June 23, 2023

The Daily Bankruptcy News

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Law:

Judge sanctions lawyers for brief written by A.I. with fake citations • ChatGPT Lawyers Get Slap On The Wrist From Court. But Infamy Is Forever • Fake ChatGPT Cases Costs Lawyers $5,000 Plus Embarrassment
(DBN)

Do NOT, I Repeat, Do NOT Use ChatGPT For Legal Research
(DBN)

Bryan Cave Hit by Cyberattack Involving Client Mondelez’s Data
(DBN)

More than half of in-house lawyers back ChatGPT’s use for legal work, study shows
(DBN)

Sullcrom Is Super Proud Of Themselves For Making It Easier For The State To Confine The Innocent
(DBN)

Perkins Coie Is The Next Firm To Defer Incoming Associates
(DBN)

Biglaw Gaslighting 101: Blaming Layoffs On Associate Salaries
(DBN)

Man sentenced for murdering ex-wife's divorce attorney and setting law office ablaze
(DBN)

University Settles Ousted Law School Dean's Gender Bias Lawsuit By Awarding Tenure She Was Promised When Hired • Dean settles case with Texas law school and returns as tenured professor
(DBN)

Company’s religious liberty trumps Title VII ban on discrimination against LGBTQ employees, appeals court says
(DBN)

Lawyers told to catch buses and go to 'normal' restaurants
(DBN)

3 Lessons In-House Counsel Can Learn From 'Hamilton'
(DBN)

Board of Trustees Decides Fate Of 122-Year Old San Francisco Law School
(DBN)

Law School In A Pandemic — How Online J.D. Experiences Varied Across Students
(DBN)

Lawyer falls for Grindr trap
(DBN)

New Lewis Brisbois Head Takes Over Amid Chaotic Stretch for Firm
(DBN)

Lordy There Are More Tapes According To New Filing In Trump Criminal Case • Trump Prosecutors Struggled Over Motives. Then They Heard the Tape - WSJ • Trump Melts Down as DOJ Turns Over Evidence It Plans to Use Against Him • Senate Democrat on new filing in documents case: Trump lawyers will have ‘bad Christmas’ • DOJ turns over Mar-a-Lago grand jury testimony to Trump team
(DBN)

Trump campaign's Election Day operations official appears before Jan. 6 grand jury
(DBN)

E. Jean Carroll's legal team: New trial bid is a 'Trump-branded form of magical thinking'
(DBN)

Two IRS whistleblowers alleged sweeping misconduct in the Hunter Biden tax investigation, new transcripts show • Hunter Biden investigators limited questions about 'dad,' 'big guy' despite FBI, IRS objections: whistleblower
(DBN)

Obama warns democratic institutions are ‘creaky,’ but says Trump’s indictment is proof rule of law still exists in US
(DBN)

Where abortion laws stand in every state a year after the Supreme Court overturned Roe • A Year Without Roe: Here Are the Stories of People Denied Abortions • 10 things we’ve learned about abortion in the year since Roe fell • Safe haven states scramble to accommodate non-resident abortions
(DBN)

Anti-LGBTQ+ hate is driven by extremist groups and targets drag shows, study finds • Report Cites More Than 350 Anti-L.G.B.T.Q. Incidents Over 11 Months
(DBN)

Supreme Court Might Allow Vendors to Discriminate Against Customers
(DBN)

Prosecutor Fired by DeSantis Won’t Be Reinstated, Court Rules
(DBN)

Amid a Wave of Antisemitic Hate Crimes, a New York Unit Offers a Model of Resistance
(DBN)

Man indicted for allegedly shooting his 3 young sons execution-style in front of their mom
(DBN)

Dad killed wife, set house ablaze with 3 kids inside, bound himself to fake home invasion
(DBN)

Corporate America closely watching Supreme Court affirmative action ruling
(DBN)

Lawmakers Seek to Ban Buy-Now, Pay-Later Loans for Semiautomatic Weapons
(DBN)

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Judges:

Breaking The Clerkship Silence About Nightmare Judges
(DBN)

Supreme Court Struggle to Spot Conflict Laid Bare in Alito Trip
(DBN)

Alito caught in crosshairs of latest Supreme Court scandal
(DBN)

With focus on Alito trip, Senate Democrats vow action on ethics bill
(DBN)

Alito, Thomas and the Supreme Court’s culture of concealment
(DBN)

Clarence Thomas Just Wrote The Dumbest Paragraph In The History Of Indian Law
(DBN)

Jackson slams Thomas, blames Court for 'systematic neutering' of criminal justice
(DBN)

MAGA Mask Mandate Opinion Vacated By Grown Ups On Circuit Court
(DBN)

Judge allegedly called defendant ‘punk,’ declared Middle Eastern men are abusive, motion says
(DBN)

Judge's bizarre concurrence asks whether people can 'manage' to say 'don't have sex'
(DBN)

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Wall Street:

Stock futures fall as Wall Street heads for losing week
(DBN)

Powell Says Wall Street Faces Higher Capital Requirements
(DBN)

Analysts keep raising earnings expectations for the S&P 500
(DBN)

The Loony Conspiracy Theory Threatening Wall Street
(DBN)

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Layoffs:

Baker Tilly Gets Rid of 180 People, Cites a ‘Resource Mismatch’
(DBN)

Under Armour lays off 50 in corporate roles
(DBN)

Ford preparing for new round of layoffs for US salaried workers
(DBN)

Accenture to lay off hundreds in second round of Austin-area cuts announced since May
(DBN)

Hasbro’s eOne to Lay Off 20% of Employees as Cost-Cutting Continues
(DBN)

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Retailing:

Bed Bath & Beyond to join Toys ‘R’ Us, Radio Shack in list of brands that got a second lease on life • Bankrupt retailers find new life: Why Bed Bath & Beyond won't go away completely
(DBN)

Regional off-price retailer Forman Mills lays off nearly 300, closes stores as it mulls bankruptcy • Forman Mills finds a buyer and avoids bankruptcy
(DBN)

Discount retailer says it will file for bankruptcy, close stores if it can’t find buyer
(DBN)

Carrie Bradshaw's beloved Bergdorf Goodman department store faces sell-off just three years after being saved from bankruptcy
(DBN)

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Sports:

Diamond requests to end current D-backs TV deal • As Twins wait, Bally Sports will exit deal with Diamondbacks
(DBN)

Tennis great Martina Navratilova gives four-word reaction to Riley Gaines' exchange with activist at hearing
(DBN)

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Tech:

EU warns Twitter to beef up content moderation as new rules loom
(DBN)

Twitter CEO Starts Fighting Musk's Battles
(DBN)

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Crypto:

US lawmaker demands answers from SEC on docs related to Sam Bankman-Fried's arrest
(DBN)

Alameda Seeks Return of $700M Paid to ‘Super Networkers’ for Celebrity, Political Access
(DBN)

FTX Sues KG Global, Former Clinton Aide's Investment Firm In $700M Retrieval Bid
(DBN)

SEC Relinquishes $30M BlockFi Penalty Until Investors Are Repaid
(DBN)

How Financial Advisors Can Navigate Crypto’s Turbulent Waters
(DBN)

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Maritime:

Norwegian Broker Lorentzen & Co. Declares Bankruptcy
(DBN)

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Education:

Our Tragic History That Must Be Taught
(DBN)

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Hotels:

Hotels: Occupancy Rate Down 1.1% Year-over-year
(DBN)

Banyan Cay: $102 million sale of long-delayed hotel complex could take place this summer
(DBN)

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Economy:

US Jobless Claims Hold at Highest Level Since October 2021
(DBN)

Rate Hikes Echo Around the World as Inflation Proves Unrelenting
(DBN)

Are Interest Rate Rises Squeezing Working Capital?
(DBN)

Fed's Barkin not yet convinced inflation heading steadily lower
(DBN)

Fed nominees stress inflation control but otherwise stay vague
(DBN)

Powell Repeats More Rate Hikes Needed to Get Inflation to Goal
(DBN)

More Interest Rate Increases Are Needed to Tame Inflation, Fed’s Bowman Says
(DBN)

The US economy is looking bright thanks to falling inflation and no sign of recession, Nobel economist Paul Krugman says
(DBN)

You're more likely to live the American dream in Germany, Denmark, or Australia
(DBN)

Here's how much money Americans think they need to retire comfortably
(DBN)

Americans are so indebted that it’s holding back the economy. These 4 key reforms could give them room to breathe
(DBN)

Republicans are talking entitlement cuts again, despite Trump’s warnings
(DBN)

Employers are upping their incentives to bring workers back to office
(DBN)

Men Are Returning to Offices in US Faster Than Women, New Data Show
(DBN)

Forcing People Back Into the Office to Foster Mentoring Will Only Foster Resentment, Says Cringe Nicknamed Doctor
(DBN)

American Population Older Than It Has Ever Been
(DBN)

Americans are giving to charity at lowest level in nearly 3 decades
(DBN)

People Shouldn’t Be in a Constant State of Stress and Exhaustion Due to Their Jobs, Deloitte Report Unironically Says
(DBN)

Cash ratios dip further in Q1 for companies with weak credit ratings
(DBN)

Hispanics are now the largest demographic group in Texas, census data confirms
(DBN)

Florida Employers Fear New Immigration Law
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Covenant Enforcement and the Automatic Bankruptcy Stay
(DBN)

Distressed US Commercial Property Assets Swell to $64 Billion
(DBN)

Commercial Real Estate Reset Is Causing Distress From San Francisco to Hong Kong
(DBN)

Gen Z is snatching up houses in regional cities
(DBN)

NAR: Existing-Home Sales Increased to 4.30 million SAAR in May • Home sales barely budge from April to May in sluggish spring market • Home sales inch up in May amid record-low inventory and biggest annual drop in prices since 2011 • US Home Resales Barely Rise as Inventory Constraints Worsen
(DBN)

Realtor.com Reports Weekly Active Inventory Up 5% YoY; New Listings Down 26% YoY
(DBN)

Homes for sale hit record low as rate hikes walloped market
(DBN)

'We're in a perfect storm.' Insurers flee parts of America amid the climate crisis and rising costs to rebuild.
(DBN)

Local developer vows to rescue Maine’s third-largest mall
(DBN)

High-end Dallas retirement community under new ownership following bankruptcy proceedings
(DBN)

Pair of hotel investors file Chapter 11 for Pacific Heights home
(DBN)

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Municipalities:

PREPA bankruptcy schedule suspended
(DBN)

Big cities are showing signs of recovery after historic population losses, new census data shows
(DBN)

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Oil/Gas:

Cities in the U.S. with the cheapest and most expensive gas
(DBN)

Two years after record-shattering heat dome, Oregon county sues big oil
(DBN)

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Labor:

GOP senators back bill to weaken worker power by amending labor law
(DBN)

Key Boeing supplier stops production at Wichita plant after workers vote to strike
(DBN)

Starbucks union says workers at more than 150 stores will strike over Pride decor
(DBN)

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Healthcare:

Fitch Ratings adds Radiology Partners to list of top companies at risk of a debt default
(DBN)

After Roe v. Wade fell, this father-daughter duo left Texas to go on providing abortions
(DBN)

3 judges block state restrictions on gender-affirming health care in 1 week’s time
(DBN)

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Politics:

Florida transgender Medicaid ban unconstitutional, judge rules
(DBN)

Drag Is Protected Speech, Federal Judge Rules
(DBN)

Why Republicans are censuring Adam Schiff • What does it mean if someone is censured?
(DBN)

Ex-Texas congressman Will Hurd calls Trump a 'failed politician' as he launches GOP presidential run • 5 Things to Know About Will Hurd
(DBN)

GOP's field for president is historically diverse
(DBN)

Daunted by Trump, Many Wait to Launch 2024 Bids
(DBN)

Republicans punt on Boebert’s effort to impeach Biden • House punts on GOP hardliners’ Biden impeachment push — for now • House votes to refer Biden impeachment resolution to committee • Top GOP senators bristle at House impeachment efforts
(DBN)

House Republicans move to strip security clearances from any official that said in 2020 that the release of Hunter Biden's emails had 'classic earmarks of a Russian information operation'
(DBN)

Why is the DeSantis campaign struggling? • DeSantis won’t say if he’ll support Trump in 2024
(DBN)

One Delaware city is poised to give corporations the right to vote
(DBN)

Revealed: The Mystery Benefactors Who Paid George Santos’ Bail • George Santos’s Father and Aunt Are Guarantors of His Bond • Rep. George Santos bluffed on jail threat, as filing shows family signed his $500,000 bond
(DBN)

Trump Thinks He Did a Great Job in ‘Disaster’ Fox News Interview
(DBN)

Republicans Are Torching Democracy to Deny Women Abortions
(DBN)

Abortion Remains a Potent Issue for Pro-Choice Voters • Abortion ruling hands Democrats a political gift: an issue that wins elections • House conservatives challenge their leaders on abortion
(DBN)

Coors Sponsors Major Pride Parade Despite Backlash Potential
(DBN)

Maricopa County Recorder Stephen Richer sues Kari Lake, her campaign for defamation
(DBN)

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Autos:

June Vehicle Sales Forecast: 15.9 million SAAR, Up Sharply YoY
(DBN)

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Student Debt:

House fails to overturn Biden veto in effort to cancel student debt relief
(DBN)

Former Students Plan to Ignore Loan Repayments When Pause Ends
(DBN)

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Rail:

Crew warned Norfolk Southern about train size before East Palestine derailment
(DBN)

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Agribusiness:

Saudi farm brings Arizona water controversy to boiling point
(DBN)

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New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (12 new filings today)
(DBN)

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

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

Farm bankruptcies hit record low in 2022
(DBN)

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Subchapter V:

Getting Subchapter V Trustees Paid: § 1191(e)
(DBN)

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Sovereign Immunity:

Supreme Court Determines Section 106(a) of the Bankruptcy Code Waives Sovereign Immunity of Native American Tribes
(DBN)

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Social Media:

Social Media is Everywhere, But Who Owns these Social Media Accounts Anyway?
(DBN)

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Discharge:

Don’t Expect to Discharge That PAGA Debt in Bankruptcy
(DBN)

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Cross-Border:

Orpea creditors Kyma Capital, LMR apply to US court to obtain documentation
(DBN)

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Mass Torts:

Federal ruling upholds $400K fine in case where judge recused himself over Catholic ties
(DBN)

J&J talc bankruptcy unit to establish $750M trust fund with insurers
(DBN)

3M agrees to pay $10.3 billion to settle ‘forever chemicals’ drinking water lawsuits
(DBN)

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Aviation:

Wheels Up Stock Plunges On Bankruptcy Rumors • Wheels Up sinks amid report of hiring restructuring lawyers
(DBN)

United to send flight disruption vouchers to travelers’ phones
(DBN)

FedEx to shut down 29 more aircraft as demand shrinks
(DBN)

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Coal:

Solar and wind out-powered coal so far this year
(DBN)

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Media:

Vice declares Fortress Investment Group the winning bidder in bankruptcy auction • Vice Media, once worth billions, set to be acquired out of bankruptcy by its creditors for $225 million
(DBN)

Canada Passes Law Forcing Meta, Alphabet to Pay News Publishers
(DBN)

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Religion:

In Europe’s empty churches, prayer and confessions make way for drinking and dancing
(DBN)

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Climate:

Meteorologist resigns, citing PTSD from threats over climate coverage
(DBN)

Scientists warn rapid melting of Himalayan glaciers will impact us all
(DBN)

New hurricane center director: Warming climate to worsen storm surge
(DBN)

A Record-Breaking Heat Wave Is Baking Northern China
(DBN)

IMF, World Bank under pressure to boost climate change financing
(DBN)

Paris climate summit opens with call for ‘finance shock’
(DBN)

Three of Mount Rainier's Glaciers are Gone
(DBN)

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Cannabis:

Fire & Flower Sees Opposition in Controversial Sale Amid Bankruptcy Battle
(DBN)

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Banking:

Bank Failures Breathe New Life into Old Issue
(DBN)

Justice Department, SEC Officials Probing Goldman Role in SVB
(DBN)

Big VC, Tech Got Backstop for Billions in Uninsured SVB Deposits
(DBN)

FDIC Chair Backs Stricter Capital Requirements for Midsize Banks
(DBN)

JPMorgan is already losing First Republic bankers
(DBN)

Judge delays hearing on suits piling up against SVB, execs
(DBN)

Fed Chair Powell says smaller banks likely will be exempt from higher capital requirements
(DBN)

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Sovereigns:

At Paris summit, World Bank unveils debt payment pause for disaster-hit countries
(DBN)

Pakistan’s premier meets with the head of IMF in Paris, hoping to unlock $6B deal to avoid default
(DBN)

Zambia and China, along with other creditors, reach agreement on debt relief • Zambia seals $6.3 billion debt restructuring deal
(DBN)

Kyrgyzstan offers Paris Club of creditors to swap debt for environmental protection projects
(DBN)

Argentina Seeks Biden Support in Debt Talks With 'Inflexible' IMF
(DBN)

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UK:

Bank of England hikes interest rates to 5%, stoking fears of a ‘mortgage bomb’ • Bank of England surprises with 50 basis point rate hike to tackle persistent inflation • ‘We know this is hard’: UK braces for more pain as BoE lifts rates again • UK recession fears mount after Bank of England hikes borrowing rates by more than expected • BOE’s Surprise Half-Point Hike Won’t Be Its Last, Markets Say • Sunak Says Tackling Inflation ‘Hard’ as BOE Hike Exposes Tension • Bank of England’s Shock Rate Rise Divides UK Economist Reaction
(DBN)

Workers Should Stop Demanding Higher Pay to Curb Inflation, BOE’s Bailey Says
(DBN)

Brexit an ‘economic disaster’ for trade between UK and Germany, say economists
(DBN)

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EU:

European companies cut jobs as economy sputters
(DBN)

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Russia:

Russian troops still build battlefield defenses like they did in World War II, and it's one of their rare successes in Ukraine, experts say
(DBN)

Zelensky Accuses Russia of Plotting 'Terrorist Act' at Nuclear Plant
(DBN)

Ukraine Reports Slow Counteroffensive Progress as Its Forces Attack Supply Lines
(DBN)

Russia Covers Up Key Budget Spending Data as War Swells Deficit
(DBN)

Infighting among Putin’s lieutenants seems to reveal signs of ‘deep dysfunction’
(DBN)

Ukraine intensifies pressure in long-shot push for NATO membership
(DBN)

Germany Signs Long-Term U.S. LNG Deal To Replace Russian Gas
(DBN)

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MENA:

Spiraling Violence in the Occupied West Bank Signals a Loss of Control
(DBN)

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Brazil:

Brazil's Americanas rushes to produce new financials, strike deal with debt holders
(DBN)

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Singapore:

Justice Kannan Ramesh appointed as President of International Insolvency Institute
(DBN)

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India:

Reimagining the Insolvency Process: A Case of Multiple Resolution Plans
(DBN)

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