July 20, 2023

The Daily Bankruptcy News

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Law:

Top 50 Am Law Firm's Leader Explains His Decision On Layoffs, Deferrals Amid Turbulent Economy
(DBN)

Are Redundancies On The Horizon After Allen & Overy Merges With Shearman?
(DBN)

Partners, Associates, Staff Flee Biglaw Firm After Merger Efforts Crumble
(DBN)

New bar exam gets lukewarm reception in previews
(DBN)

Wellsboro grad shares winning bankruptcy case before Supreme Court
(DBN)

Millionaire 'magic circle' lawyer who sailed on £17m superyacht faces bankruptcy for failing to hand £19m fund back to Saudi princess
(DBN)

Attorney Posts About Case On Social Media, So Judge Vacates The Jury Verdict
(DBN)

Recent Law School Grads Are Remarkably Content With Their Current Jobs
(DBN)

News Flash: Stealing Your Jailed Client's Money Isn't The Best Idea
(DBN)

Law Schools Are Still Set On Diversity Even After The Supreme Court's Affirmative Action Decision
(DBN)

Do Some Lawyers Suffer From Moral Injury?
(DBN)

Biglaw Partner And Client, NFL Team The Washington Commanders, Hit With Defamation Lawsuit
(DBN)

How GPT and other large language models could change e-discovery
(DBN)

Why was lawyer arrested after tossing old license plate in trash?
(DBN)

Two-time Olympic cyclist turned ‘bicycle attorney’ talks about the road to bike law
(DBN)

Trump got a new legal headache this week. Then another, then another Looming indictment wrenches open the central question of 2024: Is Trump fit to serve?
(DBN)

Christie Calls Classified Documents Case Worst of Trump’s Charges
(DBN)

Trump loses bid for new trial in E. Jean Carroll case Donald Trump raped E. Jean Carroll even though he was found liable only for 'sexual abuse,' judge rules Court Rejects Trump's Motion For New Trial, Brands Trump A Digital Rapist In Carroll Case
(DBN)

Judge rejects Trump’s bid to move hush money case to federal court 'Purely a Personal Item': US Judge Says Manhattan DA's Criminal Case Against Trump Belongs in State Court
(DBN)

Trump’s team scrambling to figure out whether special counsel has evidence, witnesses they don’t know
(DBN)

Jan. 6 grand jury will speak with another witness
(DBN)

IRS whistleblowers will testify to Congress as they claim ‘slow-walking’ of the Hunter Biden case Democrats question Hunter Biden whistleblower's claim of nonpartisanship Credibility, ‘discretion’ and Trump: Breaking down the House GOP’s Hunter Biden whistleblowers hearing Foreign nationals gave Biden family and associates over $17M, IRS whistleblower claims
(DBN)

Taylor Green Turns Congress into P--- Show
(DBN)

A Jan. 6 Trump Indictment Would Include Very Serious Charges
(DBN)

How Trump commands the narrative of his own legal woes
(DBN)

Shaker Heights attorney, a Trump supporter, tells judge he voted twice in last two elections by accident
(DBN)

Trump Under Investigation for Civil Rights Conspiracy
(DBN)

Veteran who stormed Capitol with pistol sentenced Convicted Jan. 6 rioter who refused to do business with Democrats sues CNN for $37 million
(DBN)

'A wild goose chase': Giuliani associate urges House GOP to abandon Biden probe
(DBN)

Women give emotional testimony over abortion ban Maine governor expands abortion access Seven North Texas Women Are at the Center of the First Major Challenge To Texas’ Abortion Laws
(DBN)

Illegal border crossings dip to lowest level in over 2 years Vanishing act: DHS admits that 40% of migrants released on parole disappeared
(DBN)

For Families of 8 Other Gilgo Beach Victims, an Agonizing Wait Goes On 'Disgusted' wife of accused Gilgo Beach killer files for divorce
(DBN)

Muslim legislator attacked outside Eid prayer says incident should be looked into as a hate crime
(DBN)

Naked brothers who escaped feces-covered home looked like 'cavemen' who had 'never seen the sun before': docs
(DBN)

Conviction for decapitating girlfriend reversed to acquittal for 'mental illness'
(DBN)

New York City agrees to pay $13 million to 2020 racial injustice protesters in historic class action
(DBN)

Florida jury awards 8-year-old girl $800K after she got 2nd-degree burns from a McDonald's chicken nugget
(DBN)

Scammers clone girl's voice to trick mom in $50K kidnapping scheme: 'Sheer panic'
(DBN)

Man who claimed self-defense gets life for killing neighbor who knocked on wrong door
(DBN)

Japan to deploy pre-crime behavior tech
(DBN)

Illinois will make history as result of state supreme court decision on cash bail law
(DBN)

North Dakota gunman had 1,800 rounds of ammo, homemade grenade when launching attack on officers: Police
(DBN)

Survey of 30 U.S. Cities Shows Nearly 10 Percent Drop in Homicides in 2023
(DBN)

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Judges:

More Americans say Supreme Court is too conservative: survey
(DBN)

Senate Panel Set to Vote on US Supreme Court Ethics Reform
(DBN)

Justice Brett Kavanaugh Charms Judicial Conference But Ducks Supreme Court Ethics, Partisanship Concerns
(DBN)

Which judges are on GOP presidential candidate’s SCOTUS short list?
(DBN)

With one exception, Trump-appointed appeals judges are more likely to vote in favor of religious liberty, new study says
(DBN)

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Wall Street:

Nasdaq-100 futures fall as Netflix shares decline after earnings
(DBN)

Steep Profit Fall at Goldman Sachs Highlights Wall St. Giant’s Woes
(DBN)

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Layoffs:

David’s Bridal to close 13 Texas stores and cut 441 jobs
(DBN)

Amarin axes 120 of its 385 employees
(DBN)

US Bank imposes mortgage layoffs
(DBN)

Property giant Lendlease to lay off 740 employees
(DBN)

European companies cut jobs as economy sputters
(DBN)

______________

Healthcare:

House Republicans push back on Biden plan to extend Medicaid to DACA recipients
(DBN)

Fatal overdoses from cocaine and opioids rise
(DBN)

4 members of a Florida family are convicted of selling a fake COVID-19 cure through online church
(DBN)

Louisiana lawmakers reassert ban on gender-affirming care, overriding veto
(DBN)

____________

Politics:

Biden video mocking Marjorie Taylor Greene speech hit over 30M views in 12 hours
(DBN)

Biden downplays age talk — but subtle accommodations are being made
(DBN)

‘Gut-level Hatred’ Is Consuming Our Political Life
(DBN)

Almost half in new poll would consider third-party presidential candidate
(DBN)

DeSantis’ latest policy plan, this time on the military, again focuses on ‘woke’
(DBN)

Senators to Propose Ban on U.S. Lawmakers, Executive Branch Members Owning Stock
(DBN)

Jason Aldean defends controversial single decried as a 'modern lynching song,' says backlash is 'not only meritless, but dangerous' CMT pulls Jason Aldean's music video after accusations of being 'pro-lynching' Sheryl Crow says Jason Aldean is 'promoting violence' with a song that is 'not American'' Jason Aldean, ABC blasted for ‘Try That in a Small Town’ CMA Fest set: ‘Disgrace’
(DBN)

Huckabee Sanders' 2024 neutrality frustrates Trump
(DBN)

Trump's energy industry donors defect to his primary rivals
(DBN)

Trump not joining debate would be ‘a mistake,’ RNC chair says
(DBN)

Trump has 47% support among Republicans; DeSantis at 19% - Reuters/Ipsos
(DBN)

DeSantis, Abbott taunt Democrats with controversial immigration moves
(DBN)

Matt and Ginger Gaetz channeled MAGA Barbie and Ken on the pink carpet, but she didn't like the movie because of Ryan Gosling's 'beta energy'
(DBN)

Tim Scott's formidable charm meets a tough Republican electorate Tim Scott-boosting super PAC drops $40 million in fall ad reservations
(DBN)

Christie pokes at DeSantis: 'We don't make our country better by continuing to rumormonger things'
(DBN)

The wild gimmicks Republicans are trying to get on the debate stage
(DBN)

‘We’re going to work this out': Tuberville open to deal on military holds Schumer offers Tuberville abortion vote amid military blockade Tuberville still dug in after Pentagon abortion policy briefing
(DBN)

Kari Lake: Always Wrong but Won't Stop
(DBN)

GOP strategists say Trump’s rising legal problems could kneecap him against Biden
(DBN)

____________

Student Debt:

Biden is forgiving $39 billion in student debt — here’s who qualifies
(DBN)

When student debt payments restart, your loan type will make a big difference
(DBN)

Senators concerned about whether student loan servicers can handle resumed payments
(DBN)

DeVos calls latest Biden student loan move a ‘blatant vote buy’
(DBN)

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Economy:

Chart: The economy is officially doing better than we thought
(DBN)

Borrowers are getting rejected for loans at the highest rate in 5 years
(DBN)

A $500 Billion Corporate-Debt Storm Builds Over Global Economy
(DBN)

One Economist Is Challenging How We Think Money Works
(DBN)

Community, hobbies, money more important to Americans: Gallup
(DBN)

Employees earning over $150,000 are more likely to prefer WFH, McKinsey research finds
(DBN)

America Is Becoming a Nation of Early Birds - WSJ
(DBN)

Here's the highest-paying non-doctor job in each state
(DBN)

Democratic AGs blast Republicans trying to ‘intimidate’ corporations on diversity efforts Democratic AGs Pledge Legal Cover for Companies’ Diversity Goals
(DBN)

Texas tops list of worst places to live and work in America, study says
(DBN)

What the data says about food stamps in the U.S.
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

SDNY Chooses “Time Approach” to Calculating Lease Termination Damages Collectible Against a Bankrupt Estate
(DBN)

The last, best hope for homebuyers
(DBN)

Office vacancy hits an all-time high despite more people returning to in-person work
(DBN)

Commercial real estate billionaire Barry Sternlicht’s firm just defaulted on a $212.5 million Atlanta office tower
(DBN)

Lawler: Early Read on Existing Home Sales in June & 4th Look at Local Markets
(DBN)

AIA: Architecture Billings "Stable" in June; Multi-family Billings Decline for 11th Consecutive Month
(DBN)

Housing Starts Decreased Sharply to 1.434 million Annual Rate in June New home construction dipped last month after May surge June Housing Starts: Record Number of Multi-Family Housing Units Under Construction
(DBN)

The 15 best US cities for renters right now, ranked by incomes, rents, and quality of life
(DBN)

Get ready for a historic slowdown in home-price growth, Goldman says
(DBN)

Families owed millions in deposit refunds after one of Illinois' largest retirement communities files for bankruptcy
(DBN)

Landmark Rochester East End properties head to foreclosure auction
(DBN)

____________

Municipalities:

Shipping containers to house homeless people in San Diego neighborhood
(DBN)

An Amazon-backed wind farm is coming to a struggling Mississippi Delta community
(DBN)

As financial crisis unfolded, state had no solution for Highland Park debt
(DBN)

____________

Oil/Gas:

Halliburton, Baker Hughes beat on profit estimates, shares fall on outlook
(DBN)

Lawyer's RICO suit seeks to force fossil fuel companies to pay for hurricane damage
(DBN)

China Snaps Up Record-High Volumes Of Russian Crude In The First Half Of 2023
(DBN)

____________

Tech:

What if AI models like GPT-4 don't automatically improve over time?
(DBN)

I lost my job to ChatGPT and was made obsolete. I was out of work for 3 months before taking a new job passing out samples at grocery stores.
(DBN)

ChatGPT showed it could pass a freshman year at Harvard and achieve a 3.34 GPA, student says
(DBN)

Gen Z workers at a medical company are automating tedious jobs and dramatically boosting productivity, exec says
(DBN)

The AI behind ChatGPT really does seem to be getting dumber — but no one can quite figure out why
(DBN)

Why waiting for AI regulations from government could be a catastrophic mistake
(DBN)

____________

Water:

My City Has Run Out of Freshwater. Will Your City Be Next?
(DBN)

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Theater:

One of America’s Proudest Cultural Institutions Is Imploding Before Our Eyes
(DBN)

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Education:

Southern California school board rejects curriculum that mentions Harvey Milk
(DBN)

Virginia finalizes guidance on trans students, rolling back some accommodations
(DBN)

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Labor:

UPS is on the brink of a strike. A 10-day work disruption would be the costliest in modern history.
(DBN)

Mandy Moore reveals she was paid 'tiny, like 81-cent checks' for 'This Is Us' streaming residuals
(DBN)

They're Hollywood’s rank and file — and they're out of a job, too
(DBN)

Fran Drescher on Bob Iger: He Says “We’re Unrealistic When He’s Making $78,000 a Day”
(DBN)

Showstopper! Strikes Plunge Hollywood Into Chaos With Pricey Movie Delays, Pay Battles and AI Anxiety
(DBN)

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Publishing:

The Old Guard Is Out at Penguin Random House
(DBN)

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Trucking:

How a Yellow bankruptcy could uproot supply chains in real time
(DBN)

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Retailing:

Retail is a S---show, Again. Part I
(DBN)

____________

Autos:

Carvana: The Bankruptcy That Wasn't Apollo, Pimco Show Creditors Can Play Nice With Carvana Deal
(DBN)

Tesla Price Cuts Squeeze Its Industry-Leading Profits
(DBN)

How Tesla almost went out of business — and then broke the auto industry
(DBN)

____________

Food/Beverage:

Boba chain files for bankruptcy, leaves workers in the lurch
(DBN)

____________

Sports:

MLB taking on local broadcasts proves a mad scramble
(DBN)

'Bally Sports' broadcaster just lost another MLB team's games; are the Brewers closer to leaving the channel?
(DBN)

Arizona Coyotes address TV future after regional channel dropped Diamondbacks
(DBN)

____________

Bicycles:

What VanMoof’s Fall Means for the Future of Premium E-Bikes
(DBN)

____________

Celebs:

Katie Price admits she has asked to go to prison instead of being declared bankrupt and says she had romances with women in the Playboy mansion
(DBN)

____________

Private Equity:

Private equity’s favorite way to make acquisitions may be illegal, FTC chair Lina Khan says
(DBN)

____________

Crypto:

Inside the Private Writings of Caroline Ellison, Star Witness in the FTX Case
(DBN)

FTX Seeks to Recover $71M from Its Philanthropic and Life Science Arms Bankrupt FTX sues Sam Bankman-Fried for $71M to recover ‘political capital’ payments
(DBN)

FTX Australian creditors seek $353m from global bankruptcy
(DBN)

Investor Alert: False Crypto Bankruptcy Website
(DBN)

Crypto prediction market says Binance has 12% chance of insolvency by 2024
(DBN)

Celsius could repay all claims if Bitcoin, Ether prices rose 2X — Simon Dixon
(DBN)

____________

Utilities:

Utility Investors Wary of Exposures After Buffet’s PacifiCorp Held Liable for Wildfires
(DBN)

____________

Agribusiness:

Square Roots `smart farm' pauses commercial production after 18 months, lays off undisclosed number of staff
(DBN)

____________

Transit:

Price of N.Y.C. Subway Ride Is Set to Go Up for the First Time in Years
(DBN)

____________

 


New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (29 new filings today)
(DBN)

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

Chapter 11 Bankruptcy Case Studies
(DBN)

Mass Torts:

Tide May Be Turning on Texas Two-Step Bankruptcy Strategy
(DBN)

Judge Issues Oct. Deadline for RVC Diocese Settlement Plan Bankrupt Long Island Diocese Gets Deadline to Produce a Plan Rockville Diocese Granted More Time in Bankruptcy
(DBN)

Archdiocese's lawyers make millions as hundreds of sex abuse survivors haven't seen any money
(DBN)

Could the $18.8M Talc Verdict Threaten J&J's Bankruptcy Plan?
(DBN)

Trial lawyers who won $1.5B from Alex Jones for Sandy Hook families earn top honor
(DBN)

Post-it maker 3M is in danger of coming unstuck
(DBN)

____________

DIP Finance:

Loan-to-Own 2.0
(DBN)

____________

UST:

Courts require repayment of Trustee Program bankruptcy fees deemed unconstitutional by Supreme Court
(DBN)

____________

Advisors:

The Brattle Group Welcomes Insolvency Expert Rafael Klotz as Principal
(DBN)

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Avoidance Actions:

Attorneys Fees Awarded For Fraudulent Transfer Deemed Not Dischargeable In Kruse
(DBN)

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Aviation:

I almost got banned from American Airlines for ‘skiplagging.’ I was terrified when my boarding pass was flagged and I’ll never do it again.
(DBN)

After DGCA audit, Go First proposes to scale down revival plans by 30%
(DBN)

India's SpiceJet challenges lessors' insolvency petitions
(DBN)

Hainan Airlines’ Creditors to Swap USD25.1 Million Debt for Equity
(DBN)

____________

Climate:

In Florida, Swimmers Brave an Ocean That Feels Like Steamy Syrup
(DBN)

US city world's first to become 'uninhabitable' without air con, meteorologist says
(DBN)

Canada wildfires devour land, vault CO2 emissions higher
(DBN)

Majority expecting ‘significant negative effect’ from climate change: poll
(DBN)

In Phoenix, 18 Days of Extreme Heat With No End in Sight Phoenix shatters heat record that has stood for almost 50 years Phoenix hits record for 19th day of 110+ degrees in a row — with more ahead
(DBN)

116 degrees at night: Death Valley's extreme heat goes off the charts from climate change
(DBN)

Welcome to Summer Camp! You Can Play Outside for 15 Minutes - WSJ
(DBN)

EU sends water bombers to combat Greece wildfires as temperature records tumble
(DBN)

Why ultra-green Germany turned its back on nuclear energy
(DBN)

Kerry’s effort to secure climate deal with China falls short U.S.-China climate talks are back on track — with obstacles
(DBN)

The ‘very liberal’ doctor, the pro-GOP car dealer and the movement against offshore wind
(DBN)

Modern ‘Sixth Mass Extinction’ Event Will Be Worse Than First Predicted
(DBN)

____________

Education:

Wesleyan ends legacy admissions after Supreme Court affirmative action ruling
(DBN)

____________

Personal Finance:

The No. 1 resume red flag, according to a former Google recruiter
(DBN)

$1 Billion Lottery Ticket Sold in California
(DBN)

____________

Entertainment:

Bron Studios, Co-Financier Behind ‘Joker’ and ‘Licorice Pizza,’ Files for Bankruptcy Indie Financier Bron, Which Backed ‘Joker’ And ‘Licorice Pizza’, Files For Bankruptcy
(DBN)


Bob Iger moves to calm Disney staff after sparking ‘high anxiety’ over potential sale of TV assets
(DBN)

____________

Fraud:

Ponzi Schemer Who Got Clemency From Trump Charged in New Fraud
(DBN)

____________

Sovereigns:

Sri Lanka's Parliament approves new anti-corruption law as part of an IMF economic bailout plan
(DBN)

____________

UK:

What constitutes "carrying on business" for the purposes of a bankruptcy petition?
(DBN)

Transactions defrauding creditors: Court of Appeal favors wide interpretation of s.423 Insolvency Act 1986
(DBN)

Denaxe Ltd v Cooper and another has helped to shed some light in respect of immunity from claims around the sale of assets for receivers
(DBN)

Local authorities need an emergency rescue package
(DBN)

UK borrowing costs drop sharply after lower-than-expected inflation print
(DBN)

____________

Canada:

Corporate Attribution in Insolvency: Key Differences Between Aquino and Golden Oaks
(DBN)

ATM provider Perativ files for bankruptcy protection
(DBN)

Court provides guidance on debt enforcement and jointly-owned property
(DBN)

____________

Venezuela:

Who are Venezuela creditors seeking to seize Citgo? US extends protection to Citgo from creditors
(DBN)

____________

China:

Mutual Recognition & Assistance To Insolvency Proceedings In HKSAR & China.
(DBN)

China Poses ‘Alarming’ Threat to US Grid, Lawmakers Told
(DBN)

Evergrande creditors seized a $1.6 billion tower they can’t sell
(DBN)

Chinese mortgage strikers despair as unfinished homes stay stalled
(DBN)

Young homebuyers take refuge in China's rust-belt towns
(DBN)

China says foreign trade faces ‘extremely severe’ situation, blames geopolitics for slump
(DBN)

State Department faces bipartisan pressure to reveal 'what was on' Chinese spy balloon
(DBN)

Biden Administration Bans Funding for Wuhan Lab
(DBN)

Can China’s new action plan lift economy out of deep-rooted malaise, bring market peace of mind?
(DBN)

____________

Russia:

Top US firms supplied equipment to keep Russian oil flowing after Ukraine invasion
(DBN)

Putin ordered 2 Western corporate giants to be seized after Kremlin-friendly businessmen expressed an interest in them: report
(DBN)

UK spy chief: Putin ‘under pressure’ at home after ‘humiliating’ deal with Prigozhin Putin cut deal with Wagner chief ‘to save his skin,’ MI6 head says
(DBN)

China ‘complicit’ in Russia’s invasion of Ukraine, MI6 chief
(DBN)

Ukraine's farmers fear the worst after grain deal collapses
(DBN)

All Is Not Well on Russian Front Lines
(DBN)

Allies' 'main effort' for Ukraine shifting from donating weapons to fixing them
(DBN)

Wagner troops won’t go back to fight in Ukraine, Prigozhin says
(DBN)

51 percent disapprove of Biden decision to send cluster bombs to Ukraine: poll
(DBN)

Argentina Rejects Russia-Sourced LNG Cargo, Citing Sanctions
(DBN)

____________

MENA:

Israeli protesters block travel as Netanyahu moves ahead with judicial overhaul Protests Simmer in Israel as Country’s President Prepares to Address Congress Israeli president promises to ‘protect and defend’ democracy in face of judicial crisis
(DBN)

____________

India:

Role of retail debenture holders in insolvency resolution
(DBN)

____________

Australia:

Insolvency law reform
(DBN)

Changes to Australia’s corporate insolvency laws
(DBN)

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Luxembourg:

New rules on business preservation and modernization of insolvency law
(DBN)

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New Zealand:

Beds, baths and bankruptcy: A bewildering battle over branding
(DBN)

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