July 11, 2023

The Daily Bankruptcy News

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Law:

Even Lawyers Don’t Understand Legalese, New Study Shows
(DBN)

'Do Not Go To Law School': This Fund Manager Thinks AI Is Coming For The Legal Profession
(DBN)

Eversheds Sutherland Welcomes Finance and Restructuring Partner Renée Dailey to Finance Practice Group
(DBN)

Lawyers, Don’t Fight AI. Supervise It To Enhance Your Value.
(DBN)

Biglaw Firm Does Away With Profit-Sharing Bonus Due To Poor Financial Performance
(DBN)

Stroock ends merger talks with one BigLaw firm but continues talking to others
(DBN)

As Law Firm Mergers Get More Complex, Fewer Are Crossing Borders
(DBN)

Twitter Suit Blames 'Disgruntled' Legal Execs for Massive Wachtell Payout Twitter challenges Wachtell’s ‘gargantuan’ success fee for work before Elon Musk takeover Elon Musk Sues Wachtell For Being Better Lawyers
(DBN)

Which Law Schools Are 'Overperforming' On Their Bar Exam Passage Rates?
(DBN)

Lawyer Gets Too Clever Insulting Witness, Gets Censured For His Efforts
(DBN)

Judge rejects Tulsa Race Massacre survivors’ reparations claim
(DBN)

Kansas judge orders state to stop changing sex listings on trans drivers’ licenses
(DBN)

6th Circuit panel believes law banning transgender care for minors is likely constitutional
(DBN)

Judge to decide fate of two Oath Keepers who breached Capitol on Jan. 6
(DBN)

Trump co-conspirator seeks delay in Mar-a-Lago documents case Special counsel accuses Trump co-defendant of seeking ‘unnecessary’ delay Nauta lawyer trashed by legal expert for trying to delay hearing over non-issue ‘Quelle surprise’: Trump criminal co-defendant pushes for court delay – just as legal experts predicted DOJ And Trump Valet Walt Nauta Take Swipes At Each Other In Dueling Motions
(DBN)

Trump Wants Trial Moved Past 2024 Election
(DBN)

Former Trump aide Steve Bannon ordered to pay $480,000 for unpaid legal bills
(DBN)

Christie calls Hunter Biden investigation ‘either a lie or it’s incompetent’ Hunter Biden prosecutor disputes GOP, IRS whistleblower claim U.S. attorney denies requesting special counsel status in Hunter Biden probe
(DBN)

DOJ Officials Fear Trump Second Term
(DBN)

Trump Lawyer Alina Habba Nopes Out To Spend More Time With His PAC Money
(DBN)

Giuliani should be disbarred for basing election suit on ‘speculation’ and ‘suspicion,’ ethics committee says
(DBN)

A popular Tennessee soccer coach left his phone at a restaurant. Police say they discovered videos on the device of sexual assault on unconscious boys
(DBN)

Man found dead in freezer was hiding from cops and inadvertently locked himself in: Police
(DBN)

Woman who helped steal Lady Gaga's dogs fails miserably in attempt to get reward money
(DBN)

Man allegedly bites police dog 'multiple times' during tumultuous DUI-related arrest
(DBN)

Dad accused of driving family off cliff seeks mental health treatment in lieu of prison
(DBN)

Breaking-and-entering suspect crashed into rookie officer's cruiser, killing her: Police
(DBN)

Mother warned police about boyfriend. He shot her daughter, nephew and himself weeks later
(DBN)

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Judges:

Investigation finds Clarence Thomas accepted more undisclosed gifts from wealthy friends through elite association Justice Thomas gained access to ‘wealthy and powerful friends’ through Horatio Alger Association Clarence Thomas's Membership In Fancy Rich Person Club Under Fire
(DBN)

Senate panel to consider Supreme Court ethics package
(DBN)

McConnell takes aim at Schumer, Biden for ‘escalating attacks’ on Supreme Court
(DBN)

Schumer calls out Thomas, Alito for accepting ‘lavish gifts and vacations’ from billionaires
(DBN)

Left-leaning advocacy coalition calls on Congress to investigate Supreme Court ethics
(DBN)

The facts about affirmative action didn’t change. The court did.
(DBN)

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Wall Street:

Stock futures are little changed as traders look ahead to key inflation data
(DBN)

Dow closes 200 points higher Monday to snap 3-day losing streak
(DBN)

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Layoffs:

Bang Energy owner Vital Pharmacuticals to lay off more than 450 staff
(DBN)

EverQuote details 100 layoffs
(DBN)

New round of Microsoft job cuts hits customer service, support, and sales teams Microsoft cuts more jobs on top of 10,000 layoffs announced in January
(DBN)

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Fraud:

A judge ordered Nathan Reardon to dissolve his companies. His father took over instead
(DBN)

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Retailing:

Moody’s Predicts Rise in Retail Debt Defaults
(DBN)

Reality Bites As Even Christmas Is Canceled In Retail Week Of Woe
(DBN)

Bed Bath & Beyond Cancels Buybuy Baby Auction, But IP Deal Is Moving Ahead
(DBN)

How Lunya’s bet on brick and mortar contributed to its bankruptcy
(DBN)

Tuesday Morning moves to convert its bankruptcy to Chapter 7
(DBN)

Indiana attorney general: Target may be 'negligent' for selling 'obscene' Pride collection
(DBN)

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Tech:

Louisiana judge denies DOJ motion to stay order in social media case
(DBN)

Sarah Silverman sues OpenAI for copyright infringement
(DBN)

Threads hits 100 million sign-ups within first week All the major retailers have started using Meta's new Threads platform — except Costco Elon Musk, 52, challenges Mark Zuckerberg to ‘d--- measuring contest’ as Twitter users flock to Threads Taliban leader endorses Elon Musk's Twitter, accuses Mark Zuckerberg's Threads of having an 'intolerant' policy on free speech Twitter traffic is ‘tanking’ as Meta’s Threads hits 100 million users
(DBN)

Utah governor says he is getting ready to sue social media companies for ‘harms’ to kids
(DBN)

World powers in rush to get killer robots on battlefield in AI arms race, as concerns grow they can turn on humans
(DBN)

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Celebs:

Former NBA champion Trevor Ariza nearly went bankrupt a year after retiring
(DBN)

Katie Price slammed by fans for ‘begging for freebies’ days after bankruptcy court hearing Callum Wells
(DBN)

Jessica's Mother Lent Her Famous Daughter Money To Buy Back Her Clothing Brand And Told The Star To 'Tighten Up' Her Belt In Order To Revive The Company After Financial Crisis.
(DBN)

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Climate:

Heat Wave Bakes Large Swathes of Germany and Italy This Week
(DBN)

With hundreds of explosive chemical plants, Louisiana could be a ticking time bomb this hurricane season
(DBN)

NY recovers from once-in-a-millennium rain event State of Emergency Declared in New York
(DBN)

‘Earth is screaming at us right now.’ Meteorologist says planet is being pushed to the brink
(DBN)

House Republicans move to silence Wall Street in climate fight
(DBN)

Last week the hottest in recorded world history, U.N. agency says
(DBN)

Florida Ocean Water Now 97 Degrees
(DBN)

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Economy:

Fed Officials Say Higher Interest Rates Are Needed to Reach 2% Inflation Goal
(DBN)

Even Wall Street has no clue which way the economy is going
(DBN)

The ‘Representative Agent’ Is Always Rational. The Rest of Us Are Not.
(DBN)

The recession is already here for the rich
(DBN)

Florida now America's inflation hotspot
(DBN)

Wholesale used car prices drop by largest amount since pandemic began
(DBN)

Jobs data is already 'fraying' and the Fed is about to make a mistake by hiking rates again, economist says
(DBN)

A record share of Americans is living alone
(DBN)

Lawler: Update on Demographic Trends, and Population and Household Projections Through 2025
(DBN)

A record share of Americans is living alone
(DBN)

Boomers to pass on record-breaking $53T to kids
(DBN)

Chicago Suburb Pays Reparations to Black Residents in a ‘Test Run for the Whole Country’ - WSJ
(DBN)

The manufacturing backlash: No factory in my backyard
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Knight Mortgage Monitor: Home Prices Increased Month-to-month to New Record High in May
(DBN)

Home prices are hitting new highs again, as high rates put the squeeze on supply
(DBN)

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Municipalities:

Milwaukee mayor ahead of sales tax vote: 'I believe we will get there'
(DBN)

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Oil/Gas:

This Shell station removed all of its gas pumps — now, it’s being called the ‘gas station of the future’
(DBN)

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Labor:

LAX hotel workers walk out in second wave of strikes
(DBN)

Domestic workers are organizing for better working conditions nationwide
(DBN)

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Autos:

How The Dreams And Promises Quickly Came Crashing Down For Lordstown Motors
(DBN)

Wholesale Used Car Prices Decreased 4.2% in June; Down 10.3% Year-over-year
(DBN)

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Hotels:

NYC’s Jimmy Buffett-Themed Margaritaville Resort Files For Bankruptcy Margaritaville Resort Times Square Faces Wastin’ Away in Bankruptcy Sharif El-Gamal delays foreclosure at Margaritaville NYC Margaritaville owner files for bankruptcy ahead of foreclosure
(DBN)

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Banking:

Big US banks may need to increase capital requirements Fed's bank cop calls for tougher capital rules, setting up clash with lenders
(DBN)

House Oversight chair presses Fed for more information on SVB collapse
(DBN)

Wealthy Elites Oversaw A Massive Bank Collapse. Now They’re Suing To Claw Back Billions
(DBN)

Lawmakers Investigate Credit Suisse Collapse
(DBN)

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Student Debt:

Student loans: Looming payments put spotlight on ‘real danger’ for borrowers
(DBN)

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Beauty Pageants:

Miss Netherlands contestant makes history as first trans woman to win the pageant
(DBN)

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Water:

Half of US beaches contain unsafe levels of feces
(DBN)

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Media:

Vice Media Reporter Posts Eye-Popping Compensation to Company Executives Who ‘Led Vice to Bankruptcy’
(DBN)

The Case That Could Be Fox’s Next Dominion
(DBN)

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Fraud:

The Trillion-Dollar Grift: Inside the Greatest Scam of All Time
(DBN)

Elizabeth Holmes Prison Sentence Cut 2 Years
(DBN)

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Food/Beverage:

Upcycled chicken producer Do Good Foods files for bankruptcy
(DBN)

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Advertising:

MediaMath’s bankruptcy demonstrates difficulties of DSP model
(DBN)

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Event Facilities:

Showdown looms in Arizona sports venue bankruptcy case
(DBN)

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Healthcare:

The Envision Healthcare Bankruptcy Filing and What We Can Learn from It
(DBN)

Biden Administration Takes Action Against Junk Insurance, Surprise Bills
(DBN)

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Crypto:

SEC is ‘wrongfully attempting’ to police crypto markets: Paradigm counsel
(DBN)

Bitwise bankruptcy ends plan for tech-training venture on South Side
(DBN)

Celsius liquidations could exert sell-side pressure, warns Kaiko
(DBN)

Crash Course: Sam Bankman-Fried vs. the Crypto Grift
(DBN)

Bankrupt Crypto Lender Voyager Digital Shrinks Portfolio by Nearly 40%
(DBN)

Blowing Up the Crypto Cartel
(DBN)

Pepe Coin is Going to Zero
(DBN)

Former CFTC chairman says crypto regulations can’t wait
(DBN)

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Education:

With Art Colleges Closing, a Chicago Museum Has an Alternative
(DBN)

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Sports:

MLB locked in battle with bankrupt broadcaster over slashing media rights fees
(DBN)

Sochaux Heading for Bankruptcy Ahead of DNCG Hearing
(DBN)

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New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (7 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (19 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

Business bankruptcies pick up again
(DBN)

Global corporate bankruptcy wave will get even uglier
(DBN)

Financial Conditions Loosen Again For Junk-Rated Companies, But Some That Long Teetered Finally Go Over The Bankruptcy Cliff
(DBN)

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Choice of Law:

The Delaware Supreme Court Recently Affirmed the Application of Delaware Law to a D&O Insurance Coverage Dispute
(DBN)

Part II—Under Delaware Law, Unlike the Law of Many States, Fraudulent Transfer Claims Are Not Uninsurable as a Matter of Law
(DBN)

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SCOTUS:

SCOTUS Bankruptcy Decision Roundup
(DBN)

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Mass Torts:

Rite Aid May Be Forced Into Ch.11 Bankruptcy To Resolve Opioid Liabilities
(DBN)

Jim Cramer says be 'very careful' on J&J stock: here's why
(DBN)

Johnson and Johnson bankruptcy claim is a ruse to limit liability, cancer victims say
(DBN)

Jurors urged to impose heavy punitive damages in J&J talc trial
(DBN)

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Bankruptcy Crimes:

Man Who Tried to Conceal Replica “Dukes of Hazard” Car From Bankruptcy Trustee Convicted of Bankruptcy Fraud
(DBN)

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Social Media:

Getting a handle on social media: new guidance to help companies establish their ownership rights in social media accounts
(DBN)

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Aviation:

Wadia group looking for partners to bid for Go First
(DBN)

Jet Airways insolvency: Creditors say Jalan-Fritsch resolution plan unviable, unworkable
(DBN)

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Theme Parks:

Disney World Hasn’t Felt This Empty in Years - WSJ
(DBN)

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Politics:

Arizona’s GOP Went All-In on Trump’s Big Lie—Now It's Broke
(DBN)

Trump knocks Iowa governor over approach to 2024 presidential primary
(DBN)

Republican Gov Taunts Don Over Possible Debate Boycott: 'Wimp Out?'
(DBN)

Trump trashes swing state he has to win in 2024
(DBN)

Liberal LA Has Become an Epicenter of Violent Culture Wars. Here’s How.
(DBN)

Don't Vote For Chris Christie, But Give Him A Buck!
(DBN)

Comic Tom Segura Has Bizarre Run-In With a Notable Senator And His Fascination With Term M----------
(DBN)

DeSantis Getting Clobbered By Trump In Florida By More Than 20 Points
(DBN)

Top House Armed Services Dem worried about ‘extreme right-wing amendments’ filed to defense bill
(DBN)

Greene’s Freedom Caucus ousting underscores GOP-conservative tensions
(DBN)

Christie calls estimates of Trump rally crowd size ‘absurd’
(DBN)

DeSantis’s stumbles have GOP mulling other Trump alternatives
(DBN)

DeSantis accuses Trump administration of ‘colluding’ with big tech to bury Hunter Biden story in 2020
(DBN)

Tuberville’s hold leaves Marines leaderless for first time in 164 years Top Marine general steps down with no Senate-confirmed successor in place
(DBN)

Rep. George Santos compares himself to civil rights hero Rosa Parks because he refused to sit in the back of Congress
(DBN)

Biden has a profane temper behind closed doors: report
(DBN)

House GOP introduces election reform bill
(DBN)

'Growing concern' about the future of right-wing Freedom Caucus as Republicans turn on each other
(DBN)

21 far-right Republicans demand Kevin McCarthy shutdown the government in budget negotiations
(DBN)

Robert F. Kennedy Jr.’s Real Motive
(DBN)

Why Moms for Liberty is an Extremist Group
(DBN)

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UK:

Begbies Traynor records double-digit profit and revenue growth UK Inflation Crisis Killing Off 'Zombie Firms', Says Begbies Traynor
(DBN)

UK Two-Year Mortgage Rate Hits Highest Since 2008 in Fresh Pain
(DBN)

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Canada:

Canadians reporting insolvency hits record high just before Bank of Canada expected to hike interest rate
(DBN)

The Fraudulent Misrepresentation and False Pretences Exception to the Bankruptcy Discharge: Balancing the Debtor’s Fresh Start with Confidence in the Credit System
(DBN)

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Russia:

‘Shameful and unethical.’ Heineken, Unilever and Oreo maker Mondelez accused of breaking promises to leave Russia
(DBN)

Zelensky pans Trump’s claim of ending war with Russia in 24 hours Pence says Trump’s Ukraine war promise requires giving ‘Putin what he wanted’
(DBN)

Putin met with Wagner leader after rebellion: Kremlin
(DBN)

Pardoned Wagner convicts are once again committing crimes, and Russian authorities are trying to cover it up, report says
(DBN)

Wagner fighters neared Russian nuclear base during revolt
(DBN)

Gaetz co-sponsoring measure to prevent Biden from sending cluster bombs to Ukraine UK will stand by cluster bomb ban amid Ukraine tensions, Sunak tells Biden
(DBN)

NATO chief says Turkey agrees to back Sweden bid Putin went to war for ‘less NATO,’ military alliance chief says — and that’s backfired
(DBN)

Ukraine NATO bid still unresolved as alliance leaders gather
(DBN)

50,000 Russians have died in war
(DBN)

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China:

China to Extend Policies to Support Ailing Property Market
(DBN)

China Signals More Economic Aid After Property Debt Relief
(DBN)

China's deflation pressure builds as consumer prices falter
(DBN)

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MENA:

Israelis Start Day of Protests as Judicial Overhaul Moves Closer
(DBN)

Bank of Israel pauses rate hikes but warns further rises possible
(DBN)

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France:

Rival billionaires to detail rescue plans for Casino
(DBN)

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Estonia:

Updated insolvency laws in Estonia
(DBN)

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