May 3, 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
Prior editions: http://bkinformation.com/bankruptcy_news.htm
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Aviation:

Northwest Airlines reaches agreement with bond holders
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'Vendors Competing Against Vendors'
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Delta revises outlook
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Delta Bankruptcy Deal Satisfies Most Creditors
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Delta stock to begin trading Thursday
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Delta's stock value bumpy as shares debut
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US Airways investor cashes out
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Law:

Is Your Law Firm Recession Resistant?
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Guidelines for Outsourcing Grow
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The Billable Hour: Still the Lead Dog, but Gaining Competition
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Billionaire's Claims of Malicious Prosecution May Turn on Whether Settlement Is a Win
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The Justice Department is investigating whether a former Gonzales aide considered the political affiliation of applicants to jobs as career prosecutors, which would have violated federal law
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Giuliani's tie to Texas law firm draws big donations
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How NOT to Handle a Mistake
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How Not To Deal With a DUI
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What Not To Do in a Job Interview
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Residency clause adds fuel to dispute over U.S. attorneys
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More Law Firms Charge Fixed Fees For Routine Jobs
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In debt, young lawyers struggle to make it
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Can a Legal Strategy Be Patented?
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Has Skadden Joined the $50K Club?
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Many female lawyers dropping off path to partnership
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Are Women Lawyers Reaching a Crisis Point?
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Profits For You; Fees for Me
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Law Firm Survival is Tied to its Blended Rate
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Say What?!
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Boston's Legal Firm At The Center Of Wall Street Journal Takeover
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A New Judicial Crisis: Judges Falling Asleep
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Lawyer Behaving Badly, Judges Behaving Without Common Sense
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Are Law Firms Gaming Their Equity Partner Numbers?
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UK firm Slaughters plays catch-up with new associate salaries
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Associate salary hikes see UK elite snapping at heels of US competitors
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Law firms lack diversity
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Smaller Firms Are Finding Ways to Get Started in China
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Corporate Reform:

Glimmer of optimism in Black camp
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Black's Lawyer Hits 'big Skim'
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Thompson concedes audit was lackluster
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Siegelman, Scrushy closer to sentencing
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Accounting:

Finance Workers' Confidence Dips
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Senior Debt:

Are you a 'busted boomer'? Get in line
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Autos:

Tower Automotive bankruptcy plan would pay some creditors little
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Opposition Grows to Allied Ch. 11 Plan
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UAW leaders are preparing a "final, comprehensive proposal" to Delphi and its private-equity partners in an attempt to close the gap over wages and benefits
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Note to US Auto Manufacturers - Adapt or Die
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GM CFO Expects Progress On Delphi Talks In May, June
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GM posted a 90% drop in quarterly net
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Student Debt:

UT financial aid offices tracked, ranked "treats" from lenders
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Democrats press student-loan cleanup drive
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FTC Urged To Investigate Student Loan Marketing Practices
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Real Estate:

New Century Alters Bankruptcy Bonuses
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CCI files for Chapter 11 bankruptcy
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Moody's downgraded in the past two weeks more than 30 bonds issued in 2006 and backed by subprime mortgages
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Subprime mortgage firm ceases most operations
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Coast loss widens in fallout from builder bankruptcy
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No Spring Thaw for Housing
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A "Perfect Storm" In Texas
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More face losing homes
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Several players in home mortgage market agree on principles for borrowers in trouble
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GMAC swung to a $305 million loss due to poor home-mortgage results
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Predatory Lending:

AZ House GOP member wants to wipe our Pay Day lenders
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Hotels:

Hotel Zoso files for bankruptcy
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Telecoms:

Allegations fly, checks bounce as center shuts
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Bankruptcy Reform:

Talk of Bankruptcy Law Changes Surfaces in Congressional Hearing
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Banking:

Pending case key to Coast investors' suit
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Big Banks' Loan Push: Illegal Immigrants
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Food/Drink:

Pittsburgh Brewing 1 step closer to producing beer
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Derivatives:

Banking giants ink loan derivatives pact
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Health Care:

Vendors put Dimensions on credit hold
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Photography:

CPI agrees to buy Portrait Corporation of America
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Small Businesses See More Cash-Flow Issues in April
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New Bankruptcy Opinions
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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)
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Hedge Funds:

Fed Warns of Hedge Fund Threat
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Mass Torts:

Ga. gov. OKs asbestos lawsuit limit law
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Utilities:

Entergy will exit bankruptcy next week
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Retailing:

Rockaway looking to shed stores
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Economy:

Fed officials are likely to leave rates unchanged at 5.25% next week
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Accounting:

Ernst & Young Audits Faulted in Report
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Grant Thornton swoop heralds merger boom
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Credit Cards:

Ellison's first bill would end controversial credit card practice
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Credit Card Charge-offs Down 32% Last Year
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'Perfect storm' of debt puts Floridians in bankruptcy
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USC's next law school dean, a bankruptcy professor
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Bally Total Fitness isn't so healthy
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Jury Trials in Bankruptcy
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Final Order of Bankruptcy Judge In Non-Core Matter Treated As A Report And Recommendation After Affirmance By District Court
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UK:

Pensions setback for leveraged buy-outs
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Kirkland knocks Sidley with $1.3bn restructuring mandate
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IVAs 'inappropriate for many people'
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Sub-prime arrears rising
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Pawn shops poised as Britons run up debt
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Bankruptcy rise warning
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'Record 30,000 go bankrupt'
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Accountants edge out lawyers in Companies Act client race
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Canada:

Politicians spar over GenFast bankruptcy
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Russia:

Production unit of bankrupt Yukos oil company to go on auction block
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Rosneft poised for more Yukos assets
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Rosneft faces Yunitex challenge in YUKOS auction
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Japan:

Japan on brink of consumer loans crisis
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