May 24, 2017

The Daily Bankruptcy News

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Law:

US Companies Are Biggest Spenders on Legal Services Globally
(DBN)

Managing Partners Frustrated by Slow Pace of Big Law Change, Survey Says Managing Partners Say Their Lawyers Are Underperforming and Slow to Change
(DBN)

Global legal services market slows in 2016
(DBN)

The New Short-Term Solution: Inside the Growing Legal Gig Economy
(DBN)

Saul Ewing, Arnstein & Lehr in Merger Talks
(DBN)

10 Law Schools Where Grads Have the Least Debt
(DBN)

Some Charlotte Law Students Now Have Even Heavier Debt Burdens
(DBN)

2016-17 Moot Court Rankings
(DBN)

Trump reportedly taps longtime attorney Marc Kasowitz of as counsel in ongoing Russia probe Trump to retain private attorney Marc Kasowitz in Russia investigation Trump Turns to Kasowitz, Rejecting D.C. Legal Vets
(DBN)

Dear Don McGahn, Please Go.
(DBN)

More than 165 BigLaw firm leaders urge Congress not to scrap legal aid for low-income Americans:
(DBN)

ABA president criticizes ‘egregious’ cuts to LSC, loan forgiveness in Trump budget proposal
(DBN)

How Much Do Clients Care About Law Firm Layoffs?
(DBN)

How to Work the Room at Networking Events
(DBN)

Why insurance law firms are banding together:
(DBN)

Co-working spaces for lawyers grow in popularity
(DBN)

Polsinelli Nominates Real Estate Lawyer to Succeed Chair
(DBN)

What if there were a way to avoid that conversational quicksand known as small talk?
(DBN)

New Study Shows Where Women Go to Law School
(DBN)

Social media can be dangerous for the info-hungry lawyer. Here's 3 ways to traverse it safely
(DBN)

At Lunch With David Boies, 20 Years After His Departure From Cravath
(DBN)

Marketing And The Law
(DBN)

Why American Workers Now Dress So Casually
(DBN)

Actor Accuses Attorney Neighbor of Harassment Campaign in Messy Co-Op Dispute
(DBN)

New Orleans mayor: Let go of a 'false narrative of history' and stop glorifying Confederate past
(DBN)

Poll: Comey was deeply unpopular at time of firing
(DBN)

Giuliani to Court: I Had No Role in Trump Travel Ban
(DBN)

Ex-BigLaw atty "Chet" Little, accused of pilfering firm's files and insider trading, out on bail
(DBN)

After upscale seafood eatery becomes Tex-Mex joint, former chef wants out of "unenforceable" noncompete:
(DBN)

When It Comes To Cybersecurity, Solos Need Best Practices, Not Ethics
(DBN)

What Trump’s Ideal Justice Department Would Look Like Flat Funding for Justice Dept. Antitrust Division in Budget Proposal
(DBN)

Dallas Lawyer Drops Houston Law Student and Others on Season Opener of 'The Bachelorette'
(DBN)

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Judges:

BK NV: Bankruptcy Bugle May 2017 issue
(DBN)

BK CO: Comments Sought On Reappointment of Incumbent Bankruptcy Judge Michael Romero
(DBN)

'El Chapo' case judge executed outside home
(DBN)

Fourth Circuit selects Shelley Koon Abel as Bankruptcy Administrator for the Western District of North Carolina
(DBN)

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Wall Street:

U.S. stocks set for 5th day of gains ahead of Fed minutes
(DBN)

Bond Buyers Go to Cash in Bet on Fading Corporate Debt Rally
(DBN)

Nobel winner Robert Shiller: Stay in the market because it ‘could go up 50 percent from here’
(DBN)

A definitive breakdown of the gloomy state on Wall Street
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Layoffs:

LeEco collapse continues as CEO cedes control; 85% of US workforce to be cut
(DBN)

Trump Soho Plans Layoffs
(DBN)

800 employees at Hillsboro solar company receive layoff warning ...

Wall Street's workforce is slowly and relentlessly shrinking
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Politics:

Former CIA director: I was concerned about 'interactions' between Russians and the Trump campaign Coats won’t say whether Trump asked him to push back on Russia probe 'Things keep getting worse for the White House': Trump may hire a private attorney amid Russia firestorm Mike Flynn Won't Cooperate With Senate Russia Probe Michael Flynn Misled Pentagon About Russia Ties, Letter Says Don’t Let the Original Trump-Russia Question Fade Does Congress Have Any Options After Flynn Takes The Fifth? You Bet. Watergate, Whitewater precedent sets stage for Russia probe Senate intelligence panel to subpoena Flynn's businesses
(DBN)

Travelers Chant 'Lock Him Up' As Man In Trump Hat Is Removed From United Plane
(DBN)

A lot of 'red states' would get hit hard by Trump's budget The real story about the Trump budget is how little of Trump is in it GOP on Trump's Budget: It's Dead on Arrival Hillary Clinton: Trump's budget shows an 'unimaginable level of cruelty' for millions of Americans Trump's budget is facing massive blowback in Congress — and Republicans are some of the loudest complainers Trump's Budget Scam
(DBN)

Democrats are looking to veterans, businessmen to retake House majority
(DBN)

Trump approval falls 4 points in new survey Trump's standing in polls has dropped: How significant is the slide?
(DBN)

American Presidents for Decades Secretly Recorded Their Conversations
(DBN)

Ethics Office Rejects WH Attempt to Stop Probe White House clashes with government ethics agency over waiver disclosure
(DBN)

'There's no reason whatsoever' for it: The Trump administration's latest battle with ethics officials is 'extraordinary'
(DBN)

The Wisdom of Pelosi's Poise on Impeachment Impeaching Trump is a Very Bad Idea
(DBN)

Hillary's Email Problem Bigger Than Thought
(DBN)

Elizabeth Warren claims Trump 'is poised to deliver the knockout blow to our middle class'
(DBN)

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Autos:

Jury says Nissan must pay $256 million to car dealer group for driving it into ruin
(DBN)

German Prosecutors Search Daimler Offices in Diesel Emissions Inquiry
(DBN)

VW Cheating Was 80 Years in the Making
(DBN)

The government plans to sue Fiat Chrysler for emissions cheating
(DBN)

$256 million awarded to defunct Newport Beach auto group
(DBN)

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Financial Services:

Labor Secretary Acosta Concedes Fiduciary Rule Cannot Be Legally Stopped Before June 9th
(DBN)

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Retailing:

The chain hailed by Wall Street as a 'retail treasure' runs the most disastrous store we've ever seen
(DBN)

Walmart's former CEO and Target's CEO clash over one of Trump's key policies — and only one of them can be right
(DBN)

All the Ways Retail's Decline Could Hurt American Towns
(DBN)

Sears Holdings Corp Still a Bankruptcy Threat Despite Debt Deal Sears gets more time to pay creditors Sears inks deal to push back debt payment, ease pension obligations Sears Gets Some Breathing Room From Its Creditors
(DBN)

Facing bankruptcy rumors, Gymboree names former Tilly's head as CEO
(DBN)

How brokers are making bank from retail bankruptcies
(DBN)

hhgregg Intellectual Property to be Sold by Hilco Streambank
(DBN)

Lowe's sinks after same-store sales miss
(DBN)

Tiffany reports a surprise drop in same-store sales
(DBN)

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Soccer:

A year before World Cup, Russian clubs battle financial woes
(DBN)

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Pensions:

U.S. Public Pensions System: Insolvent To The Core
(DBN)

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Solar:

ITC moves ahead with Suniva investigation
(DBN)

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Telecom:

Widow appeals to Avaya to protect death benefits after bankruptcy filing
(DBN)

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Economy:

Fed's Kashkari says soft inflation readings are 'concerning'
(DBN)

The Fed is about to reveal how it could unwind its biggest policy experiment ever
(DBN)

Fed's Harker: Rate hike in June 'a distinct possibility'
(DBN)

House committee hears clashing views on the impact of a border adjustment tax House GOP Tries to Keep Border-Adjusted Tax Alive
(DBN)

Trump's budget only works 'if you believe in tooth fairies' Chart: Donald Trump releases his full budget proposal Trump wants to cut billions from the departments that regulate drugs, stop infections, and research cancer 9 Top Takeaways From Trump’s $4 Trillion Federal Budget How Trump’s budget helps the rich at the expense of the poor Trump proposes dramatic changes to federal government, slashing safety net programs that affect up to a fifth of Americans The 18 Independent Agencies Trump Wants to Eliminate Trump's Cuts to SNAP and Social Security Would Hit the Rust Belt Hard Trump’s Education Budget Takes Aim at the Working Class Trump Budget Would Cut Medicaid, Rely on Rosy Growth Projection Trump's New Budget Plan Guts Medicaid. Here's What You Need to Know Donald Trump's Balanced Budget Goal Rests on Questionable Math President Trump's Budget Includes a $2 Trillion Math Mistake The dumb accounting error at the heart of Trump’s budget 5 Ways Trump's New Budget Plan Could Fail The Trump budget is just telling the truth—and you can’t handle the truth! Trump’s Budget Bars Planned Parenthood From Federal Programs Why deficit hawk Alan Simpson isn’t impressed with Trump’s budget The accounting in budget is 'crazy': Expert Trump's budget is a 'draconian' mess. We need to scrap it and start over For Trump’s budget to work, the US will need the biggest technology boom since World War II Trump budget forecasts an era of growth not consistently seen since the dot-com era Lawmakers declare President Trump’s budget proposal ‘dead on arrival’ Budget director brags about Trump’s welfare cuts: ‘You have to have compassion’ for wealthy taxpayers Proposed spending cuts meet with little enthusiasm on either side of the aisle USDA bracing for 'significant' cuts to rural, food stamps, crop insurance programs Here the 66 Programs that Trump's Budget Eliminates
(DBN)

Nice 3% Target, Mr. Trump. How Will You Get There? Former Fed No. 2 Rivlin calls Trump's budget assumptions of 3 percent growth 'very optimistic' What Ten Million Simulations Tell Us about President Trump's Chances of Achieving 3-Percent Economic Growth
(DBN)

Trump Advisors Want to Privatize Public Assets, Including Airports, Bridges Trump's America: Infrastructure is Not for the People
(DBN)

Trump Is More Optimistic Than Reagan, and That's Not Good
(DBN)

3 out of 4 American children in families rely on their mothers’ salaries
(DBN)

Fed minutes may quell doubt about a June interest-rate hike
(DBN)

The White House just made one thing abundantly clear to millennials
(DBN)

The Supreme Court's big ruling on 'patent trolls' will rock businesses everywhere
(DBN)

Why Trump’s NAFTA gamble is unlikely to bring back many blue-collar jobs
(DBN)

Employment may have rebounded since the Great Recession, but the staggering regional gaps in both real wages and productivity are getting worse
(DBN)

CEO Pay Is Rising Twice as Fast as Workers' Income
(DBN)

Treasury's Mnuchin on tax reform: 'Our objective is to get it done this year' Two obstacles are blocking the GOP path to tax cuts
(DBN)

This will be America’s new exodus
(DBN)

CEO: Let's Raise Minimum Wage to $15
(DBN)

Hedge funds are betting billions that these 18 stocks are doomed
(DBN)

JPMorgan: Geopolitical fear is at its highest point since the Arab Spring due to Trump
(DBN)

Checking Income on Just 8% of Subprime Loans
(DBN)

US Debt Clock
(DBN)

World Debt Clock
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Real Estate:

Sixth Circuit Upholds Assignment of Rents to Secured Lender
(DBN)

New home sales tumble from near 9-1/2-year high New Home Sales decrease to 569,000 Annual Rate in April Comments on April New Home Sales
(DBN)

There are tons of newly built homes – just the wrong kind
(DBN)

Housing recovery intact despite drop in new home sales
(DBN)

Ratings Firms Issue Downgrades for Mall-Backed Debt
(DBN)

Payments to Diehl during bankruptcy raise new questions about ties to Utah power brokers
(DBN)

Shopping Malls May Not Go Extinct After All, Shopping Mall Execs Say
(DBN)

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Municipalities:

Puerto Rico university president faces jail amid strike
(DBN)

Puerto Rico Bondholders Say Everybody and Nobody Has Valid Claim
(DBN)

Puerto Rico's bankruptcy will only prolong its economic meltdown
(DBN)

President Donald Trump's 2018 budget bill basically maintains the same current level of allowances for Puerto Rico in major programs such as Medicaid and Nutrition Assistance
(DBN)

Puerto Rico works to keep basic services running through debt restructuring process
(DBN)

Detroit and Puerto Rico: Which Is the Worse Insolvency?
(DBN)

Puerto Rico's example for U.S.
(DBN)

Apple 40% more valuable than Chicago
(DBN)

Hartford, Conn. might file for bankruptcy
(DBN)

Is bankruptcy Illinois' only lifeline?
(DBN)

Trump’s Proposed Budget Could Bankrupt Cities and Towns
(DBN)

Tax foreclosure threat becomes latest hardship in Flint
(DBN)

Illinois' public pensions in some ways mirror Madoff's Ponzi scheme
(DBN)

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Oil/Gas:

White House says plan to reduce oil stockpile would not harm U.S. oil prices
(DBN)

Oil continues to gain ahead of OPEC meeting
(DBN)

$25 Oil is Coming and a New World Order Too
(DBN)

A ‘death cross’ and a ‘golden cross’ are forming in oil prices—at the same time
(DBN)

OPEC set to prolong oil output cuts by nine months Oil's OPEC Rally Reaches New Highs OPEC Failure Could Lead To Downgrade Of Entire Oil Sector OPEC Wants to Carry on Pumping Less and Earning More OPEC weighs continuing oil production cuts as shale surges Here’s what OPEC needs to do to get oil above $60: RBC How OPEC can really give oil prices a quick boost Saudi Finance Minister: “I Wouldn't Care If The Oil Price Is Zero"
(DBN)

Post-Chapter 11 Oil & Gas Stocks: Good Assets Freed From Shackles Of Debt
(DBN)

Goldman warns of 2018 oil glut amid optimism over OPEC cut extension
(DBN)

Oil services stocks fall after Goldman's downbeat rig count outlook, Helmerich & Payne downgrade
(DBN)

Seadrill: Bankruptcy Looming Seadrill names new CEO, says debt talks at 'advanced' stage
(DBN)

What Selling Uncle Sam's Oil Means
(DBN)

Mexico Gets Its First Private Oil Well in 80 Years
(DBN)

Bankrupt GulfMark pursues $125 mln rights offering
(DBN)

EOG forms private equity production joint venture
(DBN)

Oklahoma budget crisis spurs battle among oilmen
(DBN)

Trump proposes slashing Gulf royalty payments to Texas, other states
(DBN)

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Healthcare:

Former Obama administration officials blast Trump's proposed health budget cuts
(DBN)

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Fishing:

Pacific Andes suspected of trade finance fraud used to fund 2013 Copeinca acquisition
(DBN)

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Education:

ITT bankruptcy liquidator sues Microsoft in bid to preserve email
(DBN)

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Debt Collection:

Attorney General Bondi and FTC Halt Massive Debt Relief Scam
(DBN)

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Auto Racing:

Say it ain't so: Skip Barber Racing School files for bankruptcy, aims for an 'expedited' sale
(DBN)

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Fraud:

Madoff Fund Paid Millions to Breeden Firm , Zero to Victims
(DBN)

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Food/Beverage:

Judge Asked to End Ownership Dispute Over Roscoe's House of Chicken and Waffles Trademark
(DBN)

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New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (21 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (3 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)

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Structured Dismissal:

Bar assesses Supreme Court’s nixing of structured dismissal
(DBN)

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Miscellaneous:

Recent Court Decisions Affecting Lenders in Restructuring and Other Workout Matters
(DBN)

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Property of the Estate:

Plaintiff Lacks Standing to Pursue Claim that Was Discovered After Bankruptcy Filing
(DBN)

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Plan Confirmation:

Section 1111(b) Election Not Available When Collateral Is Sold Post Petition
(DBN)

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Proofs of Claim:

Supreme Court Reverses Eleventh Circuit: Debt Collectors Can File Proofs of Claim On Stale Debt Without Violating FDCPA
(DBN)

SCOTUS Grants Debt Collectors Limited Reprieve
(DBN)

Victory for Debt Collectors and the Debt Buying Industry
(DBN)

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Committees:

If a Committee Steps into the Debtor’s Shoes – Just How Good is the Fit?
(DBN)

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Mediation:

Mandating Mediation to Develop a Mediation Culture
(DBN)

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Automatic Stay:

Liability Coverage Policies: Property of the Estate to Which the Automatic Stay Applies
(DBN)

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Discharge:

Third Circuit Widens the Circuit Split on Late-Filed Tax Returns
(DBN)

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Avoidance Actions:

Good-Faith Defense to Fraudulent-Transfer Claims Results in At-Issue Waiver
(DBN)

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Celebs:

Abby Lee Miller Says She’s Not Prepared for Prison: Maybe I Should Take a ‘Self-Defense Class’
(DBN)

O.J. Simpson could be paroled in weeks
(DBN)

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Taxis:

Uber Shortchanged New York City Drivers by Millions of Dollars
(DBN)

Magellan's Hamish Douglass says Uber is a 'Ponzi scheme'
(DBN)

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Nuclear:

Westinghouse reaches deal for $800 mln U.S. bankruptcy loan Westinghouse Can Tap Rest of $800 Million Bankruptcy Loan
(DBN)

Westinghouse Global Businesses Roiled by Bankruptcy
(DBN)

Toshiba May Seek Buyers for Westinghouse Starting This Fall
(DBN)

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Corporate Reform:

The Case That Could Doom Elizabeth Warren ’s Wall Street Watchdog
(DBN)

Trump budget surprise: Gutting the CFPB
(DBN)

The Trump administration thinks it can save $35 billion by rolling back Dodd-Frank regulations
(DBN)

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Trucking:

US Truckers Feel Like Throwaway People
(DBN)

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Student Debt:

Here’s how Trump wants to change the way you repay student loans
(DBN)

Women get a raw deal on student debt
(DBN)

Trump Wants to End Subsidized Student Loans
(DBN)

Prudential: Student loan debt postpones dreams, threatens financial security, say young adults
(DBN)

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UK:

Implications for Directors of recent changes to the insolvency rules
(DBN)

Jaeger suppliers owed millions consider legal action against ex-owners
(DBN)

3 arrests, raids, and controlled explosion as police investigate Manchester bomb attack Bomber Likely Didn't Act Alone
(DBN)

Joy’s creditors to see return of just 10% following administration deal
(DBN)

Company directors to be registered under Labor's 'phoenix' insolvency crackdown
(DBN)

Britain condemns US officials for leaking intelligence on Manchester terror attack
(DBN)

New figures show just how much the UK relies on London taxpayers
(DBN)

May's plan to slash immigration after Brexit could cause 'huge' economic damage
(DBN)

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PIIGS:

Greece shrugs off debt relief delay, seems confident of deal New deadline for Greece set after another stalemate Greek creditors seek to thrash out new deal as economists warn fourth bail-out looms
(DBN)

Settling Claims against Directors of Insolvent Companies – the current position in Spain
(DBN)

Greece Lifeline Key to Broader Credit Market Fortunes
(DBN)

Ryanair says wants to take Alitalia routes, not buy airline
(DBN)

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Canada:

Trees Instead of Super Models: Pemberton Bankruptcy Might Be Worse Than Fyre Fest
(DBN)

These are the most common myths about bankruptcy in Canada
(DBN)

Pemberton Music Festival: Who was in charge when it fell apart?
(DBN)

Once a Job Mecca, Canada's Oil Patch Now Struggles to Recruit
(DBN)

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India:

Needed, a market for stressed assets: The new bankruptcy code makes it possible
(DBN)

Bill To Address Bankruptcy In Financial Sector In Next Parliament Session
(DBN)

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China:

Hedge Fund Plummets 62% After Betting Against the Chinese Economy
(DBN)

China Hit by First Moody's Downgrade Since 1989 on Debt Risk Moody’s downgrades China rating for the first time in nearly 30 years China rejects ‘inappropriate’ credit downgrade, says it ‘exaggerates difficulties’ Moody's downgrades China, warns of fading financial strength as debt mounts
(DBN)

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Azerbaijan:

Creditors Cry Foul After Default as Azeri Bank Offers Debt Swap Defaulted Azeri Bank Offers Swap Into Sovereign Debt, New Bonds
(DBN)

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Brazil:

Brazil Oi creditors file U.S. motion as bankruptcy negotiations continue
(DBN)

Brazil's Odebrecht Energy Unit Renegotiates $5 Billion in Debt
(DBN)

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Venezuela:

Venezuela Calls for Elections
(DBN)

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