Daily Bankruptcy News
January 12, 2018


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Due to the Martin Luther King holiday, The Daily Bankruptcy News will not publish on Monday, January 15, 2018



Law:

New Warning For Biglaw Firms — Not That They’ll Listen Anyway
(DBN)

What Does Baker Hostetler Have to Do With the Fusion GPS Controversy?
(DBN)

How Outside Companies Are Taking Over In-House Legal
(DBN)

Federal Judge Green-Lights Insurer's Suit Against Schiff Hardin for Failure to Convey Settlement Offer
(DBN)

Lawyer agrees to censure for padding internal billing records to look busy
(DBN)

Lawyer is accused of demanding $50K, the amount owed in ethics case, during attempted bank robbery
(DBN)

Bannon hires a lawyer as he's dragged into the Russia investigation Steve Bannon Turns to Quinn Emanuel's Burck Amid Russia Probe Quinn Emanuel Racks Up Another (Former) Trump Administration Client: Steve Bannon Mueller has not requested interview with Pence Indicted Trump Adviser Is Being Sued by a Russian Billionaire Robert Muller Has A Secret Power Trump alleges that the FBI agent Mueller ousted committed 'treason' by sending anti-Trump texts Trump says there was 'no obstruction' and that he 'should be given credit' for firing Comey
(DBN)

President Trump said he'd prefer immigrants from Norway over "s------- countries" Trump: 'Why are we having all these people from s------- countries come here?' ‘This is straight up racist’: CNN panel crushes Trump on remark Trump's remark galled south Florida in particular Why Trump Can't Understand Immigration From S------ Countries Trump's 's-------' comment gives up his game on immigration South Africa calls Trump's comment 'extremely offensive' GOP Sen. Jeff Flake says bipartisan senators have reached immigration deal — but others are skeptical New DACA Deal Includes Trump's Priorities A Tentative DACA Deal in the Senate White House, GOP leadership not sold on bipartisan immigration deal House Republicans' immigration proposal goes beyond Trump's vision Who’ll Blink First in the Border Wall Standoff? GOP negotiators say Trump aide Stephen Miller is standing in the way of an immigration deal Poll: 86% of Americans want Dreamers to stay in U.S.
(DBN)

Feds Raid US Maternity Hotels for US Babies
(DBN)

FBI scrutinizes funeral home with side business: Selling body parts
(DBN)

NYC: Man Robs 81-Year-Old, Then 4-Year-Old 8 Minutes Later In Broad Daylight
(DBN)

Woman accused of damaging lawyer’s Warhol paintings could get life sentence if convicted
(DBN)

The Answer To The Question ‘How Much Money Can You Steal From Clients Before Getting Caught’ Is A Terrifyingly High Number
(DBN)

Prominent Supreme Court Lawyer Jumps From Kirkland & Ellis To Quinn Emanuel
(DBN)

Passerby Notices ATM Mugging In Progress, Knocks Robber Out Cold
(DBN)

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Judges:

2 New Mexico judges sue state judicial commission to obtain secret courthouse recordings
(DBN)

TX Judge Accused of Forgery
(DBN)

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Wall Street:

Dow futures jump 100 points as dollar sags
(DBN)

Dow spikes 205 points to record close , led by Boeing
(DBN)

A 10 to 15% stock market correction is virtually unavoidable, Blackstone's Byron Wien warns
(DBN)

Trump says his physical better go well or the stock market will not be happy
(DBN)

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Layoffs:

Carrier Employees, Soon to Be Laid Off, Feel Betrayed by Donald Trump Carrier to Lay off 215 More Workers from Indiana Plant Despite Trump's Vows to save Jobs Ex-union president rips ‘liar’ Trump over Carrier layoffs
(DBN)

Walmart to shutter some of its Sam's Club locations
(DBN)

Tenet to lay off 2,000 employees
(DBN)

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Retailing:

Shiekh Shoes Battles Over DIP Financing Replacement
(DBN)

Walmart is abruptly closing 63 Sam's Club stores and laying off thousands of workers
(DBN)

Sears Holdings Announces Plan to Enhance Liquidity and Accelerate Return to Profitability
(DBN)

Why Some Are Taking Walmart's New Benefit Policies With a Grain of Salt
(DBN)

Woman Returns "Dead" Christmas Tree to Costco on Jan. 4
(DBN)

Trump renews call for internet tax, making a veiled threat against Amazon
(DBN)

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Healthcare:

The real reason health care is bankrupting America
(DBN)

Skyrocketing drug prices leave cures out of reach for some patients
(DBN)

Centene sued over "fictitious" ACA doctor networks
(DBN)

The Trump administration just opened the door to an enormous change to Medicaid Major shift as Trump opens way for Medicaid work requirement
(DBN)

Funding CHIP would save the government money, CBO says
(DBN)

Interfaith day marked by state senator's anti-Muslim outburst
(DBN)

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Currency:

Cryptocurrencies stage big comeback after trading ban fears wane; bitcoin surges 7 percent from low
(DBN)

Goldman Sachs says 'the bar looks high' for bitcoin to thrive as real money
(DBN)

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Celebs:

Teresa Giudice: I 'Wouldn't Mind' Moving to Italy If Joe Gets Deported After Prison Sentence
(DBN)

Gretchen Rossi wins legal battle and $523,250 in damages in bankruptcy court in long-running defamation lawsuit filed in 2010 RHOC Alum Gretchen Rossi Awarded $523000 in Lawsuit
(DBN)

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Golf:

Verdict prompts jubilation, disappointment and uncertainty
(DBN)

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Student Debt:

Student loan crisis could be worse than originally thought
(DBN)

Why Would DeVos Cancel A Student Loan Rule That Works?
(DBN)

Black college graduates default on their student debt more than white dropouts
(DBN)

Collection of ITT student debt barred in class action settlement
(DBN)

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Paper:

Maine-based corporation plans to buy Turners Falls former paper plant for $4 million
(DBN)

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Nuclear:

Sad collapse of Westinghouse
(DBN)

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Newspapers:

Herald publisher won’t apologize for walking away with millions
(DBN)

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Economy:

Weekly Initial Unemployment Claims increase to 261,000
(DBN)

David Rosenberg: Fed taking on role of 'serial bubble blower' and it won't 'end well'
(DBN)

There's a looming battle at the Fed - and Neel Kashkari just fired the first shot
(DBN)

Fed's Dudley warns that tax cuts putting economy on an 'unsustainable path' Worried central bank may have to ‘press harder on brakes’ in next few years
(DBN)

Treasury Secretary Mnuchin doesn't think Davos gathering of elites is a 'hangout for globalists'
(DBN)

What's Happened in the 10 Years Since the Economy Fell Apart
(DBN)

Household Debt Service Ratio Low in Q3 2017, but Starting to Increase Is Record-High Consumer Debt a Good or Bad Thing? Is This the Reason U.S. Credit Card Debt Keeps Climbing?
(DBN)

Economists Credit Trump as Tailwind for U.S. Growth, Hiring and Stocks
(DBN)

This chart shows Americans' faith in the economy soaring since Trump's election
(DBN)

Treasury lays out how new tax law will affect your take home pay Tax Reform Act – Impact on Highly Leveraged Companies Walmart rollbacks ahead: Retailer expected to use tax windfall to fund price cuts Walmart announces raises and bonuses — then closes some stores Wal-Mart Raises Hourly Wage to $11 in Wake of Tax Overhaul Forget the tax cut, Walmart's pay hikes help the bottom line Delta anticipates double benefit from GOP tax cut How to save the most using the new tax tables Save now, pay later: You may owe more taxes in 2019 Citigroup warns New York and California homeowners could see tax bills go up about $3,000 Nancy Pelosi says companies' bonuses to workers because of the tax bill are 'crumbs' Mnuchin says 90% of workers will get more take-home pay under withholding change
(DBN)

4 out of 5 workers are worried inflation will cut into their earnings
(DBN)

Carrier lays off more than 200 from Indianapolis factory a year after Trump deal
(DBN)

Why We Have to Talk About a Bubble
(DBN)

Trump's growth plan depends on a healthy dose of international trade
(DBN)

China's trade surplus with U.S. hits record high The Chinese are now buying as much stuff as Americans, a game-changer for the world economy
(DBN)

Leaving NAFTA Not the End of the World NAFTA's Dead. Now the Likely Outcomes NAFTA supporters use stock market to try to dissuade Trump from withdrawing from trade deal
(DBN)

Fiat Chrysler to move Ram production from Mexico to Michigan
(DBN)

Trump just floated a new, implausible way for Mexico to 'indirectly' pay for the wall Kellyanne Conway says Trump has 'discovered' there are rivers and mountains on the border that make a physical wall unfeasible Trump Will Accept Scaled Back Border Wall
(DBN)

Here's another bullish indicator on the state of the global economy
(DBN)

The fastest-growing and shrinking economies in 2018
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

Sacramento Housing in December: Sales down 8% YoY, Active Inventory up 8% YoY
(DBN)

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Municipalities:

'This is the last thing Puerto Rico needed': Sam's Club closures leave hundreds of workers without jobs on the hurricane-ravaged island
(DBN)

Puerto Rico governor orders probe of discovery of hurricane recovery materials
(DBN)

45 percent of Puerto Ricans still without power
(DBN)

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Oil/Gas:

Breitburn Shareholders Launch Last-Ditch Bankruptcy Showdown Breitburn Execs Defend Asset Valuations Tied To Ch. 11 Plan
(DBN)

Oil Prices Higher, Up 19% Year-over-year Oil nears $64 a barrel on shrinking inventories Oil Crosses $70 Threshold in London as Worldwide Glut Dwindles Whispers of $80 Oil Are Growing Louder Will Surging U.S. Shale Kill Off The Oil Rally?
(DBN)

Big Oil throws California’s climate change hypocrisy back in its face
(DBN)

Senators from 12 States: No Offshore Drilling
(DBN)

Rig-Count Chaos: Shale Drillers Are Confusing Oil Analysts
(DBN)

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Politics:

Trump bucked his own White House on a controversial surveillance law after watching Fox News Paul Ryan Has to Explain FISA to Trump The President Who Doesn’t Understand His Own Positions
(DBN)

Trump blasted after questioning protections for immigrants ‘from s------- countries’
(DBN)

Trump's Weird WSJ Interview
(DBN)

Democrats call for Trump Organization subpoena as part of 'serious investigation' into Trump conflicts of interest
(DBN)

'I feel betrayed' by Bannon, Trump says Bannon's brutal ouster from Trump and Breitbart circles should frighten Americans "Fire and Fury" is selling like crazy Now Steve Bannon Loses His Radio Show
(DBN)

Report: Darrell Issa considering running in district next door
(DBN)

Americans love the economy — but most still don't like Trump
(DBN)

The Voters Abandoning Donald Trump
(DBN)

Warning: Trump's Babysitters Are About to Go Home
(DBN)

Trump Approval Highest Among Mormons, Lowest Among Muslims New poll: Most see Trump’s mental fitness as legitimate concern
(DBN)

Trump says he probably has 'a very good relationship' with North Korea
(DBN)

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Religion:

Attorneys seek to break impasse with diocese over abuse
(DBN)

Creditors of Montana diocese back bid to lift bankruptcy stay
(DBN)

By 2040, Islam could be the second-largest religion in the US
(DBN)

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Pharma:

Teva’s board slashes its own compensation following massive restructuring
(DBN)

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Weather:

Hundreds search for victims of California mudslide Urgent alerts about deadly mudslides came too late for Montecito victims Hopes of finding survivors drop after California mudslides
(DBN)

US cold snap was a freak of nature, quick analysis finds
(DBN)

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Media:

Peter Thiel, who famously helped bankrupt Gawker, is now attempting to buy the site and its archive of articles
(DBN)

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Toys:

Hobby products giant Hobbico files for bankruptcy protection Filing Alert: Hobbico Files Chapter 11 to Complete a Sale Process
(DBN)

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Marijuana:

Vermont governor to sign bill legalizing marijuana possession
(DBN)

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Food/Beverage:

Waiters and bartenders could lose control of a huge portion of their earnings under a new rule proposed by DOL
(DBN)

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Cosmetics:

New Delaware Chapter 11 Filing – KIKO USA, Inc.
(DBN)

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New Bankruptcy Opinions
(7 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (31 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (0 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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Bankruptcy Statistics:

Distressed debt & bankruptcy restructuring 2017 review - Houlihan Lokey still on top
(DBN)

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Agriculture:

Lawmakers Target Bankruptcy Law: Legislation Helps Farmers in Chapter 11 Battles
(DBN)

McM lake trustee denies fraud
(DBN)

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Mediation:

The “Estate Neutral” as an Expert Witness, a Mediator and a Financial Advisor
(DBN)

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Sales:

Code Does Not Entitle Trustee to Sell Free and Clear of Creditor’s Judgment Liens
(DBN)

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Involuntary Bankruptcy:

Involuntary Proceeding Suspended to Permit Disposition of State Court Litigation
(DBN)

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Venue:

Lawmakers Target Bankruptcy Law
(DBN)

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Travel:

Plane Nearly Lands on Occupied Runway in San Francisco San Francisco's airport has nearly caused 3 of the worst disasters in aviation history all within the same year because of a terrifying flaw
(DBN)

Spain surpasses USA as tourism destination
(DBN)

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Autos:

Tesla's Model 3: Slowest. Rollout. Ever.
(DBN)

Why Much of the Car Industry Is Under Scrutiny for Cheating
(DBN)

Ford says some Rangers should be parked due to air bag death
(DBN)

GM plans car without a steering wheel or pedals for 2019
(DBN)

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Coal:

Mine closing wipes out many of Trump's coal job gains
(DBN)

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Fraud:

Cocoa firm Transmar Group's woes mount as ABN Amro, others sue for fraud
(DBN)

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Distressed Investing:

Junk-Bond Funds See Largest Cash Inflows Since December 2016
(DBN)

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UK:

UK ministers hold crisis talks over Carillion Carillion asks creditors for more time to tackle debts Troubled Carillion's tale of woe Carillion shares fall as market awaits news on financing deal
(DBN)

Four Seasons Health Care rescue talks suffer setback
(DBN)

New Look plots closure of 60 shops as high street pain grows Scottish New Look stores under threat New Look may sell off stores as debts mount
(DBN)

Carillion crisis: take contracts back under public control, government urged UK's Carillion asks creditors for more time
(DBN)

‘Left in the dark’: McMullen creditors speak out
(DBN)

Byron burger chain to radically overhaul
(DBN)

Dominic Chappell convicted in BHS case
(DBN)

Freaking Out Over Bankers' Jobs and Brexit
(DBN)

Credit where credit’s due: The Supreme Court rules on situs of letters of credit in judgment affecting those seeking to enforce awards in England
(DBN)

Donald Trump has reportedly canceled his planned trip to the UK in February Donald Trump visit to London called off amid fears of mass protests Trump Cancels London Visit, Blames Obama Trump claims he canceled his state visit to the UK because he doesn't like the embassy The $1 billion US embassy in London — which Trump says is worse than the old one and refuses to visit
(DBN)

Farage May Have Second Thoughts on Brexit
(DBN)

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PIIGS:

One Year After Bailout, Italian Bank Is Turning Away Bond Buyers
(DBN)

Greek metro halted, ships docked in protest over new reforms
(DBN)

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Canada:

Judge Dismisses Ticketfly’s Request For Pemberton Ticket Proceeds To Enter Constructive Trust
(DBN)

Is court protection tying down our steel mill like coils on a flatbed?
(DBN)

Systematic attack on pensions
(DBN)

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Venezuela:

Gourmet chocolate becomes economic lifeline in Venezuela crisis
(DBN)

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Austria:

Airline Niki submits insolvency filing in Austria
(DBN)

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Hong Kong:

Cross border restructuring in Hong Kong aided by common law judicial assistance to foreign liquidators
(DBN)

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South Korea:

KDB threatens to scrap Kumho restructuring
(DBN)

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