February 27, 2013

The Daily Bankruptcy News

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Law:

Why Law Firm Lawyers Care About Commas And In-House Lawyers Don’t
(DBN)

New Reed Smith office in Houston now has 17 attorneys and is looking to hire more
(DBN)

Bankruptcy Attorney John C. Thomas Joins Foley & Mansfield
(DBN)

Buying In: Still Outside the Gates
(DBN)

Trust But Verify Outside Counsel's Budget Prediction
(DBN)

Bankruptcy trustee to probe KEL finances: Bankruptcy trustee to probe KEL law firm finances and subsidiaries owned by partners
(DBN)

Kilpatrick scores in sharp turnaround
(DBN)

Mayer Brown sees key financials fall as revenue dips to six-year low
(DBN)

Covington & Burling's Gross Revenue Grew by 6.4 Percent in 2012
(DBN)

At Seyfarth, Revenue and Profits Rise
(DBN)

After Flat 2011, Cahill Swings to All-Time Highs in Revenue and Profits
(DBN)

Amid Partner Growth Spurt, Weil's Profits Drop
(DBN)

Cadwalader Shakes Things Up Again, as Cravath Proves Mortal
(DBN)

The End of Workplace Flexibility? --- The Mommy Bloggers Are Ripping Marissa Mayer To Shreds
(DBN)

The Curious Case Of Staff Sgt. Brandon Parsons
(DBN)

The Supreme Court Just Made It Easier For The Feds To Spy On You
(DBN)

Ray Nimmer steps down as UH Law dean, Alderman interim
(DBN)

Law Schools May Appear Worse in the Rearview Mirror
(DBN)

Ted Cruz Doubles Down
(DBN)

Law School Transparency: The disappeared
(DBN)

Gradenfreude: Two of the Best Rejection Letters I’ve Received
(DBN)

Even the bad lawyers are good at bamboozling
(DBN)

Five Dog Breeds for the Busy Associate Attorney
(DBN)

The Secret Facebook Likes Of The Legal Profession
(DBN)

The Best iPhone Apps to Replace Apple's Pre-Loaded Ones
(DBN)

Potty Police: Sheriff Runs Plates Of Car For Restaurant To Charge For Use Of Bathroom
(DBN)

Trusts Offer a Legal Loophole for Buying Restricted Guns
(DBN)

Suspended lawyer is charged with impersonating dead client, in order to bilk his estate
(DBN)

The Bachelor Had A Wife - Lawyer Suspended For Bigamy
(DBN)

Two Philly Guys Sue Budweiser Brewer for Weak Beer
(DBN)

Lindsay Lohan's Loopy Lawyer Filed Several Head-Scratching Legal Docs!
(DBN)

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Judges:

Benchslap of the Day: Justice Sotomayor Thinks You Should Turn Off Your Racist Light Bulb
(DBN)

Today at the Supreme Court: Moving The Starting Point
(DBN)

Judge Facing Ethics Challenge Because He’s Also a Stand-Up Comedian
(DBN)

Courthouse shooter had prior run-ins with lawyers over family dispute
(DBN)

Should judges disclose Facebook friends? ‘Context is significant,’ ABA ethics opinion says
(DBN)

Due to looming federal budget cuts, some immigration detainees are released nationwide
(DBN)

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Wall Street:

Stock index futures signal mixed open
(DBN)

Stocks Close Higher On News Of Housing Rebound
(DBN)

Wall Street bonuses rise 8% for 2012 but industry warns of looming layoffs --- Don't Get Too Excited About That Rise In Wall Street Bonuses
(DBN)

The Average Wall Streeter Still Makes A Staggering Amount More Than The Average New Yorker
(DBN)

Bernanke: There is no stock bubble
(DBN)

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Layoffs:

JPMorgan Chase to Slash $1 Billion in Costs; Cut Staff by 4,000
(DBN)

Yahoo's Risky Work-From-Home Memo --- Marissa Mayer's ban on telecommuting "smart, not ruthless," business analyst says --- Yahoo CEO Marissa Mayer's work-from-home memo is childish --- 4 Reasons Marissa Mayer's No-At-Home-Work Policy Is an Epic Fail --- CEO right: Yahoo workers must show up --- Yahoo Employee: 'Getting Your [Rear] To The Office Is Not Too Much To Ask --- Yahoo CEO Marissa Mayer Has Lost the Plot
(DBN)

Best Buy cutting 400 HQ jobs to save $150 million
(DBN)

JCPenney Cuts 10% of HQ Staff as Turnaround Prospects Falter
(DBN)

Union Criticizes Hostess Bidder for Failing to Promise Jobs
(DBN)

Mass layoffs down in January
(DBN)

Unforeseeable Business Circumstances Excused Troubled Company from Employer’s WARN Act 60-Day Layoff-Notice Requirement
(DBN)

Want to be Taken Seriously at Work? Stop Doing These Things
(DBN)

Chart: The many jobs that pay women less than men
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

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Distressed Investing:

Why Bankruptcies are on the Decline
(DBN)

Investors in struggling companies see signs of stress to come
(DBN)

Europe: Babson seeks $250M for new distressed debt fund
(DBN)

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Autos:

GM: Requesting $9 Million CEO Pay, Not $11.1 Million
(DBN)

House panel chides Treasury on GM, AIG pay
(DBN)

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Compensation:

Officials debate high pay at bailed-out firms
(DBN)

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Metals:

Ormet melts into bankruptcy again
(DBN)

Wells Fargo, Wayzata Support Ormet Sale with DIP Facility
(DBN)

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Food/Beverage:

Hostess gives $17.9 million in claims to end retiree benefits
(DBN)

Hostess' auction Thursday
(DBN)

Closing: Brooklyn's Oldest Bar P.J. Hanley's Goes Bankrupt
(DBN)

CEDC offers debt exchange or . . . bankruptcy
(DBN)

Drake's Bay Oyster Farm Not Shutting Down (Yet); Gets A Reprieve
(DBN)

Banah Sugar Bankruptcy Declared After Miami-Dade, Enterprise Florida Awarded Incentives
(DBN)

Miami-Dade Sees Failure in Company It Favored
(DBN)

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Religion:

There's Been A Subtle, Yet Important, Shift In How The Vatican Handles Sex Scandals
(DBN)

Lilly Foundation monitoring Charles Street AME bankruptcy
(DBN)

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Student Debt:

Student debtor who lost fair debt case loses again in Supreme Court
(DBN)

Private Student Loans Are A Tiny Part of the Debt Problem
(DBN)

More Wiggle Room for Student-Loan Debt?
(DBN)

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Politics:

Ben Bernanke Meets Elizabeth Warren
(DBN)

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Coal:

Another 10 people arrested during Peabody Energy protest downtown
(DBN)

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Succession:

Many Firms Don't Survive After Owners Die
(DBN)

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Predatory Lending:

Title Lending’s Big Question: Dude, Where's My Car?
(DBN)

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Economy:

Dow, S&P rise as Bernanke defends policy, warns on cuts
(DBN)

Bernanke leans on housing, exit from MBS purchases unknown, may never sell
(DBN)

Obama: The Sequester Is A 'Pretty Bad Name,' But Its Effects Are Going To Be Even Worse --- States That Are Going To Get Slammed Hardest By The Sequester --- House Republicans Are At War With Economists And Their Own Researchers --- More spin than solutions as spending cuts near --- Sequestration Will Wreak Chaos On US Federal Prisons --- These World-Class Navy Ships Are Going To Deteriorate --- Sequester Job Cuts Likely to Be Costly to Firms
(DBN)

Consumer Confidence in U.S. Rose More Than Forecast in February
(DBN)

About 30% of Benefit Recipients Say They Are Disabled
(DBN)

Survey: Only 55 percent of Americans have more savings than credit card debt
(DBN)

Warren versus Bernanke: A Senate Showdown
(DBN)

How A Family Of Four Manages To Live Well On Just $14,000 Per Year
(DBN)

US Debt Clock
(DBN)

Economic Indicators Dashboard
(DBN)

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Real Estate:

US home prices cap year with biggest rise since 2006 --- Surge 15.6% Crushing Expectations --- A few Comments on New Home Sales
(DBN)

A Look at Case-Shiller, by Metro Area
(DBN)

Shiller’s Bottom Line: Risk Lingers in Housing
(DBN)

Ally and ResCap foes over $2 billion --- ResCap Creditors Say They May Pursue Litigation Against Ally
(DBN)

Case-Shiller: Comp 20 House Prices increased 6.8% year-over-year in December
(DBN)

JPMorgan Chase to Sell Mortgage Servicing Unit to Wingspan
(DBN)

Mortgage Rates Tick Up
(DBN)

It’s time to abolish the FHFA
(DBN)

Housing’s ‘Wealth Effect’ Isn’t What It Used To Be
(DBN)

Homebuilder Stocks Are Surging
(DBN)

Home Depot boosted by early signs of US housing recovery
(DBN)

Sears Once Ruled The World From This Decaying Office Tower In Chicago
(DBN)

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Aviation:

A Look at the US Airways-American Airlines Merger
(DBN)

The American Airlines-US Airways Merger in an Evolving Airline Industry
(DBN)

American, US Airways execs face gentle questioning in Congress
(DBN)

Which airlines will survive? It's all in a 1995 book
(DBN)

Airlines, Not Yet Where They Want To Be, Make 21 Cents Per Passenger
(DBN)

Lawmakers ask whether American merger will hurt service --- AMR Says Merger Will Preserve Competition
(DBN)

Spain's Orizonia says flights normal, no tourists stranded by bankruptcy
(DBN)

Govt withdraws flying slots of Kingfisher Airlines --- SBI may issue loan recall notice to Kingfisher soon --- IndiGo, SpiceJet to compete for Kingfisher's flying slots
(DBN)

Alitalia Chief Quits As Loss Deepens
(DBN)

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Newspapers:

Tribune Co. Hires Bankers to Sell Newspapers: Sources --- Tribune has hired Evercore
(DBN)

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Hollywood:

Life of Pi special effects Oscar win bittersweet for animator
(DBN)

The Visual Effects Problem in Hollywood
(DBN)

Effects Community Mobilizes at Hollywood Protest
(DBN)

Rhythm & Hues identifies buyers
(DBN)

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Municipalities:

Detroit: Mike Duggan is clear he wants to be mayor --- Don't let mayor's race fuel EM resentment --- Opposition to possible Detroit emergency manager grows louder --- NAACP To Snyder: Once You Name An EM, Detroit Is Your Responsibility
(DBN)

Detroit's fiscal opera will end with bankruptcy aria
(DBN)

Financial report: Detroit council's response unclear after private meeting nixed
(DBN)

Detroit's NAACP says State Should Partner With, Not Oversee the City
(DBN)

Emergency Manager Won’t Work In Detroit, Hasn’t Worked Elsewhere
(DBN)

Detroit council cancels closed meeting after legal questions raised
(DBN)

Stockton: City reaches accord with bond insurer creditor
(DBN)

Trial on Stockton, California's bankruptcy eligibility next month --- Stockton's CalPERS payments will be tested in March bankruptcy trial
(DBN)

San Bernardino and CalPERS Continue Battle Over City’s Debtor Eligibility
(DBN)

How many said, “Don't try for me, San Bernardino”?
(DBN)

Simpson: San Bernardino must bolster Finance Department
(DBN)

Woonsocket Retirees Offered Choice Between Static Pensions, Uniform Healthcare And Bankruptcy
(DBN)

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Corporate Reform:

States Are On A Mission To Take Down A Major Consumer Watchdog
(DBN)

SEC budget in line of fire as House panel seeks cuts
(DBN)

U.S. regulator says settlements with banks are appropriate
(DBN)

______________

Gambling:

Casino bankruptcy is lesson for Mass.
(DBN)

______________

Debt Collection:

FTC Releases Complaints Report for 2012: Debt Collection ...
(DBN)

US appeals court voids Encore robo-signing settlement
(DBN)

______________

Banking:

FDIC describes bad loans in case against American Marine Bank
(DBN)

US banks post highest profits since 2006 --- Profits rose nearly 20% last year -- largely from reducing loan loss reserves
(DBN)

Banks Processing Internet Payday Payments through Bank Accounts that Customers Asked be Closed
(DBN)

Elizabeth Warren Absolutely Grilled Ben Bernanke On Too Big To Fail Banks' '$83 Billion Subsidy'
(DBN)

Banks Face Key Hurdle in Libor Fight
(DBN)

Banks are dumping their crisis-era CDO books, and hedge funds are buying
(DBN)

______________

Lehman:

Lehman Gets $16.3 Billion in Claims on Defunct Brokerage
(DBN)

Lehman Trustee Offers Details on Claim Settlements, Payback
(DBN)

______________

Finance:

Asset-Based Loans: Not Your Father's Pawn Shop
(DBN)

______________

Brokers:

Hedge-Fund Manager Aurelius Backs J.P. Morgan in MF Global Fight
(DBN)

______________

Retailing:

Radio Shack's 4Q Loss Steeper Than Expected, 4th Straight Quarterly Loss
(DBN)

Why bulls are tuning into RadioShack
(DBN)

______________

Mass Torts:

BP Profit Push ‘Root Cause’ of Gulf Spill, Witness Says
(DBN)

Accusations Fly as Trial Over Gulf Oil Spill Begins
(DBN)

______________

Alternative Energy:

First Solar Outlook Disappoints; Shares Skid
(DBN)

______________

Personal Finance:

The Truth Behind 7 Personal Finance Myths
(DBN)

______________

Agriculture:

Farm's future in doubt
(DBN)

______________

Resorts:

Compromise will keep Naples Bay Resort open, obtain loan and pay debt
(DBN)

______________

Video Games:

THQ selling off remaining IPs
(DBN)

______________

New Bankruptcy Opinions
(3 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Chapter 7, 12 & 13 Private Trustee Locator
(DBN)

Recent Ch. 11 Filings (31 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (4 new filings today)
(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)

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Bankruptcy Statistics:

 

Interactive Bankruptcy Statistics Map
(DBN)

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Disclosure:

There is no "Oops Defense" When Debtor Lies Or Misleads the Court In Schedules And Pleadings
(DBN)

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Committees:

An Introduction to Chapter 11 Creditors’ Committees
(DBN)

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Sales:

Sour Grapes: This Deal May Have Been Corked But Can’t be Put Back in the Bottle – Court Rules Fire Sale of Vineyard was Unconscionable but not “Fraudulent”
(DBN)

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Recent Pleadings:

 

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Insurance:

Can an Excess Insurer Sue a Primary Insurer’s Defense Counsel for Malpractice?
(DBN)

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TBTF:

Elizabeth Warren , Ben Bernanke Clash Over 'Too Big To Fail' --- The Too Big To Fail Subsidy Is Negative Sixteen Billion Dollars, Or Possibly Some Other Number
(DBN)

Judge puts AIG/New York Fed case on hold, BofA still on
(DBN)

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Celebs:

Casey Anthony bankruptcy trial to stay in Tampa
(DBN)

Michael Jackson's skin medic Arnold Klein avoids arrest in bankruptcy case
(DBN)

This Is Why So Many Professional Athletes Are Going Broke
(DBN)

25 Regular People Who Married Into Royalty
(DBN)

The Mass of Contradictions that Define "Bad Boys" in Sports, Art, Life, and the Law
(DBN)

______________

Electricity:

KKR, TPG aim to avoid bankruptcy of Energy Future
(DBN)

_____________

Textbooks:

Textbook Publisher Cengage Opens Discussions With Restructuring Advisers
(DBN)

______________

Health Care:

Facilities' bankruptcy filing marks latest twist in Connecticut nursing home strike
(DBN)

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Corporate Governance:

A Warning on Abuses of Shareholder Power
(DBN)

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Fraud:

Bernard Madoff urges investigators to keep pursuing big banks
(DBN)

Judge certifies Madoff feeder fund class action
(DBN)

New Stream Fund Executives Charged With Securities Fraud
(DBN)

It's All Over for SoCal Ponzi Man
(DBN)

Miami first deals with Ponzi schemer, now NCAA
(DBN)

Judge freezes assets related to precious metals firm
(DBN)

Feds only 10 yrs. late on Cohen’s ‘inside’ job
(DBN)

Walnuts Filled With Cement?
(DBN)

______________

Basketball:

Bankruptcy trustee may hurry up and sell minority stake in Sacramento Kings --- Details of Seattle deal for Sacramento Kings remain sealed in Bob Cook bankruptcy case
(DBN)

______________

Pensions:

Low rates and longer life spans are killing corporate pensions
(DBN)

Providence, RI claims firm missed $10 mln in pension costs
(DBN)

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Sovereigns:

Argentina vs. hedge funds debt drama
(DBN)

______________

UK:

Rise in number of distressed law firms
(DBN)

Government to force suppliers to maintain services to insolvent firms
(DBN)

New chair of insolvency body R3 in the Midlands appointed
(DBN)

End of ransom payments in insolvencies
(DBN)

Government tackles suppliers’ demands in administration
(DBN)

Harrisons administrators called to law firm Calibre Solicitors
(DBN)

Scottish businesses in line for £400m tax bill
(DBN)

Dundas insolvency head quits for Pinsent Masons
(DBN)

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EU:

ECB bond plan in jeopardy as Italy's voters reject conditions
(DBN)

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PIIGS:

Italy's election mess won't knock out Europe --- Why Italy caused global markets to crater, and what happens now
(DBN)

Bankruptcy Cheat Must Face the Music in Italy
(DBN)

Irish Exit Emergency Ward With Bank Guarantee End, Noonan Says
(DBN)

Portugal opposition chief demands renegotiation of bailout
(DBN)

Three in ten Greeks facing poverty risk
(DBN)

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Canada:

The Fairness of Tracing: Ontario Court of Appeal Considers Methods of Distributing Remaining Funds to Victims of a Ponzi Scheme
(DBN)

Ottawa sinks $540-million into student loan write-offs
(DBN)

______________

Germany:

German Supreme Court renders ipso facto clauses invalid and unenforceable
(DBN)

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Hong Kong:

Aerial Views Of Hong Kong's Tiny 'Cage' Apartments
(DBN)

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Thailand:

Thai Bankruptcies Rise as Minimum Wage Rolls Out
(DBN)

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Mexico:

Vitro at Highest Since 1997 on Legal Cases
(DBN)

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MENA:

Nakheel pays additional Dh206m to creditors
(DBN)

The complicated but lucrative world of restructuring
(DBN)

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India:

India issues optimistic economic growth forecast
(DBN)

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China:

China's 'Dubai' is deserted
(DBN)

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Lithuania:

Natural persons in Lithuania to be able to go bankrupt as of March 1
(DBN)

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