October 3, 2023

The Daily Bankruptcy News

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Law:

Walgreens Fight Against its Former Firm Crowell Gets Early Win
(DBN)

Looking At Supply And Demand To Pinpoint Why Outside Counsel Rates Continue To Rise
(DBN)

Kirkland & Ellis Promotes the Largest Class Ever to Partnership World's Richest Biglaw Firm Announces Yet Another ENORMOUS Partnership Class Kirkland Names 7 New Restructuring Partners
(DBN)

Biglaw Firms Accept Guidance On How To Navigate Attacks On Their Diversity Initiatives
(DBN)

The Next Targets for the Group That Overturned Roe
(DBN)

Trump and family deny responsibility for fudging Trump Org numbers in previously unseen deposition video shown by New York AG at trial Trump reaped over $100 million through fraud, New York says as trial starts Trump Made a Fortune Inflating His Assets, NY Tells Court Cohen deposition suggests Trump wanted to inflate net worth to be ‘higher on the Forbes list’ Cohen: Trump’s ‘biggest fear’ is losing money and not being considered a ‘mega-billionaire’ Trump appears ruffled during former accountant's testimony Courtroom riveted as Bender testifies about his accounting work for Trump "They're trying to damage me": Trump New York civil fraud trial begins Trump calls for judge overseeing New York fraud trial to be disbarred Trump says the judge is the criminal in furious tirade outside court Trump blasts judge during first day of $250 million fraud trial Trump rages against judge overseeing trial and N.Y. attorney general Trump calls New York fraud trial a ‘scam’ as he arrives to courtroom Trump lawyer argues with N.Y. trial judge in heated exchange Trump Court Appearance Gives Glimpse Into Trial Spectacles Ahead 6 takeaways from the first day of the $250 million Trump fraud trial Trump turns his fraud trial into a campaign stop as he seeks to capitalize on his legal woes
(DBN)

"The Trump empire ... will fold like a stack of cards," says former prosecutor
(DBN)

The removal dilemma: Trump’s fatal choice
(DBN)

Trump’s confrontation with the law will be impervious to the tactics he has used to confound political institutions
(DBN)

'Implausible on its face': Special counsel raises questions about Trump gun episode
(DBN)

Merrick Garland Threatens To Quit... If Joe Biden Interferes In Trump Prosecution
(DBN)

Kerik fights subpoena for testimony in Georgia with push for immunity deal
(DBN)

US Supreme Court rebuffs lawyers punished after 'woeful' suit backing Trump
(DBN)

Supreme Court denies Eastman petition, with rare recusal from Thomas
(DBN)

Hunter Biden returns to court in Delaware and is expected to plead not guilty to gun charges
(DBN)

Supreme Court declines to hear long-shot 14th Amendment challenge to disqualify Trump Former federal judge rips Washington Post over 14th Amendment editorial
(DBN)

5th Circuit takings ruling that breaks ‘Pottery Barn rule’ will be reviewed by US Supreme Court How Strong Is The Takings Clause, Really?
(DBN)

He, She, They: The Pronoun Debate Will Likely Land at the Supreme Court
(DBN)

Michigan's Supreme Court Rules That You Have To Use Common Sense When Referring To People
(DBN)

Social media vigilante Boopac Shakur dies after calling a man a pedophile
(DBN)

Elon Musk sued for libel by man falsely identified in neo-Nazi brawl Elon Musk sued by lawyer who won millions for Sandy Hook parents from Alex Jones
(DBN)

Illinois Gov. Pritzker presses Biden on ‘untenable’ influx of asylum-seekers Inside a New York City hospital on the front lines of the migrant crisis
(DBN)

Man killed ex-wife's dog, demanded her new husband 'return his wife to him': Police
(DBN)

Ex-sheriff's captain shot door-to-door salesman because she thought he was a hitman: Cops
(DBN)

Jacksonville sheriff says body camera video shows officers were justified in beating suspect
(DBN)

Day care worker pleads guilty to biting disabled child in the face
(DBN)

9-year-old girl kidnapped while riding her bike during camping trip with family: Cops
(DBN)

Taco Bell customer upset about receiving wrong change shoots employee several times: Cops
(DBN)

9-year-old who vanished from New York state park found safe and man linked to ransom note arrested A ransom note, fingerprints and cell phone pings. How New York police tracked down a missing 9-year-old girl and the suspect in her disappearance
(DBN)

'Furry' hackers claim to have breached NATO, leak 3,000 files
(DBN)

Cops: Woman sped on Interstate with husband clinging to car hood
(DBN)

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Judges:

Meet Arthur Engoron, the ‘somewhat quirky’ judge deciding fate of Trump and his businesses in civil trial
(DBN)

Justice Thomas recuses himself in ex-Trump lawyer's Jan. 6 case appeal Clarence Thomas Recuses Himself From Former Law Clerk's Appeal Justice Thomas Does Something Ethical
(DBN)

Biden: ‘Just not the case’ that Constitution prohibits Supreme Court ethics code
(DBN)

Here are the Supreme Court’s biggest cases this term
(DBN)

The Supreme Court Is Not Done Courting Disaster, With Abortion and Guns Back on the Docket
(DBN)

Kavanaugh taps brakes on sharp move to right
(DBN)

A Deep Dive Into One Of The Most Impactful Federal Judges Of The Last 30 Years
(DBN)

US Postal Service unveils stamp honoring Ruth Bader Ginsburg
(DBN)

Two right-wing judges seem to be trying to rig a US House race
(DBN)

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Wall Street:

Stock futures are little changed as traders weigh rising Treasury yields
(DBN)

Stocks just had their worst month of the year as the 'September Effect' set in. These 4 charts tell the story.
(DBN)

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Layoffs:

Blockchain Analytics Firm Chainalysis Cuts 15% of Staff
(DBN)

Billerud begins idle, temporary layoffs
(DBN)

Lululemon enacts 120 layoffs
(DBN)

Syros cuts 35% of workforce
(DBN)

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Tech:

What was Elon Musk’s strategy for Twitter? A fired Trump White House staffer offers a tantalizing clue
(DBN)

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Agribusiness:

Infarm’s Dutch branch declared bankrupt
(DBN)

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Student Debt:

She borrowed $34,000 in student loans. Now she owes over $500,000
(DBN)

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Banking:

Fed inspector blames crypto focus, nepotism for Silvergate Bank collapse
(DBN)

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Corporate Reform:

No Virginia, There Really Is No Such Thing as "the Fed" CFPB v. Community Financial Services of America
(DBN)

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Fishing:

Creditors, investors likely to be wiped out by Blue Harvest’s bankruptcy
(DBN)

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Economy:

Fed governor says further interest rate hikes likely needed to fight inflation
(DBN)

Fed chief Powell has warned of economic pain. In York, Pa., he heard all about it
(DBN)

6 reasons a recession is in the cards soon
(DBN)

Why your $7 latte is $7
(DBN)

How 10-year Treasurys could produce 20% returns, according to UBS
(DBN)

Americans Are Still Spending Like There's No Tomorrow
(DBN)

ISM® Manufacturing index Increased to 49.0% in September
(DBN)

Bill Ackman sees economic slowdown, end of Fed’s rate hikes
(DBN)

JPMorgan boss Jamie Dimon says AI will enable a 3.5-day workweek
(DBN)

How labor markets can get back to balance
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

ICE (Black Knight) Mortgage Monitor: "Home Prices Set Yet Another Record in August" Soaring home prices set another record as the housing market keeps getting less affordable
(DBN)

The US housing market is set to cool this fall, setting up a rare opportunity for buyers as sellers slash prices, Zillow says
(DBN)

WeWork misses $130.5 million in interest payments
(DBN)

Office CMBS Delinquency Rate Spikes to Nightmare Levels, Malls Have Been a Nightmare for Years
(DBN)

Construction Spending Increased 0.5% in August
(DBN)

Housing October 2nd Weekly Update: Inventory increased 1.3% Week-over-week; Down 4.7% Year-over-year
(DBN)

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Municipalities:

New PREPA bondholder group identifies itself
(DBN)

Do English Local-Government ‘Bankruptcies’ Have Any Ramifications for the U.S.?
(DBN)

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Oil/Gas:

Electric cars draw a backlash across the U.S. and Europe
(DBN)

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Retailing:

11 retailers at risk of bankruptcy in 2023
(DBN)

Essential retailer and popular chain face likely bankruptcy
(DBN)

Why retail shopping is no fun anymore
(DBN)

Target announces major policy change with Homeland Security to combat theft as shoplifting scourge shutters stores
(DBN)

Is in-store shopping dead? 3,200 retail stores across the US are set to shut by the end of the year
(DBN)

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Climate:

California and Newsom prep for the future with new climate rules
(DBN)

Rest of hurricane season in ‘uncharted waters’ because of El Niño, record ocean temperatures
(DBN)

Texas Drought Deepened in 2023
(DBN)

Climate Change Could Devastate Family Budgets
(DBN)

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Crypto:

Takeaways From a New Book on Sam Bankman-Fried The insider: how Michael Lewis got a backstage pass for the fall of Sam Bankman-Fried 10 Juicy Nuggets From the New Sam Bankman-Fried Book Michael Lewis says Sam Bankman-Fried paid Steph Curry $35M for 60 hours of work for FTX
(DBN)

Sam Bankman-Fried's Defense Asks for Clarity on Charity, Bankruptcy Arguments Bankman-Fried Seeks to Block Prosecutors Calling FTX Investors, Former Insiders as Witnesses Jury selection to begin in trial of fallen cryptocurrency mogul Sam Bankman-Fried Crypto goes on trial as FTX founder Sam Bankman-Fried faces reckoning What is FTX founder Sam Bankman-Fried’s trial about? Sam Bankman-Fried’s fraud ran through Washington, prosecutors say
(DBN)

The Power of Elite Connections: Unraveling the Cryptocurrency Empire of Sam Bankman-Fried
(DBN)

How SBF’s fall keeps rattling Capitol Hill
(DBN)

Polygamous parties in the Bahamas to behind bars in Brooklyn: How FTX founder Sam Bankman-Fried went from billionaire nerd to 'the biggest fraud in history
(DBN)

Disgraced FTX founder Sam Bankman-Fried paid Tom Brady $55 MILLION for doing a week's worth of work over a three-year period, Moneyball author claims
(DBN)

Celsius seeks court approval to start repaying customers by year-end Celsius Could Start Paying Customers By Year End, But There's A Catch Celsius lawyer says revival plans include $450M in seed funding
(DBN)

Class-action suit filed against Binance for alleged harm to FTX before its collapse
(DBN)

More than $50 million owed to creditors after collapse of Blockchain Global's cryptocurrency exchange
(DBN)

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Insurance:

Local Vesttoo hearing awaits liquidators’ report Vesttoo case: Committee of creditors approved to conduct legal discovery
(DBN)

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Food/Beverage:

Bankrupt Burger King owner sells off dozens of stores after becoming second franchisee to fail under chain’s name
(DBN)

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Politics:

Democrats Still Publicly Back Biden for 2024. Privately, Their Fears Are Growing.
(DBN)

Trump says he would prefer to die by electrocution in bizarre campaign rant
(DBN)

Trump's recent comments have taken a dark and aggressive turn
(DBN)

John Kelly goes on the record to confirm several disturbing stories about Trump John Kelly confirms Trump’s ‘suckers’ remark about war dead
(DBN)

Trump campaign calls on RNC to cancel third GOP debate
(DBN)

What to know about Laphonza Butler, Emily’s List head replacing Sen. Feinstein Laphonza Butler's Non-California Residence Raises Questions
(DBN)

Gaetz taunts McCarthy over motion to vacate Gaetz moves to oust Speaker McCarthy McCarthy plans aggressive counter to Gaetz's threat to gavel White House will stay out of looming fight over McCarthy’s Adam Schiff and Matt Gaetz agree on one thing...Speakership Democrats are torn on whether to rescue Kevin McCarthy McCarthy faces deep Democratic mistrust with his gavel on the line Rep. Matt Gaetz concedes Kevin McCarthy 'probably' can survive a first vote to oust him McCarthy braces for new Republican rebellion
(DBN)

Greene warns expelling Gaetz ‘will not be tolerated’ by GOP voters
(DBN)

‘This is Going to F--- Trump’: RFK Jr. Campaign Insider Says Independent Run Will Help Biden
(DBN)

More in new poll likely to see Biden as too old compared to Trump
(DBN)

Capitol Police deliver new update on Bowman fire alarm incident Bowman's fire alarm fallout resonates back home and in Washington NY Republican introduces resolution to expel Bowman for pulling fire alarm
(DBN)

Bob Menendez Trial to Start on May 6, 2024
(DBN)

Congressman carjacked in DC
(DBN)

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New Bankruptcy Opinions
(3 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (30 new filings today)
(DBN)

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

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

Small Business Bankruptcies Are Accelerating
(DBN)

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Mass Torts:

The Archdiocese of Baltimore declared bankruptcy. It wasn’t about money.
(DBN)

Sex abuse lawsuits filed under Maryland’s new Child Victims Act begin to stack up
(DBN)

Ohio Senate Passes Bill to Increase Compensation for Boy Scouts Abuse Victims
(DBN)

The Purdue Case: Can the Rich Use Bankruptcy Law as Cover?
(DBN)

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UST:

The Post-Siegel Fallout Continues: The Supreme Court Has Accepted Certiorari to Determine Whether a Refund of Overpayments Made by Chapter 11 Debtors in Accordance with the Unconstitutional Fee Hike Under the United States Trustee Program is an Appropriate Remedy
(DBN)

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D&O:

The Risks of Shareholder Derivative Suits and D&O Coverage
(DBN)

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Sales:

Delaware District Court Holds That Certain Federal Labor Law Successor Obligations Were Not Extinguished By A “Free and Clear” Section 363(f) Bankruptcy Sale
(DBN)

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Aviation:

Flying is a nightmare and it won't get better anytime soon
(DBN)

Air Malta Shutdown Sparks Political Controversy, ‘You Bankrupted Air Malta’, Grech Tells PM Robert Abela
(DBN)

Brazil airline Azul completes payment deal with lessors, OEMs
(DBN)

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Education:

Brandon Hall School wants to sell assets to pay off creditors
(DBN)

This one chart explains the teacher shortage
(DBN)

Few Americans say conservatives can speak freely on college campuses, an AP-NORC/UChicago poll shows
(DBN)

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Labor:

Powerful Union Expects ‘Business as Usual’ During Bankruptcy ILWU Dockworkers Union’s Sway at West Coast Ports Is Tested in Bankruptcy - WSJ ‘Scorched-Earth’: Major Union Files For Bankruptcy After Losing Decade-Long Legal Battle
(DBN)

Biden, Trump visits fall flat for autoworkers girding for long strike
(DBN)

Automakers furlough hundreds more workers as strike rolls on
(DBN)

SAG-AFTRA & Studio CEOs Wrap Full Day Of Talks, Will Resume Wednesday Late-night shows return as actors restart negotiations with Hollywood studios
(DBN)

Largest-ever health care strike looms
(DBN)

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Autos:

Bankrupt electric vehicle startup Lordstown Motors plans to sell its remaining assets to an investment firm led by founder and original CEO Steve Burns
(DBN)

US new auto sales likely rose in Q3, but UAW strikes may pose speed bump
(DBN)

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Religion:

5 conservative cardinals challenge pope to affirm church teaching on gays and women ahead of meeting Pope Francis appears to open door to alternate blessings for gay couples Things to know about the Vatican’s big meeting on the future of the Catholic Church Pope signals some same-sex couples could be blessed
(DBN)

Church in AI takeover as sermon led by ChatGPT in artificial intelligence breakthrough
(DBN)

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Healthcare:

Massachusetts health system files for bankruptcy
(DBN)

Heywood Healthcare in Gardner files for Chapter 11 bankruptcy
(DBN)

Does anyone want to buy bankrupt SmileDirectClub? From $1.35 Billion IPO to Bankruptcy: SmileDirectClub's Quest for Rescue
(DBN)

Nebraska imposes 40 hours of therapy and other restrictions on care for trans youth
(DBN)

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UK:

Unsecured Creditors of Healthcare Group Babylon Face £300 Million Deficit
(DBN)

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Russia:

Russia's Black Sea Fleet Turns to Soviet-Era Aircraft Amid 'Struggles'—UK Russia Warships Retreat From Crimea's Waters as Attacks Intensify: Ukraine
(DBN)

Russia may be testing nuclear-powered missile: report
(DBN)

Zelensky vows to keep fighting after Ukraine aid dropped from short-term funding measure
(DBN)

Putin’s top ally Dmitry Medvedev warns of World War 3 if UK troops are sent to Ukraine & says they’d be ‘destroyed’
(DBN)

Why Putin wants a ‘forever war’
(DBN)

Ukraine remains hopeful for US support Pentagon has US$5.2 billion left to provide military support for Ukraine E.U. makes historic show of support for Ukraine after U.S. budget deal snub
(DBN)

Burger King still in Russia despite pledge to exit
(DBN)

Russian ruble weakens past symbolic threshold of 100 against the dollar
(DBN)

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MENA:

Israel's chief rabbi: Secular Jews have lower intelligence!
(DBN)

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China:

Evergrande: Shares in crisis-hit property giant jump in market return China Evergrande’s Founder: From Rags to Riches to Under Investigation Evergrande Crisis: A Time Bomb for China’s Economy and Housing Market China has reason not to let Evergrande rejig rot Detention of China Evergrande founder Hui Ka-yan ‘a signal Beijing won’t let super-rich off the hook’
(DBN)

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Germany:

Germany’s political landscape is shifting, with the far-right AfD ahead in the polls
(DBN)


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Bangladesh:

Bangladesh ranks second highest in loan default in South Asia
(DBN)

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Mexico:

El Chapo's sons ban fentanyl production in Sinaloa, according to banners
(DBN)

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