January 27, 2017

The Daily Bankruptcy News

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Law:

The Real Reason Cravath Raised Salaries
(DBN)

40 lawyers leave Sedgwick in two separate mass moves; firm calls them ‘efficiency adjustments’
(DBN)

Aspiring top-tier lawyers still face 'class ceiling', says new report
(DBN)

The Charlotte Law School Tapes: Dean Drops F-Bombs, Calls Faculty 'Delusional' About Their Power
(DBN)

KWM Creditors Report Reveals Failed Merger Efforts and Millions Raised by Business Sell-Off
(DBN)

Lawyer’s Pitch-Perfect Response To Obvious Sexism
(DBN)

The Law School That Crumbled: Triumph Or Tragedy?
(DBN)

Don’t Be That In-House Counsel
(DBN)

UK: Firm of the Year 2017 results: The top firms The mediocre firms The worst firms
(DBN)

KWM administrator blames fleeing partners for collapse
(DBN)

Law Professor Arrested For Child Abuse
(DBN)

The 20 American law school programs that lead graduates to the highest salaries
(DBN)

President Trump Has Already Been Sued 34 Times Since Being Elected
(DBN)

Donald Trump Plans Executive Action on Unsubstantiated Claims of Voter Fraud Trump's planned move to investigate baseless voter-fraud claims delayed
(DBN)

Preparing Lawyers to be Practice-Ready in a Tech-Driven World
(DBN)

Speech-To-Text Dictation For Lawyers: What You Need To Know
(DBN)

Did Trump Just Say That Honoring the Geneva Conventions Is for Fools?
(DBN)

Lawyer is reprimanded for pretending to gag during prosecutor questioning of witness
(DBN)

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Judges:

BK ED WI: Brett H. Ludwig Named U.S. Bankruptcy Court Judge
(DBN)

'I Beg You to Recuse Me': Anna Nicole Smith Judge Finally Gets His Wish
(DBN)

Alito and Roberts are less like Scalia than two of the three top SCOTUS contenders, study says
(DBN)

Federal Judge Benchslaps Attorney General For ‘Superficial Posturing’
(DBN)

Trump Fulfills Conservative Wishes With High Court Shortlist
(DBN)

Florida judge accused of racist and sexist remarks resigns before impeachment probe
(DBN)

Fans have fantasy sports, Supreme Court nerds have FantasySCOTUS
(DBN)

Hardiman May Be Most Moderate of Trump SCOTUS Finalists
(DBN)

Trump's sister weighs in on Supreme Court pick
(DBN)

Courtrooms and Hearing Rooms of the Future: Five Key Technological Trends for 2017
(DBN)

Judge certifies class action claiming Pacer fees are too high
(DBN)

How to kill a Supreme Court nomination
(DBN)

When Democrats Blocked an 'Out of the Mainstream' Justice
(DBN)

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Wall Street:

Dow poised to break winning run, with earnings and GDP data on the agenda
(DBN)

Stocks Close Mixed Following Lackluster Trading Session
(DBN)

How much credit does Donald Trump deserve for Dow rally?
(DBN)

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Layoffs:

Wet Seal to close stores, lay off workers
(DBN)

Endo to cut 90 jobs
(DBN)

Payless lays off 165
(DBN)

MemorialCare Health System lays off 130
(DBN)

About 200 layoffs expected at Jackson County Health and Human Services
(DBN)

Harvard endowment arm to cut staff by half, 115 jobs
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

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Politics:

There's an 'ongoing mass exodus' at the State Department of people who don't want to work for Trump Top security expert: Trump's unsecured Android phone could be used to spy on the president Hacker reveals Donald Trump’s Twitter account is linked to a private Gmail address Trump makes outlandish claims during grilling by ABC News anchor over voter-fraud falsehoods Trump’s ex-Breitbart advisor Bannon is drafting executive orders – and basically winging it Trump: 'The world is an angry mess' Congressional Republicans Suddenly Lose Interest in Executive Overreach
(DBN)

Memos: CEO of Russia's state oil company offered Trump associate, allies a stake if sanctions were lifted
(DBN)

Trump, Republicans struggle for common ground at party retreat
(DBN)

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Alternative Energy:

Solar energy jobs are growing 12 times faster than the US economy
(DBN)

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Healthcare:

Florida medical group files for bankruptcy
(DBN)

Trump is making a massive promise about his Obamacare replacement After Retreat, GOP Decided Little on Health Repeal and Replace Obamacare in 200 Days? Good Luck With That Plan On Obamacare, President Trump told Republicans ‘let it explode’
(DBN)

Insurers may say 'we have to get out' if Obamacare repealed without replacement
(DBN)

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Coal:

Peabody defends disputed reorganization plan in bankruptcy court
(DBN)

Peabody gets U.S. court approval to pursue reorganization
(DBN)

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Retailing:

Several retail chains on verge of bankruptcy after poor holiday sales
(DBN)

Apparel Companies Accounted for half of 2016 Retail Defaults
(DBN)

Sears Holdings sinks to post-Kmart merger low Sears Shares Tank on Forecast It’ll Burn Through $1.8 Billion This Year
(DBN)

Apparel Retailer Wet Seal to Close All Stores Teen retailer Wet Seal is suddenly closing all of its stores Wet Seal Closing All Stores, Still Hasn't Filed For Second Bankruptcy Wet Seal Will Close All 171 Stores in Latest Retail Bloodbath
(DBN)

Gymboree CEO to Step Down From Ailing Chain as Debt Wall Looms
(DBN)

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Sporting Goods:

With no new bids, Performance Sports to sell assets to Sagard, Fairfax PE interest in Performance Sports fails to transform into bids
(DBN)

Performance Sports Goes With $575M Stalking Horse Bid
(DBN)

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Economy:

Bernanke: There are 2 reasons why the Fed may want to wait on shrinking its balance sheet
(DBN)

Kansas City Fed: Regional Manufacturing Activity "Continued to Expand Moderately" in January
(DBN)

Fed to Align Itself With Government Hiring Freeze
(DBN)

Weekly Initial Unemployment Claims increase to 259,000
(DBN)

Donald Trump's 4% Growth Target Is Easier Said Than Done
(DBN)

Fiat-Chrysler CEO: There's 'no doubt' Trump's economic plans will be an 'overall positive for us' Auto CEOs: Trump is good for the industry
(DBN)

Trump to Mexico leader: If you won't pay for wall, I'll cancel meeting Peso tumbling TX: 38 in Congress, None Want a Wall McConnell: Here's how much the border wall will probably cost Mexico's president: I 'reject' US decision to build the wall and we will not pay for it The Many Unanswered Questions About Trump's Border Wall America Is Already Paying for the Wall With Mexico Trump Administration: 20% Mexican border tax could pay for the wall Here’s What the US Imports From Mexico – and Who Would Pay Trump’s 20% Tax An economist explains why Trump’s idea for a 20% tax on Mexican imports would totally backfire White House Walks Back 20% Import Tariff 5 Major Challenges to Building the Wall Trump Tax Idea for Wall Echoes House GOP Plan Scalia opinion on EPA regulations could block Trump’s wall 'Trump's plans to finance his wall are going to hit the auto industry like a ton of bricks' Trump's Little Mexican War How Trump’s immigration and trade policies could hurt border town economies Mexico Tariff Plan Would Harm Tx. Economy
(DBN)

Countries Where Trump Has Businesses Not Included in Immigration Ban
(DBN)

NAFTA Showdown: Mexico Has a Wild Card to Play Is NAFTA Over? Gloom Descends on Mexico's NAFTA Capital Trump and NAFTA: New deal won’t be easy Marchionne: Ending NAFTA Could be a Problem
(DBN)

Trump's plan to force pipeline makers to use US steel is 'dictatorial' and 'a bad idea,' critics say
(DBN)

A worrying percentage of Americans admitted their loan applications were not 'completely accurate and factual'
(DBN)

Labor secretary nominee's company outsourced jobs Hundreds of Law Professors, Students Oppose Labor Nominee
(DBN)

Ford's CEO says he's ready for the era of Trump tweets Ford CEO: We Have Right Amount of US Plants Fords Workers Get $9,000 Bonus
(DBN)

How Corporate America Can Survive Trump
(DBN)

Harvard professor: This should be Trump's top priority on financial reform
(DBN)

Mnuchin Faces More Queries on China, Debt Before Senate Vote
(DBN)

'King of Bankruptcy ' has lessons for Trump
(DBN)

Disorganized: Union membership hit an all-time low in 2016
(DBN)

Here's how President Trump has it wrong on welfare
(DBN)

President Trump says military more important than balanced budget
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

Economic Indicators Dashboard
(DBN)

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Real Estate:

New home sales drop more than 10% in December New Home Sales decrease to 536,000 Annual Rate in December
(DBN)

Property Tax Liens: Weird AND Fun
(DBN)

Bankruptcy judge takes away management rights from Bronx landlord being sued by tenants
(DBN)

Mortgage rates resume upward march after brief pause
(DBN)

Hamptons home prices take a beating
(DBN)

A $90 Billion Debt Wave Shows Cracks in U.S. Property Boom
(DBN)

Judge OKs Schuylkill Mall auction
(DBN)

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Municipalities:

Puerto Rican Unions Opposed to Measures Passed by the Federal Board
(DBN)

Will Puerto Rico become the newest star on the American flag?
(DBN)

Fitch, Moody’s And Now S&P Downgrades USVI Bonds As Territory Barrels Towards Financial Collapse
(DBN)

Tough decisions ahead for debt-ridden St. Bernard
(DBN)

Millions of barrels of Venezuelan oil stuck at sea in dirty tankers
(DBN)

San Bernardino seeks final confirmation of bankruptcy plan Friday
(DBN)

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Oil/Gas:

Drillers face $43 billion cash shortfall in 2017, study says
(DBN)

Fri: Oil prices take a breather after hitting nearly 3-week high
(DBN)

Expect '3 R's' in Oil & Gas in 2017, Says AlixPartners Study: More Restructurings, More Realignment, Some Rebuilding
(DBN)

Big Oil May Not Need To Borrow To Pay Dividends For The First Time In 5 Years
(DBN)

Trump's border tax will send oil prices up Border Wall Tax on Mexican Crude Oil Would Cost U.S. Drivers
(DBN)

Energy services companies roar back to life - but only in the US
(DBN)

Oil Prices Rise As OPEC Put Its Foot On The Brakes
(DBN)

U.S. Corporate Tax Proposal Would Totally Disrupt U.S. And Global Oil Markets
(DBN)

Bonanza Creek settles with Silo Energy on bankruptcy related claims
(DBN)

Paragon Offshore looking for exit from bankruptcy by mid-June
(DBN)

Rig Builder Keppel Posts Smallest Annual Profit In A Decade
(DBN)

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Autos:

Takata really, really, really wants to avoid bankruptcy
(DBN)

Auto Workers' Bonuses Surge as Companies Post Gains
(DBN)

Volkswagen's Ex-CEO Martin Winterkorn Probed on Suspicion of Fraud
(DBN)

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Celebs:

Newt Gingrich is denied $6 million in bankruptcy case
(DBN)

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Distressed Investing:

Delaware Court Rules Against Tilton’s Patriarch Partners in Dispute Over Records
(DBN)

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Fraud:

Clever Pleading Won’t Allow Individual Creditors to Sue, Madoff District Judge Says
(DBN)

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Advisors:

Carl Marks Announces Three Promotions
(DBN)

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Corporate Governance:

Delaware Supreme Court Finds that Implied Covenant of Good Faith and Fair Dealing Requires Reversal
(DBN)

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New Bankruptcy Opinions
(3 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 (6 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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Cross-Border:

Second Circuit Refuses to Expand Scope of Chapter 15 of the Bankruptcy Code
(DBN)

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Tax:

Creditors Recover Estimated Tax Payment To IRS Pursuant To LLC Operating Agreement In DBSI
(DBN)

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Exemptions:

BAP Gives Trustee a Heavy Burden to Prove Fraudulent Exemption Planning
(DBN)

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Proofs of Claim:

Supreme Court Focuses on Intersection of FDCPA and Bankruptcy Code
(DBN)

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Insurance:

Insurer Allowed to Recoup Premiums Against Insurance Claims
(DBN)

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Debt Collection:

CFPB Releases Findings From Its Debt Collection Survey
(DBN)

Ninth Circuit Slams MJ for Approving 'Worthless' Class Action Settlement
(DBN)

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Software:

Bankrupt ATopTech Wants $1.5M For Employee Incentives
(DBN)

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Food/Beverage:

Longtime Pizza Hut pillar declares bankruptcy
(DBN)

Thorne’s Markets closes all stores: Report
(DBN)

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Electricity:

Close To Ch. 11 Confirmation, EFH Still Faces Hurdles
(DBN)

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Corporate Reform:

Pence, Hensarling: Dismantling Dodd-Frank remains a high priority
(DBN)

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Auto Racing:

Garbage: Response from Boston Grand Prix CEO in bankruptcy court filing
(DBN)

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UK:

More go bust as personal borrowing grows Figures show steep rise in recorded personal insolvencies
(DBN)

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EU:

EU Cross-border asset freezing has just become easier
(DBN)

EU Requirements for Contractual Bail-In Clauses
(DBN)

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PIIGS:

Greece and Creditors Face Pressure on Bailout Deal Greek economy seen surging this year, but not as much as government, creditors say Creditors turn up pressure, demand legislation of reforms Greece, creditors fail to bridge differences on bailout
(DBN)

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Canada:

Nortel cleared to end bankruptcy , distribute $7-billion to creditors
(DBN)

Tip Top Tailors owner gets protection; to close some stores
(DBN)

Canadian Oil Industry Not Threatened By Trump
(DBN)

Leaner and Meaner After The Crash, Oil Sands Industry Expands
(DBN)

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Brazil:

Power was cut from Rio's ghost-town Olympic stadium because of $930,000 in unpaid bills
(DBN)

Arrest warrant issued for fallen Brazilian billionaire Eike Batista sought in Brazil corruption probe
(DBN)

Petrobras Creditors Put Up $5.6B Worth Of Bonds In Buyback Offer
(DBN)

Dutch court delays bankruptcy ruling on subsidiaries of Brazil's Oi -sources
(DBN)

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India:

With bankruptcy law, chances of another Mallya happening are remote: NCLT
(DBN)

Bankruptcy law will develop debt financing: MS Sahoo
(DBN)

Can new insolvency code overcome huge backlog, poor infrastructure?
(DBN)

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Belize:

Belize restructuring to drag as creditors set to reject terms
(DBN)

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Ukraine:

Ukraine central bank declares Fortuna-Bank insolvent
(DBN)

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China:

A Default in China Spreads Anxiety Among Investors
(DBN)

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Mozambique:

Mozambique may have a way out of its billion dollar secret debt—but it probably won’t use it
(DBN)

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