December 5, 2024

The Daily Bankruptcy News

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Law:

This Biglaw Firm Is Sharing The Wealth Before Its Upcoming Merger
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Top 20 Biglaw Firm Announces Associate Bonuses -- It's A Match!
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Biglaw Signing Bonuses May Be Back In Action Come 2025
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Foley Summer Associate Fails to Show DEI Remarks Protected Job Muslim lawyer can’t sue over revoked BigLaw job offer based on this theory, federal judge rules
(DBN)

Calif bar considers campus protests in moral character review for lawyer licensing
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Horse-loving lawyer left the law to help run a Colorado ranch
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Top 25 Biglaw Firm Is The Latest To Shutter An Office In China
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Law School Thought Pregnant Women Not Like Us
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Just because teenagers can become lawyers doesn’t mean they should
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Kash Patel Labels Members Of Perkins Coie Partnership As 'Corrupt Actors Of The First Order' I listened to hours of Trump’s FBI pick on Steve Bannon’s podcast. Oh boy. Kash Patel once said he would 'come after' journalists. It now hangs over his FBI candidacy Kash Patel's America First Clothing Line is a Lie
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Trump Wants to Gut the ‘Deep State.’ But Civil Servants Defend Us All.
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Judge Orders Willis to Turn Over Correspondence
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Biden White House Is Discussing Preemptive Pardons for Those in Trump’s Crosshairs
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Kenneth Chesebro asks court to invalidate his guilty plea in Trump Georgia RICO case
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Giuliani misses deadline to respond to request he be held in contempt of court Rudy Giuliani blows off contempt response deadline in massive defamation lawsuit
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Trump asks Georgia Court of Appeals to fully steamroll Fani Willis and dismiss RICO case
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Body-cam shows police officer uses civilian bicycle to chase down suspect
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On the Border, Texas Shows Trump the Way
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County can’t prevent chartered deportation flights at airport, 9th Circuit rules
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Scared to stay in Mexico, afraid of Trump's policies, some migrants look to return home
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Millions of Mexican Americans were deported in the 1930s. Are we about to repeat this ‘ethnic cleansing’?
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Migrant caravans continue despite Trump’s threats
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Police illegally sell restricted weapons, supplying crime
(DBN)

Head of US’s biggest health insurer shot dead: manhunt for assassin Chilling moment assassin shoots dead UnitedHealthcare CEO Brian Thompson after laying in wait at Starbucks by hotel UnitedHealthcare CEO Brian Thompson fatally shot outside Hilton hotel in Midtown in targeted attack: sources Police: Killing of UnitedHealthcare CEO was a premeditated attack Citi Bikes Leave ‘Digital Exhaust’ That Could Help Track a Killer UnitedHealthcare CEO Brian Thompson was facing DOJ probe for insider trading when he was killed in targeted NYC shooting United Healthcare's Disturbing Record of Denying Claims Bitter Americans React to UnitedHealthcare CEO’s Murder: ‘My Empathy Is Out of Network’ UnitedHealthcare CEO’s assassin may have left message on bullets used in murder: sources
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Tennessee lawmaker appears to urinate on himself during DUI field sobriety test
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Florida woman runs good Samaritan into Wawa sign after he tried to help after crash: Cops
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Judges:

In bankruptcy judge romance scandal, Texas law firm loses privilege fight
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Key events that led to SCOTUS case on gender-affirming care Ketanji Brown Jackson Gets Suddenly 'Worried' About Supreme Court Decision Protests erupt outside Supreme Court ahead of a major puberty blockers hearing Supreme Court skeptical of challenge to Tennessee ban on transgender youth treatments Kagan chides state for dodging true purpose of transgender medical ban during SCOTUS args Supreme Court seems wary of blocking TN ban on trans care for minors A 2020 decision protecting transgender workers is a major precedent The horrifying implications of today’s Supreme Court argument on trans rights
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Gorsuch Recuses from Environmental Case With Argument Looming
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Federal Judiciary Misleadingly Conflates Low Number Of Sexual Harassment Complaints With Lack Of Misconduct
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Judge with propensity for hugging workers said he had ‘loose screws’ in head after thwarted kiss, ethics complaint says
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Judge Called ‘Political Hack’ for Unretiring Before Trump Return
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One justice was ‘especially vocal’ in opposition to enforcement mechanism for SCOTUS ethics code, report says
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CA Judge Engages In Public Rage Wank Over Hunter Biden Pardon
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Mitch McConnell's 'Brazen' Judicial Hypocrisy
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US Senate confirms Biden-picked judges in DC, Pennsylvania
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Wall Street:

Stock futures are little changed after S&P 500, Nasdaq notch new closing highs
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Layoffs:

U.S. employers' announced job cuts rise 3.8% in November, climb 27% Y/Y: Challenger Report
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Wells Fargo to trim Oregon workforce by 700 next year
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FedEx to layoff 340 workers in Raleigh and Durham as it cuts and closes shipping centers
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Airbus cuts 2,000
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Tech:

Silicon and supercomputers will define the next AI era. AWS just made a big bet on both.
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New Google AI weather model beats most reliable forecast system
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Home of Canada’s Oil Sands Chases $71 Billion Data Center Opportunity
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Healthcare:

Agreement buys time for Sharon Regional Sharon Regional safe for now but clock is ticking
(DBN)

Most Rural Hospitals Have Closed Their Maternity Wards, Study Finds
(DBN)

9 states poised to end coverage for millions if Trump cuts Medicaid funding States ranked by coverage losses if ACA subsidies expire
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These 26 States Have Restricted Gender-Transition Treatments for Minors Since 2021
(DBN)

What It Really Means to Get an Abortion After ‘Fetal Viability’
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Education:

U.S. Students Posted Dire Math Declines on an International Test
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Ohio Satanic Temple to offer religious program for elementary school students
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Retailing:

Shares of American Eagle plunge 13% as company issues weak holiday guidance
(DBN)

Amazon sued by DC attorney general for allegedly excluding neighborhoods from Prime delivery
(DBN)

Foot Locker shares tumble as it issues gloomy holiday outlook, sees ‘softness’ at Nike
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Climate:

The U.S. Is Building an Early Warning System to Detect Geoengineering
(DBN)

North Carolina Town Sues Duke Energy Over Climate Change
(DBN)

What Trump’s Cabinet Picks and Advisers Say About Climate Change
(DBN)

Arctic could be ‘ice-free’ by 2027 — Scientists warn we’re closer to disaster than we thought
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Student Debt:

Democrats are urging Biden to cancel student debt for thousands of borrowers before Trump takes office
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Student loan borrowers may find bankruptcy harder under Trump
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Sports:

LPGA and USGA announce new eligibility rules for transgender golfers
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Economy:

Fed Chair Powell Acknowledges Inflation Is a ‘Little Higher’ Than Expected Fed Sees Economy Solid, Inflation Easing as December Rate Cut Looms
(DBN)

Food prices are at their highest levels in over a year. And these items will get even more expensive
(DBN)

Wage Growth at Smallest US Firms Accelerates Most in Two Years
(DBN)

Fed’s Daly Says No Sense of Urgency to Lower Interest Rates Fed’s Musalem Says Time to Pause Rate Cuts May Be Near
(DBN)

Fed's Beige Book: "Economic activity rose slightly"
(DBN)

Fed’s Powell Expects Good Relations With Trump Administration
(DBN)

US Executives Turn Sharply Positive After Trump’s Win, Surveys Show
(DBN)

Republicans (Quietly) Disagree With Trump on the Fed Powell says he’s not worried about the Fed losing its independence under Trump
(DBN)

U.S. Treasury yields rise with investors eyeing jobs data
(DBN)

Chipotle says it's raising prices 2% in response to inflation
(DBN)

Private payrolls grew by 146,000 in November, less than expected, ADP says
(DBN)

It’s Taking Longer to Find a New Job in the US
(DBN)

ISM® Services Index Decreases to 52.1% in November US Services Activity Expands at Slowest Pace in Three Months
(DBN)

Bank of America's 2025 Forecast Is Rosy But Has Some Caveats. Here's Its Outlook for Inflation, GDP, and Rate Cuts.
(DBN)

Before DOGE, Ramaswamy spent years attacking Musk for ties to China
(DBN)

GOP lawmakers already divided over sweeping Trump policy bill
(DBN)

Will Trump's Tariffs Drive up Inflation?
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Trump Tax Cuts Won’t Help the Economy Grow, Budget Office Finds Past Trump Tariffs Hurt US Economy, Stocks, Research Finds
(DBN)

When Trump Threatens, Canada and Mexico Go Their Own Way
(DBN)

Everything Donald Trump Has Pledged to Change on Day 1
(DBN)

Elon Musk Works Congress as He Targets $2 Trillion Budget Chop
(DBN)

Watchdogs say world's richest man Elon Musk has 'declared war on Social Security' GOP and Musk unveil a threat to Social Security
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OECD slashes growth forecasts for Germany, France
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US Debt Clock
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World Debt Clock
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Real Estate:

MBA: Mortgage Applications Increased in Weekly Survey
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Inflation Adjusted House Prices 1.4% Below 2022 Peak; Price-to-rent index is 8.1% below 2022 peak
(DBN)

Homebuyer demand for mortgages jumped 6%, as interest rates fell to the lowest level in over a month
(DBN)

Could the US Housing Market See a 'Trump Bump' in 2025?
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Oil/Gas:

Oil Seen Below $60 by Middle of New Trump Term, Survey Shows
(DBN)

Energy CEO Who Drank Fracking Fluid Is Now Trump’s Oil Evangelist
(DBN)

Saudi Arabia Is Losing Its Iron Grip on Global Oil Markets - WSJ
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Politics:

America’s Lonely Future
(DBN)

Hegseth Heads Into a Critical 24 Hours in Faltering Bid to Lead Pentagon Trump mulls alternatives, including DeSantis, as Hegseth nod teeters Hegseth: Trump told me to ‘keep fighting’ Pete Hegseth Says Fox News Colleagues Criticizing Him Are 'Jealous' Pete Hegseth's Leadership, Alcohol Concerns Would Sink Other Nominees, Ex-Defense Secretary Leon Panetta Says Hegseth’s mother takes to Fox News in bid to save son’s nomination ‘Enough already’: Austin slams Hegseth's opposition to women in the military Hegseth’s future as Defense secretary hangs by a thread Republican rep ‘really impressed’ after meeting with Hegseth Hegseth nomination sinking fast in the Senate
(DBN)

Trump's transition was supposed to be a show of force. What happened? FEMA officials worry Trump will divert disaster aid to the border
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Trump chooses fintech CEO to lead Social Security Administration Trump picks former Rep. Billy Long for IRS commissioner Kelly Loeffler picked to serve as small business administrator Trump Taps Crypto Advocate Paul Atkins for SEC Chair Donald Trump Nominates Gail Slater For Top DOJ Antitrust Role First Billionaire in Space Named Trump's NASA Chief Trump picks Peter Navarro as top trade advisor Trump taps Michael Whatley to remain RNC chair Trump picks Dan Driscoll for Army secretary Trump changes gears at White House counsel Trump taps former Mnuchin aide Faulkender for No. 2 Treasury job Pick for Surgeon General Draws MAGA Fury
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DeSantis’ political future widens as Trump dangles Defense chief job Some Trump allies chafe at potential DeSantis appointment Bad blood: All the times Trump and DeSantis clashed
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RFK Jr. Is a Bellwether
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Is Kristi Noem ready to run FEMA? South Dakota flood victims doubt it.
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Johnson braces for no wiggle room as he works to pass ambitious GOP agenda
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Harris won female cat owners, but Trump got the dog owner vote: AP VoteCast
(DBN)

America’s nightmare is two feral parties
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Pardon Backlash Reflects Fraught Breakup Between Democrats and Biden Judge in Hunter Biden's tax case accepts pardon despite calling it 'unconstitutional' Fact Check: Did Donald Trump Say He Wanted Hunter Biden 'Executed'? House Democrat Asks Biden to Give 'Blanket Pardons' to Trump, Patel Enemies Bill Clinton backs president’s pardon of Hunter Biden 4 Presidential Pardons From History That Were Way More Controversial Than Biden’s
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Trump advisers renew push for pardon of Edward Snowden
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Jeff Bezos says he’s optimistic about Trump, will help administration reduce regulation
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Fraud:

Florida woman who led a nearly $200 million Ponzi scheme sentenced to 20 years in prison
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Crypto:

Crypto miner Mawson pushed into bankruptcy court by creditors
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Bitcoin hits $100k after Trump names pro-crypto SEC chair
(DBN)

CFTC Relief Reaches Record $17.1 Billion With Crypto Crackdown
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Cosmetics:

Natura & Co to pay $34 million to Avon debtors’ estate
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Telecom:

New York readies deep-dive audit of Frontier Communications
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Nursing Homes:

Receiver unravels financial mess at Boston nursing home
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Pharma:

How much insurers pay for weight loss drugs
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Batteries:

Northvolt bankruptcy rattles suppliers Northvolt seeks to sell electric industrial battery business by year-end
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Pageants:

Carlton Fields Represents Miss America CEO in $500 Million Suit Alleging Bankruptcy Fraud
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Fintech:

FDIC Looks to Direct Monitoring of Fintech Companies After Synapse Collapse
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New Bankruptcy Opinions
(0 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (25 new filings today)
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Recent Ch. 11 Adversary Proceeding Filings (6 new filings today)
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Chapter 11 Bankruptcy Case Studies
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Bankruptcy Statistics:

November Individual Chapter 7 Filings Increase 14 Percent Over 2023 - Total Filings Increase By 6 Percent
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Mass Torts:

Judge approves New York Catholic diocese's $320 mln sex abuse deal Long Island Catholic diocese finalizes $323M settlement for child sex abuse victims
(DBN)

Elizabeth Warren Seeks to Block 'Two-Step' Bankruptcy Move
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Miscellaneous:

Court Opinion Review: Swedish Debtors Intrum and Northvolt Seek Shelter in Houston, Judge Goldblatt Rejects American Tire Non-Pro-Rata DIP Rollup and SDNY District Court Keeps Claims Against the Sacklers on Ice
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Aviation:

United CEO Predicts Spirit Airlines Will Liquidate
(DBN)

An Air France passenger says he was injured when his business-class seat came loose during takeoff, and is suing the airline
(DBN)

How a stowaway avoided identity and boarding pass checks on a flight to Paris See Delta employee confronting stowaway over boarding pass
(DBN)

Jeff Bezos believes his space company Blue Origin will be bigger than Amazon
(DBN)

South African Airways cancels some flights as pilots go on strike
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Personal Finance:

Men More Likely to Have Financial Secrets Than Women, Study Finds
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Food/Beverage:

Ransomware hangover, Putin grudge blamed for vodka maker's bankruptcy
(DBN)

Former TGI Fridays CEO makes run at restaurants in bankruptcy court
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Autos:

Auto Parts Manufacturer Saved from Bankruptcy by Italian Investor
(DBN)

EV Firm Ideanomics Files Bankruptcy Following SEC Charges EV Charging Firm Ideanomics Files for Bankruptcy
(DBN)

'Radical' targets toppled Tavares at Stellantis, sources say Seeking higher margins, Stellantis CEO Tavares lost some core customers
(DBN)

Renault and Plug Power’s hydrogen joint venture near bankruptcy: report
(DBN)

What’s Good for China Has Been Very Bad for General Motors
(DBN)

‘High on the list of items’: Ramaswamy threat to claw back Rivian loan sparks criticism of Musk’s conflict of interest
(DBN)

EV tax credit is ‘catastrophically stupid,’ says incoming Ohio Senator and ‘car czar’ Bernie Moreno
(DBN)

Quarter of New Cars Sold in the UK Were Electric in November
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Corporate Governance:

Elon Musk's Next Move in 'Extraordinary' $56 Billion Salary Battle Musk's $56 Billion Appeal Threatens 'Dumpster Fire' Consequences Delaware struggles with Tesla investors’ disregard for governance Musk Compensation Case Will Stand as Corporate Governance Pillar
(DBN)

Is Delaware Corporate Law Meant Only For O? ?λ?γοι?
(DBN)

“Mission Critical”: Director Liability Ticking Time Bomb
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Trucking:

Heavy Truck Sales Increased in 4% YoY in November
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Sovereigns:

IMF’s Internal Watchdog Critiques Handling of Largest Loans
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UK:

Half of UK Firms to Raise Prices After £26 Billion Tax Hike
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UK Housebuilding Falls Most in Five Months in Wake of Budget
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EU:

Europe is again on the brink of financial Armageddon. This time it may not step back
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Canada:

The Function and Limits of Directors and Officers Insurance Policies in Class Actions and the Companies’ Creditors Arrangement Act
(DBN)

Laurentian University implements nearly half of recommendations from Ontario auditor general's report
(DBN)

Trudeau’s Immigration Plan Hinges on Millions of People Leaving
(DBN)

Canada Supports UN Resolution Against Israel
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Mexico:

Mexicans’ Economic Outlook Sours as Trump’s Tariff Threats Loom
(DBN)

Hundreds dead in Mexican city since cartel leaders' September arrest in U.S.: "Scared out of our wits"
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Cuba:

Cuba`s electric grid collapses after power plant failure
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South Korea:

6 hours of anger, bravery and defiance as martial law imposition played out in South Korea With the US caught off guard, Kim Jong Un may be about to capitalize on South Korea's turmoil South Koreans Know What Dictatorship Looks Like Facing impeachment, South Korea’s president replaces defense chief South Korea Turmoil Strikes at Heart of US Alliances in Asia
(DBN)

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Mexico:

Mexico Increases Minimum Wage by 12 Percent
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Russia:

Russia's sky-high interest rates will struggle to fight inflation in the sanctions-stricken economy, top Russian bank CEO says
(DBN)

America is defenceless against Russia’s new Oreshnik hypersonic missile
(DBN)

Johnson: No Ukraine aid on year-end spending stopgap
(DBN)

Trump's plan for Ukraine comes into focus: NATO off the table and concessions on territory
(DBN)

NATO Rushes Weapons to Ukraine to Boost Kyiv Before Truce Talks
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Putin stages hypersonic war games in Mediterranean
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MENA:

Israel 'Still a Way to Go' Until Victory in Gaza as Trump Deadline Looms
(DBN)

IDF: Hamas likely executed six hostages in Khan Yunis as soldiers drew near
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France:

French government collapses after dramatic no-confidence vote in latest crippling embarrassment for hated leader Macron Collapse of France’s Government Further Burdens Its Weak Economy France's prime minister was ousted after losing a confidence vote — here's why Key Takeaways From France’s No-Confidence Vote France’s government just collapsed. What does that actually mean?
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Brazil:

Brazil Judge Rules Against Coffee Exporters Facing Debt ‘Crisis’
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China:

China Warns Against ‘Worship’ of Chasing Faster Economic Growth
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