August 11, 2009

The 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:

What Killed Venerable NY Firm?
(DBN)

Heller Profits That Weren't, and Checks That Were in the Mail
(DBN)

Ashurst set for restructuring boost with White & Case partner hire
(DBN)

Judge Slams Fee Deals In Energy Partners Case
(DBN)

The Problem with Houston
(DBN)

After BigLaw Meltdown, Lawyers Finding Jobs at Mid-Sized Firms
(DBN)

Paul Hastings Swipes Skadden Star
(DBN)

Paul Hastings Picks Up L.A.'s U.S. Attorney
(DBN)

Re: A new U.S. Attorney for Houston & the Southern District of Texas
(DBN)

Early Global 100 Rankings Show Clifford Chance Slipping
(DBN)

Linklaters takes top spot in Euro debt and equity capital markets rankings
(DBN)

Partners back move to merit-based pay
(DBN)

When Firms Collapse, What Happens to Their Leaders?
(DBN)

Rumor: King & Spalding Turning Associates into Staff Attorneys
(DBN)

Layoffs To Come At 'A Law Firm in Manhattan'
(DBN)

Lawyer Claims Motley Rice Committed Malpractice in His Malpractice Suit
(DBN)

Ninth Circuit Says 'Litigation Mills' = Bad (Well, Sometimes)
(DBN)

JPMorgan Stirs the Pot in Billion-Dollar WaMu Litigation
(DBN)

The Sacred, Immovable, No-Excuses Weekly Conference Call
(DBN)

DLA Piper relaxes grip on equity with 8 per cent partner increase
(DBN)

Hawaii Gives Up On UPL
(DBN)

AGs look to outside counsel amid states' budget woes
(DBN)

Layoff Expert Offers ‘A Kind Word’ to Worker, Helps the Boss Avoid Liability
(DBN)

Judge Criticizes Settlement Over Merrill Bonuses
(DBN)

Federal Judge Seeks Further Briefing in Bank of America Bonus Case
(DBN)

The Ups and Downs of the Solo Life
(DBN)

Legal Industry Lost 2,700 Jobs in July
(DBN)

Ex-AG Gonzales Shunned by Law Firms—and Apparently by Bush
(DBN)

19-Year-Old to Attend Northwestern Law School
(DBN)

The Class Action Avenger: Ted Frank's Cool New Job
(DBN)

A Boom in ‘Overtime’ Lawsuits? Blame Technology
(DBN)

Survivors say stunt left them twisted
(DBN)

Loud Yawn Lands Court Spectator in Jail for 6 Months
(DBN)

‘Garbage’ Suit Leads to Landmark Settlement
(DBN)

Disbarred Lawyer Charged Over Forged Document
(DBN)

A divided appeals court affirms jury's $14 million judgment against DA's office
(DBN)

Don't send the wrong message with a message tee
(DBN)

Say What?!
(DBN)

______________

Judges:

So, Is Sotomayor the First Hispanic Justice?
(DBN)

For Sotomayor, job may take getting used to
(DBN)

Blogger Accused of Threatening Judges Denied Bond
(DBN)

Uncle in Dutch: Judge Suspended Without Pay for Helping Kin Get Kinder Sentence
(DBN)

Expletive-Rich Tirade Ends in Suspension for Judge
(DBN)

Getting Electronics Into the Courtroom
(DBN)

______________

Wall Street:

Stocks wait for the Fed
(DBN)

US Stocks Fall on Valuations
(DBN)

Stocks Fall as Traders Lock in Profits After Rally
(DBN)

China stock exchange on a four-day losing streak
(DBN)

Analyst cuts rating on Berkshire Hathaway
(DBN)

Credit Suisse fined for violating U.S. research pact
(DBN)

Alarms on Wall St as KKR edges in
(DBN)

______________

Layoffs:

National and State by State Unemployment Rates
(DBN)

Average pay raise is likely to be below 2% in 2010
(DBN)

Labor sec'y says green jobs hiring will pick up
(DBN)

Shut Out at Home, Americans Go to China
(DBN)

An interactive map of vanishing employment across the country
(DBN)

"Compassionate Downsizing": You're Fired! Want a Hug?
(DBN)

______________

Aviation:

Southwest says submits binding bid for Frontier
(DBN)

Southwest raises offer for Frontier by 50%
(DBN)

Deadline day for bids on Frontier Airlines
(DBN)

Judge approves Eclipse sale date Aug. 20
(DBN)

Why Is Congress Paying $66 Million for a $49 Million Jet?
(DBN)

______________

Newspapers:

Why EW Scripps Is Spiking 28%
(DBN)

Journal Register Exits Chapter 11
(DBN)

______________

Hedge Funds:

Hedge Funds Rise 2.35% In July, But Now Trail S&P500
(DBN)

Texas Fund Manager Settles Insider-Trading Claims
(DBN)

AIG's Hedge Funds Rebound After $2 Billion in Losses
(DBN)

______________

Finance:

The CIT Bankruptcy Watch
(DBN)

CIT Delays Earnings, Bankruptcy Still Likely
(DBN)

EBay's Bill Me Later could be hit if CIT files for bankruptcy
(DBN)

Allied Capital Narrows 2Q Loss, Remains in Default
(DBN)

Allied Capital: Debt Restructuring "Very Expensive"
(DBN)

______________

Mail:

Your Corner Mailbox Could Be Stamped Out
(DBN)

Fixing the Mail: Neither Snow nor Rain nor…Red Ink?
(DBN)

______________

Credit Cards:

Study: Credit card debt hurts start-ups' chances of survival
(DBN)

______________

Corporate Reform:

National consumer protection agency would upend fragmented structure
(DBN)

The Consumer Financial Protection Agency
(DBN)

______________

Personal Finance:

When you become homeless, what happens to your dog?
(DBN)

Backyard chicken trend is sweeping the nation
(DBN)

How To Talk To A Bankruptcy Lawyer
(DBN)

How to Really Stretch a Dollar: The 15 Meals for $15 Challenge
(DBN)

Freegans: The Ultimate Anti-Consumers
(DBN)

______________

Shipping:

Maersk Shuts Lindoe, Maker of Biggest Container Craft
(DBN)

______________

Consultants:

Kurtzman Carson Consultants Recognized for Second Consecutive Year as a Best Place to Work in L.A.
(DBN)

______________

Photography:

Gamma's Bankruptcy Shows Shift in Photojournalism
(DBN)

______________

Taxis:

More Fliers Skipping the Cab
(DBN)

______________

Distressed Investing:

The Year of the Vulture
(DBN)

______________

Politics:

Why can't Congress fly commercial?
(DBN)

______________

 

 

Economy:

US recession seen ending in Q3, debate over recovery
(DBN)

Stimulus at Six Months: Boom or Bust?
(DBN)

Krugman: Big Government Saved Us From Something That Never Happened
(DBN)

Geithner Asks Congress to Increase Federal Debt Limit
(DBN)

Hall Says May Take More Than a Year to Deem US Recession Over
(DBN)

Why Did JP Morgan Decide To Send TARP Warrants To An Auction?
(DBN)

JPMorgan Chase's Jamie Dimon is taking an unusual tack in buying back the warrants Uncle Sam holds
(DBN)

1 in 9 Americans now receive food stamps
(DBN)

Cash-for-clunkers to boost July retail sales
(DBN)

Even sex tough to sell in this recession
(DBN)

Why we may not need all the stimulus
(DBN)

Hank, Is That You? It's Me, Lloyd
(DBN)

Two Out of Three Things Lost to the Recession Are Not Actually Important
(DBN)

Economic Stress Index
(DBN)

Economy Tracker Map
(DBN)

Recovery Index
(DBN)

______________

Real Estate:

US Underwater Mortgages May Reach 30%, Zillow Says
(DBN)

Freddie Mac Surges After Posting Profit, Spurning More Aid
(DBN)

Freddie Mac Says Its Loss From Taylor Bean May Be 'Significant'
(DBN)

Home Prices Down in 13 Major Markets
(DBN)

New mortgage aid idea: debt forgiveness, but with strings
(DBN)

On Lawyers Who Aren't: CT AG Warns of Foreclosure-Help Fraud
(DBN)

Countrywide Settlement Cost Bank of America $55 Mln
(DBN)

Maguire Properties to default on 7 properties
(DBN)

Maguire Properties says not considering bankruptcy
(DBN)

Maguire Loss Widens on Plan to Give Up EOP Properties
(DBN)

Maguire results show bad times for commercial real estate
(DBN)

CMBS delinquencies at $2bn per month
(DBN)

US CMBS delinquencies could exceed 5% by year end
(DBN)

Truth in Lending or Truth in Ownership of Residential Mortgage Notes
(DBN)

Dallas-Fort Worth preowned home sales fall just 7% in July
(DBN)

Economy casts shadow over Houston real estate
(DBN)

Sacramento-area prosecutors focus on mortgage fraud crime
(DBN)

First Horizon's Performance Earns It a Downgrade
(DBN)

When condos go broke
(DBN)

You don't have to pay for help avoiding foreclosure
(DBN)

Foreclosures bring out cleanup crews
(DBN)

Builders fear energy law could stall housing rally
(DBN)

Sidney B. Dunmore still looking for the next big chance
(DBN)

_____________

Autos:

Cerberus Chief Takes Stock of Chrysler Debacle
(DBN)

It's Not That Steve Feinberg Regrets Buying Chrysler...
(DBN)

GM Sees eBay as a Way to Reach New Buyers
(DBN)

When Bankruptcy Gets Tough, The Tough Turn To eBay
(DBN)

GM says mercury pollution not its problem anymore
(DBN)

GM's big challenge: Taxpayer payback
(DBN)

GM, No Longer Public, Will Voluntarily Report Finances To SEC
(DBN)

Govt. insurer PBGC takes over Delphi pension plans
(DBN)

GM's financing arm starts new leasing
(DBN)

Clunkers program worries charities
(DBN)

Clunkers program could be inflating prices of used cars, hurting the poor
(DBN)

Winners and losers under 'cash for clunkers'
(DBN)

Scrap yards see crush of work from 'clunkers'
(DBN)

Beijing Auto: Lucky to Lose Opel
(DBN)

______________

Trustees:

The Back-Door Politics Behind Trustees Pursuing Non-Exempt Assets
(DBN)

______________

Banking:

State Street May Exhaust $625 Million Legal Reserve
(DBN)

BofA lost money in US during 2nd-quarter
(DBN)

US judge wary of BofA bonus settlement with SEC
(DBN)

Lewis Faces More Merrill Queries as $33 Million Accord Delayed
(DBN)

Bad assets still threaten bank stability, congressional watchdog says
(DBN)

There's no guarantee, but there's still a Guaranty
(DBN)

Soured loans on South Florida condos sinking Corus Bankshares
(DBN)

Bad Loan Mess? Get a Woman to Clean It Up
(DBN)

What to do about overdraft fees?
(DBN)

Forever Unequal
(DBN)

______________

Celebs:

Bankruptcy looming for volatile super chef Gordon Ramsay?
(DBN)

Is this the final nail in Dykstra's coffin?
(DBN)

Bubble in bankruptcies even snares celebrities
(DBN)

Katherine Jackson: The $500 Million Woman?
(DBN)

Judge to Appoint Guardian Ad Litem for Jackson's 3 Children
(DBN)

Casino Says NFL Star Owes it $20,000
(DBN)

______________

Municipalities:

Detroit Mayor Dave Bing says city running out of cash, asks for union wage cut
(DBN)

California's Still Riskier Than Russia
(DBN)

California's Unemployment Fund Owes $2.6 Billion
(DBN)

Battle Over $25B Calif. Budget Cuts is Keeping Litigators Busy
(DBN)

CA state government hired 3,600 in past year
(DBN)

Jefferson County job tax legislative session may not go smoothly
(DBN)

______________

Hockey:

Glendale retailers wary of proposed Coyotes tax district
(DBN)

Balsillie wants to probe NHL's rejection of him as team owner
(DBN)

Balsillie, American Needle and the damage done
(DBN)

_____________

Jewelry:

On Finlay's Finale
(DBN)

Finlay Makes ‘Hot List’ Days Before Bankruptcy
(DBN)

______________

Oil/Gas:

SemGroup Energy Partners loses $1.7 million in first quarter
(DBN)

Posters speculate on 'another Oilexco'
(DBN)

______________

Food/Drink:

Bashas' Announces More Store Closings
(DBN)

Smooth sailing at San Diego Oceanaire
(DBN)

______________

Apparel:

Hartmarx completes $128.4 million sale
(DBN)

______________

Credit Reporting:

States weigh limits on credit checks for employment
(DBN)

______________

Tech:

Turning Out The Lights: LV Sensors
(DBN)

______________

Hotels:

InterContinental swings to loss
(DBN)

______________

Accounting:

E&Y Appreciates the Little People
(DBN)

Follow-up on PwC Layoffs
(DBN)

Rumor: Tax Layoffs to Come After Filing Deadlines?
(DBN)

______________

 

New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings
(DBN)

Bankruptcy Jobs:

(1)- (2)- (3)- (4)- (5)- (6)- (7)- (8)- (9)- (10)
(DBN)

This Week's Poll:

The recession is ending, but bankruptcy lawyers will remain busy for ____ years.

Click here to vote and see results

Last Week's Poll Results (GM-Gov't)

____________

Bankruptcy Statistics:

Consumer, Celebrity Bankruptcies May Hit 1.4 Million
(DBN)

AZ: July bankruptcies up 85% from 2008
(DBN)

Small-Business Bankruptcy Filings Up 81% in June
(DBN)

Atlanta small-biz bankruptcies spike
(DBN)

______________

Bankruptcy Humor:

Bankruptcy Bill
(DBN)

______________

Insurance:

Madoff-Linked Funds Sue Insurers Over Liability Costs
(DBN)

No hikes in accountants' legal cover says Marsh
(DBN)

Liddy Heads Into Retirement From AIG With '$1, a Few Bruises'
(DBN)

Lehman's Bermuda life insurance unit files for bankruptcy
(DBN)

The End of Hank Greenberg’s Legal Trouble?
(DBN)

______________

Mining:

Sterlite ups bid for bankrupt miner Asarco
(DBN)

______________

Pensions:

Pension managers pocketed $50M despite loss
(DBN)

______________

Fraud:

DOJ Looks for 'Rock Star' to Run Top-Priority Fraud Cases
(DBN)

Florida Regulators Turned Blind Eye to Stanford
(DBN)

Scam artists prey on debtors
(DBN)

Bernard Madoff, scoundrel
(DBN)

Nigeria's Scammers Working Harder in Recession
(DBN)

Corruption at Border Increasingly Evident
(DBN)

Enormous Prepaid Funeral Scam Alleged
(DBN)

Court allows third Westar trial
(DBN)

______________

Tax:

Swiss may allow UBS to turn over more names to IRS
(DBN)

UBS Tax Settlement Talks Stall
(DBN)

UK signs Liechtenstein tax deal
(DBN)

The IRS is Warm and Cuddly Again
(DBN)

______________

Gambling:

Greektown Casino: Waiting for the chips to fall
(DBN)

Atlantic City Casino Gambling Revenue Falls 13 Percent in July
(DBN)

Riviera talks continuing with creditors as $13.5 million loss reported
(DBN)

Distressed NJ casinos selling at bargain-bin rates
(DBN)

Trump faces formidable task in casino revival plan
(DBN)

______________

Executive Compensation:

Bonus Contracts Are Fine, but Bankruptcy Would Enforce Equity
(DBN)

Big Bonuses and the Future of the Financial Sector
(DBN)

______________

Entertainment:

Tough times in the ---- industry
(DBN)

______________

Health Care:

Do Hospitalists Improve the Quality of Care?
(DBN)

Prescriptions Not As Private As You Thought
(DBN)

______________

Mass Torts:

Judge Puts Chinese Drywall Cases on 'Rocket Docket'
(DBN)

______________

Telecoms:

Nortel Again Faces the Auction Block and Parliament
(DBN)

Ambition gave way to a harsh reality: Pearce, Zafirovski
(DBN)

Nortel CEO steps down
(DBN)

Exec: RIM Felt “Snookered” in Nortel Process
(DBN)

Politicians will put Nortel under scrutiny at meetings
(DBN)

______________

Derivatives:

A Level 3 problem at Goldman Sachs?
(DBN)

Thomson $2 Billion Swaps to Face Credit Event Ruling
(DBN)

Derivatives At Bankruptcy: Saving Small Firms From The Safe Harbor
(DBN)

______________

UK:

UK Gilts Climb on Concern Recession May Persist; Pound Slides
(DBN)

Bankers Seek London Panel to Referee Debt Workouts
(DBN)

More self-employed workers are becoming bankrupt, PwC says
(DBN)

MG Rover Collapse Won't Be Probed by UK Prosecutors
(DBN)

Glasgow Is UK's Laziest City
(DBN)

Britons settle for second best
(DBN)

Repossessions by sub prime lenders on the rise
(DBN)

E&Y doubts over Borders as going concern
(DBN)

Companies crack down on risky suppliers
(DBN)

______________

EU:

Latvia's rating cut as GDP falls 19.6%
(DBN)

______________

Canada:

Canada's Flaherty Says G-20 Should Maintain Stimulus
(DBN)

Canada's Life Insurers Push for Pension Changes
(DBN)

Go Travel takes vacation
(DBN)

______________

Ireland:

Ireland prepares to reshape its banking system
(DBN)

Examinership, Receivership and Liquidation - What's the difference?
(DBN)

______________

Japan:

Rise in bankruptcies in July signals credit crunch still in effect
(DBN)

Bank of Japan May Focus on Risks to Recovery, Keep Rate at 0.1%
(DBN)

______________

Netherlands:

Van der Moolen Seeks Payments Suspension, Posts Loss
(DBN)

Liquidity Provider Van der Moolen Files Bankruptcy Due To Lack Of Liquidity
(DBN)

______________

Germany:

Escada Will File for Insolvency If Bond Swap Fails
(DBN)

Berlin Stasi Museum on Brink of Bankruptcy
(DBN)

______________

Iceland:

Iceland hits impasse over lost savings
(DBN)

Report Questions Lending of Iceland Bank
(DBN)

______________

Middle East:

Dubai needs law reform
(DBN)

______________

Poland:

Number of Polish firms' bankruptcies seen rising by 26% in 2009.
(DBN)

______________

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. Click here for details  Feel free to contact us with any questions.

Passwords/Subscriptions
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 $55/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 clicking here. 30-day passwords are not available to readers who have previously had a password, even if the password was associated with a different email address used by the reader. Refunds are not available after purchase. Readers who wish to change their passwords should click here. Readers who have forgotten their password should click here.

Adding Your Email Address To The Distribution List
If you would like to start receiving The Daily Bankruptcy News by email each day, click here, 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 The 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 which is on our distribution list (if receive the publication forwarded from an older email address, you will need to contact us as described below for help removing that older address from our distribution list). 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, contact us by clicking here for help.

The Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C.  You can reach us at 281-402-3957 or at accounting@bkinformation.com (email inquiries are usually answered substantially more quickly than phone inquiries).