April 7, 2016

The Daily Bankruptcy News

View prior editions: Click Here
View prior case summaries: Click Here
Search prior headlines: Click Here
Search prior case summaries: Click Here

3-Column Formating

 

Law:

Lawyer Employment Growth Slowed in 2015, Incomes Flat
(DBN)

Latest Lateral Mystery Stars Bracewell Restructuring Partner, White & Case
(DBN)

The law firm at the center of the Panama Papers scandal says it was hacked Partner: Massive data breach at ‘Panama Papers’ law firm was from hack attack, not internal leak Co-Founder of Mossack Fonseca Defends Law Firm
(DBN)

Fox Rothschild is sanctioned $25K for alterations in discovery documents
(DBN)

Anatomy Of A Deal: The Backstory Behind Scott Barshay’s Move From Cravath To Paul Weiss
(DBN)

Lawyers & Regret - The Grand Delusions
(DBN)

Law Firms Increasingly Use 'Moneyball' Analytics In Lateral Partner Hiring
(DBN)

George Mason University learned how hard it is to name a law school after Antonin Scalia #A--Law At George Mason Attempts Re-Brand, Will Fail
(DBN)

Expedient Approach To Bankruptcy Sanction Draws 60-Day Suspension
(DBN)

Baker Botts Defeats $40M Suit Premised on Alleged Conflict
(DBN)

The Two Barshays — A Big Law Dynasty?
(DBN)

Prominent Partner Exits Munger Tolles — The Wachtell of the West?
(DBN)

This Big Law Firm Just Appointed a “Chief Client Ambassador”
(DBN)

Technology-Assisted Investigation: Expert Techniques for Fact-Finding
(DBN)

Big Firms Facing Tougher Search for Merger Prospects
(DBN)

Law Firm Merger and Lateral Activity Starts 2016 With a Bang
(DBN)

Law Firms Can Bill Out Unpaid Labor Because Why Not Make Money For Nothing?
(DBN)

High-risk behaviors on the up among lawyers
(DBN)

Slater & Gordon reveals UK restructure plan
(DBN)

Cloudier skies ahead for mid-tier firms
(DBN)

The Plight Of The Long-Term Unemployed Lawyer
(DBN)

The View From Up North: The Accountants Are Messing With The Lawyers Again
(DBN)

A private school background is no longer a golden ticket to a law career
(DBN)

How BoA Accurately Forecasted Its Legal Budget
(DBN)

Ex-Bankruptcy Lawyer Howard Tullman to Address Northwestern Law Grads
(DBN)

These are the only 3 shoes a guy needs in his closet
(DBN)

Why Bullies Make Bad Leaders
(DBN)

Washington workers may be banned from travel to anti-LGBT states Mississippi passes sweeping religious freedom law Tennessee is poised to make the Bible its official state book
(DBN)

Lawyer is suspended for using email information obtained by client by guessing password
(DBN)

Oregon Standoff Case: Judge Sets Trial Date
(DBN)

Dear Abby Agrees: Law Firm Love Affairs Are A Terrible Idea
(DBN)

______________

Judges:

Grassley takes aim at Supreme Court's chief justice
(DBN)

Garland and Roberts mostly agreed while on the DC Circuit together
(DBN)

Obama’s Nuclear Option for the Supreme Court: Order the Senate Back to Work
(DBN)

Federal Judge: If I Could Put Time In A Bottle
(DBN)

What if the Supreme Court Were Liberal?
(DBN)

US court upholds prosecutors' role in deferred prosecution deals DoJ Power to Cut Deals With Corporate Lawbreakers Without Judicial Interference Affirmed
(DBN)

This Is How The Supreme Court Expands Its Power
(DBN)

Leader of Georgia’s judicial ethics agency quits, says he won’t participate in ‘charade’
(DBN)

Administrative judge is charged with assaulting colleague
(DBN)

UK: Judge Disturbed By Noise From Holding Cell Beneath Courtroom "Sorts It Out Himself" - In Full Wig and Robes
(DBN)

______________

Wall Street:

U.S. stocks set to pause
(DBN)

US stocks rise as health care and energy companies climb
(DBN)

Traders see ‘extraordinarily low’ chance of further gains
(DBN)

Wall Street's dealmakers are getting walloped
(DBN)

Wall Street stumbles amid increasing signs of financial strain
(DBN)

Mega deals morph into mega problems for Wall Street
(DBN)

______________

Layoffs:

Fiat Chrysler to cut 1,300 jobs at Michigan plant
(DBN)

U.S. Steel cuts salaried workforce by 25 percent - 750 jobs
(DBN)

Nokia Said to Cut as Much as 14% of Workforce - 15,000 jobs
(DBN)

L Brands plans 200 layoffs
(DBN)

University of Phoenix lays off 470, most in Arizona
(DBN)

Oil field support company announces North Slope layoffs
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

______________

Celebs:

This NFL training camp turns football players into financial stars Meet the awesome NFL mom determined to stop her son’s finances from being sacked
(DBN)

Kim Kardashian & Kanye West On Verge Of Divorce & Bankruptcy
(DBN)

50 Cent ordered by judge to start acting broke “Stunt 101”: Bankruptcy Judge Blasts 50 Cent, Says No More Instagram Stunts Judge scolds 50 Cent: If you’re broke, stop posting pics of cash Judge slaps 50 Cent on the hand for photo he took in bankruptcy
(DBN)

____________

Tax:

Nevada, a Tax Haven for Only $174
(DBN)

How U.S. Clampdown Hits Companies That 'Earnings Strip'
(DBN)

____________

Pensions:

Losses under Goldman, Northern Trust accelerated Teamsters cuts
(DBN)

Buyer Beware: District Court Imposes Pension Liability on Private Equity Funds
(DBN)

____________

Autos:

U.S. dealerships owner sues VW over diesel emissions scandal
(DBN)

Port Talbot: lessons from the General Motors bankruptcy
(DBN)

____________

Alternative Energy:

Plunge of solar stocks takes down yieldcos but brings in contrarians
(DBN)

Will Solar Prices Go the Way of Oil?
(DBN)

CleanFUEL USA Files for Bankruptcy
(DBN)

____________

Awards:

International Women's Insolvency & Restructuring Confederation Announces 2016 Founders Awards Winners
(DBN)

____________

Coal:

Doomsday Finally Comes to Wyoming's High-Flying Coal Country
(DBN)

____________

Aviation:

Republic Says Unsecured Creditors to See Less Than 50% Recovery
(DBN)

____________

Defaults:

Default Rates of Private Equity Loans Are Creeping Up
(DBN)

____________

Student Debt:

How Much Do Employees Really Want Student Loan Repayment?
(DBN)

___________

Economy:

Fed debated April rate hike but caution reigned due to global fears -minutes Sentiment on Fed running against April rate hike, minutes show FOMC Minutes: Many participants argued "asymmetry made it prudent to wait for additional information" Fed Sends Signal That April Rate Hike Is Unlikely
(DBN)

Investors bet again on the return of inflation
(DBN)

Dimon: The US Has Serious Issues
(DBN)

4 Things JP Morgan Warning On
(DBN)

Low-Key Lew Becomes Sledgehammer With $160 Billion Deal Breakup
(DBN)

China unloads overcapacity on the world
(DBN)

The Coming Default Wave Is Shaping Up to Be Among Most Painful
(DBN)

‘An Odd Time’ as Many Government Bonds Trade Below Zero Yields
(DBN)

Why religious leaders are getting behind $15 minimum wage
(DBN)

Yields could creep even lower on 'toxic cocktail'
(DBN)

Big Rig Truck Orders Fall 37%
(DBN)

There's a $2 Trillion GDP Boost in Shrinking the U.S. Gender Gap
(DBN)

Morgan Stanley Analyst Fears the Movie The Big Short Has Discouraged Investors From Buying Risky Auto Loans
(DBN)

US Debt Clock
(DBN

World Debt Clock
(DBN)

Economic Indicators Dashboard
(DBN)

______________

Real Estate:

In The Mortgage Settlements, How Much Money Went to Consumers?
(DBN)

Apollo's Push Into a Lending Business That Others Call Predatory
(DBN)

First-time buyers are skipping the starter home and saving for the big house in the suburbs
(DBN)

A Massachusetts state legislator has a big idea to ease the urban rent crisis
(DBN)

Nobody Told Us??
(DBN)

Las Vegas Real Estate in March: Sales Increased 4% YoY, Inventory Declines
(DBN)

NY: Landlord files for bankruptcy amid legal fight over W’burg building
(DBN)

____________

Municipalities:

Puerto Rico passes debt moratorium bill The Commonwealth Plays Hardball Puerto Rico Governor signs debt moratorium law, upends debt restructuring Puerto Rico Invites Chaos as Debt Moratorium Upends Progress
(DBN)

Puerto Rico Electric Creditors Say Moratorium Jeopardizes Deal
(DBN)

Puerto Rico needs compromise, not a cram-down
(DBN)

Puerto Rico investors push competing legislative agendas
(DBN)

Puerto Rico's Benchmark Bonds Plunge to Record-Low Price: Chart
(DBN)

Puerto Rico struggles on with 'unpayable' $70B debt
(DBN)

Puerto Rican ‘Rescue’ Plan Would Set Dangerous Precedent
(DBN)

Christie Says State to Sue to Force Atlantic City School Payment
(DBN)

Christie Says He Wouldn’t Make Atlantic City’s Debt Payments
(DBN)

Atlantic City on the brink as feud between Christie and mayor boils over
(DBN)

Defying Christie, NJ speaker unveils own Atlantic City plan
(DBN)

Christie calls on Assembly speaker to post Atlantic City takeover bill
(DBN)

A.C. Council approves plan that keeps City Hall open
(DBN)

Christie comes to Atlantic City, calls mayor a 'liar'
(DBN)

Why New Jersey Is in Trouble if One Man Moves to Florida Billionaire to save hundreds of millions from Florida move
(DBN)

Michigan Gov. Snyder facing class-action lawsuit over Flint water crisis
(DBN)

Harrisburg Issue Marks Return of Agency Behind City Collapse
(DBN)

Wayne County officials drag feet on taking benefit cuts
(DBN)

____________

Oil/Gas:

Oil, Gas and Mineral Companies Take Note: Agreements Purporting to “Run with the Land” may be Rejected in Bankruptcy
(DBN)

Gas Drillers Go Rigless as Price Collapse Heralds Austerity Era
(DBN)

Weds.: Oil Prices Soar After Inventory Data Signs point to deal on oil output: Kuwait OPEC official, sources Oil Edges Up After Biggest Draw In U.S. Crude Stocks This Year
(DBN)

Airline hedges fuel rally in later dated oil prices Airlines Hedge Cheap Oil, Protecting Them Through 2019
(DBN)

Hedge funds exit oil price rally as Saudi plans post- oil economy
(DBN)

Warren Resources names Chief Restructuring Officer
(DBN)

Warren Resources CEO Warns Bankruptcy Could 'Wipe Out' 2nd-Lien Leveraged Loan Claims
(DBN)

Chaparral Energy reaches temporary accord with lenders
(DBN)

Linn Energy Is Playing Hardball
(DBN)

Denver CEO warns energy firm's bankruptcy would completely wipe out some investor claims
(DBN)

Summer may be pivotal for oil: Goldman’s Currie
(DBN)

Is A Permanent Decline Coming For Russia?
(DBN)

Goldman Says Oil At $35 Is 'Goldilocks' Ideal For US Explorers
(DBN)

____________

Fraud:

Recovery On Horizon For Victims Of $68 Million Florida Ponzi Scheme
(DBN)

For Island of 500,000 Companies, Panama Leaks Unleash Storm Panama Chafes at Rap as Soft on Money-Laundering Panama Papers: The Real Scandal Is What's Legal I investigated Mossack Fonseca before the Panama Papers came out Why the New York Times downplayed the Panama Papers UK PM under pressure from revelations The Panama Papers Actually Reflect Pretty Well on Capitalism Panama Data Leak Prompts Raid of Europe Soccer Headquarters Panama David Cameron's father sought legal advice on best tax havens Papers Prompt RBC to Set Up Team to Scour Bank Records US readies rule on shell firms amid 'Panama Papers' Panama Papers: Kubrick to Cowell
(DBN)

Rich Kids on Instagram Are Revealing Their Parents' Shadiness to Investigators
(DBN)

The former CFO of Enron warned a group of execs that large US companies are doing the same things he did
(DBN)

____________

Banking:

PA: Regulator liquidates 6 insolvent local credit unions
(DBN)

This chart signals trouble for big banks
(DBN)

____________

Gambling:

Apollo's Marc Rowan Resigns From Caesars Board
(DBN)

____________

Pharma:

Valeant Said to Win Majority Lender Support for Default Waiver
(DBN)

____________

Mining:

Glencore Selling Assets to Curb $25.9 Billion of Debt
(DBN)

____________

Religion:

Bankrupt archdiocese gets new, higher bid for chancery
(DBN)

____________

Bankruptcy Crimes:

Ex-Chicago Rush owner pleads guilty to federal fraud charges
(DBN)

MS: Terry man charged with bankruptcy fraud
(DBN)

____________

Aviation:

Republic Airways Shareholders Push For Seat at the Table
(DBN)

____________

Debt Collection:

Further debate about debt collection reform and credit availability
(DBN)

____________

Student Debt:

Millions of Students may Never Repay Their Loans
(DBN)

____________

New Bankruptcy Opinions
(2 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (30 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (7 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)
(DBN)

Seminars - (Contact us to list your seminar)

______________

Bankruptcy Statistics:

Bankruptcy – deja vu all over again?
(DBN)

5 Signs a Company Is About to Go Bankrupt
(DBN)

______________

Miscellaneous:

2016 March Madness: Weil Bankruptcy Blog’s Champion Is…
(DBN)

____________

Avoidance Actions:

The Texas Supreme Court Rules in favor of The Golf Channel over the Stanford Ponzi Receiver—Ruling will Likely Limit Future Clawback Suits in Similar Cases
(DBN)

Texas Supreme Court Resolves Fraudulent Transfer Value Defense for Fifth Circuit
(DBN)

____________

LLCs:

Limited Liability Company: How Far Can a Member’s Trustee Reach?
(DBN)

____________

Mediation:

Delta Airline’s Post-Bankruptcy Mediation under the “Railway Labor Act”
(DBN)

____________

Alter Ego:

Back to Basics and the 1990s – Does the Discharge Include Alter Ego Claims?
(DBN)

____________

Insolvency Forum Clauses:

“What Did You Expect? Insolvency Forum Clauses”
(DBN)

____________

Retailing:

Pacific Sunwear Enters Bankruptcy as Changing Tides Erode Sales PacSun Said to Accelerate Bankruptcy Filing After Negotiations Restructuring Agreement with Golden Gate Capital Petition
(DBN)

When Vendors Are Consigned to a Lower Authority
(DBN)

Why A Wave Of Big-Name Retailers Are Filing Chapter 11
(DBN)

Reis: Mall Vacancy Rate unchanged in Q1 2016
(DBN)

How much does Dick’s Sporting Goods benefit when rivals shut stores?
(DBN)

Hancock creditors hoping to recoup what they're owed
(DBN)

____________

Politics:

Donald Trump Settled a Real Estate Lawsuit, and a Criminal Case Was Closed Primary Math Gets Harder for Trump With Wisconsin Loss Who are Donald Trump's female supporters? Trump, We Knew Ye Trump and the Borderers Even some Trump supporters are scared of a Trump presidency Donald Trump, the least popular candidate in years, says presidents need to be popular Trump says party is trying to steal GOP nomination Washington Post Wants Trump University Documents Unsealed Donald Trump commenting on infant daughter's body Poll Shows Donald Trump Above 50% in New York State
(DBN)

Cruz's NY Campaign Stop a Dud
(DBN)

Donald Trump, Hillary Clinton Seek a Home-State Boost in New York Primary Front-Runners Enter Treacherous Terrain With Wisconsin Primary Losses What Ted Cruz's victory in Wisconsin really tells us
(DBN)

After Wisconsin, Sanders is worse off than ever in the delegate race
(DBN)

A Convention Coup Endangers Republican Party In Defense of the Republicans' Nomination Rules
(DBN)

____________

Radio:

Judge postpones ruling on iHeartMedia, sets new trial
(DBN)

IHeartMedia Gets More Time in Fight With Dissident Creditors
(DBN)

IHeartMedia Default Fight Set to Go to Trial
(DBN)

____________

Sovereigns:

Prat-Gay: ‘vulture’ deadline won’t be met Government Won't Be Able To Pay Holdouts On April 14th Argentina will Negotiate Postponing Term to Pay Vulture Funds
(DBN)

Argentina Prepares for Life After Debt Fight
(DBN)

Argentina, creditors agree on $250 million deal to end debt standoff in US Argentina reaches new agreements with holdout creditors
(DBN)

____________

UK:

An Unsecured Creditor, Even with Contractual Rights Against the Secured Creditor, Cannot Enforce Common Law Duties on the Manner of Enforcement Against the Collateral
(DBN)

R3 cautiously welcomes advent of simpler bankruptcy regime
(DBN)

Tata Steel sales process for UK ops set for Monday
(DBN)

`Brexit' Risks Leaving European Banks With $123 Billion to Cover The Real Reason an EU Exit Would Punish the British Economy
(DBN)

____________

EU:

ECB says willing to act as Draghi warns on global uncertainty
(DBN)

Dutch Voters Reject Ukraine Deal in Blow to EU Unity
(DBN)

____________

PIIGS:

Merkel Coalition Readies for Greek Deal as EU Crises Multiply
(DBN)

Troubled Spanish green energy firm seeks NY share delisting
(DBN)

Drumm's US bankruptcy legal team resigns
(DBN)

____________

Canada:

Insolvent Terra Energy's Alberta assets not covered by receivership
(DBN)

RBC head plays down oil price concerns Low Oil Weighs on Royal Bank of Canada’s Energy-Loan Review
(DBN)

____________

India:

Bankruptcy Bill on its way: Finance Minister
(DBN)

India can learn from Asian bank turnarounds
(DBN)

Tycoon Mallya Told to List Wealth as India Creditors Spurn Offer
(DBN)

____________

Iceland:

Following fallout from the Panama Papers, Icelanders want the Pirate Party in power
(DBN)

____________

China:

Fitch rules out China hard landing but warns financial stress is mounting
(DBN)

China Faces a Debt Crisis. Or Does it? China's Debt Threatens Financial Stability
(DBN)

JPM's Dimon: China to hit 'bumps in the road'
(DBN)

Shriveling Yingli Fends Off Bond Holders
(DBN)

____________

Australia:

Arrium Sucked Down as Australian Steel Industry Sinks Debt laden steel and mining group Arrium collapses Australia's Arrium in administration, highlighting pressure on small miners Arrium defiant as it surrenders to creditors What happens next for Arrium, workers? Arrium Names Administrator as $927 Million Rescue Snubbed
(DBN)

____________

MENA:

The UAE's New "Mini-Insolvency Law"
(DBN)

Saudi Arabia Sentences Man To Death For Renouncing Islam and Ripping Up Koran
(DBN)

____________

Turkey:

Turkey Grants Banks Relief on Loans to Troubled Tourism Industry
(DBN)

____________

Germany:

German Pellets Bankruptcy
(DBN)

____________

 

 


The Daily Bankruptcy News is primarily a curated news link gathering service.   Most of the headlines contained in the publication are a collection of links to stories posted on the Internet by various third party publications.  Such content is owned by third party sources, not The Daily Bankruptcy News, and in some cases, these links change or expire, which means you may not be able to view some news stories in prior editions of the Daily Bankruptcy News. The DBN subscription fee is not a fee for access to the content of the links, but is a charge for the considerable work involved in gathering, organizing and presenting the links. Use of this site and The Daily Bankruptcy News is subject to our Terms of Use. If you received The Daily Bankruptcy News via email (and you have a paid subscription account), to view a news story, click on the headline, and the story should open in your web browser. To view additional stories, click back to the email and click on additional headlines, which will cause new stories to open in your web browser.  You can view the Daily Bankruptcy News on the web by clicking here.

Advertising
Advertising is available in The Daily Bankruptcy News. Click here for details  Feel free to contact us with any questions.

Passwords/Subscriptions
Access to certain links in The Daily Bankruptcy News is available only to readers holding a paid service subscription. These links are currently marked with a "DBN" notation. The cost of a subscription is $62/year, payable annually.  Volume discounts are available for sites with multiple users. Click here to see a schedule of discounts. Complimentary subscriptions are available for full-time educational and governmental employees and for full time students. For information about discounts or educational/governmental subscriptions, contact us by clicking here. A separate password is required for each member of a firm wishing access to restricted links.

New readers can receive a free password good for 30 days by clicking here. 30-day passwords are not available to readers who have previously had a password, even if the password was associated with a different email address used by the reader. Refunds are not available after purchase.

Readers who wish to change their passwords should click here. Readers who have forgotten their password should click here.

Adding Your Email Address To The Distribution List
If you would like to start receiving The Daily Bankruptcy News by email each day, click here, and fill in the information requested. There is no charge to be placed on the distribution list to receive the headlines, although access to many of the links behind the headlines requires a paid subscription (see above, under Passwords). If, after adding your email address to the distribution list, you do not receive an email confirming the addition, please contact us by clicking here for help.

Removing Your Email Address From The Distribution List
If you already receive The Daily Bankruptcy News by email and you wish to remove your email address from the distribution list, click here and send the email that should appear. You do not need to type anything in the body of the email message. Note that the email asking for removal must be sent from the same email address which is on our distribution list. If you do not receive an email confirming deletion of your email address from the distribution list, contact us by clicking here for help.

If receive the publication forwarded from an older email address, you will need to contact us as described below for help removing that older address from our distribution list.

Press Releases/News Tips
Please send press releases and news tips to admin@bkinformation.com

Contact Us
The Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C. You can reach us at 281-402-3957 or at accounting@bkinformation.com (email inquiries are usually answered substantially more quickly than phone inquiries). Our mailing address is 935 Eldridge Road, No. 350, Sugar Land, Texas 77478.

Copyright 2016