April 12, 2019

The Daily Bankruptcy News

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Law:

Big Four May Gain Legal Market Foothold With State Rule Change
(DBN)

Sanford Heisler, The Firm Helping Female Lawyers Sue Big Law
(DBN)

Jones Day Boasts 26 Percent Female Partners, But How Many Are Equity?
(DBN)

Potter Anderson Expands Bankruptcy Practice With Three New Lawyers Potter Anderson Takes Bankruptcy Trio From Whiteford Taylor
(DBN)

Kirkland criticized for wild party
(DBN)

15 lawyers have left this law firm, whose head count is shrinking
(DBN)

Biglaw Partner Dishes On The Most Surprising Thing About Making Partner
(DBN)

These 3 Lawyers Want to Dismantle Texas' Mandatory Bar
(DBN)

Hertz Sues Ex-General Counsel to Claw Back Pay After SEC Probe
(DBN)

Law Student Makes Astute Points About Law School Before Just Going All Racist
(DBN)

Will Kim Kardashian Be Able To Pass The Bar Exam?
(DBN)

Harvard Officially Has Too Much Money
(DBN)

UK: Firm of the Year 2019: The good to the meh for work/life balance
(DBN)

Ex-Obama counsel Gregory Craig indicted in Mueller-related case Greg Craig, Former Skadden Partner, Charged With Lying About Ukraine Work Former Obama Lawyer Indicted for Allegedly Lying to the Department of Justice The Mueller report's redactions will be like Mad Libs, but for democracy William Barr Is Redefining What it Means to 'Spy' Going beyond Barr, Trump claims ‘illegal spying’ on campaign Kellyanne Conway Seems to Have Forgotten That Robert Mueller Indicted Michael Flynn The expected redactions in the Mueller report, explained Rod Rosenstein Breaks Silence on Barr's Handling of the Mueller Report, Calls Criticism 'Bizarre'
(DBN)

It's Clear: Law Demand Mnuchin Turn Over Trump's Tax Returns
(DBN)

15 ways to make people respect you immediately
(DBN)

Michael Avenatti embezzled millions from paraplegic client, new 36-count indictment alleges Lawyer: Avenatti victim destitute after theft Michael Avenatti Charged With… A Whole Bunch MORE Stuff DOJ: Attorney Michael Avenatti Named in Federal Grand Jury Indictment that Accuses Him of Stealing Millions of Dollars from Clients 36-count indictment accuses lawyer Avenatti of stealing from clients; max sentence could be 335 years 12 Most Explosive Allegations in Massive 36-Count Indictment Against Michael Avenatti US: Avenatti deceived to prevent 'house of cards' collapse Avenatti, lawyer known as Trump foe, indicted for financial crimes Avenatti hit with 36 federal charges, including tax fraud and embezzlement, report says Prosecutors paint Avenatti as con man, he says claim ‘bogus’
(DBN)

Julian Assange charged by U.S. with conspiracy to hack government computer Frail-looking Assange arrested by British police after seven years in Ecuador embassy What law is Julian Assange accused of breaking? U.S. Gov’t Dodges Statute of Limitations Issue by Treating Assange Like a ‘Terrorist’ The Assange indictment shows how hard it is to protect classified information in the modern era Top 4 Takeaways from DOJ’s Indictment of WikiLeaks Founder Julian Assange Snowden: Assange Arrest a 'Dark Day for Press Freedom' Why Ecuador withdrew asylum for 'spoiled brat' Assange after almost seven years How Ecuador soured on Assange Assange: A Decade of Stunning Leaks of Secrets How British police arrested Julian Assange without breaking international law ACLU Blasts Trump DOJ's Prosecution of Assange as 'Unconstitutional' Trump goes from 'I love WikiLeaks' to 'I know nothing about WikiLeaks' All The Times Trump Praised WikiLeaks
(DBN)

Deputy's son charged in connection with three black church fires in Louisiana
(DBN)

What’s happening at the U.S.-Mexico border in 6 charts White House considered busing migrants to 'sanctuary cities' as political retaliation Mainstream Media outlets change their tune on Border Crisis 9 questions about the border crisis you were too embarrassed to ask
(DBN)

He tried to frame his daughter for his wife's bathtub death; after his conviction, she still believes he's innocent
(DBN)

Man Sentenced to Prison After Wife Returned Rental Car with Meth
(DBN)

Woman Attacks Playboy-Themed Bunny Easter Display
(DBN)

Chicago sues Jussie Smollett for investigation costs
(DBN)

Boycotting Israel is anti-Semitic, new Trump envoy says
(DBN)

A man who was arrested for taking sand from the Masters recounted how it cost him $20,000 and left him 'seriously depressed'
(DBN)

Man accused of abandoning pet fish is off the hook for animal cruelty, DA says
(DBN)

Bonkers Law Firm Website: Shy guys
(DBN)

Brown Rudnick attorney flagged for LinkedIn note lands new gig
(DBN)

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Judges:

Justices Scalia and Kennedy — Their Impact on Bankruptcy Court Authority
(DBN)

Trump's Sister Retires From Federal Judge Position Amid Tax Fraud Probe Trump’s sister, a federal appeals judge, resigns amid ethics inquiry Trump’s Sister Retires, Highlighting Judge Misconduct Loophole Trump’s sister quietly retired in February, and it’s actually a really big deal Trump's sister eschewed family's flash on the 3rd Cir. bench
(DBN)

Gorsuch Charts Course as Originalist With Independent Streak
(DBN)

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Wall Street:

Dow futures slightly higher with earnings season set to kick off US stock futures climb after China trade data, as bank earnings loom
(DBN)

Stocks close little changed as Wall Street gets set for the start of the corporate earnings season
(DBN)

‘The slowdown story is a complication’ — Global stocks are down after central banks warn on growth
(DBN)

S&P's ratings downgrade ratio is the worst in 3 years
(DBN)

Risk of earnings recession rises, as S&P 500 profits to fall for first time in 3 years
(DBN)

US earnings may fall into recession, but Blackstone says it’s still bullish on stocks
(DBN)

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Layoffs:

Schumer calls for federal inquiry into Friendly’s closures in New York Friendly's workers left with no direction
(DBN)

Spokane schools issues 325 layoff notices
(DBN)

College of New Rochelle employees informed of 500 layoffs
(DBN)

Gilead slashes 150 jobs
(DBN)

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Fraud:

DOJ charges property firm founder, former executives in Ponzi scheme
(DBN)

Lori Loughlin reportedly thought prosecutor was 'bluffing,' just now realizing 'how serious this is' Lori Loughlin Reportedly ‘Neglected’ Plea Deal Opportunity Because She Thought She Could ‘Skate By’
(DBN)

College Scandal Parents Tap Ex-Prosecutors
(DBN)

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Healthcare:

AG Slatery accuses Franklin health care firm of fraud, seeks max penalty
(DBN)

Senate Republicans introduce bill protecting pre-existing conditions
(DBN)

New York City vaccination order shines spotlight on insular Jewish community
(DBN)

Feds Bust Alleged $1.2 Billion Telemedicine Medicare Fraud Scheme
(DBN)

For many Texas teachers, health insurance premiums are huge — but so are the hospital bills
(DBN)

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Politics:

Trump says he knows ‘nothing’ about WikiLeaks — even though he praised it over 100 times in 2016 Trump in 2016: “I love WikiLeaks!” Trump now: “I know nothing about WikiLeaks.”
(DBN)

Elizabeth Warren: The Republican Years
(DBN)

Progressives should worry more about the odds that Joe Biden will win Joe Biden Less Electable Than He Looks
(DBN)

Gender gap widens in views of government’s role – and of Trump
(DBN)

Senate confirms former oil and gas lobbyist David Bernhardt as interior secretary
(DBN)

Stephen Miller is the lone survivor at the center of Trump's Homeland chaos
(DBN)

Bannon: If Trump Wins Again, Expect Payback
(DBN)

Congress scorns Trump plan to cut, weaponize foreign aid
(DBN)

Trump shares an inaccurate graphic on Twitter that overstates his job approval by 12 points
(DBN)

Trump Job Approval Poll of Polls - Approve: 43.1% - Disapprove: 52.9%
(DBN)

How A Trump Proposal Could Reduce 'Happy' Disabled People
(DBN)

Disney CEO Bob Iger reportedly said that 'Hitler would have loved social media'
(DBN)

3 big tax planning takeaways from Sen. Elizabeth Warren's 2018 return
(DBN)

Republicans are taking Ilhan Omar’s comments on 9/11 out of context to smear her
(DBN)

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Climate:

Natural disasters can hurt people's credit scores for years afterward
(DBN)

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Economy:

Federal Reserve Chairman Jerome Powell will meet with Democrats as Trump increases pressure on the central bank
(DBN)

Mohamed El-Erian: The Fed has swung from 'too hawkish' to 'too dovish'
(DBN)

US producer prices post the biggest increase in 5 months
(DBN)

Fed's Clarida sees signs of slowing in incoming data
(DBN)

Will There Be a Recession This Year? Fed Minutes Offer Clues
(DBN)

IMF Urges Rebuilding of Public Debt Buffers for Next Downturn
(DBN)

Why a senior IMF official fears the Fed may at some point need to hike rates even with low inflation
(DBN)

Trump has been turning up the heat on the Fed and now the IMF is warning political pressure on central banks is 'dangerous' Moore Shocked by His Own Support of Gold Standard Pelosi slams Trump's Fed picks as 'totally unsuited, unqualified' 4 Republican senators oppose Herman Cain Fed nomination Republicans are set to tank Herman Cain’s nomination to the Federal Reserve McConnell won’t say if Senate would back Herman Cain for Fed White House standing by Cain for Fed 'at the moment,' Kudlow says Pence says nominations of Cain, Moore to Fed still in 'very early' stage Herman Cain appears to lack the support for Senate confirmation to Fed seat Herman Cain to pull his name from consideration for Fed board: report Cain: God Will Say When to Quit Fossil Fuels
(DBN)

Weekly Initial Unemployment Claims decreased to 196,000 US weekly jobless claims drop to the lowest level since 1969
(DBN)

World Bank President David Malpass says there is too much debt in the world
(DBN)

China's March trade surplus soars past expectations, Beijing data show Carmakers to Trump: Stop Natl. Security Bit A US-EU trade war would be a political and economic mistake, says French finance minister
(DBN)

Democratic presidential candidate Elizabeth Warren wants to raise $1 trillion in revenue with a new 7% tax on corporate profits over $100 million
(DBN)

Why the Deficit May Not Be Such a Problem – for Now
(DBN)

Two trillion dollars in U.S. federal taxes : A breakdown of personal, corporate, and foreign sources of revenue
(DBN)

America is not full. Its future rests with young immigrants.
(DBN)

Average tax refund is little changed at $2,833, IRS chief says
(DBN)

Nearly half of indebted millennials say college wasn't worth it, and the reason why is obvious
(DBN)

Millennials are falling out of the U.S. middle class
(DBN)

Mike Pence says the American dream was ‘dying’ before Trump became president
(DBN)

American workers testing positive for drug use climbs to 14-year high
(DBN)

Warren Buffett: 'Something different' is happening in the economy right now
(DBN)

The best and worst U.S. states for taxpayers
(DBN)

America Has A Monopoly Problem
(DBN)

10 Jobs Disappearing the Fastest
(DBN)

Poverty Can Changes Our Genes
(DBN)

Trump says he considered his daughter Ivanka to lead the World Bank
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Housing Inventory Tracking
(DBN)

Sacramento Housing in March: Sales Down 5% YoY, Active Inventory up 4% YoY
(DBN)

Mortgage rates drift higher for second week in a row
(DBN)

CFPB considers slapping Wells Fargo with more sanctions
(DBN)

A battle is brewing in Beantown to bring back rent control
(DBN)

Kamala Harris reintroduces rent relief legislation
(DBN)

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Municipalities:

Infighting stalls disaster aid for Puerto Rico, Southeast
(DBN)

Puerto Rico's power authority nears $9 billion debt restructuring deal
(DBN)

GO Bondholders Want Level Field for Modest-Size Investors
(DBN)

U.S. court's Puerto Rico bond ruling prompts Fitch ratings warning for other issuers Fitch Places Seven USPF Special Revenue Ratings on Negative Watch Pending Court Decision
(DBN)

Moody's gives thumbs-up to Detroit's ‘conservative' fiscal 2020 budget
(DBN)

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Retailing:

Madewell IPO? J.Crew Mulls Solutions for Crushing Debt
(DBN)

As the 'retail apocalypse' grows, clear winners and losers emerge
(DBN)

LK Bennett sold to Chinese franchise partner
(DBN)

Jeff Bezos warns Amazon will have ‘multibillion-dollar failures’ Bezos, hunting for big wins, is comfortable with big fails
(DBN)

Jeff Bezos challenges retail rivals to match Amazon's $15 minimum wage Jeff Bezos called for Amazon's competitors to raise their minimum wage. Here's how retail rivals like Walmart, Target, and Costco stack up on worker pay. ‘How about paying your taxes?’—Walmart responds to Amazon’s challenge over pay
(DBN)

What's the Story with Macy's?
(DBN)

Fred's shares jump as liquidation sales for 159 closing stores set to begin
(DBN)

Amazon helped police plant fake packages to try and trap thieves
(DBN)

Bed Bath & Beyond's efforts to improve profitability hurt sales Bed Bath & Beyond is failing and the activists savaging management are 100% right Bed Bath & Beyond plans to close at least 40 stores this year
(DBN)

Turmoil again at Mattress Firm? CEO suddenly exits six months after bankruptcy
(DBN)

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Football:

AAF fallout: Giants sign 1st player from defunct league
(DBN)

AAF players file class action lawsuit against now-defunct football league
(DBN)

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Agribusiness:

CA: Extension sponsors talk on livestock buyer bankruptcy
(DBN)

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Religion:

Former Pope Benedict contradicts Pope Francis letter about clerical abuse Former Pope Blames '60s Culture for Priests' Abuse
(DBN)

Bannon joins forces with ultra-conservatives aiming to shake up the Vatican
(DBN)

What We Know About Louisiana Church Arson
(DBN)

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Newspapers:

Judge grapples with unusual situation in case
(DBN)

For sale: National Enquirer's parent company "disgusted" with the paper
(DBN)

Voters' Choices Shrink as Newspapers Do
(DBN)

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Banking:

No major bank CEO thinks a female or person of color is likely to succeed them
(DBN)

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Aviation:

Boeing reportedly made the flight-control system that mistakenly activated during 2 deadly crashes 4 times stronger while creating the 737 Max
(DBN)

An American Airlines pilot pleaded guilty to drinking before a flight
(DBN)

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Celebs:

Tori Spelling’s Husband Dean McDermott Ordered To Appear In Court In Bank Lawsuit Case
(DBN)

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Music:

Why the Gay Men’s Chorus of L.A. is singing for survival
(DBN)

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Hotels:

Slight delay sought in Cobblestone Chapter 11 case
(DBN)

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Taxis:

The Typical Uber Rider
(DBN)

Uber IPO Warning Drivers Will be Less Happy
(DBN)

All of Uber's Worries
(DBN)

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Food/Beverage:

Michael Avenatti's coffee chain reportedly failed to pay $3 million in taxes, as the lawyer used the company's funds to pay his rent, shop at Neiman Marcus, and more Unpaid taxes, abruptly closed locations, and employee rebellions: Inside the 6-year downfall of Michael Avenatti's coffee chain
(DBN)

Friendly's closes 23 locations Friendly's chain to close 14 restaurants in five states Friendly's Closings: How healthy trend may have hurt restaurant Closings part of Friendly's effort to 'reinvigorate' iconic brand
(DBN)

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New Bankruptcy Opinions
(1 new opinion 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 (10 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:

March Commercial Chapter 11 Filings Decrease 44% Y/Y; Q1 Down 6%
(DBN)

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Bankruptcy Reform:

Summary of Selected Recommendations by ABI’s Commission on Consumer Bankruptcy
(DBN)

Grassley, Bipartisan Colleagues Introduce Legislation to Help Small Businesses Restructure Debt
(DBN)

Proposed Legislation Would Prohibit Payment of Bonuses by a Debtor to Certain Employees
(DBN)

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Trustees:

The Ohio Supreme Court has publicly reprimanded a highly-experienced bankruptcy trustee who had failed to properly supervise a thieving employee
(DBN)

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Make-Whole:

SDNY Bankruptcy Court Enforces Make-whole Premiums
(DBN)

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Bankruptcy Policy:

Creditor Rights, Threat of Liquidation, and the Labour-Capital Choice of Firms
(DBN)

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Advisors:

McKinsey Broke the Rules, Now It Wants to Rewrite Them
(DBN)

One Man vs. McKinsey: A Billionaire Says the Consultancy Has Rigged the Bankruptcy System
(DBN)

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Consignments:

An Unresolved Issue at the Intersection of Consignment and Bankruptcy Law Decided
(DBN)

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Distressed Investing:

Notice of Appearance - Gregory Segall, Chairman and CEO of Versa Capital Management LLC
(DBN)

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Autos:

Tesla and Panasonic reportedly freeze spending on $4.5 billion Gigafactory
(DBN)

As Automakers' Problems Mount, Will Mergers Come To The Rescue?
(DBN)

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Tax:

Lawmakers Just Confronted the IRS Over Tax Audits That Target the Poor
(DBN)

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Gambling:

The Missing Millions: Some States Are Still Waiting for the Gambling Windfall
(DBN)

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Student Debt:

2020 Democrats want to overhaul a student-loan forgiveness program for public servants New bill would end ‘bureaucratic nightmare’ for Public Service Loan Forgiveness program
(DBN)

Student Loan Debt Could Affect Your Job in 13 States
(DBN)

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Pharma:

Insulin makers grilled on price surges
(DBN)

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Electricity:

California wildfires: Seeking solutions to a wicked problem California aims to find towns that may be the next Paradise
(DBN)

Governor to release report on wildfires, utility bankruptcy
(DBN)

PG&E appoints Nora Mead as board chair
(DBN)

Bankrupt FirstEnergy Solutions spends millions on bailout campaigns in Ohio and Pennsylvania
(DBN)

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UK:

Britain's hardcore Brexiteers want to sabotage EU British Prime Minister Theresa May faces Brexit rebellion over new exit delay Brexit extension: Markets 'fear change in government' Brexit deadline extension: Business reacts Brexiteer to Irish backstop: a handy Brexit glossary Brexit has been so traumatic that lawmakers are getting counseling
(DBN)

Middle class at risk as social mobility slows
(DBN)

New energy companies face tougher tests to reduce failures Ofgem: New rules to stop energy suppliers going bust
(DBN)

Interserve outsource firm accounts investigated
(DBN)

Details emerge of furniture maker's collapse
(DBN)

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EU:

The EU restructuring directive: so nearly there!
(DBN)

'Best is over' for Europe but there's no crisis, head of bailout fund says
(DBN)

UBS chairman: Europe is running out of economic policy options
(DBN)

Draghi strikes glum economic tone amid ‘persistent uncertainties’
(DBN)

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Canada:

When a bankrupt oil and gas producer’s creditors came knocking, this B.C. farm got caught in the crossfire
(DBN)

Short Sellers Wait and Wait and Wait for Canadian Banks to Sink
(DBN)

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Venezuela:

Venezuela's economic situation continues to worsen
(DBN)

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India:

India's 'Lehman moment' seems closer than ever as top mutual funds defer dues to investors
(DBN)

India's bankruptcy delays lift bidders' funding tab
(DBN)

Jet Airways cancels international flights, grounds more planes Indian airline Jet Airways grounds all international flights as money woes grow As Jet Airways Fleet Stays Grounded, DGCA Asks Other Airlines To Enhance Flight Availability The fate of Jet Airways hangs in the balance Etihad makes dramatic U-turn with intention to raise stake in ailing Jet Airways
(DBN)

Arcelor's $6 Billion Essar Deal Stymied by Fight Between Lenders
(DBN)

Valuation In The New Regime Under The Companies Act
(DBN)

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Switzerland:

New rules for reorganizing financially distressed companies
(DBN)

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China:

Bankrupt China 'teapot' refinery plans restart after bailout -sources
(DBN)

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New Zealand:

An Alternative to Bankruptcy
(DBN)

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South Korea:

Creditors Reject Kumho Asiana's Self-Rescue Plan
(DBN)

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Australia:

Prove it or lose it: Court allows appeal on rejected proofs calling company liquidation into question
(DBN)

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Brazil:

Brazil airport to ban Avianca Brasil flights unless it resumes payments
(DBN)

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MENA:

Restructuring in Turkey: A new paradigm?
(DBN)

Top Abraaj executives arrested on U.S. fraud charges SEC files fraud suit against shuttered private equity firm Abraaj
(DBN)

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