May 13, 2008

Daily Bankruptcy News

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Law:

Mintz Levin's Bankruptcy Practice Adds Stuart Hirshfield
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Get Your Head in the Clouds: Rainmaking Now a Must for Making Partner
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Associate Advice from the Corner Office: Part III
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Quinn Emanuel hires LA 'superstar' for London launch
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Fen Phen Lawyers, Charged With Bilking Clients, Head to Trial
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Kilpatrick Stockton merges with Muldoon Murphy & Aguggia
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Norton Rose revenue soars 27% to near $600m mark
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Survey Results: Kids and Careers
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Pay-as-You-Go Lawyer Referred to 2nd Circuit's Grievance Panel
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Meet the Winners in a Weak Economy
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NY Firm Cuts Deal With School for Training UK Associates
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Can Flextime Create Work-Life Balance if Lawyers Aren't Comfortable Using It?
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Shearman & Sterling: Shear drop?
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Latest Defection From BigLaw Firm Called a Dire Sign
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What five high-powered lawyers would do if they could relive the past
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Scruggs Roundup: DOJ's Pursuit, New Katrina Lawyers, and the New Yorker's Take
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Ropes & Gray CMO departs
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Indian Lawyers Handling Outsourced Work Do More Than Document Review
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Attorneys discuss how they cope with the stress, jet lag, loneliness, and bad airline food
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Father and Son Graduate Law School Together
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11th Circuit Puts the Brakes on Privacy Suit Against Law Firm
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Weil Gotshal Grows in Brooklyn
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Bike Couriers Riding Into the Sunset
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Lawyer strung clients along with phantom cases
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Tough Times for Expert Witnesses Sued By Own Clients for Negligence
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Lawsuit of the Day: The Right to Wear a Male Speedo
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Judges:

Former Judge Strikes Out in Abuse of Process Suit Against Firm
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Accused of Demanding Royal Treatment, Judge Fights Misconduct Charges
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The Ninth Circuit's new chief judge is brilliant, charming - and provocative. But does he have the right temperament for the job?
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A Tale of Two Judges: Chief Judge Alex Kozinski and Judge Elizabeth Halverson
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Judges get make-over from fashion star
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Bonds:

Bond Insurers See Ratings A Key Driver For New Business
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MBIA's Book-Value View
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Financial Services MBIA Shares Rise, Despite Big Loss
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Radio:

Cumulus shares plunge after buyout falls through
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Television:

13 Pappas Stations File Chapter 11
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Pappas to sell TV stations
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Wall Street:

Wall Street seen lower
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European Stocks Fall on Inflation Concern; U.S. Futures Decline
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Lehman CFO: Co. has been slogging through 2Q
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Calpers yanks more than $7 billion from outside investment firms
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Oil Prices Slide, and Wall Street Cheers
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Bernanke Lunched With Dimon, Rubin Before Bear Rescue
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JPMorgan May Face SEC Civil Charges
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Mining:

Grupo Mexico denies being 'evil empire' in Asarco deal
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Brownsville trial as mining firm seeks billions from parent
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Retailing:

Economy has consumers feeling the urge to purge
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Mall heads into bankruptcy
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Wal-Mart Posts 6.9% Rise in Net, Offers Cautious Outlook
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Sears majesty to hedge-fund dust
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Insurance:

Former Chief Tells Board That A.I.G. Is in 'Crisis'
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AIG downgrades spell trouble
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Former CEO asks AIG to postpone meeting
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Life, Health Insurers Hurt by Investment Losses
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Pensions:

Older workers' pension plans still larded with company stock
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Derivatives:

MBIA posts huge loss on credit derivatives
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Shipbuilding:

Shipbuilding Torpedoed by Subprime Causes Cost Surge
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Real Estate:

Democrats Challenge GOP on Mortgage Mess
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Senate Talks Collapse On a Housing Bill
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Housing bailout: Little cost but also little help
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Both parties want homeowner rescue bill
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Map of misery
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The Biggest Losers?
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IndyMac Reports Loss, Doesn't See Profit in 2008
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Indymac Bancorp's ratings cut, corporate credit rating on negative
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ResCap Bondholders May Oppose Debt Exchange Offer
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Toll Brothers Preliminary Sales Fall 30 Percent
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PMI, MBIA Are Sober Reminders
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UST to intervene in Premier bankruptcy
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Empire Land Company declares bankruptcy
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Beazer Restates Results for 9 Years
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Regulators Under Fire For Ignoring Red Flags
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Standard Pacific: Bargain or Trap?
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SunCrest wins final DIP approval
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Mortgage cos. reveal damage from housing crisis
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California Foreclosure Activity Drops
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Trump blasts state for backing out of EnCap project
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As Gas Prices Spike, Suburban Home Prices Fall
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New York Senate considers bill to reduce foreclosures
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No-money-down mortgages are still happening
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Neverland escapes foreclosure hook
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Autos:

Delphi: We're Rolling in Chap. 11 Loans
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Agency vows to protect Delphi pensions
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Axle of Evil
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GM closing transmission plant, 1400 jobs at risk
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Plant closing rocks CAW
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UAW's wrath sends a signal
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Bankrupt car dealership to get cars back
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Nissan Forecasts Biggest Drop in Profit in 9 Years
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Late on a car payment? Beware. Delinquencies are rising, and impatient lenders aren't waiting long to call out the tow
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Telecoms:

Sprint Nextel Posts Loss and Offers Gloomy Outlook
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Tax Court: No Theft at WorldCom
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Banking:

Wachovia reviewing risk process, to cut jobs
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Wachovia subpoenaed over auction-rate securities
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Get ready for more bank failures
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SocGen's First-Quarter Net Dropped 23% on Provisions
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Credit Agricole plans $9.2 billion capital boost
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For HSBC, Asia Offsets Loan Problems in the U. S.
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Southern California's S & Ls suffer, survive
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Credit Cards:

Credit card nightmares prompt crackdown
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Regulation of credit card companies is long overdue
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HSBC's Card Charge-offs Rise 38% in 1st Quarter
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Hedge Funds:

Rangel again angling to tax deferred comp for hedgies
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A Second Act For Amaranth Founder Maounis
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Personal Finance:

1 in 10 boomers borrowing for everyday expenses
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Financial Literacy:

Borrowers who complete homeownership education programs make better refinancing decisions
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Lemonade and lessons flow forth
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Enron:

Enron Broadband retrial set, pending appeals
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M&A:

Clear Channel Litigation Settling, Deal Re-Negotiated
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Clear Channel chatter
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RVs:

Economy Puts Tight Squeeze On RV Makers
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Auto Racing:

Champ Car assets to be sold at auction
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Celebs:

Michael Jackson Dodges Foreclosure
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Student Debt:

Student pays tuition in coins in protest over tuition credit card ban
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The Latest Twist in Student Loans
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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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Bankruptcy Rules:

New Bankruptcy Rules Add to Consumer Woes, But Work Better for Corporations
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Aviation:

GMAC to pay Aloha Airlines' workers April back pay
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Aloha Cargo Sale Back in Court
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Steenland says most NWA jobs to remain
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Airline shares get a fresh wind as oil prices fall
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Will Aircraft Leasing Companies Hit Turbulence?
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Man sues airline after being told to sit in bathroom
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BAA erased by debts?
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A Mountain Too High
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Mass Torts:

Manhattan Institute report finds resurgent asbestos lawsuits racket
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Capitalism Retardant Asbestos Suits
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Health Care:

Hospitals take charity care protest to Statehouse
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Hospital plan includes sale
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Municipalities:

California city will be litmus for bankruptcy cases
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Vallejo city workers offer to cut pay
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Vallejo unions say their plan can avert bankruptcy
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Economy:

Outlook still uncertain, Fed's Evans says
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Bernanke: Financial turmoil in markets easing
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Fed's Evans: current rates accommodative
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Dollar mixed before new economic reports
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Dimon: Credit Crunch Nearly Over
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Long slump may follow crunch: JPMorgan CEO
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Many Hispanics Are Hit Hard by Economic Slump
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Treasury revenue, spending at record highs in April
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Kenneth Griffin, founder of Citadel Investment, bashes his peers
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Finance:

LBO Debt Buybacks Trigger Review of Lending Rules
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Jewelry:

OTC wins 4th use of DIP
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Forest Products:

Sierra Pacific Industries details bid for PALCO's Scotia mill
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Bondholders: Scrutinize Palco pact
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Predatory Lending:

Payday loan law loophole swallows borrowers whole
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Internet Wild West of Payday Lenders Needs Regulation
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Corporate Governance:

Credit crunch breeds investor activists
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UK:

E&Y snatches restructuring partner from PwC
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House price fall 'welcomed by many'
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Butler & Tanner calls in UHY as administrators
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Debt endemic among British youth
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Canada:

Bill improves protection of retirement assets
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Canadian Judge Urged to Grant C$32 Billion Debt Plan
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Chapter 15 takes some of the looniness out of the loonie
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Nanaimo will suffer from loss of Harmac tax base
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Personal credit card was used to buy Livent tickets, witness tells trial
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WorldHeart shares plunge 79%
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What U.S. companies need to know about Canadian bankruptcy law
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Poland:

Gdynia Shipyard may go bankrupt soon
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Taiwan:

CAA rejects FAT's move to suspend operations starting today
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Australia:

Australian companies bracing for US economic impact
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Centro could face second class action
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