January 17, 2008

Daily Bankruptcy News

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Law:

Restructuring leads US lateral round in early '08
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Kirsten Wolf, Law School Naysayer
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Large Firms Pay Many Texas Associates Bigger Bonuses
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A Contrarian Bounce?
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Linklaters breaks bank litigation taboo
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Law Firms Are Subprime Casualties Too
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Bankruptcy lawyer hiring predicted to rise (scroll down)
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Cozen O'Connor Forms New Practice Group to Address Credit Market Crisis
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Dream court for American business
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Judge Orders Libya to Pay $6 Billion for Airplane Bombing
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Pitching to a Prospect and Getting Your Ducks in Order
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Quinn Emanuel: john quinn's state of the firm address
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Firm Can't Keep Referral Fees Owed to Lawyer Who Has Been Disbarred
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Crowell & Moring Wins Clients $6 Billion in Damages Over Airliner Bombing
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Firm Headed Into Troubled Waters With Claims It Bribed Employees of Defendant
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Case case claims firm failed to act
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Players still after Nifong's assets
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Two Senators Target Judges' Junkets, Tie Pay Raise to Stricter Rules
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O.J. Simpson Gets Bail, But Judge Doubles It to $250,000
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Cadwalader Associate Among Those Bucking Trend, Having a Baby Before 30
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Translating reinsurance
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London Calling
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Fed. district judge facing sexual harassment allegations loses all criminal cases
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The Wild World of Law Firm Business
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Second-Class Treatment of Law Firm Staff
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Say What?!
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Bonds:

Ambac Will Cut Dividend, Raise $1 Billion in Capital
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MBIA's Capital Need Grows, Credit-Default Swaps Show
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Moody's, S&P Reviewing Bond Insurers as Losses Mount
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A Bond Insurer Ousts Its Chief After Taking a Big Write-Down
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Aviation:

AMR Loses Altitude
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American gives workers $67 million
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Delta, Northwest Chiefs Tell Employees Mergers May Be Needed
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Seven Deal-Breakers for a Big Airlines Merger
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Delta merger likely to get government OK, experts say
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Lawmaker won't back Northwest-Delta merger
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US Airways on the Outside Looking In
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Fuel costs could 'wipe out' US airline profits
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Continental reports profit
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Unions prep for possible NWA merger
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Go! lost $19.8M in its first 16 months
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Hedge Funds:

Basis Fund Loses Bankruptcy Bid
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Cayman Islands hedge funds face US bankruptcy law author in court
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Another hedge fund's Chapter 15 bid fails
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Basis Yield creditors suffer setback
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Bankrupt Ritchie Capital Management hedge funds sell assets
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Ritchie wants involuntary dismissed
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Mining:

Copper-miner Asarco says parent firm delays filing of Chapter 11 plan
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Wall Street:

Citigroup sees $15 billion writedown at Merrill
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Merrill Writes Down $14.6 Billion
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Merrill Writes Down $11.5 Billion
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Merrill loses $9.8 billion in Q4
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Aid to Merrill Looks Better
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After Bumpy Ride, Shares Lose Ground
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Stocks May Open Lower
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Recession fears send European shares to 16-mth low
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Russian stocks have worst 1-day loss in 20 months
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Mexico's Bolsa Plunges on U.S. Growth Concern
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World markets collapse
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World equities heading for bear territory
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Autos:

Did Lax Standards Fuel Auto-Loan Defaults?
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Are car loan lenders about to get crushed by bad loans?
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Ottawa, Ontario lock horns over aid for auto sector
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Creditors OK Delphi's bankruptcy exit plan; hearing Thursday
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Lear prepared to lay off 150
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Feds cool Ford's hopes
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Chemicals:

Solutia reaches settlement with certain noteholders
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Real Estate:

Countrywide Says Helped Avert 81,000 Foreclosures
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Clinton slams Countrywide CEO Mozilo's pay
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Meet the new Ken Lay
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Housing Starts Hit 16-Year Low
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Will the "Real" Anti-Foreclosure Mr. Paulson Please Stand Up?
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Delta Financial Aims to Halt Lawsuit
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American Home Unveils Fresh Woes on Expenses
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The Mortgage Mess, Apartment Division
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Americans Pay for Housing Boom's Excess
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Fieldstone Seeks to Pay $1M in Bonuses
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Home builders' mood slightly less gloomy
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First Magnus Can Sell Loans for $5.3M
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Homebuilder faces lending deadline
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WCI Communities Sinks On Bankruptcy Fears
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Icahn's WCI Reaches a Tipping Point
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TOUSA misses debt payment
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NovaStar's run on NYSE ends on down note
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Indymac shares climb on lay-off plans
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Condo Meltdown
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Flat Housing Market Adds to Tax Pressure
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Mortgage meltdown: Now the rents
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Bill Clinton says feds need to help cities bail out homeowners
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Lasting Housing Woes Paint a Grim Economic Picture
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Foreclosures straining housing counselors, economy
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IMF warns subprime crisis losses 'may be higher'
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Mortgage jobs take hit in 2007
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Can Kimball Hill save itself?
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WCI Gets New Lifeline As Lenders Relax Debt Agreements
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New chairman credited for WCI solvency deals
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Grip on Freddie, Fannie May Ease
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Over-Indebtedness, Predatory Lending, and the International Political Economy of Residential Home Mortgage Securitization: Comparing the United States' Subprime Home Mortgage Lending Crisis to Home Finance in the United Kingdom, Germany, and Japan
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Economy:

Wholesale inflation last year shot up by the largest amount in 26 years
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Inflation Rate Worst in 17 Years
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The Education of Ben Bernanke
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Bernanke Aims to Avoid Greenspan's Stimulus `Regret'
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KC Fed chief: No recession yet
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It's official-CEOs are worried
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Inflation Slows, Production Unchanged
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US Sen Schumer: Bernanke supports fiscal stimulus
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Washington says it wants to jump-start economy
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Dems, GOP to huddle on stimulus
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Upstate NY facing economic storm
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Beige Book sees slow growth in most regions
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Food/Drink:

Interstate Bakeries says no suitors came forward
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Twinkies maker has no buyout plan from Yucaipa
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Software:

High-stakes trial set for SCO v. Novell lawsuit
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Corporate Reform:

Ex-Brocade CEO Sentenced to 21 Months
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False Affidavit Gets Brocade's Former CEO an Extra Six Months in Backdating Case
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Insider Trading: Defense Bar's Next Growth Stock?
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GAO Asked to Probe Corporate Monitors
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Lumber:

Another Palco plan hatched
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In Lumber Town, School for Sale
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Retailing:

Sears Isn't Where It Should Be
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Urban Mall Houston set for sale
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Big A Drug sells six store leases
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Bankruptcy Statistics:

Maine bankruptcies up
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Horse Racing:

NYRA settles with horsemen
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Payroll Services:

Axium's assets attract buyers
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Show Biz Payroll Firm Execs Accused Of Massive Fraud
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Enron:

Enron Shareholders Could Get Chance to Distinguish Stoneridge
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Chapter 13:

Timely Filing in Chapter 13 Bankruptcy Cases: Does Rule 3002(C)'s Deadline Apply to Secured Creditors?
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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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Default rates to rise fourfold warns Moody's
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Bankruptcy Reform:

Bankruptcy Bill Could Increase Rates By Up to 2%
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Mortgage bankers urged to oppose Dodd bill
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Clinton, Edwards, and Obama on 2005 Bankruptcy Law
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Politics:

A Bankrupt Answer
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No debate on bankruptcy
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Hillary's modest proposal (to wreck the housing market)
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Banking:

A Growing Foreign Stake in US Banks
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An Effort to Stem Losses at Citigroup Produces a Renewed Focus on Risk
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Citi deal versus bank mergers of old
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Banker of America
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Regional banks the next crisis?
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Banks seeing higher delinquencies on more than just mortgage payments
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Deutsche Bank Set to Cut 250 to 300 Jobs, Person Says
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Bank Of NY Mellon Profit Falls
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Credit Woes Weigh on Banks
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Banking Bust: More To Come
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JPMorgan Surpasses Citigroup in Market Capitalization (Update1)
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US Bancorp Unfazed by Credit Crisis
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UBS ends secrecy for US clients
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Health Care:

Florida MRI Provider Files for Ch. 11
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AREI units say ombudsman rule doesn't apply
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Segal Releases Study of Retiree Health VEBAs
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Senate Democrats call for nursing home reports, more staffing
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Weight-loss company goes belly up
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Predatory Lending:

N.H. House adopts 36% interest cap on payday loans
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Credit Cards:

It's A Creditor's Most Wonderful Time Of The Year
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Student Debt:

Credit woes hit student loans
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Pressure on young to earn more
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Mass Torts:

Joey Langston, big fish
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Pensions:

The End of Retirement
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Forest Products:

Pope & Talbot to Pay Breakup Fee
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Manufacturing Company files for Bankruptcy
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Environmental groups want Palco
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Gambling:

$3 billion casino project faces foreclosure in Vegas
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Trouble brewing?
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Default Shows Property Crunch
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Media:

Denver Radio owes millions
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UK:

Government's court order plan will allow people in debt to keep their creditors at bay
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N Subscription Required)

Northern Rock has exposed the reality of the free market
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Sports Cafe in administration
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Luton club talks to potential buyer
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Luton Town deal struck as manager fired
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Canada:

Quebecor World shares plummet after printer misses bank deadline
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Quebecor World extends deadline
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Tahera Diamond filing for creditor protection
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Creditor protection extended for TQS
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Cash-flow crisis slams another logger
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EU:

Euro Declines as ECB's Mersch Says Risks to Growth Increase
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Japan:

Japan unnerved by latest subprime fears
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Finland:

Stora Enso to cut 985 staff
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