March 7, 2024

The Daily Bankruptcy News

View prior editions: Click Here
View prior case summaries: Click Here
Search prior headlines: Click here
Search prior case summaries: Click here

Format For Mobile Device



Law:

Two Of Biglaw's Best Contribute To Massive Spike In Commercial Bankruptcy Filings
(DBN)

Downsizing Is The Way Of The Future For This Biglaw Firm
(DBN)

'We Believe There's a Purpose to Being in the Office': Dechert Grows San Francisco Footprint Via Sublease
(DBN)

Lawyer Plays Double Agent, Allegedly Spying On Muslim Colleagues
(DBN)

Blank Rome tried to exact financial ruin because lawyer switched sides in airline litigation, her suit alleges
(DBN)

Overwhelmed lawyer blew deadline and faked email to cover it up, disbarment order says
(DBN)

Top Harvard official accused of ethics breach over $42M paid to his own law firm
(DBN)

Lawyers Should Share Their Billable Hour Rates With Other Attorneys
(DBN)

Fourth BigLaw firm closes office in China
(DBN)

Court upholds Michael Avenatti conviction for defrauding Stormy Daniels Court calls evidence of Michael Avenatti's guilt 'overwhelming' in huge appellate loss
(DBN)

AI deepfakes are headed into court at time of low trust in legal system
(DBN)

Fani Willis romance controversy faces fresh scrutiny in Georgia Defense attorney details Fani Willis relationship probe to Georgia Senate committee Georgia Republicans start issuing subpoenas in probe of Fulton County DA Fani Willis Fani Willis and defense in Trump RICO case file dueling motions in disqualification drama
(DBN)

US Supreme Court sets April 25 Trump criminal immunity argument Supreme Court waits until the very last day to hear arguments on Trump immunity question
(DBN)

Donald Trump Faces Potential Mystery Witness in New York Trial
(DBN)

Jan. 6 rioter nicknamed 'shield grampy' admits to assaulting officers at the Capitol Former Marine dubbed 'Conan O'Riot' admits to trespassing at the Capitol on Jan. 6 Jan. 6 rioter who attacked police officers who testified before committee sentenced
(DBN)

Mar-a-Lago judge will consult legal arguments of 2 right-wing legal groups
(DBN)

Arizona investigators issue grand jury subpoenas as state's 2020 Trump election probe accelerates
(DBN)

Trump allies on the Republican National Committee want to help pay his legal bills
(DBN)

US supreme court ‘erred badly’ with Trump ruling, leading US historian says
(DBN)

Trump Is Facing Some Serious Financial Troubles
(DBN)

Will Cannon Dismiss Trump Documents Case?
(DBN)

Giuliani doesn’t want to sue Trump for $2m. His creditors might make him do it anyway
(DBN)

Trump Makes *Not Terrible* Argument In Carroll Defamation Case
(DBN)

GOP asks Hunter Biden to appear for March 20 public hearing
(DBN)

Latinos say government is doing a ‘bad job’ at the southern border but disagree with non-Latinos on solutions: Pew
(DBN)

Gov. Hochul to deploy 1,000 National Guardsmen, state cops to carry out bag checks in NYC subways
(DBN)

Health insurers slam renewed $185 million fee bid by Quinn Emanuel
(DBN)

Prosecutors Suddenly Ditch ‘Hotel California’ Lyrics Case Charges Dismissed in ‘Hotel California’ Theft Conspiracy Case
(DBN)

8 teens shot at Philadelphia bus stop
(DBN)

Grandmother wins $3.76 million after SWAT raid destroys home
(DBN)

Murder defendant tells judge his stabbing confession was AI-generated
(DBN)

Supreme Court gun battle looms after appeals panel upholds felon firearm ban
(DBN)

Lawyer who crashed snowmobile into Black Hawk helicopter is suing for $9.5 million
(DBN)

Jury finds armorer guilty in fatal 'Rust' shooting Rust trial expert witness ‘points gun at judge’ Jury begins deliberations in case against 'Rust' armorer Hannah Gutierrez-Reed Alec Baldwin looms large in ‘Rust’ armorer trial
(DBN)

Florida set to ban homeless from sleeping on public property
(DBN)

Father of Michigan school shooter facing manslaughter trial
(DBN)

Man poisoned grandma with carbon monoxide to keep her from selling family farm
(DBN)

Chinese 'snakehead' gangs are working with the cartels to bring migrants into the US
(DBN)

______________

Judges:

Special Masters Are Needed In Bankruptcy, Part 4: Inherent Authority Should Not Be Denied
(DBN)

Judges Involved In Trump-Related Cases Are Receiving An Overwhelming Number Of Death Threats
(DBN)

Ken Paxton successfully ousts three Republican criminal appeal court judges
(DBN)

______________

Wall Street:

Nasdaq, S&P 500 futures inch up ahead of more economic data, Powell testimony
(DBN)

______________

Layoffs:

 

______________

Tech:

White House hails ‘important and welcome’ bill that could ban TikTok
(DBN)

Sam Altman is done playing nice with Elon Musk Elon Musk's emails about OpenAI could be another nail in the coffin for his lawsuit against the company Elon Musk's private emails reveal he pushed to make OpenAI part of Tesla Musk wanted control over OpenAI, emails released by the company allege
(DBN)

Sam Altman's eye-scanning Worldcoin banned in Spain
(DBN)

Musk says X is considering removing likes, reposts from content
(DBN)

____________

Climate:

SEC finalizes weakened rule to make companies disclose climate information
(DBN)

How much CO2 emissions might change under Trump
(DBN)

How China Came to Dominate the World in Solar Energy
(DBN)

____________

Education:

Texas places state’s largest charter school network under conservatorship
(DBN)

Trained Dogs, High-Tech Sensors: Inside the Fight Against School Vaping
(DBN)

Proposed law puts teachers on sex offender registry for helping trans students transition
(DBN)

____________

Healthcare:

Hospital debacle puts focus on private equity
(DBN)

Patients struggle to get lifesaving medication after cyberattack on a major health care company
(DBN)

Alabama lawmakers set to vote on finalized IVF protection bill Alabama enacts protections for IVF doctors after court rules embryos are children
(DBN)

Ozempic Side Effects Send Nauseous, Constipated Users to TikTok for Help
(DBN)

____________

Personal Finance:

I make the money, and my husband handles the kids and housework. I've wondered if I'm just a paycheck — it's tough being the 'second choice' parent.
(DBN)

I regret moving to Florida. Living here felt like paradise — until everything changed.
(DBN)

____________

Food/Beverage:

FDA warns about lead contamination in more cinnamon products in the U.S.
(DBN)

Doritos severs ties with transgender influencer in Spain following online boycott threat
(DBN)

Burger King is Closing 400 Stores
(DBN)

____________

Autos:

Tesla is not one of the 10 largest U.S. companies for first time in 13 months A Tesla bull turns bearish, and warns EV maker could lose money this year Morgan Stanley Cuts Tesla Outlook
(DBN)

Inside the ‘Vulkan Group’ anarchist ‘terrorists’ going to war with Elon Musk & Tesla as they spread chaos across Germany
(DBN)

How an indecisive Tim Cook blew $1 billion a year on a vehicle Apple never built
(DBN)

How to Avoid a Crash in Your New Electric Car
(DBN)

____________


Economy:

Powell reinforces position that Fed isn’t ready to start cutting rates Fed chair Powell to Congress: Don't expect rate cuts imminently Fed Chair Jerome Powell wants more proof inflation is falling before cutting interest rates Fed Chair Powell: Semiannual Monetary Policy Report to the Congress The Fed insists it will cut rates this year Fed chief caught in partisan battle over rate cuts as election looms
(DBN)

ADP: Private Employment Increased 140,000 in February Private payrolls rose by 140,000 in February, less than expected, ADP reports
(DBN)

BLS: Job Openings Little Changed at 8.9 million in January
(DBN)

5 things to know about the economy under Biden What Has Biden Accomplished? Look at These 10 Metrics, Not the Polls
(DBN)

Brainard Pushed to Change Biden Budget Forecast to Rosier View
(DBN)

CEOs' confidence in economy surges America's CEOs are suddenly feeling a lot better about the economy
(DBN)

A Trump reelection is the biggest threat to the economy because it would make inflation, debt, and growth worse, ‘Dr. Doom’ Nouriel Roubini says
(DBN)

What Biden could do to bring grocery prices down
(DBN)

The Budget Deal Is Overflowing With $12 Billion of Earmarks House clears long-delayed spending package ahead of shutdown deadline
(DBN)

Senate finance leaders squabble over tax package proposals
(DBN)

Biden to highlight plans to deny tax breaks to wealthy companies, raise corporate tax rate in State of the Union
(DBN)

Credit scores decrease for the first time in a decade as more borrowers fall behind on payments
(DBN)

As late, missed payments rise, credit card borrowers face ‘consequences,’ CFPB says
(DBN)

Biden rule threatens to throw independent contracting into disarray
(DBN)

Minority business agency must serve all races, a federal judge rules
(DBN)

'Out of control' Five Guys prices ignites social media furor after $24 receipt for just burger, fries, small drink goes viral
(DBN)

US Stock Buybacks to Hit $1 Trillion in 2025, Goldman Says
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

______________

Real Estate:

Asking Rents Mostly Unchanged Year-over-year
(DBN)

A Colorado ski town can't fill a job with a $167,000 salary because potential candidates can't afford to live there
(DBN)

____________

Oil/Gas:

Lawsuit accuses oil, gas companies of fraud after bankruptcy results in 200 “orphan” wells in Colorado
(DBN)

Regulators to Spire: You made this mess. You clean it up.
(DBN)

____________

Politics:

Goodbye America! A quarter of US adults want their state to secede
(DBN)

McConnell endorses Trump for president as Haley suspends campaign McConnell endorses Trump for president, despite years of criticism McConnell pans ‘totally inappropriate’ idea of term limits for Senate GOP leaders
(DBN)

Trump asks for GOP unity, facing fractures and legal, financial troubles
(DBN)

Nikki Haley drops out of GOP presidential race and says Trump has to "earn" support Trump insults Nikki Haley and her voters, then encourages them to back him Nikki Haley's campaign is over, but the battle is on for her supporters Haley flopped. But she exposed Trump’s weaknesses on her way out Biden camp looks to reel in Nikki Haley donors Trump has choice to make when it comes to Haley voters
(DBN)

Nikki Haley proved Trump still has a problem with suburban voters. It could cost him the election
(DBN)

Poll: only 12 percent of voters primarily motivated by abortion
(DBN)

Dean Phillips ends presidential campaign and endorses Biden
(DBN)

The Cocoon Election: Do we really have to do this again?
(DBN)

Trump says he will debate Biden anytime Trump Begs for a Debate With Biden After Skipping Every Primary Debate
(DBN)

It’s Not Just That Biden Is Old
(DBN)

If Trump is reelected, Americans are planning to flee in droves
(DBN)

Greene tells reporter to ‘f--- off’ after question about Jewish space lasers
(DBN)

Boebert, Colorado Republicans push recall effort against state official after Supreme Court’s Trump ruling
(DBN)

Raskin: GOP being reduced to a ‘cult of authoritarian personality’
(DBN)

Rove says Trump Team ‘ought to be concerned’ after Super Tuesday
(DBN)

House GOP tries to shut down State of the Union heckling
(DBN)

Biden’s plan for Trump: Bury him with campaign cash
(DBN)

Democrats ready to hit panic button in Trump-Biden race Bernie Sanders’s private warning to Biden about the 2024 campaign
(DBN)

Republicans just passed up the chance to win a historic landslide
(DBN)

Democrats’ latest problem: 1 in 5 Latino voters are considering switching parties
(DBN)

Musk says he won’t spend on presidential race after reports of Trump meeting
(DBN)

Texas GOP leaders begin purge of Republicans who defied them
(DBN)

Mark Robinson, the North Carolina GOP nominee for governor, is off the rails even by MAGA standards
(DBN)

Bipartisan group pitches border-Ukraine bill as ‘pressure point’ on GOP leaders
(DBN)

"Uncommitted" wins 11 delegates in Minnesota Democratic primary Democratic donors sound the alarm to Biden about strength of 'uncommitted'
(DBN)

Biden Preps for the State of the Union Speech and Rowdy Republicans
(DBN)

MyPillow CEO touts 'huge case' on the horizon, predicts SCOTUS will rule 9-0 in his favor
(DBN)

____________

Crypto:

EU Poised to Enact Sweeping AI Rules With US, Global Impact
(DBN)

The FTX Saga Twist That Might Save SBF in Sentencing
(DBN)

FTX May Pay $874 Million to BlockFi as Settlement Deal BlockFi customers could receive $250 million ahead of other creditors in FTX settlement Crypto Endgame: BlockFi Near Full Recovery After Deal with Bankrupt FTX Empire
(DBN)

Pantera Raising Funds to Buy Big Solana Holding From FTX Estate
(DBN)

Crypto venture firm seeks dismissal of New York attorney general's fraud lawsuit
(DBN)

Cryptocurrency fraud is now the riskiest scam for consumers, according to BBB
(DBN)

____________

Banking:

NYCB shares rebound after troubled regional bank announces $1 billion capital raise
(DBN)

How Did NYCB Miss Years of Real Estate Warning Signs?
(DBN)

____________

Movie Theaters:

Metropolitan Theatres files Chapter 11 to renegotiate cinema leases
(DBN)

____________

Buses:

Bus Operator Coach USA Taps Financial Restructuring Advisers
(DBN)

____________

Celebs:

Elon Musk Allegedly Did Illegal Thing, Didn’t Bother To Even Try To Hide It, And Then Bragged About It In A Book
(DBN)

____________

Tax:

Actor Terrence Howard Hit With A Judgment For More Than $900,000 In Back Taxes While Claiming It Is Immoral To Tax Descendants Of Slaves
(DBN)

____________

Bankruptcy Crimes:

Peoria Man Pleads Guilty to Wide-Ranging Fraud Scheme
(DBN)

____________

Consumer Finance:

Cash-Advance Pioneer Yellowstone Sued by New York for $1.4 Billion
(DBN)

____________

Labor:

Toyota plant in Missouri launches union drive as UAW aims to expand
(DBN)

____________

 


New Bankruptcy Opinions
(10 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (18 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (3 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Mass Torts:

Md. law removing time limits on child sex abuse suits is constitutional, judge rules
(DBN)

First Post-Bankruptcy Talc Trial 'Hopelessly Deadlocked'
(DBN)

Alex Jones’ Infowars Parent Wants a New Bankruptcy Lawyer
(DBN)

____________

Cross-Border:

Chapter 11 Restructurings of Latin American Energy Companies
(DBN)

____________

Standing:

Court Finds That Delaware Law Does Not Preclude Derivative Standing in Bankruptcy but Reaffirms Validity of Exculpation Provisions
(DBN)

____________

Aviation:

Spirit Airlines dips amid report creditors preparing for potential issues Spirit Air Bondholders Plot Strategy as Carrier Sputters Spirit Airlines stock closed at a record low as creditors braced for the end
(DBN)

Boeing stonewalling Alaska Airlines investigation, federal accident chief says
(DBN)

Nordic airline SAS posts smaller Q1 pretax loss Nordic airline SAS sees strong leisure travel, but cost headwinds
(DBN)

Azul Working With Investment Banks in Potential Takeover of Bankrupt Rival Gol
(DBN)

Large space company Astra is on the verge of bankruptcy
(DBN)

____________

Utilities:

Texas Republicans to introduce resolution opposing adding ERCOT to national grid
(DBN)

Puerto Rico's power company holds a massive debt. A key hearing to restructure it has started
(DBN)

Puerto Rico waits anxiously for EPA power plant approval
(DBN)

Texas Utility Pole at Center of Wildfire Suit Was Marked Unsafe to Climb
(DBN)

Buffett’s Oregon Fire Costs Grow as He Sours on Utilities
(DBN)

PG&E seeks break on part of a $1 billion payment to wildfire bailout fund
(DBN)

____________

Retailing:

Foot Locker shares plunge more than 20% as retailer posts holiday loss, delays key financial target
(DBN)

Victoria’s Secret Falls on Weak Guidance in Faltering Turnaround
(DBN)

____________

Sovereigns:

NY Politicians Renew Push to Solve Sovereign Debt Crises
(DBN)

Egypt secures extra $5 bn in IMF loans as pound plunges
(DBN)

Pakistan: The creditors’ view
(DBN)

____________

UK:

Additional Caution Required for Insolvency Practitioners Relying on Companies House Filings
(DBN)

Keller Williams UK Undergoes Major Restructuring Amid Creditors Meeting Notice Keller Williams UK master license holder notifies creditors of insolvency plans
(DBN)

Charles Turner joins Opus as third sector restructuring expert
(DBN)

UK government abolishes centuries-old tax breaks for the rich in preelection budget announcements
(DBN)

'We can't take any more cuts': Furious residents lay bare misery of living under crashed councils Bankrupt Labour council passes 'worst budget ever' as it attempts to claw back £300m
(DBN)

Body Shop employees fired in mass-sacking urge ministers to reform ‘exploitative’ laws
(DBN)

UK Firms Expect Stubborn Wage Growth of Over 5% Despite CPI Fall
(DBN)

UK Is ‘On Track’ for 4% Hit to Economy From Brexit, OBR Says
(DBN)

____________

EU:

ECB’s ‘Horrible’ Prospect Is If Fed Doesn’t Cut, Subran Says
(DBN)

____________

Canada:

2023 Business Insolvencies in Canada
(DBN)

____________

Germany:

Milbank Expands Its Financial Restructuring Practice in Germany with Addition of Dr. Marlene Ruf
(DBN)

German Factory Orders Plummet as Major Orders Retreat
(DBN)

____________

Russia:

Are Sanctions Showing Effect? Russian Businesses Declare Bankruptcy in Droves
(DBN)

Russian missile nearly hits Zelensky’s motorcade Russian Strike on Odesa Comes as Zelensky and Greek Leader Were There
(DBN)

Russian oligarch’s yacht is costing U.S. taxpayers close to $1 million a month
(DBN)

Russians Flock to Navalny’s Grave as They Grapple With His Legacy
(DBN)

Ukrainian POWs are being bought and sold on a Russian black market, report says
(DBN)

What US allies want from the State of the Union: Love for Ukraine
(DBN)

Mystery GPS Jamming on NATO Borders Fomenting 'Atmosphere of Threat'
(DBN)

____________

MENA:

Vigilantes try to uphold order as war batters Gaza's Rafah
(DBN)

Gazan civilians unable to evacuate to Egypt, but families of Hamas officials can - report
(DBN)

For Gazans, Truce Talks Bring Tangle of Emotions
(DBN)

Tensions in Israel war cabinet as Gaza conflict rages
(DBN)

Israeli tank in 'likely scenario' fired machine gun at reporters after deadly shelling, report finds
(DBN)

U.S. warship downs Houthi drones and missiles fired at it in Red Sea, as Iran says it's seizing oil shipment
(DBN)

Hamas holds key to ceasefire, says Joe Biden after peace talks falter
(DBN)

____________

China:

The Lehman liquidators taking on China’s Evergrande
(DBN)

____________

Haiti:

Haiti's top gang leader warns of "civil war that will lead to genocide" unless prime minister steps down U.S. fears Haiti could fall ‘at any time’ as doubts grow over Biden’s backup Kenya plan
(DBN)

____________

France:

Police raid Paris town hall over mayor’s £51,000 trip to Tahiti
(DBN)

____________

India:

Only creditors distribute assets discovered after CIRP
(DBN)

TM Rights In ‘Shakti Bhog’ Controversy Amid Insolvency Proceedings
(DBN)

____________

Australia:

Navigating Bankruptcy's Legal Maze: The Constitutional Imperative in Creditor's Petitions
(DBN)

Insolvency in Australia: 2023 in review
(DBN)

____________

Argentina:

Argentina's 'troll' president: Milei takes aim at rivals online
(DBN)

____________

Hong Kong:

Hong Kong property agents expect more big-ticket foreclosures this year
(DBN)

____________


The Daily Bankruptcy News is primarily a curated news link gathering service.   Most of the headlines contained in the publication are a collection of links to stories posted on the Internet by various third party publications.  Such content is owned by third party sources, not The Daily Bankruptcy News, and in some cases, these links change or expire, which means you may not be able to view some news stories in prior editions of the Daily Bankruptcy News. The DBN subptption fee is not a fee for access to the content of the links, but is a charge for the considerable work involved in gathering, organizing and presenting the links. Use of this site and The Daily Bankruptcy News is subject to our Terms of Use. If you received The Daily Bankruptcy News via email (and you have a paid subscription account), to view a news story, click on the headline, and the story should open in your web browser. To view additional stories, click back to the email and click on additional headlines, which will cause new stories to open in your web browser.  You can view the most recent edition of The Daily Bankruptcy News on the web at BKInformation.com.

Advertising
Advertising is available in The Daily Bankruptcy News. Click here for details  Feel free to contact us with any questions.

Passwords/Subscriptions
Access to certain links in The Daily Bankruptcy News is available only to readers holding a paid service subscription. These links are currently marked with a "DBN" notation. The cost of a subscription is $75.00/year, payable annually.  Volume discounts are available for sites with multiple users. Click here to see a schedule of discounts. Complimentary subscriptions are available for full-time educational and governmental employees and for full time students. For information about discounts or educational/governmental subscriptions, contact us by clicking here. A separate password is required for each member of a firm wishing access to restricted links.

New readers can receive a free password good for 30 days by clicking here. 30-day passwords are not available to readers who have previously had a password, even if the password was associated with a different email address used by the reader. Refunds are not available after purchase.

Readers who wish to change their passwords should click here. Readers who have forgotten their password should click here.

Adding Your Email Address To The Distribution List
If you would like to start receiving The Daily Bankruptcy News by email each day, click here, and fill in the information requested. There is no charge to be placed on the distribution list to receive the headlines, although access to many of the links behind the headlines requires a paid subscription (see above, under Passwords). If, after adding your email address to the distribution list, you do not receive an email confirming the addition, please contact us by clicking here for help.

Removing Your Email Address From The Distribution List
If you already receive The Daily Bankruptcy News by email and you wish to remove your email address from the distribution list, click here and send the email that should appear. You do not need to type anything in the body of the email message. Note that the email asking for removal must be sent from the same email address which is on our distribution list. If you do not receive an email confirming deletion of your email address from the distribution list, contact us by clicking here for help.

If receive the publication forwarded from an older email address, you will need to contact us as described below for help removing that older address from our distribution list.

Press Releases/News Tips
Please send press releases and news tips to admin@bkinformation.com

Contact Us
The Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C. You can phone or text us at 281-402-3957. You can email us at accounting@bkinformation.com (email inquiries are usually answered substantially more quickly than phone inquiries). Our mailing address is 935 Eldridge Road, No. 350, Sugar Land, Texas 77478.

Copyright 2024