June 3, 2008

Daily Bankruptcy News

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Law:

Kirkland Shoves Weil Gotshal Aside as Leading Bankruptcy Firm
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Latham reveals restructuring ardor
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Weiss Sentenced to 2 1/2 Years for Kickback Scheme
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The Twilight of Milberg Weiss
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Weiss v. Lerach: Analyzing Two Sentences
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Five weeks until Scruggs learns fate
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Firm's 'Ever Argue With a Woman?' Ad Provokes Debate on Stereotypes
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Chris Wolffarth Joining Shackelford, Melton & McKinley in Dallas
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Kelley Drye Bankruptcy Partner Wins Writing Award
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Legal assistant in Kentucky fen-phen trial says her boss told her to destroy documents
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Supreme Court Allows Market Rate Recovery in Paralegal Fee Dispute
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Spence's No-Loss Record Stands with Fieger Acquittal
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Big Indy Firm Coming to Chicago, Plans 50-Lawyer Office
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Heller Gives Its Attorneys More Leave
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Is It Really $1,000/Hour? Or Just $900?
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Preparing For The Bankruptcy "Wave": Using Legal Process Outsourcing Before, During And After Chapter 11
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Clifford Chance MP Predicts a Firm Future Less Focused on London
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Buchanan Ingersoll Closes One Office, Eyes Consolidating Another
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High Court Deals Government Three Losses on Clement's Last Day as SG
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Garre to be Nominated as Next U.S. Solicitor General
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Alberto Gonzales Delivers Graduation Address
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How Not To Succeed As A Summer Associate
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'Beautiful Lawyers' Calendar Seeks Candidates
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3rd Circuit: Woman Cannot Be Fired for Having Abortion
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Rocker-Lawyer Pesters R. Kelly, Gets Boot from Courtroom
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Calif. Lawyer Arrested in Singapore for Criticizing Judge in Blog and E-Mail
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The Lawyer and the Bachelorette (Week 3)
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Judges:

Judge Taking Heat For Her Rulings, Courtroom Conduct
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Wall Street:

Stock futures mixed before Bernanke speech
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UK Stocks Including Persimmon Fall
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US Stocks Drop, Led by Financials; Wachovia, Lehman Retreat
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Bonds hit session highs as stock losses deepen
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Lehman May Need to Raise Capital as Analysts See Loss
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Will Lehman Implode?
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Shareholders Sue Bear Stearns' Top Execs
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Government Bonds Rise as Credit Losses Stoke Demand for Havens
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Corporate Reform:

Brocade Pays $160 Million to Settle Backdating Case
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Analog Devices & CEO Pay $4 Million
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High Court Offers Clinic On Money Laundering
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SEC's Friestad, Curtis Chosen to Steer Enforcement
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Commodity Regulation to Toughen
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Congress, Regulators Target `Bad' Speculation
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US CFTC to examine crude oil market, derivatives
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As lawmakers look to curb commodities speculation, Wall Street is watching closely
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One commodity analyst warns on oil: 'Look out below'
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Grasso's Grit May Win After All
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Aviation:

Airlines Face 'Desperate' Situation, Official Says
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Airline shares struggle to stay aloft
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To Save The Airlines, Let The World Buy Them
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Fuel bill of $40bn equal to seven times 2007's profit
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Airline Group Sees 'Desperate' Times
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Airlines ask govts to allow restructuring across borders
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Objection to Frontier pay plan withdrawn
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The Little Airlines That Can't
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Two dozen airlines fold up in 5 months, 8 times annual average
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Video conferencing sales soar as businesses nix air travel
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British Airways criticizes Italy's financial support of Alitalia
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Municipalities:

Watch this bankruptcy
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Fat pensions spell doom for many cities
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Jeffco looking to pay up to $100,000 per month for firm to aid with restructuring
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Enron:

50 cents on the dollar: Enron meets creditors halfway
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Forest Products:

Pope & Talbot mill to be auctioned
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Venue:

Delaware: A Venue Of Choice For Major Chapter 11 Cases
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Real Estate:

America's House Prices Falling Faster Than Great Depression
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Rating Cuts, Executive Ousters May Signal Longer Mortgage Slump
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Toll Reports Third Straight Loss as Home Sales Fall
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GMAC-RFC Loan Delinquencies Rise Sharply, Putting Banks at Risk
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ResCap Gets GMAC, Cerberus Funding to Avoid Default
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Cerberus denies sells most of GMAC, Chrysler stakes
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Subprime Crisis Spawns Wave of Litigation
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Thornburg Mortgage needs add'l time to file 10-Q, plans reverse stock split
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WCI Stops Some Major Building Projects
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AHM asks for extension
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Home builders up against it try to unload land
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Homeowners Associations: Villains Or Victims in Foreclosure Crisis
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Foreclosures surprise Hamptons real estate market
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Class Claims Ocwen Cheats Homebuyers
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Economy:

Manufacturing, construction, founder; prices rise
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Economists React: 'Severe Recession Has Been Averted'?
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Atlanta Fed CEO Lockhart: Economy still has 'serious risks'
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Bush pushes to make tax cuts permanent
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Bernanke Optimism on Growth, Inflation Dashed by Surge in Oil
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The Coming Energy Wars
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Heaviest impact of the credit crisis yet to come
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Banking:

S&P slashes bank, broker ratings on loan loss fears
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Downgrade of 3 Banks Revives Credit Fears
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Wachovia CEO's Optimism Cost Him Job
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Wachovia: One Thompson Deal Too Many
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Wachovia's Ouster of Thompson Hints Losses, Takeover
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After Wachovia, WaMu Shuffles, Who's Next?
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Wachovia 'AA-/A-1+' rating on negative watch after CEO removal - S&P
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After Mortgages, Wachovia Construction Crisis May Be Building
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Societe Generale to replace head of loss-making subsidiary
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Gambling:

Greektown Casino to seek bankruptcy loan
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Cordish a bidder for NJ casino
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Fate of Tropicana's Yung unknown
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Fraud:

Broker accused of defrauding investors files bankruptcy
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Darrow sentenced in Mile High Capital case
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Newspapers:

Strib Bankruptcy Watch: Avista asks for six month debt holiday
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Mining:

Sterlite-Asarco deal not yet solid
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Asarco deal will give Vedanta a copper-bottomed earner
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Battle lines drawn about Asarco's sale
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Asarco protests attempt to withdraw Grupo Mexico execs as witnesses
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ABN AMRO advises Sterlite on Asarco acquisition
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Asarco sale raises questions
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Art:

Salander's Obsessions Sell
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Artists' group details new plan to stay solvent
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Hedge Funds:

Hedge Funds: Activist tool threatened as judge weighs disclosure requirements
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Bayou creditors sue Goldman unit for $20.6m
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Finance:

Now lenders are facing HELOC hell
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Corporates lever down for coming downturn
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Corporate Governance:

Two of Dow Chemical's top executives worked on a $50 billion takeover of their company last year, behind the backs of the company's chief executive and board
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D&O Insurance: Defense Expense and Limits Adequacy
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WaMu: Time for imperial CEO to go?
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Trucking:

Soaring diesel hurts truckers - 935 trucking companies filed bankruptcy in Q1 '08
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Towing contractors, drivers caught in a bind
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Wisconsin Truckers Face Layoffs
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Education:

Some Colleges Confident About Student Loans
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Furniture:

Bombay creditors to vote on plan
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Politics:

Clinton in negotiations for Obama to help pay off her debts
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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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Bankruptcy Statistics:

US commercial bankruptcies rise to record
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Toledo-area bankruptcies rise, but at a slower pace
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Autos:

Ford completes $2.3B sale of Jaguar, Land Rover
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GM could realign jobs, plants some more
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Gas offer not pumping sales
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Cerberus: Sale reports false
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General Motors to Halt Production at Four Plants
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Health Care:

Highland seeks bankruptcy protection
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Hospital juggernaut adding three properties
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NBTY top bidder for Leiner Health
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Tax:

Prosecutors want Snipes to foot court bill
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Radio:

As Fundamentals Fall Apart, XM And Sirius Face Bankruptcy
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Accounting:

Dutch officials to probe Deloitte over Ahold
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RVs:

Winnebago Industries to idle plant, cut 270 jobs
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Hotels:

Marriott: Hotel Business Slow
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Hotels Have Rooms But Few Guests
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Mass Torts:

Judge OKs $250M WR Grace settlement for Montana asbestos
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Apparel:

Xerium reorganizes debt, avoids bankruptcy
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Security:

Surveillance device maker files for bankruptcy protection
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Retailing:

Linen 'n Things financing from GE is approved
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IPofA wins repayment
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Metals:

Aluminum Traders Expect Output Costs to Rise Until 2013 on Oil
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Accounting:

Deloitte: Accounting Rule Causes Execs to Rethink Deal Strategy
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Insider Compensation:

He messed up. Should he get rich if his successor succeeds?
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Lawsuit Criticizes Yahoo Retention Plan
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Credit Cards:

What's in your wallet?
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UK:

Bradford & Bingley Must Buy $4.1 Billion GMAC Loans
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Home loans approvals fall to new low
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UK Two-Year Notes Rise as Financial-Market Woes Drive Demand
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British Bank Gets Private Equity Lifeline
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Banks raided over accountancy loans
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Canada:

BCE appeal ruling rattles business
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Canadian Supreme Court to hear BCE case
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Remstar says it wants to revive Quebec's 'clinically dead' TQS network
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X-Copper files for bankruptcy
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Canadian optimism takes a nosedive
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Ireland:

Payment delays hit Irish businesses as credit crunch continues to bite
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Bank of Ireland Falls Most in 19 Years on Rising U.K. Arrears
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Japan:

Zephyr Shares Fall By Limit for Third Day on Unit's Bankruptcy
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Japanese Firms Lose $17b Due To US Subprime Crisis
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EU:

Europe's Expansion Accelerates More Than Estimated
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Germany:

German Public Debt Rises to EU18,880 Per Person
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Spain:

Spanish Economy Heading For A Major Correction
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