May 9, 2023

The Daily Bankruptcy News

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Law:

“He wasn’t even an elegant thief”: Kossoff trustee seeks to claw back $18M
(DBN)

When TikTok-famous associates clash with their law firms over paid deals
(DBN)

The Top 20 Most Profitable Law Firms (2022)
(DBN)

California's bar pass rate sinks, following national trend
(DBN)

Ropes & Gray Abandons Hong Kong Restructuring Practice as Leader Departs
(DBN)

Male law firm partner fined £23k for ‘sexualised’ song towards female trainee
(DBN)

People trying to claim real videos are deepfakes. Courts not amused
(DBN)

Agents reviewing extremist social media postings of Texas gunman who killed 8 Gunman Had Nazi Tattoos Disturbing Posts Show Neo-Nazi Shooter Planned to Target Texas Mall Shooter recorded bizarre rant on cellphone voicemail before Texas mall carnage: report Former Army officer and witness to Texas mall shooting who calls himself a 'gun lover' says mental health isn't the problem: 'We need more gun control' Texas mass shooting survivor says a store employee who was killed saved her and 12 others by hiding them in a bathroom closet How easy is it to buy an AR-15 rifle in the state of Texas? Here’s what the law says ‘RWDS’: What the Patch Found on the Texas Gunman’s Chest Stands For Mall shooting victims include a 3-year-old boy and his parents Texas mall shooter Mauricio Garcia planned attack for weeks, timing rampage for maximum carnage ‘Nowhere is safe’: Fear and anguish grip shoppers after Texas mall shooting
(DBN)

Gavin Newsom Points Out Greg Abbott's Brutal Self-Own On Gun Violence
(DBN)

US passes 200 mass shootings this year
(DBN)

Texas House panel advances bill to raise age to buy semi-automatic rifles
(DBN)

Driver in deadly Texas vehicle crash charged with manslaughter
(DBN)

Closing arguments start for columnist’s claims against Trump Trump followed his ‘playbook’ for sexual assault on writer, lawyer tells jurors E. Jean Carroll’s Lawyers Close With Trump’s Own Damning Words Trump is ‘nonstop’ liar who destroyed E Jean Carroll’s reputation, jury hears Absence at trial shows 'he did it,' lawyer says To testify or not to testify: Trump’s fateful choice
(DBN)

Trump prohibited from posting evidence in hush money case to social media, judge rules
(DBN)

Trump Ally Sidney Powell Defeats One Ethics Probe, Now Faces a New One
(DBN)

As probes intensify, foes see opening
(DBN)

Oath Keepers Leader Wants Leniency for Public Service … of Creating the Oath Keepers Oath Keepers' Rhodes seeks leniency in Jan. 6 sentence
(DBN)

Marjorie Taylor Greene renews call for public release of Jan. 6 tapes
(DBN)

Mexico Warns Smugglers Are Using Title 42 to Lure Migrants to U.S. Border Texas Gov. Abbott is launching a ‘Tactical Border Force’ to patrol ‘hot spots’ where migrants cross Biden would veto House GOP bill on border enforcement Abbott deploying ‘tactical border force’ as Title 42 nears end How those fleeing Ukraine inspired US border policies
(DBN)

Soldier to be sentenced for murder in Texas protest shooting
(DBN)

Peter Nygard ordered to pay billionaire neighbor $203 million in damages after driveway feud escalated to accusations of arson and Ku Klux Klan links
(DBN)

Disney Cites Ron DeSantis’ Latest Comments And Actions In Updated Lawsuit Against Florida Governor
(DBN)

He helped craft the 'bounty hunter' abortion law in Texas. He's just getting started
(DBN)

Postal carriers increasingly being robbed -- at gun point
(DBN)

A TikTok ‘investigator’ faces fallout after claiming to crack a serial killer case
(DBN)

After School Satan Clubs gain popularity amid legal victories
(DBN)

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Judges:

Patrick G. Radel to Serve as Bankruptcy Judge in the Northern District of New York
(DBN)

The Tale of the Only U.S. Supreme Court Justice to be Impeached
(DBN)

What Conservatives Can’t Say About Clarence Thomas
(DBN)

Clarence Thomas Skated on Ethics Complaints in 2012
(DBN)

Senate Democrats Ask Crow to Detail His Gifts to Justice Thomas
(DBN)

Abortion pill case to be heard by conservative, anti-abortion panel
(DBN)

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Wall Street:

S&P 500 futures are flat as investors await closely followed inflation data
(DBN)

Wall Street Rattled by Selloff, Trading Halts at Two Small Banks
(DBN)

U.S. stocks close mixed after Fed loan survey
(DBN)

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Layoffs:

Bed Bath & Beyond will reportedly pay severance to 1,293 workers in New Jersey after it faced sharp criticism over prior cuts
(DBN)

Intel plans fresh round of layoffs
(DBN)

AI could replace 80% of jobs 'in next few years': expert
(DBN)

CEOs Are Making Millions While Laying Off Thousands Of Workers And Filing For Bankruptcy
(DBN)

Novavax to Cut a Quarter of Global Workforce as Pandemic Eases
(DBN)

LinkedIn Cuts 716 Jobs in China, Kills App in Deepening Pullout
(DBN)

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Student Debt:

If Supreme Court affirms Biden student loan forgiveness plan, some college ‘stopouts’ may reenroll
(DBN)

Meet a mom with $610,000 in student debt who still can't separate her balance from her ex-husband's 8 years after their divorce: 'This one thing is still holding me stuck to him'
(DBN)

U.S. Department of Education Announces $42 Billion in Approved Public Service Loan Forgiveness for More Than 615,000 Borrowers Since October 2021
(DBN)

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Private Equity:

Private equity's looming bankruptcy boom
(DBN)

____________

Weight Loss:

Weight Loss Brand Jenny Craig Files for Bankruptcy, Shuts Down Jenny Craig ANZ business placed in administration
(DBN)

____________

Food/Beverage:

Some brands are 'slack-filling' to cleverly disguise how much product you actually get
(DBN)

____________

Politics:

‘Really weak option’: Wall Street sours on DeSantis as Trump challenger
(DBN)

Senate GOP sees Trump as looking increasingly dominant
(DBN)

George Stephanopoulos' Unfiltered Reaction To New Trump-Biden Poll Says It All
(DBN)

Republicans want Manchin to bow out, fearful that he may have one more trick up his sleeve
(DBN)

12-week abortion ban will do great harm, North Carolina's governor says
(DBN)

GOP Election Deniers Are Gunning Big for Pennsylvania Local Government
(DBN)

Texas lawmaker, who previously said drag queen story hours would sexualize children, should be expelled for sexual misconduct with a teenage intern, committee says
(DBN)

West Virginia Gov. Jim Justice Runs for Senate Amid Stacks of Unpaid Bills
(DBN)

Six months after midterm losses, election deniers mount new efforts...
(DBN)

____________

Kitchenware:

Tupperware seeks to lock in alternatives to bankruptcy
(DBN)

____________


Economy:

Nearly half of baby boomers have no retirement savings
(DBN)

The War on Poverty Did Not Fail
(DBN)

US Small-Business Optimism Falls to Lowest Level in a Decade
(DBN)

Deal or default? Biden, GOP must decide what’s on the table Why McConnell and McCarthy locked arms on the debt crisis Pressure grows on Biden to bend in debt ceiling talks What a Debt Ceiling Deal Might Look Like Yellen is calling CEOs personally to warn on US debt ceiling -sources US could default on national debt as soon as early June: analysis Lawsuit: Yellen should ignore ‘unconstitutional’ debt limit Fed’s Goolsbee Warns Debt-Limit Showdown Is Clouding Economic Outlook Biden battens down the hatches More Market Stress Is Needed to Spur Debt-Limit Deal, Ex-Biden Adviser Singh Says Americans Divided on Debt-Ceiling Standoff Biden, McCarthy Head Into Showdown as Debt Limit Crisis Nears Nobel economist Paul Krugman says the possibility of a US default is very real, and the debt ceiling should be abolished as it gives extremists an issue to 'weaponize' Mitch McConnell Warns He Has No ‘Secret Plan’ to Solve US Debt Impasse US Government Workers Sue to Block Shutdown Amid Debt Crisis Default an 'Entirely-Avoidable Economic Catastrophe' Path to a debt-ceiling deal: Fail, then succeed U.S. Debt Rises Irrespective of Who Is in the White House Chaos? Kumbaya? How the debt limit standoff might end 14th Amendment emerges as last-ditch fix to ward off default 14th Amendment talk on debt limit viewed with extreme caution by Team Biden
(DBN)

Fed’s Goolsbee says he feels ‘vibes’ that a credit squeeze is coming
(DBN)

Fed Says Banks Kept Tightening Loan Standards In First Quarter
(DBN)

Fed Survey: Banks reported Tighter Standards, Weaker Demand for All Loan Types
(DBN)

Fed lending survey has perfect track record when it comes to foreshadowing recessions: strategist
(DBN)

Short-Term Inflation Expectations Decline; Perceived and Expected Credit Conditions Mostly Unchanged
(DBN)

Further rate hikes could pose risks to financial stability, Fed says
(DBN)

Comparing the Speed of Interest Rate Hikes (1988-2023)
(DBN)

The most important thing Warren Buffett said Saturday, and it isn’t good news for the economy
(DBN)

Why labor shortages could be here to stay
(DBN)

Tyson Cuts Meat Sales Outlook as Inflation Hits Spending
(DBN)

Lines stretch down block at food banks as costs go up and pandemic aid expires
(DBN)

A charcoal brand's failed price hikes are a perfect example of 'greedflation' gone wrong
(DBN)

Tipping at Self-Checkout Has Customers Crying ‘Emotional Blackmail’ - WSJ
(DBN)

Goldman Sachs Joins Barclays in Bet Against Fed Rate Cuts This Year
(DBN)

Outlook for household spending slumped in April, New York Fed survey shows
(DBN)

Morgan Stanley’s Wilson Says Economy Signaling Weaker Earnings
(DBN)

The American City Where Everyone Has A Job
(DBN)

Income inequality and income segregation in US cities
(DBN)

Big Rig Sales Fall 6 Out of the Last 7 Months
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

Housing May 8th Weekly Update: Inventory Decreased 0.6% Week-over-week
(DBN)

"Mortgage Rates Jump to Highest Levels Since Last Monday"
(DBN)

Fannie "Real Estate Owned" inventory essentially unchanged in Q1
(DBN)

Update: Framing Lumber Prices Down 57% YoY, Below Pre-Pandemic Levels
(DBN)

Lawler: American Homes 4 Rent Net Seller of Single-Family Homes Last Quarter
(DBN)

Banks grow cautious on CRE, raising questions for borrowers and policymakers
(DBN)

Owner of Harrisburg housing complex Governor’s Square files for bankruptcy
(DBN)

DeSantis signs bill that bans Chinese citizens from buying land in Florida
(DBN)

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Municipalities:

Mapping U.S. Urbanization, by State
(DBN)

____________

Oil/Gas:

The Gulf of Mexico Has a $30 Billion Unplugged Oil Well Problem
(DBN)

An Oil Expert Explains U.S. Energy Independence To TikTok
(DBN)

____________

Banking:

California regulator cites social media, digital banking as key factors in Silicon Valley Bank's failure California bank regulator finds own faults in bank's demise
(DBN)

Top think-tank warns ‘insolvent banks lurking in the system’ as 200 US lenders face risks
(DBN)

Regional Banks Will Cut Bonuses While Big Firms Raise Incentive Pay
(DBN)

Banks tighten standards in first quarter and expect trend to continue, Fed survey finds
(DBN)

PFF: More Banks May Fail And Bring Preferred Equities Along With Them
(DBN)

Regional bank rebound stalls on Monday as PacWest gives back much of its early trading gains
(DBN)

Short Sellers Tightened Grip on Regional Banks in Runup to Rout
(DBN)

PacWest stock jumps after lender says it’s ‘fundamentally sound’ but will slash dividend to a penny a share
(DBN)

Concern over banking crisis reaches levels unseen since 2008 — Poll
(DBN)

____________

Crypto:

Indicted FTX founder Sam Bankman-Fried urges court to toss charges
(DBN)

Private-Equity Giant Apollo Is Part of a Bid to Buy Bankrupt Crypto Firm Celsius
(DBN)

Bittrex Goes Bankrupt with US Treasury Its Largest Creditor U.S. Crypto Exchange Bittrex Files for Bankruptcy in Delaware Bittrex Files For Bankruptcy After SEC Charges — This US Authority Tops Creditor List With $24.2M Claim Bittrex Files For Bankruptcy Following SEC Charges; Will Continue Serving Non-US Clients Bittrex Files For Bankruptcy With Up To $1 Billion In Liabilities
(DBN)

‘Unjustly enriched’ — Core Scientific knocks back $4.7M claim from Celsius
(DBN)

Government and Tencent-backed Aussie blockchain firm collapses
(DBN)

____________

Fraud:

JPMorgan Ordered to Pay Charlie Javice’s Legal Fees in Frank Fraud Case
(DBN)

____________

Autos:

The Longest-Lasting Car on the American Road
(DBN)

____________

Defaults:

Corporate defaults are at their highest level in years, and it's poised to get even worse. Here are the 5 biggest players who went broke in March.
(DBN)

____________

Sports:

Diamond Sports Illustrates Evolving Issues of Bankruptcy Law & Sports Broadcasting Rights
(DBN)

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Video Games:

Nintendo Switch sales plunge 22% and the gaming giant expects further declines
(DBN)

____________

 


New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (24 new filings today)
(DBN)

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

Bankruptcy Code (html) - Bankruptcy Code (pdf) Prior BK Codes (pick year from list) - Bankruptcy Rules
(large downloads)

UCLA-LoPucki Bankruptcy Research Database
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

April adds 54 more US corporate bankruptcies; 2023 filings highest since 2010
(DBN)

BK WD NY: Updated Filing Statistics
(DBN)

______________

Mass Torts:

Oakland Catholic Diocese Latest to File Bankruptcy to Settle Abuse Suits Catholic diocese in Oakland files for bankruptcy in the face of decades-old sex abuse claims Diocese of Oakland files for Chapter 11 bankruptcy Diocese of Oakland files for bankruptcy after over 330 child sexual abuse lawsuits Oakland 2nd California diocese to seek bankruptcy over abuse Oakland diocese files for bankruptcy amid abuse lawsuits, Bishop Michael Barber responds to priest allegations
(DBN)

____________

Aviation:

Biden pushing airlines to go beyond refunds for delayed or canceled flights
(DBN)

Indian airline Go First seeks urgent bankruptcy protection, lessors step up pressure Tata and IndiGo Prepare to Swoop on Go Air’s Aviation Assets Go First's bankruptcy has fueled mass resignations and higher air fares Go Air Asked to Stop Ticket Sales as Flying Permit Under Review Govt bailout not possible unless engine issue is resolved, says minister Go First Bankruptcy: Airlines And The Undercapitalisation Challenge
(DBN)

____________

Healthcare:

In the Post-Roe Era, Letting Pregnant Patients Get Sicker—by Design
(DBN)

Stressed out and burned out: Nurses demand change
(DBN)

____________

Education:

Tenn. teen pepper-sprays teacher after he confiscated her phone
(DBN)

____________

Student Debt:

Parents Paying Down Student Debt Worry How They’ll Send Kids to College
(DBN)

GOP states trying to stop Biden's student loan forgiveness push their own relief programs
(DBN)

____________

Medical Equipment:

Invacare completes restructuring, emerges from Chapter 11
(DBN)

____________

Media:

Newly-Released Texts Reveal Carlson Wanted to Leave Fox 'Wish I Knew Where to Run' Brett Favre calls for Fox News boycott over Carlson exit
(DBN)

____________

Celebs:

RHOA star Sheree Whitfield’s new man Martell Holt filed for bankruptcy in 2020 and said he owed creditors ‘up to $10M’
(DBN)

Inside 30 Years of Former NFL Player Kenny Hansmire’s Troubled Businesses
(DBN)

____________

Personal Finance:

I won the biggest ever lottery jackpot in my state but had to declare bankruptcy just a few years later
(DBN)

____________

Construction:

Defunct Katerra sues more former execs
(DBN)

____________

Tech:

Fakes and lies will destroy society, warns former top spy
(DBN)

In global rush to regulate AI, Europe set to be trailblazer
(DBN)

____________

UK:

UK police express 'regret' after arrests of anti-monarchists
(DBN)

____________

Canada:

Documents reveal inside look as Alberta officials prepared for a 'landslide' of orphan wells
(DBN)

____________

Russia:

The Russian military is trying to recruit Central Asian migrant workers to fight in Ukraine to avoid another mandatory mobilization, UK intel says
(DBN)

Russia launches new wave of drone, missile attacks in Ukraine
(DBN)

Russia's Wagner group appears to do U-turn on Bakhmut withdrawal
(DBN)

The West's uphill battle to sanction Russian diamonds
(DBN)

McConnell Predicts Congress Will Keep Funding Ukraine’s Defense
(DBN)

EU Targets Russian Oil Transfers At Sea in Sanctions Enforcement
(DBN)

EU Proposes Curbs on Several Chinese Firms for Aiding Russia
(DBN)

Ukraine Should Get Concrete Path to Join NATO, Estonia Says
(DBN)

Russia Is Trying to Erase Ukrainian Identity in Areas It Occupies
(DBN)

Oligarch criticizes 'terrible' war
(DBN)

Ukraine's defense minister is worried the West will get cold feet if Kyiv's much-expected counterattack is a flop
(DBN)

Ukrainians with cellphones and machine guns are forcing Russia to change how it launches its drone attacks
(DBN)

US to provide Ukraine $1.2 billion in long-term security aid
(DBN)

American extremists linked to Russian sites
(DBN)

____________

Finland:

Bankruptcy rates on the rise in Finland
(DBN)

____________

Hong Kong:

Petition barred - Hong Kong CFA confirms primacy of exclusive jurisdiction clause in bankruptcy
(DBN)

Availability of bankruptcy and insolvency relief in the case of exclusive jurisdiction clauses and disputed debts
(DBN)

____________

Turkey:

'We can't afford anything': Cost-of-living crisis threatens Erdogan
(DBN)

____________

India:

Centre to come up with creditor-led insolvency resolution framework: Report
(DBN)

India Is Home to 169 Billionaires, But These Children Still Forage Through Trash
(DBN)

____________

Singapore:

Property-related foreclosures not rising at an alarming pace; bankruptcy applications ticking up
(DBN)

____________

MENA:

Israeli strikes on Gaza kill 13, including several civilians and 3 senior militants
(DBN)

____________

Sweden:

Swedish Home Construction Set to Plummet This Year, Nordea Says
(DBN)

Swedish Landlord SBB Slumps to Five-Year Low as Dividend Halted
(DBN)

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