April 23, 2008

Daily Bankruptcy News

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Law:

NY BigLaw Firm Says "Auf Wiedersehen!" to 30 Lawyers
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Lawyers Live in Fear
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Business Busts Pose Risk for Lawyers, Accountants
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Law Student Indebtedness
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The Hottest Docket in Town; Firms Clamor to Be Among the Few To Go Before the Nation's Final Arbiter
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After Layoffs, BigLaw Firms Moving Attorneys to New Practice Areas
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Sonnenschein Shortens Its Summer Program
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The Eyes of the Law: Alberto in Austin
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Cash Flow Problems Have BigLaw Firm Slowing Payments to Current, Former Partners
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NY BigLaw Firm Raids Rival for Four-Lawyer Finance Team
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N.Y. Dean Complains of 'Glut' of Law Schools
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BigLaw Firms Offering "Elderly Care" Benefits
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The GC as Chairman: Lawyer as Lightning Rod
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Mixture of Balance, Tight Focus Key to the Future of Midsize Law Firms
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Delaware #1, Legal System Survey Shows
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Pillsbury Winthrop Shaw Pittman's Web site got an upgrade this weekend
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Law Firm Merger Mania: Winston and Heller, Sitting in a Tree? M-e-r-g-i-n-g?
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Who Dumped WinstonHeller.com ... and Why?
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Outside and In-House as Partners?
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Ex-Quarles Partner Suspended For Not Reading Partnership Fine Print
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Partner Has License Suspended for Keeping Fees to Himself
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Here come the ARS lawsuits
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Chief Legal Officers Finding Happiness In-House
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Are Blackberrys the Next Battleground in Wage-and-Hour Litigation?
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In Search of Better E-Discovery Methods
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E-Discovery Enters the World of Arbitration
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Lawyer Disqualified After Another Party Sues Him for Misrepresentation
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Errant High-Five Leads to Lawsuit
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U.S. a World Incarceration Leader
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Quinn Emanuel bags Kirkland partner for London litigation launch
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Lawyer Sued for Defamation Over Letter He Wrote to Court
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Judge's Mom on Jury Didn't Violate Defendant's Rights
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That's my kind of freakin' deposition
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What's the most frequently cited law review article of all time?
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Say What?!
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Aviation:

Delta Air Lines Reports March 2008 Quarter Financial Results - Huge Loss
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Fuel Costs Begin to Hit Hard at Airlines
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Delta CEO says fares need to rise 15-20%
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Northwest, Delta CEOs see merger approval, fare hikes ahead
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Delta Northwest HQ move to cost carriers $245M
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Senators urge Delta to 'remain neutral' in union elections
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Airline CEOs Predict Smooth Path To Merger Approval
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United plans job cuts after $500M loss
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United Airlines shares plummet on 1Q loss, planned cuts
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United layoffs' effect on fliers
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UAL stock drop upsets balance of power
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United We Fall
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United Airlines flying around in circles
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Aloha Airlines pilots seek restraining order
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Aloha's Remaining Employees Frustrated
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Saltchuk Bid for Aloha Cargo Operations in Limbo
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Everything Must go! Aloha To Sell Off Aviation Services Business
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Who'll be next?
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AirTran Holdings swings to 1Q loss
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AirTran's dilemma
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State wants refund from Skybus
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Ex-American chief slams mergers, predicts higher prices
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Battered airlines prepare to deliver more dour news
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ALPA Files Suit for Back Pay and Benefits for ATA Crewmembers
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Summer travel headaches loom as airlines' woes deepen
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Delay In Marine's Return Frustrates Dad
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Italian Government saves Alitalia from bankruptcy - again
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Berlusconi: Air France's offer for Alitalia was unacceptable
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Alitalia could lose licence if it fails to meet obligations
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Berlusconi says Alitalia loan will give investors time to bid
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Corporate Reform:

Bernie Ebbers' wife files for divorce
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Broadcom pays $12 million to settle backdating charges
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SEC refuses to say why Bear enquiry dropped
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SEC vs. Execs at AOL, PurchasePro.com Part III
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Wall Street:

Futures Retreat on Credit Concerns
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US stocks head for higher open after pullback
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Credit Downgrades Reach 6-Year High, Will Accelerate, S&P Says
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Concerts:

Valcom files plan
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Real Estate:

US Home Prices Fall In A Hurry
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Realtors complain short-sale process is failing
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N.Y. Judge Finds Homeowner Liable for Loan
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The trillion-dollar mortgage time bomb
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California foreclosure surge: Up 327% from '07 levels
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Foreclosure notices surpass sales
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California home foreclosures climb as risky loans sour
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Bank of America to tighten mortgage rules after Countrywide purchase
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Fannie, Freddie Losses May Be Mitigated as IRS Cancels Rules
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Mortgage industry group spent $3.7 million lobbying in 2007
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Washington Mutual spent $980000 lobbying
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Republicans push rival housing plan
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Levitt wins approval to delay liquidation
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BofA, Countrywide forge ahead
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70% of subprime borrowers aren't getting help
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Unwanted guests swarming foreclosed homes
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Foreclosure Moves Open Gray Area in Preemption
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Subprime In Technicolor
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The Home-Burning Foreclosure Alternative
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Arizona AG: Efforts to prevent foreclosures not working
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Clock ticks for Quail Lake
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Justice Scalia and the Price of Homes
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Median Home Price Check: What $200,700 Can Buy
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Economy:

Inflation Fears Could End Fed's Fiddling
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Crude Oil Rises to All-Time High Above $119
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Are oil prices really at a record?
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Biz Optimism
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Yale's Shiller: U.S. Housing Slump May Exceed Great Depression
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Fed's Stern: Economic slowdown won't last long
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Autos:

Fuel rule costs hit Detroit 3
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Ford's recovery gaining traction
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Axle: UAW rejected proposals
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Feds: 36 mpg for cars by 2015
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Volkswagen profit climbs 26%
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Motorcycles:

AIM wants procedure OK'd
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Telecoms:

AT&T Profit Jumps 22% on IPhone Sales, Merger Savings
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Horse Racing:

Jockeys' Guild files to emerge from bankruptcy
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NYRA's bankruptcy plan likely to get OK
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Mining:

USW Releases Report on Grupo Mexico and ASARCO Bankruptcy
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Will sale of copper producer affect pollution, asbestos claims?
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Asarco agrees to pay $8.1 million for mine cleanup
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Rating Agencies:

A Rating-Agency Cure, or Mere Window Dressing?
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Citi, California ask Moody's to change muni ratings
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Textiles:

Dan River seeks $32 million in financing
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Corporate Governance:

Calpers wants to see more diverse corporate boards, greener policies
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The Evolving Role of Institutional Investors in Corporate Governance and Corporate Litigation
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The Developing Role of Public Pension Funds in Corporate Governance
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The Forgotten Derivative Suit
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Municipalities:

Vallejo Sets New Bankruptcy Deadline
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Bond market stumble hits county hard
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Alternative Fuels:

Farmers to be paid for seized grain
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Enron:

`NatWest 3' Ordered to Report to Prison in Next Three Weeks
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Health Care:

Medical meltdown is the next big thing
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Insurer Says Economy Has Dented Its Prospects
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Bonds:

Ambac posts first-quarter loss
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Recording Industry:

TVT Records wins final DIP
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Predatory Lending:

Payday Legislation Larded Up, Then Buried
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Personal Finance:

Working Folks Trade Food For Gas
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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)
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Bankruptcy Reform:

Bankruptcy change gets another push
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Banking:

Bank bond offerings a hit - except with current bank bondholders
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Fed has loaned $360 billion to banks since December
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CEO faces calls to resign at Wachovia annual meet
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Citi Shareholders Vent at Meeting
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An Uncomfortable Shareholder's Meeting for Citigroup
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Fifth Third Charge-offs Rise 289% in 1st Quarter
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Credit Suisse Cutting 500 Jobs as Client Demand Wanes
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UBS Plans to Slim Down Investment Bank, Kurer Says
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Little known lawyer to lift UBS out of abyss
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Royal Bank of Scotland admits loan losses hit £1.25bn in weeks
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RBS's recapitalization seen renewing bank sector writedown concerns
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Is RBS selling to buy?
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Allure of Ugly Banks
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Events:

International Insolvency Institute 8th Annual Conference
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M&A:

Showdown Over a Buyout
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Clear Channel banks offer to arbitrate
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Credit Cards:

Target Writes Off 8.1% of March Credit-Card Loans
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Hedge Funds:

XL Capital profit drops 57% as hedge fund returns wane
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Student Debt:

Government Seeks to Buy Student Loans
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Accounting:

PCAOB adopts new independence rules
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Businesses wake up to the crunch
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Business Outlook Survey Results
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Resorts:

Famed Palm Springs Nudist Colony to Close
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Insurance:

In Midwest, Recession Makes Soft Market Even Tougher
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NFFC gets final OK for DIP loan
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Bankruptcy Research:

Court-Supervised Restructuring: Pre-Bankruptcy Dynamics, Debt Structure and Debt Rescheduling
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UK:

Bank of England Splits Three Ways in Rate-Cut Vote
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RBS primed to face shareholders
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RBS's Board Flunks Test
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Talks bid as fears grow for bank jobs
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Scandalous Royal Bank of Scotland refuse to say sorry
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Linklaters leads on RBS' record rights issue
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When cash became king
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Leading accountant takes up public role at Insolvency Trade Body
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British home mortgage approvals hit 11-year-low
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Subprime lender in cash call
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Ex-RBG directors guilty of fraud
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EU:

ECB Officials Signal Inflation Pressure May Force Rate Increase
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European Services Growth Unexpectedly Accelerated
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Canada:

EnCana Profit Drops 81% on Derivatives Contracts
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Legal wrangling intensifies over asset-backed commercial paper
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Crawford optimistic ahead of ABCP noteholder meeting
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Canadian Companies Want Debt Plan Releases Dropped
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Squabbling intensifies at hearing on ABCP
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Canada Cuts Rate by 50 Basis Points as Economy Slows
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Quebecor World's DIP facility assigned 'BBB' rating
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Four bankruptcies a record for province
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Japan:

Bank of Japan May Drop Call for Higher Rates as Growth Slows
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Germany:

IKB Case Is Referred to Prosecutors
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Russia:

Russia to beef up bankruptcy laws
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