February 17, 2016

The Daily Bankruptcy News

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Law:

Are Billing Rates Too High and Collection Rates Too Low?
(DBN)

As law firm billing rates increase, realization rates drop—but not in bankruptcy court
(DBN)

Dewey Know Who’s Not Going To Trial? Defendant No. 4, Zachary Warren Former Dewey law firm employee strikes deal to avoid trial Ex-Dewey Client-Relations Manager Strikes Deal to Avoid Trial Recent law grad charged with Dewey leaders will be dropped from case
(DBN)

Coming and Going Concerns
(DBN)

Push and pull: how to lose law firm talent
(DBN)

Bankruptcy Lawyer: 3 Lies Lawyers Should Stop Telling Themselves
(DBN)

Dickstein Shapiro partners are informed their capital is gone; some could lose more than $1M
(DBN)

Orrick Adds Seven Partners in New Houston Office
(DBN)

Porzio Bankruptcy Lawyer Issues Mea Culpa in Settled Defamation Fight
(DBN)

There’s No Prize For Being The Smartest Person In The Room
(DBN)

Pennsylvania AG Kathleen Kane Won’t Seek Reelection
(DBN)

Northwestern to offer more financial aid to students and alumni
(DBN)

Professors, Too, Need To Practice Compassion
(DBN)

What President Obama’s 2017 Budget Tells Us About Law Schools
(DBN)

ABA committee recommends tougher, simpler bar passage accreditation standard The ABA’s New Bar Pass Rate Standards
(DBN)

Foul Of Mouth, Foul Of Mind?
(DBN)

How Technology Can Make You a Better Lawyer
(DBN)

5 little-known tricks to get the most out of your iPhone
(DBN)

How to keep your lunch from derailing your productivity
(DBN)

Lawyer says 2nd Amendment protects gun owners’ right to accidentally shoot their neighbors
(DBN)

Law firm paid $2,500 to get its data back
(DBN)

Woman Spent Two Years in Solitary at Rikers Before Court Found Her Not Guilty
(DBN)

Judge: Apple must help US hack San Bernardino killer's phone
(DBN)

Cliven Bundy Denied Bail
(DBN)

New York police officers haven’t stopped with unconstitutional searches despite a court order three years ago
(DBN)

______________

Judges:

Justice Scalia, Remembered Scalia's Funeral, Like Those of Past Justices, Will Draw Thousands Remembering Where Justice Scalia Got His Start Why nutty conspiracy theories on Antonin Scalia's death are already surfacing An Inquest Into the Texas Way of Death New details are emerging about Scalia's health before he died Stephen Colbert remembers the time Antonin Scalia loved being insulted by the comedian Who will Obama nominate to replace Scalia? Here are some possibilities How Scalia’s death could affect pending high-profile cases Could Obama make a recess appointment to the Supreme Court? ‘If We Really Love the Truth’—Excerpts From Scalia’s 1957 Graduation Speech New Questions on Scalia's Health How Scalia Kept the Little Guys Out of Court Justice Scalia’s Business Law Legacy Scalia's Death Probably Flips Big Cases ‘You get one shot': How Justice Antonin Scalia viewed the world The Remarkable Life of Antonin Scalia Top 10 Scalia Zingers
(DBN)

Justice Antonin Scalia’s Bankruptcy Opinions
(DBN)

How will the Supreme Court deal with a vacancy this term – and beyond?
(DBN)

Deval Patrick, Elizabeth Warren floated as possible Supreme Court picks
(DBN)

Obama has started work to pick Supreme Court justice: White House
(DBN)

How to Bring the Supreme Court Back Down to Earth
(DBN)

Judge Calls DOJ ‘Sons Of B------’ On The Record
(DBN)

Federal judge to decide whether to sanction attorneys for using court as "bargaining chip" in negotiating settlement
(DBN)

______________

Wall Street:

Wall Street set to build on gains as oil, Fed stay in focus Wall Street set for rally as investors hope for dovish Fed minutes
(DBN)

US stocks close at session highs despite drop in oil prices
(DBN)

This is the worst quarter for company earnings since 2009
(DBN)

______________

Layoffs:

Transocean and Pioneer cut hundreds of jobs
(DBN)

Bombardier to cut about 7,000 jobs
(DBN)

Devon Energy to cut 20% of workers (1,000 jobs), slash dividend
(DBN)

Truck Makers Slashing Jobs on Falling Orders
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

______________

Politics:

Clinton rips GOP stance on Supreme Court nomination Clinton Hypocrisy: She Filibustered Alito 'The Constitution is clear': Obama fires back after Republicans move to block his Supreme Court nominee Obama may have to use every trick in the book to pressure Republicans into filling the Supreme Court vacancy US senator's tweets go viral after supporting Obama's right to choose Supreme Court judge Ronald Reagan Thinks The SCOTUS Vacancy Should Be Filled Now What Republicans wish they could say about blocking Obama’s Scalia replacement Not All Republicans Want to Delay SCOTUS Pick Republicans Show Signs of Division on Supreme Court Tactics Hillary Clinton fired off a furious tweetstorm at Senate Republicans over the Supreme Court vacancy Supreme Court short-list? Speculation about Kamala Harris shadows Senate bid More Republicans Say They'll Block Supreme Court Nominee Battle over Scalia’s replacement already spilling into Senate races How the politics of the next nomination will play out The Republic Will Survive the Scalia Vacancy How Obama Could Win Supreme Court Battle — Even If Republicans Take the White House Cruz skewers Trump’s sister in Supreme Court debate SCOTUS Battle and Vulnerable Senators Grassley's judicial nominee view differs from '08 Obama Says He Will Pick a ‘Qualified’ Supreme Court Nominee
(DBN)

4 questions Trump and Sanders need to answer
(DBN)

Kasich and Clintons Helped Double Poverty
(DBN)

Donald Trump’s 2016 Debate Lies: He Did Go Bankrupt 'Wonderful!': Donald Trump celebrates after new poll shows him crushing rivals in South Carolina A man was thrown out of a Trump rally in Iowa for protesting hate Trump: Ted Cruz has 'a mental problem' Donald Trump accuses Marco Rubio of ‘excess sweating’ that would affect his ability to deal with Putin Trump: I'm 'very seriously' looking at suing Ted Cruz because of his lies and ties to Canada Here's why Donald Trump keeps talking about suing Ted Cruz If Donald Trump wants to sue Ted Cruz for being born in Canada, he better do it soon Trump Misattributes Quote While Accusing Cruz of Dishonesty President Obama: ‘Mr. Trump Will Not Be President’ Trump: Obama attacking me is an honor
(DBN)

How candidates plan to fix Social Security
(DBN)

Ted Cruz has the biggest, most radical, most rich-person-friendly tax plan yet Cruz's Tax Reform Would Explode Deficit Rubio Camp Accuses Cruz Backers of Dirty Facebook Tricks Cruz's Tax Plans Seen Aiding Wealthy, Costing $8.6 Trillion Rubio Attacks Cruz’s Honesty in South Carolina
(DBN)

The Clintons: Politics Is The Money Making Family Business Hillary Clinton unveils sweeping economic agenda, including major housing reforms
(DBN)

Big Brother Makes Jeb Bush Look Small
(DBN)

____________

Steel:

TimkenSteel Said to Hire PwC to Explore New Financing Options
(DBN)

____________

Celebs:

Janice Dickinson was targeted by bankruptcy trustee to pay up $1m over Cosby claim
(DBN)

50 Cent says bankruptcy plan would be like indentured servitude
(DBN)

____________

Banking:

Bankruptcy Protection Sought for Maple Bank's U.S. Assets
(DBN)

Banks are still the weak links
(DBN)

____________

Religion:

Gallup Diocese consultant quits
(DBN)

____________

Museums:

Sci-Quest landlord asks court for rent
(DBN)

____________

Newspapers:

Santa Ana Showdown: Tribune's Bid For Southern California
(DBN)

____________

Alternative Energy:

SunEdison Inc Running Out of Survival Options
(DBN)

Utilities Declare Open Warfare on Solar
(DBN)

____________

Distressed Investing:

Nervous Market? Now's Time to Buy Junk, AllianceBernstein Says
(DBN)

How Much Lower can Junk Bonds Go?
(DBN)

Preqin: Dry Powder at Distressed Debt Funds Hit Record in 2015
(DBN)

Antonin Scalia: Three Decisions on Distressed Assets
(DBN)

____________

Celebs:

Kanye West takes to Twitter for another rant about his supposed money woes A Lesson in Money, Brought to You by Kim and Kanye's Finances Why Kanye West probably isn't $53 million in 'personal debt,' and what he has to say about it Debt-laden Kanye keeps his cash separate from moneybags Kim
(DBN)

____________


Economy:

Deutsche Bank: All markets point to THIS problem
(DBN)

Fed can be ‘unhurried’ to raise interest rates: Rosengren
(DBN)

Danger signs flashing for global economy
(DBN)

Bernanke: Here’s why the Federal Reserve is paying banks to do nothing with their cash
(DBN)

This GIF shows who controls the wealth in the US
(DBN)

Dan Loeb: This is a Wall Street recession
(DBN)

Danger signs flashing for global economy, years after crisis
(DBN)

Mohamed A. El-Erian on the Global Economy
(DBN)

Goldman Sachs has a chart that shows the odds of your country being in a recession at any given time
(DBN)

This stunning animation resizes US counties based on their contribution to GDP
(DBN)

The Next Big Idea in Economic Growth
(DBN)

Negative Interest is Danger to World Economy
(DBN)

The real reason many millennials aren’t saving for retirement
(DBN)

The collapse in global trade is breathtaking
(DBN)

US Debt Clock
(DBN

Economic Indicators Dashboard
(DBN)

______________

Real Estate:

S&P/Experian: Mortgage default rates steady in January
(DBN)

Appraisal volume rises 3 weeks straight
(DBN)

Homebuilder confidence wanes despite positive economic trends
(DBN)

Nevada foreclosure crisis hurting Clinton, Sanders' efforts to get votes
(DBN)

The 20 most expensive US zip codes for renters
(DBN)

Wall Street Girds for Commercial-Property Debt It Must Invest In
(DBN)

____________

Municipalities:

'A Crisis Every Day' for the Mayor Trying to Rescue Atlantic City
(DBN)

No mention of Atlantic City during Christie's budget address
(DBN)

Puerto Rico House Passes Utility's Debt Restructuring Bill Puerto Rico Lawmakers Approve Utility Restructuring Bill
(DBN)

Puerto Rico government cites substantial doubt about solvency
(DBN)

Puerto Ricans Suffer as Creditors Feast on Debt Colony
(DBN)

Rhodes says he won’t be EM for Detroit schools
(DBN)

Lead poisoning crisis sends Flint real-estate market tumbling
(DBN)

____________

Oil/Gas:

Russia, Saudi Arabia output freeze helps oil price higher in Asia The bleeding isn’t over for the energy sector, despite the Saudi Arabia-Russia oil deal Saudi Arabia is using the Frank Underwood playbook Watch the Saudi-Russian oil freeze fizzle before your eyes Oil prices rise 2% as output talks turn to Iran Iran snubs Doha proposal, won't freeze on oil output levels Iran's Sanctions Revenge — It will not join the 'illogical' oil production freeze There's One Place Where OPEC Can't Broker an Oil Deal: Texas
(DBN)

Draw First, Ask Questions Later: Why Oil and Gas Companies are Fully Tapping Their Revolvers Before Restructuring
(DBN)

Restructuring Oil and Gas Partnership Debt? Tax Planning Is Key
(DBN)

The Best Protection: Safeguards in Purchasing Distressed Oil and Gas Assets
(DBN)

Deloitte: 35 percent of E&Ps at risk of bankruptcy in 2016 Coming Soon: Big Bankruptcies In Oil And Gas Report: About 175 E&Ps With High Debt Risk Bankruptcy Driller bankruptcies in 2016 could top GFC - Deloitte
(DBN)

Not Even a Wave of Oil Bankruptcies Will Shrink Crude Production
(DBN)

Oil Glut: Some Just Give It Away
(DBN)

US E&P sector sucking wind: Is oil's equilibrium closer than we think?
(DBN)

Oil not going away as headache for big banks
(DBN)

5 things to know about the oil-output freeze Don't believe the hype on freeze talk: Oil expert Oil Markets Unimpressed By Crude Output Freeze Oil Freeze: Iraq Ready to Cap Output, Iran to Maintain Share
(DBN)

Oil hit Alaska like an earthquake: Gov. Walker
(DBN)

Banks are dealing with a 'catch-22' in the oil industry
(DBN)

Oil not going away as headache for big banks
(DBN)

Energy XXI chooses not to make interest payment Energy Company Skips Interest Payment, Seeks 'Alternatives' Energy XXI Provides FY 2016 Second-quarter Results, Operations Update
(DBN)

Mount Kellett's oil and gas woes continue with Energy XXI
(DBN)

Would A Chesapeake Bankruptcy Boost Natural Gas Prices
(DBN)

The Future Of MLPs - When Your Customer Goes Bankrupt
(DBN)

Blackhill Partners Completes Restructuring of TransCoastal Corporation - 36-day prepack
(DBN)

Paragon Offshore Files Chapter 11 in Delaware to Implement Revamp
(DBN)

Oilfield Service Companies Buy Now To Live Another Day
(DBN)

After Bond Snub, Pacific E&P Suitor Is Back With Unusual Offer
(DBN)

World’s oil supply on the brink of being permanently damaged at these prices
(DBN)

Ratings agencies re-evaluate energy companies as commodity prices slide
(DBN)

Woodside Petroleum's net profit collapses by 99%
(DBN)

Warren Buffett keeps adding to his bets on the oil industry
(DBN)

Hedge fund billionaire David Tepper loaded up on energy stocks
(DBN)

____________

Healthcare:

Community Health Systems' Shares Plunge After Weak Earnings
(DBN)

This is what your health insurance looks like this year
(DBN)

____________

Fraud:

Bernie Madoff is not happy about the 'Madoff' miniseries
(DBN)

Saga of law firm chief’s $1.2B fraud to end with auction of home, yacht, $550K watch and other bling
(DBN)

Rothstein's Bank - Not Victims - Will Get Proceeds Of Auctioned Luxury Items
(DBN)

SEC Says Brokers Let Greed Take Over in Insider Trading
(DBN)

____________

Coal:

Moody’s Downgrades Foresight Energy to Caa1
(DBN)

Walter Energy bankruptcy: Mine workers approve new agreement
(DBN)

In Exchange For Cutting Benefits, This Bankrupt Coal Company Agreed To Pay Executives Millions
(DBN)

Wyoming regulators defend coal mine bonding deal to feds
(DBN)

Peabody Energy downgraded at BB&T as bankruptcy odds rise
(DBN)

Peabody Energy Corporation Bankruptcy is More Than Likely
(DBN)

From The Ashes Of Some Coal Plants, New Energy Rises
(DBN)

____________

Celebs:

50 Cent: My Creditors Are Trying to Make Me a Slave
(DBN)

____________

Retailing:

Top 5 lessons US retailers can still learn from Borders bankruptcy
(DBN)

____________

Environmental:

Fraud, obstruction at issue in Southern sentencing
(DBN)

____________

Student Debt:

Income-Based Law School Debt Repayment Will Eventually Ruin You Financially
(DBN)

This movie wants to help solve the student debt crisis
(DBN)

Man Claims He Was Arrested For Unpaid Federal Student Loan Debt
(DBN)

US Marshals In SWAT gear make arrests over non-payment of $1,500 student loans
(DBN)

____________

Education:

DeVry University planning to fight action by federal agencies
(DBN)

____________

Amusement Parks:

Cedar Fair loss widens, missing expectations
(DBN)

____________

 


New Bankruptcy Opinions
(3 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (14 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (7 new filings today)
(DBN)

Bankruptcy Code - Prior BK Codes - 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)

______________

Bankruptcy Statistics:

Bankruptcy filings down in Connecticut
(DBN)

Las Vegas, Reno and Annual Bankruptcy Case Filing Statistics Available
(DBN)

Notable Plan Confirmations or Exits From Bankruptcy in 2015
(DBN)

______________

Personal Bankruptcy:

Keeping Up With The Joneses: Neighbors Of Lottery Winners Might Be At Risk Of Bankruptcy
(DBN)

Couple Lacking Income Can't Convert Ch. 7 Case to Ch. 13
(DBN)

Five Out of Six Not Good Enough
(DBN)

____________

Bankruptcy Reform:

House Panel Approves Financial Institution Bankruptcy Act
(DBN)

____________

Plan Confirmation:

Creditor Not an ‘Insider'; Can Vote on Ch. 11 Plan
(DBN)

Ninth Circuit Issues Controversial Opinion Limiting Insider Status for Purposes of Voting on a Chapter 11 Plan of Reorganization
(DBN)

Extinguishment of Liens Through a Plan of Reorganization
(DBN)

Bankruptcy Court Has Equitable Power to Award Postpetition Interest to Unsecured Creditors Under Cramdown Chapter 11 Plan
(DBN)

____________

Claims Trading:

The Role of Claims Trading in Bankruptcy
(DBN)

____________

Corporate Governance:

The Venture-Backed Company Running Out Of Cash: Fiduciary Duties And Wind Down Options
(DBN)

____________

Bankruptcy Rules:

Local Bankruptcy Rule Updates for the Eastern District of Michigan Effective February 1, 2016
(DBN)

____________

Exemptions:

NE: Possible bill would increase exemptions for bankruptcy
(DBN)

____________

Labor:

Bankruptcy Code Section 1113 Trumps National Labor Relations Act
(DBN)

____________

Avoidance Actions:

Seventh Circuit Finds Suspicion, Negligence and Ineptitude Sufficient to Defeat a Claim that a Transferee Received a Fraudulent Transfer in Good Faith, but Insufficient to Equitably Subordinate the Transferee’s Claim
(DBN)

First-Instance Transaction May Qualify for “Ordinary Course of Business” Preference Defense
(DBN)

____________

Cross-Border:

Foreign Debtor With U.S. Dollar-Denominated Debt Eligible for Chapter 15
(DBN)

____________

ADR:

“Momma Doesn’t Want to Settle”: The Value of Mandatory Mediation
(DBN)

____________

Trade Credit:

Sales of Goods on the Eve of Bankruptcy Can Be Tricky
(DBN)

____________

Settlements:

Approval of Bankruptcy Settlements - No Evidentiary Hearing Required
(DBN)

____________

Interest:

Split Continues Over Unsecured Creditors’ Right to Postpetition Attorney’s Fees
(DBN)

____________

TBTF:

New Fed president vows push for big-bank breakups
(DBN)

Fed's Neel Kashkari: Break Up the Big Banks Progress made since last crisis, but banks still too big to fail
(DBN)

____________

Autos:

GM suspected VW was cheating on diesel emissions
(DBN)

____________

Metals:

Copper prices have crashed 50% and the collapse isn't over yet
(DBN)

____________

Mining:

Fitch Cuts Anglo American to Junk as Restructure Questioned
(DBN)

____________

Sovereigns:

Learning the Lessons of the Argentine Debt Crisis
(DBN)

Pollack announces a new settlement with Argentine bondholders Argentina Debt Crisis Settled With $6.5 Billion Cash Deal Argentina strikes debt deal with hedge fund holdouts Argentina Reaches Deal on Bond Default Lawsuit
(DBN)

'Vultures' granted extra day to respond to Argentina's injunctions demand
(DBN)

Collective Action Clauses, a well established provision is dusted off, reworked and expanded in the context of sovereign bonds
(DBN)

____________

UK:

A rock and a hard place…
(DBN)

Alpari UK Unsecured Clients to Get 75-80 Cents
(DBN)

____________

EU:

ECB's Mario Draghi Faces New Policy Dilemma With Pummeling of Eurozone Bank Stocks
(DBN)

____________

PIIGS:

The Role Refugees Play in the Greek Crisis
(DBN)

Greece Wants Bad Loan Sales to Be More Measured, Minister Says
(DBN)

Spain's Abengoa says has cash needs of 826 mln euros for 2016
(DBN)

Spain's bailed-out Bankia to pay back small shareholders
(DBN)

Italy is facing a full-blown banking crisis
(DBN)

Indictments sought in Monte Dei Paschi case
(DBN)

____________

Mexico:

Urbi completes restructuring under bankruptcy protection
(DBN)

Mexico steelmaker AHMSA to conduct vote on paying creditors, noteholders
(DBN)

____________

China:

The China bomb keeps getting bigger
(DBN)

China's $600 Billion Subprime Crisis
(DBN)

China Debt Binge Spurs S&P Warning as Magnus Sees `Big Problems'
(DBN)

____________

Venezuela:

Heirs of Hugo Chavez are facing a cash crisis
(DBN)

____________

Australia:

Clive Palmer 'can't be trusted', says former manager
(DBN)

Latest sign of Clive's cash crisis
(DBN)

Insolvency and the Senate References Committee Report
(DBN)

____________

MENA:

Young Saudis See Cushy Jobs Vanish Along With Nation's Oil Wealth
(DBN)

____________

India:

India’s top court steps in to clean up toxic assets in the banking sector
(DBN)

____________

Brazil:

Schahin creditors may vote down recovery plan -report
(DBN)

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