August 16, 2018

The Daily Bankruptcy News

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Law:

Another Biglaw Firm Matches Market Salaries… Kinda • Troutman Is Latest Atlanta Firm to Raise Associate Pay
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Biglaw Firm’s New Partner Compensation Model Leads To Blockbuster Salaries
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Large Law Firm Market Has Strong Second Quarter Says Peer Monitor Index
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UK: Trainee solicitor pay reaches £60,000 for the first time ever
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EY (With 2,200 Lawyers) Seeks To Disrupt BigLaw With Acquisition Of Alternative Legal Services Tech Company—Tax Law Practices Are Most At Risk
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The Biglaw Firm That Had A Very Good Year
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The Battle For Talent Is Disrupting The Business Of Law
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Charges Filed in Killing of Mayer Brown’s Stephen Shapiro
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Kasowitz, After Suing Another Firm, Faces Its Own Malpractice Claim
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Ex-Katten Attorney Loses Bid To Dodge Shkreli Fraud Charges
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Holland_& Knight's Steven Sonberg on what keeps him up at night
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Where in the US Are the Best Compensated General Counsel?
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The 68 Most-Cited Law Faculties
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Troubled Law School Won’t Be Holding Classes This Fall • No fall classes at Arizona Summit, school says, and a teach-out plan is being negotiated
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Judge Finds Charlotte Law School Liable For Unpaid Rent, Rejects Argument That Accreditation Woes Excused Nonpayment
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Mastering On-Campus Interviewing
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When You Feel Like You Don’t Belong
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Student Loan Advice For Incoming Law Students
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Law Firms Need Informal Reporting Programs to Quash Sexual Harassment
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UC Berkeley 'Devastated' by Law Student's Presumed Death • T14 Law School Mourns The Presumed Death Of A Student After He Fell From A Waterfall
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Is AI The Great Equalizer For Small Law?
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Just Finished Your Clerkship? Start Your Own Law Firm.
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How to finally stop procrastinating forever
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Your Chronic Stress: It’s a Matter of Confidence, Not Competence
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The Danger Of Being An Angry Woman Lawyer
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Prosecutors Allege Hidden Cash, Lies in Manafort Closing • Manafort Defense Goes After Rick Gates’ Credibility in Closings • Evidence Against Manafort Is ‘Overwhelming,’ Prosecutors Say • Manafort Lived Large But Here’s How He Could Beat the Rap • Mueller is Closing in on Roger Stone • Jury to start deliberations in Manafort trial • Paul Manafort could spend the rest of his life in prison. Here are the charges he's facing • Manafort Money 'Littered With Lies,' Feds Tell Jury • Mueller Prosecutors Reveal the Real MVP of Paul Manafort's First Trial • Judge Ellis’ Words Come Back to Haunt Him During Manafort Jury Instruction Conference • Lawyers Prepare to Fight Subpoena of Trump
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Why the gender discrimination lawsuit against Nike is so significant • The Legality Of A Women-Only Club In The #MeToo Era • Judge rejects Harvey Weinstein’s dinner-and a-movie hypothetical, allows civil trafficking suit
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Masterpiece Cakeshop baker refuses to make cake celebrating gender transition, spurring new suit • Colorado baker sues state after denying cake to transgender woman
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Omarosa Trump Tapes Could Mean 'Open Season on Privacy Rights' in the Workplace, Attorneys Say
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ACLU: Feds Setting Trap to Deport Immigrants
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Former lawyer is charged with stealing client identities to apply for litigation advances
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PA: Walmart Shooting Leaves 8 Wounded
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School Closes After Facebook Parents Threaten to Knife Transgender 12-year-old Girl
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Justice Department cracks down on opioid manufacturing
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The Museum Of Lawyers
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Lunch Ladies Allegedly Steal Almost Half A Million Dollars From School Cafeterias
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Woman Allegedly Stabbed English Tourist to Death to 'Rid the House of Evil'
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Kobach Lawyers to Federal Judge: Quit Sending Stuff
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Judges:

Mueller's Team Used the Few Tools Available to Confront Tough Judges
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Four “Yutes” And Counting: Controversy Grows Over The Judge’s Comments In The Manafort Trial
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Former Houston Judge Disciplined for Jailing Mentally Ill Rape Victim Before Trial
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The First Circuit Court To Use The P--- Emoji In A Published Opinion
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Federal Judge Wants To Hear Why Bigtime Attorney Said He’d Never Been Sanctioned… When He Was TOTALLY Just Sanctioned
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Judge who denied name changes for transgender teens is sued for alleged pattern of bias
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Kavanaugh's Ex-White House Role a Black Hole • Was Kavanaugh One Of Starr’s Leakers? Group Wants To Know
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West Virginia justice resigns after House votes to impeach entire court
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North Carolina Court Blocks Republican Effort to Rig State Supreme Court Race
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NM Judge Gets Death Threats on Bail
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Wall Street:

U.S. stock futures point to gains on easing geopolitical concerns, Cisco results • Dow is set to rebound more than 200 points on word of new trade talks with China
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U.S. stocks close lower as Turkey, trade worries continue to weigh
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‘America first’ — Here’s why the U.S. stock market outpaces global competitors
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The ‘longest bull market’ in history? Not so fast
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The Dow just registered its longest stint in correction territory in nearly 60 years
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‘If there were ever a moment to harvest gains…it is August 2018,’ warns Guggenheim’s Minerd
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Layoffs:

General Dynamics-NASSCO plans to lay off 300 to 350 workers
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Retailing:

Macy's shares tumble 5 percent as department store struggles to grow sales • Macy's stock dives most in a year as gains not enough for Wall Street
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US retail sales increase strongly in July
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Plus-Size Retailer Fullbeauty's Slide Deepens
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No, the Sky is Not Falling: Why the Business Media Needs to Refresh the Narrative About Retail
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Eddie Lampert Stripping Out Sears' Assets
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Walmart Q2 U.S. e-commerce sales up 40% • Walmart shares soar 8%
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Autos:

Tesla's board scrambles to control a chief executive who some directors think is out of control • Elon Musk may only face a minor fee if the SEC investigates his tweet storm about taking Tesla private — here's why • Elon Musk could take Tesla private with the Saudis — here’s what their sovereign wealth fund is all about • Ex-Tesla employee Martin Tripp posted dozens of photos that he alleges came from inside of Tesla • SEC has reportedly served Tesla with a subpoena after Elon Musk's take-private tweet • Shareholders face possible capital gains tax bill if Tesla goes private • Investors should brace for a drawn-out tussle between Musk, SEC • Elon Musk just made it easier for shareholders to sue Tesla for fraud
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Food/Beverage:

A 3 a.m. bankruptcy filing, unpaid millions, and IHOb burgers: Inside the $23 million battle raging within Applebee's • A bankrupt Applebee's franchisee claimed in a lawsuit that IHOP's 'ballyhooed rebranding' as IHOb put its burger sales at risk
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Can Chapter 11 help save Noon Mediterranean?
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Former NECCO owner seeks damages over plant shutdown
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Tourism:

Florida’s red tide stings tourist industry
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Healthcare:

Prominent Charlotte eye doctor says his practice owes millions, has $83 in checking
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Blackburn: Broadband lack closed rural hospitals. It didn't
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Hospitals are off to a profitable Q2
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Commodities:

Man Who Triggered $10 Billion Commodity Collapse Finally Speaks
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Coal:

EPA to Let Coal Plants Regulate Themselves
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Economy:

US industrial output rises modestly, powered by factories • Industrial Production Increased 0.1% in July
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Retail Sales increased 0.5% in July
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US second-quarter productivity strongest in 3 years
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U.S. Household Debt Jumps To $13.3 Trillion While Student Loan Delinquencies Dip
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Trump might get his slowdown in rate hikes, but for the wrong reason
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Elizabeth Warren has a plan to save capitalism • Sen. Elizabeth Warren: Trade deals help companies, not workers
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To Make America Great Again, Make Our Capitalism Accountable Again
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Trump's trade war with China fuels drop in farm prices • Farmers’ Anxiety Grows as Details on Federal Aid Remain Unclear • U.S. Stocks Fall as Trade Tensions Persist • 'Mr. Trump is part of this': Wauconda, McHenry manufacturer blames tariffs for more than 150 layoffs • Chinese Buyers Shunning US Crude Oil • LNG: China’s Biggest Weapon In The Trade War • Trump's Trade War Likely to Achieve Little • China says it will resume trade talks with U.S. • China and US will hold the next round of trade talks in late August • Trump claims his tariffs will revive U.S. steel industry • Trump is right: America was ‘built on tariffs’
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US, Mexico Close to NAFTA Deal
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LA area Port Traffic Mostly Unchanged YoY in July
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Trump is preparing to expand 'Buy America' rules to include government infrastructure projects
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This is the ‘single largest’ reason America’s 1% is now so rich
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Universal basic income costs far less than you think
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What you probably don’t know about Social Security
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States with the Best, Worst Economies
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No, Your Wages Aren’t Going Up
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US Debt Clock
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World Debt Clock
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How People Really Live
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Real Estate:

Defective Mortgages: Variations on a Theme
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Weekly mortgage applications drop as homebuyers drop out
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Fake tenants, fake income, but real loans? - U.S. Pursues One of the Biggest Mortgage-Fraud Probes Since the Financial Crisis
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Homebuilder and construction stocks enter bear market
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Homebuilder sentiment falls to the lowest point in almost a year as affordability concerns intensify • NAHB: Builder Confidence declines to 67 in August
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Trump Tower Hit With Lawsuit Over Chicago River Water Use
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NY: Stalled uptown condo development plunges into bankruptcy
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Stalled Las Olas Ocean Resort project nears sale to Rhode Island company
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WV: Former mall owner suspected of diverting rent checks, bankruptcy trustee says
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RBS Bankers Laughed About Destroying the US Housing Market
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Municipalities:

COFINA deal currently lacks needed support
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A Democratic Contender for Florida Governor Appears to Own Millions in Puerto Rican Debt
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Bringing The Light Back To Puerto Rico After Last Year’s Horrific Hurricane Season
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Puerto Rico finally restored power to the entire island — 328 days after Hurricane Maria hit
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Louisiana beefs up statutory lien in rewrite of local bond financing law
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Oil/Gas:

PetroQuest decides against $14.2 million interest payment to preserve liquidity for 30 days
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Texas oilfield services companies file more than half of US oilfield bankruptcies
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Local economists declare the end of Houston's oil bust
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What Happens to Chain of Title During Insolvencies?
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Big Oil is racing to pump all the oil out of Texas • The Permian Basin's Productivity Problem
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Study finds surging water volumes needed for fracking boom
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Truckers asleep at the wheel as diesel price shock creeps closer
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Religion:

Will the Church Sex-Abuse Grand Jury Report Lead to New Civil Suits? • Chilling 1,356-page grand jury report documents allegations about how the Catholic Church followed 'a playbook for concealing the truth' that 300 'predator priests' abused at least 1,000 children • One Priest Recommended for Job at Disney World • U.S. clergy sex revelation fuels push to reform assault laws • Grand jury says dioceses in Pennsylvania covered up sex abuse for more than 70 years • 1,000 victims, 300 priests, and 70 years of covering it up • Pennsylvania priests 'abused thousands of children' • 'It happened everywhere': Grand jury report says 'thousands' of children abused across 6 Catholic dioceses • Pennsylvania clergy abuse report: Key findings from each diocese • Victim of priest abuse: 'It's your word against God's' • Priests' Most Shocking Cases • Cardinal Wuerl Responds to Criticism After Release of Grand Jury Report • The abuse scandal in the Catholic church will not go away • Abuse victims want a full reckoning
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Bishop addresses $20M settlement between diocese and abuse victims • Montana Judge Approves Church Abuse Settlement
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Maritime:

2018 may be a write-off as shocking H1 numbers all but sink the liner industry
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Bankruptcy petition filed against Murmansk Shipping Company
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Time is running short for Triyards
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Broadcasting:

Sinclair could lose more than just Tribune
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Climate:

El Niño may make a comeback this fall and winter
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Trump's Plan to Reverse Climate Rules
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Mass Torts:

Third Circ. Revives Asbestos Claims Against Insurers in W.R. Grace Bankruptcy
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Lehman:

How The Fed Could Have Saved Lehman With Just Repo Market Intervention
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When The Music Stopped But The Bankers Were Still Dancing
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Energy Storage:

Axion Power files for Chapter 7 bankruptcy
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Tax:

Kirkland, Washington Tax Defier Convicted of Two Decade Scheme to Avoid Paying Income Taxes
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Rich Professionals Are Using Pension Plans as a Tax Dodge
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Music:

Music Producer Ryan Leslie Accused of Not Turning Over Royalties in Bankruptcy Case
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Debt Collection:

North Huntingdon debt settlement firm expects to hire about 300 employees
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Pensions:

Public Pensions And Public Trust
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Personal Finance:

Why workplace financial wellness programs are not making the grade
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6 reasons why your credit score dropped
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Credit Scores Rise Dramatically After Filing Bankruptcy
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Corporate Reform:

Trump Wants to Gut Oversight Agencies
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Electricity:

FirstEnergy Solutions moves forward with decommissioning nuclear plant
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New Bankruptcy Opinions
(13 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Chapter 7, 12 & 13 Private Trustee Locator
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Recent Ch. 11 Filings (22 new filings today)
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Recent Ch. 11 Adversary Proceeding Filings (10 new filings today)
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Bankruptcy Code (html) - Bankruptcy Code (pdf) • Prior BK Codes (pick year from list) - Bankruptcy Rules
(large downloads)

UCLA-LoPucki Bankruptcy Research Database
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Chapter 11 Bankruptcy Case Studies
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Bankruptcy Jobs:

(1) • (2) • (3) •(4)• (5) • (6) • (7) • (8)
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Seminars - (Contact us to list your seminar)

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Bankruptcy Statistics:

2018 YTD retail chain Ch. 11 debt more than $7 billion
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July Commercial Ch. 11 Filings, 2008-18
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Involuntary Bankruptcy:

Petitioning Creditors Beware: No Right To Setoff For Punitive Damages From Bad Faith Involuntary Bankruptcy Filings
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Bankruptcy Rules:

Proposed Amendments Published for Public Comment • Federal courts propose broad evidence, civil, bankruptcy rule changes
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Arbitration:

Third Circuit Affirms Bankruptcy Court Retention of Jurisdiction to Resolve Dispute Despite Arbitration Provision
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Explicitness:

Gotcha! Caught in the Explicitness Trap
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Bankruptcy Crimes:

Former Billings neurosurgeon gets prison for trying to hide assets in bankruptcy proceedings
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Cross-Border:

A Primer in Jurisdiction, International Comity, and the Presumption of Extraterritoriality
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Politics:

Omarosa's Florida Lawyer Takes to Twitter in Feud With Trump Campaign
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The GOP’s 2018 message: Be afraid. Be very afraid.
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Trump revokes ex-CIA Director John Brennan’s security clearance • Trump's revocation of ex-CIA chief's security clearance has everything to do with the Russia investigation • Politicians fire back after Trump revokes Brennan's clearance • Some in GOP Stand Up for Brennan • John Brennan: Trump's denial of collusion is "hogwash"
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3 Conspiracy Nuts and the Creation of Qanon
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Why the Governors' Races Should Be Getting More Attention
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Blacks Aren't Buying What Omarosa's Selling • Omarosa's Book Unhinged is Unhinged • If Omarosa Is Telling the Truth, Mueller Has a Lot More on Trump Than Tweets
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FCC Shuts Down Alex Jones' Pirate Radio Station • Twitter CEO: 'I don't know' if ban will change Alex Jones' behavior
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Mr. Trump, Stop Calling Us Enemies of People • Trump and the Enemies of the People • More than 300 US newspapers run editorials promoting press freedom after Trump attacks on media
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'I think it disrespects his wife': Kellyanne Conway finally reveals how she feels about her husband's fiery tweets about Trump
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Trump goes on a Twitter rampage against NY Gov. Andrew Cuomo, a potential 2020 challenger
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Candidate Drops Out of Race, Could Face Legal Trouble After Getting Caught with Fake College Diploma
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Credit Reporting:

Overhaul Boosts Credit Scores of Millions of U.S. Consumers
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Construction:

Hultgren Construction has so few assets, it might not be able to file Chapter 11 bankruptcy
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Education:

Report: Nearly 70% of students who applied for New York’s free college program were rejected
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Movie Theaters:

Movie theater stocks drop on report Amazon is going to disrupt their industry next
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Pharma:

Deerfield Agents $15MM DIP for Aralez Pharmaceuticals
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Taxis:

Uber Still Posting Massive Losses • Uber Cuts Its Losses as Revenue Soars
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Cryptocurrency:

Cryptocurrencies have been crashing: Here are some explanations
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UK:

Katie Price insists her house smells 'incredible'
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High Court backs bankrupt barrister in fees battle
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Hill Dickinson: House of Fraser prepack sale, winners and losers…
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EU: No to Leaders Summit for Brexit Talks
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PwC failed to flag BHS risks ahead of retailer's collapse: regulator
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The 'unraveling' pound is on its worst run since the financial crisis — and it's only going to go downhill
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PIIGS:

Everyone Knew Genoa Bridge was Faulty • What Brought Down the Bridge in Italy? • Italy enters blame game after bridge collapse killed dozens
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Turkey:

Turkish lira aims for third straight gain against the dollar • These charts of past currency crises show Turkey may face a lot more pain ahead • Turkey’s Economic Red Flags Stand Out Among Emerging Markets • Turks Scramble as Lira Falls and Prices Soar • Turkey Follows Russia in Dropping Off Top U.S. Creditor List • Turkey must commit to promoting stability amid market volatility, IMF says • Turkey’s currency crisis ‘has further to go,’ investment chief warns • Turkey braces for hard times amid currency crisis, US spat • Turkey Moves to Ward Off Financial Crisis as U.S. Spat Worsens
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India:

Banks Can Act Against Personal Guarantors Of Insolvent Companies
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50 times jump in losses by PSBs in June quarter
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Australia:

Home builders at high risk of bankruptcy under new staged payment scheme
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Director cops maximum ban for illegal phoenixing • Draft laws to curb phoenix operators unveiled
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Welcome to the Coast's bankruptcy capital this quarter
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Brazil:

Brazilian media group Abril files for bankruptcy protection
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China:

State-Owned Firm Narrowly Avoids Defaulting on Bond Payments
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China's July foreign direct investment rises 19%
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Venezuela:

Venezuelan government uses bonds to pay settlement with miner
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Oil assets to be seized as creditors swoop on disaster state • Venezuela creditors eye oil assets in battle over unpaid debt
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Vietnam:

Plastic industry fears bankruptcy as scrap import ban bites
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Argentina:

Argentina Is Playing a Dangerous Game in the Bond Market
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