May 14, 2019

The Daily Bankruptcy News

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Law:

More Evidence That Biglaw Equity Partners Really Are A Dying Breed
(DBN)

MoFo Settles Texas Suit Over Billing Practices
(DBN)

Why Did Skadden Hire Paul Manafort’s Daughter? The Government Has A Theory • Skadden Keeps Mum Over Claims It Bowed To Pressure To Hire Manafort's Daughter
(DBN)

Legal Services Demand Drops in First Quarter of 2019 • Law Firms See Warning Signs of Slower Growth in 2019
(DBN)

Law Firm Revenue Is Up Because We’re Just Making People Pay More For Less
(DBN)

The Biggest Of All Biglaw Firms In The United States (2018)
(DBN)

How To Be A Crappy Partner, Redux
(DBN)

The Legal Profession's Very Real Impact on Personal Relationships
(DBN)

Lawyers Are Uniquely Challenging Audience for Anti-Bias Training
(DBN)

Teva Chief Legal Officer Seeks to Reduce Outside Counsel Spend
(DBN)

Accused of ‘Terrorism’ for Putting Legal Materials Online
(DBN)

Harvard Law School Makes Right Call To Oust Dean For Repping Harvey Weinstein • The Damage That Harvard Has Done
(DBN)

Prominent Law School Professor Resigns After Title IX Misconduct Investigation
(DBN)

Kim Kardashian Laments The Amount Of Reading Required For Law School
(DBN)

Kim Kardashian says when it comes to Trump, prisoners 'don't care who signs that clemency paper'
(DBN)

Trump says voters don’t care about his tax returns and offers 2016 election as proof
(DBN)

Navy Seal's Lawyers Had Emails Tracked
(DBN)

Prosecutors say Rick Gates is still cooperating, may testify in Roger Stone trial • Trump is Gunning for Another FBI Director • US confirms Rick Gates' cooperation in pending Roger Stone, Gregory Craig trials • Barr picks U.S. attorney to review Mueller investigation origins • Lindsey Graham says Donald Trump Jr. should plead the 5th in Senate investigation • Trump urges judge not to fast-track his lawsuit over House subpoena • Judge to Rule on Trump Subpoena Challenge
(DBN)

Robert Kraft Proves There is No Equal Justice in America
(DBN)

Steve Bannon Sought Alliance with FBI in 2017
(DBN)

Omarosa requests to join lawsuit alleging women were underpaid by Trump campaign
(DBN)

Houston Immigration Lawyer Charged in Massive Marriage Fraud Sting • The Pentagon is reportedly shifting funds from ballistic missile and surveillance plane programs to fund Trump's border wall • Federal authorities arrest dozens over alleged US immigration scam that offered fake marriages for $70,000
(DBN)

Trump officials discussed deporting families • Nielsen Stopped Plan for Mass Family Arrests • 2 key Homeland Security officials pushed back on a plan to arrest thousands of migrants in New York, Chicago, and Los Angeles before they were pushed out • Before Trump's purge at DHS, top officials challenged plan for mass family arrests • Pentagon considers new request for assistance at border • Feds: Immigration top US crime, one-third of all sentencings
(DBN)

Rosenstein defends handling of Mueller probe; criticizes Comey as 'partisan pundit'
(DBN)

The payouts to families of Boeing 737 Max victims could depend on whether and how long they knew they were about to die, lawyers say
(DBN)

Unusual Plan to Get 900-pound Man to Virginia Court is Approved by Judge
(DBN)

Tiger Woods named in lawsuit after restaurant employee dies in car crash
(DBN)

Armed gang posed as single women on Tinder to lure men — then allegedly beat and robbed them at gunpoint
(DBN)

Federal agencies are spending millions to hack into locked phones
(DBN)

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Judges:

Supreme Court dismisses four-decade-old precedent in ruling one state cannot be unwillingly sued in another’s courts • "Stare decisis be damned" - Supreme Court Turns Its Back On 40 Years Of Precedent • Harbinger? - SCOTUS overrules precedent in state immunity case; Breyer wonders what cases are next to fall • Court's conservatives overturn precedent; liberals ask 'which cases the court will overrule next'
(DBN)

Kavanaugh joins with liberals in letting iPhone users sue Apple for alleged monopolistic app prices
(DBN)

Should judges be able to avoid ethics probes with departure? Issue raised in Kavanaugh appeal
(DBN)

Last-minute execution decisions expose wide and bitter rift at Supreme Court • Justices spar over death penalty
(DBN)

Justice Stevens: The Supreme Court’s Worst Decision of My Tenure
(DBN)

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Wall Street:

US stock futures point to bounce on heels of trade-related selloff
(DBN)

Stocks close sharply lower as an escalating trade war with China rattles markets; Nasdaq sinks 3.4%, worst drop of year • Dow Ends Day Down 618 Points
(DBN)

Dow tanks as trade war escalates – four experts weigh in
(DBN)

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Layoffs:

Former employee at Chesterfield-based Live Well Financial files federal lawsuit seeking lost wages
(DBN)

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Retailing:

Bed Bath & Beyond CEO steps down weeks after activist investors release a brutal presentation slamming company's leadership
(DBN)

Facing pressure on one-day shipping, Amazon offers its workers $10K to quit their jobs — and start their own delivery services
(DBN)

Walmart to offer free next-day shipping, beginning this week
(DBN)

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Tech:

The Supreme Court just ruled against Apple in an antitrust case centered around the App Store • Supreme Court lets App Store monopoly suit go forward • Apple's Supreme Court loss sends antitrust shockwaves through Silicon Valley
(DBN)

Facebook raising pay and support services for thousands of contractors and content moderators
(DBN)

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Fiduciary Duty:

Financial advisers may be forced to look out for clients again
(DBN)

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Pharma:

Opioid maker Insys plunges on warning of possible bankruptcy
(DBN)

Stocks of generic drug companies fall after more than 40 states file suit alleging price fixing • States Allege Price-Fixing Conspiracy In Suit Against Generic Drugmakers
(DBN)

Most of the profit in the health-care industry is going to drug companies — here’s why you should care
(DBN)

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Personal Finance:

It could take you 521 months to build up emergency savings in NYC
(DBN)

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Newspapers:

Huntsman lays out how the Tribune's move to a non-profit may work
(DBN)

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Student Debt:

U.S. Stepping Up Enforcement on Delinquent Student Loans
(DBN)

Elizabeth Warren: Cancel Student Loans In Bankruptcy
(DBN)

John Ninfo: More on how to minimize student loan debt
(DBN)

Trump wants $1.6 billion for a moon mission and proposes to get it from college aid
(DBN)

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Mass Torts:

Talc Plaintiffs Begin Fighting Mass Removal in Wake of Imerys Bankruptcy
(DBN)

Monsanto Hit with $2B in Punitives in Oakland Roundup Trial
(DBN)

Gymnasts testify; lawmakers won't name abuse bill lobbyists
(DBN)

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Celebs:

Inside Doris Day's wild life: Four husbands, bankruptcy and hating her own TV show
(DBN)

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Banking:

Creditors of First NBC Bank sue former executives, general counsel
(DBN)

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Coal:

Cloud Peak Energy Is Liquidating In Ch.11 Bankruptcy
(DBN)

Future of workers uncertain as third-biggest US coal company declares bankruptcy - Coal's decline is hitting workers first and worst
(DBN)

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Trucking:

$75 million jury award for driver “meant to send message”
(DBN)

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Economy:

Chart: US Families Still Struggling
(DBN)

Chipping Away at Social Security Benefits
(DBN)

Here's how much money you'd need to be considered wealthy in America
(DBN)

China trade war risks thousands of chemical industry jobs, billions of dollars • Trump Trade War Just Raised Taxes On Consumers By Tens Of Billions of Dollars • How Trump Thinks Tariffs Work (And How They Actually Work) • ‘No end in sight' for farmers feeling pain of Trump's trade war • Fed’s Neel Kashkari says US is ‘in a very strong position’ in escalating trade war with China • Trump says China’s paying for the tariffs, but here’s who is really getting pinched • Who is Trump's Trade War Really For? • Trump’s threatened tariffs ‘would likely lead’ to a ‘recession’, says Morgan Stanley’s Wilson • China fires back at the US with higher tariffs on thousands of American products • China’s ‘self-destructive nuclear option’ in trade war: Selling US Treasury bonds • 4 reasons why China won’t use ‘nuclear option’ of selling Treasurys to retaliate against U.S. • These are the biggest Dow losers since the trade war escalated and they tell a pretty clear story • China's Tariffs Could Make Trade War Worst • Higher Chinese tariffs just made your home renovation much more expensive • From tequila to TV cameras — here is a list of US goods China is targeting with a 25% tariff • Trump to China President Xi: ‘You backed out!’ • Fed’s Rosengren says economy can ‘withstand’ trade fight with China • China’s yuan on track for worst day in nearly 4 years as trade war escalates • Trump’s escalating trade war with China could wipe out benefits from his tax reform • Washington and Wall Street wake up to the reality that Beijing is happy to walk away • Stocks are on pace for their worst day of 2019 as U.S.-China tariff battle escalates • Wall Street realizes the trade war is real • Trump's go-it-alone approach on trade, immigration poses economic risks
(DBN)

Lighthizer Bungled New NAFTA 2.0
(DBN)

Larry Kudlow Goes On TV To Make It As Clear As Possible That He Doesn’t Want To Work In This White House Anymore
(DBN)

Kamala Harris says Trump was right on NAFTA and that she wouldn't have voted for the trade deal
(DBN)

LA area Port Traffic Down Year-over-year in April
(DBN)

The dark reason so many Millennials are miserable and broke
(DBN)

The cost of being a working mother? $18,000 a year, study says
(DBN)

Salary transparency helps close the gender pay gap, but also has a nasty side effect
(DBN)

Why the gender pay gap persists and what we can do about it
(DBN)

Trends in Educational Attainment in the U.S. Labor Force
(DBN)

Three decades of neoliberal policies have decimated the middle class, our economy, and our democracy
(DBN)

Facebook to raise minimum wage for contract workers in Seattle to $18/hour • We don't need a one-size-fits-all federal minimum wage
(DBN)

Moms are major contributors to their families’ bottom lines, but our public policy hasn’t caught up
(DBN)

Chart: How many people of each age live in U.S. cities
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Why the decline in homeownership is bad for Americans
(DBN)

"Lowest Mortgage Rates in More Than a Month"
(DBN)

Higher Chinese tariffs just made your home renovation much more expensive
(DBN)

A Toll brother’s student-housing bet goes bust in Pa., as falling enrollment squeezes dorm landlords nationwide
(DBN)

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Municipalities:

Civil organizations warn of Puerto Rico utility’s debt restructuring support agreement
(DBN)

McConnell seeking to use disaster aid bill to give crop insurance to hemp farmers
(DBN)

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Oil/Gas:

Oil and gas giant Weatherford to restructure through Chapter 11
(DBN)

Trident Exploration's demise leaves county holding the bag
(DBN)

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Autos:

Long fight over error in JPMorgan loan to GM settles for $231 million
(DBN)

Tesla tumbles to its lowest level since January 2017
(DBN)

With Carlos Ghosn out of picture, questions loom for Nissan amid falling sales and profits
(DBN)

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Politics:

Trump’s Bankruptcies: A Further Hypothetical
(DBN)

Warren pledges to name a former public school teacher as education secretary
(DBN)

President Trump's takeover of Fourth of July is all about his obsession with crowd count
(DBN)

Russia Has Americans’ Weaknesses All Figured Out
(DBN)

Jim Mattis reportedly called H.R. McMaster an 'unstable a------' when he didn't know McMaster was still on the phone
(DBN)

Democrats' fear: 2020 race killing chances to win Senate
(DBN)

Focus group: Trump supporters like liberal proposals but still love Trump
(DBN)

US Allies Dread Visits from Pompeo • Pompeo crashes Brussels meeting of EU diplomats for Iran talks
(DBN)

Inside the 33-year marriage of Mike Pence, who calls his wife 'mother' and refuses to dine with other women
(DBN)

Alabama abortion bill's restrictions weigh on Republicans ahead of vote
(DBN)

Trump joins GOP criticism of Rep. Tlaib over remarks on Holocaust, Israel • Dems say Trump, GOP, twisting Tlaib's Holocaust remarks
(DBN)

Trouble aheads for Biden campaign because of Anita Hill
(DBN)

Texas Removed the Most Confederate Statues
(DBN)

Trump Takes Credit for Red Sox Turnaround
(DBN)

Our Imperial Presidency
(DBN)

Beto Hired Who???
(DBN)

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Climate:

Earth's carbon dioxide level slips past another ominous milestone
(DBN)

Major flooding in the South is a cautionary tale for all homeowners
(DBN)

'You idiots': Bill Nye's fiery message to leaders stalling on climate change
(DBN)

Business in the Age of Mass Extinction
(DBN)

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Crypto:

QuadrigaCX Bankruptcy Report Reveals Exchange Owes $150M • Investigation of QuadrigaCX cryptocurrency debacle turns up $28 million in assets
(DBN)

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Fraud:

Felicity Huffman Pleads Guilty in Scandal • Will Felicity Huffman get prison time for her role in college admissions scandal?
(DBN)

Jumia ‘stands by’ prospectus after Citron’s Andrew Left slams company as a ‘fraud’ and ‘worthless’
(DBN)

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Religion:

The Catholic Church Finally Establishes A Law On How To Handle Abuse Claims
(DBN)

Connecticut Mosque Fire Was Arson
(DBN)

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Entertainment:

Ron Burkle's Company Wants to Bring Lantern Execs Into Fraud Lawsuit
(DBN)

Luc Besson's film studio gets six-month reprieve as losses mount
(DBN)

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Horse Racing:

Jockey's suspension prolongs never-ending Derby story
(DBN)

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Distressed Investing:

Leveraged-Loan Investors Can’t Feign Gullibility
(DBN)

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Newspapers:

After 52 Years, The Current Newspapers Are Shutting Down
(DBN)

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Soccer:

Bolton Wanderers to start League One with 12-point deduction • Stricken Bolton face points deduction next season after going into administration
(DBN)

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New Bankruptcy Opinions
(9 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (26 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (1 new filing 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)

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Bankruptcy Reform:

Farm Bureau & Farmers Union unite on bankruptcy bill
(DBN)

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UCC:

Disrupting Secured Transactions: Should UCC Article 9 Be Revised to Reflect the Rise of the Internet of Things?
(DBN)

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Involuntary Bankruptcy:

First Circuit Rejects “Special Circumstances” Exception to Numerosity Requirement of Bankruptcy Code Section 303(B)(1)
(DBN)

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CDS:

"If the business did well, the lenders were paid back on time and made money. So they wanted the company to succeed. Not anymore" • US loan market seeks to block CDS manipulation
(DBN)

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Avoidance Actions:

Sweet Defense: The Eleventh Circuit Rules Ice Cream Maker’s New Value Not Need to Remain Unpaid to be Valid Preference Defense
(DBN)

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Cross-Border:

Cross-Border Insolvency: English High Court Ruling Impacts Delaware Chapter 11 Case
(DBN)

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Electricity:

More Trouble Ahead For PG&E
(DBN)

PG&E proposes court order for CEO, board to tour town destroyed by wildfire
(DBN)

PG&E Oversight Battle Looms for FERC, Bankruptcy Court
(DBN)

PG&E plan to cut power on windy days could leave millions in the dark
(DBN)

If SF wants its own power system, it's going to cost the city billions • San Francisco May Make PG&E a Multibillion-Dollar Offer in Weeks
(DBN)

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Agribusiness:

Tom Cotton Tells Farmers to Quit Whining
(DBN)

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Taxis:

Uber is tanking after logging the biggest first-day dollar loss in US IPO history • Uber plunges again -- now about 17% below IPO price • Why Uber may still be worth $100 billion-plus even after its embarrassing IPO
(DBN)

Lyft hits yet another low as rival Uber sputters in its 2nd day of trading
(DBN)

Uber and Lyft drivers reveal the things you should never do while taking a ride
(DBN)

Cars from ride-hailing apps like Uber and Lyft are dirtier than taxis, rentals, and even toilet seats, according to a study that collected bacteria from 9 vehicles
(DBN)

Uber's first employee, who's now a billionaire, credits his success to this 1 tweet
(DBN)

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Healthcare:

Duties and Obligations of Ombudsmen in Healthcare Bankruptcies – Public Safety Comes First
(DBN)

Health Care Fraud Investigations and Litigation Offer Unexpected Lessons for Bankruptcy Counsel
(DBN)

Baptist Healthcare absorbs physician group from shuttered hospital
(DBN)

There are over 800 cases of measles in the U.S. already this year — the most in more than 25 years • New York measles outbreaks worsen, bringing nationwide total to 839 cases so far this year, CDC says
(DBN)

Democrats press Trump administration for documents on lawsuit to dismantle health-care law
(DBN)

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Non-Profits:

ADAMH to seek new East Side partner after indebted agency’s bankruptcy
(DBN)

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UK:

An 'admin error' wrongly made Conservative MPs expect a big Brexit vote this week
(DBN)

HMRC, preferential treatment and insolvency – uncertain times for funders
(DBN)

Growing insolvency practice says Brexit is causing supply chain distress
(DBN)

Creditors approve Cotswold Outdoor owner's CVA
(DBN)

UK court recognizes Singapore law for debt restructuring
(DBN)

A false rumor on WhatsApp started a run on a London bank
(DBN)

A British Town’s Novel Solution to Austerity
(DBN)

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EU:

New tax developments for insolvency and restructuring deals
(DBN)

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PIIGS:

Greece: Creditors said to be examining blocking early IMF loan payment
(DBN)

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Canada:

Bankruptcy rates on the rise in Alberta
(DBN)

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Brazil:

Azul proposes fresh bid for Avianca Brazil assets
(DBN)

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MENA:

Iran Facing All Out War with US • Report links vast online disinformation campaign to Iran • EU Worries Accident Can Start War with Iran • Debating Sending 120,000 Troops to Mideast • Pompeo Shares Iran Intel with EU
(DBN)

Two Saudi oil tankers attacked in the Persian Gulf amid rising Iran tensions • Satellite Images: No Major Damage to "Sabotaged" Ships
(DBN)

Goldman Sachs bought Commerzbank's claim in Saudi's biggest debt saga: sources
(DBN)

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Australia:

Ferraris, dodgy deals and debts: meet the swindler taking the top end of town for a ride
(DBN)

ASIC liquidator push turns up the heat on Diamond Joe Gutnick
(DBN)

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India:

India Inc in 2030: Debt won't be a bad word
(DBN)

Avoiding the fraud trap when buying distressed assets
(DBN)

A question of balance, via the code or otherwise
(DBN)

The rise of India’s new billionaires and the fall of the old
(DBN)

Small borrowers to get debt relief under new personal bankruptcy scheme • Why government wants to lend a hand to small borrowers
(DBN)

Jet Airways' CEO, CFO resign from the board
(DBN)

Air India Refutes Reports of Airline Being on the Verge of Bankruptcy
(DBN)

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Brazil:

Brazil telecoms firm Oi's profit soars as interest expenses shrink
(DBN)

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Venezuela:

Inside the secret plot to turn senior Venezuelan officials against Maduro
(DBN)

Protesters holed up at Venezuelan embassy have received an eviction notice
(DBN)

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