January 7, 2020

The Daily Bankruptcy News

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Law:

Law Firm Merger Trend Continues In 2020
(DBN)

Smaller Deals Mark Another Big Year for Law Firm Mergers
(DBN)

Bernstein Shur Names New Bankruptcy Partner
(DBN)

Blank Rome Announces New Bankruptcy Partner, Of Counsel
(DBN)

Dorsey Adds Bankruptcy Attorney in Palo Alto
(DBN)

The Practice Areas Poised To Thrive In An Economic Downturn
(DBN)

‘Fundamental shift’ is transforming the delivery of legal services, new report concludes
(DBN)

'Revolutionary Changes' Coming to Legal Industry, Report Finds
(DBN)

Despite Growth, Report Warns Market Shifting for Law Firms
(DBN)

6 Flaster Greenberg partners, including bankruptcy department chairman, leave to form new firm
(DBN)

Think Law School Is Expensive? Well, There Are A Lot Of Discounts Out There.
(DBN)

Polsinelli Inks Deal With UnitedLex for Litigation Support Center Polsinelli Launches New Litigation Support Center with UnitedLex
(DBN)

Trump Declares DC A Sanctuary City, At Least When It Comes To His Own Sexual Assault Defamation Suit
(DBN)

Will Lawyer David Boies Be a Witness in Harvey Weinstein's Sex Crimes Trial? Judge Rejects Request to Sequester Jury Weinstein Charged with New Sex Crimes in LA Weinstein Charged With Rape in L.A. While Facing N.Y. Trial Harvey Weinstein’s Attorney Says Timing of New Charges in Los Angeles Is ‘Very Suspect’ Harvey Weinstein Trial Begins Weinstein Attorney Says Sheer Number Of Accusers Actually Good For Him Because It’s Fun To Say Silly Things Weinstein Accuser Criticizes Defense Lawyer for 'Disgusting Way' of Treating Sexual Assault Survivors Weinstein Prosecution and Defense Argue over Lawyer’s ‘Degrading’ Statement About Witness As Harvey Weinstein's criminal trial begins, here are the people who tried to protect him and what they have to say for themselves now Harvey Weinstein's criminal trial is starting, but we survivors have already made him pay First Day of Weinstein Trial Erupts in Insults
(DBN)

Avenatti Must Face Two Nike Extortion Charges, Judge Rules
(DBN)

The Key Detail That Makes It ‘Almost Impossible’ to Determine How Jeffrey Epstein Died
(DBN)

6 ways to stop overthinking everything, according to a psychotherapist People who second-guess themselves make worse decisions, study finds
(DBN)

Mother of Missing Children Allegedly Believed She Was a 'God' -- Here's What We Know
(DBN)

Driver Shoots 2 Kids for Throwing Snowballs
(DBN)

Burglar Broke into Man’s Home on Christmas Eve and Sucked His Toes, Deputies Say
(DBN)

IKEA to pay $46 million for death of child in furniture tip-over
(DBN)

Two kids are missing. Now police are looking at a string of family deaths and allegations of a doomsday 'cult.'
(DBN)

US Stops Iranian Americans from Reentry American border officials detained dozens of people with ties to Iran at the US-Canada border amid escalating tensions, civil-rights group says Inslee calls reports of U.S.-Iranian citizens being held at border alarming CBP Denies Detaining Iranian-Americans and Refusing Them Entry into U.S.
(DBN)

A woman stole an exchange student's hijab and tried to choke her with it, prosecutors say
(DBN)

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Judges:

2nd Cir. Seeks Bankruptcy Judges In SD NY And ED NY Application for Position Of Manhattan Bankruptcy Judgeship
(DBN)

BK CD CA: Strategic Plan: 2020-2024
(DBN)

Divided Appeals Panel Slaps Federal Judge for Allowing Jury Nullification Defense
(DBN)

Reception to honor Judge Marci B. McIvor on her retirement from the US Bankruptcy Court for the Eastern District of Michigan
(DBN)

Over 200 federal lawmakers urge SCOTUS to reconsider Roe; DOJ takes narrower stance
(DBN)

Chief Justice Roberts praises Merrick Garland in report with ‘timely subtext’
(DBN)

Lawyers, Uninterrupted, Adjust to Supreme Court Two-Minute Rule
(DBN)

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Wall Street:

US stock markets pause as Middle East fears recede
(DBN)

Stocks end higher, posting biggest intraday comeback in 3 months
(DBN)

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Layoffs:

Pier 1 Imports to Close Up to 450 Stores and Cut Jobs Pier 1 Imports weighs bankruptcy, plans 40% cut to headquarters staff
(DBN)

SoftBank-backed Zume Pizza to lay off up to 80% of its staff
(DBN)

Former AgMedica employees share same status as company's creditors
(DBN)

Russell Stover parent company announces 300 layoffs
(DBN)

Hallmark Cards Inc. plans to cut nearly 400 jobs
(DBN)

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Dairy:

Dairy Giant Borden Files for Bankruptcy Protection Borden Dairy files for Chapter 11 protection Elsie Goes Bankrupt Borden Dairy Is The Second Milk Seller To Declare Bankruptcy In Nearly Two Months Borden Dairy files for bankruptcy amid debt load, headwinds facing milk producers Curdling Dairy Industry Sends Borden Into Ch. 11 In Del.
(DBN)

US dairy industry suffering as Americans consume less milk
(DBN)

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Food/Beverage:

Report: Fairway Market readies another Chapter 11 filing
(DBN)

Restaurant behind 'best burger in America' files for bankruptcy
(DBN)

Creditors ask Bumble Bee bankruptcy judge to hire firm 'to maximize recoveries'
(DBN)

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Crypto:

Lawyers Confidently Proclaim Cryptocurrencies Non-Securities. Perhaps Too Confidently.
(DBN)

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Coal:

The Coal Industry Is In Serious Trouble
(DBN)

The bankruptcy that rocked Wyoming coal country in 2019
(DBN)

Is PRB coal headed for gradual decline or sheer cliff?
(DBN)

Ousted Blackjewel CEO Hoops seeks more than $20 million
(DBN)

Wyoming’s pro-coal D.C. Republicans need a lesson in economics
(DBN)

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Magazines:

The staff of Sports Illustrated, its newsroom 'gutted,' is planning to unionize
(DBN)

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Religion:

Bishop Suggests Bankruptcy’s A ‘Probability’ For Diocese Of Buffalo
(DBN)

Christianity and Bankruptcy
(DBN)

The fight tearing apart a Virginia Buddhist temple: A monk arrested, worshipers banned from their parents' graves and a questionable loan
(DBN)

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Student Debt:

Bankruptcy Judge Denies Relief to Student Debtor Who Provides 24/7 Care for Elderly Mother: What’s the Friggin’ Point?
(DBN)

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Banking:

Few Banks Failed Last Year – Is That a Problem?
(DBN)

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Fraud:

Lori Loughlin Hired a Prison Consultant to Help Her Prepare ‘for the Worst,’ Report Says
(DBN)

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Maritime:

Seaspan and Swiber terminate $200m investment deal
(DBN)

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Economy:

Even If Trump Had Gotten Herman Cain and Stephen Moore On The Fed It Wouldn’t Matter
(DBN)

China keeps grain import quotas unchanged despite promise to buy more American, report says Trade War is Making Lobbyists Rich 'Approximately 100%' of tariff costs have fallen onto Americans, new research shows
(DBN)

France vows to retaliate against latest Trump tariffs on wine and cheese
(DBN)

Recession fears are the top concern for health CEOs globally as we enter 2020
(DBN)

Finland's new millennial leader wants her country to have a 4-day workweek. Here's why the widely beloved schedule would never work in the US.
(DBN)

How Jack Kemp Rewrote the Urban Poverty Playbook
(DBN)

The State That Americans Are Fleeing in Droves-and Where They're Winding Up
(DBN)

War with Iran threatens U.S. economy
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Framing Lumber Prices Up Year-over-year
(DBN)

Office Vacancy Rate unchanged in Q4 at 16.8%
(DBN)

Here's how many homes were built in the last decade
(DBN)

How Big a Home Can You Afford? A Surprising Price per Square Foot Tour Across America
(DBN)

What a U.S.-Iran war would mean for mortgage rates
(DBN)

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Municipalities:

A New Year’s Resolution For The U.S. Department Of Commerce: Just Do Something In Puerto Rico
(DBN)

Buttigieg Bundler Is an Executive at Vulture Fund Holding Puerto Rican Debt
(DBN)

2 U.S. cities are not prepared for a recession, Moody's finds
(DBN)

Best-run cities in America
(DBN)

Shallow quake of magnitude 6.5 strikes off Puerto Rico
(DBN)

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Oil/Gas:

Energy co. eyes total divestment for hundreds of millions of dollars, plans subsidiary's bankruptcy
(DBN)

Bankrupt Alta Mesa Gets $310MM Bid
(DBN)

Creditors of Bankrupt Oil Driller Allege Fraud, Want CEO Out
(DBN)

Creditor vigorously opposes Premier’s plans to extend debt maturity and acquire assets from BP, Dana
(DBN)

Chevron Pulls Oil Workers from Iraq
(DBN)

This Isn't Your Father's Oil and Gas Rig Count
(DBN)

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Gig Economy:

Uber's secret project to bolster its case against AB5, California's gig-worker law
(DBN)

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Personal Finance:

My husband and I just wrote our will and chose 2 friends as our kids' guardians. Here's why we didn't pick a family member.
(DBN)

The 15 best US cities if you're looking to work from home and be your own boss in 2020
(DBN)

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Climate:

Australia wildfires: NSW police arrest 24 arson suspects Nearly 200 Arrested For Deliberately Starting Blazes
(DBN)

Australia Fires Threaten to Upend Way People Live
(DBN)

Australia's apocalyptic fires are a warning to the world
(DBN)

A country in flames: Australian bushfires in pictures
(DBN)

California Eyes Climate Bond to Prepare For Disasters
(DBN)

U.S. greenhouse gas emissions fell slightly in 2019
(DBN)

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E-Cigarettes:

California proposes sweeping ban on all flavored vape products
(DBN)

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Retailing:

Pier 1 Is Closing Half Of Its Stores; Is Bankruptcy Next? Pier 1 cuts staff and weighs bankruptcy plan; stock plunges Pier 1 to close stores and cut jobs, raises going concern doubts Pier 1 plans to close 450 stores and fire hundreds of employees as the company struggles to stay afloat
(DBN)

A new high of over 9,300 stores closed in the US in 2019, almost double the number that closed in 2018
(DBN)

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Trucking:

Celadon granted final court approval to pay $4.6M to drivers; $900k for contractors
(DBN)

EPA says it will pursue new rule to cut pollution from heavy-duty trucks
(DBN)

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Healthcare:

Former Fast 50 company files for bankruptcy protection
(DBN)

St. Vincent Hospital teeters on closure after sale falls apart Verity Health System Announces Closure of St. Vincent Medical Center in Los Angeles
(DBN)

Every American family basically pays an $8,000 'poll tax' under the U.S. health system, top economists say
(DBN)

M&A Doesn’t Help: Hospitals Edition
(DBN)

24 percent of young adults may have prediabetes in U.S., study shows
(DBN)

US High Cost of Health Care Administration
(DBN)

Sweet Home employees claim they are still waiting on a paycheck
(DBN)

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Politics:

Fox News legal analyst says Dems should reopen impeachment inquiry — and possibly add new charges against Trump Bolton Is Willing to Testify in Trump’s Impeachment Trial Behind Bolton's decision Bolton’s Offer to Give Impeachment Testimony Catches Congress, White House By Surprise John Bolton Puts the Ball in Mitch McConnell’s Court Bolton says he is prepared to testify in Senate trial if subpoenaed Key GOP senators don't want to subpoena Bolton What they're saying: Romney, Collins respond to Bolton's offer to testify John Bolton Has Magnanimously Concluded That He’s Willing To Follow The Law John Bolton May Have Teed Up Another Excuse Not to Testify at Impeachment Trial Democrats: Pelosi’s Delay Strategy Vindicated by John Bolton’s Willingness to Testify Small cracks have appeared in GOP unity on impeachment trial
(DBN)

Trump's decision to kill Iranian Gen. Soleimani was a mistake that will make Americans and the world less safe Former US ambassador who was hostage during 1979 Iran crisis said he wants 'nothing to do' with Trump's threats toward Tehran Trump and Democrats see political benefits to U.S. killing of Iranian military leader GOP unlikely to support constraining Trump on Iran in wake of Soleimani killing Pelosi Forces GOP Hand w/ War Resolution
(DBN)

Why Trump should fear Sanders much more than Warren in 2020
(DBN)

Senators 'block' nomination of Trump pick for U.S. attorney in western Mich.
(DBN)

Trump not keeping up with intelligence briefings despite assassinating Iranian general and threatening military action
(DBN)

Pompeo tells McConnell he won't run for Kansas Senate seat
(DBN)

Why Texas Doesn't Want to Count All Texans
(DBN)

Ethics Breach? GOP Congressman Could Be in Trouble After Sharing Doctored Obama Photo
(DBN)

Three ways the next 28 days could reset the Democratic primary
(DBN)

Texas Back in Voting Rights Hot Water
(DBN)

Chelsea Clinton's $9 Million Payday
(DBN)

Julián Castro endorses Elizabeth Warren for president
(DBN)

Civil War medical museum prepares to amputate Confederate flag from logo
(DBN)

Disinformation For Hire: Selling Lies Online
(DBN)

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Mass Torts:

Unique sex-abuse suit filed against Boy Scouts in US capital Lawyers representing 1,500 men sue on behalf of 8 former Boy Scouts for alleged abuse, ‘cover-up’
(DBN)

Prominent Mass Tort Attorney, 47, Killed
(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 (29 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:

Total Bankruptcy Filings Register Slight Increase in Calendar Year 2019; First Year-Over-Year Increase in Eight Years
(DBN)

BK SD MS: Updated Filing Statistics
(DBN)

Hawaii bankruptcies hit record-high numbers in 2019
(DBN)

Weekly Bankruptcy Claims Trading Activity
(DBN)

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Third Party Releases:

Third Circuit Holds Bankruptcy Courts May Constitutionally Confirm a Chapter 11 Plan Containing Nonconsensual Third-Party Releases
(DBN)

SEC Says Insys 3rd-Party Releases Should Be Opt-In
(DBN)

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Subordination:

Inequitable Subordination: Distressing Distressed Purchasers by Propagating Subordination Benefit Elimination Theory
(DBN)

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Avoidance Actions:

First Circuit Puts Universities at Risk for Claw Back of Tuition Payments
(DBN)

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Advisors:

MACCO Restructuring Expands to Delaware, Names New Hires
(DBN)

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Tax:

IRS Personal Income-Tax Audits Drop to Lowest Level in Decades
(DBN)

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Discharge:

Attorney Must Face $300K Child Porn Judgment, 6th Circ. Says
(DBN)

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SCOTUS:

Justices will decide whether res judicata includes “defense preclusion”
(DBN)

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Utilities:

Jurisdiction Over Rejection of Power Purchase Agreements—Confusion Continues
(DBN)

Sixth Circuit Considers Rejection of a Filed Power Purchase Agreement
(DBN)

Sixth Circuit Rules in Chapter 11 Reorganizations
(DBN)

Structural Effects of Climate Change on the Utility Business
(DBN)

How One Hedge Fund Is Banking on a Big Comeback for PG&E
(DBN)

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Autos:

BEA: December Vehicles Sales decreased to 16.7 Million SAAR
(DBN)

The Changing Mix of Light Vehicle Sales
(DBN)

Low Rates, Cheap Gas and Deeper Debt Sustain Car Buying Boom
(DBN)

China could be the ‘swing factor’ for Tesla’s stock as Model 3 cars roll out to Chinese consumers Elon Musk says will design a future Tesla car in China for global market
(DBN)

Aston Martin Issues Profit Warning Aston Martin's troubles mount as profits slump by 45%
(DBN)

Bankrupt Tate's pays 139K to lawyers, advisors
(DBN)

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Aviation:

American Airlines and Boeing reach settlement for 737 Max-related losses American Airlines will share $30 million portion of Boeing settlement with employees, thanks to the drama surrounding the grounded 737 Max
(DBN)

MDC board approves deal with spaceport prospect
(DBN)

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Telecoms:

Charter Fights Ruling It Engaged in Windstream Customer Poaching
(DBN)

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UK:

Dean Beale appointed Chief Executive of the Insolvency Service
(DBN)

Creditors to lose £80m owed by Jamie Oliver’s restaurant chain
(DBN)

Bankrupt Katie Price’s pink Range Rover fails to sell for £60k months after she vomited in it
(DBN)

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MENA:

In photos: Tens of thousands mourn slain general in Iran Iran General’s Wake Brings Deadly Stampede and Calls for Revenge 32 Killed in Stampede at Soleimani's Funeral In Iran, crowds at Soleimani's funeral call for revenge Trump claims tweet counts as Congress notification about Iran Trump tests Congress' war powers with strike against Iran Why Iran's Qassem Soleimani was on a not-so-secret trip to Iraq when he was assassinated Ripples from Soleimani strike will be felt for years to come Pentagon chief on targeting cultural sites: "We will follow the laws of armed conflict" Trump officials are bending over backward to say he didn't threaten to commit a war crime after he repeatedly threatened to commit a war crime Boris Johnson will not back Trump's threat of targeting Iran's cultural sites The disturbing history behind Trump's threat to target Iranian cultural sites Pompeo falsely claims Trump did not say he’d go after Iranian cultural sites Pentagon scrambles: "There's been no decision to leave Iraq" US military says letter announcing Iraq withdrawal was a mistake: ‘This is not what’s happening’ Iran-Backed Foreign Terrorist Org ‘First Released’ U.S. Letter Indicating Troop Withdrawal from Iraq: Report How the world’s most important oil chokepoint could factor into escalating US-Iran tensions Iran’s proxy allies may retaliate against the US on Tehran’s behalf, former ambassador says Shaky Justification for Soleimani Killing Saudi Envoy Arrives in DC Amid Fear of War Lieberman: Soleimani's Death Made Us Safer Trump Admin Denies Iran Foreign Minister's Visa to Attend U.N. Security Council Meeting Top US allies are abandoning Trump and warning ISIS will benefit following the assassination of an Iranian general Ann Coulter: ‘We Thought Trump Was Different’ About Starting Wars Some Officials Questioned Killing Soleimani Yes, Soleimani was an enemy. That doesn't mean Trump made the right call. Khamenei Wants to Put Iran’s Stamp on Reprisal for U.S. Killing of Top General For Trump, the Burden May Be Proving This Is Not the Moment His Critics Predicted The best and worst that can happen between the United States and Iran Trump administration drafting possible sanctions against Iraq Donald Trump Jr. poses with rifle decorated with a cross used during the Crusades Forget Soleimani. Iran Has Still Won the Battle for Iraq
(DBN)

A Saudi family feud, a decade-long debt saga and a court's $14 billion decision
(DBN)

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Japan:

Carlos Ghosn’s $350,000 getaway flight Arrest Warrant Issued in Japan for Wife of Fugitive Ex-Nissan Chairman Ghosn
(DBN)

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China:

Shanghai courts improve contract enforcement, bankruptcy management
(DBN)

China’s opaque Caribbean trail: Dreams, deals and debt
(DBN)

China Needs More Than Just Rules to Tackle Bond Defaults
(DBN)

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India:

Liquidation process: Secured creditor cannot sell assets to entities ineligible for insolvency plan
(DBN)

South America's Synergy Group submits fresh EoI for bankrupt Indian carrier Jet Airways
(DBN)

Rare debt recast among India’s shadow banks may see 49% haircut
(DBN)

Revised bankruptcy norms aim to further filter out ex-promoters, defaulters
(DBN)

Bankruptcy board notifies IBC amendments; here are the new norms for creditors, liquidators
(DBN)

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Venezuela:

Venezuela's opposition vows to retake National Assembly after lockout
(DBN)

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Mexico:

More than 60,000 Mexicans have been 'disappeared' amid drug war, officials say
(DBN)

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Kenya:

Nakumatt falls after creditors vote for liquidation
(DBN)

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Australia:

One of Australia's biggest pet companies announces it's gone broke
(DBN)

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