November 23, 2016

The Daily Bankruptcy News

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Due to the Thanksgiving holiday, The Daily Bankruptcy News will not publish on Thursday and Friday, November 24-25, 2016



Law:

Weil Elects Two New Bankruptcy Partners and One Bankruptcy Counsel
(DBN)

Many Large Companies Are Slashing Legal Budgets, Study Finds
(DBN)

World’s Largest Law Firm Conducts Layoffs
(DBN)

King & Wood Mallesons' European arm considers merger options as recapitalization plan fails Partnership Expert: KWM Clawback 'Practically Impossible'
(DBN)

Does machine-learning-powered software make good research decisions? Lawyers can’t know for sure
(DBN)

Told to go back to his own country, BigLaw partner says lawyers need to stand up and be heard
(DBN)

2017 Legal Salary Guide
(DBN)

Many Deans Resist Law School Accreditors Raising The Bar—'Nobody Looks At Job Outcomes Of PhDs, MBAs'
(DBN)

Sullivan & Cromwell’s New Partners: Impressive, Yes; Diverse, Not So Much
(DBN)

"It's terminal": Partners despondent as KWM mulls future Fewer than 20% of KWM Europe partners signed up to failed deal
(DBN)

Law School Accreditors Raising the Bar
(DBN)

6 iMessage apps everyone should be using
(DBN)

The Best Way to Make Sure Important People Remember You
(DBN)

Jeff Sessions’ Other Civil Rights Problem As Trump's AG, how might Sessions crack down on recreational marijuana?
(DBN)

Trump Appears to Change Stance on ‘Opening Up’ Libel Laws
(DBN)

Legal Scholar: ‘Wildly Inaccurate’ to Accuse Trump of Violating Constitution With His Businesses
(DBN)

Lawyer who lost case because of bathroom break wins an appeal
(DBN)

July 2016 California Bar Exam Carnage
(DBN)

Beyond Biglaw: 3 Tips For Healing Wounds
(DBN)

Gary Was A Great Lawyer When He Was Sober; Now He’s Gone
(DBN)

Forget Holding Them Or Folding Them – Start By Not Leaving Money On The Table!
(DBN)

In re Pants
(DBN)

Han Solo Is In Need Of A Good Lawyer
(DBN)

Reality TV Star Sues Law Firm
(DBN)

Road Rage: Woman Hits 17 Cars
(DBN)

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Judges:

Judge Suspended After He Told New Citizens to Accept Trump or ‘Go to Another Country’
(DBN)

McConnell's SCOTUS Gamble Paid Off
(DBN)

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Wall Street:

U.S. stocks attempt to hold record-high territory as Thanksgiving exodus begins
(DBN)

Dow eclipses 19000 for first time in history
(DBN)

Short sellers are suffering since Donald Trump won
(DBN)

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Layoffs:

Motorola Solutions Lays Off 200
(DBN)

Software maker to cut 100
(DBN)

Seton Healthcare Family To Lay Off More Than 100 Workers
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

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Retailing:

Amazon faces holiday shipping disaster as pilots go on strike
(DBN)

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Banking:

These Senators Want to Cancel Wells Fargo Execs’ ‘Golden Parachutes’ Wells Fargo Bonuses Should be Stopped
(DBN)

In wake of Wells Fargo, U.S. regulator mulls tougher bank sanctions
(DBN)

Three Big American Banks Pose Greater Systemic Risk, Regulator Says
(DBN)

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Credit Counseling:

Florida debt counselor owes $100M, files bankruptcy
(DBN)

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Corporate Reform:

CFPB Case Could Be in Flux Under Trump Administration
(DBN)

Why it won't be easy for Trump to repeal Dodd-Frank
(DBN)

Report: State attorneys general could fill regulatory vacuum caused by Trump presidency
(DBN)

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Coal:

Trump Video Promises End to ‘Job-Killing’ Shale, Coal Restrictions
(DBN)

Coal industry needs more than political help to make comeback
(DBN)

Trump's big plan for the coal industry just got even harder
(DBN)

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Retailing:

Department Stores' Big Sales Are Getting Smaller
(DBN)

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Travel:

Free things you should ask for the next time you fly
(DBN)

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Taxis:

SF: Bankrupt Yellow Cab Is Now For Sale
(DBN)

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Amusement Parks:

Bankruptcy court tells Scuttle’s Island project it must answer creditors’ suit
(DBN)

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Healthcare:

Obamacare Repeal is Complex and Risky
(DBN)

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Celebs:

'Real Housewives Of New Jersey' Style Tax Snitch Allegations Not All That Uncommon
(DBN)

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Economy:

The market thinks there is a 100.2% chance the Federal Reserve hikes in December
(DBN)

Trump may be ready to make a big impact at the Federal Reserve
(DBN)

As Treasury pick, Steven Mnuchin may get questions about how he ran his own bank
(DBN)

How Donald Trump Can Bring Jobs Back to America
(DBN)

How deficits could be the Trump agenda's No. 1 nemesis
(DBN)

Chicago Fed "Economic Growth Increased Slightly in October"
(DBN)

Chemical Activity Barometer "Continues Strong Performance" in November
(DBN)

The highest-paying jobs in America
(DBN)

What Will Trump Trade Policy Actually Look Like? Three Possibilities
(DBN)

Japan's Prime Minister Says the TPP Is 'Meaningless Without the U.S.' Donald Trump’s Pledge to Withdraw U.S. from TPP Opens the Door for China China Touts Its Own Trade Pact as U.S.-Backed One Withers
(DBN)

Future Treasury Secretary Jamie Dimon Has Donald Trump Right Where He Wants Him
(DBN)

Trump Adds Economists, Private Equity Chief to Transition Team
(DBN)

Overtime-Pay Rule to Go Into Effect, but May Not Last Texas Judge Blocks New Overtime Rules: So Much for Populism
(DBN)

The world's skewed distribution of wealth
(DBN)

1,700 People in America Are Becoming Millionaires Every Day 12 million new millionaires will be minted over the next five years
(DBN)

Trump, TPP & AT&T
(DBN)

Trump is right to ditch TPP. How about the WTO next?
(DBN)

Billionaire Carl Icahn Is Considering an Official Economics Role under Donald Trump
(DBN)

Vehicle Sales Forecast: Sales Over 17 Million SAAR Again in November, Possible Record Year in 2016
(DBN)

The Great American Stagnation - A Jolt of Blue-Collar Hope
(DBN)

Most Millionaires Don’t Think They Are Rich
(DBN)

Red Nation, Pink Economics
(DBN)

More than 2M Gov't Jobs Under Scrutiny
(DBN)

Warren Buffett sees $11 billion boom on Donald Trump win
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

Economic Indicators Dashboard
(DBN)

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Real Estate:

Will Donald Trump Be Good for Home Prices?
(DBN)

U.S. Existing-Home Sales Highest Since February 2007 Existing Home Sales increased in October to 5.60 million SAAR Comments on October Existing Home Sales
(DBN)

Cash sales increase for second consecutive month in August
(DBN)

Higher mortgage rates make waves in housing market
(DBN)

Quarterly Housing Starts by Intent
(DBN)

Rising Rates Threaten Global Property Investments
(DBN)

Prices in Donald Trump's Flagship Trump Tower Are Reportedly Taking a Nosedive
(DBN)

The salary you need to afford rent in the 15 largest U.S. cities
(DBN)

The 12 key differences between buying and renting a home, in one chart
(DBN)

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Municipalities:

Chapter 9's Cabinet of Constitutional Curiosities: Ongoing Constitutional Violations
(DBN)

Dallas Faces Municipal Bankruptcy, Seeks $1.1 Billion Infusion for Pensions
(DBN)

FBI agents raid financially troubled town in Puerto Rico
(DBN)

North Jersey Casino Rejection, State Takeover Put Atlantic City In Flux
(DBN)

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Oil/Gas:

'Chapter 22' looms over some US oil and gas bankruptcy survivors
(DBN)

Energy Borrowers Face Tougher Lenders Despite Crude Run-Up Struggling Oil Producers Face Debt Wall Despite Run-Up in Crude
(DBN)

Climbing oil prices shield most U.S. drillers from default, Fitch says
(DBN)

Survey: Oil and gas contractors optimistic after U.S. elections
(DBN)

OPEC Technical Talks Falter As Key Members Reject Cut Oil Prices Fall From Fresh Highs As OPEC Talks Hit A Snag OPEC to debate oil output cut of 1.2 million barrels a day, but Iraq, Iran hesitate Is OPEC Playing The Oil Markets Again? OPEC’s Matrix: If 1 Million Bpd Are Cut, Oil Will To Rally To $59
(DBN)

Oil prices waver as investors mark time ahead of OPEC meeting
(DBN)

Ultra Petroleum Enters Plan Support Agreement With Its Shareholders And Senior Noteholders
(DBN)

Trump's Day One Vow Can Alter Energy Rules But Not Market Forces
(DBN)

Can Tidewater Avoid Bankruptcy?
(DBN)

Norway Oil Producers Deepen Record Spending Cuts Amid Rout
(DBN)

Trump's Energy Job Promise to Clash With Scant Supply of Labor Trump Energy Strategy Hinges On OPEC And Russia
(DBN)

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Politics:

Senior Trump adviser says Trump 'doesn't wish to pursue' charges against Hillary Clinton 'Broken Promise': Trump faces backlash from some of his biggest supporters after reversal on Clinton Most People Are Optimistic about a Donald Trump Presidency Trump condemns white nationalists and defends Steve Bannon in New York Times interview Trump Tries to Disavow Alt-Right Movement Trump: There is 'some connectivity' between humans and climate change Donald Trump Calls for List of Day-One Executive Actions, Outlines First 100 Days The secretive brain trust of Silicon Valley insiders who are helping Trump Fellow Trump Critics, Maybe Try a Little Listening Trump abruptly cancels a meeting with the New York Times in early-morning tweetstorm Trump calls off meeting with ‘not nice’ NYT — and the paper says he’s lying about why Welcome to the reign of King Trump Now Donald Trump Wants to Choose Britain's Ambassador to the U.S. Britain tells Trump: "There is no vacancy" for Farage as ambassador to United States Hate Him or Love Him, Trump Is What the Democratic Process Produced The Trump Foundation appears to have told the IRS it violated a ban on 'self-dealing' Obama, Trump spoke again after their initial meeting at the White House Trump to End NASA Climate Research
(DBN)

See How Donald Trump’s Proposed Term Limits Would Eliminate Half of Congress
(DBN)

Why Hillary Clinton lost the white women's vote
(DBN)

Krugman: White working-class voters keep voting for Republicans 'who say that they're lazy'
(DBN)

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Personal Finance:

People Aren't Very Happy with Starbucks' Quiet Little Price Hike
(DBN)

A father’s letter to his adult children at Thanksgiving: You’re on your own
(DBN)

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Shipping:

Container shipping needs huge wave of redundancies to get back to profitability
(DBN)

Government support to prop up struggling carriers will only delay market recovery
(DBN)

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Celebs:

Judge orders liquidation of Dee Wyly’s assets
(DBN)

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Defaults:

Fitch: 2016 US Lev Loan Default Rate on Track for 2%
(DBN)

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Circus:

Big Apple Circus Gets Buyers' Expressions of Interest
(DBN)

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New Bankruptcy Opinions
(7 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

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

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

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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Litigation:

E-Discovery Takes the Chaos Out of Your Bankruptcy Case
(DBN)

Judges should tailor civil sanctions to harm caused, ABA argues in SCOTUS discovery-abuse case
(DBN)

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Make-Whole:

Third Circuit Rules in Favor of Noteholders on Make-Whole Provision in Debt Indenture
(DBN)

Third Circuit Upholds The Enforceability Of Make-Whole Premiums In Post-Bankruptcy Context
(DBN)

EFIH Noteholders Find Redemption for the Payment of Make-Whole Premiums
(DBN)

Third Circuit Recognizes Validity of Prepayment Premiums with Automatic Acceleration in Its Reversal in Energy Future Holdings
(DBN)

Third Circuit Supports Enforcement of Make-Whole Premium
(DBN)

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Ch. 13:

Bankruptcy Payment Change Notice Rule Changes to Take Effect December 1, 2016
(DBN)

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Discharge:

Mishandling Collateral Gives Rise to Nondischargeable Debt, Eleventh Circuit Holds
(DBN)

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TBTF:

These new 'too big to fail' rules from Europe could hit Wall Street banks
(DBN)

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Rail:

Wilmington rail car manufacturer sued over asset transfer
(DBN)

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Gambling:

U.S. Watchdog Objects to Caesars Entertainment Unit's Bankruptcy Proposal
(DBN)

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Fraud:

Koch brothers among investors who can keep Madoff billions Madoff trustee lawsuits against Koch, others are dismissed Manhattan bankruptcy judge rules on disputed $2 billion Koch Brothers Among Investors Who Can Keep Madoff Billions Madoff Trustee Can't Claw Back Funds From Kochs, Others
(DBN)

Kellogg paid nutritionists $13,000 a year to promote its cereal
(DBN)

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Bankruptcy Crimes:

Sesser man sentenced in bankruptcy fraud case
(DBN)

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UK:

AIG may move its European headquarters from London to another EU country due to Brexit
(DBN)

Report: Nearly half the British population may be forced to work a year longer before they receive their pension
(DBN)

Brexit Has Cut U.K. Wealth By $1.5 Trillion
(DBN)

Battle rages over liquidation of retailer BHS Committee probing BHS failure casts eyes over Green's yachts
(DBN)

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EU:

EU proposes US-style rules to give failing firms second chance Brussels considers Chapter 11-style bankruptcy regime The European Commission unveils US-style protection for insolvent companies Small Companies to Benefit From Proposed New EU Insolvency Rules EU Targets Mountain of Bad Bank Loans in Insolvency Rule Revamp Commission proposes new approach to business insolvency Commission proposes new approach to business insolvency in Europe: promoting early restructuring to support growth and protect jobs
(DBN)

Europe and the US are totally split on how to deal with big banks
(DBN)

EU Readies Retaliatory Response to U.S. Bank Capital Rules
(DBN)

European Companies Happily Take ECB's Cheap Cash, but Don't Spend It
(DBN)

The balance of power – the right deal or the best deal? New administration procedure for housing sector
(DBN)

Bankruptcy statistics in Belgium: October 2016
(DBN)

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PIIGS:

Greece: Second chance promised for bankrupt business owners
(DBN)

Creditors Leave Greece without Reaching Agreement with Government Gov't aims for 'political agreement' with creditors Greece says bailout hard line could be 'social disaster' EU and IMF in effort to unblock Greek bailout talks
(DBN)

Italian bank rescue fund Atlante to buy more bad loans
(DBN)

Irish unemployment falls to post-crash low of 7.5 percent
(DBN)

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Canada:

Canadian oil drillers face uphill battle in 2017, industry group says
(DBN)

Alberta 'orphan' wells needing cleanup proliferate after court ruling
(DBN)

Trump poses competitive threat to Canadian drilling industry
(DBN)

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Germany:

Swedish fintech Klarna buys troubled German startup Cookies after bankruptcy
(DBN)

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Brazil:

Moelis-led creditor group goes to court in Brazil's Oi case
(DBN)

Brazil's Anatel talked to six potential bidders for phone carrier Oi
(DBN)

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MENA:

New UAE Bankruptcy Law – how are creditors protected?
(DBN)

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Taiwan:

TransAsia Airways aircraft forbidden from leaving Taiwan
(DBN)

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China:

Trust Firms Scramble as Court Ruling Threatens to Shake Up Industry
(DBN)

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