July 29, 2009

The Daily Bankruptcy News

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Law:

Schulte Sues Highland Over Legal Bills
(DBN)

Good News for Ropes & Gray's Future Associates
(DBN)

Q&A With Kirkland & Ellis' Richard Cieri
(DBN)

Stars Align for the Door: BiCoastal BigLaw Firm Losing Major Partners to NY Rivals
(DBN)

Is the Economy Turning Around for Law Firms?
(DBN)

SJ Berwin posts near-50% PEP drop
(DBN)

The "Happiness" Of Your Lawyers
(DBN)

Law Firm Sees Big Reduction in Rent
(WSJ: separate paid subscription required)

Depressed After 3rd Child's Birth, Successful Partner Committed Suicide
(DBN)

Feds in Bank Fraud Case Drop All Charges Against Former Greenberg Partner
(DBN)

Putting the Liability Back Into Limited Liability: Partners On the Hook for Dead Firm's Lease
(DBN)

The Shortest Allegedly Defamatory Statement in History?
(DBN)

City to Pay $55K to Bait Shop Ticketed for Displaying US Constitution
(DBN)

Home Restoration Client May Be Money Pit for Law Firms
(DBN)

The Law Gives Up on Beatty Chadwick
(DBN)

Debevoise Nabs Two Banking Partners From Goodwin
(DBN)

Entertainment Law Boutiques Find Deals Are Drying Up
(DBN)

Big Names Weigh In on Attorney-Client Privilege Issue
(DBN)

Orrick's Free Term Sheet Generator and Forms Library Aimed at Entrepreneurs
(DBN)

Some Top Law Firms Will Not Interview At Yale
(DBN)

Law Student of the Day: UVA Law Student Spitter
(DBN)

Warning to students: legal career may be too risky
(DBN)

DePaul law cleared over funding issues
(DBN)

Governor Line-Items Hastings, Leaves Court Funding Alone
(DBN)

Yelp Rates Jury Duty
(DBN)

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Judges:

The Biggest Loser: Fired Judge in $54 Million Pants Suit Loses Again, Can't Get Job Back
(DBN)

Sotomayor Moves Closer to High Court
(DBN)

Senate Panel Endorses Sotomayor in 13-6 Vote
(DBN)

Indicted for Threatening 7th Circuit Judges, Web Talk Show Host Looks to First Amendment Defense
(DBN)

Court Refuses to Dismiss Indictment Against Former Judge
(DBN)

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Wall Street:

Stock futures signal losses
(DBN)

Stocks ended mixed
(DBN)

Goldman's near-death experience
(DBN)

How Firms Wooed a U.S. Agency With Billions to Invest
(DBN)

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Layoffs:

National and State by State Unemployment Rates
(DBN)

Virginia Department of Transportation To Cut 600
(DBN)

GM's Opel Workers See as Many as 22,000 Job Cuts
(DBN)

Avtovaz, Largest Carmaker in Russia, Considers Laying Off 27,000 Workers
(DBN)

ATK Space Systems Laying Off 450
(DBN)

Element Six Cutting 370
(DBN)

United Launch Alliance Cuts 224
(DBN)

Yahoo plans to layoff 675 employees
(DBN)

Job woes sap US consumer confidence in July
(DBN)

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Autos:

New auto czar defends U.S. bailout
(DBN)

Chrysler, GM battle for future
(DBN)

Auto taskforce hearings reveal much
(DBN)

GM Media Roundup
(DBN)

Delphi Agrees to Sell Assets to Lenders
(DBN)

Stant Corp., Car Fuel-Systems Maker, Files Bankruptcy
(DBN)

'Clunker' confusion: EPA changes MPG figures
(DBN)

BMW Offers $4500 Rebates on Diesels as 'Clunker' Plan Begins
(DBN)

Auto recyclers leery of cash for clunkers
(DBN)

A peek into the automotive future
(DBN)

German governor: Magna adjusts Opel offer
(DBN)

Magna sweetens Opel bid, but not on GM concerns
(DBN)

Honda, Nissan Post Better-Than-Expected Earnings on Stimulus
(DBN)

Big Losses at Two European Automakers
(DBN)

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Oil/Gas:

Regulator Weighs Limits on Some Energy Trades
(DBN)

CFTC Weighing Strict Position Limits on Energy, Gensler Says
(DBN)

SemGroup creditors ask to see bank data
(DBN)

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Finance:

CIT's Best Option Is Prepackaged Bankruptcy , CreditSights Says
(DBN)

CIT, Heal Thyself
(DBN)

Costs to insure GE Capital's debt fall
(DBN)

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Retailing:

Office Depot loss widens, stock plunges 20 percent
(DBN)

LVMH Net Misses Estimates on 'Massive' Inventory Cuts
(DBN)

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Fraud:

Madoff Trustee Can Sell Share in Jet, Judge Rules
(DBN)

Tuesday With Bernie: Plaintiffs' Lawyer Talks to Madoff in Prison
(DBN)

Allen Stanford on His Life in Jail: ‘Conditions Are Intolerable’
(DBN)

Prison Consultants Help Madoff, Other White-Collar Inmates Get Good Digs
(DBN)

Prosecutor: Carter 'lied and cheated' as Dynus owner
(DBN)

Judge Approves WexTrust Capital Distribution Plan
(DBN)

Fraud victim loses cool
(DBN)

SEC Halts $50 Million Detroit Ponzi Scheme in Real-Estate Fund
(DBN)

SEC accuses Southfield business owners of running Ponzi scheme
(DBN)

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Municipalities:

Indiana State Legislature May Act to Help Towns in Debt
(DBN)

Law won't let town file for bankruptcy
(DBN)

California Balances Budget with Tricks
(DBN)

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Insurance:

AIG Sells Insurance Financing Unit for $679.5 Million
(DBN)

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Economy:

Home Prices Rise, Consumer Confidence Declines More Than Forecast
(DBN)

The consumer confidence fake out
(DBN)

Where Bailout Money Goes to Die
(DBN)

Fed's Yellen Sees 'First Solid Signs' of End to US Recession
(DBN)

US Children Likely Worse Off Due to Recession
(DBN)

Geithner, Wang Seek 'More Balanced' Global Economic Growth
(DBN)

The War on TARP Watchdog's Independence
(DBN)

Economy Tracker Map
(DBN)

Recovery Index
(DBN)

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Real Estate:

Home prices up for 1st time in 3 years
(DBN)

Recovery Signs in Housing Market Stir Some Hope
(DBN)

Bottoming in Home Prices?
(DBN)

Home Prices in 20 US Cities Climbed in May From April
(DBN)

A Look at Case-Shiller Numbers, by Metro Area (July 2009 update)
(DBN)

CMBS: 'Bankruptcy Remote' Is Not 'Bankruptcy Proof'
(DBN)

CMBS delinquencies skyrocket 585%
(DBN)

Developer Bruce Stark files for bankruptcy
(DBN)

Mortgage Servicers Pledge to Step Up Pace of Loan Modifications
(DBN)

Mile High Mortgage Brokerage "Disaster"
(DBN)

Study Finds Underwater Borrowers Drowned Themselves with Refinancings
(DBN)

Closings, cutbacks, defaults, or bankruptcy news
(DBN)

Landamerica creditors miffed by new Fed hire
(DBN)

Lenders, Realtors Divided on Arizona Foreclosure Law
(DBN)

Pressed by White House, Mortgage Servicers Vow More Modifications
(DBN)

Tables Turned: Contractors Now at Homeowners' Mercy
(DBN)

As Prices Plummet, Condo Sales in Miami Perk Up
(DBN)

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Banking:

BofA To Close 10% of 6,100 Branches
(DBN)

Bank of America Will Cut Branches, Add Services
(DBN)

Bank of America branch closings reflect economics
(DBN)

Colonial gets cease and desist order from Fed
(DBN)

Ross Says 'Never Again' on Banks Under FDIC Rules
(DBN)

Report: FDIC Bailout Will Save Banks $24 Billion
(DBN)

Deutsche Bank, BBVA show bad debts strain
(DBN)

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Tax:

UBS Client Pleads Guilty to Fraud
(DBN)

Judge to get update on IRS lawsuit against UBS
(DBN)

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Tech:

NanoDynamics files for Ch. 7 bankruptcy
(DBN)

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Ethics:

Could a bank ask a bankruptcy judge to demand a kidney donation in order to pay off a loan?
(DBN)

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Distressed Investing:

Eola Capital on hunt for distressed properties
(DBN)

______________

Health Care:

CIT's problems rock NY health care community
(DBN)

NASDAQ pounds another nail into Biopure's coffin
(DBN)

Low Earners Trail in Health Plans
(DBN)

______________

Hockey:

NHL BOG To Carefully Consider Ice Edge's Bid For Coyotes
(DBN)

Balsillie, NHL meet Wednesday
(DBN)

______________

Telecoms:

FairPoint reshuffles debt
(DBN)

Flextronics withdraws objections to Nortel asset sale
(DBN)

Nortel wireless sale to Ericsson goes to court
(DBN)

Concern about Nortel slim: poll
(DBN)

Pension liability clouds Nortel auction
(DBN)

______________

Sports:

GM to end sponsorship of Buick Open
(DBN)

______________

Private Equity:

Why private equity is in a deep freeze
(DBN)

Private Equity Loves Orphan Brands
(DBN)

Private Equity's Rough Ride Isn't Over Yet
(DBN)

______________

Personal Finance:

Man says stress led him to rob banks
(DBN)

Woman accused of running strip club in basement
(DBN)

______________

Tech:

Forget Ponzi. Try tech investing
(DBN)

______________

Pensions:

How Congress and employers might help to patch up Americans' nest eggs
(DBN)

______________

Credit Cards:

Credit Card Firms Raise Fees Before Law Changes
(DBN)

Credit card debt, bankruptcy rising among seniors
(DBN)

______________

Personal Bankruptcy:

Bankruptcy "Means Test" Doesn't Dictate Chapter 13 Plan Payments, 5th and 7th Circuit Appeals Courts Say
(DBN)

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Gambling:

Station Casinos Files for Bankruptcy as Talks Fail
(DBN)

Bankruptcy Judge ok's Greek Isles Casino Sale
(DBN)

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Horse Racing:

Trouble At the Track
(WSJ: separate paid subscription required)

______________

Mining:

Asarco creditors offered 3 payment options
(DBN)

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Boating:

A sinking feeling: Boating industry in a fight for survival
(DBN)

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Student Debt:

Obama's Student-Loan Plan May Save Less Than Thought
(DBN)

Summer of debt
(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:

Which industry is likely to see the most bankruptcies in the next year?

Click here to vote and see results

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Bankruptcy Litigation:

Bank of America Makes Peace With Parmalat for $100 Million
(DBN)

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Bankruptcy Reform:

Senate Judiciary Committee explores "Cramdown" provision
(DBN)

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Mass Torts:

The Specious Claim Market
(DBN)

Lower the Asbestos Burden on State Courts
(DBN)

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Advertising:

Interpublic profit drops; shares down sharply
(DBN)

______________

Non-Profits:

Retailer's Chapter 11 Hits 'Duck Stamp Program'
(DBN)

Rainbows United to file for bankruptcy
(DBN)

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Food/Drink:

Operator of Golden Corral restaurants files bankruptcy
(DBN)

Slaughterhouse unlikely to pay reduced fines
(DBN)

______________

Aviation:

Frontier posts 8th month of operating profit
(DBN)

Friendly Skies, Revisited
(DBN)

Business travelers cut back on perks
(DBN)

Signs of the Times: United Kills a Fee; Open Skies Kills a Route
(DBN)

Russia airline passenger numbers down 18 pct in H1
(DBN)

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Jewelry:

Ultra Stores Exits Chapter 11
(DBN)

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Derivatives:

Ambac Credit-Default Swaps Jump to Record on Surplus Concerns
(DBN)

______________

Celebs:

Vick Seeks Comeback Chance
(DBN)

Michael Vick's NFL Reinstatement to be used in Bankruptcy Case
(DBN)

Feds Raid Vegas Home and Office of Michael Jackson Doc
(DBN)

______________

Newspapers:

Tribune: Slow train coming
(DBN)

______________

Small Business:

Govt. Paying to Offset Bank Losses on Small Business Loans
(DBN)

______________

Arbitration:

House Subcommittee Holds Hearing on Collection Arbitration
(DBN)

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Accounting:

Fair value not cause of crisis - ACCA
(DBN)

Suspend Mark-To-Market--Now
(DBN)

PCAOB Names Acting Chair
(DBN)

Certified Fraud Examiner of the Year
(DBN)

Four out of Five Companies Can't Forecast Cash Flow
(DBN)

PCAOB: Experts Only for Final Reviews
(DBN)

______________

Trucking:

Truck Tonnage Drops Sharply in June
(DBN)

______________

Ratings Agencies:

Suit Blames Ratings Agencies for Economic Meltdown
(DBN)

______________

Satellites:

ProtoStar Satellite Systems files for bankruptcy
(DBN)

______________

Apparel:

Fees Said Putting Hartmarx Sale at Risk
(DBN)

______________

Executive Compensation:

House Panel Approves New Rules on Executive Pay
(DBN)

______________

Corporate Governance:

Court of Chancery Rules on Issue of First Impression: Do Fiduciary Duties Apply in the Context of a Right of First Refusal Agreement Between a Corporation and its Shareholders
(DBN)

______________

UK:

Thousands of families hit by £1billion credit card crisis
(DBN)

Mortgage Approvals Highest Since April '08
(DBN)

______________

EU:

ECB: Banks further tightened loan standards
(DBN)

______________

Canada:

Earl Jones arrest met with cheers, questions
(DBN)

Earl Jones expected to plead not guilty Tuesday
(DBN)

Earl Jones' alleged victims plan Montreal rally
(DBN)

______________

Italy:

Risanamento's Zunino Hands In Resignation
(DBN)

Italy's Risanamento court hearing postponed-chmn
(DBN)

JPMorgan, UBS, Deutsche Bank May Face Indictment in Milan
(DBN)

______________

Germany:

Hapag Rescuers Seek EU1 Billion Guarantee From Merkel
(DBN)

Hypo Real Probe May Call Merkel to Testify on Government Rescue
(DBN)

______________

Japan:

Japan Factory Output Likely Rose Most in 50 Years Last Quarter
(DBN)

______________

Spain:

Artenius collapses after parent pulls plug
(DBN)

Santander Profit Declines on Loan Provisioning Costs
(DBN)

______________

Bosnia:

Bosnia's Bankruptcy Garage Sale
(DBN)

______________

 

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