September 5, 2007

Daily Bankruptcy News

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Law:

Ex-Partner Sues BigLaw Firm for Millions for Underpaying Him
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Lawyer of the Day: Foley & Lardner's Z. Julie Lee
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A fresh crop of lawyers are ready to start their careers, but today's first-years need a few tips on getting off on the right foot
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Wachtell Lipton's Biggest Battle
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X-Summers: The Bruised Booze Cruiser
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Pay Raise Watch: Kilpatrick Stockton
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Three Law Firms Pump Up Pay for First-Years
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As a big-firm associate, your role is not to be evacuated to safety but to put out the flames or risk being burned
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Perk Watch: A Business Casual Dress Code
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To many, class-action lawyer leaves classy legacy
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Greenberg Traurig: Always Something Crazy Going On
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Trial Tech Smokes Out Big Tobacco
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Sonnenschein Faces $9 M Suit by Ex-Lawyer
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Atlanta Falcons Trying to Recover Millions in Bonuses Paid to Vick
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Blue Light Special in the Boot and Nuke Department
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Jenkens & Gilchrist: No Wonder They Went Out of Business
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Say What?!
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Lovells Announces Landmark Alliance With Nine Chinese Firms
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Texas GC Compensation Robust in 2006
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Surfing the Net is Now Work for Lawyers
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New Rankings: Yale #1; Harvard #4?
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Economy:

Fed, Blamed for Asset-Price Inaction, Is Told `Tide Is Turning'
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OECD cuts forecast for U.S. growth amid housing slump
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The rise of the non-bank financial system
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Factory sector growth slows in August
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US manufacturing hit by credit crisis
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Deutsche Bank Chief Says Markets Are Stabilizing
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Credit crunch gallery of guilt
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Wall Street:

Home Depot, Staffing Firms Fall
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Nine Reasons the Feds Can't Save Stocks
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CNBC commentator Seth Tobias found dead in Florida pool
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U.S. Futures Decline
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Labor:

Survivors married to the job
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Are CEOs worth that much more?
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Horse Racing:

Gov. awards NYRA control of state horse-racing tracks
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Mass Torts:

Congoleum Faces Delisting
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Calling all popcorn lawyers
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ABB May Opt for Purchase, Spurning Cash Return Calls
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Professional Compensation:

"Hard-pressed to explain how it is appropriate that an appellate lawyer who is attempting to save a human being's life is compensated at the rate of $140 per hour while the same lawyer could receive as much as $540 per hour to represent an insolvent corporation"
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Education:

Founder of big California charter school network indicted
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Student Debt:

Confessions of a Debt Pusher
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Majoring in Credit-Card Debt
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Senate digs up more evidence of conflicts in school-loans investigation
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Student loan report critical of Citizens Bank
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Ties between N.J. colleges, lenders severed
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Credit Cards:

Dungeons Of Debt
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Ethics:

Bankruptcy judge sanctions 2 attorneys for frivolous filings
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Cash Management:

Probe reveals Sentinel missing $505m
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Politics:

N.Y. Senator Seeks To Woo Older Voters By Promising Bankruptcy Pension Reform
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Corporate Governance:

Board oversight is a good thing, but the procedures of the new governance firms leave a lot to be desired
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Autos:

Ford August U.S. Sales Drop 14.4%
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Ford's supplier strategy struggles
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Alan Mulally's Report Card
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Surprise Sales Rise at GM
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Dana plans to cancel 150M shares of old stock
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Health fund poses risks for UAW
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Detroit fears impact of credit crunch
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Autos' Subprime Shock
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Real Estate:

The Worst Is Yet to Come
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Danger: Steep drop ahead
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Banking regulators urged lenders to restructure the loans of millions of borrowers at risk of losing homes
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Will Asking Mortgage Servicers to Modify Mortgages Have Much Impact?
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The subprime stairway to heaven
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President Bush's proposal targets an obscure tax
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Construction in the US Declines Most Since January
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Housing Slump Strains Budgets of States, Cities
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Housing Woes Hurt NovaStar and Insurer
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NovaStar Nixes Offering
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Deloitte Forecloses on NovaStar Stock Offerings
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Land of 10,000 Home Deals
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American Home Gets Final OK on $50M Loan
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Unraveling the Subprime Mess -- Congress, Treasury Set To Review Meltdown; Targeting Credit Raters
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First American Cuts Jobs,NovaStar Survival at Risk
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Fed asks mortgage servicers to help borrowers
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Quality Home Loans Agrees To Be Bought By Michael Klein
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MA AG bans foreclosure rescue scams
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NovaStar: Going, Going....
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Bush move could aid tens of thousands
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Subprime Help Could Be Slow Coming
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Thornburg Completes $1.4 Billion Financing of Loans
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Miami Law Firm Launches Advisory Group to Assist Banks and Mortgage Lenders Facing Demands to Repurchase Defaulted Mortgages
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Creditors likely to OK Kara makeover
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Regulators Facing Questions in Congress
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Latinos hit hardest by mortgage crisis
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Much blame to share in mortgage crisis
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First Magnus can abandon leases
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Second-quarter strength in commercial real estate bodes well for rest of year
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MGIC, Radian Call Off Deal
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Hudson & Marshall to Auction 700 Detroit Homes
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Theme Parks:

Bank files to seize Wild West World rides
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Hedge Funds:

Less Opposition to Hedge Fund Code
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"Wishful thinking" on hedge fund regulation - Lehman Brothers
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Investors in the two collapsed Bear Stearns hedge funds want to replace Bear as the funds' general partner or director.
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Failed Bear fund's investors seek outside liquidator
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Hedge funds suffering
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In a Too-Close Tango, Carlyle Trips Over Age-Old Missteps
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Deloitte Cashes In On Hedge Fund Boom,
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Food/Drink:

Krispy Kreme franchisee files for bankruptcy
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Finance:

Liquidity crisis grows as Libor rates gap hits 20-year high
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Corporate Reform:

Former Oasis leaders sued
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Don't let SEC executive comp queries end up in the dead-letter office
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Company jet use by CEOs (and families) for personal travel is heavy, as are the costs
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Banking:

Debt 'Conduits' Are Hovering Over Citigroup
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Retirement:

Most don't consider house part of nest egg
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Bonds:

Distressed Bonds Increase Most Since 2003
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Fraud:

Financial services workers report high levels of fraud
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Universal Express to File Stay in Appellate Court
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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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An Extended Vacation for Bankruptcy Advisers
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Bankruptcy Reform:

Did the bankruptcy reform touch off the mortgage bubble?
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Tax:

California's top tax debtors warned
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Telecoms:

Judge rules against Iridium creditors who wanted billions back
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Health Care:

Time to Take Health Care Off the Bargaining Table?
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Parkway Pays Feds $1.1 Mil To Settle Old Fraud Charges
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Saint Vincent Catholic Medical Centers Emerges from Chapter 11
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Manhattan: Hospital Group Clears Its Debt
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Kessler lawyer raises questions on Foundation
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Southwestern General operations end as buyer sought
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Sale of hospital's assets halted for now
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Movie Industry:

Movie Gallery Gets Creditor Extension
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Layoffs:

Lender Not Required to Provide Notice of Firings To Debtor's Employees
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Layoffs surge 85% on mortgage meltdown
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Predatory Lending:

Payday loans can carry some steep costs
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Academia:

Business scholars are delving into the personal lives of CEOs, part of an emerging and controversial area of financial research, in search of links to stock prices and corporate performance
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Religion:

Progress seen in diocese settlement talks
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Bankruptcy Statistics:

Toledo-area bankruptcy filings up 29% from August, ý06
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Enron:

BP objects to Enron comparisons during jury selection
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Lehman Sees 'Material Hit' to Europe Investment Banks
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UK:

Brown calls for greater clarity in financial products
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Worst lending crisis since 1998
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U.K. interest rate rises on subprime concerns
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BoE holding talks with jittery UK financiers on market turmoil
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Bank of England Calms Overnight Rate, Won't Aid 3-Month Costs
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FTSE lower on financials woes
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Deloitte to oversee Cheyne receivership
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Mortgages: The big squeeze is here
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IVAs Not The Answer To Debt Trouble
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New Zealand:

Fourth Kiwi finance company in receivership
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Israel:

How much are Heftsiba bonds worth?
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Indonesia:

Indonesia gov't to appeal bankruptcy ruling on aircraft maker
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Canada:

Bankrupt bikini business bought
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Credit crisis hits buyouts
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Germany:

Moody's cuts German bank IKB's debt, citing weak credit profile
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DZ Bank Chief Is Still Interested in Buying IKB
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Japan:

Japanese Market Plunges On Lingering Subprime Worries
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Japan Banking Min Warns More Subprime Turmoil Ahead
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