November 2, 2023

The Daily Bankruptcy News

View prior editions: Click Here
View prior case summaries: Click Here
Search prior headlines: Click here
Search prior case summaries: Click here

Format For Mobile Device



Law:

Stroock Working On Wind Down, Trying To Keep Firm Out Of Bankruptcy • Bankruptcy Option Won't Be 'Pretty' For Stroock • Stroock’s Demise Foretold by Partner Exits, Pension Problems • Stroock Partners’ Profits on Line in Delicate Wind-Down Process
(DBN)

These States Are Leading The Charge For An Updated Bar Exam • 5 jurisdictions commit to using NextGen bar exam
(DBN)

Blank Rome Expands Finance, Restructuring & Bankruptcy Group
(DBN)

Nutter Strengthens its Business Practices With Addition of Bankruptcy and Tax Partners
(DBN)

First responders used Narcan on napping lawyer and restrained him as he struggled, suit says
(DBN)

‘Bump’ operation led to phone calls, restaurant meeting, jurors told in trial for murder of law prof Markel
(DBN)

Biglaw Firm Adds Donald Trump As Client... Rest Of The Firm May Not Be Too Happy About It
(DBN)

Disbarred Attorney Uses Fake ID To Score Better Job Than You
(DBN)

This Fictional Attorney Laterals With The Best Of Them
(DBN)

Lawyers Should Act Like Emails Between Counsel Will Be Made Public
(DBN)

Will Biglaw Silos Become A Thing Of The Past?
(DBN)

If Trump Wins, His Allies Want Lawyers Who Will Bless a More Radical Agenda
(DBN)

Trump Codefendants Demand To See Nuclear Secrets Their Boss Stole
(DBN)

14th Amendment applies to presidents, expert argues at Trump’s Colorado disqualification trial • Judge denies motion to dismiss Trump’s Colorado 14th Amendment case
(DBN)

Harvard Law Professor Torches Donald Trump's Latest Legal Claim With 1 Word
(DBN)

Trump tells judge in fraud case to leave his children alone • Ivanka Trump appeals court order compelling her to testify in father's civil fraud trial • Trump Org’s false financial statements cost banks $168M in interest: NY AG financial expert • Trump: Judge in fraud trial ‘crazy, totally unhinged, and dangerous’ • Transformed Trump family will take center stage in New York courtroom • Everything Donald Trump Jr. Couldn't Remember During Testimony • Relaxed Trump Jr cracks jokes in courtroom debut • Jr.'s Conveniently Fuzzy Memory During Fraud Testimony • Donald Trump Jr. says he played minor role in company finances
(DBN)

Florida judge to hold hearing over scheduling in Trump classified docs trial • Judge signals she may postpone Trump’s trial in Mar-a-Lago classified documents case • Mar-a-Lago judge hammers 'almost blithe' Jack Smith arguments while messing up on her own
(DBN)

Dominion Voting Systems and Sidney Powell are now brawling over 'document dumps'
(DBN)

Man charged over threats to Georgia DA who’s prosecuting Trump, says FBI
(DBN)

Giuliani should be worried about RICO, other charges, Ellis lawyer says
(DBN)

Federal prosecutor raises alarm about Chinese election interference
(DBN)

Who is Cornell student Patrick Dai accused of violent threats against Jews
(DBN)

Displays supporting hostages damaged, Holocaust survivor’s home graffitied among incidents of antisemitism across US
(DBN)

Migrant caravan headed north swells by a thousand people in 24 hours to 7,000 people as Chinese influencers are showing migrants how to cross US southern border
(DBN)

9th Circuit allows challenge to law banning abortions based on genetic abnormality
(DBN)

Sheriff bragged about nurse's false child porn arrest, broadcasted name, address: Lawsuit
(DBN)

2 teens accused of spraying wrong home with 100 bullets, killing innocent woman
(DBN)

Would-be killer turned off power to neighbor's home to lure her out for shooting: Deputies
(DBN)

Newspaper publisher, reporter arrested for leaking grand jury information: Cops
(DBN)

______________

Judges:

Jackson Walker faces call to disgorge $800K fee after judge's resignation
(DBN)

Supreme Court appears inclined to refuse ‘Trump too small’ trademark • Supreme Court justices finally find a way to agree in ‘Trump too small’ trademark case
(DBN)

DA tried to use judge's divorce to remove him from failed Barry Morphew case: Complaint
(DBN)

______________

Wall Street:

Stock futures tick higher as Treasury yields fall on bets the Fed is done raising rates
(DBN)

Dow records best three-day gain since April after Fed keeps interest rate steady
(DBN)

The US stock market is almost 5x larger than the next biggest market
(DBN)

______________

Layoffs:

The biggest winners — and losers — in the coming AI job apocalypse
(DBN)

Condé Nast, Publisher of Vogue, Will Cut 5% of Its Work Force
(DBN)

Charles Schwab Fires 2,000 Employees
(DBN)

Deloitte Announces 800 Job Cuts
(DBN)

Delta lays off some corporate workers to cut costs
(DBN)

Prudential to Cut Senior Leader Positions Amid Cost-Cutting Push
(DBN)

Informatica Cuts Staff by 10%
(DBN)

Union Pacific announces management layoffs
(DBN)

Panera to Lay Off 17% of Corporate Staff
(DBN)

Splunk to Lay Off 7% of Workforce
(DBN)

Lumen announces 1,200 layoffs
(DBN)

______________

 

Finance:

SBA expands its primary business loan program
(DBN)

____________

Social Media:

Amy Schumer, Jason Biggs among celebs calling on TikTok to do more to combat ‘rampant antisemitism’
(DBN)

____________

Education:

UPenn president launches plan to fight antisemitism after backlash
(DBN)

Largest Christian university in US fined record amount
(DBN)

____________

Celebs:

Elon Musk Makes Cringeworthy ‘Hummus’ Joke to Joe Rogan While Discussing Gaza Bombing: ‘Chickpeas!’
(DBN)

____________

Banking:

Swiss National Bank Chairman defends handling of Credit Suisse crisis
(DBN)

____________

Brands:

Bankrupt and loving it: Welcome to the lucrative world of undead brands
(DBN)

____________

Autos:

Lordstown Motors gets OK from federal bankruptcy judge on next step in reorganization
(DBN)

Vehicles Sales decrease to 15.5 million SAAR in October; Up 6% YoY
(DBN)

____________

Tech:

The race is on to bring AI to weather forecasting
(DBN)

Harris unveils steps to curb AI risks • Existential Harm From A.I.? It’s Already Here, Says Harris.
(DBN)

US and China join global leaders to lay out need for AI rulemaking • Global Leaders Warn A.I. Could Cause ‘Catastrophic’ Harm
(DBN)

AI anxiety as computers get super smart
(DBN)

AI better than biopsy at assessing some cancers, study finds
(DBN)

The people who ruined the internet
(DBN)

____________

Fraud:

October 2023 Ponzi Scheme Roundup
(DBN)

____________

History:

Centuries after witch trials, Mass. group seeks to clear nearly 200 names
(DBN)

____________

Labor:

UAW's hidden victory: Job security in the electric car era
(DBN)

Toyota Raises Factory Pay 9% to Ward Off Union
(DBN)

____________


Economy:

Household child care costs have spiked more than 30% since 2019
(DBN)

US consumer confidence dropped for third consecutive month despite the booming economy
(DBN)

FOMC Statement: No Change to Rates • Fed holds off on rate hike for second straight meeting • Why a Fed rate pause won’t give Biden a break • Fed leaves US rates unchanged but ‘long way to go’ in inflation battle
(DBN)

DoubleLine’s Gundlach says interest rates are going to fall as recession arrives early 2024
(DBN)

Treasury details plans to step up size of bond sales to manage growing debt load and higher rates
(DBN)

U.S. fiscal deficit a ‘more serious problem than ever before,’ says Larry Summers
(DBN)

ISM® Manufacturing index Decreased to 46.7% in October
(DBN)

BLS: Job Openings "Little Changed" at 9.6 million in September • U.S. job openings rise slightly to 9.6 million, sign of continued strength in the job market
(DBN)

ADP: Private Employment Increased 113,000 in October
(DBN)

Drought Saps the Panama Canal, Disrupting Global Trade
(DBN)

Texas is second-hungriest state in nation, USDA says
(DBN)

87% Want Social Security Trust Fixed Now
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

The commercial real estate market is frozen as soaring bond yields bring lending to a halt
(DBN)

Manhattan Office Leasing Ticks Up 58% in October
(DBN)

The $1.8 billion verdict that could lower home prices
(DBN)

Inflation Adjusted House Prices 3.1% Below Peak; Price-to-rent index is 7.0% below recent peak
(DBN)

MBA: Mortgage Applications Decreased in Weekly Survey
(DBN)

Construction Spending Increased 0.4% in September
(DBN)

Big landlords are colluding to raise rents, D.C. lawsuit alleges
(DBN)

WeWork reportedly prepares for bankruptcy • WeWork bankruptcy: One of the biggest startup failures of all time, and venture capitalists haven't learned a thing • Impending WeWork bankruptcy will be 'very painful' for New York landlords • WeWork’s Potential Bankruptcy: How Franchisees Are Shielding Themselves • WeWork to start closing some offices around the world • WeWork bankruptcy likely to come ‘sooner than later,’ says Creditsafe • WeWork Stock Plunges as Bankruptcy Fears Mount • WeWork Grapples with Bankruptcy: A Stunning Fall from Grace
(DBN)

Florida official says insurance costs are driving out some homeowners
(DBN)

____________

Municipalities:

These 3 cities lead the post-pandemic downtown recovery race
(DBN)

____________

Oil/Gas:

Shell posts $6.2 billion third-quarter profit, announces $3.5 billion share buyback
(DBN)

Schumer leads 23 senators in demanding FTC probe of oil industry mergers
(DBN)

____________

Crypto:

Sam Bankman-Fried lied under oath to shape his story around ex-friends who testified against him, prosecutors say in scathing closing argument
(DBN)

Sam Bankman-Fried Built FTX on a ‘Pyramid of Deceit,’ Prosecutor Says
(DBN)

Sam Bankman-Fried on Verge of Tears as His Lawyer Concludes Defense
(DBN)

Sam Bankman-Fried’s fraud trial testimony: six key takeaways
(DBN)

Sam Bankman-Fried lawyer says government portrayed FTX founder as a ‘monster’
(DBN)

Sam Bankman-Fried Sealed His Fate Long Before the FTX Trial
(DBN)

A Year After Sam Bankman-Fried's Downfall, Solana and Other FTX Holdings Are Flying High
(DBN)

The basketball star, the Crypto King and the $8.4M mansion
(DBN)

____________

Entertainment:

What the heck is happening at Disney
(DBN)

____________

Religion:

Pope Francis calls for ‘paradigm shift’ in theology for world of today
(DBN)

____________

Distressed Investing:

Another Brick in the (Maturity) Wall
(DBN)

____________

Politics:

Republicans' plan to fund Israel by cutting IRS spending would cost taxpayers billions and add to the national deficit • Republicans' IRS Plan Backfires • Speaker Johnson tells Senate GOP that Israel money must move by itself • Senate GOP divided over Speaker Johnson’s Israel gambit • House GOP's Israel aid bill adds $26.8 billion to the deficit, budget office says
(DBN)

Before he became a politician, House Speaker Mike Johnson partnered with an anti-gay conversion therapy group • What’s Up With Mike Johnson’s Very Shady-Seeming Financial Disclosures? • Does New Speaker of the House Mike Johnson Have a Bank Account? • Mike Johnson kicks off his new job with stunt politics • Why Speaker Johnson says America is not a democracy
(DBN)

GOP sets political trap for Democrats with Israel bill
(DBN)

Unlikeliest Of Heroes Josh Hawley Takes On Mitch McConnell To Get Big Corporate Money Out Of Politics • McConnell bluntly warns GOP senators not to back Hawley bill
(DBN)

Ocasio Cortez rips pro-Israel group as ‘extremist organization’
(DBN)

‘Squad’ members face Democratic primary challenges over Israel stances
(DBN)

John Fetterman faces a left-wing backlash over his Israel stance. He isn't budging.
(DBN)

Biden Found Even Modest Israel-Palestinian Peace Steps Impossible
(DBN)

President facing tough questions over Israel’s strikes on civilians
(DBN)

Sanders, Warren write to Biden with ‘serious concern’ about Israel’s invasion of Gaza
(DBN)

Neo-Nazis and the Far-Right Are Trying to Hijack Pro-Palestine Protests
(DBN)

Open hatred of Jews surges globally, inflamed by Gaza war • From boycotts to firebombs, Israel-Gaza war brings wave of antisemitism
(DBN)

Ohio abortion measure sparks early voting surge
(DBN)

Rep. Ken Buck won’t run for reelection, criticizing GOP’s election denialism • GOP Rep Torches Party on His Way Out the Door: ‘We Lost Our Way’
(DBN)

Schumer, Tuberville duel over stalled military nominees • ‘This is outrageous’: Pentagon officials furious over Tuberville holds after top Marine hospitalized • Chuck Schumer presses forward with top military nominees amid Tommy Tuberville's blockade • Senate Republicans erupt in anger over Tuberville's military freeze • GOP senators try to bust Tuberville's military blockade
(DBN)

Biden faces growing concerns among independent voters
(DBN)

The Democrats' quiet campaign to succeed Biden
(DBN)

Joe Biden received $40K in 'laundered China money' from brother in 2017, Comer says
(DBN)

Trump confuses world leader’s country in latest gaffe
(DBN)

Republicans claw back control of elections in key states
(DBN)

Haley surges into second place in SC • Mega-donor Adelson meets with Haley
(DBN)

Dozens of bird names to change in purge of former enslavers, racists
(DBN)

Lose by less: Biden tries to stanch Democratic losses in rural America
(DBN)

RFK Jr.’s donor data reveals his 2024 threat • Poll: RFK Jr. Receives 22% As Independent Candidate In 3-Way Race
(DBN)

House Gets 2nd Chance to Expel George Santos, With Floor Vote Expected • George Santos easily survives House expulsion vote • George Santos finds unlikely protectors in House Democrats
(DBN)

House rejects effort to censure Tlaib
(DBN)

____________

Trucking:

Bankruptcy, Lawsuit Shake Up Logistics Landscape
(DBN)

What the 'Great Trucking Recession' is warning us about the economy
(DBN)

____________

 
New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (25 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (6 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

Bankruptcy filings spike in first 3 quarters of 2023
(DBN)

Bankruptcy filings in Puerto Rico up 68% Y-O-Y in October
(DBN)

October Commercial Chapter 11 Filings Increased 106 Percent over 2022
(DBN)

A Look Into 2023: What do the Bankruptcy Statistics Really Mean?
(DBN)

______________

Mass Torts:

Time to Ditch the Texas Two-Step for a New Mass Tort Strategy
(DBN)

Baltimore archdiocese lists diamonds, emeralds and gold among treasure chest of assets in bankruptcy
(DBN)

Boy Scouts victims may lose out on funds over 'quick pay' deadline
(DBN)

____________

Aviation:

Low-cost transatlantic airline Norse admits it's in financial difficulty
(DBN)

GoFirst may lose its planes and engines
(DBN)

Former Delta pilot indicted for allegedly threatening co-pilot with gun during flight • Can pilots carry guns on board? Delta flight raises questions.
(DBN)

JetBlue's future is on the line in Spirit Airlines court case
(DBN)

India insolvency law change on leased aircraft would have to apply retrospectively: DGCA
(DBN)

No Nation in the World Is Buying More Planes Than India. Here’s Why.
(DBN)

____________

Personal Finance:

DoorDash warns customers that orders without a tip may take longer to deliver
(DBN)

____________

Ride Hailing:

Uber, Lyft to pay $328 million to settle wage-theft allegations in New York state
(DBN)

____________

Healthcare:

Court will rule on U. of Iowa's winning bid for bankrupt hospital
(DBN)

Tennessee families, doctor ask Supreme Court to block state’s gender-affirming health care ban
(DBN)

New lung cancer screening guidelines include heavy smokers who quit long ago
(DBN)

The Supreme Court Must Resolve the Transgender Health-Care Battle
(DBN)

____________

Climate:

Acapulco Saw the Future of Hurricanes: More Sudden and Furious
(DBN)

Major wind energy developer scraps two major offshore projects
(DBN)

Researchers argue that reducing greenhouse gas emissions is not enough to combat climate change
(DBN)

____________

Private Equity:

Private Equity Makes Loan Payments With More Debt to Keep Cash
(DBN)

____________

Sovereigns:

The Brave New World of Sovereign Debt Restructuring: The ‘China Conundrum’ and Other Challenges
(DBN)

____________

UK:

One in 10 county councils facing effective bankruptcy
(DBN)

Are UK Administrators Criminally Liable For Failing to File a HR1?
(DBN)

Russia to Face $60B UK Trial Over Unpaid Yukos Award
(DBN)

Boris Johnson asked scientists if COVID could be killed by hairdryer up nose, ex-aide claims
(DBN)

____________

EU:

The Weil European Distress Index
(DBN)

____________

MENA:

Foreigners, wounded Palestinians allowed to leave Gaza for first time since war began • Americans among those departing Gaza, White House confirms • Hundreds of Gazans and foreign nationals leave besieged enclave • Fierce fighting in Gaza as more civilians set to leave • Another wave of Israeli strikes hit Gaza refugee camp as crossing opens for foreigners and wounded • Israel leans into World War II rhetoric to justify Gaza war • Israel confirms the deaths of 15 soldiers in the ground invasion as its troops press into Gaza • Innocent faces of 32 children held in tunnels by Hamas as distraught parents plead with terror group to release them • Members of Israel’s Knesset Left ‘In Tears And Shock’ After Viewing IDF Video Of Hamas Atrocities • 'We will repeat October 7 again and again' - Hamas official • Amid Israel-Hamas war, some Palestinians rage against another target: Their own rulers • Hostages in mind, Israel moves slowly in Gaza ground offensive
(DBN)

To be pro-Palestinian, you must be anti-Hamas
(DBN)

Settler violence has been forcing Palestinians out of the West Bank and turning the area into a ‘Wild West,’ rights group says
(DBN)

Key US ally in Middle East pulls ambassador from Israel in protest of Gaza war
(DBN)

After Years of Vowing to Destroy Israel, Iran Faces a Dilemma
(DBN)

Latin America's Leftist Leaders Recall Israel Ambassadors Over Its War With Hamas
(DBN)

Yemen's Houthis target Israel with batch of drones -group's military spokesperson
(DBN)

UN Alarmed As Mideast War Intensifies
(DBN)

U.S. discussing peacekeeping force for Gaza after Hamas falls, senators say • Blinken to visit Israel on Friday, says ‘revitalized’ PA should govern Gaza after war
(DBN)

How Telegram Became a Terrifying Weapon in the Israel-Hamas War
(DBN)

Hundreds of thousands of Afghan migrants face deportation from Pakistan in widespread crackdown
(DBN)

Dubai homes worth US$844 million in new project sell out in hours
(DBN)

Dubai debtors who prove inability to pay could avoid imprisonment
(DBN)

____________

China:

Evergrande proposes offshore creditors get 30% equity stake in subsidiaries
(DBN)

China sends dozens of military aircraft, ships near Taiwan
(DBN)

Philippines Exits China's Belt & Road
(DBN)

____________

Russia:

Poll: U.S. public's support for Ukraine begins to wane
(DBN)

Passengers on flight from Tel Aviv to Russia hid in terminal amid rioting: ambassador
(DBN)

What is Russia's stance on the Israel-Hamas war?
(DBN)

Putin Signs Law Revoking Nuclear Test Ban Treaty Ratification
(DBN)

____________

Mexico:

The Republicans Who Want to Invade Mexico
(DBN)

Armed residents guard streets in Mexico's hurricane-hit Acapulco
(DBN)

____________

Brazil:

Bolsonaro Again Ruled Ineligible to Hold Office by Brazil Court
(DBN)

____________

Singapore:

Bankruptcy Regime Administered by Private Trustees in Bankruptcy in Effect from 1 November 2023
(DBN)

____________

India:

IBBI proposes amendments to norms to streamline corporate resolution process
(DBN)

Lenders fear taxmen will eat into recovery pie
(DBN)

Supreme Court Divided Over Government's Position As Secured Creditor
(DBN)

____________

France:

French Economy Slows Nearly to a Halt as Exports Slump - WSJ
(DBN)

____________


The Daily Bankruptcy News is primarily a curated news link gathering service.   Most of the headlines contained in the publication are a collection of links to stories posted on the Internet by various third party publications.  Such content is owned by third party sources, not The Daily Bankruptcy News, and in some cases, these links change or expire, which means you may not be able to view some news stories in prior editions of the Daily Bankruptcy News. The DBN subptption fee is not a fee for access to the content of the links, but is a charge for the considerable work involved in gathering, organizing and presenting the links. Use of this site and The Daily Bankruptcy News is subject to our Terms of Use. If you received The Daily Bankruptcy News via email (and you have a paid subscription account), to view a news story, click on the headline, and the story should open in your web browser. To view additional stories, click back to the email and click on additional headlines, which will cause new stories to open in your web browser.  You can view the most recent edition of The Daily Bankruptcy News on the web at BKInformation.com.

Advertising
Advertising is available in The Daily Bankruptcy News. Click here for details  Feel free to contact us with any questions.

Passwords/Subscriptions
Access to certain links in The Daily Bankruptcy News is available only to readers holding a paid service subscription. These links are currently marked with a "DBN" notation. The cost of a subscription is $74.00/year, payable annually.  Volume discounts are available for sites with multiple users. Click here to see a schedule of discounts. Complimentary subscriptions are available for full-time educational and governmental employees and for full time students. For information about discounts or educational/governmental subscriptions, contact us by clicking here. A separate password is required for each member of a firm wishing access to restricted links.

New readers can receive a free password good for 30 days by clicking here. 30-day passwords are not available to readers who have previously had a password, even if the password was associated with a different email address used by the reader. Refunds are not available after purchase.

Readers who wish to change their passwords should click here. Readers who have forgotten their password should click here.

Adding Your Email Address To The Distribution List
If you would like to start receiving The Daily Bankruptcy News by email each day, click here, and fill in the information requested. There is no charge to be placed on the distribution list to receive the headlines, although access to many of the links behind the headlines requires a paid subscription (see above, under Passwords). If, after adding your email address to the distribution list, you do not receive an email confirming the addition, please contact us by clicking here for help.

Removing Your Email Address From The Distribution List
If you already receive The Daily Bankruptcy News by email and you wish to remove your email address from the distribution list, click here and send the email that should appear. You do not need to type anything in the body of the email message. Note that the email asking for removal must be sent from the same email address which is on our distribution list. If you do not receive an email confirming deletion of your email address from the distribution list, contact us by clicking here for help.

If receive the publication forwarded from an older email address, you will need to contact us as described below for help removing that older address from our distribution list.

Press Releases/News Tips
Please send press releases and news tips to admin@bkinformation.com

Contact Us
The Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C. You can phone or text us at 281-402-3957. You can email us at accounting@bkinformation.com (email inquiries are usually answered substantially more quickly than phone inquiries). Our mailing address is 935 Eldridge Road, No. 350, Sugar Land, Texas 77478.
Copyright 2023