December 4, 2020

The Daily Bankruptcy News

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Law:

Turns Out ‘Special Bonuses’ Are Just Money From COVID Salary Cuts At This Biglaw Firm
(DBN)

White & Case Showers Associates With Cash In Year-End Bonus Announcement
(DBN)

Ready… Aim… Bonuses!
(DBN)

Top 25 Biglaw Firm Gives Out More Money (On Top Of Year-End And Special Bonuses)
(DBN)

Top 50 Am Law Firm Announces Bountiful Bonus Bucks For Associates
(DBN)

Kramer Levin Names New Bankruptcy Partner
(DBN)

According to the most recent census data, the legal profession has the largest gender pay gap of any occupation
(DBN)

Boies Schiller Restructuring Continues With New Deputy Chair
(DBN)

Remote working leads to redundancies at Pinsent Masons and Dentons
(DBN)

Slaughter and May continues salary freeze
(DBN)

Williams & Connolly lawyer finds and thanks grade school teacher who made a difference in her life
(DBN)

Dear Santa: Here’s A Wish List For A Better Bar Exam
(DBN)

Hofstra Law’s Judge Gail Prudenti On Pandemic Safety And The Future Of Legal Education
(DBN)

Firms Will Continue to 'Clean House' Next Year, Lawyers Included
(DBN)

Law Firm Merger Talks 'Frenetic,' With Deals on the Horizon
(DBN)

UK: Glamorous Solicitor 2020: Round One
(DBN)

Lawsuit accuses lawyer and his ‘Real Housewives’ wife of stealing plane crash settlement funds
(DBN)

N.Y. Lawyers Must Withdraw if Covid Creates Unwaivable Conflict
(DBN)

DOJ: Prosecutor erred by promising to confer with Jeffrey Epstein victims Prosecutor to Jeffrey Epstein victims: I'm sorry deal labeled you as prostitutes
(DBN)

Prosecutors want prison for ex-FBI attorney who altered email in FISA process
(DBN)

NYT Asked Jenna Ellis’s Colleagues About Her Legal Chops. She Got Flayed Trump Campaign’s Self-Proclaimed ‘Constitutional Law Attorney’ Has Almost No Relevant Experience How Jenna Ellis Rose From Traffic Court to Trump’s Legal Team
(DBN)

Trump's former national security advisor shared a message asking the president to suspend the Constitution, impose martial law, and hold a new election
(DBN)

Republican senators urge Trump to dodge pardon controversies Trump pardon scandal would doom his 2024 campaign Trump Mulls Preemptive Pardons for Up to 20
(DBN)

Trump hits Barr over voter fraud remarks: 'He hasn't looked' Trump rebukes Barr, complains AG ‘hasn’t done anything’ with baseless fraud claims
(DBN)

'Ask me that in a number of weeks': Trump refuses to say if he has confidence in Attorney General Bill Barr
(DBN)

Biden, Harris Vow to Keep Their Justice Department Independent
(DBN)

Cornyn: Trump Hasn't Shown Any Fraud
(DBN)

Detroit Revs Engine of Moral Indignation in Bid to Hold Trump Allies Accountable for ‘Frivolous’ Suits and ‘Lies’
(DBN)

Trump Has Already Rewarded Ally Who Was Banned from DOJ for Trying to Dig Up Info on Ongoing Election Matters
(DBN)

Wisconsin Supreme Court turns away Trump election lawsuit
(DBN)

AZ: GOP Lawsuit to Undo Election Goes to Trial
(DBN)

Trump loves to win but keeps losing election lawsuits
(DBN)

Trump's Trainwreck of a Witness Trump's newest star witness to 'voter fraud' who claimed she saw Dominion systems being rigged was on probation for computer crime after plea deal to drop 'obscenity' charge
(DBN)

Pro-Trump legal crusade peppered with bizarre blunders
(DBN)

Pennsylvania Supreme Court Tersely Declines to Help GOP Lawmaker Block His Own Election Win
(DBN)

Florida Lawyer Under Felony Investigation for Telling Fellow Republicans to Commit Voter Fraud in Georgia Senate Runoffs
(DBN)

Democrats File Bar Complaint Against Trump Campaign Lawyer for 'Blatant Threat'
(DBN)

Gingrich: 'Lin Wood and Sidney Powell are totally destructive'
(DBN)

Sidney Powell and Lin Wood File Midnight Brief Asking Appeals Court to Decertify Presidential Election
(DBN)

Nevada Judge Tosses Losing GOP Candidate's Lawsuit, Which Sought to 'Void' Democratic State Senator's Win and Re-Do Election
(DBN)

Roger Stone Says North Korean Boats Delivered Ballots Through Maine Harbor As Trump Boosts Fraud Claims
(DBN)

Supreme Court sees new requests for religious COVID-19 carve-outs SCOTUS wants lower court review of California church restrictions Supreme Court Orders New Look at California Worship-Service Limits
(DBN)

Houses of Worship Shouldn’t Be Treated Like Bars or Gyms
(DBN)

California politicians skewered for social crimes in the age of coronavirus
(DBN)

Supreme Court Sides with California Churches That Cited Photo of Gov. Newsom Dining Indoors During Pandemic
(DBN)

Kentucky religious school defies Covid mandate, court ruling by continuing in-person class
(DBN)

Why that Supreme Court religious rights decision was about Georgia
(DBN)

Ghislaine Maxwell to Seek Bail in Private Hearing—Despite Flight Risk Warning Maxwell Judge Says New Bail Hearing Must Be Held in Public
(DBN)

Kyle Rittenhouse Loses Round in Court, Must Stand Trial on Murder and Other Charges
(DBN)

Two Men Charged with Terrorism in Alleged Plot to Kidnap Gov. Whitmer Were Released from Jail
(DBN)

Defiant Colorado restaurant owner fights to stay open: 'It’s about the right to survive'
(DBN)

Trump’s New Citizenship Test Is Full of Conservative Bias—And Dotted With Mistakes
(DBN)

Lawyer’s ‘pants are charred’ from lies, state supreme court says; prior panties accusation made headlines
(DBN)

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Judges:

The country’s oldest sitting federal judge, described as ‘deeply compassionate,’ dies at 99
(DBN)

Chemerinsky: COVID-19 ruling reveals much about the new Supreme Court
(DBN)

Judge Decides He Won’t Resentence His Friend’s Son’s Former Hedge Fund Colleague
(DBN)

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Wall Street:

Stock futures rise ahead of November jobs report
(DBN)

World shares reaching peaks, dollar in trough
(DBN)

Nasdaq hits record high, S&P 500 ends lower
(DBN)

Biden’s White House Team Delights His Fans on Wall Street
(DBN)

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Layoffs:

Southwest warns 6,800 employees on potential furloughs in ‘sad milestone’
(DBN)

3M to cut 2,900 jobs, take charge of up to US$300 million 3M to cut 2,900 jobs in restructuring
(DBN)

Express reduces corporate headcount by 10%, again
(DBN)

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Healthcare:

Hospital ‘Air Pocket’ Pops With Elective Surgeries Back on Hold
(DBN)

LRGH reorganization may take longer than planned LRGH bankruptcy tangled by new bidders, finances
(DBN)

As Hospitalizations Surge, Ballooning Medical Debt a Concern
(DBN)

Find Your Place in the Vaccine Line
(DBN)

US reports 3,100 COVID-19 deaths in one day, surpassing previous record by 20 percent
(DBN)

As 3,000 more US coronavirus deaths were reported, with 100,000 Americans hospitalized, the president remained fixated on an election he lost a month ago
(DBN)

As hospitals get slammed, overwhelmed doctors plead to governors for help
(DBN)

Pandemic is pushing America's 911 system to breaking point, ambulance operators say
(DBN)

Christmas Should Be 'Postponed' to Avoid Record Number of Americans Dying
(DBN)

Biden to ask Americans to wear masks for 100 days
(DBN)

NYC Plans Pandemic Response Center as Positivity Rate Tops 5%
(DBN)

Covid’s Sun-Belt Return Targets Miami, Phoenix and Las Vegas
(DBN)

DeSantis doubles down on Trump-backed coronavirus approach
(DBN)

Fauci to meet with Biden team for first time Thursday
(DBN)

Bill Gates on pandemic: By spring 2021 ‘we’ll be headed back to normal’
(DBN)

Dr. Gottlieb: ‘Hopeful’ there will be adequate Covid-19 vaccine supply in 2021
(DBN)

Intent to Get a COVID-19 Vaccine Rises to 60% as Confidence in R&D Process Increases
(DBN)

Pfizer Slashes New Covid Vaccine Output
(DBN)

Pasadena and Beverly Hills are pushing back against LA County's COVID-19 order by breaking with restrictions or talking about forming their own health department
(DBN)

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Autos:

US November Car Sales Fell, But That Doesn’t Reflect Underlying Trends
(DBN)

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Utilities:

PG&E rate hike aimed at improvements to ease fire risk
(DBN)

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Economy:

Weekly Initial Unemployment Claims decreased to 712,000 U.S. initial jobless claims fall for first time in three weeks
(DBN)

COVID-19 and job posting trends
(DBN)

ISM Services Index Decreased to 55.9% in November Service Industries in U.S. Expand at a More Moderate Pace
(DBN)

November Employment Preview
(DBN)

Goldman November Payrolls Preview
(DBN)

Krugman: Learn to Stop Worrying and Love Debt
(DBN)

Slowing job growth raises fears of double-dip recession U.S. expected to report slowest job growth in six months
(DBN)

Corporate America’s Cash Burn Problem Getting Worse
(DBN)

Covid’s legacy is a corporate debt mountain
(DBN)

U.S. Downtowns Yearn for Vaccine as Merchant Traffic Falls 70%
(DBN)

Katie Porter Uses Socratic Method To Accuse Steve Mnuchin Of ‘Play-Acting To Be A Lawyer’
(DBN)

Senate confirms Christopher Waller to Fed board Fed Adds a Dove Who Won’t Veer Because of Biden Christopher Waller confirmed as Federal Reserve governor; Judy Shelton nomination likely dead
(DBN)

What Janet Yellen Must Do
(DBN)

McConnell, Schumer spar as pressure grows for coronavirus deal Pelosi and McConnell resume talks as Congress rushes to strike a Covid stimulus deal Mitch McConnell Poured Cold Water on the $908 Billion Covid-19 Stimulus Plan, Arguing That Trump Would Veto It Trump says he will back coronavirus relief if Congress can reach deal More Senate Republicans signal openness to $908 billion relief package as pandemic spike worsens McConnell Calls for Congress to Focus on Narrow Stimulus Deal Stimulus Optimism Grows as GOP Lawmakers Warm to Bipartisan Plan Trump is holding out on supporting the $908 billion COVID-19 stimulus bill despite more lawmakers rallying round it
(DBN)

JPMorgan’s Jamie Dimon to Salesforce’s Marc Benioff: CEOs who urge more stimulus
(DBN)

There are too many ways to lose unemployment compensation
(DBN)

Unemployed: 'I don’t know what to do'
(DBN)

Give Americans a stimulus check by Christmas or small businesses will have an unhappy new year
(DBN)

Biden officially announces ex-Obama official Brian Deese as top economic adviser
(DBN)

Biden’s Economy Lesson From Trump Shows Solo Action Doesn’t Work
(DBN)

9.8 million working mothers in the U.S. are suffering from burnout
(DBN)

California to impose regional stay-at-home order, Gov. Newsom says
(DBN)

As stocks soar, government shutdown looms amid pandemic
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

U.S. Mortgage Rates Fall to a Record-Low 2.71% for 30-Year Loans
(DBN)

Fannie and Freddie need “significant capital” to leave conservatorship, Mnuchin says
(DBN)

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Municipalities:

Cities Whose October Unemployment Rates Are Bouncing Back Most
(DBN)

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Oil/Gas:

Bankruptcy Courts Contemplate Debtors' Rejection of Real Property Covenants in Midstream Contracts
(DBN)

Falling Shale Break-Even Costs May Not be Enough to Spur Rebound
(DBN)

The Death Of U.S. Shale Has Been Greatly Exaggerated
(DBN)

Chevron slashes long-term spending plan in wake of oil slump Chevron tightens belt again with billions in spending cuts
(DBN)

Oil field services company files for bankruptcy as PPP runs dry
(DBN)

The Oilfield Service Industry Will Never Truly Recover
(DBN)

EU Aims to Have 30 Million Electric Cars on the Road by 2030 Germany’s Electric-Car Market Is Poised to Overtake California’s
(DBN)

Volvo Brings Electric Semi to America
(DBN)

Denmark set to end all new oil and gas exploration
(DBN)

Shell CEO Hopeful Biden Will Speed Up Climate Change Fight
(DBN)

Many of Africa’s oil and gas companies in distress or battling with liquidity post-COVID-19
(DBN)

Scotland: Oil and gas sector in economic turmoil, says report
(DBN)

Russia Loses Bid to Halt Enforcement of Yukos $57 Billion Award
(DBN)

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Personal Finance:

I started my first job completely remote. Here's how I formed meaningful relationships with my coworkers and stood out when I didn't know anyone.
(DBN)

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Tech:

Trump doubles down on Section 230 repeal after GOP pushback
(DBN)

Facebook Will Take Down Misinformation About Covid Vaccines
(DBN)

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Cruise Lines:

Cruise stocks surge after Bank of America lifts price targets on vaccine hopes
(DBN)

Norwegian announces suspension of most cruises through March 2021
(DBN)

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Coal:

Two Coal Companies Bankrupted by Covid as Industry Slides Reeling U.S. Coal Industry Sends Two More Producers to Bankruptcy
(DBN)

Montana mine declares bankruptcy, lays off 76 employees
(DBN)

Motion filed to convert Blackjewel bankruptcy reorganization to liquidation Blackjewel Coal Moves To Liquidate, Leaving Millions Unpaid To Workers And Regulators
(DBN)

____________

Movie Theaters:

Warner Bros. will launch every 2021 movie on HBO Max at the same time they hit theaters
(DBN)

WarnerMedia CEO Jason Kilar doesn’t think he just destroyed the movie theater industry
(DBN)

WarnerMedia Follows The Money. 2021 Films Will Be On HBO Max Simultaneously - A Blow To Theaters
(DBN)

Warner Bros disrupts theater business with same-day streaming
(DBN)

Cinemark Responds to Warner's Movie Plan
(DBN)

Theater Chains Vexed by Warner Bros.’ Straight-to-Streaming Move
(DBN)

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Hotels:

Hotels: Occupancy Rate Declined 28.5% Year-over-year
(DBN)

Airbnb may take legal action against unauthorized New Year's Eve parties
(DBN)

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Sports:

NFL’s 2020 Season Has Teams at Extremes
(DBN)

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Banking:

Citi's Mistaken Payment Case Might Be In Wrong Court
(DBN)

Citigroup on track for trial over $900 million Revlon mistake
(DBN)

Credit Suisse Can Lose Nine Figures In All Sorts Of Ways
(DBN)

____________

Gig Economy:

Uber asks U.S. CDC to consider ride-hail drivers essential for COVID-19 vaccine distribution
(DBN)

____________

Retailing:

Francesca's files for Chapter 11 bankruptcy protection, plans to close 140 stores amid COVID-19 Francesca’s Files for Bankruptcy With Pandemic Toll Growing Francesca’s Files Voluntary Chapter 11 to Implement Sale
(DBN)

UPS drivers told not to pick up shipments from major retailers amid pandemic-fueled holiday surge: report
(DBN)

'Amazon's days of impunity are over': 400 international lawmakers including Ilhan Omar and Rashida Tlaib slam Jeff Bezos on wages, climate action, and taxes
(DBN)

Walmart announces new round of worker bonuses as COVID-19 cases spike Walmart to spend more than $700 million on new round of employee bonuses
(DBN)

Dollar stores thrive in pandemic, but hold back forecasts Pandemic tees up dollar stores for favorable post-crisis future
(DBN)

____________

Pharma:

On second try, Vivus nets reorganization plan approval
(DBN)

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Food/Beverage:

Fate of Chain Restaurants: Spring of Hope or Winter of Despair
(DBN)

TX: Waitress Gets Her $2,000 Tip in the End
(DBN)

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Religion:

Diocese announces $19 million payout for victims of sexual abuse
(DBN)

____________

Transit:

Federal Relief Proposals Aren’t Enough to Thwart Some of the Worst Transit Cuts
(DBN)

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Distressed Investing:

U.S. Junk Bond Yields Hit Record Low for Second Time This Year
(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 (14 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (90 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:

U.S. bankruptcies drop to 14-year low as coronavirus cases surge For the first time since February 2006, new U.S. bankruptcy filings fall below 35,000 November bankruptcies hit 14-year low with steep drop in personal filings
(DBN)

Jim Cramer: Are Bankruptcies Low? No! They're Soaring
(DBN)

The pandemic bankruptcy wave has been delayed, not avoided
(DBN)

BK WD NY: Updated Case Statistics
(DBN)

Amid Global Pandemic, Recession, Hawaii is on Pace for a Decrease in Bankruptcy Filings
(DBN)

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Bankruptcy Crimes:

Feds: Bridgeport man filed for bankruptcy, but didn't mention $100K life insurance check
(DBN)

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Conversion:

Bankruptcy Court Chooses Dismissal Over Conversion Based on the Support of the Debtor and All Key Creditors
(DBN)

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Advisors:

McKinsey Gives Up Millions in Fees to Settle Bankruptcy Probe U.S. Trustee Program Reaches Settlement with McKinsey and Company to Withdraw and Waive its Fees in the Westmoreland Coal Bankruptcy Case McKinsey waives millions in fees for work on Westmoreland Coal bankruptcy McKinsey Foregoes $8 Million in Bankruptcy Fees Under Government Settlement
(DBN)

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Bankruptcy Strategy:

What Are Owners Of A Closely-Held Business To Do, When Subchapter V Is Not Available?
(DBN)

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Miscellaneous:

AIRA Journal
(DBN)

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D&O:

Second Circuit Ruling Exposes D&Os to Exchange Act Claims Based on Biased Short-Seller Research
(DBN)

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Aviation:

U.S. airlines cut 29,000 workers through mid-October: Transportation Department
(DBN)

Southwest issues layoff warnings to 6,828 employees
(DBN)

UK: Quarantine rules to be relaxed for business travelers
(DBN)

Ryanair buys 75 Boeing MAX jets in largest order since grounding Ryanair CEO says he wants another Boeing order within 18 months Ryanair Chief Puts Rivals on Notice With Big Boeing Jet Purchase
(DBN)

Boeing’s Breakthrough Max Deal Signals Hope for Travel Rebound
(DBN)

United Airlines says will be first to receive 737 MAX delivery
(DBN)

Delta warns of slowing bookings, higher cash burn as Covid infections climb Delta Air Lines sees cash losses mounting as virus slows travel Delta Air expects daily cash burn of up to $14 million in fourth quarter
(DBN)

Direct flights are better for avoiding coronavirus, doctors say, unless they're long
(DBN)

Hawaii Couple Could Go to Jail for Boarding Flight After Being Told They Tested Positive for COVID-19
(DBN)

Even With Vaccines, Airport Testing Is Here For the Long Haul
(DBN)

I just flew on the first Boeing 737 Max passenger flight since the plane was grounded. The flaws that killed 346 people were the least of my concerns.
(DBN)

Norwegian Air aims to restructure, sell planes and shares in bid to survive
(DBN)

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Politics:

List of Republicans breaking with Trump grows longer
(DBN)

Biden: 'Several' Republican senators have privately acknowledged he won
(DBN)

Poll: Majority of voters say Trump has behaved poorly post-election
(DBN)

Trump admin to sell oil leases at Arctic wildlife refuge before Biden takes office
(DBN)

Despite veto threat, Congress presses ahead on defense bill
(DBN)

The Conspiracy Theory That Could Hand Joe Biden the Senate
(DBN)

MAGA Civil War Erupts in Georgia
(DBN)

Trump has raised millions in a bait-and-switch campaign promising to contest the 2020 election, but which will actually fund his post-presidential political machine
(DBN)

Ivanka Trump says she was deposed for 5 hours in inaugural spend probe. Here’s what she failed to mention What Ivanka Trump's Emails with Rick Gates Likely Reveal About Her Deposition Prosecutor Contradicts Ivanka on Hotel Claim
(DBN)

Kamala Harris Announces an All-Female Slate of Senior Staff Picks
(DBN)

Here Are the Threats Against Election Workers
(DBN)

Dozens of Trump Appointees Will be Staying
(DBN)

Biden Says He Hopes Trump Will Attend Inauguration for Symbolism
(DBN)

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Climate:

Bill Gates says the U.S. needs a federal agency to fight climate change
(DBN)

Blackouts, Fires Batter California Again as High Winds Rage
(DBN)

Where Climate Change Believers Live Where Climate Change Deniers Live
(DBN)

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Sovereigns:

IMF says talks with Argentina 'constructive', will continue in Washington
(DBN)

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UK:

Fauci: U.K. ‘really rushed through that approval’ of Pfizer vaccine Why Pfizer’s Covid vaccine has been authorized in the UK but not the U.S. yet Fauci Backtracks After Saying U.K. 'Rushed Through' COVID Vaccine
(DBN)

Where Topshop went wrong
(DBN)

London Has Lost Its Clout, Brexit Deal or No Brexit Deal
(DBN)

Brexit: 'Prospect of breakthrough receding' in UK-EU talks
(DBN)

France Would Veto Any Brexit Deal if Unsatisfactory: Minister
(DBN)

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EU:

Directors' Duties—A European Overview: Financial Distress and COVID-19
(DBN)

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PIIGS:

Spain’s Government Is Studying a Four-Day Work Week
(DBN)

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Canada:

Sigh of Relief for Commercial Landlords: Letters of Credit Unaffected by a Tenant’s Bankruptcy
(DBN)

Jobs recovery in Canada set to stall in final weeks of 2020
(DBN)

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China:

China State Firms Once Deemed ‘Safe’ Now Rocked by Defaults
(DBN)

U.S. Spy Chief Calls China Greatest Threat Since World War II
(DBN)

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Hong Kong:

To wind up or to restructure? How to deal with failing Mainland companies listed in Hong Kong
(DBN)

U.K. Grants Five Passports a Minute to Hongkongers as China Tightens Grip
(DBN)

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India:

Angry India Farmers Are ‘Ready to Die’ in Showdown With Modi
(DBN)

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Australia:

ASIC: Directors’ duties to prevent insolvent trading
(DBN)

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Brazil:

Brazil’s Recovery Misses Forecasts Ahead of Mounting Headwinds
(DBN)

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Sweden:

Sweden Shuts Upper Secondary Schools as Restrictions Escalate
(DBN)

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Mexico:

S&P confirms Mexico credit rating, keeps negative outlook
(DBN)

____________

Japan:

This 1020-year-old Japanese business is well-placed to see off a pandemic
(DBN)

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MENA:

UAE Bankruptcy Law: New amendments say “Blame it on COVID-19”
(DBN)

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Germany:

Germany extends US$37b backstop for credit insurers
(DBN)

German Factory Orders Surpassed Pre-Pandemic Levels in October
(DBN)

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