September 24, 2008

The Daily Bankruptcy News

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Law:

A Bailout Above the Law
(NYT: separate free registration required)

Goldman's Sprayregen sees bankruptcy boom
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Former S&C Partner Resigns from Bar for Bilking Clients, Firm
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Billable Hours Dropping, Survey Says
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Merger Mania: Seyfarth Shaw + Squire Sanders?
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Akin Gump Promotes Koopersmith to Firmwide Managing Partner
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Morgan Stanley Blames Credit Crunch in $17.6 Million London Subprime Suit
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Debevoise & Plimpton: Doing Well in the Downturn
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Times Are Bad, So Where's the Litigation Boom?
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Panel Clarifies Insurer's Obligation to Law Firm
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Wall Street Bailout Could Enhance, Expand Role of Law Firms
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Is Wachtell Now A Branch Of Government?
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In Suit Against Fund, Ameriprise Asks: Who Were the Tippees?
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Squire Sanders Task Force Guiding Clients Through Historic Market Events
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The Bailout And The Law
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Court Just About Back in Business After Hurricane Ike
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Law school corporation filing for bankruptcy
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Moonlighting: Public Lawyers Are Tending Bar, Working Construction to Tackle Law School Debts
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Attorneys Who Filed 300 to 500 Cases a Week Suspended for Faking Signatures
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Lawyers Still Unprepared for E-Discovery
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And you thought you were having a crappy day...
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Perfect Plush
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The Curious Case Of Randy: Part I
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Judges:

Former bankruptcy judge who drew media spotlight finds a new job
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Judge Who Used Sex Device in Court Disbarred
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Judge Kent trial scheduled
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Aviation:

Frontier battles to stay afloat
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Bedbugs infestations 'not seen in half a century' make a return via low-cost flights
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Airlines tougher on company travel
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Rome in final bid to save Italian airline
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Alitalia pilots express safety fears
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Investors meet govt official on Alitalia
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Olympic Airlines staff revolt
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Politics:

Bailout Plan a Hard Sell on Capitol Hill
(NYT: separate free registration required)

Top Senators Skeptical Of Bailout Plan
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Reid Seeks McCain Pledge
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Schumer, DeMint spar on bailout program
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Democrats and Republicans alike skeptical of Bush bailout plan
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Conservatives Unveil Recovery Plan
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Americans Oppose Bailouts, Favor Obama to Handle Market Crisis
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Following the Bailout Hearing
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Reacting to Paulson's Plan - Some lawmakers expressed support for a financial rescue plan, but one called it "un-American."
(NYT: separate free registration required)

Sen. Clinton: 'The country should look at some Great Depression-era type of governmental entity'
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Sen. Johnson says bailout should have "teeth"
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Historical revisionism for Senator Dole
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Wall Street still a game of Old Maid
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McCain Aide's Firm Was Paid by Freddie Mac
(NYT: separate free registration required)

Schumer asks about lower down payment on financial bailout
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Gingrich Slams Bailout Proposal
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Gingrich: Bailout Proposal a 'Dead Loser' on Election Day
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Lobbying Blitz Targets Leery Lawmakers
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Insider Compensation:

What those involved in the financial meltdown made
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Where's the CEO Love?
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Accounting:

Accounting For The Meltdown
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Banking:

Is the bailout enough to right-foot the banks?
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Vulture Investors Making Plans to Snag Weak Banks on the Cheap
(NYT: separate free registration required)

WaMu's suitors line up for talks
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WaMu's fate could be sealed over weekend
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A Small Distraction
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Boutique Banks to Cash In
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Is Goldman eyeing failed IndyMac?
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Defaulted Bank Loans Face Lower Recovery
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Bank of America's reach will be unbelievable with Merrill Lynch
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$10-15B In Fannie/Freddie Losses For US Banks
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Derivatives:

Credit Swaps Must Be Regulated Now, SEC's Cox Says
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US regulators push for oversight of credit swaps
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Regulators' moves insure more nerves for dealers in CDS
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Calls to curb credit derivatives market
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Resorts:

Liens Filed on Tamarack Resort
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Lenders claim Dyer Mountain
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West Galena to surrender Telluride
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Mass Torts:

Grace, claimants craft $1B plan
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Golf:

Wall Street Woes Are 'Major Concern' for PGA Tour
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Youth Debt:

Financial Tremors Shake Up Generation Y
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Sovereign Debt:

A Nation of Debtors
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TV:

Pappas gets stalking-horse bid
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Real Estate:

Government says U.S. home prices fell 5.3 percent
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MBA's Mortgage Applications Index Dropped 11% Last Week
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US Housing Prices Tumble on Home Mortgage Scarcity
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Bank of America Opts for Insider For Countrywide
(WSJ: separate paid subscription required)

Where Will Ex-Fannie GC Wilkinson Land?
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FBI investigating Fannie Mae and Freddie Mac for fraud
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Fooling Around With Fannie And Freddie
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Republicans Oppose Democratic Plan to Aid Burdened Homeowners
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Nobel Laureate Merton Says $4 Trillion Lost as Home Prices Fall
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Thornburg extends tender offer
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Lender Seeks to Lift Stay in SageCrest Bankruptcy
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Paralegal admits role in $80M real estate scheme
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Houston home sales suffer largest-ever decline
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Economy:

Bernanke Signals U.S. Should Pay More than Market for Bad Debt
(DBN Subscription Required)

Issue Is Payback, Not Bailout
(NYT: separate free registration required)

Chapter 11 as Metaphor: The Financial Systems Restructuring Act of 2008?
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Bernanke says US government would buy securities in undefined reverse auction
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Cash for Trash
(NYT: separate free registration required)

Bailout Auction Far From A Sure Thing
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If You Follow Only One Issue In This Bailout . . .
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Big names join queue for toxic asset auction
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Paulson Says Credit Crisis Spreads, Hurting Economy
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Devil in details in mother of all bailouts
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World banks pump more cash into tense markets
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Times Reporter Says Bernancke Lied
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Republican anger at 'financial socialism'
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Economists Protest Bailout
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The Bailout: Terms of the Debate
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The Bailout -- another perspective
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Bailout will encourage 'stupid' acts by big firms, says Wilbur Ross
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'Main Street' advocates looking for their bailout
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Blue-collar workers look for bail-out
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How can Paulson and Bernanke honestly negotiate a price for mortgage assets?
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Paulson eyes different methods to price debts
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US bailout critic likens its architects to communists
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Looking Back in Anger
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Bernanke Says Normal Markets Needed or Growth to Halt
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Congress told cost of bailout delay could be dire
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The Bush Bail-Out -- We Have Been Here Before
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Former IMF chief calls for global market regulator
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US recession likely in 2009: Property mogul Zell
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Recent grads face the harsh economic reality
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California economic outlook: worse to come
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Lehman:

Lehman Bankruptcy Hearing Held Surprises, According to Attorney Eyewitness
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Barclays May Cut 5000 Lehman Jobs
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Nomura deal saves 2,500 Lehman jobs
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PwC Administrators Help Sell Lehman Europe to Nomura
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Skadden, Linklaters, and Osborne Clarke Advising on Sale of Lehman International Assets
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Lehman D&O Risk Prompts Lawsuit
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Bankrupt Bankers and billion-dollar bonuses
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Lehman leaves hole in U.K. pension
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Lehman and the Bailout
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Lehman UK staff's pension fund in a hole
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Banks move to clean up OTC trade books post: Lehman
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Lehman clean-up passes clearing milestone
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Simmons scores first Lehman hedge fund claim
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Retailing:

This Season, Tense Times for Retailers
(NYT: separate free registration required)

Boscov's bankruptcy court documents sealed
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Linens 'n Things CFO leaves
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Credit Cards:

Warren: A Ray of Sunshine
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US House passes credit card reform bill
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Paper Products:

Cheboygan tissue plant seeks bankruptcy protection
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Education:

Bankruptcy Filing Today Not Expected To Impact Operation Of Law School
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Mining:

Court Approves ASARCO LLC Reorganization Plan Disclosure Statement
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Creditors to vote on Asarco bankruptcy exit plans
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Judge clears competing Asarco plans
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Asarco asks judge for $10.2 billion judgment against Grupo Mexico
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Corporate Reform:

FBI investigating companies at heart of meltdown
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Congress Gets a Sudden Taste for Oversight
(NYT: separate free registration required)

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Distressed Investing:

Buffett calls his bottom
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Finance:

Worries about GE Cap drag down the mother ship
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Food/Drink:

SouthEast Waffles, lenders in pact
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Health Care:

Surgical care at Kessler is worst in state
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Court Officer Urges Waterford Nursing Home Be Closed
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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
(DBN Subscription Required)

Bankruptcy Jobs:

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

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Bankruptcy Reform:

Bankruptcy Ploy
(WSJ: separate paid subscription required)

Mortgage Modification in Bankruptcy: Redux
(DBN Subscription Required)

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Wall Street:

Stocks pointed higher Tues. on Buffett-Goldman deal
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Stocks Sink Mon. On Bailout Bargaining
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Stocks Drop in Worst Two-Day Decline Since 2002
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Cox Urges Regulation Of Debt Insurance
(DBN Subscription Required)

No Bailout Would Mean "Carnage" for Markets: Analysts
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Wall Street Workers Find New Niches, or Move On
(NYT: separate free registration required)

Goldman Sachs to receive $5 bln investment from Buffett
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Morgan Stanley, Goldman Credit Swaps Rise on Bailout Skepticism
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Panic subsides in money-market funds
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Lazard making net gains from Wall Street woe
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Shorting ban raises liquidity fears
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Short-sellers have been the villain for 400 years
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Autos:

Delphi wins permission to freeze pension plans
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Automakers race election clock for loan deal
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Auto Loan Delinquency Rates Increased Slightly In Q2
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Auto financing bailout aid sought
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Arrow Speed to sell itself to rival
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Accounting:

National Road To Bankruptcy
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IASB calls credit crunch meeting
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Hedge Funds:

Hedgies should opt out of "no short" protection
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Hedge funds in fight to recover assets
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Hedge funds scramble to keep up
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Insurance:

AIG takes two-year $85 bln credit line from NY Fed
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AIG to Keep US Commercial, Foreign Life
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Investor group working with AIG to thwart Fed takeover
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Greenberg enlists help to possibly save AIG from the Fed's clutches
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Some AIG customers switching to other carriers
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AIG suspends quarterly dividend
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AIG UK says 'business as usual'
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Municipalities:

Alabama official admits to obstruction charge
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Gambling:

Cordish offers $700 million for Tropicana
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Tropicana CEO: Rival bid won't deter pursuit
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Furniture:

Oskar Huber files for bankruptcy
(DBN Subscription Required)

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Celebs:

Items related to Vick's child sold to pay his bills
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Guns & Money Take Center Stage In OJ Trial
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Utilities:

Lawsuits Piling up Over Constellation-MidAmerican Deal
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Credit Counseling:

Higher incomes seeking help
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Fraud:

UK, USA seen as more corrupt, world study says
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UK:

B&B Strikes New Mortgage Deal
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A former dotcom millionaire and his lost fortune
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Islamic Court Rulings are Enforceable in the United Kingdom
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40 Jobs Under Threat in Halliwells Redundancies
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EU:

Europe Confidence Drops as Financial Turmoil Worsens
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Mexico:

Mexicans feeling pinch as income stream from USA slows
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Brazil:

Brazil not immune to credit crisis fallout
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Japan:

Japanese Manufacturers are Pessimistic for a Third Quarter
(DBN Subscription Required)

Japan's Re-Plus files for bankruptcy
(DBN Subscription Required)

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Kuwait:

Turmoil leaves Kuwait a $270m Citi loss
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Hong Kong:

Hong Kong regulator rejects rumors that sparked run on local bank
(DBN Subscription Required)

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Canada:

Balance-sheet rebirths outside bankruptcy court
(DBN Subscription Required)

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Norway:

More bad news for Norway's huge pension fund
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Russia:

Bank of New York's $22.5 billion headache
(DBN Subscription Required)

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Australia:

In the Land of the Koala, Bailout Bypasses Villages
(NYT: separate free registration required)

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