November 9, 2023

The Daily Bankruptcy News

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Due to the Veternas Day holiday, The Daily Bankruptcy News will not publish on Friday, November 10, 2023



Law:

Milbank Raises Associate Salaries, Kicks Off Bonus Season
(DBN)

Law firms slow hiring to curb expenses: Thomson Reuters law firm financial index
(DBN)

Senior Associates In High Demand Amid Staffing 'Scramble'
(DBN)

73 Percent Of Lawyers Expect To Be Using Generative AI Next Year... But To Do What Exactly?
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AI improves legal writing speed, not quality: Report
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Nixon Peabody Partners Meet Over Repping Donald Trump, Managing Partner Called On To Step Down Some Clients Aren't Worth The Risk For Biglaw... And, Yes, We Mean Donald Trump
(DBN)

Why Cravath has joined ‘two-tier partner wave’
(DBN)

Wachtell Names New Leaders William Savitt and Andrew Nussbaum
(DBN)

Hogan Lovells Confirms 28 Partners Joining From Failed Stroock
(DBN)

Polsinelli defendant ‘vehemently denies’ sex harassment after another ‘strongly denies’ such conduct
(DBN)

Partner ‘Struck Fear Into The Heart’ Of Junior Attorney With Obsessive Behavior And Upskirt Photos
(DBN)

Oregon approves alternative to bar exam
(DBN)

Taking The Bar Exam Is Not Strictly Necessary
(DBN)

$225,000 Punitive Damages Award Upheld Where Creditor Repeatedly Contacted Customer After Being Notified of Attorney Representation
(DBN)

Charlie Adelson's Deadly Plot to Murder His Sister's Ex-Husband — The Full Story
(DBN)

Law grad turns culinary passion into TikTok fame and a brand-new cookbook
(DBN)

New York Public Defender Resigns After Being Caught On Camera Tearing Down Posters Of Israeli War Hostages
(DBN)

Minnesota Supreme Court dismisses 'insurrection clause' challenge
(DBN)

Ivanka Trump testifies in $250 million civil fraud trial after ex-president’s angry appearance Ivanka Trump testifies she wasn’t involved in documents central to her father’s civil fraud trial Trump's daughter worried he was not wealthy enough, emails in NY fraud trial show Says 'I Don't Recall' 30+ Times Why 'I don't recall' is a common strategy on the stand Ivanka Trump proposed lowering net worth requirement for Trump loan Ivanka Trump court sketch baffles fans‘Trump is toast’: Ex-Watergate prosecutor predicts outcome of civil fraud trial Ivanka Trump testifies she had no role in crafting her father's financial statements Outcome of Trump’s fraud trial could have ‘seismic’ impact on his business State Rests Its Case in Trump Civil Fraud Trial
(DBN)

What Trump’s volatile courtroom conduct means for his future criminal trials
(DBN)

Trump lawyers decry gag order in appellate brief, say speech aimed at witnesses is allowed
(DBN)

Donald Trump and Sam Bankman-Fried Pulled the Same Trial Tricks
(DBN)

New Jack Smith filing shows he's ready to hammer Trump for inciting Jan. 6 riot
(DBN)

Trump ally Bannon to ask court to overturn contempt of US Congress conviction
(DBN)

Lawyer Lin Wood asks Supreme Court to undo sanction over 2020 US election case
(DBN)

Court Orders Trump To Say Whether He Plans To Blame Coup Plot On His Hapless Lawyers Trump must tell court when he will invoke potentially risky, delay-ridden defense strategy 'Put up or shut up': Judge Chutkan order to Trump praised by legal experts
(DBN)

House Oversight Committee subpoenas James and Hunter Biden
(DBN)

Hunter Biden files defamation suit against Overstock.com’s former CEO
(DBN)

Colorado funeral home owner, wife, arrested on charges linked to the handling of at least 189 bodies
(DBN)

Gambino family Mafia crackdown: 16 arrests by New York feds and Italian authorities
(DBN)

Ban on assault weapons and high-capacity magazines likely constitutional, 7th Circuit says
(DBN)

DOJ announces arrests in ‘high-end brothel network’ used by elected officials, military officers and others
(DBN)

Costa Rica, Honduras and Mexico have started busing migrants north to move them on, sparking fears Biden's record-breaking border crisis will get even worse
(DBN)

A former Fox News correspondent is refusing to reveal a source. Her fate is now in a judge’s hands
(DBN)

Grand jury doesn't indict man who allegedly 'sat on' girlfriend's head and broke her neck
(DBN)

Four LA police officials found dead in 24-hour period in apparent suicides
(DBN)

7 Nashville police employees placed on leave as department probes school shooter's leaked writings
(DBN)

Cops announce arrest of suspect who allegedly stabbed synagogue board president to death
(DBN)

Courts force people to download Covenant Eyes, the porn blocker used by Mike Johnson. Even the app's CEO says they shouldn't.
(DBN)

Mayo doc poisons wife, then removes photos of her before girlfriend comes over: Cops
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Judges:

U.S. Bankruptcy Judge Vacancy, Southern District of Texas at Houston
(DBN)

Vacancy Announcement - Term Law Clerk Augusta, GA
(DBN)

Democratic plan to subpoena Supreme Court justices’ allies faces pushback US Senate Democrats to vote on Supreme Court ethics probe subpoenas Democrats Plan to Subpoena Harlan Crow and Other Wealthy Supreme Court Donors
(DBN)

US judiciary estimates it can operate for 3 weeks post-shutdown
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Wall Street:

S&P 500 futures rise after index posts longest win streak in 2 years
(DBN)

ExxonMobil passed Tesla as the most shorted stock last month. Here are the 10 names investors are betting against the most.
(DBN)

Stocks look pricey, the economy is showing cracks, and the Fed is an enemy to markets, says deputy chief investor of a $96 billion money manager
(DBN)

These 8 days explain the stock market's gains this year - and show there are just 4 factors driving the moves
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Layoffs:

Travis Kalanick's $15 billion ghost kitchen company lays off staff
(DBN)

Virgin Galactic laying off 18%
(DBN)

Acutus Medical is laying off more than half of its workers
(DBN)

Dish Network to lay off more than 500
(DBN)

Xcel Energy announces layoffs impacting 150
(DBN)

Sleep Number cuts 500
(DBN)

Oportun will lay off 185
(DBN)

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Pageants:

Miss Universe owner JKN files for debt rescue
(DBN)

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Trucking:

Pressure grows on US Treasury to salvage trucking giant Yellow The Delicate Balance: Government Intervention, Market Dynamics, and Industry Stability
(DBN)

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Food/Beverage:

A third Burger King franchisee declares bankruptcy
(DBN)

Restaurants Bet Ozempic Will Make Diners Buy More Salads, Pitas
(DBN)

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Software:

Bankrupt Slync Has ‘Several’ Parties Interested in IP Asset Auction
(DBN)

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Student Debt:

Who will have to pay their student loans? Biden's panel wrestles with debt forgiveness
(DBN)

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Distressed Investing:

Distressed M&A
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Climate:

People linked to fossil fuels permeate climate talks, have big influence, according to AP analysis
(DBN)

EU scientists say 2023 ‘virtually certain’ to be warmest year on record
(DBN)

US Solar to Generate More Electricity Than Hydropower
(DBN)

‘No One Is Safe From Climate Change’ After Hottest 12 Months Ever Recorded
(DBN)

West Desperately Needs Nuclear Power, Says Citadel’s Griffin
(DBN)

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Economy:

What it would cost to stabilize the soaring national debt
(DBN)

Fed official: Union wins show labor market still running hot
(DBN)

Fed’s Powell warns market must be flexible with forecasts, ‘dynamic’ economy
(DBN)

Ranking the biggest winners, and losers, in the current economy
(DBN)

Americans say the economy stinks. But they’re spending like it’s great
(DBN)

The share of Americans with debt in collections is at historic lows
(DBN)

US Economy Scores Low on New Index Measuring Nation’s Well-Being
(DBN)

Gen Zers are saying 'no thanks' to promotions for reasons that go beyond money
(DBN)

Black workers could be disproportionately harmed by AI in the workplace, a study says. They are feeling the heat — and trying to fix it.
(DBN)

Mike Johnson's 10-day shutdown test House Republicans don't want a shutdown, but there's still no plan Speaker Mike Johnson Has No Plan With Time Running Out to Avoid US Shutdown
(DBN)

'Bond King' Jeff Gundlach warns of 'exploding' US debt expenses and a recession coming within the next year. Here's his 6 best quotes from a recent interview
(DBN)

Over 1 in 4 Americans will be Latino by 2060, Census projects
(DBN)

US Population Will Start Shrinking By 2100, Says Census Bureau
(DBN)

Here’s how many people moved from California to Texas just last year
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US Debt Clock
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World Debt Clock
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How People Really Live
(DBN)

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Real Estate:

WE Why bankruptcy won't spell the end for WeWork Landlords Saw WeWork Bankruptcy Coming We should all have the confidence of WeWork's bankruptcy WeWork seeks permission to begin canceling leases in bankruptcy WeWork Creditors Brace for Losses as Bankruptcy Case Starts WeWork’s Bankruptcy Tests Claims of a Co-Working Revolution WeWork urges landlords to negotiate in bankruptcy announcement WeWork’s Bankruptcy: A Cautionary Tale of Overhyped Expectations and Unchecked Expansion SoftBank books $5.2 billion quarterly loss as WeWork comes back to bite Billions destroyed: How it all fell apart at WeWork WeWork founder Adam Neumann is still worth $1.7 billion even after the company’s stunning bankruptcy WeWork’s Bankruptcy and the Enduring Wealth of Adam Neumann: A Detailed Analysis There's a new theory that Adam Neumann will buy back WeWork SoftBank paid WeWork lenders almost $1.5bn before bankruptcy filing SoftBank's $16B WeWork investment is dubbed one of the worst venture capital bets in history Chicago Firm Nearly Tops List Of Unpaid Creditors As WeWork Bankruptcy Unfolds Judge orders WeWork to cough up financial records related to broken lease at NYC skycraper WeWork to ditch seven office leases in Bay Area This Time, WeWork Failed Like a Regular Ol’ Company A former Blackstone exec wants to salvage WeWork from bankruptcy
(DBN)

The fall of WeWork shows the deepening cracks in real estate WeWork’s Bankruptcy Complicates Office Outlook
(DBN)

Housing: Inventory will Tell the Tale
(DBN)

Mortgage rates register sharpest drop in over a year amid signs of a weakening U.S. economy
(DBN)

An Airbnb 'tenant from hell' who stayed at a California rental for 570 days without paying has finally left the property
(DBN)

The best evidence yet that banning Airbnbs will make rent go down
(DBN)

Lumber Prices Down Slightly YoY
(DBN)

Septuagenarian tenant murdered his 2 female landlords during dispute over repairs: Police
(DBN)

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Municipalities:

Extreme Measures: How Puerto Rico’s Bankruptcy Caused a Radical Change to Its Public Pension Retirement Systems
(DBN)

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Oil/Gas:

‘We need everything’: CEO on why natural gas infrastructure needs to be ready for clean hydrogen
(DBN)

Electric-Vehicle Market's Surge Toward $57 Trillion Sparks Global Flashpoints
(DBN)

US Gas Consumption to Fall in 2024
(DBN)

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Tech:

X staff almost asked police to carry out a wellness check on Elon Musk after he once locked himself in his office, author says
(DBN)

Amazon is reportedly racing to build an AI model called Olympus to take on ChatGPT and Bard
(DBN)

Mark Zuckerberg personally rejected Meta’s proposals to improve teen mental health, court documents allege
(DBN)

What AI architects fear most: Undetectable fake images
(DBN)

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Banking:

US bank stocks hit all-time low relative to the S&P 500 as bond crash weakens balance sheets
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Religion:

Archbishop Accused of Lengthy Affair Sues Over His Stingy Severance
(DBN)

Vatican says trans Catholics can be baptised
(DBN)

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Utilities:

Nation at risk of winter blackouts as power grid remains under strain
(DBN)

It's been 5 years since California's deadliest wildfire. Can we stop it from happening again?
(DBN)

$150 Million Fund Is Established For Families Of Maui Wildfire Victims Who Don't Sue
(DBN)

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Politics:

Highlights from the third Republican Debate: Ramaswamy, Haley and DeSantis spar over Trump, abortion and the economy As he enters third debate, Ron DeSantis has a big Nikki Haley problem 'You're Just Scum!' Haley Slams Ramaswamy, Warns Him to 'Leave My Daughter Out of Your Voice!' Foreign policy, abortion and personal attacks: Top takeaways from the GOP debate The war for second place got hot, but the third GOP debate didn't dent Trump Fact-checking the third Republican primary debate A day after election losses, GOP candidates gloss over struggles on abortion policy at the debate GOP candidates split over raising Social Security retirement age in presidential debate
(DBN)

The New House Speaker Has No Bank Account, Achieving Both Views And Finances From The 1800s
(DBN)

Republicans approved a bill cutting Transportation Secretary Pete Buttigieg's salary to just $1
(DBN)

Moms for Liberty Tank on Election Day
(DBN)

Abortion rights win big in 2023 off-year elections Democrats won big on abortion rights Tuesday. Here’s what the results say for the US going into 2024 How Ohio’s special election predicted the future of abortion in the state
(DBN)

Bemoaning Ohio results, Santorum says ‘pure democracies’ aren’t how to run a country
(DBN)

Biden is the problem Joe support down sharply among CA voters for first time in presidency Haley deadlocked with Biden
(DBN)

New Jersey Democrats notch big legislative wins after bracing for losses 6 takeaways from New Jersey Democrats' unexpected big night Trucker who stunned New Jersey ousted after 1 term
(DBN)

Daniel Cameron Lost Kentucky Election Because He Sold ‘His Soul’ to Trump, Chris Christie Tells CNN: ‘Huge Mistake’ Gov. Beshear says KY reelection shows Dems can win anywhere Beshear targets McConnell, Paul after win: ‘We beat ’em’ Republican Russell Coleman wins the Kentucky AG race Beshear’s win in Kentucky shows, once more, Democrats aren’t extinct in Trump states
(DBN)

The candidates, especially women, who made history on Election Day ‘A game-changer’: After 100 election cycles, Philly puts a woman in the mayor’s office
(DBN)

‘Is the fat lady warming up? Yes’: Trump chokes off his rivals’ last lines of attack
(DBN)

Ron DeSantis' biggest donor considers abandoning him for Trump
(DBN)

Biden adviser-turned-ambassador opens up on ‘scary’ 2024 polling
(DBN)

Trump widens lead over Biden in new CNN poll
(DBN)

Roseanne goes off the rails at Trump rally
(DBN)

House Democrat pulls resolution to censure GOP Rep. Mast
(DBN)

22 Democrats vote to censure Tlaib over Israel criticism
(DBN)

Tuberville, GOP struggle to break blockade on military promotions
(DBN)

NBC’s partner for GOP debate is Salem, promoter of 2020 election denial
(DBN)

Doug Emhoff is Battling a Growing Tide of Anti-Semitism. His Daughter is Fomenting It.
(DBN)

Inside the angst and anxiety gripping the White House over the Israel-Hamas war
(DBN)

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Insurance:

Vesttoo says value can be recovered as it & creditors object to US Trustee move
(DBN)

Arrowood Indemnity Company Declared Insolvent
(DBN)

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New Bankruptcy Opinions
(6 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (26 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (1 new filing today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

US corporate bankruptcies slow in October; number of large filings rises
(DBN)

US corporate bankruptcies at highest level since 2020, WeWork joins the list
(DBN)

WeWork's bankruptcy is the beginning of a broader collapse in zombie companies, Wall Street veteran says WeWork’s Bankruptcy: A Harbinger of Looming Corporate Bankruptcies
(DBN)

The coming wave of business bankruptcies
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Bankruptcy Research:

The Changing Face of Chapter 11 Bankruptcy: Insights from Recent Trends and Research
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Make-Whole:

It's Ultra-Complicated: Fifth Circuit and Delaware Bankruptcy Court Decisions Widen Rifts on Make-Whole Premiums and Postpetition Interest
(DBN)

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Jurisdiction:

The Administrative State in Bankruptcy
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D&O:

FTX Legal Drama Includes D&O Coverage Fight (Now Withdrawn, but Not Forgotten)
(DBN)

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Interest:

Fifth Circuit Holds that Post-Judgment Interest is Required in Adversary Proceeding Under 28 U.S.C. § 1961(a)
(DBN)

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Aviation:

Go First lenders to challenge move that could let lessors reclaim planes
(DBN)

Scandinavian Airlines in Financial Turmoil: Defaults on Crucial Bridge Financing Agreement
(DBN)

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Fraud:

Should my Company Self-Disclose Major Fraud? The Answer is Now Clear
(DBN)

Martin Shkreli says he had a great time in prison and got spaghetti and sauce smuggled in for meals with his mob boss pal
(DBN)

Phony billionaire rabbi astrologer sentenced to prison for scamming widow
(DBN)

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Labor:

Actors Make a Deal With Studios After 118 Days
(DBN)

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Cannabis:

Record 7 in 10 support legalized marijuana: Gallup
(DBN)

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Corporate Reform:

Federal regulators take new aim at private equity and hedge funds
(DBN)

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Personal Finance:

What Makes Harrisburg, PA, the Best Place to Retire 2024 Best Places to Retire in the U.S.
(DBN)

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Media:

Fox News launches vertical focusing on antisemitism
(DBN)

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Ride Hailing:

General Motors’ autonomous vehicle unit recalls cars for software update after dragging a pedestrian
(DBN)

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Healthcare:

Trustee: Mercy Iowa City attorney fees ‘shock the conscious’
(DBN)

Bay Area reinstates COVID mask orders in healthcare settings. Will L.A. follow?
(DBN)

Cops Find Crystal Meth in Florida Surgeon’s Backpack Before Operation on Patient
(DBN)

FDA approves weight loss drug from Eli Lilly that helped people lose up to 52 pounds
(DBN)

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Maritime:

Container Shipping Bracing for Downturn, Hapag-Lloyd Chief Says
(DBN)

Panama Canal Queue Jumper Pays Record $4 Million to Skip Line
(DBN)

Canastras buy vessels, permits from Blue Harvest bankruptcy
(DBN)

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Crypto:

SEC Chair Gensler says rebooted FTX run by ex-NYSE chief is possible if done ‘within the law’
(DBN)

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UK:

“WeWork is here to stay” – coworking firm reassures UK tenants despite bankruptcy
(DBN)

Insolvency activity up by 8% in North West as firms bank on Xmas trade
(DBN)

More Buy-to-Let Borrowers Are Struggling After UK Rate Rises
(DBN)

London Rental Demand Declines as Tenants Struggle to Pay Rent
(DBN)

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EU:

Comparative Corporate Insolvency Law, Second Edition
(DBN)

ECB Won’t Hike Rates Again, Barring Shocks, Villeroy Says
(DBN)

ECB Rate-Cut Talk Is ‘Clearly Premature,’ Guindos Tells Finance
(DBN)

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MENA:

Israel faces a daunting fight in Gaza City 50,000 flee Gaza City as Israel battles Hamas Israel reports 10-hour battle at Hamas 'stronghold' as evacuation resumes Israel fights deep in Gaza, talks over release of up to 15 hostages ‘Nothing is left’: Thousands of Palestinians flee south as Israel steps up Gaza City offensive Controversy surrounds reports of Israeli baby found burned alive in oven Israel’s Archaeologists Are Helping Locate Those Killed by Hamas G7 nations call for ‘humanitarian pauses’ to speed aid to Gaza Hamas reveals its plan for 'permanent war with Israel' A broken Netanyahu is miscalculating over Gaza, former Israeli PM says Bodycam reveals how Hamas terrorists used IDF uniform disguise to slaughter and snatch civilians Blinken calls for united Palestinian government for Gaza and West Bank after war ends
(DBN)

Massive surge in the buying of Israel Bonds from the United States
(DBN)

Israel targets military sites in Southern Syria
(DBN)

US Carries Out Strike on Weapons Depot in Syria
(DBN)

India bars protests that support the Palestinians
(DBN)

Mossad helps Brazil arrest Hezbollah-linked terrorists planning attack on Jews
(DBN)

DeSantis claims Hamas would have taken more hostages if Florida hadn't sent flights
(DBN)

Divisions over US support for Israel deepen at State Department
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Russia:

‘If Not Me, Who?’: As Ukraine Seeks Troops, Women Prepare for the Call
(DBN)

As war frustrations rise, stalemate tests Zelensky and top general Zaluzhny Zelenskiy Aides Deny Split With General Over Stalemate Warning
(DBN)

Kremlin fury as Russia AI chatbot makes nude pics of Putin
(DBN)

Vivek Calls Ukraine's Jewish President a 'Nazi'
(DBN)

Ukraine hails ‘historic step’ as European Union takes Kyiv closer to membership
(DBN)

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China:

Default and Bankruptcy Resolution in China
(DBN)

China stocks flat as consumer prices contract; Country Garden shares slump
(DBN)

Ping An Slump Shows Why a Country Garden Deal Would Be Dangerous
(DBN)

Hostility toward the U.S. in China has dropped sharply, new poll shows
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India:

Supreme Court upholds validity of key provisions of Insolvency and Bankruptcy Code
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