June 13, 2018

The Daily Bankruptcy News

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3-Column Formating

 

Law:

Cravath beats Milbank on salaries for some associates • Debevoise And Plimpton Does The Nice Thing And Matches Cravath • First Firm Matches The New And Improved Cravath Pay Scale • Screw Cravath, What’s Kirkland Going To Do? • The Associate Salary Arms Race Is a Mass Act of Self-Harm
(DBN)

Making Partner At This Biglaw Firm Isn’t All It’s Cracked Up To Be
(DBN)

Dentons employee’s suit says she was treated like a sexual object, complaints went unheeded • Dentons Faces New, Explicit Harassment Claims
(DBN)

Seasoned Women Lawyers Gaining Leverage in Salary Talks
(DBN)

4 GCs, 4 Different Strategies for Reducing Cost Through Legal Operations
(DBN)

Law Firms Ramp Up as Investors, Companies Add Risk, Do Deals
(DBN)

King & Spalding Case Spotlights Response to Ethics Report
(DBN)

I Spent Hundreds of Hours Preparing For Moot Court. When I Got There, I Was Told To Smile More
(DBN)

Which Biglaw Firms Still Require Summer Associates To Sign Mandatory Arbitration Agreements? • Most legal employers (who responded so far) deny imposing mandatory arbitration agreements on summer associates/interns
(DBN)

Take This Fit And Shove It: The In-House Counsel Hiring Process
(DBN)

Interest in Law Firm IPOs on the Rise in UK • Public listing interest increases among top 100 UK law firms
(DBN)

You Need More Than 8 Hours of Sleep
(DBN)

Bankruptcy Lawyer: Working With A Coach For Transformation And Empowerment
(DBN)

Professor Cribbed Exam Questions From The Internet… For An Open-Internet Exam
(DBN)

The Problem with Law Schools? They Only Prepare Future Lawyers
(DBN)

Law Firm’s Fraud Claims Revived in Fee Dispute with Client
(DBN)

Judge tells special counsel Mueller to disclose key names in Paul Manafort case • Mueller warns that election, politics meddling by foreigners is still happening • Mueller is Trying to Hide Evidence from Defendants in Russian Trolls Case • Mueller dropped a hint that he's nowhere near finished charging people in the Russia probe • Mueller unveils more proof Manafort led Ukraine lobbying in U.S. • Mueller-friendly Republicans losing patience with probe • Trump Can End the Russia Probe—But That Doesn’t Mean He Can Obstruct It • Rosenstein Threatened to Subpoena Intelligence Committee Calls, Emails • Trump Under Pressure to Do Mueller Interview After Kim Summit
(DBN)

Trump's lawyer Michael Cohen expects to be arrested any day now: Reports • Amid Arrest Rumors, Trump Allies Reportedly Just as Worried About Cohen as They Are About Mueller • Cohen, Trump Lodge No Objection to Special Master's Privilege Calls, Defying Early Signs
(DBN)

Stormy Daniels' crowdfunding cash could be seized in Avenatti firm bankruptcy • Avenatti: The Russians Are Trying to Run a Smear Job on Me
(DBN)

The President Is Learning A Hard Lesson In Picking The Right Attorney For The Job
(DBN)

Court documents detail the yard dispute that left Rand Paul with 6 broken ribs
(DBN)

Judge approves AT&T-Time Warner merger • AT&T wins: Judge clears $85 billion bid for Time Warner with no conditions • Wave of mergers seen in wake of AT&T, Time Warner deal • Justice Department weighs appeal in AT&T case it just lost • Reminder: AT&T Paid Cohen A Lot of Money for 'Insights' and Trump Didn't Want Deal to Go Through
(DBN)

Report: Trump administration looks to build tent villages for migrant children • Separating families violates civil rights, won’t work and is inhumane, ABA president says • ICE Came for a Tennessee Town’s Immigrants. The Town Fought Back • The House will vote on DACA solutions next week • Republican lawmakers are deadlocked on an immigration deal, and it's still unclear how they're going to move forward • Trump Administration Launches Effort to Strip Citizenship From Those Suspected of Naturalization Irregularities • How Trump is Trying to Shut Down DACA
(DBN)

Chicago and other major US cities saw drops in crime and murder in 2017
(DBN)

US Customs will return $57,330 seized at airport; immigrant says another $770 is due
(DBN)

Rose McGowen Indicted for Cocaine Possession
(DBN)

American Medical Association endorses gun control
(DBN)

FBI Agent-Dancer Taken into Custody
(DBN)

Gay Americans are arming themselves to stay alive
(DBN)

Law Firm That Served Drinks to Alcoholic Employee Isn't Responsible for Her Death
(DBN)

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Judges:

BK SD FL Seeks Court Administrator - Clerk of Court
(DBN)

Obit: Retired Judge John J. Connelly
(DBN)

Former town justice pleads guilty to helping steal over $11.8M in estate assets
(DBN)

Another ruling by controversial Philadelphia family court judge is overturned
(DBN)

5 facts about the Supreme Court
(DBN)

Judge In Trouble After Affair With Witness In Trial
(DBN)

More White, More Male: Trump’s Demographic Trend for Judgeships
(DBN)

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Wall Street:

US stocks set to open relatively flat ahead of Fed rate decision • US stock futures climb ahead of key Fed decision
(DBN)

US stocks close little changed after Trump-Kim summit
(DBN)

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Layoffs:

Tesla to lay off around 9% of its employees • Tesla to cut 9% of jobs in 'difficult but necessary' reorganization • Elon Musk says 3,600 job cuts required to fuel profits
(DBN)

McDonald's to post $80-$90 million charges for restructuring , layoffs
(DBN)

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Politics:

'Now the real work begins:' Experts weigh in on Trump-Kim nuclear pledge • 'I do trust him' • White House transcript reveals confused exchange between Trump and US officials as they try to figure out whether someone took notes during his meeting with Kim Jong Un • Fact-checking Donald Trump in Singapore about North Korea • We asked 9 Republican senators if it was appropriate for Trump to praise Kim Jong Un • President Trump sits down with George Stephanopoulos • Singapore summit agreement recycles old deals, defers the hard work • Did Trump and Kim Make History? How Summit Document Compares to Past Agreements • Trump toes Kim Jong Un's line in a bizarre press conference on no sleep after the summit • The Trump-Kim summit agreement is exactly what China has been pushing for • Watch Trump’s full speech and Q&A after meeting with Kim • Trump says North Korea will keep its promises, and the US will stop war games • Trump emerges from Kim Jong Un summit a changed man — and a full-blown North Korea apologist • Trump says if he ends up being wrong about Kim Jong Un, he probably won't admit it and will find 'some kind of an excuse' • Republicans cheer Trump's North Korea summit, but worry Kim Jong Un is bluffing • Trump’s surprise move to halt joint exercises in South Korea upends decades of US military doctrine • NKorea: Trump Agreed to Lift Sanctions • Trump Echoed North Korean Propaganda, CIA Analyst Says • Trump: "There is no longer a Nuclear Threat from North Korea" • North Korea plays up U.S. concessions after summit • After summit, Kim Jong Un basks in the glory • Pence says "regular readiness training" to continue in South Korea • 4 winners and 4 losers from the Trump-Kim summit in Singapore
(DBN)

North Korea reportedly wants a 'Vietnam-like' debut to the world economy
(DBN)

Trump insults Mark Sanford, Robert De Niro on his long flight home from Singapore
(DBN)

Why Trump would really, really rather not fire Scott Pruitt
(DBN)

The post-#MeToo reckoning at the Southern Baptist Convention’s annual meeting
(DBN)

Ivanka Trump Mocked After Quoting 'Chinese Proverb' That Isn't Chinese
(DBN)

Republican Candidate Says Diversity 'Un-American' and 'A Bunch of Crap'
(DBN)

Former KKK Leader David Duke To Hold White Nationalist Rally in Tennessee
(DBN)

Republican Sanford loses in South Carolina after Trump urges his ouster
(DBN)

Who Is Behind Anti-Muslim Trump’s Links to Arab Princes? A Billionaire Friend
(DBN)

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Fraud:

How Silicon Valley got played by Theranos
(DBN)

Runaway Billionaire: Meet The CEO Whose Company Descended Into Fraud, Embezzlement and Betrayal
(DBN)

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Non-Profits:

Court approves deal for bankrupt YMCA to keep paying Downtown lease
(DBN)

Wells, Sonnleitner plead not guilty, file for dismissal
(DBN)

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Celebs:

Lil' Kim Sends Positive Message After Filing For Bankruptcy
(DBN)

How the world's fastest man ended up owing $2.3M in taxes
(DBN)

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Brands:

Jasco Keeps Philips License Post-Gibson Bankruptcy
(DBN)

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Economy:

Consumer prices jump 2.8 percent for biggest increase in more than six years • Inflation accelerates to 6-year high, eroding wages • Key Measures Show Inflation increased YoY in May • BLS: CPI increased 0.2% in May, Core CPI increased 0.2%
(DBN)

Fed meets as inflation and economy get stronger, stirring speculation it could increase rate forecast • Jerome Powell needs to answer one key question as the Fed prepares to raise rates again • The Fed is hiking rates Wednesday, but here's what else you need to know • Why your budget will feel the Fed's next rate hike
(DBN)

Growth could be so good Fed may have to crank up interest rates to slow economy: Survey
(DBN)

Consumers Are Getting Deeper in Debt, BofA's Athanasia Says
(DBN)

Americans just paid off a ton of credit-card debt—but here’s the bad news
(DBN)

Federal budget deficit climbs 66% in May
(DBN)

El-Erian: Trump-Kim agreement allows market to focus on more pressing issue of the Fed
(DBN)

'Capitalism may need modernizing,' says billionaire hedge fund manager Paul Tudor Jones • Paul Tudor Jones says rates would be much higher if he were running the Fed • Paul Tudor Jones Has Been Reading Marx Again
(DBN)

ZTE shares tank in Asian markets after it agrees to pay $1.4 billion settlement to the US • ZTE plummets 40% as trading, halted since April, resumes
(DBN)

Sen. Mark Warner said he is “embarrassed” for the United States after President Donald Trump’s performance at the G-7 meeting • Trump May Hit China with Tariffs by Friday • The German Cars Trump Didn't Want • GOP's division on tariffs erupts on Senate floor • Trade Tensions And Threat Of Tariffs Has Led To Lots Of Uncertainty • Trump's trade war could mess up the Fed's plans • Farm-sector depression in play if full-scale trade war breaks out
(DBN)

Small business optimism jumps to second-highest ever; tax cut cited • Small Business Optimism Index increased in May
(DBN)

Congress Under Pressure to Fix New Tax Law
(DBN)

The world's biggest investors are freaking out about massive corporate debt burdens — and their concerns could be foreshadowing the next meltdown
(DBN)

Americans who were ‘scarred’ by the Great Recession changed the way they spend
(DBN)

More than half of Millennials expect to be millionaires someday, according to a new study • Delusional millennials expect to become millionaires despite their massive debt
(DBN)

Teachers Living on the Brink of Bankruptcy
(DBN)

Americans are setting records for charitable contributions
(DBN)

America's Richest Towns
(DBN)

'It's grotesque': As CEOs rake in millions in annual pay, their employees struggle to get by
(DBN)

The Best- And Worst-Paying Jobs In America 2018
(DBN)

Feds Collect Record Individual Income Taxes Through May; Still Run $532.2B Deficit
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

Fannie Mae announces latest winner of non-performing loan sale
(DBN)

Rents are still growing much faster than wages, even as growth cools slightly
(DBN)

Sacramento Housing in May: Sales Unchanged YoY, Active Inventory up 30% YoY
(DBN)

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Oil/Gas:

The Downside Of Six Figure Salaries In The Permian Boom
(DBN)

Did the Rebound in Oil Prices Rescue the Houston Housing Market?
(DBN)

Oil prices are unlikely to increase as 'sharply' from now on, IEA says
(DBN)

What Happened To The IPO Market For Oil And Gas Independents?
(DBN)

______________

Municipalities:

Puerto Rico seeks to delay releasing death records after hurricane; judge rejects motion
(DBN)

Puerto Rico Morgue Overflows With Unclaimed Dead After Hurricane Maria
(DBN)

Sen. Warren blasts FEMA for doing nothing about Puerto Rico’s hurricane death count
(DBN)

We asked Puerto Ricans to tell us Hurricane Maria’s true death toll. Hundreds wrote back
(DBN)

Puerto Rico bondholders balk at deal to divide sales taxes
(DBN)

Puerto Rico GO bondholders will not support COFINA settlement
(DBN)

Puerto Rico's governor is learning hard-fought leadership lessons
(DBN)

"Justice was served": Judge halts school closures in Puerto Rico
(DBN)

How Amazon pressured Seattle to axe its homelessness tax • Seattle Leaders Poised to Scrap 'Head Tax' After Business Backlash
(DBN)

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Corporate Reform:

Mick Mulvaney changed the CFPB’s sign to BCFP
(DBN)

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Healthcare:

Healthcare's Insolvency
(DBN)

Republicans aren't loving the latest ACA lawsuit • Why Health Care Could Be a Disaster for Republicans in November
(DBN)

‘Like Some Kind of Sick Joke’: Dem Blasts Health Sec Who Supported DOJ’s Decision Not to Defend Obamacare
(DBN)

Senior Justice Department attorney quits after Sessions rescinds defense of Obamacare
(DBN)

One in three Americans take meds with depressive side effects: study
(DBN)

______________

Newspapers:

Tampa Bay Times $100 Million in Debt with an Uncertain Future, Says Tell-All Story
(DBN)

______________

Student Debt:

What (Some) Employers and (Some) Schools Are Doing to Help Mitigate the Nation’s Student Loan Problem
(DBN)

Is Trump Making It Easier To Get Out From Student Loan Debt?
(DBN)

ABA asks House members to oppose law ending Public Service Loan Forgiveness program
(DBN)

______________

Auto Racing:

BK Racing to be sold to satisfy creditors
(DBN)

______________

Maritime:

Former OW Bunker manager appeals 18-month jail term
(DBN)

______________

Golf:

Golf courses could turn into lucrative real-estate projects
(DBN)

______________

Lehman:

Credit Suisse gets $385m from bankruptcy claim against failed Lehman Brothers
(DBN)

______________

Food/Beverage:

The Culpability Question in RMH Franchise Bankruptcy
(DBN)

Tops needs more time to restructure. Here's what's left to do
(DBN)

______________

Coal:

Kochs invest in company set to benefit from coal and nuclear bailout
(DBN)

______________

Sports Facilities:

LakePoint officials say bankruptcy could strengthen Bartow sports complex's finances
(DBN)

______________

Biofuels:

EPA Chief: More Ethanol May be Coming
(DBN)

______________

Taxis:

Uber CEO calls for fees on ride-sharing apps to help taxi drivers
(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 (18 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (10 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:

May Commercial Bankruptcy Filings 2008-18
(DBN)

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Mediation:

Ignorance of Mediation Program Availability “Is Not Bliss”: A New Empirical Study
(DBN)

______________

Advisors:

Notice of Appearance: Ted Stenger, Managing Director at AlixPartners LLC
(DBN)

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Discharge:

Second Circuit Rejects Arbitration of Debtor’s Asserted Discharge Violation
(DBN)

______________

Bankruptcy Rules:

Reminder: Bankruptcy Court Discovery Disputes are subject to FRCP
(DBN)

______________

Plan Confirmation:

Disqualifying a Distressed Lender’s Vote? The 9th Circuit Gets it Right
(DBN)

______________

Indenture Trustees:

Delaware Judge Rejects Challenge to Payment of Fees for Indenture Trustee in Southeastern Grocers Chapter 11 Case
(DBN)

______________

Litigation:

Litigants Have to Disclose Insurance, Does That Mean Litigation Financing Should be Disclosed, Too?
(DBN)

______________

Tax:

Tax Relief Under Tax Cuts & Jobs Act? Not for Debtors
(DBN)

______________

Retailing:

Sears expands Auto Center partnership with Amazon to more stores • Sears shares up 8% after it expands Amazon partnership to 118 Auto Centers
(DBN)

Retailers Closing the Most Stores
(DBN)

More creditors give Steinhoff breathing space • Steinhoff's Dutch shareholders file lawsuit against Deloitte
(DBN)

Malls Sound Like A Great Idea, But People Are Giving Up On Them • Owners of fading malls 'on their knees' as buyer pool evaporates
(DBN)

Claire's unsecured creditors rail against bankruptcy plan
(DBN)

______________

Autos:

Used-car prices rise to a record, and sedans are partly to blame
(DBN)

Elon Musk admits Tesla will have to turn a profit one day
(DBN)

Millions still driving with recalled Takata airbags
(DBN)

______________

Climate:

U.S. sets records for warmest 3, 4, and 5-year periods
(DBN)

Houston after Harvey should be a national priority. Trump made us a punchline
(DBN)

______________

Marijuana:

Hydroponics chain works to emerge from bankruptcy
(DBN)

______________

Festivals:

Infamous festival promoter faces new charges
(DBN)

______________

UK:

FCA claws inheritance from jailed bankrupt fraudster
(DBN)

Insolvency Service Enforcement Outcomes: 2018/19
(DBN)

Insolvency changes to avoid next BHS could force more liquidations say business groups
(DBN)

Scotland legend James McFadden turns to family in bankruptcy battle after being hauled into court
(DBN)

PwC partner faces fine, 15-year ban over BHS audit-source • PwC fined record £6.5m over BHS audit • PwC, ex-partner Denison fined over audit of UK's BHS
(DBN)

Financial services expected to have record job cuts
(DBN)

EU officials have privately rejected Labour's Brexit policy as unworkable 'cakeism' • Brexit chaos after Leavers deny Remainers’ claims PM will allow them to veto a ‘no-deal’
(DBN)

Four Seasons owner says unable to pay coupons on 525 million pound of company debt
(DBN)

______________

EU:

Eurozone industrial production resumes its slide
(DBN)

______________

PIIGS:

Peter Morici: Should U.S. tremble before Europe? No, just look at Italy
(DBN)

______________

Canada:

Canada condemns Trump, Navarro attacks on Trudeau • Navarro apologizes for "inappropriate" Trudeau comment
(DBN)

GOP Backs Canada After Trump Attack: 'A Reliable Ally, a Close Friend'
(DBN)

How the Redwater Case Makes the Orphan Well Crisis Much Worse for Alberta
(DBN)

Top GOP senator says Kim Jong Un better not cross Trump, because 'look what happened to Canada'
(DBN)

______________

Germany:

Less but bigger corporate insolvencies in Germany: official figures
(DBN)

______________

India:

Which sectors top the list of distressed companies facing insolvency ?
(DBN)

Operational creditors seem to be the biggest gainers so far of the introduction of bankruptcy law
(DBN)

What’s great about Modi’s IBC war on NPA? Top banker Uday Kotak has this to say
(DBN)

If at first you don't succeed… Govt mulls selling 100% stake in Air India
(DBN)

Status Report: A year after, NCLT resolves only 2 cases out of 12 referred • One year of resolving big defaults: Post RBI diktat, glass half full
(DBN)

Opportunities from India's bankruptcy regime
(DBN)

______________

Australia:

Uncertainty of contract – the ‘safe harbour’ and corporate insolvency amendments
(DBN)

______________

MENA:

Creditor starts legal proceedings for Abraaj restructuring • Abraaj expected to file for provisional liquidation by month's end • Abraaj subject of legal proceedings by second creditor • Abraaj moves to fend off winding-up orders
(DBN)

______________

Malaysia:

Malaysia’s king says he’ll take a 10% pay cut as citizens crowdfund $15 million to help pay off the nation's staggering debt
(DBN)

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