March 8, 2024

The Daily Bankruptcy News

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Law:

Cravath Raises Bonuses -- Clerkship Bonuses, That Is
(DBN)

Clifford Chance grows Restructuring & Insolvency practice with addition of partners Brian Lohan and Maja Zerjal Fink in New York
(DBN)

Top 50 Biglaw Firm Gets Bigger, Better Space To Entice Lawyers To Work From The Office
(DBN)

So Far in 2024, Law Firms Are Building on Bankruptcy
(DBN)

Kirkland & Ellis Faces Layoffs Amidst Market Turbulence
(DBN)

Gordon Rees Posts 15% Revenue Gain as It Pushes National ‘Brand’
(DBN)

Corporate Boards Dislike Lawyers, Starbucks General Counsel Says
(DBN)

First new US law school since 2017 gets ABA provisional approval
(DBN)

A 'Preview' Of The 2025 U.S. News Law School Rankings
(DBN)

Finally, Some Good News For Golden Gate University Law Students
(DBN)

Lawyer who wrote on ethics issues is suspended after he is accused of helping client hide assets
(DBN)

Lawyers, witnesses used privilege to ‘obfuscate and hide information’ in Eagles stolen-lyrics trial, judge says
(DBN)

UK: Law firms' cultures ranked from best to worst
(DBN)

Pinsent Masons partner's tragic death triggers debate on work/life balance
(DBN)

Dentons partner called colleague a ‘big prick’ for requesting client compliance checks
(DBN)

DLA Piper introduces AI to cut due diligence workload by 80%
(DBN)

Trump Hit With UK Legal Bill After Losing Case
(DBN)

Giuliani v. Trump? Giuliani creditors want evidence of Trump’s $2m arrangement with his ex-lawyer
(DBN)

Jack Smith Speaks With Mystery Witness in Trump Case
(DBN)

Judge in classified documents case will hear Trump motions to dismiss next week
(DBN)

Special counsel: Trump’s ‘deception’ on classified docs distinguishes him from Biden, Clinton and Pence
(DBN)

Fulton County ethics board drops Fani Willis complaints from hearing
(DBN)

Judge denies Trump's request for more time to pay damages in Carroll defamation case
(DBN)

Hush money judge orders juror identities be kept secret
(DBN)

Trump’s on the ballot, but the Supreme Court left key constitutional questions unanswered
(DBN)

The Perfect Taylor Swift Song For The Department Of Justice
(DBN)

Dad could have prevented Michigan school shooting ‘nightmare,’ prosecutor tells jury
(DBN)

US Justice Dept to offer more rewards to corporate whistleblowers
(DBN)

‘Rust’ armorer’s trial gives Alec Baldwin’s team a window into how his own trial could unfold Jurist Explains 'Rust' Armourer Guilty Verdict
(DBN)

Uvalde shooting: New report clears officers of blame to dismay of families Residents lash out at Uvalde city leaders, police after report on Robb Elementary shooting
(DBN)

Army reservists deflect blame when questioned about Lewiston, Maine, shooting that left 18 dead
(DBN)

Harsh rhetoric on migrants raises fears of more Latino hate crimes Fact Check: Trump claims 325,000 migrants ‘were flown in from parts unknown’
(DBN)

The DNA scandal that could threaten thousands of criminal cases
(DBN)

US Army soldier indicted and accused of selling sensitive military information
(DBN)

"Weekday At Bernie's" Premieres In Ohio
(DBN)

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Judges:

BK SD NY: Coronavirus Covid-19 Pandemic Restrictions on Entry Into Courthouses
(DBN)

Biden admonishes the Supreme Court for overturning Roe v. Wade
(DBN)

Mischief Makers
(DBN)

Judge tells US it’s not his job to search for better evidence as he strikes down minority business program
(DBN)

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Wall Street:

US futures edge up as investors wait for key jobs report
(DBN)

S&P 500 jumps 1% for fresh closing record, Nasdaq pops 1.5% to touch all-time high
(DBN)

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Layoffs:

Layoffs rise to the highest level for any February since 2009, Challenger says
(DBN)

Rite Aid suddenly reverses severance payments to laid-off workers: ‘My bank account is now negative’
(DBN)

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Politics:

Biden uses feisty State of the Union to contrast with Trump, sell voters on a second term Biden Jump-Starts 2024 Race in State of the Union Aimed at Trump Biden takes on Trump and Republicans in fiery State of the Union speech Biden’s Speech Thrills Ukraine Watchers. Others, Not So Much. 7 takeaways from Biden's fiery State of the Union FactCheck: State of the Union Address 'Wake up': Biden delivers fiery State of the Union — sparring with critics and swiping at Trump Biden chooses a hammer over an olive branch President Biden rails against ‘my predecessor’ in fiery State of the Union speech Biden stares down questions about his age and fitness for office with spirited speech Biden jabs Trump: 'You can't love your country only when you win' "Outrageous": Biden repeatedly jabs Trump during State of the Union Biden to Dems: I got this Takeaways from Biden’s State of the Union address: Combative attacks on a foe with no name Biden says her name — Laken Riley — at urging of GOP Rep. Marjorie Taylor Greene Biden turns on charm and confronts GOP hecklers; Sen. Katie Britt delivers intense response Katie Britt’s ‘Completely Weird’ State of the Union Response Gets Brutal Reviews Katie Britt slams Biden on border in SOTU response Fired up Biden challenges GOP on immigration and abortion Trump offers lukewarm, glitchy response to Biden criticism Biden gets cold shoulder from progressive "Squad" at State of the Union Biden's State of the Union hecklers face internal GOP groans State of the Union guest charged for disrupting Biden's speech
(DBN)

‘Sick’: Biden campaign blasts MAGA PAC over ad suggesting president might die
(DBN)

What Trump says he would do in a second term
(DBN)

Ronna McDaniel Shows Why Nearly Every Alliance With Trump Eventually Frays
(DBN)

1 in 8 voters rank abortion as top issue: poll More Black women say abortion is their top issue in the 2024 election, a survey finds
(DBN)

Larry Hogan doesn't commit to federal IVF protections Johnson won’t say if destruction of embryos during IVF process is murder
(DBN)

Larry Hogan says he won't vote for Trump
(DBN)

Mnuchin Says He Would Consider Serving Trump If He Wins in 2024
(DBN)

Most voters oppose candidates who campaign against transgender people: Poll
(DBN)

Nearly 70% of LGBTQ likely voters prefer Biden over Trump, GLAAD poll finds
(DBN)

State of the Union guests spotlight divide on abortion and immigration but offer some rare unity Democrats pin 2024 hopes and fears on Biden's State of the Union Johnson calls for House to 'turn the temperature down' on heckling
(DBN)

Byron Donalds wouldn't commit to certifying election results as Trump's VP
(DBN)

Porter doubles down on claims California Senate race was ‘rigged by billionaires’ after loss
(DBN)

Trump's ex-doctor demoted by Navy for inappropriate behavior in White House Navy demoted Ronny Jackson after damning report on White House conduct
(DBN)

Donald Trump using makeup and hair 'to look younger' than Joe Biden as age concerns mount
(DBN)

Jewish Democrats wrongly listed as backers of pro-Palestinian bill
(DBN)

Stormy Daniels suggests in new film alleged sexual encounter with Trump wasn't consensual
(DBN)

With Sinema out, Democrats see clear path to Arizona Senate win
(DBN)

Trump to get intelligence briefings despite classified documents criminal trial
(DBN)

Menendez to be arraigned on new charges in obstruction and bribery scheme New Jerseyans to Menendez: Get out
(DBN)

Republican public schools nominee supports political killings and ‘death’ to Bill Gates
(DBN)

Former Rep. George Santos announces run for Congress
(DBN)

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Economy:

Fed's Flow of Funds: Household Net Worth Increased $4.8 Trillion in Q4 US Household Net Worth Rose to Record in 2023 on Stock Holdings
(DBN)

Americans see ‘state of the union’ as divided, but economic views tick up: Poll
(DBN)

Weekly Initial Unemployment Claims Increase to 217,000 US Jobless Claims Hold at Historically Low Level of 217,000
(DBN)

February Employment Preview
(DBN)

'The Great Stay': Layoffs, unemployment remain low as job market shows other signs of weakness
(DBN)

Jobs report Friday is expected to show a slowing but still healthy labor market
(DBN)

Biden-Trump rematch: How dueling economic records stack up
(DBN)

Fed’s Mester Sees Rate Cuts This Year If Inflation Keeps Cooling
(DBN)

Fed Is ‘Not Far’ From Confidence Needed to Cut Rates, Powell Says Key Takeaways From Fed Chair Powell’s Senate Testimony Fed Chair Powell calls U.S. economy 'sustainable, solid, strong' as inflation drops ‘We’re doing the best of anybody’: Powell delivers sunny economic outlook to Congress
(DBN)

Fed’s Powell Skeptical of Inflationary Impact of Surge Pricing
(DBN)

SOTU: Biden to preview populist second-term economic agenda Corporate taxes, consumer costs top economic agenda in Biden State of the Union Biden Says He'll Make the Wealthy Pay More To Fix Social Security. Here's Why That Won't Work.
(DBN)

Governments ‘Can’t Keep Us Aloft Forever,’ Oaktree’s Marks Says
(DBN)

Confidence in the Global Economy, by Country
(DBN)

BLS Denies Having List of ‘Super Users’ After CPI Email Drama
(DBN)

US salaries are falling. Employers say compensation is just 'resetting'
(DBN)

OECD sees total bond debt to rise in 2024 on tightening financial conditions
(DBN)

Republicans advance 2025 budget blueprint ahead of Biden’s State of the Union
(DBN)

Trade Deficit at $67.4 Billion in January
(DBN)

Concerns about union strikes at East Coast, Gulf ports rise, leading to trade diversions
(DBN)

U.S. Bank mandates 3 days a week in the office
(DBN)

The American Economy: An Evolutionary Arms Race Between Greedy Corporations And Karen Customers
(DBN)

‘The tide hasn’t gone out.’ Howard Marks says 2025 will show investors who’s been swimming naked
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

The "Home ATM" Closed in Q4
(DBN)

Mortgage Rates in US Drop for First Time Since Early February
(DBN)

The housing market may finally be thawing as mortgage rates and housing inventory improve
(DBN)

Gimme shelter: The lag in inflation for living spaces
(DBN)

The Fed 'went crazy' with rates and did big damage to the real estate market, billionaire mogul Barry Sternlicht says
(DBN)

Rene Benko files for sole trader insolvency after Signa collapse
(DBN)

ECB Is Watching Commercial Real Estate Closely, Guindos Says
(DBN)

House Prices Hit $1 Million in One Small US City
(DBN)

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Municipalities:

San Francisco, the liberal beacon, embraces conservative ballot measures
(DBN)

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Banking:

Powell: ‘There will be bank failures’ caused by commercial real estate losses Powell predicts CRE woes will hit smaller banks hardest
(DBN)

FDIC Says ‘Problem Bank List’ Grew By 8 Lenders Last Quarter
(DBN)

U.S. bank profits drop 44% in Q4 as big firms cover failed bank costs
(DBN)

NYCB says it lost 7% of deposits in the past month, slashes dividend to 1 cent How a surprise investment in NYCB helped avert a 2024 bank crisis
(DBN)

Mnuchin Leaps Into Bank Turmoil With Familiar Playbook and Ally Steven Mnuchin leads $1 billion attempt to rescue NYCB NYCB Stock Climbs After $1 Billion Lifeline. We Do the Math.
(DBN)

NYCB’s New Boss Wants It to Look More Like Other Regional Banks
(DBN)

Keeping banks hydrated is next on the Fed's to-do list
(DBN)

Wells Fargo’s ‘willful blindness’ enabled former lawyer’s fraud, victims’ suit alleges
(DBN)

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Healthcare:

How OSF Is Pushing Through Rural Health Money Woes
(DBN)

Corporate Greed Made the Change Healthcare Cyberattack Worse
(DBN)

Federal court to hold Atrium auction as part of Chapter 11 process; local organizations interested
(DBN)

Kansas could soon make doctors ask patients why they want abortions and report the answers
(DBN)

Two Alabama Clinics Resume IVF After New Law Goes Into Effect
(DBN)

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Climate:

Earth had warmest February on record as this year trends hotter than 2023 The planet just shattered heat records for the ninth month in a row
(DBN)

I’m a climate scientist. If you knew what I know, you’d be terrified too
(DBN)

Winter storms help end ‘snow drought’ across parts of the US West
(DBN)

EU underprepared as climate change risks mount, draft report says
(DBN)

China’s growth ambitions will erase the world’s climate gains
(DBN)

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Celebs:

Elon Musk is lashing out at MacKenzie Scott, Jeff Bezos' ex, for donating billions to charities for women and minorities
(DBN)

Jeff Bezos only lasted a few days as the world's richest person — now it's Bernard Arnault again
(DBN)

‘Stormy’ Documentary Trailer Shows Stormy Daniels’ Chaotic Life Battling Donald Trump
(DBN)

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Conduit Debt:

Another Arizona conduit authority borrower files for bankruptcy Harvest Gold Silica Inc. Files for Chapter 11 Amid Bond Default, Shakes AZIDA's Foundation
(DBN)

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Debt Collection:

U.S. Seeks to Collect on Up to $20 Billion in Delinquent Covid Loans
(DBN)

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Media:

“The Locusts Of The Newspaper World”: How Fortress Investment Group Decimated Newspapers Before Gutting Vice
(DBN)

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Sports:

Honey Hunters owner gets more bad news in court
(DBN)

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Maritime:

Pleasant Holidays and others are listed as American Queen Voyages' creditors
(DBN)

Travelers booked the residential cruise of their dreams. Now, some doubt it'll happen — and say they've waited months for refunds.
(DBN)

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Hedge Funds:

Crispin Odey Sexual Misconduct Allegations Stack Up in UK Suit
(DBN)

Hedge Fund Manager Not Inclined To Listen To Judge, Lawyers, Remains Available For Handcuffs
(DBN)

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Agribusiness:

Solar Panels Spread Across America's Heartland as Farmers Chase Stable Returns
(DBN)

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New Bankruptcy Opinions
(7 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (20 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (1 new filing today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

US corporate bankruptcies rise in February as healthcare filings surge
(DBN)

BK ME: February 2024 Statistics
(DBN)

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Examiners:

Let’s Examine Examiners
(DBN)

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Mass Torts:

Supremes First Side With 144 Claimants Against >82,000 Other Claimants, But Then Vacate: A Good Sign? (Lujan Claimants v. Boy Scouts)
(DBN)

Rite Aid Advisers Rake in Millions Through Bankruptcy. Opioid Victims Brace For Nothing.
(DBN)

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Aviation:

Boeing 737 Max Under Investigation Over Recent Rudder Failure
(DBN)

United Air Hits Pause on Pilot Hiring, Citing Boeing Max Delays
(DBN)

United Airlines plane loses a tire during takeoff
(DBN)

Space company Astra going private to avoid bankruptcy after dismal public run
(DBN)

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Utilities:

Xcel Energy says its facilities appeared to have role in igniting largest wildfire in Texas history
(DBN)

Huge Texas Blaze Shows Power-Line Fires Are a Widespread Threat
(DBN)

Amid explosive demand, America is running out of power
(DBN)

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M&A:

Private deals powering U.S. corporate M&A
(DBN)

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Autos:

EV charging station company files for Chapter 11 bankruptcy EV Charge Station Maker Charge Enterprises Files Bankruptcy
(DBN)

Wholesale Used Car Prices Declined in February; Down 13.1% Year-over-year
(DBN)

Fisker's electric SUV got a terrible review. It's turned into a whole saga.
(DBN)

Rivian Pauses New Factory to Save Cash as It Unveils Cheaper EV
(DBN)

Musk's 'Apocalypse-Proof' Cybertruck Defeated by Beach
(DBN)

EVs will be cheaper to produce than gas-powered cars within 3 years, market research firm says
(DBN)

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Tech:

Top scientist warns AI could surpass human intelligence by 2027
(DBN)

Trump Media SPAC Avoids Legal Roadblock on Way to Merger Vote Truth Social Backer Furious the Luxury Gym He Owns Smells Like Poop
(DBN)

Thousands of children call Congress to save TikTok: Crying users 'hammer' lawmakers' phones from school and tell them to vote against bill that could ban the app because of links to China Furious Congress plows forward with TikTok bill after user revolt Republican billionaire with $33B stake 'bullies' members, tries to stop
(DBN)

Fake images made to show Trump with Black supporters highlight concerns around AI and elections
(DBN)

Tech stocks see biggest weekly outflow on record, BofA says
(DBN)

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Crypto:

Gemini Considered Merger With Genesis Before Bankruptcy
(DBN)

Terra’s Do Kwon to Be Extradited to South Korea Instead of US, Montenegro Court Rules
(DBN)

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Personal Finance:

I was a 'trad wife' who got married on an 11th date. Influencers make this life look idyllic, but I had no money and no control.
(DBN)

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Sovereigns:

Egypt Expects IMF Deal to Catalyze $20 Billion in Foreign Funds
(DBN)

Zambia's Foreign Debt Tragedy What Needs To Happen To Resolve The Crisis
(DBN)

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UK:

UK Insolvency Service looks to ban Lex Greensill from running companies for 15 years
(DBN)

UK Insolvency Service Tightens Bankruptcy Rules Amid Covid Loan Fraud
(DBN)

Britain Decides to Tax the Rich
(DBN)

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EU:

Lagarde Signals ECB Cut in June With 2% Inflation in Sight Traders Step Up ECB Rate-Cut Bets on Bleaker Economic Outlook
(DBN)

ECB policymakers line up behind upcoming rate cut
(DBN)

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Austria:

Austrian property tycoon Rene Benko files for insolvency
(DBN)

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Russia:

Russia Hit By Tsunami of Bankruptcies Russia's economy appears resilient, but companies are going bankrupt by the hundreds
(DBN)

Yellen says House GOP delay on Ukraine aid is "a gift to Putin"
(DBN)

Democrats Probe SpaceX Over Russia’s Alleged Use of Starlink
(DBN)

Fake U.S. local news network exposed as Russia-linked propaganda front: report
(DBN)

Sweden’s NATO Accession Unlocks Defense Options to Fend Off Russia Jets, guns and subs: What Sweden brings to NATO
(DBN)

Germany and UK Vow Not to Let Putin Divide Ukraine’s Allies
(DBN)

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MENA:

Biden to Direct Military to Establish Gaza Port to Deliver Aid Gaza aid not a 'bargaining chip,' Biden warns Israel as he unveils plan for temporary port
(DBN)

Progressives want much more from Biden on Gaza
(DBN)

China: War in Gaza is a Disgrace to Civilization
(DBN)

After months of warnings that Israel’s siege is causing famine, children begin to die in Gaza
(DBN)

Inside José Andrés' risky mission to get food to Gaza
(DBN)

Hamas Negotiators Leave Cairo With No Breakthrough in Cease-Fire Talks Hopes Fade of Gaza Cease-Fire Before Ramadan After Failed Talks
(DBN)

'Crumbs of freedom': Saudi sisters prove limits of social change
(DBN)

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China:

China seeks ways to revive slowing economy and salvage property market
(DBN)

China's top court, prosecutors report surging cyberscams
(DBN)

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Haiti:

Haiti gangs torch police stations as PM's future hangs in balance
(DBN)

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Brazil:

Brazil's 2023 farmer bankruptcy filings up 535 pct, raising alarm bells
(DBN)

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Romania:

Number of insolvent Romanian cos up 17% y/y in Jan
(DBN)

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Sudan:

World's Largest Hunger Crisis Looms in Sudan
(DBN)

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