July 12, 2023

The Daily Bankruptcy News

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Law:

Four-day office rule gains traction among New York law firms
(DBN)

Miami Mayor, A Lawyer, Doubles His Wealth, Buys Boat With Profit From His Side Gigs
(DBN)

Restructuring Partner Natasha S. Hwangpo Joins Ropes & Gray’s Expanding Restructuring Practice
(DBN)

Think tank leader who claims to have given FBI info on Hunter Biden charged by Justice Department Biden critic Gal Luft charged with failing to register as foreign agent and sanctions violations
(DBN)

Dailey Law Firm files for bankruptcy amid embezzlement claims
(DBN)

Supreme Court Gives Prosecutors Ammo in Oath Keepers Capitol Riot Case
(DBN)

Judge delays verdict in trial for two Oath Keepers
(DBN)

Trump Lawyers Seek Indefinite Postponement of Documents Trial Trump’s Trial Delay Strategy Is Criminal Defense 101
(DBN)

Trump shouldn't have immunity in E. Jean Carroll defamation suit, DOJ says DOJ Finally Abandons Trump in E. Jean Carroll Rape Defamation Case
(DBN)

A grand jury sworn in Tuesday could decide whether Trump is charged over Georgia’s 2020 election
(DBN)

Christie: Trump goes to bed every night ‘thinking about the sound of the jail cell door closing’
(DBN)

Obama-era emails reveal Hunter's extensive ties to nearly a dozen senior-level Biden admin aides
(DBN)

Democrats want DOJ to turn over info on Barr, Durham trip to Italy
(DBN)

A monumental LGBTQ rights case is barreling toward the Supreme Court
(DBN)

Firing of gay Catholic school teacher could test latest Supreme Court ruling
(DBN)

Iowa lawmakers move to advance 6-week abortion ban Iowa Republicans pass six-week abortion ban, setting up new court challenge
(DBN)

She performed an abortion on a 10-year-old rape victim. The right vilified her
(DBN)

FBI director to testify as GOP’s skepticism reaches fever pitch
(DBN)

Husband arrested in wife's hit-and-run death
(DBN)

California man paralyzed from run-in with police gets $20 million settlement
(DBN)

Jury decides 2014 document found in Aretha Franklin’s couch is a valid will
(DBN)

Kevin Costner's estranged wife Christine Baumgartner is awarded $129,000 per month child support - half the amount she demanded
(DBN)

Prosecutors set to present evidence against Colorado dentist accused of poisoning his wife's shakes
(DBN)

Ammon Bundy a No-Show at His Trial, Again
(DBN)

Leslie Van Houten, follower of cult leader Charles Manson, released from California prison
(DBN)

The Most Dangerous Cities in America
(DBN)

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Judges:

BK SD GA: Southern Scoop Newsletter
(DBN)

Judge Hopkins becomes first African American federal district judge ever appointed in Cincinnati
(DBN)

We Shouldn’t Stop Talking About Justice John Marshall Harlan
(DBN)

Justice Alito: States don’t always know what’s best for children
(DBN)

Sotomayor’s staff pushed library, colleges to buy her books: report
(DBN)

Supreme Court justices and donors mingle at campus visits. These documents show the ethical dilemmas
(DBN)

Book sales, a lure for money and more takeaways from the AP investigation into Supreme Court ethics
(DBN)

Justices teach when the Supreme Court isn’t in session. It can double as an all-expenses-paid trip
(DBN)

Biden faces tougher road on judicial appointments after progressive picks
(DBN)

Clash over US judge's competency probe heads into mediation
(DBN)

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Wall Street:

Stock futures are little changed as Wall Street awaits major inflation report
(DBN)

It’s not just tech. FOMO is in full swing across the stock market, and investors are about to be disappointed.
(DBN)

Wall Street Is Fighting New York’s Ban on Non-Compete Agreements
(DBN)

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Layoffs:

DISH is Reportedly Issuing Another Round of Layoffs
(DBN)

Matterport terminates 30% of workforce
(DBN)

JPMorgan plans to lay off 63 employees in Jersey City
(DBN)

Software unicorn Sisense sacks 100
(DBN)

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Banking:

The Coming Bank Crisis No One Is Talking About
(DBN)

The American banking landscape is on the cusp of a seismic shift. Expect more pain to come
(DBN)

CFPB slaps Bank of America with $150M fine for fake accounts, junk fees
(DBN)

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Autos:

Tesla is outselling the competition by miles. This chart shows how much catching up other automakers need to do.
(DBN)

Tesla Bull Sees Lots of Sales, Little Profit From Charging Deals
(DBN)

Tesla’s Price Cuts Almost Put One of Musk’s Friends Out of Business
(DBN)

US EV market struggles with price cuts and rising inventories
(DBN)

Used car prices in America are plummeting at the fastest pace since the pandemic - and that may drive June inflation below 3%
(DBN)

What the Duck? Rubber Birds Left On Jeeps Baffle the Nation - WSJ
(DBN)

Paris raises the stakes for SUV owners in war on ‘auto-besity’
(DBN)

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Sports:

MLB says teams have gotten 94% of money owed to them by Diamond Sports
(DBN)

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Bicycles:

Rumors of Bankruptcy Emerge as VanMoof Halts E-Bike Sales VanMoof, the e-bike darling, skids off track: Sales paused, execs depart
(DBN)

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Climate:

United CEO: Most carbon offset programs are ‘fraud’
(DBN)

Heat wave may be the longest ever and temperatures will likely increase Temperatures to climb to extreme levels even for hottest part of US Nearly 90 million people under heat alerts as "dangerous" event worsens
(DBN)

Canada sees its farthest-north 100-degree temperature as wildfires rage
(DBN)

Blackout would kill 9X more than Katrina
(DBN)

Texas power demand to hit record highs again as heat bakes state
(DBN)

Florida ocean temperatures at ‘downright shocking’ levels
(DBN)

Photos show the aftermath of Vermont flooding, with roads submerged underwater and dams overflowing Floods in US Northeast Forecast to Bring $5 Billion in Damages Catastrophic Flooding Hits Vermont Capital
(DBN)

Extreme heat during Europe's hottest summer killed over 61,000, study says
(DBN)

A Heat Wave Will Cook Your Electric Car Battery, If You Let It
(DBN)

Dangerous Heat Wave Set to Break Records in US West and Test Power Grid
(DBN)

"Extreme" heat envelops Phoenix, 42 million people under warnings
(DBN)

UAE Sets More Ambitious Target to Cut Emissions by 40% to 2030
(DBN)

Antarctic sea ice has been at record low levels for months — here’s what that means
(DBN)

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Education:

Americans' trust in college keeps dropping
(DBN)

Students need extra months of school to close COVID learning gaps: Study
(DBN)

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Pensions:

Brown resumes fight to restore pensions
(DBN)

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Media:

Vice Execs Dragged by Employees for Taking Gigantic Bonuses Amid Layoffs
(DBN)

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Radio:

Audacy Begins Negotiations To Refinance $1.9 Billion In Debt And Avoid Bankruptcy.
(DBN)

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Nursing Homes:

Iowa’s making legislative remedies but nursing homes keep closing
(DBN)

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Weddings:

Bridal boutique suddenly closes, leaving brides without dresses or explanation
(DBN)

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Trucking:

Creditors throw a lifeline to struggling US trucking group Yellow
(DBN)

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Economy:

Americans' cooldown expectations
(DBN)

Americans Seeking Cheaper Everyday Essentials Threaten Corporate Growth
(DBN)

‘Pivotal’ US CPI Report to Show Lowest Core Inflation Since 2021
(DBN)

Businesses are cutting workers’ hours in a warning sign for the economy
(DBN)

'Bond King' Bill Gross predicts American consumers will run out of cash later this year, paving the way for a recession
(DBN)

China's economic woes may help lower U.S. inflation
(DBN)

Texas No Longer Ranked a Top State for Business
(DBN)

US Online Prices Are Falling at the Fastest Pace Since May 2020
(DBN)

Dude, Where’s My Recession?
(DBN)

Remote work is having a huge — and unexpected — effect on women’s careers
(DBN)

Women's labor force participation hits record high
(DBN)

More people moved out of Florida than any other state in 2021
(DBN)

Harris announces steps to cap, waive child care costs for thousands
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Leading Index for Commercial Real Estate Decreased in June
(DBN)

U.S. Supreme Court’s “Takings Clause” Ruling Also Applies To Tax Certificate Foreclosures
(DBN)

Home prices aren't falling as buyers accept the new normal of 7% mortgage rates, Compass CEO says
(DBN)

CoreLogic: US Annual Home Price Growth Drops to the Lowest Rate in 11 Years in May
(DBN)

Chart: Why homeowners weren't crushed by the Fed's rate-hiking campaign
(DBN)

What Happens When a Redevelopment Project Goes Into Default or Bankruptcy?
(DBN)

Landslide forces evacuations, sends homes into canyon in Southern California
(DBN)

Farmers Insurance is leaving its business in Florida after leaving California Farmers Insurance is leaving Florida in latest blow to homeowners
(DBN)

Rolling Hills Estates declares local emergency, residents consider post-landslide future
(DBN)

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Municipalities:

Milwaukee council approves sales tax hike as part of plan to avoid bankruptcy
(DBN)

Is Nashville on the verge of bankruptcy, with city employee retirement plans partly to blame?
(DBN)

Michigan Still Allows Emergency Takeovers of Local Governments. Is It Finally Time To Reconsider This Drastic Measure?
(DBN)

Puerto Rico economy shows strength
(DBN)

Detroit police, fire pensioners push back on bankruptcy ruling to extend payments
(DBN)

Detroit Marks 10th Anniversary of Bankruptcy With a Bond Sale
(DBN)

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Oil/Gas:

OPEC Oil Export Revenue Was Highest in Almost a Decade Last Year
(DBN)

English Court Rejects Climate Change Case Against Shell Board
(DBN)

An ESG Loophole Helps Drive Billions into Gulf Fossil Fuel Giants
(DBN)

Segment of Manchin-backed pipeline blocked despite inclusion in debt limit bill
(DBN)

How a Houston Oilman Confounded Climate Activists and Made Billions - WSJ
(DBN)

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Retailing:

Bed Bath & Beyond Stock: What's Behind the BBBYQ Volatility?
(DBN)

Buy Buy Baby stores set to shutter as Go Global's deal to save chain falls apart at eleventh hour
(DBN)

More than 2,200 stores are closing across the US in 2023. Here's the full list.
(DBN)

Amazon's Prime Day discounts are bigger – because everybody's poorer now
(DBN)

Final days until bankrupt wedding retailer with nearly 300 stores closes with liquidation sales up to 70% off
(DBN)

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Student Debt:

Warning: Student loan cliff ahead
(DBN)

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Tech:

Welcome to 'Zombie Twitter'
(DBN)

ChatGPT was an 'oh crap' moment for hundreds of CEOs
(DBN)

The reality of Big Tech's 'fake work' problem
(DBN)

Elon Musk and Mark Zuckerberg's feud is so embarrassing
(DBN)

No, photos won’t be permanently deleted from your iPhone later this month
(DBN)

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Labor:

US Dockworkers Say They Won’t Unload Canada-Bound Cargo as Strike Continues
(DBN)

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Celebs:

Elon Musk 'gathering resources' announcing plans for a 'true spacefaring civilisation' A Glass House for Elon Musk Sparks Internal Tesla Probe - WSJ
(DBN)

Jennifer Thompson, Estranged Wife of Honey Boo Boo’s Dad Sugar Bear, Files for Bankruptcy
(DBN)

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Festivals:

Fans Keep Dying at This Country Music Festival. Their Families Want Answers
(DBN)

The death of the beer festival is jolting the craft brewing industry
(DBN)

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Television:

Peak TV Has Peaked: From Exhausted Talent to Massive Losses, the Writers Strike Magnifies an Industry in Freefall
(DBN)

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Military:

40% of U.S. Navy submarines out of commission
(DBN)

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Utilities:

Why the high price of modernizing the U.S. power grid is worth it
(DBN)

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Crypto:

FTX Launches Customer Claims Portal for Creditors in Chapter 11 Bankruptcy Proceedings FTX claims portal becomes unavailable shortly after going live
(DBN)

US authorities are investigating former FTX exec for potential campaign finance violations: Report
(DBN)

Another cybercriminal's deal with DeFi victims falls through
(DBN)

The U.S. Used Potent Global Surveillance Power To Track Russians In $4 Billion Crypto Exchange Investigation
(DBN)

Celsius Sues StakeHound for Failing to Return $150M Worth of Tokens
(DBN)

Bad news for Ripple? LBRY judge passes ruling on if secondary crypto sales are securities
(DBN)

Judge Tells Estranged ‘Crypto-Couple’ that They Will Bankrupt Each Other
(DBN)

Mt. Gox repayment date looming: Is Bitcoin in trouble?
(DBN)

Winklevoss twins sue Stamford-based crypto conglomerate Digital Currency Group Winklevoss vs. Silbert: DCG Calls Gemini Lawsuit Publicity Stunt as Creditors Left Waiting
(DBN)

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Newspapers:

Nonprofit Buys 22 Newspapers in Maine
(DBN)

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Resorts:

Will a Bankruptcy Close Margaritaville in Times Square?
(DBN)

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Private Equity:

Why Private Equity Is Chasing Plumbers and Lumber Yards
(DBN)

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Labor:

340,000 UPS workers could go on strike July 31. Here’s what it means Five things to know about UPS strike as Teamsters contract talks fail
(DBN)

SAG-AFTRA Strike Could Hinge On AI; Deep Divisions Remain Between Actors & Studios In Final Hours Of Talks Ari Emanuel & Bryan Lourd Offer To Step In To Prevent Actors Strike As Studio CEOs Agree To Bring In Federal Mediators
(DBN)

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New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (21 new filings today)
(DBN)

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

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

Corporate Bankruptcy Wave Just Started
(DBN)

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Corporate Governance:

Part I—What Are CareMark Claims and Why Have They “Bloomed Like Dandelions after a Warm Spring Rain”?
(DBN)

Part II—McDonald’s: the Expansion of Caremark Liability to Officers
(DBN)

Part III—Does McDonald’s Give Bankruptcy Trustees an Advantage in Asserting D&O Claims?
(DBN)

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Professional Employment:

One Person Can Knock Out Our Firm? Imputation and Retention Risks for Professionals Under Chapter 11
(DBN)

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Mass Torts:

US judge considers ending stalled New York diocese bankruptcy
(DBN)

Old Phone Cables Appear to Be Contaminating US Soil and Water With Lead
(DBN)

Mallinckrodt Sued for Allegedly Misleading Investors - WSJ
(DBN)

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Third Party Releases:

Second Circuit Joins Circuits Allowing Nonconsensual Third-Party Releases In Chapter 11 Plan
(DBN)

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Aviation:

United Airlines CEO warns of more weather delays as climate warms
(DBN)

Jeff Bezos’ Blue Origin rocket engine explodes during testing
(DBN)

DGCA analysing special audit report of Go First, says official
(DBN)

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Healthcare:

Nurses question hospital bankruptcy decision
(DBN)

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Food/Beverage:

BUD LIGHT Plummets To 14th Place Among Beers - Pleads For Consumers To Return
(DBN)

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Politics:

‘Idiots,’ ‘criminals’ and ‘scum’ – nasty politics highest in US since the Civil Wa
(DBN)

Biden’s life expectancy — and its implications
(DBN)

Democratic jitters grow over Cornel West’s third-party bid
(DBN)

MyPillow auctions off equipment amid ‘massive cancellation,’ CEO Lindell says Mike Lindell Floats Nutty ’My Cousin Vinny’ Scenario Where He Beats Dominion
(DBN)

Iowa fires starting gun in race to stop Trump
(DBN)

Georgia Democrat Mesha Mainor, at odds with her party, switches to Republicans
(DBN)

GOP goes all-out to avoid another Senate primary mess
(DBN)

Doug Burgum is about to drop hundreds of thousands of dollars on gift cards to qualify for the debate
(DBN)

Trump’s 2024 rivals predict shift is coming in primary landscape
(DBN)

There’s Good News and Bad News for Trump in a New Survey
(DBN)

US Politicians Seek Middle Ground in Ongoing Debate Over ESG
(DBN)

Tucker Carlson hosting first GOP presidential forum — without Trump
(DBN)

Tuberville: Racism of white nationalists a matter of opinion Questions mount over Tuberville white nationalism remarks Tuberville’s white nationalism comments trigger GOP uproar McConnell denounces white supremacy in response to Tuberville controversy Schumer: Tuberville is ‘wrong, wrong, wrong’ on white nationalist comments Sen. Tommy Tuberville relents and says white nationalists are racist
(DBN)

'We will lose talent' over Tuberville blockade, Joint Chiefs nominee warns
(DBN)

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Sovereigns:

Bond Vigilantes Are Calling the Shots in Emerging Markets Now
(DBN)

Zambia, bondholders advance $3 bln debt restructuring talks
(DBN)

IMF Set to Hold Key Board Vote on Pakistan’s $3 Billion Bailout
(DBN)

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UK:

Insolvency Service Enforcement Outcomes
(DBN)

UK’s ‘zombie’ firms will be wiped out by interest rates, says insolvency specialist
(DBN)

Expected Changes to the UK Corporate Moratorium
(DBN)

Woking plans parking charge hike by 'hefty' 20% due to bankruptcy
(DBN)

UK wage growth matches record high but job market shows signs of cooling
(DBN)

Bank of England warns of mortgage agony, says monthly costs could jump £500
(DBN)

Crackdown on fraud: UK proposes new fraud offence
(DBN)

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Canada:

Key Developments in Canadian Insolvency Case Law in 2022
(DBN)

Bank of Canada Set to Hike Rates Again Amid Inflation Slog
(DBN)

How Canadian Restructuring Lawyers are Doing Deals in a Way That Their US Counterparts Can’t
(DBN)

Insolvent Canadians hit a new record high as debt chokes household budgets
(DBN)

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China:

Chinese EV Startup Byton Files For Bankruptcy
(DBN)

China is teetering on the brink of deflation. That's a huge red flag for the global economy.
(DBN)

China Loan Growth Picks Up After Rate Cut to Boost the Economy
(DBN)

China’s economic downturn is more shocking than outsiders realize, says former Chinese property mogul
(DBN)

China’s Xi Calls for Greater Economic Opening in Charm Offensive
(DBN)

____________

Germany:

Real estate assets (usually) don’t count as liquidity in German insolvency law
(DBN)

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Spain:

Shareholders, creditors clash on value of Spain's Celsa in restructuring fight
(DBN)

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Russia:

NATO not fast-tracking Ukraine into alliance Zelensky: It's "absurd" NATO won't give timetable for Ukraine membership Zelenskyy blasts ‘absurd’ draft text that hedges on Ukraine’s NATO membership timeline NATO membership offer falls short of Ukraine’s hopes Zelensky slams NATO over no clear path to membership, despite Biden unity pitch Why Zelensky is left unhappy with NATO’s Ukraine plan
(DBN)

Biden hails Sweden's impending NATO admission ahead of tense meeting with Ukraine Ukraine says cluster munitions will be ‘game changer’ against Russia
(DBN)

Blinken defends decision to send Ukraine cluster munitions Bipartisan push forms in Congress to deny Ukraine cluster bombs
(DBN)

Russian Cash Flood Turns to $5.4 Billion Trickle, Strains Ruble
(DBN)

Russian troops are battling high and drunk: It’s nothing new
(DBN)

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Sweden:

Major Stockholm Landlord Cut Two More Steps Into Junk Territory
(DBN)

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India:

Adani Weighs Bid for Anil Ambani’s Bankrupt Coal Plants
(DBN)

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MENA:

Thousands of Israeli Protesters Descend on Airport in Anger Over Netanyahu Plan U.S. calls on Israel to not crack down on anti-government protesters
(DBN)

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Luxembourg:

Construction sector bankruptcies soar 117% in H1 2023
(DBN)

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Brazil:

Americanas succeeds in extending protection against collection from creditors
(DBN)

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Hong Kong:

Government welcomes passage of Bankruptcy and Companies Legislation (Miscellaneous Amendments) Bill 2023
(DBN)


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Australia:

Inquiry calls for shake-up of insolvency laws
(DBN)

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Offshore:

A Bird’s-Eye View Of Some Key Restructuring Options And Processes In Bermuda, The British Virgin Islands And The Cayman Islands.
(DBN)

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