June 7, 2018

The Daily Bankruptcy News

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Law:

Biglaw Giant Matches Associate Raises, PLUS Special Summer Bonuses! Simpson Thacher Matches Milbank Salary Scale, Adds Summer Bonuses Boutique Firm Announces ‘Kind Of, Sort Of’ Milbank Match The Billion-Dollar Biglaw Firms That Have NOT Raised Associate Salaries The #1 Reason Why Biglaw Clients Won’t Be Fans Of The New $190K Salary Scale Are You There Cravath? It’s Me, Milbank Your Law Firm is Paying You $190K Right Out of Law School. Now What?
(DBN)

Survey Says Small-Firm Lawyers Make $198,000 Per Year On Average, But You Probably Don’t Know Who They Are
(DBN)

Private Cloud: A Primer For Law Firms
(DBN)

4 Ways Law Firms Can Take Advantage Of The New Tax Code
(DBN)

Deloitte Will Acquire Part of US Law Firm in New Legal Venture Deloitte To Buy 8 Int'l Offices From Immigration Law Firm
(DBN)

ME: Murray Plumb & Murray expands bankruptcy practice with new partner
(DBN)

Sheppard Tells Calif. High Court Broad Waiver Saves $4M Fee In Sheppard Mullin Fee Case, California Justices Question Undisclosed Conflict
(DBN)

The White House is about to snag a major victory in its war against Comey and the FBI
(DBN)

Digging into Trump’s latest "Spygate" tweet Ryan backs Gowdy in dismissing Trump's FBI concerns Mueller's team is requesting that witnesses turn in their personal phones to inspect their encrypted messaging programs Mueller probe appears to link Manafort, European PR firm 'Delete all your emails and then acid-wash' your hard drives: Sean Hannity suggests Mueller probe witnesses should destroy their evidence The Manafort Tampering Allegations Former US attorney says Manafort will likely go to prison Friday
(DBN)

DOJ Watchdog: Comey Defied Authority
(DBN)

Rudy Giuliani danced to EDM at a restaurant in Israel, and, well, you just need to see it
(DBN)

Federal Judge Sides With Philadelphia in 'Sanctuary City' Funding Battle
(DBN)

Stormy Daniels suit: My old lawyer was a 'puppet' for Trump, Cohen
(DBN)

Ivanka Trump may soon be in the crosshairs of FBI and congressional investigators
(DBN)

Trump has granted clemency to Alice Johnson, freeing the 63-year-old grandmother whose case was championed by Kim Kardashian Trump's commutation of a 63-year-old grandmother is an example of where his disregard for institutions pays off Why US presidents can pardon anyone
(DBN)

What Were These Lawyers And Judges Thinking?
(DBN)

Lawyer Brought Into Stupid Duckling Massacre Effort
(DBN)

Despite Trump admin crackdown, illegal immigration on border increased in May Feds plan mass prosecution of illegal border-crossing cases Judge Denounces Forced Child Separation Undocumented NYC pizza delivery man faces deportation after ICE call House Republicans ready for critical immigration talks with no deal in sight
(DBN)

Members of Congress are about to have their first shot at battling Trump in court over his foreign business dealings in unprecedented case
(DBN)

PA: School Kids Given Bulletproof Shields
(DBN)

Why Are Whites More Likely to Get Tickets When Stopped?
(DBN)

Philly Teacher Accused of Taking Bribes from Students in Exchange for Good Grades
(DBN)

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Judges:

 

 

BK WD TX (Austin): Vacancy Announcement: Case Manager
(DBN)

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Wall Street:

US stocks set for a positive open on expectations of higher interest rates
(DBN)

Dow gains nearly 350 points, retakes 25,000 level as bank stocks power rally
(DBN)

Warren Buffett and Jamie Dimon join forces to end Wall Street's short-term focus
(DBN)

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Layoffs:

'Robo-journalism' no threat to journalist jobs
(DBN)

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Politics:

Is Howard Schultz the Donald Trump of the left? Starbucks career could be a double-edged sword
(DBN)

Trump signs VA bill, opposes funding it
(DBN)

Trump holds first iftar at the White House
(DBN)

How Artful Is Trump's Dealmaking?
(DBN)

Samantha Bee addresses her vulgar remark about Ivanka Trump
(DBN)

Kellyanne Conway accidentally referred to Trump as the 'Commander of Cheese' during a CNN interview
(DBN)

The work of a NY architect reveals a lot about the world where Trump and Manafort built ties to oligarchs
(DBN)

Kim Jong Un got ‘on his hands and knees and begged’ for summit, says Rudy Giuliani
(DBN)

Retired US Army colonel who studied Russian intelligence practices levels stunning accusation about Trump's relationship with Putin
(DBN)

More Americans are crediting Trump for the stronger economy, but that isn't helping the GOP with voters: NBC/WSJ poll A Strong Economy Presents Democrats with a Challenge in the Midterms
(DBN)

Nancy Pelosi could drag down Democrats—45% of voters polled are less likely to back her supporters
(DBN)

Packers Take Issue with NFL Kneeling Policy ‘It’s the Least Political Thing a President Does’
(DBN)

The Family Plan: In Louisiana, Lawmakers Promote Bills That Help Their Relatives and Clients
(DBN)

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Climate:

Rainstorms are now up to 70% stronger and wetter than they were in the 1950s — and this is only the beginning Hurricanes are slowing down, making floods worse
(DBN)

Judge Orders EPA to Produce Science Behind Pruitt's Climate Claims 'Start Here': More questions for EPA head Pruitt
(DBN)

Trump: Many Texans watched Harvey from their boats, requiring Coast Guard rescue???? Trump's focus strays from hurricanes
(DBN)

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Autos:

Elon Musk admits he sets overly optimistic timelines for Tesla's cars, says he has 'an issue with time' Musk promises manufacturing, self-driving, battery breakthroughs—and profits Tesla shares headed for best day in over two years after Elon Musk's comments at shareholder meeting Tesla surges after Elon Musk says it should meet its Model 3 production goal this month Elon Musk got one thing right about selling electric cars — but it's not enough to save Tesla from his mistakes
(DBN)

Tesla's Energy Storage Business is Soaring
(DBN)

Short sellers betting against Tesla lose more than $1 billion in single day as stock pops
(DBN)

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Coal:

Secretaries Perry, Zinke Discuss Trump Administration’s Energy Policy
(DBN)

Bob Murray drafted 6 orders on coal, climate for Trump
(DBN)

Trump’s new strategy to keep ailing coal and nuclear plants open makes no sense
(DBN)

Legal Considerations for DOE’s Leaked Coal and Nuclear Bailout Plan
(DBN)

Trump planning unprecedented intervention in electricity markets
(DBN)

In Trump’s power moves, it’s coal first, nuclear power second
(DBN)

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Personal Finance:

Don’t listen to your parents, their financial advice is all wrong for you
(DBN)

These grocery-shopping hacks could save you $525 a year
(DBN)

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Banking:

Fourth Circuit Upholds Bank’s Disclaimer Of Liability
(DBN)

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Biofuels:

Trump Siding with Farmers on Ethanol Expected deal on ethanol blending sidelined
(DBN)

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Gambling:

Acceptance of Gambling Reaches New Heights
(DBN)

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Fraud:

Nearly 500 people arrested in alleged online fraud
(DBN)

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Economy:

Trade Deficit decreased to $46.2 Billion in April
(DBN)

Fed GDPNow Latest forecast: 4.5 percent — June 6, 2018
(DBN)

Trump reportedly asks Trudeau during testy call on tariffs, 'Didn't you guys burn down the White House?' When Justin Trudeau Asked How Canada Could Be a National Security Threat to the U.S., Trump Brought Up the War of 1812 Did Canada Burn Down The White House? World Bank: Trade Issues May Cause Meltdown Europe and Mexico aren't backing down from a fight with Trump, and they're trying to hit him where it hurts Canada, EU Join WTO Dogpile Against US Metal Duties U.S. allies erupt in 'open trade war' EU Retaliatory Duties On US Goods Slated To Hit In July Sen. Bob Corker defies Trump and unveils bill to check his ability to impose tariffs Retailers back legislation that reins in tariffs Trump has cost the stock market he loves to brag about an estimated $1 trillion in value with tough trade talk GOP Sen. Rob Portman warns trade could 'spiral,' says US needs to be careful Trump likely to meet some US allies very angry over tariffs at the G7 summit in Canada Voters aren't sold on Trump's tariffs – most are reluctant to back candidates who support them, poll says Berlin Worries About Losing Trade War Trump on defense as Congress pushes back on tariffs
(DBN)

Billions in US solar projects have been shelved after Trump panel tariff
(DBN)

Merchandise Trade Deficit With China Hit Record Through April
(DBN)

Kudlow says 'no decision' reached on ZTE Kudlow: 'Don't blame Trump' for trade conflicts
(DBN)

What to expect at the G-7 summit
(DBN)

The GOP’s Welfare to Work Pitch: Some good ideas for getting Americans back in the labor force
(DBN)

The economy got 3 more years of life from Trump tax cuts: Wall Street veteran Howard Lutnick
(DBN)

Why it’s hard for Americans to get better at their jobs - and how it hurts the economy
(DBN)

Now Hiring—Everywhere
(DBN)

Companies have no choice now but to raise wages
(DBN)

Why Have Employment Rates in the United States Lagged Other Countries?
(DBN)

White House eyes changes to HHS, welfare programs
(DBN)

UPS Strike Could Disrupt Business Across U.S.
(DBN)

Repeat After Me: Social Security and Medicare Are Not Insolvent Social Insecurity
(DBN)

The next stock market crash will simply be a warm-up for an even bigger issue facing Main Street
(DBN)

A $1.8 trillion investing behemoth explains why the next recession will be an entirely different beast
(DBN)

Say goodbye to that tax break for steak dinners and game tickets
(DBN)

How to Fix Social Security
(DBN)

House Democrats Hit GOP Spending Plans
(DBN)

Millennials prioritize staying in shape over saving money, research says
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Delinquent Property Tax Sales: What Rights Does a Tax Sale Purchaser Have?
(DBN)

Angelo Mozilo and his doomed mortgage machine
(DBN)

Chicago leads US in underwater homes
(DBN)

Sam Zell on the real estate cycle, interest rates, and immigration Sam Zell Uses Vulgarity in Discussing Hiring of Women
(DBN)

Mortgage Rates Up To 3-Week Highs Mortgage Rates and Ten Year Yield Mortgage Applications Increase in Latest Weekly Survey
(DBN)

Hilco Real Estate Announces June 29 Bid Deadline - Bankruptcy Court Approves The Sale Process For A Premium Residential Development Site In Hudson Heights, Manhattan
(DBN)

San Francisco housing is so out-of-control, this gorgeous home sold for $9.6 million — $1.6 million over the asking price
(DBN)

Another adverse effect of high home prices: Fewer babies
(DBN)

Volcanic lava buries two housing tracts on Hawaii's Big Island
(DBN)

HUD Plan Raises Rents for Poor by 20%
(DBN)

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Municipalities:

Why Puerto Rico’s death toll from Hurricane Maria is so much higher than officials thought
(DBN)

Sales Tax-Backed Puerto Rican Debt up After New Deal Over Tax Revenues
(DBN)

Ex-Puerto Rico governor skeptical 4,000 died in Hurricane Maria
(DBN)

Who Is Puerto Rico's Recovery For?
(DBN)

US House committee may soon hold hearing on Puerto Rico recovery
(DBN)

Judge assures unsecured Puerto Rico creditors will have data on debt
(DBN)

New York can’t afford to lose many more tax refugees New Tax Laws Have Home Buyers Checking New Places
(DBN)

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Oil/Gas:

Oil heads toward a 2-month low as crude supplies rise unexpectedly
(DBN)

Venezuela’s Oil Meltdown Defies Belief
(DBN)

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Corporate Reform:

Elizabeth Warren says there’s a dirty little secret behind the Republicans' push for broad deregulation
(DBN)

Group that advises gov’t watchdog is disbanded, members say Trump-appointed consumer watchdog director just fired the agency's entire advisory board after criticism of his leadership The Government-by-Grift Mentality
(DBN)

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Education:

Lawsuit Accuses ITT Educational CEO of Overlooking Rescue Offers to Protect Severance Package Bankruptcy trustee sues former ITT boss, directors for $250M
(DBN)

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Electricity:

A fork in the road for U.S. power
(DBN)

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Religion:

Duluth diocese reaches another settlement
(DBN)

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Celebs:

Former Oregon first lady Cylvia Hayes to file for bankruptcy, attorney says
(DBN)

Former ‘Dance Moms’ Star Abby Lee Miller Undergoes Second Emergency Surgery
(DBN)

The World's Highest Paid Athletes
(DBN)

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Tech:

Cambridge Analytica boss claims firm was victim of 'concerted campaign' by global media Cambridge Analytica boss accused of siphoning off millions as company faced collapse Cambridge Analytica CEO reportedly embezzled $8 million Alexander Nix, Ex-Chief of Cambridge Analytica, Disputes ‘Ridiculous Accusations’
(DBN)

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Mass Torts:

Art Imitates Life: 'Billions' Describes Six-Figure, Part-Time Jobs On Asbestos Trusts
(DBN)

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Hedge Funds:

Trouble brews for ‘Wizard of Oz’ Coffey’s new hedge fund
(DBN)

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Corporate Governance:

Recent Delaware LLC Law Scholarship
(DBN)

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New Bankruptcy Opinions
(10 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

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

Recent Ch. 11 Adversary Proceeding Filings (35 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:

Elizabeth Warren and a Scholarly Debate Over Medical Bankruptcy That Won’t Go Away
(DBN)

Total May Bankruptcy Filings Decrease 4 Percent over Last Year, Commercial Chapter 11s Fall 17 Percent
(DBN)

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Secured Debt:

What Is Collateral in a Bankruptcy Reorganization?
(DBN)

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Indenture Trustees:

When a Bankruptcy Plan Precludes Inquiry Into the Conduct of a Trustee
(DBN)

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Bankruptcy Remoteness:

Can Golden Shares Block a Bankruptcy Filing?
(DBN)

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Discharge:

False Statement about One Asset does not Prevent Bankruptcy Discharge if Statement is not in Writing
(DBN)

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Securities:

Investors’ Ability to Receive Freely Transferable Securities in a Plan of Reorganization
(DBN)

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Substantive Consolidation:

Opt-Out Mechanism Enables Substantive Consolidation Under Chapter 11 Plan
(DBN)

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Cross-Border:

Two New Decisions Clarify Chapter 15 Requirements
(DBN)

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Student Debt:

Women have $890 billion in student debt, the country's biggest share
(DBN)

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Retailing:

One of New York City's most famous department stores will close after selling to WeWork. Here's what it looked like during a recent visit.
(DBN)

Toys "R" Us could have been saved
(DBN)

Toys ‘R’ Us Workers Take on Private Equity Barons: ‘You Ought to Be Ashamed’
(DBN)

PetSmart taps advisers to trim $8 billion debt pile
(DBN)

Steinhoff shares jump on lifeline from creditors
(DBN)

Retail stocks are on track for their best quarter since 2014
(DBN)

Claire's CEO was paid $2.7 million the year before the company filed for bankruptcy
(DBN)

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Travel:

Airlines raise ticket prices as fuel costs surge
(DBN)

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Healthcare:

Texas hospital considers bankruptcy as debt mounts
(DBN)

Kate Spade’s suicide is part of a disturbing trend in the US that's getting worse Kate Spade's husband gives statement about her suicide
(DBN)

The coming health care wars
(DBN)

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Currency:

Buffett and Dimon on bitcoin: Beware
(DBN)

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Entertainment:

Harvey Weinstein's contract perks revealed
(DBN)

Ex-Relativity CEO Ryan Kavanaugh Paid Himself $2.6 Million as Company Struggled Ryan Kavanaugh Might Have Been Paid $2.6M As Relativity Circled Drain With Books & Records In “Disarray”
(DBN)

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Food/Beverage:

Ford’s pickup trucks alone would be more profitable than McDonald’s: Morgan Stanley
(DBN)

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Taxis:

In the shadow of Uber's rise, taxi driver suicides leave cabbies shaken
(DBN)

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Marijuana:

All eyes on Canada as first G7 nation prepares to make marijuana legal
(DBN)

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Pharma:

White House: Trump's drug pricing plan will make rest of the world pay its fair share
(DBN)

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Telecoms:

More than half of U.S. households have ditched landline phones
(DBN)

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Asset Protection:

Is Jail Time the Nuclear Attack that Creditors have Against Offshore Asset Protection Trusts?
(DBN)

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UK:

UK's House of Fraser to close 31 stores, 6,000 jobs at stake
(DBN)

UK's Mitie sees hope for outsourcers after Carillion collapse
(DBN)

Carillion to cost UK taxpayers £148m
(DBN)

PwC quizzed over £50m Carillion fees
(DBN)

Carillion response impacts profession’s future, says Izza
(DBN)

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PIIGS:

ie: David Drumm profile: Accountant who had meteoric rise and fall as Anglo chief executive David Drumm verdict: US extradition case delayed court reckoning
(DBN)

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India:

Firms on insolvency path need not seek prior nod of bourses, SEBI
(DBN)

MSMEs under insolvency can now bid for their firms
(DBN)

Homebuyers As Financial Creditors: An Inelegant Solution?
(DBN)

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MENA:

Abraaj creditor presses on with liquidation threatening restructuring Kuwaiti creditor refuses Abraaj deal, may prompt provisional liquidation Abraaj creditor seeks liquidation of Dubai buyout firm
(DBN)

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China:

A casino touted as a place for 'extravagant feasting and revelry' is sitting unfinished — and it could point to looming problems for China
(DBN)

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