June 30, 2023

The Daily Bankruptcy News

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Due to the Independence Day holiday, The Daily Bankruptcy News will not publish on Monday and Tuesday, July 3 and 4, 2023



Law:

Crowell may pursue lawsuit for COVID-19 rent break, DC judge says
(DBN)

The Biggest Of All Biglaw Firms In The United States (2023)
(DBN)

The Biglaw Firm With The Best Associate Compensation
(DBN)

Global M&A activity plummets in 2023
(DBN)

DLA Piper raises London NQ pay to £100,000
(DBN)

Lawyer's former colleagues send poison pen letter to stop him getting employed
(DBN)

Professor who was one of first to write about the ‘law school scam’  brings Title VII claim
(DBN)

Firm boss pens steamy novel
(DBN)

Investigation of Trump Documents Case Continues After Former President’s Indictment
(DBN)

Pro-Trump lawyers deserve sanctions for ‘whole raft’ of baseless election claims, 6th Circuit says
(DBN)

Is Rudy Giuliani Trying To Cut A Deal With The Feds?
(DBN)

Judge swats away Trump request for dismissal in E. Jean Carroll defamation case Judge rejects Trump’s ‘presidential immunity’ defense in second E. Jean Carroll case
(DBN)

Trump Rearranges The Lawyers On His Litigation Titanic
(DBN)

Man with ties to Jan. 6 riot arrested near Obamas’ DC home Jan. 6 'fugitive from justice' allegedly arrested while running toward Obama's home
(DBN)

Special Counsel Jack Smith Prepares For Hot Indictment Summer
(DBN)

Hunter Biden Settles Child-Support Case Hunter Biden's child will get some of his art as part of support settlement House GOP committee chairs expand Hunter Biden tax probe
(DBN)

Testimony reveals that the Hunter Biden investigation collapsed into bitter acrimony
(DBN)

Astroworld tragedy: Grand jury declines to criminally charge Houston rapper Travis Scott, others
(DBN)

Jury acquits Scot Peterson, ex-deputy accused of failing to protect students in Parkland school shooting Former sheriff's deputy sobs as jury acquits him for not intervening in Parkland shooting Father of Parkland shooting victim knocks ex-school officer for ‘celebrating’ not guilty verdict
(DBN)

'Most Wanted' cocaine trafficker lived under fake name for decades, tricking family: Cops
(DBN)

Texas Sets New Hate Crimes Record
(DBN)

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Judges:

Supreme Court rejects affirmative action at colleges as unconstitutional Justice Jackson rips Supreme Court’s ‘ostrich-like’ logic on affirmative action Here’s what the affirmative action ruling does and does not do Ketanji Brown Jackson Dismantles SCOTUS Conservatives in Blistering Dissent Sotomayor’s biting dissent: Ruling rolls back ‘decades of precedent and momentous progress’ Ketanji Brown Jackson accuses Clarence Thomas of having 'an obsession with race consciousness' and relying on 'many more straw men' than can be listed in his affirmative action opinion Clarence Thomas: Affirmative Action Poster Child This Moment Is the Culmination of a 50-Year Backlash Against Affirmative Action Supreme Court’s Two Black Justices Spar Over Affirmative Action Consummate Textualist Brett Kavanaugh Fails Basic Reading Comprehension In Affirmative Action Case Thomas in rare occurrence reads affirmative action opinion from bench Clarence Thomas says he's 'painfully aware the social and economic ravages which have befallen my race' as he rules against affirmative action Biden on affirmative action decision: ‘This is not a normal court’ Supreme Court upends affirmative action, excludes military academies Black Caucus says Supreme Court has ‘thrown into question its own legitimacy’ with affirmative action ruling Michelle Obama speaks about how affirmative action personally affected her college life Obama says affirmative action ‘allowed generations of students’ to ‘prove we belonged’ Harvard Defends Diversity, Difference After Supreme Court Defeat Biden’s Health Chief Hits at Supreme Court’s Affirmative Action Ruling Supreme Court Affirmative Action Ruling Continues Its Radical Revolution The Supreme Court outlawed race-based admissions for colleges. Factoring in donors and legacy applications is still fine. Affirmative Action’s End Will Crush the Diversity Talent Pipeline The SCOTUS decision on affirmative action in colleges, explained Supreme Court’s Affirmative Action Ruling Follows Half-Baked Logic Ending affirmative action is watershed moment for higher education Trump, DeSantis praise Supreme Court affirmative action ruling DeSantis team resurfaces clip of Trump saying he’s ‘fine’ with affirmative action Med schools denounce affirmative action ruling Dems train fire on Supreme Court over affirmative action ruling Facing a future without affirmative action, students of color say the pressure is on them to fight for diversity: ‘To be going backwards in this sort of immense way is really scary’ The monstrous arrogance of the Supreme Court’s affirmative action decision Black leaders blast Supreme Court for overturning affirmative action With race-based admissions no longer an option, states may imitate Texas top 10% plan Biden urges ‘new path forward’ that factors in adversity after affirmative action ruling Can college diversity survive the end of affirmative action? Princeton professor: Affirmative action ruling will lead to ‘segregated’ higher ed Tim Scott calls for end to legacy admissions in wake of affirmative action decision Affirmative action is done. Here’s what else might change for school admissions. Newsom predicts ‘significant decline’ in Black, Latino admissions following affirmative action decision What Was Affirmative Action Really About? And What Happens Now? Affirmative action ruling will reinforce systemic racism, civil rights leaders say Five things to know about Supreme Court’s decision to curtail college affirmative action How America Fell Out of Love With Affirmative Action ‘Race Neutral’ Is the New ‘Separate but Equal’
(DBN)

Supreme Court rules for Christian postal worker who refused to work Sundays Supreme Court Strengthens Religious Rights in Postal Worker Case
(DBN)

Justice Ketanji Brown Jackson makes her mark during first term on the Supreme Court
(DBN)

Supreme Court injustice: ‘legal innocence’ is not enough
(DBN)

Supreme Court to rule Friday on student loans, LGBTQ rights
(DBN)

Benchslap Pricey Lesson for Lawyers in Volkswagen Opt-Out Case
(DBN)

Biden: Expanding Supreme Court would ‘politicize it maybe forever’
(DBN)

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Wall Street:

Stock futures rise as S&P 500 closes out huge first half gain
(DBN)

US stocks rise after fresh batch of positive economic data and bank stress tests
(DBN)

Goldman Sachs Loses Top M&A Ranking for First Time in Five Years
(DBN)

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Layoffs:

Boston-based cruise company Vantage lays off all employees, consumer advocate says
(DBN)

Master Lock’s Milwaukee plant to close after 100 years and send jobs abroad
(DBN)

Aera cuts about 10% of its workforce
(DBN)

Tacoma-based health giant announces layoffs amid continuing multi-million dollar losses
(DBN)

Niantic lays off 230
(DBN)

BMO Capital Markets cuts 100
(DBN)

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Healthcare:

Florida Malaria Cases Spark Bill Gates Conspiracy Theory
(DBN)

Texas abortion ban led to almost 10,000 additional live births
(DBN)

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Food/Beverage:

Monster Close to Acquiring Rival Bang Energy For $362 Million
(DBN)

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Crypto:

Crypto Disputes: The Valuation Challenge
(DBN)

Coinbase Seeks to Dismiss SEC Suit in Legal Response
(DBN)

Prime Trust Is Having a Bad Month
(DBN)

FTX Gives Customers Ultimatum To Submit Bankruptcy Claims Amid Talks Of Its Revival
(DBN)


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Utilities:

In Record Texas Heat Wave, ACs Keep Humming on Renewable Power
(DBN)

PG&E applies for federal loan to bolster California’s electricity grid
(DBN)

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Banking:

SVB Financial nears approval to sell its investment banking business
(DBN)

SVB Financial Faces Year-End Deadline for $2 Billion FDIC Fight
(DBN)

Wall Street Banks Ace Fed Stress Test, Clearing Way for Payouts
(DBN)

Credit Suisse AT1 Wipeout Is a Headache for Banks, Says Vontobel
(DBN)

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Hedge Funds:

Odey to Shutter Second Fund to Meet Client Redemption Demands
(DBN)

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Education:

It’s Time for Colleges to Guarantee Prices, Before Students Apply
(DBN)

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Tech:

People are more likely to believe AI-generated tweets than ones written by humans, study finds
(DBN)

Google Will Remove Canadian News From Search Over New Law
(DBN)

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Economy:

Weekly Initial Unemployment Claims Decrease to 239,000 US Jobless Claims Drop by Most Since 2021 in Holiday Week
(DBN)

Q1 GDP Growth Revised Up to 2.0% Annual Rate US First-Quarter GDP Revised Up to 2% on Exports, Consumers
(DBN)

Biden gets a boost as GDP growth exceeds forecasts
(DBN)

Job interviews are getting longer — here’s why it could be a red flag
(DBN)

The economy's latest upside surprise
(DBN)

US economy defies recession fears
(DBN)

The next revolution in monetary policy is underway
(DBN)

The US is headed for a more serious recession than Powell has predicted, Evercore founder says
(DBN)

The US economy is in a tough spot but may still escape a recession, ex-Goldman CEO Lloyd Blankfein says
(DBN)

Why Americans felt bad about a good economy — anemic wage growth
(DBN)

Help wanted: Labor shortage hits hard in rural West Texas as US slams door on migrants
(DBN)

Fed Swaps See at Least Two More Rate Hikes as Likelier Than Not
(DBN)

Fed’s Bostic Says Powell Sees More Urgency to Hike Than He Does
(DBN)

Brainard Sees Potential for Near-2% US Inflation by November 2024
(DBN)

America may need to start caring about the deficit again
(DBN)

Biden makes peace with "Bidenomics"
(DBN)

In return to office messaging, there’s now more stick, less carrot
(DBN)

More bullish on Dow, but not on a soft landing for economy: CNBC CFO survey
(DBN)

A $100 Billion Wealth Migration Tilts US Economy’s Center of Gravity South
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

US 30-Year Mortgage Rate Climbs to 6.71%, Ending Three-Week Streak of Declines
(DBN)

Forbearance Agreements: I Can’t Help You With Your Troubles If You Won’t Help With Mine
(DBN)

Realtor.com Reports Weekly Active Inventory Down Slightly YoY; New Listings Down 29% YoY
(DBN)

NAR: Pending Home Sales Down 2.7% in May; Down 22.2% Year-over-year US Pending-Home Sales Drop to Lowest This Year on Limited Supply
(DBN)

New home sales surprisingly surged 20% last month. It shows the fight against inflation is working.
(DBN)

The housing market is so unaffordable that a record share of homebuyers are looking to relocate to cheaper cities despite rising natural disaster risks
(DBN)

House hunting is already tough. Guess what? It’s about to get harder
(DBN)

Housing inventory is so tight in the US that prices are barely off of their all-time highs set last year
(DBN)

The 10 worst places in the U.S. for renters
(DBN)

Skid Row receiver resigns, prolonging formerly homeless tenants' turmoil
(DBN)

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Municipalities:

LA’s Homeless Population Soars 9% to a Record 75,518
(DBN)

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Oil/Gas:

Oil will continue to power the world for decades to come, industry players say
(DBN)

Biden Seeks to Shield Taxpayers from Aging Offshore Oil Well Cleanup Costs
(DBN)

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Politics:

Anti-LGBTQ Backlash Puts a Chill on Corporate America’s Rhetoric
(DBN)

GOP divided on first impeachment target
(DBN)

Republicans bet big on "the education election"
(DBN)

Koch Network Raises Over $70 Million for Push to Sink Trump
(DBN)

Trump support dips among Republicans after federal indictment: poll
(DBN)

Trump Talked About What Having Sex With Ivanka Might Be Like, Ex-Staffer Claims
(DBN)

Extreme Pride in Being American Remains Near Record Low
(DBN)

Christie bashes DeSantis’s Jan. 6 remarks: ‘Did he have a TV?’
(DBN)

DeSantis says he would eliminate four federal agencies if elected president
(DBN)

DeSantis signs bill allowing new roads to be built with mining waste linked to cancer
(DBN)

California Reparations Plan Calls for Apology and Education But Lacks Price Tag
(DBN)

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Media:

Two Months Later It’s Clear: Tucker Carlson Needed Fox News More Than Fox Needed Tucker
(DBN)

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Finance:

Libor Fades Into History After 50 Years of Benchmark Dominance
(DBN)

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Retailing:

Retailers Jump on Bankruptcy-Driven Vacancies
(DBN)

'Retail apocalypse' forces Walgreens to axe 150 stores by summer 2024
(DBN)

TV Shopping Network Owner iMedia Brands Files for Bankruptcy - WSJ
(DBN)

Alex and Ani closes 20 stores
(DBN)

Bed Bath & Beyond Picks Initial Buyer for BuyBuy Baby Assets Little-known NJ baby retailer tentatively wins rights to Buy Buy Baby's IP
(DBN)

Giant Food president says thieves are stealing 'everything' from shrimp to deodorant — and warns some grocery stores could close
(DBN)

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Celebs:

Kanye West's former business partner accuses him of antisemitic remarks, says the rapper told him: 'You're exactly like the other Jews'
(DBN)

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Autos:

Which Tesla Killer Will Be Next to Go Bankrupt?
(DBN)

The EV Sector Has A Serious Overproduction Problem
(DBN)

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Fraud:

Spain approves extradition to US of Briton accused of 'co-working Ponzi scheme'
(DBN)

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Religion:

Inside the Mormon Church’s Globe-Spanning Real-Estate Empire - WSJ
(DBN)

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Student Debt:

Biden isn't extending the student-loan payment pause — but borrowers might not have to immediately start repayment in October
(DBN)

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Chemicals:

Recession Watch: It Feels Like 'Lehman II’ in This Crucial Industry
(DBN)

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Event Facilities:

US Trustee details mismanagement at Legacy Park in Mesa
(DBN)

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Labor:

Southwest Pilots Are Inching Closer to a Strike
(DBN)

A major UPS strike is looming — here’s what that means for your packages
(DBN)

Workers at Boeing 737 supplier approve labor deal, ending strike
(DBN)

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New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (18 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (4 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Sovereign Immunity:

Sovereign Immunity In Bankruptcy: Contrasting Opinions From U.S. Supreme Court (Puerto Rico & Lac Du Flabeau Tribe)
(DBN)

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Bad Faith:

What’s Insolvency Got to Do With it Anyway? Assessing “Bad Faith” Bankruptcy Filings Following In Re Aearo
(DBN)

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Corporate Governance:

Corporate Governance: Lessons for Directors From Recent Bank Failures
(DBN)

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Aviation:

Western Global Founder Buys Debt in Bid to Keep Airline Afloat
(DBN)

Flight disruptions stretch into fifth day This week’s delayed flights are just the beginning Thousands of miserable passengers cram into security at New York City airports as hundreds of unclaimed bags pile up at LAX
(DBN)

Get ready for a flightmare: What to expect if you're one of the 4 million Americans flying this Independence Day weekend
(DBN)

A man claimed he witnessed a 'pre-boarding scam' after people requested wheelchairs to presumably board a plane first. Southwest Airlines said it's 'unable to question' customers needs because disabilities aren't always visible
(DBN)

Ryanair Cancels Paris Schedule as Strike Shuts Down Airport
(DBN)

Delta flight diverted due to ‘unruly passenger’
(DBN)

A man who emerged from a bathroom foaming at the mouth on an Alaska Airlines flight had to be restrained before reaching the cockpit, affidavit says
(DBN)

Go First extends cancellation of its scheduled flights till July 6
(DBN)

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Food/Beverage:

Cheaper Than Water? Retailers Try to Unload Bud Light.
(DBN)

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Movie Theaters:

AMC 'backstabbed' retail investors, settlement opponent tells court
(DBN)

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Climate:

Nearly 200 million under extreme weather alerts as heat and smoke pummel U.S. D.C. issues Code Red air quality due to Canada wildfires ‘Extreme threat’: Large swathe of southern US at dangerous ‘wet bulb temperature’
(DBN)

While Texas Heats Up, Its Climate Denying Politicians Seek Federal Help
(DBN)

America's surprising energy and climate views
(DBN)

Canada wildfire season declared worst on record
(DBN)

A shipping emissions showdown stands in the way of a landmark climate deal
(DBN)

NY governor: ‘We are truly the first generation to feel the real effects of climate change’
(DBN)

Funding to Cut Methane Emissions 'Woefully' Short of What's Needed
(DBN)

Biden's push for electric cars alienates longtime union allies
(DBN)

Study: California's holiday weekend heat wave has direct ties to climate change
(DBN)

Coastal homeowners undercharged for wind insurance, flood coverage is a mess in storm season
(DBN)

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Cruise Lines:

Boston-based cruise company Vantage files for bankruptcy, agrees to sell to United Travel Pte. Ltd. What does bankruptcy mean for Vantage cruise customers?
(DBN)

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Trucking:

Carriers owed millions after Mississippi brokerage files for Chapter 7
(DBN)

Yellow is a zombie company — it’s time to let it go
(DBN)

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Sovereigns:

Venezuela’s Machado to Present Debt Refinancing Plan in New York
(DBN)

Zambia’s Deal With China and Others Clears Way to Revamp Bonds
(DBN)

Pakistan, IMF reach $3 billion staff-level agreement
(DBN)

China's debt relief to poor countries slows amid continuing appeals for support China slows down debt relief, shows support for multilateral approach
(DBN)

Sri Lanka could exit bankruptcy by September, says president
(DBN)

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UK:

UK Water Bills Soar 350% Since Privatization to Double Inflation
(DBN)

Fiscal Drag Pulls 4 Million More UK Workers Into Tax Since 2020
(DBN)

Some Thames Water Bonds Have a Surprise Savior in Jeremy Corbyn UK Water Stocks Slide as Worries Grow Over Thames Debt Crisis Thames Water’s annual profit figures may come out after MPs grill industry executives Thames Water crisis explained as utility giant serving 15m people faces collapse
(DBN)

Major investigation launched as Gino D’Acampo’s restaurant chain collapses with £5.4 million debt
(DBN)

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EU:

Euro-Zone Inflation Expectations Gauge Slumps to Seven-Year Low
(DBN)

Euro-Area Core Inflation Quickens Again in Setback for ECB
(DBN)

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Canada:

Immigration Surge Bypasses Quebec City, Leaving Firms Struggling
(DBN)

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Ireland:

Insolvencies up 54% in first half of 2023
(DBN)

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Russia:

Top Russian General Surovikin Quizzed Over Mutiny Challenging Putin’s Rule Putin Seeks to Project Strong Image as Military Questions Linger There's blood in the water after Prigozhin's revolt shattered the façade of Putin's invincibility Russian General Sergey Surovikin was secret VIP member of Wagner, documents show Wagner forces will no longer fight in Ukraine; Prigozhin deal terms may still be under discussion
(DBN)

Pence meets with Zelensky in surprise visit to Ukraine
(DBN)

U.S. actively considering giving cluster munitions to Ukraine
(DBN)

Russia's 'high value' command aircraft have been staying out of Ukraine's reach to keep them safe — only to have Wagner shoot one down at home
(DBN)

Russian ruble extends freefall as US weighs new weapon for Ukraine amid Putin regime's disarray
(DBN)

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Germany:

How German Landlord Adler Ended Up the Target of a Seven-Country Raid
(DBN)

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China:

Inventor of ‘Balance-Sheet Recession’ Says China Is Now in One
(DBN)

China’s factory activity shrinks for a third month as recovery momentum stalls
(DBN)

China’s previous monetary stimulus ‘just isn’t working,’ a private survey shows
(DBN)

Xi’s Plan for China’s Economy Is Doomed to Fail
(DBN)

Chinese Are Becoming More Pessimistic About Incomes and Housing
(DBN)

China’s Property Market Enters Troubling New Phase - WSJ
(DBN)

Chinese spy balloon did not transmit data: Pentagon
(DBN)

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France:

France’s Macron Holds Crisis Meeting As Clashes Spread Over Killing of Teen Near Paris 667 Arrested in France's Third Night of Riots
(DBN)

French Inflation Follows Italy, Spain Down to 14-Month Low
(DBN)

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