November 13, 2007

Daily Bankruptcy News

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Law:

Famed Plaintiffs Lawyer in Federal Judge's Crosshairs
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Mel Weiss & Milberg Want Their Trial Moved To Gotham
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Hollywood Outsourcing Higher-End Legal Work to India
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Clifford Chance: Laid-Off 6 Akin to Contract Attorneys
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Personnel Reconfiguration Watch: McKee Nelson
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Perk Watch: Associate Client Fees
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Bonus Watch: Law Offices of David C. McGrail Matches (and Then Some)
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Judge Kent allegations
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K&L Gates Abolishes Mandatory Retirement Policy
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Everyone's an Eco-Warrior At Nixon Peabody!
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Become a Party Planner for Partners!
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5,000 Pakistan Lawyers Reported Arrested
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Piercing the 5th Circuit's veil of secrecy
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Justice Ginsburg Remembers Her First Steps in the Law
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Examining Computer Hard Drives During Discovery
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Cleary's London associates miss out on promotions
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'Dismal' Diversity at Big Dallas Firms
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Bar Board Members Butt Heads on Malpractice Insurance Disclosure
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Panel Dismisses Former Computer Associates Accountants' Suit Against Kaye Scholer
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Duty of Confidentiality Is Broader Than Scope of Attorney-Client Privilege
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Teen Sues Cardinals for 'STD' Text Message
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But this one takes the cake
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Student Accused of Shooting Law Book Released
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Ding-Dong! The Peanut-Hating Witch Is Visiting at Another Law School for a Year
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Justice Dept. Chief Faces a Test in Minnesota
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Lawyer's File Cleaning Prompts Call to TV Station
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Media:

echostar Bitten By Subprime Fallout
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M&A:

Blackstone Fizzles
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Blackstone's Black Hole
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Mass Torts:

Vioxx Settlement's Next Big Question: How to Split It Up?
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Vioxx storm to have lasting effects
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Does Vioxx Settlement Raise Ethical Issues?
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Taking fight out of Merck
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Merck swallows bitter, $4.85-billion pill
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Asbestos Body Balks at Dana Settlement
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Asbestos and the federal fisc
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Corporate Reform:

Enron all over again
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SEC adviser not looking to revolutionize financial reporting; seeks smaller victories, such as cutting restatements
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SEC Gives Pass in Several Silicon Valley Backdating Probes
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No Time to Do Time
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SEC Enforcement Actions Shoot Up
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Wall Street's cushy exile
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Entertainment:

Writers Strike Could Devastate Small Businesses
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Chemicals:

Solutia Wins $70M Interest Claim Fight
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Wall Street:

Stirring It Up on Wall Street
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Where the market bears are hunting
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A $45 Billion Writedown Won't Stop Wall Street Profit
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Wall Street's money machine breaks down
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Stage is set for a U.S. stock crash
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Losing streak continues for Wall St.
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Wall street's fear index jumps, revisits 4-yr highs
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European shares slip as credit woes linger
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Asian markets fall amid subprime worries
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Hedge Funds:

In Memory of Long Term Capital
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Banking:

The Lesson From E*Trade
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Wachovia bails out a money market fund
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Lender Cannot Derail Collective Action in Syndicated Transaction Without Express Contractual Authority
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Are Banks In Danger?
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Are New U.S. Accounting Rules Bad News for Banks?
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Stock Brokers:

E*Trade in Free Fall
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It Will Take a Miracle to Rescue E*Trade from Bankruptcy
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E-Trade's Shares Cut Nearly In Half After Warning, Sell Rating
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E*Trade Going Out Of Business?
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Will E*Trade go bankrupt?
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E*Trade Shares Fall; Analyst Says Bankruptcy Possible
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E*Trade says can absorb writedown up to $1 billion
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Investor assets said safe in E-Trade accounts
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Investors Flee E*Trade; Will Depositors Follow?
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E*Trade's Meltdown
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Autos:

Trustee: Dura Ch 11 Plan 'Unconfirmable'
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Majority of locals OK Ford deal
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Economy:

Oil Falls More Than $1 as Slower US Economy May Curb Demand
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Credit crunch highlights financial butterfly effect, study says
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Recession hinges on overcoming debt
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Inflation Very Likely To Prevent A 25bp Cut in December
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Small Business Optimism Sours on Fed Rate Cut
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Utilities:

Calpine in $53M Deal With Creditors
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Calpine reaches settlement with major debtholders
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Food/Drink:

Nutritional Sourcing Seeks Ch 11 Delay
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Viansa files plan for bankruptcy
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Naturade Receives Funding and Emerges From Chapter 11 Bankruptcy
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Mining:

Grupo Mexico seeks Asarco board in bankruptcy hearing
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Mexico's largest copper mine fraught with health, safety dangers
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Finance:

Fitch downgrades $37.2 billion of CDOs
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Personal Finance:

Estimated $8 billion in unused gift cards last year
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Income gap among black, white families up
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Credit Reporting:

Supreme Court Finds FCRA Liability
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7 Tips to Boost A Bad FICO Score
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Trustees:

Chriss Street traveled well on bankrupt trust
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Fraud:

Man-UBS case leads to fraud charges in USA
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Venue:

Bankruptcy Court Cannot Retain Case Filed In Improper Venue Over Timely Objection By Interested Party
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Predatory Lending:

Anti-Predatory Lending Legislation in House
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Culture:

Generational shift about debt
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Insurance:

How the Crunch Is Playing Out
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Allocation of Nondebtor's Payment to Interest Before Principal Violated Bar on Collection of Post-Petition Interest
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Pre-deposition Notice Required to Preserve Deficiency Claim
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New Bankruptcy Opinions
(1 new opinion 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
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Real Estate:

Case studies in a mortgage collapse: broker and client
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Investigating subprime lending
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Texas Prosecutor Urges Lenders to Address Foreclosure Rates
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Home price recession could last ten more years
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Levitt unit falls like house of cards
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Texas Foreclosures Expected To Rise
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Credit turmoil threatens US commercial property market
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Countrywide Warns Credit Downgrade Could Hurt Business
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Homes Left Vacant in Slump Mar Neighborhoods
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Fannie Mae sitting on homes
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Housing slide may last years
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Assets auction a bust
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FHA loans soar in wake of subprime crash
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Should Bankruptcy Judges Be Given the Power to Rewrite Mortgages
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"Termination" of Lease Interpreted Broadly
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Insiders Buy Mortgage Insurer's Beaten-Down Stock
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Central Mall bankruptcy case a "convoluted mess"
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Slow Housing Market Drags Home Depot 3Q
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Deutsche Bank predicts subprime losses at $300-400 billion worldwide
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Mortgage-fraud task force opens command center in Cleveland
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E-Loan to cut 400 jobs
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Letter of Credit Proceeds Applied to Lease Rejection Damages
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One-Third of Americans 'Concerned' That Subprime Mortgage Crisis May Affect Ability to Obtain Car Loans, Other Credit
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Accounting:

Goldman Held Bigger Level 3 Share Than Citi, Merrill
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Court Declines to Hold Auditors Liable for Failure to Include Ongoing Concern Qualification
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Bad Faith:

Chapter 11 Petition Filed Days Before Expiration of Holdover Tenancy Constitutes "Bad Faith"
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UK:

Investment Group Eyes Northern Rock
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There is no Northern Rock rescue for subprime savers
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Some British banks lose shareholders' confidence
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HSBC braced for U.S. hit, to issue group Q3 update
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IVA minimum payment hikes
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House-Price Index Falls to Two-Year Low
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'Sub-prime black hole is getting scarier'
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U.K. Inflation Rate Increases to a Four-Month High
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Russia:

Moscow court orders end to Yukos bankruptcy proceedings
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Canada:

Eatery for rich and glitzy eyes bankruptcy
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Japan:

Japanese firm to hire Nova teachers
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Bank of Japan Holds Interest Rate Steady
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Germany:

German Investor Confidence Drops to 15-Year Low
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WestLB Expects Loss of More Than EU100 Million in '07
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Italy:

Parmalat Share Gain Probable as Litigants May Settle
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