October 25, 2007

Daily Bankruptcy News

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Law:

Boutique's Merger With Larger Firm Wasn't What Lawyers Bargained For
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A&O, Mayer Brown and Cleary scoop credit crunch superfund
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The Delegation Dance
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Holdout Firm Boosts Associates' Starting Pay
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First-Year Associate Hiring Down Slightly at Big-Tex Firms
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Going to Heller in a Handbasket? (continued)
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Perk Watch: Librarians (Especially Cool Ones)
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Personnel Reconfiguration Watch: McKee Nelson
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How to Keep 'Smoking Gun' E-Mails From Backfiring
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Morgan Stanley May Face Wave of Suits After Admitting It Withheld E-Mail Evidence
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UK review to address if US firms in London must disclose results
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Firm Gets Stadium Naming Rights
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BigLaw and the Big Blaze
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When Giving Clients Bad News, Ask: What Would Churchill Do?
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Judge Rebuked for Demeaning Comments
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Former Partner Sues Law Firm for Harassment, Retaliation
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Simpson Faces New Charges in Vegas Debacle
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Lawyer Pleads Guilty in Co-Worker Voyeurism Case
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The Jury Duty Summons That Wasn't
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Lawyer Harassed Judge for Years
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Appeals Clerk Explains Why Details of Alleged FBI Coercion Withdrawn from Opinion
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Seven Tips for Crafting More Effective RFPs
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Say What?!
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Suing Millionaires for Fun and Profit: Practice Makes Perfect?
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Economy:

Top Investor Quits Dollar After Declaring Recession
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Americans Turn Negative on Economy, Expect Recession, Poll Says
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Global markets drop sharply amid U.S. fears
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Credit Market Turmoil to Continue, Say Financial Professionals
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Why we need a recession -- soon
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Wall Street:

Revisionist history and the 1987 crash
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Merrill Lynch Reports Loss on $8.4 Billion Writedown
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Merrill In Peril?
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Did Merrill's CDO Contagion Spread to Cohen & Company?
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Grim Housing Report Lifts Wall Street's Hopes for a Rate Cut
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Software:

NY investment management company offers to buy SCO for $36M
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Horse Racing:

NYRA files reorganization plan
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NYRA bankruptcy filing says it doesn't own tracks
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No Assembly help for Vernon Downs
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Hedge Funds:

Wealthy 'moving to hedge funds'
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Rebels may block Absolute shake-up
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Student Debt:

Students facing rising debt from college loans - Educators begin to push for better counseling about borrowing
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Graduating into debt
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Parsing Candidates' Student-Loan Proposals
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Finding Fault in Student Default Data
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Sallie Mae OKs Waivers By Investor Group
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Finance:

Hungry for Cash
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Autos:

Key UAW Locals Approve Chrysler Deal
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The UAW appears to be on the verge of ratifying a tentative labor contract with Chrysler after workers at four plants near Detroit voted in favor of the deal
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Chrysler vote defies UAW leadership
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Auto deal drama is familiar
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New deal, new layoffs for GM
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Real Estate:

Home Sales Move Ever Lower
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When risk becomes a shell game
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Has the Mortgage Crisis Finally Peaked?
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Reports Suggest Broader Losses From Mortgages
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More bad loans at Countrywide
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Nationwide Foreclosure Filings Up 99 Percent
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Existing Home Sales Tumble 8 Percent
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Home Sales Slump at 8-Year Low
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MBIA Reports First Loss on Slump in Mortgage Debt
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Pending Reform Bills
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Federal judge takes over OPFM suit
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Countrywide wins over critics
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A Letter From An Evicted Family
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US lawmakers postpone subprime relief vote
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Neumann Homes Plans to Sell Most of Its Land Assets
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Standard Pacific Sinking in Debt
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Lawmakers to mull subprime bankruptcy relief
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Legislators to hear that bank regulators paved way for subprime abuses
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Chicago Bank Takes Action Against Subprime Housing Crunch
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Pulte posts big loss after charges
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A report on U.S. commercial-construction activity set to be released on Thursday will forecast a decline in spending next year
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Housing woes push down National City earnings 80 percent
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Judge appoints trustee for 1031 Tax Group
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First Magnus went first-class, leasing a 'very loaded' Jaguar
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Banking:

Bank of America Cuts 3,000 Jobs, Shakes Up Management
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National City Bank cuts another 12,000 jobs
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Will the SIV bailout arrive in time?
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One out of five U.S. consumers switch banks because of fees they consider excessive
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Fraud:

Exec allegedly kept NY firm alive with unsustainable bond returns
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Predatory Lending:

Payday lenders charge as much as 500 percent
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Accounting:

Citigroup SIV Accounting Looks Tough to Defend
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More Trouble For E&Y Tax Shelter Clients
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Personal Finance:

Debt vs. the Dream Car
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Telecoms:

Motorola's net income plunged 94%
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Tellabs' income drops 94 percent
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Environmental:

Supreme Court Decision On CERCLA Could Have Significant Impact In Bankruptcy Cases
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Mass Torts:

Bogus Claims
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New Bankruptcy Opinions
(4 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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Health Care:

No deal on Bayonne Med Center, talks will continue tomorrow
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NJ hospital heads to auction block
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Agents search WellCare headquarters in Tampa
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Drug packager says it's bankrupt
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Judge to buyers: Put up, or BMC shuts down
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New Jersey Hospitals Face an Uncertain Future
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Assets:

Trustee wins free speech suit
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Rating Agencies:

Moody's profit falls 13% as credit slump slows ratings demand
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Mining:

Asarco smelter cleanup - Access to dirt denied
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Credit Cards:

Banks allege TJX data breach tops 94M
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Corporate Reform:

Defense: Getting Paid For Doing Nothing
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Tilting the Scales of Justice
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Turnarounds:

Nontraditional Lenders Face Corporate Governance Challenges
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Rulings Ease Personal Liability Threats for Turnaround Pros
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CROs Can Be Driving Force for Good Corporate Governance
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Governance, Rehabilitation in the Nonprofit Sector Issues, Responses Similar to the For-Profit World
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Value Blunders Are Easy Marks for Value Renewal
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Financial Literacy:

Should schools warn students about debt?
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Municipalities:

Errand of mercy
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Food/Drink:

BIOTA to fold, once and for all
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Jay's buying Jays? Filings point to bid by Snyder's
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Interpreting Bankruptcy Code Sections 502 and 506: Post-Petition Attorneys' Fees in a Post-Travelers World
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UK:

BOE Says Banks Vulnerable to `Shocks' After Credit Collapse
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Consumers revolt against debt insurance
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Footsie catches a chill from fresh US housing concerns
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Viragen loses its fight for survival
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Australia:

Jodee Rich to settle One.Tel case
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Canada:

A 'pretty ugly' quarter for Canadian retailers
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HSBC Sued in Ontario Over Commercial Paper Advice
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Invasion of the Moneylenders - Part 3 - "The black hole of debt"
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China:

China Says Economy Grew 11.5%
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Japan:

Subprime Woes Hit Japan's Nomura
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