November 29, 2007

Daily Bankruptcy News

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Law:

Lawyer in Katrina Case Faces Bribery Charge
(NYT: separate free registration required)

Dickie Scruggs Indicted On Federal Bribery Charges
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Lawyer of the Day: Dickie Scruggs
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John Grisham Couldn't Dream Up The Dickie Scruggs Indictment Story
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NY Firm Can Sue for Contingency Fee After Billing $18 Million, Getting $5 Million in "Gifts"
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Arent Fox: Don't Call Us a 'Lifestyle' Firm
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The Lunch from Hell
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Pay Raise Watch: Thacher Proffitt???
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Survey: Women in Large Firms Advance at Same Rate, but Earn Less Than Men
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Female Partners Strike Out on Own, Cite BigLaw Rate Hikes as Reason
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Companies Dissatisfied With Their Law Firms, Survey Shows
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Tests Reveal Lawyer's Fellow Air Travelers Free of TB
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Clifford Chance gears up to fight $2bn claim over bankrupt ex-client
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BigLaw Firm Founder Focus of Documentary
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Wonderful You
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Ashcroft Expects To Earn Huge Dollars As Corporate Monitor
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Philip Morris Suit May Signal Trend of Age Discrimination Claims by In-House Lawyers
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Axing Mandatory Retirement Brings 'Economic Opportunity Cost'
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Say What?!
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Conflicts Checking for Contract Lawyers
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The Paralegal Opportunity for Law Firms
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How Not To Respond to an Ad for Temporary Paralegal Assistance
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Autos:

Dana's $2B financing requires bankruptcy exit by end of February
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Bankruptcy Judge: Dura Must Line Up Loan
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Delphi bankruptcy risks getting worse
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Delphi delays hearing third time
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Dura has votes for plan
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Bankruptcy Crimes:

Grand jury hands down new Fabian charges
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Heading To Prison, Yagman Goes Down Fighting
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Stephen Yagman Can Only Blame Himself
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Mass Torts:

Tersigni Files Ch 11 Liquidation Plan
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A nasty fight over breast implant cases
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Health Care:

Blumenthal: Temporary agreement reached with nursing home chain
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Haven Healthcare fails to pay bills
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Haven To Get Independent Watchdog
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Financial Watchdog To Help Haven Healthcare
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AMH says yearly profit reaches $1.1 million
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Bankrupt Barnert celebrates birthday
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Bid to buy Aliquippa Community Hospital goes to court tomorrow
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As Medical Costs Soar, The Insured Face Huge Tab
(WSJ: separate paid subscription required)

For-profit hospital officials sued by bankruptcy administrator
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Corporate Governance:

SEC Bars Investors' Directors
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SEC: shareholders don't always need a say
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Wall Street:

Bear Stearns Cuts 4 Percent of Staff
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Bear Stearns to Cut 650 Jobs Amid Mortgage Losses
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Fed Official's Remarks Send Stocks Soaring
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Celebrity:

How Tyson Squandered $400 Mln?
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O.J. Pleads Not Guilty to Robbery, Kidnapping in Vegas
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Finance:

Will Ambac and MBIA Survive?
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Bond insurers sold short
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Ackman's Winning Bets Against MBIA, Ambac To Go To Charity
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No credit squeeze in equipment leasing and financing, but activity slows a bit
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The boundaries between receivables securitizations and loans are blurring
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Accounting:

KPMG global revenues surge by 17.4%
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Retailing:

Sears Profit Declines More Than Analysts Estimated
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Real Estate:

US Trustee Subpoenas Countrywide
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US investigates Countrywide fees
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Will BofA Laugh Last?
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Schumer Criticizes Federal Home Loan Bank For Doing Its Job
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Subprime Lending Causes Net Decrease In Home Ownership
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More bad news for homebuilders is anticipated from the government's latest monthly report on new home sales
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US homes sales suffer record fall
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Home foreclosures soar 94 percent
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Mortgage Firm Owner Pleads Guilty
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Housing weakness pushes builders on credit terms
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Bankruptcy Judge Allows Lenders to Take Back Properties
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Levitt's tumble turns enclave to 'ghost town'
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Standard Pacific Says No to Chapter 11
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MGIC to increase scrutiny of borrowers
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Freddie Mac shares post biggest gain in 19 years
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Don't Bail Out Fannie and Freddie
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Lax underwriting and fraud contributing to subprime lending crisis: Fitch
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Housing crisis may put LA County in red
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Newsletters made handsome profits from trading Novastar
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Vendors, buyers fault builder
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Beware of Liquidity Traps in Builders
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Alert Solo Catches Clerk's Error, Derails 200 Christmastime Evictions
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Enron:

Bankers Plead Guilty in Enron Case
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Making of a cause celebre
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Enron suit: A new tempest for Citi?
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Food/Drink:

LA's Burkle has hurdles to clear in buying Interstate Bakeries
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Interstate Bakeries wants details of bidders' relationship
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Michigan distributor plans to bid for Jays firm
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Aviation:

Labor, credit woes weigh on airlines
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Judge OKs Cessna's purchase of Columbia
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Southwest Airlines gains advantage by hedging on long-term oil
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United Airlines unions slam idea of dividend or buyback
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American Airlines Parent Plans to Shed Regional Carrier
(NYT: separate free registration required)

After tangling over pay, Northwest to pay pilots' legal bill
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Corporate Reform:

Former media mogul Black's Canadian holding company sentenced
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Black's Ravelston Must Pay $13 Million for Fraud Role
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Ravelston fine called academic
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Black's legal team asks for shorter term
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Ex-Riverstone execs face criminal charges
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Transport:

'Performance' Seeks Ch 11 Asset Sale
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Horse Racing:

Bankruptcy court approves NYRA plan
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Bankruptcy resolution for NYRA contingent on firm retaining racing franchise
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Bankruptcy Statistics:

US business bankruptcies up 35 pct in Q3
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Bankruptcy Not Only Striking The Poor
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Software:

Final SCO decision set for Utah
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Accounting:

With billions vanished, FASB could move on subprime assets
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Student Debt:

AMA supports legislation to restore medical student loan deferment
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Mining:

Treatment system, soil cleanup will top $60M for Asarco
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Arbitration:

Is Arbitration Binding After Bankruptcy Filing? Courts Apply Same Standards, Reach Different Results
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Discharge:

Worser and Worser for Consumer Debtors
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Politics:

Clinton has changed sides on important consumer matter
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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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NEW
Claim Trading Alerts
The easy way to monitor
bankruptcy claims trading
30-Day Free Trial

Bankruptcy law professor called on by chief justice
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Bankruptcy Reform:

Sen. Dodd Drafting Bankruptcy Legislation
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Update - Effects of BAPCPA
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Economy:

As Lenders Tighten Flow of Credit, Growth at Risk
(NYT: separate free registration required)

Slowdown Has Arrived, Fed Beige Book Says
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Economy in Summer Grew at Best Pace in 4 Years
(NYT: separate free registration required)

J.P. Morgan analysts expect credit turmoil to last through most of 2008, with recession possible
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Fed vice chairman Kohn sees risk of reduced credit from market upheaval
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Durable goods orders in U.S. fell more than forecast for October
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Furniture:

Liquidation specialists involved in Levitz stalking horse bid
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Turnarounds:

Building Value into Underperforming Companies
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Getting the Most Out of Management Establishing Collaborative Relationship with Portfolio Company Execs
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Rights Offerings Attracting Investors, Providing Cash for Turnarounds
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The Time is Now Economic Downturn Brings Opportunities
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Generating Deals in a Changing Equity Investment Landscape
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Turnaround Due Diligence 101: 12 Questions that MUST Be Asked
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Education:

University on the Brink of Bankruptcy
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Municipalities:

As towns go broke, subprime crisis hits Arctic Circle
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Florida School Fund Rocked by $8 Billion Pullout, Bankruptcy Possibility
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Stock Brokers:

E*Trade to Get $2.55 Billion Cash Boost From Citadel
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Credit Cards:

New bill would rate credit cards on a star system
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Banking:

Banking Giant Wachovia Settles With Regulator
(NYT: separate free registration required)

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Personal Finance:

Examining downside of consumer dream
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UK:

Rock move sparks growing share war
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Olivant told fully-financed plan needed for Rock offer
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Sky Blues face bankruptcy
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Australia:

Credit sending Aussies broke
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Wheatley scraps appeal against jail term
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Canada:

Federal Gypsum back in court tomorrow
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Caisse to Write Down C$500 Million in Subprime Debt
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Japan:

Lawyer recounts cult victims in memoir
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Germany:

German Unemployment Falls; Companies Work Off Backlog
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IKB's Remaining Risks of $520 Million Will Be Covered
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Switzerland:

Are UBS Bankers In a Sea of Red?
(WSJ: separate paid subscription required)

Swiss 2007 corporate bankruptcies seen lower
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China:

Millions fear losing life savings in Chinese 'aphrodisiac ant farm'
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