August 1, 2023

The Daily Bankruptcy News

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Law:

Top Law School Welcomes The Use Of ChatGPT In Its Admissions Process
(DBN)

Biglaw Firm Creates C-Suite Role To Guide Firm On Artificial Intelligence
(DBN)

‘Supercool': OpenAI’s New Top Lawyer Preps to Face Novel Issues
(DBN)

Partner Diversity Lags Despite Law Firms’ DEI Efforts
(DBN)

Biglaw's Most Diverse Equity Partner Ranks
(DBN)

Associate Lateral Moves Remain Depressed Even as Partner Moves Bounce Back
(DBN)

More than 1,700 California lawyers suspended for failure to comply with new trust account rules
(DBN)

The 12 Law Schools With The Lowest Acceptance Rates (2022)
(DBN)

'We Need to Get Ahead of This': Texas State Bar Weighs In on Artificial Intelligence
(DBN)

Man allegedly murdered beloved attorney with whom he was romantically involved
(DBN)

$60 Million Refund Request Shows Financial Pressure on Trump From Legal Fees Trump PAC has spent more than $40 million on legal costs this year for himself, others Trump PAC Wants Its Money Back As Legal Bills Pile Up Picking Up The Tab For Donald Trump's Ballooning Legal Bills Trump burns through donors’ money as legal troubles mount
(DBN)

Trump expects to be indicted on Jan. 6 charges ‘any day now’
(DBN)

Trump attorney calls him ‘the most ethical American I know’ in wake of superseding indictment
(DBN)

Atlanta braces for possible indictments in 2020 election investigation Fulton County DA says 'we're ready to go' on Trump election probe charging decisions Georgia judge rejects Trump effort to quash Fulton County investigation Georgia prosecutor: Sheriff ‘doing something smart’ by installing security barriers ahead of possible Trump charges
(DBN)

Trump says it's really 'unpleasant' that he has to keep telling Melania he's been indicted again
(DBN)

Why Trump Could Avoid State Criminal Liability If He's Re-Elected President
(DBN)

2 more Trump indictments loom. Here are all the names to know.
(DBN)

Georgia Gov. Brian Kemp, who rejected Trump's push to overturn the 2020 presidential results in his state, called Rudy Giuliani's admission of making false election claims 'very troubling'
(DBN)

Trump co-defendant Carlos De Oliveira released on $100K bond 'Trump Would Get De Oliveira an Attorney' - and Some Lawyers Think That's Risky
(DBN)

New defendant in Trump documents case makes first court appearance but still needs a Florida attorney
(DBN)

Panic at Mar-a-Lago: How the new obstruction charges may produce even more witnesses against Trump
(DBN)

Looming Trump Jan. 6 indictment could come Tuesday
(DBN)

Trump’s New Charges Shouldn’t Delay Classified Documents Trial, DOJ Argues
(DBN)

When Dealing with Trump, Republicans Should Remember Employee 4
(DBN)

Trump's Civil Trials Continue, Even As Criminal Indictments Loom
(DBN)

Hunter Biden associate Devon Archer gives closed-door interview Hunter Biden’s former business partner to testify Joe Biden ‘joined calls with foreign clients’ Devon Archer debate focuses on Hunter Biden ‘illusion of access’ House Democrat calls on Comer to release transcript of Devon Archer testimony Devon Archer, Hunter Biden's business partner, gives testimony to Congress that then-VP Joe Biden was on more than 20 business calls with his son
(DBN)

Texas AG Ken Paxton seeks to halt his impeachment Paxton's Lawyers Want 19 of 20 Articles of Impeachment Dismissed
(DBN)

Abortion providers sue Alabama to block prosecution over out-of-state travel
(DBN)

Intelligence Board Recommends Curbing F.B.I.’s Power to Use Surveillance Program FBI Access to Spy Data Should Be Limited, White House Panel Says White House board urges reauthorization of controversial surveillance law
(DBN)

N.F.L. Increases Penalties for Sexual Misconduct in Light of Deshaun Watson Case
(DBN)

The first self-driving car fatality case put to rest who was responsible for killing a pedestrian. In this case, it was not the robot.
(DBN)

Tennessee police stood by and watched a man drown for 13 minutes, lawsuit says
(DBN)

Everything They Owned Burned, and They Still Can’t Get Restitution 102 Years Later
(DBN)

‘No remorse’: Lori Vallow Daybell gets life in prison after murdering her children
(DBN)

Man killed neighbor, claimed victim was serial killer 'worse then Jeffrey Dahmer': Cops
(DBN)

Police officer convicted for leaving detained woman in patrol vehicle hit by train
(DBN)

5 dead, 56 wounded in 9 mass shootings
(DBN)

Wife of Gilgo Beach murder suspect: ‘Everything is destroyed' after husband's arrest Breakthrough in Long Island serial killings shines light on the many unsolved murders of sex workers
(DBN)

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Judges:

Dallas hedge fund manager claims North Texas bankruptcy judge turned him into a book villain
(DBN)

Justice Alito Plays Dumb To Wall Street Journal When Asked About What Congress Can Do. You Shouldn't Buy It. Democratic senators challenge Alito to testify before Congress Congressional Dems pile on Alito after he says SCOTUS ethics can’t be regulated Samuel Alito’s View on Supreme Court Reform: Thanks, But No Thanks Samuel Alito Just Took an Indefensible Jab at the Progressive Justices
(DBN)

Liberal justices earn praise for ‘independence’ on Supreme Court, but Thomas truly stands alone, expert says
(DBN)

Can Congress bind Supreme Court on ethics code? Alito offers opinion
(DBN)

Subpoena Power for Remote Testimony Limited
(DBN)

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Wall Street:

Stock futures fall as Wall Street’s busiest earnings week continues
(DBN)

Meme-stock hero Ryan Cohen faces Bed Bath & Beyond shareholder lawsuit over emoji-fueled rally
(DBN)

Wharton's Jeremy Siegel Foresees New Highs Amid 'Goldilocks' Scenario: 'What's To Stop This Market Now?'
(DBN)

Warren Buffett's favorite market indicator soars to record high, signaling stocks are overvalued and a crash may be coming
(DBN)

The stock market's fear gauge just hit a 42-month low. Investors are ignoring a load of risks, hedge fund manager says.
(DBN)

2 bankruptcy managers could soar 30% on rising defaults: Analysts
(DBN)

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Layoffs:

A.I. is on a collision course with white-collar, high-paid jobs — and with unknown impact
(DBN)

Americans Are About to Start Losing Their Jobs
(DBN)

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Student Debt:

Biden administration launches new SAVE student loan repayment plan. Here’s how to apply New income-driven student loan repayment plan available to borrowers
(DBN)

DeSantis unveils economic plan, aim to ease process for discharging student loans through bankruptcy
(DBN)

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Tech:

Musk draws heat from San Francisco over giant X logo A man living across from Twitter's headquarters is baffled by Elon Musk's radiant new 'X' sign: 'It's hard to describe how bright it is' After Investigation and Complaints, Twitter Removes ‘X’ on Headquarters
(DBN)

Elon 'Free Speech Absolutist' Musk Threatens To Sue Nonprofit For Pointing Out He Seems To Like Hate Speech Twitter Threatens Legal Action Against Nonprofit That Tracks Hate Speech
(DBN)

Outcry Against AI Companies Grows Over Who Controls Internet’s Content - WSJ
(DBN)

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Crypto:

Prosecutors Want To Send Sam Bankman-Fried Directly To Jail, Do Not Pass Go, Do Not Collect $200
(DBN)

FTX proposes plan to reboot defunct crypto exchange for international customers FTX bankruptcy draft plan hints at offshore exchange reboot, without FTT FTX Draft Bankruptcy Plan Seeks Cash Repayment, FTT Wipeout
(DBN)

‘Upside down world’: How crypto thrives even after attacks
(DBN)

DCG Says It Sees Resolving Genesis Chapter 11 Bankruptcy Soon
(DBN)

The 'crypto couple' is pleading guilty in their alleged $4.5 billion bitcoin heist. Here's how the saga unfolded.
(DBN)

Crypto Exchange Curve Sees $1.5 Billion Removed After Hack
(DBN)

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Personal Finance:

How side hustles turned everyone's leisure activities into work
(DBN)

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Fraud:

July 2023 Ponzi Scheme Roundup
(DBN)

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Biotech:

Going, going, gone: Surgalign sells off digital health, hardware assets for $5.9M in bankruptcy auction
(DBN)

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Social Media:

Why TikTokers are drinking laundry detergent
(DBN)

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Movie Theaters:

Cineworld Emerges From Chapter 11 Bankruptcy, Ann Sarnoff Joins Board
(DBN)

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Insurance:

After UPC Insolvency, Parent Company Rebrands to American Coastal Insurance
(DBN)

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Retailing:

Bed Bath & Beyond comes back as an online retailer
(DBN)

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Economy:

Here's why the Fed's rate hikes haven't actually hit Americans that hard
(DBN)

Fed’s Goolsbee Says Next Rate Move Is Open Even as Inflation Eases
(DBN)

Wall Street Economists Are Looking at a September Rate Pause
(DBN)

New Factories Are Coming to the US, Even as Existing Ones Struggle
(DBN)

Americans are about to start losing their jobs – and that will scupper the Fed’s dream no-recession scenario, Vanguard top economist says
(DBN)

Central banks back away from guidance about what's ahead
(DBN)

Top House Democratic PAC urging members to lean into economy
(DBN)

The unexpected pitfalls of work-from-home parenthood
(DBN)

75% Plunge in Container Rates
(DBN)

Caterpillar Defies Slowdown Fears as Profit Tops Estimates
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Housing July 31st Weekly Update: Inventory increased 1.1% Week-over-week; Down 10.1% Year-over-year
(DBN)

Freddie Mac House Price Index Increased in June to New High; Up 1.7% Year-over-year
(DBN)

A 5% US Mortgage Rate Is Seen as Tipping Point to Unlock Supply
(DBN)

Homeowners with Mortgages Rates Greater Than 5% More Likely To Sell
(DBN)

For Commercial Real Estate Investors, “Urban Doom Loop” Is Both Crisis And Opportunity
(DBN)

Commercial real estate investors risk painful losses in post-COVID world
(DBN)

Housing Market Is Stuck as Homeowners With Low Mortgage Rates Stay Put
(DBN)

Apartment rents in the US declined in July for the first time since the pandemic began
(DBN)

Show me the money: Banyan Cay sale fails, owner still demands proof of deposit from suitor
(DBN)

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Municipalities:

Police are about to enforce San Diego's new homeless camping ban. Nobody's quite sure what will happen next.
(DBN)

‘We can’t coexist anymore’: Miami Beach weighs outdoor sleeping crackdown for homeless
(DBN)

Anchorage homeless face cold and bears. A plan to offer one-way airfare out reveals a bigger crisis
(DBN)

Miami’s Overflowing Septic Tanks and Trash Piles Test Appeal to Rich
(DBN)

Struggling Austin urban developer StoryBuilt enters a voluntary receivership
(DBN)

Fighting for Anthony: The Struggle to Save Portland, Oregon
(DBN)

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Municipalities:

12 Lessons Puerto Rico Must Learn Before it Emerges from Bankruptcy
(DBN)

PREPA parties reach agreement on 'perfection issues'
(DBN)

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Oil/Gas:

Oil major BP posts 70% drop in second-quarter profit, raises dividend by 10% BP Returns More Cash to Shareholders Despite Profit Miss
(DBN)

Texas Crude Output Sets Fresh Record as US Oil Demand Also Peaks
(DBN)

British Government Signals Support for Oil and Gas Industry
(DBN)

Connecticut to phase out fossil-fuel vehicles by 2035
(DBN)

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Trucking:

Yellow’s Bankruptcy Will Test Obligation to Teamsters Contract
(DBN)

Trucking Firm Yellow’s Collapse Leaves Freight Business Up for Grabs Trucking giant Yellow’s bankruptcy punches a $5 billion hole in the trucking industry, with 30,000 jobs at stake The Yellow Road to Bankruptcy - WSJ Yellow is shutting down and headed for bankruptcy, the Teamsters Union says. Here’s what to know Yellow is shutting down after 99 years. Here's what happened Teamsters blast bankruptcy-bound Yellow, cite $700 million Covid loan firm got from Trump White House What pushed Yellow trucking company to point of bankruptcy?
(DBN)

Truck drivers are leaving boom-and-bust supply chain jobs
(DBN)

Tesla Wants to Build a Semi Truck-Charging Route From Texas to California
(DBN)

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Politics:

The numbers behind America’s angst point to one important fraction
(DBN)

Public confidence in military lowest since 1997: Gallup
(DBN)

RFK Jr. super PAC got more than half its funds from GOP mega donor
(DBN)

McConnell seeks to silence GOP speculation about his future Trump hits Mitch McConnell for 'destroying our oceans' with 'windmills' when asked about the GOP leader's health scare
(DBN)

Trump steps up war with Senate GOP
(DBN)

Trump slams Biden as a 'dumb son of a b****' Donald Trump blasted his indictments, slammed President Biden and Ron DeSantis, and disparaged Philly at Erie rally What Indictments? NY Times-Sienna Poll Shows Trump Extending Lead Over DeSantis By 37 Points Trump, DeSantis aides spar over former president’s spending on legal fees Trump suggests GOP rivals debate for chance to be his running mate Georgia judge skewers Trump’s bid to derail potential charges
(DBN)

Trump has spent millions more than he’s raised in 2023
(DBN)

Charles Koch-Linked Group Raises $78 Million to Stop Trump
(DBN)

Nancy Mace says Biden impeachment talk puts House GOP majority at risk Schiff says McCarthy floating Biden impeachment to deal with ‘craziest’ Republicans in conference
(DBN)

White House takes the gloves off ahead of 2024
(DBN)

TV host 'retracts statements' after agreeing with 'kill them all' comment at Trump rally
(DBN)

Ron DeSantis suggests he would pardon Trump on any federal charges Beer, barbecue and a bus: Inside Ron DeSantis’ awkward comeback effort A DeSantis come-from-behind win is looking vanishingly unlikely DeSantis' presidential ambitions are in the hands of a small circle of wealthy donors DeSantis rocked by Black Republican revolt over slavery comments Ron DeSantis' newest problem: The majority of likely Republican primary voters don't want a candidate devoted to fighting 'woke' DeSantis Pivots to Economy as Trump Strengthens Hold on GOP DeSantis sharpens critique of Trump but faces huge odds DeSantis claims Biden would beat Trump. The voters he is wooing disagree
(DBN)

GOP presidential hopefuls blast DeSantis over slavery standards
(DBN)

GOP splits further over Tuberville’s military blockade as it stretches through summer Military logjam worsens as senators leave town with no fix to Tuberville blockade DeSantis supports Tuberville’s block on military promotions, blames Pentagon
(DBN)

Doug Mastriano sure seems to be campaigning for something, and Republicans are worried
(DBN)

‘Ripe for political violence’: US election officials are quitting at an alarming rate
(DBN)

A Drag Queen Is Topping the iTunes Christian Chart Much to the Chagrin of a Religious Activist
(DBN)

Biden overturns Trump decision to move Space Command HQ from Colorado to Alabama
(DBN)

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Religion:

More women are aiming to become church leaders. Together, they could change American Christianity
(DBN)

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Labor:

Sarah Silverman Is “Pissed Off” About Slew Of SAG-AFTRA Interim Agreements For Movies With Stars During Strike, Guild Responds
(DBN)

States Push for Kids to Serve Alcohol
(DBN)

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Media:

Deal Done! Vice Media Formally Closes Sale, Starts “Exciting New Era”
(DBN)

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Banking:

FDIC Closes Kansas Heartland Ti-State Bank
(DBN)

Fed Says US Banks Tightened Credit Further in Wake of Failures
(DBN)

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Cruise Lines:

Bankrupt Vantage Travel used expensive ships. Why aren’t they listed as assets in court?
(DBN)

United States Trustee Challenges Vantage Bankruptcy Case
(DBN)

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Religion:

Judge allows disabled students to proceed with discrimination suit against local Catholic schools
(DBN)

After $100M Settlement From Syracuse Diocese, CVA Attorneys Eye Insurance Reparations
(DBN)

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Education:

West Virginia revokes Alderson Broaddus' right to award degrees as school hemorrhages money
(DBN)

DeSantis says ‘we didn’t pick the fight’ on Florida slavery curriculum
(DBN)

First religious charter school in the US faces legal challenge
(DBN)

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Food/Beverage:

Popular burger chain declares bankruptcy for the second time; cites post-pandemic struggles
(DBN)

2 Struggling Restaurant Chains Are the Latest to Declare Bankruptcy in 2023
(DBN)

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New Bankruptcy Opinions
(7 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (28 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (9 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

Bankruptcy Filings Rise 10 Percent
(DBN)

Bankruptcy Cases Filed, Terminated, and Pending—During the 12-Month Periods Ending June 30, 2022 and 2023 Business and Nonbusiness Cases Filed, by Chapter of the Bankruptcy Code—During the Three-Month Period Ending June 30, 2023 Business and Nonbusiness Cases Filed, by Chapter of the Bankruptcy Code—During the One-Month Periods Ending April 30, May 31, and June 30, 2023, Based on Data Current as of June 30, 2023 Business and Nonbusiness Cases Filed, by Chapter of the Bankruptcy Code—During the 12-Month Period Ending June 30, 2023 Business and Nonbusiness Cases Filed, by Chapter of the Bankruptcy Code, District, and County—During the 12-Month Period Ending June 30, 2023
(DBN)

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Sovereign Immunity:

Tenth Circuit Holds that Sovereign Immunity Does Not Limit Section 544 Claim
(DBN)

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Mass Torts:

Judge reluctantly tosses second bankruptcy attempt by baby powder maker Johnson & Johnson Johnson & Johnson’s Texas two-step falls apart, again J&J Just Can't Seem to Solve Its Talc Problem. The Latest Setback. The Official Committee of Talc Claimants Applauds Decision to Dismiss LTL Management Second Bankruptcy Attempt
(DBN)

Cramer sours on Johnson & Johnson as lawsuits pile up
(DBN)

J&J shares on track for biggest daily drop in 3 years on talc setback
(DBN)

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UST:

Remarks of Director Tara Twomey at the 2023 Annual Seminar of the National Association of Chapter 13 Trustees
(DBN)

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Discharge:

Violation of Settlement Agreement Deemed Non-Dischargeable
(DBN)

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Aviation:

Cargo Airline Western Global Reaches Bankruptcy Financing Deal
(DBN)

Delta Airlines staff did nothing as drunk passenger sexually assaulted NY teen girl and mom on 9-hour flight from JFK: lawsuit
(DBN)

A British Airways "volumetric" passenger was stuck in his seat for 3 hours after landing and had to be taken out of first class with a hoist
(DBN)

Jet Airways Revival Back on Track With AOC Renewal
(DBN)

Tribunal Issues Notice To Creditors, Regulator Over Go First Ticket Refunds Go First eyes more cash, leaner fleet
(DBN)

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Healthcare:

Bankruptcy judge approves Americore trustee's disclosure statement
(DBN)

Amazon rolls out its virtual health clinic nationwide
(DBN)

Not 'if' but 'when': Antibiotic resistance poses existential threat for modern medicine
(DBN)

Leprosy cases surging in Central Florida: CDC
(DBN)

‘It’s a crisis’: Maternal health care disappears for millions
(DBN)

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Climate:

Phoenix sees temperatures of 110 or higher for 31st straight day
(DBN)

Explaining The Heat Wave: Separating Weather From Climate Change
(DBN)

Scorching Summer Heat Is Curbing Gasoline Output and Adding Pain at the Pump
(DBN)

A European ‘greenlash’ is picking up pace as an anti-ESG crusade sweeps the U.S.
(DBN)

Climate Change Is Raising the Threat Level on Rain
(DBN)

Ratings Firms Struggle to Quantify Climate Risks in Bond Market
(DBN)

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Finance:

Texas judge partially blocks CFPB small business loan rule
(DBN)

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Autos:

Aston Martin to Raise £210 Million From Its Backers to Cut Debt
(DBN)

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Celebs:

Todd Chrisley made a request to be released from prison and placed under house arrest, but it was rejected, according to his attorney
(DBN)

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Sovereigns:

Argentina won't use 'one dollar' of reserves to repay IMF, says Massa
(DBN)

Japan's Hayashi Urges All Creditors to Join Sri Lanka's Debt Talks
(DBN)

Pakistan to Roll Over Half of $24.5 Billion Maturing Debt
(DBN)

Will Zambia's Debt Restructuring Set a Precedent? Indebted nations can learn from Zambia’s breakthrough debt deal
(DBN)

____________

UK:

US uses AI to patrol its southern border. Now UK is deploying same tech to spot migrant boats
(DBN)

UK Watchdog Criticizes Banks for Failing to Pass on Rate Rises
(DBN)

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EU:

Inflation in the eurozone falls again as ‘Putin shock’ fades
(DBN)

Europe’s Economy Expanded in Spring, and Inflation Has Eased
(DBN)

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Canada:

Truck drivers told 'not to report to work' as YRC Freight Canada files for bankruptcy
(DBN)

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Australia:

Is change on the horizon for corporate insolvency in Australia?
(DBN)

Obtaining Pooling Order for a Group of Companies.
(DBN)

MaxCap among largest creditors of developer Toplace as claims hit $633m
(DBN)

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Russia:

Kremlin steps up air defenses after drone attacks as Zelenskyy warns war is returning to Russia Zelensky's hometown struck a day after he said war 'returning' to Russia
(DBN)

Russian missile hits another apartment building, Ukraine says
(DBN)

Russia Says Ukrainian Drone Hit Moscow Tower Again in New Attack
(DBN)

Russia's defensive lines are 'much more complex and deadly than anything experienced by any military in nearly 80 years,' retired general says
(DBN)

Zelenskiy Likely to Travel to New York for UN General Assembly
(DBN)

Former Russian president warns of nuclear response if Ukraine counteroffensive is successful
(DBN)

Elon Musk refused Ukraine's request for Starlink that would help it attack Russian ships with exploding sea drones, report says
(DBN)

Putin is forming mysterious private armies across Russia to protect himself from Wagner soldiers, report says
(DBN)

Inside the Wild International Battle Over An Abandoned Superyacht
(DBN)

‘Nowhere to hide’: The question troubling Ukrainian troops amid a grinding counteroffensive
(DBN)

____________

China:

China Urges Mortgage Easing to Stabilize Ailing Property Market
(DBN)

Plunging sales of new homes show China’s real estate crisis isn’t over China’s Home Sales Drop Most in a Year as Slowdown Worsens
(DBN)

Country Garden Faces $2.9 Billion of Bond Payments as Woes Mount
(DBN)

Skepticism prevails as Chinese leaders promise to back private businesses to spur slowing economy
(DBN)

Italy just slammed China's trillion-dollar Belt and Road Initiative, saying it was an 'atrocious' decision to join and that it's barely benefited from the deal
(DBN)

____________

Brazil:

Bankrupt Brazilian Utility Rewards Stock Traders With 316% Gain
(DBN)

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France:

Retailer Casino gets waiver from lenders on financial covenants for end-June
(DBN)

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Germany:

Germany's struggling property sector in five charts
(DBN)

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MENA:

Israel's Supreme Court to hear petitions about law that cuts its power
(DBN)

____________

Jersey:

Appleby Succeeds In First Court Of Appeal Decision On Jersey’s New Corporate Insolvency Regime.
(DBN)

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India:

Secured Creditor May Initiate Recovery Proceedings Against Guarantor Even If Defaulter Is Placed Under Moratorium: Bombay High Court
(DBN)

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