June 24, 2008

Daily Bankruptcy News

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Law:

What Holds Unhappy Lawyers Back From Leaving?
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Makar batting 1.000 in front of Supreme Court
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Fudge the Truth When Answering Summer Associates' Questions
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Summer Associates at Firm Blog About their Experience
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A Disturbing Litigation Strategy
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Michelle Obama's Sidley Austin Years
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What Minority Lawyers Can Learn From Barack Obama
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Barack Obama and the Harvard Law Review
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Merger Between K&L Gates and Kennedy Covington Given Thumbs Up
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Husch Blackwell Sanders Grows Again,
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Meeting of the minds results in merger
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Former DOJ'ers Urge Congress to Shore Up Attorney-Client Privilege
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Naked Cowboy Rides Off With a (Partial) Win
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Greedy or Unsophisticated? Opposing Arguments Paint Differing Portraits of Fen-Phen Lawyers
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Lawyer's Failed Gamble on Paralegal's Honesty Seen as Sign of Embezzlement Surge at Firms
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Judge Scolds Lawyer for 'Verbal Assault' of Opposing Counsel
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Judge Voices Doubt on Bush's Immunity Claim for Aides
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'Fast Fifty' Tracks U.K. Firms' Top-Growth Sites
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Division of spoils
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13 Years, 10 Judges and 16 Lawyers Later: No Divorce Settlement
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Say What?!
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Judges:

In Face of Probe, Judge Kozinski Hires K&E's Mark Holscher
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The Material from Judge Kozinski's Website/Server -- Part Two
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Three Lawyers Indicted in Court Scandal; Ex-Judge Implicated But Not Charged
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Foul-Mouthed Harangues Put Judge in Hot Seat
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Awards:

Morris Nichols' Bankruptcy Practice Earns Top Tier Ranking In Chambers Usa 2008
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Oil/Gas:

Speculators Are Largest US Oil Contract Buyers
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Gas could fall to $2 if Congress acts
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Calls for crack down on oil speculation increase
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Oil speculation in House crosshairs
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Why the London loophole should be closed
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Obama calls for 'Enron Loophole' to be closed
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Troubled director peddled Onco shares
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Autos:

Michigan: Epicenter of Unemployment
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GM Cuts Truck Production, Adds No-Interest Financing
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GM hires Citi to assist in Hummer review
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GM Slates Sweeping Rebates
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GM to Offer No-Interest Loans of as Long as 6 Years
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Worrisome days for Detroit Three automakers
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Chrysler e-mails underline need for change
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CEO of Plastech could benefit in sale
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Blue Water gets lead bid
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Municipalities:

Vallejo asks bankruptcy judge to void its labor contracts
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State, city layoffs: 45,000 and counting
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Counties face financial ruin
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General fund eyed for debt
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Mass Torts:

Supreme Court rejects WR Grace criminal asbestos appeal
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Plastics:

Wellman to mold reorg
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Religion:

Vermont Diocese with $8.7M Abuse Verdict Can't Find Insurance Policy
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Bonds:

Bond Downgrades May Soar After MBIA, Ambac Are Cut
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Predatory Lending:

'Working Poor Finder' Helps Predatory Lenders
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Delivery:

UPS Reduces Outlook on Fuel Costs, Slowing Economy
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Corporate Reform:

Broadcom's Samueli to Plead Guilty in Backdating Case
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Bankrupt mall developer a fugitive
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SEC Takes Aim at Credit Ratings
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Wall Street feels the heat
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Alternative Fuels:

Heyburn ethanol plant owners file for bankruptcy protection
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Theme Parks:

Still no contract for Wild West World
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Retailing:

Linens 'n Things to Close 120 Stores
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Bad News Flows On: Two More Retailers Hit Financial Crunch
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Hancock heads for confirmation
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Private Equity:

Former CPA testifies about money transfers in Mirablis case, more expected
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Hotels:

S. and A. reaches deal with lenders
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Real Estate:

Home Index Shows Record Drop
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Subprime meltdown took economy with it
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Mortgage Program Fuels Risks
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No-Money-Down Mortgages: Still Not Dead
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Capital Source sells assets at $36 mln loss; shares fall
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BofA sets July target for Countrywide deal
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HSBC spent $660K lobbying on finance rules in 1Q
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Homes sales continue to slide year over year in Massachusetts
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The commercial real estate crunch is here
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Court Enters Order Restricting Trading in Equity of Fremont General Corporation
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Caruso Homes files Chapter 11
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Developer Files Suit Against Lender
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Mortgage crisis spooking high-end developments
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Detroit Suburbs Spending More on Foreclosures
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LV: Vantage Lofts files for bankruptcy, owing $72 million
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Struggling Phoenix lender opts for Chapter 11
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Bankruptcy judge orders emergency hearing on trustee for Mortgages Ltd.
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Rocky times for resorts
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African Americans Targeted for Subprime Loans
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Harbinger reaps subprime profits
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Bankruptcy Reform:

House provides bankruptcy relief to reservists
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Aviation:

United Air to Cut 950 Pilot Jobs as Capacity Shrinks
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Roll With the Punches (More Are Coming)
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Fed money to help ex-ATA workers
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Economy:

What the Fed's considering at June 24-25 meeting
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Bernanke Plays 'Dangerous Game' Balancing Rate Talk With Action
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Economic Challenges Draw Out Divisions at Fed
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The Blame Game - Who killed the economy?
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Fed will hold interest rates tomorrow, economists predict
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L.A. seeing more people living out of their cars
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Where did our financial stability go?
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M&A:

Huntsman Sues Apollo and Its Top Executives Over Hexion Deal
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LBO Litigiousness - Who wins? Lawyers.
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PricewaterhouseCoopers midyear M&A forecast
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Hard times for the smart money
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Awards:

Chambers USA Names Moore & Van Allen Top Industry Leader In Bankruptcy
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Printing:

Quebecor World creditors mull legal bid to quash European sale
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Politics:

Dodd repeats denial of mortgage wrongdoing
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Jewelry:

Whitehall Jewelers Files for Chapter 11 Reorganization
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Banking:

UBS, Merrill Private Banking Growth Slows Amid Subprime Losses
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Banks turn to PE firms
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Wachovia hires Goldman for loan advice
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SunTrust 'worth more dead than alive?'
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Short sellers target U.K. banks
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Gambling:

Bankruptcy judge approves payments for Greektown
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Greektown lays off 89 workers
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Science:

AGT seeks bankruptcy court OK to sell assets
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Pigeons:

Don't turn pigeons loose
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Derivatives:

Monoline madness
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Tax:

A One-Time Tax Break Saved 843 U.S. Corporations $265 Billion
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Distressed Investing:

Junk Investors, Look Out if Defaults Rise
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Bankruptcy Litigation:

Settlement Is Reached by MediCor
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Hockey:

For Predators, a tale of two summers
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'Boots' Del Biaggio's financial hole: $35 million
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Furniture:

IKEA feels impact of housing slowdown
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Debt Collection:

Supreme Court Splits 5-4 in Standing Ruling for Collection Companies
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Insider Compensation:

Rep. Waxman targeting compensation committees and their consultants
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Skiing:

White Water goes to secured creditor
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Credit Cards:

Fed Official Testifies Card Disclosures Fail to Protect Consumers
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New Bankruptcy Opinions
(1 new opinion 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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Defaults:

MetLife Expects Climb in Defaults as Economy Slows
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Wall Street:

European Stocks, US Futures Fall
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Pink slips on Wall Street
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Lingering layoffs have financial services workers watching their backs
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Most US Stocks Fall Monday
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Recession Will Drag US Stocks Lower, Merrill Says
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Goldman Reverses 'Clearly Wrong' Call on Financials
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Wall Street firms may be forced to merge with banks, says analyst
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Bear's dogs that didn't bark
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Merrill may face new write-downs from exposure to CDOs
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Bear Stearns Mortgage Traders Leave for Goldman
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Construction:

Modern Continental files for bankruptcy protection
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Bankruptcy filing by Modern Continental called 'skeletal'
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Health Care:

Former hospital in foreclosure
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Treat big medical bills with care to keep finances healthy
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River Oaks Hospital closes its two facilities - "financial failure"
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South Carolina Hospital Struggling with Debt
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Calif. HMOs raked in $4B in profits
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Diseases Plaguing Poorer Nations Infect Growing Numbers in US
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Wonder drug that can 'cure' shyness
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Utilities:

TX: Electric bills double for some
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UK:

Rise in London bankruptcies
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Hedge fund reveals big short position in HBOS
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Babcock to Hire Goldman, Deutsche as Advisers
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Bradford & Bingley Spurns Cowdery's $785 Million Bid
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Mortgage approvals fall 20% in May
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Punch Falls the Most Since Going Public on Concern About Debt
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Kerry Katona's court date to remortgage home as cash crisis worsens
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Banks are guilty as charged
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Drop in new UK business start-ups
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Employee Protective Awards Provable In Company Insolvencies - Court Of Appeal Reverses Ruling
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UK Consumers Caution Parliament About Lenders, Collectors
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Canada:

BCE Surges After Court Approves C$52 Billion Buyout
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BCE case 'grueling' for lawyers
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BCE Buyers, Banks Wrangle Over LBO Funding Agreement
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Banks seek more changes to BCE deal
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CIBC likely to take $1B writedown after Moody's downgrades XL Capital
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Former Livent CFO spun fraud story, defense suggests
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Japan:

Japan Tankan Confidence May Slump to Lowest Level Since 2003
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Suruga Corp. Files for Bankruptcy Protection in Japan
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EU:

European Industries Shrink, German Confidence Falls
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Iran:

EU approves sanctions against Iran's biggest bank
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Australia:

Octaviar Faces More Than A$1 Billion in Claims From Creditors
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Switzerland:

Swiss judge says Alstom investigation almost complete
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Ireland:

Irish Economy Faces First Recession Since 1983
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Russia:

Yukos Risk: The Double Edge Sword, A Case Note on International Bankruptcy Litigation and the Transnational Limits of Corporate Governance
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PwC wins leave to appeal Russian tax ruling
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Korea:

Lone Star, Korea Chief Cleared of Stock Manipulation
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Netherlands:

Many Dutch prepare for 2012 apocalypse
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Jamaica:

Aviation crisis crippling tourism
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Germany:

German Economy May Shrink in Second Quarter
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Cayman Islands:

Setting Aside A Cayman Islands Charge Upon Insolvency
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