July 22, 2009

The Daily Bankruptcy News

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Law:

Partner Fired for Not Meeting Billing Targets Sues Law Firm
(DBN)

Akerman Cutting Associate Pay by 10 Percent, Say Sources
(DBN)

Salary Cut Watch: Akerman Senterfitt Opens Books, Cuts Salaries
(DBN)

Mystery Meeting at Troutman Sanders
(DBN)

Ain't No Cure for the Summertimes Blues: More Firms Ax Plans for 2010
(DBN)

Weil Gotshal Paralegal Ad Is Bummer for Recent Law Grads
(DBN)

Welcome to the Future: Morgan Lewis Signals Armageddon
(DBN)

Too Much Free Time at Winston & Strawn?
(DBN)

Bankruptcy News Isn't All Bad: Recession's Grip May Be Weakening
(DBN)

Mortgage Modification: The Hottest Minefield in Legal Practice
(DBN)

Why I Won't Negotiate Loan Modifications
(DBN)

BlackBerry's Speed Can't Outpace Sanctions, Also "Fulsome"
(DBN)

Dreier's Apartment Fetches $8.2 Million at Bankruptcy Auction
(DBN)

Important Artifacts and Personal Property From the Collection of Marc Dreier
(DBN)

Making Sense of the Dip in Securities-Fraud Cases
(DBN)

Controversial Sanctions Ruling Now in 3rd Circuit's Hands
(DBN)

Attorney Sought Law Firm Job to Spy On Businessman, Regulator Says
(DBN)

Report Calls Legal Profession 'Socially Exclusive'
(DBN)

Lawyer Accuses Wal-Mart of ‘Counsel Shopping’ for Low Settlement
(DBN)

Former Rigas Defense Counsel Joins K&L Gates
(DBN)

Eight Reasons to Avoid Law School
(DBN)

ABA Journal Launches ‘Legal Rebels’ Project
(DBN)

'Crotchety' Lawyer of the Day: Johann Scott Scrimshire
(DBN)

Are Court Reporters a Thing of the Past?
(DBN)

Fed Judge Enjoins State Court Clerk on First Amendment
(DBN)

Phone rage over unsolicited calls leads to man's arrest
(DBN)

Missing UNLV Professor Says: 'I did not just disappear.'
(DBN)

On Rocking Chairs and Lawyer-Mentors: Life at UC Irvine Law
(DBN)

Say What?!
(DBN)

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Judges:

Democrats Confident on Sotomayor
(DBN)

Sotomayor Vote Delayed for a Week by Senate Panel
(DBN)

Lawyers Seek Order Barring Top Pa. Court from Destroying Juvenile Records
(DBN)

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Obituaries:

Retired bankruptcy judge Abramson dies in Georgia
(DBN)

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Wall Street:

US stock futures lower before bank earnings wave
(DBN)

Most US Stocks Fall as CIT Concern Offsets Bernanke's Remarks
(DBN)

BlackRock Profit Falls as Markets Drag Fees Lower
(DBN)

BlackRock Tops Estimates as Clients Add $15.2 Billion
(DBN)

Charges Crimp Morgan Stanley's Profit
(DBN)

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Layoffs:

National and State by State Unemployment Rates
(DBN)

Raises in ‘09 Were Smallest in Decades
(DBN)

Want a 6-Figure Salary? Be a Nanny
(DBN)

University of Michigan forecasts 15.8% jobless rate in 2010
(DBN)

Michigan's Underemployment Rate Hits 19.2%
(DBN)

Government Jobs Beckon the Unemployed
(DBN)

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Banking:

Comerica swings to loss as provisions grow
(DBN)

State Street posts loss after big charge
(DBN)

Wells Fargo's Second-Quarter Profit Rises on Surge in Mortgages
(DBN)

TARP cop wants bank accountability
(DBN)

Frank Says No “Villain” in Bank of America-Merrill Lynch Deal
(DBN)

Spying Probe at Deutche Bank Leads to Fall of Two Execs
(DBN)

What Illinois bank failures cost the FDIC
(DBN)

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Autos:

Bloom Says GM's Creditors Fared Better In Bankruptcy
(DBN)

Auto task force head warns against plan to restore closed dealers
(DBN)

Auto dealers push for bankruptcy relief
(DBN)

Auto task force under fire on dealer closings
(DBN)

Delphi auction is postponed again
(DBN)

Fate Of Delphi Plants Could Determine Sale
(DBN)

Lear Corp. bankruptcy trustee objects to bonus payments
(DBN)

CAW reaches deals with Lear for Ontario plants
(DBN)

Magna to revive former Chrysler Corp. HQ in Mich.
(DBN)

Robert Nardelli's New Job
(DBN)

Worst is over, Ford exec says
(DBN)

Mulally to GMAC: Start acting like a bank
(DBN)

Fired SKorean auto workers, riot police square off amid labor dispute
(DBN)

South Korea's Ssangyong: Too-small-to-survive?
(DBN)

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Resorts:

New Owner Brings Gambling To Greenbrier
(DBN)

______________

ARS:

Morgan Keegan Sued by SEC Over Sales of Auction-Rate Securities
(DBN)

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Ratings Agencies:

US releases new credit rating rules to curb power
(DBN)

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Politics:

Some Bailout Firms Up Lobbying Spending in 2Q
(DBN)

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Television:

Charter tried to sell itself before going bankrupt
(DBN)

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Telecoms:

Analysts puzzled by RIM interest in Nortel assets
(DBN)

Nortel: How a Fabled Company Fell So Far
(DBN)

RIM Lashes Out at Nortel
(DBN)

Ottawa urges Nortel, RIM to meet
(DBN)

MatlinPatterson Bids $750 Million for Nortel Assets
(DBN)

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Economy:

Americans Pay Back Debts Most Since '52 as Jobless Spur Savings
(DBN)

White House misses deadline on spending cuts report
(DBN)

Bernanke: The Fed’s Exit Strategy
(DBN)

Bernanke: Economy Is Better, But Rates To Stay Near Zero
(DBN)

World trade to shrink 10 percent, Asia leads recovery: WTO
(DBN)

Treasury to Buy Small Business Loans, Report Says
(DBN)

No Longer Alone, Ron Paul Fights the Fed
(DBN)

Lawmakers Say Treasury Keeping Taxpayers in Dark on Bank Rescue
(DBN)

Senior Democrats say Treasury needs to adopt recommendations from watchdog agency
(DBN)

Surprising Profits Built on Cost Cuts Show Steadying Economy
(DBN)

Robert Reich: The Economy Will Never Recover
(DBN)

Has TARP cost $2 trillion or $23.7 trillion?
(DBN)

TARP watchdog predicts shock and awe
(DBN)

Roubini: Recovery Will be Ugly
(DBN)

Uncle Sam lacks Midas touch in bailout investments
(DBN)

Economy Tracker Map
(DBN)

Recovery Index
(DBN)

______________

Real Estate:

Washington's Watergate Hotel fails to attract buyers
(DBN)

Title-Insurer Fees Draw Scrutiny
(DBN)

Morgan Stanley's Commercial Real Estate Portfolio Is The Worst On The Street
(DBN)

New Freddie CEO is in for some unpleasant on-the-job training
(DBN)

Securitization Group Wants Originators' Skin in the Game
(DBN)

How much does securitization hold up loan modification?
(DBN)

Bernanke Sees Foreclosures Peaking in H209
(DBN)

The Hottest and Coldest Real Estate Markets
(DBN)

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Bankruptcy Reform:

Bankruptcy Legislation May Be Back on Table
(DBN)

______________

Municipalities:

Detroit Schools on the Brink
(DBN)

California Closes $26 Billion Deficit
(DBN)

California budget deal to free 27,000 inmates
(DBN)

Anger...
(DBN)

Schwarzenegger Shrinks Calif. to Save It
(DBN)

NJ Faces $8 Billion Deficit in Fiscal 2011, Forecaster Says
(DBN)

In Flint, Unsafe Streets, Failing Schools
(DBN)

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Aviation:

Southwest Air Net Falls 83%, Says 1,400 Workers Take Buyouts
(DBN)

UAL and Continental plan cuts; Southwest sees weakness
(DBN)

US Airways expected to post 2Q loss; investors await word on demand and available cash
(DBN)

US Airlines Stung By Biz Travel Drop; More Cuts Coming
(WSJ: separate paid subscription required)

215 pilots take Delta buyout offers
(DBN)

Frontier's union victory overturned
(DBN)

UAL Cuts More Overseas Flying as Loss Beats Estimates
(DBN)

Alaska Airlines riding out turbulent times
(DBN)

Air Canada faces drastic restructuring, including layoffs
(DBN)

Ailing Airlines Still Need Aircraft
(DBN)

______________

Celebs:

Mortgage, Taxes Push Stephen Baldwin Into Bankruptcy
(DBN)

Stephen Baldwin Files for Bankruptcy
(DBN)

Warren Beatty Depo to be Videotaped, Del. Judge Rules
(DBN)

Should Antoine Walker Be Arrested for Bouncing Checks? (Should You?)
(DBN)

______________

Newspapers:

McClatchy doubles Q2 earnings
(DBN)

Too Diverse To Fail: Minority-Owned Newspaper To Get Bailout
(DBN)

Boston Globe agreement could attract buyer, but may not be cure-all for struggling newspaper
(DBN)

______________

Fraud:

Ex-WG Compliance Chief Duffy Pleads Guilty in Fraud
(DBN)

Suburban couple indicted in $40M Best Buy fraud
(DBN)

Fraud at record levels: KPMG
(DBN)

Judge reinstates Rather fraud claim against CBS
(DBN)

Montreal Financial Adviser Jones Remains in Canada, Globe Says
(DBN)

______________

Coal:

Peabody Energy Profit Falls 66% on Lower Coal Prices
(DBN)

______________

Corporate Reform:

Elizabeth Warren Defends The Consumer Financial Protection Agency
(DBN)

______________

Bankruptcy Statistics:

Business bankruptcies are climbing
(DBN)

Consumer Bankruptcy Filings up nearly 37 per cent through first half on 2009
(DBN)

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Retailing:

New York's Shuttered Storefronts
(DBN)

Ritz CEO Retains Chain In Auction
(DBN)

______________

Credit Cards:

Bank of America's Card Unit Reports Q2 Loss
(DBN)

Citi's Branded Credit Card Business Posts Q2 Loss
(DBN)

______________

Crime:

Where Have All the Criminals Gone?
(DBN)

______________

Insurance:

AIG Continues To Dismantle Itself
(DBN)

Syncora Completes Restructuring
(DBN)

______________

Oil/Gas:

SemGroup overhaul plan to go to creditors
(DBN)

______________

Hedge Funds:

Investor Says Hedge Fund's Returns Are Contrived
(DBN)

______________

Accounting:

KPMG Appoints William Haegele to Lead Restructuring Services In West
(DBN)

One in ten BDO partners to leave
(DBN)

Accountancy profession becoming 'closed shop' for rich
(DBN)

______________

 

New Bankruptcy Opinions
(2 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:

 

Should cramdown be available to underwater Chapter 13 debtors?

Yes
No



____________

Finance:

CIT Expects Loss of $1.5 Billion, May Seek Bankruptcy
(DBN)

CIT Isn't Out Of The Woods
(DBN)

CIT's Holdout Problem
(DBN)

Small Bondholders Soaked on CIT Internotes
(DBN)

CIT Credit-Default Swaps Jump on Doubt Loan Will Fix Lender
(DBN)

CIT spent $60,000 on federal lobbying
(DBN)

Jeff Peek, CIT Group CEO, Is A Hero
(DBN)

CIT CEO Peek: Three Strikes!
(DBN)

What is going on with CIT?!
(DBN)

There Will Be Bailouts
(DBN)

More evidence that CIT Bailout was not needed
(DBN)

Business loans not just CIT's problem
(DBN)

Bankruptcy still an option for CIT
(DBN)

GE Capital Debt Cut by Barclays on Inadequate Loan-Loss Reserve
(DBN)

Venture capital investment reportedly up in 2nd quarter
(DBN)

______________

Heavy Equipment:

Caterpillar Profit Exceeds Estimates; Shares Rise
(DBN)

______________

Tax:

Tax Row Squeezes Swiss Expats In Us
(DBN)Swiss Banks Freeze Out U.S. Clients
(WSJ: separate paid subscription required)

______________

Health Care:

The Unintended Consequences of Taxing Health Benefits
(DBN)

Pelosi seeks to spare middle class from health care tax
(DBN)

Senator Says Tax May Affect 'Cadillac' Health Plans
(DBN)

Democrats 'baffled' by president's health care stance
(DBN)

Studies show health insurance is one of the least competitive markets in the U.S., which may be why premiums are rising
(DBN)

Budget chief: Doctors fees not paid for
(DBN)

Town Hall Meeting On Health Care Gets Angry: 'You're going to fine me?'
(DBN)

______________

Deadlines:

43 Minutes Late Is Out, Circuit Rules
(DBN)

______________

Trucking:

Volvo Group Loses $725 Million
(DBN)

______________

Apparel:

Hartmarx sale hits snag
(DBN)

______________

Derivatives:

Probe sought of AIG creditor, counterparty treatment
(DBN)

______________

Pensions:

CalPERS Portfolio Loses 23 Percent, Worst One-Year Decline
(DBN)

US pension agency to take charge of Delphi plans
(DBN)

______________

Gambling:

New owners file suit to retain free use of Tropicana name
(DBN)

______________

Education:

Hard times at Harvard
(DBN)

______________

Fashion:

Lacroix Has a Buyer!
(DBN)

______________

Chemicals:

Chemical maker DuPont 2Q profit tumbles 61 pct on lower sales volume, restructuring charges
(DBN)

______________

Advertising:

Okay, Who Is Behind This Recession 101 Campaign?
(DBN)

Publicis Groupe Gets Good News On GM Account Exposure
(DBN)

______________

Lehman:

Hong Kong Banks Agree to Repurchase Lehman Minibonds
(DBN)

Lehman helped Watergate hit the auction block
(DBN)

Shopping for a Gift? Nothing Says "I Love You" Like a Lehman Brothers Windbreaker
(DBN)

______________

UK:

Lloyds to Write Down $82 Billion by 2010
(DBN)

BOE Voted 9-0 on Asset Plan as GDP Risks Diminished
(DBN)

BDO uses pre-pack to save 400 jobs at Allied Carpets
(DBN)

Famous fine art store in administration
(DBN)

Reaction to Insolvency Service reporting on first six months of pre-packs and SIP 16 compliance
(DBN)

Number of Scots going bust soars
(DBN)

UK Pub Closures Soar to Record, 24000 Jobs Lost, BBPA Says
(DBN)

______________

Canada:

We were there for GM and Chrysler. Why not for Nortel?
(DBN)

Just When Canada Thought It Was in Recovery...
(DBN)

Post-Takeover Layoffs Create Tension in Canada
(DBN)

______________

Italy:

Isae Cuts Forecast, Says Italian Economy to Contract 5.3% in '09
(DBN)

______________

Mexico:

Mexico Central Bank Will Prohibit Some Lender Fees
(DBN)

______________

 

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