May 7, 2025

The Daily Bankruptcy News

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Law:

What Happened When Trump Altered the Deal With Law Firms and Universities Donald Trump's Legal Nemesis Makes Vow After '60 Minutes' Segment Some Giant Law Firms Shy Away From Pro Bono Immigration Cases Law firms defend Trump deals in letters to Democratic lawmakers 'Complete independence': Law firms that 'caved' to Trump say they choose their own 'pro bono' clients Law firms that caved to Donald Trump are revealing they have ways to wriggle out of the deals
(DBN)

‘A lawyer with wet socks wins twice as many motions,’ and Other Little-Known Lawyer Idioms, via Gen AI
(DBN)

Jones Walker Grows Miami Office with New Bankruptcy Special Counsel
(DBN)

Slaughter and May holds junior lawyer pay at £150,000
(DBN)

California State Bar files lawsuit after exam fiasco
(DBN)

AI Use Draws Public Reprimand
(DBN)

The B Word: Counsel suspended for referring to opposing counsel and his own client
(DBN)

Rwanda to accept deportees from United States Migrants deported by Donald Trump set to be sent to Rwanda hotels built by Britain ICE Agents Storm D.C. Restaurants and Demand To Interrogate Employees: ‘Pretty Unnerving’ GOP senators draw line against Trump shipping US citizens to foreign prisons In Pennsylvania town, immigrants, natives face uncertainty of deportations, closed factory Justice Department investigating 2022 Abrego Garcia traffic stop: Sources Hearing to be held over removed Venezuelan migrant What the Constitution, Supreme Court say about 'due process' for Trump deportees Florida's Plan to Replace Migrant Workers With Children Falls Apart Trump-Voting Parents 'Feel Betrayed' After ICE Agents Detain Their Son
(DBN)

Trump pick for D.C. federal prosecutor opposed by key Republican GOP leader: Trump pick to serve as U.S. attorney for DC won’t reach floor
(DBN)

FBI has opened 250 investigations tied to violent online network '764,' official says
(DBN)

Ex-DOJ Lawyers Start Firm to Fight Trump Federal Worker Firings
(DBN)

Luigi Mangione's legal defense fund hits $1 million in donations
(DBN)

Prosecutors blast celebrity lawyer working with Diddy for blabbing about trial on his TMZ podcast Why Sean 'Diddy' Combs defense lawyers face uphill battle in bid to undermine accusers The hidden ways Diddy trying to connect with jurors in trial
(DBN)

Whole Lotta Legal Argument: Led Zeppelin Guitarist Page Sued
(DBN)

Husband Kills Wife With Sword, Walks Into Police Station
(DBN)

Woman Who Called Kid N-Word Raises Over $700K in Just 5 Days
(DBN)

Woman says security guard at Liberty Hotel in Boston confronted her in bathroom, asked to prove gender
(DBN)

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Judges:

A Clue From the Supreme Court on How It Will Handle Trump
(DBN)

Supreme Court allows Trump administration to enforce trans military ban
(DBN)

Trump administration ordered to admit thousands of refugees
(DBN)

2nd judge rules Trump's use of Alien Enemies Act for deportations is unlawful Trump Can’t Deport Alleged Gang Members Under Alien Enemies Act, NY Judge Rules CIA Brutally Fact Checks Trump’s Rationale for Using Alien Enemies Act
(DBN)

Trump administration urges court to prevent release of pro-Palestinian students
(DBN)

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Wall Street:

Stock futures rise on news of upcoming U.S.-China trade talks
(DBN)

Paul Tudor Jones says stock market will hit new lows even if Trump cuts China tariffs to 50% A billionaire hedge fund manager has a chilling stock market warning
(DBN)

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Layoffs:

Columbia cuts 180 staffers funded by federal grants revoked by government
(DBN)

Big Four firm PwC is cutting 1,500 jobs because not enough staff are leaving by choice
(DBN)

Department of Transportation is latest federal agency expecting layoffs
(DBN)

VF lays off about 400 employees
(DBN)

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Weight-Loss:

WeightWatchers Files for Bankruptcy Amid Wave of New Weight-Loss Methods WeightWatchers files for bankruptcy protection to eliminate debt burden WW International sinks on Chapter 11 bankruptcy declaration WeightWatchers files for bankruptcy amid rising use of Ozempic, other obesity drugs
(DBN)

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Education:

Major universities sue to block Trump cuts to NSF research funding
(DBN)

Education Department warns universities over student loan repayments
(DBN)

As Trump battles elite colleges, House GOP looks to hike endowment tax by tenfold or more
(DBN)

Could Columbia Change Who Gets to Set the Rules on Protests?
(DBN)

A Student Journalist Covered a Pro-Palestine Protest. Soon, Her Graduation Came Under Threat.
(DBN)

More than 25 protesters arrested after taking over University of Washington building
(DBN)

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Climate:

Why 35 House Democrats Joined Republicans Against a Major Climate Policy
(DBN)

Trump administration plans to end Energy Star program for home appliances
(DBN)

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Tech:

‘How come I can’t breathe?': Musk’s data company draws a backlash in Memphis
(DBN)

Justice Department asks federal judge to ax Google's ad tech products
(DBN)

Nvidia CEO says being locked out of China AI market would be ‘tremendous loss’
(DBN)

Trump tariffs and export curbs on China cast a cloud over major chip stocks
(DBN)

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Satellites:

Elon Musk’s Most Alarming Power Grab
(DBN)

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Autos:

Tesla sales plummet across Europe even as Model Y ramps up Tesla Sales Fall in Germany and U.K. to Lowest Point in 2 Years Europeans Shun Tesla, Even as Electric Vehicle Sales Rise Tesla just got overtaken in the UK by 2 Chinese brands you've never heard of
(DBN)

Rivian cuts 2025 delivery target, ups expected spending amid tariff pressures
(DBN)

Pre-Tariff Car Buying Frenzy Leaves Americans With a Big Debt Problem
(DBN)

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Student Debt:

Trump ends default delay, meaning students must repay their loans
(DBN)

Trump administration to garnish wages of 5.3 million defaulted student loan borrowers this summer
(DBN)

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Tax:

House Republicans' battle over SALT income cap holding up deduction hike SALT Republicans Have to Accept ‘Unhappy’ Deal, GOP Chair Warns
(DBN)

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Food/Beverage:

House Republicans plan major SNAP food aid overhaul in Trump megabill
(DBN)

Americans are still ordering food through DoorDash even though things aren't so great right now
(DBN)

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Celebs:

Inside Katy Perry's Wild Legal Real Estate Woes—From Battles With Nuns to Bitter Fight Over a Montecito Estate
(DBN)

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Crypto:

FTX Creditors Sold Potential $500M Anysphere Stake For $200,000 Before Startup's Valuation Tripled
(DBN)

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Trucking:

Detroit carrier joins distributor in large-scale bankruptcy
(DBN)

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Theme Parks:

A bankruptcy battle is clouding the future of Miami’s Seaquarium. It’s not clear who’s in charge
(DBN)

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Consumer Protection:

Trump’s CFPB drops enforcement of buy now, pay later rule in latest rollback of consumer protections
(DBN)

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Economy:

Wobbling economy will push the Fed to cut interest rates later this year, CNBC survey finds The Fed meets with uncertainty permeating the air. Here’s what to expect Fed expected to hold interest rates steady, defying Trump
(DBN)

Prices are falling on some purchases. ‘Enjoy,’ economist says: ‘They’re not here to stay’
(DBN)

US debt on ‘unsustainable’ path, admits Scott Bessent
(DBN)

Trump trade tariffs slump widens to ‘nearly all U.S. exports,’ supply chain data shows The first boats carrying Chinese goods with 145% tariffs are arriving in LA. Shipments are cut in half. Expect shortages soon Trump downplays tariff talks: ‘We don’t have to sign deals’ Trump Downplays Trade Negotiations, Says He’ll Dictate Terms US-China Trade Talks to Start This Week as Tariffs Start to Bite Trump's tariffs are scrambling businesses' ability to predict what happens next Trump hosts Canada PM Carney as tariffs push alliance to lowest point in decades Canadian PM Carney Tries to Disarm Trump With Real Estate Talk Trump knocks Canada ahead of Carney meeting Trump, Carney faceoff in Oval Office leaves gaping differences on tariffs, 51st state Canada's PM pushes back on Trump's statehood idea, urges economic cooperation instead The trade war is making America more reliant on foreign goods, not less — at least for now These Chinese-made products could soon be hard to find in the U.S.
(DBN)

Global Shipping Is Grinding to a Standstill. It’s a Matter of Time Until Americans Feel It.
(DBN)

Trump changes his tune on the economy
(DBN)

The old global economic order is dead
(DBN)

World’s trade superhighway feels strain from U.S.-China decoupling
(DBN)

New York Fed finds easing supply chain pressures in April
(DBN)

Mattel warns of price hikes after Trump reiterates that kids can deal with fewer dolls
(DBN)

The trade deficit hit a record in March as companies rushed to import goods ahead of tariffs Trade Deficit increased to $140.5 Billion in March
(DBN)

Bessent: US debt limit is at ‘warning track’ with X-date forecast ‘forthcoming’
(DBN)

I was forced to return to the office, but the commute and childcare became a logistical nightmare. I had to quit.
(DBN)

Gen X, Millennials Report the Most Crushing Debt
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

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

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Municipalities:

States, Cities Face Funding Collapse Threat with Trump Cuts
(DBN)

Spirit Lake mayor refutes city bankruptcy rumors
(DBN)

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Oil/Gas:

U.S. oil production has likely peaked and will start to decline, Diamondback CEO warns
(DBN)

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Retailing:

All 13 Smithland Pet & Garden Centers in Western Mass., Conn. to close
(DBN)

Temu walks back price increases
(DBN)

Amazon doing ‘everything it can’ to hold down prices amid tariffs: CFO
(DBN)

Rite Aid’s 'comeback story' cut short as pharmacy chain files for bankruptcy again Rite Aid says a majority of its stores will remain open for the next few months Rite Aid refiles for bankruptcy 8 months after emerging from Chapter 11 filing Rite Aid to close all of its New York stores in second bankruptcy Rite Aid Bankruptcy Highlights U.S. Pharmacy Crisis Rite Aid announces ‘only viable path forward’ as it files for bankruptcy again Rite Aid's 2nd bankruptcy is a grim sign for the struggling retail pharmacy industry
(DBN)

Hispanic shoppers are spending less on groceries, putting pressure on consumer companies
(DBN)

Temu, Shein See US Sales Drop in Week After Tariff Price Hikes
(DBN)

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Entertainment:

Trump, Jon Voight meeting led to Hollywood tariff proposal, his manager says
(DBN)

Newsom suggests tax credit for Hollywood after Trump proposes tariffs on foreign films
(DBN)

Trump's Movie Tariffs: List Shows Which US States Could Gain the Most
(DBN)

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Politics:

Donald Trump's Approval Rating is Showing Cracks in His Base Donald Trump's Approval Rating Suffers 'Complete Inversion'
(DBN)

Trump’s Return to Power Elevates Ever Fringier Conspiracy Theories
(DBN)

Five media outlets on Trump’s hit list
(DBN)

58 crypto wallets have made millions on Trump’s meme coin. 764,000 have lost money, data shows
(DBN)

Elon Musk’s painful departure
(DBN)

Where Trump is likely getting his false $1.98 gas price figure
(DBN)

Trump White House Blindsided After Pete Hegseth Abruptly Canceled Ukraine Weapons Shipments: Report
(DBN)

Administration’s altered Signal chats pose new cyber risks, experts say
(DBN)

Democrats are going Hogg wild and tanking their own incumbents
(DBN)

Democrats walk out of crypto hearing after tense moments
(DBN)

Sanders to Democrats: Resistance to Trump ‘not good enough’
(DBN)

Fighters vs wimps: Swing-state Democrat sees a new divide in the party
(DBN)

Kemp’s Georgia decision forces GOP to consider a worst-case Senate scenario
(DBN)

N.I.H. Bars New Funding From U.S. Scientists to Partners Abroad
(DBN)

Trump Is Fighting Antisemitism the Wrong Way, a Jewish Group Argues
(DBN)

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Personal Finance:

Near-Death Experiences Radically Change How People View Their Careers
(DBN)

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Toys:

Barbie dolls become new victim of Trump’s tariff war
(DBN)

List of Toys Facing Price Increases Due to Tariffs
(DBN)

Mattel CEO says toy manufacturing won’t come to America, but price hikes will
(DBN)

Donald Trump's War on Christmas
(DBN)

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Festivals:

Fantasy ball or Fyre Fest? Attendees describe chaos at Baltimore book event
(DBN)

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Utilities:

PREPA bondholders, others argue over $3.7B-plus expense claim
(DBN)

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Biotech:

Gene-Editor Synthego Files Bankruptcy With Plans to Sell Itself to Lenders
(DBN)

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Religion:

MAGA Tries to Sway Pope Vote With $100 Bottles of Wine and Billion-Dollar Promises
(DBN)

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Ports:

America's Busiest Ports Issue 'Dire' Warning Over Trump Tariffs
(DBN)

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Rail:

Trump says US will not pay for California high-speed rail
(DBN)

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Sports Facilities:

SEC reaches partial settlement with defendant in Arizona sports complex fraud case
(DBN)

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Banking:

Treasury’s Bessent: Private credit surge underscores need for bank deregulation
(DBN)

Credit Suisse Services AG Pleads Guilty to $4 Billion Tax Evasion Scheme
(DBN)

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New Bankruptcy Opinions
(6 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (37 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (15 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Subchapter V:

A Not-For-Profit Is Eligible For Subchapter V (Guan v. Ellingsworth)
(DBN)

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Mass Torts:

New Jersey Catholic bishop says diocese will no longer oppose investigation into abuse allegations
(DBN)

Judge: New Orleans Archdiocese must show why bankruptcy remains unresolved 5 years in
(DBN)

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Contempt:

Do Bankruptcy Judges Belong in Chambers? Rethinking Inherent Civil Contempt Power in Bankruptcy
(DBN)

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Intercreditor:

How Bankruptcy Courts Interpret Intercreditor Agreements: The Uncertainty of Judicial Perspective
(DBN)

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Rights Offerings:

Do Rights Offerings Reduce Bargaining Complexity in Chapter 11?
(DBN)

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Personal Genomics:

Following 23andMe bankruptcy, ethical questions about genetic information remain
(DBN)

You now have until July 14 to file suit against 23andMe and/or delete data as company’s bankruptcy proceedings continue
(DBN)

23andMe to close San Francisco office, warns 250 employees of possible layoffs
(DBN)

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Aviation:

TSA: Airline Travel Unchanged YoY
(DBN)

Inside the multi-day meltdown at Newark airport US wants airlines to cut flights at Newark to reduce ongoing woes Newark air traffic controllers couldn’t see or talk to planes, leading to airport meltdown Some controllers are on trauma leave due to communication outage, FAA says Newark Airport chaos: Here’s what to know
(DBN)

Duffy Says Air Traffic Overhaul to Cost Tens of Billions of Dollars
(DBN)

Planes clip wings at San Francisco airport
(DBN)

FAA suspends work of independent panel reviewing air traffic control
(DBN)

Allegiant Joins Rivals in Pulling Outlook as Economy Chills
(DBN)

Trump Finds Solution to Aviation Woes—Fire a Democrat
(DBN)

Fox News Host Grills Trump Official on Air Safety: ‘How Do You Not Know?’
(DBN)

Noem: Travelers with no REAL ID can fly for now, but with likely extra steps
(DBN)

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Healthcare:

One year after Steward bankruptcy, Warren, Markey demand criminal probe
(DBN)

MercyOne nears court deadline to produce financial records of former Iowa City hospital
(DBN)

One year later: Timeline of Steward's bankruptcy, impact on Massachusetts hospitals
(DBN)

Manchester Memorial Hospital parent owes $140k in rent, landlord argues in bankruptcy court
(DBN)

Less than half of Americans trust FDA, CDC to do their job
(DBN)

Medicaid Funding Reduction Suggested by Mehmet Oz
(DBN)

U.S. Mortality Rate Compared to Europe as Dr. Oz Blames Health Care
(DBN)

Deadly illness spreading twice as fast in 2025, surpasses 9,000 cases
(DBN)

FDA picks critic of COVID boosters to be new top vaccines official
(DBN)

Out Of Her Lane: Veterinarian Suspended For Offering Medical Advice To Humans
(DBN)

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UK:

UK and India strike a trade deal amid U.S.-led tariff tensions What's in the UK-India trade deal?
(DBN)

UK Set To Restrict Visas For Nationalities Most Likely To Claim Asylum
(DBN)

UK and US in Intensive Talks on Economic Deal to Reduce Tariffs UK closes in on US trade pact with lower tariff quotas for cars and steel
(DBN)

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EU:

EU Eyes €100 Billion of US Goods With Tariffs If Talks Fail
(DBN)

Tether CEO Paolo Ardoino Warns ‘Many’ European Banks Will Blow Up in Next Few Years – Here’s Why
(DBN)

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Canada:

Asbestos Corporation Limited Seeks Creditor Protection for Restructuring
(DBN)

Judge Picks Law Firm to Represent HBC Employees
(DBN)

Security Commission Administrative Penalties vs Disgorgement Damages: Only the Latter Survive a Bankruptcy Discharge
(DBN)

Canada’s Carney Is on a High-Stakes Visit to the White House Mark Carney holds his own in Oval Office encounter with Donald Trump Carney says Canada 'not for sale' after Trump pushes 51st state in Oval Office meet Trump tells Carney ‘never say never’ on Canada as 51st state 5 takeaways from Trump’s meeting with Canada’s Mark Carney
(DBN)

Trump says US will ‘always’ protect Canada militarily
(DBN)

Trump Says US Should To Stop 'Subsidizing' Canada As Trade Talks Continue
(DBN)

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MENA:

Israel’s military says it has fully disabled Yemen’s main airport with airstrikes
(DBN)

Trump announces US will stop bombing Houthis Israel blindsided by Trump's Houthi announcement Yemen's Huthis Say Attacks On Israel Will Continue US, Yemen's Huthis Agree Ceasefire: Mediator Oman
(DBN)

Israel Plans to Seize Control of Gaza’s Aid. Here’s How That Could Look. Palestinians fear escalating suffering after Israel's plan to deepen its Gaza offensive Gaza Rescuers Say 22 Killed In Israeli Strike On School Sheltering Displaced People EU Top Diplomat Tells Israel Gaza Humanitarian Situation 'Untenable'
(DBN)

Israeli official says Gazans will leave after area "entirely destroyed"
(DBN)

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China:

Protests erupt in China after furious workers demand back pay as Trump’s tariffs on imports jolt economy
(DBN)

China at a ‘rapid boil’ for military action, admiral warns
(DBN)

China Cuts Key Rate, Reserve Ratio to Aid Economy Hit by Tariffs
(DBN)

China’s Factories Start to Imagine World Without American Buyers
(DBN)

____________

Germany:

German insolvencies rise amid runaway costs and inflation
(DBN)

Germany’s Merz elected chancellor in second parliamentary vote after unexpected setback
(DBN)

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Russia:

Biden Slams Trump Over ‘Modern Day Appeasement’ in Ukraine
(DBN)

North Korea sends thousands of workers to rescue Russia's crumbling economy
(DBN)

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Virgin Islands:

Ex-Mon Ethos Owner Sues Successor to Block Discharge of $11 Million Debt in Bankruptcy
(DBN)

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India:

Indian Supreme Court’s shock ruling against JSW Steel
(DBN)

Bhushan Power ruling puts bankruptcy code under cloud The Bhushan Power & Steel rewind no one asked for
(DBN)

India strikes on Pakistan and Pakistan-administered Kashmir kill 26; Pakistan says five Indian jets shot down India, Pakistan Trade Military Strikes After Kashmir Attack India strikes nine sites in Pakistan, Pakistan says it downed five Indian planes Fears of all-out war between nuclear-armed Pakistan & India after bloody night of airstrikes & 5 fighter jets shot down Pakistan claims it has shot down five Indian fighter jets, condemns 'act of war' and vows to retaliate against India for airstrikes amid fears of full-blown conflict between two nuclear-armed nations
(DBN)

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Mexico:

Mexican judges say judicial reform violated human rights
(DBN)

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