January 14, 2016

The Daily Bankruptcy News

View prior editions: Click Here
View prior case summaries: Click Here
Search prior headlines: Click Here
Search prior case summaries: Click Here

Format For Mobile Device




Law:

Do Former Partners of Troubled Firms Have Survivor Guilt?
(DBN)

M&A Surge Expected to Continue in 2016, Survey Says
(DBN)

Associate Bonus Watch: ‘Very Disappointing,’ Below-Market Bonuses
(DBN)

This Skadden Attorney Wants You, Big Law Associate
(DBN)

What Some Fellow Dinosaurs Are Thinking
(DBN)

Combat With Creditors Stymies Zucker Goldberg Bankruptcy
(DBN)

Charleston: Lawyer who was sued by clients files for bankruptcy
(DBN)

Cybersecurity: How to Secure Law Firms
(DBN)

Should this lawyer quit her job at a private firm and accept lower pay elsewhere?
(DBN)

More Fall-Out From A Crooked Broadway Impresario/Lawyer
(DBN)

Coming Out: How Is It Like Leaving Biglaw?
(DBN)

Orrick Hires Top S.F. Prosecutor as Litigation Head
(DBN)

Bankruptcy Lawyer Takes Over As Head Of Womble Pro Bono Efforts
(DBN)

The only 2 coats every guy needs to buy for winter
(DBN)

Lawyers in Wisconsin respond to 'Making a Murderer': 'I almost got physically ill' Two new lawyers have agreed to take on Steven Avery's case from 'Making a Murderer' Jodi from 'Making a Murderer' thinks her 'monster' ex-fiance Steven Avery is 'not innocent' Netflix's Making a Murderer exposes flaws that go far beyond Steven Avery's trial
(DBN)

Frank Easterbrook: No Longer an Academic, But Still an Academic Heavyweight
(DBN)

The Decline of the Bundy Rebellion
(DBN)

Lawyer accused of conducting DNA test on water bottle without permission testifies in ethics hearing
(DBN)

Latest Trend In Attorney Advertising: Adorkableness
(DBN)

Verizon Assigned Sir Mix-A-Lot’s Old Phone Number To This Lawyer… Hijinks Ensue
(DBN)

______________

Judges:

Bankruptcy Judge Position for the Northern District of Illinois
(DBN)

Judge in ‘Duck Dynasty’ Dispute Balks at Stereotyping
(DBN)

Taking selfie with Lady Justice atop courthouse put man behind bars, sheriff says
(DBN)

2 attorneys, partners in law and life, seek 1 judicial seat in opposing primaries
(DBN)

Man gets 18 months for threatening divorce judge in email
(DBN)

Disastrous D***-Joke Deposition Earns Stern Benchslap
(DBN)

You may be powerless to stop a drone from hovering over your own yard
(DBN)

______________

Wall Street:

Wall Street eyes cautious start
(DBN)

Markets are in panic mode
(DBN)

Dow sheds 300+ as S&P breaks below 1,900
(DBN)

10 stocks that led
(DBN)

Albert Edwards: Brace for a 75% stock market crash
(DBN)

Here's the next big thing that can sink stocks
(DBN)

These 6 charts sum up just how brutal the market crash has been in 2016
(DBN)

Don’t be so tempted to sell everything as markets tank
(DBN)

Why 2016 S&P 500 predictions are too high: JPMorgan
(DBN)

Goldman Sachs: High-speed trading is out of control, the stock market is broken
(DBN)

$3.17 Trillion wiped off global stocks this year
(DBN)

______________

Layoffs:

BAE Systems announces 300 Jacksonville shipyard layoffs
(DBN)

Aeropostale to Eliminate About 100 Jobs in Cost-Cutting Move
(DBN)

Goldman Sachs plans deeper job cuts this year
(DBN)

GoPro To Cut 7% Of Workforce After Poor Holiday Sales
(DBN)

SandRidge Energy announces major layoffs
(DBN)

Noranda to lay off 480 employees
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

______________

Politics:

Republicans and Democrats Agree: We Hate Wall Street
(DBN)

Are Lawyers Terrible Presidents?
(DBN)

'Very weak on illegal immigration': Donald Trump fires back GOP’s rising star after State of the Union snub Donald Trump rips 'son of a b----' who set up faulty mic at campaign rally White supremacists say they have “unrequited love” for Donald Trump Donald Trump's gift to America Trump vows security will get even more ‘nasty’ as more rally attendees are manhandled The Bankruptcy and Restructuring of the Republican Party
(DBN)

Cruz: Polls show Donald Trump 'loses to Hillary — and loses by a pretty big margin' Ted Cruz Has a Real Birther Problem Cruz Forgot About Goldman, Citi Loans to Him? Ted Cruz under fire for not disclosing bank loans Establishment warms to Cruz
(DBN)

What if Bernie Sanders captured Iowa and New Hampshire? What If Bernie Sanders Is the Democrats' Best Bet? Cont'd Why Is Bernie Sanders Overtaking Hillary? Sanders campaign sees fundraising numbers soar Fact Check: How much would Bernie Sanders’ health care plan cost the middle class?
(DBN)

As Democratic race narrows, Hillary Clinton rips into Bernie Sanders
(DBN)

Jeb Dings Rubio on Height
(DBN)

Carson's Entire NH Super PAC Staff Quits
(DBN)

Upset Republican donors: Have we wasted our money?
(DBN)

Pressure grows on Warren to endorse a Democrat
(DBN)

15 significant quotes from Obama's final State of the Union Ted Cruz repeats vow to carpet bomb ISIS 'into oblivion' after Obama speech jab Sen. Warren on Obama's State of the Union Address Obama Calls For Bipartisanship While Sabotaging It
(DBN)

Haley plea for 'tolerance' draws cheers and jeers, revealing divide
(DBN)

What US Looks Like Without Gerrymandering
(DBN)

____________

Autos:

3 things that could ruin the auto industry's epic run
(DBN)

Fitch: Auto Sector CDS Widening Signals Market Concerns
(DBN)

VW CEO Meets with EPA Head
(DBN)

____________

Coal:

Arch Coal Bankruptcy Has Citizens Groups Worried About Cleanup Arch Coal bankruptcy sparks worries about mine cleanup
(DBN)

WEBINAR: Arch Coal roundtable discussion digs into valuation, liquidity and DIP needs, fallout from failed exchange offer
(DBN)

US coal miners’ struggles at dawn of 20th century not too far from today’s
(DBN)

Coal prices could fall even further from here
(DBN)

Peabody Energy Is At Its Most Critical Juncture
(DBN)

Obama Wants To Change The Way America Sells Its Coal And Oil
(DBN)

The Coal Industry Is Off To a Terrible, No Good, Very Bad Year
(DBN)

In Kentucky, The Coal Habit Is Hard To Break
(DBN)

Ongoing drop-off in coal leads to earnings declines for CSX
(DBN)

US Coal Production Falls To Lowest Levels Since 1986
(DBN)

This Big Coal Buyer Could Drive Coal Prices Even Lower
(DBN)

____________

Student Debt:

The Tetzlaff Aftermath: Discharging Student Loans In Bankruptcy Might Be Easier Than We Thought
(DBN)

Counseling Help for Distressed Student Loan Borrowers?
(DBN)

The State of the Student Loan Crisis Gets Short Shrift in Obama Speech
(DBN)

The Obama Administration Just Hired One Of Its Biggest Critics
(DBN)

____________

Food/Beverage:

Supervalu sales fall more than expected
(DBN)

Seattle sports drink company Golazo files for bankruptcy
(DBN)

____________

Taxis:

NYC Taxi King Illegally Transferred Property During Lender Dispute The Opinion
(DBN)

____________

Telecoms:

Nortel's Creditors Said to Restart Talks to Split $7.3 Billion
(DBN)

____________

 

Hedge Funds:

Rajaratnam And 75 Other Reasons Hedge Funds Are Scared Straight
(DBN)

____________


Economy:

Six Years Later, 93% of U.S. Counties Haven’t Recovered From Recession, Study Finds
(DBN)

Credit-Fear Gauge Jumps Above 100 for First Time in Three Years
(DBN)

Fed's Rosengren warns about slowing growth and how it could pull down the Fed's rate path
(DBN)

Fed: We're not seeing a whole lot of inflation right now
(DBN)

Beige Book: Economic growth modest in most districts
(DBN)

‘Star Wars’ made it into a Fed report
(DBN)

Consumers’ Household Finance Expectations Decline to Lowest Level Ever to End 2015 Bright spot world economy is 'sluggish'
(DBN)

Americans are working fewer hours—and it’s making income inequality worse
(DBN)

Corporate ratings outlook worst since crisis: S&P
(DBN)

Here's a breakdown of how much the average American earned, by education level
(DBN)

Jeff Gundlach thinks oil is a disaster, rates could finally head higher, and gold could hit $1,400
(DBN)

'The most important chart in the world now' shows $170 billion in capital flight
(DBN)

Myth of college-degreed barista is just that
(DBN)

These charts reveal the depressing transformation in world risks from the credit crunch to the refugee crisis
(DBN)

U.S. Heavy Truck Sales
(DBN)

Why Can't Economists Be Trusted? Ask an Economist
(DBN)

Colorado region's economy 'flat'; energy, agriculture seen as weak areas, says Fed
(DBN)

US Debt Clock
(DBN

Economic Indicators Dashboard
(DBN)

______________

Real Estate:

Creditor on the Hook For Property Upkeep Costs
(DBN)

MBA: Mortgage applications start year off strong, surge 21.3%
(DBN)

The 10 hottest US housing markets to watch in 2016
(DBN)

Sacramento Housing in December: Sales up 19.6%, Inventory down 28% YoY
(DBN)

Phoenix Real Estate in December: Sales up 4%, Inventory down 8%
(DBN)

New Jersey, Florida, were hotbeds of foreclosures in 2015 -report
(DBN)

‘Silence of Lambs’ house still can’t find a buyer
(DBN)

US will Track Secret Buyers of Luxury Real Estate Luxury Home Market Seen Threatened by Transparency in NYC, Miami
(DBN)

____________

Municipalities:

What's Fair for Iowa Is Fair for Puerto Rico
(DBN)

Congressional Hearings Grapple with Puerto Rico’s Fiscal Train Wreck
(DBN)

Supreme Court to Decide Extent of Puerto Rico’s Sovereign Powers High court raises doubts over Puerto Rico sovereignty Proskauer Represents Government Development Bank for Puerto Rico in U.S. Supreme Court Case
(DBN)

Marco Rubio Turns His Back on Puerto Rico, at His Own Peril
(DBN)

Atlantic City Mayor: This is our Pearl Harbor Atlantic City officials blast proposed state takeover Atlantic City casino revenues continue to slide as state takeover bill is introduced New Jersey May Seize Atlantic City as Rebound Eludes Casinos
(DBN)

Chicago: No. 1 for 4th straight year
(DBN)

____________

Oil/Gas:

Oil hit a new 12-year low
(DBN)

Oil eyes second-longest losing streak
(DBN)

Oil drillers face $102 billion cash shortfall in 2016
(DBN)

Analysts play ‘how low can you go’: $10-a-barrel oil? Predictions for $10 Oil Growing
(DBN)

What Impact Does $30 Oil Have On ETF Investors?
(DBN)

Downturn reaches U.S. shale industry as production scaled back
(DBN)

Everything supporting an oil price rally has disappeared
(DBN)

Why the plunge in oil is crushing all stocks
(DBN)

UBS slashes crude oil forecast to $40 a barrel
(DBN)

Gusher of supply keeps pounding oil prices
(DBN)

Demand just as big a drag on oil: HSBC
(DBN)

Is Oil "Cheap"?
(DBN)

SandRidge Energy lays off hundreds of Oklahoma workers
(DBN)

Deals And Demise: The Gory Times Ahead For Oilfield Services A&D
(DBN)

Here's what's really needed to stop oil's fall
(DBN)

Iran is dialing back its oil rhetoric
(DBN)

In Big Lake, Texas, residents are riding out the latest oil bust
(DBN)

Vantage Drilling to Clash With Hsin Chi Su Over Bankruptcy-Exit Plan
(DBN)

Alfaro seeks to buy his bankrupt company's wells Alfaro pitching Primera Energy investors again
(DBN)

Petrobras slashes investment plan
(DBN)

Why Chesapeake Energy Corporation's Stock Could Go to $0
(DBN)

Get Ready for Iran’s Oil: Sanctions Could Be Removed Next Week
(DBN)

Here's why 'lower for longer' is hurting commodity stocks
(DBN)

Here's the oil-Fed chart that Jeff Gundlach thinks ties the whole story together
(DBN)

Falling oil means rising foreclosures in these states
(DBN)

Fitch: US HY E&P Asset Coverage Weaker But Pockets of Strength
(DBN)

____________

Alternative Energy:

Solar stock SunEdison craters after hedge fund titan David Tepper announces lawsuit Appaloosa sues to block SunEdison unit from buying Vivint assets
(DBN)

As Oil Crashed, Renewables Attracted Record $329 Billion
(DBN)

Nevada Solar Industry Collapses by Design
(DBN)

____________

Personal Finance:

What to do with your hands during a job interview
(DBN)

Five ways to access the 'hidden' job market
(DBN)

____________

Lotteries:

The 3 biggest mistakes people make after winning the lottery What's the tax bill on a $1.5B Powerball win? Yay! We've won the Powerball... Oh, hang on Why an Economist Plays Powerball Three guys walk into financial planner’s office with a Powerball ticket For a few minutes, they were Powerball winners 7 ways to splurge if you win Powerball The 10 dumbest things you can do if you win the $1.5 billion Powerball Since everyone's obviously considering taxes, here are the best states in which to win the Powerball jackpot $1.6 billion Powerball jackpot split between 3 winning tickets
(DBN)

____________

Media:

Al Jazeera America to shut down at end of April
(DBN)

____________

Compensation:

Leucadia-Backed HRG Cuts Bonuses After RadioShack, Energy Losses
(DBN)

____________

Fraud:

CFTC Obtains Almost $500 Million Award in a Madoff Feeder Case
(DBN)

Battoo, BC Capital Get $500 Million in Sanctions in Fraud Case
(DBN)

TelexFree creditors to attend bankruptcy proceeding in Mechanics Hall
(DBN)

____________

Celebs:

David Bowie left £135million legacy for his family after savvy business moves pulled him from 'brink of bankruptcy '
(DBN)

____________

Debt Collection:

Debt-collection law firm to pay $3.4M to settle class action
(DBN)

____________

Cameras:

GoPro Down 24%, Cuts 7% Of Its Staff, Says Q4 Was A Disaster Marc Andreessen predicted GoPro's current problems back when it filed to go public Can GoPro be saved? GoPro not done cutting estimates: Goldman
(DBN)

____________

Guns:

Colt Defense Emerges From Chapter 11 Restructuring
(DBN)

____________

Rail:

Commodities slide triggers ‘freight recession’ on US rails
(DBN)

____________

Amusement Parks:

Appeal filed in Conneaut Lake Park bankruptcy
(DBN)

____________

 


New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (22 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (12 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:

Georgia still a bankruptcy leader, even as filings decline
(DBN)

2015 Bankruptcy Recap: 46% Increase Fueled by Oil & Gas/Mining Industry Analysts Predict Further Uptick
(DBN)

______________

Avoidance Actions:

Red Flag Warnings: Ignore Them At Your Peril
(DBN)

New Year, New Fraudulent Transfer Law
(DBN)

____________

UCC:

UCC Financing Statements: The Ins and Outs of “Authorization”
(DBN)

____________

Dismissal:

'Sketchy Activity' Gets Bankruptcy Case Dismissed
(DBN)

____________

Sales:

Faced with a Belated Offer for the Debtor’s Assets, Bankruptcy Court Converts the Case to Chapter 7 to Allow a Trustee to Run the Sale Process
(DBN)

Revel: To Stay or Not to Stay? Third Circuit Reveals the Answer
(DBN)

____________

Ordinary Course Of Business:

Is a "Sound Business Purpose" Always Enough?
(DBN)

____________

Electricity:

Hunt's Proposed Utility Takeover Rattles Texas Regulators
(DBN)

___________

TBTF:

Prudential Is Too Slow To Ditch Too-Big-To-Fail Label
(DBN)

____________

Opera:

Bankruptcy Court Says New York City Opera Can Sing Again; First Production Set
(DBN)

____________

Healthcare:

A year later, Cuomo's $700 million for Brooklyn hospital is still unspent
(DBN)

Go Ye Village officials balk over bank’s foreclosure request
(DBN)

Surplus of Beds Affects Fate of Newark's Landmark Hospital
(DBN)

Top cancer doctor: Do these things to live longer: "Sitting is the new smoking"
(DBN)

Rising Drug Costs Only Getting Worse
(DBN)

____________

Mining:

Molycorp: Holding a Stinky Bag
(DBN)

____________

Television:

Netflix shares extend slide, down over 8%
(DBN)

____________

Retailing:

Quiksilver Said to Seek Financing in Bankruptcy Exit Preparation
(DBN)

Some Sears, Kmart stores to close in cost cutting
(DBN)

____________

Insurance:

Some Ambac shareholders call on CEO to quit, cite delays in paying claims - sources
(DBN)

____________

Newspapers:

Philadelphia plan offers hope for troubled newspapers
(DBN)

____________

Fabric:

Hancock Fabrics Is Said to Prepare for Second Bankruptcy Filing
(DBN)

____________

Metals:

Sherwin Alumina Receives Preliminary Loan Access
(DBN)

____________

Sovereigns:

Argentina-Singer Debt Talks Get a Reboot, But Obstacles Abound Gov’t re-starts talks with ‘vulture’ funds Argentina needs to reach an agreement with holdouts, insists Prat-Gay 'Failing to settle the debt has been extremely expensive for Argentina'
(DBN)

Argentina looks to address amortization hump
(DBN)

Argentina says wants debt deal as fiscal deficit balloons
(DBN)

____________

UK:

The Bank of England is getting even tougher on bankers' bonuses
(DBN)

____________

EU:

European industry just had another shocking month
(DBN)

____________

PIIGS:

Spanish court demands multi-million-euro bonds from Abengoa ex-bosses
(DBN)

Lagarde Said Planning to Meet Tsipras in Davos on Greek Bailout
(DBN)

Greece back on agenda as creditors demand pension reforms
(DBN)

____________

Canada:

Canada's got a lot of problems
(DBN)

Fiduciary Duties of Directors and Officers in the “vicinity of insolvency”
(DBN)

CCAA Debtor in Possession Financing without “Adequate Protection”
(DBN)

Ending Too-Big-To-Fail –TLAC and the Canadian Bail-in Regime
(DBN)

Commercial Property Boom Forecast to End, With Canada Hit Hard
(DBN)

____________

Germany:

German Economy Defied 2015 Global Slowdown as Growth Accelerated
(DBN)

____________

China:

Several Chinese lawyers are arrested; state media said one was ‘blabbering about the rule of law’
(DBN)

China stocks recover after flirting with bear market
(DBN)

A Towering Chinese Debt Mountain Looms Behind Market Gyrations
(DBN)

The China bubble pops
(DBN)

China economic growth seen cooling to 6.5 percent in 2016, more policy easing
(DBN)

____________

Hong Kong:

Court of Final Appeal rules that Section 30A(10)(a) of the Bankruptcy Ordinance (Cap. 6) is unconstitutional
(DBN)

____________

Argentina:

Argentina among world’s worst economies
(DBN)

____________

Australia:

Insolvency Initiatives
(DBN)

US Chapter 11 Bankruptcy and Australian Voluntary Administration Compared
(DBN)

No Question Asked: Dick Smith Creditors Mute on Overdue Millions Dick Smith creditors could be left hanging for six months Dick Smith called in advisors before Xmas Dick Smith employees 'a significant group of creditors '
(DBN)

____________

Mexico:

Mexico's ICA says has reached deal linked in homebuilding unit
(DBN)

____________

Ukraine:

Ukraine to work out debt restructuring with Russia's Sberbank
(DBN)

____________

Russia:

Russia Finance Minister: We Must Cut Budget by 10%
(DBN)

____________


The Daily Bankruptcy News is primarily a curated news link gathering service.   Most of the headlines contained in the publication are a collection of links to stories posted on the Internet by various third party publications.  Such content is owned by third party sources, not The Daily Bankruptcy News, and in some cases, these links change or expire, which means you may not be able to view some news stories in prior editions of the Daily Bankruptcy News. The DBN subscription fee is not a fee for access to the content of the links, but is a charge for the considerable work involved in gathering, organizing and presenting the links. Use of this site and The Daily Bankruptcy News is subject to our Terms of Use. If you received The Daily Bankruptcy News via email (and you have a paid subscription account), to view a news story, click on the headline, and the story should open in your web browser. To view additional stories, click back to the email and click on additional headlines, which will cause new stories to open in your web browser.  You can view the Daily Bankruptcy News on the web by clicking here.

Advertising
Advertising is available in The Daily Bankruptcy News. Click here for details  Feel free to contact us with any questions.

Passwords/Subscriptions
Access to certain links in The Daily Bankruptcy News is available only to readers holding a paid service subscription. These links are currently marked with a "DBN" notation. The cost of a subscription is $62/year, payable annually.  Volume discounts are available for sites with multiple users. Click here to see a schedule of discounts. Complimentary subscriptions are available for full-time educational and governmental employees and for full time students. For information about discounts or educational/governmental subscriptions, contact us by clicking here. A separate password is required for each member of a firm wishing access to restricted links.

New readers can receive a free password good for 30 days by clicking here. 30-day passwords are not available to readers who have previously had a password, even if the password was associated with a different email address used by the reader. Refunds are not available after purchase.

Readers who wish to change their passwords should click here. Readers who have forgotten their password should click here.

Adding Your Email Address To The Distribution List
If you would like to start receiving The Daily Bankruptcy News by email each day, click here, and fill in the information requested. There is no charge to be placed on the distribution list to receive the headlines, although access to many of the links behind the headlines requires a paid subscription (see above, under Passwords). If, after adding your email address to the distribution list, you do not receive an email confirming the addition, please contact us by clicking here for help.

Removing Your Email Address From The Distribution List
If you already receive The Daily Bankruptcy News by email and you wish to remove your email address from the distribution list, click here and send the email that should appear. You do not need to type anything in the body of the email message. Note that the email asking for removal must be sent from the same email address which is on our distribution list. If you do not receive an email confirming deletion of your email address from the distribution list, contact us by clicking here for help.

If receive the publication forwarded from an older email address, you will need to contact us as described below for help removing that older address from our distribution list.

Press Releases/News Tips
Please send press releases and news tips to admin@bkinformation.com

Contact Us
The Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C. You can phone or text us at 281-402-3957. You can email us at accounting@bkinformation.com (email inquiries are usually answered substantially more quickly than phone inquiries). Our mailing address is 935 Eldridge Road, No. 350, Sugar Land, Texas 77478.

Copyright 2016