May 15, 2013

The Daily Bankruptcy News

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Law:

Bankruptcy Trustee demands extraordinary penalties against Capstone over alleged GSC coverup
(DBN)

America's Young Corporate Lawyers Are More Miserable Than Ever
(DBN)

Most States Saw Lawyer Surplus Grow From 2009 to 2011
(DBN)

Taking the temperature of practice areas in 2013
(DBN)

A bankruptcy lawyer who identifies with her clients
(DBN)

The More Law Schools Change, The More Law Faculty Will Start Pitching A Fit
(DBN)

Law Schools Are Looking Beyond LSATs
(DBN)

How Much Does Your Law Professor Make? University of Texas Edition
(DBN)

Donors Lavish Money on Law Schools
(DBN)

Adventures in Lawyer Advertising: Meet the Smoothest Lawyer in Town
(DBN)

Yes, It Is Worth Making A Federal Case Over Angelina Jolie’s B----
(DBN)

AG Holder ‘Confident’ DOJ Followed Rules in AP Phone Review
(DBN)

CNN Airs Disturbing New Photos Of Cleveland Kidnapping Suspect's Yard
(DBN)

Lawyer sanctions in Minnesota could set record; is economy a factor?
(DBN)

What Life Is Like For The 2 Million People Behind Bars In America
(DBN)

Cuffed client decks lawyer with ‘baseball bat fashion’ punch during hearing
(DBN)

Law clerk of 28 years diverted $3M from real estate lawyer, authorities say
(DBN)

Tardy juror doubles down, fails to appear for contempt hearing
(DBN)

Investors Claim They Were Sold a Factory Terrorized by Drug Cartel
(DBN)

Franz Kafka Heroes Challenge Traffic Tickets
(DBN)

Say What?!
(DBN)

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Judges:

Judge Lays the Benchslap on ‘Dangerous’ Cop
(DBN)

Supreme Court plays Shakespeare tragedy for laughs
(DBN)

Banned from bench over refusal to give up board seat, ex-judge is now accused of lying during probe
(DBN)

Top tax court judge should be suspended 9 months without pay, review panel says
(DBN)

Law-prof-turned-TV-judge dies at the age of 92; his on-air career began in 1958
(DBN)

Few minorities and women argued Supreme Court cases this term
(DBN)

Convicted judge Orie Melvin to pay fines from her pension
(DBN)

Boston Bombing Judge Emerges as Target for Republicans
(DBN)

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Wall Street:

Stock futures lower after record Wall Street closes
(DBN)

Stocks Melt Up To An All-Time High
(DBN)

10 Things You Need To Know Before The Opening Bell
(DBN)

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Layoffs:

The Pace Of Hiring In America Is Virtually Unchanged Since The Recession
(DBN)

‘STFU’ Is AIG CEO’s Advice To College Grads
(DBN)

Young Shun Jobs in Oil and Gas Industry
(DBN)

High-Paying Careers For People With Notoriously Low-Paying Degrees
(DBN)

Pentagon to Furlough Up to 650,000 Workers
(DBN)

RBS Chairman Signals Further Job Cuts, More Branch Closures
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

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Aviation:

Airlines collected record baggage fees in 2012
(DBN)

Croatia Airlines pilots and cabin crews go on strike over restructuring and pay cuts
(DBN)

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Autos:

Michigan reaping benefits of post-bankrupt GM growth, IT transformation
(DBN)

How to Make Young People Buy Cars Again
(DBN)

Repossessions Rise Along With Automakers' Rebound
(DBN)

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Soccer:

Greek club AEK Athens to declare bankruptcy
(DBN)

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Politics:

White House Press Secretary Dodges Questions About Benghazi, The IRS, And The DOJ's AP Phone Scandal
(DBN)

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Student Debt:

This Creepy New Film Perfectly Captures The Crippling Effects Of Student Debt
(DBN)

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Corporate Reform:

The Economist explains: Why have so few bankers gone to jail?
(DBN)

Senator Warren: Show me the economic analysis on settlements vs trials
(DBN)

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Awards:

Litigation Department Of The Year Winner: Bingham McCutchen's Hartford Office Relishes High-Stakes Cases
(DBN)

Litigation Department Of The Year Winner: McCarter & English Embraces Team Concept To Handle Difficult Cases
(DBN)

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Retailing:

JC Penney Extends and Raises Offer to Buy Back Debentures
(DBN)

Ackman getting frozen out in Penney board spat
(DBN)

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Economy:

What $11.23 Trillion Worth Of Household Debt Looks Like
(DBN)

CBO: The Deficit Is Going To Be Much Smaller This Year Than We Expected --- The CBO says the deficit problem is solved for the next 10 years
(DBN)

Copper Prices Are Tumbling
(DBN)

Wednesday: Industrial Production, Builder Confidence, PPI, Empire State Mfg Survey
(DBN)

Households Cut Overall Debt, but Student Loans Jump -- NY Fed: Consumer Debt declines in Q1, Deleveraging Continues
(DBN)

Shortage Of Government Bonds
(DBN)

DC Saved Economy, Destroyed Job Market
(DBN)

Road Underfunding Now $185bn Annually
(DBN)

A 'Radical' Economics Experiment Is Taking Place Right Now, And It's Proving The Tremendous Power Of The Fed
(DBN)

Author Says That Government Policies Have Killed 'The American Dream' For Millennials
(DBN)

US Debt Clock
(DBN)

Economic Indicators Dashboard
(DBN)

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Real Estate:

14 American Housing Markets Struggling With Foreclosures
(DBN)

Ally reaches ResCap creditor deal that should allow US exit --- Term Sheet Signed With Ally and Creditors -- Ally, ResCap creditors race to finalize settlement --- ResCap Estate Enters into Plan Support Agreement --- Ally's ResCap Settlement May Aid Government Exit
(DBN)

Ally dodges a bullet but now must battle Buffett
(DBN)

US mortgage delinquency rate lower than it first appears: TransUnion
(DBN)

US Mortgage Apps Fall in Latest Week as Rates Rise
(DBN)

Housing recovery no longer constricted as confidence booms
(DBN)

Multifamily Still Hot, but Slows in Auctions
(DBN)

Fitch: New U.S. CMBS Delinquencies Haven't Been This Low Since 2008
(DBN)

Wells Fargo Blamed for Death by Foreclosure
(DBN)

Mass. AG Announces Program to Help Municipalities Act on Distressed Properties
(DBN)

Sacramento: Conventional Sales over 68% of Housing Market in April, Highest percentage in Years
(DBN)

Existing Home Inventory is up 13.5% year-to-date on May 13th
(DBN)

Deutsche Bank Unit Loses Bid to Dismiss Mortgage Suit
(DBN)

Donald Trump Is Testifying In A Lawsuit Against His Company
(DBN)

___________

Tax:

READ: The Inspector General report on the IRS targeting conservative groups
(DBN)

Jon Stewart Destroys Obama Over The IRS Scandal
(DBN)

IRS Scandal Widens
(DBN)

How IRS Review of U.S. Nonprofits Erupted Into Scandal
(DBN)

How is the IRS supposed to vet 501(c)(4) groups, anyway?
(DBN)

The IRS report: Insubordination and incompetence, but not much of a conspiracy
(DBN)

Report: IRS Scandal was Almost Inevitable
(DBN)

Obama: The IRS Report's Findings Are 'Intolerable And Inexcusable'
(DBN)

7 Questions That The IRS Inappropriately Asked Of Tea Party Groups
(DBN)

Bipartisan Outrage Over IRS Targeting
(DBN)

Bob Kerrey: IRS advocate Nina Olson to blame for scandal
(DBN)

Attorney General Eric Holder Has Ordered A Criminal Investigation Into IRS Scandal
(DBN)

Does Claiming 501(c)(4) Status Now Put You Above The Law?
(DBN)

Toobin: Everyone Is Ignoring 'The Real Scandal' Involving The IRS And Politics
(DBN)

“Auditing” an EDNY Decision with a Plethora of Tax Issues (Part Three)
(DBN)

____________

Student Debt:

Here's Where People Are Falling Behind On Their Student Loans
(DBN)

Forgiving College Loans Won't Help Students
(DBN)

Student Loan Debt Horror Stories, Revealed
(DBN)

The Big Profits Behind Student Loan Interest Rates
(DBN)

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Municipalities:

Orlando: Most Financially Distressed in US
(DBN)

Detroit at 91 Cents on Dollar Not Distressed Enough
(DBN)

Detroit: At Least as Bad as Expected
(DBN)

Dave Bing Will Not Seek Another Term as Detroit Mayor
(DBN)

The Last Days of Detroit
(DBN)

Barrow Predicts EM To Move Quickly To Privatize And Regionalize Detroit Government Services
(DBN)

Bankrupt Alabama county says has deal on $105 mln of bonds
(DBN)

California cities to remain 'fiscally challenged'-Moody's
(DBN)

Cuomo Proposes N.Y. Panel as Step Before Financial Control Board
(DBN)

Cuomo outlines plans for financial restructuring board for distressed local governments
(DBN)

____________

Ethanol:

Bankrupt Oregon ethanol plant now stores ND crude
(DBN)

____________

Credit Counseling:

Consumer protection agency targets debt-settlement service providers
(DBN)

____________

New Bankruptcy Opinions
(1 new opinion today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (22 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (9 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:

Fitch: Number of Fallen Angels Ticking Up For U.S. Corporates
(DBN)

Interactive Bankruptcy Statistics Map
(DBN)

______________

Bankruptcy Reform:

FDIC Wind-Down Plan Has Promise, But So Does Bankruptcy Reform: Paper
(DBN)

Bankruptcy Reform Panel 5/15 NYC Hearing Witness Statements: Daniel Ehrmann - Christopher Kiplok - Edward Murray - Jane Vris - David Skeel
(DBN)

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Discharge:

Supreme Court Sets Defalcation Bar at Gross Recklessness under Section 523(a)(4)
(DBN)

____________

Recent Pleadings:

A123 Creditors and Johnson Controls Reach Compromise On Failed Stalking Horse Bid n- No Break-Up Fee
(DBN)

______________

Corporate Governance:

On the Horns of a Dilemma: A New York State Trial Court Concludes that Springing Recourse Guaranty Executed by Director Creates Conflict of Interest and Potential Fiduciary Duty Liability
(DBN)

____________

Litigation:

6 Things In-House Counsel Must Know About E-Discovery
(DBN)

Study Pins Higher U.S. Liability Costs On Lawyers, Court System
(DBN)

____________

Amusement Parks:

How The 1% Do Disneyland
(DBN)

____________

Military:

On Victory Drive, Soldiers Defeated by Debt
(DBN)

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Photography:

Kodak execs try to squash suit over pension collapse
(DBN)

____________

Fraud:

US Charges 89 with $223M in Medicare Fraud
(DBN)

____________

Rating Agencies:

Duo of senators plead with SEC to take action on credit raters
(DBN)

____________

Lehman:

Actually Lehman’s Bankruptcy Worked Out Well For A Lot Of People
(DBN)

____________

Hollywood:

New David Bergstein Lawsuit References Secret Recordings, Sidney Lumet and the FBI
(DBN)

____________

UK:

Money Makes the World (and U.K. Lawyers) Go ’Round
(DBN)

King Declares UK Recovery in Sight as Growth Outlook Raised
(DBN)

Bank Bailout Blues Stall U.K. Recovery
(DBN)

Banks must be allowed to fail
(DBN)

Creditors set for hit after Clive Ranger administration
(DBN)

(Growth) In Worker Pay In The UK
(DBN)

____________

EU:

Coming soon: Europe's biggest economy will be UK
(DBN)

EU to Shift Bill for Bank Failures to Creditors
(DBN)

Germany backs depositor preference in bank bail-in plans
(DBN)

IMF & European institutional investors claim that high-return opportunities in distressed debt investing remain untapped
(DBN)

Faith in European economy takes hit as crisis drags on, study finds
(DBN)

The Eurozone Enters Its Longest Ever Slump
(DBN)

Bank documents portray Cyprus as Russia's favorite haven
(DBN)

____________

PIIGS:

Fitch Upgrades Greece's Credit Rating --- Court rules Finland must reveal collateral agreement with Greece
(DBN)

ie: Insolvency service to pursue strategic defaulters, says chief
(DBN)

____________

Austria:

Austria Predicts It Will Avoid $21 Billion Hypo Alpe Insolvency
(DBN)

____________

Argentina:

Argentines Hold More Than $50 Billion in U.S. Currency
(DBN)

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