April 6, 2023

The Daily Bankruptcy News

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Law:

Biglaw Firm Lays Off 10% Of Its Workforce, May Defer Incoming Associates 10% of lawyers and staff members laid off at Silicon Valley-based law firm Silicon Valley’s Gunderson Lays Off Attorneys Across Offices
(DBN)

Kirkand Scores Another Record Financial Year, Conducts 'Not Layoffs' Anyway
(DBN)

In-person LSAT will return in addition to remote option
(DBN)

Veteran Bankruptcy Attorney Joins Whiteford in Delaware
(DBN)

Alex Murdaugh's prison love letters: 'I think about you all day'
(DBN)

Michael Sussmann Is Heading Back To Biglaw
(DBN)

Alan Dershowitz can’t pursue defamation suit against CNN, despite its ‘foolishness’ and ‘apathy,’ judge says
(DBN)

Trump Calls to Defund the Police After His Own Arrest Trump Judge, Family, Court Get Threats After Manhattan Arraignment: Sources How Trump could talk himself into a gag order Bill Barr Dunks On Trump's New Defense Lawyer, Says He'll Regret Leaving Biglaw Partnership Trump’s legal drama could soon continue in Georgia Bragg’s case against Trump: An Ed Wood movie come to life The Day Donald Trump Surrendered Trump, the Incredible Shrinking Defendant The details alleged in Trump's historic indictment point to a complicated and shaky case, 5 former prosecutors say Trump calls for charges to be dropped during Mar-a-Lago speech Rape defamation trial postponed Trump lawyer says hush money case won't make it to a jury Trump's trial is on a collision course with the start of the GOP presidential primaries 'A very dark cloud': Trump tears into all the investigations he faces in post-arrest speech Trump wants to sit out his next court appearance. The judge presiding over his case says all defendants have to show up and he's no different Trump Struggles to Defend Himself in Bizarre Post-Arrest Speech Donald Trump isn't the first Trump to get arrested. His father, Fred, was arrested twice, reports say — once at a Ku Klux Klan riot, and another time over building code violations. The Trump Indictment Is a Legal Embarrassment The Trump Indictment Is a Disaster The Gaping Hole in the Middle of the Trump Indictment Bragg’s case against Trump hits a wall of skepticism — even from Trump’s critics Donald Trump Faces Several Investigations. Here’s Where They Stand Alan Dershowitz tells Charlie Kirk he believes Trump will be convicted—but verdict will be overturned on appeal Why Trump is charged with 34 counts of falsifying business records for one $130K hush-money payment Conviction or not, this probably isn’t the case that’ll send Donald Trump to jail, experts say
(DBN)

Pence Won’t Appeal Ruling Forcing Testimony to Jan. 6 Grand Jury, Aide Says
(DBN)

Ex-Infowars employee who stormed Capitol gets home detention
(DBN)

Fox Signals Fight Over Rupert Murdoch Testifying Live at Dominion Trial Judge willing to force Rupert Murdoch to testify in the Dominion case against Fox News Tucker Carlson, Sean Hannity among prominent Fox hosts, execs set to take stand at defamation trial
(DBN)

Bob Woodward wants judge to drop Donald Trump's copyright complaint
(DBN)

Texas shooting victims reach $144.5M settlement with DOJ Victims in Texas Church Shooting Reach $144 Million Settlement with US
(DBN)

A Texas man bragged about stealing $50,000 from a Mexican drug cartel. He was kidnapped less than 2 hours later and is still missing.
(DBN)

Undercover officers sue LAPD after photos released
(DBN)

Family of 18-year-old mom who was fatally shot by a school officer in California reaches $13M settlement
(DBN)

Man Allegedly Told LGBTQ Group He’d ‘Slaughter’ Them Following Nashville Shooting
(DBN)

North Dakota advances record-setting 10 anti-LGBTQ bills in one day, advocates say
(DBN)

The astonishing radicalism of Florida’s imminent ban on abortion
(DBN)

Why everyone should care about the new liberal majority on the Wisconsin Supreme Court
(DBN)

Idaho governor signs ‘abortion trafficking’ bill into law A N.C. lawmaker has switched parties, creating a path to stricter abortion laws Free speech looms as next key battleground for abortion rights
(DBN)

Overriding a veto, Kansas lawmakers ban trans athletes from school sports
(DBN)

Former Oklahoma jail officers sued over 'Baby Shark' torture tactic are placed on probation
(DBN)

One person hospitalized as 'rifle-wielding' woman taken into custody after sparking Trump Tower lockdown in Chicago
(DBN)

______________

Judges:

A Judge Asked Trump to Chill. Trump Mocked the Judge’s Wife.
(DBN)

Juan Merchan Under Pressure as Trump Supporters Focus on Daughter’s Ties
(DBN)

WI Supreme Court Loser Blasts Opponent Who Walloped Him By 11 As Unworthy And A 'Serial Liar' Spending on Wisconsin Supreme Court race sets nationwide record; who won? Gerrymandering Loses Big A liberal just won the Wisconsin Supreme Court race. Republicans are already talking about impeaching her.
(DBN)

GOP Senator Blocks Judicial Pick Over Transgender Rights
(DBN)

______________

Wall Street:

S&P 500 futures slip as investors weigh health of job market and economy
(DBN)

Recession fears move back to forefront of markets
(DBN)

American Dream Falls Flat for UK Firms Listing on Wall Street
(DBN)

______________

Layoffs:

The Robots Have Finally Come for My Job - WSJ
(DBN)

Are robot waiters the future? Some restaurants think so
(DBN)

CEOs Are Making Millions While Laying Off Thousands Of Workers And Filing For Bankruptcy
(DBN)

Meta’s job cuts are gutting customer service, leaving influencers and businesses with nobody to call
(DBN)

______________

Healthcare:

Judge blocks bankruptcy filing by clinic hit with $75 million malpractice verdict
(DBN)

Government forecast predicts steep climb in nursing home costs for next two years
(DBN)

Drug overdose deaths have quadrupled among seniors in the last 20 years. Why?
(DBN)

Covid’s Origins Can’t Be Tied to Wuhan Market, Chinese Researchers Say Americans are obsessed with China’s Covid coverup. We should be furious about the censorship that happened here, too.
(DBN)

____________

Retailing:

Bed Bath & Beyond has launched a ‘Hail Mary pass’ with latest partnership, says retail expert
(DBN)

____________

Sports:

MLB Seeking Overdue Rights Payments From Diamond For Twins/Guardians Broadcasts MLB files emergency motion in Diamond Sports bankruptcy demanding payments for Twins, Guardians
(DBN)

A regional sports network bankruptcy means some baseball fans may not see games on TV
(DBN)

Golden Knights’ Robin Lehner accused of fraud in bankruptcy case
(DBN)

____________

Fraud:

Charlie Javice has been fooling the world for years, long before founding Frank or allegedly defrauding JP Morgan. Here's why they bought it.
(DBN)

Vegas Golden Knights goaltender Robin Lehner accused of fraud in new court documents
(DBN)

____________

Education:

Texas Supreme Court rules that universities can revoke degrees for academic misconduct
(DBN)

____________

Food/Beverage:

90 Bankrupt Burger King Locations Have Met Their Fate—and Some Are Closing For Good
(DBN)

Starbucks' new olive oil-infused coffees are sparking curiosity and disgust among TikTok taste-testers: 'It's like an oil spill on your iced coffee'
(DBN)

____________

Retailing:

Bed Bath & Beyond to hold special vote on reverse split proposal Bed Bath & Beyond's business model: Treat workers as worthless merch Bed Bath & Beyond enters into $120M merchandise agreement in bid to stave off bankruptcy Bed Bath & Beyond gets $120 million lifeline to help it stock near-empty shelves
(DBN)

Foot Locker is closing 400 stores. They may become an eyesore
(DBN)

___________


Economy:

McCarthy’s Message to Wall Street: You Should Worry About the US Debt Ceiling
(DBN)

ADP: Private Employment Increased 145,000 in March US Companies Add Fewer Jobs Than Forecast, ADP Data Show
(DBN)

10 industries where job openings are declining
(DBN)

World Bank Warns of ‘Lost Decade’ for Global Economy
(DBN)

U.S. economy forecast to create 238,000 jobs in March. The Fed wouldn’t be happy.
(DBN)

Americans Are In Debt Up To Their Eyeballs And Smashing The Worst Kinds Of Records
(DBN)

‘We are going to see parts of the economy break’: Recession fears move back to the forefront of markets
(DBN)

Investors show concern over the U.S. economy
(DBN)

The origins of Biden’s most important policy, explained
(DBN)

US Service Gauge Falls More Than Expected as Demand Moderates ISM® Services Index Decreases to 51.2% in March The biggest part of the U.S. economy slowed in March, ISM finds, as strains mount
(DBN)

Fed’s Mester Says Rates Need to Move ‘A Little Bit Higher’
(DBN)

Inflation’s inventory gluts are here to stay and will hit the bottom line in weaker economy
(DBN)

US Profits Set for Pandemic-Sized Drop, Goldman Strategists Say
(DBN)

The bond market is flashing a storm warning for the US economy, says Wall Street analyst Jim Bianco
(DBN)

Insolvency is on the horizon for Social Security, Medicare funds, expert says. These changes may help
(DBN)

SPAC king Chamath Palihapitiya says higher rates have created a 'wave of destruction' across whole sectors
(DBN)

The Fed could easily drive Black unemployment much higher than the overall jobless rate Job market milestone: Shrinking employment gap for Black workers
(DBN)

Trade Deficit increased to $70.5 Billion in February US Trade Deficit Widens for a Third Month to $70.5 Billion
(DBN)

Russia notched record-high oil sales last week despite sanctions and production cuts
(DBN)

Stuck in a rut? From new job to new partner, 59% feel significant changes needed in their lives
(DBN)

A Key Biden Aide Exits as Economic Team Restructures
(DBN)

WTO Sees Subpar Global Trade Growth as War, Rate Hikes Slow Economies
(DBN)

IMF says U.S-China tensions could cost the world about 2% of its output
(DBN)

The world’s richest 25 people lost $200 billion last year
(DBN)

Report on Shell’s Russia Exit Jolts Ruble as Volumes Dwindle
(DBN)

 

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

Do bank failures equal a commercial real estate liquidity crisis?
(DBN)

A hidden time bomb? A ‘Big Short’ investor sees financial disaster brewing in housing markets
(DBN)

Last gasp of the Me Generation: Boomers looking to retire are swarming the housing market
(DBN)

Millennials are desperate to buy a home — but cash-flush boomers are standing in their way
(DBN)

Mortgage rates keep falling but applications for home loans are down because listings are drying up
(DBN)

MBA: Mortgage Purchase Applications Decreased in Weekly Survey
(DBN)

Comparing the Current Housing Cycle to the 1980 Period
(DBN)

Crash Worse Than 2008 Crisis Predicted for Commercial Real Estate
(DBN)

Florida lawmakers swing into action after Trump smacks DeSantis on insurance Florida senator proposes more ‘accountability’ for insurers
(DBN)

US Property Taxes Rose Twice as Fast Last Year Than in 2021
(DBN)

Anyone hoping to make an easy buck off vacation properties must contend with an 'Airbnbust' and a growing number of places looking to regulate short-term rentals
(DBN)

____________

Municipalities:

As bankruptcy ends, board seeks to boost Puerto Rico economy
(DBN)

2023’s Best US Cities for Job Opportunity and Earning Potential
(DBN)

____________

Oil/Gas:

These are the countries that will be ‘most hit’ if oil prices reach $100
(DBN)

Family SUVs are finally going electric
(DBN)

Elon Musk Sees a $4 Trillion Cost to Stick With Fossil Fuels
(DBN)

____________

Autos:

In Ohio, Electric Cars Are Starting to Reshape Jobs and Companies
(DBN)

New cars have become luxury items
(DBN)

Tesla's dominance fades as EV adoption grows
(DBN)

____________

Coal:

EPA proposes tighter pollution limits for coal plants
(DBN)

____________

Climate:

Missouri tornado kills multiple people, sows destruction
(DBN)

Zurich Exits Insurance Climate Alliance Days After Munich Re
(DBN)

Tornado reports across the U.S. reach 478, double the average for this point in a single year
(DBN)

____________

Banking:

Banks Face New Threat as Real Estate Collapse Looms
(DBN)

'I didn't bring my gun, don't worry': The wildest quotes from angry investors at Credit Suisse's last-ever shareholder meeting Switzerland cuts bonus payouts for top Credit Suisse management
(DBN)

UBS Chiefs See Risks Ahead in Credit Suisse Takeover
(DBN)

Credit Suisse’s Fatal Bank Run Points to Gaps in Liquidity Rules
(DBN)

UBS Chairman’s Top-Secret Prep Paid Off in Credit Suisse Moment
(DBN)

Closely watched bank ETF ‘hanging by a thread’, threatening broader pullback: analyst
(DBN)

This Bank Proposal Will Damage Our Economy and Make Voters Even More Resentful
(DBN)

FDIC retains BlackRock unit for Signature Bank, SVB securities portfolio sale
(DBN)

Raghuram Rajan Says Banking System is Headed for More Trouble
(DBN)

____________

Tech:

ChatGPT Accused Mayor Of Bribery Conviction, Faces Potential Defamation Claim
(DBN)

Arkansas House OKs social media age verification requirement
(DBN)

____________

Crypto:

How Will Bankruptcy Courts Shape Crypto Regulation?
(DBN)

Bankruptcy Claims Exchange OPNX Stumbles Out of the Gate
(DBN)

Crypto Contagion – Managing Risk on Multiple Fronts
(DBN)

Advocacy Group Campaigns for FTX Creditors to Speak Up, Recover Funds
(DBN)

Collapse of FTX Deprives Academics of Grants, Stokes Fears of Forced Repayment
(DBN)

Names of non-US FTX users demanded by mainstream media outlets
(DBN)

____________

 


New Bankruptcy Opinions
(2 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (14 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (4 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:

March US corporate bankruptcy filings push Q1 total to highest since 2010
(DBN)

Bankruptcy filings surpassed pandemic peak even before bank crisis took hold
(DBN)

BK SD MS: Case filings are up 33.5% for the first three months of 2023 as compared to 2022.
(DBN)

______________

Service:

U.S. Court Authorizes Service of Subpoena on U.S. Nationals through Social Media While Prohibiting the Issuance of a Subpoena on Foreign Nationals Abroad
(DBN)

____________

Mass Torts:

LTL, Part Deux (now with even more fraudulent transfers!)
(DBN)

J&J’s First Attempt to Escape Cancer Claims With Bankruptcy Failed. Now It’s Trying Again Johnson & Johnson shares rise after company proposes baby powder cancer settlement
(DBN)

Report shows astonishing depravity in abuse of more than 600 in Baltimore's Catholic archdiocese
(DBN)

When a Catholic diocese goes bankrupt, does it help or hurt sex abuse survivors?
(DBN)

____________

Bankruptcy Crimes:

Charged with bankruptcy fraud, Ernest Ricci shows disdain for the court, prosecutors say
(DBN)

Attorney sentenced in federal bankruptcy fraud case
(DBN)

____________

Mediation:

Are High-Priced Mediators Worth The Money?
(DBN)

____________

Exemptions:

New Mexico boosts protections for individuals declaring bankruptcy
(DBN)

____________

Aviation:

SAS initiates process seeking court approval to raise new equity
(DBN)

Virgin Orbit secures $31.6m in DIP financing Virgin Orbit chief blasts bosses in parting email Virgin Orbit comes back down to earth
(DBN)

Delta and United are dropping service to more cities as the trend of leaving regional airports behind continues
(DBN)

Airline passengers could be in for a rougher ride, thanks to climate change
(DBN)

____________

Student Debt:

For-Profit Colleges Ask Supreme Court to Block Student-Loan Deal Colleges ask Supreme Court to halt $6B student loan debt settlement
(DBN)

____________

Politics:

McConnell lets an indicted Trump twist in the wind Graham calls for donations following Trump indictment: ‘One last chance here to straighten this out’ Trump's court drama sets up primary collision Trump’s Charges Bring Doubts, Hopes and Uncertainty in Both Parties With an ‘arraignment party,’ Trump jolts his campaign "Never Trumpers" sound alarm about Manhattan DA's indictment House Dems curb their enthusiasm on Trump arrest
(DBN)

Coulter: Lose Big with Trump Why a Trump-Biden Rematch Is What Many Democrats Want in 2024 - WSJ
(DBN)

DeSantis faces looming challenge with independent voters
(DBN)

Trump makes play for DeSantis donors
(DBN)

Ohio Republican lawmaker falsely claims to be MIT graduate
(DBN)

Haley's $11M Haul Outpaces Trump's First 6 Weeks
(DBN)

State Lawmakers Are Pushing Anti-Trans Legislation at Record Rates Idaho governor signs bill banning transition care for minors Indiana Governor Signs Ban on Gender-Affirming Health Care
(DBN)

Wisconsin and Chicago elections expose liabilities in GOP case for ‘24
(DBN)

Trump is collapsing
(DBN)

Anti-vaccine activist RFK Jr. challenging Biden in 2024
(DBN)

____________

Sovereigns:

Sri Lanka Central Bank Governor Confident Of Inking Debt Deal With Creditors Sri Lanka to finalize negotiations with creditors before 1st review of IMF-assisted program Sri Lanka Debt Crisis: It would be sheer folly to underestimate China's machinations
(DBN)

IMF: Zambia needs bilateral debt relief to secure next payout Zambia ‘punished’ as debt rework not finished, says finance minister IMF Says Zambia Debt Revamp Deal Needed to Unlock $188 Million
(DBN)

Up to $520bln in debt write-offs needed for emerging nations' climate goals
(DBN)

Pakistan Moves Closer to IMF Loan After Saudia Commits Funds
(DBN)

____________

UK:

UK Seeks to Scare Off Migrants With Plan to House Them on Barge
(DBN)

Dover delays are a lesson in Brexit realities – and they may be about to get worse
(DBN)

UK Bosses Try to Lure Gen Z Workers With ‘Early Finish Fridays’
(DBN)

____________

EU:

ECB Officials Rally Behind Call That Rate Hikes Will Soon End
(DBN)

____________

Russia:

Takeaways from AP’s report on elite Russian defector Elite Russian security officer who defected calls Putin a paranoid ‘war criminal’
(DBN)

US, Britain walk out at UN on Russian wanted for war crimes
(DBN)

Putin ally accuses Western leaders of blood on their hands for supporting Ukraine
(DBN)

Exhaustion pervades Russia and Ukraine’s forces fighting for Bakhmut’s ruins
(DBN)

US Summoned Russia’s Ambassador Over Detention of WSJ Reporter
(DBN)

Putin berates US and EU envoys, top official says US aid fueling Ukraine war's 'hot phase'
(DBN)

Putin Says US-Russia Ties in ‘Deep Crisis,’ Blames Washington
(DBN)

____________

MENA:

Bankruptcy Proceedings in the UAE: the approach of the Courts towards debtors and their managers
(DBN)

Israel Strikes Gaza After Rockets Fired in Fresh Escalation
(DBN)

____________

Argentina:

Argentina Loses $1.5 Billion UK Case Over GDP-Linked Bonds
(DBN)

____________

France:

France faces fresh strikes after failed talks with unions Why are the French so angry over retiring 2 years later?
(DBN)

Bakeries are central to the French way of life. Now they’re fighting for survival
(DBN)

____________

Ireland:

Company insolvencies increase 70% year-on-year as key sectors hit by rising uncertainty
(DBN)

____________

Hungary:

Hungarian restructuring plans: a more flexible solution for struggling companies?
(DBN)

____________


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