May 29, 2015

The Daily Bankruptcy News

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Law:

Ex-Partner Says Dewey & LeBoeuf Got Stuck in Debt Cycle - Former partner testified the law firm began borrowing from the next year to pay debts from the prior one
(DBN)

Shark Tank: Bankruptcy lawyer wins region's second annual entrepreneur pitch competition with court app
(DBN)

The 2015 ATL Top 50 Law School Rankings: Now With More Debt
(DBN)

Clients Do Not Pay You For Your Time
(DBN)

The Dream Client List
(DBN)

Shearman raises NQ pay to £88k
(DBN)

Big Law Eyeing Marijuana
(DBN)

Prominent Young Partners Leave Biglaw For A High-Powered Boutique
(DBN)

Woman pleads guilty in hotel stabbing death of DLA Piper lawyer
(DBN)

Law is the nation’s least-diverse profession, law prof says Big Law Gender Parity on Track for 2181
(DBN)

Street band playing outside DC office windows is not sweet music to ears of Skadden lawyers
(DBN)

Former Drinker Biddle staff attorney is suspended for overbilling the firm for his work
(DBN)

2nd Circuit to hear contract lawyer’s appeal on overtime pay
(DBN)

Firm promises hellish working life in ill-advised advert
(DBN)

Law Boutiques Rise with Help from Tech Vendors
(DBN)

GC Seeks Three-Ways
(DBN)

Thief leaves million-dollar lottery ticket
(DBN)

Ex-Speaker Hastert indicted on federal charges Indicted for lying about hush money payments to blackmailer What Was Hastert's Past Misconduct?
(DBN)

Law Dean Calls Other Law Dean A ‘P----,’ P----- Alumni Lose Their Minds
(DBN)

The Best Law School Funnies And Fails Of 2014
(DBN)

Law School Ditches Federal Loan Program, Forces Students To Take Out Private Loans
(DBN)

After flooding sends a river through its historic law offices, Houston PI firm cleans up
(DBN)

Feds say indicted lawyer owes $780K to IRS, hid tobacco settlement money in others’ accounts
(DBN)

Dustin Diamond’s lawyer gets a judicial scolding on ‘shenanigans’ for car’s message
(DBN)

Woman gets time served in beach s-- case; state seeks 2.5 years for man
(DBN)

Disbarment sought for lawyer in scheme that provided phony certificates of completion to court
(DBN)

The Novel ‘Personal Jurisdiction’ Updates The Law School Story For The 21st Century
(DBN)

Dodgy Lawyer of the Week: Tried to fob off judge by pulling sickie
(DBN)

Bonkers website of the week: lawyer with a made-up twin
(DBN)

Pro Se Plaintiff Reveals Startling Truth About George W. Bush
(DBN)

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Judges:

BK NJ: Tentative Selection of Stacey L. Meisel For Bankruptcy Judge
(DBN)

Philip Alito, Son Of Justice Alito: Where Is He Now?
(DBN)

Justices Ruling in Favor of Companies Whose Stock They Own Friend-of-Court Briefs Raise Recusal Questions for Justices
(DBN)

An Inspector General for the federal judiciary?
(DBN)

Judge Catches DA's Office, Police Misconduct in Death Penalty Case
(DBN)

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Wall Street:

U.S. Stock Futures Struggle Stock futures drop in skittish wait for GDP
(DBN)

U.S. stocks on pace for weekly drop
(DBN)

The most shorted Nasdaq stocks
(DBN)

What Will Happen to a Generation of Wall Street Traders Who Have Never Seen a Rate Hike? - Bloomberg Business

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Layoffs:

Layoffs now rare, jobless claims data suggest
(DBN)

J.P. Morgan Chase expected to lay off 5,000
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

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Gambling:

Huge changes, challenges about to hit NJ casino market
(DBN)

Casino conundrum: Too many bets
(DBN)

Teachable Moments In The Caesars Mess: A Strategy For A Post-Bankruptcy Move On The Stock
(DBN)

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Autos:

GM recall lawsuits on hold pending a related appeal
(DBN)

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Defaults:

Fitch: U.S. Leveraged Loan Default Rate at New Low
(DBN)

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Weather:

What drought? Why California water is so cheap
(DBN)

Cali Drought's New Crooks: Water Thieves
(DBN)

More Texas towns brace for high water; Death toll climbs The insane amount of rain in Texas The Good News is That the Drought is Over
(DBN)

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Bankruptcy Crimes:

Former owner of Hendersonville company facing federal charges
(DBN)

Jury finds Utah man failed to pay taxes, conspired with Lehigh County doctor
(DBN)

Former Owner of Gallup-Based Oil Distributor Sentenced to Prison for Federal Bankruptcy Fraud Conviction
(DBN)

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Aviation:

Skymark Airlines Said to Submit Restructuring Plan on Friday Japan's Skymark submits bankruptcy plan despite creditor opposition Skymark Airlines to Get $145 Million Capital Under Recovery Plan
(DBN)

Air Lituanica to seek bankruptcy
(DBN)

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Religion:

Why are some churches going bankrupt ?
(DBN)

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Toll Roads:

Australian Company Finalizes Takeover Of Indiana Toll Road
(DBN)

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Shipping:

Schemes of Arrangement for Distressed Shipping Companies – a viable (and cheaper) alternative to chapter 11?
(DBN)

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Politics:

George Pataki: Is he Chris Christie without the baggage?
(DBN)

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Satellites:

NewSat Bankruptcy is Costly for U.S. Ex-Im Bank
(DBN)

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Fraud:

Madoff accountant sentenced to home detention
(DBN)

How a fraudster used southern charm to access $40M
(DBN)

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Mass Torts:

Los Angeles Superior Court Addresses Improper Withholding Of Asbestos Trust Fund Claim Information, Imposes Mandatory Disclosure, And Rejects Privilege Claims
(DBN)

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Ethanol:

US Spends $100M for More Ethanol in Markets
(DBN)

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Economy:

US economy likely shrank in first quarter, but fundamentals strong
(DBN)

US jobless claims up, but still point to labor market strength
(DBN)

Good news for America's workers: You matter again
(DBN)

47% don't have $400 to cover an emergency expense
(DBN)

Many are still worse off now than before the recession
(DBN)

Americans lead two separate lives: one pays the bills, the other is fulfilling
(DBN)

Paul Singer: This is the new 'big short'
(DBN)

A full-time minimum-wage job won't get you a 1-bedroom apartment anywhere in America
(DBN)

The Dramatic Rise of Life Expectancy Around the World
(DBN)

US Debt Clock
(DBN

Economic Indicators Dashboard
(DBN)

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Real Estate:

US pending home sales race to nine-year high in April What pending sales tell us about housing
(DBN)

Mortgage Rates in the U.S. Increase to Highest for 2015
(DBN)

Freddie Mac: Mortgage Serious Delinquency rate declined in April
(DBN)

House flippers cleaning up
(DBN)

Why ‘Generation Rent’ is reluctant to buy houses
(DBN)

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Municipalities:

Detroit bankruptcy judge 'deeply concerned' over pension debt in other Michigan municipalities
(DBN)

How to avoid municipal bankruptcy: 3 tips offered by judge who oversaw Detroit restructuring
(DBN)

Bankruptcy Judge to Detroit Citizens: Stay on It
(DBN)

Unions were the courageous ones in Detroit bankruptcy, says Ford Foundation CEO
(DBN)

How one man in Detroit is trying to resurrect the city’s abandoned homes
(DBN)

Complacency is enemy in post- bankruptcy Detroit
(DBN)

Macomb County executive criticizes 'celebration' of Detroit bankruptcy settlement
(DBN)

Detroit deemed America's 'comeback story'
(DBN)

Detroit Shuts Off Water For 1,000 Poor Residents Despite City Council’s Call To Stop Waiting on the Water Deal
(DBN)

Atlantic City Sues Over Failed Community Loan Program
(DBN)

Atlantic City prices second bond deal in two weeks
(DBN)

Stockton, Calif., argues against appeal of its bankruptcy plan
(DBN)

Switzerland of Ohio School District Headed Toward Bankruptcy
(DBN)

Puerto Rico Gets $3.5 Billion Plan to Fix Teetering Utility
(DBN)

The Downgrading Of The Chicago Municipal Bond Market To Junk
(DBN)

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Retailing:

Abercrombie & Fitch surges, but don't call it a miracle at the mall yet
(DBN)

Costco Tumbles On Mixed Q3; Analysts Split Don’t write off Costco, here’s why
(DBN)

SkyMall Is Coming Back This Year, But Expect Some 'Dramatic Changes'
(DBN)

Top auction bidder for Family Christian Stores will keep stores open Parent of Family Christian Stores sold to nonprofit subsidiary
(DBN)

Sears Holdings Valuation: The Transformation
(DBN)

The most popular stores in America
(DBN)

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Oil/Gas:

Fri. A.M.: Oil gains 1 percent on US inventory drop
(DBN)

Thurs. A.M.: Oil higher as US production rises, inventories fall
(DBN)

Crude oil inventories fall again, but production jumps
(DBN)

U.S. oil is back in the money, but OPEC is not
(DBN)

An Oil Deficit is Coming by Year's End
(DBN)

Dozens of Canada's tar sands projects on hold as prices fall, analysis shows
(DBN)

Edmond seismic company declares bankruptcy .
(DBN)

____________

Soccer:

FIFA's huge corruption and bribery scandal, explained FIFA's Blatter: I can't watch everyone all the time Blatter defies calls to quit as FIFA scandal widens Wall Street banks drawn into FIFA bribery probe Jon Stewart has some questions about the FIFA investigation The surprising reason the US is prosecuting the FIFA case Soccer, International Criminal Law, and Thucydides The human toll of FIFA’s corruption How a wedding singer became the most powerful player in football
(DBN)

Final Parma auction fails
(DBN)

____________

Lehman:

Dick Fuld's Murky Secrets: Life After Lehman Brothers Fallen ex-Lehman CEO Dick Fuld hits comeback trail
(DBN)

What Dick Fuld didn't say ...
(DBN)

Richard Fuld Still Doesn’t Think Lehman Was Really Bankrupt Ex-Lehman CEO Fuld says ‘perfect storm’ caused crisis
(DBN)

Ex-Lehman CEO Fuld Says 27,000 Employees Were Risk Managers
(DBN)

Fuld breaks his silence Lehman's Fuld: No one thing caused the crisis
(DBN)

Fuld blames government in rare appearance Lehman Brothers ex-CEO blames everyone else for financial crisis
(DBN)

Ex-Lehman CEO: 'Why don't you bite me?'
(DBN)

Ex-Lehman CEO Dick Fuld: At least my mom still loves me
(DBN)

Lehman’s Fuld Speaks Out for Little Guy at Penny-Stock Venue
(DBN)

____________

Coal:

CanAm's Alabama Subsidiaries File Voluntary Petition under Chapter 11
(DBN)

Bad news bombards coal
(DBN)

Southern Co. Subsidiary Faces Possible Credit Downgrade
(DBN)

____________

Apparel:

Frederick's of Hollywood Cancels Auction, Likely to Sell Brand to Authentic - No qualified bidders challenged Authentic's $22.5 million offer for underwear seller's brand
(DBN)

____________

Healthcare:

UMC shares its legal strategy on Children's bankruptcy case with commissioners What does Children's Hospital want?
(DBN)

Bankruptcy documents: El Paso Children's Hospital plans to spend $1.4 million in restructuring
(DBN)

Two community leaders interested in Children's Hospital board
(DBN)

Shuttered King County drug treatment center files for bankruptcy after federal probe
(DBN)

____________

Celebs:

David Cassidy Pleads With Judge Over Money Troubles
(DBN)

50 Cent can't dodge s**-tape trial with bankruptcy filing, judge rules
(DBN)

Toni’s bankruptcy costs Atlantic Records big bucks
(DBN)

____________

Cemeteries:

Homestead Cemetery Running Out Of Money, May Have To File For Bankruptcy
(DBN)

____________

Student Debt:

A Test Case for Burned Student Borrowers
(DBN)

____________

Corporate Reform:

This is how banks can get real about ethics
(DBN)

SEC's Stein Takes Aim at Deutsche Bank
(DBN)

DoJ Reaches Deal with 4 More Swiss Banks
(DBN)

____________

Movies:

Hollywood just had its worst Memorial Day weekend in 17 years
(DBN)

____________

Taxis:

Taxis Promise to Hunt Uber Drivers
(DBN)

Should Uber be Banned?
(DBN)

Uber Isn't the Problem
(DBN)

____________

 


New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (19 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (173 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)

______________

Professional Compensation:

Can Attorneys Get Paid for Defending Their Right to Get Paid?
(DBN)

Slim odds for clawback of attorneys' fees in Nortel bankruptcy
(DBN)

____________

Bankruptcy Policy:

Financial Distress, Stock Returns, and the 1978 Bankruptcy Reform Act
(DBN)

____________

Jurisdiction:

Stern v. Marshall and the Case for Article III Bankruptcy Judges
(DBN)

"Wellness" Has Made Us Better
(DBN)

Supreme Court Decides to Maintain the Viability of the U.S. Bankruptcy Courts, But a Key Question Remains Unresolved
(DBN)

Supreme Court Clarifies Scope of Bankruptcy Courts' Jurisdiction
(DBN)

All's Wellness That Ends Well?: Supreme Court Permits Parties To Consent To Bankruptcy Court's Entry Of Final Judgment On Stern Claims
(DBN)

U.S. Supreme Court Holds Implied Consent Sufficient for Bankruptcy Court Jurisdiction
(DBN)

“The World Will Not End In Fire, Or Ice, But In A Bankruptcy Court”
(DBN)

____________

IP:

The First Circuit May 'Actually' Be The Best Choice Of Bankruptcy Venue For IP Licensees
(DBN)

____________

Cross-Border:

New Focus on Cross-Border Restructuring of Groups for the Recast EC Regulation on Insolvency Proceedings
(DBN)

Lessons From Nortel: What Do The Recent Allocation Decisions Mean?
(DBN)

____________

Proofs of Claim:

Seventh Circuit Says Secured Creditors Must File Proof of Claim Within Ninety Days of Meeting of Creditors
(DBN)

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Post-Confirmation:

New beginnings: life as a Chapter 11 emerged entity
(DBN)

____________

Plan Confirmation:

The United States District Court for the Southern District of New York Upholds Rulings With Respect to Subordination, Cramdown and the Make-Whole Dispute
(DBN)

What the Future Holds for Make-Whole Claims in Bankruptcy: Examining the Energy Future Holdings EFIH First Lien Make-Whole Decision – Part 2
(DBN)

____________

Bankruptcy Reform:

ABI Report Suggests Limitations on Rollups in DIPs
(DBN)

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Structured Dismissals:

Third Circuit Provides Road Map for Structured Dismissals
(DBN)

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Insurance:

Political Risk Policy Does Not Cover Bankruptcy-Related Losses
(DBN)

____________

Food/Beverage:

Hostess died 3 years ago... now it's worth $2B
(DBN)

Langermann's files for bankruptcy after Baltimore riots put its finances over the edge
(DBN)

____________

Education:

FTC: Georgia-based for-profit school did not tell the truth
(DBN)

Taxpayers will shoulder the financial burden of defunct schools’ students
(DBN)

____________

Sovereigns:

Paul Singer, Another Hedge Fund Billionaire Who's More Lucky Than Smart
(DBN)

____________

UK:

PWC did not see insolvency risk – financial regulator
(DBN)

____________

EU:

Europe stocks drop as Greek drama plays out
(DBN)

EU asks 11 member states to implement Bank Recovery and Resolution Directive
(DBN)

____________

PIIGS:

Greek talks 'progressing'…so where's the deal? Only Greece Can End Its 'Groundhog Day' Misery Grexit could happen, says IMF’s Lagarde
(DBN)

Greek bank deposits fall to lowest level in a decade - ECB data Greek capital flight hits record as 'ultimatum' talk grows
(DBN)

No interim funding for Greece: ECB official IMF head says Greek exit a possibility-newspaper ECB officials say no to easier funds for Greece now ECB: Concerns For Greek Bankruptcy Are Increasing IMF says Greece did not ask to move repayments to end-June Greece's 1-2-3 Plan For Default And Amazing Recovery Greek PM holds teleconference with German, French leaders
(DBN)

Greece promises imminent deal, only to be knocked down by by creditors — again Greece says high-level political trade-off still needed to stave off bankruptcy IMF's Lagarde says still much work to do in Greek debt talks Greece, facing euro zone exit fears, designs new two-euro coin Moody?s says Greek exit would change nature of euro Less than one-in-three chance of Greece leaving eurozone this year Market calm on Grexit an eerie recall of pre-Lehman bets Will the Greek time bomb ever go off? When should we really start worrying about Greece
(DBN)

ECB Says Long Greek Talks May Hurt Other Eurozone Borrowers
(DBN)

ie: Gayle Killilea accused of ‘forum shopping’ in US courts
(DBN)

Spain’s protest vote a sign of a fracturing eurozone
(DBN)

As Greece leads the news, Italy’s problems mount
(DBN)

____________

Canada:

Captain John's ship towed from Toronto harbour
(DBN)

Teck to temporarily shut down production at Canadian operations
(DBN)

___________

Belgium:

Bankruptcy statistics in Belgium: April 2015
(DBN)

____________

Australia:

Bleak House, eat your heart out. Hancock v Rinehart – that's real drama
(DBN)

____________

Brazil:

Brazil’s Cash Trap Exposed in 10-Hour Screamfest From President
(DBN)

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Thailand:

NLA passes bankruptcy law in final reading
(DBN)

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Africa:

Africa Bank's junior creditors to get some money back under restructuring plan
(DBN)

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Argentina:

Gov't makes US$683 million payment to Paris Club creditors
(DBN)

____________

Ukraine:

NBU announces Ukrainian Professional Bank is insolvent
(DBN)

____________

MENA:

ISIS Executes 20 in Ancient Amphitheater
(DBN)

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