September 22, 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:

US Rep. to BofA: Turn Over Lawyers’ Merrill Merger Advice by Noon Monday
(DBN)

BofA Misses Congressional Deadline for Merrill Merger Documents
(DBN)

A Closer Look at Congress and the Attorney-Client Privilege
(DBN)

BacMerSaga Hits Congress; Will Attorney-Client Privilege Hold Up?
(DBN)

The Secret Behind Secret Disclosure
(DBN)

9th Circuit Rules that Section 506(b) Preempts State Law on Attorneys Fees
(DBN)

Specter's "Aiding and Abetting" Bill: Why it Could Pass and Why it Matters
(DBN)

Recession Forces More Stay-at-Home Moms Back to Work, Including Lawyers
(DBN)

Sonnenschein Claims Paterson Crony
(DBN)

Winston & Strawn Scores Major Win For Grant Thornton in Parmalat
(DBN)

Jones Day Replaces Wachtell on Satyam Shareholder Suit
(DBN)

Judge Takes to Task Big Law Firms, Financial Giants in ABFS Case
(DBN)

After a Job Rejection, Ask for Feedback and Don’t ‘Catastrophize’
(DBN)

Last Week in Layoffs
(DBN)

Should 2Ls Accept All of Their Offers to the Detriment of Fellow Students?
(DBN)

Clifford Chance's Revenues Fall in the Americas
(DBN)

CC's annual report reveals £60m costs of firm restructuring
(DBN)

Hourly rates drop by third as clients flex muscles
(DBN)

Top-Firm Partner Rates Falling Fast
(DBN)

The "Warning" Czar?
(DBN)

You Gotta Spend Lots of Money to, Uh, Not Spend Lots of Money?: The New MegaFirm Math
(DBN)

Deidre Dare Proposes Prostitution as a Layoff Solution?
(DBN)

Deferral Extension Season: Alston & Bird Make Indefinite Deferral
(DBN)

Value of Lawyers 'Frustratingly Hard to Figure Out'
(DBN)

New Allegations About Fred Baron's Role in Edwards Deception
(DBN)

Bingham Restructures the World
(DBN)

NBA sues law firm for malpractice
(DBN)

Increase in professional negligence claims
(DBN)

Ex-Toyota Lawyer Amends Suit to Include Defamation Charge
(DBN)

Walker bankruptcy case attracts hundreds
(DBN)

The Kill Step, Part 2: How Dole Deposed A 'Turning Point' Witness
(DBN)

Jessica Biel to Portray Suburban Chicago Lawyer
(DBN)

U.S. Prosecutors Vie for September 11 Plotter Trials
(DBN)

The Czech Republic is fertile ground for lawyers.
(DBN)

‘Outstanding Young Lawyer’ on Trial in Santa Fe Vehicular Homicide
(DBN)

NY Judge Whips Out Fee Kryptonite on Supermodels' Lawyers
(DBN)

Benchslap: Judge Orders Attorney to ‘Re-Read … FRCP’
(DBN)

Former Nixon Peabody Lawyer Hit With Insider Trading Charges
(DBN)

Law Student of the Day: He Says He’s Not Dating Rihanna, And He’s Not Gay. Not That There’s Anything Wrong With That.
(DBN)

Law Schools and BigLaw Try a Little of This, A Little of That to Get Through Current Crisis
(DBN)

Pizzas and the crucifix: the saga of ave maria law school
(DBN)

Taking the Adversarial System A Little Too Far
(DBN)

Attorney Mixes Barbells and Law Practice
(DBN)

Calif. Bar Identifies Lawyers Probed for Loan Work
(DBN)

Did lawyer crash courthouse groundbreaking photo?
(DBN)

______________

Judges:

Ad and Detract?: Mudslinging TV Spots Won Judge Seat on Bench and Probe of His Ethics
(DBN)

Would Brandeis Have Been Nominated to the Supreme Court Today?
(DBN)

Judicial Campaign Speech Case May Be Destined for Supreme Court
(DBN)

The Supreme Court Cert Pool: Sotomayor Joins It, Lawyers Attack It
(DBN)

Controversial Ex-Judge Loses Libel Suit Brought By Former Assistant
(DBN)

______________

Wall Street:

Stock futures signal gains; eyes on Fed
(DBN)

Rosenberg Says Stocks Overvalued After Six-Month Rise
(DBN)

______________

Layoffs:

National and State by State Unemployment Rates
(DBN)

August Jobless Rate Hits 10% in 14 States
(DBN)

California Department of Corrections and Rehabilitation faces potential for 900 employee layoff
(DBN)

US Economy Will Add Jobs by End of 2009, Maki Says
(DBN)

Middle-aged workers worry about finding next job
(DBN)

Expecting Mothers Are Finding They Are An Expendable Liability
(DBN)

The jobless clubs: Meeting to mingle, and to hand out resumes.
(DBN)

The Jobless Decide to Take a Hike
(DBN)

CFOs expect little change in hiring activity in the fourth quarter
(DBN)

______________

Newspapers:

Despite slashed debt, is the Star Tribune still overleveraged?
(DBN)

Newspapers Have Not Hit Bottom, Analysts Say
(DBN)

Philadelphia Newspapers gets $15M in debtor loans
(DBN)

______________

Finance:

The Future of Global Finance
(DBN)

______________

Tax:

IRS Issues Favorable Guidance On Election To Defer Cancellation Of Debt Income On Repurchase Of Debt
(DBN)

IRS targets taxpayers with secret Swiss bank accounts
(DBN)

IRS Widens Net on Mortgage Trusts
(DBN)

IRS Moves to Keep Companies From Skirting Tax-Avoidance Law
(DBN)

Tax avoidance clampdown 'could end poverty'
(DBN)

______________

Consultants:

Mesirow Financial Consulting Expands Restructuring Capabilities
(DBN)

______________

Insurance:

Court Grants Texans Insurance CUSO Bankruptcy Relief
(DBN)

Congressional Report Says A.I.G. Has Stabilized - Not yet clear whether the insurer could ever repay its federal rescue package
(DBN)

In a Crunch, Insurers Raise Fees
(WSJ: separate paid subscription required)

______________

Theme Parks:

New Orleans moves to end Six Flags lease
(DBN)

______________

Hedge Funds:

Griffin goes back on the attack
(DBN)

Amaranth Advisors Sues Touradji, Seeking at Least $350 Million
(DBN)

______________

Defaults:

Speculative-Grade Defaults to Peak at 15% in Europe, S&P Says
(DBN)

Bank On Bankruptcy
(DBN)

______________

Corporate Reform:

Obama Defends New Consumer Protection Agency
(DBN)

SEC Will Go to Trial Against BofA Over Bonuses
(DBN)

______________

Student Debt:

Obama Criticizes Banks Over Student Loan Subsidies
(DBN)

______________

 

 

Economy:

US Leading Economic Index Increased 0.6% in August
(DBN)

Senator Who Predicted Bailouts Sees More
(DBN)

Main Street awaits proof recession's over
(DBN)

Financial Crisis And US Casino Culture
(DBN)

Bankers Furious Over Government Pay Plan
(DBN)

US Economic Recovery Can't Work
(DBN)

Fed Effort to Stoke Growth May Be Undermined by 'Tight' Credit
(DBN)

Blame the Fed, But Give it Some Credit, Too
(DBN)

Recession had sweeping impact on US life
(DBN)

Recession Has Immigrants Packing
(DBN)

Paulson becoming bailouts' poster boy
(DBN)

A Grand Unified Theory of the Financial Crash
(DBN)

Economic Stress Index
(DBN)

What does the recession look like in your neck of the woods? An interactive map
(DBN)

Economy Tracker Map
(DBN)

US Debt Clock
(DBN)

Recovery Index
(DBN)

______________

Real Estate:

US mortgage delinquencies set record
(DBN)

New study on foreclosures leaves little room for 'moral hazard' argument against loan mods
(DBN)

Banks Are Forcing Homeowners to Keep Paying After Short Sales
(DBN)

Homeowners with Great Credit More Likely to Bail on Mortgages
(DBN)

Where Home Prices are Hitting Bottom
(DBN)

Lennar Loss Widens as Homebuilding Revenue Slides
(DBN)

Homebuilder Kirk Corp. 'out of business' after judge rejects bankruptcy reorganization plan
(DBN)

Another Toll Selling Company Stock
(DBN)

Doug Wilson Defaults on $25M Loan for Redevelopment Projects
(DBN)

Somber Prediction for US Housing Market
(DBN)

Banks Trying To "Kick Bad Mortgages Down The Road"
(DBN)

Buyers emerge in Charleston amid land bust
(DBN)

Reichmann loses Canary Wharf stake: reports
(DBN)

Will New Song Title Be - I Left My 'Home' In San Francisco?
(DBN)

Short sales spread across real estate market, leaving frustration in their wake
(DBN)

Loan Modifications, Judges Frustrated by Banks Nonchalant Attitude
(DBN)

Can't Sell Your House? Torch It
(DBN)

HGTV's House Hunters: More buyers looking at foreclosed and short sale properties
(DBN)

Is defaulting on mortgage immoral?
(DBN)

_____________

Distressed Investing:

When Plodders And Gunslingers Team Up
(DBN)

______________

Health Care:

Analysis: You Have No Idea What Health Costs
(DBN)

How the Baucus Bill Bilks People Over 50
(DBN)

______________

Metals:

Bankruptcy court to hold auction for Crucible Specialty Metals today
(DBN)

______________

Boating:

Hustler Powerboats negotiating to buy Fountain
(DBN)

______________

Student Debt:

Bill Has No Impact on Private Student Loans, Jeffreys Says
(DBN)

______________

Horse Racing:

Tribal subsidiary wants to buy Lone Star Park
(DBN)

______________

Guns:

Worlds' biggest AK 47 manufacturer is bankrupt
(DBN)

______________

Lehman:

Where Should Lehman Have Filed?
(DBN)

JPMorgan at risk in Lehman controversy?
(DBN)

Why the Lehman failure did change everything
(DBN)

______________

Credit Reporting:

Strategic defaults hit consumers' credit scores
(DBN)

______________

M&A:

Takeover Premiums Take Flight
(DBN)

Is A Coming M&A Boom Good News?
(DBN)

______________

Celebs:

Drug dealers or recession gurus?
(DBN)

Jenna Jameson sued over non-payment in divorce case
(DBN)

Dewey & LeBoeuf Will Represent Caster Semenya
(DBN)

______________

Gambling:

Top issues unsettled in casino bankruptcy
(DBN)

Smaller Jackpots for States
(DBN)

______________

Ratings Agencies:

What should be done with Moody's, et al.?
(DBN)

______________

Compensation:

Munger Tolles Partner on Executive Pay: Change It
(DBN)

______________

Tech:

Sun Micro losing $100 mln a month, Ellison says
(DBN)

______________

Oil/Gas:

Energy Partners Exits Bankruptcy - Update
(DBN)

______________

Mining:

Sterlite offers to let Grupo out of Asarco penalty
(DBN)

______________

Private Equity:

Strategic Bidders Have PE Firms On The Ropes
(DBN)

______________

Fraud:

Feds charge Obama/Clinton fund-raiser in $290 million fraud
(DBN)

Two charged with $80 million ATM swindle
(DBN)

Reserve "Not a Ponzi Scheme" Says Galvin
(DBN)

Stapley to be arraigned on felony fraud charges
(DBN)

_____________

Theme Parks:

Six Flags noteholders follow a well-worn path
(DBN)

______________

Telecoms:

Almost the last of Nortel goes up for sale
(DBN)

______________

Golf:

Palm Desert Country Club owners pursuing loans in hopes to reopen
(DBN)

______________

Retailing:

Deloitte Predicts Flat 2009 US Holiday Retail Sales, And A Lonely Mall Santa
(DBN)

______________

Agriculture:

6 Colo. dairies in bankruptcy; more to come
(DBN)

______________

Food/Drink:

Famed NY cafe owner files for bankruptcy
(DBN)

TGI Friday's closes 10 West Coast restaurants
(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)

______________

Bankruptcy Rules:

New Time Deadlines
(DBN)

______________

Banking:

BofA Between a Rock and a Hard Place
(DBN)

Bank of America Seeks to Pay Back Federal Aid
(DBN)

Bank of America to Pay for Merrill Backstop, Faces SEC Trial
(DBN)

F.D.I.C. May Borrow Funds From Banks
(DBN)

Is Wells Fargo About to Blow?
(DBN)

You Are All Wrong About Wells Fargo
(DBN)

Feds Look at Pay, Bankers Now Hate Socialism
(DBN)

Banks May Need to Reduce Size or Raise Capital, Lagarde Says
(DBN)

Irwin Financial Files For Bankruptcy
(DBN)

Wells Fargo Under Increasing Scrutiny Over its Assessment of its Loan Portfolio
(DBN)

Citibank Executive Says $100 Million Compensation is Too Much
(DBN)

Overdrafts Return To Congress
(DBN)

Should Citi cancel Andrew Hall's $100 million pay and $400 million Mets deal?
(DBN)

______________

Bankruptcy Prediction:

Model pinpoints at-risk companies
(DBN)

______________

Autos:

Chrysler's Estate Lost $12.1 Billion Since Bankruptcy
(DBN)

Old Chrysler has $344-million loss
(DBN)

Chrysler hears From Ad Agencies About Brand Woes
(DBN)

Fallen Auto Magnate Faces Grand Jury Probe
(DBN)

The Auto Industry's Big Little Problem
(DBN)

Auto execs' pocketbooks also knicked in auto downturn
(DBN)

Clutch time for GM and Fritz Henderson
(DBN)

CPAs say GM safe through 2012
(DBN)

Doll & Doll Motor Co. files for Chapter 11 bankruptcy protection
(DBN)

Lear's Plan Advances
(DBN)

Utah lawmakers abandon idea of bill to help jilted Chrysler dealers
(DBN)

Car Slump to Cause Supplier Mergers, Bankruptcies
(DBN)

SUVs, pickups among top sellers under clunker deal
(DBN)

Luxury vehicle market tanks as buyers cut back
(DBN)

Magna Starts Talks on Job Cuts at Opel as Unions Plan Protest
(DBN)

______________

Aviation:

For Airlines, Fees Become Lifelines
(DBN)

Airlines hope for rebound in business travel
(DBN)

Packed in like sardines: New aircraft design plans to seat passengers face-to-face
(DBN)

JAL may separate profitable operations for restructuring
(DBN)

______________

Hockey:

Coyotes Owner Seeks Black Belt Mediator
(DBN)

Judge considers mediation in Phoenix Coyotes bankruptcy
(DBN)

Melnyk insists veto exists
(DBN)

Balsillie Says Melnyk Contradicts NHL on Veto Right
(DBN)

Coyotes Hire Burke; Owner In Bankruptcy Court Wednesday
(DBN)

The Heat Index: Where's Wayne?
(DBN)

Hiring of King casts doubt on Gretzky's future
(DBN)

______________

Sales:

Cynergy Data Wins Approval for Bidding Procedures
(DBN)

______________

Ratings:

S&P May Cut $578 Billion of Corporate Debt Securities
(DBN)

What Did the Ratings Agencies Know About AIG?
(DBN)

______________

Accounting:

Did Wells Fargo's Auditors Miss Repurchase Risk?
(DBN)

Rumor Mill: KPMG Layoff Started Early in Philly
(DBN)

______________

Weddings:

Bankruptcy Leaves Brides-To-Be Scrambling
(DBN)

______________

Municipalities:

Bentley: Bankruptcy best answer for Jefferson County
(DBN)

______________

Credit Cards:

Ten Credit Card Myths
(DBN)

______________

Corporate Governance:

Do Compensation Reform Proposals Threaten Increased Board Exposures?
(DBN)

______________

UK:

UK Liberal Democrats Plan 1 Million-Pound Homes Tax
(DBN)

Back to bondage
(DBN)

Countdown to shake-up of private banks
(DBN)

"New world" of pain for tax cheats
(DBN)

UK business failures ease in August
(DBN)

______________

EU:

EU Plans Regulators to Oversee Financial Industry
(DBN)

______________

Canada:

New escape route from big debt exists
(DBN)

Canadian Government Isn't Responsible for Nortel's Demise
(DBN)

Major Amendments To The CCAA, Canada's Reorganization Law, Are Now In Force
(DBN)

Introduction to the Canadian Bankruptcy Reforms
(DBN)

______________

Russia:

Russia's legendary Kalashnikov producer faces bankruptcy
(DBN)

Russia's matryoshka banks
(DBN)

______________

Asia:

Forecasts for Asian growth raised
(DBN)

______________

Japan:

Once Slave to Luxury, Japan Catches Thrift Bug
(DBN)

______________

Italy:

Risanamento "Surprised" By Prosecutors Plan Rejection
(WSJ: separate paid subscription required)

______________

India:

Do lenders have to worry about new bankruptcy code?
(DBN)

______________

Ireland:

Debt should 'not lead to prison'
(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).