March 1, 2013

The Daily Bankruptcy News

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Law:

BigLaw Growth is Dead. Here's What's Next
(DBN)

DC law firm Patton Boggs lays off lawyers, sources say
(DBN)

Layoff Watch: Staff Stricken at Stroock --- Remember When Word Processing Came to Corporate? Some phenomenon happening in legal sector
(DBN)

White & Case, Haynes & Boone, Weil: Business of Law
(DBN)

SJ Berwin postpones partners' quarterly profit payments to boost cash flow
(DBN)

Court Approves Dewey Bankruptcy Plan, Officially Dissolving Firm --- Dewey administrators seal deal to pay UK creditors
(DBN)

Law firms increasingly shun borrowing, relying instead on increased capital contributions
(DBN)

In 2012, Dickstein Shapiro's Gross Revenue Dipped, But Net Income Grew
(DBN)

For Debevoise, the World Was Flat in 2012
(DBN)

UK: Retention rates at top 20 decline as economic climate pushes firms to cut back
(DBN)

A 'Smarter Business Development Model' for Law
(DBN)

Ending 16-Year Run, Immergut Stepping Down as Milbank Chair
(DBN)

2013 raises to peak for midlevel associates at midsize firms
(DBN)

Lateral Market Slowdown; Sign of the Times
(DBN)

'Debt Wizard' offers law students a glimpse of their futures
(DBN)

Signing Bonuses: Fairy Dust Gold Rush
(DBN)

Can lawyer name clients on blog without permission? This court says yes
(DBN)

Insurers are hiring lawyers, with an eye on privilege
(DBN)

Why lawyers can’t write
(DBN)

Apt to make apps? What you need to consider before jumping in
(DBN)

Calculating Dates with Siri
(DBN)

Want to Be Invisible? Have Only a Firm Website
(DBN)

Grassley Targets DOJ for Use of Gulfstream Jets
(DBN)

Why women leave law firms, and when they’ll return
(DBN)

Women in Legal Sector: Why aren't they rock stars like women in tech?
(DBN)

The Kevin Ring Case Is a Scandal and a Disgrace: Five Things You Should Know
(DBN)

From Law To Lingerie: Why One Harvard Grad Chose Bras Over The Bar
(DBN)

Thanks to talk show, 3L who wants to save the world has $20K to help pay her student debt
(DBN)

Why don’t law grads participate in loan repayment programs?
(DBN)

The Newcomb Problem of Going to Law School, Vet School, or Becoming a VAP
(DBN)

Banker Sues Her Firm After Co-Workers Called Her 'Crazy Miss Cokehead' In Messages
(DBN)

Lindsay Lohan’s Lawyer Is Ready To Solve All Her Problems
(DBN)

Mom Kills 9-Year-Old Son With Small P----
(DBN)

Taxi driver dies after being handcuffed to police vehicle and dragged
(DBN)

I Need A Contract Attorney: An ‘Ivy League’ Contract Attorney
(DBN)

Man charged with killing, dismembering mother appears in court wearing trashbag
(DBN)

Secretary dumped law firm client, then settled his case and cashed the check, arrest affidavit says
(DBN)

How to make a legal thriller less thrilling (photo gallery)
(DBN)

Stanford-Educated Attorney Convicted of Racketeering Jumps Off Bridge
(DBN)

Thunder Road: Suspension Recommended For Attorney Charged With DUI Who Led Police On High-speed Chase Through Two States
(DBN)

Oakland Rapper Pope Emeritus Threatens Lawsuit --- How the Pope's Retirement Package Compares to Yours
(DBN)

Expectant mom sells naming rights for baby
(DBN)

World-Class Screw-up at FedEx
(DBN)

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Judges:

Judge literally applauds progress of teen jailed for courtroom bird flip
(DBN)

The Funniest Justice, week 10: Extra time for laughter
(DBN)

Sotomayor, Kagan ready for battles
(DBN)

Clarence Thomas Says The Other Justices Should Shut Up And Listen
(DBN)

CA Court Bureaucracy Must Account for Pay, Size and Legal Fees Amid Criticism
(DBN)

Judge raises eyebrows after sentencing a teen to church
(DBN)

Judge sets May 7 sentencing for Judge Joan Orie Melvin
(DBN)

A Bad Day At the Office
(DBN)

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Wall Street:

Stock index futures signal mixed start to March
(DBN)

US stocks slip at the close ; up in February
(DBN)

Why the stock market is yawning over the sequester
(DBN)

Banker bonuses down? Don't believe a word of it.
(DBN)

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Layoffs:

Initial jobless claims dropped last week to 344,000
(DBN)

The Excessive Uproar Over Marissa Mayer's Telecommuting Ban
(DBN)

Women's Pay—Jobs with Smallest Gender Gaps; Best Cities to Make Money
(DBN)

Man Stabs Himself Rather Than Go to Work at Blockbuster
(DBN)

4 Degrees That Guarantee A Job Offer
(DBN)

AFL-CIO Enters into Survival Mode
(DBN)

Five jobs a robot could never steal --- Rise of the robots beyond assembly line
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

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Entertainment:

Girls Gone Wild empire put into bankruptcy to keep it from Steve Wynn --- Girls gone under
(DBN)

Girls Gone Wild's Bankruptcy Strategy Is As Bad As Its Videos
(DBN)

Joe Francis: I’m Not Going Broke
(DBN)

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Lehman:

Lehman Brothers Is Trying To Blame JP Morgan's London Whale For Its Bankruptcy --- The London Whale Also Isn’t Responsible For Those Last 10 Pounds You Haven’t Lost --- JPMorgan Fights Lehman Bid to 'Harass' by Querying Iksil
(DBN)

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Hotels:

LodgeNet Receives Final Access to Bankruptcy Loan
(DBN)

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Food/Beverage:

Contessa Closes Chapter 11 Case After Creditors Get Paid In Full
(DBN)

Sale of Golden Guernsey Dairy may be imminent, creditor says
(DBN)

Grupo Bimbo Wins Beefsteak Bread From Hostess: Source
(DBN)

Twinkie Bankruptcy: Hostess bread brands, save Beefsteak, reportedly see no rival bids; final price for brands and assets could exceed $1B
(DBN)

Hostess Case — Bankruptcy Court Refuses to Send Cash Collateral Dispute to Arbitration
(DBN)

Avocado Importers enters consent decision in PACA case
(DBN)

There Are Two Popular Secret Menu Items At Chipotle Headquarters
(DBN)

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Health Care:

Sequester's Medicare cuts have hospitals taking budgets day by day --- Illinois hospitals brace for cuts --- Sequester threat puts health officials on 'uncharted ground' --- ' Sequester ' cuts to hit healthcare hard
(DBN)

San Diego Hospice Needs $2 Million To Care For Dying Patients
(DBN)

Ex-owner of senior-housing chain files for bankruptcy
(DBN)

Millions 'making themselves ill by spending working lives sitting down'
(DBN)

How Mom's Death Changed My Thinking About End-of-Life Care
(DBN)

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Economy:

US economy grew at 0.1 percent rate in 4th quarter
(DBN)

Jobless Claims in U.S. Decreased More Than Forecast Last Week
(DBN)

NACM: Economy Has Stalled
(DBN)

Obama: Sequester impact will be gradual ---
Countdown to spending cuts: A matter of hours ---
US Stares Down Start of Steep Budget Cuts ---
Five Myths About the Sequester ---
A Graphic Guide to the Sequester ---
Government workers riled up ahead of automatic budget cuts ---
$85 Billion Versus $42 Billion: The New Sequester Argument--- Sequestration Is Happening, But Effects Are Unclear ---
Senate Plans Symbolic Votes as Spending Cut Set to Begin ---
In sequestration's 11th hour, finger-pointing reigns in Congress
--- Sequester is only the latest Obama-GOP budget battle---
U.S. Set To Repeat Europe's Austerity Mistake ---
US markets advance as ' sequester ' looms ---
Sequestration is the Wrong Kind of Certainty for Small Business
---
Gen Y: The sequester is going to annoy you ---
The sequester debate gets weird
---
The Sequester Will Be Worst for the Nation's Poorest Schools --- 'Sequester' Grounds Biden ---
Fed unions vow: We’ll get payback ---
Student Loan Fees Are Going To Skyrocket When Sequestration Hits
---
Some Of The Starkest Comments Yet That Businesses Are Seeing A Slowdown Due To The Sequestration ---
Budget Cuts to Hit Main St., but Sky Won't Fall March 1
---
Why Washington can't cut wasteful spending
(DBN)

Kansas City Fed Manufacturing Plunges, Contraction Accelerates
(DBN)

Consumer Debt Rises for 1st Time in Four Yrs
(DBN)

Household Deleveraging Over?
(DBN)

How Many College Graduates Live Back at Home
(DBN)

Americans Believe (Incorrectly)That China Is Most Powerful Economy
(DBN)

Bernanke Claims Fed Bankruptcy Is Irrelevant
(DBN)

US Debt Clock
(DBN)

Economic Indicators Dashboard
(DBN)

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Real Estate:

Rate on 30-year mortgage declines to 3.51%
(DBN)

US breaks down $9.3 bln robo-signing settlement
(DBN)

New York AG investigating BofA for mortgages - filing
(DBN)

Ally Financial's ResCap Wants to End Foreclosure Review Process
(DBN)

Foreclosure-Related Homes Still Driving Sales
(DBN)

U.S. Regulators Lay Out Compensation Plan for Foreclosure Accord
(DBN)

Sen. Warren amplifies need for FHA, GSE reform
(DBN)

JPMorgan opposes Lehman Brothers bid
(DBN)

The Bad News: JPM Is Laying People Off; The Good News: JPM Is Laying People Off
(DBN)

Nevada Ruling Suggests Lenders Wait Until Foreclosure Before Pursuing Guarantor Claim
(DBN)

___________

Retailing:

Sears tops estimates; some skeptical about turnaround --- Lampert: Sears/Kmart becoming a membership store
(DBN)

Barnes & Noble Swings to Surprise 3rd-Quarter Loss
(DBN)

Cramer: JC Penney 'Is in a True Tailspin' --- JC Penney's Johnson is on a short leash --- JC Penney Lowest Sales in Decades Show Johnson Stumbles
(DBN)

Who Killed JC Penney?
(DBN)

How Much Are Big Investors Losing on J.C. Penney?
(DBN)

S&P Slashes JC Penney's Credit Rating To CCC+
(DBN)

J.C. Penney's Poor Showing Is Another Retail Miss for Ackman
(DBN)

Veteran Retail Analyst Is Fed Up With JCPenney: 'This Is All A Farce'
(DBN)

Analyst: JC Penney Deferring Payments To Suppliers To Shore Up Cash
(DBN)

These Retailers Face Most Risk From Amazon's 'Showrooming' Mobile Customers
(DBN)

Best Buy’s Talks With Founder Said to Have Ended
(DBN)

______________

Celebs:

'Girls Gone Wild' bankrupt
(DBN)

______________

Municipalities:

Bing: Snyder to make announcement Friday on Detroit's future --- Snyder Will Announce State Takeover --- Emergency manager coming, Bing indicates --- Distressed Detroit Buffeted by Dueling Reports on State Takeover
(DBN)

The 10 Happiest States In America
(DBN)

Now-defunct Prichard Water Board takes legal battle to Alabama Supreme Court
(DBN)

Stockton Bankruptcy Going to Trial
(DBN)

The Fall Out From Sequestration - The Potential Municipal Impact?
(DBN)

______________

Corporate Reform:

Breuer Reflects on Prosecutions That Were, and Weren't
(DBN)

______________

Alternative Energy:

Abound Solar Reportedly Was Aware of Defects
(DBN)

First Solar may recycle 100000 Abound Solar CdTe panels
(DBN)

______________

Brokers:

Peregrine’s $20M Green Headquarters on the Market
(DBN)

Peregrine boss Wasendorf starts serving 50-year jail term
(DBN)

______________

Aviation:

US Airways flight attendants ratify new contract on third try
(DBN)

AMR earns $44 million in January 2013
(DBN)

Bankrupt airline proves to be a winning lottery ticket
(DBN)

Frontier Airlines' fate may be settled by end of March
(DBN)

IAG slumps to loss amid Iberia woes
(DBN)

United Fliers Can Zip Through Security for $9

'Shakes' on a Plane? FAA Probes Stunt on a Flight
(DBN)

______________

Banking:

RBS, Barclays to Recoup LIBOR Fines from Employees
(DBN)

RBS posts $9 billion loss for 2012 after setting aside cash to pay fines related to LIBOR scandal
(DBN)

Elizabeth Warren On Bank Subsidy
(DBN)

Hedge fund in 'Whale' trade tried to poach JPM employees - sources
(DBN)

______________

Skiing:

Berks County bank high bidder for Snö Mountain
(DBN)

______________

Debt Collection:

Sixth Circuit Throws Out Debt-Buyer Settlement
(DBN)

______________

Credit Reporting:

Secret Creditor Reports, Overdraft Fees and the New Unbanked: The Perfect Storm
(DBN)

______________

Finance:

Sequestration: Growth-Juice for Alternative Lenders?
(DBN)

______________

Gambling:

As Casinos Struggle, New Jersey Tries New Ways to Bet
(DBN)

______________

Mass Torts:

BP Misled Regulators About Macondo Well, Expert Testifies
(DBN)

BP oil spill probe did not address cost overruns - exec
(DBN)

BP Exec Ousted After Deepwater Horizon Denies Forsaking Safety
(DBN)

BP’s Spill Probe Didn’t Focus on Management, Witness Says
(DBN)

______________

Student Debt:

Student debt has almost tripled in the last 8 years, average balance up 70% --- Growing Economic Problem
(DBN)

Rising Student-Loan Delinquencies Hurt Young Homebuyers
(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 (36 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (13 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)

______________

Bankruptcy Statistics:

Interactive Bankruptcy Statistics Map
(DBN)

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Bankruptcy Reform:

Going Up: Bankruptcy Dollar Amounts Will Increase On April 1, 2013
(DBN)

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Tax:

Section 505(a)– Authority of Bankruptcy Court to Rule on Tax Claims
(DBN)

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Plan Confirmation:

In Confirming Indianapolis Downs Chapter 11 Plan, Delaware Bankruptcy Court Provides Guidance on Permissibility of Binding Plan Support Agreements
(DBN)

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Contracts:

Debtor Beware: Strict Enforcement of Contract Terms May Go Both Ways
(DBN)

______________

Insurance:

MBIA flags ' going concern ' doubts, liquidation risk for unit
(DBN)

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Fraud:

Bill on Bankruptcy : Secret Madoff Agreement May Harm Victims
(DBN)

Payment of Interest on Investment or Loan: Does it Matter in a Ponzi Scheme?
(DBN)

In Heinz Case, an Opaque Bet in London
(DBN)

Insider Trading's Smart Cheats
(DBN)

Is Miracle Match a ponzi or charity?
(DBN)

No Malpractice For Bankruptcy Escrow Funds Caught Up In Drier Case
(DBN)

______________

Litigation:

Sovereign Bank, Land Developer Reach Accord in Bankruptcy Sanctions Discovery Dispute - Bank To Pay $150,000
(DBN)

Cornerstone Research Releases 2012 M&A Litigation Report --- Lawyers chase cut on nearly all major mergers
(DBN)

Delaware Supreme Court Won't Clarify Hurdle for Shareholder M&A Plaintiffs
(DBN)

______________

TBTF:

Banks are still too big to fail , too big to ignore
(DBN)

______________

Electricity:

TXU's Troubles Prove Boon for Advisers
(DBN)

______________

Tech:

Soros Fund Entity Provides DIP in Conexant Bankruptcy
(DBN)

______________

Autos:

New Cars Out of Reach for Many Americans... 'Only in DC could typical household swing payments'
(DBN)

Auto Industry Not Worried About Sequester
(DBN)

Chrysler And Whole Auto Industry Adding Jobs To Meet Surging Sales
(DBN)

GM Cuts Deal for German Workforce, Factory
(DBN)

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Sovereigns:

Argentine Bond -Insurance Cost Leaps --- Bonds Diving After The Country Made Its Most Defiant Showing In Court Yet
(DBN)

No Food, No Phone, All Heat, Some Light: Dispatches from the Pari Passu Hearing (Updated to Reflect Rehearing Decision)
(DBN)

Dispute revives fear of Argentina default
(DBN)

Disappearing Dollars Compound Default Threat in Argentina
(DBN)

Argentina stands by refusal to pay holdouts
(DBN)

Libya consults lawyers over Goldman Sachs dealings
(DBN)

______________

UK:

The Banker Bonus Debate Is Getting Nasty In London --- Bonus Rules May Just Reinforce, Not Overhaul, Pay Practices --- Bonuses: the essential guide --- Salary Surge Seen in Europe's Plan to Restrain Banker Bonuses --- Banks seek ways to mitigate European bonus curb --- Europe Makes Its Bankers Tie 'One-Arm' With Bonus Cap Plan
(DBN)

Five top Cobbetts' partners given marching orders
(DBN)

Fee pressure deters rising stars at Bar as silk applications dip
(DBN)

Cross Border Restructuring and Insolvency Update - February 2013
(DBN)

Portsmouth administrators rack up £2.2m in fees
(DBN)

E&Y administrators save 2,100 jobs at Republic
(DBN)

UK bank RBS buckles under pressure to shrink
(DBN)

British Manufacturing Index Unexpectedly Contracts in February
(DBN)

______________

EU:

Europe's unemployment chart says it all
(DBN)

Will EU bonus cap 'damage economy'?
(DBN)

Euro zone jobless hits another record
(DBN)

The German Miracle Continues: Manufacturing Grows Again While Things Stay Miserable In Countries All Around It
(DBN)

______________

PIIGS:

Panic In Greek Pharmacies As Hundreds Of Medicines Run Short
(DBN)

More Bad News For Italy: PMI Comes In Miserable--- Italy Unemployment Hits 21-Year High
(DBN)

______________

Germany:

400 jobs go as German paper is 'saved'
(DBN)

______________

France:

Belvedere shareholders approve debt restructuring --- Call for board dismissal
(DBN)

______________

Iceland:

Straumur’s Einarsson Dismissed After Report on U.K. Tax Evasion
(DBN)

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Australia:

Fallen Icons Defy Australia’s 3% Growth Rate
(DBN)

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Cyprus:

Investors scent Cyprus returns if default fears rise
(DBN)

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Russia:

Moscow is billionaires' capital of the world
(DBN)

______________

China:

Cleanup Begins for a Chinese City Flooded With Bad Debt
(DBN)

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Copyright 2013