scary Question
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Utilities:

Court OKs Calpine Ch 11-Exit Plan
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Software:

SCO President Jumps Ship
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Hedge Funds:

Distressed debt hedge funds to shine in 2008
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Bear Stearns Sued by Barclays Unit Over Fund Collapse
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Corporate Governance:

Shareholders winning more battles with corporate boards, study finds
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Enron:

Judge awards BofA $347M
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Rating Agencies:

Rating Subprime Investment Grade Made `Joke' of Credit Experts
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Jewelry:

Alpha Omega owner leaves amid rumors
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Real Estate:

YTY US Home Foreclosures Rise 68 Percent in November
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Lawsuits linked to subprime damage expected next year
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Schumer Urges More Forceful Response To Lending Crisis
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Home Mortgage Crunch: Is it Better to have loved and lost?
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Why aren't lender's reaching more consensual deals with distressed homeowners?
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NC home foreclosures up 143%
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Colorado rises to fourth in November foreclosures
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Arizona foreclosures fall for third month in a row
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Ariz. Promotes Relief for Foreclosures
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Florida foreclosures rank No. 2 in nation
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Levitt and Sons to stay operational on Wachovia deal
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TOUSA amends credit agreements
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Peter Schiff on the Housing Market and the Rescue Plan
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Builder Confidence Remains Flat in December
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Five regional banks to set up $125 mln fund
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The Fed's Not-So-Funny Comedy Routine
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Mortgage woes hit LI's financial services sector hard
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Mortgage Applications Fall Nearly 20 Percent
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County may ask for mortgage ownership proof before foreclosure
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Banker sees shared blame in loan crisis
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Former American Home Mortgage workers struggle to find work
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Real estate attorneys sue HomeBanc, JPMorgan
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Subprime woes just beginning for many
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Home Depot lower on more housing troubles
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Mass Torts:

Third Circuit to Hear Asbestos Bankruptcy Appeal
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W.R. Grace to Pay Toward Cleanup of Hazardous Waste Sites
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Finance:

S.&P. Cuts Rating on Bond Insurer
(NYT: separate free registration required)

Monoline cracks - is this where financial subsidence starts for real?
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CIBC May Take $2 Billion Writedown on ACA Downgrade
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CIBC losses could exceed $3-billion
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Ambac, MBIA Outlook Lowered by S&P, ACA Cut to CCC
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Banks Study Bailing Out Struggling Bond Insurer
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Treasury bonds rise as insurer ratings threatened
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Bankruptcy Rules:

Bankruptcy Appeal Time Extension Proposed
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Health Care:

Oh! The efficiency of the current U.S. health care system
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Contraceptive maker files for bankruptcy
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Shares Tumble on Filing of Chapter 11 Bankruptcy
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AMH posts another monthly profit
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Valley Health System's Searl out of options
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Paper:

Marcal Paper Sale Documents Subpoenaed
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Autos:

Chrysler's Nardelli hemmed in by credit crunch at Cerberus
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Tax:

Another Bush Tax Cut
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Data Privacy:

TJX, Banks Settle Litigation Over Massive Data Breach
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Toys:

Lionel Struggles to Exit Bankruptcy
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Consultants:

FTI Consulting Promotes Ten to Senior Managing Director Level
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Bankruptcy Crimes:

Tenorio couple found guilty of bankruptcy fraud
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Fraud rap leads to 32 months in prison
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Energy:

Failed ethanol plant gives up license
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Personal Finance:

When the homeless guy is your hard-working pal
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Layoffs:

Facility Closures and Layoff Announcements (Dec. 16-22)
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Financial Literacy:

Studying to be in debt
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Software:

SCO Asks Bankruptcy Court to Approve New Leases in NJ and Utah
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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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NEW
Claim Trading Alerts
The easy way to monitor
bankruptcy claims trading
30-Day Free Trial

Bankruptcy Reform:

The Effect of Bankruptcy Reform on Mortgage Interest Rates
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Turnarounds:

How to Face 63 Angry Creditors
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Derivatives:

The credit swap credibility gap
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Banking:

Fifth Third Sees 4Q Profit Below Street
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Predatory Lending:

Payday lender to close all Penn. locations; NC sites already shut
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Corporate Reform:

Plausible Deniability
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Ex-Refco exec Maggio pleads guilty to fraud
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Morgan Stanley has agreed to pay $17 million to settle fraud charges
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Judges narrow case to two points; The appeal's outcome could boil down to the significance of Nacchio's inside information and a witness' exclusion
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Court approves $3.2bn Tyco settlement, $464m in legal fees
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Timber:

PALCO, creditor negotiations breakdown, noteholders to seek file competing plan
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Timberland debate continues
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Gambling:

Tropicana nears deal to avoid bankruptcy
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Tropicana can't gain from sale, CCC says
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Trop trustee adds new role
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Food/Drink:

Trustee opposes LeNature's liquidation option
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Pensions:

The End of Retirement
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Concerns Grow Over Work of Official/Former Trustee in California
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Will the Increased Prevalence of Prepackaged Bankruptcies Lead to More Chapter 22s?
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UK:

Wood's hedge fund builds 10% stake in Northern Rock
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Northern Rock share price up amid B&B speculation
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Divorcee fights ex-husband's creditors in landmark case
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Insolvency rules altered to protect retailers
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Canada:

CIBC warns of another possible hit from subprime mortgages
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CIBC comes clean on ACA
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Forestry firm Tembec to convert US$1.2B debt into shares for bondholders
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Tembec founder assails debt plan
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Bankruptcy fears for Quebecor World as Roto deal collapses
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Stinson's towering dream crumbles
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Accused thief's mansion, Mercedes and millions all gone
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Trouble at TQS
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Some Portus investors may get a payback
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Norway:

Norwegian towns seek court freeze of brokers' personal assets over U.S. subprime losses
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China:

China Raises Rates to Nine-Year High on Inflation
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Cashed-up China set to hunt down more US bargains
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Germany:

Germany Wallows In Credit Woes
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Japan:

Japanese economy slowing
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'Self-inflicted recession' looms over Japan
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Italy:

Parma Prosecutors Conclude Parmalat Probe Into Citibank Executives
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Australia:

Rivals swoop on Centro assets
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