May 3, 2019

The Daily Bankruptcy News

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Law:

Clifford Chance Aims to Scrap Billable Hours to Measure Performance Clifford Chance excludes billable hours from bonus criteria
(DBN)

Attorneys Beware: Federal Court Reinstates Aiding and Abetting Breach of Fiduciary Duty Claim Against Law Firm
(DBN)

John Bae Joins Thompson Hine’s Restructuring Practice in New York
(DBN)

 

Marketers Should Help Steer Law Firms' Strategic Planning Processes
(DBN)

Freshfields partner denies unwanted contact with drunk associate
(DBN)

Someone Did Get to Look at Trump's Tax Returns: Deutsche Bankers
(DBN)

Document Storage Vendor Sues Greenspoon Marder for $471K
(DBN)

Hedging Against Recession, DLA Piper Bets on Data and Tech Programs
(DBN)

Lawyer filmed beating female staff in extraordinary footage
(DBN)

In the wake of harassment case, Harvard report finds ‘prolonged institutional failure’
(DBN)

Dems Threaten Barr with Contempt Order White House Counsel's Letter to AG Barr Is Nancy Pelosi greasing the skids for impeachment ... of Barr? Congress Should Send Bill Barr to Jail Is There a Perjury Case Against Barr? The Catastrophic Performance of Bill Barr Democrats are debating whether to hold Attorney General Barr in contempt of Congress, one of the most severe congressional actions. Here's what such a historic move could mean William Barr Has Reached That Point Where House Dems Explore 'All of the Options' Napolitano: AG Barr is Full of It The Dangerous Ideas of Bill Barr Why people wanted believe William Barr Pelosi accuses Barr of the crime of lying to Congress Top House Republican says he agrees President Trump was subject to a 'coup' attempt Chris Wallace of Fox News slaps his network for ‘pushing a political agenda’ on the Mueller letter On Attorney General William Barr’s testimony and the coming constitutional crisis
(DBN)

'This is all. It's done': Trump doesn’t want former White House counsel Don McGahn to testify before Congress
(DBN)

NYT: FBI sent undercover investigator in 2016 to ask Papadopoulos about Russia
(DBN)

US sends asylum seekers to Mexico while awaiting ruling, in some cases ignoring protocols Lawsuit seeks to block Barr's order denying bail to asylum seekers
(DBN)

Judge: Man can recover money from neo-Nazi website founder
(DBN)

Anti-Semitism Is Thriving in America
(DBN)

Senators say Trump admin. minimizing white supremacist terrorism
(DBN)

Dealing with the Shock of an Evangelical Terrorist
(DBN)

Sexual assaults in the military spiked nearly 38 percent last year, Pentagon says
(DBN)

Firm hunts 'disgusting' toilet terrorist
(DBN)

Bonkers Law Firm Website: Get perspective
(DBN)

A teen girl was coerced into sex and held in a dog cage. Her captor will serve no prison time
(DBN)

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Judges:

 

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Wall Street:

Stock-index futures edge higher ahead of April jobs report
(DBN)

US stocks close lower but well off the lows
(DBN)

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Layoffs:

Fisker Auto's Ch. 11 WARN Fight May Go To Trial, Judge Says
(DBN)

Hayneedle lays off over 230 employees at two locations
(DBN)

Credit company gives state notice of 150 Akron layoffs of former Signet workers
(DBN)

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Politics:

A decades-old feud over bankruptcy reform looms over Biden and Warren in 2020
(DBN)

Make Elizabeth Warren Hate Again
(DBN)

California targets Trump in bid requiring 2020 hopefuls to release tax returns A California bill aims to keep Trump off the 2020 primary ballot unless he releases at least 5 years of his tax returns
(DBN)

Trump’s Biden Plan? It Could Get Dirty Don't be fooled: Joe Biden is no friend of unions Joe Biden's past praise for Dick Cheney is suddenly getting attention one week into his 2020 campaign
(DBN)

Pelosi escalates attacks on Trump, compares him with Nixon, as Barr's defiance angers Dems Democrats fear Barr, you can smell it Nancy Pelosi rejects impeaching Trump, calls it 'the easy way out'
(DBN)

Liberal activists drive Democratic Party
(DBN)

Senate doesn't override Trump's veto of resolution demanding end to US involvement in Yemen
(DBN)

The Democratic Debate Over Winning Back Trump's Base
(DBN)

The 2020 U.S. Presidential Race: A Cheat Sheet
(DBN)

John Bolton on the Warpath
(DBN)

Top GOP Break with Trump on Infrastructure
(DBN)

Wallace Rips Fox's Hosts for Making Things Up
(DBN)

Firefighter Union Leader on Trump's Attack
(DBN)

The Slip That Revealed the Real Trump Doctrine
(DBN)

Baltimore Mayor Resigns Under a Cloud
(DBN)

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Healthcare:

Billionaire unveils fund to defend people from medical-debt collectors
(DBN)

CareTrust picks up 12 Senior Care Centers nursing homes
(DBN)

Not everyone likes their employer health coverage
(DBN)

Insiders describe aggressive growth tactics at uBiome, health start-up raided by the FBI last week
(DBN)

U.S. trade deals have had mixed results for pharmaceuticals
(DBN)

Trump touts new faith-based protections for health-care workers at National Day of Prayer ceremony
(DBN)

Drug resistance could kill 10M people per year by 2050, experts say
(DBN)

A US warship hit hard by the mumps is finally virus-free after being quarantined at sea for months
(DBN)

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Food/Beverage:

Kona Grill files for bankruptcy after firing the CEO and accusing him of driving the restaurant chain into the ground
(DBN)

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Aviation:

Etihad's Airline Investments: A Sea Of Red Ink
(DBN)

Air France loss widens on fuel costs, competition
(DBN)

Many Human Errors Brought Down 737 Max
(DBN)

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Service Dogs:

In 'lawless' world of service dogs, many families suffer
(DBN)

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Fraud:

San Diego-Based Investment Adviser Charged with Running a Ponzi Scheme
(DBN)

How Bono’s Investment Partner Got Busted in the College-Admissions Scandal
(DBN)

Admissions Scandal: When ‘Hard Work’ (Plus $6.5 Million) Helps Get You Into Stanford
(DBN)

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Gambling:

Silver Point-Controlled Macao Casino Investors Hit Ch. 11
(DBN)

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Museums:

Evergreen Aviation & Space Museum expects to soar on despite real estate sales
(DBN)

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Economy:

Service Sector Brings April Credit Managers’ Index Up, Manufacturing Slumps
(DBN)

Weekly Initial Unemployment Claims at 230,000
(DBN)

Americans’ living standards are at an all-time high. Here’s proof
(DBN)

Why Wages Are Finally Rising, 10 Years After the Recession
(DBN)

Moore, Trump's choice for Fed seat, bows out amid scrutiny of past remarks Moore bails as Trump's Fed pick hours after 'i'm all in' pledge Trump to Moore: Got Your Back. Dumps Him Why Stephen Moore’s Fed Bid Failed Stephen Moore Went Down for Wrong Thing
(DBN)

The market’s reaction to this one word from the Fed’s Powell shows investors should be careful Powell delivers blow to bond market’s rate-cut bets
(DBN)

Trailblazing stock-market bull says investors need to ‘get into their heads’ that time of ‘monetary policy providing nothing but stimulus is over’
(DBN)

Goldman: April Payrolls Preview April Employment Preview Wall Street forecasts fusillade of 200,000-plus new jobs in April. Here’s what to watch The jobs report might be incredibly strong for an unusual reason Hiring was likely strong in April, but the market is still braced for a surprise
(DBN)

Ray Dalio says adoption of unorthodox monetary policy is ‘inevitable’
(DBN)

Is U.S. economic growth on a sugar high, a nutritious diet, or both?
(DBN)

FactCheck: Millions of families spend the bulk of income on housing
(DBN)

Temptation to ‘game the system’ could derail US-China trade deal, says former American official
(DBN)

Foxconn CEO meets with Wisconsin governor after recommitting to controversial factory
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Mortgage rates tumble as one economist waves the white flag
(DBN)

Serious Delinquency Rates on Single Family Mortgages Continue to Decline in March
(DBN)

Mortgage rates pull back on weak inflation data
(DBN)

‘Your interracial family is not welcome here’
(DBN)

America’s teachers can’t afford housing and this is why
(DBN)

Homeowners are staying put, just not for as long as before
(DBN)

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Municipalities:

Puerto Rico Board's $1 Billion Lawsuit Escalates Bond Feud
(DBN)

Puerto Rico Seeks to Have $9 Billion in Debt Ruled Unconstitutional
(DBN)

Puerto Rico board hits Wall Street banks, bondholders with lawsuits
(DBN)

Puerto Rican Governor Ricardo Rosselló testifies in Congress
(DBN)

Warren unveils plan to restructure Puerto Rico debt
(DBN)

Bondholders Beware? First Circuit Ruling’s Potential Adverse Impact on Puerto Rico’s Long-Term Restructuring Prospects
(DBN)

US Lawmakers Review Control Board's Role
(DBN)

Restructuring support agreement may cut Puerto Rico utility’s debt by 30%
(DBN)

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Oil/Gas:

Gas prices near $3 in these states as US average hits 2019 high
(DBN)

Fram drilling announces bankruptcy
(DBN)

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Football:

Bankruptcy trustee wants $1.9 million from AAF's bank
(DBN)

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Electricity:

PG&E profits shrink due to costs linked to wildfires, bankruptcy case As Bankruptcy Drags On, PG&E Loses Value Bankrupt PG&E Rises on First-Quarter Earnings Beat
(DBN)

PG&E Spent $127 Million on Bankruptcy Costs, Fees in Two Months
(DBN)

PG&E Says S.E.C. Is Investigating Its Wildfire Disclosures PG&E says SEC investigating it for disclosures, losses for wildfires
(DBN)

'Critical Principles' At Stake in California Wildfire Reaction, Edison CEO Says
(DBN)

FERC Reaffirms Concurrent Jurisdiction Over PPAs in Bankruptcy FERC Denies PG&E Rehearing over Contracts Dispute
(DBN)

Camp Fire: Paradise in recovery, six months later
(DBN)

Many electric utilities are struggling – will more go bankrupt?
(DBN)

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Disaster Recovery:

Private Equity-Backed Sungard Availability Files for Bankruptcy Private equity ‘vultures’ surrender bankrupt Philly-area tech firm to hedge fund 'bottom dwellers’ PE-backed Sungard to change hands after record-time bankruptcy filing – report
(DBN)

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Environmental:

Bankruptcy judge backs Exide in claims fight with regulator
(DBN)

Data now shows that children born around Superfund sites have dramatically higher rates of birth defects, dramatically higher rates of autism"
(DBN)

As Air Pollution Increases In Some US Cities, The Trump Administration Is Weakening Clean Air Regulations
(DBN)

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Student Debt:

I paid off all my student loans. I still support student loan forgiveness.
(DBN)

McKinsey hired to review federal student loan program
(DBN)

For education today, betting your income tomorrow
(DBN)

Seniors owe billions in student loan debt: "This will follow me to the grave"
(DBN)

Millennials struggle under the burden of student loan debt
(DBN)

99% Of Borrowers Rejected Again For Student Loan Forgiveness
(DBN)

Student loan debt crisis spans generations
(DBN)

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Maritime:

China Is a Dying European Shipbuilder’s Last Hope
(DBN)

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Guns:

Rifle builder Adams Arms sold to its creditor
(DBN)

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Retailing:

Neiman Marcus Is Working With Lazard for Sale of MyTheresa
(DBN)

New York private equity group leads $800M refi for Sears
(DBN)

How to Avoid Being Victim to the Retail Apocalypse
(DBN)

Newell Brands stock rallies after adjusted profit beats expectations, as Toys 'R' Us headwind wanes
(DBN)

Modell's taps real estate adviser to negotiate leases
(DBN)

More than 6,200 stores are closing in 2019 as the retail apocalypse drags on — here's the full list
(DBN)

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Textiles:

Robert Allen Duralee has new owner
(DBN)

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Radio:

As Music Radio Struggles To Survive, IHeartMedia Plans An IPO
(DBN)

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Construction:

Construction firm reaches $42M settlement for FIU bridge collapse
(DBN)

Mears top shareholder seeks to place two nominees to board
(DBN)

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Television:

Netflix Has a Cancellation Problem
(DBN)

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Entertainment:

Harvey Weinstein fictionalized in new play by author who witnessed downfall
(DBN)

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New Bankruptcy Opinions
(6 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (40 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (12 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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UCC:

Fifth Circuit Resolves Multi-State Perfection Puzzle
(DBN)

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Avoidance Actions:

A Narrow Reading of, and Refusal to Extend, Granfinanciera and Stern – Bankruptcy Courts May Enter Final Judgments in Fraudulent Transfer Actions against Defendants Who Have Not Filed Proofs of Claim
(DBN)

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Safe Harbors:

Getting Away With Corporate Raiding: A New In re Tribune Opinion and § 546(e) Safe Harbor
(DBN)

Safe Harbor Re-Opened? SDNY Revisits Merit Management
(DBN)

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Indemnity:

Chancery Interprets Contractual Indemnification Clause
(DBN)

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Mass Torts:

How USA Gymnastics Aided in Larry Nassar’s Abuse
(DBN)

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UST:

Indiana U.S. bankruptcy trustee appointed as interim trustee in region including Georgia
(DBN)

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Coal:

Cloud Peak gets additional reprieve
(DBN)

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Marijuana:

Ninth Circuit Gives A Partial Green Light to Cannabis Company Bankruptcies Ninth Circuit Backs Bankruptcy Plan for Company With Marijuana Ties
(DBN)

How a freshly grown cannabis company managed to lose $500 million in less than a month
(DBN)

Carol Whitmire worked at Walmart for 8 years, then her employer discovered she used medical marijuana
(DBN)

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Personal Finance:

What Number of Kids Makes Parents Happiest?
(DBN)

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Hotels:

Hotels: Occupancy Rate Decreased Year-over-year
(DBN)

____________

Tech:

Facebook purges right-wing provocateurs, other ‘dangerous’ accounts
(DBN)

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Autos:

BEA: April Vehicles Sales decline to 16.4 Million SAAR
(DBN)

Tesla is finally raising capital — and it's about time Elon Musk owes $507 million to banks helping Tesla raise capital Elon Musk to investors: Self-driving will make Tesla a $500 billion company
(DBN)

____________

Crypto:

Ex-NFL Owner Is Said to Have Ties to $850 Million Crypto Mystery
(DBN)

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Pharma:

Drug Exec Convicted in Opioid Case
(DBN)

Insys founder, former execs face decades in jail after being found guilty in landmark opioid case
(DBN)

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Travel:

15 things I learned about air travel after traveling the world for a year
(DBN)

I never pay for checked bags because this backpack-duffel hybrid can hold nearly 2 weeks' worth of clothes
(DBN)

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Resins:

Hexion Inc. Receives Final Approval to Access Full $700 Million in DIP Financing
(DBN)

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Climate:

Sierra Snowpack Was 188% of Average
(DBN)

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Religion:

Archdiocese: Proposed sale for former Accion Hotel down to about $5.3M
(DBN)

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UK:

Relief from forfeiture – in the balance
(DBN)

Cash-strapped Bolton are £41.6m in the red and on brink of administration Laurence Bassini's proposed takeover of Bolton Wanderers off as he misses deadline to prove he has the money
(DBN)

Sir Philip Green promises £100m to help save Arcadia
(DBN)

Brexit is Killing the Special Relationship
(DBN)

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Canada:

Comparison between Canadian and American post-filing obligations Recent developments questioning the protection and scope of post-filing obligations Not paid today and may not be paid tomorrow: Developments in post-filing obligations of CCAA debtors Protections for CCAA Model orders
(DBN)

Bankrupt oil companies are saddling Alberta landowners with ‘orphan wells’ Insolvent oil and gas producer leaves behind $329M bill to clean up 4,700 wells Trident Exploration walks away from 4,700 wells, cites ‘treacherous environment’ for investors Energy company’s bankruptcy may show lenders viewing industry differently: CAPP
(DBN)

Future of Parq Vancouver casino uncertain due to massive financing debt
(DBN)

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MENA:

Abraaj founder Naqiv granted bail by UK court
(DBN)

A wounded warrior returns to Iraq as a US senator - and comes back with a warning
(DBN)

Persecution of Christians Across Middle East
(DBN)

Kushner: 2 State Solution Hinders Peace
(DBN)

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India:

No bidders yet for Jet Airways, staff consider bankruptcy proceedings Representatives of employees' consortium discuss Jet Airways bid with SBI Cap officials
(DBN)

IBBI streamlines insolvency professional’s ‘temporary surrender’ process
(DBN)

Willful defaulters must not be allowed to buy back their assets
(DBN)

Huge gap in 12 NPA cases dues with liquidation value: IBBI
(DBN)

Anil Ambani needs $2 billion in asset sales to save last bastion
(DBN)

India: Cash, booze, gold and democracy
(DBN)

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Brazil:

Brazil airline Azul could bid for Avianca Brasil's assets after all
(DBN)

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Venezuela:

Venezuelan opposition left exposed after plot unravels
(DBN)

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