April 17, 2023

The Daily Bankruptcy News

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Law:

Another BigLaw firm says any associate job cuts are due to performance evaluations
(DBN)

Elite Biglaw Firm Goes Out Of Its Way To Reassure First-Year Associates Their Jobs Are Safe
(DBN)

Another Biglaw Firm Resorts To Bonus Threats To Get Attorneys Back To The Office
(DBN)

Is 'Batshit Crazy' The Technical, Legal Term For A Client?
(DBN)

Dominion's case against Fox News goes to trial this week. Is the First Amendment really on the line? America braces for historic trial between Dominion and Fox News See what Fox News tried to redact in the Dominion defamation case
(DBN)

Trump Attorney Compelled to Testify Recuses from Mar-a-Lago Work
(DBN)

Charted: Trump’s web of indicted allies
(DBN)

Judge Won't Give Trump Juror's Names 'Serial, sexual predator': Trump trawls online comments sections in bid to unmask anonymous jurors
(DBN)

After Pissing Off Every Federal Judge In DC, Peter Navarro Will Finally Have To Cough Up Government Docs He Stole
(DBN)

South Dakota's governor says her 2-year-old granddaughter 'already' has several guns
(DBN)

The man accused of killing CashApp founder Bob Lee made a 'planned and deliberate attack,' prosecutors allege What we know about Nima Momeni, the tech consultant charged with murder in the stabbing of Cash App creator Bob Lee Cash App founder was fatally stabbed after argument about suspect's sister, court docs show Bob Lee’s Fatal Stabbing Was ‘Planned and Deliberate,' San Francisco DA Says
(DBN)

Graham "stunned" alleged Pentagon leaker had access to classified intel Graham Calls for People to Be ‘Fired’ Over US Intelligence Leak Who is Jack Teixeira, the accused Pentagon leaker Far Right Hails Teixeira as a National Hero Lindsey Graham slams Marjorie Taylor Greene for defending leak of classified documents Marjorie Taylor Greene fires back at Lindsey Graham by posting Photoshopped pic of senator hoisting a Bud Light with trans influencer’s image A new kind of leaker: Spilling state secrets to impress online buddies How the Feds Found the Pentagon Leaker
(DBN)

Supreme Court blocks lower court rulings restricting abortion pills The Supreme Court hits pause on the abortion pills lawsuit Justice Alito keeps full access to mifepristone in place pending briefing next week Why a 19th-century law is at center of abortion pill fight Can the 19th Century Law That Banned Walt Whitman Also Ban Abortion by Mail? Concerns that Texas abortion ruling will upend FDA authority are ‘totally alarmist’: Sen. Cassidy Florida's upcoming 6-week abortion ban will disproportionately impact Latina and Black women, advocates say Sen. Tim Scott vows to sign the 'most conservative, pro-life legislation' if elected president Mace says overturning Roe ‘changed the entire electoral environment’ in 2022 Graham questions Texas judge’s abortion pill ruling Protesters gather at Supreme Court to blast judge’s abortion pill ruling Mifepristone and the rule of law, part III - The Fifth Circuit's decision is wrong too
(DBN)

Is Trump immune in defamation suit over rape denial? It’s too soon to decide, top DC court says Another Day, Another Desperate Trump Plea To Delay E. Jean Carroll Defamation Suit
(DBN)

Trump’s House GOP allies take fight to Manhattan DA’s turf
(DBN)

Undoing Democracy
(DBN)

The Dominion vs. Fox defamation case is finally going to trial Fox News-Dominion Defamation Trial Delayed By Judge Fox News pushes Dominion to settle mammoth defamation lawsuit as judge delays trial, multiple sources report Fox News-Dominion Defamation Trial Delayed; Speculation Of Settlement Talks; Judge To Reveal More On Monday Fox News Is on Trial, and So Are Falsehoods About 2020 Fox News apologizes to judge in defamation case for failing to disclose Rupert Murdoch’s role at the network A ’60s magazine’s election hit job is a warning for Fox News vs. Dominion
(DBN)

Texas soldier convicted of BLM protest murder (and who Gov. Abbott wants to pardon) posted racist remarks online
(DBN)

Jan. 6 Rioter Gets 7 Years Ex-Capitol Cop Sentenced for Jan. 6 Actions
(DBN)

Shooting at Alabama birthday party kills 4 people, wounds 28 A shooting at an Alabama birthday party happened blocks from the local police station
(DBN)

2 Dead, 4 Wounded at Mass Shooting in Louisville
(DBN)

Motive in Nashville shooting remains unclear weeks after 6 people were killed at a Christian school
(DBN)

Mom of Virginia 6-year-old who shot his teacher was depressed, attorney says
(DBN)

Trump says mass shootings are not 'a gun problem' as 2024 GOP hopefuls pledge loyalty to the NRA
(DBN)

U.S. Capitol Police confiscate assault rifle outside of Capitol grounds
(DBN)

Video shows police at wrong house before fatal shooting of homeowner in New Mexico
(DBN)

Racist text messaging investigation rocks Northern California police department
(DBN)

Man gets 70 years behind bars for spitting on Texas cops
(DBN)

Cold case arrest: Man allegedly murdered 18-year-old in 1981 just days after she graduated from high school
(DBN)

City pays nearly $9 million to settle cases showing Derek Chauvin kneeling on necks of Black people
(DBN)

Meet the Viral Sheriff Who Took on Florida Nazis
(DBN)

Hundreds of teenagers flood into downtown Chicago, smashing car windows, prompting police response Hundreds of teens cause fiery chaos in Downtown Chicago as they torch cars in rampage organized on social media 2 boys shot, several people arrested as another ‘large group’ overwhelms Chicago police in the Loop
(DBN)

FL could execute child rapists under measure approved by the state House
(DBN)

Alec Baldwin wants 'misguided' lawsuit filed by Halyna Hutchins' parents and sister dismissed
(DBN)

Hundreds Turn out To Denounce Texas Republicans’ “vigilante Death Squads Policy”
(DBN)

Biden administration announces plan with Mexico to fight fentanyl and firearms El Chapo's sons among 28 Mexican cartel members charged by DOJ in fentanyl crackdown Mexican drug lord's sons, the 'Chapitos,' indicted in far-flung fentanyl conspiracy US Claims El Chapo’s Sons Fed People to Tigers
(DBN)

Parody hitman website nabs Air National Guardsman after he allegedly applied for murder-for-hire jobs
(DBN)

Black teen shot in head after ringing wrong doorbell while trying to pick up siblings
(DBN)

Andrew Gillum was almost elected Florida governor. Now he’s on trial in federal court
(DBN)

Determined to Flee China, Thousands Take Route to Southern U.S. Border - WSJ
(DBN)

Thieves steal homes, leaving victims with a legal nightmare. There’s relief on the way.
(DBN)

A man who threatened Merriam-Webster over gender-inclusive definitions was sentenced to prison
(DBN)

______________

Judges:

Billionaire who treated Justice Thomas to vacations also bought property from him and his relatives Sorry everyone, but Clarence Thomas can take undisclosed money from whomever he wants and there is little to be done about it Clarence Thomas’ Mom Definitely Still Lives in the House the Billionaire Bought Clarence Thomas has for years claimed income from a defunct real estate firm Clarence Thomas reportedly has been claiming thousands of dollars annually from a shuttered real estate firm Political Megadonor Wants Us To Believe He Bought And Improved Justice's Mom's House Off The Record Because Of History Or Something Is Clarence Thomas Clueless? Some Questions He Should Answer Thomas Should Follow Fortas Lead and Resign
(DBN)

The Supreme Court takes up a messy, chaotic case about religion in the workplace
(DBN)

The controversial article Texas federal judge Matthew Kacsmaryk did not disclose to the Senate Sen. Baldwin says Texas judge is part of GOP's 'effort to ban abortion nationwide' For better or worse, Ron DeSantis now owns Florida's six-week abortion ban
(DBN)

Florida Court Removes Parkland Judge from Case
(DBN)

The Long Hard Task Of Changing The Fifth Circuit
(DBN)

______________

Wall Street:

Stock futures climb as Wall Street awaits more big bank earnings
(DBN)

Bank Stress, Inflation and Rising Recession Odds Fail to Sway Stocks
(DBN)

______________

Layoffs:

Weight-Loss Telehealth Startup Calibrate Health Cuts 18% of Jobs
(DBN)

David's Bridal to lay off more than 9,000 employees nationwide
(DBN)

Google CEO Sundar Pichai Hints At More Layoffs At The Tech Giant
(DBN)

Cyber unicorn Snyk sacks another 128 employees
(DBN)

Marin-based furniture retailer RH announces 440 layoffs
(DBN)

______________

Transit:

Raleigh bikeshare service abruptly shuts down as vendor files bankruptcy
(DBN)

____________

Tech:

EyeEm, once Europe’s challenger to Instagram, files for bankruptcy
(DBN)

Elon Musk's Twitter is Dying Why Elon Musk Keeps Making Twitter Worse Twitter Is Broken. Thanks, Elon Ex-Twitter Workers: Musk Can't Fix This Is the bird really freed? A look back at six months of Musk’s Twitter reign Elon Musk Claims the US Government Had ‘Full Access’ to Your Private Twitter DMs: ‘Blew My Mind’ SpaceX, Tesla Get More Fed Money Than NPR
(DBN)

Trump reports little income from Truth Social in first financial disclosure since leaving office
(DBN)

Montana on cusp of becoming first state to block TikTok downloads
(DBN)

Google CEO Sundar Pichai warns society to brace for impact of A.I. acceleration Google CEO Warns Against Rush to Deploy AI Without Oversight
(DBN)

Biden and Congress want to ban TikTok. At this point it may be impossible.
(DBN)

Local school districts file lawsuit; claims social media causes mental health crisis
(DBN)

____________

Guaranties:

Personal Guarantors Back on the Hook as New York City’s “Guaranty Law” is Ruled Unconstitutional
(DBN)

____________

Autos:

Faraday Future delays FF91 deliveries (again), says it needs “substantial additional financing” (again)
(DBN)

New kings of the road
(DBN)

____________

Utilities:

CA Electric Bills Based on Income?
(DBN)

____________


Economy:

Credit crunch fears are taking hold, fueling concerns of a crippling US recession
(DBN)

Yellen Says Slow Pullback on Lending Could Do Some of Fed’s Work
(DBN)

Bank Earnings to Give Further Insight to Recession Question
(DBN)

BlackRock's Larry Fink says there's no big recession headed for the US economy, but inflation will be 'stickier for longer'
(DBN)

US Economy Is Cooling Steadily as Consumers, Factories Pull Back
(DBN)

IMF chief says global economy mired in weak growth, sticky inflation
(DBN)

The real reason prices aren’t coming down
(DBN)

ECB’s Lagarde Says She Can’t Imagine US Will Default on Its Debt Democratic senators favor forcing House vote on debt limit increase Tax Day Cash Will Indicate Just How Close the US Is to Default
(DBN)

McCarthy’s pitch to shrink food aid drawing skepticism from fellow Republicans
(DBN)

America is not ready for retirement
(DBN)

In NYC and SF, You Need a $300,000 Salary to Take Home $100,000 After Taxes
(DBN)

My company is making us go back to the office 2 days a week to boost morale — but no one wants to be there
(DBN)

A baby boomer who quit his 6-figure job rather than return to the office says managers are threatened by remote work and just want people back so they can see them working
(DBN)

This is the No. 1 state for working from home, according to new research
(DBN)

Chamber of Commerce competitor launches Barr-backed regulation fight
(DBN)

World Economic Chiefs See Risks Rising While Banks Are Resilient
(DBN)

Gen Zs don’t have a lot of money, but they’re traveling anyway
(DBN)

Public and Private Sector Payroll Jobs During Presidential Terms
(DBN)

Income to be Middle Class in Largest US Cities Here’s what it takes to be middle class
(DBN)

SoCal Freight Demands Plummet From 2019
(DBN)

Russia's economy is hurting - and a new wave of EU sanctions aimed at crippling its 'war machine' are coming Cape Verde Becomes the Latest Location for Russian Oil Switching
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

Landlords pumped billions into apartment buildings during the pandemic. That bet could now go horribly wrong.
(DBN)

Landlords Ruffled by Tuesday Morning's Auction Await Judge's Ruling
(DBN)

Cities with the Most Office Vacancies
(DBN)

Here's why a potential crash in the commercial real estate market could look a lot like the 2008 crisis, according to one CEO
(DBN)

Wells Fargo Warns of More Office-Market Stress on the Horizon
(DBN)

LA Banned Rent Hikes During The Pandemic. But Complaints Are Higher Than Ever
(DBN)

'Trapped': How federally backed financing is making mobile homes less affordable
(DBN)

Affiliate of American Dream Mall owner ordered to pay junior lenders
(DBN)

Banyan Cay Resort in West Palm Beach files Chapter 11: Could a sale take place soon?
(DBN)

____________

Municipalities:

PREPA judge sets claim estimation procedures
(DBN)

Q&A: Gerald Rosen on judge role in Detroit bankruptcy, 'Grand Bargain'
(DBN)

Reedy Creek finds ‘no records exist’ for Moody’s probe into Disney agreements
(DBN)

____________

Oil/Gas:

World Gas Supply Shifts From Shortage to Glut With Demand Muted
(DBN)

Fuel That Powers the Global Economy Is Flashing Recession Signs
(DBN)

The $25,000 EV is coming, with big implications for car makers and buyers
(DBN)

____________

Ride Hailing:

There Is Something Very Wrong at Uber
(DBN)

____________

Water:

What might Colorado River cuts mean for states and their water supplies?
(DBN)

____________

Cannabis:

California's small cannabis growers face extinction as taxes, bills and snow pile up
(DBN)

____________

Education:

Largest Catholic University in US Faces $56 Million Budget Gap
(DBN)

Texas Senate passes school library bill meant to keep “harmful” materials off shelves
(DBN)

Texas county will keep library system open and comply with judge's order to put banned books back in circulation
(DBN)

Texas school district fires substitute teacher accused of encouraging students to fight
(DBN)

Florida teacher shows pro-Confederacy video that rebrands Civil War as 'War To Prevent Southern Independence'
(DBN)

____________

Healthcare:

COVID Apr 14, 2023: Update on Cases, Hospitalizations and Deaths
(DBN)

Millions expected to lose dental care coverage after Medicaid review
(DBN)

Missouri to limit gender-affirming care for minors and adults
(DBN)

Abortion Pill Access In 2023: A Timeline
(DBN)

____________

Crypto:

'The Dumpster Fire Is Out:' Attorneys for Bankrupt FTX Consider Restarting Exchange
(DBN)

Celsius reportedly prepping litigation against creditor for leaking internal info
(DBN)

75% of Americans don’t trust crypto—and nearly half of traders say their investments have performed worse than expected
(DBN)

US crypto exchange Bittrex faces potential action from SEC: Report
(DBN)

Sweden Kills Bitcoin Mining Industry with Tax
(DBN)

Do Kwon Sent Millions to Lawyers Before Collapse, KBS Reports
(DBN)

____________

Banking:

Bailout Blues: The Write-Down of the AT1 Bonds in the Credit Suisse Bailout
(DBN)

MUFG Clients Lost $700 Million in Credit Suisse AT1 Wipeout
(DBN)

Federal Reserve Backs UBS Purchase of Credit Suisse US Units
(DBN)

A free market no more? Rules of the game have changed after banking crisis, some say
(DBN)

Global regulators consider wider net to catch smaller US banks
(DBN)

Warren Buffett wants CEOs of failed banks to live like they ‘work on a Ford production line’ and give back their pensions and salaries
(DBN)

Bond Traders to Scour Bank Results for Signs of Increased Stress
(DBN)

Increase in US Bank Loans and Deposits Signal Some Stability
(DBN)

PNC’s Trimmed Revenue Forecast Isn’t a Good Sign for Regional Banks
(DBN)

Credit Suisse fund outflows widen to $5.6 billion following UBS tie-up
(DBN)

____________

Retailing:

'We're going to see a lot of bankruptcies': Ex-Home Depot CEO issues grim warning over America's 'very complex' market as big box stores like Bed Bath and Beyond fold and major employers like Walmart shut stores and layoff staff
(DBN)

Engaged Couples Issue Verdict on Bed Bath & Beyond
(DBN)

David’s Bridal files for Chapter 11 bankruptcy as it looks for buyer America's largest wedding gown retailer David's Bridal - which boasts of selling one in three dresses - to lay off 82 percent of its 11,000 workforce as peak season for nuptials approaches
(DBN)

____________

Celebs:

Katie Price says ‘big things are coming’ after avoiding bankruptcy hearing Katie Price Skips Bankruptcy Hearing As Debt Continues To Loom
(DBN)

32 Embarrassing Celebrity Bankruptcy Scandals
(DBN)

____________

Food/Beverage:

Has Burger King become the Nightmare King? Chain faces 'death spiral' Full list of 26 Burger King branches closing abruptly after other franchises file for bankruptcy Burger King franchise with 118 restaurants files for bankruptcy after accruing debts of $14 million triggering closures across six states Is America falling out of love with the beef burger? Legendary Iowa fast food joint 2 MIT closes its doors after four decades - days after hundreds of Burger King franchises shuttered and blamed 'soaring costs' Burger King is selling more Whoppers than ever before in early days of its U.S. turnaround
(DBN)

____________

Agribusiness:

Judge approves request to hire attorneys, accountants in Garcia Grain bankruptcy
(DBN)

____________

 


New Bankruptcy Opinions
(7 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (24 new filings today)
(DBN)

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

Bankruptcy Code (html) - Bankruptcy Code (pdf) Prior BK Codes (pick year from list) - Bankruptcy Rules
(large downloads)

UCLA-LoPucki Bankruptcy Research Database
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

Global business insolvencies expected to rise in 2023, 2024: Allianz Trade
(DBN)

The 25 Biggest Bankruptcies in American History
(DBN)

______________

Mass Torts:

$9.3M in church bankruptcy legal fees
(DBN)

____________

Debtor Reporting:

Enhancing the Chapter 11 Reporting Process: An Update on the New MORs and PCRs
(DBN)

____________

Intercreditor:

Another Failed Liability Management Exercise. Part III (Serta Simmons)
(DBN)

____________

Avoidance Actions:

Avoiding Debt Obligations As Fraudulent Transfers? (Kartzman v. Latoc)
(DBN)

____________

Successor Liability:

Successor Liability Theory in Insolvency Law
(DBN)

____________

Bankruptcy Crimes:

Former Champaign, Illinois, Pastor Sentenced to 10 Months of Imprisonment for Misapplying Federal Funds and Bankruptcy Fraud
(DBN)

____________

Aviation:

Virgin Orbit was a promising company that could never find a working business model
(DBN)

SAS Reports Better Liquidity, Won’t Use Second Tranche of Bankruptcy Loan - WSJ
(DBN)

Private Jet Travel in Sharp Decline
(DBN)

____________

Climate:

Climate-displaced Americans face discrimination
(DBN)

Unsound climate studies sneak into print: scientists
(DBN)

Banks say they’re acting on climate but continue to finance fossil fuel expansion
(DBN)

G-7 Agree to Fossil Fuel Phase-Out Without Coal Exit Deadline
(DBN)

G-7 Agrees to Accelerate Phase-Out of Unabated Fossil Fuels
(DBN)

Drought Is Parching Crops Across Southern Europe for Second Year
(DBN)

California’s ‘big melt’ has begun and could bring perilous flooding with it Thousands of acres are underwater in California, and the flood could triple in size this summer
(DBN)

____________

Politics:

Trump made up to $160 million from foreign countries as president Trump’s Business Empire Is Worth at Least $1.2 Billion Since He Left Office
(DBN)

Kemp makes case for anyone but Trump in 2024
(DBN)

Trump's flat fundraising and Haley's big donors: Takeaways from the 2024 money chase Trump’s Indictment Sparked $15.4 Million Fundraising Bonanza
(DBN)

Chris Christie: Trump investigations make GOP primary win ‘uncertain’
(DBN)

GOP donor retreat for 2024 hopefuls collides with Tennessee expulsions fallout
(DBN)

DeSantis super PAC strafes Trump in first TV ad Dueling Ads Portray DeSantis as a Hero of the Right or Enemy Plotting to Cut Medicare DeSantis plans to unveil new crackdown against Disney after 11th-hour coup
(DBN)

Defiant Santos to announce reelection campaign George Santos campaign finance disclosure shows more refunds to donors than contributions
(DBN)

Virginia's rising star GOP Governor Glenn Youngkin pauses plans to enter 2024 White House race
(DBN)

Mike Pence Booed at NRA Event
(DBN)

Tim Scott Has $22 Million to Test Waters for Presidential Run
(DBN)

Biden says he will announce his 2024 plans 'relatively soon' Biden’s poll numbers look grim as he preps for reelection bid
(DBN)

Feinstein Needs to Decide Her Future in Senate, Klobuchar Says
(DBN)

Wealthy investors, PACs and big GOP donors fill Sinema’s campaign
(DBN)

The GOP Is Making It Harder for College Students to Vote
(DBN)

____________

Sovereigns:

IMF Awaits More Egyptian Reforms Before Its First Program Review
(DBN)

China Giving ‘Positive Signs’ on Debt Deadlock, G-20 Chair Says China says ready to work with all parties on debt disposals, seeks more IMF data
(DBN)

Argentina To Rework $44 Billion IMF Deal as Drought Hits Economy
(DBN)

IMF Seeks More Funding Assurances Before Pact on Pakistan Aid
(DBN)

Suriname Nears Key Restructuring Deal After Years in Default
(DBN)

Zambia Central Bank Chief Downplays Hopes of Debt Deal Next Week
(DBN)

SL’s major bilateral creditors launch debt restructuring talks Sri Lanka's bondholders send debt rework proposal to government, sources say China in close communication with Sri Lanka on debt restructuring Sri Lanka Assures ‘Comparable Treatment’ To All Its Creditors
(DBN)

Ghana deserves decent deal from creditors on debt restructuring Financing assurance from external creditors only pre-condition left for Ghana’s programme to be approved
(DBN)

____________

UK:

Orient Express to axe UK section after 41 years due to Brexit
(DBN)

UK Says Offer to Health-Care Staff Final as Nurses Plan Strikes
(DBN)

Struggling UK High-Street Lender Everyday Loans to Swap Debt for Equity
(DBN)

____________

EU:

ECB’s ‘Strong Consensus’ to Hike Leaves Door Open to Half-Point ECB’s Villeroy Repeats View That Rate-Hiking Cycle Nearing End ECB’s Nagel Says It’s ‘Certainly Too Soon to Stop Raising Rates’
(DBN)

____________

Australia:

High Court Kicks Off 2023 with Landmark Insolvency Rulings
(DBN)

Australia holds the line on priorities between successive trustees
(DBN)

____________

Russia:

Russia’s UN council presidency is most contentious in memory
(DBN)

One of the most prolific pro-Russia propaganda channels is run by a former US Navy officer living in Washington
(DBN)

Putin Critic Jailed for 25 Years in Harshest Anti-War Ruling Yet
(DBN)

____________

Mexico:

Gunmen attack Mexico resort, killing 6 adults and a child
(DBN)

____________

Sudan:

Fighting Breaks out In Sudan Between Army, Paramilitaries At least 56 killed, 595 wounded in Sudan fighting, doctor group says Sudan's Decline to Have Global Repercussions
(DBN)

____________

France:

Victory for Macron as France's constitutional council approves higher pension age Macron signs strongly contested pension bill into French law
(DBN)

____________

Singapore:

Bankruptcy applications increase by 20% in Q1 2023, with almost 1,000 new filings this year
(DBN)

____________

MENA:

Dubai court orders KPMG to pay a whopping $231 million for Abraaj audit failure
(DBN)

Israeli judicial reforms still on hold, Netanyahu says
(DBN)

____________

India:

Preserving the IBC’s rationale: The Tussle with the Benami Act
(DBN)

____________

China:

China's exports unexpectedly rise, but economists warn of weakness ahead
(DBN)

Evergrande Billionaire's Car Firm Wanted to Beat Tesla — Now It's Struggling to Survive
(DBN)

____________

South Korea:

Korea’s financial authorities to expand saving bank checks to prevent insolvency
(DBN)

____________

Cayman Islands:

Checking the Lifeboat - Cayman Islands Consensual Restructuring Strategies
(DBN)

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