July 31, 2023

The Daily Bankruptcy News

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Law:

Litigation Funders See Growing Opportunities in Bankruptcy Boom
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This is latest BigLaw firm to require four days per week in office Top 10 Biglaw Firm Announces 4-Day In-Office Attendance Mandate
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July 28, 2023 Bankruptcy Quiz
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Mega Biglaw Firm Faces Tribunal For Violating Anti-Money Laundering Regulations
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The Defenestration Of Affirmative Action By SCOTUS Was Swift. What’s Next For The Legal Profession?
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DNC Work Favors Big Law After Split With Longtime Adviser Elias
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Cravath, Facing Fierce Competition, Builds Out DC Office With Top Government Hires
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Burford-Backed Investors, Argentina Stalemate on Payout at Trial
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Associates At This Law Firm Just Unionized! Will Associates At Other Firms Follow Along?
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Defunct Legal Vendors Can Create Lots Of Problems
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Famous forensic scientist says he had ‘no motive nor reason’ to fabricate evidence
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Don't Trust Just Verify
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Complicated timing: Two of Trump’s criminal trials could be decided by GOP convention
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Ex-lawyer: Evidence against him 'overwhelming' ‘They have him dead to rights’: Conway reacts to Trump charges
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Trump legal fees eclipse second quarter fundraising, reports say Trump’s PAC to Report Legal Expenses Exceeding $40 Million
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Trump Vows To Continue Campaign If Sentenced
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Trump's Truth Social rant about "productive meeting" with Jack Smith's team quickly falls apart
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Donald Trump faces new charges in the Mar-a-Lago classified documents case. Here’s what to know Trump Iran doc incident 'so much worse' with newly filed charges: legal expert Trump says he handed over security tapes, denies wrongdoing after latest charges "These were my tapes": Trump pushes back on new charges in classified docs case How a low-profile Mar-a-Lago employee got caught up in Trump’s legal problems Takeaways from the new charges against Trump, aide and Mar-a-Lago worker Stupidest Watergate: The New Florida Indictment Notable details from the new Trump indictment in Mar-a-Lago classified documents case Your 5 biggest questions about Trump’s latest indictment, answered Newly indicted Trump employee doesn't have a Florida lawyer ahead of his first court date Minor Characters Emerge to Play Key Roles in Trump Documents Case Mar-a-Lago property manager Carlos De Oliveira was 'loyal and hard-working' Portuguese immigrant who 'got trapped', family and friends say
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As Trump faces new documents charges, prosecutors seek to keep defense discussions at secure place
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Revised Trump indictment raises new questions about lawyer conflicts of interest
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Judge dismisses Trump's CNN defamation case over 'Big Lie' and 'Hitler-like' comments
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Trump Fake Electors Feel Duped by His People
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DeSantis Takes Brutal Dig at Trump’s Age When Asked If He’d Pardon Him
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Jan. 6 rioter who stole radio in attack of D.C. officer Fanone sentenced to 4 years
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FBI Worried About '24 Election Disinformation
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Why Biden's team soured on Dems' election lawyer
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Jeffrey Epstein withdrew up to $80,000 in cash 'several times a month' while he paid girls for 'massages,' court filings say How Jeffrey Epstein peddled influence to JPMorgan
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Worker told organizer 'Someone’s going to end up dead' before Astroworld crush, police report says
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Seattle man pleads guilty to vehicular homicide in death of Black Lives Matter protester
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Video shows moment bumbling Ohio burglar falls from bank roof into trash can — just as police arrive
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Anchorage mayor proposes sending homeless to LA
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Father lunges at man who dodged death penalty for murdering daughter
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Man charged for murder of girl who was found dead in orange grove 30 years ago
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Man barricaded the body of the roommate he killed in a closet for months so he’d ‘be alerted’ if she ‘rose from the dead’: Cops
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Father shoots son in the heart during 'big argument' over 25 cents: Police
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Father, 14-year-old son charged after teen allegedly uses dad’s gun to kill girl in New Mexico
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The Secret History of Gun Rights: How Lawmakers Armed the N.R.A.
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Clarence Thomas Created a Confusing New Rule That’s Gutting Gun Laws
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Idaho mom Lori Vallow to be sentenced in deaths of her 2 children and romantic rival
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Six migrant workers struck by SUV in intentional act, N.C. authorities say
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Cops still have questions after charging Carlee Russell with faking her disappearance
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Black lawmakers blast Alabama's new congressional map
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Judges:

Justice Alito says Congress lacks the power to impose ethics code on Supreme Court Alito: Congress is Powerless Against Us Samuel Alito, the Supreme Court’s Plain-Spoken Defender
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Supreme Court temporarily blocks 'ghost gun' ruling by federal judge
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Supreme Court Justice Power Index At The End Of The 2022 Term
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Wall Street:

Stock futures rise slightly as the market is set to end July with solid gains
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Tupperware might just be the latest meme stock after its shares tripled in a week
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Stocks Are Doing So Well That It May Be Time to Start Worrying
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Morgan Stanley Strategists Say US Stocks Are in a 2019-Like Rally
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Layoffs:

Yellow trucking could shutter within days leaving trucking firm's 30,000 workers out of a job
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4 careers where workers will have to change jobs by 2030 due to AI and shifts in how we shop, according to a McKinsey study
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Workers at risk of AI radically changing their jobs aren't too worried about it
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UBS Credit Suisse merger: UBS to fire hundreds of Credit Suisse bankers
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Robots can now harvest ripe strawberries
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Travel:

More Americans are taking vacation than pre-pandemic
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Las Vegas June 2023: Visitor Traffic Up 1.5% YoY; Convention Traffic Down 2.9% YoY
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Americans Say Goodbye to Permissionless Travel
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Tech:

You may hate what Twitter — sorry, X — has become. But it’s just what the company needs right now, brand experts say.
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AI's scariest mystery
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How “windfall profits” from AI companies could fund a universal basic income
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Autos:

Dispute with Karma gets in the way of Lordstown bankruptcy
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Here's what thousands of Tesla owners really think about their Model 3
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Trucking:

After $700 Million U.S. Bailout, Trucking Firm Is Shutting Down Yellow is shutting down after teetering on the brink of bankruptcy for years US trucking company Yellow shuts down operations The Yellow trucking company meltdown, explained Orange-themed trucking giant Yellow is on the brink of bankruptcy just a few years after taking a $700 million government bailout
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Labor:

Spiderman, Ghostbusters now caught in the web of Hollywood strike as Sony to postpone releases
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Newspapers:

Santa Barbara News-Press bankruptcy brings uneasy end to an owner's bitter tenure
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Economy:

New data is latest evidence America's inflation problem is receding
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Personal Income increased 0.3% in June; Spending increased 0.5%
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Kashkari Calls Inflation Outlook ‘Positive,’ Expects Job Losses
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The great Rolex recession is here: How the Fed crushed the luxury watch boom
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3 reasons the US might actually fix inflation without a recession
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'People give up on recession just as it arrives': Don't count out an economic downturn just yet
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Vanguard’s Economists Aren’t Buying Talk of a Soft Landing
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US Economy Set to Show Resilience With Jobs Data
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The ‘richcession’ isn’t happening. The ultra-wealthy have never been richer and they’re still spending like crazy.
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Why the U.S. economy is so immune to rate hikes
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After strong GDP surprise, analysts grapple with recession forecasts
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Members of Congress break for August with no clear path to avoiding a shutdown this fall
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Infrastructure, green energy spending powering economy
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The meaning of "the weekend" has changed and it's boosting the economy
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Wall Street Braces for the Great Loan Tightening
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US Companies Caught in Diversity Crossfire Are Frozen by Uncertainty
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The iconic American hard hat job that has the highest level of open positions ever recorded
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These Canadian companies switched to a 4-day work week. Here's why
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US Debt Clock
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World Debt Clock
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How People Really Live
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Real Estate:

Inflation Adjusted House Prices 4.4% Below Peak; Price-to-rent index is 7.9% below recent peak
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Why the US should be more excited about tiny homes
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25% of US Homeowners Want to Move
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Gas Tycoon's Aspen Ranch Hits Bankruptcy as Lender Feud Rages Aspen Valley Ranch files for bankruptcy
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Oil/Gas:

Natural Gas Pioneer Puts Investment Vehicle Into Bankruptcy to Protect Ranch, Other Assets
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UK Pledges Hundreds of New North Sea Oil and Gas Licenses in Energy Push
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Saudi Arabia’s Economy Slows as Oil Prices and Production Drop
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As Ford loses billions on EVs, the company embraces hybrids
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US Wants to Raise CAFE Standards to 58 MPG
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25 Members of Congress Drive Electric Cars
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Politics:

States’ rights make a comeback as Republicans rush to defy Washington
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America's aging leaders on display
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McConnell plans to serve out term as GOP leader after freeze-up Who Will Succeed Mitch McConnell? 3 Likely Candidates for Minority Leader Trump says McConnell should be replaced as GOP leader after freeze-up After McConnell's and Feinstein's episodes, should age limits be on the table?
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Biden to run against MAGA in 2024, not just Trump
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Biden campaign co-chair says it ‘may be worth looking at’ disclosures for president's family members
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Young conservatives buy into 'identity politics,' a shift from Republican focus on free markets, small government
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‘You Are a P----’: McCarthy and Swalwell Get in House Floor Feud
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GOP lawmaker 'screamed' curse words inches from Senate pages' faces and 'shooed' them, source says
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What does Ron DeSantis have riding on the debates? Maybe everything.
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Black Republicans rebuke Ron DeSantis over Florida history standards about slavery Most of Florida work group did not agree with controversial parts of state's new standards for Black history, members say
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A Four-Way Race? The 2024 Presidential Contest is Anything But Settled.
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Some top GOP donors are having trouble choosing a 2024 candidate — so they're picking two
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GOP rivals prepare to take on "happy warrior" Tim Scott
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Only 4 Cabinet Insiders Want Trump Reelected
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President Biden Speaks Out on Hunter’s Daughter, 4, with Ark. Woman: ‘Jill and I Only Want What’s Best’
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RFK Jr. Invokes Father’s Assassination After Being Denied Secret Service Protection
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Trump's rivals let GOP voters believe he's a winner — and it's coming back to bite them
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Trump shows why opponents find him hard to beat – despite his criminal peril
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'Trump is running to stay out of prison': GOP candidate booed for dig at former president
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Trump and his top 2024 primary rivals mostly ignore the case against him during key Iowa GOP event
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Trump Casts Himself as Best Bet Against Biden at Iowa Dinner
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DeSantis Blasts Biden at Iowa Dinner of 2024 Hopefuls
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Retired General: Tuberville is a Coward
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Hotels:

Hotels: Occupancy Rate Up 0.5% Year-over-year
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Fraud:

Billionaire Joe Lewis has been arrested for alleged insider trading, with prosecutors saying he helped personal pilots, assistants, and romantic partners make 'millions'
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Former real estate investor sentenced for international fraud
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Education:

Cardona: Ending legacy admissions won't solve affirmative action fallout Legacy admissions are pure capitalism — and they might be on their way out
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The Shady Backstory of Florida's New Slavery Curriculum
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Florida Universities Hit by Brain Drain
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'What the hell?': Anger as Texas libraries close to make way for child discipline centers
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Judge blocks Arkansas law allowing librarians to be criminally charged over ‘harmful’ materials
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Banking:

Q2 2023 Update: Unofficial Problem Bank list Increased to 47 Institutions
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Maritime:

A Record $90 Billion in Ship Orders Loom Over Boom-Bust Industry
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Music:

Utopia CEO Responds as Bankruptcy Proceedings Emerge — “All Outstanding Tax Debts Are Clear”
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Healthcare:

California Nonprofit Hospitals Turn to Bankruptcy for Leverage Against State
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July 28th COVID Update: New Pandemic Lows for Deaths
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New Covid vaccines are coming to the U.S. this fall, but uptake may be low — Here’s why
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New Jersey woman posed as a doctor for more than a year and wrote prescriptions, prosecutors say
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The potential downsides of new blockbuster obesity drugs
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In broiling cities like New Orleans, the health system faces off against heat stroke
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New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (24 new filings today)
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Recent Ch. 11 Adversary Proceeding Filings (11 new filings today)
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Chapter 11 Bankruptcy Case Studies
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Mass Torts:

Federal judge rejects Johnson & Johnson's second talc bankruptcy filing - no financial distress J&J Cancer Lawsuit Strategy Tossed By Bankruptcy Judge J&J Effort to Resolve Talc Lawsuits in Bankruptcy Fails a Second Time The Official Committee of Talc Claimants Applauds Decision to Dismiss LTL Management Second Bankruptcy Attempt Dismissal of LTL Bankruptcy Signals Latest Failure by J&J to Evade Responsibility for Decades of Deceit in Talc-Asbestos Litigation
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U.S. tells Supreme Court that Purdue bankruptcy settlement for opioid lawsuits abuses law
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DOJ Asks Supreme Court to Delay Purdue Pharma Bankruptcy Settlement
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Disciplinary Counsel Proper Party In Appeal By Alex Jones Attorney
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States want changes to $12.5B PFAS settlement with 3M
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Valuation:

Secured Lender Duffs Golf Course Valuation Hearing
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Aviation:

American Airlines flight attendant Elizabeth Braley says she was chased down interstate at 80mph by can-throwing female driver infuriated by her employer
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Family accuses Delta of negligence after drunken passenger allegedly groped mom and her teen daughter on a 9-hour flight
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Thousands of passengers got stuck on planes for hours at LaGuardia Airport as 60 aircraft waited to take off
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Allegiant flight attendant injured when 'evasive action' was taken to avoid collision in the air, FAA says
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Jet, set and go? DGCA renews airport operator certificate of Jet Airways
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Go First approaches NCLT to refund for canceled tickets Go First flights canceled till 31 July
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Aviation Ministry, MCA take different flight paths on IBC moratorium
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Food/Beverage:

Former NFL star’s burger chain files for Ch. 11 bankruptcy protection
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Celebs:

Todd and Julie Chrisley’s prison conditions are a ‘nightmare,’ say kids Jailed fraudster reality star Julie Chrisley moans about being menaced by poisonous snake behind bars - while accomplice husband Todd says creep took photo of him while he slept
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Climate:

'I Don't Want to Be Here Anymore.' The Economic Cost of Houston's Heat.
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Phoenix’s record heat is killing off cactuses
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Extreme weather may aid global climate push
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Phoenix extends record heat run as Washington wildfire surges into Canada
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How extreme heat hits America's hungry
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Local officials want extreme heat to be declared a federal disaster
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Cities' heat solutions are mainly Band-Aids
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Florida ocean temperatures surge to 100 degrees as mass coral bleaching event is found in some reefs
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Lost samples from a secret army base reveal that Greenland's ice vanished 416,000 years ago. That means it could melt way faster than expected.
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Wildfire Risk Increases for Spain as Heat Wave Moves to Iberia
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Europe’s Most Important Trade Route Is at Risk Due to Climate Change
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IPCC: Don't Overestimate 1.5 Degrees C Threat
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US Forests Will Stop Absorbing Carbon by 2070
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UK:

26% annual jump in people registering for ‘breathing space’ from debts
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Britain’s Youngest Workers Face a Bleak Economic Future
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UK’s War on Inflation Is Hitting Families and Renters Hardest
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EU:

ECB Could Hike Again Even After a Pause, Lagarde Tells Le Figaro
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Euro zone economy shows resilience as second-quarter GDP beats expectation, inflation slips
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Russia:

Putin searches for more friends at Africa summit but low turnout dampens bid for influence
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Explosion rocks Russian city close to Ukraine border
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Kim Jong Un Decorates Walls With Huge Portraits of Putin
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Ukraine shows off a sea drone that can wipe out Russian ships and is 'faster than anything in the Black Sea'
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Russia's bitcoin-mining industry is booming through war and sanctions
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Moscow Mayor Says Ukrainian Drones Attacked Two Office Buildings Zelensky says war is "returning" to Russia after Moscow drone attack
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Kremlin Threatens Ukraine with Nukes
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Poland Says Wagner Mercenaries May Try to Cross From Belarus
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The GOP's Ukraine evolution
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MENA:

Unhappy With Right-Wing Leaders, Some Israelis Hatch Escape Plans Judiciary fight chills Israel's startup-land
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Taliban use stun guns, fire hoses and gunfire on Afghan women protesting beauty salon ban
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44 Dead in Suicide Bomber Attack in Pakistan
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Japan:

Japan raises alarm over China’s military, Russia ties and Taiwan tensions in new defense paper
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China:

Contraction in China factory activity extends into a fourth month
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Everything China Is Doing to Juice Its Flagging Economy
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Why China’s Miracle Growth Story May Be Coming to an End
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China’s Manufacturing Keeps Shrinking, Weighing on Recovery
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China Consumer Spending Slows, Reining In Growth, Survey Shows
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China's Great Leap Forward is Over
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Young Chinese opt out of the rat race and pressures at home to pursue global nomad lifestyle
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Germany:

Germany’s Economic Malaise Evokes ‘Sick Man of Europe’ Era
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Italy:

Italy’s Economy Unexpectedly Shrinks as Domestic Demand Weakens
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India:

Nearly 96,000 companies have voluntarily wound up in the past five years
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SBI invites expression of interest for insolvency resolution professionals
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France:

Casino clinches debt deal led by Czech billionaire Kretinsky
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