April 12, 2023

The Daily Bankruptcy News

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Law:

After Layoffs Last Year, Cooley Delays Start Date For First-Year Associates Cooley Delays Start Date for Incoming First-Year Associates
(DBN)

‘Desperate for lawyers,’ Maine considers alternative path to law license
(DBN)

Milbank bolsters Asia restructuring practice with new partner
(DBN)

U.S. News Law School Rankings Preview Is Here: Major Shakeup Or Much Ado About Nothing? Yale Law keeps top place in US News rankings preview—but it is tied with another school
(DBN)

Twitter Hires Skadden Lawyer as Musk Tackles Litigation
(DBN)

How Nixon Peabody’s Los Angeles Office Reached Its DEI Goals
(DBN)

First-time bar pass rate for Black candidates below 58%, ABA data shows
(DBN)

Is honking your car horn expressive conduct protected by First Amendment? 9th Circuit weighs in
(DBN)

Manhattan DA Bragg sues Rep. Jordan over House probe of Trump investigation Bragg sues Jim Jordan over ‘campaign to intimidate and attack’ DA Alvin Bragg Sues Rep. Jim Jordan For FEDERALISM, LOOK IT UP, DUDE! Rep. Jim Jordan falsely claims Manhattan DA admitted to using 'federal funds' to indict Trump
(DBN)

Former Trump adviser Stephen Miller appears at D.C. federal court where Jan. 6 grand jury meets
(DBN)

Trump fan gets 4-year sentence for hitting officers with a fire extinguisher on Jan. 6 Kansas City man involved in Capitol protests claims to be 'ridiculously ashamed' before sentencing DC Circuit spares DOJ ‘immediate disaster’ in Jan. 6 prosecutions but raises concerns about obstruction charges Trump Begs Appeals Court To Block Pence Testimony To Jan. 6 Grand Jury Ex-Trump, Hutchinson Lawyer Passantino Sues January 6 Committee
(DBN)

Will Trump attend his civil rape trial? Judge wants to know Trump ordered to disclose whether he'll show up to E. Jean Carroll trial: Will he have a choice? Trump Wants Rape Trial Delayed Amid Media Frenzy Over Indictment
(DBN)

Tina Peters, Trump Loyalist and Former Clerk, Is Sentenced in Obstruction Case Former Colorado county clerk sentenced to home detention and community service in obstruction case
(DBN)

‘Gang of Eight’ now has access to classified documents found at Trump, Biden and Pence homes
(DBN)

Schumer calls for all-senator briefing on leaked Ukraine documents Congress demands answers on classified document leak Online clues may narrow the search for the leaker of Pentagon war documents, U.S. officials say Leaked Pentagon Docs Share Wild Rumor: Kremlin Plans to ‘Throw’ Putin’s War While He’s Getting Chemo Factbox: What is known about latest leak of U.S. secrets
(DBN)

Many mass shooters acquire guns legally
(DBN)

Survey: Few doctors address gun safety despite more deaths among kids
(DBN)

One in five (21%) say they have personally been threatened with a gun, a similar share (19%) say a family member was killed by a gun (including death by suicide), and nearly as many (17%) have personally witnessed someone being shot.
(DBN)

An assault weapons ban might not end mass shootings. But it would help.
(DBN)

Popular handgun fires without anyone pulling the trigger, victims say
(DBN)

Louisville Killer Live-Streamed Attack Varsity Hoop Star-Turned-Banker Louisville gunman shot woman in back after she told him 'good morning': report Connor Sturgeon’s AR-15 used in Louisville shooting will be ‘back on the streets,’ mayor warns Tennessee governor calls for lawmakers to pass red flag law Disturbing New Details Emerge of Louisville Shooter’s Livestreamed Carnage Gunman Who Killed Five in Louisville Left Note and Bought Rifle Legally Louisville to hold vigil as fresh details of massacre emerge A rookie officer. An employee who had started a new chapter in life. These are the Louisville bank shooting victims
(DBN)

'I Am Sick And Tired': Fox News Contributor Calls For Action On Guns
(DBN)

Abortion pill alternative: Drug could be used if Texas mifepristone ban upheld Mifepristone ban jeopardizes abortion in states where procedure is legal: AGs The horrible ‘zombie law’ inside the Texas abortion pill ruling Abortion Pill Foe Urges US Appeals Court to Let Drug Be Pulled
(DBN)

White House announces increased sanctions to combat fentanyl trafficking
(DBN)

San Francisco Crime Crisis in Spotlight After Whole Foods Closure
(DBN)

12-year-old stole dad's car and drove 400 miles to allegedly meet person from online, officials say
(DBN)

Texas woman sent to prison for murder-for-hire plot against son and daughter-in-law
(DBN)

Lori Vallow on trial for killing her children refuses to see their bodies displayed
(DBN)

Woman convicted following racist rant against Colombia's first Black vice president
(DBN)

Man who killed 7 members of his family in murder-suicide blames his wife for everything
(DBN)

U.S.-Born Children, Too, Were Separated From Parents at the Border
(DBN)

Steven Tyler’s Teen Assault Defense Is ‘Insane,’ Legal Experts Say
(DBN)

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Judges:

Judge's abortion pill decision embraces extreme language and ideology of anti-abortion movement, experts say
(DBN)

Northwestern law prof’s federal case is ‘the definition of vexatious and wasteful,’ judge says in ordering sanction
(DBN)

Clarence Thomas Is as Free as Ever to Treat His Seat Like a Winning Lottery Ticket When Friends in High Places Sit on the Supreme Court 54 Years Ago, a Supreme Court Justice Was Forced to Quit for Behavior Arguably Less Egregious Than Thomas’s
(DBN)

Senate Judiciary Committee To Hold Hearing On Supreme Court Ethical Standards
(DBN)

Trump Judge Pulled Into Fight Between Jim Jordan, Alvin Bragg
(DBN)

Dianne Feinstein Is MIA, and Her Absence Is Holding Up Judicial Confirmations
(DBN)

Town justice should be removed for ‘remarkable array of misconduct,’ commission administrator says
(DBN)

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Wall Street:

Stock futures tick higher ahead of key March inflation data
(DBN)

Goldman Strategists Say Stock Volatility to Spike as Risks Mount
(DBN)

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Layoffs:

More tech employees should expect to lose their jobs even after 330,000 roles got wiped
(DBN)

Walmart chases higher profits powered by warehouse robots and automated claws
(DBN)

California Economy on Edge After Tech Layoffs and Studio Cutbacks
(DBN)

Biogen Lays Off More Employees Months After Slashing 900 Jobs
(DBN)

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Fraud:

Followers Describe Allure of Chinese Businessman Guo Wengui Charged With $1 Billion Fraud - WSJ
(DBN)

Elizabeth Holmes' purchase of a one-way flight to Mexico was a 'bold move,' judge says in ruling that denied her request to remain free on bail
(DBN)

Tech CEO who posed as dead uncle to steal millions from company gets years behind bars
(DBN)

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Accounting:

EY is shredding its plan to split its consulting and auditing businesses EY’s Failed Split Highlights Challenges of Partnership Model
(DBN)

Big Four’s Stormy Spring Resurrects Fear About Audit Quality
(DBN)

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Festivals:

This leaked Fyre Festival pitch deck shows how Billy McFarland was able to secure millions for the most overhyped festival in history
(DBN)

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Tech:

Several more companies are suing Twitter, claiming it owes them around $230,000 in unpaid bills and they don't know if they'll ever be paid
(DBN)

Elon Musk’s weekend antics could only further crumble Twitter’s brand value
(DBN)

Elon Musk declares his dog Floki is Twitter CEO
(DBN)

Musk Says Most Twitter Advertisers Have Returned as Profit Nears
(DBN)

Elon Musk Proves His Commitment To New Strategies By Hiring A 4th Year Lawyer To Head The Legal Side Of Twitter
(DBN)

AI bot, ChaosGPT, tweets out plans to ‘destroy humanity’ after being tasked
(DBN)

China to require 'security assessment' for new AI products: draft law
(DBN)

Biden Administration Weighs Possible Rules for AI Tools Like ChatGPT - WSJ
(DBN)

Barry Diller Thinks Publishers Should Sue Over Generative AI
(DBN)

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Cosmetics:

Forma Brands emerges from bankruptcy, names new CEO Forma Brands Emerges From Bankruptcy With Former Outdoor Voices CEO Leading Company
(DBN)

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Water:

LA, Vegas could face huge water cuts in feds' proposed Colorado River plan Biden admin sidesteps painful decisions for Colorado River cuts White House Proposes Evenly Cutting Water Allotments from Colorado River
(DBN)

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Economy:

70% of Americans are feeling financially stressed, new CNBC survey finds Almost 6 in 10 living paycheck-to-paycheck: survey
(DBN)

Fed Officials Signal Divide Over Whether to Hike Rates Again
(DBN)

Fed’s Harker Is Prepared to Do More If Needed to Curb Inflation
(DBN)

Fewer Americans say inflation is top concern facing family: poll
(DBN)

The Top Ten Job Streaks: Current Streak is in 9th Place
(DBN)

Wage Growth for Lowest Paid Falls Sharply
(DBN)

More Employment Graphs: Duration of Unemployment, Unemployment by Education, Diffusion Indexes
(DBN)

A credit crunch is coming for the US that'll tip the economy into recession, 'Dr. Doom' economist Nouriel Roubini warns
(DBN)

IMF says world economy entering "tricky" phase I.M.F. Lowers Growth Outlook Amid Financial System Tremors IMF: It is too early to calm down, as there may still be threats to the financial system
(DBN)

Janet Yellen says the economy looks 'bright.' The IMF sees 'turbulence.'
(DBN)

3 signals that show a US recession is farther away than most investors think
(DBN)

Elite investor Jeremy Grantham predicts stocks will tumble, recession will strike, and inflation will persist. Here are his 9 best quotes from a new interview.
(DBN)

People are ticked that delivery drivers complained about stingy tips in a viral New York Times article. Here are the 5 main reasons people don't think they should tip more.
(DBN)

Russia's economy is confusing the world's top forecasters, who can't agree if it's expanding or contracting How Russia's large-scale war efforts have warped the country's economy, according to top scholars The price cap on Russian oil seems to be working Russia’s Murky Measures Keep Its Oil Flowing Despite Sanctions
(DBN)

Americans are now working fewer hours than before the pandemic
(DBN)

The Top 25 Entry-Level Jobs for College Grads in 2023
(DBN)

A third of Americans said they avoid crowded venues like music festivals and clubs to avoid mass shootings, new study finds
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Office space available for rent hits new record high
(DBN)

MBA: Mortgage Applications Increased in Weekly Survey Homebuyer mortgage demand jumps after interest rates drop to two-month low
(DBN)

Newsom seeks to punish California city for refusing to adhere to housing laws
(DBN)

American Dream Mall Lenders Owed $389 Million Can Collect, Judge Says
(DBN)

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Municipalities:

PREPA bondholders want 100%, Oversight Board says 0.21% or less
(DBN)

Bankrupt Chester could cease to exist as a city without fiscal change, state receiver says ‘Absolute worst case scenario’: City of Chester’s finances so bad it could be disincorporated and cease to exist as a city
(DBN)

Some Detroit retirees say bankruptcy concessions have been devastating
(DBN)

What's next for Highland Park after the city's ordered to pay multi-million dollar water bill debt Highland Park seeks help from Whitmer over $19.8 million GLWA bill Highland Park seeks bailout from state to pay multi-million dollar water bill
(DBN)

Bank ends naming rights deal with troubled Arizona sports venue
(DBN)

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Oil/Gas:

Ford to invest $1.3 billion to build EV manufacturing hub in Canada
(DBN)

Why Are Taxpayers Propping Up the Fossil Fuel Industry?
(DBN)

Faster electric vehicle adoption may accelerate credit risk, Moody's says
(DBN)

Biden’s Toughest-Ever Auto Pollution Crackdown to Drive EV Sales
(DBN)

Swelling Oil Inventories Show the Scale of OPEC+ Battle Despite Cuts
(DBN)

‘Entering the clean power era’: Wind and solar generated a record amount of global power in 2022
(DBN)

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Politics:

Trump's 27-minute speech in Mar-a-Lago after his arrest sounded like a man 'griping to you about his bad divorce,' Chris Christie says
(DBN)

Trump pours money into digital ads ahead of 2024
(DBN)

What's next for the Tennessee House lawmakers who were expelled The GOP Kicked Justin Jones Out of the Tennessee House. Two Days Later, He’s Back How redistricting brought Tennessee to this moment Judges block Tennessee move to cut Nashville council in half
(DBN)

Advocates plan for battle as DeSantis preps ‘Don’t Say Gay’ expansion
(DBN)

Trump's camp is trying to force Ron DeSantis to resign and formally declare a 2024 run, accusing the governor of 'taxpayer-funded globetrotting'
(DBN)

Florida GOP legislator calls transgender people ‘mutants’ and ‘demons’ during hearing Florida Republican apologizes after calling transgender people ‘mutants'
(DBN)

Trump widens lead over DeSantis to 33 points in new survey
(DBN)

Schumer to corner GOP on Trump call to "defund" DOJ and FBI
(DBN)

The GOP's runaway train on abortion Can the FDA just ignore the Texas abortion pill ruling? Some lawmakers think so Pressured by Their Base on Abortion, Republicans Strain to Find a Way Forward
(DBN)

Half in new poll say Biden policies have not helped middle class at all
(DBN)

Anti-‘Groomer’ Republican Accused of ‘Inappropriate Relationship’ With Intern
(DBN)

Kansas GOP Bill Authorizes Genital Exams of Schoolchildren, Critics Say
(DBN)

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Coal:

US coal plant contribution to electric grid plummets to smallest in history: report
(DBN)

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Education:

Texas Officials Would Rather Close Library Than Stock Books They Don’t Like
(DBN)

Oklahoma board rejects first taxpayer-funded religious school in US
(DBN)

Middle school teacher let students fight, pulled them out of other classes to brawl: Deputies
(DBN)

More than a third of teachers work extra jobs, survey says: 'I've considered declaring bankruptcy'
(DBN)

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Retailing:

Bed Bath & Beyond: Business Decline, Bleak Prospects And Likely Bankruptcy
(DBN)

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Kitchenware:

Food storage brand Tupperware warns it could go out of business
(DBN)

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Movie Theaters:

National CineMedia Files for Chapter 11 Bankruptcy In-theater advertiser National CineMedia files for Chapter 11 bankruptcy
(DBN)

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Bankruptcy Crimes:

Former pastor sentenced for misapplying federal funds and bankruptcy fraud
(DBN)

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Food/Beverage:

Bankrupt Burger King franchisee Meridian closes 27 restaurants
(DBN)

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Transit:

Self Driving Taxis Terrorizing Transit Operators
(DBN)

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Water:

Rich People Are Causing Urban Water Shortages
(DBN)

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Private Equity:

Private Equity’s Latest Money-Making Trade: Buying Its Own Debt
(DBN)

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New Bankruptcy Opinions
(9 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (6 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (17 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 Statistics:

U.S. bankruptcies climbed in March, with SVB Financial Group leading the pack
(DBN)

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Mass Torts:

J&J talc unit faces skepticism on bankruptcy settlement support J&J Unit Says Cancer Victims Who Won’t Settle Seek to Block $8.9 Billion Deal Johnson & Johnson’s Second Talc Bankruptcy Advances Past First Hearing - WSJ J&J Talc Unit Defends Latest Bankruptcy Settlement Bid Johnson & Johnson Should Comfortably Handle Talc Risks
(DBN)

Baby Powder, Bankruptcy and the Texas Two-Step
(DBN)

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Abstention:

Abstention Trumps the Barton Doctrine in the Fourth Circuit
(DBN)

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Appeals:

Late Appeals and Excusable Neglect: A Curious Case Where a Court Gives an Individual a Break
(DBN)

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Automatic Stay:

Can You Chat Your Way to Relief from Stay?
(DBN)

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Aviation:

Mexico's Interjet Is Formally Declared Bankrupt Interjet Forced to Sell Assets
(DBN)

Virgin Orbit seeking expedited bankruptcy sale How the collapse of Virgin Orbit means Richard Branson's space dreams have crashed to Earth
(DBN)

African Airlines Face Further Losses After Decade-Long Slump
(DBN)

Wasted Plane Traveler Groped Seatmate, Told Her ‘We’re All Going to Die,’ Feds Say
(DBN)

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Crypto:

Bankruptcy Trading Platform Xclaim Closes $7M Round as It Adds Crypto Focus
(DBN)

The Winklevoss twins have lent $100 million of their own money to keep their Gemini exchange afloat as venture funding slows
(DBN)

Bankrupt FTX Japan may reopen soon before the auction
(DBN)

US crypto miner Core Scientific appoints new president amid bankruptcy Core Scientific debtors petition bankruptcy court to approve new president
(DBN)

Core Scientific debtors petition bankruptcy court to approve new president
(DBN)

IMF reiterates call for crypto regulation after the ecosystem's ‘rough year’
(DBN)

Committee Advises SEC to 'Aggressively Assert Authority' Over Crypto — Says Virtually All Crypto Tokens Are Securities
(DBN)

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Autos:

Nearly half of Americans say it’s unlikely they’ll buy an electric vehicle next
(DBN)

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Banking:

Banks in ‘more precarious situation’ creating risks for global growth, IMF chief economist warns
(DBN)

These lawmakers traded bank stocks amid the banking crisis
(DBN)

Bank failures start getting cited as risk factors after SVB collapse
(DBN)

Fed’s Meeting Minutes to Detail How Officials Weighed Bank Risks
(DBN)

Fed’s Kashkari Sees Signs of Calm Restored to Banking Sector
(DBN)

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Student Debt:

Could Biden extend the student loan pause again?
(DBN)

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Climate:

Slow and steady wins the climate race
(DBN)

Seas have drastically risen along southern U.S. coast in past decade
(DBN)

Proxy Season May See More Wall Street Rejection of Climate Proposals
(DBN)

Biden’s Climate Law Exposes Mispriced Assets Due for Writedowns
(DBN)

CO2 Emissions From Electricity May Have Already Peaked as Wind and Solar Take Over
(DBN)

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Healthcare:

Ketamine clinics emerged across USA. They're already going bust
(DBN)

Pear Therapeutics Files For Bankruptcy And Plans For Asset Auction In May
(DBN)

Google drops vaccine requirement to enter buildings, says ‘world is in a very different place’
(DBN)

Cancer patients are facing a life-threatening shortage of several crucial medications
(DBN)

Misinformation contributing to lower life expectancy in US, FDA chief says
(DBN)

NYC life expectancy plunges 4.6 years
(DBN)

Sexually transmitted infections hit record high in 2021, CDC finds
(DBN)

Biden signs bill ending Covid-19 national emergency
(DBN)

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Catalogs:

Catalog company AmeriMark files for Chapter 11 bankruptcy protection
(DBN)

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Celebs:

Katie Price's bankruptcy hearing postponed for fifth time Katie Price flogs her used designer heels ahead of bankruptcy hearing
(DBN)

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Sovereigns:

The ‘rift is there’: China vs. the world on global debt
(DBN)

China, World Bank Exploring Solutions to Debt-Distress Deadlock
(DBN)

China Will Support Sri Lanka’s Debt Rework, Weerasinghe Says
(DBN)

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UK:

Adler Wins €6 Billion Debt Revamp Despite Opposition
(DBN)

Britain’s Remortgaging Pain Is Only Getting Started
(DBN)

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Canada:

Court applies Redwater principles outside formal bankruptcy proceedings
(DBN)

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Russia:

Russian paratroopers are getting thermobaric tank-mounted 'flamethrowers' to make them more deadly after a string of failures, UK intel says
(DBN)

A former Russian military intelligence officer defected to Ukraine and is setting up his own battalion of dissidents
(DBN)

Dwindling weapons, leaked Ukraine-Russia docs raise pressure on US government
(DBN)

Blinken reassures Ukraine of ‘ironclad’ support after bruising leaks
(DBN)

Leaks show Egypt sought to covertly ship rockets to Russia: report
(DBN)

Ukraine agents pursued attacks inside Belarus and Russia, leaked U.S. docs say
(DBN)

Russia boasted UAE ties in leaked intelligence docs
(DBN)

____________

MENA:

U.S. tries to reassure Israel about security relationship after Pentagon leak: Officials
(DBN)

Security and political crises in Israel converge to create a perfect storm
(DBN)


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Australia:

Australia’s unfair preference laws
(DBN)

‘Sensible option’: More looking into bankruptcy as financial stress rises
(DBN)

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