October 31, 2023

The Daily Bankruptcy News

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Law:

After end to merger talks, Stroock loses more than half of its partners; is law firm’s viability at risk? The End May Be Near As Stroock Loses More Than Half Its Partners To Hogan Lovells Partners May Be Able To Find Lateral Safety At Other Firms If Stroock Closes Its Doors Over 30 Stroock Partners to Join Hogan Lovells as NY Firm's Prospects Appear Bleak
(DBN)

How Big Law Mergers Succeed: The Quiet Part Out Loud
(DBN)

Law firm Foley Hoag sues New York lawyer over bankruptcy fees
(DBN)

Cleary Gottlieb Promotes Bankruptcy Lawyer to Senior Attorney
(DBN)

Biglaw Firm Fires Back After Discrimination Lawsuit
(DBN)

Winston & Strawn Is Third Firm Hit With Blum Group’s DEI Suit Winston & Strawn Sued by Blum-Led Group Over 1L Diversity Scholarship
(DBN)

Winston & Strawn The Next Target Of Blum And His Diversity Haters
(DBN)

Mothers Still Face Disproportionate Burden in Legal Field, ABA Report Finds
(DBN)

2023 Was A Very Good Year For Biglaw Firms To Increase Their Billable Rate Big Law's Approach to Billing Rate Hikes in 2024
(DBN)

For How Much Biglaw Associates Are Billing, They Aren't Expecting Anything Special This Bonus Season
(DBN)

Former partner’s lawsuit claims are ‘legally and factually deficient,’ Polsinelli says
(DBN)

Slain law prof’s former brother-in-law was murder mastermind, alleged go-between testifies
(DBN)

Where are they now? Law student tracks lawyers from disbanded Dewey firm, finds no ‘scarlet letter’ Charlie Adelson's ex, serving life sentence for Dan Markel murder, admits: I lied in court
(DBN)

Oh Deer! Animal Crashes Through Window To Roam Michigan Law School
(DBN)

Trump slams judge after gag order reinstated in federal election case What Trump can say and can’t say under a gag order in his federal 2020 election interference case Trump Crams In One More Attack On A Witness Before Gag Order Is Reimposed
(DBN)

Why All Defendants In Georgia Except Trump Will Flip
(DBN)

Mar-a-Lago was only worth $27M despite Trump Org. claiming $517M to gain edge: trial evidence
(DBN)

DOJ seeks 10 years for Trump appointee who assaulted officers on Jan. 6 Jan. 6 defendant brawls in court after being ordered to jail ahead of sentencing Jan. 6 Rioter Tackled by Feds While Attempting to Flee Court
(DBN)

Evidentiary hearing begins in suit to block Trump from Colorado ballot under 14th Amendment 'Horrific': Harrowing police testimony kicks off trial to remove Trump from 2024 ballot Colorado Trial Will Consider Whether the 14th Amendment Disqualifies Trump The fraught debate over whether the 14th Amendment disqualifies Trump, explained Swalwell testifies in 14th Amendment case to disqualify Trump Member of Trump's 'Inner Circle' Suddenly Cancels Testimony 5 things to know about the 14th Amendment effort to block Trump from the presidency
(DBN)

Boxing referee-turned-judge knocks out attempt to boot Trump off 2024 ballot
(DBN)

Civil rights trial of ex-officer linked to Breonna Taylor's death set to begin
(DBN)

Judge blocks federal government from removing razor wire at Texas border
(DBN)

Some 5,000 migrants set out on foot from Mexico’s southern border, tired of long waits for visas
(DBN)

More Chinese migrants are crossing Panama’s jungle to come to the U.S.
(DBN)

White supremacists profit on messages targeting Atlanta Jews
(DBN)

Chemerinsky: ‘Never in my life have I seen or felt the antisemitism of the last few weeks’
(DBN)

Judge dismisses Brett Favre defamation suit, saying Shannon Sharpe used hyperbole over welfare money
(DBN)

There’s No More Getting Away With Murder
(DBN)

Man pointed gun at head of 6-year-old who brought Halloween goody bag to wrong house: Cops
(DBN)

Parents charged after son's body found in backyard freezer by new homeowners: Cops
(DBN)

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Judges:

Help wanted: New Texas bankruptcy judge sought to replace Jones
(DBN)

‘Reminds Me of Facebook Relationship Status — It’s Complicated’
(DBN)

Cars Seized by Police Get Supreme Court Scrutiny in Civil Forfeiture Case 'Hard Row to Hoe': Skeptical Supreme Court Hears Demand for Quick Forfeiture Hearings Sotomayor, Gorsuch appear to team up against Alabama in civil asset forfeiture case
(DBN)

Senate Democrats Plan to Subpoena Wealthy Figures Who Paid for Thomas’s and Alito’s Luxury Trips Senate Democrats Move to Subpoena Harlan Crow in Supreme Court Probe
(DBN)

Judges Should Get Comfortable 'Harsh Criticism,' Says Federal Judge Who Throws Epic Hissy Fits Over Student Criticism
(DBN)

No Immunity for Judge Who Led Warrantless Search of Litigant's Home, 4th Circuit Rules
(DBN)

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Wall Street:

S&P 500 futures rise as benchmark gets set to close out third-straight negative month
(DBN)

Dow soars more than 500 points as stocks jump amid easing Mideast conflict fears
(DBN)

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Layoffs:

About 240 jobs eliminated at Lehigh Valley Health Network
(DBN)

2,000 layoffs at VW’s Cariad
(DBN)

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Labor:

Pharmacy staff from CVS, Walgreens stores in US start 3-day walkout
(DBN)

UAW president sees big contract wins as a turning point in labor movement Biden speaks with UAW head after tentative deals struck with Big Three
(DBN)

Autoworkers strike is over as union and GM reach potential deal
(DBN)

Winners and losers of the UAW talks with GM, Ford and Stellantis
(DBN)

Autoworkers Score Big Wins in New Contracts With Carmakers
(DBN)

Why more fossil fuel workers aren’t joining the clean energy revolution
(DBN)

Tesla and Anti-Union Elon Musk Make Enticing Targets for UAW's Next Push
(DBN)

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Politics:

Gingrich backs Johnson on Israel-only aid package: ‘Great start for the new Speaker’ McConnell goes all out as Ukraine fight fractures GOP House GOP announces standalone $14.3 billion Israel aid package, setting up Senate clash Biden’s Cabinet secretaries will push a divided Congress to send aid to Israel and Ukraine House GOP Calls for IRS Cuts to Pay for $14.3 Billion in Israel Aid
(DBN)

Mike Johnson's Already Making MAGA Mad
(DBN)

White House warns Biden would veto House appropriations measures
(DBN)

Cornell University students have left campus and are afraid to sleep in their rooms after violent online threats were made against Jewish pupils Threats against Cornell’s Jewish students reported to FBI, school says Over 100 Columbia professors sign letter defending students who supported Hamas' 'military action'
(DBN)

Antisemitic Creep Warned Nevada Senator He’d ‘Finish What Hitler Started,’ Feds Say
(DBN)

What a lonely time to be a Jew in America
(DBN)

The Global War on the Jews
(DBN)

Spurned by moderates and MAGA: How DeSantis’s coalition has deflated
(DBN)

Nikki Haley Continues Her Ascent, Ties DeSantis for 2nd In Iowa’s Gold Standard Poll Nikki Haley, Ron DeSantis tied for second in Iowa poll, Trump far in front
(DBN)

Trump flubs Iowa city for South Dakota city in campaign misstep
(DBN)

How Trump’s Verbal Slips Could Weaken His Attacks on Biden’s Age
(DBN)

After Ron DeSantis Took Over Disney World's Special District, A Lot Of Employees Are Responding In The Same Way
(DBN)

Mike Lindell Says It's 'Disgusting' What's Happening to MyPillow
(DBN)

He says he's a moderate Republican, and the party is on a 'slide to authoritarianism'
(DBN)

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Nursing Homes:

Judge dismisses North Shore Manor bankruptcy
(DBN)

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Economy:

Most middle-income Americans still earning less than 3% on savings, survey finds
(DBN)

Treasury to borrow $776 billion in the final three months of the year
(DBN)

Goldman: 2024 Inflation Outlook
(DBN)

The national debt is finally a real-world problem
(DBN)

NYT tech workers to walk out in protest of return-to-office policies
(DBN)

Why the U.S. rates surge went worldwide
(DBN)

The future of warfare: A $400 drone killing a $2M tank
(DBN)

The extra money people saved during COVID is almost gone
(DBN)

Companies lower salaries in job postings as pay transparency laws take effect
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Housing October 30th Weekly Update: Inventory increased 1.5% Week-over-week; Down 2.7% Year-over-year
(DBN)

Home sale agreements canceled at an alarming rate: Redfin
(DBN)

As Insurers Flee Some of California’s Wealthiest Areas, Homeowners Are Left Holding the Bag
(DBN)

Property Fundraising Slumped 71% in Third Quarter With Rate Risk
(DBN)

Convicted 'serial squatter' may have schemed her last illegal stay after landlord fights back
(DBN)

Largest Illinois CCRC to Be Taken Out of Bankruptcy with $114.8M Encore Deal Winning bidder identified for large nonprofit CCRC in bankruptcy Massive CCRC agrees to $115M bankruptcy deal
(DBN)

Governor’s Square update: Real estate broker on board but no sale offer yet for bankrupt owners
(DBN)

Luxury ranch sale gets closer after court ruling
(DBN)

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Municipalities:

Puerto Rico Oversight Board defends PREPA disclosure
(DBN)

‘Super commuting’ is on the rise — and that spells big trouble for mid-size cities
(DBN)

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Tech:

Elon Musk wants users' 'entire financial life' on X by the end of 2024
(DBN)

Fidelity has marked down the value of Twitter/X by 65%
(DBN)

X Says It Is Worth $19 Billion, Down From $44 Billion Last Year
(DBN)

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Healthcare:

Hospital’s fate remains in question as pensioners cite conflicts of interest
(DBN)

Federal coverage of COVID drugs is ending
(DBN)

How a Lucrative Surgery Took Off Online and Disfigured Patients
(DBN)

COVID Lockdowns Were a Giant Experiment. It Was a Failure.
(DBN)

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Food/Beverage:

McDonald’s revenue soars as it hikes menu prices: ‘$18 Big Macs’
(DBN)

Home cooking falls to pre-pandemic levels in North America
(DBN)

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Cannabis:

‘People just can’t pay their bills’: Oklahoma’s wild marijuana market is about to shrivel
(DBN)

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Utilities:

Biden announces $1.3 billion to upgrade aging electric grid
(DBN)

Puerto Rico’s Silent Crisis: High Energy Costs Threaten Businesses
(DBN)

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Religion:

Spain's Catholic Bishops Apologize After Report Of 200,000 Abused
(DBN)

Former priest sacked for child sexual abuse allegations allegedly molested cancer patient
(DBN)

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Solar:

Sunlight Financial files for bankruptcy, reaches deal to sell itself Sunlight Financial Files for Chapter 11, Inks Sale to Investors
(DBN)

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Crypto:

Sam Bankman-Fried blames top lieutenants in day two of testimony
(DBN)

Everything Sam Bankman-Fried Said to Avoid Actually Answering a Question
(DBN)

Sam Bankman-Fried admits to a bigger role at Alameda under tough questioning
(DBN)

Sam Bankman-Fried Grilled by Prosecutor, Who Points Out Contradictions in His Testimony
(DBN)

Sam Bankman-Fried testifies he believed FTX was 'fine' until just before collapse
(DBN)

SBF claims ‘ I don’t recall’ 100 times in court — then admits his hedge fund had special access to investor money
(DBN)

Sam Bankman-Fried testifies he thought hedge fund could cover $8 billion debt to FTX
(DBN)

FTX Was ‘Safe,’ Evasive Answers, ‘Crazy’ Hair: SBF Testimony
(DBN)

Unveiling the FTX-Alameda Connection: Insights from Sam Bankman-Fried’s Trial
(DBN)

Sam Bankman-Fried can't get past the fundamental flaw in his defense strategy
(DBN)

Sam Bankman-Fried is confronted with his own words as prosecutors question him in criminal fraud trial
(DBN)

FTX founder testifies Caroline Ellison ‘started crying’ at hedge fund concerns
(DBN)

A Year After FTX, Crypto Market Makers Adapt to Survive
(DBN)

Crypto Exchange Linked to 3AC Founders Drops Lawsuit Against Mike Dudas
(DBN)

Bankruptcy Court Permitted Bittrex to Close US Operations
(DBN)

Celsius Judge Asks SEC to Weigh In on Restart Plan, Quickly
(DBN)

Bitcoin Miner Core Scientific Hits Key Milestone in Bankruptcy Process
(DBN)

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Awards:

Q3 Bankruptcy League Tables
(DBN)

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Retailing:

How Rite Aid went from a Pennsylvania success story to a struggling chain that declared bankruptcy
(DBN)

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Trucking:

Kennesaw’s Jack Cooper making a $2 billion bid for bankrupt Yellow Jack Cooper Transport’s Bid for Bankrupt Yellow Corp: A High-Stakes Gamble for Jobs and the U.S. Trucking Industry
(DBN)

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Brands:

Step into the world of undead brands
(DBN)

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Social Media:

Can public officials block you on social media? It's up to the Supreme Court
(DBN)

____________

Radio:

Bankrupt media company with four radio stations in same state enters uncertain future as they seek buyer
(DBN)

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Bankruptcy Organizations:

ALI's Choice Architecture
(DBN)

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New Bankruptcy Opinions
(7 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (19 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (17 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

Zombie firms are filing for bankruptcy as the Fed commits to higher rates
(DBN)

Rising Small Business Bankruptcies Are a Red Herring
(DBN)

______________

Mass Torts:

Child Abuse Claims Have Franciscans Contemplating Bankruptcy
(DBN)

What Archdiocese of Baltimore bankruptcy proceedings mean for survivors of abuse
(DBN)

Bogus Claims Threaten to Taint Lejeune Toxic Water Payouts
(DBN)

Ruling against Alex Jones should serve as a warning to other professional liars
(DBN)

____________

Aviation:

Fliers Can’t Get Enough of the ‘Upper-Middle Class’ Section of the Plane - WSJ
(DBN)

____________

Autos:

Hertz's embrace of Teslas isn't going so well
(DBN)

GM's biggest bets are running out of juice
(DBN)

Tesla shares drop 5% on Panasonic battery warning, down 18% since earnings
(DBN)

Former Ford CEO predicts 'mass adoption' of electric vehicles will be 'tough'
(DBN)

Stellantis Revenue Climbs on Higher EV Sales, Stable Pricing
(DBN)

____________

Climate:

When Idiot Savants Do Climate Economics
(DBN)

Shipping industry could lose $10 billion a year battling climate change by 2050
(DBN)

Two Rainstorms Reverse Years-Long Drought at Texas Lake
(DBN)

____________

Education:

Gaza protests prompt VCs to reconsider university investments
(DBN)

Schools scramble to respond to an influx of migrant students
(DBN)

The Discourse Is Toxic. Universities Can Help.
(DBN)

____________

Student Debt:

2.5M student loan borrowers hit with billing mistakes, Education Department says
(DBN)

Education Department penalizes Mohela for error that made 800,000 student loan borrowers delinquent The Education Department punishes a student loan servicer for its billing mistakes
(DBN)

Education Department Unveils Major Details On New Student Loan Forgiveness Plan
(DBN)

Biden-Harris Administration Continues Efforts to Provide Debt Relief for More Student Loan Borrowers
(DBN)

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Banking:

Swiss National Bank posts 12 billion franc Q3 loss
(DBN)

SNB Set to Skip Second Payout as Profit Can’t Offset Record Loss
(DBN)

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Insurance:

US Trustee aims to speed Vesttoo liquidation, preserve value for stakeholders
(DBN)

Creditors object to Vesttoo’s insurance spending plans
(DBN)

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Corporate Governance:

Morgan Stanley Bonuses Raise Governance Question, Mayo Says
(DBN)

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UK:

Company insolvencies rise 10% amid warnings of growing distress Levels of severe financial distress rise by 25% as North East businesses face worsening economic climate Number of people taking out debt relief orders reaches highest level since 2009 Sharp increase in firms at risk of insolvency Firms going bust on track for worst year since 2009 Cost of living crisis: 40,000 businesses on the brink amid 'financial reality check' - Begbies Traynor
(DBN)

Leicester City Council warns bankruptcy a ‘real prospect’
(DBN)

Ailing retailers opting for controversial company voluntary arrangements
(DBN)

UK Property Slowdown Causes Surge in Firms in Critical Distress
(DBN)

Britons in Most Arrears Since Financial Crisis, Credit Firm Says
(DBN)

Inflation in UK Shops Drops to Lowest in More Than a Year
(DBN)

____________

MENA:

Israeli forces attack north Gaza's main city from both sides Under Shroud of Secrecy, Israel Invasion of Gaza Has Begun Israeli ministry, in a 'concept paper,' proposes transferring Gaza civilians to Egypt's Sinai Israeli tanks enter Gaza City which is 'on the brink of social collapse', aid workers warn as IDF troops are pelted with rocks as they also carry out raids on Palestinian armed groups in West Bank Israeli forces battle Hamas around Gaza City, as military says 800,000 have fled south UN agency in Gaza says urgent cease-fire is a matter of life and death for millions of Palestinians Bombs went off and lights went out as a blackout plunged Gaza into chaos ‘A Very Slow Game:’ Why the Pace of Israel’s Ground Operation Counts Israel stopped monitoring Hamas' radio comms a year ago because they thought it was a waste of time IDF rescues soldier held hostage by Hamas Shani Louk ‘beheaded’ by Hamas after she was kidnapped at music festival and paraded by terrorists: Israel For a better tomorrow, Palestinians need to forget historical grievances Biden tells Bibi that Israel must protect Palestinian civilians in Gaza Why Netanyahu won’t mention the ‘I’ word The Israeli Officials I Speak With Tell Me They Know Two Things for Sure Pentagon says there are no limits on how Israel uses US weapons as death toll climbs amid airstrikes in Gaza Israeli President Herzog endorses French plan for a coalition to fight Hamas What Palestinians Really Think of Hamas
(DBN)

Israeli economists urge Netanyahu to re-open budget to account for war
(DBN)

Israel envoy wears yellow star at UN
(DBN)

Netanyahu Vows to Stay On; Targets Hit in Lebanon Netanyahu: The Battle of Civilization - WSJ Netanyahu's Holy war: Israeli PM quotes the Bible and says 'this is a time for war' as he vows to 'resign Hamas to the dustbin of history' Israel pushes deeper into Gaza and frees Hamas captive; Netanyahu rejects calls for cease-fire
(DBN)

US forces attacked 23 times in Iraq and Syria since mid-October
(DBN)

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Russia:

A mob that stormed a Russian airport hunting for Jews got its marching orders from Telegram. Then the channel lost control Mob storms Russian airport to try to block plane from Tel Aviv Putin claims without proof that airport riots targeting Israelis were staged from Ukraine
(DBN)

Vladimir Putin turns on Netanyahu as he sees Israel 'as Russia's enemy'
(DBN)

Russians are hunting the Ukrainian drone pilots destroying their tanks and firing everything they've got, if they pick up their electronic trail, operator says
(DBN)

____________

Germany:

Far-right German legislator arrested after 'Sieg Heil' salutes heard
(DBN)

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Venezuela:

Venezuelan Court Orders Suspension on Opposition Primary
(DBN)

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Bermuda:

Bermuda – The Insolvency Review.
(DBN)

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China:

Crumbling buildings and broken dreams: China’s unfinished homes
(DBN)

China Manufacturing Unexpectedly Shrinks, Services Miss Forecast
(DBN)

China Evergrande Granted Lifeline as Liquidation Hearing Postponed Evergrande will struggle to revive its debt restructuring plan
(DBN)

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Italy:

Italian Economy Avoids Recession by Narrowest of Margins
(DBN)

___________

India:

16 Proposals to Strengthen the Liquidation Process
(DBN)

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