Weekly News Roundup on Bankruptcy-Related Topics for the Week Ended 12/2/05

Below are some notable news posts for the week ended 12/2/05 on the following topical bankruptcy issues of interest to the bankruptcy litigator and practitioner:

Calpine News

Delphi's Bankruptcy

Delta Bankruptcy

Subprime Mortgages

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Calpine News

The W$J reports here on management changes at Calpine.

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Delta Bankruptcy

AirWise News provides this report on statements by Judge Beatty at the November 28 hearing on Delta's motion to reject its contract with the pilots' union, quoting Judge Beatty as saying: "One can talk about union busting and that is precisely what this kind of motion has the taint of..." The article also reports on a "testy exchange" between Judge Beatty and Delta's lawyer, Jack Gallagher, in which she said, "Frankly, I think you have a bias here. It's a personal bias against the pilots."

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Fortune magazine's 12/12/05 issue contains an article entitled "Delta's Chapter 11 Dogfight" (available here on We$tlaw)

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Subprime Mortgages

The W$J provides this article entitled "Consumers May Be Starting to Bend, Judging by Those Subprime Mortgages" on rising delinquencies in the subprime mortgage world. The article states:

The 2005 data through September reveal that these mortgages are faring worse than in comparable periods in each of the three previous years. This year, 6.23% of the loans are delinquent, on average, in their first nine months, a rate not surpassed until the 20th month for 2004 mortgages. By September 2004, that year's mortgages had a delinquency rate of only 3.72%.

© Steve Jakubowski 2005

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