February 5, 2008

Daily Bankruptcy News

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Law:

Greenberg Traurig's CEO Announces Plan to Freeze Some Salaries
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Lawyers' salaries catch up with investment bankers'
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Fewer Law Firm Options for New Grads?
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After Giuliani, Lawyers Shift Their Allegiances
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Offices in Secondary Markets That Pay the Full $160K Scale
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White & Case, Weil Gotshal Show Strong Financials for London Offices
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McKenna Long & Aldridge Names Bankruptcy Partner
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Stradley Ronon Elects Bankruptcy Partner New Director
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Did You Work on MLK?
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Hillary to 190K?
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Locke Lord Bissell & Liddell Launches New Section to Serve Financial Guaranty Insurers
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Sidley Austin UK revenue breaks £60m
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Wilmer's Bounce
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Husch Blackwell Plans New Chicago Office
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John McCain: Not a Lawyer, But Loves a Good Lawyer Joke
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Should Your Personal Online Chronicles Jeopardize Your Career?
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Extra Jobs Help Judges Stay Financially, Physically Fit
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Sharing Knowledge With Other Lawyers: Priceless; Sending Faxes About What You Know: $21,000
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Lawyer Loses License for 30 Months Over "Exorbitant" Fees, Ethical Breaches
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Senate's Effort to Ban Junkets Could Stall Judicial Pay Raises
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Judge Raps 'Cat and Mouse Game,' Withholds Attorney Fees
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DA Admits Deleting E-Mail, Making Errors in Testimony
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Say What?!
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Federal Prosecutor Says Bosses Ruined Him
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Banking:

Fed Says US Banks Are Tightening Lending Standards
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Lending Pullback Delays Bankruptcy Exits
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Smaller Lenders Feeling Squeeze Of Credit Crunch
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Loan Officers' Outlook: Credit Quality Will Keep Falling in 2008
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Multi-billion euro fraud causes European banking world uneasiness
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Fraud:

US regulators probe stock sales of SocGen director
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A Trader's Secrets, a Bank's Missteps
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Soc Gen: Bank's Controls Didn't Work
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How a bank's trading functions are split
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SocGen trader faked internal counterparties
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French SocGen trader Kerviel reportedly questioned Tuesday by police
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Trader Kerviel Under 24-Hour Police Protection
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From rogue trader to money-spinner
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SocGen braced for fresh criticism
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Even Clouseau could've found the rat at SocGen
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Telecoms:

Blue Frog in bankruptcy, trustee calls it a "big mess"
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Turnaround expert named Hawaiian Telcom CEO
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Toys:

Lionel, Neil Young Seek Buyout
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Recording Industry:

Warner Music Wants Death Row Assets
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Video Rentals:

Movie Gallery to Close 400 More Stores
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Bonds:

Bank losses from monolines seen up to $7 billion
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Utilities:

Calpine to initially distribute 423 mln new shares
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Wall Street:

U.S. Stocks Drop on Bank Downgrades
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Is this the bottom? Insiders buying stock at a breakneck pace
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Downgrades Hit Financial Stocks
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Asian Stocks Fall
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Market Retreats After Last Week's Leap
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Stocks Point to a Lower Open
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Real Estate:

New Century Files Ch 11 Liquidation Plan
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Prime Mortgage files for bankruptcy
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Gateway Homes Files Bankruptcy
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AHM mortgage sale OK'd
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Former MBNA CEO Bruce Hammonds will soon have a big job on his hands.
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Bush's Subprime Rescue Plan Undermined as New York, Ohio Reject Borrowers
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Merrill Lynch Opens Legal Hornet's Nest
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OH AG's foreclosure gambit shot down
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Md. Senators To Start Looking At Foreclosure Bills
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NC will pay for foreclosure counselors
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U.S. Housing Crisis Casts A Cloud Over Sun Belt
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SIRVA Reaches Restructuring Agreement with its Lenders
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Developer denies fraud; state says homebuyers lost $24M in deposits
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Subprime Fiasco Spawns Another Lawsuit
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Autos:

Judge sets hearing in Chrysler supplier dispute
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Spat Could Close 14 Chrysler Plants
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Interviews with Chrysler Employees Affected by the Plastech Bankruptcy
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Plastech: Employees not impacted
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Chrysler Idles Plants Over Dispute With Plastech
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Chrysler, supplier on collision course
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Plastech says loss of Chrysler business led to Chap. 11
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Ford: Plastech Bankruptcy Won't Affect Production
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Dana Corp. expects up to $475 in annual savings post-bankruptcy
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Nyloncraft to Settle Dura Claim
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Toyota Motor quarterly profit climbs 7.5%
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Auto Loan Defaults Newest Financial Meltdown
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Economy:

Economy Fitful, Americans Start to Pay as They Go
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Factory Orders Gain, Companies Cut Jobs
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Gasoline price top concern for consumers
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Emerging-Market Bonds Gain on Speculation of More Fed Rate Cuts
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Credit Managers Index Drops To Record Low
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Americans' view of economy souring
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What really happens when the U.S. sneezes
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Finance Company Receivables Shrink Again
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Bankruptcy Statistics:

Bankruptcy Filings Rise 30% in January
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Furniture:

Furniture retailer Wickes files for bankruptcy
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Wickes to seek $30M DIP
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Corporate Reform:

SEC to review fraud allegations in Qwest case
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Former Banker Convicted of Insider Trading
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Sun-Times Says Conrad Black Owes It $60 Million For Fees
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M&A:

Credit squeeze threatens to crush buy-outs
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Is M&A Dead?
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Done Deals in Distress
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Health Care:

Buyer of Bayonne Hospital to Pay U.S. $2.5 Million to Resolve Allegations of Medicare Fraud
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Point Therapeutics may file for Chapter 11
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Bayou Creditors Win Right To Investigate Goldman Sachs
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30 of 125 potential jurors dismissed in National Century fraud trial
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Layoffs:

Announced job cuts way up in January
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Livermore lab to offer hundreds of buyouts
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Food/Drink:

Another credit crisis victim - wine prices
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Student Debt:

Middle-Class Tuition Assistance
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Northwestern U to Replace Student Loans with Grants
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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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Aviation:

Judge OKs MAXjet Auction
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Silverjet Shares Plunge as Airline Fills Half of Its Seats
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United to begin charging for a second checked bag
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Northwest, Delta merger appears closer
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Delta may fly away from deal talks
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Judge Allows Unusual Auction for MAXjet Airways
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Mining:

Asarco Plans Chapter 11 Sale
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Asarco Looks to Sell All Assets, Holds Talks With Six Bidders
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Shipping:

Summit Global Logistics Receives Court Approval on 'First-Day Motions'
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Accounting:

FASB says no to accounting relief for questionable mortgages
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Education:

Students left in cold as helicopter flight school shuts
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Charter School Closes With Little Warning
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Awards:

Peter Gilhuly Named To American College of Bankruptcy
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Horse Racing:

Odds are, dispute over racing franchise could go on and on
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Hedge Funds:

Goldman Sachs Could Take Some Heat for Bayou
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Chemicals:

Lenders' pullout endangers Solutia
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Bankruptcy Crimes:

Bankruptcy Crimes: Will we see more of this in the future?
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Retailing:

Hancock Fabrics reports $1.6 million loss
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Ratings Agencies:

Moody's Weighs Warning Labels
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Credit Cards:

Solidus cleared to sell units
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Distressed Investing:

Shopping For Distressed Companies
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UK:

Virgin Reduces Northern Rock Bid as Olivant Drops Out
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Hedge fund RAB backs Northern Rock's in-house management team
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Northern Rock submits proposal to remain independent
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Missing Olivant
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A bid means hard labour: breaking Rocks
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Who stands a chance against Sir Richard Branson?
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Subprime loans a mere 6% of UK market
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London Luxury-Home Prices Climb Most in Four Months
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France:

French Banks Face Money Laundering Trial
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Japan:

Economic slowdown may mire Hitachi, Sanyo turnarounds
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Netherlands:

Linklaters launches Dutch insolvency team with Simmons hire
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Canada:

Would-be bidders turn their backs on Quebecor World
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'Freight train' of law grads on horizon
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