July 6, 2017

The Daily Bankruptcy News

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Law:

Law firm mergers surge to midyear record in 1st half of 2017 • Law Firm Mergers Continue at Strong Pace in 2017
(DBN)

This Year, Fewer but Better-Paid Summer Associates
(DBN)

Sued for Discrimination? No Worries!
(DBN)

Negligence suit against defunct Pennsylvania firm can't be filed in New Jersey • NJ Court Won't Hear Malpractice Suit Against Defunct Wolf Block
(DBN)

Davis Polk Elects 10 New Partners
(DBN)

5 questions to ask before proposing an alternative fee arrangement
(DBN)

For-profit Florida Coastal tightens admissions standards and reduces class offerings
(DBN)

Dentons Bolts on Another Firm
(DBN)

Mayer Brown isn’t liable for $1.5B error that erased security interest in loan, 7th Circuit holds
(DBN)

It’s Now Caveat Venditor
(DBN)

Law school had legit, nondiscriminatory reason to fire ex-librarian, judge says • Discrimination Suit Against South Texas Law School Tossed
(DBN)

The iPad Is About to Get More Useful - and Confusing
(DBN)

An NYPD officer was fatally shot in a police vehicle in an 'unprovoked attack'
(DBN)

How to tell if the people in your life are psychopaths • Why psychopaths cannot love their own children, according to a psychologist
(DBN)

Lawsuit calls for eviction of Latham Watkins co-chair's pit bull from New York condo complex • Latham Partner And ‘Dog Racism’: Or, The Dumbest Thing You’ll Hear Today
(DBN)

This Big Law Partner's Hobby Is Sew Cool
(DBN)

A Failed Career In Bankruptcy Law
(DBN)

The Cops Got Called to Break Up a Slip 'N Slide Party
(DBN)

9th Circuit orders government to stop detaining immigrant minors without court hearings
(DBN)

Lawyer says he missed deposition because email notice went to his junk folder
(DBN)

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Judges:

'I Wish You Bad Luck.' Read Supreme Court Justice John Roberts' Unconventional Speech to His Son's Graduating Class
(DBN)

'They're Improper Comments.' Retired Supreme Court Justice Criticizes President Trump's Response to Travel Ban Cases
(DBN)

Creating The Supreme Court As We Know It
(DBN)

Is The Chief Justice Throwing Shade At Donald Trump?
(DBN)

Confident and Assertive, Gorsuch Hurries to Make His Mark
(DBN)

Supreme Court Business Briefing
(DBN)

SF Judges Are Asked for a Day's Pay to Reduce Budget
(DBN)

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Wall Street:

US stock futures pull lower, as investors keep searching for cues
(DBN)

Nasdaq halts 3-session skid as tech rally powers stock-market gains • S&P 500, Nasdaq hold gains after Fed minutes • Stocks held back by slumps for energy , auto parts companies
(DBN)

A former banker who raked in $100 million for Morgan Stanley is fighting for his bonus check
(DBN)

Market top ahead because Fed's easy money 'no longer politically acceptable,' Bank of America's Hartnett says
(DBN)

Early indications point to a surprisingly strong second-quarter earnings season
(DBN)

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Layoffs:

Hundreds of thousands of workers could lose their jobs if Senate health bill passes
(DBN)

Two-thirds of jobs in this city could be automated by 2035
(DBN)

After years of growth, automakers are cutting US jobs
(DBN)

As Chippewa takes over, Mesabi Metallics has layoffs
(DBN)

Microsoft employees are bracing for layoffs
(DBN)

HSBC cuts nearly 200 jobs
(DBN)

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Retailing:

True Religion files for bankruptcy but won't close down • Designer jeans maker True Religion files for bankruptcy • True Religion Reaches Milestone Agreement with Lenders • Premium clothier True Religion unveils bankruptcy, plans to chop $350 million in debt • Poor Saggy Rhinestoned Yams: True Religion Files For Bankruptcy • True Religion to close 27 stores after bankruptcy filing: See the list
(DBN)

Retail Apocalypse Can Lead to Suburban Renaissance
(DBN)

Guess Who's About to Overtake Sears in Appliance Sales
(DBN)

Former Sears employees worry about lost severance, possible reduced pension
(DBN)

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Celebs:

'RHONY' Star Dorinda Medley Slams ' Bankrupt Fool' Sonja Morgan!
(DBN)

How Mark Cuban started with just $60 in his pocket and became a billionaire
(DBN)

‘Real Housewives of Potomac’ star Karen Huger’s husband and his company owe millions in back taxes
(DBN)

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Gambling:

Is Glenn Straub's Atlantic City former Revel for sale?
(DBN)

The Atlantic City casino Trump built for $1.2 billion is having a liquidation sale - here's everything up for grabs
(DBN)

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Fraud:

Judge tells Martin Shkreli to stop talking about his trial near the courthouse • Merrill Lynch salesman describes shock, anger after Shkreli lost $7 million for Merrill on short trade and then threatens firm if it tries to collect • Crossing the Rubicon and Gagging Shkreli
(DBN)

Former restaurant owner sentenced for securities fraud
(DBN)

Infamous dealer of fake art ordered to pay $81 million in restitution to victims
(DBN)

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Autos:

Goldman Sachs: It looks like demand for Teslas has peaked • Tesla’s Stock Is Getting Hammered Today. Here’s Why • Tesla's Sales Raise New Fears Ahead of Model 3 • Goldman predicts Tesla shares will get cut in half on ‘plateauing’ Model S sales • Tesla Is Starting to Face Serious Competition • Tesla Story Becoming Increasingly Fantastic As Business Model Falls Apart
(DBN)

U.S. Light Vehicle Sales Since 2006
(DBN)

O'Reilly Automotive plunges after sales miss and warning of 'weak consumer demand'
(DBN)

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Healthcare:

Patrick Soon-Shiong's NantWorks to take over St. Vincent and 5 other California hospitals
(DBN)

Navicent outbids Prime to acquire bankrupt Georgia hospital
(DBN)

10 things Trumpcare would eliminate from Obamacare
(DBN)

Senate Republicans avoided July 4 parades, and their constituents, amid health care debate • Fearing financial havoc from lost medical coverage, residents press Utah’s Sen. Mike Lee to oppose Republican health care bill
(DBN)

Cruz's Plan for High Risk Medical Patients
(DBN)

The Heroin Crisis in Trump’s Backyard
(DBN)

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Student Debt:

10 colleges where graduates have high debt
(DBN)

Millions of student loans could be headed for a shakeup in coming months
(DBN)

Some Federal Student Loans Canceled in New Jersey
(DBN)

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Banking:

Banks want to meet with Jeff Sessions about fair lending enforcement
(DBN)

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Corporate Governance:

Chancery Opinion Reviews Voting Agreements and Director Compensation
(DBN)

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Economy:

US factory orders fall; core capital goods orders revised up
(DBN)

Fed might start balance-sheet drawdown in Sept., FOMC minutes hint • Selected highlights from the Fed’s minutes • The Fed is divided over when to start unwinding its massive balance sheet • Fed Officials Ready to Start Shrinking Portfolio in Months • Fed Minutes Could Show How Inflation Could Sway Rate Rises • US Treasurys trade flat after Fed releases minutes • FOMC Minutes: Inflation Discussions • The Fed Follows a Script, But Inflation Isn't Playing Its Part
(DBN)

The Fed grows worried its loose policy threatens US financial stability
(DBN)

4 obvious signs the US economy is stalling
(DBN)

How the June Jobs Report Matters for the Fed
(DBN)

Here’s what central banks may do in the rest of 2017
(DBN)

Survey: American Households Still Face Lingering Economic Challenges from Great Recession
(DBN)

Why Soaring Assets and Low Unemployment Mean It's Time to Start Worrying
(DBN)

The slow fall of the middle class - How America lost the world’s best economy
(DBN)

The global economy is doing something it hasn't done in 7 years and that has Wall Street excited
(DBN)

Bannon on top income-tax rate: Put a 4 in front of it
(DBN)

'Why should we continue these deals?': Trump is floating a radical idea on trade that an expert says 'definitely could happen'
(DBN)

Germany voices concerns over a trade war between US and Europe
(DBN)

Trump draws hard line on trade ahead of his first G-20 meeting • Trump Considers Hard Line on Chinese Steel in Advance of G20 Summit • G-20 meeting could make a 'big difference' to Trump’s credibility: BlackStone vice chair • Merkel braced for ‘difficult negotiations’ at G20 summit • G20 Preview: Trump Against the World • Hamburg braces for mass protests as G-20 gathering puts the city under a spotlight • 5 things to watch for at the upcoming G-20 meeting
(DBN)

Trump's trade choice: Follow the postwar order or blow it up
(DBN)

'America First' Faces a Big Test
(DBN)

G-20 summit will offer a snapshot of global dysfunction: Stratfor
(DBN)

Here’s what happened to 20-somethings who came of age in the Great Recession
(DBN)

Mark Zuckerberg thinks universal basic income is a 'bipartisan idea' worth exploring in the US
(DBN)

Baby boomers are nowhere close to reaching their retirement goals
(DBN)

Reports of a retirement crisis are off the mark: Think tank
(DBN)

9 jobs with the fastest pay growth
(DBN)

Listen up, millennials. There’s sequence to success.
(DBN)

Ivanka Trump defends paid leave plan
(DBN)

The reasons why millennials move less frequently than previous generations
(DBN)

Small business hires dropped in June, but employees saw wages rise, Paychex survey shows
(DBN)

Fourth of July spending by the numbers
(DBN)

Where did baby boomers go wrong? This generation isn’t financially prepared for retirement
(DBN)

China could export a recession to everyone else, says ex-IMF economist
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

9th Cir. Bankruptcy Panel Affirms Dismissal of ‘Wrongful Securitization’ Allegations
(DBN)

Office Vacancy Rate and Office Investment
(DBN)

Mortgages Undergo an Attitude Adjustment
(DBN)

Two major lending changes mean it's suddenly easier to get a mortgage
(DBN)

Update: Framing Lumber Prices Up Year-over-year
(DBN)

Manhattan apartment prices hit record, averaging $2.19 million
(DBN)

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Municipalities:

What You Need to Know About Puerto Rico's Debt Crisis
(DBN)

After S&P Downgrade, MBIA to Stop Seeking New Business
(DBN)

PR in for ‘rude awakening’ opting for bankruptcy
(DBN)

In rare move, Trios Health files for Chapter 9 bankruptcy protection
(DBN)

Illinois still on brink of becoming first state rated junk but one step away from a budget • Illinois bonds trade higher in wake of state budget action • Illinois House to take up budget, tax bills, aiming to override governor’s vetoes
(DBN)

What on Earth Is Wrong With Connecticut?
(DBN)

What’s the Greatest Risk Cities Face?
(DBN)

States Not Fully Recovered from Meltdown
(DBN)

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Oil/Gas:

Oil drops more than 3%, set to end longest run of session gains since 2010 • Oil prices plunge more than 3%, retreating after bull run, as OPEC exports rise in June • Oil Slides As Russia Speaks Out Against Deeper Output Cuts • Oil prices drop nearly 4 percent amid glut fears
(DBN)

Oil prices are more likely to make a big move higher than lower in second half, analysts say
(DBN)

High-risk energy companies at most risk for refinancing - Moody’s
(DBN)

US shale is wrecking its own recovery
(DBN)

Oil surge in U.S., Libya and Nigeria could offset OPEC's cuts
(DBN)

Why oil demand will keep rising, even if we all buy Teslas
(DBN)

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Politics:

Officials are preparing Trump for his big meeting with Putin by giving him 'tweet-length sentences' to talk about • Trump claims other countries, as well as Russia, could have interfered in US election • Investigators Check if Russia Colluded with Pro-Trump Sites
(DBN)

Trump to say 'fundamental question of our time is whether the West has the will to survive'
(DBN)

White House: Where the top economic adviser is paid $30,000 a year and the chief calligrapher pulls down $102K
(DBN)

You Can Now Buy Golf Clubs Used by Donald Trump
(DBN)

Chris Christie Gets Roasted With a Detailed Sand Sculpture of His Day at the Beach
(DBN)

A Graceless President, a National Betrayal
(DBN)

Trump Is Free to Tweet. That Doesn't Make It Fair. • How the Psychology of Cyberbullying Explains Trump’s Tweets • I Found Trump’s Diary—Hiding in Plain Sight
(DBN)

To Comprehend Trump, Read This
(DBN)

The Remaking of Donald Trump
(DBN)

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Coal:

Coal, Nuclear on the Losing End of Power Shift
(DBN)

Restructurings help brighten U.S. coal's near-term outlook - Moody's
(DBN)

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Travel:

United apologizes for taking away a child's seat and giving it to someone on standby
(DBN)

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Awards:

Leonard H. Gilbert Receives Founder’s Award from International Insolvency Institute
(DBN)

Six at Akin Gump Named to Turnarounds & Workouts’ Top Bankruptcy Tax Specialists List
(DBN)

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Investigations:

Investigating Suspect Company Collapse: Old School Forensics Are No Longer Enough
(DBN)

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Debt Collection:

Oregon 'debt buyer' crackdown heads to governor's desk
(DBN)

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New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (13 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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Bankruptcy Statistics:

Bankruptcy filings in Buffalo/Rochester drop 3.1 percent in June
(DBN)

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Safe Harbors:

Controversial Safe Harbor: Supreme Court to Address Circuit Split of Clawback Protection in Bankruptcy Code
(DBN)

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Exemptions:

MT: Court rules that debtors may claim exemption for HSAs
(DBN)

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Recharacterization:

SCOTUS to Settle Circuit Split on Rule Applicable to Recharacterization of Debt to Equity Disputes
(DBN)

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Valuation:

9th Cir. Holds Bankruptcy Cram-Down Valuations to Use ‘Replacement Value’ Not ‘Foreclosure Value’
(DBN)

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Ch. 13:

Chapter 13 Residential Mortgages: Anti-Modification Round 3
(DBN)

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Estoppel:

District Court Rules that Plaintiff’s Prior Bankruptcy Does Not Preclude Products Liability Suit Involving Pelvic Mesh
(DBN)

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Litigation:

Law profs find an ‘astonishing’ drop in win rates for federal plaintiffs
(DBN)

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TBTF:

Fed posts banks' 'living wills,' gives AIG, Prudential more time
(DBN)

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Personal Finance:

This Is the Best Time of Year for Furniture Deals
(DBN)

Three great questions to ask when you’re being interviewed, from a rock-star management professor
(DBN)

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Marijuana:

Bankruptcy Alternatives If Your Marijuana Biz Fails
(DBN)

A major problem for the cannabis business: Banks keep staying away
(DBN)

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Sovereigns:

Keep Eye on Sovereign Debt for Next Minsky Moment
(DBN)

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UK:

Schemes of Arrangement: Share-splitting unsuccessful in blocking a takeover scheme
(DBN)

Insurers say the UK's pensions crisis could be solved with tax returns
(DBN)

Three-quarters of graduates will never repay their student loans - IFS
(DBN)

Austerity Prevails • Theresa May warns Britain could end up bankrupt like the Greeks if we abandon austerity
(DBN)

The EU's chief Brexit negotiator says 'frictionless trade' is 'not possible' after Britain leaves
(DBN)

Britain's most senior financial regulator says leaving the single market will not necessarily be bad news for the City • The UK financial sector could be £43 billion stronger after Brexit with City 'roadmap'
(DBN)

These UK-based international law firms saw upticks in revenue for the fiscal year
(DBN)

The pensions regulator has played its weak BHS hand well
(DBN)

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PIIGS:

Italy swoops in to save another bank leaving taxpayers on the hook for over $25 billion
(DBN)

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Canada:

Alberta energy regulator wants Supreme Court to review well abandonment ruling
(DBN)

Canada has twice as many vacant homes as the US did before the crash
(DBN)

Stelco to get $250 million blast of capital
(DBN)

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India:

India moves to unblock sluggish bankruptcy process
(DBN)

Gujarat HC stays bankruptcy proceedings against Essar Steel
(DBN)

ICICI Bank, others move UK court to recover $600-mn loans to Essar arm • Defaulters may follow Essar route to block bankruptcy • Essar Steel going to court could hit recovery in 12 large bad loan exposures case • Essar Steel insolvency issue vs RBI: What lies ahead?
(DBN)

Bank NPAs crisis: Insolvency process can only get delayed if courts entertain appeals against RBI orders
(DBN)

India's Jyoti Structures says tribunal OKs insolvency proceedings
(DBN)

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China:

Court Freezes $182 Million in Assets of Chinese Internet Tycoon
(DBN)

LeEco's woes have just ramped up as creditors order asset freeze
(DBN)

LeEco boss asks for time, pledges to pay back debts
(DBN)

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North Korea:

US General: 'Self-restraint' is all that holds the US and North Korea from war • Pentagon Spokesman on North Korea Missile Test: 'This Was a Very Provocative Action' • U.S. Tells North Korea It Is Prepared to Go to War • Can the US wait North Korea out? • 5 Questions About North Korea's Missile Test You Were Afraid to Ask • Rex Tillerson still has a skeleton crew at the State Department to deal with North Korea • Here's the only way to fix North Korea now • Trump's tweets suggest the pressure on China over North Korea may just be beginning • Negotiations Won't Stop North Korea From Getting a Nuke • Trump warns of ‘severe’ consequences for North Korea as Russia, China balk at tough U.S. talk
(DBN)

Trump's trade tweet on North Korea and China misses the mark
(DBN)

North Korea nuclear missile risk causes obscure trade by hedge funds to surge
(DBN)

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MENA:

Qatar Lashes Back at Demands by Saudi-Led Group • Qatar crisis: Saudi Arabia and allies meet to decide whether to extend sanctions • ‘No way out of this’ for Qatar as deadline passes to meet ‘humiliating’ demands: Ex-ambassador • Qatar's outlook cut by Moody's amid Saudi-led blockade • Qatar Restrictions to Remain: Saudi Arabia
(DBN)

Qatar Airways just got an exemption from Trump's laptop ban
(DBN)

London court to hear Dana Gas sukuk case in September
(DBN)

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Japan:

Japan's population is falling faster than it ever has before
(DBN)

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Brazil:

Rio Olympics look to IOC for help with $40 million debt
(DBN)

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China:

A new China worry is taking over Wall Street
(DBN)

China’s $162 Billion of Dealmaker Debt Raises Alarm
(DBN)

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