June 12, 2018

The Daily Bankruptcy News

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Law:

Cravath Hath Spoken — And Beats Milbank For Senior Associates Cravath Sets New High in Associate Salary Race Cravath Tops Milbank's Associate Pay Scale Cravath Sees Milbank’s Raise to $190K for First-Years and Adds $340K for Senior Associates ‘The Tone Deafness Is Astounding’: An In-House Hot Take On The $190K Salary Scale Greenberg Traurig Explains Why It’s Too Cheap To Raise Associate Salaries Selendy & Gay Raise Associate Salaries, And I Can’t Wait For The Quinn Emanuel Response Raising Associates to $190K: The Economy is Lulling Law Firm Leaders to Sleep Associate pay levels increase again, and there's more to come! Does $190k Starting Salary Right Out of Law School Make the Work "Meaningful?" This Big Law Leader Decided to Match Milbank. Why?
(DBN)

Some Law Firm Staff See Pay Gap Widen as Associate Salaries Soar
(DBN)

Deloitte Bets on Immigration Law, but Big Four Won't be Content With Niches
(DBN)

Ogletree Says Atty In Gender Bias Suit Is Forum Shopping
(DBN)

Dentons Ignored Managing Director's Harassment, Suit Says Dentons Employee Files Harassment Suit
(DBN)

New Study Finds Most Law Firms Mum on Mandatory Arbitration for Summer Associates
(DBN)

This Firm Has Gender, Diversity Problems. But It Isn't Hiding Them
(DBN)

As Big Law Floods Regional Markets, Will Local Firms Sink or Swim?
(DBN)

Why Lexis’ Sales Approach Should Concern Law Firm Management and Leadership
(DBN)

What to look forward to in watchOS 5
(DBN)

Billable Hour ‘Makes No Sense’ in an AI World
(DBN)

King & Spalding To Face Trial In Ex-Associate's Firing Suit King & Spalding Can’t Nix Lawyer’s Termination Suit Over ZTE Case
(DBN)

Jones Day ranks #1 in M&A for 70th quarter in a row
(DBN)

Survey: Law Firms Are Not Doing Enough to Respond to Changing Legal Market
(DBN)

Casetext Survey Finds ‘Shocking’ Level of Missing Relevant Cases in US Courts In Survey, Judges Say Lawyers’ Incomplete Research Impacts Case Outcomes
(DBN)

Woeful Judge Won’t Free Attys From Kenyon Malpractice Suit
(DBN)

King & Spalding Can't Shake Ex-Associate's Suit in ZTE Matter
(DBN)

In a First, ABA Yanks Accreditation from Struggling Law School Arizona Summit loses accreditation approval, which may be a first for an operating law school In Historic Move, ABA Revokes Abysmal Law School’s Accreditation
(DBN)

ABA Moves To Dismiss Charlotte Law Prof's Whistleblower Lawsuit
(DBN)

Law School Oversight Suits Point To Needed ABA Reforms
(DBN)

Existential crisis facing the legal profession
(DBN)

5 Things To Do When You Feel Stuck
(DBN)

Landing A Case
(DBN)

Nelson Mullins to Merge With Florida's Broad and Cassel, Creating 725-Lawyer Firm Nelson Mullins announces merger with Broad and Cassel that will result in a ‘super-regional’ firm
(DBN)

Law Firms Likely to Change Policies in Light of Salary Disclosure Laws
(DBN)

Judge sets arraignment date on witness tampering charges in Paul Manafort case Robert Mueller's Russia probe shows it pays to cooperate There’s actually lots of evidence of Trump-Russia collusion ‘Based on the Thinnest of Evidence’; Manafort Accuses Mueller of Fabricating Witness Tampering Charges Here’s Why Paul Manafort Probably Can’t Flip on Trump A Trump pardon won't mean Mueller targets are off the hook Conway's husband pens article defending constitutionality of Mueller probe Kellyanne Conway's Husband Calls Out Trump for Attacking the Mueller Appointment The Terrible Arguments Against the Constitutionality of the Mueller Investigation All the Ways Deputy AG Rosenstein Just Criticized Trump Without Saying His Name Once
(DBN)

U.S. Treasury slaps sanctions on Russian firms for cyberattacks
(DBN)

AGs, Trump Duel Over Implications Of 'Emoluments' Justice Department argues Trump can't be breaking the Constitution over foreign officials spending money at his hotel because he's not doing any favors in return
(DBN)

The Trump administration’s separation of families at the border, explained Trump administration moves to block victims of gang violence, domestic abuse from claiming asylum The Unraveling of the US Asylum System
(DBN)

Michael Cohen, Donald Trump and the public’s right to know
(DBN)

Judge Nap Shoots Down Giuliani's Idea Comey May Be Prosecuted for Clinton Investigation
(DBN)

Judge: DOJ Ignored Demands Regarding Obama Admin Communications with Clinton Campaign
(DBN)

Bill Clinton Is a Predator, Not a Victim, Most Americans Say in New Poll Bill Clinton comes to Al Franken’s defense Anita Hill on #MeToo: 'I didn't have a hashtag'
(DBN)

Michael Avenatti Says Melania Trump ‘Knows’ Stormy Daniels Affair Happened and She Deserves 'Sympathy'
(DBN)

Is a president above the law? Donald Trump’s Pardon Power and the State of Exception
(DBN)

Kids fined for lemonade stands get ‘Legal-Ade’ from Country Time
(DBN)

Lawsuit Claims Man's Photo Was Used in Ad on P--- Site Without Permission
(DBN)

Alleged Golden State Killer’s Estranged Wife Speaks for First Time After Stunning Arrest
(DBN)

Man kills 4 kids he held hostage and himself, ending long standoff: Police
(DBN)

Young law firm partner jailed after he tricked man into thinking he’d won £700,000 damages from Channel 4
(DBN)

Woman who sued lawyer for misdirected pasta throw is awarded more than $85K Al Dente: Connecticut Woman Awarded $100,000 After Receiving Head Injury From A Bowl Of Pasta Thrown By Irate Lawyer
(DBN)

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Judges:

Texas Appeals Court Reverses Lawyer's Disbarment Because of Federal Bankruptcy Judge's Testimony
(DBN)

BK DE: Amended General Order Re: Fee Examiners In Chapter 11 Cases With Combined Assets And/Or Liabilities In Excess Of $100,000,000 Before Judge Christopher S. Sontchi
(DBN)

Two Surprise Supreme Court Orders Show Why Recusals Matter
(DBN)

Former Albany-Area Judge Pleads Guilty to Scamming Millions From Estate
(DBN)

Mississippi Judge Calls Out Judiciary's 'Well Documented' Lack of Diversity
(DBN)

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Wall Street:

US stocks are set for flat open as traders shrug off Trump-Kim summit
(DBN)

US stocks close slightly higher after turbulent G-7 meeting; N. Korea summit in focus
(DBN)

Signs of Potential Market Crash Appearing
(DBN)

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Layoffs:

Robots could replace as many as 10,000 jobs at Citi's investment bank
(DBN)

Hawthorne Cedar Knolls reveals 107 layoffs
(DBN)

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Politics:

'We're America, b----': A senior White House official sums up the Trump Doctrine
(DBN)

The dollar is the 'collateral damage' of Trump's foreign policy
(DBN)

Trump and Kim Jong Un just had their first private meeting — and officials may never know exactly what was said Trump-Kim Talks Short on New Nuclear Pledges From North Korea Trump-Kim deal falls short on nuclear detail Trump and Kim Jong Un's full joint statement from the historic summit in Singapore Trump's "message of peace," but a punt on substance ‘We will have a terrific relationship,’ Trump says after meeting Kim Trump insists he will 'absolutely' invite Kim Jong Un to the White House Trump-Kim summit: An 80-year-old Supreme Court table used for historic meeting China suggests sanctions relief for North Korea after Trump-Kim summit Trump: North Korean sanctions at this time will remain in effect Trump suggests N. Korea sanctions could be eased "pretty quick" Trump: Kim says a major missile-testing site in North Korea is being destroyed now Trump: U.S. ending "war games" on Korean peninsula Trump Tells Kim He Can Stay in Power? Trump tells Hannity: "I felt foolish" with "fire and fury" rhetoric
(DBN)

After North Korea, Trump now wants a 'real deal' with Iran
(DBN)

Obama was attacked as ‘naive’ and ‘weak’ for talking to America’s enemies. Trump is turning it into a political asset Back-slapping Trump summit legitimizes Kim, say critics
(DBN)

Supreme Court upholds Ohio's voter purge policy Opinion analysis: Justices rule for Ohio in voter-registration dispute Supreme Court Upholds State's Controversial Voter Registration Deletion Practice
(DBN)

State Department Spokesperson Cites D-Day As Proof Of Our "Long Relationship With Germany"
(DBN)

For Trump, Loyalty is a One Way Street
(DBN)

Ivanka Trump made $3.9 million from the Trump International Hotel last year Justice Department Argues Donald Trump Can Legally Profit From Foreign Officials Staying in His Hotel Minimum Size of Jared Kushner's Wealth Rose in First Year in White House, Disclosure Shows Jared Kushner, Ivanka Trump made more than $80M in outside income last year
(DBN)

Richard Nixon Is the Reason President Trump's Aides Have to Repair Documents He Rips Up
(DBN)

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Religion:

Archdiocese charts $40M abuse settlement plan St. Paul archdiocese creates plan for $40M abuse settlement
(DBN)

Pope Francis accepts resignations of 3 bishops in sex abuse scandal
(DBN)

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Autos:

Subprime Auto Loans Are A Ticking Time Bomb
(DBN)

Tesla stock rallies after Elon Musk promises 'full self-driving features,' rocket-powered Roadster
(DBN)

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Magazines:

Bankrupt Penthouse magazine sells for just $11M
(DBN)

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Footwear:

Bankrupt Nine West Reportedly Sold to ABG in Auction Nine West bought by ABG Group for $340m
(DBN)

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Retailing:

Sears Hometown to close up to 100 stores
(DBN)

The Toys 'R' Us bankruptcy shows how inefficient markets are today
(DBN)

Toys R Us liquidation sales 'better than on Black Friday,' LI parents say How low will prices go? Toys R Us stores enter final days with new liquidation markdowns
(DBN)

Did suppliers, not Amazon, create the retail apocalypse?
(DBN)

Retail Center Owners Look to Hotels to Bring New Life to Vacant Big-Box Spaces Landlords Are Practically Giving Malls Away
(DBN)

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Corporate Reform:

Five ways Mulvaney is cracking down on his own agency
(DBN)

Most of Dodd-Frank will remain intact, SEC chairman says
(DBN)

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Economy:

Will the Fed Set Off a Recession Alarm? Why our next recession will be worse Bill Maher is wrong to root for a recession
(DBN)

Fed meets as inflation and economy get stronger, stirring speculation it could increase rate forecast
(DBN)

FOMC Preview
(DBN)

The Fed's Biggest Dilemma: Is the Booming Job Market a Problem?
(DBN)

Interest rates are about to rise again
(DBN)

Trump's trip to the G7 summit was a 'burning tire fire' that could push the US into a full-on trade war One map shows why Trump's trade fight with Canada could end in disaster John McCain to US allies: “Americans stand with you, even if our president doesn’t” Trump's tariff on Canadian newsprint is killing US newspapers, Republicans warn Trump's trade wars hit U.S. media businesses Trump Threatens Auto Tariffs Next After G7 Spat States that supported Trump would get hit hardest in a Canada trade war US Steel planning to add more than 800 jobs this year Tariffs on sugar, shoes mean higher costs for consumers Analyst: Trump's G-7 performance was "geopolitical equivalent of the Comey firing" Mexico Slaps Tariffs on American Apples Fact check: Trump ignores U.S. trade strengths in G7 dispute Could There Be A Total Trade War ? The Trade Wars of 2018: An Alternate History G7 Fiasco: Time to Isolate President Trump Why Canadian milk infuriates Donald Trump Canada: US Officials Kick into Damage Control Trump Takes Even More Swipes at Canada Donald Trump said on Tuesday he had a good relationship with Justin Trudeau just days after blasting the Canadian prime minister and other U.S. allies China vs. US trade war : Who would win?
(DBN)

U.S.-Canada Rift Roils NAFTA Talks Chances for a deal on NAFTA look to be lower after G-7 meeting
(DBN)

Closest allies sour on U.S.
(DBN)

Senators break with Trump, move to undo ZTE deal US publishes details of the ZTE settlement deal, but the ban is still in place
(DBN)

IMF: Clouds over the global economy are 'darker by the day'
(DBN)

Trump gets it backwards when he says the U.S. is a ‘piggy bank that everybody’s robbing’
(DBN)

Fight over trade policy is like the fight over vaccines: there’s a lot of wrong information
(DBN)

Regulator: Insiders cashing out on buybacks Corporate executives are using stock buybacks to pad their own compensation, according to the SEC
(DBN)

A closer look at those jobs numbers
(DBN)

America's Poorest Towns
(DBN)

Trump economic adviser Larry Kudlow 'in good condition' after suffering a heart attack
(DBN)

About half of the global population is still without an active bank account
(DBN)

Nationwide strike would deliver the pain to UPS
(DBN)

The top 100 US population centers all expect to see job growth in the third quarter
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Home sales could be halted by looming lapse of flood insurance program
(DBN)

America is house-rich but cash-poor — and these businesses see opportunity
(DBN)

Feds arrest dozens in sweeping action against hackers targeting wire transfers
(DBN)

Fannie Mae: Change in Mortgage Market 'Remarkable' and 'Intense'
(DBN)

How homeowners win and lose under the new tax law
(DBN)

The number of days homes spend on the market hits post-recession low
(DBN)

Real Estate Agent Boom and Bust
(DBN)

Mortgage Equity Withdrawal slightly negative in Q1
(DBN)

Are Americans Fleeing Cities for Suburbs? Not So Fast.
(DBN)

El Paso: Abraham bankruptcy trustee wants bids
(DBN)

Midland, Texas is the hottest housing market in U.S.
(DBN)

OR: Partner’s bankruptcy filing stalls Hamley auction
(DBN)

____________

Municipalities:

Puerto Rico hurricane death toll: how the official and unofficial figures got it so wrong
(DBN)

Hurricane Maria Casts Shadow Over Puerto Rican Parade A Mix of Pride and Frustration at Annual Puerto Rican Day Parade
(DBN)

Puerto Rico's status as a territory means it has to follow federal law but not get all of the benefits
(DBN)

Puerto Rico debt audit drags on as creditor negotiations heat up
(DBN)

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Celebs:

Agony for bankrupt Boris Becker as he is forced to put treasured trophies and mementos from his tennis career up for auction
(DBN)

Democrats have a plan to prevent another Puerto Rico hurricane death-toll fiasco
(DBN)

Bryan Singer Oddly Responds to R--- Allegations by Highlighting His Accuser’s Bankruptcy
(DBN)

The evolution of Teresa Giudice
(DBN)

Expert: Bankruptcy won’t spare Hayes from judgment, fines
(DBN)

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Non-Profits:

2 former UW-Oshkosh officials plead not guilty to misconduct
(DBN)

Bankrupt YMCA proposes deal to settle Downtown Y lease
(DBN)

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Pharma:

Sancilio Pharmaceuticals Pursues a Bankruptcy Sale
(DBN)

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Aviation:

Volcanic eruption hurt bookings, Hawaiian Airlines warns
(DBN)

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Autos:

German ministry says 774,000 Mercedes cars contain unauthorized software
(DBN)

Kia recalls more than 500,000 vehicles over concerns that air bags may not inflate
(DBN)

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Marijuana:

Trump says he'll probably back marijuana protections bill Twittarians Expect Trump’s Pot Plan to Totally Trigger Jeff Sessions
(DBN)

On Marijuana, Elizabeth Warren Discovers She Agrees With Clarence Thomas
(DBN)

______________

Radio:

Citibank Agents Up to $450MM DIP for iHeartMedia iHeartMedia, Inc. $450 million DIP Financing and Exit Facility
(DBN)

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Coal:

A Wyoming coal firm’s unpaid taxes confused by tangle of ownership
(DBN)

Buy Bonds, Kill Coal
(DBN)

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Distressed Investing:

The Train Wreck in Junk Bonds is Coming
(DBN)

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Fraud:

Officials Arrest Dozens in Email Scam Aimed at U.S. Businesses
(DBN)

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Student Debt:

Defrauded Students Will Stay Indebted
(DBN)

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Mass Torts:

Asbestos Trust Fraud – Forbes Writer “Nails It” in New Article Detailing Insider Dealing/Fraud
(DBN)

Mistrial Called In J&J Talc Trial After Cancer Victim Dies
(DBN)

Delaware Superior Court denies prejudgment interest in 13-year-old asbestos coverage dispute
(DBN)

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Taxis:

In NYC, 139 prized yellow taxi medallions will hit the auction block
(DBN)

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Weather:

Extreme fire danger forces another national forest to close
(DBN)

NASA Chief Changes Mind on Climate Change
(DBN)

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Sports Facilities:

LakePoint sports complex in Bartow files for bankruptcy to restructure debt
(DBN)

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Guns:

Howell Munitions filing for bankruptcy protection
(DBN)

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Entertainment:

The Weinstein Co. Chapter 11 Hearing #5
(DBN)

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Gambling:

New Jersey governor signs bill allowing sports gambling
(DBN)

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Maritime:

Low-sulphur fuel laws will see container lines 'all go bust'
(DBN)

Louisiana's Metal Shark bites into Alabama shipbuilder as business expands
(DBN)

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Electricity:

New Chapter 22 Filing - New MACH Gen LLC New Delaware Chapter 11 Filing – New MACH Gen, LLC
(DBN)

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New Bankruptcy Opinions
(2 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (18 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (11 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)

Chapter 11 Bankruptcy Case Studies
(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:

Weekly Bankruptcy Claims Trading Activity
(DBN)

BK CD CA: Bankruptcy Filings Hold Steady May 2018
(DBN)

ABI: May Commercial Bankruptcies Decrease 23% Y/Y
(DBN)

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Administrative Claims:

Debtor’s Leased - but Unused Property - Qualifies as an Administrative Expense Claim
(DBN)

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SCOTUS:

Supreme Court Decides Three Narrow Bankruptcy Issues
(DBN)

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Plan Confirmation:

Ninth Circuit Rejects Disqualification of Secured Lender’s Vote on Plan
(DBN)

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Litigation:

Finally, a Way for Lawyers to Get Really Rich
(DBN)

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Discharge:

Lamar Opinion Reminds Creditors to Get in Writing Any Representations About Debtors’ Financial Conditions
(DBN)

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Arbitration:

A Comparative Law Approach: Enforceability of Arbitration Agreements in American Insolvency Proceedings
(DBN)

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Currency:

The Bankruptcy Estate and Cryptocurrency
(DBN)

Bitcoin tumbles 10%, crypto market cap down $300 billion year-to-date
(DBN)

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Avoidance Actions:

Optimal Deterrence and the Preference Gap
(DBN)

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Miscellaneous:

Rochelle
(DBN)

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Personal Finance:

Here’s how much you need to earn to put your kid through college
(DBN)

What Social Security's budget woes mean for your retirement benefits
(DBN)

Study Shows Neighbors Of Lottery Winners Go Broke, Too
(DBN)

The dramatically different morning routines of Americans at every income level
(DBN)

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Healthcare:

5 hospital bankruptcies so far in 2018
(DBN)

Outsiders Swoop In Vowing To Rescue Rural Hospitals Short On Hope — And Money
(DBN)

Air Ambulances Are Flying More Patients Than Ever, and Leaving Massive Bills Behind
(DBN)

The Slippery Relationship Between Bankruptcy And Medical Debt
(DBN)

Private equity's thirst for health care providers
(DBN)

50 States Ranked by Life Expectancy
(DBN)

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Soccer:

Bari on verge of bankruptcy
(DBN)

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Food/Beverage:

Company Accused of Ripping Off Breweries Files for Bankruptcy
(DBN)

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UK:

New Laws Will Make Major UK Firms Disclose Pay Gaps
(DBN)

Discounter Poundworld Files for Insolvency as Woes Deepen DLA Piper takes lead role as Poundworld enters administration with more than 5,000 jobs at risk Deloitte appointed administrators of Poundworld
(DBN)

Insolvency Service cracks down on rogue directors
(DBN)

Company Voluntary Arrangements (CVAs): what they are and how they work
(DBN)

Everything you need to know about Theresa May's Brexit bill showdown
(DBN)

U.K. employment steadies, but wage growth slows
(DBN)

UK's Top Brexit Backer Tied to Russians How a Journalist Kept Russia’s Secret Links to Brexit Under Wraps
(DBN)

What landlords facing rent cuts and store closures can learn from BHS experience
(DBN)

Henri Lloyd bought in pre-pack administration
(DBN)

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PIIGS:

42 companies bust: construction insolvency “epidemic” hits Ireland
(DBN)

Italy Closes Its Borders to Refugees, Turns Away 629 on Ship
(DBN)

Italy never should have joined the euro, and the ECB can’t rescue it from its next crisis
(DBN)

Telecom Italia deal means 4,500 layoffs
(DBN)

Migrant rescue ship turned away from Italy taken in by Spain
(DBN)

'Macedonia' Issue is a Smokescreen for New Greek Austerity
(DBN)

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Canada:

Trump vs Trudeau: Will our tariff tiff lead to a recession ?
(DBN)

Trump's Beef With Canadian Milk Canada's Dairy Prices Have Become A Contentious Issue With U.S. Leaders
(DBN)

Trump Threat Rattles Canadian Auto Sector
(DBN)

Trump says Trudeau's comments are going to cost Canada 'a lot of money'
(DBN)

Inside the offshore tax scheme that left iconic Olympian Donovan Bailey owing nearly $2.3 million in unpaid taxes
(DBN)

Facing off with Trump, Trudeau dons the cape of 'Captain Canada'
(DBN)

6 points of U.S.-Canada trade friction
(DBN)

G7 Summit: Canada Isn't the Enemy
(DBN)

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India:

Fear of losing company not deterring promoters from filing for voluntary insolvency
(DBN)

Litigation is part of the debt resolution process, says Deloitte’s Uday Bhansali
(DBN)

Is A Third-Party Security Holder A Financial Creditor Under The Insolvency And Bankruptcy Code?
(DBN)

The Oil Giant That Saw Its Cash Reserves Plunge 90%
(DBN)

Companies settling cases right after notice: Bankruptcy board chairman
(DBN)

Why India’s bad bank backers are badly wrong
(DBN)

Videocon blames PM Modi, Supreme Court & Brazil for bad debt pile
(DBN)

Major Amendments Introduced To The Insolvency And Bankruptcy Code
(DBN)

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France:

Debt-laden French retailer Casino plans 1.5 bln euros of asset sales
(DBN)

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North Korea:

The state of the North Korean economy might surprise you
(DBN)

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MENA:

Abraaj Founder Scrambles as Empire Teeters Abraaj Pushed to Restructure $1 Billion Debt
(DBN)

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South Africa:

'No sacred cows': South African Airways boss plans deep cuts
(DBN)

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Argentina:

Because It Worked So Well Last Time, Argentina Will Borrow $50B From The IMF
(DBN)

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China:

Chinese Non-Performing Loans (NPLs): SAFE enhances pilot program to facilitate purchases of NPLs by foreign investors
(DBN)

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Venezuela:

Venezuela's hyperinflation at new dizzying high
(DBN)

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Ukraine:

Deposit Guarantee Fund last week sold insolvent banks' assets worth almost UAH 55 mln
(DBN)

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