July 14, 2023

The Daily Bankruptcy News

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Law:

The Reason Why Biglaw Performance Reviews Are Stressing Associates Out So Much
(DBN)

Biglaw Attorney Learns Hard Lesson About When *Not* To Recruit New Lawyers
(DBN)

Lawyer blames generation gap for behavior that prompted courthouse-area ban and ethics complaint
(DBN)

Online Lawyer Marketing Red Flags That Can Leave Law Firms Red-Faced
(DBN)

Allen & Overy Managing Partner Exits Amid Shearman Merger
(DBN)

Miami Mayor Takes Break From Quinn Emanuel for President Run
(DBN)

Lawyers accused in courthouse altercation offer ‘starkly conflicting accounts’ of incident
(DBN)

Americans Pessimistic on Future of Democracy
(DBN)

UK: Lawyer sorry after being named in parliament for ‘appalling’ comments about lynching MP
(DBN)

Ex-DLA Piper partner suspended for forging signature
(DBN)

Thumbs-up emoji constituted acceptance of texted contract, Canadian judge rules
(DBN)

Judges' Generative AI Orders Aren't Prompting Firms to Look Inward-Yet
(DBN)

The Next Generation Of Bar Exam Questions: What They Are And Why They Still Suck
(DBN)

“Get the checkbook out”: Trump voter hires Dominion lawyer to sue Fox News for “destroying” his life
(DBN)

IRS whistleblowers on Hunter Biden case to publicly testify
(DBN)

DOJ appealing prison sentences given to convicted Oath Keepers members Jan. 6 rioter Richard ‘Bigo’ Barnett can't afford a lawyer on appeal: Court doc
(DBN)

Arizona escalates probe into alleged efforts to swing election for Trump
(DBN)

Legal experts see strong potential for Trump charges in Jan. 6 probe
(DBN)

As Trump Howls About Witch Hunt, DOJ Pitches Hissy Fit To Protect Him From Having To Testify
(DBN)

Italian uproar over judge's 10-second groping rule
(DBN)

Man Shot Dead by Police After a Report of Stolen Fruit
(DBN)

Pittsburgh jury finds synagogue attacker eligible for death penalty
(DBN)

Man sentenced for honor killing of unwed and 8-months pregnant sister
(DBN)

Man dies after punch from stranger over his tattoos while on date night with wife: Police
(DBN)

Secret Service Closes White House Cocaine Case Without Any Suspects
(DBN)

Domestic Abusers Are Using Abortion Bans to Control Their Victims
(DBN)

The surprising second life of the Supreme Court’s abortion decision
(DBN)

This Agency Was Created With a Terrorism Focus. Now It Also Has to Care for Migrants.
(DBN)

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Judges:

Chemerinsky: Supreme Court once again moves the law significantly to the right
(DBN)

Sonia Sotomayor Schools Conservative Supreme Court Justices On The Right Way To Respond To An Ethics Inquiry
(DBN)

The Whimsy of the Late Justice John Paul Stevens
(DBN)

TX Judge Cites 303 Creative As General License To Discriminate Against Gays ... For Jesus Texas judge who doesn’t want to perform gay marriage ceremonies hopes web designer’s Supreme Court case helps her fight
(DBN)

Justice Brett Kavanaugh defends Supreme Court as 'institution of law not of politics'
(DBN)

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Wall Street:

Dow futures rise more than 100 points
(DBN)

With inflation in retreat, stocks hit 2023 highs
(DBN)

Stocks are headed to new records as inflation is crumbling and Fed can breathe easier, Fundstrat's Tom Lee says
(DBN)

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Layoffs:

If you're happy coasting at your job, you might be in trouble from AI
(DBN)

Circle Begins Layoffs Despite Expansion Plans in Asia
(DBN)

Las Vegas slot machine developer to close, will lay off 100
(DBN)

Waters Corporation Lays Off 328
(DBN)

100+ Colorado Springs employees unpaid for final weeks
(DBN)

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Student Debt:

New round of student loan debt forgiveness will erase balances for over 800,000 people
(DBN)

Biden administration forgives $39 billion in student debt for more than 800,000 borrowers
(DBN)

POTUS: Cancel Federal Student Loans, and Return Bankruptcy Rights to All Student Loans.
(DBN)

Why returning Bankruptcy Protections is critical for solving the Student Loan Problem
(DBN)

A mom took out over $77,000 in student loans to send her son with autism to college. He got his debt wiped out — but she's still paying hers off with no end in sight.
(DBN)

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Education:

Reading for fun plunges to ‘crisis’ level for US students
(DBN)

California replaces textbooks canceled by far-right board
(DBN)

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Politics:

The fight over a Confederate statue in Arlington National Cemetery
(DBN)

DeSantis claim that Disney sexualizes children is ‘preposterous,’ Bob Iger says
(DBN)

Confidential DeSantis campaign memo reassures donors amid stumbles
(DBN)

New York Is Ordered by Appeals Court to Redraw House Map Mid-level court hands Democrats victory in New York redistricting case
(DBN)

Defense bill’s fate hinges on abortion policy vote McCarthy confronts bleak reality as conservatives undercut GOP agenda
(DBN)

The Rise and Fall of Black Lives Matter
(DBN)

Slow pace of Biden’s reelection campaign feeds Democrats’ 2024 anxiety
(DBN)

Biden blasts Sen. Tuberville's holds on military nominations as 'totally irresponsible'
(DBN)

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Crypto:

Former Celsius CEO arrested, company agrees to pay $4.7 billion settlement ‘A sinking ship’: Celsius CEO charged with defrauding investors as crypto lender came crashing down Ex-Celsius CEO Alex Mashinsky Is Arrested as Insolvent Crypto Lender Is Sued by SEC, CFTC, FTC Bankrupt lender Celsius founder faces $40M bail and traveling restrictions ‘A Sinking Ship’: Celsius CEO Charged With Defrauding Investors As Crypto Lender Came Crashing Down
(DBN)

Court: FTX spent $400 million on the acquisition of its European branch
(DBN)

Identifying, Tracking, and Valuing Cryptocurrency for Litigation Matters
(DBN)

XRP coin surges after judge delivers a huge win to Ripple in its case against the SEC
(DBN)

Signs 'crypto winter' ending as regulatory fog begins to lift
(DBN)

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Agribusiness:

AeroFarms Provides Business Update on Restructuring Efforts
(DBN)

AppHarvest ousts CEO as creditors continue to knock
(DBN)

Drought and extreme heat burn through farmers' margin for error — and it's only July
(DBN)

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Economy:

America's inflation headache is gone, top economist Steve Hanke says. Paul Krugman and Mohamed El-Erian aren't so sure.
(DBN)

Weekly Initial Unemployment Claims Decrease to 237,000
(DBN)

St. Louis Fed President Jim Bullard Announces He Is Stepping Down
(DBN)

Jamie Dimon on Serious Threats to Economy
(DBN)

Nobel economist says there’s no need for the Fed to keep hiking interest rates
(DBN)

Everything’s Coming Up Soft Landing
(DBN)

Dollar sinks to a 14-month low as waning inflation kills bets for further Fed interest-rate increases
(DBN)

June wholesale prices rise less than expected in another encouraging inflation report
(DBN)

Your breakfast just got a lot cheaper with prices of eggs and bacon plunging 27% amid cooling US inflation
(DBN)

Mexico replaced China as America's top trade buddy — and it shows how the global economy is rapidly transforming
(DBN)

Americans aren't switching cities for new jobs as much anymore. We asked 5 people why moving isn't worth it.
(DBN)

Jamie Dimon warns of much bigger threats than recession, more banking turmoil, and downsides of working from home. Here are his 12 best quotes from a new interview The last, unfulfilled dream of Jamie Dimon, king of Wall Street
(DBN)

Hybrid work is the new normal, as companies rethink work habits, office spaces
(DBN)

The country's new business hot spots, mapped
(DBN)

Treasury Taps Sanctions Architect to Lead Financial Crimes Team
(DBN)

These 10 states are running America’s best economies for residents These 10 states are America’s worst economies, leaving populations at risk
(DBN)

Social Security won’t run out, but here’s why you might not get what you’re expecting
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Colorado Supreme Court Weighs in on Bankruptcy & Foreclosure
(DBN)

So what if mortgage rates have topped 7%, the US housing crash is pretty much over, Allianz says
(DBN)

Part 2: Current State of the Housing Market; Overview for mid-July
(DBN)

U.S. Building More Apartments Than It Has In Decades, But Not For the Poor
(DBN)

The financial consequences of empty offices
(DBN)

The Luxury Tower Built for New York’s Elite Still Sits Half Empty - WSJ
(DBN)

Citizens Insurance seeks 13% rate hike as Florida reinsurance renewals see 30%+ increase
(DBN)

Insurer’s Retreat in Florida Signals Crisis With No Easy Fix
(DBN)

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Municipalities:

Puerto Rico has been part of the US for 125 years, but its future remains contested
(DBN)

What's better and worse about Detroit's services a decade after bankruptcy
(DBN)

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Oil/Gas:

OPEC Raises 2023 Oil Demand Forecast
(DBN)

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Climate:

Too hot to handle: What the world's increasing heat does to our bodies
(DBN)

In unrelenting heat, millions plunge, drink and shelter to cool off
(DBN)

Death Valley could approach 130 F as heat intensifies over Southwest
(DBN)

‘Historically strong’ El Niño possible: What it means for winter Forecasters see overwhelming chance El Niño will last through early 2024
(DBN)

Chicago Tornadoes Cause Widespread Damage
(DBN)

Record heat meets record wildfires in Canada. Scientists say this is the new reality
(DBN)

Europe sizzles as ‘Cerberus’ heatwave sweeps across the continent
(DBN)

It’s even hot in Antarctica, where it’s winter
(DBN)

There’s no such thing as a disaster-resistant place anymore Even ‘Safe’ Places Are Experiencing Climate Chaos in America
(DBN)

Beavers are heat wave heroes
(DBN)

Americans love climate litigation
(DBN)

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Hotels:

Hotels: Occupancy Rate Down 2.3% Year-over-year
(DBN)

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Healthcare:

Hospital rejects nurses' claims that bankruptcy filing was 'unnecessary'
(DBN)

Texas families, doctors file lawsuit challenging state’s gender-affirming care ban
(DBN)

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Retailing:

Buy Buy Baby stores set to shutter as Go Global's deal to save the chain falls apart at the eleventh hour Judge OKs $15.5M sale of Buybuy Baby’s IP to former vendor
(DBN)

Why Is Ryan Cohen Involved in Bed Bath & Beyond’s Chapter 11 Case?
(DBN)

Overstock’s CEO on Becoming Bed Bath & Beyond
(DBN)

Famous Children’s Retail Store Closing Across New York State
(DBN)

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Entertainment:

Hollywood actors set to strike after talks with studios and streaming services fail to reach a deal
(DBN)

Disney CEO Bob Iger says company is considering selling TV assets as linear business struggles
(DBN)

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Resorts:

Times Square Margaritaville hotel faces bankruptcy, gets caught up in legal dispute
(DBN)

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Sports:

MLB and DirecTV Prepare For Bankrupt Diamond to Cut the Diamondbacks Loose From Bally Sports Arizona
(DBN)

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Advertising:

The Big Story: MediaMath’s Bankruptcy Fallout
(DBN)

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Fraud:

Mozambique ex-finance minister denied bail in New York over $2 billion scandal
(DBN)

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Movie Theaters:

Cineworld Reorganization: Cinépolis Top Executive Eduardo Acuna to Serve as New CEO
(DBN)

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New Bankruptcy Opinions
(3 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 (10 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

U.S. corporate bankruptcies at highest level since 2010
(DBN)

Texas Leads in Commercial Bankruptcy Filings in First Half of 2023 - WSJ
(DBN)

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Subchapter V:

Shouldn’t Entrepreneurs Have After-Liquidation Bankruptcy Relief For The Risks They Take? (In re Hillman)
(DBN)

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UST:

Eleventh Circuit Confirms Refunds as the Remedy for Overpayment of U.S. Trustee Fees
(DBN)

Jerry L. Jensen Appointed Acting U.S. Trustee for Arkansas, Nebraska, and Missouri
(DBN)

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Corporate Governance:

Entire Fairness Can be Satisfied Without Use of a Special Committee
(DBN)

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Mass Torts:

Johnson & Johnson sues researchers who linked talc to cancer
(DBN)

Four Ways the Texas Two-Step Changes How Plaintiffs Litigate Mass Torts
(DBN)

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Finance:

Are Lockbox Lenders Subject to Implied Duties?
(DBN)

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D&O:

2023 Market Dynamics Testing D&O Rate Adequacy and Coverage Sufficiency
(DBN)

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Aviation:

4 injured amid severe turbulence during Florida-bound flight
(DBN)

Bamboo Airways refutes bankruptcy claims
(DBN)

____________

Tech:

The brain drain at tech companies is already bad and as Elon Musk's poaching of AI experts shows, it's only going to get worse
(DBN)

FTC investigating ChatGPT-maker OpenAI for possible consumer harm
(DBN)

AI doomsday scenarios are gaining traction in Silicon Valley
(DBN)

Texas TikTok Ban Challenged for Threatening ‘Academic Freedom’
(DBN)

King Twit's Firing Habit Could Cost The Company A Cool $500M
(DBN)

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Banking:

Swiss parliament starts investigation into Credit Suisse collapse
(DBN)

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Labor:

Hollywood set to shut as actors vote to join writers on first industry-wide strike in 63 years Hollywood Shuts Down as Actors Strike
(DBN)

Actors say Hollywood studios want their AI replicas — for free, forever
(DBN)

Child Labor in America Is Back—and It’s As Chilling as Ever
(DBN)

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Theme Parks:

‘Nobody was there’: What’s behind the summer slump at Disney World and Universal Orlando
(DBN)

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Food/Beverage:

Price Increases Lead to Big Jump in Profit at PepsiCo
(DBN)

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UK:

UK looks to become first country to adopt UNCITRAL Model Law on Enterprise Group Insolvency
(DBN)

Boris Johnson can’t hand over his WhatsApps because he’s forgotten his passcode
(DBN)

With Offices Vacant, London’s Canary Wharf Seeks Growth Beyond Banking
(DBN)

Guildford's 'grave concerns' as £10m accounting error among financial worries laid bare
(DBN)

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EU:

The Weil European Distress Index
(DBN)

Real Estate Is Most Distressed Sector in Europe, Study Finds
(DBN)

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Russia:

Austin says there’s ‘no doubt’ Ukraine will join NATO after war with Russia
(DBN)

Putin’s Panicked Purge May Signal a New Mutiny on the Horizon
(DBN)

Ukraine is proving it can kill Russia's most valuable officers even when they think they are safe
(DBN)

Russia’s missing generals in the war with Ukraine reveal cracks in Moscow’s faltering military
(DBN)

Zelensky Leaves NATO Summit to Face Hard Realities of War
(DBN)

Putin ‘already lost’ war in Ukraine, Biden says
(DBN)

Russia, Belarus not invited to Paris Olympics: IOC
(DBN)

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China:

Chinese court rejects creditors' application to wind up Guangzhou R&F
(DBN)

China's dream of a smooth post-pandemic economic recovery has already turned into a nightmare
(DBN)

IMF says China growth slowing after strong Q1 reopening
(DBN)

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India:

How India's obscenity laws control women's bodies
(DBN)

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Australia:

A timely review of the effectiveness of Australia's insolvency laws
(DBN)

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France:

Bankruptcy in France – Challenges to a Trustee in Bankruptcy Gaining Recognition in a Post-Brexit Landscape
(DBN)

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Sweden:

Swedish landlord SBB enters into talks with bondholders; net loss widens
(DBN)

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MENA:

Israel’s economy to see recession next year, says former deputy central bank governor
(DBN)

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Cayman Islands:

Insolvency in the Cayman Islands – setting aside antecedent transactions.
(DBN)

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Hong Kong:

Updates To The Bankruptcy And Winding-Up Proceedings Practice Direction
(DBN)

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