November 30, 2007

Daily Bankruptcy News

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Law:

Weil's Bankruptcy Co-Head Leaves for Dewey & LeBoeuf
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Weil's top-rated bankruptcy chief quits for Dewey & Leboeuf
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Bienenstock Shifts to Dewey & LeBoeuf
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Weil restructuring chief joins Dewey
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A Mixed Blessing for Aspiring Lawyers
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Layoffs the exception not the rule... for now
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Dorsey Firm Sanctioned as Part of Judge's Manifesto on Civility in Legal Profession
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Katrina lawyer at the eye of a storm
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Scruggs, other four could face 75 years each
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How Scruggs Case Came Together
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Updates On Scruggs Indictment
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Letter Says Scruggs Withdrawing From All Katrina Litigation
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Scruggs Denies He's Withdrawn From Katrina Litigation
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Scruggs out of all Katrina litigation
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L'Affaire Scruggs: Stranger Than Fiction
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Firms offer more cash as attrition rises
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A Bankruptcy And Creditors' Rights Group Hits Its Stride
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Judges Tackle 'Foreclosure Mills'
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Say What?!
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Son's Law Firm Job Does Not Require Recusal, Judge Determines
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Inside, Outside: A Partnership Born of Necessity
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More Scrooge-like behavior
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Breaking Up Is Hard to Do
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Broadway Proskauer Rose
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Thacher Profitt recruits Playboy model
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Judge to Appeal Removal Over Phone Flap
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Private Client Work Goes Global
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Federal Tax Fraud, The User's Guide
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Survey Picks Hot Practice Areas
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Law students in Kentucky are suing their university for $120m, but no law school can keep everyone happy
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Half of Law Schools Surveyed Report Drop in Applicants
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Law firms fail to make the grade in diversity
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Court: $42 Million Legal Bill For Five Months Work Not "Unconscionable On Its Face"
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Freshfields associate accused of DVD heist
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"The judge just made up this stuff in his ruling" - "I will even go so far as to say it's idiotic. It's so clearly incorrect it's idiotic."
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Barry Bonds begins to assemble legal Dream Team for defense
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Not Your Average Legal Secretary
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World's first listed law firm makes triple acquisition
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Firm's Christmas card embarrassment
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Top women lawyers still make less than men
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Class-Action Plaintiffs Sue Heavy-Hitting Attorneys Over $40 Million In Legal Fees
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Some Shocking Discoveries About Electronic Data Discovery
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Telecoms:

InPhonic Creditors Object to Sale
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Wall Street:

Cruz, considered CEO successor, leaves Morgan
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Morgan Stanley's Cruz Replaced After Mortgage Losses
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Ax Falls on Execs As Credit Crisis Grows
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Bear Refuses To Sing Happy Street Tunes
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Economy:

White House Lowers '08 Economic Forecast
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US weekly jobless claims jumped 23,000 last week
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Bernanke clears way for Fed rate cut
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Horse Racing:

Bankruptcy court approves NYRA plan
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NYRA nearer to debt deal
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At finish line, NYRA looks like winner, promises left in dust
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Gertmenian Reviews Guild Bankruptcy
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Credit Rating:

Credit Quality in a Freefall
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Stock Brokers:

E-Trade ousts CEO, gets hedge fund cash
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Citadel Didn't Sleep In Pursuit Of E*Trade
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Why Citadel Pounced On Wounded E*Trade
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An Analysis of the E*Trade-Citadel Deal
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Student Debt:

Record number of default loans threatens college's future
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Adversary proceeding required for hardship discharge of student loan in chapter 13
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Resorts:

CA resort's money woes grow
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Real Estate:

New-home sales rise; prices decline
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Could Home Sales Be Better Than Reported?
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More fall behind on house payments
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October foreclosure filings up 94%
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U.S., Banks Near Subprime Deal
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US govt, banks near deal to freeze subprime rates - report
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FDIC exec wants more subprime securitizers to work with homeowners
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Servicers open door to altering loan terms
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Caseloads strain counselors
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'Vultures' Start to Swoop, Warily
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New Century: $35B in Creditor Claims
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Countrywide Home Loans Accused Of Paying Kickbacks To Mortgage Broker
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American Home to Pay $9M in Exec Bonuses
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Subprime Bailout: Good Idea or 'Moral Hazard?'
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Borrower Bailout Near?
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Subprime measures proposed in Assembly
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Lawyer-Judge May Be at Center of Land-Flip Fraud
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CIBC set to reveal subprime exposure
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Even values of best homes slide, figures show
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They'll Take Manhattan -- For Less
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NY City foreclosures up 60 percent
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Texas faring well in home price slump, but Dallas lags major markets in state
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Politics:

Warren: Dodd Strengthens the Safety Net
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Health Care:

Aliquippa Hospital hearing today
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Buchalter To Represent Committee In Brotman Medical Ch. 11
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Nursing home fails to pay bills
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Suit demands: Keep Victory open!
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Pressure is on 2 cited nursing homes
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More NJ hospitals gravely ill
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Oxygen Suppliers Fight to Keep a Medicare Boon
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Retailing:

At Sears, Soft Sales Bring Hard Times
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Sears's Stature Markdown
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Profit plunges 99%
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Sears Holdings Takes a Beating, I'm Waiting for the Turnaround
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Lampert can't reverse Sears' decline
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Municipalities:

Florida Halts Withdrawals From Local Investment Fund
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Raids on MT state investment pool reach $247M
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Cities finding it hard to get money thanks to credit crisis
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Utilities:

Calpine to End Pre-Bankruptcy Payments
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Chemicals:

Solutia emerges from bankruptcy
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Corporate Reform:

Officers Who Conceal Backdating, Beware
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Former turnaround partner sentenced for fraud
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Chancery Addresses Personal Jurisdiction Over Officers of Delaware Corporation
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Food/Drink:

Judge rejects Interstate Bakeries attempt to get information from would-be buyer
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Distributor seeks extension to bid for Jays Foods plant
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Derivatives:

S&P to launch credit default swap indexes in 2008
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Mass Torts:

Honest silicosis claimant 'torpedoed' by own attorney, Jack says
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Credit Cards:

Card Charge-offs Rise 15% in 3rd Quarter
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Enron:

The NatWest Three are, in reality, Arthur Daleys in suits
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Families of NatWest Three claim they were 'coerced' into guilty pleas
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Ensnared in energy giant's culture of greed
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Rough justice in Land of the Free
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Judicial torture and the NatWest 3
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Banks claim victory in NatWest Three case
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Nat West Three guilty plea highlights director risks
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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 Reform:

Conservative, or just plain corrupt?
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Credit Reporting:

Feds Propose New Regulations for Credit Reporting
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Autos:

Solar Stamping bankruptcy changed after it loses GM and financing
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Unique Performance in bankruptcy: No assets and millions owed
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Judge oks sale of Delphi brake plant
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Personal Finance:

Resisting Recession.
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M&A:

LBO funds ax more jobs than similar firms
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Many corporate takeovers in danger of unraveling
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KKR unable to sell debt in $18.5bn acquisition
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Furniture:

Levitz Furniture Sold for $48M
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Banking:

Banking: This Disaster Was Guaranteed
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The Banking Bargain Bin
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Consumer Loan Charge-offs Jump 27% in Q3
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Hedge Funds:

Painful Times
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Fund manager bets right on mortgages
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Hedge, private-equity managers bruised
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Furniture:

Levitz Furniture stores reportedly will close
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Liquidators Buy Levitz Furniture For $48 Million At AuctionDay Test
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Finance:

Credit squeeze stops convertible bond market recovery in its tracks
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Music industry debt plans frustrated by credit loss
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Religion:

Archdiocese hires counsel, replaces controversial firm
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Software:

SCO's prospects stay dicey v. Novell
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Turnarounds:

Have axe, will travel
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The Big League
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Pathology of Debt: Off-balance-sheet debt
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UK:

Royal Bank May Write Down $4 Billion
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Valuing Northern Rock
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Fresh £2.7bn of debt and more retail outflows send Rock shares crashing again
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Consumer confidence 'lowest for four years'
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Personal loan market shrinks
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Mortgage banks set to face tougher market conditions
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Homebuyers locked out as mortgages dry up
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Six degrees of Dickie Dees
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China:

Reflections On China's Enterprise Bankruptcy Law
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EU:

Europe's Inflation Rate Soars, Putting ECB in a Bind
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India:

Lenders may get more say in revival of firms, owners may lose immunity
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Emerging Markets:

Finally moving from a case-by-case to an across-the-board approach to mortgage restructuring
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Japan:

Fukui: Subprime problems affecting Japan banks
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