June 2, 2017

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

Format For Mobile Device



Law:

Despite Jump to $180K for Big Law Associates, Median Salary Stalls
(DBN)

Leading Bankruptcy and Restructuring Lawyer Robert D. Gordon Joins Jenner & Block
(DBN)

The Ranks of Women GCs are Growing
(DBN)

Cleary Gottlieb revamps benefits package for London office to include 30 weeks of maternity leave
(DBN)

Moving from Good Law to Great Law
(DBN)

This Startup Helps Clients Dish on Their Law Firms. Will the Firms Listen?
(DBN)

Seyfarth Shaw, ex-client agree to end $10 million malpractice suit Seyfarth Shaw, 2 Lawyers Settle Legal Malpractice Suit
(DBN)

At least half of the lawyers in these nine states and jurisdictions aren’t working as lawyers
(DBN)

Federal district court refuses to dismiss CFPB lawsuit against law firms and attorneys for unlawful debt relief practices
(DBN)

Jones Day lawyers received blanket ethics waiver to work in White House counsel’s office White House Ethics Waivers Look Pretty Unethical Ex-BigLaw partners land White House ethics rule waivers Jones Day Lawyers in Trump Administration Get Pass to Work With Former Colleagues
(DBN)

Womble Carlyle to merge with UK-based law firm Bond Dickinson Law Firms Strike Transatlantic Tie-Up
(DBN)

Judge Rules Big Trump Supporter Owes Nixon Peabody $5.7M in Fees
(DBN)

Yale isn’t No. 1 in alternate law school rankings
(DBN)

Harvard Law School Announces New Dean
(DBN)

University Of Florida General Counsel Resigns Amid Controversy
(DBN)

The Law Schools Where The Most Graduates Got State Clerkships (2016)
(DBN)

New ABA Email Guidelines: How Can Lawyers Comply?
(DBN)

Desktop Computers Will Become Obsolete (Part 1): Adobe’s Role
(DBN)

Ethical Dangers Of Technology In The Legal Practice
(DBN)

JPMorgan Pays $35 Million To Make Good Technology Go Away
(DBN)

White & Case Has Built The New ‘Modern’ Law Firm Office — And It’s Awesome
(DBN)

Here's exactly what to say to get out of a boring conversation
(DBN)

Norton Rose Fulbright blasted by judge for fees
(DBN)

Quinn Emanuel Managing Partner releases candid Everest diary John Quinn Takes On Mount Everest
(DBN)

Bonkers law firm website: Jumanji
(DBN)

Lawyer Gets 2 Years In Jail For Killing Dog
(DBN)

Never Fire A Potential Key Witness Before Trial
(DBN)

Ransomware in Review: 8 Prevention and Response Tips for Your Organization
(DBN)

Is There Such Thing as Preventative Law?
(DBN)

Associates, Partners - Income Hacks to Master Before You Wind Up in Outplacement
(DBN)

Air Force vet who tried to join ISIS gets 35 years in prison
(DBN)

Beverly Hills Plastic Surgeon's Files Stolen
(DBN)

Trump to Take Travel Ban to SCOTUS
(DBN)

Why Don’t You Tell Us How You Really Feel About This Lawyer Turned Politician?
(DBN)

______________

Judges:

Late Judge Arthur Votolato's influence felt far beyond his courtroom
(DBN)

Federal judge is ‘sick and tired of lawyers from white-shoe law firms’ helping clients avoid charges
(DBN)

______________

Wall Street:

U.S. stocks poised to bust out new records as optimism about payrolls data builds
(DBN)

Stocks hit record highs Upbeat U.S. data propel S&P, Nasdaq to record highs; oil steadies
(DBN)

______________

Layoffs:

Job cuts surge in May, Challenger report says
(DBN)

Retailers have eliminated 55,910 jobs so far this year — here's the full list
(DBN)

About half of all US retail jobs could vanish due to automation
(DBN)

The Environmental Protection Agency Offering Employee Buyouts in an Attempt to Cut Down Staffing
(DBN)

Baltimore City schools to lay off 115
(DBN)

GM announces 300 more layoffs in Michigan - 5,000 jobs cut since November
(DBN)

______________

Retailing:

Walmart is asking employees to deliver packages on their way home from work
(DBN)

GameStop Bankrupt Without A Model Change?
(DBN)

Report: Retail cuts lead US job losses for the year
(DBN)

Here’s The Official List Of Payless Stores That Are Closing Next
(DBN)

More struggles for footwear-focused retailers follow Payless bankruptcy filing
(DBN)

Retail carnage continues with multiple store closures
(DBN)

American Retail's Fast, Furious Decline
(DBN)

From Amazon to Wal-Mart, digital retail is producing more jobs and higher pay
(DBN)

The big missteps that brought an American retail icon to the edge of collapse 3 quotes from Sears CEO Eddie Lampert that show the retailer is doomed
(DBN)

We just witnessed a very eventful month for the retail apocalypse
(DBN)

Is More Consolidation Coming to the Consumer and Retail Industry?
(DBN)

Here's a list of the retailers that are cutting the most jobs this year
(DBN)

Stressed retailers like J. Crew and Neiman Marcus are doing something unusual to manage debt
(DBN)

______________

Autos:

US auto sales fall for fifth straight month in May
(DBN)

Audi emissions scandal erupts after Germany says it detects new cheating Audi is under fire for reportedly using emissions cheating software
(DBN)

U.S. Light Vehicle Sales at 16.6 million annual rate in May
(DBN)

Majority of Takata air bags unrepaired, Florida Senator says Takata, Honda get claims trimmed in MDL over potentially deadly airbags
(DBN)

Tesla's Horrible Quarter
(DBN)

______________

Shipping:

German shipping group Rickmers files for insolvency The curtain falls on five generations of Rickmers Rickmers Group to file for insolvency after HSH Nordbank rejects restructuring deal Rickmers 'forced' to file for insolvency
(DBN)

Seaspan's CEO on Shipping Industry, Outlook

______________

Food/Beverage:

Supervalu CEO sees opportunity in Marsh bankruptcy
(DBN)

Restaurant Performance Index Declines
(DBN)

______________

Healthcare:

Code Red: Healthcare Restructurings on the Rise
(DBN)

A major health insurer wants to limit emergency-room coverage to life-or-death incidents only
(DBN)

Independents Drive Uptick in Support for Obamacare
(DBN)

A taxpayer gamble on medical tourism: Louisiana subsidizes proton therapy to boost its economy
(DBN)

______________

Satellites:

OneWeb Deal for Intelsat Collapsed Over Big Bondholder Haircut
(DBN)

______________

Debt Collection:

Abusive debt collector gets 78 months in prison
(DBN)

Third-party debt collectors might now call on behalf of IRS
(DBN)

______________


Economy:

US factory activity edges up; private payrolls surge ISM Manufacturing index increased to 54.9 in May
(DBN)

Strong US job growth expected in May, but wage gains are seen sluggish
(DBN)

Hiring in May is expected to be strong for college grads and everyone else Goldman: May Payrolls Preview
(DBN)

Initial Weekly Unemployment Claims Since 1971
(DBN)

US jobless claims rose to 248000 last week
(DBN)

May Employment Preview Another shower of new U.S. jobs expected for May
(DBN)

FactCheck: Trump's Creation of 1 Million Jobs
(DBN)

ADP: Private Employment increased 253,000 in May Job growth in America is 'rip-roaring'
(DBN)

The parts of the U.S. economy that are still far too exciting
(DBN)

Ex-Goldman Exec: Financial Crash is Coming
(DBN)

Larry Summers: What history tells us about Trump’s budget fantasy
(DBN)

Trump Will Withdraw US From Paris Climate Agreement Trump to Pull Out of Paris Agreement, But Not Until Late 2020 Elon Musk is officially leaving Trump's advisory councils after US withdraws from Paris climate deal Disney CEO Resigns from Trump Council Why Trump Actually Pulled Out Of Paris Big businesses disapprove of Trump's decision to walk away from climate deal Here's how leaving the Paris Climate Agreement is going to affect the US Trump is pulling the US out of the Paris agreement — here's what that will do to the environment Trump rejects future in pulling out of Paris climate pact: Obama New York, California and Washington say they're sticking to Paris deal after Trump backs out Trump’s Paris Agreement withdrawal: What it means and what comes next 'There is no going back': Experts weigh in on Trump pulling the US out of the Paris agreement The reasoning behind Trump pulling out of the Paris climate agreement 'Bad for the environment, bad for the economy:' Facebook, Google, and Amazon react to Trump's decision to withdraw from Paris climate agreement 'Call his bluff': Mark Cuban tells Democrats how to punch back after Trump pulls out of Paris climate deal The US will join Syria and Nicaragua as the only nations that aren't part of the Paris agreement Trump is leaving Paris climate agreement even though majority of Americans in every state supported it MIT scientists hit back after Trump uses their research to justify Paris climate deal withdrawal
(DBN)

Construction Spending decreased in April
(DBN)

Gallup Good Jobs Rate Rises in May
(DBN)

US Economic Confidence Index Stable at +3
(DBN)

It already looks like we're going to blow the new NAFTA deal
(DBN)

The 15 best states for finding a job in 2017
(DBN)

Here's where immigrants are moving to in America
(DBN)

Chance of a recession by 2022 is 70 percent, according to this major investment firm
(DBN)

What the US Is Losing as Trump Insists on ‘America First’
(DBN)

Canada helps firms hit by U.S. lumber tax, American lobby fumes
(DBN)

Americans are taking their sweet time paying taxes, and the government is running out of cash
(DBN)

The ultra-rich are hiding way more money overseas than anyone realized
(DBN)

How are we preparing for the next financial panic?
(DBN)

Mr. President: That Tax Bill Doesn't Exist Trump says GOP 'tax bill is moving along in Congress' — even though it doesn't exist
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

______________

Real Estate:

Mortgage rates pause in anticipation of upcoming economic events
(DBN)

Here are 9 charts that can help the Fed spot the new housing bubble
(DBN)

Blackstone reclaims the crown as the world’s biggest real estate manager
(DBN)

Trump allies push new Fannie and Freddie reform plan
(DBN)

____________

Municipalities:

Puerto Rico sales tax creditors want to depose officials over 'conflicts'
(DBN)

Will Puerto Rico Find A Way To Survive Its Debt Crisis?
(DBN)

Puerto Rican Exodus Is Speeding the Island's Economic Collapse
(DBN)

Puerto Rico sued for diverting revenue for toll-backed bonds
(DBN)

Kentucky Pensions Could Face Insolvency in Five Years
(DBN)

S&P, Moody's Downgrade Illinois to Near Junk, Lowest Ever for a U.S. State With no budget for more than 700 days, Illinois' credit rating is just one notch above "junk" S&P Downgrade Brings Illinois Debt One Step Closer to Junk Illinois GO and MetPier Bonds Fall After Downgrades
(DBN)

Detroit slowly climbs back up on its feet
(DBN)

In Texas, Some Rare Good News About Cities With Pension Woes
(DBN)

Dallas County Schools on the Brink of Default
(DBN)

An Unelected Board May Be Implementing Austerity in a City Near You
(DBN)

______________

Oil/Gas:

Oil mixed; global crude glut drags despite big U.S. inventory draw Oil slides below $47 as investors return to worrying about rising production Oil drops 2% as US climate withdrawal compounds glut concerns
(DBN)

Crude inventories dive again
(DBN)

OPEC looked at extra 1-1.5 percent oil supply cut, could revive proposal Clash Between Qatar And The Saudis Could Threaten OPEC Deal
(DBN)

Trump is undermining environmental regulations to help energy companies, but it's not working.
(DBN)

7 Troubled Energy Stocks That Are Due for More Pain
(DBN)

Shale Never Was OPEC's Primary Target
(DBN)

______________

Religion:

Decades after abuse, Crosiers agree to $25.5 million settlement with survivors, file bankruptcy Catholic order files for bankruptcy protection amid abuse cases Crosiers Religious Order Files For Bankruptcy Catholic Crosiers Order Files for Bankruptcy
(DBN)

______________

Solar:

China’s Solar Industry Leaves European Solar Companies Struggling In The Shade
(DBN)

SunEdison Bankruptcy Case - Something Is Seriously Wrong Here
(DBN)

______________

Politics:

Trump's obsession with 'unmasking' could land his administration in even more trouble Why Trump’s plan to slash food stamps and Medicaid could cost him crucial support Social Security Cuts Target Trump Voters Trump Orders Agencies to Ignore Oversight Requests from Democrats Trump to return to N.J. for another weekend at golf club
(DBN)

There's a new name in the FBI's probe into Trump and Russia Putin’s Just Trolling the World Now on Trump and the US Election How the Mike Flynn Investigation Began Fired FBI Director James Comey Will Testify Publicly About Trump And Russia Investigation
(DBN)

Dislike of candidates or campaign issues was most common reason for not voting in 2016
(DBN)

Elizabeth Warren is being attacked by a gun group over a hearing-aid bill
(DBN)

Warren turns her fire on DeVos The Long Game of Betsy DeVos
(DBN)

______________

Concerts:

Fyre Was Bad. For the Concert Industry, This One Could Be Worse. Pemby Fest not dead yet?
(DBN)

______________

Fraud:

2nd Circ affirms Madoff trustee's calculation method Madoff trustee defeats appeal over payouts
(DBN)

______________

Advisors:

Naughton Joins Tiger Capital Group as Senior General Counsel
(DBN)

______________

Agriculture:

When a Family-Owned Elevator Goes Belly Up
(DBN)

______________

Amusement Parks:

Attendance Drops at Disney Parks Worldwide
(DBN)

______________

Taxis:

Uber's Talent Exodus Isn't Over Yet Uber Loses Billions. Investors Say Who Cares
(DBN)

So You Want to Be Uber's GC? Ask Yourself These 5 Questions

______________

 


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 (27 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (45 new filings today)
(DBN)

Bankruptcy Code (html) - Bankruptcy Code (pdf) Prior BK Codes (pick year from list) - 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 cases in Buffalo rise 15 percent in May
(DBN)

______________

Bankruptcy Theory:

Bankruptcies, Bailouts, and the Politics of Corporate Reorganization
(DBN)

______________

Valuation:

Ninth Circuit Holds That Valuation of Secured Creditor’s Collateral in Chapter 11 Need Not Be Based on Property’s Highest and Best Use
(DBN)

Ninth Circuit Applies Replacement Value in Cramdown Even If Lower Than Liquidation Value
(DBN)

______________

Credit Reporting:

9th Cir. BAP: Creditor’s Post-petition Reporting of Overdue Payments to Credit Reporting Agency is Not a Per Se Stay Violation
(DBN)

______________

Ch. 13:

3rd Circ.: Bankruptcy Court Can Grant Leeway in Paying Debts Late
(DBN)

______________

Litigation:

Lawyers Clean Up as Litigation Finance Business Booms
(DBN)

Personal Attacks on Trustee Not Sanctionable – But Not Helpful Either
(DBN)

______________

Substantive Consolidation:

Substantive Consolidation of Non-Debtors-Standing and Notice Issues
(DBN)

______________

Avoidance Actions:

What Happens to Fraudulent Transfer Claims When Barred by Bankruptcy’s Two-Year Statute of Limitations?
(DBN)

______________

Nuclear:

Gas May Be Killing the Nuclear Option
(DBN)

______________

Newspapers:

Despite subscription surges for largest U.S. newspapers, circulation and revenue fall for industry overall
(DBN)

______________

Surfing:

Mavericks Surf Contest Organizers Call Off Bankruptcy Auction
(DBN)

______________

Pharma:

Mylan Knew Gov't Was Overcharged for Years
(DBN)

______________

Coal:

Everyone will survive Trump’s climate mistake — except Big Coal Why Pulling Out of the Paris Climate Agreement Could Be Bad for Coal
(DBN)

______________

Personal Finance:

It’s time to stop giving money to your grown kids
(DBN)

______________

Distressed Investing:

The Incredible Shrinking Junk-Bond Market
(DBN)

______________

Corporate Reform:

U.S. consumer financial watchdog's chief makes case for embattled agency
(DBN)

Rolling Back Financial Regulation? A Closer Look Suggests Otherwise
(DBN)

______________

Cross-Border:

An Empirical Study of the Implementation in the United States of the Model Law on Cross Border Insolvency
(DBN)

______________

UK:

Rights of Foreign Currency Creditors in English Insolvency Proceedings
(DBN)

More changes afoot! Introducing the Business and Property Courts England and Wales
(DBN)

Fashion retailers with a big presence on the High Street are in trouble
(DBN)

Lawyers at Freshfields, DWF, BLP and more offer help after Manchester bomb
(DBN)

DWF partners who ran Cobbetts charged with incompetence
(DBN)

British Airways Chaos? Someone Pulled a Plug
(DBN)

A trustee in bankruptcy can only disclaim assets that form part of the bankruptcy estate
(DBN)

______________

EU:

Payment delays soar as EU’s SMEs offer reality check
(DBN)

EU Clears Way for $9.9 Billion State Rescue of Troubled Italian Bank Monte dei Paschi di Siena
(DBN)

______________

PIIGS:

Ex-PM says analyzed every scenario before Greece’s first bailout, including default
(DBN)

______________

Canada:

Will Stelco rise from the ashes?
(DBN)

______________

China:

China May factory activity contracts for first time in nearly a year
(DBN)

China Huishan Dairy Facing Fresh Legal Action from Creditors
(DBN)

______________

Montenegro:

Montenegro works to avoid bankruptcy of flag carrier, railway operator
(DBN)

______________

Venezuela:

Why Goldman Sachs Just Made An Embarrassing Bet On Venezuela Why Goldman's Venezuela bond trade sparked controversy
(DBN)

______________

Asia:

The Rise and Fall of a Commodities Giant in Asia
(DBN)

______________

Germany:

Macquarie hired to find investor for insolvent SolarWorld
(DBN)

______________

Austria:

New Personal Bankruptcy Law – without minimum payment
(DBN)

______________

Vietnam:

An overview of bankruptcy laws in Vietnam
(DBN)

______________

India:

Reforms to broaden tax base, cut debt, but NPAs still a problem: Moody's
(DBN)

______________

Cuba:

Trump Considers Reversing New Cuba Policies
(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 $64/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 phone or text us at 281-402-3957. You can email us 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 2017