February 17, 2021

The Daily Bankruptcy News

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Law:

Top 25 Biglaw Firm Updates Bonus Policy: Special Bonuses For All, Plus Supplemental Bonuses!
(DBN)

Jones Day can be sued for retaliation over press release statements, judge rules in former associates’ suit
(DBN)

Lawyer tries to persuade IRS it doesn’t owe him $285K
(DBN)

Young Lawyers Are Drowning in Debt. They Want the ABA to Help
(DBN)

Veteran Miami Bankruptcy Lawyer's First Trials Lead to $3 Million Award
(DBN)

The Perfect Way To Compare Biglaw Firms Is Here
(DBN)

Climbing Profits and Expanding Nonequity Tier Stand Out as More Firms Post Results
(DBN)

Loan It to Own It: Quick Chapter 11 Helps LED-Wristband Maker Get Back on Track
(DBN)

How COVID-19 Has 'Necessitated Innovative Problem Solving' in Bankruptcy
(DBN)

Bankruptcy Judge Declines to Appoint Tom Girardi's Brother as Embattled Lawyer's Personal Guardian Don't Evict Tom Girardi From Mansion, Brother Begs Judge
(DBN)

Top tips for lawyers to boost their online reputations
(DBN)

Richard Nixon’s Gap Years In Biglaw
(DBN)

Hackers Claim To Have Jones Day Files Jones Day Hit by Data Breach as Vendor Accellion Hack Widens
(DBN)

You Know It’s Bad When The Court Decision Has A Table Of Contents: Part Deux
(DBN)

Woman who met lawyer on social media is accused in his killing; one other suspect is also charged
(DBN)

Dozens charged in Capitol riots spewed extremist rhetoric
(DBN)

Explainer: Trump's acts as president are 'fair game' for criminal charges
(DBN)

Poll: 58 percent of Americans believe Trump should have been convicted ‘This Acquittal Sends Three Dangerous Messages to Future Presidents’
(DBN)

Man Said He Wanted to Punch President Biden and Sit in His Chair Until He Died: Affidavit
(DBN)

Subpoenas in Trump criminal probe suggests fresh scrutiny of his Seven Springs estate
(DBN)

Georgia Republicans Are Trying to Change the Rules for Fani Willis’s Prosecution of Donald Trump for Election Crimes
(DBN)

Trump Lawyers Finish Picture-Perfect Performance By Attacking Each Other In The Press
(DBN)

Democratic congressman sues Trump over role in Capitol riot NAACP, House Democrat sue Trump, Giuliani, alleging Capitol riot conspiracy Trump and Giuliani face first civil suit stemming from Capitol riots; violation of KKK Act is alleged House Homeland Security Chair Uses KKK Act to Sue Trump, Giuliani, Proud Boys, and Oath Keepers Riot lawsuit just part of Trump’s post-impeachment problems
(DBN)

Trump Fans Charged In Capitol Attack Didn't Like Antifa Getting Credit For Their Work Woman charged in Capitol melee says Proud Boys recruited her Son of Conservative Activist L. Brent Bozell III Charged in Capitol Siege Texas Man Who Broke Speaker’s Lobby Doors Told His Wife to ‘Get Rid of His Trump Things’ After Capitol Invasion: Prosecutors Proud Boy’s Lawyer Uses Mitch McConnell’s Condemnation of Trump in Attempt to Get Client Out of Jail
(DBN)

Looks Like Dominion Is About to Make MyPillow CEO Mike Lindell a ‘Happy’ Guy
(DBN)

Giuliani is no longer currently representing Trump, per report, despite the former president's ongoing legal battles
(DBN)

Case dismissed against woman who called police on Black bird-watcher With Charges Dropped, Attorney For Amy Cooper Threatens ‘Legal Consequences’ For Those Who ‘Rushed to the Wrong Conclusion’
(DBN)

Biden faces pressure as US sets new course on immigration
(DBN)

'The NYPD Cannot Bargain Away Its Disclosure Obligations': Police Unions Suffer Massive Defeat in Federal Court NYC to Share Police-Discipline Records After Unions’ Court Loss
(DBN)

Former Cop Charged in George Floyd Death Wants Charges Dismissed, Prosecutors Sanctioned Over Leaked Plea Deal
(DBN)

California Realtor Loses Job After Racist Video Harassing Asian Woman Goes Viral
(DBN)

Ghislaine Maxwell suffering even more in jail than before, lawyer complains
(DBN)

Is A Legal Reckoning Coming For Alex Jones?
(DBN)

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Judges:

BK ND NY: Honorable Diane Davis Appointed Chief U.S. Bankruptcy Judge Effective February 16, 2021
(DBN)

Lawyers smoke a cigar, drink wine during Zoom hearings; litigants appear from hair salon, while driving
(DBN)

No holding back: Judge Jed Rakoff discusses new book about how to fix a broken legal system
(DBN)

Trump picked the youngest judges to sit on the federal bench. Your move, Biden.
(DBN)

The New Gender Dynamics Of The U.S. Courts Of Appeals
(DBN)

Jurors in Short Supply as Courts Resume Trials Amid Pandemic
(DBN)

‘Mostly Foam’: Judge Taps into Keg Full of Beer Puns in Lawsuit Accusing Red Robin of Failing to Pour Full Pints
(DBN)

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Wall Street:

Stock futures are flat after Dow closes at a record, Verizon gains after Berkshire adds position
(DBN)

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Layoffs:

 

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Healthcare:

Opponents of Mercy Hospital closure ask Cardinals for help Trinity reputation may take hit even if rating doesn't for Mercy bankruptcy
(DBN)

Fauci says he worried about getting Covid at Trump White House
(DBN)

Health Care Shows More Cracks - A total of 22 large health-care related companies filed for bankruptcy in 2020
(DBN)

Winter storm causes "widespread delays" of COVID vaccine shipments
(DBN)

'It's like we're trying our best to help the virus': A fourth wave is looming if US fails to contain COVID-19 variants, experts say
(DBN)

Plummeting Cases in U.S. Show Pathway to Crushing Covid-19 COVID-19 cases are dropping in US, but not because of vaccinations
(DBN)

Covid-19 Deaths Seen Falling to Slowest Pace Since November
(DBN)

Biden faces urgent questions as Covid reaches a new stage
(DBN)

Who has died from Covid-19 in the US?
(DBN)

Seattle woman, 90, walks 6 miles through snow for vaccine
(DBN)

U.S. Vaccine Supply Increasing to 13.5 Million Doses Per Week
(DBN)

Fauci: Timeline for widespread COVID-19 vaccine availability slightly delayed
(DBN)


NYC’s Rich Neighborhoods Get an Outsize Share of Covid Vaccines
(DBN)

A coronavirus vaccine entrepreneur held an indoor conference. Now dozens of attendees have the virus.
(DBN)

Do lockdowns really make a difference? How two US states with totally opposite COVID strategies both ended up with the same result
(DBN)

Dropping mask mandates is a mistake, the head of the CDC said, after Iowa and Montana ruled that masks were no longer compulsory
(DBN)

Hospitals still ration medical N95 masks as stockpiles swell
(DBN)

Second-dose disarray with vaccine mishaps CDC Advisers Weigh Guidance for Delaying Second Covid Shots
(DBN)

India’s dramatic fall in virus cases leaves experts stumped
(DBN)

Child care workers are getting left behind in the vaccine rollout
(DBN)

Vaccine delays leave grocery workers feeling expendable
(DBN)

'Enough politicking': WHO scientist tells Biden admin to let Covid report speak for itself
(DBN)

Tornadoes, historic cold disrupt U.S. vaccinations
(DBN)

Texas Nurses Trek Hours Through Snow to Reach Hospital—'I Needed to Get In'
(DBN)

Democrats' very pricey, very small health care coverage expansion
(DBN)

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Utilities:

Millions of Texans Desperate for Heat and Safety
(DBN)

Texas Warns of Outrages for Several More Days
(DBN)

Why Texas lost power right when it needed it the most
(DBN)

Millions still without power in Texas a full day into major freeze, residents left angry
(DBN)

Texas mayor tells residents to fend for themselves during power outage: 'Only the strong will survive'
(DBN)

Texas Utility Regulator Orders Energy Price Hike While Millions Go Without Power
(DBN)

‘A complete bungle:’ Texas’ energy pride goes out with cold
(DBN)

‘This Is Extremely Dangerous’: No Safe Place in Frigid Texas
(DBN)

Wind turbines are freezing in Texas amid ‘unprecedented’ storm Sweden Shows Texas How to Keep Turbines Spinning in Icy Weather
(DBN)

Texas Blackouts Make California’s Outages Seem Like a Hiccup
(DBN)

TX: Grid Failure Because No One Prepared It
(DBN)

'I got no defense': Ted Cruz responds after viral tweet mocking California energy policies resurfaces amid Texas storm
(DBN)

Texas: Boil Water Notice Expanded
(DBN)

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Sports:

Madison Square Garden to welcome fans back for Knicks, Rangers games
(DBN)

NBA postpones six games due to four Spurs players testing positive for coronavirus
(DBN)

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Autos:

Chip shortage could impact nearly 1 million vehicles of production in first quarter - IHS
(DBN)

Ford, GM and Toyota Plants Lose Shifts Due to Winter Storm
(DBN)

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Economy:

New York Manufacturing Activity Quickens in February — NY Fed NY Fed: Manufacturing: Business activity "grew modestly" in New York State in February
(DBN)

The perils of prolonged unemployment
(DBN)

The New Debt Prisons
(DBN)

U.S. financial outlook mostly good, growth could outpace China: Fed's Bullard
(DBN)

Heartland factories losing ground as Biden readies manufacturing push
(DBN)

New York Manufacturing Expands at Faster Pace as Prices Jump
(DBN)

Fed’s Bowman Warns Economy at Risk Amid New Virus Strains
(DBN)

Biden rallies public to pressure Republicans on virus aid Biden asked for 6 months of extra unemployment benefits. Here's why House Democrats gave him 5 Democrats Put Biden Stimulus on 10-Day Fast Track for House Vote Biden's Stimulus Plan Would Give a 20% Income Boost to the Poorest Americans Democrats in Congress are ramping up efforts to enact Biden's $1.9 trillion stimulus package within the next month Biden's town hall in swing state marks new phase in selling stimulus package
(DBN)

How Biden learned to go big
(DBN)

Bulk of jobless claims are due to repeat pandemic layoffs, say researchers
(DBN)

Hair salons, dentist offices, and assisted living facilities are passing the costs of PPE and cleaning supplies on to customers, report says
(DBN)

Mitt Romney to propose minimum wage hike coupled with immigration enforcement GOP Sens. Mitt Romney and Tom Cotton announce bill to raise the minimum wage that also bars undocumented workers
(DBN)

Biden faces questions about commitment to minimum wage hike
(DBN)

Fed's George: Fiscal policy will remain important until pandemic is over
(DBN)

Extreme weather across the US is snarling operations for companies including Walmart, GM, and FedEx
(DBN)

Deep Freeze Snarls U.S. Grain Shipments, Slows Ethanol Plants
(DBN)

The Trade War Drove American Automaking Jobs to China as Tariffs Stalled U.S. Exports
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Property owners in 48% of US counties are at major default risk
(DBN)

MBA Survey: "Share of Mortgage Loans in Forbearance Declines to 5.29%"
(DBN)

The Housing Bubble and Mortgage Debt as Percent of GDP
(DBN)

Fannie and Freddie: REO inventory declined in Q4, Down 57% Year-over-year
(DBN)

Biden extends mortgage relief, moratorium on foreclosures Biden extends protections for homeowners. Here’s what you need to know
(DBN)

HUD extends COVID-19 forbearance for FHA loans
(DBN)

Fed's George: Pandemic changes in housing, work patterns could stress real estate markets
(DBN)

Home appraisal for Black couple skyrockets after white friend pretends to be homeowner
(DBN)

Portland Real Estate in January: Sales Up 11% YoY, Inventory Down 48% YoY
(DBN)

Maryland Real Estate in January: Sales Up 14% YoY, Inventory Down 63% YoY
(DBN)

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Municipalities:

Biden urged to end Trump lawsuit blocking payments to Puerto Ricans
(DBN)

To Plug a Pension Gap, This City Rented Its Streets. To Itself.
(DBN)

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Oil/Gas:

Gas at One U.S. Hub Trading at $999. Last Week It Was $4
(DBN)

Skyrocketing Texas Power Prices May Enrich Some, Bankrupt Others
(DBN)

Seadrill Limited gets consensual cash use, but lender groups hint at forthcoming restructuring dispute
(DBN)

Texas suffers energy nightmare during winter storm
(DBN)

U.S. shale could face weeks of depressed oil production due to cold
(DBN)

The Texas power grid failed mostly due to natural gas. Republicans are blaming wind turbines Texas Gov. Greg Abbott blames wind turbines, Green New Deal policies for outages Renewables Not to Blame for Texas Outages The Real Reason for Texas' Rolling Blackouts No, frozen wind turbines aren’t the main culprit for Texas’ power outages Texas Power Plants Failed Because They Aren’t Dressed for Winter In Texas's black-swan blackout, everything went wrong at once
(DBN)

U.S. Oil Output Plunges by a Third as Freeze Slams Permian Freeze Shuts Fracking Down in Biggest U.S. Shale Basins U.S. Freeze Cuts Oil Output by Over 2 Million Barrels a Day
(DBN)

Occidental Declares Force Majeure as Cold Shuts in Permian Oil
(DBN)

150 years of spills: Philadelphia refinery cleanup highlights toxic legacy of fossil fuels
(DBN)

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Climate:

Winter’s wrath: Bitter cold, no power and a deadly tornado
(DBN)

U.S. Snow Cover Reaches Record High Across Lower 48 States
(DBN)

North Texas Man Living In His Car Due To Hours Without Power To His Home
(DBN)

Millions of Texans left without heat overnight in frigid weather: 'A nightmare situation' Energy prices jump as millions left without power in Texas Store limits water — and brisket — purchases as Texans face power outages, supply issues Millions left freezing without power in Texas as deadly winter storm hits U.S. 'I was afraid of not making it through the night': Mass outages hit Texas amid arctic cold Deep freeze shuts Houston ship channel Millions of Texas households are still without power in a brutally cold winter storm. What went wrong? At Least 23 People Dead in Storm-Related Incidents Texans Are Being Killed by Attempts to Keep Warm Amid Storm Power Outages ‘We’re seeing the winter version of Hurricane Harvey,’ Harris County judge on Texas storm
(DBN)

Tucker Carlson tries to blame ‘green energy’ for Texas blackouts
(DBN)

Companies forced to halt operations as freeze grips parts of United States
(DBN)

Houston: Skyscrapers lit up in downtown spark outrage amid power outages
(DBN)

Mexico Blames U.S. as Energy Crisis Spills Across the Border
(DBN)

While the rest of the country freezes, Florida’s sunny beaches overflow with crowds
(DBN)

Maersk aims for carbon-neutral container shipping in 2023
(DBN)

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Education:

COVID school closures may slightly stunt U.S. economic growth: Fed paper
(DBN)

The evidence is clear: We can open schools safely now
(DBN)

#OpenOurSchools: GOP targets teachers unions in bid to retake suburbs
(DBN)

The deeply distorted debate about reopening schools
(DBN)

Poll: Teachers who are back in the classroom are comfortable with it
(DBN)

Biden on schools: "The goal will be 5 days a week"
(DBN)

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Festivals:

Muted Mardi Gras: Closed bars, barricaded Bourbon Street
(DBN)

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Consumer Finance:

This map shows the typical payday loan interest rate in every U.S. state
(DBN)

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Religion:

Survey: Black Americans attend church and pray more often
(DBN)

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Hotels:

Troubled Coachella Hotel Project Files Bankruptcy Amid Lawsuit
(DBN)

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Food/Beverage:

Country Fresh Enters Into Stalking Horse Purchase Agreement to Sell its Assets In Bankruptcy Sale
(DBN)

Bankrupt ‘eatertainment’ concept Punch Bowl Social names chief restructuring officer, is looking for buyers
(DBN)

D.C. restaurant, retail employees face bleak future if remote office work stays prevalent
(DBN)

Dean & DeLuca Emerges From Bankruptcy
(DBN)

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Newspapers:

Hedge Fund Reaches a Deal to Buy Tribune Publishing Hedge funds gobble local news
(DBN)

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Student Debt:

Biden dismisses a Democratic plan to wipe out $50,000 in federal student-loan debt
(DBN)

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Movie Theaters:

AMC Entertainment: Dilution, Dilution, And Even More Possible Dilution To Avoid Bankruptcy
(DBN)

AMC Revolver Lenders Working With Latham & Watkins on Covenant, Potential Going-Concern Default Waivers
(DBN)

Record China box office foreshadows global pent-up demand for movies: Imax CEO
(DBN)

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Fraud:

Elizabeth Holmes resists government efforts to detail her CEO lifestyle
(DBN)

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Coal:

With US coal jobs decimated, groups look to Biden to aid regional transition
(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 (21 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (21 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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Automatic Stay:

The Supreme Court Teaches A Lesson In Passive Non-Aggression: City of Chicago v. Fulton
(DBN)

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Bankruptcy Bonuses:

Hertz bankruptcy judge approves up to $12 million in executive bonuses
(DBN)

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Litigation:

Norton Rose: Litigation trends survey results
(DBN)

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Cross-Border:

Chapter 15 and Bankruptcy Credit Events under Credit Default Swaps
(DBN)

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Mediation:

Study: Early Referrals To Mediation, With Opt-Out for Good Cause, Are Effective
(DBN)

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Aviation:

U.S. airline passenger traffic fell last year to lowest number since 1984 - DOT
(DBN)

Relaunching in a crisis, Alitalia scales back at home
(DBN)

TSA reports back-to back days of more than 1 million travelers over Presidents' Day weekend
(DBN)

New State Help for South African Airways Government grants South African Airways $346 million to make severance payments
(DBN)

Ryanair loses legal fight against French, Swedish airline state aid
(DBN)

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Retailing:

The running list of 2021 retail bankruptcies
(DBN)

Trading Fifth Ave. for Worth Ave.: Retail flocks to thriving Palm Beach as Americans head South
(DBN)

Walmart has temporarily closed 500 stores as severe winter weather dumps snow and causes frigid temperatures in parts of the US
(DBN)

Debt-laden sewing retailer Joann, a surprise winner in the pandemic, files for an IPO
(DBN)

One year later: How COVID-19 upended retail and what it means for 2021
(DBN)

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Banking:

'One of the Biggest Blunders in Banking History': 10 Investment Firms Can Keep More Than Half-Billion-Dollar Windfall Accidentally Wired by Citibank Citigroup cannot recoup Revlon payouts after nearly $900 million gaffe: U.S. judge Citi Loses Fight to Get Back Millions in Mistaken Transfer
(DBN)

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Tax:

Democrats Target Private Equity, Hedge Fund Tax Break in Bill
(DBN)

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Tourism:

COVID ends Florida's decade-long run of record tourism
(DBN)

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Mass Torts:

Hearing tomorrow about possibly fraudulent sexual abuse claims against Boy Scouts
(DBN)

After state blunder, Pa. abuse victims ask: ‘Who the hell are we supposed to trust?’
(DBN)

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Telecoms:

GTT, Creditors Consider Prepack Chapter 11 to Restructure Debt With Noteholders Taking Vast Majority of Reorganized Equity
(DBN)

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Politics:

Covid wars launch DeSantis into GOP ‘top tier’
(DBN)

Johnson: McConnell doesn't 'speak for the conference' on Trump's culpability for riot McConnell's Trump impeachment outrage passes the buck. And he knows it. Impeachment, McConnell, And The Idea Of ‘Relentless Dissents’ Anderson Cooper Calls Out Mitch McConnell's Criticism Of Donald Trump For What It Is Hannity says it's time for new GOP leadership after McConnell condemns Trump for inciting insurrection Trump lashes out at McConnell over post-acquittal critique Trump Vows to Back Primary Rivals Against McConnell Loyalists
(DBN)

Lindsey Graham says Trump is 'mad at some folks' over impeachment trial but is 'ready to move on'
(DBN)

Ron Johnson and the emerging hoax-ification of the Capitol riot
(DBN)

An impeachment manager says Republicans privately told her she made a compelling case to convict Trump, but they acquitted him anyway
(DBN)

GOP Rep. Adam Kinzinger's family disowns him for opposing Trump: 11 relatives sign handwritten letter calling him a 'disappointment to God and Lou Dobbs' and a member of the 'devil's army' after he backed impeachment Trump directed an RNC member to tell GOP Rep. Adam Kinzinger a 'vulgar message about what he should do with himself' in 2016, report says
(DBN)

Assistant House speaker: Capitol riot commission needed for 'truth and accountability'
(DBN)

Steve Bannon Allegedly Claimed Trump Was Suffering From ‘Early Stage Dementia’ While President
(DBN)

Cuomo’s popularity not dented by ‘undercount’ of nursing home deaths, Siena poll finds Poll: Cuomo gets low grade on handling of nursing home data, but favorability remains high Gov. Cuomo Blames Nursing Home Death Data Scandal on 'Conspiracy Theories' Son of nursing home victim rips Cuomo: 'What he doesn't like about Trump is exactly who he is' Cuomo stops short of apology over delay in data for nursing home coronavirus deaths
(DBN)

A Republican donor gave $2.5 million for a voter fraud investigation. He wants his money back.
(DBN)

Biden says he's 'tired of talking' about 'former guy' Trump in first town hall as president
(DBN)

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UK:

UK opens quarantine hotels, pushes on with vaccine drive 'We are like captives': life in Britain's quarantine hotels Day two of hotel quarantine: Couple shares experience of small meal portions and ‘glum’ views
(DBN)

Britain may need big tax rises, but not yet: think tank
(DBN)

Lawsuit Against Diplomat's Wife Over Death of Harry Dunn Must Stay in U.S. Because She Refuses to Return to U.K., Judge Rules
(DBN)

Does a failure to give notice to a prior QFCH invalidate UK administrator appointments?
(DBN)

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EU:

Europe Faces Tough Task in Weaning Economy Off $1.8 Trillion in Covid-19 Relief Europe Urged to Prepare Exit From $2.9 Trillion in Covid Help
(DBN)

Analysts lift profit growth forecast for European firms to 42.7%: Refinitiv
(DBN)

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PIIGS:

Spain betting on vaccine passports to revive summer tourism
(DBN)

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Canada:

IMF says Canada must justify post-pandemic stimulus spending, needs clearer fiscal anchor
(DBN)

Canadian Home Buyers Face Tightest Market Ever Amid Pandemic
(DBN)

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Germany:

Germany dashes hopes of businesses for quick reopening of economy
(DBN)

A bitcoin stash worth $68 million was seized by German police but the owner has refused to give up his password
(DBN)

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MENA:

Leading restructuring consulting firms ramping up in Gulf
(DBN)

Israeli study finds 94% drop in symptomatic COVID-19 cases with Pfizer vaccine
(DBN)

Israel plans to reopen gyms, malls, and hotels - but only for people who have been vaccinated
(DBN)

Israeli economy dips 2.4% in 2020, but COVID hit less than in OECD
(DBN)

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Singapore:

Singapore Sets Aside More Than US$8 Billion for Covid-19 Resilience Package
(DBN)

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Netherlands:

Dutch coronavirus cases rising again, driven by UK variant: health authorities
(DBN)

Dutch Court Strikes Down Curfew in Blow to Pandemic Fight
(DBN)

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Switzerland:

Swiss companies can use 'composition proceedings' to stay in operation during crisis and rescue profitable business parts
(DBN)

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