April 24, 2008

Daily Bankruptcy News

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Law:

Subprime crisis? Nothing to do with us, guv
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As Economy Slows, Bridge-and-Tunnel Bankruptcy Work Picking Up
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How Attorneys Can Avoid Big Claims Over Bankrupt Clients
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Midsize L.A. Litigation Firm to Open London Office, Plans to Sue Banks
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Firms to hold off on major pay hikes
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Legal and Accounting Malpractice--Growth Areas?
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What If New York's Law Firms Went Public?
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Winston / Heller (or Heller / Winston?) Rumors
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Drinker Biddle Revenue Soars 45 Percent, Partner Profits Drop by 1.7 Percent
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Three Practice Heads Dump Thelen for Proskauer
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Shearman to put faith in youth
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If it's broke . . .
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Small Firm Draws In Big Clients With Diversity
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Managing Partner Confidence Continues Titanic Impression
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Survey Results: Firm Pay Moving Expenses?
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'I try not to read that many cases, Your Honor.'
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Rezko Trial Bombshell Claim: GOP Top Guns Tried to Oust US Attorney
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Rove Implicated in Rezko Prosecution Deal
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Ex-Scruggs Partner Requests Sanctions
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Lawyer of the Day: American Idol's Will Hopkins
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Marvell May Have Lost Battle to Suppress Voice Mail in Trade Secrets Case - Company's former GC and two colleagues inadvertently left voice mail message on phone of rival's top lawyer
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More Law Firms Offering Programs for Elder Care
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O'Connor Sees Ethical Deficit in Legal Profession
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In-House Roundtable Discussion Gives Outside Counsel an Inside Perspective
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Altman Weil Targets 10 Trends for GCs to Watch
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Is This Law Firm Ad Unethical?
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Ed Koch Closes Deal of a Lifetime
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How Some Firms Celebrated Earth Day
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Reed Smith dumps Richards Butler brand
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Lawyer Ponies Up Cash for a New Building for His Alma Mater
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Phone number in Texas FLDS abuse report linked to Colo. woman
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What a Law Firm Quarterly Earnings Report Would Say
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Merging Two Firms and Making Them Run as One
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Hunton & Williams Celebrates 'Staff Appreciation Week' (Or: Hey paralegals, want Polident?)
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Is There a 'Bald' Business Advantage?
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Like a Grunge Concert, Only With Lawyers
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Case Evaluation: Too much emphasis on a quantitative approach often misses key factors
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The controversy rages on about whether in-house lawyers should append "Esq."
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Judges:

Somma still a bankruptcy judge, gets extension of paid leave
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Caseload, Marital Problems Raised as Factors in Judge's Tirade Over Courtroom Cell Phone
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Late judge's court contaminated with mold;
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Judge Lied Under Oath, Should Be Dismissed, Panel Says
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Order for Attys to Donate $500K to Charity Backfires on Judge
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Aviation:

Delta and Northwest Post Big Losses
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Behind the Delta-NW Mega Loss
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Delta CEO: Likely To Identify Additional Merger Synergies
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Airline Merger Hearings
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Airline merger will cripple competition
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Blocking merger would cause more harm than good
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AFA-CWA to Testify at Congressional Hearing on Delta/Northwest Merger
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Delta union boss: Pilot deal possible
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Delta, Northwest Call Varied Fleet an Asset
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Oil spike fuels airline fears
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Boeing quarterly profit climbs 38%
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Airlines Caught Un-Hedged
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April: A cruel month for airlines
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Most Airlines Look None Too Slick
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Why Congress can't fix air travel
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Aloha pilots seek court's help
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Aloha Pilots Authorize Strike; No walk-out date set
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Low-cost carriers tweak their models
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Frontier Airlines ends jet service to five cities
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Claim filed for parts payment from Frontier
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Republic To Cease Flying For Frontier
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Republic: Planes For Sale
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Aircraft, pilots now come cheap
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State of Ohio Wants Refund From Bankrupt Skybus
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States as Creditors in Bankruptcy: Ohio and Skybus
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Alitalia Calls Board Mtg For Late Thursday After Government OKs Loan
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Berlusconi vows all-Italian Alitalia rescue within 5 weeks
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Thousands of Alitalia employees turn to Air France
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EU: Italy not formally notifying on Alitalia loan
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Low-cost carriers from emerging markets struggle to reach profitability
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Alternative Fuels:

Biofuels rethink looms
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$80M CIE sale approved
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Bankruptcy judge OKs sale of ethanol plant
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Bonds:

Bondholders Lucky to Get 10 Cents in Looming Defaults
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Ambac: Lawyers Scrutinizing Contracts On 17 Transactions
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Ambac May Need More Capital After Reporting Loss
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Ambac Net Loss Won't Lead to Downgrade, S&P Says
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Ambac's Losing Prospects
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Earnings, What Earnings? Ambac Loses More Than Total Share Price
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Crisis over? Not quite: Bond insurers take another hit
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Groups to enter bond insurance
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Plastics:

Sale of bankrupt Victor Plastics completed
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Environmental:

Save Our Springs keeps its dukes up
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RVs:

Monaco Coach Takes Bad Turn
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Bankruptcy Research:

Financial Versus Social Efficiency of Corporate Bankruptcy Law: The French Dilemma?
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Real Estate:

US House Panel Supports Legal Protections For Mortgage Firms
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Warren: Sunshine on the Housing Debate
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Taubman says first-quarter tenant bankruptcies up
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Bad Underwriting, Not Rate Resets, Causing Subprime Delinquencies
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Subprime woes concern Dodd
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House Panel Approves $15 Billion Foreclosure Bill
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A federal cure for the U.S. housing crisis faces obstacles
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States spar for foreclosure funds
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The Feds' Subprime Suspect
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The Future of Mortgage Servicing
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Why Don't More Walk Away
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Few seeking help to avoid foreclosure
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Kimball Hill files for bankruptcy protection
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Pulte 1Q loss widens on hefty land charges
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Reynen & Bardis cofounder files personal bankruptcy
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Boston Hill bankruptcy case dismissed
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Developer Barclays North admits financial crunch
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No Dent Made in Foreclosure Prevention
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Moody's cuts GMAC, ResCap debt, may cut again
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Merrill Lynch accuses National City of misrepresentation
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Law firm bills $1.3M in First Magnus case
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'Unaffordable' Now Within Reach
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The Sky's Not Falling
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Autonomy strikes subprime gold
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Plan to buy Countrywide irks BofA shareholders
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Economy:

Fed to auction $75 billion in Treasuries to ease credit woes
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Americans hoard food
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Seeds of a Panic
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Era of cheap food ends as prices surge
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Warehouse Stores Restrict Rice Sales
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The Cavalry Isn't Coming
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Unsinkable American consumer won't bail out business this time
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Miller Says Bear Stearns Sale Signaled End of Panic
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Lenders Predict Rough Road Ahead for the Economy
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Now, businesses are putting off leasing equipment too
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Debate on Fed role in Bear Stearns rescue continues to rage
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Fed Weighs Pause After Next Cut
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Autos:

Dura bankruptcy judge rejects bond trader's request for payment
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GM Global 1Q Sales Down 0.6%, Trails Toyota
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GM, Ford bonds may offer more than their stocks
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UAW: Axle's cuts too deep
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Ford Swings to Profit in First Quarter
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Derivatives losses eat into Hyundai Motor's profits
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Delinquent auto loans on the rise
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Sagging car sales perk up the aftermarket
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Banking:

Credit Suisse swings to loss on $5.2 bln write-down
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UBS shareholders OK $15b capital hike to shore up finances
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How UBS came undone
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UBS warns of more job losses
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UBS Officials Promise Changes at Bank
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UBS says no merger with Deutsche Bank
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'Tough conditions' hit Barclays
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CFNB Reports 29% Decline in Nine Month EPS
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SunTrust Sees Troubles in Mortgages, Home Equity
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Ohio Regional Bank Sees Charge-offs Triple
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No banker left behind
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Memo to Bankers: During Credit Crunch, Skip the X-Rated
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Municipalities:

Vallejo City Council Delays Bankruptcy Vote
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Vallejo initiative proposed to end arbitration
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Defining 'receivership,' and whether it would be good for Rockland
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Publishing:

Mountain Dreams Publishing files for bankruptcy
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Consultants:

Alvarez & Marsal Expands Dispute Analysis & Forensics Services
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Retailing:

No bonus for top Dillard's exec in '07
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RE firm wants to keep Kansas mall
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Sharper Image Corporation Announces Intent to Pursue Sale of the Company and its Assets
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RedEnvelope wins DIP
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The Tax-Rebate Scramble
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Linens 'n Things and the duh factor
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Ames wins six more months
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Hoop can shed Disney stores
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Tech:

Apple's quarter income rises 36%; revenue tops expectations, stock declines
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Adult Entertainment:

Scores can't shake booze ban
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Personal Finance:

How I Became a Little-Guy Lender
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Bankruptcy Services:

Epiq profit jumps on higher revenue
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Celebs:

Stewards of James Brown Estate Sue Morgan Stanley
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M&A:

SPAC purchase prices more than double
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Involuntary Bankruptcy:

11th Circuit Holds Requirements Of Section 303(b) (Involuntary Bankruptcy) Are Jurisdictional -- But It Doesn't Like It
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Layoffs:

Mass layoff events and initial claimants for unemployment insurance, April 2004 to March 2008, seasonally adjusted
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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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T-REX
Sell your bankruptcy claim to the highest bidder
Distressed Debt Auctions

Bankruptcy Reform:

Clouding the Housing Debate with "Facts"
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H.R. 5830 is scheduled for markup on April 24th
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Debt Collection:

Debt Collection Done From India Appeals to U.S. Agencies
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Alliance Financial headed for Ch. 7
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Bankruptcy Statistics:

Business Bankruptcies Rose 43% in 2007
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Software:

Spyrus wins confirmation quickly
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Finance:

Revolving Credit May Pose Next Risk
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Manufacturing:

GE's Immelt Says 1Q Criticism Tough But Deserved
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Immelt says capital markets have improved
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Radnor unsecureds left out to dry
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Oil/Gas:

Billionaire oil man set to bet on the wind
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Forest Products:

Remembering the old Pacific Lumber Co.
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Judge has clear choice in Headwaters settlement
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Pope & Talbot sale of mills faces obstacles
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Wall Street:

SEC may require investment banks to hold more cash
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Futures Slip on Earnings Worries
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Cool Hand Luke 2008
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Financial Literacy:

How to raise financially savvy kids
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Wealth Watchers Wants to Help Students Avoid Debt
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Financial Privacy:

Lending Tree Gave Away Passwords To Mortgage Lenders, Class Claims
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Corporate Reform:

Durbin wants gas price probe
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Predatory Lending:

VA: Critics say payday-loan reforms aren't enough
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Rating Agencies:

Drop in credit issuance cuts into Moody's earnings
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Book Reviews:

"Bad Money" author says our focus on finance could be our downfall
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Textiles:

Former mill town struggling
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Dan River looks to unload equipment
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Gambling:

Ratings service lowers Herbst Gaming's bond rating
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Telecoms:

Deal settles Iridium creditors' claims
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Food/Drink:

Starbucks hit by housing slowdown
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Restaurants Feel Sting of Surging Costs, Debt
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Leisure:

Carnival Cruise Lines CEO warns of huge fuel costs
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Furniture:

UST seeks Bellach's Ch. 11 trustee
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Student Debt:

Bush admin. supports student loan plan
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Fraud:

Lender indicted in alleged Ponzi scheme
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Tax:

Help for Home Buyers Likely, But Student Loan Forgiveness Could Cost More
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Health Care:

Northwest awaits conversion
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As Economy Slows, So Do Laser Eye Surgeries
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Employers almost universally against universal health care
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Environmental:

Asarco gets court OK for enviro payouts
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UK:

Banks Trying to Sell Boots Debt
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Sex 'third most common reason for debts'
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Sex Infections Soar Among UK Middle-Aged
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Ex-Wives Capture Future Bonuses in U.K.
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Freshfields and Linklaters scoop key roles on RBS rights issue
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March's net mortgage lending weakened and all forms of mortgage approvals declined
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The deepening credit crisis - The impact on account receivables management
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Audit costs are set to rise dramatically
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KPMG deals save 2500 Erinaceous jobs
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The Applicability Of Solvent Schemes Of Arrangement To German Portfolios
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EU:

European government bonds recover after Noyer backtracks
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Germany:

Deutsche Bank employee under investigation for insider trading
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Deutsche Bank to Play `Active Role' in Bank Consolidation
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Canada:

Flaherty to Tighten Regulation of Canadian Banks After Losses
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Grits' pension bailout strategy 'stupid' - Tories
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Australia:

Mire at end of the rainbow
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