October 2, 2007

Daily Bankruptcy News

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Law:

Rumor Has NY BigLaw Leader Poised to Raise First-Year Salaries Even Higher
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NY 1st-Year Pay Plan: $250K, But No Jobs
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D.C. Firms Assess Price of Keeping Up With Next Round of Associate Raises
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Top India Law Salary: $7K + Stock Options
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What's Up With WilmerHale?
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D.C. Pay Raises: Separating the Men from the Boys?
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Two Claims Dismissed in Ex-Associate's Bias Suit Against Sullivan & Cromwell
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But Others Say the Salary Wars Are History, It's All About Bonuses, Baby!
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Fewer Women Are Seeking Law Degrees
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Rainmaking Is the Tool for Breaking the Glass Ceiling
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BigLaw Firm Loses NY Leader of 300-Lawyer Corporate Practice
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Kirkland Names 7 New Bankruptcy Partners
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Mayer Brown added to securities-fraud lawsuit by ex-Refco shareholders
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Mayer Brown seeks 3rd-party shield
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Should third-parties be responsible for fraudulent companies?
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Record Number of General Counsel Charged in 2007
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Mandatory Retirement: Pro or Con?
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Supreme Court Argument Report: Opening Day
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A first Monday heavy with rumor and gossip
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'Orphan' Trusts Benefit Lawyers Who Control Them
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Defuse Firm Fear and Disarm EDD Vendors
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Insolvency Lawyers Join Lavery, de Billy
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High Court Leaves Ala. S-- Toy Ban Intact - "They are going to have to pry this v-----or from my cold, dead hand"
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Ex-Latham Partner Resigns From Bar Over Tax Evasion
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Covington Partners Vote In New Chairman
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Freshfields loses second office this year
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Court Hits Business Method Patent Holders
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John Grisham Sued for Libel
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Lending to Lawyers - At 18 Percent-Plus
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Judge Who Jailed 'A----le' Critic Will Step Down
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The good lawyer
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Justice On Yosemite Time
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Wall Street:

Lessons Learned from 1907 and 1987
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Stocks' record finish amid surging mortgage defaults and growing fears of a recession raises questions about what kind of calamity it will take to rattle Wall Street's confidence
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Economy:

Fed Fails to Restore Creditor Confidence, Pimco Says
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PIMCO's Bill Gross On Home Prices, Changes In the Credit Markets, And Their Impact On The Fed's Future Rate Decisions
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Aviation:

Hawaiian/Mesa: Attack of the Terrible Excuse
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Safire evicted from Florida headquarters
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AMR On A Debt-Reduction Spree
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Bankruptcy Crimes:

For third time, Peel's sentencing delayed
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Utilities:

Calpine Holders Want Appeal
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Corporate Reform:

U.S. Prosecutors Say New Limits May Help Future Enrons Go Free
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Forbes's Conviction Upheld
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Fewer top CEOs see SarbOx costs increasing
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Autos:

Delphi loses $100 million in August; more workers leave
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Delphi says has 5.5 bln usd of lawsuits pending if Chapter 11 revamp fails
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Delphi Files Secret Bankruptcy Suits
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The Problem with GM's UAW Deal
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UAW contract to have far-reaching health-care implications
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Negotiators for Chrysler workers signaled reluctance to a pact similar to the tentative GM deal. Ford's and Chrysler's managements have their own issues
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UAW Swaps Next Generation's Wages, Benefits for US Jobs
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Banking:

NetBank's Failure Is Proof That Ratings Matter
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UBS Gets Whacked by Subprime Mess
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UBS slashes jobs after sub-prime losses
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Credit crisis strikes UBS, Citi, Credit Suisse
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LaSalle purchase official; layoffs to begin
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Big banks about to lower the boom
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Real Estate:

Warren: Mortgage brokers' sleight of hand
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American Home must wait for ruling on taking retirement $
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As Lenders Go Bankrupt, Homeowners Take Heed
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Washington Mutual Announces New Standards for Brokers
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'Red flags' seen in NJ Affordable case
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Tarragon regains some lost ground
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The Death of the Pursuit of the Dream
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Manufacturing:

Delta Systems' Arkansas Subsidiary Files for Chapter 11 Bankruptcy
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Avoidance Actions:

Trustee in Ponzi case sues megachurch over donations
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Religion:

Diocese moves toward bankruptcy end with $5 million payment
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Church may sell land to pay claims
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Forest Products:

Judge Reverses $457 Million Bankruptcy Ruling Against Forestry Giant
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Residential development part of Pacific Lumber's bankruptcy plan
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Pacific Lumber, Scotia Pacific and MAXXAM Propose Full-Payment Plan of Reorganization
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PALCO files reorganization plan
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Ponzi:

Bankruptcy judge OK's Allstate Financial settlement
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Bankruptcy Statistics:

Ohio-area bankruptcy filings rise 13% in September
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Hedge Funds:

Perella to Buy the Hedge Fund Xerion, an Investor in Troubled Companies
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Cross-Border:

Pursuing U.S. Claims Against Foreign Debtors
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Turnarounds:

Leading a Turnaround Rudy Giuliani's Leadership
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Claims Trading:

Bankruptcy Claims Trading: Part II
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Accounting:

AIG Shareholders Now Suing PwC
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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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Bankruptcy Reform:

Bankruptcy 'tweak' could save 600,000 homes
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Telecoms:

Reed Smith Advises Oasys Mobile on Bankruptcy Reorganization
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Oasys Mobile Wins OK for Bankruptcy Plan
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Food/Drink:

Interstate Bakeries fails to reach deal with Teamsters
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Means Testing:

IRS Issues Redesigned Allowable Living Expense Standards
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Mass Torts:

Federal-Mogul Settlement Unravels
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Theme Parks:

As park closed, pair paid selves
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Health Care:

Pascack Valley Hospital Decides to Close Its Doors
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Fitch Downgrades Pascack Valley Hospital (New Jersey) to 'CC'
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Hospital's assets bought by Integris
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Labor:

The Decline of Unions
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Posner's Comment
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Intellectual Property:

New Mexico Court Adopts "Actual Test," Defines New "Footstar Test"
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Layoffs:

Buyouts either blessing or bane
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Finance:

Second Liens Will Complicate the Restructuring Game
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Honeymoon May Be Ending for Second-lien Loans
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'Silent Seconds' May Speak Up in Bankruptcy Court
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Complex Capital Structures Blur Distinctions Between Lenders Fierce Negotiations Often Characterize Intercreditor Agreements
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Student Debt:

Soaring tuitions paving way for another loan crisis
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Confessions of a credit card pusher
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Pro Bono:

Bankruptcy Pro Bono Representation of Consumers The Seven Deadly Sins
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UK:

Share prices of debt management firms plunge
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DebtMatters bombshell hits IVA industry
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Companies Act ushers in derivatives actions
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Corporate bankruptcy costs and recoveries in the UK
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Australia:

Millionaire's factory in the spotlight as concern mounts
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