Weekly Blog Roundup on Bankruptcy-Related Topics for the Week Ended 11/18/05 - Part 2

Below is our second installment of notable blog posts on topical bankruptcy issues of interest to the bankruptcy litigator and practitioner for the week ending 11/18/05. Enjoy the weekend!

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SCOTUSblog notes that the oral argument for Central Va. Community College v. Katz is now available. More on this later.

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Professor Ribstein and Professor Bainbridge provide roundups and commentaries on the Zone of Insolvency Conference at the University of Maryland School of Law.

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Delaware Litigation reports on Conglomerate's post of a "link to Matt Bodie who wrote about a new short article by Jon Macey in the Hofstra Law Review concerning the Chancery Court's August 2005 Disney decision and the role of Delaware in corporate law in the U.S."

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Houston's Clear Thinkers follows up on last week's posts on GM's Enronesque experience.

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Securities Litigation Watch points to a "must read article by Andrew Longstreth of the American Lawyer about the personalities, strategies, and turning points that led up to the $6+ billion settlement in the WorldCom securities class action."

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Reality for Dummies posts this blistering commentary from Bloomberg on Delphi's Gold-Plated Management Incentive Plan, and the SASMF's stale rhetoric in presenting management's case.

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Econobrowser notes here that it was "[t]he worst October for U.S. auto sales in the last 13 years... with SUV's down over 50%. Sales of all vehicles combined were down 25% for GM and Ford. There was a time when a 25% drop in car sales would be an indication that a recession is underway. But the clear consensus is that this won't slow the Fed down a bit as it continues to ratchet interest rates up. The theory seems to be that autos don't matter as much for the U.S. economy as they used to." The concluding comment: "I think we'll get a chance to test that theory."

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A post in Free Republic reprints an AP news story reporting that:

The Roman Catholic Archdiocese of Portland said in a bankruptcy reorganization plan it released Wednesday that paying $42 million to settle more than 100 pending sex abuse claims would be "fair and just."

But attorneys and activists representing alleged sex abuse victims slammed the proposed reorganization plan, saying the $42 million limit is too little and that the church is trying to cover up sex abuse cases by keeping them out of court.

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At the Mopar Performance Forums Blog, one will find a post from Detroit News that Delphi's Steve Miller, who agreed to reduce his $1.5 million base salary to $1 per year, effective Jan. 1. through the bankruptcy's conclusion, "was taking a page from the playbook of Iacocca, his boss at Chrysler [who] cut his pay to $1 in 1979 when the company was on the brink of bankruptcy." The play didn't seem to fake out UAW President Ron Gettelfinger, who noted that Miller received a $3 million signing bonus when he was hired by Delphi this summer.

Steven Jakubowski

Written By:Barb Nevin On November 22, 2005 08:47 PM

Thanks for printing the news about our case. Barb Nevin of Milavetz Gallop and Milavetz P.A.

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