June 18, 2009

The Daily Bankruptcy News

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Law:

Most Profitable Firms Are Resisting Deferrals
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New Whirled Order
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Saul Ewing Puts Its Alternative Fees in Writing on the Web
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Firm Axes 85
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Layoff Watch: Clifford Chance's New York Litigation Team Leaves the Circle
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Casting a Wider Net: Small to Mid-Sized Law Firms
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TooBigLaw?: Firms Looking to Sublet Unused Office Space
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The Return of Hope During the Recession: Adventures at The Ashram (Part I)
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Law School Summer Camp Is Like One Big Shark Tank This Year
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Harvard Changes Financial Aid Work Rule Due to Law Firm Summer Program Cuts
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Baker Botts: No Conflict in Representing Stanford Receiver
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A Baker Botts Mini-Mystery: Did the Firm Work for Allen Stanford?
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Morgan Lewis Brings On 11 Bingham Lawyers
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Vital Signs Are Strong: Obama's Health Care Bid Has BigLaw Hiring
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Green Shoots? Not So Fast...
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Firm of the Day: Davis Wright Tremaine
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Is Facebook a Productivity Killer?
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Ex-Lehman Lawyer Uses Company's Bankruptcy as a Launching Pad
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Attorney Censured for His Use of Non-Lawyers to Practice Law
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Stanford Law Grad-Turned-Escort Left for Broke
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Should Witnesses be Allowed to Wear Niqabs While Testifying?
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Dole Gets Legal Fees as Calif. Judge Details Attorneys’ Fraud on Court
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Feds Intervene in Exec’s Divorce, Argue It’s a Ruse to Avoid $3.3B Restitution
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Law Student of the Day: Leo Wolpert
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Judges:

Sotomayor Defends Membership in All-Women's Group
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Sotomayor’s Nomination: Today’s News
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Circuit Assignments May Give Most High Court Justices 'Home Court' Advantage
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Cloak-and-Dagger Justice
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Judge Bows Out of BigLaw Partner's Fraud Trial
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Prosecutors Drop Indecent Exposure Charges Against Judge
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Wall Street:

Asia stocks fall for 4th day; European shares down
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Stocks slip after FedEx forecast, bank downgrades
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JPMorgan's Lee sees S&P 500 retest of '07 record
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Layoffs:

National and State by State Unemployment Rates
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After Layoffs, Amish See a Return to Traditional Work
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Hotels:

Extended Stay: The Bad Boy Clause
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Banking:

Two Banks Exit TARP, With Others Set to Follow
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Moody's: TARP Repayments Don't Change Bank Ratings
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JPMorgan, Three Banks Repay $44.7 Billion in US Treasury Rescue Funds
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S&P cuts ratings, outlooks on 22 US banks, citing regulation, volatility
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Bank of America Leads in Default Rate Rise
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BofA paying big bonuses to retain bankers
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Bernanke to testify on BofA-Merrill deal
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Moody's May Cut Bank Hybrid Debt on Lack of Support
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Notice of Entry of Interim Order Establishing Trading Procedures and Restrictions on Certain Transfers of Interests in the Debtor in Re BankUnited Financial Corporation, Et Al.
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Logistics:

FedEx Q4 Loss Widens On Charges, Lower Revenue
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Shipping:

Shipping Index Rises For Third Straight Month
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Newspapers:

Globe union 'optimistic' about agreement
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Star Tribune drivers to vote on tentative deal
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Horse Racing:

Governor: No bailout for Hoosier Park
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Education:

Budget Cuts at Harvard Raise Concerns About Academic Future
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Advertising:

Bankruptcy means no more advertising, or does it?
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Credit Cards:

Bankruptcies Bedeviling Trusts at B of A, Citi, JPM
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Economy:

Consumer prices rise less than expected in May
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China could yet buy more US debt: former c.banker
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Only a Hint of Roosevelt in Financial Overhaul
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US Debt Rating Maintained at Highest Level by S&P
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Public Wary of Deficit, Economic Intervention
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Economic Stress Index Map
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Real Estate:

MBA: Mortgage applications fall again
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US Mortgage Applications Index Fell 16% Last Week
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Mortgage-Bond Yields Fall for Fifth Day, Signaling Lower Rates
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MGIC says terminates credit facility - Says No Defaults
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Want to Cut Costs? Knock Down Your Credit Facility
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Loan Redos Get Tangled in Red Tape
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Southern California home prices rise slightly in May
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Sellers Get 'Realistic' in Southern California and Home Sales Increase
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Camden developer's parent company files in bankruptcy court
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Corporate Reform:

Summary Of Obama Financial Regulation Plan
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Some Lawmakers Question Expanded Reach for the Fed
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Banks Brace for Fight Over an Agency Meant to Bolster Consumer Protection
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Overhaul Leaves Rating Agencies Largely Untouched
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Obama pushes reform to restore investor confidence
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Democrats to push through banking overhaul quickly
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Obama Aspires To 'Light Touch'
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Obama Regulation Plan Seeks Fed For Emergency Settlement Services
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Obama's finance reforms: Let the Fox guard the Hen-house
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Obama's five-prong plan to oversee financial industry
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Obama's Economic Misfits Finally Get It
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Tip-toe regulatory reform
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Obama barks out order for financial watchdog
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Plan For Fed Power Boost Could Become Lightning Rod
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Fed's Soup Kitchen Becomes Magnet for Lobbyists
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Awards:

Morris Manning receives Chambers Honors In Bankruptcy
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Butler Rubin Recognized for Bankruptcy/Restructuring Expertise
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Sports:

Coyotes Judge: Sports Leagues’ Fears Overblown
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GM bankruptcy creates ripple effect
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Municipalities:

Credit Crunch Still On for Municipalities
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California's Economy: Too Big to Fail?
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State Income-Tax Revenues Sink
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Gift Certificates:

Bankruptcy sheds some light on CertifiChecks debacle
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Retailing:

Eddie Bauer files for Chapter 11, to be sold to Rainier
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Abercrombie & Fitch to shut its 29 Ruehl stores
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Scamps pet stores close due to bankruptcy
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A Buyer (Finally) for Filene's; What of Fortunoff?
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Finance:

GE expects credit conditions to improve by 2010
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Aviation:

UAL expects big drop in 2Q
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World airlines 'shaken' by meltdown
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M&A:

Barbarians in Bankruptcy Court
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Resorts:

Judge To Blixseth: Everything Must Go!
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Food/Drink:

Attorney says warrants used during Agriprocessors are invalid
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Derivatives:

The Wall Street Journal Glosses Over the Pitfalls of Credit Default Swaps
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NYSE to create fixed income derivatives clearing house
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Fraud:

A call by Stanford to DQ Baker Botts
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Feds issue warrant for missing Webio principal
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Accused Ponzi Schemer Claims He’s Holed Up in a Hotel, Lawyer Says
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New Bankruptcy Opinions
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Bankruptcy Court Web/Pacer Site Directory

Chapter 7, 12 & 13 Private Trustee Locator
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Recent Ch. 11 Filings
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Bankruptcy Jobs:

(1)- (2)- (3)- (4)- (5)- (6)- (7)- (8)- (9)- (10)
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Walker Wilcox Matousek

Bankruptcy Litigation:

Lyondell Lawsuit Looms
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Autos:

GM CEO Says Early Chapter 11 Exit Possible
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New GM is moving on fast track
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Dura CEO: No new aid means more supplier bankruptcies
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Five suppliers object to GM's payment plans
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Ford CEO Mulally: Health of supply base is No. 1 concern
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Ford Seeks No-Strike Pledge UAW Gave to GM, Chrysler
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7 more of Chrysler's plants to go on line
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Chrysler May Continue to Idle Some Auto Plants Until Late July
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Buyers Still Heading For GM Cars, Trucks Despite Bankruptcy
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Authorities at Hecker's businesses, home
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Fiat: Restructuring of Auto Industry Necessary
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Lear Vendors Seek Cash Payment on Bankruptcy Concern
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US court sets Delphi bankruptcy hearing for July 23
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Delphi Lenders Eyeing More
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Delphi Creditors Panel Objects to Platinum-Sale Plan
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Are you there, God? It's me, Detroit
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GM retirees tried to play it safe
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A Car Dealer Makes the Case for How Dealerships Are Being Scapegoated
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Fiat may bring Chrysler brands to India
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Magna, GM aim to sign Opel deal by July 15
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Opel May Slash Prices 40% to Boost Sales, Save Jobs
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Insurance:

Tempers Simmering at Big AIG/Starr Trial
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Greenberg: 'I Was Angry' About Losing AIG CEO Job
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Gambling:

Trump makes bid for namesake casino company
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Bankruptcy court to expedite Fontainebleau lawsuit
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Tourism:

Bankrupt Hawaii Superferry seeks court approval to abandon its two vessels
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Stock Brokers:

E-Trade off on word of share sale, financials dip
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Enron:

Merrill Lynch Execs in Enron Case Can Be Retried
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Telecoms:

Insolvent Nortel shuffles to calm creditors, boost cash
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Pensioners hope governments seize chance to save Nortel
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Court names Toronto law firm to represent Nortel pensioners
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UK:

UK seeks reassurance in EU bank rules shakeup
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UK retail sales, mortgage data hurt recovery hopes
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Young women overtake men in bankruptcy stakes
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Young women 'lured into bankruptcy by celebrity lifestyle'
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In Britain, an Aversion to Rules From Europe
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Germany:

Arcandor puts 15 subsidiaries into bankruptcy
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Middle East:

Saudi central bank struggles to spur credit amid crisis
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Ukraine:

The Ukrainian Government Launches Bailout Plan for Banks
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Asia:

Upturn seen in China and Japan but caution prevails
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India:

India Wholesale Prices Fall for First Time Since 1978
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