November 7, 2007

Daily Bankruptcy News

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Law:

Employee E-Mail and the Attorney-Client Privilege
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Why Are Minority Female Associates Leaving Law Firms?
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Bonus Watch: Fried Frank
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Perk Watch: Defbrillators?
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Bonus Watch: Skadden Matches (And Not Just In New York)
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Issuing a "Litigation Hold" May not be Enough when Rogue Employee Destroys ESI
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Indian firm targets law firms with new legal outsourcing business
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The When-Will-Justice-Thomas-Ask-a-Question Watch
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How Can Women Find Balance in the Legal Business?
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Eversheds reports 10 per cent growth
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Ousted Chief Justice Urges Defiance
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Lawyers Continue To Lead Protests
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Texas High Roller Accused Of Impersonating Lawyer
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Discovery Rules Raise More Questions Than Answers
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Bankruptcy Judge Properly Fired Debtor's PI Counsel
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Mukasey Nomination Heads to Full Senate
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Justice Stevens Has a Bone to Pick With N.Y. Times
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Taping Buzbee cost $50,000
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Lawyer Indicted on Rare Common-Law Embracery Charge
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Supreme Court Takes Up Arbitration Case
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Law Firm Plans Real-Life Practice at Virtual "Second Life" Office
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Eager Job Hoppers May Face Suit for Taking Clients, Co-Workers
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Bankruptcy Reform:

Lawmakers Weigh Mortgage Bankruptcy Bill
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Mortgage Bill Could Spawn Bankruptcies
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Did Bankruptcy Reform Make The Mortgage Crisis Worse ?
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Tech:

Pay By Touch Melodrama Includes Board Fight and Possible Bankruptcy
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Real Estate:

Warren: How Much Do You Really Owe?
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Threat of forced sales grows for CDOs
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House committee passes mortgage reform bill
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Bankruptcy Trustees Taking Action Against Dishonest Lenders.
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Misbehavior and Mistake in Bankruptcy Mortgage Claims
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Fed official warns on subprime strategy
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A $50 Fee There, a $75 Fee There, and Soon It Adds Up to Real Money
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Bankruptcy law changes and mortgage servicing fraud may heighten impact of mortgage crisis
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NJ Developers Battle In Bankruptcy Over $100M Project
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American Business Creditors Eye Recovery
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ResMae halts new loans
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Investor calls for Beazer's head
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Completion leaves questions about who is behind $43M Queen Mary buyout
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IndyMac Mortgage Loss Dwarfs Its Own Forecast
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Tales of woe play out at record foreclosure auctions
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NJ Affordable drama ends in auction
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Neumann lists debt of $235.6 million
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Owens Corning to cut jobs amid housing slump
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Housing's Loss Is Nobody's Gain
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What The Mortgage Industry Does Not Want You To Know About Securitization
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Would-be homeowners in limbo due to Levitt's financial struggles
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Gov't Settles With Past Freddie Mac CEO
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Sale possible for Tougher
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Jewelry:

M. Fabrikant Creditors Could Get Back As Little As 7.5%
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Debt Collection:

Debt collector to pay $1.3 million for harassment
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Banking:

Citigroup Writedowns May Be as Much as $13.7 Billion
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Citigroup told analysts clean up will take at least until middle of 2008
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Citigroup SIVs Draw $7.6 Billion of Emergency Funds
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Citigroup faces legal action over pension losses
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Bottomless Banking
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Ex CFO says Citi needs better bosses, not breakup
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Waning Support Led to Ouster of Citigroup Chief
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Citi's New Subprime Manager: The Internal Memo
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Capital One Warns on Loan Chargeoffs
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Autos:

General Motors Reports $39 Billion Loss on Deferred Tax Charge
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$39-billion earnings charge by GM stuns Wall Street
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Delphi exec bonuses: $216M
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Ford Warns of New Steps if Sales Decline
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Mixed reactions to Ford's union deal
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Autoworkers Gave up Much Without a Fight
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US auto workers denounce UAW betrayal at Ford
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Dura Automotive seeks $425M exit-loan deal
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Auto parts maker Delphi trims Q3 loss to US$1.2B as reorg costs decline
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J.P. Morgan, Citigroup revive $10 billion Chrysler loan
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Wall Street:

Bonuses Likely to Shrink for Many on Wall Street
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Goldman's Employee Pay Will Top Bear's Market Value
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Morgan Stanley Writedown May Loom
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US companies losing street cred
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Preying on investors' subprime fears
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Wall Street Rallies, but Worries Remain
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Morgan Stanley may write down $6 billion
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As Oil Nears $100, Look Out Below
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Economy:

Within the Fed, Resistance to Further Rate Cuts
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Grim warnings send waves through markets
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Talking Down the Economy
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Oil supply crunch in period to 2015 'cannot be ruled out' - IEA
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Aviation:

Airlines are accelerating efforts to raise ticket prices to help offset higher fuel costs and other rising industry expenses. The price of refined jet fuel has risen more than 40% since January.
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Creditors wanting AEXJet to liquidate
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NWA reinvests $224M profit
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Brazilian airline BRA asks for temporary suspension amid financial problems
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Religion:

3rd Circuit Rejects RICO Claim Against Archdiocese
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Entertainment:

Time Warner's Net Falls 53%
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Municipalities:

Roanoke votes for town to absorb Marshall Creek
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Education:

Antioch faces bankruptcy crisis head on
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Bankruptcy Crimes:

The Death Penalty for Bankruptcy Fraud
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Credit Cards:

Credit Card Debt Up 8% from Last Year
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A Cavalier Attitude Towards Bankruptcy . . . By A Former Debtor (And Senator)
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Customer Service
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Predatory Lending:

Payday, other subprime lending up
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Bankruptcy attorney ready to combat predatory creditors
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New Bankruptcy Opinions
(2 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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Houlihan Lokey exec sees defaults rising
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Next Fear: Corporate Debt
(WSJ: separate paid subscription required)

Mass Torts:

CSX Lawyers Says They Cannot Find Key Dr. Witness in Asbestos Case
(NYT: separate free registration required)

Asbestos Personal Injury Claimants File a Competing Plan of Reorganization in Grace Chapter 11 Proceeding
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Software:

SCO's bankruptcy hearing wonders where the wonga's gone
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Food/Drink:

Teamsters Skeptical of Last-Ditch Plan by Interstate
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IBC argues for its rights in bankruptcy court battle for control
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Health Care:

Cash-strapped QMed cuts two-thirds of jobs
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Kessler funds at $1.2M
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Art:

Art dealer blasts 'vendetta'
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A Gallery's Money Crisis, and Shaken Trust
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Theme Parks:

5 of park's rides still awaiting buyers
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Finance:

Bond Buyers Are Losing Confidence
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Are Munis Like Milk, or Garbage?
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Hedge Funds:

Hedge-Fund Tax Rise Faces `Uphill Climb' in Senate
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Insurance:

Major Agencies To Cut Bond, Mtge Insurers' Ratings
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MBIA, Ambac Losses Will Be 'Massive'
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Intellectual Property:

Assumption Of Trademark Licenses In Bankruptcy: An Update On The N.C.P. Marketing Case
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Politics:

Obama to unveil middle-class plan this a.m. in Iowa: tax cuts, bankruptcy reform
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Utilities:

Calpine sees bankruptcy end in December
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UK:

BoE's King says more bank losses yet to come
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Credit "contagion" spreads
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More to go bust as debts hit home
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Sharp decline in confidence knocks sales of new houses
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N. Rock looks at sale and restructuring
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Falling house prices 'to hit half the country'
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Is Barclays bank in danger?
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Korea:

Corruption Scandal Spreads at Samsung
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Japan:

Japan non-financial firms feeling U.S. subprime pinch
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Canada:

CIBC and the credit squeeze
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Forests Minister defends Pope & Talbot application
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