July 1, 2016

The Daily Bankruptcy News

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Due to the Independence Day holiday, The Daily Bankruptcy News will not publish on Monday, July 4, 2016



Law:

Another Biglaw Firm Raises Salaries, Just In The Nick Of Time Everyone’s Apparently Not A Winner At Nixon Peabody Today Is The Last Day: Where Is The Money? Another Firm Raises Salaries For First-Year Associates Only With Deadline Looming, Firms Continue To Issue Raises Could A 5th-Year Make Less Than A 3rd-Year? Maybe, According To This Firm!
(DBN)

Who are the world’s richest practicing lawyers? Some on the list went to prison
(DBN)

Revenue inches up at Norton Rose Fulbright
(DBN)

Top GE Lawyer Tips Hat to Legal Team in ‘Too Big to Fail’ Victory
(DBN)

Robots Are Taking Divorce Lawyers ’ Jobs, Too
(DBN)

5 Ways To Piss Off A SmallLaw Lawyer
(DBN)

Hello Practice Point, Goodbye Pain Points
(DBN)

Law Books For The Price Of Printing?
(DBN)

The 17 best icebreakers to use at a party where you don't know anyone
(DBN)

Ballard Spahr Names 12 Attorneys to Firm Partnership
(DBN)

Playing The Lawyer Card
(DBN)

Lessons for Law Firms on Client Intake
(DBN)

Firm pays $665K to partner for snooping through her emails
(DBN)

An Affordable, Versatile Bluetooth Keyboard For Any Mobile Device
(DBN)

Cinemark wants Colorado theater shooting victims to pay $700,000 in legal fees
(DBN)

Hedge Fund Manager Who Spent Investor Funds On Prized Teddy Bear Collection Gets Five Years Lopped Off Sentence
(DBN)

Chipotle executive making $4.3 million a year is indicted in huge NYC cocaine bust
(DBN)

Charles Adelson's attorney denies Markel involvement
(DBN)

Texas Law Hawk crashes jet ski in new video
(DBN)

Manhattan Cocaine Sting Brings Down 18 Brandnames, e.g. Fox Producer Katie Weinhofer
(DBN)

Couple Charged in Beheading
(DBN)

Dad Admits Threatening Kids' Football League
(DBN)

Appeals court upholds lawyers’ convictions in internet paramour money scheme
(DBN)

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Judges:

GOP senator: We should have a new Supreme Court strategy if it becomes clear Trump will lose
(DBN)

For Big Law, This Supreme Court Term Won’t Be Easily Forgotten
(DBN)

How the Supreme Court justices made their millions
(DBN)

Judge berated for posting photos of himself in his pants
(DBN)

Clarence Thomas Has His Own Constitution
(DBN)

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Wall Street:

U.S. stocks struggle to hold on after 3-day rally
(DBN)

Brexit? More like Brexwhat! U.S. stocks just declared independence from fear
(DBN)

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Layoffs:

Boehringer slashes 724 jobs off U.S. sales payroll to boost R&D spending
(DBN)

Goldman Sachs has been firing traders again Goldman Sachs Said to Cut About 60 More Jobs in New York, London
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

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Politics:

The World Doesn’t Think Donald Trump Would Make a Great President, Poll Finds Donald Trump’s "new" Muslim ban plan is just as scary as the old one How Donald Trump could bury the GOP for years and hand the country to the Democrats Trump Promised to Save Ed McMahon's House Trump was once so involved in trying to block an Indian casino that he secretly approved attack ads Donald Trump's 'Pocahontas' Playbook 'I have totally terminated the loan!': Donald Trump rips 'very dishonest' NBC in Twitter rant 'That could be a Mexican plane. They're getting ready to attack' The Perfect Trump Voter
(DBN)

Elizabeth Warren Just Proved Why She’d Make a Terrible Running Mate
(DBN)

Lynch-Clinton Meeting Raises Eyebrows
(DBN)

Pew: Fewer Political Races Are Competitive
(DBN)

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Retailing:

Dick’s Sporting Goods wins Sports Authority brand name with $15 million bid
(DBN)

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Gambling:

Three Atlantic City casinos reach deal to avoid strike
(DBN)

Trump Taj Mahal Casino Workers Poised to Strike in Atlantic City
(DBN)

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Healthcare:

OH: Coshocton Memorial Hospital Files
(DBN)

Study: Consumers’ Healthcare Financial Burden is Growing
(DBN)

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Celebs:

Teresa Giudice Says Husband Joe Is Getting Six-Pack Abs in Prison
(DBN)

Bankruptcy Judge Curtails Sam Wyly's Homestead Exemption to $155K
(DBN)

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Student Debt:

Is Student Debt the Next Financial Crisis?
(DBN)

Defrauded Student Loan Borrowers May Soon Have Discharge Options
(DBN)

Just How Much Student Debt Do We Really Want To Forgive?
(DBN)

Administration's Student Assistance Regulations Are A Recipe For Corruption
(DBN)

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Distressed Investing:

CVC Credit Partners Raises €650M for Stressed/Distressed Fund
(DBN)

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Pensions:

World Biggest Pension Fund Seen Losing $43 Billion Last Quarter
(DBN)

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Economy:

Jobless claims climb 10,000 to 268,000
(DBN)

Global Bond Market Surges Most Since 2008 as Growth Outlook Dims
(DBN)

7 Years In and the Recovery Finally Feels Good
(DBN)

Could the U.S. Really Gut Its Trade Deals?
(DBN)

The US economy has been doing poorly. Europe and Japan have done much worse.
(DBN)

Broadest Of Indexes Indicates U.S. In Recession... Rate Hikes Turning To Rate Cuts And QE4?
(DBN)

Bernanke: Americans are confident in the economy — they're just not happy about it
(DBN)

How do people really feel about the economy?
(DBN)

Elizabeth Warren has some questions—of the legal variety—about the way Apple Music does business
(DBN)

Brexit fuels worries about expected U.S. earnings recovery
(DBN)

Lionel Shriver Imagines America’s Collapse
(DBN)

US Debt Clock
(DBN

World Debt Clock
(DBN)

Economic Indicators Dashboard
(DBN)

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Real Estate:

Shaky alliances form to fight zombie foreclosures
(DBN)

Hoarders: Strange reason new housing crisis worse
(DBN)

Delinquency Rates for Mortgages on Single Family Homes Decreases in May
(DBN)

Thanks, Brexit! Why UK vote is likely to boost US home sales
(DBN)

U.K. Homebuilders Seen Hunkered Down for Whatever Brexit Brings
(DBN)

Waterbridge, partners file for Ch. 11 on stalled Soho development
(DBN)

The Foreclosure Sleuth
(DBN)

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Municipalities:

Puerto Rico's PREPA says will make full debt payment on Friday
(DBN)

A Tale of Two States: Puerto Rico and Chapter 9
(DBN)

Puerto Rico Debt-Relief Bill Marks Major Win for House Speaker Paul Ryan
(DBN)

Puerto Rico defaults amid hopes for US rescue Puerto Rico Defaults on Debt as Obama Approves Restructuring
(DBN)

Puerto Rico declares moratorium on debt payments
(DBN)

Here's How PROMESA Aims to Tackle Puerto Rico's Debt
(DBN)

Puerto Rico Faces Record Default: A Look at the Bonds Due
(DBN)

Atlantic City , NJ , hires lawyers to restructure debt
(DBN)

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Oil/Gas:

US oil falls as supply stabilizes and investors take profits
(DBN)

EIA: Oil production in continental U.S. has fallen sharply since 2015 peak
(DBN)

The Risky Business of Oil and Gas in Texas
(DBN)

Shilling's $10 Oil Prediction Is Not Completely Ridiculous
(DBN)

Triangle USA Petroleum, Oil and Gas Explorer, Files Bankruptcy High Yield Bond Issuer Triangle USA Petroleum Files Chapter 11
(DBN)

Oil Producers Drill Deeper as Investors Search for Yield
(DBN)

Saudi maintains strong oil exports to US, Asia Saudi Aramco Cuts All August Oil Prices for US, Asian Clients
(DBN)

A Bad End Looks Likely For Atlas Resource Partners
(DBN)

OPEC Oil Output Hits Record High in June on Nigerian Rebound
(DBN)

The Oil World's Little Secret
(DBN)

Aramco Leads Surge in Gulf Energy Loans After Oil’s Plunge
(DBN)

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Defaults:

S&P: 91 Corporate Defaults So Far This Year, Up From 54 YTD 2015
(DBN)

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Student Debt:

Deep Dive On The Student Debt Crisis
(DBN)

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Gambling:

New Deal with Union Averts Strike at Caesars Atlantic City Atlantic City Strike Adverted at Three of Union's Five Targeted Casinos
(DBN)

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Hedge Funds:

A hedge fund darling imploded — and now everyone is asking one question
(DBN)

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Credit Cards:

Visa, MasterCard Drop as Appeal Upends $5.7 Billion Accord ‘Glaring’ conflict doomed $7.25 billion Visa/MasterCard settlement
(DBN)

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Fraud:

Bank of NY Mellon settles $312 million claim tied to Sentinel fraud
(DBN)

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Autos:

VW dealer files Chapter 11, with Passaic County suit pending
(DBN)

VW Believes It Can Fix 85,000 Vehicles
(DBN)

____________

Tax:

Disregarded Entities and Cancellation of Debt Income: Are They Really Disregarded if They Are in Bankruptcy or Insolvent?
(DBN)

Offshore Tax Cheats Feeling the Heat Again
(DBN)

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Hollywood:

Relativity Media Expected to Miss $30 Million Payment
(DBN)

____________

Shipping:

More Rough Waters Ahead for Dry Bulk Carriers
(DBN)

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New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (38 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (28 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)

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Discharge:

Plaintiff Counsel Threatened With Sanctions Responds to Judge in Experian “Meaningful Review” Bankruptcy/FCRA Case
(DBN)

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Trade Credit:

Your Customer Just Declared Bankruptcy: Recent Decision That All Suppliers/Vendors Should Be Aware Of
(DBN)

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Plan Confirmation:

Split Ninth Circuit Narrows Definition of Bad Faith Insider in Cramdown Case
(DBN)

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Mediation:

Usual Formula [Unsecured Claim + Bankruptcy = You Lose] Doesn’t Apply
(DBN)

The Smith Case: Is the Glass Half Full?
(DBN)

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Bankruptcy Remoteness:

Lender Can’t Use Corporate Structure to Waive a Company’s Right to File Bankruptcy
(DBN)

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Cross-Border:

China Fishery Group Files for Bankruptcy Protection in US China Fishery Seeks U.S. Bankruptcy Protection Amid Probes It's The End of the Road for China Fishery Group Limited and Pacific Andes Resources Development Ltd Pac Andes US bankruptcy filing aims to keep Ng family in control; Bank of America blamed
(DBN)

First Day Dec
(DBN)

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Professional Compensation:

Applying Baker Botts to Non-Attorney Bankruptcy Professionals
(DBN)

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Bankruptcy Bonuses:

Court Approves Key Employee Incentive Plan, Finding it is Not a Disguised Retention Plan
(DBN)

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Insurance:

D&O Insurance—Issues to Consider Before a Claim Arises
(DBN)

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Pharma:

KaloBios emerges from bankruptcy , raises $14M in recap
(DBN)

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Sovereigns:

Cash-Strapped Angola Struggling to Pay Debts
(DBN)

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UK:

Paris, Frankfurt Already Jockeying for City’s Brexit Spoils Markets are betting on the wrong Brexit outcome, says BlackRock’s Rosenberg IMF says Brexit uncertainty to dampen growth outlook Will the UK actually get to Brexit? Soros: Brexit vote unleashed crisis, but ‘buyer’s remorse’ is setting in As Brexit voters suffer regret, here are some decisions that can be undone after signing Gee Boris, You're Leaving After You Got Us into This Mess? Michael Gove: The Man Who Stabbed Boris in the Back U.K.’s Top Bank Regulator Faces Tough First Day After Brexit A Week Later, Credit Investors Are Shrugging Off Brexit Anxiety
(DBN)

Brexit Fallout Provides Few Crumbs for Distressed-Debt Investors
(DBN)

BHS administrators sell online and overseas business to Qatari buyer
(DBN)

Premier Oil lenders agree to waive debt covenants
(DBN)

____________

EU:

S&P: European Union Downgraded to AA from AA+ due to Brexit Vote
(DBN)

Brexit Turns Profit Into Dust for Junk-Bond Investors in Europe
(DBN)

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PIIGS:

Italian Regulator Action Shows Frail Banks
(DBN)

____________

Canada:

Defunct provincial agency faced whistleblower complaint about financial problems
(DBN)

Canada has much bigger worries than Brexit
(DBN)

Alberta response to Redwater decision could chill oil and gas mergers, Dentons says
(DBN)

____________

Germany:

Deutsche Bank Shares Plunge to a 30-Year Low After Fed, IMF Rebuke
(DBN)

____________

Bahamas:

Baha Mar Fails To Gain Control Of Legal Claim
(DBN)

Minnis Slams Govt One Year On From Baha Mar Bankruptcy
(DBN)

____________

Brazil:

Oi CEO Resumes Debt Talks, Working on Several Proposals
(DBN)

Brazil ex-tycoon Batista reappears after Eneva leaves bankruptcy
(DBN)

Brazil's Oi to begin talks with creditors next week, says CEO
(DBN)

____________

South Korea:

Korea Shipbuilding Industry Faces Crisis
(DBN)

____________

China:

Economist: China Headed for 1929 Depression
(DBN)

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