June 22, 2007

Daily Bankruptcy News

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Aviation:

Pilots belittle 30.5% pay raise
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Getting everyone on board in Delta's Chapter 11 emergence meant winning creditor and employee support -- and little sleep
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Law:

A Few Penalties (Short of Getting Banned From Court)
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Did the french fry judge get some kind of ego boost?
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Dealmakers of the Year
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Press Frets as More Judges Claim Libel
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DLA Piper ups London pay 19%
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Reed Smith Adds NY Bankruptcy Partner
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The End of the Partnership Track?
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Clifford Chance gatecrashes global LBO rankings
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Former Senator Hates Law, Looking for Love
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Bracewell & Giuliani launches in London with Cleary raid
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Pay Raise Watch: Perkins Coie to $160k in California
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Pay Raise Watch: California
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Weil's new associates to make as much as other firm's partners
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Justices Tighten Rules on Shareholder Suits
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Reports that the Supreme Court decision is a major victory for corporations may be exaggerated
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Internal Strategy
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Lawyers in cat fight
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Newcomer Firms Thrive in Los Angeles
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Firm posts risible video
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Say What?!
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Lawyer, Bundler, Hillraiser
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Bingham Grabs Second Japanese Firm
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Skadden Arps: Serving Clients . . . and Free Lemonade!
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Big Law Summer Associates Asked to Give Back
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"Would You Like a Chocolate Souffle With Your Subpoena?"
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Economy:

Brokerage shares fall on troubled credit markets
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US Economy: Leading Indicators, Manufacturing Rise
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Expansion of Economy Is Expected to Continue
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Economists have found that American families today are more likely to experience big drops in their income than three decades ago.
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U.S. economy to expand in coming months
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Real Estate:

Ex-Employees Sue Bankrupt New Century
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H&R Block swings to loss as subprime weighs
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Mortgage rates fall as fears about housing continue
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Boston: One in 177 homes in foreclosure
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Barclays Forecasts No `Material' US Subprime Losses
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Maritime:

Clipper City set for auction
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Autos:

Tower Automotive proceeding with sale to Cerberus
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UAW calls its local heads to meeting Friday
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For local chiefs, a balancing act
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Facing make-or-break contract talks, Gettelfinger has become the pragmatist
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Delphi finetunes landmark labor deal
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Chapter 11 does not mark the end
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UAW Chief Says Retiree Benefits May Need To Change
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Delphi's union leaders are summoned
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Facing Down Ford - The automaker needed credit. Its banks needed collateral -- and someone who knew how to say no
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New faces at the table
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Hedge Funds:

Lehman selling $400 mln of Bear hedge fund assets
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Bear Stearns fund woes appear contained
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Bear Stearns to cancel Everquest IPO
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Hedge funds fined for insider dealing
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Merrill Sells Portion of $850 Million Bear Funds
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Fears grow over repricing of risky debt securities
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Hedge fund leaders bet on distressed companies
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Helping Refco recover its balance after an epic meltdown required the steady hand and calm demeanor of a bankruptcy veteran
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Corporate Reform:

Defense Attacks Witness at Black Trial
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Black co-defendant lawyer blasts prosecution for 'baseless accusations'
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Black Prosecutors Trying to Confuse Jury, Lawyer Says
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Supreme Court Sets Rules for 'Reasonable' Prison Sentences
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Using Organized Crime Investigative Techniques to Get Ahead of Corporate Fraud
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The Trouble With Business Ethics
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Utilities:

Calpine shares up on reorganization plan
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Paper:

Port Townsend Paper Corporation Files Amended Plan
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Accounting:

Fair Value Stumps Auditors, PCAOB Told
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Wall Street:

Blackstone debut signals change
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Timber:

Palco wants court OK for big bonuses
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'Bankruptcy 201' workshop scheduled
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Food/Drink:

Hooters of Hyannis shuts its doors, files bankruptcy
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Politics:

Warren: Edwards Steps Up On Middle Class
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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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Online Claims Trading
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Auction your Chapter 11 claim to the highest bidder

www.t-rexauctions.com

Free • Anonymous • Non-Binding

2 Turnaround Firms Plan Merger
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Insurance:

Ritchie Funds File Bankruptcy After $700 Million Loss
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Barclays Capital is big lender to stricken hedge fund
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Bill takes aim at insurers: Would ban tying rates to bad credit
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Publishing:

TMZ Ordered to Hand Over Simpson Book
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TMZ.com Ordered To Hand Over OJ Simpson Leaked 'If I Did It' Book, Must Reveal Source
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Mass Torts:

Federal-Mogul Bankruptcy Confirmation Hearing Extended
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Retailing:

Pier 1 Imports to close divisions, Internet business - Home-furnishings giant quarterly loss widens amid liquidation
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Enron:

Prosecutors cite condo in bid to seize Lay cash
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King & Spalding Earns $140 Million Arbitration Award for Creditors of Enron and Ponderosa
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Enron's Skilling completes six months behind bars
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Health Care:

Tyrone Hospital to hold special meeting
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New turmoil roils PG hospital system
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Open Wide and Say 'Shame'
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United States: Application Of The Absolute Priority Rule To Pre-Chapter 11 Plan Settlements: In Search Of The Meaning Of "Fair And Equitable"
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Bankruptcy Study: Factoring in Employment, Income, Education
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UK:

HSBC to hit graduates with 10 per cent on debts
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Don't report credit card fraud to police, victims told
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Expensive loans see thousands miss payments
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Thailand:

9-judge panel selected on Thaksin case
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Canada:

Debt demons
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