July 22, 2008

Daily Bankruptcy News

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Law:

In-house counsels push back on large legal bills
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McGuireWoods Adds Bankruptcy Partner
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McAfee Sues WilmerHale Over $12 Million in Legal Fees
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Don't Wear Flip-Flops . . . And Other Advice for Summer Associates
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Why Splitting a Summer Isn't a Good Idea
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How is Summer Going -- Assessment/Finish Strong
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Lawyer Who Dropped His Pants to Leave Covington
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The Cravath System and the Demise of Large Firm Business as We Know It
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Patton Boggs Leads In Lobbying Revenue
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The Mortgage Meltdown: Fannie, Freddie Looked Inward for Help
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The Bi-Modal Starting Salary Distribution
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Bait-and-Switch by Law Firms Proposing to Handle Your Work
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Microsoft to pay law firms bonuses for reducing the number of white men on staff
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Holland & Hart launches subprime-mortgage practice
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New Leader, Challenges for Holland & Knight
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Goodbye to an Iconic BigLaw Name?
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Labaton's Newest Bid to Lead Major Securities Fraud Action Rejected
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Are These the 25 Greatest Legal Movies?
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Chicago Lawyer Bidding for Cubs Ownership
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Autos:

Ford Expands Buyout Offers to Most of Its US Plants
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Ford to Make Broader Bet on Small Cars
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GM Dealers Buying Stock
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Broad work-force cuts at Dana under study
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DynAmerica to seek interim use of DIP
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Politics:

Trustee Looks To Reopen Terrill Bankruptcy
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Retailing:

Mervyn's: Next on the retailers' bankruptcy list?
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Mervyns faces financial squeeze
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Mervyn's might fold -- but its new owners still would profit
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Mervyn's and the end of the regional retailer
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Urban Behavior operator wins DIP OK
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What's with Steve & Barry's and why should we care?
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Oil/Gas:

Moody's cuts SemGroup's rating deeper into junk
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Lenders Take Control of Trouble SemGroup Energy Partners
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SemGroup Energy jumps 20% on news parent company taken over
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Roy Jacobs & Associates Announces Investigation of SemGroup
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Concert Venues:

Bank wants independent control established at Double JJ Ranch
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Derivatives:

Deadline looms for assurances on risks purge
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Diamonds:

Court orders Tahera to put $2M in trust to pay suppliers' claims
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Food/Drink:

Fortress makes offer for some Buffets restaurants
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Corporate Governance:

Chancery Decides Whether Investment Was Loan or Equity
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Hedge Funds:

Cerberus Plagued By Horrible Investments in Chrysler and Mervyn's
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Bonds:

Assured Guaranty, FSA Ratings May Be Cut by Moody's
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Dexia Plunges as Moody's May Cut Bond-Insurance Unit
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Wall Street:

Stocks look to fall Tues.
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Short Limits Cause Few Snags
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Markets Fizzle Monday Amid Dim Outlook
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More Charges Possible in Bear Case
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Student Debt:

The Headaches of College Debt
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Care Needed in Lending to Students
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Municipalities:

Economy hobbles Calif. town
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Jefferson County Readies Sewer Debt Plan
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RVs:

Economy slams brakes on Winnebago
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Layoffs:

Stay Calm, Get Organized After Layoff News
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Silicon Graphics reports job cuts totaling 7 percent of workforce
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M&A:

KPMG Predicts Slowdown in Global Mergers and Acquisitions in 2008
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PE-backed bankruptcies
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Real Estate:

Pimco's Gross Says Fannie, Freddie Need Treasury
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Paulson: 'Months' for Bulk of Housing Correction
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Fannie, Freddie May Record More Losses, Ofheo Says
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Fannie, Freddie books under inspection
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Bush Prods Congress, as Financers Are Inspected
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Leading the Fannie and Freddie rescue is a government novice.
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Lawmakers move to curb Fannie Mae, Freddie Mac pay
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Single-Family Housing Starts Down 64.5% From Peak
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BofA Keeps Countrywide At Arm's Length
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BofA's Countrywide deal could be a steal
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Bankruptcy judge approves Prudential Americana plan
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Donald Trump's licensing lawsuit can move forward
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Expect near-record office vacancy rates in 2009, says Grubb & Ellis
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U.S. CMBS Delinquencies Rise Slightly on Office & Retail Weakness
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Landcraft projects in bankruptcy
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Dems Hope To Add $3B To Housing Bill
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A housing rescue nears - but for whom?
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US House Panel To Focus On Foreclosure Prevention Efforts
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WaMu Shows Paulson Mortgage Rescue Plan Is Perilous
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WCI Buyer Hoax?
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Bankruptcy strands escrow docs
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A look at EnCap
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Lake Las Vegas lawyer queried on loan
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Thornburg Offers Potential 37% Profit for Preferred Investors
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1000s of Criminals Worked in Florida Mortgage Industry
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In Phoenix, Distressed Home Sales Cause a 'Mini-Boom'
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Eagle Creek lender wants probe
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Economy:

US Economy Defies the Gloom in Past Quarter
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Credit card usage, bankruptcy rise with the prices of food, fuel
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Dollar Falls as Leading Indicators Show US May Weaken Further
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Poor Economy Slows Women in Workplace
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For commuters, economic woes pile up
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UST:

Bankruptcies Again Subject To Audit
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Aviation:

FedEx pursues lawsuit against bankrupt ATA
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River of red ink expected at United
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Small airline calls it quits
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Judge gives Frontier time to decide on leases
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Frontier, United eliminating more jobs, departures
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Airline to Cut 1300 Mechanic Positions
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As Travel Costs Rise, More Meetings Go Virtual
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Plane leasers take advantage of high fuel cost, uncertainty
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Don't Take a Flier on Airlines
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Credit crunch takes its toll on aviation financing
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US carriers face grim outlook
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Kitty Hawk turns in its wings
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Gemini wins final OK for DIP
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Hostility at the Gate Makes for a Wary Crew
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British Airways, Ryanair Estimates Cut at Merrill
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Trucking:

IdleAire being sold
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Resorts:

Agassi terminates contract to buy at Idaho resort
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Bankruptcy Sales:

Steelers two Super Bowl rings bring $66000 on eBay
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Debt Collection:

A New Shakedown?
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Furniture:

Norwalk suspends manufacturing
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Credit Cards:

Warren: Credit Card Promises
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American Express Profit Falls on Higher Defaults
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Some credit card fees are hard for consumers to fathom
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Ex-con, lawyer sues AmEx, says it aided search for him
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Critics Detail Ills of 401(k) Debit Cards
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The number of consumers with low scores searching for "credit cards" is way up this year
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Health Care:

Lessons of AHERF resonate today
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UnitedHealth Group Profit Falls 73% as Costs Rise
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Predatory Lending:

Group says bank overdraft fees rival payday loans
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Labor:

Recession-Proof Jobs
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Bankruptcy Reform:

New Bankruptcy Law Hurts Consumers and Lenders, Report Finds
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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 Statistics:

Commercial Bankruptcies Up 45 Percent in First Half of 2008
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Personal Finance:

The Culture of Debt
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Boating:

Olympic Boat Centers files for bankruptcy protection
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Slow boating industry leads to layoffs at Four Winns
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Consultants:

Alpesh Amin Joins MorrisAnderson's Chicago Office as Consultant
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Mining:

Lawmakers urge that Asarco be kept out of Grupo Mexico's control
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Asarco discloses bankruptcy schedule
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Banking:

Wachovia Has Record $8.9 Billion Loss, Cuts Dividend
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Wachovia exits wholesale mortgage lending business
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FDIC in court dispute over subprime loans
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BankAtlantic sues analyst, firm for defamation
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Banks and the 'Bove problem'
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Talkin' Defamation with Gibson Dunn's Ted Boutrous
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Banks' Answer to Crisis? Shoot the Messengers
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First National looks to raise $200 million in fresh capital
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SunTrust Profit Declines as Borrowers Fall Behind
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8,500 U.S. banks; many will die soon
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Alternative Energy:

Millennium Cell goes under
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Ethanol plant construction at a standstill, but plans remain
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Ship Building:

Bridgeport shipyard seeks bankruptcy protection
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Cruise Industry:

Royal Caribbean cuts 400 jobs
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Horse Racing:

Bankruptcy emergence slow going
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Cross-Border:

Cross-Border Nuances in Bankruptcy Law
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Personal Bankruptcy:

Anatomy of a Bankruptcy: Too Much Credit, High Fees, Bad Breaks
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"No Conversion from 7 to 13" U.S. Supreme Court Tells Debtor Who Hid Assets
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Distressed Investing:

A familiar ring
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Utilities:

City lawyers say EPA may sue Akron Thermal
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UK:

Darling Says Global Credit Crunch `More Profound' Than Expected
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Sharp rise of companies in administration
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UK Treasury Will Delay Legal Powers to Seize Failing Banks
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Ernst & Young could face unlimited fine for Equitable Life
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Landlords risk losing half their rental income
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Canoeist wife case deemed 'unusual'
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Enterprise Falls Most Since 1995 on Profit Pressure
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80% fear we are heading for recession
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Eight-fold increase in companies on the ropes
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UK taxman closes in on 300 wealthy Britons
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KPMG gets court order to question Unwins director
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Australia:

Australia's Annual Inflation Probably Accelerated
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New Zealand:

Bridgecorp's Petricevic wants Porsche back as receivers search for him
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Canada:

Canada's PSP Investments Takes 23% Writedown on ABCP Holdings
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Shermag creditors face Sept. 5 deadline
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Church abuse victims still seeking payment
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Japan:

Japanese Bonds May Fall on Inflation Concerns
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SBI Holdings Shares Plunge After Zephyr Bankruptcy
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Japan real estate stocks fall after Zephyr collapse
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Spain:

Real Estate Crisis Threatens Spanish Economy
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Korea:

S. Korean economic trends similar to 1997 crisis
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