January 12, 2018

The Daily Bankruptcy News

View prior editions: Click Here
View prior case summaries: Click Here
Search prior headlines: Click Here
Search prior case summaries: Click Here

3-Column Formating

 

Law:

New Warning For Biglaw Firms — Not That They’ll Listen Anyway
(DBN)

What Does Baker Hostetler Have to Do With the Fusion GPS Controversy?
(DBN)

How Outside Companies Are Taking Over In-House Legal
(DBN)

Federal Judge Green-Lights Insurer's Suit Against Schiff Hardin for Failure to Convey Settlement Offer
(DBN)

Lawyer agrees to censure for padding internal billing records to look busy
(DBN)

Lawyer is accused of demanding $50K, the amount owed in ethics case, during attempted bank robbery
(DBN)

Bannon hires a lawyer as he's dragged into the Russia investigation Steve Bannon Turns to Quinn Emanuel's Burck Amid Russia Probe Quinn Emanuel Racks Up Another (Former) Trump Administration Client: Steve Bannon Mueller has not requested interview with Pence Indicted Trump Adviser Is Being Sued by a Russian Billionaire Robert Muller Has A Secret Power Trump alleges that the FBI agent Mueller ousted committed 'treason' by sending anti-Trump texts Trump says there was 'no obstruction' and that he 'should be given credit' for firing Comey
(DBN)

President Trump said he'd prefer immigrants from Norway over "s------- countries" Trump: 'Why are we having all these people from s------- countries come here?' ‘This is straight up racist’: CNN panel crushes Trump on remark Trump's remark galled south Florida in particular Why Trump Can't Understand Immigration From S------ Countries Trump's 's-------' comment gives up his game on immigration South Africa calls Trump's comment 'extremely offensive' GOP Sen. Jeff Flake says bipartisan senators have reached immigration deal — but others are skeptical New DACA Deal Includes Trump's Priorities A Tentative DACA Deal in the Senate White House, GOP leadership not sold on bipartisan immigration deal House Republicans' immigration proposal goes beyond Trump's vision Who’ll Blink First in the Border Wall Standoff? GOP negotiators say Trump aide Stephen Miller is standing in the way of an immigration deal Poll: 86% of Americans want Dreamers to stay in U.S.
(DBN)

Feds Raid US Maternity Hotels for US Babies
(DBN)

FBI scrutinizes funeral home with side business: Selling body parts
(DBN)

NYC: Man Robs 81-Year-Old, Then 4-Year-Old 8 Minutes Later In Broad Daylight
(DBN)

Woman accused of damaging lawyer’s Warhol paintings could get life sentence if convicted
(DBN)

The Answer To The Question ‘How Much Money Can You Steal From Clients Before Getting Caught’ Is A Terrifyingly High Number
(DBN)

Prominent Supreme Court Lawyer Jumps From Kirkland & Ellis To Quinn Emanuel
(DBN)

Passerby Notices ATM Mugging In Progress, Knocks Robber Out Cold
(DBN)

______________

Judges:

2 New Mexico judges sue state judicial commission to obtain secret courthouse recordings
(DBN)

TX Judge Accused of Forgery
(DBN)

______________

Wall Street:

Dow futures jump 100 points as dollar sags
(DBN)

Dow spikes 205 points to record close , led by Boeing
(DBN)

A 10 to 15% stock market correction is virtually unavoidable, Blackstone's Byron Wien warns
(DBN)

Trump says his physical better go well or the stock market will not be happy
(DBN)

______________

Layoffs:

Carrier Employees, Soon to Be Laid Off, Feel Betrayed by Donald Trump Carrier to Lay off 215 More Workers from Indiana Plant Despite Trump's Vows to save Jobs Ex-union president rips ‘liar’ Trump over Carrier layoffs
(DBN)

Walmart to shutter some of its Sam's Club locations
(DBN)

Tenet to lay off 2,000 employees
(DBN)

______________

Retailing:

Shiekh Shoes Battles Over DIP Financing Replacement
(DBN)

Walmart is abruptly closing 63 Sam's Club stores and laying off thousands of workers
(DBN)

Sears Holdings Announces Plan to Enhance Liquidity and Accelerate Return to Profitability
(DBN)

Why Some Are Taking Walmart's New Benefit Policies With a Grain of Salt
(DBN)

Woman Returns "Dead" Christmas Tree to Costco on Jan. 4
(DBN)

Trump renews call for internet tax, making a veiled threat against Amazon
(DBN)

______________

Healthcare:

The real reason health care is bankrupting America
(DBN)

Skyrocketing drug prices leave cures out of reach for some patients
(DBN)

Centene sued over "fictitious" ACA doctor networks
(DBN)

The Trump administration just opened the door to an enormous change to Medicaid Major shift as Trump opens way for Medicaid work requirement
(DBN)

Funding CHIP would save the government money, CBO says
(DBN)

Interfaith day marked by state senator's anti-Muslim outburst
(DBN)

______________

Currency:

Cryptocurrencies stage big comeback after trading ban fears wane; bitcoin surges 7 percent from low
(DBN)

Goldman Sachs says 'the bar looks high' for bitcoin to thrive as real money
(DBN)

______________

Celebs:

Teresa Giudice: I 'Wouldn't Mind' Moving to Italy If Joe Gets Deported After Prison Sentence
(DBN)

Gretchen Rossi wins legal battle and $523,250 in damages in bankruptcy court in long-running defamation lawsuit filed in 2010 RHOC Alum Gretchen Rossi Awarded $523000 in Lawsuit
(DBN)

______________

Golf:

Verdict prompts jubilation, disappointment and uncertainty
(DBN)

______________

Student Debt:

Student loan crisis could be worse than originally thought
(DBN)

Why Would DeVos Cancel A Student Loan Rule That Works?
(DBN)

Black college graduates default on their student debt more than white dropouts
(DBN)

Collection of ITT student debt barred in class action settlement
(DBN)

______________

Paper:

Maine-based corporation plans to buy Turners Falls former paper plant for $4 million
(DBN)

______________

Nuclear:

Sad collapse of Westinghouse
(DBN)

______________

Newspapers:

Herald publisher won’t apologize for walking away with millions
(DBN)

______________

Economy:

Weekly Initial Unemployment Claims increase to 261,000
(DBN)

David Rosenberg: Fed taking on role of 'serial bubble blower' and it won't 'end well'
(DBN)

There's a looming battle at the Fed - and Neel Kashkari just fired the first shot
(DBN)

Fed's Dudley warns that tax cuts putting economy on an 'unsustainable path' Worried central bank may have to ‘press harder on brakes’ in next few years
(DBN)

Treasury Secretary Mnuchin doesn't think Davos gathering of elites is a 'hangout for globalists'
(DBN)

What's Happened in the 10 Years Since the Economy Fell Apart
(DBN)

Household Debt Service Ratio Low in Q3 2017, but Starting to Increase Is Record-High Consumer Debt a Good or Bad Thing? Is This the Reason U.S. Credit Card Debt Keeps Climbing?
(DBN)

Economists Credit Trump as Tailwind for U.S. Growth, Hiring and Stocks
(DBN)

This chart shows Americans' faith in the economy soaring since Trump's election
(DBN)

Treasury lays out how new tax law will affect your take home pay Tax Reform Act – Impact on Highly Leveraged Companies Walmart rollbacks ahead: Retailer expected to use tax windfall to fund price cuts Walmart announces raises and bonuses — then closes some stores Wal-Mart Raises Hourly Wage to $11 in Wake of Tax Overhaul Forget the tax cut, Walmart's pay hikes help the bottom line Delta anticipates double benefit from GOP tax cut How to save the most using the new tax tables Save now, pay later: You may owe more taxes in 2019 Citigroup warns New York and California homeowners could see tax bills go up about $3,000 Nancy Pelosi says companies' bonuses to workers because of the tax bill are 'crumbs' Mnuchin says 90% of workers will get more take-home pay under withholding change
(DBN)

4 out of 5 workers are worried inflation will cut into their earnings
(DBN)

Carrier lays off more than 200 from Indianapolis factory a year after Trump deal
(DBN)

Why We Have to Talk About a Bubble
(DBN)

Trump's growth plan depends on a healthy dose of international trade
(DBN)

China's trade surplus with U.S. hits record high The Chinese are now buying as much stuff as Americans, a game-changer for the world economy
(DBN)

Leaving NAFTA Not the End of the World NAFTA's Dead. Now the Likely Outcomes NAFTA supporters use stock market to try to dissuade Trump from withdrawing from trade deal
(DBN)

Fiat Chrysler to move Ram production from Mexico to Michigan
(DBN)

Trump just floated a new, implausible way for Mexico to 'indirectly' pay for the wall Kellyanne Conway says Trump has 'discovered' there are rivers and mountains on the border that make a physical wall unfeasible Trump Will Accept Scaled Back Border Wall
(DBN)

Here's another bullish indicator on the state of the global economy
(DBN)

The fastest-growing and shrinking economies in 2018
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

______________

Real Estate:

Sacramento Housing in December: Sales down 8% YoY, Active Inventory up 8% YoY
(DBN)

____________

Municipalities:

'This is the last thing Puerto Rico needed': Sam's Club closures leave hundreds of workers without jobs on the hurricane-ravaged island
(DBN)

Puerto Rico governor orders probe of discovery of hurricane recovery materials
(DBN)

45 percent of Puerto Ricans still without power
(DBN)

______________

Oil/Gas:

Breitburn Shareholders Launch Last-Ditch Bankruptcy Showdown Breitburn Execs Defend Asset Valuations Tied To Ch. 11 Plan
(DBN)

Oil Prices Higher, Up 19% Year-over-year Oil nears $64 a barrel on shrinking inventories Oil Crosses $70 Threshold in London as Worldwide Glut Dwindles Whispers of $80 Oil Are Growing Louder Will Surging U.S. Shale Kill Off The Oil Rally?
(DBN)

Big Oil throws California’s climate change hypocrisy back in its face
(DBN)

Senators from 12 States: No Offshore Drilling
(DBN)

Rig-Count Chaos: Shale Drillers Are Confusing Oil Analysts
(DBN)

______________

Politics:

Trump bucked his own White House on a controversial surveillance law after watching Fox News Paul Ryan Has to Explain FISA to Trump The President Who Doesn’t Understand His Own Positions
(DBN)

Trump blasted after questioning protections for immigrants ‘from s------- countries’
(DBN)

Trump's Weird WSJ Interview
(DBN)

Democrats call for Trump Organization subpoena as part of 'serious investigation' into Trump conflicts of interest
(DBN)

'I feel betrayed' by Bannon, Trump says Bannon's brutal ouster from Trump and Breitbart circles should frighten Americans "Fire and Fury" is selling like crazy Now Steve Bannon Loses His Radio Show
(DBN)

Report: Darrell Issa considering running in district next door
(DBN)

Americans love the economy — but most still don't like Trump
(DBN)

The Voters Abandoning Donald Trump
(DBN)

Warning: Trump's Babysitters Are About to Go Home
(DBN)

Trump Approval Highest Among Mormons, Lowest Among Muslims New poll: Most see Trump’s mental fitness as legitimate concern
(DBN)

Trump says he probably has 'a very good relationship' with North Korea
(DBN)

______________

Religion:

Attorneys seek to break impasse with diocese over abuse
(DBN)

Creditors of Montana diocese back bid to lift bankruptcy stay
(DBN)

By 2040, Islam could be the second-largest religion in the US
(DBN)

______________

Pharma:

Teva’s board slashes its own compensation following massive restructuring
(DBN)

______________

Weather:

Hundreds search for victims of California mudslide Urgent alerts about deadly mudslides came too late for Montecito victims Hopes of finding survivors drop after California mudslides
(DBN)

US cold snap was a freak of nature, quick analysis finds
(DBN)

______________

Media:

Peter Thiel, who famously helped bankrupt Gawker, is now attempting to buy the site and its archive of articles
(DBN)

______________

Toys:

Hobby products giant Hobbico files for bankruptcy protection Filing Alert: Hobbico Files Chapter 11 to Complete a Sale Process
(DBN)

______________

Marijuana:

Vermont governor to sign bill legalizing marijuana possession
(DBN)

______________

Food/Beverage:

Waiters and bartenders could lose control of a huge portion of their earnings under a new rule proposed by DOL
(DBN)

______________

Cosmetics:

New Delaware Chapter 11 Filing – KIKO USA, Inc.
(DBN)

_____________

New Bankruptcy Opinions
(7 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (31 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (0 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)

______________

Bankruptcy Statistics:

Distressed debt & bankruptcy restructuring 2017 review - Houlihan Lokey still on top
(DBN)

______________

Agriculture:

Lawmakers Target Bankruptcy Law: Legislation Helps Farmers in Chapter 11 Battles
(DBN)

McM lake trustee denies fraud
(DBN)

______________

Mediation:

The “Estate Neutral” as an Expert Witness, a Mediator and a Financial Advisor
(DBN)

______________

Sales:

Code Does Not Entitle Trustee to Sell Free and Clear of Creditor’s Judgment Liens
(DBN)

______________

Involuntary Bankruptcy:

Involuntary Proceeding Suspended to Permit Disposition of State Court Litigation
(DBN)

______________

Venue:

Lawmakers Target Bankruptcy Law
(DBN)

______________

Travel:

Plane Nearly Lands on Occupied Runway in San Francisco San Francisco's airport has nearly caused 3 of the worst disasters in aviation history all within the same year because of a terrifying flaw
(DBN)

Spain surpasses USA as tourism destination
(DBN)

______________

Autos:

Tesla's Model 3: Slowest. Rollout. Ever.
(DBN)

Why Much of the Car Industry Is Under Scrutiny for Cheating
(DBN)

Ford says some Rangers should be parked due to air bag death
(DBN)

GM plans car without a steering wheel or pedals for 2019
(DBN)

______________

Coal:

Mine closing wipes out many of Trump's coal job gains
(DBN)

______________

Fraud:

Cocoa firm Transmar Group's woes mount as ABN Amro, others sue for fraud
(DBN)

______________

Distressed Investing:

Junk-Bond Funds See Largest Cash Inflows Since December 2016
(DBN)

______________

UK:

UK ministers hold crisis talks over Carillion Carillion asks creditors for more time to tackle debts Troubled Carillion's tale of woe Carillion shares fall as market awaits news on financing deal
(DBN)

Four Seasons Health Care rescue talks suffer setback
(DBN)

New Look plots closure of 60 shops as high street pain grows Scottish New Look stores under threat New Look may sell off stores as debts mount
(DBN)

Carillion crisis: take contracts back under public control, government urged UK's Carillion asks creditors for more time
(DBN)

‘Left in the dark’: McMullen creditors speak out
(DBN)

Byron burger chain to radically overhaul
(DBN)

Dominic Chappell convicted in BHS case
(DBN)

Freaking Out Over Bankers' Jobs and Brexit
(DBN)

Credit where credit’s due: The Supreme Court rules on situs of letters of credit in judgment affecting those seeking to enforce awards in England
(DBN)

Donald Trump has reportedly canceled his planned trip to the UK in February Donald Trump visit to London called off amid fears of mass protests Trump Cancels London Visit, Blames Obama Trump claims he canceled his state visit to the UK because he doesn't like the embassy The $1 billion US embassy in London — which Trump says is worse than the old one and refuses to visit
(DBN)

Farage May Have Second Thoughts on Brexit
(DBN)

______________

PIIGS:

One Year After Bailout, Italian Bank Is Turning Away Bond Buyers
(DBN)

Greek metro halted, ships docked in protest over new reforms
(DBN)

______________

Canada:

Judge Dismisses Ticketfly’s Request For Pemberton Ticket Proceeds To Enter Constructive Trust
(DBN)

Is court protection tying down our steel mill like coils on a flatbed?
(DBN)

Systematic attack on pensions
(DBN)

______________

Venezuela:

Gourmet chocolate becomes economic lifeline in Venezuela crisis
(DBN)

______________

Austria:

Airline Niki submits insolvency filing in Austria
(DBN)

______________

Hong Kong:

Cross border restructuring in Hong Kong aided by common law judicial assistance to foreign liquidators
(DBN)

______________

South Korea:

KDB threatens to scrap Kumho restructuring
(DBN)

______________


The Daily Bankruptcy News is primarily a curated news link gathering service.   Most of the headlines contained in the publication are a collection of links to stories posted on the Internet by various third party publications.  Such content is owned by third party sources, not The Daily Bankruptcy News, and in some cases, these links change or expire, which means you may not be able to view some news stories in prior editions of the Daily Bankruptcy News. The DBN subscription fee is not a fee for access to the content of the links, but is a charge for the considerable work involved in gathering, organizing and presenting the links. Use of this site and The Daily Bankruptcy News is subject to our Terms of Use. If you received The Daily Bankruptcy News via email (and you have a paid subscription account), to view a news story, click on the headline, and the story should open in your web browser. To view additional stories, click back to the email and click on additional headlines, which will cause new stories to open in your web browser.  You can view the Daily Bankruptcy News on the web by clicking here.

Advertising
Advertising is available in The Daily Bankruptcy News. Click here for details  Feel free to contact us with any questions.

Passwords/Subscriptions
Access to certain links in The Daily Bankruptcy News is available only to readers holding a paid service subscription. These links are currently marked with a "DBN" notation. The cost of a subscription is $64/year, payable annually.  Volume discounts are available for sites with multiple users. Click here to see a schedule of discounts. Complimentary subscriptions are available for full-time educational and governmental employees and for full time students. For information about discounts or educational/governmental subscriptions, contact us by clicking here. A separate password is required for each member of a firm wishing access to restricted links.

New readers can receive a free password good for 30 days by clicking here. 30-day passwords are not available to readers who have previously had a password, even if the password was associated with a different email address used by the reader. Refunds are not available after purchase.

Readers who wish to change their passwords should click here. Readers who have forgotten their password should click here.

Adding Your Email Address To The Distribution List
If you would like to start receiving The Daily Bankruptcy News by email each day, click here, and fill in the information requested. There is no charge to be placed on the distribution list to receive the headlines, although access to many of the links behind the headlines requires a paid subscription (see above, under Passwords). If, after adding your email address to the distribution list, you do not receive an email confirming the addition, please contact us by clicking here for help.

Removing Your Email Address From The Distribution List
If you already receive The Daily Bankruptcy News by email and you wish to remove your email address from the distribution list, click here and send the email that should appear. You do not need to type anything in the body of the email message. Note that the email asking for removal must be sent from the same email address which is on our distribution list. If you do not receive an email confirming deletion of your email address from the distribution list, contact us by clicking here for help.

If receive the publication forwarded from an older email address, you will need to contact us as described below for help removing that older address from our distribution list.

Press Releases/News Tips
Please send press releases and news tips to admin@bkinformation.com

Contact Us
The Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C. You can reach us at 281-402-3957 or at accounting@bkinformation.com (email inquiries are usually answered substantially more quickly than phone inquiries). Our mailing address is 935 Eldridge Road, No. 350, Sugar Land, Texas 77478.

Copyright 2017