January 30, 2008

Daily Bankruptcy News

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Law:

Bankruptcy's Back On
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Bankruptcy Allegations Move Forward Against N.Y. Law Firm
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Are Senior Associates Making More Than New Partners?
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Layoff Watch: Thacher Proffitt Relies on Voluntary Departures to Thin Ranks
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Bonus Watch: Morrison & Foerster (non-New York)
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Two-Year Term Sought for Lawyer in Milberg Conspiracy
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Plaintiff-for-hire sentenced; A retired lawyer gets home detention in the Milberg Weiss case
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Escape From Arnold & Porter
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U.S. Attorney Mess: Is DOJ Hindering the Investigation?
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D.C. Law Firms Have Highest Per Capita Receipts
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A glimpse into one week in the life of a $1,000-per-hour lawyer
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Statute of Limitations Could Decide Former Client's $20 Million Suit Against Morgan Lewis
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The Annual Hildebrandt/Citi "Client Advisory:" Glass Not Half Full
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What's Up For 2008?
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2008 Legal Business Forecast Panel
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What Women Lawyers Really Think of Each Other
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Despite Tough Year for BigLaw, Firm's Revenue Surged, Chairman Says
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Lerach Prison Time Debate
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Lawyer of the Day: Joseph Romito
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Nifong off the hook for now
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Former Hollywood Studio Lawyer and His Wife Sentenced for "Modern-Day Slavery"
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Protecting Client Confidentiality Over WiFi
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Taming the Billable Beast
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Kirkland & Ellis Expands Into Silicon Valley
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Can a Sandwich Be Slandered?"
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Getting What You Deserve
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Molester Seeks to Renew Law License, Admits to More Victims
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Pregnant Lawyer Pleads to Faking Abduction; May Face More Charges
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Dechert Posts Nearly 15 Percent Hike in 2007 Revenues
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Fraud:

Rogue Trader becomes national hero in France
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No fraud charge over £3.7bn loss
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Watchdog's SocGen tip bypassed German regulators
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Fears over rogue trader 'raised 3 months ago'
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French Trader Says SocGen Was Complicit
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SocGen defends board member's share dealings
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Sarkozy Says Societe Generale Executives Share Blame
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Kerviel-Like Trading Seems So Easy
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French market regulator opens investigation into Societe Generale
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France warns SocGen predators
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SocGen suicides put stress at work under the spotlight
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Why didn't banks learn from the Barings collapse?
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Food/Drink:

Wonder Bread plant owner files bankruptcy exit plan
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Interstate Bakeries gets OK to present reorganization plan
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IBC forges ahead with plan, faith
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Aviation:

JetBlue, AirTran, NWA post quarterly losses as fuel costs rise
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Italy crisis may speed up Air France-Alitalia talks
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Insolvent airline asks for assets to go under the hammer
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NWA trims loss for quarter
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House chairman gives 'hell no' vote to Delta merger
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Corporate Reform:

FBI Widens Net Around Subprime Industry
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2 Biggest Wall Street Firms Probed
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FBI targets 14 firms in subprime probe
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FBI and SEC investigate lenders
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Scrushy offers to put up $10M to secure release pending appeal
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SEC chides 350 companies for executive pay disclosures
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Fishing:

Salmon arriving in record low numbers
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Telecoms:

Bankruptcy Judge: Dell Director Must Pay
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Religion:

Diocese bankruptcy: Advisers looking for payment of $793,823
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Predatory Lending:

Shurtleff defends payday loan rates
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Gambling:

Bondholders Sue Tropicana for $960M
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Real Estate:

Countrywide buyout is 'a go'
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Home prices in 10 cities drop a record in Nov
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House to limit FHA expansion to 1 year
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Homebuilders face growing bankruptcy risk
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The Effect of Bankruptcy Strip-Down on Mortgage Interest Rates
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Kimball Hill negotiates for more time
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New Century asks to file plan by Feb. 21
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Bankruptcies Will Only Continue Rising
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Still no sign of housing market hitting bottom
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The next housing casualty?
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Case-Shiller home price index hits another record low
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ABX Implies $180 Billion More Subprime Writedowns
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Condo-hotel developers adapt in a cooling Orlando market
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Seattle foreclosures on rise, but slower than reported
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Florida is No. 2 for 2007 foreclosures
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Florida's big-time housing bust is a disaster for sellers, but it gives retirees and others a great buying opportunity
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Live Oak Developer Files For Chapter 11
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Foreclosure activity in New York state jumps 10%
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Alabama's foreclosures skyrocketed 82 percent in 2007
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2007 foreclosures up 150 percent in Arizona
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Top 10 States With Highest Foreclosure Rate In 2007
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Suburb's 'shattered dream'
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Judge rules Rezko will stay behind bars
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FirstEnergy wins Fremont auction with US$254m bid
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Capital Land gets Ch. 11 trustee
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Housing: the biggest scandal in four generations
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Key Dems want to fix mortgage market
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1031 Tax founder cries poverty
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Investors Look to Profit From Others' Misfortune
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Sub-Prime Solution?
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Bankruptcy Reform:

House Judiciary Cramdown Hearing
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Bankruptcy tweak can ease subprime woes, lawmakers told
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To slow subprime bleeding, fix unfair bankruptcy laws
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Mortgage Modification Bill: Mortgage Bankers Don't Get It
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Economy:

IMF lowers global economic growth projections for 2008
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IMF Forecasts Global Slowdown As US Provides Primary Drag
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Mountain meltdown
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Indicators signal turn for the worse
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Fed Plans To Make Another Cut.
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US January consumer confidence falls
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Fed likely to act again; overnight rate expected to dip to 3%
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Fed Talk: The Half-Percent Solution?
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House OKs tax rebates; Senate hatches variant
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Rescue in slow motion?
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Stimulus deal may not make it past Senate
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Toys:

Lionel Wins Court OK for CEO Pay
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Furniture:

Sources say Nationwide to liquidate
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Convenience Stores:

Future Of Tri-State Convenience Store Uncertain
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Politics:

Housing: Florida's Primary Concern
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Autos:

Challenges Await Dana After Chapter 11
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Rebound progress still lags for GM
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Delphi gives details on cuts to bonuses
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Honda's Net Rises 38% On Fuel-Efficient Cars
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BMW's sales rose 14 pct in 2007
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Buyouts Continue to Plague U.S. Automotive Industry
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Layoffs averted at Toledo Jeep as 635 accept buyouts, saving full-time jobs
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Internet:

Yahoo Profits Fall 23%, Cuts 1000 Jobs
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Bankruptcy Statistics:

Georgia No. 2 in rate of personal bankruptcies last year
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Security:

Firstline seeks protection
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Corporate Governance:

Overview of Key 2007 Decisions from Delaware's Chancery Court and Supreme Court
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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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Banking:

Bank of America upbeat on Countrywide, capital
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Credit default swaps: how to spot the riskiest banks
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Loan delinquencies rise sharply
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Banks still lending despite credit crisis
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Crisis inflicts fresh wounds, UBS cut deepest
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UBS Takes a $14 Billion Hit
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BNP Paribas Profit Falls 42% on Credit Market Slump
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Bonds:

Bond Insurers May Lose AAA Ratings Before They Get Bailout Plan
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Junk Bond Rising Spreads Signal Worst Bust Since 2001
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Berkshire Hathaway getting into bond insurance biz
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NY Gov working on fix for bond insurers
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Manufacturing:

Werner Co. Comments on Bankruptcy Trust's Lawsuit Against Owners of Former Company
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Chemicals:

Solutia agrees to pay $3 million over contamination
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Wall Street:

Goldman, Morgan Stanley Probed
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Morgan Stanley, Goldman working with regulators
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Stocks rise in Fed watch
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The economy is down but people on Wall Street aren't worried about their income
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Asia retreats on doubts about the depth of a Fed cut
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Radio:

Denver Radio gets new DIP
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Hedge Funds:

US Attorney Protests Bayou Ch 11 Plan
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Basis hedge fund valued at 2 cents in dollar
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The games hedge fund managers play
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Health Care:

Pharmed sells warehouse, office
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Bayonne tries to double sale price
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Horse Racing:

Guild Bankruptcy Stays in Kentucky
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Oil/Gas:

TrueStar requests auction sale
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Tax:

Wesley Snipes Tax Case Goes to Jury
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Snipes Trial Offers IRS Perfect Script
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Snipes lawyer admit's his letters to IRS were sometimes 'kooky'
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Auctions:

Christie's to officiate at Prosser auction
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Energy:

Former chairman, USES square off
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UK:

King gets second term at helm of Bank of England
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New protection for IVA customers
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More than 1m people could lose homes in credit crunch
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KPMG advised M&B on hedge catastrophe
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UK Treasury Seeks New Powers For FSA, BOE In Bank Crises
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Darling Asks for Power to Seize Troubled UK Banks
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Banks v Treasury
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Tories attack effort to 'undermine' Bank
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UK seeks new laws to stop another Northern Rock
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Bank to mount undercover bail-outs
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Tax payers in 40% band almost double
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Canada:

Federal Gypsum back in court today
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EU:

European govt bonds turn lower ahead of Fed decision
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Europe's Enron moment has arrived
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Australia:

Good Government (Under Threat) Down Under
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