December 4, 2024

The Daily Bankruptcy News

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Law:

Overall partner promotions shrink slightly, including for BigLaw firm that promoted 200 lawyers
(DBN)

Associate Compensation Scorecard: Biglaw's 2024 Bonus Boom
(DBN)

Boutique Trial Firm Pays Out Above-Market Bonuses!
(DBN)

How to Negotiate a Billion-Dollar Law Firm Merger
(DBN)

Good Luck Trying To Get Into This Law School
(DBN)

Kirkland & Ellis Brings Together Pro Bono Client And Attorneys For Actually Enjoyable Networking Event
(DBN)

Girardi Denied New Trial by Judge Who Says Dementia Exaggerated
(DBN)

Why Aren’t More Biglaw Firms Venturing Onto TikTok?
(DBN)

Senate Republicans giving Kash Patel a chance Trump FBI pick Kash Patel gets lukewarm reception from GOP senators Trump's pick for FBI director promoted bogus supplements to 'reverse' vaccines
(DBN)

Citing Hunter Biden pardon, Trump’s lawyers file motion to toss New York conviction Trump cites Hunter Biden pardon and Clarence Thomas in bid to end hush-money case
(DBN)

Cop worked as 'double agent' with Proud Boys in lead-up to Jan. 6 riots: Feds
(DBN)

Trump argues he has presidential immunity now, as president-elect
(DBN)

Judge nixes former Trump aide's bid to dodge questions in Jan. 6 lawsuit
(DBN)

Must Hunter Biden’s indictment be dismissed after presidential pardon? Special counsel doesn’t think so
(DBN)

Dinesh D'Souza Is Not Sorry For Lying. Is Maybe Sorry You Feel Harmed By His Lies.
(DBN)

Fani Willis harshly chastised by judge for violating open records laws
(DBN)

Trump Connections Give Edge to Big Law Firms Seeking Influence
(DBN)

California Preps To Take The Legal Fight To Donald Trump
(DBN)

How Free Is New Hampshire? A Fight Over Doughnuts Is About to Decide
(DBN)

‘They’re Eating the Cats’: American Woman Jailed in Ohio
(DBN)

The trans lawyer fighting for children to get puberty blockers at the Supreme Court
(DBN)

Michigan Republican Wants to 'Make Gay Marriage Illegal Again'
(DBN)

Can Donald Trump Pardon Daniel Penny? What We Know
(DBN)

Kohberger not likely to avoid death penalty if convicted of Idaho college student murders
(DBN)

Young Thug Trial Update: Final Two Defendants Found Not Guilty of Murder
(DBN)

Texas is offering land for Trump mass deportation facilities
(DBN)

Students bullied girl into suicide attempt, went to hospital afterward to take pics: Suit
(DBN)

Vet killed husband, shot him 'multiple times' in back after he filed for separation: Cops
(DBN)

Sugar heir arrested for attacking girlfriend after being seated by gay couple
(DBN)

Felony Charge Over Dipping Sauce Dispute
(DBN)

Former New Orleans priest pleads guilty to rape and kidnapping in sexual abuse case ahead of trial
(DBN)

Family livid man who slapped boy with autism for damaging Mercedes may avoid jail time
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TikToker who posted stolen Target haul to followers arrested again for second theft: Cops
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Judges:

New SCOTUS Leak Reveals Who Didn’t Want Ethics Rules Enforced Inside the Supreme Court Ethics Debate: Who Judges the Justices?
(DBN)

Judge in Hunter Biden tax case rebukes president’s claims of unfair treatment
(DBN)

Supreme Court Case Compared to 'Dobbs-Style Earthquake' for Trans People Supreme Court's big trans rights case could come down to Gorsuch Key events that led to SCOTUS case on gender-affirming care
(DBN)

Supreme Court wrestles with Hungary’s effort to end Holocaust survivor lawsuit
(DBN)

Trump’s Next Supreme Court Pick Could Be One of These Four Judges
(DBN)

Transgender Judges Remain Rare Despite Biden Diversity Push
(DBN)

Notre Dame has become a pipeline for SCOTUS clerkships and a magnet for justices
(DBN)

Judge acknowledged his ‘profane outburst’ shocked himself, Florida court says in imposing suspension
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Wall Street:

 

Dow futures jump 200 points, led by Salesforce surge
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Layoffs:

America’s biggest private company is laying off thousands of workers
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Batteries:

Who are bankrupt Northvolt's creditors? Northvolt's Bankruptcy: A Shocking Turn for the EV Battery Pioneer
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Utilities:

Californians pay billions for power companies’ wildfire prevention efforts. Are they cost-effective?
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Fraud:

Is Enron back? If it’s a joke, some former employees aren’t laughing What we know about the company representing itself as Enron Enron has been resurrected in what appears to be an elaborate joke
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Politics:

Joe Biden ducks questions on his decision to pardon his son Hunter ‘It’s a Sad Statement About Where We Are’: A Pardon Expert Explains Biden’s Decision to Pardon His Son Joe Manchin Weighs In With Dumbest Take Yet On Pardonghazi Democrats openly criticize Biden’s pardon: ‘No family should be above the law’ Newsom becomes the most prominent Dem to break with Biden over son’s pardon Hunter Biden judge slams president’s effort to ‘rewrite history’ of son’s tax crimes Some Democrats left fuming over Biden’s decision to pardon son Judge Dismisses Hunter Biden's Gun Case After President Biden's Pardon Congress hands Biden a huge Hunter-driven pardon wishlist The extraordinary breadth of Hunter Biden’s pardon Will Joe Biden Pardon His Brother Next? What We Know Who Has Joe Biden Pardoned? Full List Hunter pardon reignites talk of rogue Biden impeachment push Hunter Biden pardon deepens Dems' identity crisis Jon Stewart mocks Dems, Fox News on Hunter Biden pardon President Biden bypassed Justice Department in pardoning son Hunter: court records Chuck Todd: The Trumpification of Joe Biden
(DBN)

Trump's shadow presidency clouds Biden's final weeks
(DBN)

Trump's children won't have White House roles in his second term
(DBN)

Thune plans sweeping bill on the border, defense and energy in Trump’s first 30 days
(DBN)

Democrats' last House win locks in brutally small GOP majority California Democrat Adam Gray unseats Republican as last House race decided
(DBN)

Trump agrees to DOJ background checks on administration nominees, appointments Despite agreement, Trump nominees may seek to avoid FBI background checks
(DBN)

Hegseth starts to branch out to shore up Pentagon bid Fox News ignores Pete Hegseth misconduct allegations as concerns over Trump pick mount Lindsey Graham Calls Pete Hegseth Reports ‘Very Disturbing,’ Confirmation Will Be ‘Difficult’ GOP senators defend Hegseth after private meeting Trump Mulls Replacing Pete Hegseth With Florida Gov. Ron DeSantis - WSJ
(DBN)

Gabbard seen as tough lift for Trump in Senate GOP
(DBN)

Trump picks billionaire investor as Pentagon deputy
(DBN)

Zuckerberg seeks role in White House tech policy
(DBN)

Trump EPA pick Lee Zeldin begins meeting with senators
(DBN)

Trump's DEA pick withdraws from consideration
(DBN)

The man with a plan to upend government, and what it entails
(DBN)

Why Trump FBI Pick Kash Patel Has QAnoners in a Frenzy
(DBN)

Gen Z Swung to the Right Because of Money Woes, Survey Finds
(DBN)

Woman Pleads Guilty to Eating Cat in Crime That Sparked Springfield Claims
(DBN)

Schumer reelected as Senate Democratic leader
(DBN)

Ken Martin, in DNC bid, calls for ‘massive narrative and branding project’ for Democrats Tom Vilsack on Democrats’ Rural Woes: ‘You Gotta Be Selling a Vision’
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Climate:

Scientists Behind ‘Net Zero’ Concept Say Nations Are Getting It Wrong
(DBN)

Lake-effect snows continue to bury Northeast after Thanksgiving weekend
(DBN)

NASA Images Show Antarctica Getting Greener As Ice Melts
(DBN)

Big climate questions arise at top UN court hearing
(DBN)

Sustainable Bond Sales Hit 11-Month Low as Issuers Retreat
(DBN)

Bankers Find Way to Claim Credit for Avoided Emissions
(DBN)

South African Court Says State Can’t Order New Coal Plants
(DBN)

Indonesia Must Shut Coal Plants Every Year to Hit Climate Goal
(DBN)

A surprise solar boom reveals a fatal flaw in our climate change projections
(DBN)

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Economy:

2025's economy is up in the air with inflation bumps
(DBN)

More Workers Feel Stuck on the Job
(DBN)

'It is awful': Gen Z is racking up historic levels of credit card debt
(DBN)

World Is Facing Dangers From Trade to Debt, OECD Warns
(DBN)

Fed’s Daly Says December Aside, Rates Should Continue Falling
(DBN)

US Debt Ceiling to Over Complicate Fed’s Balance-Sheet Runoff
(DBN)

Trump’s Treasury Pick to Meet Thune, Key Senators on Confirmation
(DBN)

The economic clashes looming in Trump 2.0
(DBN)

Trump’s tariff threats create division between Canada and Mexico over security at borders
(DBN)

The Massive Clue That Donald Trump’s Threats Are All BS Wall Street isn’t buying Trump’s deportation threats or Elon Musk’s spending cut claims Elon Musk Department Says Illegal Immigration Costs Taxpayer $150.7 billion Elon Musk Says He Rewatched 'Office Space' To Prepare for DOGE Rahm Emanuel: Democrats should ‘welcome’ Musk’s DOGE commission Chart of the Day: Unauthorized Spending
(DBN)

Map Shows US States with the Highest Unemployment Rates
(DBN)

House Republican: ‘Hard decisions’ needed on Social Security, Medicaid, Medicare 'Have the stomach': Republican claims Dems need to back Social Security and Medicare cuts GOP and Musk unveil a threat to Social Security
(DBN)

The Social Security Fairness Act is incredibly irresponsible
(DBN)

U.S. looks to end subminimum wage for workers with disabilities
(DBN)

Trump's immigration crackdown could reduce caregiving workforce
(DBN)

Congress faces shutdown dilemma that could mess with Trump's first 100 days
(DBN)

GOP’s ambitious budget plan faces internal divisions
(DBN)

Project 2025 wants to slash green subsidies. Here's how that would affect Texas jobs, energy bills
(DBN)

US Debt Clock
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World Debt Clock
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Real Estate:

The most expensive US property for sale is a mere $295m – and likely to flood
(DBN)

Australia has hit on a genius way to take the guesswork out of homebuying
(DBN)

Rents in Southern and Sun Belt cities are falling after they built a ton more apartments
(DBN)

The US housing market won’t change much in 2025 — with one major exception
(DBN)

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Municipalities:

Oakland receives Fitch downgrade as city flirts with insolvency
(DBN)

San Francisco Expects $876 Million Budget Deficit, Warns of Cuts
(DBN)

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Oil/Gas:

Independence Contract Drilling Files for Chapter 11 Bankruptcy
(DBN)

Exxon Taps Low Carbon Chief to Lead Key Oil and Gas Division
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Religion:

Young men leaving traditional churches for ‘masculine’ Orthodox Christianity in droves
(DBN)

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Retailing:

Nearly 30% of US drugstores closed in one decade, study shows
(DBN)

Porch Pirates Steal So Many Packages That Now You Can Get Insurance
(DBN)

US Thanksgiving weekend records 197 million shoppers, retail body says
(DBN)

Dollar stores are struggling to win over bargain hunters — here’s why
(DBN)

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Crypto:

Texas Crypto Miners Must Now Register With State
(DBN)

Coinbase CEO Threatens Law Firms Over Government Hires
(DBN)

Celsius founder Alex Mashinsky intends to plead guilty to two fraud counts ‘Somebody Is Lying’—Celsius’ Alex Mashinsky Comment Returns as He Admits to Fraud
(DBN)

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Autos:

General Motors is taking a $5 billion-plus hit on its operations in China
(DBN)

GM to sell its stake in Michigan battery plant to LG Energy Solution
(DBN)

Thieves steal nearly $200k worth of cars, forcing dealership owner to close business
(DBN)

For EV Startups, Things Are Going From Bad to Worse
(DBN)

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Tech:

Bankrupt Fluid Truck leaves Denver offices, reveals $35M in debt
(DBN)

AI, huge hacks leave consumers facing a perfect storm of privacy perils
(DBN)

Intel's ousted CEO Gelsinger to receive up to $12 million payout Intel ruled tech. Now it’s in deep trouble
(DBN)

This is the biggest AI winner two years after ChatGPT’s debut — and it’s not Nvidia
(DBN)

Trump’s Truth Social Posts Fail to Deliver Big Traffic Surge
(DBN)

AQR’s Cliff Asness Says AI Has Now Taken Over Parts of His Job
(DBN)

Elon Musk Hides X Engagement Figures Amid User Exodus
(DBN)

Hackers pivot from data breaches to total destruction
(DBN)

US Outpaces China, Leads Global AI Innovation Ranking
(DBN)

Meta seeks nuclear power developers for reactors to start in early 2030s
(DBN)

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Food/Beverage:

Why it feels like so many restaurants are declaring bankruptcy
(DBN)

Fate of Cheetos revealed after manufacturer files for bankruptcy
(DBN)

California suspends Raw Farm raw milk products amid bird flu concerns
(DBN)

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Solar:

Millions of Stockpiled Solar Panels in US Face New Tariff Bill
(DBN)

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Water:

California cuts back on water deliveries, anticipating dry year ahead
(DBN)

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Healthcare:

15 healthcare bankruptcies in 2024
(DBN)

Former SmileDirectClub customers may be eligible for a refund
(DBN)

Steward questions Meadville Hospital's ability to buy Sharon Regional
(DBN)

After years in limbo, thousands of St. Joseph pensioners will see benefits covered for life
(DBN)

House COVID-19 panel releases final report: 3 key takeaways Democrats push back on Republican COVID-19 report
(DBN)

Idaho can enforce ban on aid to minors who leave state for abortions, with one exception, 9th Circuit says Federal appeals court resurrects most of Idaho's 'abortion trafficking' law
(DBN)

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Fashion:

In a First, Transgender Woman Wins Model of the Year
(DBN)

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Solar:

US Solar Installs Facing Flat Growth — and That’s Before Trump
(DBN)

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Cannabis:

How weed won over America
(DBN)

Schumer's pot bust
(DBN)

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Turnarounds:

And the Winner Isn’t—Behold Intel, CVS, and More of the Ugliest Turnaround Attempts of 2024
(DBN)

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Bioenergy:

Colorado’s first biomass energy plant closed, set for auction as owner files for bankruptcy protection
(DBN)

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Education:

US College Closures Are Expected to Soar, Fed Research Says
(DBN)

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New Bankruptcy Opinions
(6 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (174 new filings today)
(DBN)

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

Chapter 11 Bankruptcy Case Studies
(DBN)

Corporate Governance:

Delaware Judge Who Rejected Musk’s Payday Faces Backlash
(DBN)

Elon Musk's net worth balloons despite court rejecting Tesla pay package
(DBN)

Will Delaware Corporations Be “Leaving for Las Vegas”?
(DBN)

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Property of the Estate:

Judge Rules SPAC Trust Account Sacred for Public Shareholders and Not Property of the Estate
(DBN)

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Exemptions:

Waiting For 11 Years After Chapter 7 Discharge to Notify Debtors Of Payment Obligations On Homestead?! (Campos v. Dyck)
(DBN)

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Tax:

Justices debate IRS’s claim on pre-bankruptcy tax payments
(DBN)

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Mass Torts:

Alleged child sexual abuse settlement with Diocese of Rockville Centre one step closer to reality
(DBN)

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Sanctions:

Byju’s Content Manager, Business Partner Face US Court Sanctions Byju's Saga: Two Execs Face US Sanctions; Lenders Demand Accountability in $1.2 Billion Debt Battle
(DBN)

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Cross-Border:

UNCITRAL Model Law on cross-border insolvency, with a focus on the USA
(DBN)

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Aviation:

These Airlines Saw the Most Delays and Complaints in 2024
(DBN)

Delta Air Lines refused to transport stowaway back to the US, Paris airport official says
(DBN)

Airline executives set to defend seat fees before Senate panel
(DBN)

A KLM Boeing 777 turned around over the Atlantic, leaving passengers on a 4-hour flight to nowhere
(DBN)

FBI Investigating Mysterious Nightly New Jersey Drone 'Cluster'
(DBN)

Estonian airline Nordica formally files for bankruptcy
(DBN)

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Rail:

More people are riding Amtrak than ever before, and improvements are on the way
(DBN)

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Theme Parks:

SeaQuest files for bankruptcy following accusations of animal abuse, neglect
(DBN)

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Sovereigns:

World Bank Calls for Debt Relief as Funds Flee Poor Countries
(DBN)

Bank of America Expands Debt-Swap Footprint With Ecuador Deal
(DBN)

China becomes Pakistan’s largest creditor with $29bn loans
(DBN)

Developing Nations Pay Record $1.4T in 2023 Debt
(DBN)

Developing Countries Face Record Debt Costs Amid Interest Rate Surge
(DBN)

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UK:

Ipswich law firm strengthens its insolvency team
(DBN)

Thames Water creditors block use of $3.8 billion loan for fines
(DBN)

Navigating Cross-Border Bankruptcy: The UK Supreme Court’s Judgment in Kireeva v Bedzhamov [2024] UKSC 39
(DBN)

Bank of England’s Bailey signals four interest rate cuts in 2025 if inflation cools
(DBN)

UK Businesses Narrowly Avoid Contraction, Revised PMI Shows
(DBN)

UK Fiscal Stance Unsustainable Without More Tax Rises, OECD Says
(DBN)

Americans Need Permission to Enter UK in 2025
(DBN)

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EU:

ECB’s Holzmann Says Any Rate Cut Next Week Will Be ‘Moderate’ ECB’s Rehn Sees More Grounds for December Interest-Rate Cut
(DBN)

EU Aid for EV Batteries Seeks to Stave Off Chinese Competition
(DBN)

EU Needs Common Debt to Remain Competitive, ECB’s Panetta Says
(DBN)

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France:

Macron makes a daring new overture to Trump
(DBN)

France’s political chaos casts long shadow over economic growth
(DBN)

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Germany:

SS death camp guard, 100, ordered to stand trial accused of 3,300 Nazi Holocaust murders
(DBN)

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China:

China bans outright the sale of materials for chip and battery production to the US
(DBN)

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South Korea:

South Korea’s Yoon Declares Martial Law in Emergency Address Why has South Korea's president suddenly declared martial law? South Korean president declares martial law and accuses opposition of ‘anti-state’ activity South Korea declares martial law for first time in 50 years over North Korea threat? South Korea's Martial Law Not Linked to North Korea Attack Fears—Official Yoon did not say what specific measures would be taken South Korea parliament votes to defy president, lift martial law order South Korean president, parliament clash over martial law: 5 takeaways South Korean stocks rocked in U.S. trading as country plunges into political chaos What to know about South Korean President Yoon Suk Yeol South Korean president to lift martial law after own party voted against it South Korea’s opposition moves to impeach President Yoon Suk Yeol after martial law declaration South Korea rushes to stabilize markets after Yoon's martial law bid Gamble Gone Bad Upends Trader Perception of Korea and Beyond South Korea's largest labor union launches an indefinite strike and calls for the president's resignation
(DBN)

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MENA:

Israeli leaders applaud Trump pledge on hostages, Gazans fear the worse
(DBN)

Palestinians say Hamas and Fatah are close to an agreement on a committee to administer postwar Gaza
(DBN)

Syria's rebels are targeting Putin
(DBN)

Iran ramps up nuclear program, close to weapons-grade: UN
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Russia:

Donald Trump nominated for Nobel Peace Prize by Ukrainian lawmaker
(DBN)

Putin Ally Predicts Nuclear 'Radiation Zone' Could End War in Ukraine
(DBN)

Ukraine pushes NATO membership as allies sidestep invite call
(DBN)

Russia’s Putin implicated in forced removals of Ukrainian children: Report
(DBN)

Ukraine ceasefire terms come into focus as Trump returns
(DBN)

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Sweden:

Children carry out surge of contract killings as Swedish gangs exploit loophole in the law
(DBN)

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Vietnam:

Vietnam court says tycoon must repay embezzled billions to avoid execution
(DBN)

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Cuba:

How Cuba fooled the U.S. to get millions of dollars from Miami for its armed forces
(DBN)

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Argentina:

Laffer Tells Argentina ‘Get It Done Now’ on Capital Controls
(DBN)

Why Donald Trump and Javier Milei Are Worlds Apart on Austerity
(DBN)

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Brazil:

Brazil regulator fines ex-CEO of Americanas over accounting scandal disclosure
(DBN)

Brazil’s InterCement Files for Bankruptcy as CSN Deal Fails
(DBN)

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India:

Ravinder Maini Takes Helm at Insolvency and Bankruptcy Board of India
(DBN)

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