March 9, 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:

State AG sues seeking to shut down troubled bankruptcy firm, alleging fraud
(DBN)

Missouri attorney general sues to shut down St. Louis bankruptcy firm
(DBN)

GC’s Biggest Irritation: When Lawyers Charge Time for Reviewing Their Bill
(DBN)

Everything You Ever Wanted to Ask Richard Susskind About the Future of the Legal Profession
(DBN)

Go-Go Times for Legal Consultancies as Houston Outfit Announces Expansion
(DBN)

Message From Employees To Legal Department: You aren't making our jobs as easy as we would like
(DBN)

Kirkland & Ellis Earned $70 Million Contingency Fee
(DBN)

Tech: 3 Questions That A 2016 Law Firm Needs to Ask Itself
(DBN)

Firms Bucking the System to Recruit Top Students
(DBN)

The Best Law Schools For Getting A Biglaw Job (2016) These law schools have the highest percentage of grads going straight to BigLaw
(DBN)

The 2017 U.S. News Law School Rankings Leak!
(DBN)

ABA Poised To Tighten Accreditation
(DBN)

State Supreme Court Lowers Bar Exam Standards Due To Declining Pass Rates
(DBN)

$38 Million Award for Online Defamation
(DBN)

Judge tosses lawyer’s defamation suit against Nevada bar
(DBN)

Passenger video shows LaVoy Finicum’s last moments — rebuts conspiracies
(DBN)

Disbarred securities lawyer pleads guilty to evading $1.5M in taxes
(DBN)

Smoker’s Lawyer Sanctioned for Tobacco Trial Conduct
(DBN)

Loyola professor who called slavery 'not so bad' loses lawsuit against New York Times
(DBN)

In Louisiana, People Are Going to Jail Without Ever Getting a Lawyer
(DBN)

Law Student Convicted For Role In Miami Molly Ring
(DBN)

Maryland court rules officer must testify against colleagues in Freddie Gray case
(DBN)

19 unprofessional habits that could cost you a job
(DBN)

Steven Avery's lawyer says new evidence gives the 'Making a Murderer' convict an 'airtight alibi'
(DBN)

Lawyer gets 90 days for filing ‘completion’ forms for unperformed counseling, community service
(DBN)

Erin Andrews won a huge $55 million settlement — but she will probably never see most of it Marriott GC on Erin Andrews' Case: 'We Have to Live With That'
(DBN)

How much is a year of wrongful incarceration worth? $1.5M is too high, federal judge rules
(DBN)

FBI agents are being investigated for not reporting the shots they fired at an Oregon occupier
(DBN)

______________

Judges:

If I Were a Bankruptcy Judge, I’d be Promoting Bankruptcy Mediation Now — Part Two
(DBN)

Appellate judge pleads guilty, in private, in airport gun-possession case
(DBN)

The Conservative Era Is Over Mitch McConnell’s Sensible Supreme Court Strategy Possible Supreme Court pick would make history in many ways Two Justices Pick Up Where Scalia Left Off
(DBN)

Meet Donald Trump’s sister, the tough, respected federal judge Ted Cruz called a ‘radical extremist’
(DBN)

Judge orders arrest of defendants who are late to court as a result of her closed-door policy
(DBN)

Man accused of threatening lives of federal judge and FBI on Twitter gets probation
(DBN)

Supreme Court Justices Sued!… By Lawyer With Nonsensical Complaint
(DBN)

Pennsylvania Judge Wins $291.4 Million Powerball Jackpot
(DBN)

Judge in courtroom rant as roof suffers fourth leak due to overflowing lawyers’ toilets
(DBN)

______________

Wall Street:

U.S. stocks set to rebound as oil jump fuels optimism
(DBN)

China unease weighs on stocks, lifts yen
(DBN)

Stocks fall; as oil prices slip, energy companies take a dive Stocks pull back, breaking a winning streak for the S&P 500 Selloff Led by Energy Halts Longest S&P 500 Rally Since October
(DBN)

Citigroup Says Markets Revenue to Drop 15% in First Quarter
(DBN)

Ex-JPMorgan Broker Gets Five Years for Gambling Funds Away
(DBN)

______________

Layoffs:

Buffet Chain Fires Hundreds With No Warning
(DBN)

Lockheed seeks to lay off up to 1000 aeronautics workers
(DBN)

US Jobs Report: Oil, Gas Layoff Troubles Continue
(DBN)

Oil companies scale back Prudhoe Bay rigs, could cost ‘thousands of jobs’
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

______________

Alternative Energy:

Vivint cancels $2 billion deal with struggling SunEdison SunEdison, TerraForm Surge as Vivint Cancels Criticized Deal SunEdison Faces Lawsuits, Cash Crunch as Vivint Cancels Deal
(DBN)

____________

Retailing:

Sports Authority Bankruptcy Disrupts Sporting-Goods Industry
(DBN)

Dick's Sporting Goods Vows to Be Aggressive With Sports Authority Dick's Sporting Goods reports fourth-quarter earnings
(DBN)

Sporting Goods Retailers Hit Losing Streak Why are sporting goods retailers in such a slump?
(DBN)

Sports Authority roundtable discussion tackles DIP rollup issues, UCC strategies
(DBN)

Sports Authority supplier slashes forecast
(DBN)

Buyers see opportunities, risk in Sports Authority bankruptcy
(DBN)

Will Bankruptcy Be Next for Pacific Sunwear?
(DBN)

Beware, Anthropologie: You could be the next J. Crew.
(DBN)

10 retailers outperforming their beleaguered peers
(DBN)

____________

Politics:

Trump Looks To November Trump Is Too Poor for a Third-Party Run Donald Trump by the numbers The Better Business Bureau just called out Donald Trump for lying about Trump University Trump’s new Florida ally is a Sandy Hook truther who mocks parents with dead children Report: Donald Trump Switched to Phone Interviews This Morning Because He Didn't Like the Way He Looked on TV The real Trump tax scandal How Donald Trump gets away with saying things other candidates can’t 6 Facts That Could Haunt Donald Trump From Trump University Why Is Donald Trump Using Such Bad Sound Equipment? Trump paraded raw steaks and assorted 'Trump' products out during his victory speech Poll: Trump Leads GOP Race Nationally
(DBN)

What Republicans' 'Demographic Death Spiral' Looks Like
(DBN)

The net worths of the presidential frontrunners
(DBN)

Working Class Hero President Trump Can Now Prove That He Makes Less Than $500K A Year
(DBN)

Zombie Politics Are Driving Negative Interest Rates, The Drag On Reforms, And The Rise Of Trump
(DBN)

Clinton Takes on Big Companies to Woo Anti-Establishment Voters Fed Governor Donates to Clinton Even as Bank Guards Independence
(DBN)

MN: House speaker sued by debt collectors
(DBN)

____________

Radio:

Has iHeartMedia Defaulted on Debt?
(DBN)

IHeartMedia, Lenders in Fight Over Disputed Share Transfer
(DBN)

Moody's: Default notice won't change iHeartMedia ratings
(DBN)

____________

Mining:

Molycorp bankruptcy auction flops, stirs bondholder rancor
(DBN)

Iron Ore Wars
(DBN)

____________

Shipping:

Profit Tumble on Cargo-Rate Slump Drives Down CMA CGM Bonds
(DBN)

____________

Coal:

Alpha Natural to re-emerge from bankruptcy by June 30
(DBN)

Assumptions challenged, Alpha changes course in bankruptcy
(DBN)

Alpha Natural seeks approval from bankruptcy court to sell assets Coal Miner Alpha Files Chapter 11 Plan Alpha Natural to Try to Sell Coal Assets, Reorganize Leftovers
(DBN)

Environmentalists Are Trying To Close Peabody Energy's Coal Mines By Impeding Bowie Financing
(DBN)

U.S. lawmakers seek independent review of coal cleanup subsidy
(DBN)

____________


Economy:

Consumer credit grew at slowest annual rate in three years
(DBN)

Americans owe a dangerous amount of credit card debt
(DBN)

The 'War on Men' in the Workplace
(DBN)

What’s the Solution to Middle-Class Stagnation?
(DBN)

Treasuries Surge as Global Investors Clamor for Government Debt
(DBN)

The U.S. May Be an Engine of the World Economy, But Perhaps Not For Long
(DBN)

The IMF Is Sounding the Alarm. Is Anyone Listening?
(DBN)

Good luck retiring if the Fed turns to negative interest rates
(DBN)

Jeff Gundlach on the global economy, the Fed's next move, and negative interest rates
(DBN)

Let's Talk Negative Interest Rates
(DBN)

Don't Let Rally Fool You: Commodity Firms Still Face Debt Cliff
(DBN)

America's abandoned factories in hot demand
(DBN)

This chart holds the key to predicting the next US recession
(DBN)

US Debt Clock
(DBN

World Debt Clock
(DBN)

Economic Indicators Dashboard
(DBN)

______________

Real Estate:

8th Cir. BAP Holds Lien Against Only One Tenant by Entirety Avoidable in Bankruptcy
(DBN)

Completed foreclosures drop 16.2%
(DBN)

Foreign Buyers Are Pulling Back, Realtors Say
(DBN)

Milwaukee Senate to look at bill on zombie homes
(DBN)

____________

Municipalities:

Puerto Rico: More Views, Including on the Role of the Obama Administration
(DBN)

Moody’s may downgrade several West Texas local governments because of the oil bust
(DBN)

Puerto Rico House Pushes Vote on Water Utility Bill to Thursday
(DBN)

Settling May Enhance a Creditor’s Standing in a Municipal Bankruptcy, Ninth Circuit Holds
(DBN)

Connecticut Loses Investors' Faith by Blaming Stocks for Deficit
(DBN)

How Birmingham, Alabama, Thrived Despite Jefferson County's Bankruptcy
(DBN)

____________

Oil/Gas:

Midstream energy industry braces for key bankruptcy court ruling Sabine Oil & Gas bankruptcy judge deals blow to midstream companies Sabine Decision Gives Midstream Operators Powerful New Incentive To Talk Pipeline investors shaken by bankruptcy ruling Bankrupt Sabine Can Reject Midstream Contracts, Judge Rules Sabine Oil & Gas May Reject Pipeline Contracts US bankruptcy judge lets oil company shed pipeline contracts Bankrupt oil company Sabine can shed pipeline contracts -court Sabine Oil wins pipeline ruling in a blow to pipeline operators The Opinion
(DBN)

Wed.: The price of oil is seesawing like crazy Crude prices move higher as investors go bargain hunting
(DBN)

Oil Prices Fall As U.S. Inventory Build Seems Inevitable Oil Rally Stalls As Storage Concerns Spike Oil Falls From Two-Month High as U.S. Supplies Seen Growing
(DBN)

Art Berman: 30-50% of US Oil Companies bankrupt in 2016
(DBN)

Deutsche Bank: Crude looks set to top $50 next year
(DBN)

Plummeting global rig count could trigger oil supply crunch
(DBN)

Eyeing oil price rise, Chevron to boost Permian rig count
(DBN)

Forget fracking. Choking, lifting latest efforts to stem U.S. shale bust
(DBN)

This Is Why I Don't Short Anything Anymore
(DBN)

Gasoline prices hit first full week of increases Shocking gas prices from around the world reveal just how bad things are for the oil industries
(DBN)

MLPs: Critical But Often Overlooked Tax Implications Of Suspended Distributions And Debt Restructuring
(DBN)

Why oil's 42% spike could soon backfire Why the Rally in Oil Is Unsustainable Improving Oil Prices Not A Reason For Short-Term Optimism
(DBN)

Why the oil crash isn't a repeat of 2008 crisis
(DBN)

EIA: Second-Biggest US Shale Output Drop Seen For April
(DBN)

Chevron slashes its spending budget nearly 40% Surplus production dissipating: Chevron CEO
(DBN)

King & Spalding taps prominent energy lawyer to lead Houston office
(DBN)

Energy Wars of Attrition
(DBN)

China Crude Oil Imports Hit Record 8 MMbopd In February
(DBN)

Linn Energy : Abandon Ship
(DBN)

Warning of Bankruptcy, Goodrich Pete Skips Interest Payments, Eyes Debt Swap Goodrich Petroleum Delays $11M in Interest Payments Low oil price claims another victim — Goodrich Petroleum
(DBN)

Falling Prices Test Chevron's Multibillion-Dollar Gorgon Gas Bet
(DBN)

LNG oversupply likely to persist for rest of the decade: Analyst
(DBN)

____________

Food/Beverage:

Shake Shack shares plunge 11% early Tuesday
(DBN)

____________

Aviation:

Cape Verde state airline to cut jobs, debt in restructuring plan
(DBN)

____________

Distressed Investing:

Is Now a Good Time to Buy Riskier Debt?
(DBN)

Pimco Says Time to Buy Riskier Debt as U.S. to Avoid Recession
(DBN)

Lehman Lawyer to China Distressed Debt Holders: Expect Pain
(DBN)

Affinion, Linn Energy, Peabody, W&T Offshore Join Restructuring Watchlist
(DBN)

____________

Hedge Funds:

Visium Asset Management probed by DoJ , SEC
(DBN)

____________

Sporting Goods:

Performance Sports Slashes Profit Forecast
(DBN)

____________

Celebs:

Rick Ross Defends His ‘In Da Club’ Remix
(DBN)

50 Cent Claims Stacks of Instagram Cash Were Fake 50 Cent I Flossed on Instagram with Fake Cash 50 Cent tells bankruptcy judge that stacks of $100 bills in Instagram photos are FAKE
(DBN)

50 Cent Files Bankruptcy Reorganization Plan
(DBN)

____________

Resorts:

Aman Resorts Faces Involuntary Bankruptcy
(DBN)

Sale of Adirondacks ranch expected this month
(DBN)

____________

Education:

Clark Atlanta Suit over Morris Brown Property Backed by Ga. Supreme Court
(DBN)

I Survived Trump University
(DBN)

____________

Student Debt:

Student debt load growing, so are delinquencies
(DBN)

Federal agency warns student loan companies about automatic defaults
(DBN)

____________

Autos:

Takata Enlists Restructuring Lawyers as Air-Bag Recalls Mount
(DBN)

Feds reportedly making novel use of civil bank fraud law to pursue new Volkswagen probe US subpoenas VW under bank fraud law: Report
(DBN)

____________

Hollywood:

Relativity's bankruptcy plan may be in trouble
(DBN)

____________

Pensions:

Teamsters protest plan that would cut pensions
(DBN)

____________

Healthcare:

Palmaz may try to buy bankrupt company's assets
(DBN)

Medical Bills Still Take A Big Toll, Even With Insurance
(DBN)

____________

 


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 (17 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:

February Commercial Bankruptcy Filings Climb 32% Y/Y
(DBN)

______________

Subordination:

In re Sentinel Management: The Seventh Circuit Considers Equitable Subordination
(DBN)

____________

Discharge:

Supreme Court to Answer the Question: What is Fraud, Really?
(DBN)

____________

Avoidance Actions:

Opinion in AES Thames – A Pro-Defendant Interpretation of the Ordinary Course of Business Defense
(DBN)

____________

Miscellaneous:

2016 March Madness: Weil Bankruptcy Blog’s Sweet Sixteen
(DBN)

____________

Corporate Governance:

The Impact of Chapter 11 on 'Corporate Democracy'
(DBN)

____________

Toll Roads:

Bankrupt , What Is Next For State Highway 130?
(DBN)

NCDOT Secretary refuses questions after trip to Texas
(DBN)

____________

Debt Collection:

ACA International Releases New FCRA Compliance Guide for Debt Collection
(DBN)

____________

Finance:

Leveraged-Loan Protections Stay Stubbornly Weak, Moody's Says
(DBN)

____________

Shipping:

Mergers may aid shipping sector
(DBN)

____________

Religion:

10 years later: Davenport diocese recovering decade after bankruptcy
(DBN)

____________

Museums:

Sci-Quest granted motion to convert bankruptcy filing to Chapter 7
(DBN)

____________

Sovereigns:

Deal with Holdouts Marks the End of Argentina's Debt Crisis
(DBN)

'Vultures speculated about change in government'
(DBN)

The Price of Argentina's Debt Deal
(DBN)

____________

UK:

Court of Appeal confirms no duty to unsecured third party creditors on enforcement
(DBN)

Addition of Partner Ian Frost Bolsters Vinson & Elkins’ London Finance Practice
(DBN)

Carney Follows Bankers in Warning `Brexit' to Cost Finance Jobs
(DBN)

____________

EU:

How to Fund Assetless Estates in Insolvency? Assessing European Funding Mechanisms
(DBN)

EU Warns of Contagion From France, Italy Economic Weaknesses
(DBN)

Europe's Negative Yields Seep Into Non-Government Bond Sales Behold! The First Covered Bond to Be Sold With a Negative Yield
(DBN)

The ECB's Dilemma
(DBN)

European Bonds Decline as Markets Brace for ECB Rate Decision
(DBN)

____________

PIIGS:

Greek Debt Writedown Can't Be Attacked in German Courts
(DBN)

EU Examines Greek Debt Relief as Schaeuble Doubts Urgent Need Bailout review restarts on Wednesday
(DBN)

$470M Greek Farm Aid Illegal, EU Court Says
(DBN)

Is the Risk of a 'Grexit' on the Rise?
(DBN)

Abengoa shares soar as creditors said to throw lifeline
(DBN)

Italy isn't Greece — it's worse
(DBN)

____________

Canada:

Constructive Trusts in Insolvency: A Canadian Perspective
(DBN)

How Much Can You Fight Inequality? Canada's About to Find Out
(DBN)

'It's heartbreaking': Struggling families opt for bankruptcy in western Labrador
(DBN)

Grande Prairie hosts massive equipment auction in wake of energy slump
(DBN)

____________

Austria:

Austria's Schelling Warns Heta Creditors to Lift Lock-Up
(DBN)

Heta creditors ignore Austrian call to break ranks
(DBN)

Heta bond buyback offer set to fail as creditors stick to guns | Reuters
(DBN)

____________

Africa:

FirstRand to Cut Lending in Another Blow to African Economy
(DBN)

____________

Argentina:

A $19 Billion Credit Fund Can't Wait to Pile Into Argentina Debt
(DBN)

____________

Venezuela:

Hedge Fund Plows Half Its Money Into Venezuela Bond and Wins Big
(DBN)

Maduro pays drug debt with distressed bonds
(DBN)

____________

Australia:

Insolvency experts question Clive Palmer‘s unusual nickel moves
(DBN)

Citic May Write Down $1.7 Billion on Australian Iron Ore Project
(DBN)

Court Clarifies What Is A PPS Lease And When Leased Goods Vest On Insolvency.
(DBN)

____________

India:

CBI likely to widen probe against Vijay Mallya’s defunct airline Banks move Supreme Court in bid to stop debt-ridden Vijay Mallya leaving India Did bankrupt Mallya already flee the country?
(DBN)

Kingfisher employees stage protest against Vijay Mallya
(DBN)

India's House of Debt Needs Asset Sales to Keep From Crumbling
(DBN)

India’s most indebted companies stay afloat with empty promises
(DBN)

____________

Japan:

Negative Rates Fail to Spur Japan Bank Loans in First Month
(DBN)

Nippon Steel pushing hard for Usiminas cash injection -source
(DBN)

____________

China:

The number of people who need to be laid off in China is staggering
(DBN)

____________

MENA:

Knesset passes bankruptcy revolution bill in first reading
(DBN)

U.A.E. Banks Agree Measures to Help Struggling SME Businesses
(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 $63/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