August 25, 2016

The Daily Bankruptcy News

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Law:

Will Millennials Make The 2,500 Hour Year The New Normal? Are Millennials Driving Up Billables?
(DBN)

Spurned recruiter sues BigLaw partner who used competitor; was recorded phone call a contract?
(DBN)

First ever publicly-traded law firm braces itself for largest financial loss in legal sector history Slater & Gordon to post A$1bn loss
(DBN)

Ashurst hires major restructuring team in Asia
(DBN)

Fox Rothschild Adds Bankruptcy Partner From Lindquist
(DBN)

Travel Survival Tips From Global Law Firm Leaders
(DBN)

Law Firm Sanctions Affirmed; Attys Must Take Ethics Classes
(DBN)

ABA Commission On The Future Of Legal Services Responds
(DBN)

Trump Law School
(DBN)

When Law School Gives You An Eating Disorder
(DBN)

Lawyerly Lairs: Professor Laurence Tribe’s $3.4 Million Mansion
(DBN)

Hip-Hop Artist Now First-Year Law Student
(DBN)

Scammers Choose Sidley in Latest Law Firm Phishing Scheme
(DBN)

FL: Write-in state attorney candidate Kenny Leigh, who runs men's-only law firm, files for bankruptcy
(DBN)

When A Potential Client Asks This One Question First, Be Careful
(DBN)

Did School Officials Cross the Line By Hiring Their Old Law Firm?
(DBN)

Do Big Law Firms Have Too Many Committees?
(DBN)

In-House Lawyers Make More, But Not Like Associates
(DBN)

How Technology is Changing Depositions
(DBN)

Judge declares mistrial in tobacco case, accuses BigLaw partner of ‘egregious’ comments
(DBN)

What Biglaw Associates Can Learn From Solo & Small Firm Lawyers
(DBN)

Lawyers recruited on Craigslist were unwitting ‘front men’ in phony law firms, Florida AG says
(DBN)

‘I Know Fraud Occurred,’ Says Lawyer Suing NFL
(DBN)

Phone Casts Shadow on Hernandez Murder Trial
(DBN)

Actor who played DA on ‘Law & Order’ dies at 94
(DBN)

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Judges:

Retired Bankruptcy Judge Tom Stinnett Dies At 72
(DBN)

Some Kentucky restrictions on judicial-campaign speech violate First Amendment, 6th Circuit says
(DBN)

The Supreme Court And The Power Of Change
(DBN)

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Wall Street:

Wall Street set for losses as Yellen speech draws closer
(DBN)

Stocks close lower, health care posts worst session since June 24
(DBN)

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Layoffs:

UPS to lay off more than 150 workers in Richmond
(DBN)

100 layoffs at Erickson Air Crane Inc.
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

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Corporate Reform:

What Would Dismantling Dodd-Frank Look Like?
(DBN)

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Coal:

White House Announces $38.8 Million in Grants to Coal Country
(DBN)

Morgan Stanley And General Electric: There Is Hope For Coal
(DBN)

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Celebs:

Hulk Hogan's lawyers argue Gawker founder should sell $4.2M condo
(DBN)

 

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Fraud:

Ponzi Schemers' Bank Must Answer to Investors
(DBN)

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Taxis:

Judge Blocks Taxi King’s Abandonment of Cabs in Lender Dispute Big Taxi Owner's Public Surrender Of Cabs Is Halted
(DBN)

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Mass Torts:

3rd Circ. Won't Rehear NY Housing Authority Asbestos Claims
(DBN)

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Toll Roads:

When Toll Road Traffic Flows Fall Short
(DBN)

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Student Debt:

Student loan debt continues to be a struggle for many, data show
(DBN)

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Religion:

Why some Americans left religion behind
(DBN)

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Distressed Investing:

SEC slaps Wilbur Ross' investment firm with $2.3 million fine over fees
(DBN)

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Accounting:

Ex-SEC Accountant Tells Jury PwC Violated Auditing Rules
(DBN)

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Economy:

Fed might hike interest rates despite market objections
(DBN)

There’s time for two Fed hikes this year — and everyone could benefit: Wittmann
(DBN)

Life Expectancy vs. Health Expenditure from 1970-2014, by Select Countries
(DBN)

Real World Shows Economics Has a Deflation Problem
(DBN)

What California and Texas Have in Common
(DBN)

The Federal Reserves Trickle Down Problem
(DBN)

US Debt Clock
(DBN

World Debt Clock
(DBN)

Economic Indicators Dashboard
(DBN)

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Real Estate:

Existing Home Sales decline in July to 5.39 million SAAR Home sales decrease for first time in months
(DBN)

MBA: "Mortgage Applications Decrease in Latest Weekly Survey"
(DBN)

Why young people aren’t buying houses
(DBN)

Still a Lot of Negativity on Housing
(DBN)

FL: Fully leased retail plaza owner files Chapter 11
(DBN)

McMansions prove to be poor investment
(DBN)

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Oil/Gas:

A ‘Turnaround Titan’ Meets His Match Amid Oil’s Downturn
(DBN)

Oil prices waver after disappointing U.S. inventory data Oil could fall sharply, just in time for new round of OPEC rumors
(DBN)

The Top 4 Oil Majors Are Burning Through $80 Billion Per Year Oil Firms Binge on Debt
(DBN)

Lease Sale for Offshore Drilling in Gulf of Mexico Receives Few Bids
(DBN)

Oil Patch Taps Funds for Credit as Canada’s Banks Pull Back
(DBN)

Chamber: Fossil Fuel Ban on Federal Lands Would Cost Billions, Hundreds of Thousands of Jobs
(DBN)

Shale Land Grab Tops Mergers as Buyers Await Better Oil Outlook
(DBN)

Duke University Is Making Claims Against Aubrey McClendon's Estate
(DBN)

Del. Judge Urges Talks In Ryckman Ch. 11 Contract Battle
(DBN)

MMA loss widens to $144m
(DBN)

Key Energy Services Expects to File for Bankruptcy
(DBN)

Seadrill says oil industry may be turning as Q2 beats forecast
(DBN)

Texas Promised to Track Oilfield Waste in Aquifers, but Didn't
(DBN)

In A Blood Bath, China's Oil Majors Are Punished, Profits Plunge Bleak forecast for Chinese oil giants PetroChina, Cnooc
(DBN)

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Media:

Hogan Says Gawker’s Denton Is Lowballing Condo in Bankruptcy Hogan Challenges Gawker Founder's Bid To Lease NY Condo
(DBN)

Would The English Rule Have Saved Gawker From Peter Thiel?
(DBN)

Too Poor To Pay Million-Dollar Judgment, Former Gawker Editor Offers Up Rice Cooker, Dishes
(DBN)

Nick Denton hoping Hollywood will come to his rescue
(DBN)

Gawker's Gone. Long Live Gawker. Gawker Was Murdered by Gaslight Legacy of Snark: Why Gawker Mattered
(DBN)

Why Univision's $135M Gawker Buy Is a Desperation Play for Millennials
(DBN)

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Politics:

Saudi prince says he twice saved Trump from bankruptcy GOP Chair to Trump: Release Tax Returns Donald Trump: The Blue Ocean Candidate Trump Says Border Wall Will Be 35 Feet High Trump goes all in on big immigration shift A major Trump economic policy is happening right before our eyes — and it's a disaster Trump says he'll let illegal immigrants stay — if they pay back-taxes Trump, accompanied by Brexit backer Farage, calls Hillary Clinton 'a bigot' Eric Trump: My dad's not flip-flopping on immigration Here is a complete list of Donald Trump's flip-flops on big issues Trump's Building His 2016 Campaign Team (Again)
(DBN)

A Short Checklist for Conspiracy Theorists
(DBN)

Clinton Is Making Her Trust Problem Worse Young Americans With Student Debt Flock to Clinton in Poll
(DBN)

How Louisiana's Flood Left Republicans at a Loss
(DBN)

UPI Poll: Presidential Race Extremely Close
(DBN)

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Retailing:

Bankrupt Apparel Retailers' Financial Commonalities
(DBN)

Sports Authority’s Renewed Bonus Plan Provokes Protest - Federal bankruptcy watchdog says company is ‘prioritizing insider executives’
(DBN)

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Pharma:

7 drug companies seek $6 million in Chapter 7 bankruptcy petition against defunct Frank W. Kerr Co.
(DBN)

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Food/Beverage:

Where the $3.5M from the Southern Season sale goes
(DBN)

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Prisons:

Private Prison's End Draws Investors to Court
(DBN)

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Mining:

Molycorp Seeks Ch. 11 Dump of $2M Rare Earth Mine Policy
(DBN)

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Education:

Insurer pays $13.5 million to resolve federal claims over defunct Marinello beauty school
(DBN)

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New Bankruptcy Opinions
(6 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Chapter 7, 12 & 13 Private Trustee Locator
(DBN)

Recent Ch. 11 Filings (10 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (2 new filings today)
(DBN)2

Bankruptcy Code (html) - Bankruptcy Code (pdf) Prior BK Codes (pick year from list) - Bankruptcy Rules
(large downloads)

UCLA-LoPucki Bankruptcy Research Database
(DBN)

Bankruptcy Jobs:

(1) (2) (3) (4) (5) (6) (7) (8)
(DBN)

Seminars - (Contact us to list your seminar)

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Safe Harbors:

Seventh Circuit Rules That Certain Transfers Involving Financial Institution Intermediaries Not Immune From Recovery by Bankruptcy Trustee
(DBN)

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Bankruptcy Remoteness:

Bankruptcy Filing Veto: Better Follow the Playbook
(DBN)

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Standing:

Sixth Circuit Splits with the Second over the Wagoner Rule on Standing
(DBN)

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Appeals:

Judge Easterbrook Opines on the Meaning of ‘Finality’ Stemming from Bullard
(DBN)

Motion for Stay Pending Appeal – Denied in District Court
(DBN)

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Obits:

Louis J. Yoppolo (1951-2016): Bankruptcy lawyer became federal trustee
(DBN)

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DIP Finance:

Do Economic Conditions Drive DIP Lending? Evidence from the Financial Crisis
(DBN)

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Tax:

Bankruptcy law didn’t permit bankruptcy court to determine tax penalty
(DBN)

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Healthcare:

“He went to the E.R. and was denied service,” one of the people, who currently works at the hospital, said. “And then he went to his car and shot himself.”
(DBN)

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TBTF:

Industry Groups Back MetLife in 'Too Big to Fail' Case
(DBN)

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Gambling:

Apollo, TPG Reject Caesars' Demand for $990 Million Rescue
(DBN)

Caesars Shouldn't Be Rewarded For Not Talking: Creditors
(DBN)

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Autos:

New GM Can Argue Old GM Ignorance Of Ignition Switch Defect
(DBN)

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Privacy:

Sports Authority customers can opt out of Dick's Sporting Goods getting their personal info
(DBN)

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UK:

Insolvency expert issues warning about “non-existent” debt register
(DBN)

Mid-market law firms: Merge, diversify or fail
(DBN)

Irwin Mitchell profits plummet 25% after Thomas Eggar merger
(DBN)

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EU:

European stocks slide after surprise drop in German business confidence
(DBN)

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PIIGS:

Isolux Debt-Swap Sellers to Pay $69 Million to Settle Contracts
(DBN)

EU warns Greece statistics row 'dangerous' for bailout EU wades in to Greek statistician row with bailout threats
(DBN)

Greek Government ‘Surprised’ by EC Intervention on Supreme Court’s ELSTAT Probe
(DBN)

Moody's says uncertainties remain for Abengoa despite restructuring plan
(DBN)

Why Portugal could be Europe’s next economic disaster
(DBN)

____________

Canada:

Urbancorp buyers want court to grant them a voice in builder's restructuring
(DBN)

Canadians’ debt continues to grow, now at $1.94 trillion: report
(DBN)

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Russia:

Bankrupt businessman seizes Moscow bank, then surrenders Drunk bankrupt man with 'explosive device' around his neck takes hostages at Moscow bank and threatens to blow it up
(DBN)

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Bahamas:

Baha Mar Should Open by the End of This Year Bran 'Concerned' Taxpayers To Fund Baha Mar Payouts Baha Mar Creditors : Over 90 Per Cent To Be Paid Creditors Pleased With Baha Mar Deal Baha Mar agreement but Bahamas PM gives few details PM's Baha Mar Agreement Lacks "Any Specifics"
(DBN)

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New Zealand:

RITANZ welcomes recommendations of the Insolvency Working Group
(DBN)

NZ insolvency practitioners face new licensing regime
(DBN)

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China:

China’s runaway bosses a symptom of the country's economic woes
(DBN)

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