April 25, 2024

The Daily Bankruptcy News

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Law:

This Biglaw Firm Is Making It Rain April Showers Of Cash On All Associates
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Delaware Boutique Morris Nichols Boosts Associate Salaries
(DBN)

Judge orders anonymous jury for trial of self-exiled Chinese businessman, citing his past acts
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Under Pressure From Lit Funding Creditor, Sacks Weston Agrees to Drop Chapter 11 Bid
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Both sides denied sanctions in Boies Schiller sex-trafficking suit
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With addition of 17 lawyers, Baker McKenzie picks up most of this firm’s corporate team
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The Path To In-House Just Got Easier At This Biglaw Firm
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How DLA Piper Learned to Stop Worrying and Love Generative AI
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More Lawyers Should Take Vacations
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General Motors Legal Chief Glidden Reaps $11.3 Million for 2023
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Supreme Court won’t hear lawyer’s challenge to anti-bias ethics rule
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Stand-up Student: One attorney’s journey from the classroom to the comedy club This Comedian's Legal Career Is Her Best Joke
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Don't Call It A Comeback For Cooley Law School... Because It's Probably Not A Comeback
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Columbia Law Professors Respond To University's Police Crackdowns On Campus Free Speech
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How to rid house of leavened products during Passover? Mormon law prof has contracts for that
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What to know about the FTC ban on noncompete agreements Chamber, business groups sue FTC to block noncompete ban New ban on noncompetes could have big impact on health care
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The Lawyer Who Gossiped Too Much
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Pecker testimony reveals backroom deals that helped Trump win 2016 Trump put at center of "catch and kill" scheme by Ex-National Enquirer publisher Romney: ‘You don’t pay someone $130,000 not to have sex with you’ Fact check: Trump falsely claims police turned away ‘thousands’ from Manhattan courthouse Trump allies zero in on hush-money prosecutor Todd Blanche Asks Trump Jurors To Believe Ten Impossible Things Before Lunch Break Alienating The Judge And Jury Seems Like A Bold Strategy For Trump
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George Conway says he ‘almost felt bad’ for Trump’s lawyers at gag order hearing Ex-Trump lawyer: Latest Cohen remarks ‘direct violation’ of gag order Trump Marches Out Of Contempt Hearing And Violates Gag Order Again
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Trump faces critical day in court in both NY and DC
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Judge nixes Trump effort to subpoena Stormy Daniels over documentary and communications
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They stormed Capitol in 2021 -- now they want to serve there
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As Trump battles for 'absolute immunity,' question resurfaces about assassinating rivals Supreme Court to consider whether Trump is immune from prosecution Critics call it ‘absurd,’ but here’s why Justices are looking at Trump’s immunity claim
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Trump has shared tales of courtroom spectacles. The reality is more subdued
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Jan. 6 rioter unapologetic at sentencing for assaulting police at Capitol with 'long pole'
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Trump, allies were part of Michigan fake elector scheme, investigator testifies Trump Took Part In Michigan 'Fake Elector' Plot But Not Charged: Official
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Arizona grand jury indicts 2020 Trump electors Former Trump aides Mark Meadows and Rudy Giuliani and GOP boss in charge of electoral integrity are among 18 indicted by Arizona grand jury 'for trying to overthrown 2020 election result' Ty Cobb responds to Giuliani indictment, says he ‘sold his soul’ for Trump
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Giuliani Looks to Toss Bankruptcy Lawsuit Over ‘Malicious’ Claim
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Lin Wood deposition got heated when lawyer asked if Jesus told him to take 'all the money'
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Federal complaint says ex-president and GOP firm violated multiple campaign finance laws
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'So appalled': What witnesses told special counsel about Trump's handling of classified info while still president Frustrated Jack Smith tries to 'set the record straight' on Trump valet's misconduct claim
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Trump lawyer no longer representing ex-president's aide after clients became 'adversarial'
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Michael Cohen says he’s reformed. Will America buy it? Trump again rips Michael Cohen despite gag order: ‘No credibility’
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Trump calls for multiple judges to be removed ahead of gag order decision
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Trump tells RICO judge two counts should be tossed, says DA has gone too far
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Migrants flown from Texas to Martha's Vineyard closer to getting visas as possible victims of crime
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Cops testing AI body camera that ‘writes its own police reports’ in five minutes and boast it’s ‘exceeded expectations’
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Satanic Temple ‘invocation’ sparks chaos at Ottawa County board meeting
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Arizona lawmakers expected to push repeal of Civil War-era abortion law through state House GOP-controlled Arizona House votes to repeal Civil War-era abortion ban Kari Lake Flips on Abortion Yet Again
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Supreme Court justices appear divided on abortion case Attorney struggled with questions about pregnancy complications from female justices during abortion hearing Amy Coney Barrett 'Shocked' by Lawyer's Comment in Idaho Abortion Case Roberts and Barrett appear to be key votes in abortion case Female Supreme Court justices push back most strongly on Idaho abortion ban Law prevents abortions even in medical emergencies SCOTUS weighs strict abortion ban in case with potential major implications The Supreme Court’s likely to make it more dangerous to be pregnant in a red state Mother describes leaving Idaho for an abortion as Supreme Court considers its ban
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California unveils plan opening door to Arizona abortion seekers and doctors
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Oklahoma admits death row inmate was falsely tried in Supreme Court brief, says prosecutor knowingly ‘elicited false testimony’ from mentally ill witness in order to convict him
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Michigan father 1st charged under new safe gun storage law after son shoots himself in the face
(DBN)

A new Supreme Court case seeks to make it much easier for criminals to buy guns
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FBI director issues chilling warning about possible terror attack on U.S. soil similar to Russian concert hall massacre which left 144 people dead: 'We are increasingly concerned'
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Chinese student given 9-month prison sentence for harassing person posting democracy leaflets
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Bail Project doesn’t have duty to control behavior of people after it posts bond, appeals court says
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'My father-in-law is going to kill me': Killer husband caught with wife's body, cops say
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Prisoners cool off with toilet water to beat punishing heat in Texas lockups: Lawsuit
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Judges:

Trump Shaped the Supreme Court. Now He Wants His Victory Trump’s ‘Crazy’ Argument for Immunity Heads to the High Court
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How a law meant to protect public workers may have created a lawsuit gold mine
(DBN)

The Bone of Contention: Could Courthouse Dogs Sway the Jury? - WSJ
(DBN)

Sam Alito Uncorks One Of The Dumbest Textualist Arguments In Supreme Court History
(DBN)

Top 5 Outrageous Judges Who Absolutely Lost It
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Richard Bernstein on the impact of Jan. 6 at the court
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Justice Clarence Thomas chooses not to recuse himself from another January 6-related case
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How the Supreme Court weaponizes its own calendar
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Wall Street:

Stock futures fall as Meta Platforms shares sell off after earnings
(DBN)

S&P 500 is at risk of crashing 44% — and selling early could pay off, says elite forecaster
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Layoffs:

Dom's Kitchen & Market and Foxtrot facing class action over sudden layoffs at specialty grocers
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Columbus retailer Express says 615 headquarter jobs at risk because of bankruptcy filing
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Retailing:

Amazon aggregator Thrasio loses CEO, other top execs as company works through bankruptcy
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A new wave of e-commerce disruption could close 45,000 retail stores over the next five years, analysts say
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Autos:

Elon Musk gives Wall Street what it wants, but more pain could be around the corner Tesla shares jump 13% after Musk says company aims to start production of affordable new EV by early 2025 What if no one wants a cheap Tesla? To save Tesla, Elon's got to go Tesla Is Not the Next Ford. It’s the Next Con Ed. Tesla stops the bleeding — but not the questions Tesla’s in its flop era
(DBN)

California carmaker, once worth $2.9 billion, warns of looming bankruptcy
(DBN)

An Existential Crisis in the German Auto Industry
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Ford just reported a massive loss on every electric vehicle it sold
(DBN)

Report: VinFast struggles to sell its cars around the world
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Sports:

Rebels' administrator proposes Super club rescue deal Insolvent since 2018: Melbourne Rebels’ rescue plan hinges on legal fight Rugby Australia and consortium at odds as confusion reigns over Melbourne Rebels’ future
(DBN)

Financially-troubled Serie A side making deal ‘complicated’ for Tottenham and AC Milan target with €30m demand
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Bankruptcy Crimes:

Suburban Chicago village leader pleads not guilty to bankruptcy fraud
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Student Debt:

Biden's piecemeal student debt forgiveness 'transformational' for borrowers, advocates say
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Trucking:

Carrier failures have "declined mostly steadily, but they are still higher than seen before the pandemic"
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Economy:

Why the Fed keeping rates higher for longer may not be such a bad thing
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More than 1 in 4 US adults over age 50 say they expect to never retire, an AARP study finds
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How tight labor markets fuel the productivity surge
(DBN)

Trump’s team keeps promising to increase inflation
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JPMorgan CEO Dimon says US economy is booming Jamie Dimon warns the world order is being challenged — and bashes crypto once more Jamie Dimon Fears for Our Future
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Biden Calls for 44.6% Capital Gains Tax Rate, Highest Capital Gains Tax Since Its Creation in 1922
(DBN)

Solar manufacturers petition U.S. to impose tariffs on imports from four nations
(DBN)

Is California really a high-tax state? New findings question that claim
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‘In the US they think we’re communists!’ The 70,000 workers showing the world another way to earn a living
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New Marine One helicopters the US spent $5 billion on aren't allowed to carry the president because they could scorch the lawn
(DBN)

In Florida, an exodus of people fleeing rising anti-immigrant sentiment
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Global Military Spending Hits $2.4 Trillion in '23
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US Debt Clock
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World Debt Clock
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Real Estate:

Mortgage rates reach new high for 2024
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AIA: "Architecture firm billings retreat further in March"; Multi-family Billings Decline for 20th Consecutive Month
(DBN)

Final Look at Local Housing Markets in March
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Benko Bankruptcy Claims Reach Billions as Creditors File in Austria
(DBN)

MBA: Mortgage Applications Decreased in Weekly Survey
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Florida’s Home Insurance Industry May Be Worse Than Anyone Realizes
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Municipalities:

Dolton mayor’s top aide pleads not guilty to bankruptcy fraud, village faces another lawsuit
(DBN)

Many large U.S. cities are in deep financial trouble. Here's why
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Oil/Gas:

Texas gas companies face uncertain future under new EPA emissions rules Biden’s Power-Plant Pollution Rule Collides With Soaring Demand
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Billionaire Texas oilman inks deal with Venezuela's state-run oil giant as US sanctions loom
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Tech:

Generative AI is still a solution in search of a problem
(DBN)

Biden signs Israel, Ukraine, TikTok bill into law TikTok vows to challenge ‘unconstitutional’ law that could ban app from US TikTok CEO Reacts to Law That Could Ban App: “We Aren’t Going Anywhere” What happens now that Biden has signed the TikTok bill TikTok's escape hatches as U.S. prepares to pass a ban
(DBN)

Biden campaign will stay on TikTok
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Trump Media CEO urges House GOP leaders to probe possible ‘manipulation’ of DJT stock
(DBN)

Meta loses $200 billion in value as Zuckerberg focuses on all the ways company bleeds cash Meta’s Miss Sparks Fear in Tech World With Big Earnings Looming
(DBN)

Lawyers Want $217 Million for Settling Google ‘Incognito’ Case
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Labor:

Starbucks resumes bargaining with union after two sides thaw relationship Supreme Court likely to side with Starbucks, curtail labor board authority
(DBN)

Amazon warehouse workers in Alabama might get a third try at unionizing
(DBN)

Endorsing Biden, Building Trades Union slams Trump as lackey for 'his billionaire buddies'
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Climate:

Extreme weather is making power outages trend higher
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Forecast group predicts busiest hurricane season on record with 33 storms
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Coal and new gas power plants will have to meet climate pollution targets Biden administration finalizes new rules for power plants in one of its most significant climate actions to-date
(DBN)

We might be closer to changing course on climate change than we realized
(DBN)

Biden administration sets national goal to cut freight emissions to zero
(DBN)

Iceland's Glaciers Collapsing Quickly
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Media:

US far-right outlet Gateway Pundit declares bankruptcy Gateway Pundit files for bankruptcy after election conspiracy defamation lawsuits A Popular Conspiracy Theory Website Just Declared Bankruptcy
(DBN)

As Google pulls news from search, fate of California Journalism Preservation Act is unclear
(DBN)

As 'news deserts' spread, U.S. journalism fights on
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Crypto:

Memecoins are back, and the returns are so big that even hedge funds can't resist
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Waste:

China stopped taking our plastic. Now America is drowning in it.
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Agribusiness:

U.S. expands testing for bird flu in dairy cows What consumers should know about the milk testing positive for bird flu
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Venture Capital:

Dear venture capitalists: You're blowing it
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Autos:

April Vehicle Sales Forecast: 15.8 million SAAR, Up 1% YoY
(DBN)

Elon Used 'Simple' Email Trick To Catch Employee Leaking Tesla Data To The Press
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Education:

LEAF Charter School in Alstead files for bankruptcy, is closing its doors
(DBN)

Kyle Rittenhouse on Campus: Be a Killer Like Me
(DBN)

Princeton students plan pro-Palestinian encampment: Report
(DBN)

Johnson calls for Columbia president to resign ahead of university visit Stefanik demands Biden administration yank Columbia's federal funding Columbia calls talks on students' Gaza protest encampment "constructive" Mike Johnson’s sons almost drowned after Mar-a-Lago meeting last year Columbia University becomes a congressional pilgrimage Dan Abrams ‘ashamed and embarrassed’ by Columbia campus protests Mike Johnson's trip to Columbia met with brutal hostility
(DBN)

Police detain pro-Palestinian protesters on University of Texas campus
(DBN)

Police arrest pro-Palestinian protesters at Emerson University
(DBN)

Viral Video Shows Police Deploying Batons Amid USC Pro-Palestinian Protest
(DBN)

Students protested for Palestine before Israel was even founded
(DBN)

Netanyahu condemns 'antisemitic mobs' on US college campuses
(DBN)

What the backlash to student protests over Gaza is really about
(DBN)

FBI working with colleges to warn of antisemitic threats, violence
(DBN)

College encampments protesting Israeli military operations in Gaza grow nationwide: What students are saying
(DBN)

Expanded so-called 'Don't Say Gay' education restrictions advance in Alabama
(DBN)

Chaos erupts at Tennessee statehouse after bill allows teachers to carry concealed guns
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Celebs:

Anne Heche’s estate cannot pay over $8M in debts, son says
(DBN)

How athletes and entertainers like Shohei Ohtani get financially duped by those they trust
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Nursing Homes:

10 issues often overlooked by nursing homes when contemplating bankruptcy
(DBN)

‘Overwhelming’ safety issues reported at North Texas nursing homes run by bankrupt company
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Solar:

TX: Solar panel company files Chapter 11 Bankruptcy, leaving customers feeling neglected
(DBN)

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Gambling:

IPI creditors file stay on proceedings pending bankruptcy petition
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New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (46 new filings today)
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Recent Ch. 11/9/12/15 Adversary Proceeding Filings (7 new filings today)
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Chapter 11 Bankruptcy Case Studies
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Mass Torts:

McKinsey Faces US Criminal Probe Over Opioids Work, Sources Say
(DBN)

US archdiocese must submit clergy-abuse documents to police State Police want everything the New Orleans Archdiocese has on clergy abuse
(DBN)

Against Bankruptcy; Bankruptcy by Another Name
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A Dilemma In Mass Tort Bankruptcies: Maximizing Value v. Wreaking Vengeance (In re Bestwall)
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Subchapter V:

Subchapter V Debt Limit: Don’t Get Caught Assuming Congress Will Act (It Probably Will…But Still)
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Aviation:

LATAM scraps plan to acquire Boeing B737s after talks end with bankrupt Gol
(DBN)

Boeing reports better-than-feared quarter, says supply chain is stabilizing amid 737 Max crisis Boeing can't boost 737 MAX production without improving quality, Buttigieg says Boeing Leaders’ Windfall Predates New Safety Goals Tied to Pay Victims' families to urge US prosecute Boeing over fatal crashes
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Southwest cuts growth plans, warning effect of Boeing airplane delays will last into 2025 Southwest Airlines to exit certain airports as loss widens and revenue falls short
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Biden issues new rules for airlines to require automatic cash refunds, prohibit surprise fees Airlines Must Now Pay Automatic Refunds for Canceled Flights
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Food/Beverage:

A wave of bankruptcies hits the restaurant industry
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Dom’s Kitchen and Foxtrot close abruptly, bringing end to high-flying expansion plans
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Red Lobster seeks a buyer as it looks to avoid bankruptcy filing
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Healthcare:

Clinical lab operator Labcorp to buy bankrupt genetic test maker Invitae for $239 million Lab testing giant snags genetic testing pioneer Invitae in Bankruptcy Court bid
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State officials are bracing for Steward Health Care to possibly file for bankruptcy and change top management
(DBN)

The breathtaking lifesaving impact of vaccines, in one chart
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Hospitals at center of Supreme Court’s next abortion battle 5 things to know Supreme Court appears skeptical that state abortion bans conflict with federal health care law
(DBN)

New California rule aims to limit health care cost increases to 3% annually
(DBN)

Relatives of those who died waiting for livers at now halted Houston transplant program seek answers
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Distressed Investing:

Has the Seventh Circuit Opened the Door for Distressed Investors through Limiting the Risk of Failed LBOs or Other Stock Sales?
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Utilities:

Hawaii’s Ambitious Renewable Energy Plan Is Threatened By HECO’s Uncertain Future
(DBN)

California Now Has so Much Solar Power that Electricity Prices Are Going Negative During the Day
(DBN)

Utility That Bribed Ohio Regulators Secretly Bankrolled Republican Mike DeWine’s 2018 Gubernatorial Bid, Records Show
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Fashion:

Burberry, Gucci and Prada among Matchesfashion creditors owed £36 million Global labels among Matches creditors to get back very little, offers come in
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Politics:

How the House GOP’s Biden impeachment effort fell apart
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Trump brothers Eric and Don Jr. emerge as loyalty czars
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The Nonexistent Link Between Mailed Ballots and Voter Fraud
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Haley attracts more than 150K votes in Pennsylvania GOP primary, weeks after dropping bid Donald Trump Suffers Huge Vote Against Him in Pennsylvania Primary Trump can't shake lingering primary protest votes in Pennsylvania
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How Mike Johnson Is Taming Trump and His Party — Against All Odds Johnson: Republicans ‘don’t have a functioning majority’ in the House
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Marjorie Taylor Greene makes wild claim that Democrats want Trump to be ‘murdered in jail’ GOP senator: Greene ‘dragging our brand down’
(DBN)

'This guy would be in jail already': German reporter reveals how people abroad see Trump
(DBN)

Conservatives aim their fire at Texas Republican after ‘scumbags’ comment
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Lara Trump says RNC will have people ‘who can physically handle’ ballots on Election Day
(DBN)

House Democrats upend GOP's early 2024 fundraising dominance
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Christie says Biden ‘stupid’ for not reaching out to him
(DBN)

Biden leans into courting union workers by bashing Trump: ‘He looks down on us’
(DBN)

Biden, Trump deadlocked in new national survey
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Trump's warning signs in suburbia
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Bleach blond? Biden mocks Trump's hair in personal barb Biden mocks Trump on anniversary of COVID bleach controversy
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Senate GOP ready to defy Trump
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Centrist Democrats want to refocus on border security
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Americans in new poll split on foreign aid package
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10 senators helped advance Ukraine aid after voting against it George Will: House Republicans voted to endanger ‘civilization’ with Ukraine aid opposition
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How McConnell and Schumer beat hardline conservatives on Ukraine McConnell's victory lap on Ukraine aid
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New Jersey Rep. Donald Payne Jr. dead at 65
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Why narrow majorities and House gridlock are here to stay in 2024
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DeSantis blames congressional Republicans for failure on U.S. southern border
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Meet the Man MAGA America Wakes Up To
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How Donald Trump Gets His News
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Pastor Blasts Trump Bible, Christian Nationalists
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George Santos drops third-party bid for Congress
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Mike Pence: latest presidential campaign deadbeat?
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Canada:

Much Ado: Evaluating the Collective Agreement Amendments in the BIA and CCAA
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Fine-Dining Institution Mallard Cottage Faces Prospect of Bankruptcy
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Russia:

The US secretly sent long-range ATACMS to Ukraine — and Kyiv used them
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Biden says the US is rushing weaponry to Ukraine as he signs a $95 billion war aid measure into law
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Biden admin isn’t fully convinced Ukraine can win, even with new aid
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Pope Francis calls for peace in Ukraine, Gaza: ‘A negotiated peace is better than a war without end’
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MENA:

Hamas publishes propaganda video of Israeli-American hostage Hersh Goldberg-Polin
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Hamas chief Sinwar exited tunnels, met with terrorists aboveground - report
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Israel says it is poised to move on Rafah Reserve Brigades Called Up Ahead of Expected Rafah Offensive - WSJ Top Israeli and Egyptian officials secretly meet to discuss possible Rafah invasion
(DBN)

Support for US Aid to Israel Plummets Among Swing-State Voters
(DBN)

Iran Sentences Popular Rapper To Death For Backing Protests
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U.S. envoy says humanitarian situation in Gaza improved, but famine risk remains
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Argentina:

With public universities under threat, massive protests against austerity shake Argentina
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Germany:

German Real Estate Firm Adler Reaches Agreement With Lenders
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New Zealand:

Ex-horse trainer sentenced on bankruptcy, Covid subsidy offending
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France:

Atos says it will need more cash than expected
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Brazil:

Ex-Banker Fixing Americanas’ $5 Billion Fraud Aims For ‘Equally Distributed’ Pain
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