July 31, 2018

The Daily Bankruptcy News

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Law:

A Modest Raise… And The Associates Are Happy? Biglaw Firm Bumps Up Salary For Junior Associates — More Experienced Attorneys Feel The Pinch
(DBN)

Latham & Watkins Expands London Restructuring Practice with Addition of Two Experienced Partners
(DBN)

What It Takes to Be a Trial Lawyer If You’re Not a Man
(DBN)

Number of Law School Applicants Surges, Especially Among High Scorers
(DBN)

Weil Holding Departing Dallas Counsel to 6-Month Notice Period
(DBN)

Firms Find Fertile Ground for Growth in Smaller Markets
(DBN)

At Law Firms, Rainmakers Accused of Harassment Can Switch Jobs With Ease
(DBN)

Students From Failed Law Program Could Finish Degrees At Top Law School
(DBN)

Firm Disqualified for Dropping One Client to Sue Another
(DBN)

Lawyer’s ‘Affair’ With Client’s Wife Triggers Email Fight
(DBN)

In-House Counsel Less Stressed By Money Than Other Attorneys
(DBN)

Holland & Knight again looks to Reed Smith in Philadelphia office expansion
(DBN)

Google just promoted its top lawyer to run global affairs
(DBN)

Compassion At Corporations And Law Firms
(DBN)

How to get rid of that weird rectangle that keeps showing up on your iPhone
(DBN)

Rudy Giuliani says 'collusion is not a crime' – after months of Trump denying he colluded with the Russians Here's why Giuliani's 'collusion isn't a crime' spiel doesn't matter for Mueller's probe Giuliani says Trump eager to talk with Mueller, but with conditions Giuliani: Trump Will Likely Not Talk to Mueller Giuliani: Former Trump campaign chief Paul Manafort doesn't have 'incriminating' dirt on president Rudy Giuliani’s rambling new statements on Michael Cohen and the Trump Tower meeting, decoded Rudy Giuliani: Michael Cohen Has Been Warned To Keep His Mouth Shut Giuliani Just Accused Mueller of Misconduct for Something That is Actually Not Misconduct Giuliani Asserts it Was Trump’s ‘Right’ to Ask James Comey for a Break Manafort Made More Than $60 Million in Ukraine, Mueller Says Trump's Increasingly Desperate Attacks on Mueller Money That Paid for Trump's Mar-a-Lago Trips Could Easily Fund Two Years Worth of Mueller Investigation Former Trump campaign chairman Manafort faces prison time in first trial from Mueller probe Trump's former campaign chief Paul Manafort starts his trial Tuesday. Here's what you need to know Manafort and Mueller agree to ditch appeal of civil case hours before criminal trial Manafort is the first to face trial in the Russia probe. Here’s what to expect. Why Mueller needs a win in the Manafort trial
(DBN)

Two Things Donald Trump Gets Right About the FBI
(DBN)

ICE agents pressured parents to be deported with their children — then separated them again when they refused Judge Orders Minors Transferred Out of Texas Detention Center Shop Where Migrant Hid Gets Death Threats 'What about me,' ask migrant children, parents who are still separated
(DBN)

Sessions announces 'religious liberty task force' Sessions: Culture 'less hospitable to people of faith' Sessions' dangerous 'religious liberty task force' will weaponize Christianity Who's Leading AG Jeff Sessions's New 'Religious Liberty Task Force'?
(DBN)

CBS board to seek outside counsel to investigate Les Moonves, but makes no decision about his role CBS starts probe, but no move to suspend Moonves Moonves Has $300 Million on the Line as CBS Ponders His Fate Colbert on Moonves: 'Accountability is meaningless, unless it's for everybody' Les Moonves and the Familiarity Fallacy Ex-FEMA personnel chief accused of harassment, hiring women as potential partners for male workers John Oliver enlists Anita Hill’s help for a #MeToo segment
(DBN)

$100 million lawsuit filed over deadly Missouri duck boat sinking
(DBN)

He stashed $100 steaks in his pants, then fled on moped
(DBN)

FL: Red Flag Law Forces 450 to Give up Guns
(DBN)

States seek to block instructions for making 3-D printed plastic firearms
(DBN)

Miami prosecutors to review arrests in town accused of framing innocent people
(DBN)

Man Wrongfully Jailed for 15 Days Awarded $3.5m
(DBN)

Officers Who Killed Thurman Blevins Face No Charges
(DBN)

Federal Judge Strikes Down Asset Forfeiture
(DBN)

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Judges:

Rand Paul just alleviated one of Trump's biggest concerns about his Supreme Court pick's confirmation Brett Kavanaugh confirmation tracker: where every senator stands on Trump’s Supreme Court nominee A leader in the fight to protect Roe v. Wade lays out the plan to stop Brett Kavanaugh Feinstein, other Senate Dems have plan on Brett Kavanaugh nomination: Stall Kavanaugh Sided With Trump Casino in 2012 to Thwart Union Drive Krugman: Trump’s Supreme Betrayal More Docs from Kavanaugh's Starr Probe Days Kavanaugh seems to shun gun registration laws, but may not oppose license training requirements
(DBN)

Ruth Bader Ginsburg Opens Up About Her Plans For Retirement
(DBN)

Texas Judge Steps Up In Defense Of Lawyers Who Are Parents
(DBN)

Judge Judy Made $150 Million Last Year
(DBN)

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Wall Street:

US stocks set for a higher open ahead of Apple earnings
(DBN)

US close: Street heads for red at start of busy week
(DBN)

FANG index of tech stocks tumbles into correction territory, down 10% from June record Tech stocks are diving, and traders have never been more scared of a massive meltdown Apple and the FANG stocks could lose at least a third of value, market watcher warns Manager who sold Facebook in April: 'Don't see us being heavily invested in Facebook ever again.' Twitter shares lose over one-quarter of their value in two days as Wall Street worries about the social media company’s user growth Why Apple probably won't be caught in the FANG meltdown
(DBN)

Goldman partners’ haul on crisis-era options: $3 billion
(DBN)

This ‘prophet of doom’ predicts stock market will plunge more than 50%
(DBN)

Prepare for the biggest stock-market selloff in months, Morgan Stanley warns Morgan Stanley: The Correction is Coming
(DBN)

The Market Has Never Seen This Before
(DBN)

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Layoffs:

Laid off Necco employees file class action lawsuit after shutdown of Revere factory
(DBN)

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Politics:

Trump: I am ready to meet with Iran 'any time they want to' – with no preconditions
(DBN)

Conservative Koch group says it won't back Republican in pivotal North Dakota Senate race
(DBN)

Bob Woodward's new book puts readers 'face to face with Trump'
(DBN)

FactCheck: I'm More Popular Than Lincoln
(DBN)

Trump Calls Kochs a `Total Joke' After Break With GOP Candidate
(DBN)

White threat in a browning America - How demographic change is fracturing our politics
(DBN)

GOP midterm elections fear rises
(DBN)

NFL tells Jerry Jones to shut up about national anthem LeBron James has some thoughts about Trump's attempts to 'divide' people through sports
(DBN)

LeBron James just hinted that he could run for president in 2020
(DBN)

Trump schedules his meetings around 'Fox and Friends' segments, according to former White House official
(DBN)

‘The map is different now’: Trump blows the 2020 race wide open
(DBN)

Report: North Korea working on new missiles
(DBN)

A New Batch of Trump Administration Appointees
(DBN)

Poll: Democrats have an edge on health care The health care surge: Why it's rising as a midterms issue Americans Say Trump, GOP Now Responsible for any Obamacare Problems
(DBN)

Media bias extends beyond politics
(DBN)

Trump marks Kelly's one-year mark as departure rumors swirl
(DBN)

ACLU: Only Voters Can Save America
(DBN)

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Food/Beverage:

Atlanta restaurant chain Sage Woodfire Tavern files for Chapter 11
(DBN)

Necco workers ponder their next step after Revere company abruptly closes
(DBN)

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Nuclear:

Legislators: Utility knew of woes before new law
(DBN)

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Taxis:

Cities Start Taxing Ubers
(DBN)

Uber and Lyft are gaining even more market share over taxis and rentals
(DBN)

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Student Debt:

How some young people are getting mortgages despite student loan debt
(DBN)

New generation of candidates saddled with student debt — and not afraid to talk about it
(DBN)

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Distressed Investing:

The Winter of Our Discontent May Be Over (If you are a Distressed Debt Investor)
(DBN)

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Economy:

Interest rates could move higher this week no matter what Fed does
(DBN)

The components of GDP growth : What's driving the second quarter's 4.1% gain?
(DBN)

Cramer on Fed's balance sheet wind-down: I think they're doing it wrong
(DBN)

Dallas Fed: "Robust Expansion in Texas Manufacturing Continues; Uncertainty Picks Up"
(DBN)

80% of US Workers Live Paycheck to Paycheck
(DBN)

Trump is reportedly considering a $100 billion tax cut that would overwhelmingly help wealthier Americans Treasury contemplates how to cut another $100 billion in taxes, mainly benefiting the rich Trump administration weighs $100-billion tax break for capital gains
(DBN)

US Debt Sales To Surge: Treasury Raises 2018 Borrowing Need To $1.33 Trillion
(DBN)

Kudlow FactCheck: "Even the CBO numbers show now that the entire $1.5 trillion tax cut is virtually paid for by higher revenues and better nominal GDP."
(DBN)

Will Social Security Be Around for Millennials?
(DBN)

Why you’ll still have a hard time saving money, even if you get a raise
(DBN)

Dimon says the president's tax cut and other efforts have 'accelerated growth'
(DBN)

Millennials are 5 times as likely as older adults to say bitcoin is the best way to save
(DBN)

Tariffs will cost Caterpillar $200 million, so it's going to raise its prices Jamie Dimon says he's hoping Trump's trade methods work but fears negative outcomes Full-scale bailout for industries impacted by tariffs would cost $39 billion, Chamber of Commerce says Standard Chartered: The US-China trade war will have a 'minimal' effect on our business So Much for "Trade Wars are Easy to Win" Trump says "globalist" Koch brothers are "a total joke" Trade War Casualties: Factories Shifting Out Of China Customers Paying for Trump's Trade War The effects of Donald Trump's trade war Why Tariffs Are Just Bad Taxes IMF Warns Tariffs, Tensions Pose Risk to Global Growth Canada may need to face 'pain points' to avoid auto tariffs U.S. ceasefire on auto trade war ‘shaky,’ more tariffs coming, economist says BMW Plans First EU Plant in Two Decades Amid Trade Tensions
(DBN)

One chart that shows how much worse income inequality is in America than Europe
(DBN)

Trump’s economic victory lap is full of embellishments and exaggerations
(DBN)

Widely watched recession signal may be falsely lit by growth
(DBN)

Why There Won’t Be a Government Shutdown, Probably
(DBN)

Awarding green cards does little to boost government revenue, study finds
(DBN)

More Americans are forced to "reside" in their vehicles
(DBN)

Living Abroad Isn’t So Idyllic for U.S. Expats Facing New Taxes
(DBN)

The Great Recession: History & Consequences
(DBN)

Mapped: The Median Age in Every U.S. County
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

NAR: Pending Home Sales Index Increased 0.9% in June
(DBN)

America's housing market is raising a 'large red flag' for the economy
(DBN)

Why adjustable-rate mortgages are on the rise again
(DBN)

Q2 2018 GDP Details on Residential and Commercial Real Estate
(DBN)

El Paso: New twist in the Abraham bankruptcy case Foster, Fernandez want creditors to vote on $10M exit plan
(DBN)

Yonkers' Hall of Records redevelopment in bankruptcy
(DBN)

Texan Builds Second Fortune From Wreckage Of Real Estate Empire He’d Sold
(DBN)

Colorado Appeals Court Revives Developer Suit Against Holland & Knight
(DBN)

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Municipalities:

Puerto Rico Power Utility Reaches Deal With Bondholders Puerto Rico reaches deal to restructure $3B of power debt
(DBN)

The Pension Hole for U.S. Cities and States Is the Size of Japan’s Economy
(DBN)

A Connecticut Bond Default Isn't Out of the Question
(DBN)

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Oil/Gas:

Oil prices rise back above $70 a barrel
(DBN)

The Texas Oil Boom Isn’t Creating Enough Jobs
(DBN)

Here’s how the Saudis could help Trump keep a lid on U.S. gasoline prices
(DBN)

Oil Rigs: " A local peak in rig counts"
(DBN)

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Startups:

Millennial-targeted startups face wild boom-bust cycles
(DBN)

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Healthcare:

Quantifying Financial Distress to Stop Hospital Bankruptcy, Closure
(DBN)

Cancer patients are twice as likely to declare bankruptcy
(DBN)

Standalone ER seeks bankruptcy protection, affecting two Wichita County lawsuits
(DBN)

Study: 'Medicare for all' projected to cost $32.6 trillion Bernie Sanders’s $32 trillion Medicare-for-all plan is actually kind of a bargain What single-payer health care would cost the U.S. That study going around on Bernie Sanders' Medicare for All plan comes with a big catch — the US would actually be saving money overall on healthcare
(DBN)

Trump blocked push for limited Medicaid expansion
(DBN)

99% of Americans don’t make this easy money-saving choice on healthcare
(DBN)

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Furniture:

Furniture Maker Heritage Home Files for Bankruptcy With Plans for Sales Thomasville, Broyhill owner enters bankruptcy protection, plans to sell brands New Delaware Chapter 11 Filing – Heritage Home Group LLC, et al.
(DBN)

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Mass Torts:

Settlement Expected in Case Over Shein Law Asbestos Suits
(DBN)

NFL concussion claims hit $500 million in less than 2 years
(DBN)

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Pharma:

Doctor payments increased drug prescribing by 73%, new study finds
(DBN)

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Printing:

Bankrupt Contractor Will Get $5.5 Million For Not Printing 2020 Census Forms
(DBN)

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IT:

DDN finalizes acquisition agreement for bankrupt Tintri
(DBN)

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Entertainment:

Weinstein Co. Disputes Expenses Sought By Former 'Project Runway' Producer
(DBN)

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Media:

Alex Jones faces existential courtroom battle over limits of 'fake news'
(DBN)

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Travel:

TSA defends 'Quiet Skies' program which monitors American citizens
(DBN)

More than 300 passengers taken off plane after bomb comment, fight
(DBN)

Alaska Airlines: Gay couple separated, seats given to straight couple
(DBN)

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Newspapers:

Newspaper newsroom employees down by 45%!
(DBN)

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Debt Collection:

Collection Law Firm Prevails in “Meaningful Attorney Involvement” Lawsuit Brought by BCFP
(DBN)

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Fraud:

Hammon figures prominently in indictment of others
(DBN)

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New Bankruptcy Opinions
(6 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (16 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)

Chapter 11 Bankruptcy Case Studies
(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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Bankruptcy Strategy:

Counsel: Remember to Take a Look at the C-Suite
(DBN)

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Consumer Bankruptcy:

UpRight Law chooses an independent monitor
(DBN)

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Bankruptcy Compensation:

No Seconds: Court Upholds Payments under KERP Program as Waiver of General Unsecured Claims Under Prepetition Retention Program
(DBN)

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Miscellaneous:

Links for Restructuring Professionals to Key Cases, Articles, and News Briefs Links for Restructuring Professionals to Key Cases, Articles, and News Briefs
(DBN)
(DBN)

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Transfers:

A Check is Transferred When It’s Honored, Not Delivered
(DBN)

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Bankruptcy Software:

Federal court dismisses long-running bankruptcy fee-fixing claim vs BMS, perhaps for last time
(DBN)

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IP:

How Bankruptcy Effects Rights Under Trademark Licenses
(DBN)

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Advisors:

Jay Alix v. McKinsey Update
(DBN)

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Repo Markets:

Repo Markets Across the Atlantic: Similar but Unalike
(DBN)

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Movie Theaters:

MoviePass' owner is back trading below $1, less than a week after it did a 1-for-250 reverse stock split to avoid being kicked off the Nasdaq Why MoviePass is the future — even if it doesn’t survive As frustrations over service and peak pricing mount, MoviePass users eye other options MoviePass CEO announces in all-hands meeting that tickets to big upcoming movies will not be available on the app
(DBN)

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Climate:

California wildfires claim more lives as flames rage on CA: 15,000 Told to Flee Fires Brush fire breaks out in Santa Clarita, threatening homes California battling 17 large wildfires, goes through one-fourth of annual fire funds in July California wildfires kill 8, burn a quarter-million acres How the Carr Fire morphed into a towering, deadly "fire tornado" Firefighters battle fatigue as they try to get flames under control Northern California wildfire 9th most destructive in history Oregon wildfire causes evacuations Carr Fire Interactive Map
(DBN)

Heat waves can be deadly for workers and will drain the US economy
(DBN)

Why experts are now more confident in pinning extreme weather on climate change
(DBN)

US Supreme Court Won't Halt Novel Climate-Change Case
(DBN)

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Religion:

A Catholic cardinal has weathered abuse allegations for years. Now they’re finally public.
(DBN)

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Banking:

Community State Bank Awaits Bankruptcy Clarity
(DBN)

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Celebs:

50 Cent Wins Sanctions Bid Against Concertgoers
(DBN)

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Retailing:

Amazon and other uncertainties are driving M&A
(DBN)

Why Amazon can't touch Ross and TJMaxx
(DBN)

An Amazon staffer is posting YouTube videos of herself living in a warehouse parking lot after an accident at work
(DBN)

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Remand:

Removed Divorce Action Remanded on More Rigorous Grounds
(DBN)

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UK:

Cash-strapped Katie Price’s £2million mansion falling apart amid money woes
(DBN)

'Not an option': The British car industry is sounding the alarm on a no deal Brexit The City of London issued a stark warning about the future of European finance after Brexit — and the EU is listening Theresa May warns Conservative MPs to back her deal or risk delaying Brexit Brexit middle ground disappearing from under Theresa May's feet Brexit Deprives U.K. of Pickup Enjoyed by Other Major Economies
(DBN)

UK Car Production Hit by Perfect Storm
(DBN)

U.K. watchdog: We can't punish RBS for misbehavior
(DBN)

UK lawmakers call for watchdog powers to regulate company loans
(DBN)

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EU:

Eurozone GDP slows again; inflation rises to 2.1%
(DBN)

Danish Muslims plan to defy veil ban with street protests...
(DBN)

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PIIGS:

Italy's new government wants to reject the EU-Canada trade deal
(DBN)

Did Greece Recover from The Recession?
(DBN)

Athens told to stick to reforms or risk losing investment
(DBN)

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Canada:

Trade fight and tariff threats are sapping Canadian confidence
(DBN)

Higher interest rates to hit younger, middle-income households: Federal analysis
(DBN)

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India:

Banks, lessors serve default notices to debt-ridden Air India Debt-ridden Air India defaults on govt-guaranteed loans, banks serve notice
(DBN)

5 Points On Bill To Amend Insolvency And Bankruptcy Code Insolvency and Bankruptcy Code: Here's how the amended bill looks like
(DBN)

Protecting the Interests of First Charge Holders under the Insolvency and Bankruptcy Code
(DBN)

Fraudulent Transactions and Look-Back Period
(DBN)

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China:

Troubled Energy Group’s Brokerage Arm Gets Near-Failing Grade
(DBN)

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Malaysia:

What Happens To Employees In A Business Closure?
(DBN)

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Venezuela:

Venezuela's manmade economic crisis
(DBN)

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Australia:

Infrastructure contracts review urged on termination and insolvency
(DBN)

More than 32000 Australians declared bankruptcy in 2017-18 Record number of Queenslanders declare bankruptcy in 2017/18 Australia's bankruptcy capital revealed: New stats show financial distress is on the rise - and one state has been hit especially hard Bankruptcy surge hits young families in WA and Queensland hardest
(DBN)

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MENA:

Secretary of State Pompeo says no reason for Pakistan's IMF bailout to pay off China
(DBN)

Iran's currency plunges to a record low as US sanctions near
(DBN)

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