January 19, 2017

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:

Death of the billable hour kills off traditional law firm franchise
(DBN)

The Trump Bump in Profits Per Partner
(DBN)

Like a TV legal drama, law partners fight… over databases
(DBN)

Number of LSAT tests administered jumps nearly 8 percent; is optimism or scheduling the reason?
(DBN)

Latest LSAC data: applicants down 4.2% from January 2016
(DBN)

More law schools should consolidate, writes former dean
(DBN)

Law School Deans Ask For Extension On Exploitation
(DBN)

Law Professors That Spoke Out Against Jeff Sessions’s Nomination Subjected To Records Request
(DBN)

94 Law School Deans Ask ABA To Postpone Proposed 75% Bar Passage Requirement
(DBN)

KWM arises from the ashes in Europe
(DBN)

Weil Gotshal litigation veteran chooses new firm over retirement
(DBN)

Where Will You Be In 100 Years? (When We Have Gender Parity In The Legal Profession)
(DBN)

Lawyers Should Not Be Empathetic When It Comes To Collecting Fees
(DBN)

A Legendary Litigator Jumps From Biglaw To Boutique
(DBN)

LinkedIn's head of recruiting says there are 2 major hiring mistakes he sees all the time
(DBN)

Microsoft’s Top Lawyer Toasts Legal Secretaries
(DBN)

alt.legal: How To Make A Billion Dollars — From Biglaw To Big Bucks
(DBN)

Orrick’s New Partners: Diverse By Many Metrics
(DBN)

Video Shows Attorney Attempting to Put Woman Into Trance for Sex
(DBN)

New Legal Drama Set To Insult Our Intelligence Even More
(DBN)

______________

Judges:

New bankruptcy judge named for Western Washington state
(DBN)

A nasty fight is looming over Trump's Supreme Court pick
(DBN)

Kardashian Sisters Lose Arbitration Bid; Judge Cracks Cosmetic Jokes in Opinion
(DBN)

During Hearing, Justice Sotomayor Asks What If You Tried To Trademark 'Trump is a Thief'?
(DBN)

Merrick Garland Quietly Returns to Bench as Chief Judge of D.C. Circuit Court
(DBN)

______________

Wall Street:

US stock futures slip ahead of Mnuchin hearing, ECB decision
(DBN)

Stocks close mixed as earnings season continues; financials lead U.S. stocks rise moderately but Dow closes at 2017 low
(DBN)

Goldman Sachs CEO: The Markets Were Already Great Before Trump's Win
(DBN)

These 2 charts will give stock pickers everywhere nightmares
(DBN)

Stocks under pressure as retail picture darkens
(DBN)

______________

Layoffs:

Time Inc. Trims Jobs In Ad Sales Revamp
(DBN)

Robots and artificial intelligence set to upend the art of making a sale
(DBN)

Kellogg cutting 250 jobs
(DBN)

Deutsche Bank Says Job Cuts Will Continue
(DBN)

Memorial Hermann Health System to cut 112 jobs
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

______________

Banking:

Deutsche Bank is scrapping bonuses for senior employees because of the bank's performance
(DBN)

______________

Politics:

Trump: Low Approval Ratings are Rigged Donald Trump Least Popular New President in at Least a Generation, Poll Finds Days Before Inauguration, Trump Shells Out $25 Million for Trump University Settlement Trump's Ethics Train Wreck Former ‘Apprentice’ contestant sues Trump for assault denial Fact-Checking Donald Trump's Claim About 'Today' Show's Ratings Report: Multi-Agency Probe Investigating Possible Secret Russian Money Used to Aid Trump
(DBN)

DeVos: We Need Guns in Schools in Case of Grizzly Bears DeVos Hearing Erupts into Partisan Debate Trump's education secretary spars with Bernie Sanders in contentious confirmation hearing What Betsy DeVos Did (and Didn't) Reveal About Her Education Priorities
(DBN)

Trump's pick for the top US healthcare role got hammered for shady investments into medical companies Members of Congress should not trade stocks
(DBN)

______________

Retailing:

Target's Shares Pummeled on Poor Holiday Results
(DBN)

The Limited Files for Bankruptcy , But May Live On — Online
(DBN)

Sun Capital said to almost double money on The Limited investment despite company bankruptcy filing
(DBN)

Pittsburgh Mills Mall Scheduled For Foreclosure Auction
(DBN)

Sears Clings to Catalog Thinking in an Online World
(DBN)

BCBG to Close Stores, Restructure as Online Shift Takes Toll
(DBN)

Now's the Time for Big-Box Stores to Embrace the 19th Century
(DBN)

Traders look for opportunities in discounted retail stocks
(DBN)

Here's why JC Penney's turnaround is in trouble
(DBN)

Retail Bulls Get Slaughtered
(DBN)

______________

Student Debt:

Trump Faces Time Bomb in College Loan Program
(DBN)

Live Nation to help employees pay off student loans
(DBN)

Consumer agency sues Navient over student loan repayments CFPB slams Navient for misallocating student loan payments Feds sue the biggest student loan company in the US alleging 'shortcuts and deception' against borrowers
(DBN)

Older Americans Are Taking on More Student Loan Debt Number of retirees with student loan debt quadrupled in last decade 70 years old with nearly $180K in student loan debt
(DBN)

Bill will allow 529 plan to pay off student loans
(DBN)

This lawyer refinanced his student debt with a fintech start-up and deeply regrets it
(DBN)

______________

Golf:

Agawam Hunt country club in Rumford files for bankruptcy
(DBN)

______________

Mass Torts:

Proposed New York Bill Seeks Fairness in Asbestos Litigation by Requiring Claimant to File All Asbestos Trust Claims Within 45 Days of Commencement of Civil Action
(DBN)

______________

Pharma:

Drugmaker Fined $100 Million for Raising Drug Price 85,000%
(DBN)

______________

Coal:

U.S. watchdog calls Peabody bankruptcy plan fees ''exorbitant''
(DBN)

Peabody plans to hand shares to workers after bankruptcy
(DBN)

______________


Economy:

Gas and housing prices pushed up America's cost of living in December
(DBN)

Trumponomics: Winners and Losers
(DBN)

CEO Euphoria Over Trump Becomes Caution
(DBN)

Industrial Production increased 0.8% in December
(DBN)

If Obama did what Trump is doing he'd be called a communist: Nouriel Roubini
(DBN)

Americans have been lying to themselves about the economy for way too long
(DBN)

Budget Watchdog to Trump: Government Spending Is on an Unsustainable Path
(DBN)

Bad Explanations for the Financial Crisis Won't Die
(DBN)

Yellen: The Fed is close to its goals and expects to hike rates 'a few' times this year Key Measures Show Inflation close to 2% in December Inflation breaches 2-year high in signs of a strengthening economy
(DBN)

Fed's Beige Book: Modest expansion, Tight labor markets Fed Says U.S. Growth Continues Modestly as Job Market Tightens
(DBN)

The shakiest Cabinet pick on Trump’s economic team
(DBN)

The Fed is turning more dovish
(DBN)

Yellen: US Close to Full Employment
(DBN)

Ranking the Obama Economy
(DBN)

Visualizing a Disturbing Truth: 8 Billionaires Own as Much as 3.6 Billion People
(DBN)

Repeal of liquidation tool would be a major unnecessary error
(DBN)

Rising Default Rates Not Indicative of Economy’s Health
(DBN)

America's rise of nationalism has it barreling towards a crisis
(DBN)

The CEO of the world's largest hedge fund says populism is now No. 1 market concern
(DBN)

Can Trump Really Make America Great Again?
(DBN)

Companies Are Recycling Their Old News to Avoid Being Blasted in a Trump Tweet GM's $1B plan is not driven by Trump, likely dates back to 2014 With job announcements, firms appear to seek Trump approval Trump's Job Claims Don't Always Add Up Trump Tweets Back: Companies are adding US jobs 'because of me!'
(DBN)

Trump: Apple's CEO has 'his eyes open' to manufacturing in US
(DBN)

Treasury Secretary Lew Warns Trump Against Waging a Trade War
(DBN)

Biden to Davos: Top 1% 'not carrying their weight' Davos Elite Searches for Fixes to Save Its System From Populists Lagarde admits IMF's 'harsh' conversion to inequality crisis
(DBN)

More than 1,600 factory workers are being fired after Trump said he’d save their jobs
(DBN)

Trump advisor Scaramucci nails the problem with the economy — and suggests it will take 5-15 years to fix
(DBN)

Brown asks for FBI files tied to Mnuchin company New York probing reverse mortgages at Treasury nominee Mnuchin's ex-bank
(DBN)

Wilbur Ross says he's "pro sensible trade" in audition to be commerce sec Here’s What Ross Said of Interest on the Economy, Energy, Infrastructure Commerce nominee Ross says top priority is renegotiating NAFTA Ross Says ‘All Aspects of NAFTA’ Open for Renegotiation Under Trump Secretary of Commerce: Who Is Wilbur Ross? Trump Commerce Nominee Wilbur Ross to Divest Stake In PE Firm Confirmation Hearing: 'King of Bankruptcy ' Wilbur Ross Wilbur Ross Prepared For Trump Cabinet By Putting Undocumented Worker On The Street China is America’s “vendor,” and needs to treat its biggest customer better, Trump’s commerce pick says Commerce Pick Wilbur Ross to Divest at Least 80 Holdings
(DBN)

Comparing 25- to 34-year-olds now with 25- to 34-year-olds in 1989 is super depressing
(DBN)

The 20 highest-paying jobs in America
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

Economic Indicators Dashboard
(DBN)

______________

Real Estate:

Purchase Agreements: Say What You Mean … The More Precise the Better?
(DBN)

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

AIA: Architecture Billings Index increased in December
(DBN)

US accuses JPMorgan of mortgage discrimination in lawsuit JPMorgan Hit With Pair of Bias Claims in Obama's Final Hours
(DBN)

Credit Suisse will pay a $5.3 billion settlement over pre-crisis mortgage-backed securities
(DBN)

Mortgage Fines and Bond Restructuring
(DBN)

Home-builder sentiment slips in January as postelection elation eases Homebuilders keep confident moving into 2017
(DBN)

Foreclosed mall once valued at $190M is auctioned for $100
(DBN)

____________

Municipalities:

Puerto Rico oversight board favors more time for restructuring talks More time for Puerto Rico restructuring talks Puerto Rico Fiscal 'Junta' Needs More Time to Restructure
(DBN)

Rothschild replaces Millstein as Puerto Rico financial adviser
(DBN)

HHS, Treasury chiefs recommend increased healthcare funding for Puerto Rico
(DBN)

Report: 'Hartford May Need a Bail Out to Restore Solvency' State Must Devise Special Hartford Rescue
(DBN)

Unfunded Pensions Almost Sank Houston
(DBN)

______________

Oil/Gas:

Crude Prices Fall on Fears Over U.S. Shale Output Oil Slides On Shale Fears, Strong Dollar U.S. Shale To Put A Firm Cap On Oil Prices Oil Stuck After API Reports Huge Gasoline Build
(DBN)

Fund manager who correctly predicted 2014 drop in oil now sees prices in the $30s
(DBN)

IEA: U.S. shale oil 'leaner and fitter'
(DBN)

'Permania' grips the US shale oil industry
(DBN)

Ultra Petroleum, in bankruptcy , settles pipeline lawsuit
(DBN)

OPEC's Production Cut: Who Will Cheat First?
(DBN)

Oil major CEO warns of world riddled with uncertainties that could hold back investment
(DBN)

Paragon Offshore Announces Agreement in Principle to Support a New Plan of Reorganization
(DBN)

Panel: OPEC cuts to come largely in line with promises OPEC slashes production but sees higher U.S. output ahead OPEC cuts could backfire as rivals step into the gap, warns IEA
(DBN)

Can Saudi Arabia Survive With Oil Below $60?
(DBN)

______________

Travel:

American Airlines is banning carry-on bags and overhead bin use for basic economy passengers
(DBN)

______________

Education:

Trump Education Secretary Pick Sure Doesn’t Seem Willing to Enforce Laws Against Fake Colleges Trump's Education Pick Has Debt Collection Ties
(DBN)

______________

Autos:

Faraday Future, once seen as a 'Tesla killer,' is said to be in shambles as cash runs low and executives flee
(DBN)

Takata shares dive 17% on bankruptcy restructuring report Takata bidders said to favor Japan bankruptcy; shares tumble
(DBN)

How GM's Lawyers Failed in Their Duties
(DBN)

______________

Food/Beverage:

Struggling Fairway Opens Its First Store Since Declaring Bankruptcy
(DBN)

______________

 


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 (20 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (26 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)

______________

Bankruptcy Statistics:

BK ED NY Beating DE SD NY, SD TX
(DBN)

______________

Professional Compensation:

Secured Lenders Beware: Delaware Bankruptcy Court Holds Fee Cap Unenforceable
(DBN)

______________

Proofs of Claim:

Justices appear divided over treatment of stale claims in consumer bankruptcies
(DBN)

Sotomayor Rips Into Bad-Debt Industry, Other Justices Cautious About Enforcement
(DBN)

SCOTUS Hears Oral Arguments on FDCPA Out-of-Statute Debt Case

The Intersection of Bankruptcy, Debt Collection and the Supreme Court
(DBN)

Supreme Court Hears Oral Argument in Midland Funding v. Johnson
(DBN)

______________

Consolidation:

Substantive Consolidation − Recent Decisions Examine a Bankruptcy Court’s Ability to Augment a Debtor’s Estate
(DBN)

______________

TIA:

Appeals Court Overturns Marblegate, Citing Analysis by Shearman & Sterling Partner
(DBN)

Second Circuit Reverses Marblegate Decision
(DBN)

Second Circuit Holds that Trust Indenture Act 316(b) Prohibits Only Non-Consensual Amendments to Core Payment Terms of Bond Indentures
(DBN)

Second Circuit Court of Appeals Overturns District Court Decision in Marblegate Regarding Section 316(b) of Trust Indenture Act
(DBN)

Second Circuit Rules on TIA Section 316(b); Overturns Marblegate (and Caesars)
(DBN)

Marblegate’s Lost Marbles and Why Bondholders and Indenture Trustees Should Care
(DBN)

______________

Cross-Border:

Nortel – finally, the ground-breaking cross-border bankruptcy settlement
(DBN)

______________

Shipping:

Creditors fear Hanjin sale of Long Beach terminal stake will leave them empty-handed
(DBN)

U.S. judge approves sale by Hanjin Shipping Co of Total Terminals stake
(DBN)

______________

Fraud:

The Story of the Libor Scandal
(DBN)

______________

Textbooks:

Pearson plunges as digital switch forces new profit warning Pearson's Textbook Mistake Pearson profit warnings wipe almost £2bn off its value
(DBN)

______________

Pensions:

The Great Texas Pension Fix
(DBN)

______________

Celebs:

Dance Moms' Abby Lee Miller Tries to Avoid Jail Time in Bankruptcy Fraud Case ‘Dance Moms’ Abby Lee Miller Wants No Jail Time In Fraud Case; Feds Disagree Abby Lee Miller Begs Feds To Keep Her Out Of Jail: Criminal ‘Dance Moms’ Star Will Pay For Sketchy Past? 'Dance Moms' Abby Lee Miller Says Fame Went to Her Head and Caused Multi-Million Dollar Fraud
(DBN)

______________

Healthcare:

Lannett will be first drugmaker to go bankrupt amid price scrutiny, short seller predicts
(DBN)

Deal to save struggling hospital collapsed over funding for uninsured patients
(DBN)

______________

Lehman:

Former Lehman CEO Fuld Emerges as Backer of Wealth-Advisory Firm
(DBN)

______________

UK:

Insolvency clawbacks: monies paid and returned prior to insolvency
(DBN)

Europe Oil Firms, U.K. Retailers May See 2017 Debt Restructuring
(DBN)

Bradford Bulls arise from the ashes?
(DBN)

The Biggest Questions About Brexit and the Banks May’s Brexit Will Be Both Hard and Risky
(DBN)

Lagarde warns UK of pain ahead as Brexit approaches
(DBN)

BHS administrator fees rise as row breaks out over Sir Philip Green's right to £35m Duff & Phelps under fire over BHS insolvency fees
(DBN)

UK financier makes new offer to take over Tata Steel pension scheme
(DBN)

______________

EU:

Creditors get improved right to seize debtors' bank accounts under European regulation
(DBN)

European Insolvency Regulation recast and pre-packed asset sale arriving in the Netherlands
(DBN)

Bank of America's CEO is getting worried about what Europe is turning into
(DBN)

______________

PIIGS:

Greece: Party leaders cross swords in Parliament over way forward
(DBN)

Greece: In Debt Review, EU Creditors Losing Faith
(DBN)

______________

Canada:

The Paramountcy Principle in Bankruptcy and Insolvency Law: The Latest Word
(DBN)

______________

China:

The Chinese government finally admitted that its economic data was made up
(DBN)

There’s one really big problem with China’s plan to lead the new era of globalization
(DBN)

Everyone has got China's debt problem all wrong
(DBN)

China state banks offer funds in bid to cool fierce liquidity squeeze, yuan dips
(DBN)

______________

India:

Bankruptcy code to reduce dependence on bank finance, says Chairperson of Insolvency and Bankruptcy Board of India
(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 $64/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 2017