December 27, 2024

The Daily Bankruptcy News

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Law:

Boutique Law Firm Announces Big-Time Bonuses On Christmas Eve
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Alston & Bird Matches Market Rate for Associate Bonuses
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US legal industry's China retreat gained steam in 2024
(DBN)

Bottoming Out or Merging Up? Law Firms That Shuttered in 2024
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And You Thought You Hated Christmas...
(DBN)

Seeking To Expand Access To Justice, Washington State Pilot Will Allow Non-Lawyer Entities To Practice Law
(DBN)

The Tech Built by Law Firms in 2024
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Sebastian Zapeta-Calil, accused of burning woman to death on NYC subway, often ‘bugged out’ after smoking K2, shelter roommate says
(DBN)

Expect a quieter Jan. 6 this time around — as long as Republicans avert a looming speakership crisis
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Guatemala open to accepting Trump's Central American deportees, sources say
(DBN)

Trump border czar floats halfway houses for children of migrants Family detentions to return in migration crackdown, says Trump ‘border czar’
(DBN)

Rudy Giuliani dresses up as Santa with woman on lap in bizarre Christmas ad Rudy Giuliani tells judge ‘I gave everything I have to give’ as he braces for contempt hearing
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Jack Smith's team preparing now for Trump retribution extending even to spouses: report
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NY judge rules woman who accused Jay-Z of raping her when she was 13 can remain anonymous — for now
(DBN)

Oxford school shooter's mom, Jennifer Crumbley, asks judge to release her from prison
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Buried gun, rare ammo lead to arrest in fatal road rage shooting — but not for the killing
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US appeals court again rejects blanket gun ban for non-violent felons
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Family that fled to US to avoid being 'ethnically cleansed' wiped out in murder-suicide
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Dad killed son after accusing son's fiancee of knowing about his wife's affair: Police
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'Unfathomable': Man attacked pregnant woman, continued as she went into labor, police say
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Woman shot husband dead, set his new truck on fire and tried escaping in a kayak: Police
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Demoted Ex-NYPD top cop kicked out by wife after tawdry sex-for-OT scandal exposé: sources
(DBN)

Chipotle customer attacks employee behind counter over order — then allegedly threatened to ‘stab’ him in online rant
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Drones with thermal imaging cameras locate elderly man lost in Malibu
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New York governor orders firing of 14 prison workers after fatal attack on inmate
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Judges:

10th Circuit's chief judge dismisses misconduct complaint against judge for presentations to political group
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Newman Accuses Fed. Cir. of Concealing Files to Control Media
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Wall Street:

All these market indicators point to stocks struggling during Trump’s presidency
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Layoffs:

 

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Crypto:

Former FTX executive Ryan Salame has prison release date moved up by more than a year
(DBN)

6 factors that could make or break crypto in 2025: Citi
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Personal Finance:

6 things you could be doing wrong if you're struggling to get a job
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Meet the millionaires next door who grew their wealth without a superstar job or get-rich-quick tricks
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Older Americans share their biggest financial regrets from their parenting years
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Retailing:

December's mini-retail apocalypse rounded off a rough year for US stores
(DBN)

I went to Big Lots. I didn't see a reason to go back, which might explain why the chain is fighting to stay alive
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Holiday retail sales rise 3.8%, Mastercard says
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Saks Officially Acquires Neiman Marcus for $2.7 Billion
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Autos:

The 'godfather of EVs' explains why China is winning the race to go electric — and why hybrids are a 'fool's errand'
(DBN)

For Honda, a Nissan Rescue Comes With Only a Thin Silver Lining
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Tech:

The creator economy is hitting an inflection point in 2025: Will TikTok get banned, and will MrBeast continue his rise?
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From passwords to medical records,10 things to never say to AI bots
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What to expect from AI in 2025, according to industry leaders
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Apple on verge of becoming first $4 trillion company
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Tech dollars flood into AI data centers
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Musk, Ramaswamy defend Silicon Valley’s foreign-born hires With Musk ascendant, Congress eyes new path for high-tech immigrants
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Climate:

Hochul signs law requiring fossil fuel companies to pay for natural disaster cleanup
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New York to fine fossil fuel companies $75 billion under new climate law
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How close are we to positive climate tipping points?
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Climate crisis exposed people to extra six weeks of dangerous heat in 2024
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Healthcare:

Brown Rudnick Creates Chapter 11 Plan to Resolve Tehum Care’s Bankruptcy
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A health care provider that faced dozens of prisoner lawsuits is filing for bankruptcy
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Whooping cough cases approach near record numbers
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Bird flu virus shows mutations in first severe human infection in US, CDC says
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Economy:

Jobless Claims Fall Slightly, But Continuing Claims Hit 3-Year High New US jobless claims slip, but people are remaining unemployed for longer Weekly Initial Unemployment Claims Decrease to 219,000
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Americans end 2024 feeling pessimistic about the U.S.
(DBN)

3 ways a trade war with China could hit US profits, according to Goldman Sachs
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More and more Americans are becoming 'ALICEs.' They can't afford rent and groceries but are falling through the cracks in the country's safety net.
(DBN)

Gen Z Cashiers Can't Recognize Real Cash, Think They're 'Counterfeit'
(DBN)

7 Workplace Norms That Gen Z Rejects
(DBN)

Steve Davis was Elon Musk's confidant at SpaceX and Twitter. He's now ready to help the billionaire cut costs at DOGE ‘Sup, DOGE! You should meet RIC, the Regulatory Improvement Commission. DOGE doubles down on eliminating the government agency that's cracking down on overdraft fees
(DBN)

The world's richest people are worth far more today than in 2000 — but most of the names on the list have changed
(DBN)

Guaranteed basic income isn't a silver bullet, says the lead researcher behind Sam Altman's major study
(DBN)

Mastercard Reveals What Americans Spent The Most on During The 2024 Holidays A look at what drove the gain in holiday spending this year
(DBN)

Texas leads nation in population growth
(DBN)

"Dire shortage": Elon Musk sparks MAGA backlash after calling for more immigrant workers
(DBN)

Courts Develop Hardship Test for Worker Religious Accommodations
(DBN)

US Debt Clock
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World Debt Clock
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Real Estate:

Mortgage rates rise for second straight week, highest since July
(DBN)

Jeff Bezos' Miami neighbor bought an empty lot for $27.5 million. Now, they're asking $200 million — and it's still vacant.
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Municipalities:

Moody's says Chicago's 2025 budget doesn't change credit trajectory
(DBN)

Colorado metro district technical defaults accelerate
(DBN)

America’s Biker Capital: Paradise for Riders, Hell for Leaders
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Oil/Gas:

A turning point in EV dominance is coming in 2025, report says
(DBN)

US Oil Exports to China Dwindle as Demand Wanes, Buying Shifts
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Politics:

Trump and Biden share contrasting holiday messages
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MAGA civil war breaks out over American "mediocrity" culture
(DBN)

Trump's first day frenzy: Everything he promised to do on "day one" 'Red meat for MAGA': Trump said to be prepping 'early shock-and-awe campaign' in new term
(DBN)

How Schumer is prepping for Trump 2.0 Chuck Schumer Reveals Stealth Dem Plan to Block MAGA Revolution Chuck Schumer says Biden-appointed judges will be bulwark against Trump
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Expert Warns Trump's Energy Pledges Could Come Back to Haunt Him
(DBN)

Congress has the power to block Trump from taking office, but lawmakers must act now
(DBN)

Denmark bolstering Greenland defense after Trump ownership comments Wasserman Schultz slams Trump’s 'preposterous' calls to seize Panama Canal, Greenland 'None of this makes any sense': CNN guest stumped by new wave of Trump attacks Panama Canal is not for sale, Panama's president says. What to know about the canal's history and status Democrat Congresswoman Calls Trump's 'Preposterous' Play For Panama Canal A Bid to Please Billionaires Panama President Refutes Trump’s Claim of Chinese Meddling in Canal The Canal is off the table: Latin America closes ranks with Panama in face of Trump’s threats ‘Shark Tank’ star says half of Canadians favor Trump’s proposal for Canada to join the US
(DBN)

Americans are exhausted by political news. TV ratings and a new AP-NORC poll show they’re tuning out
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Donating $1 million to Trump's inaugural fund is the latest trend for CEOs and companies
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Elon Musk sets up MAGA world civil war with big Robert F. Kennedy Jr. dispute Elon Musk Dramatically Puts MAGA Split With RFK Jr. on Display
(DBN)

Chemtrail conspiracy theories: why RFK Jr is watching the skies
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Fact Check: Does China Control the Panama Canal, as Trump Suggests?
(DBN)

Trump has pressed for voting changes. GOP majorities in Congress will try to make that happen
(DBN)

Laura Loomer Faces Backlash for Comments About Indians Amid H-1B Visa Debate
(DBN)

68-year-old congresswoman says she's retiring to 'set a better example' amid concern over aging politicians Retiring Dem Congresswoman Fires Harsh Parting Shots at Biden, Trump and Colleagues Who ‘Just Stay Forever’ in Buzzy Exit Interview
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New York City braces for chaotic mayor’s race New York mayor clings to Trump as a lifeline amid legal troubles and immigration crisis
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Matt Gaetz Goes Off on Ethics Report in Emotional Tweetstorm: 'Giving Funds to Someone You're Dating Is Now Prostitution?!?'
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Hard-Right Freedom Caucus Takes Power in Wyoming
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A Razor-Thin House Majority Creates Headaches for Republicans
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Pharma:

Elon Musk dubs himself "Ozempic Santa" as weight-loss drugs go mainstream
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Shrinking waistlines and growing profits: the weight-loss drug boom
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Medicare $2,000 prescription drug cap starts Jan. 1
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Entertainment:

As Hollywood Struggles, the Region’s Economy Feels the Pain
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Sports:

7 San José State women's volleyball players leave program amid trans player controversy
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Radio:

Nearly 12 Months After Filing Chapter 11, Audacy Says It’s Ready To Exit Bankruptcy.
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Transit:

Hochul puts brakes on congestion toll’s extra ‘surge-pricing’ squeeze after fierce backlash
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Motorcycles:

KTM Faces Financial Crisis with 265,000 Unsold Motorcycles and Seeks Restructuring
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New Bankruptcy Opinions
(2 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (8 new filings today)
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Recent Ch. 11 Adversary Proceeding Filings (1 new filing today)
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Chapter 11 Bankruptcy Case Studies
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Bankruptcy Statistics:

These US retailers and restaurants fell to bankruptcies, closings in 2024
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Mass Torts:

Catholic Diocese's Road to Renewal hits home
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Diocese of Oakland funneled millions into fund to avoid abuse payout, filing claims
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Long Island Diocese Bankruptcy Exit Is Rare Success Amid Delays
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Litigation Finance:

Four Questions to Keep Litigation Funders Up at Night in 2025
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Aviation:

Flying Was Already the Worst. Then America Stopped Using Headphones.
(DBN)

Airlines’ wild 2024: From Boeing troubles to a bankruptcy and a merger
(DBN)

Kremlin warns against speculation that Russia shot down Azerbaijan Airlines flight NATO calls for investigation into Azerbaijan Airlines crash Plane crash probe in Kazakhstan underway as speculation mounts about possible Russian involvement Downed Azerbaijan Airlines flight riddled with shrapnel holes, troubling images appear to show Russian air defenses likely caused passenger jet crash that killed dozens What to know about the Azerbaijan Airlines plane crash
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Christmas shooting at Phoenix airport leaves 3 people wounded, 1 stabbed
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Airline hit by a cyberattack, delaying flights during the year-end holiday season
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Food/Beverage:

The Rise And Fall Of World Of Beer
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The Epic Mess at TGI Fridays
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Opera:

Syracuse Opera Company Files For Bankruptcy
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Education:

School vouchers remain a GOP priority even as voters reject them
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'Scary time': Trump's promise to bring back travel bans leaves some students anxious
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UK:

Hundreds of theatres and museums face closure as crisis in sectors laid bare
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Urgent warning for shoppers who use 28,000 retailers
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Counseling charity Relate set to be rescued from insolvency
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Russia:

Russia's economy is entering a year of pain in 2025
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Russia says it's using bitcoin to evade sanctions
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Ukraine’s military intelligence says North Korean troops are suffering heavy battlefield losses
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All Moscow airports mysteriously closed with no reason given
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Biden pledges more U.S. arms to Ukraine after Russia's Christmas attack
(DBN)

Putin Ally Reiterates Nuclear Warning: 'Any Means Necessary'
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Russians Offered One Million Rubles Per Child Amid Sinking Birth Rate
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China:

China Pressures Women To Help Avert Population Crisis
(DBN)

Chinese tricksters take cue from Squid Game to prey on the indebted
(DBN)

China's finance, realty workforce shrinks first time in over five years
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MENA:

Israelis See Chance to Remake Middle East in War’s Wake Will Israel's Wars in the Middle East End in 2025?
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Window closing for Gaza hostage-ceasefire deal before Trump takes office
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Accusations of genocide. Charges of corruption. Improbably, Netanyahu had a good year Israel’s attorney general orders probe into Netanyahu’s wife on suspicion of witness harassment
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Syria says 14 policemen killed in ambush by forces loyal to al-Assad
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Syrian Government Forces Hunt for a Senior Assad Official
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Syria's new rulers warn against incitement as tensions brew
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Israel’s plan to double the number of settlers in the Golan Heights is met with conflicting emotions
(DBN)

Israel launches waves of attacks across Yemen in retaliation for Houthi missile and drone strikes
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The US says it pushed retraction of a famine warning for north Gaza. Aid groups express concern.
(DBN)

A baby froze to death overnight in Gaza as Israel and Hamas trade accusations of ceasefire delays
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South Korea:

South Korea's Population Faces Point of No Return
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South Korean lawmakers impeach acting president Han Duck-soo
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Mexico:

How Mexican Cartels Test Fentanyl on Vulnerable People and Animals
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The red line that Trump wants to cross in the fight against Mexican cartels
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India:

Slew of laws likely in 2025 to fix insolvency
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India Sees Economic Growth at 6.5% for the Year Through March
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Netherlands:

Another bicycle manufacturer files for bankruptcy in the Netherlands
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