January 27, 2021

The Daily Bankruptcy News

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Law:

Latham Bonuses Are Out And The Median Bonuses Beat The Market
(DBN)

The Best Biglaw Firms In The World According To Corporate Clients (2021)
(DBN)

School Sued For Allegedly Skimming Money From Deceased Donor Endowments To Law School
(DBN)

Locke Lord Bolsters Restructuring Practice With Addition of New Partners Stephanie Wickouski and Adrienne Walker
(DBN)

Companies Prepare for In-House Lawyer Hiring Surge, Survey Says
(DBN)

Transitioning to Remote Work Was Tough—but Transitioning Back Could Be Even Tougher
(DBN)

Girardi Keese Trustee Accuses Rival Firm Of Poaching Clients
(DBN)

Los Angeles County Bar Association Nears Filing for Chapter 11 Bankruptcy Protection
(DBN)

Jones Day’s Brogan Stays in Top Role, Francisco, Orr Promoted
(DBN)

Man who was told he failed bar exam actually passed, and he blames software
(DBN)

This Law School Has Crazy Impressive Admissions Numbers
(DBN)

Some try working in bed during pandemic; Above the Law founder says why not?
(DBN)

Will Law Firm Fashion Change Because Of The Pandemic?
(DBN)

Mercer Law Students Want to Give Pro-Trump Lawyer Lin Wood the Boot, but Ditching a Donor Is Complicated
(DBN)

Capitol Rioters Blame Trump or Lax Security. Some Want a Deal Two Virginia police officers fired over Capitol riot Top U.S. Capitol security officials apologize for 'failings' in Jan. 6 attack At least 150 people have been charged by Justice Department in Capitol riot Report: 134 Capitol Police Officers Were Assaulted Two Virginia Cops, One of Whom Taunted the Left to ‘Keep Poking’ the ‘Right,’ Get Canned After Taking Selfie During Capitol Siege Woman Accused of Stealing Laptop from Nancy Pelosi’s Office Kicked Off of Internet by Judge—with an Exception 'Traitors Get Shot': Texas Man Allegedly Threatened His Kids to Keep Them Quiet About His Involvement in D.C. Insurrection
(DBN)

Democrats stunned by briefing on Capitol's security before insurrection: 'It was only by pure dumb luck' more weren't killed Capitol Police Admit They Knew of 'Strong Potential for Violence' from 'Militia Groups and White Supremacist' Organizations Before Jan. 6 Siege
(DBN)

GOP signals unwillingness to part with Trump after riot
(DBN)

The Federalist Society And The Capitol Attack: What Is To Be Done?
(DBN)

How to restore trust for a profession in transition
(DBN)

Proud Boys to be Listed as Terrorist Group
(DBN)

Giuliani wasn't just a Trump partisan but a shrewd marketer of vitamins, gold, lawsuit says
(DBN)

Lawyers are blowing off Trump because they know he doesn't pay his bills: CNN
(DBN)

Maxwell asks judge to dismiss case, says Jeffrey Epstein deal covers her
(DBN)

Epstein Pilot Cooperating with FBI
(DBN)

Lockdown-defying pastor rages after judge refuses to dismiss criminal charges: ‘Get ready for the judgment of God!’
(DBN)

Lawyer suspended for Facebook advice on how to shoot an abuser and avoid conviction
(DBN)

CBS executives placed on leave after reports of "racist" and "sexist" comments
(DBN)

Woman who lived at Chicago church for over 3 years goes home after Biden administration suspends deportations
(DBN)

Judge bars Biden from enforcing 100-day deportation ban Defeat in Texas shows how the conservative judiciary can thwart Biden's agenda Federal Judge Hands Texas Attorney General a Win, Blocking Joe Biden's 100-Day Pause on Deportations Nationwide
(DBN)

DOJ rescinds ‘zero tolerance’ immigration rule DOJ Formally Revokes Trump-Era Family Separation Policy, But Immigration Lawyers Added a Word of Caution About the ‘Huge Win’
(DBN)

Texas worked in secret with Trump officials to obstruct Biden’s immigration policy
(DBN)

Florida woman has no regrets over racially abusing Black men for working: 'I have reasons to be racist'
(DBN)

Cops: Woman upset by COVID-19 protocols throws bricks at Buckhead Chick-fil-A
(DBN)

DOJ Will Not Renew Private Prison Contracts U.S. Private Prison Populations
(DBN)

'Paramedic of the Year' and a Fire Rescue Captain Accused in Theft of COVID-19 Vaccine Dosages
(DBN)

‘We Are Armed and Nearby Your House’: Ex-Air Force Captain Who Believed Trump Won Allegedly Threatened New York Congressman's Family
(DBN)

U.S. nears "dangerous phase" as anti-Semitic incidents surge
(DBN)

Auschwitz survivors mark anniversary online amid pandemic
(DBN)

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Judges:

Vacancy: Bankruptcy Judge - San Antonio, TX
(DBN)

Chief Justice Roberts won't preside in Trump's second impeachment trial; what does the Constitution say? The Linguistic Gymnastics ‘Textualists’ Will Perform To Get Roberts Out Of Trump’s Impeachment
(DBN)

With Democrats in control, Supreme Court reform proposals reclaim center stage
(DBN)

How Democrats Can Keep Their Policies Safe From This Supreme Court
(DBN)

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Wall Street:

U.S. stock futures mixed as Microsoft kicked off big-tech earnings Dow futures drop 300 points, S&P 500 set to fall from record
(DBN)

All the Reasons VIX Is Sounding Alarms as Greed Engulfs Markets
(DBN)

Goldman Sachs CEO David Solomon gets $10 million pay cut over 1MDB scandal
(DBN)

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Layoffs:

 

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Healthcare:

How the CARES Act Forgot America’s Most Vulnerable Hospitals
(DBN)

A year in, cases continue to rise sharply in some parts of the world, and every day the losses mount
(DBN)

Pfizer to Deliver U.S. Vaccine Doses Faster Than Expected: CEO
(DBN)

Black residents in Tampa Bay face big COVID vaccine disparities
(DBN)

Bill and Melinda Gates warn of "immunity inequality"
(DBN)

COVID Researchers Just Issued Their Bleakest 2021 Prediction Yet
(DBN)

US boosting vaccine deliveries amid complaints of shortages
(DBN)

Why Delaying the Second Covid Vaccine Shot Is Messy
(DBN)

Johnson & Johnson expects COVID-19 vaccine data next week
(DBN)

Germany, AstraZeneca Deny Report of Vaccine’s Lower Efficacy in Elderly Escalating AstraZeneca spat highlights EU vaccine fiasco
(DBN)

U.S. Lags in DNA Surveillance of Worrisome Covid-19 Variants
(DBN)

Biden: Any American who wants vaccine can get one "this spring"
(DBN)

Biden’s new Covid-19 vaccination goal won’t get the US to herd immunity before the fall
(DBN)

Vaccine appointments canceled amid confusion over supply
(DBN)

Oregon Weighs Race-Based Vaccine Preferences
(DBN)

Regeneron study shows antibody cocktail effective in preventing COVID-19 infection
(DBN)

Dr. Fauci and Dr. Birx detail how Trump’s coronavirus response was even worse than we thought
(DBN)

Last-mile delivery problems hampering pace of Covid vaccine rollout, distributors say
(DBN)

Life inside a Covid quarantine hotel from locked windows to police guarding your room
(DBN)

Citing pandemic, Greece bans protests for a week
(DBN)

What are the symptoms of new Covid strains? The 6 signs to watch for
(DBN)

Oklahoma lawmaker files bill that includes mask mandate
(DBN)

Biden administration orders additional 200 million doses of Covid-19 vaccine
(DBN)

With All Eyes on Covid-19, Drug-Resistant Infections Crept In
(DBN)

Front-line Workers No Keener Than Others to Get Vaccine
(DBN)

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Crypto:

South Africa Cracks Down on Bitcoin After Alleged Ponzi Scheme
(DBN)

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Fraud:

New Adventures for Hedge Fund Rogue in $200 Million Swiss Fraud Trial
(DBN)

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Travel:

Covid tests become new beach resort amenity ahead of new travel requirements
(DBN)

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Climate:

Central banks deepen their climate efforts
(DBN)

Oxfam: Wealthy are Drivers of Climate Change
(DBN)

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Taxis:

New York City cabbies beg de Blasio for forgiveness, at last, of heavy medallion debt
(DBN)

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Non-Profits:

The NRA's Chapter 11 Filing Takes Aim at the State of New York: Is it off Target?
(DBN)

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Movie Theaters:

AMC Theatres CEO Is “Optimistic” & Believes There Will Be A Summer Movie Season In 2021
(DBN)

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Economy:

U.S. consumer confidence increases slightly in January
(DBN)

U.S. Satisfaction at 11% in Early January
(DBN)

BLS: December Unemployment rates down in 19 States, Higher in 12 States
(DBN)

Distress index for the fourth quarter of 2020 shows increasing levels of stress.
(DBN)

Bankruptcy’s New Normal – The Consolidated Appropriations Act Distances from the Bankruptcy Code to Provide Further Covid Relief
(DBN)

White House signals it could agree to more narrowly targeted stimulus checks Democrats may move forward on coronavirus aid without Republicans: Schumer Biden stimulus plan could boost U.S. output by 5% over three years: IMF Chuck Schumer Prepares Democrats for Vote on Budget Reconciliation Democrats Ready to Go It Alone on Covid Relief Bill
(DBN)

Here’s how Biden would avert a looming benefits cliff
(DBN)

Joe Biden: The team he hopes can fix the US economy
(DBN)

Powell, With Year to Run at Fed, Aims to Avoid Past QE Mistake
(DBN)

IMF boosts world growth outlook as vaccines outweigh uncertainty IMF more upbeat on global economy; warns new Covid variants could derail growth IMF lifts global growth forecast for 2021, still sees 'exceptional uncertainty'
(DBN)

Pandemic Drives Business Support for Paid Leave, Study Finds
(DBN)

Why ‘tax the rich’ policies may make sense in a K-shaped economy
(DBN)

Newsom's abrupt COVID-19 reopening brings high risks for California, but also potential economic rewards California governor on lifting COVID stay-at-home orders
(DBN)

Top Democrats introduce bill to raise minimum wage to $15 by 2025 IMF economist backs increase in U.S. minimum wage, sees argument for slow phase-in
(DBN)

Biden's plan for a $15 minimum wage could mean 1 in 5 Americans earn more. Nearly a third of Black workers would get a raise, research suggests.
(DBN)

A financial snapshot of America one year after Covid
(DBN)

For Black Americans, the middle class has always been a mirage
(DBN)

Tilman Fertitta optimistic on U.S. economy post-Covid: ‘This is going to be the Roaring Twenties’
(DBN)

Trump Legacy: $7.8 Trillion Added to Deficit GOP Again Rediscovers Dangers of Deficits
(DBN)

Mapping Global Income Support During COVID-19
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

How Principal Reduction Through Mortgage “Cramdown” Affects Household Distress
(DBN)

NMHC: Rent Payment Tracker Shows Households Paying Rent Decreased 2.5% YoY
(DBN)

Real Estate Faces ‘Existential Crisis’
(DBN)

The end of offices? New York's business districts face uncertain future
(DBN)

Only 1 in 10 companies expect all their staff to return to the office when the pandemic dies down, a new report suggests
(DBN)

Weekly mortgage demand falls, but size of average homebuyer loan hits record MBA: Mortgage Applications Decrease in Latest Weekly Survey
(DBN)

America’s top-tier malls were resilient, but values are now crumbling, down 45% from 2016 levels, Green Street says
(DBN)

Behind on rent? How to apply for federal pandemic aid
(DBN)

Home Prices in 20 U.S. Cities Rise at Fastest Pace Since 2014
(DBN)

November home prices rose 9.5%, one of highest gains ever, Case-Shiller says Zillow Case-Shiller House Price Forecast: "Gathering Speed", 10.3% YoY in December
(DBN)

NYC Apartment Landlords Getting Burned in Gentrification Crash
(DBN)

Trump Plaza Florida to Remove Name
(DBN)

Unusual Economic Recession Shows Mixed CRE Outlook through 2023, Says Allen Matkins/UCLA Anderson Forecast California CRE Survey
(DBN)

Biden calls on HUD to address racial equity
(DBN)

____________

Municipalities:

Puerto Rico Electric Power Authority -- Moody's announces completion of a periodic review of ratings of Puerto Rico Electric Power Authority
(DBN)

$832 Million in Attorney Fees for Puerto Rico Bankruptcy Process
(DBN)

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Oil/Gas:

North America hit record bankruptcy debt across oil and gas sectors in 2020
(DBN)

After devastating 2020, Rystad expects bankruptcy numbers to normalize in 2021
(DBN)

U.S. Oil Bankruptcies To Fall As Prices Stabilize
(DBN)

S&P warns Exxon, Chevron and other oil firms it may cut their credit ratings thanks to the push to zero-carbon
(DBN)


Diamond Offshore Latest in Industry to Complete Restructuring Plan
(DBN)

Biden's new climate orders to include pause on federal oil and gas leasing - sources
(DBN)

Oil prices slide as virus cases rise, demand worries persist
(DBN)

Biden’s Climate Change Policy Targets Oil Industry
(WSJ)

Energy Lenders Optimistic on Continued Oil, Gas Recovery
(DBN)

____________

Food/Beverage:

Cici’s files for bankruptcy as pandemic accelerates the decline of the buffet Cici’s Holdings files for Chapter 11 bankruptcy protection Pizza buffet chain Cici's files for bankruptcy CiCis lines up prepack debt-for-equity swap in 60-day Chapter 11 case
(DBN)

U.S. Restaurant Openings Picked Up Pace in Fourth Quarter 2020
(DBN)

Restaurants innovated as Covid took a toll, wiping away 6 years of sales growth
(DBN)

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Distressed Investing:

Marathon Raises $900 Million for Asset-Based Loans as Banks Flee
(DBN)

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Agribusiness:

Shipping carriers rejected tons of U.S. agricultural exports, opting to send empty containers to China
(DBN)

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Bankruptcy Crimes:

Calabasas resident indicted by feds on bankruptcy fraud
(DBN)

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Climate:

BlackRock calls for more disclosure on companies’ climate change plans BlackRock's Fink warns companies they need to show a net-zero plan
(DBN)

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Politics:

Hundreds of Biden staffers receive COVID vaccine
(DBN)

U.S. Senate confirms Biden nominee Blinken as secretary of state
(DBN)

Watchdog Group to Track Ex-Trump Aides Entering Private Sector
(DBN)

Senate to Begin Trump Trial Then Pause for Biden Confirmations
(DBN)

Marjorie Taylor Greene indicated support for executing prominent Democrats in 2018 and 2019 before running for Congress
(DBN)

Three Weeks Inside a Pro-Trump QAnon Chat Room
(DBN)

GOP Lawmaker, Removed from Ga. House Chamber for Refusing COVID Test, Compares Himself to ‘Original 33’ Black Lawmakers Who Were ‘Thrown Out Because of Their Skin Color’
(DBN)

Biden signs racial equity executive orders
(DBN)

McConnell defends filibuster: "You don’t destroy the Senate for fleeting advantage" Senate filibuster fight cools for now, but battles ahead Mitch McConnell Sparks Backlash Over 'Scorched-Earth Senate' Warning
(DBN)

Mayor Aims to Turn Small Town Into QAnon, USA
(DBN)

Trump opens "Office of the Former President" in Florida
(DBN)

Police Visit Conway on Nude Shot of Daughter
(DBN)

Sen. Ted Cruz reintroduces amendment imposing term limits on congressional members
(DBN)

White House adviser Rice says voting rights a 'real concern'
(DBN)

Trump impeachment trial faces challenge from Republican Senator Paul What Marco Rubio gets wrong about impeachment (it's a lot) Donald Trump's Senate impeachment trial will end one of these four ways Trump Sends Warning to GOP Before His Trial The Nonsensical Republican Argument for Dismissing Trump’s Impeachment GOP largely sides against holding Trump impeachment trial Senator presiding over Trump impeachment trial released from hospital GOP Vote Shows Impeachment Conviction Unlikely, But Senate Trial Could Increase Chances of a Trump Criminal Prosecution Senate Republicans Out of Step With Majority on Convicting Donald Trump
(DBN)

Tracking Corporate America's revolt against the Electoral College objectors
(DBN)

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Transit:

French health officials urge no talking on public transit to stop virus
(DBN)

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Utilities:

Santee Cooper’s Cash Situation Deteriorates Further
(DBN)

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Religion:

Catholic Church Shields $2 Billion in Assets to Limit Abuse Payouts
(DBN)

Deadline to File Sexual Abuse Claims in the Bankruptcy of the Archdiocese of New Orleans is March 1, 2021 at 5:00 p.m. Central Time
(DBN)

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Amusement Parks:

Bankruptcy court OKs auction plan for Conneaut Lake Park
(DBN)

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Sports:

IOC, Tokyo Olympics to unveil rule book for beating pandemic
(DBN)

____________

Mass Torts:

Accusers Must Abandon Lawsuits Against Harvey Weinstein to Receive Full Monetary Settlement
(DBN)

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Corporate Governance:

Stakeholder capitalism gains traction as companies commit to new ESG metrics
(DBN)

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New Bankruptcy Opinions
(7 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (10 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (8 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:

Bankruptcy filings hit decade-high last year
(DBN)

Uptick in Restructurings May Outlast COVID-19 Pandemic
(DBN)

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Bankruptcy Reform:

Consolidated Appropriations Act of 2021 Amends Bankruptcy Code Part 1: Amendments Clarifying Debtors’ Rights to Other Pandemic Relief
(DBN)

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Automatic Stay:

Can Doing Nothing as a Creditor Get You Sanctioned – In re Fulton Part II
(DBN)

Supreme Court Holds Creditor Retention of Debtor’s Property Does Not Violate "Automatic Stay"
(DBN)

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Make-Whole:

Fifth Circuit To Weigh Enforceability of Make-Whole Premiums in Chapter 11
(DBN)

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Subchapter V:

Does The Section 1111(b) Election Mean Different Things in Subchapter V Than in Traditional Chapter 11 Cases?
(DBN)

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Mediation:

Practicalities of Mediating Via Zoom
(DBN)

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Aviation:

U.S. 'actively looking' at mandating COVID-19 testing for domestic air travel
(DBN)

Southwest to Ban Emotional Support Pets
(DBN)

Americans warned against travel as COVID variants spread and testing rules go in effect
(DBN)

Vaccine Rollout Misses TSA Screeners, Air-Traffic Controllers
(DBN)

Airline outlook dims again as new travel curbs threaten summer
(DBN)

Germany mulls cutting international air traffic 'to almost zero'
(DBN)

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Retailing:

Bankrupt Christopher & Banks closing Plymouth headquarters, laying off 361 workers Bankrupt Christopher & Banks has bid from lender to buy e-commerce business
(DBN)

Belk reportedly to file for bankruptcy to reduce debt Could Belk Be the Next Department Store to Go Bankrupt? Belk reportedly close to bankruptcy Sycamore Partners Reaches Agreement to Recapitalize and Retain Control of Belk Department store chain Belk files for Chapter 11 bankruptcy, private equity firm Sycamore to take control A 190-year-old department store chain joins the list of retailers filing for bankruptcy
(DBN)

L'Occitane Commences Voluntary Chapter 11 Beauty retailer L'Occitane files Chapter 11
(DBN)

Is There Any Hope Left for Sears?
(DBN)

Target employees to receive $500-plus pandemic bonus
(DBN)

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Pensions:

Democrats eye union pension rescue as part of coronavirus aid
(DBN)

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Autos:

Garrett Shareholders Ask To File Competing Ch. 11 Plan
(DBN)

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Tech:

YouTube Suspends Giuliani Partner Program
(DBN)

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Education:

CDC finds scant spread of coronavirus in schools with precautions in place
(DBN)

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UK:

Around 900,000 small firms at risk in ‘cruel spring of bankruptcy’ if Covid help stopped, Rishi Sunak warned
(DBN)

Gordon Brown calls for urgent budget help as 1 in 7 UK firms face collapse
(DBN)

U.K. Has No Plans to Extend Sales Tax Cut for Hospitality
(DBN)

British Auto Industry Risks Slow Decline After Brexit
(DBN)

England & Wales Covid Deaths Surge to Highest Level Since April
(DBN)

Hotel quarantine: British rage over standard Australian rule
(DBN)

Zombie Companies Struggle to Survive in the U.K.
(DBN)

U.K. Warns EU Against ‘Vaccine Nationalism’ in Row Over Supplies
(DBN)

U.K. running high-stakes, real-world vaccine experiment
(DBN)

UK's Pandemic Disaster's Long Term Outcome
(DBN)

UK to unveil hotel quarantine plans, public told not to book vacations
(DBN)

UK’s coronavirus death toll surpasses 100,000 With many more to come UK PM Johnson: We did everything we could to minimise COVID loss of life UK PM Johnson: Sorrow of 100,000 COVID-19 death toll "hard to compute"
(DBN)

Report finds unwed mothers mistreated at homes in British-ruled Northern Ireland
(DBN)

UK's Covid death toll now worse than Great Plague, AIDS and the Blitz -- combined?
(DBN)

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EU:

ECB Steps up Scrutiny of Bank Risk Before Potential Default Wave
(DBN)

EU demands coronavirus vaccine makers honor commitments
(DBN)

AstraZeneca defends slow supplies to the EU, but says it ordered 3 months later than the UK
(DBN)

Germany backs EU export restrictions on vaccine after supply cuts
(DBN)

____________

PIIGS:

Conte Quits, Leaving Italy Adrift in the Midst of the Pandemic
(DBN)

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Brazil:

Brazil’s Bolsonaro Resists More Covid Aid But Vaccination Pace Is Key
(DBN)

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Hong Kong:

Hong Kong Enacts Second Lockdown in Kowloon For Covid Tests
(DBN)

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France:

France Won’t Delay Second Covid Vaccine Dose, Citing Risks From New Variants
(DBN)

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Germany:

German Act on The Further Development of Restructuring and Insolvency Law
(DBN)

On 1 January 2021 the Corporate Stabilisation and Restructuring Act (StaRUG) has come into force and introduced the new ‘Preventive Restructuring Framework’ in Germany
(DBN)

Merkel Says Pandemic Has ‘Slipped Out of Control,’ Bild Reports
(DBN)

Merkel's chief of staff triggers fierce debt-brake debate
(DBN)

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MENA:

Dubai seemed to have the coronavirus licked. Then it flung open its doors.
(DBN)

At U.N., Washington assures support for two-state solution in Middle East
(DBN)

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Netherlands:

Shops boarded up as Dutch brace for fourth night of coronavirus riots
(DBN)

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India:

Oaktree’s setback in India raises doubts over new bankruptcy code
(DBN)

India court says groping a child through clothes isn't sexual assault
(DBN)

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Russia:

G7 calls for peaceful Navalny protesters to be released by Russia
(DBN)

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China:

Peking University’s Tech Conglomerate Gets More Time for Bankruptcy Restructuring
(DBN)

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Australia:

Insolvency moratorium expires as covid-19 law changes ease
(DBN)

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Mexico:

Mexico's pandemic policy: No police. No curfews. No fines. No regrets.
(DBN)

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Argentina:

Argentina's YPF sweetens $6.2 bln debt offer after investor backlash
(DBN)

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