February 28, 2018

The Daily Bankruptcy News

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Law:

The Death of the Law Firm Partnership Vote?
(DBN)

Billing Rate Gap Widens as Big Firms Demand Ever-Higher Premiums
(DBN)

Dentons adds bankruptcy partner in New York
(DBN)

Attorney General Attacks Courts • Jeff Sessions on 2nd Circuit's LGBT Ruling: Judges Must Have 'Read the New York Times'
(DBN)

How Long Should a GC Stay at the Same Company in Today's Market?
(DBN)

Venable Keeps Up Steady Growth as Revenue, Profits Rise
(DBN)

Women Take a Pass on the Big Law Brass Ring
(DBN)

Despite Dip in Head Count, Cahill Posts Profit Highs
(DBN)

From 700 Law Firms to 7: Avis' Changed Approach to Legal Work Has 'Saved Millions'
(DBN)

Lawyers, Developers Team Up in Hackathon to Revamp Legal Industry
(DBN)

Ex-Bryan Cave Lawyer Convicted of Fraud in Maxim Deal Is Disbarred
(DBN)

Disentangling Ethics and the Law: What's Legal Isn't Necessarily Ethical
(DBN)

Mueller just made a move indicating Rick Gates has something of significant value to offer him • Mueller moves to drop more than 20 criminal counts against former Trump campaign official Rick Gates • 'We got Bannoned!': Hope Hicks testified before the House Intel Committee in the Russia investigation • Hope Hicks Claims Executive Privilege • Paul Manafort Was Stupid or Unlucky. Most Money Launderers Get Away With It. • NSA chief: Trump hasn't given command to stop Russian cyber threat • President renews criticism of Russia investigation as ‘witch hunt’ • Fox’s Shep Smith blasts Trump for calling Russia probe a ‘witch hunt’ as Kremlin’s next attack is ‘just months away’ • US hasn't deterred Russian meddling, top intel official says • Russia Election Meddling to Get Worse • Intel community reportedly didn't tell 7 states that Russia compromised websites, voting databases • Kushner may have broken law with Trump campaign statement, ethics group says • Why the Russia Investigation Could Be More Like Iran-Contra Than Watergate • Republicans Don’t Want to Know If Trump Colluded With Russia • Roger Stone's Secret Messages with WikiLeaks
(DBN)

'The NRA uses UPS': FedEx doubles down on its NRA ties by shifting focus to one of its biggest rivals • FedEx says it won’t cut ties with NRA despite public pressure • FedEx, UPS Trade Barbs Over NRA Ties in Wake of Florida Shooting • The no-win corporate tightrope • Georgia Republicans are stuck in a philosophical crisis on taxes amid the battle between Delta and the NRA • Georgia Republicans are crossing an ethically murky line by threatening Delta over its NRA boycott • Georgia Tries Extortion Against Delta Airlines • Online outrage after Georgia lawmaker threatens Delta state tax break over its NRA position • The father of a Parkland school shooting survivor admits to altering an email exchange with CNN and shopping it to other media outlets • Updated: A shooting survivor, CNN and a 'scripted' question Updated: A shooting survivor, CNN and a 'scripted' question • How Student Survivors Are Fueling a Gun-Control Movement • Nikolas Cruz hired lawyer in December to help him claim $800,000 inheritance • Could credit-card companies ban gun sales? • US Senate Democrats push for 'universal' gun background check bill • Kentucky school district to let teachers carry concealed guns • States with strict gun laws have fewer firearms deaths. Here's how your state stacks up • The state of play in the movement for gun control • Paul Ryan Blames Law Enforcement • Infowars receives second strike from YouTube over Parkland conspiracy • For the first time since Columbine, most Americans believe mass shootings can be stopped • The Florida gunman's AR-15 reportedly jammed during the shooting, and he had 180 more rounds left • Cruz Refused Mental Health Services He'd Been Receiving After Turning 18 • What Critics Don't Understand About Gun Culture
(DBN)

Navigating the #MeToo World: Practical Advice for Corporate Board Members and Executives • Young single Americans are tired, confused and scared about dating during #Metoo • Lewinsky: It Was a Gross Abuse of Power • Jeffrey Tambor's Ex-Assistant and Accuser Breaks Silence: "He Has Done This to Himself" • A woman says she had Steve Wynn's child after assault: AP, citing police reports
(DBN)

Federal judge rules DHS can't randomly revoke DACA protections • SCOTUS rules detained immigrants not entitled to bond hearings
(DBN)

A wild dispute between a Panamanian hotel owner and the Trump Organization could have huge implications for the president • Brawl at Trump Hotel Panama Brings Police
(DBN)

11 people sickened after suspicious letter opened at Ft. Myer near D.C.
(DBN)

Narcissists often recruit people called 'apaths' to help with their games — here's why they're dangerous
(DBN)

Trump Wins While Losing in Florida Golf Club Dispute
(DBN)

Apparently Stan Lee Was Robbed For $1.4 Million
(DBN)

Man with red sauce on face charged with meatball theft
(DBN)

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Judges:

U.S. judge slammed by Trump rules in favor of border wall
(DBN)

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Wall Street:

U.S. stocks look set to bounce back after Powell-fueled selloff
(DBN)

Fed's Powell sends world stocks reeling to a five-day low to end a turbulent February
(DBN)

Asian shares poised to slip following Fed Chair Powell's testimony
(DBN)

Stock markets close in the red after Fed's Powell sees strength in U.S. economy • Dow falls nearly 300 points as Powell fails to calm rate-hike concerns • All 11 primary S&P 500 sectors end down on the day
(DBN)

One of the market's most outspoken bears is getting destroyed as he waits for a crash
(DBN)

If the stock market can’t make a new high, that’s a bad omen
(DBN)

New Fed chair doesn't believe ETFs had a part in the market correction
(DBN)

Executives aren't buying their company's shares after market correction
(DBN)

Goldman Sachs just shattered a myth about how higher rates affect stocks
(DBN)

Americans Trim Expectations for Stock Gains
(DBN)

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Layoffs:

Centerplate slashes 759 Santa Clara jobs
(DBN)

Fluor Corp. lays off 85 employees in Poughkeepsie
(DBN)

SandRidge Energy Announces Layoffs Of 80 Employees
(DBN)

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Currency:

Bill Gates is not a fan of cryptocurrencies
(DBN)

Shoppers would welcome an Amazon cryptocurrency, survey says
(DBN)

Goldman Sachs investment chief: Bitcoin is definitely a bubble, Ethereum even more so
(DBN)

Bitcoin 'creator' slammed with $5 billion lawsuit
(DBN)

Steve Wozniak had $70,000 in bitcoin stolen after falling for a simple, yet perfect, scam
(DBN)

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Autos:

GreenTech, the electric car company once led by McAuliffe, files for bankruptcy
(DBN)

Court Rules Cities Can Ban Vehicles to Tackle Air Pollution
(DBN)

Australia issues compulsory recall of Takata air bags
(DBN)

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Radio:

iHeart Investors Seeking Injunction to Protect Their Debt Seniority
(DBN)

Liberty Media Corp. makes play for iHeartMedia as radio company nears bankruptcy
(DBN)

Radio daze
(DBN)

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Chemicals:

New Chapter 11 Filing - Fibrant LLC
(DBN)

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Electricity:

After rising for 100 years, electricity demand is flat. Utilities are freaking out.
(DBN)

The $9.45 billion Oncor-Sempra deal is now in the hands of Texas regulators
(DBN)

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Personal Finance:

To a billionaire, the cost of a trip to Bali is like buying a candy bar — here's what spending looks like when you're that rich
(DBN)

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Fraud:

Fraud Trial of Former Autonomy CFO Kicks Off With Competing 'Cadillac' Metaphors
(DBN)

Executives of bankrupt Berjac of Oregon sentenced to 6 years in prison for $40-million Ponzi scheme
(DBN)

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Retailing:

Retail stocks jump after Macy's and Dillard's earnings announcements
(DBN)

Macy's blockbuster quarter was costly for traders guarding against the retail apocalypse • Macy's Would Like to Remind You It's Not Quite Dead Yet
(DBN)
(DBN)

Macy's just confirmed the end of department stores as we know them
(DBN)

Toys ‘R’ Us Is in Talks to Sell Its Asia Unit to a Local Partner
(DBN)

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Economy:

The new Fed chair just made his first public statements — and traders don't like what they heard • Fed is raising interest rates but your savings account won’t benefit, Powell admits • New Fed chair Jerome Powell sees little risk of a recession • Powell: Semiannual Monetary Policy Report to the Congress • Jerome Powell: Economic Outlook Has Improved Since December • Powell’s first faux pas came quick • House Democrats keep going after Fed Chair Powell for Trump's policies • Powell: Fed members will be taking another look at rate projections • Republicans are from Mars, and Democrats from Venus, judging by questions they asked Powell • Rep. to Powell: 'Do you know when you sneeze, Wall Street crumbles?' • GOP Rep. Hensarling gives Fed Chair Powell a positive review • Six Quick Takeaways From Powell's Testimony
(DBN)

Janet Yellen thought Greenspan's 'irrational exuberance' speech would put people to sleep
(DBN)

Ex-Fed chief Yellen casts doubt on raising 2% U.S. inflation target
(DBN)

Forget inflation — worry about what happens when this ‘Goldilocks’ era ends, says Ray Dalio
(DBN)

GDPNow: Latest forecast: 2.6 percent
(DBN)

Richmond Fed: District Manufacturing Firms Reported Robust Growth in February
(DBN)

Consumer confidence reaches 17-year high
(DBN)

Trump’s new tax law is stressing out and confusing Americans • Bank income tumbles as tax law takes a bite: FDIC • N.J. Senate Passes Bill To Count Property Taxes As Charity To Sidestep Federal Law • Most Houston firms will use tax savings to pay debts, boost investments • Express Scripts to pay workers tax cut bonuses of $500 to $2,000
(DBN)

The Washington Consensus on global economic policy is dead
(DBN)

The No. 1 company in America for pay and benefits is …
(DBN)

Here's how much you need to earn to be a 1 percenter
(DBN)

Cornyn: Maybe No Infrastructure Bill This Yr.
(DBN)

How Kentucky bourbon, Harley-Davidsons and other US products could be targets in a spat over tariffs
(DBN)

Tooth Fairy payouts were down 11% in 2017
(DBN)

Trump's Worst Economic Idea
(DBN)

Trump’s Economic Gamble Might Actually Make Sense
(DBN)

The 19 US states where young people are moving in, jobs are plentiful, and business is booming
(DBN)

Why Yes, Many Debt-Ridden Millennials Would Choose Money Over Love
(DBN)

Debt-Conscious Millennials Are a Threat to Credit Cards
(DBN)

‘Amazon Effect’ Is Hiking Pay and Fueling Land Rush in U.S.
(DBN)

Being Too Rich Can Hurt Your Chances at Happiness
(DBN)

Go west, young worker! (Or maybe south) : Examining 40 years of internal U.S. labor migration
(DBN)

The states where Americans have the best quality of life, ranked from lowest to highest
(DBN)

Is The Market's Debt Spree Reaching Its Climax?
(DBN)

Trump won a judge's permission to build a border wall with Mexico. Now he just needs the money
(DBN)

Disneyland Workers Struggle to Pay Bills
(DBN)

Why 'Deaths of Despair' May Be a Warning Sign for America
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

The new housing crisis is so bad that a growing number of buyers are rushing to bid on places they've never seen
(DBN)

Freddie Mac: Mortgage Serious Delinquency Rate Decreased Slightly in January
(DBN)

Mortgage applications rise 2.7 percent as rates take a brief breather from surge
(DBN)

Home prices accelerated in December, Case-Shiller shows • Home prices surge 6.3% in December amid critical housing shortage • Case-Shiller: National House Price Index increased 6.3% year-over-year in December
(DBN)

Kushner in Talks to Buy Back Vornado Stake in 666 Fifth Ave.
(DBN)

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Municipalities:

US Treasury Slashes Puerto Rico $4.7 Billion Disaster Relief Loan • Treasury cuts Puerto Rico's disaster relief loan to $2B
(DBN)

Puerto Rico Criticizes Treasury’s ‘Misguided Delay’ in Loans
(DBN)

The Hurricane Refugees of Amish Country
(DBN)

The Pact Changing How Governments Respond to Disaster
(DBN)

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Oil/Gas:

Oil ends lower on bets for growth in U.S. crude supplies
(DBN)

Israel to Ban Coal, Gas and Diesel by 2030
(DBN)

Forecasts for Oil Prices Rise for Fifth-Straight Month
(DBN)

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Politics:

Trump strikes $3.9 billion deal for two presidential Boeing 747s — here's a look back at the incredible history of Air Force One • A doctor, 2,000 meals and 85 phones: Air Force One is loaded with amenities
(DBN)

Meet Trump's favorite senator — the man he calls before dawn and after midnight and has given one of his 'highest accolades'
(DBN)

Election Meddling: Russia and America Aren't Morally Equivalent
(DBN)

Blumenthal, Grassley want answers on clearances from FBI and WH • Jared Kushner Loses Access to Top Secret Intelligence • At least 4 countries have privately discussed ways they can manipulate Jared Kushner
(DBN)

Scaramucci says White House morale very low, Kelly should resign
(DBN)

Obama indirectly smacks Trump’s White House in ‘off-the-record’ speech
(DBN)

Trump taps ‘digital guru’ to run 2020 re-election campaign • Facebook says Trump paid more than Clinton to reach users during 2016 campaign • Trump Campaign Chief Lends Name to Penny Stock Tied to Felon
(DBN)

Special House election is a dead heat in a Pennsylvania district Trump won by 20 points
(DBN)

Sen. Bob Corker will retire, after all
(DBN)

Melania Cuts Ties with Newly Rich Friend
(DBN)

Trump family v. John Kelly
(DBN)

HUD spends $31,561 on a dining room set for Secretary Ben Carson's office
(DBN)

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Biofuels:

No deal reached after White House biofuels meeting • Trump’s energy and farm supporters brace for battle as corn-state senators reject biofuels overhaul
(DBN)

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Aviation:

New Delaware Chapter 11 Filing – Jet Midwest Group, LLC
(DBN)

Trump's plan to privatize U.S. air traffic control lacks support: Congressman
(DBN)

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Pensions:

Public Pensions (Long Slow-Burning Crises?)
(DBN)

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Hedge Funds:

U.S. hedge fund Magnolia Road shuts down after struggling to raise capital
(DBN)

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Hotels:

Owners of Maine inns will file for bankruptcy to avoid foreclosure auctions
(DBN)

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Credit Unions:

Bankruptcy Straight-Talk for Credit Union Members
(DBN)

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Solar:

Trump Claims Solar Tariffs Are ‘Reopening Plants.’ Only They Aren’t
(DBN)

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Entertainment:

Weinstein Co. Is Still Open to ‘Transactions of All Types’
(DBN)

Weinstein empire unravels amid scandal
(DBN)

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Food/Beverage:

Humpy's restaurant group files for bankruptcy protection
(DBN)

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Marijuana:

Marijuana Dispensary Tenant in Chapter 13 Debtor’s Commercial Property – Sua Sponte Dismissal Valid?
(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 (18 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (14 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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Safe Harbors:

Opinion analysis: Justices reject limits on bankruptcy recovery of fraudulently transferred assets
(DBN)

US Supreme Court bankruptcy ruling reignites $8 billion Tribune case
(DBN)

High Court Won't Limit Asset Recovery in Bankruptcy Cases
(DBN)

Seventh Circuit Victorious Again in Merit Mgmt
(DBN)

Justices Limit Ch. 11 Safe Harbor For Securities Clawbacks
(DBN)

Not So Safe Anymore: SCOTUS Narrowly Construes Safe Harbor for Avoidable Transfers
(DBN)

US Supreme Court Addresses Safe Harbor Under Bankruptcy Code
(DBN)

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Mass Torts:

With judge's approval, insurers are looking for double-dipping in case they're forced to pay for asbestos claims
(DBN)

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Plan Confirmation:

Lenders Beware: The 9th Circuit Dilutes Voting Power in Multi-Debtor Cases
(DBN)

Chapter 11 Plan for a Group of Debtors May Be Confirmed if Approved by Creditors of a Single Debtor
(DBN)

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Mediation:

“Vital” Role of Mediator: Tony Blair and the Northern Ireland Peace Process
(DBN)

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Discharge:

Bankruptcy court holds that state consumer fraud claims against corporations are dischargeable in bankruptcy
(DBN)

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Appeals:

First Circuit Holds that Asset Sale Appeals Are Moot Notwithstanding Jevic Violation
(DBN)

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IP:

Treatment of IP Licenses in Bankruptcy
(DBN)

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Professional Compensation:

US Trustee Files Motion Against Lawyer’s Fees in Chapter 7 Case
(DBN)

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Healthcare:

$1 billion opioid bill would limit prescriptions to 3 days
(DBN)

Washington’s opioid response accelerates
(DBN)

The opioid epidemic is costing the U.S. more than $500 billion per year
(DBN)

State Health Policies Show Stark Divide Along Party Lines
(DBN)

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Pharma:

AG Sessions announces opioid task force targeting drugmakers who fuel painkiller epidemic
(DBN)

The growing number of lawsuits against opioid companies, explained
(DBN)

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Travel:

American's planes are getting a makeover in a bid to drive revenue higher
(DBN)

How to pack light for travel—you’ll be glad you did
(DBN)

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Celebs:

50 Cent Denies Owning Bitcoins • Turns out 50 Cent isn’t a surprise bitcoin millionaire after all • 50 Cent now denies bitcoins worth millions in bankruptcy papers • 50 Cent Swears In Bankruptcy Court That He Didn't Make Any Money From Bitcoin
(DBN)

'American Chopper' Star Paul Teutel Sr. Files for Bankruptcy
(DBN)

Lisa Marie Presley joins list of celebrities who’ve lost nearly everything • Lisa Marie Presley Is $16 Million In Debt
(DBN)

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Corporate Reform:

Here’s the staggering amount banks have been fined since the financial crisis
(DBN)

Oscar-nominated documentary tells amazing story of the only U.S. bank to be prosecuted after the financial crisis
(DBN)

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Amusement Parks:

SeaWorld CEO ousted as loss widens
(DBN)

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Guns:

Cerberus Hands Bankrupt Gunmaker to Wall Street Creditors
(DBN)

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UK:

Former Carillion FD warned of "sloppy accounting"
(DBN)

RBS staffing shows turnaround unit "merely" rebranded says UK lawmaker
(DBN)

Toys R Us and Maplin face collapse with 5500 jobs at risk • 5,000 jobs at risk as Maplin and Toys R Us go bust — and Maplin blames Brexit • Toys R Us goes into administration in Britain, putting 3,000 jobs at risk • Toys R Us UK goes into administration following wave of US closures • 3,000 jobs at risk as Toys 'R' Us collapses in UK
(DBN)

Theresa May is ready to reject the EU's Brexit divorce deal over Irish border demands • The EU is to call for Northern Ireland to remain wedded to customs union and single market rules after Brexit
(DBN)

Prezzo to close 100 restaurants amid high street turmoil
(DBN)

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Canada:

The Biggest Long-Term Opportunity May Lie in Canada’s Unloved Oil Sands
(DBN)

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Croatia:

Croatian Appoints New Crisis Manager at Troubled Agrokor
(DBN)

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Australia:

Australia's largest companies haven't paid corporate tax in 10 years
(DBN)

Scott Taylor's failed Perth restaurants 'insolvent for years'
(DBN)

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India:

How jury is still out on IBC verdicts
(DBN)

Reserve Bank of India's Endeavour to Tackle Stressed Assets Continue
(DBN)

Aircel, country's last small mobile phone operator, files for bankruptcy
(DBN)

U.S. Bankruptcy Case Has Link to India’s Growing Bank Fraud Scandal
(DBN)

India's biggest bank scam could swell to $2 billion
(DBN)

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MENA:

Islamic finance and insolvency: Growing need for a safety net
(DBN)

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Venezuela:

Venezuelan Inmates Eating Rats to Survive
(DBN)

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Bulgaria:

Trial begins over major Bulgaria bank collapse
(DBN)

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China:

Chinese manufacturing activity hits 19-month low in February
(DBN)

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Hong Kong:

Noble Group Posts $4.9 Billion Loss, Warns on Outlook • Noble Group Perpetual Holders Unite to Oppose Restructuring
(DBN)

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