March 14, 2008

Daily Bankruptcy News

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Law:

Does a Recession Mean Layoffs -- or a Time to Snag Laterals?
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Justice Kennedy Turns Up the Heat on Judicial Salaries
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Tort King's Path to Bribery Charge
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Attorneys' Fees: The Source of Many Headaches for Dickie Scruggs
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Anonymous jury not for Backstrom
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Sandra Day O'Connor Says First-Year Associates Shouldn't Earn More Than Judges
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Is it Nifty to Retire at 50?
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New Co-Honcho of Gibson L.A. talks Growth
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What's Going on at Edwards Angell Palmer & Dodge?
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Edwards Angell ends review with layoffs
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K&L Gates: Reality TV Stars Welcome Here!
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The Road Warrior
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As Defecting Partners Clash Over Cash With Old Firm, Leader Steps Down
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McDermott boss 'delighted' to be stepping down
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Just a Coincidence?
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Generation Y Attorneys - Is It Lack Of Motivation, Or A Difference In Focus?
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FBI disregarded secret court on private records
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RiskMetrics Ranks Grant & Eisenhofer Number 1 U.S. Law Firm for Average Investor Recoveries in Securities Actions in 2007; Firm Number 2 in Overall Settlements
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Law School to Teach Practice of Law
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Emphasis on Money Can Be Source of Depression in Law School
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Tenth Circuit's chief judge takes "under advisement" judicial misconduct complaint asserting that Chief Judge Edward W. Nottingham of the U.S. District Court for the District of Colorado has brought disrepute to the judiciary
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Are senior status federal judges costing too much?
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Firm in soul-selling promo video
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Spitzer - the Harvard Law fall
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Federal Cases Decrease in 2007
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Women in Skirts Have No Expectation of Privacy in Public
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Say What?!
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Economy:

Paulson's New Anti-Crisis Playbook
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The Fed: Time for Some Tough Love?
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Waking Up to the Recession
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Treasurys Off After S&P Issues Forecast
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Most Economists in Survey Say Recession Is Here
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We'll See More Casualties
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Carlyle Sends An Ominous Message
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Carlyle's mortgage fund
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Meet your new banker: Uncle Sam
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Plugging holes - Central banks' latest moves to increase liquidity will ease but not solve the credit crunch
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One Ill Compounds Another, Hammering the Economy
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Dollar Trades at Record Low Versus Euro as Credit Losses Mount
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Bernanke cuts done in 'heat of the battle' may doom inflation strategy
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Private Equity:

CCC's woes seen as small blemish for Carlyle Group
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Carlyle's Rubenstein 'Surprised' By Fund's Collapse
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Blown away without mercy
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Autos:

Chrysler Sets a Two-Week Furlough for Most Workers
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Chrysler's Closure
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Chrysler summer shutdown to include salaried workers this year
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GM, Ford shares fall after Morgan Stanley cut
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GM, Ford stocks hit historic lows
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Faltering economy dims auto outlook
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Auto Titans Move to Cut Costs
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Car companies cut deeper than the bone
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For Dana, leaving Chapter 11 is just one step
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Lampert raises stake in AutoNation
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Exotic Cars files for bankruptcy
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Fraud:

Kerviel to Plead for Liberty, Saying He Had No Accomplices
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Trader Tells Prosecutors Boss Saw Illicit Deal
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SocGen trader questioned with bosses
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Folsom Fraud Suspect Indicted on Federal Charges
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An Exchange Official Is Charged
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Dad, Daughter Accused Of $70 Million Con
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Municipalities:

Jefferson Cnty sewer debt plummets on bankruptcy fears
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Jefferson County debt debacle deja vu for neighboring Shelby
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Furniture:

Furniture retailers fall on hard times
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Credit Cards:

Univ. Md. expert pans credit card terms, market
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Real Estate:

US Home Defaults, Foreclosures Rise 60% in February
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New Foreclosures Hit New High In Q4; Delinquencies Soar
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Countrywide Foreclosure Rate Rises
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Subprime Writedowns: Is the Worst Over?
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S&P's Grim Subprime Report
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Dodd, Frank Urge More US Aid to Stem Foreclosures
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Democratic Lawmakers Align On Plan to Insure Mortgages
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Pressure For Big Mortgage Aid Swells In DC As Crisis Mounts
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US regulators unveil plan to revamp mortgage rules
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Mortgage broker, lender plan too little too late
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Skin In The Game - there has to be a better way
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Home Equity Shoe Dropping
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S&P Sights End Of Subprime Nightmare
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Carlyle Capital Nears Collapse as Rescue Talks Fail
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Carlyle Capital rallies on compensation hopes
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Creditors 'set to seize CCC assets' after debt defaults
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CA: Home prices plunge amid foreclosure sales, slow high-end market
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San Diego County's median home price 20% off its 2005 peak
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Where To Find Million-Dollar Foreclosures
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Mortgage REITs plunge, Thornburg Mortgage leads decliners
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Boston to offer free legal help to stem foreclosures
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It's a buyers market, but where are the buyers?
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Rising Foreclosure Rates Cause HOAs To Fall Into Bankruptcy
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Foreclosures hit paradise
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Banking:

Hank Paulson urges banks 'raise more cash' as credit crisis deepens
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Trustee: Fewer than 500 of 4000 ATMs can be found
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Judge blocks ATM conversion
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Wall Street:

Dow, Nasdaq Feel Rally On The Street
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Subprime Fears Overwhelm Stock Market; Nasdaq Closes Less Than 1% Above Jan. Low
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Futures Slip Ahead of Inflation Data
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Japanese Stocks Rally After S&P Predicts End of Subprime Woes
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World's investors scared by wobbling US
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Mortgage Mess
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Gold soars as panicking investors seek safety
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Bear Stearns Stock Plunges Amid Risk Worries
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Bear Stearns Falls to 5-Year Low on Capital Concern
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As Dollar Hits New Lows, Investors Look Elsewhere
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Mining:

Bidders don't want Asarco to have the discretion to abandon a sale
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Religion:

Judge will consider release of Oregon archdiocese documents
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Financial Literacy:

Sixth-graders learn about international economics
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Telecoms:

Sprint, collapsed hedge fund share chairman
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Finance:

Creditor protections on older loans not so hot either, says Moody's
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Loose Loans, Heavy Risk
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Bankruptcy Crimes:

Family Accused of Defrauding $9 Million From Feds
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Debt Collection:

Debt Collectors Try to Put on a Friendlier Face
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HVAC:

Fedders cleared to sell HVAC unit
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Health Care:

5 Guilty of Fraud in Health Care Finance
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Retired health exec to lead efforts for Philipsburg hospital
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New NRMC CEO announces pay cuts
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Victory Memorial auction set
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Gambling:

Legends Gaming craps out
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UCC:

South Dakota Makes 30
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Mass Torts:

Calif. couple awarded $7M in asbestos suit
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Ratings Agencies:

Triple-A Trouble
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Rating agency puts limits on equity credit derived from hybrids
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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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History:

A 1930s Loan Rescue Lesson
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Enron:

$11M to Be Restored to Enron Fund
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UST:

Where's the UST?
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Arbitration:

Bankrupt Consumer Arbitration
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Skiing:

Tamarack developers face uphill battle to keep control
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Retailing:

Drop in Retail Sales Signals Recession
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Retail sales in February unexpectedly fall, led by autos
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Faltering Lillian Vernon finds a buyer, wants to shop around
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Sharper Image Gets OK for Ch 11 Auction
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Hedge Funds:

Turbulent hedge fund industry set for more failures
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Judge to rule on Ritchie filing
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Small funds face credit squeeze as prime brokers withdraw
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Death of the hedge fund?
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Hedgies complain, SEC revises probe letter
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Bond markets wreak havoc on hedge funds
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Corporate Governance:

CNET may appeal court ruling on board nominee case
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Bonds:

Record drop in demand for muni bond insurance threatens monolines
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Security Capital to stop writing new business
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M&A:

Buyouts gone bust
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Aviation:

Bankruptcy: The alternative to airline mergers?
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Airline stocks dive after downgrades
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Delta merger efforts appear to be on hold
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Alitalia shares dive ahead of Air France-KLM offer
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Delphi expected to be rated 'B' after emerging from bankruptcy
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Adam Aircraft sale OK'd
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Food/Drink:

IBC will pay $5.3M to let financing deal expire
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Wornick gains DIP approval
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CCI finds buyer
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Layoffs:

Facility Closures and Layoffs (March 9-15)
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Celebs:

Michael Jackson saves Neverland Ranch from public auction
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Mansion of former boy-band mogul Lou Pearlman will go through foreclosure
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Insider Compensation:

No bonus for Citi chief
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Citi Oks $102M for CEO Pandit
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Citi CEO Pandit made $165 million off sale of Old Lane fund
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All Told, the Price Tag for Citigroup's New Chief Is $216 Million
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Politics:

A Grand Old Problem for the GOP - Can the White House boost the economy by Election Day?
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Deciding Whether to Prosecute Spitzer Poses Sensitive Issues
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Room 871
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UK:

Cardiff City could be facing administration
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Insolvency (Amendment) Rules 2008 - DRAFT
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Borrowing costs rise despite base rate cuts
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Credit crunch claims a new victim
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Italy:

Former Parmalat chief goes on trial
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Europe's Enron' trial
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Parmalat trial starts as 50 face fraud charges
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Canada:

ABCP workout likely to be insolvency action
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