July 25, 2011

The Daily Bankruptcy News

Also available on the Web (with links to the news stories) Click Here
View prior editions: Click Here
View prior case summaries: Click Here
Search prior headlines: Click Here
Search prior case summaries: Click Here

Law:

Scott Rothstein Bankruptcy Paying Off Big -- For Lawyers
(DBN)

Willkie Advises Fiat in Completion of Acquisition of Chrysler Equity from U.S. Treasury and Canada
(DBN)

Murdoch and Cronies Turns to Heavy NY Hitters to Find Way Out of HackGate Mess
(DBN)

Simpson Thacher Alum is New Interim GC at News Corp
(DBN)

Freshfields hit with £180m negligence claim
(DBN)

SRA to investigate lawyers' role in phone-hacking
(DBN)

News Corp shells out £3k an hour for Grabiner
(DBN)

NoW phone-hacking saga: the legal line-up
(DBN)

Merger Will Create International Firm With 230 Partners, 2,000 Staff
(DBN)

Celebrity Summer Associate: An International Pop Music Star
(DBN)

Don't Take On More Than You Can Handle, and Other Tips for Summer Associates
(DBN)

Is Business-Speak Gibberish Making its Way Into Law-Speak?
(DBN)

Experts Will Tell You a Lot in Depositions if You Ask the Right Questions
(DBN)

ABA to Senator Grassley: We Share Your Concerns about Law Schools
(DBN)

ABA Tells Senator It Is No Position to Regulate the Number of Law Grads
(DBN)

The Broken Law School Model: What Is To Be Done?
(DBN)

Thos. Jefferson Answers Grad’s Suit, Says Bar-Pass Stats Showed Some JDs Weren’t Working Lawyers
(DBN)

The Case Against Law School
(DBN)

As Criminal Laws Proliferate, More Ensnared
(DBN)

Does “Ignorance of the Law Excuses No One” Make Sense When No One Knows How Many Laws Exist?
(DBN)

Don’t Call It A Loophole
(DBN)

ABA Urges Firms to Plan for the Worst
(DBN)

Did 2 Fired Lawyers Do Too Good a Job for Florida AG’s Office?
(DBN)

DC Bar Suspends Lawyer for Failure to Disclose Prior Suspension
(DBN)

Mary Kay's Top Lawyer Keeps Makeup Mavens' Meeting Looking Good
(DBN)

Attorney's Subjective "Feelings" Don't Determine Conflict
(DBN)

5th Circuit to Decide If Judge Correctly Appointed Receiver Over "Vexatious Litigant"
(DBN)

Anchor’s Away! An Act of ‘Felony Stupidity’?
(DBN)

Lawsuit of the Day: Asking For Proof Of P------ Is One Way To Put Them in a Bunch
(DBN)

Man tries to kill mom with kamikaze flight into house
(DBN)

Top 10 Highlights From A Rural Texas Police Blotter
(DBN)

The Heat Isn’t An Excuse For . . .
(DBN)

______________

Judges:

Are Budget Cuts Imperiling Justice?
(DBN)

Judge is Victim
(DBN)

NJ Judge Sues State, Says Constitution Bans Jurists’ Pensions From Being Cut
(DBN)

NY Judges Made Strong Case for Raise, Pol Says
(DBN)

Judge Gives $5.9 Million Bonus Fees Bid a Big Thumbs Down, Says Supremes Forced His Hand
(DBN)

Judicial Council Adopts Higher Cuts to Bureaucracy of California Courts
(DBN)

If You Want Folks to Accept Your Decision, Don’t Pretend That It Was Easy
(DBN)

Federal judges to test video cameras in court
(DBN)

______________

Wall Street:

U.S. Stock Futures Decline After Lawmakers Fail to Reach Debt-Ceiling Deal
(DBN)

Asian Stocks Retreat as U.S. Lawmakers Fail to Agree Deal on Debt Ceiling
(DBN)

US Futures Are Falling And Gold Is Surging, As Weekend Goes By Without A Debt Deal
(DBN)

Feeling the heat on U.S. debt, earnings
(DBN)

Markets to hold U.S. feet to fire as default threatens
(DBN)

Goldman Model Planted Seeds of Distress
(DBN)

______________

Layoffs:

Low Odds Long-Term Unemployed Will Find Work
(DBN)

Jobless Rates Rise in Most U.S. States
(DBN)

Houston Unemployment Hits 9%
(DBN)

The Case for More Layoffs
(DBN)

Boom in Corporate Profits, Bust in Jobs, Pay
(DBN)

Return of Mass Layoffs a Grim Sign for U.S. Workers
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

______________

Tax:

Credit Suisse unlikely to get help over U.S. tax probe
(DBN)

______________

Banking:

For First Time Ever, Each Bank Meets or Beats Earnings
(DBN)

Ex-JPMorgan Banker Admits to Stealing Identities for $1.1 Million Theft
(DBN)

______________

Retailing:

Beyond Borders?
(DBN)

The sad evolution of a major bookstore chain
(DBN)

What All Businesses Should Learn from Borders' Bankruptcy
(DBN)

Customers stream in as Borders begins final sales
(DBN)

Borders Group Liquidating Sale: Discounts Not as Deep As Some Customers Expected
(DBN)

Experts: Compare discounts on Borders sales merchandise
(DBN)

Humility returns to book business
(DBN)

Bookselling After Borders
(DBN)

Borders end to have ripple effect across country
(DBN)

Filene's Basement: Even deeper in the cellar
(DBN)

______________

Mail:

Many Seek to Revamp Post Office
(DBN)

______________

Municipalities:

Jefferson County in Alabama May Vote to File Largest Bankruptcy July 28
(DBN)

Alabama county awaits response on debt plan
(DBN)

Bankruptcy threat to Jefferson County, Alabama
(DBN)

Here's What You Need To Know About Muni Bankruptcy
(DBN)

80% chance Jefferson County to file for bankruptcy, commissioner Sandra Brown says
(DBN)

Two Jefferson County commissioners meet with state officials on fiscal problems
(DBN)

Jefferson County's best option is settlement, not bankruptcy, expert says
(DBN)

Jefferson County sewer debt reckoning imminent
(DBN)

Echoes of New York in 1975 as views harden
(DBN)

First of Many Union Pensions Takes Blow
(DBN)

Small town seeks $500K to avoid bankruptcy
(DBN)

RI judge rules Central Falls City Council may meet
(DBN)

Central Falls retirement board OKs 3 more pensions
(DBN)

The Worst Of Times For 2 Cities
(DBN)

Can Detroit Save Itself?
(DBN)

Gov. To Replace Union Labor With Prison Labor
(DBN)

"The Good Wife" shifts to Sunday, at 9 P.M.
(DBN)

______________

Trucking:

YRC Worldwide reports $38.7M quarterly loss
(DBN)

______________

Electricity:

Dynegy Sued by PSEG, LibertyView Funds Over Restructuring
(DBN)

______________

Bankruptcy Crimes:

Optometrist convicted of Bankruptcy fraud
(DBN)

Former FBI agent gets 4 years for fraud
(DBN)

______________

Food/Beverage:

USA Springs still facing roadblocks post-bankruptcy
(DBN)

______________

Stock Brokers:

E*Trade Hires Morgan Stanley to Study Sale After Online Broker’s 94% Drop
(DBN)

______________

Economy:

US rushes to avert disastrous default
(DBN)

Officials scramble for debt deal as clock ticks
(DBN)

Reid To Offer New Debt Ceiling Plan, Boehner Admits "Cut, Cap, And Balance" Is Dead
(DBN)

Using 14th Amendment to Raise the Debt Ceiling
(DBN - NY Times - Paywall Limit Possible)

Still No Deal as Market Openings Loom
(DBN)

No Debt Deal: Monday Market Panic?
(DBN)

GOP Backs Short Term Debt Limit Deal
(DBN)

GOP Divided Over Social Security Cuts
(DBN)

Anger Flares on Scramble for Debt Deal
(DBN)

Wall Street Is Preparing For A Doomsday Scenario
(DBN)

Once patient markets now nervous about debt talks
(DBN)

Fight over raising the debt ceiling almost sure to lead to bad policy
(DBN)

Getting 20-to-1 odds on a US credit default
(DBN)

U.S. Risks August Downgrade If No Deficit Progress, S&P Says
(DBN)

Obama officials clash with S&P over downgrade threats
(DBN)

Making the Call on U.S. Credit Rating
(DBN)

Obama cannot raise debt ceiling on his own: Geithner
(DBN)

The Debt Ceiling And The Inevitable Decline In Relative US Living Standards
(DBN)

Risks of Dancing on the Debt Ceiling
(DBN)

FAA furloughs thousands amid congressional funding stalemate
(DBN)

Stalemate in Congress could be boon for travelers
(DBN)

Fed’s Dudley Says QE2 Provided Modest Help
(DBN)

Economic Stress Map
(DBN)

Economy Tracker Map
(DBN)

US Debt Clock
(DBN)

Bailout Recipients
(DBN)

______________

Real Estate:

The Banks Still Want a Waiver
(DBN)

White House to tackle housing reform after debt ceiling fight
(DBN)

S&P: Shadow inventory slowing down recovery
(DBN)

Investments Muddy Dirt-Bond Holder: "We don't have a vote, even though we have the most money on the table"
(DBN)

Rep. Frank: Hope Still Alive for Mortgage-Cap Extension
(DBN)

Fannie Mae's Revivalists
(DBN)

Government Weighs Turning Foreclosures Into Rentals
(DBN)

Applying for a home mortgage could get complicated if US government defaults
(DBN)

Fannie Mae sees light at the end of housing tunnel
(DBN)

So, How is That New Hawaii Foreclosure Law Working So Far?
(DBN)

Resistance Builds in CMBS Market
(DBN)

D.C.’s Housing Market: Exceptional No More?
(DBN)

Activist Housing Counselor’s Latest Foe: Obama Administration
(DBN)

HUD extends unemployment aid deadline
(DBN)

CFPB issues first stopgap mortgage rule
(DBN)

Explaining the Methods of Hard-Money Lenders
(DBN)

Taylor Bean Liquidation Plan Is Cleared
(DBN)

Mastro hearing postponed
(DBN)

Trooien gets 'miracle' as judge OKs bankruptcy exit
(DBN)

50-plus Americans a favorite of mortgage rescue scammers
(DBN)

Short sales, long waits: Buyers and sellers find process frustrating
(DBN)

Governor Brown Signs Bill Protecting California Homeowners from Claims by Junior Mortgage Holders Following Consent to and Completion of a Short Sale
(DBN)

Bankruptcy Mortgage Project Website
(DBN)

Inside a high-end real-estate deal gone bad
(DBN)

Borders' closing adds to retail-space vacancy rate
(DBN)

Banks to offload real estate funds on the secondary markets
(DBN)

____________

Media:

New Pressure on News Corp.
(DBN)

Pressure Keeps Mounting on Murdoch Family
(DBN - NY Times - Paywall Limit Possible)

FBI inquiry into Murdoch empire could turn into long saga
(DBN)

Hacking Scandal’s Web of Connections
(DBN)

______________

Lehman:

Lehman trustee appeals $1.1 billion win for Barclays
(DBN)

______________

Celebs:

The Broke and the Beautiful: Housewives Edition
(DBN)

Dykstra ordered to stand trial after all
(DBN)

Former USC Star Pleads Guilty to Bankruptcy Fraud
(DBN)

Endorsement Lawyer Analyzes Mendenhall’s Lawsuit
(DBN)

Quaids claim corruption keeping them in Canada
(DBN)

______________

Health Care:

California's Downey Regional Closer to Emerging From Bankruptcy
(DBN)

Medic-1 files for bankruptcy
(DBN)

St. Luke's offer is Warren Hospital's best chance at survival
(DBN)

______________

Autos:

Carmaker Saab settles bankruptcy claim
(DBN)

Bankruptcy petition against Saab remains
(DBN)

Titanic struggle for Saab to appease suppliers
(DBN)

Supplier President: "Saab's Days Are Numbered”
(DBN)

Ford awards $100 million in executive bonuses, but tells workers: No raises for you!
(DBN)

Ford: Workers Shouldn't Expect Raises
(DBN)

New route needed for auto talks
(DBN)

Auto workers face brave new world
(DBN)

Toyota domestic output dips 38% in first half
(DBN)

______________

Religion:

Catholic Church wants to buy Crystal Cathedral
(DBN)

Benny Perez Battles Babylon in Church Bankruptcy
(DBN)

Dublin's archbishop outraged that 'cabal' blocked action on abuse
(DBN)

Vatican silent as PM's attack on clerical abuse
(DBN)

Stunned Vatican prepares 'considered' response to Kenny's attack
(DBN)

22 priests, hundreds of victims
(DBN)

______________

Mass Torts:

Florida Supreme Court rejects asbestos claim limit
(DBN)

______________

Debt Collection:

A push for more proof in debt-collection lawsuits
(DBN)

No Clarity on Debt Collection Laws Until CFPB Director Confirmed
(DBN)

______________

Shipping:

Bankrupt TCC Seeks $25 Million From Shippers
(DBN)

______________

Publishing:

What happened when my publisher ceased to exist
(DBN)

______________

Personal Finance:

California Households are Doing Without
(DBN)

______________

Art:

Kinkade’s Production Arm Emerges with Clearer Financial Picture
(DBN)

______________

Resorts:

Lehman may take over Moonlight, allowing resort to stay open long-term
(DBN)

Resort Developers Sue Credit Suisse For Up To $7.5 Billion
(DBN)

______________

Telecoms:

Challenging secured creditors' liens in FCC licenses
(DBN)

______________

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 Code - Prior BK Codes - Bankruptcy Rules
(large downloads)

UCLA-LoPucki Bankruptcy Research Database
(DBN)

Bankruptcy Jobs:

(1)- (2)- (3)- (4)- (5)- (6)- (7)- (8)- (9)- (10)
(DBN)

Seminars - (Contact us to list your seminar)

______________

Miscellaneous:

Lehman, Borders, Vitro, Boston Generating: Bankruptcy
(DBN)

Bankruptcy Case Opens Secret Door: AARP selling name for hundreds of millions
(DBN)

______________

Bankruptcy Statistics:

The Top 10 Businesses to Ever File for Chapter 11
(DBN)

Nebraska's rate of decrease in bankruptcy filings higher than national average
(DBN)

Interactive Bankruptcy Statistics Map
(DBN)

______________

Bankruptcy Reform:

Did Congress facilitate consumer debt crisis? A closer look at Hansen Clarke's stance
(DBN)

______________

Jurisdiction:

Bryan Cave case could land in L.A. court
(DBN)

______________

Baseball:

Judge Sides with MLB in Dodgers Bankruptcy Spat
(DBN)

Statement from Bruce Bennett, Attorney for the Los Angeles Dodgers, Regarding the Order Issued Today by the U.S. Bankruptcy Court in Delaware
(DBN)

Bankruptcy Judge Forces Frank McCourt to Take MLB Loan
(DBN)

Details Show Why Court Ruled McCourt Must Accept Financing from MLB
(DBN)

Judge orders MLB, Dodgers loan talks
(DBN)

Bankruptcy judge charts middle ground
(DBN)

Whither McCourt now?
(DBN)

Bud Selig's letter to Frank McCourt pulls no punches
(DBN)

JPMorgan Chase holding up Mets-Einhorn deal
(DBN)

______________

Fraternities:

Bankruptcy Settlement Ends Bitter Infighting at Tau Epsilon Phi
(DBN - NY Times - Paywall Limit Possible)

______________

Fraud:

SIPC Opposes Mets Owners' Bid to Toss Madoff Trustee Suit
(DBN)

Madoff Trustee Says Some Common Law Claims Remain Against UBS
(DBN)

Peter Madoff’s Aston Martin Priced at $200,000 to $250,000 by Auctioneer
(DBN)

Rothstein Trustee Sues Jeweler to Recoup $2.4 Million
(DBN)

Former Fred Leighton Owner Gets Jail Time for Fraud
(DBN)

West Virginia Court Voids All Money Owed To Blue Hippo
(DBN)

Fort Lauderdale Ponzi scheme suspect Joel Steinger might lose home, lawyer
(DBN)

Ponzi Hit Parade: The New Protest Songs
(DBN)

Donnan denies GLC allegations
(DBN)

10 years in prison for Germany's 'Mini-Madoff'
(DBN)

Christian-Radio Show Host Charged In Ponzi Scheme
(DBN)

Out-of-control fraud guidelines
(DBN)

______________

Hotels:

Hotel Madeline, Inn at Lost Creek turned over to bank
(DBN)

______________

Corporate Reform:

CFPB Finalizes List of Rules It Will Enforce
(DBN)

The CFPB's Top 3 Priorities
(DBN)

Will This Change Everything -- Again?
(DBN)

House clears bill to restructure CFPB, Obama threatens veto
(DBN)

CFPB Files Interim Rule on Mortgage Originations
(DBN)

Let CFPB work
(DBN)

The Travails of Ms. Warren
(DBN)

38 Minutes With Elizabeth Warren
(DBN)

The journal behind the CFPB
(DBN)

Obama's unwillingness to appoint Elizabeth Warren as head of the Consumer Finance Protection Board was a silly compromise
(DBN)

President caved to GOP with Cordray pick
(DBN)

Sen. Richard Shelby: 'Not Budging' on Filibuster Threat of Obama CFPB Nominee
(DBN)

Elizabeth Warren or Wall Street: Obama's $26 Million Decision
(DBN)

Cordray deserves swift confirmation
(DBN)

Dodd-Frank suffering a slow death
(DBN)

Half Of Bankers Think Dodd-Frank Will Be Ineffective
(DBN)

Dodd-Frank Rules May Be At Legal Risk After SEC Court Defeat
(DBN)

Is Enforcement Bad for Business, Mr. Banker? Boehner's Boys'll Fix That for Ya ...
(DBN)

The Case Against the Consumer Financial Protection Bureau
(DBN)

Washington’s Impetuous Vortex
(DBN)

______________

Corporate Governance:

Court slaps Schapiro, backs board games
(DBN)

______________

UK:

Euro crisis: 'Britons will be around 24pc worse off – a loss of €177 for every £500.'
(DBN)

Members of troubled pension schemes advised to seek protection
(DBN)

High Court Hears Fire Engine Owners Face Liquidation, Administration or Takeover
(DBN)

Financial restructurings of foreign companies through English schemes of arrangement
(DBN)

Appointment of Administrators - 22 July 2011
(DBN)

Winding Up Petitions - 22 July 2011
(DBN)

______________

EU:

Europe Debt Plan Relieves Pressure
(DBN)

Euro Rally Isn't Convincing
(DBN)

Europe's Troubled Economies Join the Rescue Team
(DBN)

After a Deal, Only More Challenges
(DBN)

Pact puts eurozone on bumpy road to fiscal union
(DBN)

Europe stocks pare gains as Greek relief wears off
(DBN)

______________

Canada:

Nortel retirees to see benefits slashed while legal battles settles
(DBN)

______________

PIIGS:

Ireland flags extension of bailout beyond 2013
(DBN)

IE: Superquinn Creditors 'Facing Cash Crisis'
(DBN)

Ireland benefits from Greek deal
(DBN)

IE: McInerney To Go Into Receivership After Ruling
(DBN)

A bottom for Greece's debt barrel
(DBN)

In Greek Pact, Compromises and Intrigues
(DBN)

Fitch Still Declares Greece in Default
(DBN)

Moody's warns Greek default virtually 100 percent
(DBN)

The CDS market and Greece’s default
(DBN)

When Default Inspires Relief
(DBN)

Greek Bailout May Not Be Cure-All That Europe Hopes
(DBN)

Greece has significantly advanced its legislation on bankruptcy
(DBN)

Spanish Banks’ Quest for Capital Piles Risk on Their Customers
(DBN)

Italian Banks Getting Dumped For The Second Straight Day Since Europe Was "Saved"
(DBN)

______________

Japan:

Japan plans $128 bln in reconstruction bonds
(DBN)

Government may buy all radioactive beef
(DBN)

Japan Court Approves Plan For Failed Lender Takefuji
(DBN)

______________

Latin America:

Rise of Consumer Credit in Chile and Brazil Leads to Big Debts and Lender Abuses
(DBN)

______________

Finland:

Elcoteq reviews legality of lenders' actions
(DBN)

______________

Please note that The Daily Bankruptcy News is primarily a curated 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 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.

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 service 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.

Press Releases/News Tips
Please send press releases and news tips to admin@bkinformation.com

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).

 

Copyright 2011