October 26, 2023

The Daily Bankruptcy News

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Law:

Law Firm Failures Aren’t Career Enders That Many Lawyers Fear
(DBN)

There’s an ‘urgent need’ to support female lawyers with children, new ABA report shows
(DBN)

Fired BigLaw associate alleges evaluation was defamatory, detractors caused emotional distress
(DBN)

Kirkland & Ellis, Jackson Walker Continue Debtor-Side Dominance in Strong Q3 for Big Bankruptcy
(DBN)

Paul Weiss Could Adopt Nonequity Partner Tier in 2024
(DBN)

Law Firms Need To Stop Suing Associates For Not Hitting Their Billable Hours
(DBN)

Partners Should Make It Easier For Associates To Bill Hours
(DBN)

Ex-Girardi Keese Lawyer Says He Did All He Could to Help Victims
(DBN)

Proskauer Nearing Settlement with Ex-COO in Trade Secrets Suit
(DBN)

Porter Hedges Taps Houston Partner, Diversity Leader as Co-Managing Partner
(DBN)

Top Georgia court tosses ethics case against lawyer who alleges racial bias in discipline
(DBN)

Company’s ‘bad faith’ coin stunt leads to judgment for attorney fees
(DBN)

For-Profit Law Schools Are A Quickly Dying Breed, And Soon, Only One Will Be Left Standing
(DBN)

Lawyer’s antisemitic rant leads to ouster from bar post and government job
(DBN)

Cold Reality: BTK fight between Oklahoma sheriff and district attorney goes to court
(DBN)

Biglaw Partner To Serve As Referee At Rugby World Cup Final
(DBN)

Trump aims to discredit Michael Cohen as ex-lawyer testifies in New York fraud trial Fireworks in court as Trump team calls Cohen a liar Cohen testifies Trump ballooned assets as cross-examination scrutinizes his credibility Trump’s Revenge: Former President's Lawyers Go After Michael Cohen for Perjury 'Why are you screaming at me?' Cohen asks attorney Trump glowers as Cohen dishes Trump's lawyer whines about being disrespected — the fraud trial courtroom 'snickers' Trump lawyer complains of 'eye-rolling' and 'whispering' during Michael Cohen cross-exam Court clerk in Trump case is asked to stop rolling her eyes Trump leaves courtroom in a huff after Cohen contradicts testimony in New York fraud trial
(DBN)

Trump says he doesn’t think Meadows would take immunity deal ‘after being hounded like a dog’ Christie: Trump should be ‘desperately worried’ after Meadows granted immunity
(DBN)

Donald Trump’s 2020 Cronies Appear to Be Ditching Him One by One
(DBN)

Judge in NY fraud trial threatens Trump with sanctions again, saying the ex-president's latest comments were a 'blatant' violation of the gag order NY judge suggests Trump again violated gag order: ‘I don’t want anybody killed’ Trump hit with fine after violating gag order for second time Trump takes the witness stand in New York fraud trial, fined $10K for violating gag order Legal analyst explains why Trump fine is 'very unusual' Trump's own testimony leads to another hefty fine for violating gag order in fraud case
(DBN)

ACLU sides with Trump over Jan. 6 criminal case gag order: Report
(DBN)

Federal prosecutors argue against delaying Trump gag order and oppose effort to subpoena ‘missing’ Jan. 6 records
(DBN)

The Unfiltered Truth Behind The 3 MAGA Lawyers Who Flipped On Trump Trump's ex-lawyers become prosecutors’ star witnesses Trump Lawyers Finally Released the Kraken...On Him Pleas in Trump’s Georgia Racketeering Case Show ‘Dam Breaking’ 'Weaklings and cowards': Trump lashes out against witnesses taking deals from prosecutors From Trump loyalists to state witnesses: The evolution of 3 ex-members of Trump's legal team Why Are Lawyers Among First to Plead Guilty in Election-Meddling Case?
(DBN)

Eastman Disputes Facts Underpinning Charges in State Bar Trial
(DBN)

Trump Threatens Political Foes That Retribution is Coming When ‘We Assume Office’ in Stunning Social Post
(DBN)

Donald Trump's 'Witness Tampering' Could Land Him in Hot Water
(DBN)

Biden faces lose-lose scenario with rising Cuban migration Nicaragua is allowing hundreds of flights from Haiti, Cuba in push to use immigration against US, expert say
(DBN)

FBI received 'criminal information' from over 40 confidential sources on Joe Biden, Hunter, James: Grassley
(DBN)

No, Hamas and Hezbollah Are Not Sending Fighters Across the Southern Border
(DBN)

In Texas, local governments are banning travel aid for abortions
(DBN)

Son of Nashville police chief wanted in the shooting of 2 officers is found dead, officials say
(DBN)

At least 15 killed, up to 50 injured in shootings in Lewiston, Maine At least 22 dead as manhunt intensifies for person of interest Robert Card Slaughter at Bowling Alley Law enforcement officials in Maine say person of interest is a certified firearms instructor and member of the US Army Reserves
(DBN)

Murder charge reinstated against Philadelphia police officer who shot Eddie Irizarry in his car
(DBN)

ADL reports surge in antisemitic incidents amid Israel-Hamas war ADL says antisemitic cases have surged since Oct. 7 Hamas attack
(DBN)

Unmasking Texas Neo-Nazis
(DBN)

A mother reported her son missing in March. Police kept the truth from her for months.
(DBN)

USPS touts crackdown on postal crime, carrier robberies, with hundreds of arrests
(DBN)

Son indicted for murder 6 years after father's disappearance despite no body being found
(DBN)

Mother-daughter duo tried to cover up hit-and-run by dusting car engine in moose fur: Cops
(DBN)

Teens accused of killing retired police chief appear to smirk at victim's widow, daughter
(DBN)

BMW driver who 'lost control' before deaths of 4 college seniors now faces murder case
(DBN)

Air Force police open fire on driver attempting to run gate of Texas base
(DBN)

Passing Out Tents Is Adams’s Possible Next Step in New York Migrant Crisis - WSJ
(DBN)

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Judges:

BK MN: Judicial Law Clerk Opening to U.S. Bankruptcy Judge William J. Fisher
(DBN)

Justice Thomas’s R.V. Loan Was Forgiven, Senate Inquiry Finds So Clarence Thomas Didn't Pay for His RV?
(DBN)

MAGA Judge Says It's A First Amendment Right To Hock Anti-Abortion Snake Oil
(DBN)

US judge, scholars urge Supreme Court term limits in bipartisan push
(DBN)

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Wall Street:

Stock futures slide with the Nasdaq set to fall deeper into correction territory
(DBN)

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Layoffs:

WARN Act Decision Highlights Employment Risks for Private Equity Sponsors
(DBN)

Barclays to lay off dozens of US consumer bank employees
(DBN)

Shell will cut 200 jobs in clean energy division
(DBN)

Ford offers unpaid leave to UAW factory workers at Louisville Assembly Plant in Kentucky
(DBN)

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Tech:

AI is the 'biggest challenge of our times' and humanity could be replaced by machines in 5 years, Henry Kissinger says
(DBN)

Alphabet sees $165 billion in market cap wiped after cloud business growth disappoints Wall Street
(DBN)

A year after Musk's Twitter takeover, X remains mired in turmoil
(DBN)

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Fraud:

A woman who faked cancer and duped hundreds into donating $37,000 says she did it 'to get my family back together'
(DBN)

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Healthcare:

Health care unaffordable even for insured Americans: survey
(DBN)

Half of Working-Age Americans Struggle to Afford Medical Care
(DBN)

Warning signs for the U.S. health system are piling up
(DBN)

Black women face deadly racial disparities in breast cancer
(DBN)

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Climate:

Earth's Vital Signs Show the Planet in Crisis
(DBN)

Acapulco Virtually Destroyed by Hurricane Otis Why Hurricane Otis' 'nightmare' rapid intensification has scientists alarmed Hurricane Otis’ Category 5 ‘nightmare scenario’ strike knocks out all communications in Acapulco, Mexico
(DBN)

Rich Nations Must Speed Up Climate Action to Meet Paris Goals as Carbon Budget Shrinks
(DBN)

Feds Prep Large Financial Institutions to Brace for Climate-Related Risk
(DBN)

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Utilities:

GoldenTree, Invesco Unite Against Puerto Rico Utility Debt Plan
(DBN)

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Economy:

The four intersecting risks that may hit the global economy
(DBN)

Mean Net Worth of US Household is $1M
(DBN)

Bonds' record-breaking crash is a threat to stock prices and American jobs. Here's everything you need to know about the Treasury-market turmoil.
(DBN)

Ray Dalio, Jamie Dimon, Larry Fink issue grim outlooks for the global economy
(DBN)

Global recession and financial crisis could hit if the Israel-Hamas war pulls in the US and Iran, Wall Street veteran says
(DBN)

The US is headed for recession, but a key difference from past downturns could make it milder, Apollo chief economist says
(DBN)

US GDP Data to Show Temporary Boost from Summer-Spending Frenzy
(DBN)

The US can't grow its way out of its $33 trillion debt mountain, research group says
(DBN)

Treasury bond supply could soon hit record levels as unsustainable deficits and high rates create spiral effect, Bank of America says
(DBN)

The biggest victim of Fed rate hikes is the US government as interest on massive debt soars, billionaire investor Barry Sternlicht says
(DBN)

A bad deal gets worse — interest rates on retail credit cards hit a record high
(DBN)

Why ‘Made in America’ will make everything more expensive
(DBN)

A CEO resigned after making remarks on Israel. He's a case study in failing to read the room.
(DBN)

Californians are fleeing amid sky-high housing costs. Here are the top 10 states they're flocking to.
(DBN)

Your ‘Set It and Forget It’ 401(k) Made You Rich. No More - WSJ
(DBN)

Colorado Company Tries To Pay Off $23,500 Debt With Coins: 'A Major F-U'
(DBN)

People in Texas are quitting their jobs more than any other state
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

New Home Sales increase to 759,000 Annual Rate in September; Median New Home Price is Down 16% from the Peak New Home Sales increase to 759,000 Annual Rate in September
(DBN)

Don't expect house prices to fall this winter, says Goldman Sachs economist
(DBN)

MBA: Mortgage Applications Decreased in Weekly Survey
(DBN)

The race to create the 'Amazon of real estate' could change home buying forever
(DBN)

This Billionaires’ Row condo, once asking $135M, has sold for less than half
(DBN)

Developers envision up to 4K homes on closed golf course near San Jose
(DBN)

UBS O’Connor to Take Keys to Gas Tycoon’s Bankrupt Aspen Ranch
(DBN)

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Oil/Gas:

Why Exxon and Chevron are doubling down on fossil fuel energy with big acquisitions Big Oil’s Mega Acquisitions Raise Questions About Peak Oil Demand
(DBN)

Current fossil fuel use makes UN climate targets 'very difficult' to achieve, says IEA
(DBN)

Chasing Big Mergers, Oil Executives Dismiss Peak Oil Concerns
(DBN)

Biden Seeks to Tame Oil Prices if Mideast Conflict Sends Them Soaring
(DBN)

Oil Refiners Struggle for Financing as Banks Shun Fossil Fuels
(DBN)

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Education:

Undergraduate enrollment increases after years of decline
(DBN)

GW students project anti-Israel messages on campus building
(DBN)

G.O.P. Candidates Call for Campus Crackdowns Against Anti-Israel Speech
(DBN)

Columbia University postpones major fundraiser amid tensions over Israel-Hamas war
(DBN)

Republicans threaten colleges, foreign students over response to Israel-Hamas war
(DBN)

Florida orders universities to ‘deactivate’ pro-Palestinian group DeSantis' state universities chief disbanded a pro-Palestinian campus group across Florida — and hinted at felony charges
(DBN)

'I've never seen anything like it': Teachers are struggling with pandemic learning loss
(DBN)

I pulled my kids from school because their teacher’s fat…she was a bad influence & I don’t want her low energy near them
(DBN)

Jury Finds Baylor Liable for Violence Against a Student
(DBN)

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Ticketing:

Ticketmaster’s hidden fees remain common long after it vowed to scrap them
(DBN)

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Ride Hailing:

Here's what reportedly led to Cruise robotaxis getting banned in San Francisco
(DBN)

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Autos:

EV buyers are more fickle than ever and it’s a warning sign for the industry, car dealers say
(DBN)

Tesla’s Cybertruck Will Test America’s Great Political Divide
(DBN)

October Vehicle Sales Forecast: 16.0 million SAAR, Up 9% YoY
(DBN)

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Labor:

UAW and Ford reach tentative agreement, potentially ending strike at the Big Three automaker Ford Agrees to 25% Wage Hike in Tentative Deal to End UAW Strike
(DBN)

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Furniture:

Z Gallerie Bankruptcy Adds to Home Sector’s Carnage
(DBN)

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Crypto:

Sam Bankman-Fried To Testify In His Own Defense, What Can Possibly Go Wrong? Sam Bankman-Fried May Testify to Role of Lawyers, 'Good Faith' Efforts, Filing Says Will Sam Bankman-Fried fix his case when he takes the stand? Sam Bankman-Fried Testimony Is Trial Climax for FTX Court Watchers 'FTX Is Fine' - Tweets Sam Bankman-Fried May Regret on the Stand Former 'king of crypto' FTX boss to take stand in fraud trial that, so far, seems to be going very badly for him
(DBN)

FTX navigates post-bankruptcy options, weighs sale or revival
(DBN)

11 of the biggest bombshells from Sam Bankman-Fried's FTX fraud trial
(DBN)

FTX probes $6.5M in payments to AI safety group amid clawback crusade
(DBN)

Sam Bankman-Fried Will Testify at Criminal Trial, Lawyer Says
(DBN)

Binance Halts Cryptocurrency Withdrawals On Its Platform
(DBN)

Hobbled Crypto Exchange's Creditors Are Suing Its CEO and Want to Claw Back Money From 'Bitcoin Jesus'
(DBN)

Millions in Ether, Chainlink Linked to FTX and Alameda Moved
(DBN)

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Student Debt:

TikTok, Instagram draw borrowers desperate for student debt advice
(DBN)

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Retailing:

Hello Bello, Hello Bankruptcy
(DBN)

Sears reopens department store in California mall - only for shoppers to slam 'depressing' displays and empty shelves at ailing retail giant
(DBN)

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Event Facilities:

Offer emerges for bankrupt, bond-funded Arizona sports venue Arizona Sports Complex Bondholders All But Wiped Out in Deal
(DBN)

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Pharma:

Prescription for disaster: America's broken pharmacy system in revolt over burnout and errors
(DBN)

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Celebs:

Katie Price furiously hits back at fans who slammed bankrupt model for getting expensive hair extensions
(DBN)

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New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (10 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (14 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

It's not just SmileDirectClub. TN corporate bankruptcies up 80% as COVID-era support phases out
(DBN)

The Next Rite Aid? 7 Companies That Could File for Bankruptcy in 2023
(DBN)

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Miscellaneous:

The Insolvency Review – Edition 11
(DBN)

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Mass Torts:

Powerful senators fire off letter decrying 'abusive' tactics in Corizon bankruptcy
(DBN)

Huge 3M PFAS settlement questioned by water wholesalers
(DBN)

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Aviation:

Major US airlines are on the warpath with Congress over a bill they say would gut flyer miles
(DBN)

Houston airport had to ground all flights after a private jet departed ‘without permission’ and collided with another jet, FAA says
(DBN)

Boeing has now lost more than $1 billion on each of the president’s two new jets
(DBN)

Buyers’ apathy, change in IBC spur Go First liquidation fear
(DBN)

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Politics:

Warning signs flash for Biden in recent polling
(DBN)

Progressives rebel against Biden’s handling of Israel-Gaza crisis
(DBN)

Greene says Gaetz, 7 other colleagues need to apologize to ‘heal the conference’
(DBN)

Virginia poised to elect 2020 election denier
(DBN)

DeSantis Cares More About Popularity Than The First Amendment
(DBN)

House Republican tells reporter to ‘shut up’ for asking Johnson about overturning 2020 election
(DBN)

Fetterman ‘can’t believe’ Marshall resolution on school lunch ‘is even real’
(DBN)

‘Are we screwed?’: Anguished House GOP turns to fourth speaker pick Take four: Can Mike Johnson get 217? Trump backs Johnson for House speaker GOP speaker nominee Mike Johnson played a key role in efforts to overturn the 2020 election
(DBN)

House elects Mike Johnson as Speaker, ending GOP chaos New Speaker Mike Johnson: no assets, lots of debt Mike Johnson's 3 biggest challenges as House speaker Mike Johnson elected House speaker, ending 22 days of GOP stalemate Five things to know about Speaker Mike Johnson Where House Speaker Mike Johnson stands on Ukraine, Israel Jeffries calls Mike Johnson an ‘extreme right-wing ideologue’ The Terrifying Learning Curve Facing Mike Johnson Biden campaign knocks Johnson Speakership as cementing ‘extreme MAGA takeover’ of House GOP Johnson brings pro-oil, climate-skeptical record to speakership The Far Right Gets Its Man of the House New Speaker Mike Johnson Made His Name as Cultural Conservative - WSJ New speaker of the House Mike Johnson once wrote in support of the criminalization of gay sex Mike Johnson is the least experienced House speaker in 140 years Mike Johnson's 20-year paper trail is an opposition researcher's dream
(DBN)

GOP presidential candidates embarrassed by party's speaker saga 3 winners and 3 losers from the House speaker circus
(DBN)

‘I killed him': How Trump torpedoed Tom Emmer’s speaker bid
(DBN)

George Santos Hit With Brutal Context Note
(DBN)

Dem Bowman criminally charged for pulling fire alarm on Capitol Hill
(DBN)

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Sovereigns:

Zambia Reaches Deal With Bondholders on Debt Restructuring
(DBN)

Sri Lanka debt restructuring: US insists on fairness, equal treatment
(DBN)

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UK:

Scottish corporate insolvencies rise 20% from pre-pandemic levels
(DBN)

Landlords warned over ‘bankruptcy’ threat from Renters (Reform) Bill
(DBN)

Britain is quietly inching towards a fate worse than bankruptcy
(DBN)

Just one in 10 councils publish accounts voters are meant to see
(DBN)

Cash-strapped Croydon Council to chase benefit claimants for unpaid council tax
(DBN)

Welsh councils face future funding gap of nearly £750m, warn experts
(DBN)

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Canada:

Bank of Canada holds key rate at 5 per cent, repeats warning of possible future hikes
(DBN)

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MENA:

US shifts tone on Israel-Hamas war as potential ground invasion looms
(DBN)

Israel ramps up feud with UN, vowing to ‘teach them a lesson’ Cease-fire Calls Dominate Fiery U.N. Security Council Session What we know about UN draft resolutions on the Israel-Hamas war so far
(DBN)

Biden is worried about wider war in the Middle East. Here’s how it could happen.
(DBN)

Israel agrees to U.S. request to delay Gaza invasion Biden says he has not demanded Netanyahu hold off on ground invasion Biden's post-war plan: Talks on a two-state solution to Israeli-Palestinian conflict Israel shows Hamas attack videos as it tries to keep focus on brutality of Oct. 7 ambush Israeli tanks cross into Gaza for 'targeted raid' Why Is Israel Attacking South Gaza After Telling People to Go There? US military advisers invoke lessons of Iraq War, urging Israel to avoid all-out ground assault Israel will flood Hamas tunnels with nerve gas under US navy supervision Occupation, annexation, and other terms you should know related to the Israel-Hamas war Gaza fuel shortage could halt relief work, U.N. warns Gaza is plagued by poverty, but Hamas has no shortage of cash. Where does it come from? As Gaza's health care system collapses, Americans mourn loved ones who 'could have been saved' The many reasons Netanyahu may be delaying an Israeli ground offensive in Gaza UN warns it may have to cut Gaza aid operations Gaza families wear ID bracelets to avoid burial in mass graves Thirst and Hunger Grow in Besieged Gaza Amid Israeli Bombardment The Israel-Hamas war’s economic toll on Gaza Israel's economy and finances face wartime strain Americans stuck in Gaza are forced to wait for key land crossing to open Egypt’s border closure flouts international law Biden administration pushes for a humanitarian 'pause' in Israel’s military campaign in Gaza
(DBN)

Hamas Fighters Trained in Iran Before Oct. 7 Attacks - WSJ Iran Directly Aided Hamas With Training, Money, Weapons Before Oct 7 Attack, Says Israel
(DBN)

24 US service members injured in Oct. 18 attacks in Iraq and Syria
(DBN)

Biden calls for ‘concentrated effort’ toward future two-state solution for Israel, Palestinians
(DBN)

Weapons Flood West Bank, Fueling Fears of New War Front With Israel - WSJ
(DBN)

Erdogan cancels Israel trip; Calls Hamas 'liberators' Mediator no more: Erdo?an takes aim at Israel, backing Hamas ‘freedom’ fighters
(DBN)

What unites the global protests for Palestinian rights
(DBN)

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Russia:

The White House is losing the messaging war on Ukraine. Now it's changing the message.
(DBN)

Ukrainian pilots begin F-16 training in US
(DBN)

A Ukrainian soldier went to Washington to explain the war. He says politicians don’t realize much of the funding actually stays in the US.
(DBN)

Russia’s Frozen Cash Earns €3 Billion as EU Haggles Over How to Tap It
(DBN)

Ukraine says it created a whole battalion from Russians who signed up to fight their own country
(DBN)

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China:

China's troubled property giant Country Garden has reportedly defaulted on a bond payment How Country Garden became the new face of China’s spiraling property crisis
(DBN)

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Luxembourg:

Luxembourg is modernizing its restructuring and insolvency law
(DBN)

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Sweden:

Swedish CFOs See Worst Business Prospects Since Financial Crisis
(DBN)

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Hong Kong:

Hong Kong Courts’ Approach To Bankruptcy / Winding-up Proceedings Involving Arbitration Clauses.
(DBN)

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Turkey:

Turkey’s central bank hikes key interest rate to 35%
(DBN)

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Brazil:

A $10 Billion Debt Wave Hits Brazilian Retailers at Worst Time
(DBN)

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