June 16, 2008

Daily Bankruptcy News

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Law:

Ex-Bankruptcy Judge to Represent Lenders
(WSJ: separate paid subscription required)

Economic slide means bankruptcy business rising
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Milberg Plea Deal Includes Admission of Stockbroker Payments
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Russert's Legal Legacy
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Clients Rap 'Unsustainable' Plan to Raise Billable Rates
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Annual Revenue Grows 13 Percent for Top UK Law Firms
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Bankruptcy bucks: Somebody's making money off down economy
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Stanford Law Drops Letter-Grade System
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Judge Rejects Lerach's Request for Residential Alcoholism Program
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What Summer Associates Should Do During an Economic Downturn
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The Daddy Track
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The Top 10 Habits of Successful Firms
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US Has More Artists Than Lawyers
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K&L Gates bags Bear Stearns managing director
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Mental Disorder or Good Lawyering?
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U.S. Attorneys Probe Advances
(WSJ: separate paid subscription required)

Fleeing Thacher Proffitt Lawyers Cite Bleak Financial Forecast
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Man Condemned to Die Tuesday Claims Trial Judge, DA Had Intimate Relationship
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Leadership Shakeup at Pepper Hamilton
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Courts Putting Hot-Button Words on Ice
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E-Discovery Tips From the Bench
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Courting a Superstar Job Candidate on Stage
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Woman Gets 5 Years for Branding Ex-Lover Over Failure to Phone
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Lawyers Rock: Well, One Rocks and One Owns a Pretty Cool Coffee House
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US blogger charged with insulting Singapore judge
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Say What?!
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Judges:

Kozinski Declares Mistrial in L.A. Obscenity Case
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As Emails Show, Ribald Sense of Humor Is Signature Kozinski
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Risque Images, Music Tied to 9th Circuit Chief's Site Raises Ethics Questions
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Kozinski: L.A. Times Edit Says 'So What?' Kozinski on Judging Judges
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Alex Kozinski's Wife Speaks Out
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Nothing is private
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Economy:

Despite hawkish talk, Fed rate hikes not done deal
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Consumer confidence hits 28-year low in June
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Policy makers watch for new signs of inflationary pressure
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G8 sees rising inflation threat
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Saudi King: 'We will pump more oil'
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Oil hits record near $140 on dollar
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The Fed, the dollar and wider price concerns
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Inflation report is grim picture
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Bust is boom for some
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How Much Inflation Will We Have to Endure?
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Wall Street's Fed Window: Permanent or Temporary?
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Paulson, Darling Face 'Stagflation' Risk on Oil Price
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Mass Transit:

Bus travel on the rise
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Insider Compensation:

CEOs' pay rises as economy struggles
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Pensions for execs test new heights
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Obituaries:

Willard Hatch, 88, bankruptcy lawyer
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Printing:

A new chapter for Quebecor
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Pensions:

NJ Pension Crisis Going National
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Turnarounds:

A history of skilled turnarounds
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Corporate Reform:

SEC proposing tougher disclosure laws for financial advisers
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Suits Accuse EADS of Insider Trading
(WSJ: separate paid subscription required)

J.P. Morgan Official Held in Dubai
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Mass Torts:

Asbestos payouts slow going
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Fen-Phen Lawyer Defends Deposit of Settlement Funds Into Personal Accounts
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Trucking:

Truckers getting double blow
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Auctions:

The Big Business of Property Auctions
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Banking:

Barclays Considering Share Issue
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Brown Says Iran's Bank Melli Headed for Asset Freeze
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Europe's Banks May Write off 9.7 Billion Euros
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The Good, The Bad, And The Clueless
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Agriculture:

Flooding in the American Midwest threatens crops
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Telecoms:

Hedge fund scolds Icahn over XO
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Buses:

SCL to ask to tap cash collateral
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Credit Counseling:

'Debt Consolidators' Face RICO Complaint
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Bankruptcy Research:

Liquidation Values and the Credibility of Financial Contract Renegotiation: Evidence from U.S. Airlines
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Real Estate:

The battle for mortgage relief
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Bill Aimed at Mortgage Crisis Stalling in Senate
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U.S. foreclosure activity jumps 48% in May
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LV: City Crossing mixed-use project files for bankruptcy protection
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Bankruptcy judge to appoint trustee for Cedar Funding
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Dunmore seeks plan confirmation - 1% dividend
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Court probes bank's role in builder's bankruptcy
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Magnus execs back in lending business
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Hard times for Merco Group
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Common foreclosure rescue scams
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Military towns seeing foreclosure rates four times the national average
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Judge allows foreclosure of Boston Hill
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Former DHS golf resort developers file bankruptcy
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Kentucky foreclosures jump 46.1%
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It's time for lenders to be held accountable for tactics
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Swapland
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The Trouble with Florida Real Estate: Foreclosure Backlog
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Sub-Prime Mortgage Fiasco Explained - Using Stick Figures
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Mining:

Rival bid queers Sterlite pitch
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Judge to rule on Sterlite-Asarco deal by July 2
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Judgment in Asarco multi-billion-dollar Grupo Mexico lawsuit could take months
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In Asarco, setting the record straight translates into name-calling
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Vedanta Push for Asarco Hits Bump in Court
(WSJ: separate paid subscription required)

Top Asarco bidder was also accused of pollution
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Grupo Mexico-Asarco bid: What's ahead for Sterlite?
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Wall Street:

Nearly Half of Wall St. Bank Profits Are Gone
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Investors hit $10bn loss in US financials
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Charges May Come Against Ex - Bear Stearns Execs: Report
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After the shake-up, the pressure is now squarely on Lehman's Fuld
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Lehman's woes aren't over yet
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Wall St Set to Open Flat; Lehman on Tap
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German Stocks Erase Gains
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Most European Stocks Rise
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Aviation:

Midwest Airlines explores restructuring plans
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4000 Delta workers take buyouts
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Labor Relations Darken at Hawaiian Airlines
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Bankruptcies seen for major airlines
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Another leg in airline race toward Chapter 11
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Air fares up, but airlines feel more pain
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First Class nothing but a memory
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FAT's right to fly may soon be revoked
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Silverjet sale fails
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Silverjet Update
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Insurance:

AIG Replaces Chief Sullivan With Willumstad After Record Losses
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SEC, Justice probing whether AIG plumped up value of swaps
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AIG CEO replaced amid subprime woes
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Willumstad Says `Nothing Off Table' in Plan for AIG
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D&O Insurance: A Criminal Sentencing Factor?
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Retailing:

Costco, Wal-Mart Lead a Consumer Revolution
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Clothing chain seeks Chapter 11
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Goody's optimistic about reorganizing
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Hilco nets Goody's store closing sales
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Dawahare's can use collateral
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Sharper Image gift cards not worth much
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Autos:

Strikebound car hauler says it's ceasing operations
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Black Diamond to abandon PTS
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Plastech names lead bidders for assets to be auctioned
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Bids for Plastech units reach $200M
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Ex-auto dealer bankrupt
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Judge says blockade of GM HQ must come down Monday morning
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Creditors looking at tapped-out Centrix Financial
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Can Global Automakers Learn From Their Mistakes?
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Health Care:

Health Insurance is No Guarantee
(WSJ: separate paid subscription required)

Private equity firm to buy Haven Healthcare
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Natchez Regional no longer pursuing LTACH
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Class Action Suit Filed Over Medical Bill Collections
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RVs:

Fleetwood cuts more than 400
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Bankruptcy Statistics:

NY: City's commercial bankruptcies soar
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Bankruptcy filings more than double in Sacramento Valley
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Finance:

Small Firm Lending Pace Up in 2007
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Leveraged loan backlog shrinks - but buyers still calling the shots
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Morality:

Have We Lost the Moral Values That Undergird a Commercial Society?
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Rating Agencies:

Now S&P says it's uncovered a glitch in its CPDO ratings too
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SEC preparing to lasso credit rating agencies
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EU set to crack down on rating agencies
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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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Politics:

Conrad Says Countrywide Waived Point on His Mortgage
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Obama proposes tax boost
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No financial crunch for Senators
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Municipalities:

S. Fla. cities may reexamine pension payouts
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A sign of the times in Bankruptsville, USA
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Vallejo Nears Deal On VRDBs
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Vallejo Policeman Raps About City's Financial Troubles
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Bankruptcy Litigation:

Derivative Claims: They're Not Just for Shareholders Anymore
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Hockey:

Del Biaggio criminal probe looks at NHL deal
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Metro postpones default action in Del Biaggio mess
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Food/Drink:

Judge mulls LeNature's case
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Economy Raises the Heat in the Kitchen
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Global Wine owes 85 creditors, reports $8.67M in liabilities
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Mrs. Fields Warns Of Bankruptcy, Halts New Franchise Sales
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QSF can sell 18 restaurants
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Gambling:

Struggling Rhode Island slot parlor faltering under debt
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Fearing bankruptcy, Twin River asks RI for a break
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Education:

Schools close, but students still pay
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Forest Products:

Minn. investment firm buys shuttered Oregon mill
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Theme Parks:

Bank buys back Zoomers in foreclosure sale
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Celebs:

Colony Capital serenades Michael Jackson
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Sing or we take the house
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Examiners:

Ex Appeal
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Tax:

U.S. Seeks Swiss Help in UBS Probe
(WSJ: separate paid subscription required)

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Hedge Funds:

Hedge Fund Manager Cleared of Fraud Charges
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Ritchie funds can liquidate
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M&A:

Frontline offers liquidation plan
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Corporate acquirers line up for M&A buffet
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Rule Makes Execs Think Twice About M&A
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Debt Picture Clouds Private Equity
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Newspapers:

McClatchy to cut 10 percent of work force
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Credit Cards:

9 big myths about credit cards
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UK:

Prediction of insolvencies rises by half
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Property chiefs to target stricken developers
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Fuel crisis sparks fishing lay offs
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Housing market 'could take years to recover'
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Angel Trains 'A' Rating On CreditWatch Negative Following Sale
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UK firms laid back about fraud, claims survey
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E&Y mobilised to save furniture chain
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BDO: business busts at record high since 2002
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Canada:

Court grants bankruptcy extension for three former Pope and Talbot mills
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Mistral Pharma Files a Notice of Intention Under Bankruptcy and Insolvency Act
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SCOC to hear arguments on the biggest corporate-commercial case ever to reach the top court
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Canadian watchdog bites Remstar
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Malaysia:

Malaysia Faces Bankruptcy If Oil Subsidy Continued
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Italy:

UBS, Credit Suisse pay $548M to settle Parmalat claims
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Parmalat Rises on Settlements With UBS, Credit Suisse
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Japan:

Japan Downgrades Economic Assessment as Profits Slow
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Poland:

EU threatens Poland shipyards
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Czech Republic:

Bankruptcy numbers in CzechRep up 9% annually
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EU:

European Inflation Accelerates to Highest in 16 Years
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Netherlands:

Qwest wins battle over venue
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