July 24, 2020

The Daily Bankruptcy News

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Law:

Almost Half Of Am Law 100 Firms Adopted Austerity Measures In 2020
(DBN)

Multiple Staff at Sullivan & Cromwell Laid Off, Sources Say
(DBN)

Scholarship Or Loan In Disguise? Law School Policy Has Experts Asking Questions
(DBN)

This Biglaw Firm Dominates In New York
(DBN)

Lawyer's 'Colorful Insults' Crossed a Line, 6th Circuit Panel Says • Opinion
(DBN)

Magic Circle partner pay hits £1.8m despite virus
(DBN)

Chicago Bar Task Force Recs Steer Clear of Outside Ownership in Law Firms
(DBN)

Law Firms Deferring First-Year Associates Eye Legal Aid Positions for Fall
(DBN)

Students demand refund for BPP's 'deeply unsatisfactory' virus response
(DBN)

More states cancel in-person bar exams, while another jurisdiction grants diploma privilege
(DBN)

Illinois and Ohio Move Bar Exam Online as Reciprocity Gains Traction
(DBN)

Biglaw Managing Partner Backs Diploma Privilege For Incoming Associates
(DBN)

Insurers Don’t Really Care if Big Law Lawyers Pass the Bar Exam
(DBN)

New Organization Seeks To Bring Lawsuits Against State Bar Examiners
(DBN)

Hawaii Offers Bar Applicants Nothing And Calls It A Gift
(DBN)

Arnold & Porter to Pay Civil Penalty for Discrimination in Doc Review Project
(DBN)

Partner fined for remark to gay summer associate
(DBN)

Firm which said working from home was for 'lemmings' suffers Covid outbreak
(DBN)

Should there be an Aspen Dental equivalent for lawyers? Task force backs rule changes
(DBN)

BigLaw firm sued over $3M wire transfer to fraudster’s account
(DBN)

'Lawyers for Trump' Organized to Drum Up Support, Ensure 'Election Integrity'
(DBN)

America’s Regulatory Ranks Have No Room For Black People, But Plenty For Judy Shelton
(DBN)

OIG to review "use of force" against protesters in Portland and D.C.
(DBN)

Judge Napolitano's Blistering Op-Ed on DHS Troops in Portland
(DBN)

Law Enforcement Officials Condemn Trump's Troops in Portland
(DBN)

Constitutional Scholars are Outraged
(DBN)

DOJ Inspector General Probes DHS Detentions in Portland and Trump's Lafayette Square Photo Op
(DBN)

'Kafkaesque': Portland Refuses Open Records Request to ID Officers — Because Request Didn't Include Names
(DBN)

Judge temporarily bars U.S. agents from arresting journalists, legal observers in Portland
(DBN)

Trump's 'Operation Legend' was supposed to combat crime. It's produced one arrest, and some see a political stunt.
(DBN)

Portland Mayor Known as 'Tear Gas Ted' Gets Tear-Gassed Himself By Federal Officers; Calls it 'Urban Warfare' • Portland mayor tear gassed by federal agents, booed by some protesters
(DBN)

ACLU lawsuit accuses police of attacking Portland volunteer medics
(DBN)

Trump announces "surge" of federal law enforcement to Chicago and Albuquerque
(DBN)

70-Year-Old Black Woman Allegedly Hurt During Arrest in Mississippi Town Whose Mayor Said George Floyd Could Breathe
(DBN)

Judge orders release of ex-Trump lawyer Michael Cohen, says book restriction was retaliation • Federal Judge Orders Michael Cohen's Release; Says His Arrest Was Retaliation For Tell-All Book
(DBN)

Federal Court Rules in Favor of Releasing Several Secret Epstein-Maxwell Documents
(DBN)

Typo gave away defendant’s faked death certificate; his lawyer says client duped him • Lawyers Discover Typo That Prevents Defendant From Faking His Own Death
(DBN)

D.C. Authorities Investigate the President and Trump Hotel For Flouting City’s Mask Requirement
(DBN)

Former congressman indicted on voter fraud, bribery charges
(DBN)

No Death Penalty for Man Who Allegedly Beat Girlfriend to Death over Joke About Text from Ex
(DBN)

Potential jurors exercised, curled up on bed during virtual voir dire, motion says in asbestos case
(DBN)

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Judges:

Senate Panel Advances Bankruptcy Judge For District Court Position
(DBN)

Federal Judge Does Not Take Kindly To Biglaw Firm Calling Him Names
(DBN)

Lawyer Arrested For Forging Judge’s Signature To Get Client’s Ankle Monitor Removed
(DBN)

When It Stops Being A Joke: Did We All Indulge Suspected Killer By Mocking Him?
(DBN)

DOJ Made Its First Request for Increased Judicial Security Funds in Years. The House Looks Ready to Grant It
(DBN)

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Wall Street:

Dow futures set to extend losses after Thursday’s sharp sell-off
(DBN)

Dow suffers 350-point loss as Apple, Microsoft weigh on broader stock market
(DBN)

Coronavirus impact on markets could outweigh U.S.-China tensions in short term
(DBN)

US Stock Market by Presidency
(DBN)

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Layoffs:

Bankrupt oil company warns of San Antonio office closure, laying off nearly 200
(DBN)

Vacuum cleaner company Dyson to cut 900 jobs globally due to virus impact
(DBN)

Science Museum of Minnesota: 158 layoffs
(DBN)

Casino to lay off more than 540
(DBN)

Wynn Resorts furloughing workers, cutting back midweek operations Volume 0% Loading ad
(DBN)

Circus Circus Las Vegas to permanently cut 262
(DBN)

Grand Rapids: AHC Hospitality to lay off 580
(DBN)

Schindler to cut 2,000 jobs as COVID-19 paralyzes projects
(DBN)

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Retailing:

Mall owner Simon and Authentic Brands bid $305 million for bankrupt Brooks Brothers
(DBN)

Ann Taylor parent company Ascena has filed for bankruptcy and plans to close hundreds of stores • Ann Taylor owner files for Chapter 11 bankruptcy • Authentic Brands, Sycamore Partners Weigh Bids for Ann Taylor Parent • Ann Taylor Parent Goes Bankrupt, Plans to Shut Over 1,000 Stores • Ann Taylor to close 1,600 stores • Ann Taylor parent's bankruptcy is the scariest yet • Here’s why the owner of Ann Taylor, Loft, and Lane Bryant is bankrupt • First Day Dec
(DBN)

Neiman’s Bankruptcy to Shed Light on Mytheresa Dispute
(DBN)

J. Crew is closing 8 stores
(DBN)

Catherines plus-size retailer to permanently close all of its stores in bankruptcy
(DBN)

Pier 1 OK'd For $18M Asset Sale After Stalking Horse Outbid
(DBN)

Retail workers slammed by job cuts, pushed into new roles as coronavirus shakes their industry
(DBN)

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Sports:

Fox Sports will fill empty baseball stadiums with virtual fans
(DBN)

Delayed Olympics Leaves Hotels Deserted and the Economy in Limbo
(DBN)

Washington NFL team to temporarily rebrand as "Washington Football Team"
(DBN)

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Newspapers:

Hearst chief resigns after report alleging toxic culture, misconduct
(DBN)

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Television:

NBC’s ‘The Blacklist’ turned to animation to finish its seventh season
(DBN)

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Banking:

FDIC adds five to its Systemic Resolution Advisory Committee
(DBN)

Warren Buffett hikes Bank of America stake by more than $800 million
(DBN)

Will COVID-19’s Impact on Banking Be Worse Than the Great Recession?
(DBN)

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Utilities:

Ohio corruption case throws focus on US nuclear plant troubles
(DBN)

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Economy:

US jobless claims hit 1.4 million, first increase since March • Weekly Initial Unemployment Claims increase to 1,416,000 • Comments on Weekly Unemployment Claims • Rise in US jobless claims signal economic reversal with Covid-19 cases resurging
(DBN)

Romney reportedly will vote against controversial Fed nominee Judy Shelton
(DBN)

Kansas City Fed: "Tenth District Manufacturing Activity Continued to Grow Slightly" in July
(DBN)

If you let millions of businesses fail, you threaten to throw us into the worst recession ever: Austan Goolsbee
(DBN)

From 'cautiously optimistic' to 'roller coaster,' CEO recovery outlooks diverge
(DBN)

80% of older Americans can't afford to retire - COVID-19 isn't helping
(DBN)

US Economic Crisis is About to Deepen
(DBN)

'A Band-Aid on a bullet wound:' Workers are getting laid off anew as PPP program runs out
(DBN)

Read a rough draft of the GOP's initial relief bill proposal, which is circulating around the highest levels of Congress
(DBN)

The ‘cobra effect’ will have a ‘disastrous and unimaginable’ impact on the market, Wall Street vet warns
(DBN)

Trump suggests Republicans cut weekly unemployment benefits to $175 • Republicans Agree On $1,200 Checks, But Negotiations Are Still Faltering. Here’s The Latest On The Next Big Stimulus Bill • Flashpoints Emerge as Lawmakers Negotiate New Virus Aid • $600 unemployment boost may be replaced by $200 or $300 a week, per Mnuchin plan • What could replace the $600 weekly unemployment boost as new jobless claims rise • Mnuchin says unemployment plan will be based on ’70% wage replacement,′ rules out payroll tax cut • Senate GOP to unveil coronavirus relief plan next week, McConnell says • Senate GOP leaves town, aiming to unveil COVID-19 aid bill Monday
(DBN)

Next coronavirus aid package may not become reality until second week of August, analysts say
(DBN)

Here’s how upcoming stimulus legislation could undermine your Social Security
(DBN)

Worried Americans, concerned about virus, telling leaders not so fast
(DBN)

Black millennial households earn about 60% of what their white counterparts make, and it highlights just how much worse the generational wealth gap is along racial lines
(DBN)

This calculator tells you whether or not you’re middle class
(DBN)

87% of young adults say child care costs affect the decision to have kids
(DBN)

Romney Wants to Cut Your Social Security
(DBN)

Anthony Fauci: I would not get on a plane or eat inside a restaurant
(DBN)

Mexican Migration Could Be the First Crisis of 2021
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

US mortgage rates rise for the first time in 6 weeks, jumping above 3%
(DBN)

Retail REITs Will Contend With Retail Distress Until At Least 2021 • Retail REITs may not recover until 2022, S&P says
(DBN)

Headed Towards an Eviction Cliff
(DBN)

Mortgage rates rise on job-market concerns
(DBN)

Who still needs the office? U.S. companies start cutting space
(DBN)

The feared jumbo mortgage debacle is here — thanks to the coronavirus — and ready to pound the housing market
(DBN)

NMHC: Rent Payment Tracker Finds Decline in People Paying Rent as of July 20th
(DBN)

NMHC: "July Apartment Market Conditions Showed Continued Impact of COVID-19 Outbreak"
(DBN)

AIA: "Architecture billings remain in negative territory, begin to stabilize"
(DBN)

Family dispute bankrupts lawyer's company
(DBN)

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Municipalities:

Mnuchin says stimulus package will not be a bailout for ‘mismanaged’ states
(DBN)

America’s Cities Are Staggeringly Unequal
(DBN)

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Oil/Gas:

Shale Lenders in Retreat After Decade That Fueled Oil Boom
(DBN)

Energy Companies Comprise Over 25% Of Total U.S. Corporate Defaults
(DBN)

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Autos:

Tesla hit a $300 billion milestone while making less than half of what Apple and Amazon were when they crossed the same mark
(DBN)

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Education:

Infectious disease experts warn against reopening schools in Florida, Texas
(DBN)

CDC issues guidelines preparing for schools to reopen • CDC guidelines for schools reopening puts heavy emphasis on having students back in classroom
(DBN)

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Healthcare:

Coronavirus update: Global COVID-19 cases top 15 million as U.S. edges closer to 4 million, and California has more cases than New York • US Covid Deaths Over 1,000 for Third Day
(DBN)

Coronavirus Cases Slow in Many States
(DBN)

NY Gov. Cuomo says coronavirus infections among young people are on the rise
(DBN)

Colorado Gov. Jared Polis calls for national coronavirus response
(DBN)

Homemade face masks need multiple layers to prevent coronavirus spread: Study
(DBN)

WHO warns there’s no going back to ‘old normal’ as coronavirus accelerates
(DBN)

HHS predicts U.S. coronavirus death rate will begin to fall ‘in next couple of weeks’
(DBN)

Couple returning home after 5-day vacation turned into 5-month quarantine
(DBN)

WHO slams ‘unacceptable’ remarks by U.S. Secretary of State Mike Pompeo
(DBN)

Trump says briefings without health experts are a "concise way of doing it"
(DBN)

The confounding range of COVID-19 symptoms
(DBN)

The mystery of long-term coronavirus patients
(DBN)

Are schoolchildren not vectors for COVID-19 as Florida Gov. Ron DeSantis claims?
(DBN)

Rush to Find Coronavirus Origins
(DBN)

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Entertainment:

Movie theaters won’t open up soon. Studios need to change their playbooks
(DBN)

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Climate:

The Great Climate Migration Has Begun
(DBN)

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Coal:

Kentucky coal operator files for bankruptcy protection
(DBN)

U.S. Senator Duckworth floats plan to rescue coal country • Duckworth introduces safety net bill for coal country
(DBN)

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Movie Theaters:

AMC postpones theater reopenings until August • AMC pushes reopening to August as Hollywood continues to shift movie slate
(DBN)

Movie theaters implore studios: Release the blockbusters
(DBN)

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Student Debt:

A $34 Million Student Debt Wipe Out Sets Up a Perfect Economic Experiment
(DBN)

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Fashion:

Diane von Furstenberg’s Brand Is Left Exposed by the Pandemic
(DBN)

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Mass Torts:

BASF, Cahill Law Firm to Pay $72.5 Million in Talc-Scam Deal
(DBN)

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Fraud:

Goldman, Malaysia Reach $3.9 Billion Settlement Deal Over 1MDB
(DBN)

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New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (78 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (9 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:

A wave of bankruptcy filings is coming, but not as soon as you may think
(DBN)

A flood of business bankruptcies has hit Houston, more are on the way
(DBN)

Next Up: A Tsunami of Bankruptcy Filings Due to COVID Closures
(DBN)

'Mega' Bankruptcies Will Break All-Time Record, Says Professor Edward Altman
(DBN)

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Bankruptcy Reform:

Democrats Push Bill Allowing Student Loans to Be Absolved in Bankruptcy
(DBN)

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Litigation:

Funding for COVID Recovery: Litigation Finance During Bankruptcy and Restructuring
(DBN)

Delaware Courts Address Common Interest Doctrine Issue: Part I
(DBN)

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Automatic Stay:

Beware The Automatic Stay Termination When Dismissing To Refile (In re Crilly)
(DBN)

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D&O:

PLUS COVID-19 Perspectives: The Latest D&O Update
(DBN)

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Bonuses:

Bankruptcies Grant Extra Bonuses For CEO’s, CFO’s, COO’s And Many More
(DBN)

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Aviation:

Airlines lose billions as demand stalls, recovery hinges on coronavirus vaccine
(DBN)

Airlines confirm fears that travel demand dropped as new COVID-19 cases rose again in July
(DBN)

Nationalizing El Al Is the Least Bad of All Its Options
(DBN)

U.S. court authorizes Aeromexico to return leased aircraft amid bankruptcy process
(DBN)

SAA Creditors Give State More Time to Raise Funds
(DBN)

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Student Debt:

The budget breakdown of doctor couple who owe $180,000 in student loans
(DBN)

Some employers are starting to pay off student loans — here’s how it works
(DBN)

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Politics:

Trump brings up cognitive test in another Fox News interview
(DBN)

Trump finally admits COVID-19 is a serious problem, just not his problem
(DBN)

America's Governments Are at War with Each Other
(DBN)

Trump cancels Jacksonville portion of GOP convention
(DBN)

Gohmert Resolution Bans Democrat Party
(DBN)

Poll shows Biden beating Trump by 13 points in Florida
(DBN)

Biden FactCheck: "All the way back in January, warned (President Trump that) this pandemic was coming. I talked about what we needed to do.”
(DBN)

Texas governor's net coronavirus approval rating falls 21 points as cases surge
(DBN)

Dog sitting, dry cleaning and food runs: Secretary of State Mike Pompeo and his wife criticized for 'inappropriate use of taxpayer dollars' in new report
(DBN)

U.S. Senate passes $740 billion defense bill, bucking Trump on Confederate names • Senate passes defense bill despite Trump's veto threats
(DBN)

Biden’s Green Infrastructure And Jobs Plan Would Cost Less Than Nine Months Of Trump’s Deficit Spending
(DBN)

Virginia high school renamed to honor John Lewis
(DBN)

Trump bends DHS to his will
(DBN)

‘I talked to your bankers’: Watch Barbara Walters call out Trump for lying in a tense 1990 interview
(DBN)

Almost half of Republicans believe a debunked conspiracy theory about Bill Gates — here’s his response
(DBN)

Pompeo aide: Giuliani's outreach to secretary was 'deeply disturbing'
(DBN)

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Hotels:

Hotels: Occupancy Rate Declined 39% Year-over-year
(DBN)

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UK:

Counting the human cost of Covid — and of leaving small business owners behind
(DBN)

Thanet District Council faces 'bankruptcy' with £3 million black hole due to Covid-19 pandemic
(DBN)

London’s Luxury Residential Land Values Decline Amid Pandemic
(DBN)

Johnson Warns of ‘Tough Times’ With Pandemic Over U.K. Winter
(DBN)

The UK spent $500 million on a bankrupt satellite operator despite officials warning they could lose everything 'with no wider benefits'
(DBN)

Britain's COVID lending schemes risk widening regional divides
(DBN)

U.K. Output Expands as Economy Reopening Bolsters Optimism
(DBN)

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EU:

Euro zone business activity bounces back in July with strongest growth in 2 years
(DBN)

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PIIGS:

Italy’s winemakers are reeling from the coronavirus impact, but hope demand can bounce back
(DBN)

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China:

Pompeo calls for "free world" to rise up against China • Pompeo’s speech slamming China will have the ‘opposite effect’
(DBN)

China orders U.S. to close consulate in Chengdu
(DBN)

Many in Beijing still hopeful U.S.-China relations can improve
(DBN)

China markets extend losses, Shenzhen stocks dive more than 5% as U.S.-China tensions flare
(DBN)

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Australia:

Australia needs a ‘comprehensive plan’ to create more jobs, shadow treasurer says
(DBN)

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MENA:

As Court Approves Fishman Deal, Who Profits From Israel's Largest Bankruptcy?
(DBN)

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India:

Govt wanted to dilute bankruptcy law: Urjit Patel on what led to the rift
(DBN)

The Dilemma of Jurisdiction under Arbitration and Insolvency: Another Trolley Problem? – Part I
(DBN)

India's banks play a risky game as loan truce ends
(DBN)

India Bad-Loan Ratio Set to Worsen to 12.5%, Central Bank Warns
(DBN)

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Brazil:

Colony Capital Makes Surprise Bid for $2.9 Billion Oi Division
(DBN)

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