December 21, 2017

The Daily Bankruptcy News

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Law:

Associate Bonus Watch: Big Pay Day If You’ve Put In Big Hours • Biglaw Firm Exceeds Associates’ Bonus Expectations • Kirkland & Ellis Comes To Play With Above Market Bonuses
(DBN)

Simpson Thacher and Kasowitz Benson Sued For Malpractice
(DBN)

Maybe You Shouldn’t Go To Law School Because Of Donald Trump
(DBN)

How did some law schools increase first-time pass rates by at least 10 points in 2017?
(DBN)

Tax Bill Like ‘Manna From Heaven’ For Work-Hungry Firms
(DBN)

More BigLaw Firms Seeing Data Breaches
(DBN)

Top Republicans call for Deputy FBI Director Andrew McCabe to answer questions on Clinton emails
(DBN)

Hollywood producer accused of misconduct by 8 former child actors • Glenn Thrush remaining at NYT after harassment allegations • New York Times reporter Glenn Thrush to be dismissed from White House beat after suspension • Weinstein Assistant Breaks Silence • What About Clarence Thomas?
(DBN)

Behind Big Law's Wall of Silence on Sexual Misconduct
(DBN)

In Retrospect, Deutsche Bank Sees Something Fishy About This Paul Manafort Character • The DOJ hasn't answered a key question about its 'highly unusual' decision to release FBI agents' private texts • A growing chorus of intel officials is sounding the alarm over Trump's allies' attacks on the FBI • Sen. Mark Warner criticizes 'irresponsible and reckless' attacks on special counsel Robert Mueller • House Republicans quietly investigate perceived corruption at DOJ, FBI • Prosecutors ask FBI agents for info on Uranium One deal • Pence Says He Is Cooperating With Russia Probe • What Might Happen If Trump Orders Mueller Fired • McMasters: Russia Wants to Destroy Our Democracy • FBI Fires Back After Trump Comments
(DBN)

Kim Kardashian West Lands Internship At Major Entertainment Law Firm
(DBN)

White House chief of staff John Kelly met with top senators to discuss a DACA fix for January
(DBN)

What’s the Best Way to Take an Afternoon Nap?
(DBN)

Top Florida court to decide whether ticket-fighting startup engages in unauthorized law practice
(DBN)

Device designed to deter porch package thieves is illegal and a lawsuit risk, police say
(DBN)

Judge declares mistrial in Bundy standoff case
(DBN)

How to send a goodbye email to your office without embarrassing yourself
(DBN)

Man assaults girlfriend after last chocolate chip cookie eaten
(DBN)

The robot that knows when you're lying: Scientists create an AI that can detect deception in the courtroom (and it's already 'significantly better' than humans)
(DBN)

Apple tells iPhone users why their older phones are slowing down • Apple Intentionally Slows Down iPhones as they get older
(DBN)

A hotel punished guests for bad reviews with a $350 charge. It’s now being sued by the state.
(DBN)

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Judges:

Youth is ‘a thumb on the scale’ for Trump’s judicial nominees, while weakness is disfavored
(DBN)

Federal Judicial Center Marks 50th Anniversary
(DBN)

Roberts Tells Judiciary to Review Safeguards Against Workplace Misconduct
(DBN)

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Wall Street:

Wall Street set for a weak open as investors digest tax plan developments
(DBN)

Stocks close little changed as Congress passes tax bill
(DBN)

Trump economic advisor Gary Cohn: GOP tax reform will push the stock market even higher • Cohn predicts market rally, says stocks haven't priced in tax cuts
(DBN)

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Layoffs:

AT&T lays off 700 DirecTV workers despite pledge to create jobs
(DBN)

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Politics:

Roy Moore still refuses to concede to Doug Jones — and he’s begging for money to expose ‘voter fraud’
(DBN)

Democrats' 2018 advantage expands
(DBN)

A crucial House district race in Virginia could be decided by drawing names out of a bowl
(DBN)

WSJ Killed Editorial on Trump's Mob Ties
(DBN)

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Food/Beverage:

Former Thorne’s store sale delayed for bankruptcy change
(DBN)

The healthiest breakfasts you can order at 11 fast-food restaurants
(DBN)

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Student Debt:

US Education Department cancels student-loan debts of 12,900 people defrauded by a now-defunct for-profit college • Trump Administration Resumes Forgiving Loans of Ex-Corinthian Students
(DBN)

These student loan borrowers who were scammed won’t be made whole under new formula
(DBN)

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Banking:

Bankruptcy judge clears way for First NBC Bank's estate to pursue plan for marketing tax assets
(DBN)

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Autos:

Faraday Future secures Hail Mary investment, and Jia Yueting takes over as CEO
(DBN)

For Tesla, A New Accounting Rule Means Musk Can't Mislead About Capital Raising Anymore
(DBN)

Judge Dismisses FSNA Bankruptcy
(DBN)

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Finance:

Leveraged Loans Face Less Cushion in a Crash
(DBN)

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Entertainment:

Weinstein Company Bids Due
(DBN)

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Religion:

Bishop: Montana parishes should be exempt from clergy-abuse settlement
(DBN)

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Healthcare:

Trump applauds 'Obamacare repeal' in the tax bill — but there's a big problem with that claim
(DBN)

The ACA is smaller, weaker and more liberal than Obama intended
(DBN)

Life expectancy declines second straight year
(DBN)

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Economy:

One in five American households have ‘zero or negative’ wealth
(DBN)

Extraordinary 2017 trend: "synchronized global recovery"
(DBN)

It's A Done Deal • What you’ll see under the new tax code • The Tax Reform Promise • Gary Cohn: We 'tried 25 times' to cut hedge fund loophole in tax reform bill, but failed • MSNBC grills House Republican on keeping carried interest in tax bill • FactCheck- Trump Promise: Eliminate the carried interest loophole • FactCheck - Trump Promise: Repeal the alternative minimum tax • FactCheck - Trump Promise: Cut the number of tax brackets • FactCheck - Trump Promise: Create a 10-percent repatriation tax • FactCheck - Trump Promise: Lower the business tax rate • FactCheck - Trump Promise: Eliminate the estate tax • Tax cuts could caffeinate the economy, but the jolt of energy might not last long • Trump will personally save up to $15m under tax bill, analysis finds • Only 24 percent of Americans think the GOP tax plan is a good idea, poll says • Tricks That Made a Terrible Tax Bill Look Palatable • 10 things you need to know about the new tax law • 5 Big Questions Raised by the Republican Tax Bill • 34 Things to Know About the Incoming Tax Law • Trump: Slashing taxes on corporations is 'probably the biggest factor' in GOP tax plan • Millionaires aren’t betting on big tax gains next year • Paul Ryan just undercut a major Republican argument about the GOP tax bill • Professions that are probably going to win big from tax reform • Americans think Trump’s tax plan is a giveaway to the rich. These new graphs show they’re right • Tax bill spells big changes for companies’ approach to executive compensation • The GOP tax bill is a huge gift to the US auto industry • Dozens of lawmakers stand to reap a tax windfall due to a GOP loophole • How tax reform will end the nonprofit executive pay scam • Big Medicare cuts triggered by the GOP tax plan won't happen, says House majority leader • Families are going to feel the pain of losing this tax break • What's good for Wall Street in the tax cuts may not be equally good for Main Street • GOP congressman votes 'no' on tax bill, calls it a 'geographic redistribution of wealth' • Trump's tax plan could bring $250 billion into the US — here are the companies set to benefit most • For all the talk of reform, the Republican tax plan leaves many of the biggest tax-avoidance schemes untouched • AT&T just announced huge bonuses for employees because of the GOP tax cut • This is just the start of companies handing out bonuses, raising wages and boosting spending • Bonuses are nice, AT&T, but we see what you're doing, and workers have nothing to do with it • AT&T's Tax Cut Bonus Isn't Just a Gimmick • Companies are rushing to announce special bonuses and pay hikes after the GOP tax plan • Companies unveil wage hike plans after tax bill passage • Workers Won't Profit From Corporate Tax Windfall • No, President Trump, family farms are not getting ‘killed’ by the estate tax • The biggest tax overhaul in decades just passed. Now what? • How to know if America’s big tax bet pays off
(DBN)

Get ready, business owners: Minimum wages are going up all over the place in 2018 • 18 States, 20 Cities to Raise Minimum Wage
(DBN)

Main Street hoping for more traction beyond tax cuts
(DBN)

Future of Work
(DBN)

Cohn: I am staying next year
(DBN)

As shutdown clock ticks, GOP struggles for spending deal
(DBN)

Deficit Could Hit $1 Trillion in 2018
(DBN)

US confirms 300% duties on disputed Bombardier jets, a win for Boeing
(DBN)

The global economy looks steadier, but uncertainty remains, from Trump to Brexit
(DBN)

Lawmakers rush to try and pass a spending bill to avoid a potential government shutdown this weekend • Republican Squabbles Resurface on Funding After Unity on Taxes
(DBN)

Canada will be biggest loser in U.S. trade spats
(DBN)

Dozens of Companies Are Using Facebook to Exclude Older Workers From Job Ads
(DBN)

How the Baby Boomers Destroyed America
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

These changes under the GOP tax plan affect homeowners • Rich homeowners in blue states are among the biggest losers in the GOP tax bill
(DBN)

Married Individual Guarantor: Collecting from Property Subject to a Spouse’s Interest Can Be “Iffy”
(DBN)

US existing home sales jump to 11-year high • NAR: "Existing-Home Sales Soar 5.6 Percent in November" • Comments on November Existing Home Sales
(DBN)

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

AIA: Architecture Billings Index Increases in November
(DBN)

Phoenix Real Estate in November: Sales up 4%, Inventory down 11% YoY
(DBN)

Tax Overhaul May Mean Lower Prices for Manhattan Homebuyers
(DBN)

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Municipalities:

One potential loser in the new GOP tax bill: Puerto Rico • White House says tax bill will not hurt Puerto Rico • Nelson Slams Tax Bill's Unequal Benefits For Puerto Ricans
(DBN)

Puerto Rico Ordered to Make Interest Payments on Pension Bonds • Some Puerto Rico bondholders to get paid
(DBN)

Puerto Rico board to probe $6.9 billion in government bank accounts
(DBN)

Puerto Ricans aren't giving up on Christmas
(DBN)

Puerto Rico: Unexpectedly Hilarious Gifts From YouTube
(DBN)

The real story in Puerto Rico
(DBN)

Problem for Puerto Rico in review of hurricane deaths: 'The bodies have been buried'
(DBN)

Puerto Rico Rises: The Colony
(DBN)

Abandoned pets swamp shelters in post-hurricane Puerto Rico
(DBN)

Illinois drops from the 5th Largest State to No. 6 • Illinois Losing Resident Every 4 Mins • Idaho Fastest-Growing State
(DBN)

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Oil/Gas:

Offshore driller Ocean Rig prepares to explore sale-sources
(DBN)

Linn Energy - Post- Bankruptcy Catalyst Rich E&P
(DBN)

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Aviation:

Hawaiian Holdings Arm Eyes Defunct Airlines' Assets
(DBN)

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Retailing:

More and More Retailers Filed for Bankruptcy in 2017
(DBN)

Toys ‘R’ Us Creditors Move Forward With Debt Investigation • Toys R Us will face tough questions about mounting losses
(DBN)

Walmart is reportedly developing a store of the future with no cashiers
(DBN)

As millennials embrace renting over owning — even clothes — stores are taking notice
(DBN)

J. Crew Invites Local Artists For Holiday Pop-Ups, But Is It Too Little Too Late?
(DBN)

Steinhoff meltdown has silver lining for hedgies
(DBN)

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Travel:

Delta says it lost up to $50 million because of the Atlanta airport power outage
(DBN)

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Nuclear:

Last Hope for U.S. Nuclear Revival Set to Win Go-Ahead
(DBN)

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New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (12 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (7 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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Bankruptcy Statistics:

Total Bankruptcy Filings Increase in November
(DBN)

Retail bankruptcies soared in 2017
(DBN)

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Bankruptcy Fees:

Notice Of Chapter 11 Quarterly Fee Change, Effective January 1
(DBN)

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Venue:

The CLLA Sets Its Sights on Bankruptcy Venue Rules… Again
(DBN)

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Proofs of Claim:

Beware secured creditors: The newly amended US Federal Rules of Bankruptcy Procedure now require filing a proof of claim
(DBN)

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Currency:

Billionaire AOL co-founder Steve Case: Bitcoin mania reminds me of the dot-com frenzy 20 years ago
(DBN)

Litecoin founder Charlie Lee says he’s sold all his holdings in the cryptocurrency
(DBN)

US regulator says bitcoin currently not a threat to banking system
(DBN)

Bitcoin is the biggest bubble of them all, and it’s the Fed’s fault, says Ron Paul
(DBN)

Gary Cohn doesn't own Bitcoin
(DBN)

North Korea Is Suspect in Hack of Seoul Bitcoin Exchange
(DBN)

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Fraud:

Trump grants clemency to an Iowa meatpacking exec convicted in a fraud case • Who Is Sholom Rubashkin? Trump Commutes Sentence Of Rabbi Jailed For Fraud • Trump commutes meatpacking CEO Sholom Rubashkin’s 27-year prison sentence
(DBN)

SEC: Financial adviser bankrupted investors to travel the world
(DBN)

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UK:

Maximizing returns from a UK liquidation
(DBN)

Retailers ‘running out of time’ in the face of insolvency in the New Year amid Toys R Us fears, experts claim
(DBN)

PPF praised for tough line on Toys R Us insolvency talks
(DBN)

Toys R Us tables last-ditch pension deal to halt collapse, reports • Toys R Us holds last-minute talks with pensions body • Toys R Us seeks pension compromise in crisis talks • The woes of Toys R Us – will the “magical place” have its Christmas dreams come true? • Toys R Us not alone in facing string of challenges in retail sector • 3200 Toys R Us jobs on the line as crunch vote looms
(DBN)

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PIIGS:

Greece's creditors must clarify post-bailout support plan, says central bank
(DBN)

Spain’s Catalan voters head to the polls in a too-close-to-call race
(DBN)

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Canada:

Deloitte partially liable for Livent’s losses, Supreme Court rules • Deloitte liable for some, but not all, of Livent's 1990s losses, top court rules
(DBN)

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MENA:

Israeli Banks Take Telecoms Tycoon Elovitch to Bankruptcy Court
(DBN)

How Low Oil Prices Have Decimated The Saudi Economy
(DBN)

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India:

Creditors of insolvent companies can get shares at discount
(DBN)

Insolvency ordinance may lead to greater cases of liquidation for SMEs
(DBN)

More changes to bankruptcy code likely in Budget
(DBN)

India bids adieu to “promoter” capitalism in 2018
(DBN)

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Germany:

Lufthansa eyes EU green light for Air Berlin spoils • German airlines fly home stranded Niki passengers
(DBN)

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Australia:

Phoenixing reform rising beyond the safe harbour
(DBN)

Bankruptcy Trustee Wins with Section 139ZQ
(DBN)

Driver Deliberately Plows Into Melbourne Crowd • 14 Injured After Car Rams Pedestrians in Melbourne in ‘Deliberate Act’
(DBN)

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Venezuela:

Venezuela’s Debt Limbo Has Wall Street Asking ‘Where's My Money?’
(DBN)

A Venezuelan couple found refuge in Puerto Rico. Then the hurricane hit.
(DBN)

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Brazil:

Brazil's Oi Creditors Agree to Rescue Plan That Slashes Debt, Injects Cash
(DBN)

Oi Waited Months for 15-Hour Meeting Where Creditors Said Yes
(DBN)

Brazil's Oi open to buyers after restructuring
(DBN)

Brazil regulator questions Oi restructuring plan, will not block it
(DBN)

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Congo:

More work needed before Congo Republic bailout -IMF
(DBN)

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Netherlands:

Dutch Government's proposals for a new form of binding, pre-insolvency composition - the "Dutch Scheme"
(DBN)

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