June 13, 2017

The Daily Bankruptcy News

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Law:

Chadbourne defections surpass 20 as bias suit, merger loom
(DBN)

Is Big Law Hurting Itself by Being Too Soft With Clients?
(DBN)

Law firms set to become obsolete
(DBN)

Hallmark says Dickens exec harassed Fox Rothschild attorneys
(DBN)

Brown Rudnick expands its Bankruptcy and Corporate Restructuring team with the appointment of Partner Ben Klinger
(DBN)

NQ pay rises at Linklaters, with top performers set to earn over £90,000
(DBN)

GC Would Take More Work In-House, If He Could
(DBN)

Person claiming to be aggrieved fugitive lawyer Eric Conn emails terms of his surrender
(DBN)

Fewer Law School Applicants in Line for Upcoming School Year Law School Applicants - Those with LSAT Scores Below 150 Up 146%, 2010 - 2017
(DBN)

Artificial Intelligence And Its Impact On Legal Technology (Part I)
(DBN)

Apple’s iPad Pro is closer than ever to replacing your laptop
(DBN)

Guy Giving Up Law School To Try Out For The Dolphins
(DBN)

Applicants down half of one percent in 2016-17 cycle Proportion Of Law School Applicants With LSATs > 160 Is Down 35% Since 2010; < 150 Is Up 146%
(DBN)

A Statistic That Should Guide Large Litigation Firms
(DBN)

Trump’s lawyer is completely out of his depth and giving bad legal advice: NYT report Role of Trump's Personal Lawyer Blurs Public and Private Lines Is Marc Kasowitz Drunk On His Own Power? Report: Trump's Private Attorney Tells White House Staff Not To Lawyer Up Legal Ethics Questions for Trump’s Personal The Rule of Law: Implications of the Comey Testimony and the Kasowitz Defense
(DBN)

Trump's Legal Team is Preparing for War
(DBN)

When a liberal power lawyer represents the Trump family, things can get ugly
(DBN)

A tweet from Trump’s legal team shows he doesn’t understand what being president is about Trump's tweets were just used against him in a court's travel-ban ruling
(DBN)

Mueller's lawyer build-up raises flags for Trump allies Trump attorney signals a firm stance in dealing with special prosecutor Trump’s media allies are making the case for firing Robert Mueller Longtime pal says Trump may fire special counsel Robert Mueller Trump may be about to fire special counsel overseeing the Russia investigation Trump Fired Comey. Why Not Mueller, Too? The Law Says President Trump Can’t Just ‘Fire’ Special Prosecutor Robert Mueller If Trump Fires Mueller (Or Orders His Firing)
(DBN)

Was Comey's Leak Illegal?
(DBN)

Comey’s Words Set Gauntlet for Sessions Confronted by Congress Sessions Will Stay Quiet About Talks with Trump, Invoke Executive Privilege, Report Says
(DBN)

My Lawyers Got Trump to Admit 30 Lies Under Oath
(DBN)

When Trump Sued His Biographer
(DBN)

Jones Day partner among Trump's first U.S. attorney nominees
(DBN)

Jeff Sessions's Testimony to Keep Russia Probe in Focus Sessions Under Fire as Lawmakers Seek Details on Russia, Comey Sessions Could Try to Use Executive Privilege at Senate Hearing, But It Sure Won’t Be Easy
(DBN)

Maryland and D.C. To Sue President Trump Over Emoluments Clause A Longshot Lawsuit Against President Trump
(DBN)

Cosby trial shocker: Defense rests after just 6 minutes Bill Cosby Doesn't Testify at Sexual Assault Trial Bill Cosby’s Defense Shocks the Court by Resting Case Why Bill Cosby Didn’t Testify Jury in Bill Cosby case ends first day of deliberations without a verdict
(DBN)

Former U.S. Attorney Preet Bharara Sheds Light on Relationship With Trump
(DBN)

Becoming the Mentor You Wish You'd Had
(DBN)

Homeland Security secretary suggests amnesty for Dreamers, implores Congress to solve problem
(DBN)

The Confederate flag largely disappeared after the Civil War. The fight against civil rights brought it back.
(DBN)

Appeals Court Rules Against Trump's Revised Travel Ban 9th Circuit rules against Trump’s revised travel ban, avoids establishment clause claim Trump’s Travel Ban, Trounced Again
(DBN)

DNA evidence exonerated six convicted killers. So why do some of them recall the crime so clearly?
(DBN)

SCOTUS strikes down citizenship law because of different treatment based on parent’s gender
(DBN)

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Judges:

Gorsuch's Maiden Opinion: Terse, Plain-Spoken and Text-Based Gorsuch's First Opinion Comes With a Hat-Tip to Scalia Alliteration Is Awesome, Ain’t It? Behind a justice's first opinion: A tradition of unanimity In Maiden opinion, Justice Gorsuch embarks on textualist course Gorsuch’s first opinion confirms exemption of debt buyers from Fair Debt Collection Practices Act
(DBN)

Decision time at the Supreme Court: Rulings expected soon on religion, free speech and immigration
(DBN)

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Wall Street:

Wall Street set for a lower open as tech stocks continue to weigh
(DBN)

Stocks Close Mostly Lower But Off Worst Levels
(DBN)

What sparked the Nasdaq’s worst two-session rout in 9 months
(DBN)

Goldman says stock market’s ‘Goldilocks’ environment won’t last long
(DBN)

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Layoffs:

Imax Lays Off 100 Employees in Cost-Cutting Move
(DBN)

This robot-powered restaurant is one step closer to putting fast-food workers out of a job
(DBN)

Will robots eventually replace most mortgage and real estate jobs?
(DBN)

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Retailing:

Ann Taylor, Dress Barn, Loft, Lane Bryant: Store closures on the way
(DBN)

"It's A Perfect Storm": List Of Retailers In Danger Of Bankruptcy Hits Record 22
(DBN)

Another retailer has filed for bankruptcy Gymboree to restructure $1.1 billion in debt in Chapter 11 Children's apparel retailer Gymboree files for bankruptcy Gymboree Files for Bankruptcy , Up to 450 Store Closings Expected Gymboree Goes Bankrupt After Defaulting on Debt; Who's Next? Gymboree Will Close More Than 375 Stores After Filing for Bankruptcy In the wake of Gymboree's bankruptcy filing, here are the retailers that could be next Moody's downgrades Gymboree's PDR to D-PD following bankruptcy filing US retail strain pushes Gymboree into bankruptcy protection
(DBN)

Gymboree bankruptcy raises Fitch US retail loan default rate to 2.7%
(DBN)

J. Crew May Offer a Debt Swap to Buy More Time for Turnaround
(DBN)

J.C. Penney: Picking The Low-Hanging Fruit
(DBN)

The Mall of the Future Will Have No Stores
(DBN)

Retail bloodbath: Bankruptcy filings pile up
(DBN)

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Food/Beverage:

Aldi To Spend $3.4 Billion Making Americans Very Much Richer - Just Like Walmart Did
(DBN)

Sunset Grill parent company files for Chapter 11 bankruptcy protection
(DBN)

Square 1 Burgers files bankruptcy, blames over-saturated restaurant market
(DBN)

Gordon Ramsay asks Chancery Court to dissolve restaurant venture
(DBN)

Marsh auction waiting game continues
(DBN)

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Debt Collection:

High Court Rejects Extension Of Debt Collection Law's Reach High court upholds bank argument on debt collection, as Gorsuch writes first opinion Gorsuch issues first ruling in case defining 'debt collector' Supreme Court: Protections Against Debt Collectors Don’t Apply To Banks That Purchase Defaulted Loans U.S. top court won't expand debt-collection abuse law in Santander case U.S. Supreme Court Holds Debt Purchaser Collecting Its Own Debt Is Not Subject to FDCPA Justices Hand Victory to Debt Purchaser
(DBN)

Why the CFPB’s Decision to Change Course on Debt Collection Rulemaking is a Very Big Deal For CFPB, About Face On Debt Collection?
(DBN)

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Economy:

Here’s what the Fed will signal when it hikes interest rates
(DBN)

U.S. runs budget deficit of $88 billion in May, Treasury says
(DBN)

Larry Summers: The problem with privatization
(DBN)

These Charts Show Just How Small the U.S. Middle Class Is, Compared to Europe's
(DBN)

An economist explains the key issues that Trump needs to address to boost the economy
(DBN)

You're Hired: Trump Plans to Build U.S. Workforce With Apprenticeships
(DBN)

The Amount of Your Compensation Going Toward Benefits Keeps Rising
(DBN)

Treasury Secretary Mnuchin says US can pay its bills through early September
(DBN)

What Trump's Rust Belt Supporters Need to Know This Week
(DBN)

Is Trump Becoming More Friendly To Trade?
(DBN)

Q2 GDP Forecasts
(DBN)

Trump has yet to make his mark on the economy, top forecaster says
(DBN)

Don’t be fooled, Trump’s budget proposal is very much ‘undead’
(DBN)

The Hourly Wage Required To Afford A Two-Bedroom Rental In Each State
(DBN)

Small business sentiment and ‘Brexit’ uncertainty: Here’s what could drive the market Tuesday
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

Why Mortgage Rates are Falling Even As the Fed is Raising Interest Rates
(DBN)

Foreclosure filings see slight uptick in May
(DBN)

Quality Care Properties Seeks Financing To Save Largest Tenant, Abandoning REIT Status
(DBN)

As Retail Outlook Dims, Mall Tenants Push for Shorter Leases
(DBN)

How the Ancient Greeks Solved Their Mortgage Crisis
(DBN)

It’s official: Fannie Mae survey shows it’s a seller’s market
(DBN)

Former employees accuse Colorado mortgage company of widespread mortgage fraud
(DBN)

The 15 hottest housing markets in the U.S.
(DBN)

Mortgages are unaffordable in half of America’s largest housing markets
(DBN)

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Municipalities:

Puerto Rico Shows It's Incredibly Costly to Go Broke
(DBN)

Puerto Rico votes to change its status in hopes of becoming 51st US state
(DBN)

Puerto Rico prepares to sell Congress on statehood
(DBN)

Puerto Ricans skeptical of change after vote for statehood
(DBN)

Puerto Rico's economic crisis remains even as it votes to be 51st state
(DBN)

Puerto Rico votes to be 51st state, but...
(DBN)

Professor: “Congress will not act” on Puerto Rico statehood
(DBN)

Prepa’s RSA approval by oversight board gets yet another extension
(DBN)

Board Proposes Alternative Fast-Track Route to Resolve COFINA Dispute
(DBN)

Illinois’ spiraling debt crisis will hurt poor kids the most
(DBN)

Could Illinois Be the First State to Go Bankrupt ?
(DBN)

Raging Contagion
(DBN)

Are Public Pensions a Thing of the Past?
(DBN)

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Oil/Gas:

U.S. shale-oil output expected to rise by 127,000 barrels a day in July: EIA US shale oil output projected to rise by more than 100,000 barrels a day for a fourth straight month
(DBN)

Oil Prices Are Set To Rebound
(DBN)

"Smallest number of horizontal oil rigs added since January"
(DBN)

Saudis Cut Back Oil Supply To Asia, Slash Exports To U.S.
(DBN)

Oil and gas explorer Penn Virginia taps Jefferies for sale
(DBN)

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Politics:

One of the most alarming moments of James Comey's testimony has gone overlooked Russia investigations update: what’s next for the inquiries that could threaten Trump’s presidency
(DBN)

McCain: 'As far as American leadership is concerned,' Obama is better than Trump
(DBN)

Trump makes bizarre claims at press event as Cabinet members take turns praising him Trump's Supplicants Praise Him in Meeting
(DBN)

Secret Service reportedly has no Trump tapes
(DBN)

Trump supposedly mulling the termination of special counsel Robert Mueller
(DBN)

Overheard conversation earns Conway leaker label
(DBN)

Vast majority of Hill GOP prefers Pence Conservatives in Congress are threatening to hold Trump’s agenda hostage
(DBN)

Gianforte will plead guilty to assault in incident with reporter, official says
(DBN)

After Young Voters Rock Britain, U.S. Watches for the Wave
(DBN)

Trump may not visit the UK this year because he’s so unpopular there
(DBN)

Senate Republicans and Democrats agree on new sanctions against Russia Senate Ties Trump's Hand on Russia Sanctions
(DBN)

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Steel:

Trump's Steel-Trapped Minds
(DBN)

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Corporate Reform:

Trump Administration to Call for Curbs on Consumer-Finance Regulator
(DBN)

The most dangerous part about killing Dodd-Frank
(DBN)

Trump’s reversal of Wall Street regulations risks another Lehman Brothers but ‘on a larger scale’
(DBN)

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Coal:

Glencore's Coal Future Burns Bright
(DBN)

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Maritime:

Rickmers, banking and bullfights; who is next for the sword?
(DBN)

MSC 'actively monitoring situation' with vessels chartered from insolvent Rickmers
(DBN)

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Manufacturing:

Kansas City: CST Industries, Inc. Implements Debt Reduction Plan With Ch. 11 Filing
(DBN)

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Accounting:

Financial Restatements Continue to Decline for U.S. Reporting Companies
(DBN)

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Personal Finance:

How much the average American could be saving at every age
(DBN)

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Aviation:

Not one U.S. carrier made this list of the top 25 airlines
(DBN)

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New Bankruptcy Opinions
(8 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (15 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (17 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:

Weekly Bankruptcy Claims Trading Activity
(DBN)

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Litigation:

Longford Capital Expands Its Capabilities in Bankruptcy and Restructuring with the Addition of Industry Veteran Longford Capital Hires Paul Hastings Lawyer to Source Bankruptcy Deals
(DBN)

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Ch. 13:

BK NV Seeks Comments On Proposed Nevada Chapter 13 Plan
(DBN)

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Bankruptcy Reform:

Senate Bill Would Provide Tax Relief for Bankrupt Farmers
(DBN)

House Passes Legislation Allowing Financial Institutions to Seek Chapter 11 Protection
(DBN)

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Sanctions:

Judge Orders Bankruptcy Court to Consider Evidence of Trustee and Special Counsel Activity when Considering Request for Sanctions
(DBN)

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Avoidance Actions:

Loan Paid Directly from Dept. of Educ. to Penn State Not a Fraudulent Transfer
(DBN)

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Discharge:

The IRS did Not Violate the Discharge Injunction by Collecting a Tax Debt that was Not Discharged
(DBN)

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UST:

Director Clifford J. White III of the Executive Office for U.S. Trustees Testifies Before the House Judiciary Committee Subcommittee on Regulatory Reform, Commercial & Antitrust Law at a Hearing on Oversight of U.S. Trustee Program
(DBN)

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Environmental:

Tenth Circuit Finds CERCLA Contribution Claim Not Barred by Bankruptcy Approval of a Settlement Estimating Liability for the Site
(DBN)

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Banking:

Recent Op-Eds on Bankruptcy for Banks
(DBN)

Do the Financial Institution Bankruptcy Act and the CHOICE Act Undermine an Effective Restructuring of a Failing Financial Institution?
(DBN)

Trump gives banks (a lot of) what they want
(DBN)

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Healthcare:

Iowa Asks U.S. for Obamacare Help Facing ‘Collapse’ of Market Iowa Seeks to Revamp Affordable Care Act Iowa official pitches stopgap health insurance measure Iowa's rickety health-insurance market could be propped up under state's 'stopgap' plan
(DBN)

Before Repeal and Replace, Kentucky Is Dismantling Health Law
(DBN)

Obamacare is in real danger
(DBN)

Trump administration says almost 2 million fewer paying Obamacare customers after bills came due
(DBN)

TrumpCare Bill Finished in Secret ‘We Aren’t Stupid’: GOP Won’t Release Health Care Bill Draft, Report Says
(DBN)

Sens. Murray, Warren Request Probe of Whether Trump 'Undermined' Obamacare
(DBN)

How single-payer went from a pipe dream to mainstream
(DBN)

Almost 30% of People In the World Are Obese or Overweight
(DBN)

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Student Debt:

Help for Home Buyers Burdened by Student Debt
(DBN)

Court smacks down Feds’ attempt to delay ruling on student debt relief for single mom
(DBN)

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Taxis:

Uber CEO's right-hand man, Emil Michael, is out. It's unclear if he was fired or quit Uber’s most scandal-ridden exec is out—and it’s not Travis Kalanick
(DBN)

Why it'll be hard for Uber to fire CEO Travis Kalanick, no matter how bad things get
(DBN)

Uber is Imploding, but Does Anyone Care? The future of $69 billion Uber is in flux with even CEO Travis Kalanick's final fate unknown
(DBN)

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UK:

The Bets Are Being Placed Against Brexit
(DBN)

Jailed former PR guru Max Clifford declares bankruptcy owing £7.5
(DBN)

Lloyds helped HBOS fraudster to buy prime asset cheaply
(DBN)

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EU:

Security Rights and Insolvency Law in the Central and Eastern European Systems
(DBN)

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PIIGS:

Greece puts faith in France to solve bailout impasse France wants 'flexibility' for Greek debt France 'optimistic' about Greek debt deal after Athens talks Le Maire proposes linking debt relief to growth
(DBN)

ECB Said Unlikely to Include Greece in QE in Coming Months
(DBN)

Alitalia is in a life raft, but not sinking just yet
(DBN)

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Canada:

Canadians Have Been Refinancing To Delay Bankruptcy Why a national real estate crash isn’t in the cards
(DBN)

Canada's Provinces Issuing Foreign Debt at Record Pace
(DBN)

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India:

Jaitley: 81 NPA cases flagged for bankruptcy
(DBN)

Millions of Indian Businesses Will Soon Try Something New: Paying Taxes
(DBN)

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MENA:

Qatar Airways reported massive profits — but big trouble is lurking on the horizon Economists' View of Qatar Cutoff Is a Little Scary
(DBN)

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China:

Fugitive Chinese billionaire faces charges in New York
(DBN)

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Lithuania:

It will be more difficult for creditors of an insolvent company to abuse their rights
(DBN)

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Australia:

Plutus calls in administrators over '$130m scam'
(DBN)

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Singapore:

Amendments on laws on Insolvency and Debt Restructuring come into force
(DBN)

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