February 1, 2008

Daily Bankruptcy News

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Law:

Cadwalader Lays Off Staffers, Hopes to Spare More Lawyers the Ax
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Small Law Firm's Big Role in Bundling Mortgages
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McKee Nelson Rode Subprime Boom to Big Profits, Sees Opportunities Ahead
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The Importance of Being Ethical
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Bonus Watch: DLA Piper
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Bonus Watch: Kaye Scholer
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Associate in too much coffee email shock
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Do Associates Get 'Pigeonholed'? (And If So, What To Do About It?)
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The Art of Retaining Laterals
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Unencrypted Emails Between Attorneys and Clients May Not Be Privileged
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Lawyer investigated for billing 30 hours a day
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Scruggs Plans to Plead Fifth in State Farm-Hood Spat
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Former "Scariest Lawyer in America" Wants Sentencing Documents Sealed
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Job Seeker of the Day: Pietro deVolpi
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Corporate Outsourcing Fuels Law Firms' Growth
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Texas Supreme Court Judge Cashed Out on Home 3 Times Before Fire
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Judge Reprimanded for Calling Three Black Female Lawyers 'the Supremes'
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Must Lawyers Still Dress for Success?
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Biz Trip? Take the Kids . . .
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How Cogs Can Distinguish Themselves
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Lawyers drink the most tea
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Burr & Forman to merge with Bowron, Latta
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Moves to bankrupt former cross-dressing lawyer
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Be Careful What You Ask For
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Oregon's High Court Re-Reaffirms $79M Philip Morris Verdict
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McDermott London office hemorrhages partners
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Law Firm Employee Wins Crucial Legal Victory On Workplace Flex-Time
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Say What?!
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Bonds:

MBIA Defends AAA Insurer Rating, Dismisses Bankruptcy Rumors
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Troubled bond insurers cast a giant pall
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MBIA shares rise; bond insurer highlights liquidity
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Why bond insurance matters to the market
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Bailout of credit insurers 'unlikely'
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MBIA Confident In Ability To Maintain AAA Rating
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Insurer's losses spark Wall Street row
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Ackman Devoured 140000 Pages Challenging MBIA Rating
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Buffett may emerge as the winner from U.S. bond market turmoil
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US junk bonds hit a trough
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Hedge Fund Bully Plays Subprime Savior
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Advertising:

Economy Sneezes, Ad Market Chokes
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Wall Street:

Credit worries offset Fed rate cut boost
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Merrill Lynch to Reimburse Massachusetts City for CDO Purchase
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Wall Street Embraces Big Government to Stave Off U.S. Recession
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Wall Street Boosted by Insurer's Confidence
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Stocks Head Toward a Merger - Themed Rally
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Stock Futures Soar on Deal News
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Religion:

Davenport diocese to file bankruptcy plan
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Davenport Diocese outlines settlement sources
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Davenport diocese files bankruptcy plan
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Four churches to help with sex abuse settlement
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Davenport diocese plans to launch reform campaign
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Fraud:

The risks of fraud go well beyond SocGen, "endemic"
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Police take French trader's computer
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Maybe they should've made him a senior rogue trader
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SocGen prepares strategy as bidder field widens
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SocGen staff group says could be open to merger
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As Suitors Circle, EU Warns Against Protecting SocGen
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How to Nab the Rogues: 10 Fraud Tips
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Horse Racing:

Jockeys' Guild bankruptcy case to stay in Kentucky
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Utilities:

Akron Thermal wins round in bankruptcy fight
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Lumber:

Palco gives glimpse of new bankruptcy plan
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Pacific Lumber files competing plans
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Oil/Gas:

OPEC Pins Hopes on US Soft Landing
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Bankruptcy Crimes:

Yagman Delays Prison Sentence Again
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Mother and son accused of robbing Round Rock bank
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Mass Torts:

$15.3 million in asbestos case
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Real Estate:

Many unaware of mortgage help: Freddie Mac
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New $20B subprime bailout on the table
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No one should make it easy to walk away from your mortgage
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FDIC: Subprime Modifications 'Lagging'
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Subprime Pandora's Box
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Merrill Buys Back CDO Securities
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Collateralized damage
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Stricken US homeowners confound predictions
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Bad news for U.S. housing industry
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Countrywide Holder Calls Bank of America Bid Too Low
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Countrywide activist
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Fund Criticizes Countrywide Deal
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Bank of America, Countrywide to Name Sambol to New Role
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Florida Investigates Countrywide Over Mortgage Practices
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Housing Meltdown
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TOUSA receives Court Approval for $135M in Financing
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TOUSA CEO reassures employees regarding bankruptcy
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TOUSA creditors dispute ruling
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NH objects to mortgage company request to destroy records
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HBD files at lenders' request
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Firm purchases assets of Trend Homes
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Philly SPCA to accept pets without fee in foreclosure cases
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Subprime Crisis Devastating Minorities The Most
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JPMorgan Tightens Loan Standards
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People's Choice requests extension
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FBI`s Subprime Crackdown May Expand to More Firms
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National subprime crisis hits individuals in their homes
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Bankruptcy Filers Sue Fidelity National Information Services for Alleged Kick Back Scheme
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Tentative Deal to Salvage Real Estate Empire
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Economy:

Consumer Spending Slows, Jobless Claims Rise
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Personal Spending Slows In December; Wage Growth Slips
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Nonfarm Payrolls Sank 17,000 in January, First Drop in Four Years
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Senate to Add Jobless Benefits, Tax Rebates to Stimulus Package
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Senate Democrats Short of Votes for Stimulus Bill
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Robert Rubin: What meltdown?
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Preparing Your Company for Recession
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Credit Cards:

MasterCard profit jumps, shares soar
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Accounting:

Big Four Stems Rush to Smaller Auditors
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Top 10 Ways to Cut Your Audit Bill
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Aviation:

Mediator turns down American Airlines union request for help
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Alitalia stake sale faces court delays
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Academia:

Bankruptcy Codes, Liquidation Timing, and Debt Valuation
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Derivatives:

Gross Exaggeration
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Telecoms:

Unable to shake slump, Motorola ponders bust-up
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Prosser draws more fire
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Autos:

Dana Corp. fails to exit bankruptcy by self-set deadline
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GMG wipes out in Ch. 11
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GM looks at beefing up buyout deals
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In bankruptcy shift, Champion to sell off its assets, close down
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Execs Targeted In Unique Performance Investigation
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Johnson Rubber pleads DIP case
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Blackhawk boosts DIP
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Construction:

American Standard Building Systems Bankruptcy Expected
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Corporate Reform:

$65 Million Settlement Secured in KLA Backdating Case
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Corporate Pretrial Pacts by DOJ Rose Sharply in 2007
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Monitors Can Foster Reform, Credibility
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Convenience Stores:

Court to decide fate of 63 Ameristop stores
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Celebs:

Wesley Snipes Jurors Want Definition of "Conspiracy"
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Books:

Book Offers Practical Advice Based on Three Decades in the Trenches
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Distressed Investing:

Cashed up vulture financiers ready to hit
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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 Work Is Booming
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Retailing:

The testing of long-term Eddie
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Middle Class:

Middle Class Marathon
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Layoffs:

Whirlpool to cut 1250 jobs
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Friends shake-up to cost 600 jobs
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Home Depot to lay off 10% of headquarters staff
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Ericsson Posts Lower Net, Will Trim Up to 4000 Jobs
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H&R Block to Eliminate 505 Jobs
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Alcatel-Lucent cuts 400 French jobs
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Consumer Bankruptcy:

Muttering about the means test
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Sovereign Debt:

Bin Laden: Goal is to bankrupt U.S.
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Health Care:

National Century Health Care Financing Fraud Trial Nears
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Turnaround Underway, Hospital's Operators Say
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Moore Medical Center: What a difference one year makes
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Kaiser in, Select out for hospital
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NJ Report Provides Thorough Examination of Hospital Fiscal Woes
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Hedge Funds:

Basis Bankruptcy sets Gloomy Precedent for Offshore Funds
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$19 Million Settlement Reached in Hedge Fund Case
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Chapter 15 Proves No Safe Haven for Offshore Hedge Funds
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RVs:

National RV wins use of cash
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Municipalities:

North Forest school district's woes grow
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Politics:

Mortgages at the Dem's Debate
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Debt Marks Bush Legacy
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Firefighting:

American LaFrance can access DIP
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Payroll Services:

Axium sold for $7.05 million
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Conflicts:

Creditor Control and Conflict in Chapter 11
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Electronic Games:

Win Win Gaming's petition converted
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Manufacturing:

Tennenbaum Wants Rival Radnor Plan
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Cross Border:

Cooperation Brings Quick Resolution to Bombay Cross-Border Case
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UNCITRAL Refining Guidance on Multinational Corporate Insolvency
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UK:

Bankruptcy orders up in 2007
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Personal insolvency figures down for 2007, govt claims
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Insolvency drop just a 'pause for breath'
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Debt measures 'too little, too late'
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Consumer debt continued to increase in 2007
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Bulls reveal bankruptcy fear
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Japan:

Mitsubishi UFJ net profit falls 54.4%
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Japan's subprime losses grow
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Is US entering Japan's nightmare?
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Eastern Europe:

Market downturn gives East Europeans a painful lesson on risk
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Canada:

CIBC Pays Executives C$575 Million Over 9 Years, Analyst Says
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Icefloe Technologies pushed into bankruptcy by its lenders
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Investment adviser placed into bankruptcy
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EU:

Bank shares tank as credit fears deepen
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South Korea:

Lone Star's Yoo Jailed in Korea on Stock Manipulation
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China:

China's Enterprise Bankruptcy Law Is a Work in Progress Detailed Implementation Rules Still Two Years Away
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