May 10, 2024

The Daily Bankruptcy News

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Law:

Elite Biglaw Firm Adopts Tougher Background Checks For New Hires Amid Campus Protests Sullivan & Cromwell Details Ramped-Up Vetting of New Hires Amid Wave of University Protests How Sullivan & Cromwell is scrutinizing potential new hires after campus protests
(DBN)

Biglaw Behemoth CMS May Be Thinking About Finding A U.S. Merger Partner
(DBN)

Baker Donelson Adds Bankruptcy Shareholder Joseph P. Briggett
(DBN)

Viral video shows former Rikers Island inmate as she learns she passed bar exam on first try
(DBN)

Perkins Ordered to Disclose Records in Ohio State Sex Abuse Case
(DBN)

Bar exam alternatives, long out of favor with ABA, make inroads
(DBN)

Davis Polk welcomes leading Finance partner Luke McDougall in London
(DBN)

NFL Has Deep Candidate Pool for Highly Desired Law Chief Job
(DBN)

Can Second Hundred Firms Gain Ground on 'Price-Insensitive' Areas
(DBN)

Former McElroy Deutsch CFO pleads guilty to embezzling more than $1.5M from firm
(DBN)

Panama Papers Law Firm Boss Ramon Fonseca Dead
(DBN)

Cornered Magic Circle silent on Freshfields’ £150k NQs
(DBN)

Slater and Gordon partner who lied to client for 17 years struck off
(DBN)

Ex-Locke Lord partner sentenced to 15 years in prison
(DBN)

Where In The World Is The Former St. Louis Circuit Attorney?
(DBN)

Columbia Law grads lost commencement. And clerkships, as judges boycott alums.
(DBN)

Outraged customer, 57, charged with killing attorney inside McDonald’s over order
(DBN)

Paralegal threatened with prison after refusing to return firm’s laptop
(DBN)

Jailing Trump on contempt would likely mean locking him up for an hour or two behind the courtroom, experts predict
(DBN)

Trump prosecutors prepare to call final witnesses in hush money trial Stormy Daniels spars with Trump defense attorney in tense exchange over cash-for-silence transaction Stormy Daniels stands her ground in tense Trump trial testimony Lawyer Calls Daniels Transactional. ‘Not Unlike Mr. Trump,’ She Replies. Stormy Daniels trolls Trump after testifying in hush money trial Stormy Daniels turned the tables on the Trump team’s strategy Stormy Daniels as We Had Never Seen Her Stormy Daniels 'Exposed' Alvin Bragg in Donald Trump Case—Legal Analyst Trump Lawyer Tears Into Stormy Daniels’ Sudden Sainthood Judge chides Trump’s lawyers for not objecting more during Stormy Daniels’ testimony Trump attorney blights Stormy Daniels’s credibility in tempestuous cross-exam Stormy Daniels under fire: 5 takeaways from Day 14 of the Trump trial Stormy Daniels Tangles With Trump’s Lawyer Over Claim Of Sexual Encounter: “If That Story Was Untrue, I Would Have Written It To Be A Lot Better” Trump ruled against twice as witnesses detail his office habits on day 14 of hush money trial What Kind of Husband Behaves Like Donald Trump? Defense lawyers demand a mistrial over 'prejudicial' Stormy Daniels 'spanking' allegations ‘Grueling’: The Trial May Be Getting to Trump Trump Summons Entourage for Moral Support During Mortifying Testimony Trump loyalists follow him from Mar-a-Lago to Manhattan during hush money trial Judge Merchan Blocks Photos of Donald Trump Madeleine Westerhout, Trump White House Gatekeeper, Takes Stand in Trial Third week of testimony in Trump’s hush money trial draws to a close, with Michael Cohen yet to come Trump denied second mistrial request, gag order change in hush money case Donald Trump Handed Two Losses by Judge Merchan Tiny cell, toilet and a bench: what Trump might face if jailed for violating gag order
(DBN)

Hillary Clinton: Supreme Court doing ‘grave disservice’ in not deciding Trump immunity Clinton thought she would ‘throw up’ listening to Supreme Court emergency abortion arguments
(DBN)

Delaying Justice is Trump's Top Tactic
(DBN)

Hunter Biden's bid to toss gun charges rejected by U.S. appeals court Hunter Biden's federal gun charges to go to trial after appeal dismissed Back-to-back rulings against Hunter Biden pave way for June gun trial
(DBN)

Financier Found Guilty in Trump Media Insider Trading Trial
(DBN)

Mounting delays cast doubt on future Trump trials
(DBN)

'Never forget!' E. Jean Carroll takes 'victory lap' on anniversary of legal win over Trump
(DBN)

Democrats cry foul over Judge Cannon’s handling of Trump documents case
(DBN)

Conservative Plan Calls for Dozens of Prisoner Executions if Trump Wins
(DBN)

Biden administration to propose new rule for asylum seekers DHS: New asylum rule ‘intended to be a national security and public safety measure’ House Democrats’ Surprise Campaign Play: Embracing Border Security - WSJ Migrants play 'the asylum lottery' on controversial U.S. government app Civil rights groups sue over Iowa law that would allow police to arrest and deport some migrants Fentanyl scanners that sat idle for lack of federal funds can now be installed at the border Two top Border Patrol officials who partied with Mexican tequila mogul are now under investigation FactCheck: “Joe Biden flew hundreds of thousands of illegals into Florida last year.”
(DBN)

California abortion rate rises to highest level in decade
(DBN)

Miss USA’s resignation letter accuses the organization of toxic work culture
(DBN)

New Witness Bill Could Doom Harvey Weinstein at Retrial
(DBN)

Gun thefts from cars have skyrocketed in U.S., new report finds
(DBN)

Anti-Israel protester, 16, arrested for vandalizing Central Park WWI memorial after father turns him in
(DBN)

Ohio man pleads guilty to dumping contaminated wastewater into river, killing more than 40,000 fish
(DBN)

Cartel Says They Handed U.S. Surfer Killers Over to the Cops
(DBN)

Houston mayor says police chief is out amid probe into thousands of dropped cases
(DBN)

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Judges:

Bankruptcy Judge Romance Litigant Urges Court to Let Suit Stand
(DBN)

Harris Warns of Supreme Court’s Future Rulings: ‘I Worry About Fundamental Freedoms’
(DBN)

Sotomayor Says AI Will Significantly Impact ‘How We Lawyer’
(DBN)

Hotshot Attorney Says He Tried to Advise Trump’s Civil Fraud Judge: Report Judge Engoron under investigation over 'very troubling' talk with lawyer about Trump case
(DBN)

Judges Boycotting Law Schools? Actually, That’s Just Clerkship Hiring.
(DBN)

First Trump Supreme Court Nomination Wish List Is Out And It's Properly Horrifying
(DBN)

Solicitors general, past and present, reflect on ups and downs of job and arguing before SCOTUS
(DBN)

Senate Judiciary Argues About Blue Slips for Circuit Nominees
(DBN)

A Lottery System Could Help Solve Universal Injunction Issue
(DBN)

The Supreme Court is nearing the end of its term. Here are the cases it still has to decide.
(DBN)

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Wall Street:

Stock futures rises as Dow pushes for an 8-day winning streak
(DBN)

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Layoffs:

Elon Musk Changes Tune on Tesla Superchargers After Mass Firing
(DBN)

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Healthcare:

1 year after Envision filed for bankruptcy: What's happened since
(DBN)

Bankrupt Steward Health Care Drags Medical Properties Trust To Massive Loss Payroll ruling launches Steward bankruptcy case Paychecks delayed for Steward Health Care employees after bankruptcy filing ‘Come to work:’ State reassures Steward hospital employees ‘glitch’ was fixed after paycheck delay
(DBN)

Nearly half of cancer patients have medical debt, despite most being insured
(DBN)

Hospitals Are Refusing to Do Surgeries Unless You Pay In Full First
(DBN)

Ascension Health, largest Catholic hospital chain in the U.S., hit by cyberattack, disrupting patient care Cyberattack forces major US health care network to divert ambulances from hospitals
(DBN)

Even as bird flu looms, the world is unlearning Covid’s lessons FDA says it's preparing for a bird flu pandemic, killing one in four
(DBN)

New COVID ‘FLiRT’ variants show virus isn’t going away
(DBN)

Gay couple files first-of-its-kind class action against NYC for IVF benefits
(DBN)

Inside the rural town where the suicide rate has mysteriously exploded to become 'the fourth highest in the world'
(DBN)

Medical freedom vs. public health: Should fluoride be in our drinking water?
(DBN)

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Consumer Finance:

The credit-card industry's Hail Mary push to keep charging you bigger late fees
(DBN)

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Crypto:

FTX Creditors Reject Amended Compensation Plan Citing Controversial Exculpatory Clause and Undervalued Bitcoin Payments
(DBN)

Wall Street found a win in the messy FTX bankruptcy
(DBN)

Mark Cuban, Mavericks won’t back down from crypto suit after celebs settle for $2.4 million
(DBN)

BlockFi partners with Coinbase for fund distribution, shuts down web platform
(DBN)

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Fintech:

Infighting among fintech players has caused TabaPay to ‘pull out’ from buying bankrupt Synapse
(DBN)

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Sports:

Everton takeover update emerges as creditors ready to waive off millions
(DBN)

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Television:

EchoStar “bankruptcy the most likely outcome” Dish still working on rescue plan amidst bankruptcy talk Analyst sets timeframe for possible Dish bankruptcy
(DBN)

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Economy:

Consumers trading down to cheaper goods as inflation persists
(DBN)

Weekly Initial Unemployment Claims Increase to 231,000
(DBN)

Nobel Laureate Joseph Stiglitz Warns 'Reelection Of Trump Would Be A Disaster' Nobel Prize-winning economist Joseph Stiglitz shares the playbook he thinks Trump will use to stay in power if he wins a second term Joseph Stiglitz: ‘Freedom for the wolves means death for the lambs’
(DBN)

Corporate America got woke. Now it's having second thoughts.
(DBN)

Just 4% of current retirees say they are ‘living the dream’
(DBN)

Why women in the U.S. are less satisfied with their jobs than men
(DBN)

What a Zoom cashier 8,000 miles away can tell us about the future of work
(DBN)

Biden watchdogs probe popular credit card and airline rewards
(DBN)

CEO Dara Khosrowshahi says remote work took away some of Uber's best customers, but commuters are starting to come back
(DBN)

Uber, Doordash, and other gig workers in Seattle may be about to face a pay reckoning
(DBN)

Trump Tax Cut Extension Would Cost $4.6 Trillion Extending Trump-era tax-code overhaul could stick these 6 groups with a big bill
(DBN)

The C.E.O.s Who Just Won’t Quit
(DBN)

Biden Poised to Impose Tariffs on China EVs, Strategic Sectors
(DBN)

Top 15 Quotes from Berkshire Hathaway Annual Meeting
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

Primer on Commercial Real Estate Loan Workouts and Right-Sizing, Part II
(DBN)

The Corporate Transparency Act: Considerations for Special Purpose Entities in Commercial Real Estate Transactions
(DBN)

Billionaire Barry Sternlicht predicts weekly bank closures as the real estate sector battles high interest rates and inflation
(DBN)

'Seriously underwater' mortgages are on the rise throughout the US, with Southern states seeing the biggest jump
(DBN)

Housing Starts: Record Average Length of Time from Start to Completion in 2023
(DBN)

Realtor.com Reports Active Inventory Up 35.1% YoY; New Listings Up 3.6% YoY
(DBN)

$929 billion in commercial real estate debt is about to come due
(DBN)

"Mortgage Rates Technically at Lowest Levels in a Month"
(DBN)

A Way to Beat High Mortgage Rates? Take Over Someone Else’s Loan.
(DBN)

Miami commercial condo owner files bankruptcy to halt foreclosure
(DBN)

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Municipalities:

Impairments hit 15-year high, MMA says
(DBN)

3 US cities drawing more millionaires with lower taxes, cheaper homes, and shorter commutes
(DBN)

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Oil/Gas:

Third Circuit Finds Future Royalty Obligations From Sale Transaction Dischargeable in Bankruptcy
(DBN)

At a Dinner, Trump Assailed Climate Rules and Asked $1 Billion From Big Oil 'Everything has a price': Insiders say Trump secret offer left oil barons 'stunned'
(DBN)

EU: Fossil Fuels Are on the Way Out
(DBN)

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Agribusiness:

Wheat prices have surged to 8-month highs amid global conflict and extreme weather
(DBN)

How Poor Tracking of Bird Flu Leaves Dairy Workers at Risk
(DBN)

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Tourism:

What Happens When a Happening Place Becomes Too Hot
(DBN)

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Food/Beverage:

Wild Wing Cafe restaurant chain faces possible liquidation in bankruptcy court
(DBN)

Americans are choking on surging fast-food prices. "I can't justify the expense"
(DBN)

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Education:

Does college pay off? For many, it only takes a few years, study says
(DBN)

San Francisco’s school system flirts with insolvency. It’s not the only one in California
(DBN)

'Are you a Zionist?' Checkpoints at UCLA encampment provoked fear, debate among Jews In Letter, 540 Jewish Columbia Students Defend Zionism, Condemn Protests Peter Thiel was trapped inside a student debating hall by pro-Palestine protesters accusing him of genocide Elite Colleges Walked Into the Israel Divestment Trap Divesting From Israel Is Impractical and Illogical Arizona State University dismisses scholar after video shows him verbally attacking a woman in a hijab University of Arizona Police Deploy 'Chemical Munitions' Amid Protests Louisiana HBCU becomes second school to cancel UN Ambassador’s address amid Gaza protests Harvard Protesters Vow to Continue Encampment After Talks Fail
(DBN)

See the campus protests over the last 6 decades that dwarf the Gaza protests in size and disorder
(DBN)

How Public School Leaders Upstaged Republicans and the Ivy League
(DBN)

A Texas teacher spoke out against bothsidesing the Holocaust. It derailed her career.
(DBN)

Virginia school board votes to restore schools' Confederate names
(DBN)

America Has Too Many Schools
(DBN)

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Retailing:

Sam Ash files for bankruptcy; may sell e-commerce ops, IP, wholesale business Sam Ash Music to close all locations after filing for bankruptcy Sam Ash seeks bankruptcy protection to close all 42 US stores
(DBN)

A Smaller, Revived Century 21 Talks One Year Back in Business
(DBN)

Target cuts Pride Month products from some stores after backlash
(DBN)

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Banking:

8 findings from the FDIC sexual harassment audit
(DBN)

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Tech:

White Plains bankruptcy interrupts talk with the dead
(DBN)

I was a tech DINK earning over $100k a year. Our double income helped me quit my 9-to-5 — but now the glory days are over.
(DBN)

Tech workers tired of Silicon Valley are moving to New York City in droves for the social scene
(DBN)

Tech Crushing Human Creativity?
(DBN)

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Gambling:

Bookies at the baccarat table: A new scandal grips Las Vegas
(DBN)

Shareholders push casinos to reassess indoor smoking
(DBN)

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Insurance:

China Construction Bank Sued in US Over Reinsurance Fraud Losses Porch sues China Construction Bank over Vesttoo reinsurance collateral fraud
(DBN)

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Cannabis:

The Financial And Business Implications Of Marijuana Reclassification
(DBN)

Marijuana move could help Biden in key voter group
(DBN)

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Trucking:

Why MFN Partners bought millions in Yellow stock as it teetered toward bankruptcy
(DBN)

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Labor:

Ford managers threaten to walk out on strike as ballot opens over potential industrial action
(DBN)

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Autos:

Joe Biden is expected to unveil new tariffs on Chinese EVs. Here's what that could mean for the sector
(DBN)

Elon Musk Says Tesla Will Erect "Thousands" of New Supercharger Pedestals in 2024
(DBN)

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Water:

Mexico City Could be Out of Water This Summer
(DBN)

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Climate:

Republican-led states ask court to overturn EPA power plant rule
(DBN)

In first, Vermont ready to make fossil fuel giants pay for climate damage
(DBN)

Occidental Petroleum’s net-zero strategy is a ‘license to pollute,’ critics say
(DBN)

The US is in the middle of an exceptional tornado streak. Here’s what it looks like
(DBN)

El Niño’s end is imminent: What it means for summer weather
(DBN)

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New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (30 new filings today)
(DBN)

Recent Ch. 11/9/12/15 Adversary Proceeding Filings (2 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

Why financial bankruptcies are a unique animal
(DBN)

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Mass Torts:

Washington AG investigating clergy abuse says Seattle Archdiocese won’t cooperate
(DBN)

‘It wasn’t a big deal’: secret deposition reveals how a child molester priest was shielded by his church ‘We were encouraged to be with younger boys’: breaking down a child molester priest’s secret testimony
(DBN)

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Subchapter V:

Sub V Task Force Report In A Nutshell: Part 2—Future Rents & Eligibility Calculation
(DBN)

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Intercreditor:

Creditor-on-Creditor Violence and Secured Debt Dynamics
(DBN)

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Professional Compensation:

Bankruptcy Court Finds Lender’s Fee Application, Seeking Double the Debtor’s Fees, Reasonable
(DBN)

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Civil Forfeiture:

Supreme Court rules innocent owners of seized cars are not entitled to immediate hearing Gorsuch, Thomas Want a Case the Supreme Court Hasn’t Been Given Yet
(DBN)

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Avoidance Actions:

Bankruptcy Court Determines that Dividend Payments Permitted Under Subordinated Loan Agreement Are Not Fraudulent Conveyances
(DBN)

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Safe Harbors:

The Seventh Circuit Upholds District Court’s Decision that Safe Harbor Provision of Section 546(e) Applies to Privately Held Securities.
(DBN)

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Lender Liability:

Northern District of Texas Denies Summary Judgment to Lender on Fiduciary Duty Claim Based on Evidence of Excessive Control
(DBN)

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Aviation:

Air Vanuatu files for bankruptcy protection after canceling all international flights Administrators assessing financial position as Air Vanuatu enters liquidation process Weddings hang in the balance after hundreds of passengers stranded due to Air Vanuatu collapse
(DBN)

Senate reauthorizes FAA programs Senate passes sweeping FAA bill focused on safety and consumer protections
(DBN)

NASA Contractor Warns That Boeing Launch Must Be Stopped "Before Something Catastrophic Happens"
(DBN)

I’m a flight attendant. You need to get over your reclining seat rage
(DBN)

Bonza administrators tell first creditors' meeting they are hopeful airline can be saved Bonza’s administrator Hall Chadwick told creditors there are more than '20 interested parties' in the carrier Bonza's first creditors' meeting paints dire financial picture
(DBN)

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Politics:

4 reasons this year’s presidential election could blow up America as we know it
(DBN)

Biden gets glowing review on climate amid struggles with young voters
(DBN)

DNC Preparing for Worst in Chicago -- Without Help of Mayor(DBN)

Rick Scott: Biden now part of ‘pro-Hamas group’ of Democratic Party Johnson: Biden may have had ‘senior moment’ with Israel military aid remarks
(DBN)

Top senators believe the US secretly recovered UFOs
(DBN)

Trump's trial trap: Voters to be his most important jury
(DBN)

Evangelicals See Trump’s Hedonism as Godly ‘Masculinity’
(DBN)

Nikki Haley Is Huddling With Donors and Won’t Endorse Donald Trump Yet
(DBN)

Johnson on Greene ouster attempt: ‘I don’t hold grudges’ How Rupert Murdoch quietly helped Mike Johnson survive Marjorie Taylor Greene’s ouster attempt Greene's rebellion sparks new talk of consequences for House GOP rebels As co-rulers of the House, the Democratic majority-in-waiting may have already arrived 'Failing act of political theater': Greene ostracized after Johnson ouster push 163 House Democrats voted to protect Mike Johnson from MTG’s ouster effort Marjorie Taylor Greene delays financial disclosure day after motion-to-vacate debacle Marjorie Taylor Greene Has Lost Republicans
(DBN)

Trump: Biden ‘100% responsible’ for colleges canceling graduations Trump knocks Biden over condition on weapons supply to Israel Trump: Jews should be ‘ashamed’ if they vote for Biden How Republicans Echo Antisemitic Tropes Despite Declaring Support for Israel Liz Cheney Sounds Alarm About Joe Biden's Latest Decision
(DBN)

Robert F. Kennedy Jr. appears to surprise his running mate with his position on abortion RFK Jr. Gave Conflicting Stories About His Brain Worm
(DBN)

Political consultants plead guilty in Henry Cuellar bribery case
(DBN)

Protesters descend on Eurovision, object to Israel’s participation Reporter beaten by protesters
(DBN)

Strange bedfellows far-right, far-left unite against Jews
(DBN)

The Happiness Gap Between Left and Right Isn’t Closing
(DBN)

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Sovereigns:

Ukraine races against the clock to secure debt restructuring Bondholders: Ukrainians May Be Heroes, But Do They Also Want To Be Deadbeats?
(DBN)

Pakistan plans to negotiate debt rescheduling with creditors ahead of IMF review
(DBN)

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UK:

UK Jurisdiction Taskforce publishes its third Legal Statement on Digital Assets and English Insolvency Law
(DBN)

UK online car retailer Cazoo discloses intent to enter administration
(DBN)

Scottish councils at growing risk of bankruptcy
(DBN)

Bank of England Signals Rate Cuts as Inflation Eases Markets reprice Bank of England rate-cut bets as UK records fastest growth in nearly 3 years UK economy emerges from recession with 0.6% growth in first quarter
(DBN)

Scammer who claimed to be an Irish heiress should be extradited to UK, judge rules
(DBN)

Selfridges Set for Job Cuts, Citing Freeze on Tax-free Shopping
(DBN)

American-Style Tipping Is Testing British Pub Culture
(DBN)

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China:

The West is freaking out that China is making too much stuff, and it looks like China might be starting to agree
(DBN)

European companies are less upbeat about China’s vast market as its economy slows
(DBN)

Foreign Investment Into China Slumps 56% in First Quarter
(DBN)

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MENA:

Biden is threatening to withhold some weapons from Israel. Is it a real shift in policy? Biden’s warning sharpens a problem for Prime Minister Benjamin Netanyahu. Republicans want to force Biden to send arms to Israel Republican planning impeachment articles against Biden over Israel weapons hold Strong reactions in U.S. after President Biden says he won’t supply weapons to Israel for a Rafah offensive Israel is furious with Biden's decision to draw a red line over the planned invasion of Rafah Defiant Netanyahu says Israel can stand alone as U.S. warns against 'smashing into Rafah' Why Biden went public with Rafah ultimatum Joe Biden's Rafah Red Line Upends US-Israel Relationship Netanyahu: 'We will fight tooth and nail,' even if alone Israeli Politicians Rage at Biden’s Threat to Stop Sending Weapons Netanyahu Says He Hopes To Overcome Disagreement With Biden But Insists Rafah Assault Must Happen Netanyahu Asks Biden to Restart Arms Shipments UK won’t follow US in halting arms to Israel if it invades Rafah Biden Said Rafah Was a ‘Red Line.’ Now What? Tens of Thousands Have Fled Rafah Since Monday, U.N. Says Israeli military operations in Rafah expand from airstrikes to ground operations, satellite images show
(DBN)

Blinken report expected to criticize Israel, but say it isn't breaking weapons terms
(DBN)

Israeli settlers attacked this West Bank village in a spasm of violence after a boy’s death
(DBN)

The horrors of a shadowy Israeli detention facility for Palestinian prisoners
(DBN)

UN aid agency says Israelis set fire to its East Jerusalem headquarters
(DBN)

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Russia:

Ukraine Strikes More Russian Oil Facilities in a Bid to Disrupt Military Logistics
(DBN)

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Germany:

U.S. surpasses China as Germany’s biggest trading partner
(DBN)

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India:

Does failure to file claim during insolvency process disentitle homebuyer to flat? Supreme Court to examine
(DBN)

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Australia:

The latest on insolvent Australia EV charge firm Tritium
(DBN)

Fast cars, forgery and a bogus Banksy deal: Australians caught in collapse lose millions
(DBN)

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Singapore:

Private credit lender Ares wins Singaporean court ruling on Indonesia debtor
(DBN)

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Sudan:

Children ‘piled up and shot’: new details emerge of ethnic cleansing in Darfur
(DBN)

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Hong Kong:

HK Court Sides With Creditors in Closely Watched Keepwell Case
(DBN)

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