The Daily Docket: Law-Firm Loans Show Cracks

In the race to open offices throughout the globe and lure rainmakers to their ranks, some law firms willingly took on debt they expected to have no trouble paying—a once-safe bet that is now backfiring. Read the Daily Bankruptcy Review article via The Wall Street Journal.

The former flight attendant in charge of negotiating with the union representing more than 16,000 American Airlines flight attendants said Friday that a consensual agreement is still what parent AMR Corp. is looking for with its unions. Click here for the DBR article.

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Law firm Greenberg Traurig LLP ended talks on a possible deal with the struggling Dewey & LeBoeuf LLP, WSJ reports.

According to WSJ, hedge-fund manager Phillip Falcone said he’d step aside eventually as LightSquared Inc.’s public face.

A consensus is emerging on derivatives in bankruptcy, DealBook reports.

Experts are saying the Chapter 11 bankruptcy case of the Northern Mariana Islands Retirement Fund may have implications for other public pensions, Pensions & Investments reports.

According to WSJ, three pension funds are facing difficulties recovering investments in the Fletcher Asset Management fund, something that’s been highlighted by a judge’s ruling.

An opinion piece in Reuters discusses the legal feud between New York hedge funds and Argentina over bonds the country defaulted on almost 10 years ago.

The Philadelphia Orchestra is gearing up for its post-bankruptcy future, WSJ reports.

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