March 5, 2024

The Daily Bankruptcy News

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Law:

World's Wealthiest Law Firm Conducts Layoffs Due To Market Conditions
(DBN)

Major Biglaw Firm Slashes Parental Leave
(DBN)

A&O Shearman confirms post-merger leaders
(DBN)

Savills U.S. Law Firm Activity Report Q4 2023
(DBN)

California Legislature Bill Weighs Rules on AI Usage for Lawyers
(DBN)

Law firm Schulte Roth sued by investment fund over ‘exorbitant’ fees
(DBN)

Biglaw Firm's Bonuses Leave A Lot To Be Desired
(DBN)

California Bar wants lawyers to pay 24% more in annual dues amid budget woes
(DBN)

A Florida Law School Is Teaching Its First Class Of Bar Takers
(DBN)

Perkins Coie Fourth US Firm to Shutter China Office
(DBN)

Sexting Draws Reported Disbarment
(DBN)

Vanessa Ford Reminded Us That Law Firm Culture Is Still Toxic. Why Does It Survive?
(DBN)

Lawyers seek over $288K per hour in attorney fees, payable in Tesla stock, for suit toppling Elon Musk’s compensation Could the $6 billion legal fee in Musk's Tesla pay case be reasonable?
(DBN)

DA acknowledges unwarranted prosecution of woman for ‘clearly not criminal’ abortion
(DBN)

U.S. Supreme Court shoots down Trump eligibility case from Colorado Notice And Comment: The Supreme Court Ruling In Trump v. Anderson Only Congress can ballot block The glaring omissions and telling fractures in the Trump ballot ruling Five Takeaways From Trump’s Supreme Court Win in Ballot Case SCOTUS Keeps Trump On The CO Ballot Because ... Eh, Whatever, It's All Vibes Supreme Court ruling restrains Congress from blocking candidates for insurrection, experts warn The Supreme Court Once Again Reveals the Fraud of Originalism
(DBN)

How the Supreme Court's Colorado decision clears Jan. 6 rioters to run for federal office SCOTUS unanimously keeps Trump on ballot amid sparring over reach of decision; did it 'insulate' insurrectionists? ‘They didn’t do it clearly enough’: SCOTUS ruling prompts worries of another Jan. 6 crisis
(DBN)

Settlement in Wisconsin fake elector case offers new details on the strategy by Trump lawyers
(DBN)

Jailed rioter who 'lit the match' at Capitol on Jan. 6 wants out of 7-year sentence
(DBN)

Trump's former CFO will plead guilty to NY fraud trial perjury Ex-Trump Organization CFO admits to perjury felonies linked to Trump Tower triplex Allen Weisselberg STILL Hasn't Flipped
(DBN)

Trump lawyer accuses Bragg of ‘misconduct’ in contradictory treatment of Cohen, Weisselberg
(DBN)

A fifth of Trump supporters think he committed a serious crime
(DBN)

Trump tries to hold off paying Carroll for defamation — yet again
(DBN)

Trump presses Supreme Court to rule for him on presidential immunity
(DBN)

Trump co-defendant seeks to enter new testimony in effort to disqualify Georgia DA Fani Willis Georgia prosecutor has evidence that could hurt Fani Willis, court filing says
(DBN)

Florida poised to bar citizen oversight boards from probing police misconduct
(DBN)

Federal judge rules Florida can't ban noncitizens from registering voters
(DBN)

Appeals court slams Florida’s ‘Stop-Woke’ law for committing ‘greatest First Amendment sin’ Florida loses court bid to revive 'woke' workplace training ban
(DBN)

A heated custody battle over a transgender child in California stokes a viral debate
(DBN)

Masked gunmen kill four at California house party, police say
(DBN)

Daughter murders father and his girlfriend after she was removed from his will, jury finds
(DBN)

Jack Teixeira accepts up to 16-year prison sentence for Pentagon leak
(DBN)

Right-Wing Catholic Site Church Militant to Close After Settling Defamation Suit
(DBN)

FBI hunts for suspected Iranian assassin targeting Trump-era officials
(DBN)

'Senseless and evil act of violence': Disgruntled ex-patient murders dentist, cops say
(DBN)

Mom drove pickup into group of teens in park as revenge for bullying her children: Police
(DBN)

Woman targeting ex accidentally killed his roommate after victim borrowed his car
(DBN)

California man first in U.S. charged with smuggling greenhouse gases
(DBN)

Appeals court ruling sets stage for contested Texas border law to take effect Supreme Court Asked to Block Law Letting Texas Deport Migrants Supreme Court temporarily blocks Texas law that allows police to arrest migrants Illinois Official Pitches Plan to Bill Biden for Migrant Costs Trump compares migrants to Hannibal Lecter in 'The Silence of the Lambs' DOJ presses Supreme Court to stop Texas from creating its own immigration policy Hogan: Trump push against bipartisan border bill made me ‘angry enough’ to run for Senate Jon Stewart Rips NYC Mayor Eric Adams for Reversing His ‘Bring Us Your Tired’ Position on Migrants: ‘It Took Two Bus Loads of Venezuleans!’ Latinos’ Views on the Migrant Situation at the U.S.-Mexico Border U.S. Christians more likely than ‘nones’ to say situation at the border is a crisis
(DBN)

Utah Tells the Feds To Pound Sand
(DBN)

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Judges:

US Supreme Court seeks security funding to protect justices, homes
(DBN)

Republicans Rip The Late Justice O'Connor As 'Undistinguished'
(DBN)

January 6th Rioter Finds Out What Happens When You F Around With A Federal Judge
(DBN)

Were liberal justices ready to dissent in Trump insurrection clause case?
(DBN)

US Supreme Court ruling in Trump ballot case showed unanimity, not unity The Supreme Court Forgot to Scrub the Metadata in Its Trump Ballot Decision. It Reveals Something Important. MAGA Celebrates Liberal Supreme Court Justices for Siding With Trump Unanimous Trump Ruling Belies Supreme Court’s Ideological Divide Sharp disagreements behind unanimous SCOTUS decision
(DBN)

Judge Luttig reacts to Supreme Court Colorado decision
(DBN)

Judge opens ruling with Winnie the Pooh quote
(DBN)

Keith Olbermann rips Supreme Court, calls liberal justices ‘inept’
(DBN)

Barrett joins liberal justices on Trump ballot ban ruling going too far
(DBN)

Thomas, Alito fear 'bias-reporting schemes' on campus 'objectively chill' students' speech
(DBN)

ROSS Cofounder Returns To Legal Tech With Startup Using AI To Surface Judges’ Decision-Making Patterns
(DBN)

Sotomayor, Kagan and Jackson go off on Barrett's 'message' for Americans in Trump case
(DBN)

Judge holds victim's mother in contempt for wishing death on the man who murdered her son
(DBN)

Amid misconduct charges, a California judicial race heats up
(DBN)

Former Judge Suspended After Conviction
(DBN)

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Wall Street:

Stock futures slip after Nasdaq Composite retreats from record:
(DBN)

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Layoffs:

Ex-Twitter Executives Sue Elon Musk for $128 Million in Severance Pay
(DBN)

Michigan Battery Startup ONE Cuts Jobs as CEO Seeks Fresh Funds
(DBN)

Bain Offers Buyouts to UK Staff in Fresh Sign of Consulting Woes
(DBN)

Body Shop Canada to lay off 200 workers after parent company took its cash, court docs show
(DBN)

Citi laying off 286 New York-based employees
(DBN)

Sumitomo Pharma Cuts 400 US Jobs as Credit Market Concerns Mount
(DBN)

The Container Store lays off 100 employees amid ongoing sales declines
(DBN)

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Tech:

Public trust in AI is sinking across the board
(DBN)

Banks Stuck With X Debt Held Refinancing Talks With Elon Musk
(DBN)

The rise of the job-search bots
(DBN)

Silicon Valley moguls are weighing in on Elon Musk's battle with OpenAI, and it's getting cattier than a 'Real Housewives' reunion
(DBN)

Why AI could boost the economy faster than past technologies
(DBN)

Musk vs. OpenAI: When for-profit and nonprofit blur
(DBN)

Apple has been hit with a fine of nearly $2 billion by the European Commission over music streaming restrictions
(DBN)

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Food/Beverage:

The Skyrocketing Costs Driving Cheeseburger Prices Up—And Restaurant Owners Out
(DBN)

Subway: Remodel Your Stores or Lose Franchises
(DBN)

Great Northern Products files for bankruptcy protection
(DBN)

Countdown to California's new fast-food wage is triggering some strangeness
(DBN)

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Maritime:

Container Ship Tackles Fire After Suffering Explosion Off Yemen
(DBN)

By the numbers: How conflict in the Red Sea disrupts global trade
(DBN)

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Economy:

For Fed Tightening, There's More to Think About Than Just Tapering
(DBN)

Lawler: Some Thoughts on Quantitative Easing and Quantitative Tightening
(DBN)

Fed’s Bostic Sees Rate Cut in Third Quarter Followed by a Pause
(DBN)

The Fed is 'held hostage' by data and risks sparking financial instability, Mohamed El-Erian says
(DBN)

Return-to-office mandates will be worse for federal employment than leaders realize
(DBN)

Corporate greed is pushing prices up even as the main drivers of inflation keep falling, Fundstrat's Tom Lee says
(DBN)

Biden to form ‘strike force’ to go after price-gouging
(DBN)

'Dr. Doom' Nouriel Roubini says the biggest risk to the market right now is an economy that stays too strong
(DBN)

Interest payments chip further into US corporate earnings in Q4 2023
(DBN)

Elon Musk Loses World’s Richest Person Title to Jeff Bezos
(DBN)

House conservatives feel frustrated and sidelined in funding fight House conservatives fume over deal backed by Johnson What is in the US government funding bill before Congress? Earmark battle emerges as late threat to spending bill
(DBN)

Heavy Truck Sales Increased in February
(DBN)

2024 Threats to Manufacturing and Industrial Businesses – Lenders Beware
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

ICE Mortgage Monitor: "First-Time Homebuyers Make Up Record 47% of GSE Purchase Loans"
(DBN)

Housing March 4th Weekly Update: Inventory Up 0.1% Week-over-week, Up 18.8% Year-over-year
(DBN)

US home prices hit highest annual gain since December 2022
(DBN)

Chicago to Go Ahead With Plan to Revamp Empty Downtown Towers
(DBN)

Miami Pitches $2.5 Billion Bond to Stem Dire Housing Crisis
(DBN)

Investors are gobbling up homes in one of California's last 'affordable' regions
(DBN)

Texas Residents Face Home Insurance Crisis After Devastating Wildfires
(DBN)

Distraught husband and wife are seen for the first time since squatter took over their $2 million Long Island mansion leaving the couple and their Down Syndrome son unable to move in
(DBN)

WeWork poised to shut more London sites as cost-cutting continues
(DBN)

WeWork Rival IWG Weighs US Listing as It Ramps Up New Sites
(DBN)

Wells Fargo CFO calls commercial real estate a ‘long movie’
(DBN)

Frustrated Georgia homeowner finds squatters broke into his home and changed the locks as he cared for his sick wife - as court-ordered eviction could take up to three months | Daily Mail Online
(DBN)

Frontier Town progress on hold over 120-year-old foreclosure
(DBN)

Sale of Harrisburg’s Governor’s Square delayed after federal agency objects
(DBN)

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Oil/Gas:

Iran Defies US Sanctions With Surging Exports of Liquefied Petroleum Gas
(DBN)

Visualizing Natural Gas Reserves By Country
(DBN)

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Politics:

Biden says Trump wouldn't concede next time: "Losers are never graceful"
(DBN)

1 in 7 Republicans don't plan to vote for ex-president
(DBN)

The Surprising Takeaway From My Survey on How Trump Got a Grip on the GOP Grassroots
(DBN)

Across the Board, Voters Give Better Marks to Trump’s Policies Than Biden’s
(DBN)

Supreme Court hands Trump victory in Colorado 14th Amendment ballot challenge Reality bites Democrats: Courts won't save them from Trump Top Democrat “working on” bill responding to Trump ballot ruling SCOTUS found its 14A loophole for Trump. Congress will follow suit. Dems have a problem with their democracy argument, not with the Supreme Court
(DBN)

How the GOP's "three Johns" are cozying up with Senate contenders
(DBN)

Inside the Texas GOP's primary revenge tour
(DBN)

Conspiracy theories gain new life as US campaign unfolds
(DBN)

Federal appeals court blocks Florida’s ‘Stop WOKE Act’ rules for businesses
(DBN)

Nikki Haley's two shots at Trump Haley faces growing third-party speculation
(DBN)

Trump faces resistance from a significant minority of voters
(DBN)

Trump Suffers Bizarre Brain Freeze Trump slurs through speech after being mocked by Biden for mispronouncing Melania's name Trump's Staffers Hiding His Decline
(DBN)

Biden's new strategy: Go for Trump's jugular
(DBN)

Alabama IVF bills are a "Band-Aid" to explosive court ruling
(DBN)

Mark Cuban Backs Biden in 2024, Urging More Action on Drug Costs
(DBN)

Tammy Murphy wins in a blowout in crucial Senate Democratic convention in NJ
(DBN)

Michelle Obama's office says the former first lady 'will not be running for president' in 2024
(DBN)

54.87% of all state legislators in the United States are Republican, 44.43 % are Democratic
(DBN)

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Climate:

March begins with extreme weather, climate events after America's "Lost Winter"
(DBN)

California blizzard dumped more than 100 inches, with more snow coming
(DBN)

Texas faces fire threats through spring as largest-ever blaze 15% contained Many Texans Weren't Insured in Wildfire Region
(DBN)

In photos: Sierra Nevada hit with ferocious blizzard
(DBN)

Infernos Rage From Texas to Australia as Fire Season Kicks Off Early
(DBN)

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Utilities:

Xcel Energy Is Sued Over Worst Wildfire in Texas History
(DBN)

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Religion:

Church of England aims to raise $1 billion to address links to slavery
(DBN)

The World’s Most Popular Religions
(DBN)

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Pharma:

Hospitals and PBMs get a reprieve from Congress
(DBN)

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Defaults:

Corporate junk debt defaults hit post-pandemic high in February
(DBN)

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Fitness:

BowFlex files for Chapter 11 bankruptcy with $37.5 million ‘stalking horse’ agreement
(DBN)

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Autos:

Fisker is reportedly in talks with Nissan to avoid bankruptcy Fisker's Financial Struggles Threaten The Future Of Ocean Electric Crossover Can Fisker Stock 'Pull a NIO' and Fend Off Bankruptcy in 2024?
(DBN)

EV Startup Gets Cash Infusion Following Bankruptcy Scare
(DBN)

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Agribusiness:

After years of rapid growth, California's almond industry struggles amid low prices Costs cripple California's leading crop, some almond growers say game over 17 Calif. farms file for Chapter 11 bankruptcy due to 'record-low' almond prices
(DBN)

Court records reveal who’s lining up to buy land from bankrupt Fresno farming company
(DBN)

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Credit Cards:

Biden to Finalize Rule to Cap Credit Card Late Fees at $8
(DBN)

Mapping Credit Card Delinquency Rates in the U.S. by State
(DBN)

Credit card delinquency, net loss rates return to pre-pandemic levels
(DBN)

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Fraud:

February 2024 Ponzi Scheme Roundup
(DBN)

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New Bankruptcy Opinions
(1 new opinion today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (38 new filings today)
(DBN)

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

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

February Commercial Chapter 11s Surge 118 Percent
(DBN)

Puerto Rico’s bankruptcy filings up a whopping 43% in February
(DBN)

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Mass Torts:

Lawyer for Alex Jones’ Infowars Owner Seeks Bankruptcy Case Exit
(DBN)

Tehum Care judge seeks to avoid broad ruling on Texas Two-step bankruptcies
(DBN)

'They're self-inflicted wounds': Buffalo Diocese bankruptcy moves into year four
(DBN)

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Aviation:

Boeing, Spirit AeroSystems Audit Finds ‘Multiple’ Quality Lapses, FAA Says
(DBN)

Astra warns of liquidation if proposal to go private falls through
(DBN)

JetBlue, Spirit Airlines call off merger citing regulator obstructions
(DBN)

Texas approves state park land swap negotiations with SpaceX despite criticism
(DBN)

NCLT reserves order in Aircastle’s insolvency case against Spicejet
(DBN)

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Student Debt:

A mom who's stuck with the bill for her ex-husband's student loans is struggling to pay the $365,000 balance and help her kids at the same time
(DBN)

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Education:

San Francisco Art Institute Headquarters Sold to Group Led by Laurene Powell Jobs
(DBN)

Show this chart to anyone who tells you college isn't worth it
(DBN)

Suddenly, being a librarian in California is dangerous
(DBN)

Economic inequalities among college graduates are linked to college major choice
(DBN)

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Retailing:

Investor group bumps Macy's takeover bid to $6.6B
(DBN)

10 Retailers to Watch for a Possible Bankruptcy Filing in 2024
(DBN)

Craft Chain With 22 Stores in NY, May File Bankruptcy to Cut Debt
(DBN)

JOANN Explores Bankruptcy Option To Control Debt
(DBN)

Body Shop Canada files for bankruptcy protection; Body Shop U.S. goes dark The Body Shop Files for Bankruptcy: Where Did It All Go Wrong?
(DBN)

Saks survey finds luxury shoppers optimistic but not willing to spend more — yet
(DBN)

Macy’s to close 150 more stores in 3 years
(DBN)

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Banking:

NYCB Shares Extend Selloff After New Round of Credit Downgrades
(DBN)

Some NYCB deposits may be a flight risk after Moody’s downgrades ratings again
(DBN)

If One Megabank Collapses, the US Economy Goes With It. Should We Have More?
(DBN)

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Healthcare:

County lawmakers demand overhaul to save Nassau University Medical Center from insolvency
(DBN)

How hospitals are fighting to keep their former doctors from seeing patients
(DBN)

What if a local hospital goes broke? CT lacks receivership authority
(DBN)

White House turns to health care in Biden’s latest move against ‘corporate greed’
(DBN)

Florida GOP senators defend DeSantis’ surgeon general amid measles outbreak Florida is swamped by disease outbreaks as quackery replaces science
(DBN)

U.S. suspending free COVID test distribution once again
(DBN)

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Water:

Colorado Officials Threaten to Turn Off Water
(DBN)

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Fashion:

3 lessons from the bankruptcy of circular fashion maker Renewcell Renewcell’s post-bankruptcy future
(DBN)

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Sovereigns:

Ghana Anti-LGBTQ Bill Risks $3.8 Billion of World Bank Support
(DBN)

Pakistan’s Prime Minister Orders Starting Talks with IMF for Loan
(DBN)

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UK:

How Birmingham city council’s ‘equal pay’ bankruptcy provided cover for ongoing Oracle IT disaster Cut consultants and diversity schemes to save cash, Hunt to tell councils Birmingham set to SLASH bin collections and dim streetlights in bankrupt Labour-run council's emergency budget Birmingham City Council to vote on cuts after effective bankruptcy Nottingham: Wide-ranging cuts approved at 'bankrupt' city council
(DBN)

Freeths bolsters insolvency practice with partner hire
(DBN)

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EU:

Euro zone business activity moves closer to recovery, PMI survey shows
(DBN)

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MENA:

Harris calls for ceasefire, says "people in Gaza are starving" Administration officials watered down Kamala Harris' Gaza speech before delivery White House ratchets up urgency for temporary Israel-Hamas cease-fire Gaza Cease-Fire Talks Bogged Down as Hunger, Pressure Grow US Says Airdrops to Gaza to Continue in ‘Intolerable’ Situation Biden team eyes ways to rush humanitarian aid to Gaza via sea
(DBN)

Gaza War Is Shifting Ties Between Secular and Ultra-Orthodox Israelis
(DBN)

UN Finds Evidence of Sexual Violence by Hamas Since Oct. 7 U.N. finds 'convincing' information that Gaza hostages faced sexual abuse UN: Hamas Likely Committed Gang Rape
(DBN)

UN agency accuses Israel of detaining, coercing staffers into false confessions about ties to Hamas
(DBN)

Israel and UN trade allegations of 'terrorism,' torture
(DBN)

Hostages Begged IDF for Help. They Killed Them
(DBN)

Israel carries out biggest Ramallah raid in years, witnesses say
(DBN)

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India:

Byju’s Hedge Fund Ally Faces Jail Time Over Missing $533 Million Ahead of US hearing, Byju's says it is beneficiary owner of 533 mn fund parked in co subsidiary
(DBN)

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Argentina:

Spending Plunges at Shops in Argentina With Milei Cuts Hitting Hard
(DBN)

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Cuba:

Cuba begs for powdered milk as economy struggles...
(DBN)

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Russia:

NATO drills on Vlad's doorstep: 20,000 troops from 13 countries
(DBN)

As NATO gets stronger, Russia’s version of NATO is falling apart
(DBN)

Air Force civilian employee charged with relaying classified intel on Ukraine on dating site
(DBN)

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China:

Country Garden lenders' group hires advisers for debt revamp talks, sources say
(DBN)

Chinese Insurers Warn of Debt Risks at Property Giant Vanke
(DBN)

China to Refine Real Estate Policies to Support Ailing Sector
(DBN)

China announces 5% economic growth target in face of a slumping economy China's economic woes far from over, despite optimistic growth goal
(DBN)

China’s Economic Slump Is Here to Stay
(DBN)

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Brazil:

Brazil's Cargill CEO says wave of farmer bankruptcy filings is a concern
(DBN)

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France:

French Industry Slumped More Than Expected in Early 2024
(DBN)

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