May 18, 2007

Daily Bankruptcy News

Brought to you by BKINFORMATION.COM - The Source for Bankruptcy News on the Internet 

Also available on the Web (with links to the news stories) http://bkinformation.com/News/DailyNews.htm
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Aviation:

NWA unions ask court to toss plan
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Examiner finds Northwest valuation was reasonable
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Fund sells stake in NWA
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Extended offer brings more heat on Midwest Airlines
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Northwest, Midwest agree cross-selling deal
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Payback slower in coming for workers who bore load
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British Airways admits to price fixing
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Law:

BigLaw's Summer Camp Jamboree
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Unhappy, Texas
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"Dechert Cracks the Code:" But What Was Encoded?
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The Judge With the $65 Million Pants Is No Stranger to Goofy Filings
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What's Happened to the Lawyers Who Worked for Spitzer?
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The Rise and Fall of Jenkens & Gilchrist
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Making Client Teams Work
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Bush Bars Gov't From Using Contingency-Fee Lawyers
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Law Firm Prepares For Stock Market Listing
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The Data Boom: Can Law Firms Profit?
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Corporate lawyers face extinction
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Jury pools & gene pools
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Judge Gary Farmer's Funny Cide
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Bryan Cave to Open Office in Italy
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Uncle Sam Wants You (and Will Pay Off Your Loans)!
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Contract Lawyers Go Home
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Say What?!
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Another fire strikes bankruptcy law firm's offices
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Fifth GOP Senator Urges Attorney General's Resignation as Dems Seek No-Confidence Vote
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One Summer Associate You Definitely Want To Take To Lunch
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Linklaters continues management overhaul
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Lawyers are the happiest chappies in the UK
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Associate doubles his salary and goes out singing
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Firm to pay microscopic bonus
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Can Professional Women Really "Opt-In" to the Work Force After Leaving It?
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Corporate Reform:

Jury riveted in final exchange between Radler and defense lawyer
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Radler digs a hole
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Barney Frank Eyes Private-Equity Pay Cut
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Witness: Ex-VP admitted deceit
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Judge in Black trial to rule on admissibility
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Economy requires shared sacrifice
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Fraud too pervasive to roll back SarbOx
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Ex-Ahold exec gets seven years for role in fraud
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Religion:

Parishes in Spokane Diocese asked to raise $10 million
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Asset Protection:

Tennessee Enacts Self-Settled Asset Protection Trusts
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Media:

Bankruptcy judge sets prices for cable
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Enron:

Harold Meyerson on Enron
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Entertainment:

Michael Jackson to Appear in Las Vegas Court Friday
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Municipalities:

Moody's Double Talk May Cost Taxpayers $3.6 Billion
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The Poverty Business
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Autos:

New Chrysler; Old Union
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Daimler on Hook if Chrysler Pensions Close
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Cerberus' Path to Profit
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One-third of N. American auto suppliers distressed
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Auto suppliers face cash crisis
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GM, Delphi, UAW deal "not imminent": GM CEO
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Collins & Aikman sues former CEO, others
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Detroit meltdown seeps into nearby suburbs
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Wagoner sees no 'rush to privatize'
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Real Estate:

Bernanke: Mortgage Crackdown Coming
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Bernanke: Rise in Foreclosures Will Not Hurt Economy
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Option One will cut 600 jobs nationwide
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Florida Leads Country In Mortgage Fraud
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30-year mortgage rates jump to new high
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Senator says Fed failed in subprime oversight
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States work to avert a mortgage crisis
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Judge orders home contractor to pay back customers
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1031 Group collapse puts spotlight on tax loophole
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Pinnacle Financial Reaches Out to Subprime Lenders
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Experts split on fallout from subprime defaults
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Economy:

Leading Indicators Hit by Housing; Job Loss Slows
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Economy May Slow This Summer
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Fedspeak's new nuances
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Fed fearful of leveraged buyouts
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Credit market 'bubble' may be at bursting point
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The Fed and other regulators are taking a closer look at the risks banks may be taking on in financing leveraged buyouts, particularly with bridge loans
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Health Care:

SeraCare Announces Completion of Bankruptcy Reorganization
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SeraCare plan would pay off all creditors
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Entertain met:

Suge Knight Tightens Belt
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Manufacturing:

Foss Creditors try to block dismissal
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Former exec guilty of fraud in failure of clothing company
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Bankruptcy Crimes:

Judge sentences Midland woman for forging signature on bankruptcy papers
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Predatory Lending:

Fewer clients, but deeper debt
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Bill to control payday loans advances in Nevada Senate
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Mass Torts:

Resolution of Mass Tort Claims in the Bankruptcy System
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Tort Travesty
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Congoleum Bankruptcy Court Refuses to Approve Insurer Settlement
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Bankruptcy Court Rejects Congoleum Bankruptcy Plans: Appeal to the United States District Court for the District of New Jersey Filed
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Insurers Granted Relief From Automatic Stay to Pursue a Coverage Action Against Federal-Mogul Global
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Utilities:

Calpine's cleaner slate
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Tax:

Phase II Preparations Under Way for IRS Collection Program
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Collectors in IRS Program Receive High Scores
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IRS Private Collection Program Exceeds Targets, Will Soon Recoup Costs
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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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Sports:

Debts, fees could force Rison into bankruptcy court
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Banking:

Fire Sale Singes Doral
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Banks Put Willie Sutton To Shame
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Russia Sues Bank of New York for $22.5 Billion
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Russian lawyers speak out on $22.5bn Bank of New York case
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At the heart of BMO's crisis, a 'smart and cautious' trader
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Heads roll at BMO as loss deepens
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Wolfowitz resigned as World Bank president
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Retailing:

Discovery closing stores, slashing 1000 jobs
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Accounting:

US Treasury to investigate audit market
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Restatements Draw Treasury's Ire
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Publishing:

Trustee to control rights to OJ book
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Agriculture:

Processor forces Rock Hill dairy into bankruptcy
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Corporate Governance:

Fiduciary Duties of Cooperative Directors
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Enron:

Consumer Advocates Demand Details Withheld of Lobbying by Enron Banks of SEC Chair Cox
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Bankruptcy Reform:

Clinton on the Bankruptcy Bill
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Credit Cards:

Credit-card companies may face new federal limitations
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Federal appeals court rules in favor of newspaper in privacy suit by trustee
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Prospective Creditors' Committee Members Should Carefully Assess the Pros and Cons of Serving
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UK:

Misconceptions push debtors further into the red
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The House of Lords rules on the liability of invalidly appointed administrative receivers for "interference with contractual relations" and conversion
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Uvine Files Bankruptcy
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Loan standards for buy-to-lets slide
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One in Ten Brits Miss Credit Card Payments
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Playing the numbers game
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Leeds United - Bates offer is 'derisory'
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Family to lose their home after husband runs off with nanny, 19
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Russia:

Court postpones hearing of Yukos manager case until May 31
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Rosneft Still After Assets Lost in Sale
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Australia:

Chasing bad debts a 'waste of time'
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Canada:

St. Mary's creditors include more than 100 Sault businesses
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Who owned Portus? Not me, says Boaz Manor
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Cuba:

Cuba's frozen assets depleted by lawsuits
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