June 27, 2008

Daily Bankruptcy News

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Law:

Eckert Seamans and Attorneys Achieve Top Rankings in 2008 Chambers USA Guide
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Malpractice Suit Against Kaye Scholer Alleges Discovery Foul-Ups
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Celanese Hits Kaye Scholer With Malpractice Suit
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Top firms sacking lawyers quietly
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A Modest Suggestion re Associate Layoffs
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Cleary Gottlieb's Matter of Honor
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Worldwide belt hunt
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Attorney Fees Drop 80% Along With Exxon Award
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AmEx, Boies, Land Another Huge Antitrust Settlement
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Jackson Lewis Opens in N.M. & Memphis; 5th & 6th New Offices This Year
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Many Law Firms Think Bigger is Better
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Bingham Names Its First Manager of 'Diversity and Inclusion'
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Scruggs: Give me 2 1/2 years in jail
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Goodwin ups ante with Latham lateral
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Facebook: It's All About Quinn Fee Fight
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N.Y. High Court Revives Malpractice Suit Over Representation of Convicted Lawyer
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Big-Firm Billing Rates Take Center Court in Probe of NBA Referee Program
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Nifong's guitars up for auction
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Arrested Iowa Attorney Jailed in Bank Fraud Case
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Paul Weiss Celebrates Gay Pride Week With A Fabulous Bash
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What's in a Name When It Comes to Title Inflation?
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Lawsuit of the Day: Death Threat as a Corporate Strategy?
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Say What?!
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Judges:

Judge Facing Indecent Exposure Charges Sues Accusers
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Lesson for Judges: Watch How You ---ing Speak to ---ing Lawyers and Litigants
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Judge is removed from bench for lying about CLE
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Ex-Judge of the Day: Stuart DuBose
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Economy:

US economy logs better but still subpar growth
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After-tax incomes and spending gain
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GDP revised upward to 1.0% in first quarter
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Triple Shock in 2008 - Economic Outlook - Analysis by credit insurer Euler Hermes
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Bill extends jobless benefits 13 weeks
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Jobless claims unchanged last week
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Fed Sounds Inflation Alarm, Moves Toward Rate Rise
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Worst of Credit Crisis Yet to Come, Nucor Chief Says
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Inflation heats up, putting pressure on margins, credit markets
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Oil Surges Above $140 to Record as Libya Warns of Output Cut
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Oil reaches record near $142 a barrel
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OPEC predicts fresh high$
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Gas price to hit $7 a gallon by 2010, predicts CIBC
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Flat-earther blind to oil facts
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Oil Prices: It's All Speculation
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Stock market indicates oil prices may soon fall
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Banking:

Fed Steps Would Bolster Banks
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Fortis Scrapes Up Capital
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UniCredit to Cut 9000 Jobs
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Market's Fall Raises Fears on Banks
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Deutsche Bank Falls as Citigroup Says It May Need to Raise Cash
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Barclays May Need Additional 9 Billion Pounds, Citigroup Says
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Wall Street Takes Aim at Itself
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When will Canadian banks head south?
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A credit downturn should be familiar territory for banks. Think again.
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Bankruptcy Rules:

Supreme Court Approves Changes To Bankruptcy Rules
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Municipalities:

Vallejo bankruptcy challenges due by noon Friday
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When will union bosses finally accept reality?
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Vallejo City Council Adopts $223.1 Million Budget
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Rediscovering Chapter 9 As Financial Woes Of Municipalities Escalate
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Jeffco Sewer Crisis: Commissioners not receptive to advice
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Health Care:

Haven Healthcare Deal Falls Apart
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Court OKs special master for Landmark
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Highgate LTC awaits hearing
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State hospitals in fiscal crisis
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Stock Brokers:

Subprime Meltdown May Mean More Stockbroker Bankruptcies
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Personal Finance:

US July 4th Travel May Fall First Time This Decade
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Hedge Funds:

Investor accuses hedge fund of siphoning off money
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Food/Drink:

Restaurants struggle as gas, food costs rise
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Wornick gets confirmation nod
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Turnaround artist takes chance on Jocks & Jills
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American Halal seeks extension
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Moody's cuts Alliance One liquidity rating
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Theme Parks:

Will this be Six Flags last Summer?
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Student Debt:

First Marblehead Says Cash From Goldman Is Delayed
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Real Estate:

Existing-home sales rise 2% in May
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Home Resales Climb as Prices Decline
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Home Price Slide: Worst to Come?
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Lennar's Quarterly Loss Narrows, But Revenue Slides 61%
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Bank of America Will Cut 7,500 Jobs After Buying Countrywide
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The barbecue at Countrywide turns into a forest fire
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Housing industry lobby frustrated by Senate delay
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Delinquencies Rise at Fannie Mae, Freddie Mac
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Investor group key in lender's bankruptcy
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Schumer Seeks IndyMac Scrutiny
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Knoblauch looks to July hearing
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Foreclosure relief coming for NY homeowners
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Foreclosures a Boon to Marijuana Farmers
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Detroit area home sales slip
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Man Guts Home, Gets Jail Sentence
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Paso Robles lender Estate Financial could face Chapter 11 bankruptcy
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New Jersey Property Tycoon Hits Bankruptcy, and Creditors Face Underwater Auction Bids
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Judge OKs Zions' $25.3M bid for SunCrest
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Mortgage crisis spurs more training for foreclosure counselors
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Developer says it will be at least 2 years before anything is built
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$19.5 Million Hamptons Mansion In Foreclosure
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Post Properties Finds No Takers
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MMT wins JS II lot for $4.5M
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Could a little face time have saved us from the mortgage meltdown?
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Wall Street:

US Stock Futures Drop
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Stock Futures Edge Higher
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Cramer: The Path Ahead Is Down
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US Stocks Tumble, Sending Dow to Worst June Since Depression
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World Stocks Sag as Oil Price Surges
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Dow drops 300 points, hits 21-month low
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Gloom Descends Over Wall Street Again
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Citigroup, Merrill Estimates Lowered by Analysts
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Massachusetts regulator charges UBS with fraud
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Subprime Legal: State Regulators Get the Party Started
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Buy-and-Hold Not Working in US Stocks
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Banks send Europe shares to lowest close since 2005
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ARS fiasco shows little has changed on Wall Street
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Aviation:

American Airlines, regional affiliate will leave eight airports
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Airline cuts may allow Southwest to cut in
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Air France-KLM to Pay $350 Million for Rate Fixing
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A tale of two airlines in Denver
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Judge details injunction against Delta
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Aircraft Lessors May Benefit From Airline Slump
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Sick Passenger Says Airline Imprisoned Him
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Corporate Reform:

Black's Conviction for Theft From Hollinger Affirmed
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Black Ordered to Pay Globe and Mail Costs for Secrecy Challenge
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SEC Probes Stemming From Subprime Crisis Surge as Losses Mount
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Bear Indictments: Permissible Spin or Willful Misrepresentation?
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About Those Bear Stearns Fund Manager Indictments
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Rivas Indicted By Federal Authorities In South Carolina
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Celebs:

New bills in the Pearlman bankruptcy case add up to more than $5-million
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Fraud:

Mall developer booked on fraud charges
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Parish sentenced to 24 years
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Printing:

Quebecor World Concludes Sale of European Operations to HHBV
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Politics:

Obama Says Slowing US Economy Will Bring `Short-Term Pain'
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Washington Mutual spent $270,000 lobbying in 1Q
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Countrywide's Club
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Credit Cards:

Warren: Citibank Says Credit Market Doesn't Work
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Few bidders for GE's credit card business: report
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Discover Reports Charge-Offs Rise
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Corporate Governance:

Who's watching the watchdogs?
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Religion:

Unexpected housing slump effect: Church left half-built
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Finance:

Demise of Progressive raises fear of new stage in credit crisis
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Consumer Bankruptcy:

Drive in bankruptcy?
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Financial Privacy:

Bush Administration Accused Of Wholesale Violations Of Financial Privacy Laws
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Newspapers:

Buckling Under Boldface Debt
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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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Autos:

Chrysler denies bankruptcy rumors
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Fitch sees possible defaults at US automakers
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Chrysler banks on new pickup in declining market
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Auto Troubles Roil Treasurys
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GM Falls Most in 3 Years After Goldman Cuts Rating (Update2)
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Rising shipping costs may see GM source closer
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Plastech CEO to get almost $10 million from sale
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Progressive Moulded typifies troubles of auto parts makers
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Over 2,200 workers to be laid off at Toledo Jeep
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GM workers face more layoffs
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Agency layoffs loom at Ford
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US Automakers: Death Race 2008
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US carmakers are flat-out hurting
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Down With The Autos Industry
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Shares in Dana plunge 12% in heavy trading
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Hedge Funds:

Another Investor Suing SageCrest
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Music:

Cascade Festival of Music files for bankruptcy
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Chapter 13:

Chapter 13 Debtor May Deduct Full Amount Permitted By IRS Standards, Even If Greater Than Actual Expenses
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Bankruptcy Research:

After Bankruptcy, Americans Need 10-20 Years to Recover
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Boating:

Brunswick to Shut Boat Plants, May Fire 2700 Workers
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Retailing:

Hyped Clothing Retailer Hires Turnaround Help
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Bonds:

Fitch Withdraws Ratings for MBIA, Ambac
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MBIA's downgrade will cost it $7+ billion
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Junk-Bond Rally Gets Junked
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M&A:

Value of M&A tumbles as buy-out boom ends
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When a Done Deal Unravels
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Trucking:

JHT wins interim DIP nod
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Education:

Deadline set for Colegio
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Plastics:

Court Confirms Hilex's Plan of Reorganization
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Weather:

No Ice at North Pole This Year
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UK:

FSA bankrupts "boiler room" boss
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Bradford & Bingley Drops After Resolution Pulls Offer
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UK Growth Slows as Services Slump to 12-Year Low
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Italy:

Latest Developments In Italian Bankruptcy Law
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Germany:

German shares close markedly lower on Chrysler bankruptcy talk
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New Zealand:

Pay the $4m, court orders ex-Rich List developer
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Spain:

Spain is land of opportunity for restructuring professionals
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Canada:

Court's Role in Restructuring Paper Market Questioned by Judge
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Horse-racing firm files for bankruptcy protection
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Thow's life creates myriad questions
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Thow faces 25 counts of defrauding investors
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Leniency by CRTC eases sale of TQS
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Media and forest products default hotspots
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Bank of Montreal to Cut 150 Jobs
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EU:

Europe Business, Consumer Confidence Falls; Retail Sales Slump
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Pakistan:

Government to promulgate bankruptcy law
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Poland:

Shipyard restructuring plans sent to EU
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Netherlands:

VEB expects quick progress in KPNQWest management investigation
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India:

Homebuilder Unitech Profit Falls 52% as Rates Deter Home Buyers
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Japan:

Japan summer brings eel, and fraud
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