June 11, 2018

The Daily Bankruptcy News

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Law:

'The Tone Deafness Is Astounding': Clients Unhappy About Milbank Associate Raise Announcement Clients’ Rate Concerns Slow the Spread of Associate Pay Bump Emergency Podcast: Milbank Raises Salaries!!! Salary Wars Scorecard: A Listing Of The Firms That Have Announced Raises (2018) Jones Day Can’t Even Raise Salaries Without Screwing Someone Over Will Milbank's Raise Burst the Big Law Prestige Bubble?
(DBN)

The Biglaw Firm You Count On For Summer Bonuses
(DBN)

Interview with Susheel Kirpalani of Quinn Emanuel
(DBN)

6 Cities Where It Pays To Be A BigLaw Associate
(DBN)

ME: Murray Plumb & Murray expands bankruptcy practice with new partner
(DBN)

Why Law Firms Should Never Accept Their Fees in Cryptocurrency
(DBN)

This Lawyer’s Law School Loans Have Ballooned To Insane, Unpayable Amounts
(DBN)

Good Law Schools Are All Alike; Every Bad Law School Is Bad In Its Own Way
(DBN)

Paul Manafort appears to be running out of ways to combat a key charge in the Mueller probe Paul Manafort faces new charges of obstruction of justice in Russia probe Mueller just hit Paul Manafort and a Russian intelligence operative with a new indictment Mueller charges Manafort and Ukrainian business associate Kilimnik with obstruction Poll: Majority says Trump's 'spygate' claims not accurate Narrow Plurality of Voters Says Mueller Probe ‘Legitimate’ Manafort ignored advice to stop talking with Russian-linked associate after indictment: report
(DBN)

The FBI's Fractured Fairy Tales
(DBN)

Trump says he's thinking 'very seriously' about pardoning Muhammad Ali, whose attorney says would be 'unnecessary' Trump considers pardoning late boxer Ali, whose conviction was overturned in 1971
(DBN)

Trump says he's considering pardoning thousands of people "The Pardon Game": Trump's Celebrity Edition Amend the Constitution for Pardon Power
(DBN)

There's a new battle brewing over the Michael Cohen documents Trump Loses Bid for Cohen Doc Secrecy Wood Directs Cohen, Trump to File Privilege Objections Publicly Immigration firm seems to thrive after Trump lawyer's help
(DBN)

Stormy Daniels’ former lawyer claims Avenatti defamed him, Cohen violated his privacy rights
(DBN)

House GOP leaders craft framework for Dreamers compromise Justice Department wants delay if DACA injunction is issued in Texas DOJ Will Not Defend DACA in Tx. Lawsuit Nearly 1,800 families separated at US-Mexico border in 17 months through February A migrant father separated from his wife and child at the US-Mexico border had a breakdown at a Texas jail and took his own life Separated at Border, Father Commits Suicide
(DBN)

Higher education's harassment hush money The Baptist Church is staring down its own #MeToo moment
(DBN)

Report: Wage Theft Rampant in America
(DBN)

Former Casey Anthony Lawyer Sentenced in Drug Case
(DBN)

Florida revoked 291 concealed weapons permits after an employee stopped reviewing background checks
(DBN)

He pocketed his victims’ organs — was his death penalty trial fair?
(DBN)

Woman drove 2 children in pet kennels
(DBN)

‘Legally Blonde 3’ Will Be Coming To A Theater New You In 2020
(DBN)

Air Force officer who went missing 35 years ago arrested after fraud investigation
(DBN)

Dallas bankruptcy attorney, 72, who survived polio lives in iron lung
(DBN)

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Judges:

Appeals court reverses attorney’s disbarment, error to have bankruptcy judge testify
(DBN)

‘Beware the robots,’ chief justice tells high school graduates
(DBN)

Senator Bob Casey Really Doesn’t Want This Guy To Be A Federal Judge
(DBN)

Travel ban, gerrymandering top Supreme Court's closing flurry of cases
(DBN)

Sotomayor promotes new law clerk hiring plan at ACS convention
(DBN)

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Wall Street:

U.S. stock futures steady as attention swings to North Korea summit US stocks set for minor gains ahead of Trump-Kim summit; trade tensions weigh
(DBN)

Stocks rise more than 1% last week, but gains capped by trade tensions
(DBN)

Investors brace for week packed with Fed, ECB and North Korean drama
(DBN)

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Layoffs:

Ottawa County farm closing by August, affecting 300 jobs
(DBN)

Diabetes giant Novo said to consider up to 3,000 layoffs
(DBN)

America unprepared for "jobs apocalypse" of automation
(DBN)

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Politics:

Trump says EPA chief Scott Pruitt is not blameless: 'We'll see what happens' House Democrats call for criminal investigation of Scott Pruitt Krugman: Corruption Hits the Small Time
(DBN)

What's really behind Trump's protectionism
(DBN)

Trump Is Not Destroying Himself
(DBN)

Robert De Niro drops f-bombs to bash Trump at Tony Awards
(DBN)

Trump's Demolition Theories Won't Work
(DBN)

Democratic donors push Mark Warner to enter 2020 race as moderate alternative to Warren, Sanders
(DBN)

Trump says Russia should be let back into the G-7 Bringing Russia to G-8 would be 'mistake': Graham
(DBN)

Trump FactCheck: People "went out in their boats to watch" Hurricane Harvey.
(DBN)

Trump says Warriors or Cavaliers won't be invited to the White House after NBA finals
(DBN)

McCain: Trump 'diminishing America's leadership'
(DBN)

Trump calls for Russia to be reinstated to G-7, threatens allies on trade Top EU figure: Trump is ‘undermining’ world order the US created America Alone? McCain to Allies: We Stand With You
(DBN)

Trump to ask athletes who kneel during anthem to suggest pardons
(DBN)

Court rules Kris Kobach can be investigated by citizen grand jury
(DBN)

A senior White House aide is reportedly sharing fake stories with staffers to identify who's leaking to the press
(DBN)

Meet the guys who tape Trump's papers back together
(DBN)

Kim Arrives in Singapore for Trump Summit Trump optimistic, confident hours before historic, potentially dicey summit with Kim Jong Un North Korea summit: Trump will stand firm on denuclearization, says Pompeo Pompeo: We are 'eager' to see if North Korea is 'sincere' about its willingness to denuclearize When the US and North Korea say 'denuclearization,' they mean two very, very different things How the Trump-Kim Summit Could Play Out Ahead of meeting with North Korea, Trump keeps lashing out at allies Canada and Europe #TwoDictators lights up Twitter after Fox News host accidentally uses term for Trump and Kim Can North Korea be trusted? Here's what history says Can North Korea be trusted? Here's what history says
(DBN)

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Autos:

Tesla will see at least another 26 percent rise, technical analyst says
(DBN)

Auto Lenders Ramp Up Risk to Win More Customers
(DBN)

Audi Emissions Probe Moves to CEO
(DBN)

Oil prices are heading lower this year and even lower in 2019, JP Morgan forecasts
(DBN)

Defeat Devices Found in Daimler Diesels
(DBN)

Things don't look good for Dodge and Chrysler
(DBN)

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Gambling:

Bankrupt Suffolk Off Track Betting awards $511506 in raises
(DBN)

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Retailing:

Guitar Center Plans For The Next 50 Years
(DBN)

Sears: Lampert Is Ripping It Apart
(DBN)

Sears online sales a fraction of department store peers
(DBN)

Rising From The Ashes To Lead A New Retail Paradigm
(DBN)

Authentic Brands beats DSW in auction for Nine West
(DBN)

In Retailer Bankruptcies , Private Equity Comes Under Fire
(DBN)

This photo of a Marc Jacobs bag in TJ Maxx perfectly captures the brand's reported fall from grace
(DBN)

PetSmart reportedly hires debt advisers
(DBN)

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Golf:

The Next Housing Battleground: Dead Golf Courses
(DBN)

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Celebs:

Teresa Giudice went from 'Housewife' to bodybuilder
(DBN)

Lenny Dykstra files charges against Uber driver he says kidnapped him on terrifying ride
(DBN)

Lil’ Kim files for bankruptcy, NJ house is up for auction Lil Kim Faces Some Devastating News About Her Finances
(DBN)

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Economy:

61% of Americans don't know how much they need to retire and could end up broke
(DBN)

World Economy: Fed and ECB to Tighten Policy in Tandem
(DBN)

Q2 GDP Forecasts New York Fed Staff Nowcast stands at 3.1% for 2018:Q2 and 2.9% for 2018:Q3
(DBN)

America's Best Job Market in Years
(DBN)

Median Income Stagnant Since Great Recession
(DBN)

Economists Believe Recession Comes in 2020
(DBN)

Bernanke Video: "What you are getting is a stimulus at the very wrong moment"
(DBN)

The Fed has a surprise in store that could mean an early end to interest rate hikes Fed goal is to signal an ‘unhurried’ pace of interest-rate hikes Fed will ignore G-7 trade spat and announce new rate hikes, economist says Fed May End Interest Rate Hikes
(DBN)

Economic growth for second quarter is on track to double 2017's full-year pace
(DBN)

Trump makes stunning reversal, says there should be 'no tariffs, no barriers' at G7 summit weeks after imposing huge tariffs on US allies Trump says trade should be 'tariff free' between G-7 nations
(DBN)

Some of America's top CEOs are freaked out about Trump's tariffs A new era of global trade wars Tariffs make 'no sense' for businesses, the National Retail Federation CEO says House GOP leader: Trump's methods got North Korea to talk so give him a chance on trade Trump vs. world: Tariff dispute likely to cast a chill over G-7 summit Short Term US Win, Long Term World Damage Why Trump lit the fire Wisconsin Businesses Reeling from Tariffs US Business Should be Terrified Over Trade The European Union is slapping tariffs on over $7 billion of US goods — here are the states that stand to lose the most How the globalists fought — and failed U.S. allies uniting in opposition to Trump trade policies Republicans Are Divided Over Trump's Stance On Trade A Steelworkers Union On Trump's Tariffs China Plays 3D Chess on US Over Trade Trump brings US-Canada alliance to the brink of a trade war As U.S. Flexes Its Muscles On Trade, Other Countries Are Beginning To Push Back Trump is getting nowhere with Europe and China on widening trade deficits Trump Blows Up Own Motive for Trade Wars
(DBN)

G-7 struggles to salvage summit as Trump holds firm on trade dispute 8 photos show just how tense things were between Trump and other world leaders at the G7 summit Trump hits the world stage, Day 1: Come late, leave early, offend host, alienate allies Trump is helping Putin with a key goal when he spurns US allies Trump clashes with friends while flirting with foes G-7 may look like a hot mess, but it doesn't matter — trade wars do Why Trump is targeting G-7 nations on trade G7 summit ends in disarray after Trump refuses to endorse joint communique, rips Canadian Prime Minister Justin Trudeau as 'dishonest & weak' Kudlow: Trump stood up to G-7 to show toughness before Kim summit Trump's top economic aide on Trudeau: 'It was a betrayal' Krugman: Debacle in Quebec Trump's tweets undo a weekend of G7 diplomacy - and baffle Canadian officials G7 summit: France condemns Trump 'fits of anger' Trump Goes to War Against the Democracies France, Germany slam Trump's G7 statement U-turn Merkel: Trump's G7 message withdrawal is "sobering" and "depressing" Putin says he’s ‘ready’ to return to G7 after Trump suggestion Canada Responds After White House Says Trudeau 'Stabbed Us In The Back'
(DBN)

FactCheck: US Trade Statistics
(DBN)

Trump rips Canada, NATO in Singapore tweetstorm
(DBN)

Don't Split NAFTA Agreement
(DBN)

IMF's Lagarde Dismayed Over Turmoil
(DBN)

Blue States Find Ways to Undercut GOP Tax
(DBN)

Elizabeth Warren and other Democratic senators ask for inquiry into Trump's 'reckless' jobs report tweet
(DBN)

A flood of upcoming elections around the globe could wreak havoc on the financial markets
(DBN)

Bernanke: Trump's tax cuts are like 'Wile E. Coyote' and the economy's boost will fall off the cliff in 2020
(DBN)

Gov't Underestimates Gig Economy Work
(DBN)

Why the gender pay gap still exists 55 years after the Equal Pay Act was signed
(DBN)

Peter Morici: Trump economy is doing fine, to the chagrin of the dismal science
(DBN)

A pumped-up U.S. economy does have some downsides — here are two of them.
(DBN)

Immigration raid worries landscapers relying on foreign help
(DBN)

AAR: Rail Carloads Up 3.2% YoY, Intermodal Up 6.6% YoY
(DBN)

Hotels: Occupancy Rate increased Year-over-Year, On Record Annual Pace
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

CoreLogic: Home equity gains top $1 trillion in first quarter
(DBN)

Carson Ends Plan to Raise Poor's Rent 300%
(DBN)

4 Out Of 5 Young Borrowers Blame Student Loan Debt For Not Owning A Home
(DBN)

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Municipalities:

Puerto Rico's sales-tax bonds soar on optimism about deal Puerto Rico sales tax bonds rally on bondholder agreement terms
(DBN)

The Puerto Rico settlement and a roundup of state stressors
(DBN)

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Oil/Gas:

Oil Rigs: "Now, back to the Permian Show"
(DBN)

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Healthcare:

Fed up with rising costs, big US firms dig into health care
(DBN)

The suicide rate has risen 28% in the US in less than 20 years, according to new data How Suicide Quietly Morphed Into a Public Health Crisis
(DBN)

What Latest Health-Law Case Means for Insurance Markets
(DBN)

Trump’s New Plan to Dismantle Obamacare Comes With Political Risks Trump administration's latest attack on Obamacare would gut protections for the sick Justice Department tells court it won’t defend parts of the health law on pre-existing conditions
(DBN)

Lonely people twice as likely to die from heart problems
(DBN)

Vermont's new mandate: All residents must have health insurance
(DBN)

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Entertainment:

Ryan Kavanaugh Prevails Against Metz; Court Rules in Kavanaugh's Favor Relativity Founder Shielded From Part Of Investor Fraud Suit
(DBN)

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Food/Beverage:

Investors file appeal to block Garces auction
(DBN)

Tops creditors want to examine million-dollar deals that piled on debt
(DBN)

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Radio:

Bankruptcy Court Judge OKs Two iHeart Orders IHeart gets bankruptcy court approval for $65.8M in bonuses
(DBN)

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Religion:

Report on Pennsylvania priest abuse to be most extensive yet PA: AG to Release Report on Church Abuse
(DBN)

Archdiocese needs $40M for abuse settlement. Here's where it's looking
(DBN)

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Newspapers:

Cost of govt rises as local newspapers close
(DBN)

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Travel:

Flight diverted after passenger with blow up doll acts 'disgracefully'
(DBN)

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Farming:

'We just feel manipulated:' Creditors react to Grant Farms CSA bankruptcy
(DBN)

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Taxis:

139 taxi medallions will be offered at bankruptcy auction
(DBN)

Dislocation And Its Discontents: Ride-Sharing's Impact On The Taxi Industry
(DBN)

Uber Fails to Disrupt the Concept of Full-Time Work
(DBN)

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Tourism:

Bexar County seizes double-decker buses from San Antonio tour operator
(DBN)

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Coal:

Intervention could save nuclear power, but coal is dead
(DBN)

Trump wants energy security to be about electricity, not just oil
(DBN)

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Corporate Reform:

CFPB Drops $109M Fine Against NJ Lender
(DBN)

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New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (37 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (29 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:

What Do Veterans' Bankruptcies Have To Do With Business Distress?
(DBN)

Does the Relative Income of Peers Cause Financial Distress? Evidence from Lottery Winners and Neighboring Bankruptcies
(DBN)

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Valuation:

Valuation Disputes in Corporate Bankruptcy
(DBN)

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Litigation:

The Evolving Regulatory Landscape For Litigation Finance
(DBN)

Outwork Your Adversary
(DBN)

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Non-Profits:

Nonprofit Bankruptcy Sales and Transfers
(DBN)

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Plan Confirmation:

Plan Support Agreements: Key Considerations for Creditors
(DBN)

The Absolute Priority Rule (Probably) Still Applies in Individual Bankruptcy Cases
(DBN)

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Indentures:

What Constitutes a Transfer of "All or Substantially All" of a Borrower's Assets for Purposes of Indentures and Credit Agreements?
(DBN)

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Tax:

Good Faith Won't Excuse IRS Action, 1st Circ. Says
(DBN)

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Bad Faith:

Patently Abusive Chapter 11 Cases Filed by Non-Financially Distressed Companies Dismissed for Bad Faith
(DBN)

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DIP Finance:

A Lesson in DIP Financing Due Diligence
(DBN)

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IP:

Trademark Licensee Retains Rights Post-Rejection
(DBN)

Penthouse Bankruptcy Ends 'Caligula' IP Suit
(DBN)

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Cross-Border:

Insolvency Risk Planning for Cross-Border Transactions
(DBN)

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Sanctions:

Let’s Ask for Sanctions! (But What Kind?)
(DBN)

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Professional Compensation:

The high cost of going broke
(DBN)

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Avoidance Actions:

Arizona Court of Appeals Misses With Fraudulent Transfer Opinion For ERISA Contributions In Shah
(DBN)

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Mootness:

Momentive Court Declines to Dismiss Creditors’ Appeals as Equitably Moot
(DBN)

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Trustees:

BK ND MS Seeks Ch. 7 Trustee
(DBN)

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Miscellaneous:

Links for Restructuring Professionals to Key Cases, Articles, and News Briefs for May 16-24, 2018
(DBN)

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Climate:

Largest Iceberg Almost Gone After 18 Yrs
(DBN)

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Fraud:

“She Absolutely Has Sociopathic Tendencies”: Elizabeth Holmes, Somehow, Is Trying to Start a New Company!
(DBN)

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Student Debt:

This is what student debt is doing to your mind
(DBN)

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Maritime:

Shipping chief says $50bn cost of green fuel rules risk bankruptcy
(DBN)

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UK:

Bankruptcy (Scotland) Act 2016: Personal Insolvency Made Clearer
(DBN)

Are CVAs being abused? Spotlight on CVAs BPF calls for urgent government review of CVAs Landlords mull legal action over House of Fraser CVA Landlords to fight House of Fraser deal House of Fraser's recent struggles are a reminder that sometimes it’s OK for lenders to not get back what they’re owed Are controversial rescue deals for retailers like House of Fraser hurting ordinary savers' pensions?
(DBN)

New Guidance Note Anticipated on Collective Redundancies in Insolvency
(DBN)

Poundworld falls into administration, putting 5000 jobs at risk British discount retailer Poundworld goes into administration
(DBN)

The EU rejects Theresa May's Brexit 'backstop' plan
(DBN)

Trump could handle Brexit better, UK foreign secretary suggests in covert tape
(DBN)

Brexit is even messier than critics expected. So what happens now?
(DBN)

Pound slips as U.K. factory output falls the most since 2012
(DBN)

KPMG fined £4.5m over Quindell audit
(DBN)

Business optimism turns gloomier in May
(DBN)

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PIIGS:

New Italian economy minister vows to stay in euro, cut debt level
(DBN)

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Malaysia:

Malaysia just came out in favor of protectionism — despite being in the trans-Pacific trade deal
(DBN)

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India:

Resolving the Anti-Trust Concerns Raised by Insolvency Resolution Plans
(DBN)

Working out the kinks in the bankruptcy code
(DBN)

The government’s right to throw homebuyers a lifeline Home-buyers can trip up the entire IBC process
(DBN)

Insolvency Code: what’s new
(DBN)

Insolvency & bankruptcy: Focus on resolution and not liquidation, says IBBI chief MS Sahoo IBC’s objective is to keep the firm alive, says Bankruptcy Board chief MS Sahoo
(DBN)

Bankruptcy code to eliminate ‘fly-by-night’ developers: Arun Jaitley
(DBN)

Banks get back 70% of amount claimed from 12 bankruptcy-hit companies, realisation doubles in Q4
(DBN)

Indian Insolvency Summit
(DBN)

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Venezuela:

Venezuela's Long Road to Ruin
(DBN)

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MENA:

Dubai-based Abraaj mingled investor funds report finds Abraaj audit finds funds mingled corporate and investor cash
(DBN)

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Australia:

Quintis gets new life as private firm, but shareholders lose out
(DBN)

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