August 21, 2009

The Daily Bankruptcy News

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Law:

Survey Says . . . BigLaw Getting Used to the Lousy Economy
(DBN)

The Good News: We Have Work! The Bad: We Need You To Do It!
(DBN)

Layoff Watch: Curtis Mallet Cuts Corporate Associates
(DBN)

Has BigLaw Turned the Recession Corner? Yeah, But . . .
(DBN)

Associates Survey 2009: How Do You Get Along with Your Partners?
(DBN)

Online Tool Sheds Sunlight on Court Records
(DBN)

Clifford Chance fights landmark layoff claim from former partners
(DBN)

Firm apologizes for galactic layoff screw-up
(DBN)

Rumor: Curtis Lays Off Corporate Associates
(DBN)

Losing a Zero
(DBN)

Does the Legal Market Suffer the Same Over-Consumption as Health Care?
(DBN)

GCs say the pressure's on to kill the billable hour. But has it reached the tipping point?
(DBN)

Shopping Mall Heiress Sues Neal Gerber, Alleging Massive Misconduct
(DBN)

The Lawsuit
(DBN)

Hung Out to Dreier: A Colorful List of Victims
(DBN)

Swiss Attorney Charged in UBS Case; US Lawyers Could Be Targeted, Too
(DBN)

Weil Seeks $100M in Lehman Case, Identifies Hardest Working Associate
(DBN)

Morgan Lewis Tops List of Go-To Law Firms for Fortune 100
(DBN)

Chrysler's legal chief didn't enjoy the automaker's race through bankruptcy court
(DBN)

More on the Textron Decision, In-House Lawyers’ Latest Worry
(DBN)

ACC President Says Tax Ruling ‘Eviscerates the Work-Product Doctrine’
(DBN)

Federal Judge Boots Law Firm from Case for Hiring the Wrong Associate
(DBN)

Yale Law Women Name Top 10 Family-Friendly Firms
(DBN)

'Sex and the City' Coming to Hogan & Hartson
(DBN)

Lawyer Guilty of Witness Tampering in Drug Case
(DBN)

2 Lawyers Convicted in Witness-Tampering Case, Could Face Life in Prison
(DBN)

Accused Pot Dealer Says Law Prof Stepdad Helped Build Grow Room, Shared Profits
(DBN)

The Ungrateful Tattletale
(DBN)

Lawyer of the Day: Michael Lukehart
(DBN)

Moritz College of Law Student Investigated For Embezzlement
(DBN)

Trial Lawyers For Justice Defends Family Photo Request
(DBN)

Lawyer Travels Cross-Country on Route 66 by Bike and on Foot
(DBN)

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Judges:

NY Judge-Turned-Convict Granted Early Parole
(DBN)

Judge's Death From Courthouse Mold Ruled Not Worth More Than $1,000 Under Law
(DBN)

Dozens of Judges Are Getting LinkedIn
(DBN)

Hal Turner: Did He Threaten Federal Judges?
(DBN)

A Peek Into the Second Batch of Rehnquist Papers
(DBN)

Supreme Court Names Sotomayor's Law Clerks
(DBN)

Former Pa. Judges Ask for Reconsideration of Rejected Pleas
(DBN)

Judge Betty's Revenge
(DBN)

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Wall Street:

Index Futures Advance
(DBN)

Financials lead stocks upward
(DBN)

The Rage over Goldman Sachs
(DBN)

Credit concerns rise as stock market tests highs
(DBN)

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Layoffs:

National and State by State Unemployment Rates
(DBN)

Up to 1,100 employees are expected to be cut from paper company Stora Enso
(DBN)

Accenture Laying off Some 336 Executives
(DBN)

Selection and Communication in Layoff Planning: The Cornerstones of a Successful Reduction in Force
(DBN)

NYC's jobless rate higher than the nation's
(DBN)

Workplace suicides surge by 28 percent
(DBN)

Morgan Stanley plans hiring spree: source
(DBN)

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Autos:

Obama criticizes Bush's 'blank check' to GM, Chrysler
(DBN)

Traders Keep Buying Old GM Stock, Despite Warnings
(DBN)

Dealers stiffed as clunkers pile up
(DBN)

GM to give dealers cash advances on 'clunkers' deals
(DBN)

Cash for Clunkers Success Limited by Program Flaws
(DBN)

U.S. Says "Cash-for-Clunkers" Program to End Monday
(DBN)

'Clunkers' Program Has Processed 37% of Applications
(DBN)

Merkel skeptical of RHJ's chances with Opel
(DBN)

CAW members approve GM deal
(DBN)

Italian Bailout Bonanza Lets Maserati Designer Skirt Bankruptcy
(DBN)

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Private Equity:

What's Holding Back The Tidal Wave of PE-Backed Bankruptcies?
(DBN)

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Tax:

US Indicts Swiss Banker and Lawyer on Tax Charges
(DBN)

UBS Settlement With US Comes As Relief To Swiss
(WSJ: separate paid subscription required)

Phil Gramm and the UBS Tax Case
(DBN)

Ex-Wives and Others Eagerly Await the UBS Tax-Cheater List
(DBN)

Droves of Americans declare offshore accounts
(DBN)

Tables turned on US tax cheats
(DBN)

NY Eyes UBS Tax Cache
(DBN)

IRS Extends FBAR Filing Deadline for U.S. Investors in Offshore Investment Funds
(DBN)

The IRS's European Vacation
(DBN)

How Much Should You Reveal to the IRS?
(DBN)

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Insurance:

AIG Customers Sue Insurer for Not Covering Bernard Madoff Fraud Losses
(DBN)

Homeowners' Insurance Coverage for Madoff Losses?
(DBN)

AIG's Renaissance Plan Could Succeed But It Isn't A Slam Dunk
(DBN)

New AIG CEO says expects to repay taxpayers
(DBN)

Insurers can pursue subrogation of WTC losses: Judge
(DBN)

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Economy:

US Leading Economic Index Rose 0.6 Percent in July
(DBN)

Philadelphia Factory Gauge, Leading Index Rise
(DBN)

Jobless claims in surprise rise
(DBN)

Geithner Sees `First Steps to Recovery' as Jobs, Housing Market Stabilize
(DBN)

Mortgage Delinquencies Break Record In Q2
(DBN)

Bernanke's tough task: Withdrawing emergency aid
(DBN)

Why Obama May -- or May Not -- Reappoint Fed Chairman Bernanke
(DBN)

Defining 'Too Big to Fail'
(DBN)

For companies, mountains of cash show high anxiety
(DBN)

In New Hampshire, 700 of 796 stimulus jobs are state workers
(DBN)

Economic Stress Index
(DBN)

Economy Tracker Map
(DBN)

Recovery Index
(DBN)

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Real Estate:

Mortgage delinquencies hit record high in Q2
(DBN)

Lost jobs, prime fixed loans now driving foreclosure starts
(DBN)

Mortgage Modification Investor Lawsuit
(DBN)

While Debt Mounts, Couple Chases BoA Loan Mod
(DBN)

Can Vanished Real Estate Wealth Return?
(DBN)

Foreclosures expected to peak at end of 2010
(DBN)

HAMP Creates Cash Flow Implications for Securitization
(DBN)

Complaining to HUD about Servicing: Thunder on Deaf Ears?
(DBN)

New REITs Pounce on Distressed Mortgage Assets
(DBN)

NY's mortgage woes worsen
(DBN)

Has President Obama's Mortgage Modification Plan Failed?
(DBN)

Foreclosure Belt Congressional reps want more loan mods
(DBN)

Flagstar may have to sell collection contracts at loss
(DBN)

Law Doesn’t Insulate Countrywide From Lawsuits, Court Rules
(DBN)

Bucksbaum heiress sues over losses
(DBN)

Florida leads nation in rate of mortgage troubles
(DBN)

Study: Homeowners In Foreclosure Suffer From Depression
(DBN)

A Tale of Two Subprime Decisions
(DBN)

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Hockey:

Felons yes, Balsillie no
(DBN)

Melnyk fires salvo at Balsillie
(DBN)

Balsillie 'desperate', says Senators owner
(DBN)

Coyote case has pro leagues on edge
(DBN)

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Municipalities:

Could Municipal Bonds Lose Their Tax-Exempt Status?
(DBN)

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Banking:

Banks Trim Borrowing From Emergency Fed Program
(DBN)

Rules for private-equity firms eyeing failed banks get vote next week
(DBN)

Spain's BBVA Wins Auction to Buy Failing Texas Bank
(DBN)

F.D.I.C. Seeks to Attract More Buyers of Banks
(DBN)

KPMG warns banks face more losses
(DBN)

Most Banks Are Failing the Old-School Way
(DBN)

Tax haven gone, Swiss banks to use safe haven allure
(DBN)

Swiss banks give a little but still have bloody hands
(DBN)

Swiss Fortunes in Doubt
(DBN)

Swiss govt turns a profit on UBS stake sale
(DBN)

Morgan Stanley gatecrashes Swiss affair on UBS sale
(DBN)

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Credit Cards:

Banks Cut Credit for 58M Card Holders in 1 Year
(DBN)

A Closer Look At The New Credit Card Rules
(DBN)

New credit card rules may be too late
(DBN)

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Aviation:

A New Frontier
(DBN)

Interview: Republic chief executive Bryan Bedford
(DBN)

Judge Approves Deal to Save NM Jet Maker
(DBN)

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Health Care:

The Recession Will End . . . When Small Businesses Can Afford Health Care
(DBN)

The Medical Bankruptcy Myth
(DBN)

Some Thoughts On Health Care Studies And Bankruptcy
(DBN)

Obama guarantees health care overhaul will pass
(DBN)

Matt Taibbi Tangles With Maria Bartiromo Over Health Care
(DBN)

Obamacare could cost you $4,000 a year
(DBN)

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Fraud:

Former Stanford employee talks about sales pressure
(DBN)

Investors, Turnaround Professionals, and Fraud: "First Do No Harm"
(DBN)

Madoff Trustee Tells Court Two Offshore Firms Ignored `Clawback' Lawsuits
(DBN)

Scrushy's Antiques, Silverware Sought by Investors Who Won Fraud Verdict
(DBN)

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Cross-Border:

Recent Case Law on Cross-Border Guarantees
(DBN)

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Hotels:

Recession hits Houston hotel occupancy
(DBN)

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Debt Collection:

The current economy is prodding finance executives to try to detect potential deadbeats by using such things as automated alert systems.
(DBN)

State Cracks Down on Debt Collectors
(DBN)

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Television:

Ion Media Seeks Approval of Bankruptcy Reorganization Plan in New York
(DBN)

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Finance:

The Changing Shape of Distressed Financing
(DBN)

CIT Bonds Sold to Widows Have Fine Print That Pimco Resists
(DBN)

Seeing Upside for CIT Bondholders
(DBN)

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Telecoms:

RIM wants new rules on Nortel
(DBN)

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New Bankruptcy Opinions
(1 new opinion 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:

Have pre-plan sales of substantially all assets become the norm in Chapter 11 in lieu of reorganizations?

Click here to vote and click here to see results

Last Week's Poll Results (How Long Will Bankruptcy Practice Stay Busy)

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Mass Torts:

Will Number 25 Be The Charm?
(DBN)

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Retailing:

Sears Loses $94 Million in Q2, Closes 28 Stores
(DBN)

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Accounting:

FASB Rethinks Lawsuit-Accounting Plan
(DBN)

Get Ready for a Fair-Value Showdown
(DBN)

Not Ideal Timing KPMG
(DBN)

PwC Thinks it Can Dance
(DBN)

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Newspapers:

A Death Foretold
(DBN)

News CEO Murdoch compensation drops to $18 mln
(DBN)

Tribune Memo: No Liquidation, But Ownership Structure ‘Likely To Change’
(DBN)

Report: Tribune employees to get shortchanged
(DBN)

Philly Newspapers File Debt-Free Bankruptcy Plan
(DBN)

Bankruptcy Plan Calls for Philadelphia Papers to be Sold to Local Investors
(DBN)

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Magazines:

Reader's Digest Secures Approval for Bankruptcy Plan
(DBN)

Reader's Digest Bankruptcy Derails Collins's Media Ambitions
(DBN)

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Education:

Ethics and the MBA Degree
(DBN)

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Corporate Reform:

US CFTC and UK FSA Will Jointly Monitor Markets
(DBN)

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Telecoms:

Turning Out The Lights: Sequoia Communications
(DBN)

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Hollywood:

How Hollywood Gets Hit By Recession
(DBN)

What Happens When Upwardly Mobile Couple Hits Hard Times
(DBN)

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Distressed Investing:

The Boys are Back in Town: Hedge Funds are Trading Distressed Debt Again
(DBN)

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Oil/Gas:

Oil Prices Dip on Report of Rising Jobless Claims
(DBN)

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Personal Finance:

Rise of the Super-Rich Hits a Sobering Wall
(DBN)

How to Save Money on Almost Anything
(DBN)

Pawn shops' shelves reflect hard times
(DBN)

Thrifty home growers cultivating backyard crops
(DBN)

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Turnarounds:

Economic Conditions for Turnarounds Should Improve in 2009 and 2010
(DBN)

Turnaround Candidates in PEGs Portfolios: Hear No Evil, See No Evil is Not a Good Strategy
(DBN)

Liberating a Business from its History: The Turnaround of Dana Corporation
(DBN)

From Liquidation Planning to Turnaround of the Year
(DBN)

The Impact of Commodities and Currency Pricing on Restructurings
(DBN)

The Role of the Customer in Turnarounds
(DBN)

Team-Based Incentive Compensation Is Vital to Successful Operating Turnarounds
(DBN)

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Pensions:

State Pension Funds Down 59% On Private Equity Bets
(DBN)

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Halloween:

Now here's a horror story
(DBN)

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Credit Counseling:

Texas attorney general seeks $4.6M for Debt Relief USA customers
(DBN)

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Gambling:

Atlantic City casino profits down 19.8 percent in second quarter
(DBN)

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Packaging:

Caraustar Emerges From Bankruptcy ; Cut $135 Million In Debt
(DBN)

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Celebs:

Demand too low to stock Vick jerseys
(DBN)

Only athletes get a second chance in the NFL
(DBN)

Tyson wins $1.2 million in bankruptcy court
(DBN)

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UK:

S&P Sees UK's Countrywide on Path to Default
(DBN)

U.K. Budget Deficit Soars to Record $13.2 Billion as Recession Hits Taxes
(DBN)

UK firms coping with recession poorly
(DBN)

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EU:

German Services, French Industry Unexpectedly Grow
(DBN)

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Mexico:

Mexican economy shrinks by 10.3% in 2Q
(DBN)

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Russia:

Russia's July Retail Sales Post Biggest Decline in 10 Years With 8.5% Drop
(DBN)

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Hong Kong:

Hong Kong July bankruptcies up 36 pct yr/yr
(DBN)

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