August 10, 2018

The Daily Bankruptcy News

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Law:

Biglaw Firm Tells Associates They Can Afford To Raise Salaries… But They’re Still Not Going To • Litigation Firm Already Above Salary Scale Moves Even Further Up Salary Scale • New Global Law Firm Touts Itself As Big Player… Gives Out Paltry Raises Anyway • DLA Piper’s regional trainees fume over pay slapdown
(DBN)

The Depressing Secret To Getting Good Law School Grades • Law students less likely to get A’s from professors who are a different gender or race, study finds
(DBN)

After withdrawal of law school admissions test rule revision, will fewer schools accept the GRE?
(DBN)

Don’t Forget To Factor In The ‘Boss Tax’ Before You Accept That Promotion
(DBN)

Opposing counsel’s alleged drone-spying claim and subpoena harassment weren’t stalking, court says
(DBN)

Leaked doc reveals White & Case sending lawyers on coffee dates
(DBN)

ABA Clarifies Rules on Lawyer Advertising (Sort Of)
(DBN)

Carl Icahn Ordered To Resume Deposition in Wachtell Malpractice Case
(DBN)

S.D.N.Y. Bankruptcy Court Declines to Enforce Advance Conflict Waiver Against Winston & Strawn Client, Netflix
(DBN)

Ex-military codebreaker: Hijacker DB Cooper revealed his real identity in hidden messages
(DBN)

Senators take aim at bail industry backers
(DBN)

Is That Lateral Partner a Harasser?
(DBN)

Ex-Morgan Stanley Lawyer Alleges Retaliation After Raising Corruption Concerns
(DBN)

Modern Life: 15 difficult etiquette questions your parents never had to ask
(DBN)

Feeling Obliged to Check Emails at Home Harmful: Study
(DBN)

Judge Threatens to Hold Sessions in Contempt • A judge halted a family deportation — and threatened Sessions with contempt of court
(DBN)

GCs Are Flirting With the Big Four— But They Remain Wary
(DBN)

Manafort Dodged Taxes on $16.5 Million, Jury Told: Trial Update • Judge backs off comments to prosecutors in Paul Manafort trial • Paul Manafort trial day 7: Defense goes into Gates' personal life • Manafort trial Day 7: Gates wraps testimony, tensions flare • Paul Manafort’s Lawyers Attack Rick Gates in Bid to Undercut His Credibility • Cranky judge, flawed witness threaten Mueller’s Manafort case • Paul Manafort’s “second home” was always up on Airbnb • Gates testifies for third day as Manafort's lawyers try to undermine prosecutors' case • A Guide to Covering the Manafort Trial • Donald Trump is beating Robert Mueller in the public relations battle — for now • Did Trump just hint at firing Mueller? • Mueller request signals Gates may still be cooperating • FactCheck: The Law on Collusion • Trump allies zero in on top DOJ official with ties to firm that researched candidate • Rudy Giuliani puts odds of a Trump-Mueller interview at "50-50" • Special master completes review of evidence seized from ex-Trump lawyer Michael Cohen • It Shouldn’t Be This Hard To Protect an Innocent Man
(DBN)

Michael Avenatti on his 2020 presidential ambitions: Democrats have 'yearned for a fighter ... and for many, I’m probably seen as that individual.'
(DBN)

Casey Affleck gave an intensely uncomfortable interview about the #MeToo movement and the allegations of misconduct against him • Lindsay Lohan says that #MeToo accusers are doing it “for the attention” and look “weak” • EEOC Accuses United Airlines of Enabling Pilot's Harassment • Washington Post report alleges abusive behavior by "60 Minutes" producer
(DBN)

Judge orders return of two deported asylum seekers to U.S. • Plane carrying deported mother and child ordered to turn around • Melania Trump's parents were just sworn in as US citizens — and they relied on the same immigration process Donald Trump wants to end • Trump Hates Chain Migration. Except His Own • Migrants are being 'lured to their deaths' because Facebook is not shutting down trafficking pages, says police chief • Trump Praises Texas Lawsuit Against DACA
(DBN)

If We Silence Hate Speech, Will We Silence Resistance? • Don't Ban Alex Jones
(DBN)

Father and Son Caught on Video Killing a Black Bear and Her Cubs
(DBN)

The Satanic Temple is divided over its leader’s decision to hire Alex Jones’s lawyer
(DBN)

Police chief’s son arrested in brutal beating of 71-year-old Sikh man in California
(DBN)

Prison Love Story + Bankruptcy — “Pay My Debt and I Promise To Love You Forever”
(DBN)

Womble Bond Dickinson opens gift shop to celebrate merger
(DBN)

______________

Judges:

BK NH Seeks Temporary Law Clerk
(DBN)

Yes, Even Supreme Court Justices Make Typos
(DBN)

Union for immigration judges files grievance over removal of cases from Philly judge • Immigration judges push back amid concerns over judicial independence
(DBN)

Judge in Manafort Trial Is a ‘Caesar’ in His Own Rome • Is the judge overstepping the Manafort trial? • Manafort Trial: Judge Concedes Fault
(DBN)

Why You Shouldn’t Care Whether Kavanaugh Is an ‘Originalist’ • Some Kavanaugh docs from White House made public
(DBN)

Judge Recently Transferred To New Post For Productivity Issues A No-Show For Part Of Trial
(DBN)

______________

Wall Street:

Dow set to sink at the open as politics, trade woes keep investors on edge • Dow is set to tumble triple digits as Turkey's crashing currency rattles global markets • U.S. stocks pulled into global selloff as Turkey’s currency crisis raises the alarm
(DBN)

FTSE 100 pulled down as Turkey contagion concerns grow • European stocks tumble as ECB raises questions about Turkey contagion
(DBN)

U.S. stocks end lower, with losses for shares of industrials and energy gathering steam into the close
(DBN)

Get rich quick: Americans now see volatile markets as a way to make a profit
(DBN)

Bill Gross’ Current Boss Can’t Believe Anyone Is Paying Bill Gross For Investment Advice These Days
(DBN)

______________

Layoffs:

Oakland Unified may eliminate nearly 340 positions in one year to stay fiscally solvent
(DBN)

Rise Of The Robots: Inside the transformation of Australia's meat industry and the threat to human jobs
(DBN)

______________

Politics:

U.S. senator says Russians have penetrated Florida election systems
(DBN)

Republican candidates are staying away from tax cuts and the economy on the campaign trail, and embracing anxiety instead
(DBN)

Who Helped Trump Most in the 2016 Presidential Election? Nonvoters, Pew Study Says • For Most Trump Voters, ‘Very Warm’ Feelings for Him Endured • A significant minority of Republicans have soured, study finds • Trump’s coalition was broader than you think
(DBN)

US capital ramps up security ahead of white nationalist rally • Charlottesville mayor: Trump "bringing to light" hate in America
(DBN)

Reality contestant turned White House aide secretly taped Trump conversations
(DBN)

Trump-endorsed Kris Kobach's lead in the Kansas governor primary was cut in half after a mistake was discovered in the vote tally • Kobach’s lead in Kansas governor race falls to 91 votes • Kobach Recuses Himself from Vote Count
(DBN)

Laura Ingraham Doesn’t Love Her Country Anymore • People are threatening once again to boycott advertisers on Laura Ingraham's show after she blamed immigrants for the end of the 'America we know and love'
(DBN)

The Democratic Party’s New Litmus Test: Gun Control
(DBN)

Football Season Starts with More Protests • NFL preseason kicks off with scattered protests during anthem • Some NFL players kneel, raise fists ahead of preseason games
(DBN)

GOP Rep. Chris Collins used campaign funds to pay legal bills for insider trading investigations • GOP Rep. Collins' son and son's fiancee bought stock days before getting tip on drug trial, SEC says • Is Congressman Chris Collins Toast? • Congress members on corporate boards? It's legal
(DBN)

America for sale
(DBN)

The Founding Fathers would have impeached Trump in a New York minute
(DBN)

Brutal numbers show how tough it will be for Republicans to keep control of the House this November • How a Blue Wave Could Crash Far Beyond Washington • Dems eyeing smaller magic number for House majority
(DBN)

The US says it’s talking with North Korea ‘virtually every day,’ but they’re getting nowhere • North Korea blasts "shameless and impertinent behavior" from the U.S.
(DBN)

Pelosi is the star of GOP attack ads, worrying Democrats upbeat about midterms
(DBN)

Why California Is Ground Zero in the Battle for Congress?
(DBN)

U.S. Officials Scrambled Behind the Scenes to Shield NATO Deal From Trump
(DBN)

Trump Uses Dinner with C.E.O.s to Claim Chinese Students Are “Spies”
(DBN)

______________

Movie Theaters:

Student-run fund preparing bailout plan for MoviePass, but it may be unwanted
(DBN)

Why Cinemark's $8.99 movie-theater subscription plan might actually be the one that survives
(DBN)

______________

Hedge Funds:

A hedge fund backed by some of the industry’s biggest names, Cerrano Capital, is closing less than a year after it got off the ground
(DBN)

______________

Taxis:

Will New York City’s cap on Uber and Lyft vehicles increase ride prices?
(DBN)

New York City Temporarily Halts More Uber And Lyft Cars On The Road
(DBN)

______________

Hotels:

TIME Nyack investor fights back vs. 'smears' as bankruptcy trustee investigates
(DBN)

______________

Education:

In Expansion, Stockton University Takes Another Bet on Atlantic City
(DBN)

______________

Forensic Accounting:

Baker Tilly merges with US financial investigations firm
(DBN)

______________


Economy:

IMF: Global Trade is Losing Momentum
(DBN)

Consumer inflation could be highest in more than six years, but still not too hot
(DBN)

Weekly Initial Unemployment Claims decreased to 213,000
(DBN)

Fed GDPNow latest forecast: 4.3 percent — August 9, 2018
(DBN)

Trump's trade war is already leading to layoffs and pain for American businesses • Main Street is feeling pain as the trade war wallops farms, Kansas City Fed says • One map shows why Trump's trade war with China could be a disaster for average Americans • A US cargo ship has been drifting off the coast of China for a month — and it shows the real-world effects of the trade war • US and EU begin laying the groundwork for a trade agreement • US Carmakers Hit With Chinese Tariffs • China Holding Up US Built Mercedes SUVs • Boeing, America's biggest exporter, weighs in on tariffs • China drops U.S. crude oil from its target list of tariffs • China paper rebuts trade war criticism, says 'an elephant can't hide' • Japan's prime minister faces 'two unpleasant options' in US trade talks • Scrap that: China's metal recyclers rush to divert or sell U.S. cargoes as tariffs loom • Trump’s Tariffs Are Changing Trade With China. Here Are 2 Emerging Endgames • Top auto supplier Magna takes $60 million hit from tariffs, but CEO still sees 'huge' opportunity • • Cramer Remix: Trade sanctions are hurting hedge funds the most • Everyone Loses from Trade Wars • Trump trade policies changing North American supply chains • Chinese exports flood into U.S.; importers rush to fill orders ahead of tariffs • Despite Tariffs, U.S. Soy Is Still Headed to China. Here’s Why • GOP Chair to Trump: Explain Tariff Exclusions
(DBN)

Uncertainty over NAFTA hasn't stopped Mexico's car manufacturing cities from thriving • Canada ready to show flexibility in NAFTA talks: MacNaughton • Mexico’s Guajardo says ‘a lot’ of work done through night on NAFTA
(DBN)

Brexit and Trump's trade war are not enough to bring about the end of globalization
(DBN)

Most Americans aren't prepared for retirement — here's how much people have saved at every age
(DBN)

Trump Voters Aren't Seeing the Job Gains He Promised
(DBN)

Why your wages aren't growing
(DBN)

Here’s a conservative economist who doesn’t think Trump fixed everything
(DBN)

It looks like it's not just crushing student loans holding millennials back anymore — it's also their aging parents
(DBN)

CBO: Deficits Unsustainable • The US Deficit is Up 20% This Year
(DBN)

America's rapid march to energy independence has slowed under Trump • Trump is preparing to Nix Obama-era Light bulb Rules
(DBN)

Millennials are still crashing with their parents despite the strong economy
(DBN)

Koch Survey: We Like $15 Wage, Health Care
(DBN)

Sheila Bair on What Hasn’t Changed Since the Great Recession
(DBN)

Merrill: The Return of the Political Business Cycle
(DBN)

Republicans propose reallocating Coast Guard ship funding to Trump's border wall
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

Housing affordability reaches 10-year low
(DBN)

Real Estate Sales Free and Clear of Unexpired Leases Under § 363(f)
(DBN)

Who Owns a Home in America, in 12 Charts
(DBN)

Housing market has hit a ‘significant slowdown’ in recent weeks, Redfin CEO says
(DBN)

Puerto Rico: 1,427 more deaths "than normal" in the wake of hurricanes
(DBN)

Here’s why millions of millennials are not interested in being homeowners
(DBN)

Mortgage rates dip after a weak jobs report
(DBN)

4 signs you're about to pay more than a house is worth
(DBN)

The impending L-train apocalypse has rents in Williamsburg plunging
(DBN)

The U.S. is about to add even more cities with a median home value of $1 million
(DBN)

____________

Municipalities:

Puerto Rico just quietly conceded that Hurricane Maria killed over 1,300 more people than it originally estimated • Puerto Rico Hurricane Deaths 20 Times Higher
(DBN)

Puerto Rico's Biggest Bond Challenge Is Yet to Come
(DBN)

For Puerto Rico, Dream of Financial Recovery Masks Grim Reality
(DBN)

Puerto Rico Estimates It Will Cost $139 Billion To Fully Recover From Hurricane Maria
(DBN)

Why the COFINA deal isn’t a sure thing
(DBN)

Insurers get a lift as investors cheer Puerto Rico bond settlement
(DBN)

When Mapping the Many Disparities in Chicago, It Can Feel Like It’s the Same Story Being Told
(DBN)

______________

Oil/Gas:

US sanctions against Iran could make maintaining the world's oil supply 'very challenging,' IEA says
(DBN)

U.S. oil reserve release will not guarantee lower pump prices: analysts
(DBN)

Canadian Oil Crisis Continues As Prices Plunge
(DBN)

China tariffs create headache for next wave of US natural gas export projects
(DBN)

______________

Celebs:

Angelina Jolie rips Brad Pitt in their latest divorce fight: 'A loan is not child support'
(DBN)

These 'Shark Tank' Contestants Went Bankrupt
(DBN)

Multi-Billionaire Henry Nicholas Arrested After Being Caught With Suitcase Full Of Drugs And Unresponsive Girl In Vegas Hotel
(DBN)

Charlie Sheen Says He's In A "Dire Financial Crisis" With "Less Than $10M To His Name"
(DBN)

______________

Retailing:

Retail stocks just hit record highs, but one market watcher says the rally is at a crossroads
(DBN)

Toys ‘R’ Us bankruptcy leaves retailers anxious to pick up the slack
(DBN)

Filing Alert: Samuels Jewelers Files… A “Chapter 44”?!
(DBN)

______________

Hotels:

Stalled Palm Beach hotel could be auctioned in bankruptcy; SEC sues developer
(DBN)

Hotels: Occupancy Rate Increased Year-over-Year
(DBN)

______________

Student Debt:

Expect These 7 Student Loan Changes In 2018
(DBN)

______________

Furniture:

Why Casper wants to open 200 stores
(DBN)

Mattress shoppers are buying online. That's hurting retail stores in a big way.
(DBN)

______________

Footwear:

Crocs to close all manufacturing plants • Crocs will outsource its manufacturing and close some unsuccessful stores
(DBN)

______________

Entertainment:

Weinstein Co. Reaches $2.5M Settlement With DVD Distributor Once Run by Steve Bannon
(DBN)

______________

Climate:

Thanks to El Niño, a 'below-normal' 2018 Atlantic hurricane season is now expected
(DBN)

California is using prison labor to fight its record wildfires • Fire chief: Suspect in Holy Fire that put 20,000 under evacuation order texted, 'The place is going to burn'
(DBN)

The Arid West Moves East, With Big Implications For Agriculture
(DBN)

______________

Religion:

Abuse victims to vote on Archdiocese bankruptcy plan
(DBN)

Abuse victims break their silence ahead of Pa. diocese report
(DBN)

Why South Carolina is abandoning its churches
(DBN)

______________

Healthcare:

US opioids: number of addicted women giving birth quadrupled over 15 years
(DBN)

TX AG Wants To Get Rid Of Pre-Existing Conditions Coverage
(DBN)

Netflix, but for prescription drugs
(DBN)

Trump administration's ultimatum for accountable care organizations
(DBN)

Woman pregnant with twins at age of 67 defies doctors’ advice
(DBN)

______________

Transit:

Ghost Bikes, Infrastructure of Grief
(DBN)

NY: Get ready for a commuter apocalypse
(DBN)

______________

Consumer Finance:

LendingClub beats Wall Street estimates but net loss widens
(DBN)

______________

Commodities:

Noble announces restructuring plan to end 3-year crisis
(DBN)

______________

 
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 (15 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (8 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)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Jobs:

(1) • (2) • (3) •(4)• (5) • (6) • (7) • (8)
(DBN)

Seminars - (Contact us to list your seminar)

______________

Bankruptcy Statistics:

Bankruptcy is increasingly a rite of passage for America's seniors. It doesn't have to be this way.
(DBN)

______________

Claims Trading:

Claim Trading Industry: Pay Attention to Anti-Assignment Provisions!
(DBN)

______________

Discharge:

Difference Between “False Pretense” and “False Representation” under 523(a)(2)
(DBN)

______________

Sales:

Successor Liability After Bankruptcy Sales: Actual Knowledge v. Constructive Notice, at U.S. Supreme Court
(DBN)

______________

Trustees:

BK ED PA Seeks Ch. 13 Trustee
(DBN)

______________

Administrative Claims:

Delaware Court Denies $60 Million Administrative Expense Claim in the EFH Case
(DBN)

______________

Autos:

Reagor-Dykes Auto Group asks court to allow third party to investigate actions of former CFO, owners • Communities waiting to see what happens in Reagor Dykes legal case • New documents request restructuring officer for RDAG, list former CFO as key person
(DBN)

Elon Musk’s flawed plan for Tesla shareholders • A deal to take Tesla private probably won't come from Wall Street or Silicon Valley • SEC reportedly 'intensifying' examination of Tesla after Elon Musk tweets about taking the company private • Tesla is now worth less than it was before Elon Musk’s $420 tweet • Tesla appears to be on a hiring spree in the US and in China two months after laying off 9% of its employees • Tesla board plans to tell Elon Musk to recuse himself, prepares to review take-private plan • Moody's says Musk's plan to take Tesla private could hurt its credit rating • Here’s what the junk-bond market says about Tesla going private • Tesla board plans to tell Elon Musk to recuse himself, prepares to review take-private plan
(DBN)

Nearly 100% of Teslas stolen in the U.S. since 2011 have been recovered
(DBN)

Texas Unveils Plan for VW's $209M Fine
(DBN)

Latest Equifax data reflects depth of subprime volume slowdown
(DBN)

______________

Musical Instruments:

Bankrupt Gibson looking for a new CEO?
(DBN)

______________

Electricity:

Lafayette firm owned by former River District developer files for bankruptcy protection
(DBN)

______________

Food/Beverage:

Union fights for Tops employees with new 401(k) proposal
(DBN)

______________

Mass Torts:

Donald Trump has a weird soft spot for asbestos • EPA Blames Obama Administration for Asbestos Plan
(DBN)

______________

Marijuana:

More Law Firms Rolling With Cannabis Ventures
(DBN)

______________

Newspapers:

A Flourishing Region, A Withered Paper: Denver Post's Run Of Bad News
(DBN)

______________

Personal Finance:

Doing these things on social media could cost you that job you want
(DBN)

______________

Aviation:

Ryanair cancels 400 flights as pilots strike in 5 countries
(DBN)

______________

Travel:

New airline rules haven’t stopped an increase in pets, including emotional-support animals
(DBN)

Mom Jailed for Drinking One Glass of Wine on Flight to Dubai
(DBN)

______________

UK:

Ireland's Henderson family agrees purchase of 50 Poundworld stores
(DBN)

Katie Price ‘spends thousands on online shopping habit’ amid bankruptcy woes
(DBN)

Homeless people wearing barcodes to accept cashless payments
(DBN)

Both Sides of Brexit Finally Agree: This is a Joke
(DBN)

One of the UK's biggest department stores collapsed — but was almost immediately rescued by a billionaire sports tycoon • Sports Direct acquires Sports Direct in £90m takeover • Sports Direct buys House of Fraser out of administration
(DBN)

U.K. growth outpaced eurozone's in second quarter
(DBN)

U.K. construction output rises 0.9% in Q2
(DBN)

U.K. GDP rises 0.4% in Q2, meeting expectations
(DBN)

______________

Canada:

New Judgment Clarifies When Bankruptcy Debt May Be Declared Non-Releasable
(DBN)

______________

MENA:

Saudi Students Fret Over Future After Order to Leave Canada • Saudis: Fight w/ Canada Won't Block Oil Sales • Canada asks for help in Saudi dispute • Saudi Arabia Starts to Weaponize Its Wealth • Saudi Arabia's explosion at a Canadian tweet shows how rules have changed • Morneau: Canadian government not considering retaliation against Saudis
(DBN)

Israel Launches Scores of Airstrikes on Gaza • Hamas and Israel reportedly reach ceasefire after violent exchange near Gaza left 3 dead
(DBN)

Iran Sanctions May Mess Up World's Oil Supply
(DBN)

Airstrike hits bus full of children reportedly on field trip
(DBN)

______________

India:

How do insolvency resolution professionals balance stakeholders’ interests?
(DBN)

Sigh of relief for debt-ridden Indian airline sector; government may allow external funding
(DBN)

Hope for homebuyers in Supreme Court's ruling on Jaypee Infratech
(DBN)

India arrests former Bhushan Steel MD over alleged fraud
(DBN)

______________

Malaysia:

Goldman Sachs under U.S . scrutiny in Malaysian fraud
(DBN)

______________

Russia:

Russia: US sanctions over Novichok are 'economic war,' and all options are on the table to hit back • U.S. sanctions take heavy toll on Russian stocks and ruble
(DBN)

Russian Arbitration Court Recognizes Bitcoin as Asset in Bankruptcy Case
(DBN)

______________

Australia:

HSBC Australia's General Counsel placed under supervision
(DBN)

______________

Venezuela:

U.S. Judge authorizes seizure of Venezuela’s Citgo
(DBN)

______________

Turkey:

Turkey's Currency Nosedives on Economic Concerns, US Dispute
(DBN)

If Turkey implodes, here's who else gets hurt
(DBN)

ECB worries that some European banks may be too exposed to Turkey: report
(DBN)

Turkey fated to pick worst of its bad options
(DBN)

Turkish lira sinks to an all-time low amid tensions between Washington and Ankara • The Turkish lira is sinking so fast it risks 'smashing into the ground' — and it could take the euro with it • Lira collapses as Erdogan tells Turks: They have 'their dollars,' we have 'our god'
(DBN)

______________

Japan:

Japan's economy grew more than expected in the second quarter, but trade risks loom
(DBN)

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