June 21, 2023

The Daily Bankruptcy News

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Law:

Savills Law Firm Return-to-Office Survey Results
(DBN)

UK Law Firms Fight US Invasion by Merging, Raiding Rivals
(DBN)

Companies’ legal spend has risen nearly 30%, survey finds
(DBN)

How legal professionals should really use generative AI
(DBN)

Judicial Notice (06.17.23): Will The Robots Take Our Jobs?
(DBN)

In-house lawyers enjoy their work, especially when they’re learning
(DBN)

Data reveals law is most searched for career
(DBN)

Morris Nichols’ Bankruptcy & Restructuring Group Welcomes Scott Jones
(DBN)

Trump Trial Date Set -- Days Before First GOP Debate Donald Trump's federal trial to take place in Fort Pierce federal courthouse Trump is offering talking points, not defenses Trump on why he didn't return classified documents: "I was very busy" Brit Hume: Trump defense of taking documents ‘incoherent’ Trump ‘Admitted to Obstruction of Justice’ on Fox News, Argues Chris Christie Bill Barr Savages ‘Incorrigible’ Trump For Victim Complex and Bringing ‘Calamity on Himself and the Country’ Trump defends keeping classified docs in contentious exchange with Fox’s Baier Christie: Maybe Trump should’ve gone through boxes with classified documents instead of golfing
(DBN)

Trump hush-money prosecutors say the Access Hollywood tape will feature ‘prominently’ in their case Trump shouldn’t get to choose judge who presides over Stormy Daniels hush money case, Manhattan DA says
(DBN)

Infowars Host Owen Shroyer Set To Plead Guilty In Jan. 6 Capitol Riot Case
(DBN)

Inside Moms for Liberty’s Close Relationship With the Proud Boys
(DBN)

Staley Sought Business, Family Advice From Epstein, Emails Show Jeffrey Epstein offered to help former JPMorgan banker get his daughter into Columbia, report says Dimon may have ordered JPMorgan's review of Epstein ties, Virgin Islands says Epstein Connected JPMorgan Exec to Netanyahu, Prince Andrew
(DBN)

Hunter Biden to plead guilty to federal tax crimes, take deal on gun charge Hunter Biden will plead guilty in a deal that likely avoids time behind bars in a tax and gun case Hunter Biden charged with gun felony and tax misdemeanors House Oversight chair vows to keep investigating Hunter Biden despite ‘sweetheart plea deal’ Trump compares Hunter Biden charges to ‘traffic ticket’ DOJ criminal probe into Hunter Biden ‘resolved,’ lawyer says White House: Biden, first lady support son Hunter after federal charges revealed McCarthy doubles down on Biden family probes after Hunter guilty plea deal The Hunter Biden story is far from over Bash calls reaction from Hunter Biden legal team 'striking' Hunter Biden attorney pushes back on GOP howls What to know about Hunter Biden's legal troubles Hunter Biden, baby mama settle child support dispute with first son's payments slashed by more than 75% Hunter Biden's jail-free plea deal isn't the end of his legal troubles Hunter Biden's Rorschach test
(DBN)

Meadows ally sentenced to probation for illegal campaign contribution
(DBN)

Impeached Texas Attorney General Partnered With Troubled Businessman to Push Opioid Program
(DBN)

Supreme Court won’t hear Christian college’s challenge to Biden ban on gender identity housing discrimination
(DBN)

Support for legal abortion is widespread in many countries, especially in Europe
(DBN)

Most Americans Favor Availability of Abortion Pill
(DBN)

U.S. Supreme Court revives South Carolina Planned Parenthood defunding case
(DBN)

Dallas residents must soon report some offenses online to free up officers for more serious crimes
(DBN)

Lawyer for Marvel's Jonathan Majors blames NYPD 'racism' for his domestic violence arrest
(DBN)

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Judges:

BK OR: Passing of the Honorable Randall L. Dunn
(DBN)

Justice Samuel Alito Took Luxury Fishing Vacation With GOP Billionaire Who Later Had Cases Before the Court Justice Samuel Alito: ProPublica Misleads Its Readers - WSJ
(DBN)

An Aggressive Supreme Court Reshapes the US as Its Standing Erodes
(DBN)

SCOTUS Judges Need to Learn Real History
(DBN)

Senate confirms lawyer who represented Mississippi abortion clinic at Supreme Court in Dobbs case for federal judgeship
(DBN)

Ron used secretive panel to flip state's Supreme Court
(DBN)

On Judging And The Rule Of Law: An Interview With Justice Rolando Acosta
(DBN)

What happened to the 6-3 Supreme Court? The next two weeks will tell us.
(DBN)

The Worst Trump Judge In America
(DBN)

The Supreme Court is making religion an all-purpose excuse for ignoring the law
(DBN)

‘Robo judges’ could make legal rulings
(DBN)

Centuries-long wait over as first woman is appointed Lord Chief Justice of England and Wales
(DBN)

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Wall Street:

Stock futures are slightly lower as market rally falters
(DBN)

US stocks fall on fears over further interest rate rises
(DBN)

Goldman Says IPO Bust Looks Like It’s Ready to Boom Once Again
(DBN)

Slumping growth could soon kill the stock-market rally, Morgan Stanley's top strategist says
(DBN)

Ex-Goldman partner Adam Dell reportedly paid multimillion-dollar settlement after sending a sexually explicit video to a coworker
(DBN)

Investors' only hope is AI - because inflation will stay sticky and the Fed won't cut rates until next year, Deutsche Bank CIO says
(DBN)

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Layoffs:

Voice Actors Threatened by AI-Generated Narrators
(DBN)

Perella Weinberg’s cuts show it’s an employer’s market again
(DBN)

Singapore's Grab cuts 1,000 jobs to stay competitive
(DBN)

Citi CFO says tech initiatives will drive 5,000 job cuts this year
(DBN)

Amid bankruptcy filing, Surgalign continues layoffs, prepares to auction off assets
(DBN)

Olx Group cuts 800 jobs as it shuts down some markets
(DBN)

Singapore's Grab informs staff of 1,000 layoffs
(DBN)

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Banking:

Bank Mergers Face Fresh Antitrust Heat at US Justice Department
(DBN)

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Climate:

53% of parents say climate change affects their decision to have more kids
(DBN)

Himalayan glaciers melting faster than ever, endangering critical water source, scientists warn
(DBN)

Survey finds just 1 US utility has 'detailed' plan for reaching net-zero by 2050
(DBN)

____________

Fashion:

Inside the Fashion World’s Dark Underbelly of Sexual and Financial Exploitation: ‘Modeling Agencies Are Like Pimps For Rich People’
(DBN)

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Crypto:

FTX bankruptcy will be ‘very expensive’ but for a reason: Auditor FTX bankruptcy ‘on track to be very expensive’ as fees top $200mn FTX bankruptcy costs are way too expensive – Why? FTX Shells Out $121.8M on Legal and Consulting Fees in Q1 with Sullivan and Cromwell $37.6M and Alvarez & Marsal $37M Topping the List
(DBN)

Crypto hack alarms ramp up as authorities crack down after $3.7 billion stolen
(DBN)

Crypto lender Vauld’s creditors to receive payback soon, firm owes over $400 million
(DBN)

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Tech:

Biden meets with AI experts in effort to manage its risks
(DBN)

20% of professionals think ChatGPT should be banned at work
(DBN)

Europe, US urged to investigate the type of AI that powers systems like ChatGPT
(DBN)

‘Tsunami’ of state AI regulation coming
(DBN)

Artificial Intelligence Already Being Used In Transactional Drafting: An Interview With The CEO Of Spellbook
(DBN)

Apple Watch Saves Woman's Life After Alert Leads To Discovery Of Blood Clot In Lungs
(DBN)

Apple's iOS 17 Will Diagnose Your Car's Warning Lights
(DBN)

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Student Debt:

It’s official: Student loan payments will restart in October, Education Department says
(DBN)

Student Loan Forgiveness: Biden Administration Makes It Easier To Have Debt Discharged Through Bankruptcy
(DBN)

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History:

The Story We’ve Been Told About Juneteenth Is Wrong
(DBN)

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Fitness:

F45 Training Holdings: Bankruptcy Might Be In The Cards - Sell
(DBN)

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Healthcare:

Troubled imaging AI company files for chapter 11 bankruptcy
(DBN)

Bankruptcy Judge Gives New Owners Of Mexico And Fulton Hospitals More Time To Reorganize Business
(DBN)

Surgalign Enters Into Definitive Agreement to Sell Global Hardware and Biologics Business Through a Structured Sale Process Under Chapter 11 of the U.S. Bankruptcy Code
(DBN)

Arkansas' ban on gender-affirming care for minors overturned by judge
(DBN)

'I nearly died': Texas abortion case reveals new reality
(DBN)

OB/GYN training programs try to adjust to post-Dobbs reality
(DBN)

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Economy:

‘Greedflation’ is the new inflation as corporate profits balloon
(DBN)

A massive debt wall is about to hit Corporate America, and equity values will be 'incinerated,' Chamath Palihapitiya says
(DBN)

Supply chain hangover still feeding inflation: SF Fed paper
(DBN)

Tracking wage growth
(DBN)

A collapse in used car prices could help drive inflation below the Fed’s 2% target rate
(DBN)

More workers expecting to change jobs than last year: survey
(DBN)

Oldest employed Americans have left the workforce never to return
(DBN)

US core inflation is still unacceptably high for the Fed - and that means more pain for the economy, strategist Jim Bianco says
(DBN)

Here’s how much money it takes to be considered ‘financially comfortable’ in 13 major U.S. cities
(DBN)

Rate Cut Bets Build in Bond Markets From Australia to Sweden
(DBN)

Return to Office Enters the Desperation Phase
(DBN)

How small tech companies are using remote work to compete with the big guys
(DBN)

The new reason U.S. workers don’t want to come back to the office
(DBN)

Your boss has a plan to get you back to the office
(DBN)

A Job With a Fair Salary? What Pay Transparency Laws Are Revealing.
(DBN)

With Pandemic Aid Ending, Vermont’s Homeless Are Forced From Hotels
(DBN)

Credit Card Landscape Report
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

May Housing Starts: Record Number of Multi-Family Housing Units Under Construction US Housing Starts Surge Most Since 2016, Exceed All Estimates New US home construction surges by most in 3 decades in May
(DBN)

Lumber prices jump after US housing starts unexpectedly soar more than 20% in May
(DBN)

Homebuyers rejoice: There are more homes coming soon to a neighborhood near you
(DBN)

MBA Survey: "Share of Mortgage Loans in Forbearance Decreases to 0.49% in May"
(DBN)

Housing market inventory keeps declining and that's bad news for homebuyers
(DBN)

The housing market is facing an inventory shortage, and the work-from-home boom makes it worse
(DBN)

The housing market isn't recovering and will send home sales to a new low as mortgage rates stay elevated, Pantheon Macroeconomics says
(DBN)

America's housing shortage is keeping home prices high
(DBN)

Californians often struggle with health, trauma, poverty before losing homes: research
(DBN)

Office REIT financial performance dips amid declining occupancy
(DBN)

Average short interest in US REITs up 11 basis points in May
(DBN)

Senators, Regulator Call for More Scrutiny of “We Buy Ugly Houses” Company
(DBN)

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Municipalities:

PREPA bondholders complain about changing 'goalposts'
(DBN)

Wisconsin governor signs bipartisan bill designed to prevent Milwaukee bankruptcy
(DBN)

How rising water costs could drive this Michigan city to bankruptcy
(DBN)

Wall Street Sours on America’s Downtowns - WSJ
(DBN)

2023’s Best- & Worst-Run Cities in America
(DBN)

New default for a twice-bankrupt Illinois senior living facility
(DBN)

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Oil/Gas:

Oil drifts lower on concern Chinese stimulus will fall short
(DBN)

China’s CNPC Lowers Forecast for Nation’s Oil Demand This Year
(DBN)

Gas Prices Over Time
(DBN)

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Politics:

Christie floats Social Security cuts, slams Trump over ‘crazy stuff’ in docs case Chris Christie lures big-money donors as he takes on Trump — but ally Steve Cohen sits out for now
(DBN)

House GOP messaging bills test members' patience
(DBN)

House to vote on Biden impeachment and Schiff censure
(DBN)

Trump pledging to unilaterally cut government spending if reelected: report
(DBN)

Trump, Fox’s Bret Baier spar over former president’s 2020 election claims
(DBN)

Bill Barr: Republicans need to ‘come to grips’ with ‘hard truths’ about Trump
(DBN)

Trump rips Quinnipiac, Fox News over poll CNN Poll: Trump’s GOP support appears to soften post-indictment, but he holds lead in primary field
(DBN)

Trump controversies drown out GOP rivals
(DBN)

Dems push to smoke out George Santos' bail co-signers
(DBN)

Transgender people facing ‘existential fear’ in Florida look to California for acceptance
(DBN)

A Year After Dobbs, Republicans Push Into Risky Territory on Abortion What Republicans Say About Their Risky Balancing Act on Abortion Senate Democrats plan abortion-rights push to mark one year without Roe v. Wade
(DBN)

Global number of displaced children reaches record high
(DBN)

Democrats fed up with Tuberville want to change Senate rules Biden calls Tuberville hold on military nominations ‘bizarre’
(DBN)

Don’t hide the truth about who made violent threats against Target
(DBN)

Fewer in U.S. Say Same-Sex Relations Morally Acceptable
(DBN)

Marianne Williamson loses second campaign manager in two months
(DBN)

State lawmakers and officials receive letters containing white powder
(DBN)

Arizona’s defunct border wall leaves trail of runaway costs and questions about state’s oversight
(DBN)

____________

Credit Reporting:

Supreme Court to decide if US can be sued over incorrect credit report
(DBN)

____________

Golf:

River Island Decides To Close, Considering Bankruptcy
(DBN)

____________

Media:

GoDigital wants to buy Vice
(DBN)

____________

Utilities:

The U.S. power grid isn't ready for climate change
(DBN)

Texas Electric Grid is Strained
(DBN)

____________

Trucking:

Teamsters balk at new concessions as Nashville-based Yellow Corp. tries to avoid bankruptcy Teamsters balk at Yellow’s work rules, purchased transportation proposals Teamsters not ‘bailing out’ Yellow again, unmoved by carrier’s finances
(DBN)

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Agribusiness:

Bankruptcy Court Rules Horse Breeding is Not Farming Under Chapter 12
(DBN)

Bipartisan Push to Stop China's Farmland Grab
(DBN)

____________

Water:

Texas farmers are worried one of the state’s most precious water resources is running dry
(DBN)

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Private Equity:

Going Bankrupt in the Name of Efficiency
(DBN)

____________

Corporate Governance:

Ninth Circuit En Banc Ruling Upholds Forum Selection Clause
(DBN)

____________

Autos:

More Americans Are Getting Auto Loans That Exceed the Worth of Their Cars Negative Equity Surges: More Consumers Find Themselves In Underwater Auto Loans
(DBN)

Carlos Ghosn sues Nissan, others for $1B over his imprisonment in Japan
(DBN)

____________

Education:

Can America’s Students Recover What They Lost During the Pandemic?
(DBN)

Middle schoolers' reading and math scores plummet
(DBN)

____________

 


New Bankruptcy Opinions
(3 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (14 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (15 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

Potential Bankruptcies Coming This Fall, Warns Chamath Palihapitiya
(DBN)

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D&O:

Hard on Soft Caps – Bankruptcy Court Declines to Limit Access to D&O Insurance
(DBN)

____________

Mass Torts:

Silencing Litigation Through Bankruptcy
(DBN)

New Orleans archdiocese concealed serial child molester New Orleans priest confessed to molesting multiple teenagers and was protected by the archdiocese, unsealed documents show Priest admits to sex abuse in sealed deposition, source says A New Orleans priest confessed to abusing children. He returned to work and was never charged Church leaders never contacted victim New Orleans priest confessed to abusing
(DBN)

Oakland Catholic Diocese files motion to keep names of accused child sex abusers secret
(DBN)

Georgia-Pacific Wins Appeal to Maintain Chapter 11 Protection From Lawsuits - WSJ Georgia-Pacific may maintain bankruptcy pause on lawsuits, court rules
(DBN)

____________

Discharge:

Applying Tax Refunds To Next Year’s Taxes Results In Denial Of Discharge (Miller v. Wylie)
(DBN)

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Third Party Releases:

Second Circuit’s Purdue Pharma Ruling: Third Party Releases Remain a Question of Geography
(DBN)

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UST:

Gerard R. Vetter Appointed Acting U.S. Trustee for Maryland, South Carolina, Virginia, West Virginia, and the District of Columbia
(DBN)

____________

Aviation:

Short sellers boost bets against airlines in May as travel season heats up
(DBN)

GoFirst flights grounded for almost two months after it filed insolvency
(DBN)

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Pharma:

After Filing for Bankruptcy, Trevose Drug Manufacturer Eliminates $600M in Debt
(DBN)

____________

Retailing:

Bed Bath & Beyond schedules separate auction for Buy Buy Baby assets
(DBN)

Bed Bath & Beyond Employee Calls Police Over Black Couple's Shopping
(DBN)

US retail sales register surprise gain in May; 2 new bankruptcies
(DBN)

One-Percenters Keep Shopping at the Dollar Store - WSJ
(DBN)

San Francisco supermarket installs metal exit gates to stop shoplifters
(DBN)

____________

Food/Beverage:

Restructuring gives control of Checkers to its lenders
(DBN)

‘We’re Only Just Getting Started’: VFC Set To Save Meatless Farm Amid Bankruptcy Fears
(DBN)

Fixing Burger King’s Royal Mess
(DBN)

____________

Television:

Utah Jazz Is Latest Sports Team to Dump Cable TV Utah Jazz will air games free, sell streaming packages to fans next season
(DBN)

Nationals, Orioles reach agreement on past MASN payments
(DBN)

____________

Hedge Funds:

A war between 2 billionaire hedge-fund founders spilled out into the open in an alarming filing
(DBN)

____________

Sovereigns:

Infant mortality rises when sovereign debt defaults drag on, study says
(DBN)

Zambia Kwacha Jumps Most in Seven Years on Debt Revamp Optimism IMF sees Zambia agreement with official creditors 'within a few days'
(DBN)

Common Framework, familiar problems: hopes of debt breakthrough fade
(DBN)

Ghana aims to exempt Afrexim loans from debt restructuring
(DBN)

____________

UK:

Woking's austerity era begins as staff and service cuts coming to bankrupt council
(DBN)

Debenhams’ unsecured creditors left £1.3bn out of pocket
(DBN)

Rent: 'We've got £1,750 a month and can't find anywhere'
(DBN)

UK inflation exceeds expectations in May, piling pressure on the government and Bank of England
(DBN)

Bank of England likely to raise interest rates to 5% after inflation shock
(DBN)

UK net debt hits highest level in more than 60 years, topping 100% of GDP
(DBN)

____________

EU:

Estonia becomes first central European country to allow same-sex marriage
(DBN)

Italian prosecutor demands cancellation of birth certificates for lesbian couples
(DBN)

E.U. Takes Aim at China in Proposed Economic Strategy
(DBN)

ECB’s Muller Warns Wage Increases Could Delay Slowdown in Core Inflation
(DBN)

____________

Canada:

Getting Closure: Alberta Court Rejects Attempt to Hold Purchaser Liable for a Seller’s Post-Closing Royalty Arrears
(DBN)

____________

China:

China Cuts Borrowing Rates Again in Bid to Juice Recovery - WSJ
(DBN)

China moves to shut a lifeline for cash-strapped local governments
(DBN)

Beijing Plans a New Training Facility in Cuba, Raising Prospect of Chinese Troops on America’s Doorstep - WSJ
(DBN)

‘Ridiculously absurd’: China responds after Biden labels Xi a dictator
(DBN)

Blinken Visit Reveals Chasm in How U.S. and China Perceive Rivalry
(DBN)

‘Hell of a job’: Biden’s reaction and 5 other takeaways from Blinken’s trip to China
(DBN)

____________

Thailand:

Troubles Mount for Thai Firm Hit by Accounting Scam, Default
(DBN)

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Russia:

China is now importing more Russian oil than ever before - and Europe has almost entirely stopped buying crude from Moscow
(DBN)

Ukraine shoots down 32 of 35 Russian-launched exploding drones
(DBN)

Ukraine wants commitment on NATO membership bid
(DBN)

The U.K. moves to use frozen Russian assets to help Ukraine rebuild EU Sees Legal Hurdles to Seizing Russian Assets to Help Ukraine
(DBN)

EU to unveil 50bln euro aid package for Ukraine
(DBN)

Biden warns the threat of Putin using tactical nuclear weapons is ‘real’
(DBN)

‘We do not want only a ceasefire,’ EU chief calls for lasting peace in Ukraine
(DBN)

Britain will not drop sanctions until Russia pays to rebuild Ukraine
(DBN)

Russia's economy will shrink again this year as Putin's war on Ukraine worsens inflation and labor shortages, ratings agency says
(DBN)

'No sane investor' could be fooled by Putin's charade of optimism for Russia's economy, researcher says
(DBN)

____________

Japan:

Japan outrage as child sterilizations revealed
(DBN)

____________

Hong Kong:

An Overview Of Compulsory Winding-Up In Hong Kong.
(DBN)

____________

Brazil:

Brazil Watchdog Offers Plea Deals to Americanas Employees in Fraud Probe
(DBN)

____________

India:

The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 | Far Reaching Changes
(DBN)

____________

Mexico:

Mexico Shadow Bank’s Collapse Leaves Some Investors in Dark
(DBN)

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