October 12, 2023

The Daily Bankruptcy News

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Law:

Most BigLaw associates won’t stay at firms, new survey shows
(DBN)

Less than half of lawyers satisfied with work-life balance, study finds
(DBN)

Tesla shareholder lawyers defend $229 million fee bid in board pay case
(DBN)

Affirmative Action Opponent Drops Case Over Law Firm's Diversity Fellowship
(DBN)

Nosy Firm Loses 6 Figures For Dropbox Snooping
(DBN)

Florida lawyer dies in skydiving incident
(DBN)

Restaurant recording allowed in dentist’s trial for allegedly ordering murder of law prof Dan Markel
(DBN)

Louisiana Lawyer Gets In Trouble Over Less Than Legal Side Gig
(DBN)

Harvard students scramble to take back support for letter attacking Israel as some CEOs look to blacklist them Harvard Ignites Backlash Over Delayed Response to Hamas Attack on Israel
(DBN)

Winston & Strawn rescinds NYU law student’s job offer over ‘inflammatory’ Israel comments
(DBN)

Law Student Studying Abroad In Israel Decides To Stay In War Zone And Assist Relief Efforts
(DBN)

Cameras, cops and paranoia: How Amazon's surveillance network alters L.A. neighborhoods
(DBN)

Law Student/Son Of Buc-ee's Co-Founder Accused Of Secretly Filming In Bathrooms
(DBN)

North Carolina family, doctor sue to block state’s gender-affirming health care ban
(DBN)

Trump wants to subpoena 'missing' Jan. 6 committee records in election interference case
(DBN)

Deutsche Bank Knew Trump Was Inflating Worth
(DBN)

Trump Has The Right To Remain Silent. And So Does His Lawyer.
(DBN)

Trump claims the insurrection clause does not apply to the president
(DBN)

Hunter Biden judge agrees to drop old gun count
(DBN)

Alex Jones Might Just Make An Appearance In The Georgia Election Interference Trial Judge compels Alex Jones and GOP Chair Ronna McDaniel to testify in RICO case
(DBN)

Rudy Giuliani Hit With $550K Tax Lien
(DBN)

Judge Disputes 'Undisputed' Allegations In Peter Navarro's Motion For New Trial
(DBN)

Tuberville reports former CIA director Hayden to Capitol Police over tweet
(DBN)

'Killer clown' stalking village weeks before Halloween leaving residents terrified
(DBN)

California's ban on high-capacity gun magazines can remain in effect, court rules
(DBN)

'Laughably absurd': Judge slams court for giving California 'blank check' to ban guns
(DBN)

U.S. judge upholds suspension of right to carry guns in some New Mexico parks
(DBN)

California man in health crisis dies in jail cell after being left unattended for 3 days, family says
(DBN)

Atlanta deacon who died after police stunned him pleaded 'I can't breathe,' family says
(DBN)

Video shows LAPD cops ignoring robbery call to play Pokémon Go
(DBN)

Missing ex-NFL player Sergio Brown arrested, faces murder charge in death of mother
(DBN)

Gabby Petito and Brian Laundrie's parents meet face-to-face for first time since her murder
(DBN)

Woman accused of murdering cyclist before fleeing the country tries to escape again
(DBN)

Texas gun store employee faces murder case for shooting fleeing shoplifter in the back
(DBN)

Man 'upset' family wouldn't pay for GPS ankle monitor removal beat mom with pool cue: Cops
(DBN)

TikTok video mishap with rifle leaves 19-year-old woman dead
(DBN)

Mystery surrounds death of young woman found burned alive with a large knife near her body
(DBN)

Morgan State University plans to build a wall around campus after shooting
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Judges:

Texas bankruptcy judge questioned over relationship with local lawyer Texas Judge with Role in STX Asbestos Case Faces Suit, Questions Over Romantic Ties
(DBN)

We Don’t Talk About Leonard: The Man Behind the Right’s Supreme Court Supermajority
(DBN)

Supreme Court skeptical of South Carolina racial gerrymandering claim Supreme Court Suggests Support for GOP-Drawn Congressional Map The Supreme Court appears determined to make it easy to draw gerrymanders
(DBN)

Impeachment threats. Removal from office. Extremists want to retain power in Wisconsin.
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Wall Street:

Stock futures rise as Wall Street awaits key inflation data
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S&P 500 rises as traders look ahead to key U.S. inflation report
(DBN)

Wall Street Is Marking Up Forecasts in Sign Profit Slump Is Likely Over
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Layoffs:

Biogen lays off staffers at newly acquired Reata, with 113 set to lose positions
(DBN)

Newport Island Harbor Resort Hotel on Goat Island Files for 136 Layoffs
(DBN)

Accenture to slash hundreds of jobs in Austin
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Entertainment:

Now What? The Five Crises Confronting a Post-Strike Hollywood
(DBN)

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Politics:

Scalise secures GOP Speaker nomination Steve Scalise's fate is uncertain after GOP speaker nomination Jim Jordan offers to nominate Steve Scalise for speaker on House floor Greene, Boebert among pro-Jordan holdouts despite Scalise nomination The sexual abuse scandal that haunts Trump’s pick for House speaker House Republicans Try to Pick Speaker With ‘2%’ Chance of Quick Choice Republican Divisions Threaten Scalise’s Ascent to House Speaker Scalise risks ruining his speakership before he wins it
(DBN)

How Congress stumbled on the worst combination of representative government
(DBN)

Mace wears red letter ‘A’ after McCarthy vote
(DBN)

U.S. Grapples With Political Gridlock as Crises Mount
(DBN)

US Support For Israel, Ukraine 'Top Priorities': Yellen
(DBN)

Biden Denounces Efforts to Justify Hamas Attack in Fiery Speech
(DBN)

White House plans to put Ukraine, Taiwan and border funding in its Israel request
(DBN)

Trump as Jesus? Why he casts himself as a martyr, and why fans go along
(DBN)

Trump dips into internet conspiracy theories with his latest lines about Obama
(DBN)

The Senate is a problem in the Israel crisis. Democrats are fed up.
(DBN)

GOP lawmaker launches outburst at Israel briefers Biden officials' Israel briefing rankles House Republicans White House scant on details of ‘very small’ number of American hostages caught in Israel-Hamas war
(DBN)

Dems Try to Nip Glenn Youngkin’s Political Future in the Bud
(DBN)

Why Elvis’s cousin has Mississippi all shook up Democrat raises more funds than GOP incumbent in Mississippi governor’s race
(DBN)

New York’s first-term GOP reps will move to expel Santos after new charges Defiant Santos brushes off new charges 'I will NOT take plea deal' George Santos Says He Won’t Resign and Will Run Again After New Indictment
(DBN)

Democrats see warning signs with Black voters in Louisiana governor’s race
(DBN)

GOP legislator admits to voter fraud, paid $5 a month for a 5x5 area he claimed to reside
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Corporate Reform:

Financial institutions refunding $140M in ‘junk fees,’ consumer watchdog says
(DBN)

FTC proposes new rule to ban junk fees
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Banking:

These regional banks are at risk of being booted from the S&P 500
(DBN)

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Consumer Finance:

Lawmakers take aim at credit card interest rates, fees as cardholder debt tops $1 trillion
(DBN)

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Economy:

FOMC Minutes: "Majority of participants judged that one more increase in the target federal funds rate ... would likely be appropriate" Fed Minutes Flag High Rates for ‘Some Time’ While Risks Shift Fed officials see ‘restrictive’ policy staying in place until inflation eases, minutes show
(DBN)

US wholesale inflation rises 2.2% in September Wholesale inflation rose 0.5% in September, more than expected
(DBN)

Bostic Doesn’t See More Fed Hikes, Unless Inflation’s Descent Stalls
(DBN)

Accelerating US Core Inflation Set to Muddy Rate Picture for Fed
(DBN)

Waller Says Fed Can ‘Watch and See’ as Financial Markets Tighten
(DBN)

The Federal Deficit Is Even Bigger Than It Looks
(DBN)

Corporate America faces a trillion-dollar debt reckoning
(DBN)

Used Car and Airline Prices Signal Inflation Is Here to Stay
(DBN)

US Producer Prices Rise by More Than Forecast on Gasoline Jump
(DBN)

Most say businesses impact peoples’ lives positively: Gallup
(DBN)

Trump demands ‘full apology’ from Forbes after dropping off wealthiest Americans list
(DBN)

Most US Households Will Pay Less for Heat This Winter, EIA Says
(DBN)

The next Social Security payment bump is about to become clear
(DBN)

US Debt Clock
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World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

MBA: Mortgage Applications Increased in Weekly Survey
(DBN)

2nd Look at Local Housing Markets in September
(DBN)

In wildfire-prone areas, homeowners are learning they’re uninsurable
(DBN)

Office vacancies are higher in Texas than in California or New York
(DBN)

The Californization of the Texas Housing Market
(DBN)

Bair: The Housing Market Looks Like a Bubble
(DBN)

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Municipalities:

Puerto Rico Oversight Board seeks dismissal of PREPA appeal
(DBN)

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Oil/Gas:

OPEC’s Greatest Opponent Is Disappearing, Shale CEO Warns
(DBN)

Oil Price Drop Reflects Demand Destruction, IEA Says
(DBN)

IEA Warns of Increased Risk to Oil Markets Amid Israel Conflict
(DBN)

Shale Boss Warns of Oil-Market Peril If Iran Is Swept Into War
(DBN)

Exxon to buy Pioneer for $59.5B, reshaping U.S. oil industry Exxon’s Historic Shale Deal Signals New Wave of Oil Mergers Pioneer's mega-sale to Exxon will trigger $71 mln in exec Pioneer’s Sheffield Caps Career With $151 Million Exxon Payday
(DBN)

Stockholm City Center to Ban Gas Cars by 2025
(DBN)

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Tech:

EU warns Musk that X spreading ‘illegal content’ after Hamas attacks on Israel Musk’s X Rebuffs Accusations of Israel-Hamas War Disinformation A group of 67 X accounts spread coordinated disinformation about Israel-Hamas war, says research group Social media is awash in misinformation about Israel-Gaza war, but Musk’s X is the most egregious
(DBN)

A Graphic Hamas Video Donald Trump Jr. Shared on X Is Actually Real, Research Confirms
(DBN)

US Space Force Pauses Generative AI Use Based on Security Concerns
(DBN)

We’re in a new Gilded Age. What did we learn from the last one?
(DBN)

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Crypto:

Caroline Ellison, star witness in Bankman-Fried trial, recounts living in 'a constant state of dread' Sam Bankman-Fried's CEO ex testifies that he said morals 'don't lie,' 'don't steal' don't matter to him The Revenge of Caroline Ellison, Part 2: ‘$150 Million for the Thing’ Former Alameda Research CEO Reveals Billions in Hidden Losses FTX founder Sam Bankman-Fried didn't think rules applied to him, ex-girlfriend says Bankman-Fried was very concerned about his image, including big hair, ex-girlfriend Ellison says Ellison Told to Prepare 7 Balance Sheets by SBF Inside FTX’s Financial Misconduct: Allison Ellison Unveils Billion-Dollar Fraud Caroline Ellison said SBF considered raising money from Saudi crown prince to repay FTX customers Tearful Caroline Ellison calls FTX collapse a 'relief' at Sam Bankman-Fried trial She's the star witness against Sam Bankman-Fried. Her testimony was explosive Caroline Ellison to face cross-examination at Sam Bankman-Fried's trial
(DBN)

Firm tried a lawyer, Thai prostitutes and a bribe to get frozen funds unlocked, per witness
(DBN)

FTX and Alameda Had a Lot of Issues -- Including a Stark Gender Pay Gap
(DBN)

Someone stole more than 400 million FTX on the night of the bankruptcy
(DBN)

Coinbase’s Quarterly Crypto Trading Volume Likely Lowest Since Before Public Debut
(DBN)

Senators Urge IRS to Speed Up Plan to Snag Crypto Tax Cheats
(DBN)

WOO Network Buys Back Shares and Tokens From Bankrupt Three Arrows Capital
(DBN)

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Sports:

MLB Says Time's Up For Diamond and Bally Sports: They Need to 'Come Up With a Viable Plan or Liquidate,' Baseball Tells Bankruptcy Court Tired of Playing Waiting Game, MLB Declares Time’s Up in RSN Fight
(DBN)

Diamond demanding DirecTV pay for unaired Diamondbacks and Padres games
(DBN)

DSG Bankruptcy Woes Deepen With DirecTV Fee Dispute Diamond Demands Full Fees From DirecTV as RSN Model Crumbles
(DBN)

The NFL's Most Valuable Player Makes Less Than $1 Million
(DBN)

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Education:

ACT test scores fall to lowest levels in 32 years
(DBN)

A mother said an educator “infected” her teenager with lies about gender. “I lost my son,” she told the school board. Her child tells a different story
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Agribusiness:

Wendy’s Looks to Move Lettuce Into Greenhouses Due to Climate Change
(DBN)

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Healthcare:

Preston Hollow wins bid for Mercy Iowa City Mercy Iowa City bought in bankruptcy auction by Texas-based finance company
(DBN)

Bankrupt Envision Healthcare approved to split in two, cut debt
(DBN)

Creditor plans to take over 4 CT surgical centers in bankruptcy
(DBN)

The search for Martin General Hospital provider continues, county now has control of hospital
(DBN)

No End in Sight for Ozempic-Fueled Drop in Medical-Device Stocks
(DBN)

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Retailing:

Is Big Lots Inc. ($BIG) in BIG Trouble?
(DBN)

Rite Aid Looked to Offload Hundreds of Store Leases Even Before Considering Bankruptcy
(DBN)

Financial guidance site puts Hudson-based JoAnn Inc. on watchlist for bankruptcy risk
(DBN)

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Fraud:

F1 Mogul Ecclestone Pleads Guilty to £400 Million Fraud Charge
(DBN)

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Student Debt:

Large-scale student loan debt forgiveness likely off the table in President Biden's Plan B
(DBN)

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Prisons:

Prison Magnate Loses House in Bankruptcy Proceedings
(DBN)

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Tax:

Microsoft discloses IRS says the tech giant owes nearly $29 billion in unpaid taxes
(DBN)

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New Bankruptcy Opinions
(2 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (15 new filings today)
(DBN)

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

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

U.S. corporate bankruptcies accelerate in third quarter as 2023 rivals 2020 as worst year in more than a decade Corporate Bankruptcies Are Piling Up at Worst Pace Since 2020
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Litigation Finance:

As US bankruptcy filings increase, legal finance is set to play an important role
(DBN)

Argentina Appeals $16 Billion Verdict in Litigation-Funded Case
(DBN)

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Bankruptcy Alternatives:

Delaware ABCs (Assignments for the Benefit of Creditors): No Longer as Easy as 1-2-3
(DBN)

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Aviation:

How a Series of Air Traffic Control Lapses Nearly Killed 131 People
(DBN)

Delta Air Lines profit jumps almost 60% after strong summer
(DBN)

Air Canada grounds pilot behind antisemitic social media posts: 'Burn in hell'
(DBN)

British Airways Halts Tel Aviv Service After Flight Turns Back
(DBN)

Brink’s Sues Air Canada After $17 Million Heist of Gold and Cash
(DBN)

Jindal Power only player in fray for grounded GoAir Who Is Naveen Jindal? The Only Billionaire Interested In Buying Bankrupt Go First Airline
(DBN)

Wadia Group stays away from Go First insolvency process
(DBN)

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SCOTUS:

SCOTUS asked to consider standing to raise mass tort confirmation objection
(DBN)

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Social Media:

Bang Energy founder ordered to pay $63,000 over Instagram 'rant'
(DBN)

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Climate:

World "less likely than ever" to meet Paris Agreement goal: new analysis
(DBN)

DOJ sues eBay for selling ‘rolling coal’ devices; fines could hit $2 billion
(DBN)

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Labor:

Detroit automakers, union spar over 4,800 layoffs
(DBN)

UAW Expands Strike to Highly Profitable Ford Truck Plant
(DBN)

Hollywood Studios, Striking Actors in Standoff as Talks Crumble
(DBN)

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Negotiation:

Transform your negotiations with a ‘win-win-win’ mindset, says author
(DBN)

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Cannabis:

Bankruptcy court refuses to dismiss marijuana industry debtor Chapter 11 case
(DBN)

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Sovereigns:

IMF Talks on Debt Deadlock Stuck Between China, Private Lenders
(DBN)

Sri Lanka, China Agree to Restructure $4.2 Billion of Debt
(DBN)

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UK:

KPMG Fined a Record £21 Million Over Carillion Audit Scandal
(DBN)

London councils warn of financial ‘knife edge’ as overspends grow
(DBN)

'Derelict eyesore' all that's left of failed £150m Woking railway arch-widening project
(DBN)

Stubbornly High Interest Rates Risk Squeezing the Life Out of UK Companies
(DBN)

Funeral plan provider that collapsed last year leaving thousands with worthless arrangements is investigated by the Serious Fraud Office
(DBN)

UK Banks Set to Restrict Mortgage Supply After Defaults Rise
(DBN)

UK Energy Debt Jumps to Record £2.6 Billion as Crisis Mounts
(DBN)

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MENA:

Netanyahu and Gantz agree to form emergency Israel government Blinken Says He’s Bringing Israel Message That US Has Its Back Hollywood’s Ari Emanuel Says Israel’s Netanyahu Needs to Go 7 big questions about the Israel-Hamas war, answered Egypt warned Israel days before Hamas struck, US committee chairman says Hamas, the militant group that attacked Israel, explained Israelis urged to shelter after reports of ‘hostile aircraft’ entering from Lebanon Israel Reports Airspace Breach in North, Then Says False Alarm Israel's Prime Target Is Secretive Hamas Commander Israel Targets All Hamas Leaders Across Gaza in Fresh War Effort Israel Ups the Ante, Vows to Wipe Hamas ‘Off Face of the Earth’ Time is Running Out at Gaza Hospitals More Than 338,000 Displaced in Gaza Gaza Residents: We are Not Hamas Israel’s pledge to eliminate Hamas raises fears of what lies ahead Sanders calls Israel's siege on Gaza 'a serious violation of international law' Israel says no humanitarian break to Gaza siege unless hostages are freed Palestinians scramble for safety as Israel pounds sealed-off Gaza Strip to punish Hamas Gaza hostages may be hidden in secret tunnels or buried alive…it’s a nightmare scenario for Israeli rescue, expert warns Heroic Israeli paramedic died saving others inside clinic raided by Hamas The faces of Israeli child hostages in Hamas slaughter: 'Don't take me, I'm too young' Families of loved ones taken by Hamas share their horrific stories Rocket slams into Israeli children's hospital and supermarket in new wave of strikes from Gaza Arab World Shows Support for Palestinians As Israel Bombards Gaza, Fears of Humanitarian Disaster Mount - WSJ Gaza to plunge into blackout as power plant runs out of fuel ahead of Israel invasion to flatten ‘Nest of Terror’ Egypt discusses Gaza aid, rejects corridors for civilians, sources say Israel says fighting will intensify; Gaza's sole power plant shuts down Large-scale ground assault in Gaza ‘expected soon,’ former US ambassador says The IDF says it has struck 450 targets in Gaza since yesterday, as more Israeli troops amass at the border More Than 2,000 Dead, US Sends Ammunition Pro-Hamas hackers send fake rocket alerts, knock websites offline 22 US citizens confirmed killed in Israel-Hamas war Bodies of victims still strewn across kibbutz once home to 700 Swiss Government Backs Labeling Hamas as Terrorist Organization Tensions rise on college campuses as students react to Israel-Hamas war 9 UN staffers killed in airstrikes in Gaza Death toll rises in Israel and Gaza as fighting rages: What to know U.S. concerned about fresh risks to American troops in the Middle East amid Israel crisis Dozens injured after stampede at University of Florida vigil for Israel US Raises Travel Advisory Level on Israel Over Threat of Attacks Israeli official says government cannot confirm babies were beheaded in Hamas attack
(DBN)

Early Intelligence Shows Iranian Leaders Surprised by Hamas Attack, U.S. Says Israeli diplomat draws ‘clear link’ to Iran in Hamas attacks Trump joins GOP calls for Biden to freeze $6B transfer in Iranian funds U.S. investigating whether Iran gave advanced training to Hamas militants Yellen Says US Is Not Ruling Out New Iran Sanctions McConnell and Cotton introduce bill to freeze $6B in Iran funds
(DBN)

From 1947 to 2023: Retracing the complex, tragic Israeli-Palestinian conflict
(DBN)

Moody’s Says Prolonged Conflict to Test Israel’s Credit Profile
(DBN)

Israelis who want to flee to the U.S. ask why visa-free travel won't start until November
(DBN)

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Russia:

U.S. Announces New Military Aid for Ukraine as Obstacles Mount
(DBN)

Zelensky asks to visit Israel in show of solidarity
(DBN)

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China:

Top court increases legal protections for firms
(DBN)

China's real estate struggles could threaten global economic growth
(DBN)

China property creditors face worsening restructuring terms as sector recovery hopes sour
(DBN)

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Germany:

Germany is not the ‘sick man of Europe’ – but this year isn’t looking good, central bank president says
(DBN)

German anti-racism body quits over 'rise in hate speech'
(DBN)

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Singapore:

Byju’s Lenders Move to Put Unit in Receivership After Default
(DBN)

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Malaysia:

Goldman Sachs Sues Malaysia as 1MDB Settlement Dispute Escalates Goldman Sachs and its role in the multi-billion dollar 1MDB scandal
(DBN)

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Venezuela:

Debt Holders File to Validate Agreement to Pause Venezuelan Default Claims
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