July 28, 2023

The Daily Bankruptcy News

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Law:

Biglaw Associates Are NOT Happy With This 4-Day Office Mandate Ropes & Gray Latest Firm to Move to Four Days a Week In-Office
(DBN)

27 lawyers leave Stroock as it continues to seek merger partner Stroock Departures Intensify as 27 Lawyers Decamp to Steptoe
(DBN)

Where The Billable Hours Are Reasonable...
(DBN)

Not Every Biglaw Firm Is As Inflexible About Working From Home As Others
(DBN)

The 1,800-Hour Year: Pipe Dream or Essential for Lawyers' Well-Being?
(DBN)

Burford-Backed Investors Seeking $16 Billion in Gas Deal Payout
(DBN)

The Bar Exam Is Bad, But It Can Be Even Worse
(DBN)

Golden Gate Law students with free tuition plan to stay at the school despite concerns Bumps Or No Bumps, A Free Ride At Law School Is A Free Ride
(DBN)

4 Things Outside Counsel Can Do Instead Of Taking Me To Dinner
(DBN)

Why GCs need to step back from day-to-day legal work
(DBN)

Unconventional Business Models With Conventional Success For Law Firms
(DBN)

"Ferocious" litigator in row with neighbors over helipad
(DBN)

Lawyer who told interviewee “mmm, I like what I see” loses appeal
(DBN)

Taylor Swift Infiltrates Biglaw Recruiting
(DBN)

A Possible End To Incivility? Even On Social Media?
(DBN)

Dentons accused of anti-money laundering 'failures'
(DBN)

Trump attorneys meet with special counsel, make case for why Trump shouldn't be indicted: Sources Trump says his attorneys had 'productive meeting' with DOJ Trump lawyers told to expect new indictment in Jan. 6 probe: report Biglaw Partner Neal Katyal Sounds Off On When We Can Expect That Third Donald Trump Indictment McCarthy, House GOP tiptoe toward Biden impeachment Grand jury hearing evidence from the special counsel’s probe is meeting Which charges could be in a Jan. 6 indictment of Donald Trump?
(DBN)

Trump once condemned the Jan. 6 rioters. Now he’s become one of their biggest supporters
(DBN)

What was the fake elector plot by Trump allies following the 2020 election?
(DBN)

Special counsel adds charges against Trump in classified documents case Factbox: The new charges in the Trump classified documents case Trump had his 'body man' travel to Mar-a-Lago to figure out how to delete security footage of classified documents, DOJ alleges in new charges Trump Reacts to New Charges in Mar-a-Lago Documents Case
(DBN)

Why Trump’s Next Criminal Case is Uniquely Dangerous for Him
(DBN)

Trump Claims Victory After $5 Million Carroll Verdict, As Court Reminds Him That He's A Colloquial Rapist
(DBN)

‘I have been indicted’: Michigan lawyer says she'll be charged in vote machine tampering case
(DBN)

DOJ asks judge for removal of Texas floating barrier in Rio Grande
(DBN)

Rudy Admits He Defamed Georgia Poll Workers, But Claims He Had A First Amendment Right To Do It.
(DBN)

Barricades go up outside Fulton County courthouse as DA nears decision on indicting Trump
(DBN)

Teen who stormed Capitol on Jan. 6, sat in Pence chair sentenced to prison Former Michigan GOP gubernatorial candidate pleads guilty to Jan. 6 charge
(DBN)

Rejected plea deal leaves Hunter Biden's team fuming Hunter Biden plea deal shows feds agreed to not charge past crimes — but changed course in court Hunter Biden’s plea deal is in limbo, but the narrative is set How a new twist in the Hunter Biden case and Trump’s possible third indictment are defining the 2024 campaign Hunter Biden's Courtroom Reversal Extends His Legal Limbo, Political Exposure
(DBN)

Hunter Biden's BigLaw lawyers deny deception day before their client’s plea deal put on hold
(DBN)

White House rules out pardon for Hunter Biden
(DBN)

Biden administration ramps up deportations Busloads of Migrants Keep Arriving in L.A. From Texas
(DBN)

Ariz. girl missing since 2019 walks into tiny police station several states away, asks to be taken off missing children list
(DBN)

California stabbing suspect arrested after posting video of the fatal attack online, police say
(DBN)

Florida woman sentenced to 4 years in romance scam that stole Holocaust survivor’s savings
(DBN)

First responders who put woman in body bag when she wasn't dead can't be sued: Ruling
(DBN)

Girl allegedly concocted kidnapping hoax because she thought it 'would be funny'
(DBN)

Parents charged after 5-year-old allegedly found a gun and killed his toddler brother
(DBN)

Husband who paid undercover agent posing as contract killer gets maximum prison time
(DBN)

Expert questions Bryan Kohberger's potential alibi defense strategy in Idaho 4 murders
(DBN)

Mother of Uvalde mass shooting victim announces run for city’s mayoral position
(DBN)

Department of Justice to investigate city of Memphis and its police department
(DBN)

Man attacked by a police dog in Ohio as he surrendered feared he might die
(DBN)

In searing rebuke of FBI, judge orders release of ‘Newburgh Four’ terrorism defendants
(DBN)

Their Families Said They Needed Treatment. Mississippi Officials Threw Them in Jail Without Charges.
(DBN)

Celebrity Forensic Scientist Liable For Fabricating Evidence that Sent 2 Teens to Prison for 30 Years
(DBN)

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Judges:

Public Notice for Reappointment of a Bankruptcy Judge - Hon. Mildred Cabán
(DBN)

Diane Humetewa: First Female Native American Federal Judge
(DBN)

How Supreme Court Justices Make Millions From Book Deals
(DBN)

No summer break for Supreme Court ethics debate
(DBN)

Judge Who Thought His Obvious Conflict Of Interest Wasn’t A Conflict Of Interest Told In No Uncertain Terms: Yea, It Was A Conflict of Interest
(DBN)

The Most Shameless Attempt to Audition for Clarence Thomas’ Job Yet
(DBN)

The Worst Trump Judge in America is Chad Readler
(DBN)

Former judge charged with falsifying docket entries
(DBN)

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Wall Street:

Stock futures are higher as investors look toward Fed’s favorite inflation gauge
(DBN)

The Dow just posted its best winning streak since the 1980s. Why it keeps going higher
(DBN)

The Dow is on pace to do something today it hasn’t done since 1897
(DBN)

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Layoffs:

Low-wage earners are 14 times more likely to lose jobs to AI, report finds
(DBN)

Which U.S. Workers Are More Exposed to AI on Their Jobs?
(DBN)

Bud Light maker Anheuser-Busch lays off hundreds of US corporate workers after sales slump
(DBN)

Anheuser-Busch InBev to cut 3,800
(DBN)

T. Rowe Price cuts additional 2% of staff in fresh round of layoffs
(DBN)

‘Entertainment Tonight’ Undergoes Layoffs of 10%
(DBN)

Grand Design RV announces 170 layoffs
(DBN)

Amazon Fresh Lays Off Hundreds of Workers
(DBN)

Mass layoff impacting 500 workers at Opelika manufacturing plant
(DBN)

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Healthcare:

Multimillionaire Psychologist Wins Bid To Repurchase Her Bankrupt Chain Of Autism Therapy Centers
(DBN)

“Scared out of my mind”: A family scrambles after their disabled 3-year-old loses Medicaid
(DBN)

An Unwelcome Visitor Returns This Summer. Hint: It's Covid.
(DBN)

Karl Rove roasts DeSantis for floating RFK Jr. to lead health agencies: ‘this guy’s a nut’
(DBN)

Michigan bans conversion therapy for LGBTQ youth
(DBN)

In the US, a fungal disease is spreading fast. A hotter climate could be to blame.
(DBN)

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Fraud:

Legendary tech billionaire accused of fraud in pot startup lawsuit
(DBN)

Florida currency trader is accused in staggering $35M Ponzi scheme
(DBN)

Former CEO of Hallandale investment firm indicted in securities fraud
(DBN)

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Banking:

Axos Bank--More Sketchiness?
(DBN)

US Bank Regulators Release Sweeping Plan to Overhaul Capital Requirements
(DBN)

Powell voices skepticism at Fed's own bank rule proposal
(DBN)

Newly unveiled banking regulation wouldn’t have prevented this year’s US bank failures
(DBN)

Tougher banking rule proposal exposes division among Fed officials
(DBN)

JPMorgan rides to the rescue again, snapping up mortgages worth $1.8 billion as part of PacWest merger
(DBN)

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Tech:

Warren, Graham partner in proposing new agency to regulate tech giants
(DBN)

Meta adds $69 billion in market value after Mark Zuckerberg sees advertising rebound and talks up Threads potential
(DBN)

House Republicans put contempt vote targeting Zuckerberg on hold
(DBN)

Elon Musk and company take @x handle from its original user. He got zero dollars for it.
(DBN)

Elon Musk Welcomes Child Sex Abuse Imagery Poster Back to Twitter
(DBN)

Elon Musk Doesn't Have a Plan For Twitter, Or Anything Really
(DBN)

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Transit:

Mass transit agencies seeking financial solutions
(DBN)

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Economy:

Corporate credit quality weaker than markets factor in - Janus Henderson
(DBN)

GDP grows at 2.4% pace, topping expectations
(DBN)

U.S. economic growth unexpectedly picks up in second quarter U.S. Economy Continues To Rip, Defying Fed Rate Hikes and Bank Crisis US economy blows past expectations: 3 quick takeaways The economy's dream scenario just got even closer
(DBN)

Bidenomics could make inflation worse, former US Treasury Secretary Larry Summers says
(DBN)

Real estate billionaire Barry Sternlicht says the storm heading for the sector is unavoidable – and recession is coming despite soft landing talk
(DBN)

Here's what the Fed's likely going to do the rest of the year, according to investors
(DBN)

The U.S. and China build their economic arsenals
(DBN)

A neurodivergent Tiktoker struggling with 'time blindness' faced backlash online for requesting accommodations at work. Experts say 'it's a real thing.'
(DBN)

Mark Zuckerberg is $9 billion richer after Meta earnings, and has more than doubled his net worth in 2023 to $118 billion
(DBN)

Why Americans making over $200,000 are flocking to Idaho and Montana
(DBN)

House GOP approves first government funding bill amid intense spending fight House GOP bails on funding fight amid conservative impasse Senate passes defense bill with bipartisan support, but clash looms with House over social issues
(DBN)

Leaked guidelines reveal more details about Amazon's controversial 'voluntary resignation' program for remote workers
(DBN)

The 'lazy girl jobs' trend is being fueled by 20-somethings who haven't made hard decisions or done hard things, says an NYU business professor
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

US Pending Home Sales Surprise With First Advance in Four Months US pending home sales rose last month for the first time since February
(DBN)

A top real estate economist just declared that the housing recession is over
(DBN)

The 10 most affordable places to live in the U.S.
(DBN)

Home equity loans searches hit record high as economy squeezes owners: analysis
(DBN)

Cities Where the Most Mortgages Are Underwater
(DBN)

Cook County landlords face legal challenges alleging eviction screening policies discriminate against Black tenants
(DBN)

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Municipalities:

Milwaukee County approves sales tax increase as part of plan to avoid bankruptcy
(DBN)

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Oil/Gas:

Supreme Court Lets Work Resume on Gas Pipeline Backed by Manchin
(DBN)

Which creditors will have priority for Citgo share auction?
(DBN)

U.S. gas prices hit 8-month high
(DBN)

Which Countries Produced and Consumed the Most Renewables in 2022?
(DBN)

Ford Pushes Back EV Targets
(DBN)

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Autos:

Lordstown Motors Must Face Karma Trial Despite Bankruptcy Judge Rules Against Lordstown Motors, Lifts Stay on Trade Secrets Case Lordstown Motors stalls on the road to a quick bankruptcy sale
(DBN)

Tesla has been exaggerating its vehicles' potential driving distance for years by rigging their range-estimating software, report says Tesla was dealing with 2,000 cases a week amid a surge in driving-range complaints from frustrated customers, report says Elon Musk reportedly gave the order himself for the displays in Teslas to present overly optimistic estimates of driving range
(DBN)

Video Shows Tesla FSD Running Red Light
(DBN)

Ford CEO says Tesla is having a Model T moment — it's Elon Musk's 'next big test'
(DBN)

A marathon, not sprint: Mercedes-Benz CEO outlines challenges in shift to EVs
(DBN)

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Crypto:

Judge gags alleged crypto fraudster after key witness diaries go public
(DBN)

Who Owns Crypto Assets? Know the Risks
(DBN)

FTX and Genesis Reach Agreement in Ongoing Bankruptcy Dispute
(DBN)

Federal prosecutors drop another charge against FTX co-founder Sam Bankman-Fried Campaign finance charge dropped from case against Sam Bankman-Fried
(DBN)

Missing millionaire crypto influencer found dismembered in suitcase
(DBN)

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Politics:

Republican Confidence in Big Business Remains Scarce
(DBN)

McConnell's health scare stirs new scrutiny of GOP leader's future Mitch McConnell ‘Clearly Had Some Kind of Neurological Event’ at Podium, Concludes CNN’s Sanjay Gupta: ‘He Needs to Get Checked Out’ Back-to-back 'senior moments' from Feinstein and McConnell illustrate the peril of a government by seniority GOP senators express anxieties about Mitch McConnell's health — and what comes next
(DBN)

A confused Dianne Feinstein tried to give a speech in the middle of a Senate hearing vote and was told to 'just say aye' instead
(DBN)

Tim Scott sparks fresh GOP interest as DeSantis stumbles
(DBN)

Florida loses another multi-million dollar event over 'racist' DeSantis policies Disney fights DeSantis effort to dismiss lawsuit over 'Don't Say Gay' opposition
(DBN)

Jason Aldean’s controversial “Small Town” video reportedly edited out Black Lives Matter references
(DBN)

McCarthy unites fractious GOP with impeachment talk Rand Paul warns Republicans against falling into impeachment ‘trap’
(DBN)

House GOP leaders to start recess early after being forced to punt funding bill
(DBN)

Raskin slams ‘preposterous’ idea that Biden drug control strategy should include ‘faith’
(DBN)

Raskin calls on Comer to ‘publicly reprimand’ Greene over explicit Hunter Biden photos
(DBN)

‘Jackasses,’ ‘little s----’: GOP congressman curses out teenage Senate pages
(DBN)

A&M professor investigated for criticizing Dan Patrick? Sounds like cancel culture
(DBN)

Hearing Set for Ken Paxton's Securities Trial
(DBN)

How many trans and intersex people live in the U.S.? Anti-LGBTQ laws will affect millions
(DBN)

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Supply Chains:

Bankrupt Incora tries to wrench shipments from holdout supplier
(DBN)

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Trucking:

Yellow Corp trucking company shares plunge as bankruptcy looms Yellow survival depends on Teamsters, customers amid possible bankruptcy Yellow shops 3PL unit; negotiations with Teamsters yield nothing
(DBN)

Surge Transportation sought buyer prior to filing for bankruptcy
(DBN)

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Coal:

Why The World Just Can’t Kick Coal
(DBN)

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Labor:

Hollywood Studios Quietly Go On Hiring Spree for AI Specialist Jobs
(DBN)

Emmys to be postponed because of writer and actor strikes
(DBN)

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Accounting:

Nonprofit Group Morally Opposed to Diversity Accuses PwC of Being Unlawfully Woke
(DBN)

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Religion:

Belief in Five Spiritual Entities Edges Down to New Lows
(DBN)

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Education:

West Virginia officials vow to work with financially strapped Alderson Broaddus University
(DBN)

Big fine for 'exploitative' college, student debt wiped
(DBN)

How Colleges Plan to Factor In Race Without Asking About Race
(DBN)

How Harvard makes so much money — and why a major funding source could be at risk
(DBN)

DeSantis spars with reporter over Florida’s controversial slavery curriculum Tim Scott rebukes Ron DeSantis over Florida Black history standards on slavery
(DBN)

Texas' Bookban Is So Bad, Booksellers Say It Violates The Constitution
(DBN)

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Movie Theaters:

Cineworld Reveals $250 Million Revolving Credit Facility, Administration Approved by Board, Listing Suspended Cineworld suspends trading on London Stock Exchange as restructuring plans limp on
(DBN)

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Food/Beverage:

Wild Wing Café closes restaurants and declares bankruptcy
(DBN)

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Music:

Utopia Music R&D Divisions Reportedly Enter Bankruptcy As the Troubled Company Delays Paying Salaries: ‘There Have Been Some Hiccups in Internal Processes’
(DBN)

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Apparel:

Fashion Experts Have Failed to Save Tired Clothing Brands, Now They’re Looking Outside For Rescuing
(DBN)

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Pharma:

Ako­rn’s bankruptcy, recalls bring a drug to treat lead poisoning into shortage
(DBN)

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Art:

Company behind immersive Van Gogh exhibit goes bankrupt
(DBN)

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New Bankruptcy Opinions
(2 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (46 new filings today)
(DBN)

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

Chapter 11 Bankruptcy Case Studies
(DBN)

Miscellaneous:

Recent Developments in Bankruptcy Law
(DBN)

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Subchapter V:

Notable Subchapter V Bankruptcy Opinions: June 2023 Edition
(DBN)

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Standing:

Arguments for standing fall flat: US Fifth Circuit clarifies scope of “aggrieved person” appellate standing in bankruptcy cases
(DBN)

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Bankruptcy Rules:

Federal Rule Limits Subpoenas of Remote Live-Video Testimony
(DBN)

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Corporate Governance:

Creditors’ Rights Against Officers and Directors
(DBN)

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Reclamation Claims:

Creditors Catch a Break on Preference Actions and the New Value Defense – Re: Claims for 20-Day Shipments
(DBN)

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IP:

Bankruptcy and Trademarked Inventory: Potential Pitfalls for the Asset-Based Lender
(DBN)

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SCOTUS:

How To Win A Battle But Probably Lose The War At U.S. Supreme Court (Mallory v. Norfolk Southern)
(DBN)

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Sanctions:

Sanctions Imposed on Attorney and Client for 'Bad Faith' Filing in Bankruptcy Court
(DBN)

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Mass Torts:

Upstate New York Catholic diocese announces $100 million settlement for sexual abuse victims Syracuse Catholic Diocese to pay sex abuse survivors $100 million
(DBN)

Attorneys in Albany diocese bankruptcy case seek records on Fidelis sale
(DBN)

Rochester Diocese Claims Fund at $126M as 2 More Insurers Settle, 1 Holds Out
(DBN)

O’Connor paid dearly for criticizing the Catholic church. History proved her right
(DBN)

Drugmaker Mallinckrodt in talks with hedge funds for potential bankruptcy to avoid opioid settlements
(DBN)

Doctor should face trial over Insys opioid kickbacks despite bankruptcy, US says
(DBN)

Georgia-Pacific’s ‘Texas two-step’ pits state AGs against U.S. Chamber
(DBN)

$8.9 billion talc settlement offer at stake in J&J's LTL bankruptcy
(DBN)

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Aviation:

Voyager Aviation Agrees to Sell Assets to Azorra, Enters Chapter 11
(DBN)

US Takes First Step Toward Regulating Commercial Human Spaceflight
(DBN)

He Breezed Through Security With Clear. He Was Using a False Identity.
(DBN)

An intoxicated United Airlines pilot, who turned up for a transatlantic flight 'staggering' and with 'glassy' eyes, was given a 6-month suspended prison sentence, report says French Court Hands American Pilot 6-Month Prison Sentence After Attempting to Fly Drunk to Texas
(DBN)

Go First Insolvency: Lessors Terminated Lease Fearing IBC Consequences, Says NCLT
(DBN)

US court denies Go First emergency arbitration in Pratt & Whitney dispute
(DBN)

Jet Airways: Jalan Kalrock Consortium Seeks Clarity On Ownership
(DBN)

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Newspapers:

Owner of Santa Barbara News-Press filed for bankruptcy. What will happen to properties?
(DBN)

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Retailing:

What’s Next for David’s Bridal After Bankruptcy and Court-approved Sale
(DBN)


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Student Debt:

Democrats introduce bill to eliminate student loan interest for current borrowers
(DBN)

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Climate:

?Report slams pension funds and advisers for false climate assumptions
(DBN)

Heat wave puts over half of U.S. population under heat alerts
(DBN)

‘Era of global boiling has arrived,’ says UN chief as July set to be hottest month on record
(DBN)

World Set for Hottest Ever Month as Climate Change Sears Planet
(DBN)

Scientists declare July world's hottest month and warn future will be worse
(DBN)

Emergency physician says these are the biggest mistakes people can make dealing with heat wave
(DBN)

Vacations as we know it are over
(DBN)

Fearing a surge in heat deaths, Phoenix adds refrigerated containers to store bodies
(DBN)

As the country scorches, Biden calls climate change undeniable
(DBN)

Biden admin plans first-ever heat wave "hazard alert" for workers
(DBN)

Where Wildfires Are Raging in Europe and North Africa
(DBN)

You’re experiencing ‘the hottest temperatures in human history’
(DBN)

Climate change’s next victim: Sports
(DBN)

Midtown Manhattan Is Literally New York’s Hottest Neighborhood
(DBN)

There’s no denying our new climate reality: We must rethink disaster management
(DBN)

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UK:

England and Wales report highest number of company insolvencies since 2009
(DBN)

26% annual jump in people registering for ‘breathing space’ from debts
(DBN)

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EU:

European Central Bank raises rates again as inflation battle drags on
(DBN)

ECB fans talk of September pause after raising rates to 23-year high
(DBN)

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Canada:

'I feel abandoned' — businesses warn of bankruptcy as deadline to pay back COVID loans looms
(DBN)

Never Going to Let You Go: BC’s EMA May Allow Creditors to Seek Recovery from Third Parties for Environmental Remediation Claims
(DBN)

B.C. Supreme Court approves cannabis 'fire sale' as Tantalus Labs goes bankrupt
(DBN)

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China:

Declaring Debtor’s Bankruptcy in Bankruptcy Liquidation Cases
(DBN)

Negative Views of China Rise Over Foreign Policy, Poll Finds Half of Americans polled see China as the biggest threat to the U.S., says Pew
(DBN)

China’s Property Woes Shown by Drop in Total Amount of Mortgages
(DBN)

The US and China are gearing up for war — and America isn't ready
(DBN)

US commerce chief says China export controls will hit companies' revenue
(DBN)

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Russia:

Ukraine shifted to hammering Russian defenses with artillery after losing a lot of Western armor in its early counter-offensives: report
(DBN)

The UK exempted some Russian oligarchs from sanctions, allowing them to pay for private chefs, report says
(DBN)

Putin promises free grain to African allies after sending prices soaring with attacks on key Ukraine export facilities
(DBN)

Treacherous Forest Fight Threatens ‘Hellish’ Putin Comeback Putin claims fighting intensifies in southeastern Ukraine, with Russia inflicting heavy losses
(DBN)

Russia's economic isolation from the West is deepening its China dependency – car imports from the Asian nation shot up 540%
(DBN)

____________

MENA:

Netanyahu says claims that judicial overhaul are ‘the end of Israeli democracy’ are ‘silly’ Ex-Mossad chief: 'Israeli gov't has let in KKK mentality'
(DBN)

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Switzerland:

Swiss company bankruptcies skyrocket
(DBN)

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Australia:

Australia Biggest States Face Budget Strains on Cash Crunch
(DBN)

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Italy:

Trans men enter Miss Italy pageant in droves after trans women are told they can’t compete
(DBN)

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France:

Casino Seals Debt Restructuring Deal With Creditors Casino clinches debt deal led by Czech billionaire Kretinsky
(DBN)

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India:

Banks recovered bad loans worth Rs 10.16 trillion in 9 years: FinMin
(DBN)

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