January 24, 2024

The Daily Bankruptcy News

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Law:

Biglaw Firm Fires Multiple Attorneys Without Warning Over Zoom
(DBN)

Last Year Saw A Notable Drop In Biglaw Job Openings
(DBN)

Biglaw Firm Admits To 'Painful' Mistake After Displaying Lynching Artwork
(DBN)

Ex-Biglaw Associate Gets Handsy With Colleague At Work Event, Gets Banned From Profession
(DBN)

No Longer A Rarity: More Partners Leave Cravath, Heading To Rival New York Firms
(DBN)

Facing undergraduate debt and law school loans, students wonder whether it’s worth it, new AccessLex study says
(DBN)

A 'Sweatshop'? Lawyers Detest Law Firm Cultures That Emphasize Profitability
(DBN)

This BigLaw firm is one of few without origination credits; it creates ‘collaborative culture,’ chair says No Origination Credits in Partner Pay? Covington Sees Advantages This Top Biglaw Firm Is Going Against The Grain On Partner Compensation And Succeeding
(DBN)

Discrimination Lawsuits Put Partners' Feedback for Associates Under the Microscope
(DBN)

Lawyers should take these precautions when using artificial intelligence, Florida ethics opinion says
(DBN)

Does AI Signal The End Of The Billable Hour?
(DBN)

District attorney drops charges against litigant charged with murder of prominent Dallas lawyer
(DBN)

Mexico’s suit accusing gun-makers of facilitating gun trafficking isn’t barred by immunity shield, 1st Circuit says
(DBN)

Law firm’s ‘Switch On/Switch Off’ program allows ‘chunk of time off’ for reduced pay
(DBN)

Orrick Welcomes the Partner Class of 2024
(DBN)

Former Biglaw Associate Explains How He's Going To 'Outwit' The Competition On 'Survivor'
(DBN)

How the Fani Willis allegations could affect Trump's Georgia election case
(DBN)

Trump Loses Gag Order Fight Before Entire Judicial Panel in Jack Smith’s Election Case Appeals court shoots down Trump’s bid to sideline his DC gag order Trump Still Gagged, Still Whining In DC Elections Case
(DBN)

Capitol Rioters Complain Flying Is 'Huge Problem' for Them
(DBN)

Alina Habba Swimsuit Pic Hopes To Make Up For 'Not Knowing Rules Of Evidence'
(DBN)

Chip Roy: Texas should ignore Supreme Court’s border razor wire ruling The long, ugly history of barbed wire at the U.S.-Mexico border Schumer: Republicans taking cues from Trump in opposing border deal Republicans zero in on a new border — the one with Canada Joe Manchin: If Border Deal Fails, Biden Must Declare National Emergency Tucker Carlson Calls on 'Men of Texas' To Defend Border I Was a Border Patrol Agent for 27 Years. Here's How We Fix the Border
(DBN)

Trump has long promised a 'beautiful' wall. Now he's pledging 'the greatest dome ever.'
(DBN)

New York AG pushing for lifetime Trump ban cites Martin Shkreli ruling
(DBN)

Jan. 6 rioter has 'no basis' for 'meritless' $100M defamation lawsuit against CNN: Docs
(DBN)

Involuntary manslaughter trial begins for mother of Michigan school shooter Michigan shooter Ethan Crumbley may refuse to testify as first of parents' trials opens with jury selection
(DBN)

It’s too dangerous to allow this antiquated law to exist any longer
(DBN)

Abortion pill restrictions would be 'damaging for women,' Biden admin tells Supreme Court
(DBN)

Biden administration demands Border Patrol be allowed into border park taken over by Texas How Greg Abbott's Border Fight Bolsters Calls for an Independent Texas Extremists Call for ‘Civil War’ and ‘Secession’ Over Texas Border Ruling Lead GOP negotiator: No border package vote this week, 'very hopeful' on deal text
(DBN)

With Oregon facing rampant public drug use, lawmakers backpedal on pioneering decriminalization law
(DBN)

Man arrested in Costa Rica in connection with wife’s death after more than 30 years on the run, police say
(DBN)

'Difficult patient' who gunned down 2 dentists for not giving his dentures back sentenced
(DBN)

Mother suing DHS, HHS for $100M after MS-13 immigrant allegedly strangles daughter for $6
(DBN)

NYPD sergeant slapped with manslaughter charge after hurling water cooler at fleeing drug suspect, allegedly killing him
(DBN)

In-N-Out has never closed a location, until now. It cites crime as the problem
(DBN)

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Judges:

Reappointment of Bankruptcy Judge James R. Sacca in the Northern District of Georgia (Atlanta)
(DBN)

Career Opportunity - Judicial Law Clerk - Term - Pittsburgh, PA
(DBN)

Only 5 Supreme Court Justices Believe In The Supremacy Clause And That's A Real Problem
(DBN)

Federal Judge So Egregiously Far Behind He's Got A Dead Guy's Criminal Case On The Docket
(DBN)

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Wall Street:

Dow Jones Futures Rise
(DBN)

US stocks trade mixed after key earnings reports miss the mark
(DBN)

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Layoffs:

The Los Angeles Times plunges into ‘chaos’ as brutal layoffs loom and senior editors call it quits Journalists of color hit hard in seismic L.A. Times layoffs
(DBN)

Humanoid robots will join BMW's production line
(DBN)

A restaurant robot might mix your next cocktail
(DBN)

EBay to eliminate about 1,000 jobs, or 9% of full-time workforce
(DBN)

SAP plans job changes or buyouts for 8,000 employees in restructuring plan
(DBN)

Baillie Gifford Plans Dozens of Redundancies Amid Cost Review
(DBN)

Abrdn Plans to Cut 10% of Workforce as Assets Hit Record Low
(DBN)

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Meme Stocks:

Spirit Airlines is the latest meme stock amid 131% spike
(DBN)

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Healthcare:

Mapped: More than half of U.S. rural hospitals don't offer maternity care
(DBN)

Careismatic Brands Files For Bankruptcy
(DBN)

The Crisis in Rural Health Care
(DBN)

'He’s no doctor': Physician sentenced for killing 5 patients by overprescribing opioids
(DBN)

Many patients keep weight off after stopping anti-obesity meds: study
(DBN)

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Student Debt:

Biden has forgiven billions in student loans. Who has gotten the relief?
(DBN)

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Fraud:

Martin Shkreli’s Lifetime Ban From Pharma Industry Holds Up on Appeal Martin Shkreli goes ballistic on federal appeals court for upholding lifetime ban
(DBN)

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Sports:

NBA star banned for 25 games for performance enhancing drugs
(DBN)

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Celebs:

Elon Musk says he's 'Jewish by association' after Auschwitz visit, sees 'almost no antisemitism' Elon Musk is cosplaying as Jewish. But no Jew would do what he has done
(DBN)

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Newspapers:

Los Angeles Times slashes more than 20% of newsroom staff as the paper confronts a ‘financial crisis’
(DBN)

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Hedge Funds:

World’s largest hedge funds record bumper year of profits
(DBN)

Hedge Fund Stars Who Got China Wrong Are Paying a Big Price
(DBN)

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Crypto:

Mt. Gox Advances in Bitcoin Repayment Process, Engages Creditors Are Mt. Gox Creditor Gears Turning? Rumors Rattle Bitcoin Market
(DBN)

Core Scientific emerges from bankruptcy, set to resume Nasdaq trading
(DBN)

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Retailing:

French regulator fines Amazon unit $35 million for ‘excessively intrusive’ employee surveillance
(DBN)

Customers have soured on self-checkout, and a new study says there’s proof
(DBN)

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Economy:

Nearly 40% of workers like their jobs enough to turn down a promotion, a new report says
(DBN)

Americans’ economic outlook brightens as inflation slows and wages outpace prices
(DBN)

US GDP Data Will Showcase Consumer Set to Power Economy in 2024
(DBN)

The odds of an immediate Fed rate cut are falling
(DBN)

New LegalShield Data Reveals Highest Consumer Financial Stress Level in 3 Years
(DBN)

Does working from home boost productivity? We're starting to get answers
(DBN)

What ‘$7’ fries reveal about the economy
(DBN)

Americans' Debt Payments Are Increasing
(DBN)

Bill Gates thinks the super-wealthy should pay more tax – and plenty of rich people agree
(DBN)

'Bond King' Bill Gross says stocks look overstretched - and a major recession could hit if interest rates don't drop this year
(DBN)

The world's most accurate economist told us his forecasts for the US economy in 2024, the biggest risks he's watching, and a trade to take advantage of
(DBN)

Fed rate hikes have made borrowing greenbacks costlier and pushed more firms to de-dollarize, think tank says
(DBN)

State income taxes rates for the 2023 tax year
(DBN)

Vermont Becomes Latest State to Propose Wealth Taxes
(DBN)

Exclusive poll: Gen Z is less religious, less Republican than others
(DBN)

‘No cash accepted’ signs are bad news for millions of Americans
(DBN)

Two Conservatives Challenge the Davos Divas
(DBN)

The case for the 4.5-day workweek
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

This year could be the breaking point for commercial real estate distress, research firm says
(DBN)

Commercial mortgage lending to jump 29% in 2024 after slowest year in a decade, Mortgage Bankers Association says
(DBN)

Charted: Number of office-to-apartment conversions surges
(DBN)

The big Zoomtown backlash
(DBN)

1.54 million Total Housing Completions in 2023 including Manufactured Homes; Most Since 2007
(DBN)

Home Price Increases Are Starting to Slow Down
(DBN)

Palm Springs capped AirBnB rentals. Now home prices in free-fall
(DBN)

Judge sets pretrial deadlines in Texas Capital suit against Ginnie Mae
(DBN)

Amid a Housing Crunch, Religious Groups Unlock Land to Build Homes
(DBN)

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Oil/Gas:

Why replacing fossil fuels is "a whale of an issue"
(DBN)

As more crude tankers divert from Suez Canal, there’s a ‘sea change’ in way Europe is buying crude
(DBN)

Railroad Commission critic pledges to violate no-fly zone as tests reveal toxic water
(DBN)

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Politics:

Trump cruises in New Hampshire primary election, Haley vows to fight on Trump’s New Hampshire win had some bright red warning signs Trump Races Toward 2024 Biden Rematch After New Hampshire Win After Trump's NH win, Biden gets the opponent he wants Trump fumes in victory, Haley spins in defeat Biden, Trump win New Hampshire primaries Trump rides to New Hampshire victory on the strength of support from the GOP base, AP VoteCast shows Majority of New Hampshire GOP voters say they are not part of the 'MAGA' movement 4 exit poll numbers that explain Trump’s victory
(DBN)

Nikki Haley's got a Trump problem in South Carolina South Carolina probably won't save Nikki Haley
(DBN)

Next stop on Trump’s path to be presumptive nominee: The Supreme Court
(DBN)

Trump Slurs His Way Through Chunk of Speech — Biden Team Pounces Trump slurs words while speaking about death penalty
(DBN)

‘You’re right,’ Trump tells supporter calling for ’12 years of Trump’
(DBN)

Gen Z's gender divide is huge — and unexpected Gen Z Republicans to the GOP: Hello???
(DBN)

Nikki Haley tears into Trump's "fellas" Trump looks to drive out Haley with decisive NH win 'We aren't going anywhere,' Haley campaign says
(DBN)

Florida insiders fear vengeful DeSantis will ‘burn it all down’
(DBN)

Donald Trump has a big problem ahead
(DBN)

Trump voters: Why these supporters are willing to look the other way
(DBN)

House Republicans now have one of the smallest majorities in history
(DBN)

Here's why Kevin Morris says he paid Hunter Biden's back taxes
(DBN)

George Santos appears in federal court as trial looms later this year
(DBN)

Sen. Bob Menendez says gold bars and cash at his residence were illegally found and seized Bob Menendez Moves To Suppress Search Warrants Because Ummm... Nadine Did It!
(DBN)

House ethics probe into Rep. Matt Gaetz picks up steam with new witnesses contacted: Sources
(DBN)

Audio recording reveals the moment that senior Republican figure tried to bribe Kari Lake not to run for Senate
(DBN)


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Labor:

Unionization rate dropped to new low in 2023
(DBN)

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Insurance:

Chaucer looks to protect its Vesttoo-linked transaction cells from other creditor claims
(DBN)

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Utilities:

Ruling against PREPA bondholders may hold positives for them
(DBN)

PREPA bond parties further defend their revenue lien in new court filings
(DBN)

Oregon jury awards $85 million to 9 victims of deadly 2020 wildfires
(DBN)

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Tech:

China fears are driving a new "AI industrial complex"
(DBN)

AI's next fight is over whose values it should hold
(DBN)

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Sports:

Bankrupt North Carolina baseball team countersues city
(DBN)

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Autos:

NYC Tesla owners rage at Musk as huge lines leave it 'impossible' to charge cars
(DBN)

EVs Cost Twice as Much to Insure as Fuel-Burning Cars in UK
(DBN)

Rivian Stock Collapses
(DBN)

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Food/Beverage:

The restaurant industry has a heartbeat after years on life support It's "carnage everywhere" for restaurant owners facing high costs and new rivals
(DBN)

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Ride Hailing:

What's Next For Robotaxis?
(DBN)

San Francisco Takes Legal Action on Robocars
(DBN)

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Event Facilities:

NBA’s Westbrook Joins Group Taking Over Bankrupt Arizona Sports Park
(DBN)

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Religion:

Colorado pastor accused of pocketing $1.3M in crypto scheme says 'Lord told us to' 'I know this looks terrible': Online rev accused of crypto scam, used cash to remodel home
(DBN)

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Education:

Israeli hostage posters at Harvard vandalized with antisemitic messages
(DBN)

Barnard College’s Restrictions on Political Speech Prompt Outcry
(DBN)

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New Bankruptcy Opinions
(3 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Adversary Proceeding Filings (7 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

Economy, Pandemic Drove Up Bankruptcy Filings in 2023 With No Abatement Expected This Year
(DBN)

Global insolvencies in 2024: trouble on the horizon?
(DBN)

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Bankruptcy Fees:

Surprise At Oral Arguments In U.S. Trustee v. Hammons: Viability of Prospective-Relief-Only
(DBN)

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Prepacks:

SDNY Amends Guidelines for Prepackaged Chapter 11 Cases
(DBN)

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UST:

Audit of the United States Trustee Program’s Administration of the Panel Trustee and Debtor Audit Programs and Associated Procurements Awarded to Tronconi Segarra & Associates LLP
(DBN)

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Third Party Releases:

Third-Party Bankruptcy Releases and the Separation of Powers: A Stern Look
(DBN)

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Mass Torts:

J&J Cancer Claimants Demand More Money Before Third Bankruptcy
(DBN)

Johnson & Johnson to settle talc baby powder investigation, will reportedly pay $700 million
(DBN)

Durbin, Whitehouse, Hawley Call on Supreme Court to Reject Georgia-Pacific’s Bankruptcy Maneuver to Evade Accountability to Hundreds of Thousands of Asbestos Victims Three Senators, 25 States Ask SCOTUS to End 'Texas Two-Step' Bankruptcies Senators, states ask US Supreme Court to curb 'two-step' bankruptcy abuse
(DBN)

Attorney General Josh Stein Asks Supreme Court to Stop Companies from Abusing Bankruptcy Law Attorney General Bonta to Supreme Court: Healthy, Solvent Corporations Should Not Exploit Bankruptcy to Avoid Liability
(DBN)

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D&O:

Excess D&O Insurance Coverage Barred Because Underlying Insurers Didn’t Admit Liability
(DBN)

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Ch. 13:

Chapter 13: Let’s Call the Whole Thing Off
(DBN)

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Safe Harbors:

Safe Harboring Sloppiness: The Scope of, and Available Remedies under, Sections 363(m) and 364(e)
(DBN)

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Reinstatement:

New York Bankruptcy Court Raises the Cost of Keeping Funded Debt: Debtor Needs to Pay Default Interest Rate in Reinstatement of Accelerated Debt
(DBN)

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Aviation:

United's CEO seemed to subtly threaten a move away from Boeing, saying the Max 9 grounding is 'the straw that broke the camel's back' Alaska Airlines and United CEOs cast doubt on Boeing after 737 Max 9 issues Alaskan Airlines Found Many Loose Bolts on 737
(DBN)

A Boeing passenger jet's nose wheel fell off just before takeoff
(DBN)

FAA chief vows ‘boots on the ground’ at Boeing until quality control system is working
(DBN)

Airline SAS Expects to Cancel All Common Shares, Hybrids by June Airline SAS Sees $4.6 Billion Revenue in 2024, to File Amended Chapter 11 Plan
(DBN)

Excessively Gaseous Passenger Reportedly Causes American Airlines Flight to Turn Around
(DBN)

Couple demanding child get free upgrade to first class delays plane for hours
(DBN)

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Sovereigns:

Sri Lanks: Agreements with external creditors soon
(DBN)

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UK:

Restructuring Plans given a Shake-up after the Adler Plan is Overturned
(DBN)

Insolvency trends and implications for claims against D&Os and Insolvency Practitioners
(DBN)

Debt-ridden council spends 49% of taxpayer cash on housing homeless people Council funding: Leaders warn of the end of local government Council facing bankruptcy as their town has become ‘an asylum dispersal city by the back door’ British councils to receive major £500m emergency bailout in bid to avert bankruptcy crisis
(DBN)

UK Inflation Worries Back With Signs Red Sea Attacks Lift Prices
(DBN)

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EU:

ECB set to hold rates as market tussle over rate cut timing continues
(DBN)

Farmers' Anger Mounts Across Europe
(DBN)

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India:

India Tops Hong Kong as World’s Fourth-Largest Stock Market
(DBN)

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South Korea:

Google's efforts to shrink its workforce in Korea has hit a snag as some employees are refusing to go
(DBN)

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Mexico:

Mexico pushes for U.S. accountability in deadly gun violence surge
(DBN)

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Russia:

Austin says Ukraine coalition 'must not waver' in first appearance since hospitalization Pentagon says Ukrainian soldiers running out of ammunition without US funds
(DBN)

State Department responds to Putin on Alaska: ‘Certainly he’s not getting it back’
(DBN)

Russia’s relentless ‘meat assaults’ wear down outmanned and outgunned Ukrainian forces
(DBN)

A Ukrainian soldier says he escaped from behind enemy lines hidden inside a sofa
(DBN)

Germany to send Ukraine six 'Sea King' helicopters for air defence
(DBN)

Turkey votes in favor of Sweden’s NATO membership after months of delay Norway military chief warns Europe has ‘2, maybe 3 years’ to prepare for war with Russia
(DBN)

A Russian military plane crashed near Ukraine. Moscow says it was carrying 65 Ukrainian POWs Russia said a military transport plane crashed with 65 Ukrainian POWs on board. Reports saying Ukraine shot it down were quickly changed.
(DBN)

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Germany:

Will Changes to the German Insolvency Code Spark More Insolvencies?
(DBN)

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Singapore:

Judge, Jury and Investigator: Court of Appeal Outlines Scope of Liquidator's Investigative Duties and Powers
(DBN)

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MENA:

Torture allegations spiked in Israeli jails after Oct. 7, as one group warns jailers seek 'revenge'
(DBN)

Honed at Home in Yemen, Houthi Propaganda Is Going Global How a Ragtag Militia in Yemen Became a Nimble U.S. Foe U.S. steps up strikes on Iranian proxies in Iraq and Yemen What History Says About Biden’s Power to Strike Back Against the Houthis
(DBN)

Israel-Hamas war negotiations reportedly working toward a weeks-long cease-fire
(DBN)

Israel turns to Indian workers as Gaza war worsens labor shortage
(DBN)

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Brazil:

Tycoon Eike Batista’s shipyard company files again for bankruptcy protection
(DBN)

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China:

Law in Books Versus Law in Action in the Landmark Shenzhen, China, Personal Bankruptcy Regime
(DBN)

German Firms in China Say Economy Is on ‘Downward Trajectory’
(DBN)

China Earnings to Deepen Woes of Worst-Performing Stock Market
(DBN)

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Australia:

Horror continues for construction industry as Melbourne-based Alpha Building Group collapses
(DBN)

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