September 2, 2008

Daily Bankruptcy News

Also available on the Web (with links to the news stories) Click Here
Prior editions: Click Here
Search prior headlines: Click Here
Search prior New Opinions: Click Here



Law:

Mayer Brown hire boosts Orrick bankruptcy focus
(DBN Subscription Required)

Start Date Watch: Sonnenschein
(DBN Subscription Required)

No Offer Watch: Stroock Strikes
(DBN Subscription Required)

Kerkorian Lawyer Is Found Guilty of Wiretapping Billionaire's Former Wife
(DBN Subscription Required)

Terry Christensen, Pellicano Convicted on Wiretapping Charges
(DBN Subscription Required)

Lawyer of the Day: Terry Christensen
(DBN Subscription Required)

What's Your Time Horizon?
(DBN Subscription Required)

Partners Moving On in Slow Motion
(DBN Subscription Required)

Congratulations! You're a Partner . . . Now Pack Your Bags
(DBN Subscription Required)

The Crux of the Matter Is Lawyers, Not the Law
(NYT: separate free registration required)

Federal Court Statistics, or: How Numbers Can Drive You Mad
(DBN Subscription Required)

Report Will Conclude Alberto Gonzales Mishandled Wiretap Notes
(DBN Subscription Required)

Live from Gustav: Ernie the Twittering Attorney
(DBN Subscription Required)

Law Firm Uses Technology to Operate During Hurricane Gustav
(DBN Subscription Required)

Lawyers Slow to Adopt Cutting-Edge Technology
(DBN Subscription Required)

______________

Judges:

Will Federal Judge's Behavior Shift Line Between Judicial Freedom and Misconduct?
(DBN Subscription Required)

Judge's Indictment Raises Questions About Discipline Process
(DBN Subscription Required)

Buckley Satire Throws the Book at the High Court
(DBN Subscription Required)

Update: Judge Kent Indicted on Sex Charges
(DBN Subscription Required)

Despite legal troubles, Kent has no plans to leave bench
(DBN Subscription Required)

A Cover-Up in the Judge Kent Case?
(DBN Subscription Required)

______________

Autos:

Delphi revising plan to emerge from bankruptcy
(DBN Subscription Required)

KeyBank sues D & R for $9 million
(DBN Subscription Required)

A Detroit Bailout Is Unwise
(WSJ: separate paid subscription required)

Court approves Ford VEBA fund
(DBN Subscription Required)

Delphi plays with creditors?
(DBN Subscription Required)

New Procedure For Car Cramdowns? Southern District of California Bankruptcy Court
(DBN Subscription Required)

Chrysler's Longtime GC to Retire, Replacement Named
(DBN Subscription Required)

______________

Retailing:

Linens 'n Things Files Reorganization Plan to Give Company to Creditors
(DBN Subscription Required)

______________

Wall Street:

Stocks in Europe, US Futures Gain
(DBN Subscription Required)

US Stocks at 25.8 Times Profit Means Rally May End
(DBN Subscription Required)

Retail investors in US equities hits low
(DBN Subscription Required)

Stocks Waffle, Then Dip Fri. on Spending News
(NYT: separate free registration required)

Stocks Decline in Europe, Asia, Brazil Retailers Slump
(DBN Subscription Required)

Wall Street enters month of peril with outlook clouded
(DBN Subscription Required)

Is Lehman Brothers actually falling apart?
(DBN Subscription Required)

KDB Still Looking At Lehman
(DBN Subscription Required)

Korea Development's Min Confirms Talks With LehmaN
(DBN Subscription Required)

Why a drop in demand could end Lehman
(DBN Subscription Required)

More firings at Lehman, but not enough
(DBN Subscription Required)

Lehman Plans to Dump Some Loans
(WSJ: separate paid subscription required)

The Hidden Cost of Lehman's Neuberger
(DBN Subscription Required)

______________

Municipalities:

Gov. Riley Strikes Deal With Jefferson Investors
(DBN Subscription Required)

Reprieve for a County Near Bankruptcy
(NYT: separate free registration required)

Jefferson County creditors plan to respond this week to county's latest sewer-debt proposal
(DBN Subscription Required)

Riley: Progress on Bond Crisis Negotiations
(DBN Subscription Required)

Wall Street takes county to woodshed
(DBN Subscription Required)

Hush-hush ways of city manager
(DBN Subscription Required)

Vallejo Bankruptcy Ruling Imminent
(DBN Subscription Required)

Half Moon Bay loses last chance for state aid
(DBN Subscription Required)

______________

Resorts:

Bankruptcy referee wants to sell Double JJ quickly
(DBN Subscription Required)

______________

Personal Bankruptcy:

Overspending Main Cause of Bankruptcies
(DBN Subscription Required)

______________

Oil/Gas:

SemGroup Energy seeks more court protection
(DBN Subscription Required)

Ky. refinery to be sold at auction
(DBN Subscription Required)

______________

Credit Cards:

Credit Card Companies Bullied Mythbusters
(DBN Subscription Required)

______________

Booksellers:

US judge dismisses SSG bankruptcy
(DBN Subscription Required)

______________

Appeals:

Bankruptcy judge joins appellate panel
(DBN Subscription Required)

______________

Distressed Investing:

Fund to buy distressed mortgages gets backing
(DBN Subscription Required)

Distressed investing zeroes in on banks' leveraged loan portfolios -- for now
(DBN Subscription Required)

______________

Corporate Governance:

CFO turnover hits a record high
(DBN Subscription Required)

______________

Labor:

Employees increasingly squeezed - and stuck
(DBN Subscription Required)

______________

Corporate Reform:

Criminal Charges Dropped Against KLA Executive in Backdating Case
(DBN Subscription Required)

S.E.C. hits shallow ground with a light fine in fraud case
(DBN Subscription Required)

KPMG, corporate prosecutions and white-collar justice
(DBN Subscription Required)

Blame Game: A Jury Tackles CFO-CEO Fraud
(DBN Subscription Required)

______________

 

 

Real Estate:

Foreclosures get worse for prime loans
(NYT: separate free registration required)

Foolish underwriting standards were not restricted to subprime mortgage loans - 'You Could Write Down Anything'
(NYT: separate free registration required)

Fannie-Freddie doubts grow
(DBN Subscription Required)

Fannie, Freddie Slip After Key Gains
(DBN Subscription Required)

Treasury's Paulson Struggles With the Mortgage Crisis
(WSJ: separate paid subscription required)

Bank of China flees Fannie-Freddie
(DBN Subscription Required)

Banks seek preferential treatment for their Fannie, Freddie preferred
(DBN Subscription Required)

It's time to rethink role of Fannie Mae and Freddie Mac
(DBN Subscription Required)

Manhattan shows first cracks
(DBN Subscription Required)

Lehman Has Plan for Real-Estate Loans
(WSJ: separate paid subscription required)

Parent of shuttered United Title of Texas files for bankruptcy
(DBN Subscription Required)

WCI needs nod on $150M DIP
(DBN Subscription Required)

Bankruptcy trustee will probe Park project for fraud
(DBN Subscription Required)

Resolving the Foreclosure Crisis: Mortgage Modification in Bankruptcy
(DBN Subscription Required)

Reset loans add to home woes
(DBN Subscription Required)

Action Against Mortgage Broker Proceeds
(DBN Subscription Required)

Fitch Warns on Fidelity National, Downgrades Other Title Insurers
(DBN Subscription Required)

Legacy National pressures Lynnkorn
(DBN Subscription Required)

______________

Bankruptcy Reform:

Is Bankruptcy Reform Around the Corner?
(DBN Subscription Required)

Systemic Risk, Business Risk and Bankruptcy
(DBN Subscription Required)

______________

Economy:

Consumer Spending in U.S. Slowed in July as Prices Rose Most in 17 Years
(DBN Subscription Required)

Fed's Hoenig Says Institutions Must Be Allowed to 'Fail'
(DBN Subscription Required)

Business Activity Expands at the Fastest Pace in Year, Chicago Index Shows
(DBN Subscription Required)

Oil down sharply as Gustav seen weakening
(DBN Subscription Required)

Workers Happy To Have Jobs, But Unhappy In Them
(DBN Subscription Required)

Oil nears $100
(DBN Subscription Required)

______________

Health Care:

Hawaii Medical Center Files for Bankruptcy After Loan Request Turned Down
(DBN Subscription Required)

Oahu hospital operator files for Chapter 11 bankruptcy
(DBN Subscription Required)

Sister Agnelle Ching, CEO of St. Francis Response to Bankruptcy
(DBN Subscription Required)

Clinica to buy Sequoia assets
(DBN Subscription Required)

Pontiac General gets DIP nod
(DBN Subscription Required)

______________

Textiles:

Quaker Fabric wins confirmation
(DBN Subscription Required)

______________

Politics:

Ex-Obama Fundraiser Tony Rezko Is Declared Bankrupt, Owes $23.1 Million
(DBN Subscription Required)

Is History Siding With Obama's Economic Plan?
(NYT: separate free registration required)

Obama's Questionable Stimulus Plan
(NYT: separate free registration required)

Private equity and hedge funds work both sides of the aisle
(DBN Subscription Required)

Biden selection could be bad news for credit-card issuers
(DBN Subscription Required)

Governor Palin and Delaware Corporate Law
(DBN Subscription Required)

Biden's Ties to Trial Lawyers
(DBN Subscription Required)

Republican Veep Nominee Is No Stranger to Legal Conflict
(DBN Subscription Required)

______________

Bankruptcy Statistics:

Alabama bankruptcies continue to climb
(DBN Subscription Required)

______________

Regulators:

Regulators and industry spar over meaning of "swap"
(DBN Subscription Required)

______________

Celebs:

Michael Vick says he plans to play in NFL again
(DBN Subscription Required)

______________

Music Industry:

Sale Of Death Row Records On Hold
(DBN Subscription Required)

______________

Hotels:

Hotel Developer Lands in Red Ink, Despite Boldface Names
(NYT: separate free registration required)

______________

Hedge Funds:

Running a hedge fund loses its allure
(DBN Subscription Required)

Atticus Capital said to have lost $5 billion on financials
(DBN Subscription Required)

Hedge funds face struggle for survival
(DBN Subscription Required)

Hedgies pulling the plug on their funds
(DBN Subscription Required)

______________

Successor Liability:

Exit Stage Left?: Purchasers of Simplicity's Assets Hope (Against Hope?) to Avoid Successor Product Liability Claims in Simplicity Bassinet Recall
(DBN Subscription Required)

______________

Telecoms:

The CLEC Experiment: Anatomy of a Meltdown
(DBN Subscription Required)

______________

Insurance:

D&O Insurance: Consequences of Withheld Settlement Consent
(DBN Subscription Required)

Gustav caused $4 bln-$10 bln insured loss
(DBN Subscription Required)

Debate Gaining Strength Over Government's Insurance Role
(WSJ: separate paid subscription required)

______________

Alternative Fuels:

Fresh equity revives Nebraska biodiesel plant
(DBN Subscription Required)

______________

Committees:

Upcoming DE Organizational Meetings
(DBN Subscription Required)

______________

M&A:

After a busted buyout, Gilat wants its $47M breakup fee
(DBN Subscription Required)

When Cerberus bought GMAC, it was flying high, but soaring gas prices, a stumbling economy and a troubled housing market are threatening the firm's image as a master of tricky bailouts
(DBN Subscription Required)

Jones Day expects private equity deal volume to outpace expectations in the second half of 2008
(DBN Subscription Required)

______________

Plastics:

Portola files prepackaged Ch. 11
(DBN Subscription Required)

______________

 

New Bankruptcy Opinions
(2 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Chapter 7, 12 & 13 Private Trustee Locator
(DBN Subscription Required)

Recent Ch. 11 Filings
(DBN Subscription Required)

Bankruptcy Jobs:

(1), (2), (3), (4), (5), (6), (7), (8), (9), (10)
(DBN Subscription Required)

_____________

Mining:

Grupo Mexico Says Judge Rules No Fraud Committed in Asarco Sale
(DBN Subscription Required)

The Opinion (very large download)
(DBN Subscription Required)

Asarco's Mexican parent files plan
(DBN Subscription Required)

______________

Banking:

Another bank fails
(DBN Subscription Required)

Banks pounce on weak borrowers
(DBN Subscription Required)

CEO downplays Wachovia's woes
(DBN Subscription Required)

Wachovia to sell noncore assets?
(DBN Subscription Required)

Commercial banks prepare, reluctantly, to take centre stage.
(DBN Subscription Required)

Real Estate Lender Is 10th Bank to Fail This Year
(NYT: separate free registration required)

Goldman Buying Assets of Top Puerto Rican Bank
(NYT: separate free registration required)

Commerzbank to axe 9000 jobs
(DBN Subscription Required)

Iraq Bonds Safer Than Ohio Bank Debt Stung by Subprime Losses, Yields Show
(DBN Subscription Required)

The Bank Account That Sprang a Leak
(NYT: separate free registration required)

Every dollar counts as Citigroup turns Scrooge
(DBN Subscription Required)

______________

Aviation:

No autopilot for Delta CEO on merger, fuel costs
(DBN Subscription Required)

Frontier to Shed Five Gates, 2 Counters
(DBN Subscription Required)

Unions team up to press American Airlines
(DBN Subscription Required)

For Airlines, No End in Sight to Fuel Cost Struggles
(NYT: separate free registration required)

Alitalia seeks bankruptcy protection
(DBN Subscription Required)

Offer made for Alitalia assets
(DBN Subscription Required)

Alitalia break-up looms as it seeks bankruptcy protection
(DBN Subscription Required)

Maverick from Mantua climbing aboard at Alitalia
(DBN Subscription Required)

Air France, Morgan may invest in 'new' Alitalia
(DBN Subscription Required)

Alitalia cash to dwindle to 30-50 mln by Sept-end
(DBN Subscription Required)

Unions talk tough going into Alitalia meeting
(DBN Subscription Required)

Zoom bankruptcy highlights risks to airline customers
(DBN Subscription Required)

Collapsed Airline Zoom Claims Debts Were No More Than GBP25m
(DBN Subscription Required)

Zoom Airlines bankruptcy unlikely to be contagious
(DBN Subscription Required)

From Zoom to Gloom, which budget carrier will be next?
(DBN Subscription Required)

Zoom Airlines owes creditors $121.9 million
(DBN Subscription Required)

Lender balks at delays; Grob declares insolvency
(DBN Subscription Required)

Kremlin props up AirUnion with 24000t of fuel
(DBN Subscription Required)

Russian passengers stuck at Siberian airports over cash crisis
(DBN Subscription Required)

Imploding airline could strand thousands of Israelis
(DBN Subscription Required)

______________

Rating Agencies:

The subprime fiasco has put corporate credit-ratings on thin ice
(DBN Subscription Required)

______________

Trucking:

Jim Palmer Trucking wins cash use
(DBN Subscription Required)

______________

Convenience Stores:

Judge dismisses Horizon case
(DBN Subscription Required)

______________

Hotels:

Hotel Developer Lands in Red Ink, Despite Boldface Names
(NYT: separate free registration required)

______________

Bankruptcy Litigation:

New Article Examines Whether Wire Transfers Can Immunize Payments To Shareholders In LBOs
(DBN Subscription Required)

______________

Senior Debt:

Debt-laden retirees at mercy of economy
(DBN Subscription Required)

______________

UK:

U.K. Economic Slowdown 'Worst in 60 Years'
(DBN Subscription Required)

UK government plans housing market rescue
(DBN Subscription Required)

UK close to recession, says OECD
(DBN Subscription Required)

Consumers look to personal loans
(DBN Subscription Required)

Bonds rise in thin volumes on UK growth woes
(DBN Subscription Required)

U.K. Interbank Lending Declines 68% as BOE Measures Fail to Revive Markets
(DBN Subscription Required)

Mortgage Approvals in U.K. Drop to Nine-Year Low; Manufacturing Contracts
(DBN Subscription Required)

UK Consumers Face Hope Despite Increasing Risk of a Looming Financial Holocaust to Come
(DBN Subscription Required)

'Health Crunch' Faced By 11 Million Brits'
(DBN Subscription Required)

Scotland's largest independent laundry and dry cleaning business goes into administration
(DBN Subscription Required)

______________

EU:

What Happened In Europe?
(DBN Subscription Required)

______________

Japan:

Japan's Regional Banks Dodge Subprime, Face Bad-Loans
(DBN Subscription Required)

______________

New Zealand:

What becomes of the broke?
(DBN Subscription Required)

______________

Spain:

Spanish Retail Sales Decline for Eighth Month as Economic 'Crisis' Deepens
(DBN Subscription Required)

Spain's Colonial posts 2.38 billion euro loss
(DBN Subscription Required)

______________

S. Korea:

S.Korea warns of stern measures over won decline
(DBN Subscription Required)

______________

Argentina:

Kirchners Losing Argentina in Slump Leading to Default Crisis
(DBN Subscription Required)

______________

Canada:

Time for the insolvency bar to get artsy
(DBN Subscription Required)

______________

 

Please note that the Daily Bankruptcy News is primarily a news link gathering service.   This means that most of the headlines contained in the publication are a collection of links to stories posted on the Internet by various third party publications.  Such content is owned by third party sources, not the Daily Bankruptcy News, and in some cases, these links change or expire, which means you may not be able to view some news stories in prior editions of the Daily Bankruptcy News. The DBN subscription fee for access to certain links is not a fee for access to the content of the links, but is a charge for the considerable work involved in gathering, organizing and presenting the links. Use of this site and The Daily Bankruptcy News is subject to our Terms of Use.If you received the Daily Bankruptcy News via email (and you have a paid subscription account), to view a news story, click on the headline, and the story should open in your web browser. To view additional stories, click back to the email and click on additional headlines, which will cause new stories to open in your web browser.  You can view the Daily Bankruptcy News on the web by clicking here, or by going to BKINFORMATION.COM and clicking on the Bankruptcy News button.  Note that the Daily Bankruptcy News is distributed via "HTML email" in which the links to the news stories are embedded in the headlines.  The email you receive should look like a 3-column newspaper, with headlines for each story. If you receive the Daily Bankruptcy News by email and the copy you receive is not formatted like a 3-column newspaper, or does not seem to contain links to the news stories, you may have an email client that is not capable of receiving HTML email, or is not configured to display such email.  You can however, receive a daily email notifying you when the Daily Bankruptcy News is updated on the web site. If you would like to receive such an email, please let us know at admin@bkinformation.com.You can search the headlines from prior editions of the Daily Bankruptcy News by clicking here.

Advertising
Advertising is available in the Daily Bankruptcy News in a variety of places, formats and prices. Go to http://bkinformation.com/DBN_ADs.htm  for a list of choices.  Feel free to contact us with any questions.

Passwords
Access to certain links in the Daily Bankruptcy News is available only to readers holding a paid subscription.  These links are currently marked with a "DBN Subscription Required" notation. The cost of a subscription is $50/year, payable annually.  Volume discounts are available for sites with multiple users. Click here to see a schedule of discounts. Complimentary subscriptions are available for full-time educational and governmental employees and for full time students. For information about discounts or educational/governmental subscriptions, contact us by clicking here. A separate password is required for each member of a firm wishing access to restricted links. New readers can receive a free password good for 30 days by going to http://bkinformation.com/RegistrationForm.cfm. Readers who wish to change their passwords should go to http://bkinformation.com/ChangePasswordForm.cfm. Readers who have forgotten their password should go to http://bkinformation.com/GetPassword.cfm

Adding Your Email Address To The Distribution List
If you would like to start receiving the Daily Bankruptcy News by email each day, go to http://bkinformation.com/SubscribeDBNForm.cfm  and fill in the information requested.  There is no charge to be placed on the distribution list to receive the headlines, although access to many of the links behind the headlines requires a paid subscription (see above, under Passwords). If, after adding your email address to the distribution list, you do not receive an email confirming the addition, please contact us by clicking here for help.  

Removing Your Email Address From The Distribution List
If you already receive Daily Bankruptcy News by email and you wish to remove your email address from the distribution list, click here and send the email that should appear.  Note that the email must be sent from the same email address at which you are receiving the Daily Bankruptcy News. You do not need to type anything in the body of the email message.   If you do not receive an email confirming deletion of your email address from the distribution list  for the publication, contact us by clicking here for help.

Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C.  You can reach us at 281-242-6208 or at accounting@bkinformation.com (email inquiries are usually answered substantially more quickly than phone inquiries).