July 18, 2023

The Daily Bankruptcy News

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Law:

Biglaw's 'Bank' Of Remote Days Will Only Make Associates More Frustrated About Having To Work From The Office • As Big Law Marches to Most Days in Office, Some 'Bank' Remote Days • Law Firms Implementing Hybrid Work More Aggressively
(DBN)

Court Refuses To Toss Sanctions For Alan Dershowitz In Election LOLsuit For Kari Lake • Dershowitz vows to take $12,200 sanction in voting suit to Supreme Court if necessary
(DBN)

U.S. Firms In The UK: Overpaid, Oversexed, And Over Here
(DBN)

'I Never Sexually Harassed Anybody,' Says Lawyer Facing Ethics Complaint Filled With Sexual Harassment
(DBN)

Biglaw Firm's Got A Case That's A Dilly Of A Pickle
(DBN)

The Law Schools That Offer Students The Most Help With Tuition (2022)
(DBN)

Performance Improvement Plans: The New Way For Biglaw Firms To Conduct Stealth Layoffs
(DBN)

Biglaw Associate Putting Up Cold, Hard Cash For Help Snagging A Husband
(DBN)

Will AI replace lawyers?
(DBN)

Generative AI Brings Ethical Concerns, Say Pa. Ethics, Tech Experts
(DBN)

How Gen X Is Shaping the Modern Legal Industry
(DBN)

Cycling lawyer quits US firm for 14,000km ride from Canada to Argentina
(DBN)

Gilgo Beach investigators comb unsolved murders for potential ties to suspect • Police investigating the Gilgo Beach killings have searched a Long Island storage facility • Gilgo Beach cops ignoring 'significant and stronger' leads, lawyer says while claiming no evidence on LI slay suspect • Investigators feared Gilgo Beach serial killings suspect would try to flee the country, police official says
(DBN)

Cuomo’s legal bills hit $6.6 million
(DBN)

Gag Order for Paxton Impeachment
(DBN)

Trump Roasted For Making Up A Law 'Out Of Thin Air' About Classified Documents
(DBN)

Giuliani ordered to pay over $89K discovery sanction in poll workers’ suit
(DBN)

Trump Launches Himself At GA Supreme Court In Bid To Head Off Fulton Co Indictment • Georgia Supreme Court unanimously rejects Trump's request to shut down election probe
(DBN)

FBI charges now-husband of 'Pink Beret' Jan. 6 rioter who was turned in by her ex • The 'QAnon Shaman' and other Capitol rioters who regret pleading guilty
(DBN)

JPMorgan Has a New Jeffrey Epstein Problem
(DBN)

3 banks robbed by 'Sticky Note Bandit,' FBI says
(DBN)

Plurality in U.S. Says Southern Border Situation Is 'Crisis'
(DBN)

The Trump Administration Gave the NRA “Veto Power” Over Its Response to the Parkland Massacre, New Book Reveals
(DBN)

Texas troopers told to push back migrants into Rio Grande River and ordered not to give water amid soaring temperatures, report says
(DBN)

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Judges:

BK ND WV: Vacancy Announcement 23-3 Term Law Clerk
(DBN)

US Judiciary to Consider Limited Public Broadcasting After Covid
(DBN)

How Harlan Crow Slashed his Tax Bill by Taking Clarence Thomas on Superyacht Cruises
(DBN)

As Justices Snipe, Supreme Court's Image Suffers
(DBN)

The Supreme Court Control Act - WSJ
(DBN)

As public digests Supreme Court ruling, LGBTQ protections draw fire
(DBN)

Judge who won’t marry same-sex couples cites Supreme Court ruling for Christian web designer
(DBN)

How the Supreme Court put itself in charge of the executive branch
(DBN)

Ramaswamy's picks to push SCOTUS further right • Ted Cruz, Mike Lee among Ramaswamy’s potential Supreme Court nominees
(DBN)

Trump praises judge overseeing his classified documents case, saying she ‘loves our country’
(DBN)

Is the Media Finally Waking Up to a New Kind of Supreme Court Coverage?
(DBN)

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Wall Street:

Stock futures fall on busy earnings day
(DBN)

Global stocks mixed as Wall Street rally begins to tire
(DBN)

On Wall Street, these are unprecedented times
(DBN)

The stock market’s up big this year — but not because of earnings growth
(DBN)

The S&P 500 could jump a further 20% as the US recovers from a 'rolling recession', market veteran Ed Yardeni says
(DBN)

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Layoffs:

Allina Health eliminating about 350 jobs amid financial challenges
(DBN)

Foxconn subsidiary to lay off 115 employees
(DBN)

ProSiebenSat. 1 to cut 400 jobs
(DBN)

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Private Equity:

Global private equity exit activity slumps in Q2 2023
(DBN)

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Bicycles:

VanMoof, the e-bike startup, officially declared bankrupt in The Netherlands • Dutch E-Bike Maker VanMoof Goes Bankrupt After Thriving During Pandemic • Owners of troubled VanMoof e-bikes get their software keys from rival company • VanMoof declared bankrupt – e-bikes remain functional for now but repairs will not be carried out
(DBN)

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Politics:

Democrat suspicions grow about RFK Jr., Cornel West, No Labels
(DBN)

Alabama Looks to Defy Supreme Court Ruling
(DBN)

Texans with Trans-Kids: Why Don't We Have Parental Choice?
(DBN)

How Gretchen Whitmer Made Michigan a Democratic Stronghold
(DBN)

'This state is under tyranny': Scenes from California's latest secession movement
(DBN)

Republican Gains in 2022 Midterms Driven Mostly by Turnout Advantage
(DBN)

Trump's campaign sent DeSantis donors a list of all of his struggles thus far
(DBN)

Blinken Calls Blockade of Diplomatic Nominees a National Security Risk
(DBN)

GOP senators rattled by radical conservative populism
(DBN)

Trump and Allies Forge Plans to Increase Presidential Power in 2025
(DBN)

Charted: Biden's inflation-adjusted war chest
(DBN)

A group of GOP centrists threatens hardline tactics on tax bill
(DBN)

It’s Getting Really Awkward for Speaker Kevin McCarthy
(DBN)

GOP presidential hopefuls roll out flashy prizes to incentivize donors
(DBN)

2024 House majority runs through the courts
(DBN)

Casey DeSantis Is the Smiling Face of Anti-LGBTQ Activism
(DBN)

The Republican Party is dropping its Klan hood
(DBN)

Trump gloats over big win in Turning Point USA straw poll
(DBN)

Chris Wallace asks if RNC chair has any problem with GOP nominating a ‘convicted felon’
(DBN)

Manchin stokes Democratic speculation for 2024 with No Labels event • Joe Manchin fires back against 2024 spoiler label • Manchin refuses to rule out third party presidential campaign, says ‘if I get in a race, I’m going to win’
(DBN)

Top House Democrat supports end to Senate ‘blue slip’ practice
(DBN)

House Democrats Prepare Push to Censure George Santos
(DBN)

I Am Being Pushed Out of One of the Last Public Squares, the Library
(DBN)

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Media:

The media industry is in turmoil, and that’s not changing anytime soon
(DBN)

Hollywood plunges into all-out war on the heels of pandemic and a streaming revolution
(DBN)

Media Titan Barry Diller Delivers Doomsday Forecast: Actor and Writer Strikes Could Lead to Hollywood’s ‘Absolute Collapse’
(DBN)

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Healthcare:

Madera hospital seeks $80 million loan from new program; 15 other hospitals pursue money, too
(DBN)

Millions of Californians Are Expected to Lose Medi-Cal Coverage
(DBN)

Florida family behind ‘church’ that sold bleach as a COVID cure goes to trial this week
(DBN)

Senior living sector impairments grow amid weak demand
(DBN)

White House Calls Robert F. Kennedy Jr.’s Covid Claims ‘Vile’
(DBN)

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Retailing:

Why Tuesday Morning wants to downshift into Chapter 7
(DBN)

Shares Of Bankrupt Bed Bath & Beyond Jump More Than 11%
(DBN)

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Sports:

Behind the Slow-Motion Implosion of Regional Sports Networks
(DBN)

Phoenix Suns and Mercury confirm new local TV deal
(DBN)

Diamond Moves to Boot the Arizona Diamondbacks Out of the Bankrupt Bally Sports Kingdom ... For Real This Time
(DBN)

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Trucking:

Former subsidiary of bankrupt Celadon acquired by US, Mexican investors
(DBN)

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Economy:

The Fed's 'mystical' 2% inflation target makes no sense and could drive millions of Americans out of jobs, BlackRock's CIO says
(DBN)

Is the wild ride over? Fed faces broader debate as it tees up rate hike
(DBN)

Long-feared corporate debt woes start to hit home • Factbox-Corporate debt woes are on the rise
(DBN)

IMF chief says prospects for medium-term global economic growth remains weak
(DBN)

Yellen Says China Slowdown Risks Spillovers But No US Recession
(DBN)

US banks warn stricter capital rules will raise prices
(DBN)

Americans are still better off, with more in the bank than before the pandemic
(DBN)

NY Fed report finds Americans increasingly facing borrowing headwinds • More Americans Are Getting Turned Down for Loans, Fed Data Shows
(DBN)

World economy in a difficult place but not destined to stay there - W.Bank chief
(DBN)

New York Manufacturing Barely Grows, While Price Gauges Retreat
(DBN)

Remote and hybrid jobs are making a comeback—here’s why
(DBN)

Gen Z is headed for a career calamity
(DBN)

10 reasons why the recession that Wall Street predicted to death never showed up
(DBN)

Grocery Price Inflation Drops at Fastest Rate Since Peak
(DBN)

Goldman’s Hatzius Cuts Odds of US Recession in Next Year to 20% • Goldman Sachs cuts probability of US recession in next 12 months
(DBN)

Yellen does not see recession in U.S.
(DBN)

Life is about to get much more expensive for millions of families
(DBN)

‘Pointless’ meetings aren’t the productivity drain bosses seem to think
(DBN)

These 10 states are America’s best at producing the workers that employers want to hire
(DBN)

The world is back to July 2022 — Russia's junked a vital food grain deal and Europe may be teetering on the brink of another energy crisis
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Negotiating Lease Security to Mitigate a Landlords Risk When a Tenant Files Bankruptcy
(DBN)

Homes Are Selling for Near-Record Highs as Supply Falls to New Low, Demand Picks Up • Home prices remain hot even as inflation cools
(DBN)

Home Price Expectations Trend Higher While Short-Term Inflation Expectations Continue to Moderate
(DBN)

Housing July 17th Weekly Update: Inventory increased 1.2% Week-over-week; Down 7.5% Year-over-year
(DBN)

Will house prices decline further later this year?
(DBN)

The housing market recession is already ending
(DBN)

Will house prices decline further later this year?
(DBN)

Sellers still want more for homes despite the mortgage crunch: Asking prices have edged up 2.6% since the start of the year
(DBN)

Fla. Homeowners Face Increasing Insurance Costs as Legislators Battle to Hold Costs Down
(DBN)

Banks face growing regulatory pressure to address risky CRE portfolios
(DBN)

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Municipalities:

FOMB's discriminatory treatment of PREPA bondholders 'ideological'
(DBN)

After bankruptcy, how Detroit's streetlights went from broken to working • How 2 bond insurers came to own key Detroit real estate after the bankruptcy • Detroit retiree fought historic bankruptcy pension and saving fund cuts. How he moved on • The architect of Detroit's bankruptcy filing 10 years ago says it was the best fix for a broken city • Charted: Detroit's financial health on upswing since bankruptcy • Detroiters look back on the bankruptcy 10 years later • 10 years after bankruptcy, Detroit is a city on the rebound • Revisiting Detroit's bankruptcy: "It must never happen again" • Detroit firefighter says short-lived retirement was 'greatest 7-month vacation' • 7 ways Detroit has changed a decade after bankruptcy • A Decade After Bankruptcy, Is Detroit Better? • How is Detroit doing 10 years after it filed for bankruptcy? • Decade after Detroit’s bankruptcy, city employees grapple with retirement insecurity and healthcare concerns
(DBN)

2023’s Most & Least Educated Cities in America
(DBN)

The Coming Crisis Of Cities: Reinvention Or Bankruptcy
(DBN)

Study: Texas ranks as the state with nation's lowest quality of life
(DBN)

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Oil/Gas:

Global Oil Demand to Reach Record High in 2023: IEA
(DBN)

The Shale Industry Is Dropping Drilling Rigs, Fast - WSJ
(DBN)

Are real gasoline prices really higher?
(DBN)

Electric Vehicles Prices Fall as Automakers Raise Production
(DBN)

Zombie Wells, Part 2: How forsaken oil wells are causing environmental chaos across Texas
(DBN)

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Tech:

Key Republicans ask for details on Threads content moderation
(DBN)

Twitter's new rivals suffer similar problems: Threads to use rate limits due to spam and Bluesky missed racist slurs
(DBN)

Race towards 'autonomous' AI agents grips Silicon Valley
(DBN)

The $1 billion gamble to ensure AI doesn’t destroy humanity
(DBN)

SEC’s Gensler Warns AI Risks Financial Stability
(DBN)

Elon Musk Should Focus on Tesla as EV Rivals Pounce, Investors Say
(DBN)

Warren urges SEC to investigate Tesla over Twitter ties, corporate governance
(DBN)

Twitter's valuation has been slashed by 47% at Ark Invest since Elon Musk took over
(DBN)

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Climate:

G20 panel says additional $3 trln needed by 2030 towards climate action
(DBN)

What this summer's weather reveals about climate change
(DBN)

Global temperatures near record highs as US, China meet on climate • Relentless heat wave reaching maximum strength • Record-breaking southwestern US heat wave to expand eastward this week • Summer-tested Phoenix braves relentless wave of extreme heat • Holidaymakers evacuated in Greece wildfires as extreme heat set to last until August • New Saharan Heat Blast Spells More Extremes for Europe • Phoenix ties record streak with 18 consecutive days over 110 degrees
(DBN)

History-making heat set to spread after weekend of triple-digit temperatures
(DBN)

Intense heat is on track to shatter record temperatures around the U.S.
(DBN)

Italy adopts new emergency protocol as cities face intense heat
(DBN)

‘Smokeageddon’ was unprecedented. We can expect more of the same •Why Canada’s wildfires will affect air quality for weeks to come • New York Air Quality Drops as Canadian Wildfire Smoke Returns
(DBN)

Tackling deadly heat in cities
(DBN)

South Korea's death toll from destructive rainstorm grows to 40 as workers search for survivors
(DBN)

European heatwave sparks warning to stay inside
(DBN)

Is climate change causing droughts, heatwaves, wildfires and floods?
(DBN)

There's no safe port in a changing climate
(DBN)

‘Underground climate change’ deforming ground beneath buildings
(DBN)

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Food/Beverage:

Church's Texas Chicken Owner to Buy 81 Bankrupt Hardee's Stores • The owner of Quiznos and Church's is buying some Hardee's restaurants out of bankruptcy
(DBN)

Forget ‘tipflation:’ Restaurant surcharges are a ‘hidden tax,’ one expert says
(DBN)

Bud Light lost its crown as America's 'King of Beers' — but it was going to happen even without the conservative boycott
(DBN)

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Medtech:

ViewRay Files for Bankruptcy & Plans to Sell Assets
(DBN)

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Health and Beauty:

Toppers Spa files for bankruptcy, leaving some customers with unspent gift cards
(DBN)

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Education:

How the Supreme Court's overturning of affirmative action could lead to the end of legacy admissions
(DBN)

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Entertainment:

Streaming's doomsday clock • Have Hollywood studios blown it with the streaming glut? They can’t say they weren’t warned
(DBN)

The Businessmen Broke Hollywood
(DBN)

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Insurance:

Hurricane Ian victim waiting for repairs after Florida insurer’s insolvency
(DBN)

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Labor:

Why celebrities are striking: The average pay for actors may surprise you
(DBN)

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New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Adversary Proceeding Filings (6 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Mass Torts:

Catholic diocese bankruptcy filing amid lawsuits • Roman Catholic Diocese in northern New York files for bankruptcy • Diocese of Ogdensburg facing over 100 child abuse lawsuits, files for reorganization • Facing more than 100 child sex abuse lawsuits, diocese files for bankruptcy
(DBN)

A Steak Dinner Keeps Ethics Questions Sizzling in J&J's Talc Bankruptcy
(DBN)

The $50 billion question: Are the right people steering the opioid settlement payouts?
(DBN)

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Antitrust:

Battling the Antitrust Monster in Chapter 11
(DBN)

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Plan Confirmation:

Last Minute Pre-Effective Date Contract May Be Unenforceable Against Reorganized Debtor
(DBN)

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Sovereign Immunity:

The Supreme Court Speaks: PROMESA Board Has Sovereign Immunity in Response to Puerto Rican Media Organization
(DBN)

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Contracts:

Emojis Are Increasingly Legally Binding. But They're Still Open to Wide Interpretation
(DBN)

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Aviation:

White House wants aviation bill to include new consumer protections
(DBN)

Pilots Seek New Contracts With Airlines Amid Booming Travel Demand
(DBN)

United Airlines pilots reach labor agreement, boost pay
(DBN)

____________

Travel:

Traveling by Bus Is No Longer a Plan B for Many Americans - WSJ
(DBN)

____________

Crypto:

Crypto’s New Favorite Bank Is Reluctant to Accept the Title
(DBN)

Celsius Estate Settles With Series B Holders Over Proceeds of GK8 Sale • Celsius Bankruptcy Case: $24M from GK8 Sale to Be Utilized for Legal Fees
(DBN)

Financial Stability Board Calls for Tougher Global Crypto Rules After Year of Turmoil
(DBN)

BlockFi Bet Big on FTX and Alameda Even After Seeing Infamous Balance Sheet, Creditors Say
(DBN)

____________

Pharma:

Dermatology company Novan files for bankruptcy and reaches deal for sale
(DBN)

Akorn Bankruptcy, Shortages Are Disrupting Patient Access to Generic Medications
(DBN)

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Banking:

Swiss investors set to launch legal challenge of Credit Suisse deal in pursuit of greater compensation
(DBN)

Rothschild Tussles Over 1980s Bond as Holders Chase Payout
(DBN)

Relentless funding costs drive expectations for big bank earnings declines
(DBN)

Be Careful with Letters of Credit
(DBN)

____________

Student Debt:

Biden’s New Income-Driven Repayment (“Save”) Plan: Budgetary Cost Estimate Update
(DBN)

Biden has another plan for mass student loan forgiveness. It could be excruciatingly long
(DBN)

Is Biden’s latest plan to cancel student debt vulnerable to legal challenges?
(DBN)

Supreme Court, Republicans to blame for lack of debt forgiveness, students say in poll
(DBN)

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Agribusiness:

Lean times hit the vertical farming business
(DBN)

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History:

Remembering the Elaine Massacre of 1919: America’s Bloodiest Racial Conflict that Targeted Black Americans
(DBN)

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Sovereigns:

Debt restructuring talks at G20 meet hurt by differences, low attendance
(DBN)

UN agency says no breakthrough on debt talks at G20 a 'grave concern'
(DBN)

IMF Approves $1 Billion for Kenya After Latest Loan Review
(DBN)

Sri Lanka: Progress in public debt restructuring
(DBN)

____________

UK:

Could the Characterization of Fixed Charges Be Approached with Greater Latitude Following the UK High Court’s Decision in Re Avanti Communications?
(DBN)

UK on track for most company insolvencies since 2009
(DBN)

Woolovers races to snap up ailing Hotter Shoes in pre-pack deal
(DBN)

Yellow Buses goes from administration to voluntary liquidation
(DBN)

____________

EU:

ECB’s Nagel Sees Hike in July But Data to Decide September
(DBN)

Europeans Are Becoming Poorer. ‘Yes, We’re All Worse Off.’ - WSJ
(DBN)

____________

Australia:

Jones Day welcomes Kathryn Sutherland-Smith in Sydney as of counsel in Firm's Business Restructuring & Reorganization Practice
(DBN)

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Russia:

Biden and Vatican emissary to meet on Russia’s deportations of Ukrainian children
(DBN)

Russia ramps up its economic war with the West as it seizes local operations of 2 corporate giants
(DBN)

Russia killed off the Black Sea grain deal. What happens now? • Congress foreign policy leaders slam Russian grain deal termination • Wheat prices seesaw after Russia pulls out of the Black Sea grain deal • Ships no longer safe in Black Sea, Russia says after quitting grain deal • Insurers reviewing Black Sea ship cover after Russia quits deal • What Russia's withdrawal from the grain deal means for the world • Higher food prices and more hunger: Collapse of Black Sea grain deal poses a massive threat
(DBN)

Russia says strikes on Odesa are in retaliation for bridge attack
(DBN)

Ukraine launches land and sea drone attacks on major Crimean navy port • What We Know About the Attack on the Crimean Bridge • Why the Crimean Bridge is so important to Vladimir Putin
(DBN)

Russia Steps Up Economic War With West, Seizing Assets of Big Conglomerates - WSJ
(DBN)

Large Shares See Russia and Putin in Negative Light, While Views of Zelenskyy More Mixed
(DBN)

'Chaos' is fueling fights among Putin's top commanders. These are the players battling for power.
(DBN)

____________

China:

It's official: China's economy is faltering
(DBN)

China's frail Q2 GDP growth raises urgency for more policy support
(DBN)

China Evergrande Posts $81 Billion in Losses Over Two Years • Evergrande's overdue results show steep losses, liabilities • Evergrande posts losses of $81 billion over two years as it reports long-delayed results • Evergrande’s liabilities, depleted coffers raise business viability concerns • China Evergrande Seeks Court Approval for Agreement Arrangement Meetings with Creditors
(DBN)

Yellen Says China Slowdown Risks Spillovers But No US Recession
(DBN)

Millennials struggled to get jobs in the Great Recession. Right now, it's even worse for Chinese Gen Zers.
(DBN)

China's property market is shrinking at a faster pace, dragging further on the economy
(DBN)

China's quarterly report card is in, and it's bad — but Beijing is unlikely to step in and prop up the economy just yet
(DBN)

One Reason China Is Willing to Engage Again: Its Troubled Economy
(DBN)

____________

MENA:

Biden to call Bibi as protests against Israel's judicial overhaul intensify • Israel: Judicial overhaul draws more protests
(DBN)

Israeli President’s White House Visit Highlights Biden’s Anger at Netanyahu
(DBN)

Jayapal's Israel comments spark internal backlash • Rep. Pramila Jayapal walks back her comments calling Israel a 'racist state'
(DBN)

____________

Brazil:

Brazil's Light lenders un-fazed by restructuring proposal
(DBN)

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India:

Secured Creditor Has To Take Calculated Decision Whether Or Not To Relinquish Secured Interest: SC In Appeal Challenging Liquidation Proceedings
(DBN)

____________

Hong Kong:

Navigating the Legal Landscape of Keepwell Deeds and Equity Interest Purchase Undertakings: Insights from Recent High Court Decisions
(DBN)

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