June 14, 2018

The Daily Bankruptcy News

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Law:

Sullivan & Cromwell Matches Salaries… We Think Paul Weiss Makes Their Compensation Statement Starting Law Firm Associate Salaries Hit $190,000 Salary Wars 2018: The Must-Read Scorecard On Pay Scales And Bonus Bucks Salary Increases Could Lead To The Ruin Of Many Law Firms Quinn Emanuel Is Quick To Fall In Line With New Market Salaries Small Law’s Big Thank You To Biglaw For Raising Associate Salaries
(DBN)

UnitedLex and LeClairRyan Announce Innovative New Law Venture Will LeClairRyan's UnitedLex Deal Be the Accelerant Big Law Innovation Needs? US law firm joins forces with UnitedLex to disrupt traditional law firm model
(DBN)

Arbitration And Harassment Policies At 200 Law Firms
(DBN)

The Biglaw Firm With Plummeting Revenue
(DBN)

ABA, Cooley Law School May Be Headed To Settlement In Accreditation Lawsuit
(DBN)

New Firm Ripped Off Lawyer's 'Sterling' Reputation: Suit
(DBN)

How to Succeed In-House (While Really Trying): 5 Tips From Legal Leaders
(DBN)

Recent Law School Graduate Goes On Welfare Because Of Inability To Find Job
(DBN)

Law School In Trump’s America
(DBN)

Yes, White Men Can Apply Too: Brown Rudnick just debuted a diversity fellowship open to all 1Ls who are the first in their family to go to college
(DBN)

How Global Biglaw Titans Are Demolishing Local Firms… And How To Survive The Onslaught
(DBN)

Lawyer pasted more than 1,000 words into his legal brief without attribution, opposing lawyers say
(DBN)

How to Execute a Legal Project
(DBN)

AI improves efficiency significantly for law firms
(DBN)

Ex-Locke Lord Partner Faces Financial Fraud Charges In UK
(DBN)

Florida International Law School's Bar Exam Secret Sauce
(DBN)

Which law firms spend the most on their staff?
(DBN)

Michael Avenatti’s Ex-Colleague Seeks Assets to Satisfy $10 Million Bankruptcy Award O.C. Lawyer Asks Judge to Seize Stormy Daniels’ Crowdfunding Cash in Avenatti Firm Bankruptcy
(DBN)

Report: McDermott Will & Emery Is Done With Michael Cohen McDermott is reportedly parting ways with client and Trump personal lawyer Michael Cohen Cohen's Attorneys Expected to Stop Representing Him George Stephanopoulos: Michael Cohen likely to cooperate Michael Cohen expected to lose defense lawyers and likely to cooperate with prosecutors: report Trump's biggest nightmare in the Russia investigation may be about to come true Experts explain why Michael Cohen would make the surprising decision to break up with his lawyers — and if he's signaling he may be ready to flip Cohen Spilling the Beans to the Feds Could Affect Mueller's Investigation in a Major Way Trump Reportedly ‘Fuming’ About Cohen But Hasn’t Said Anything for This Reason
(DBN)

George Conway defends Robert Mueller’s investigation Mueller’s favorability is at a record low Special counsel Mueller reveals new evidence of Paul Manafort's US lobbying efforts for Ukraine Court Docs Reveal Witnesses Against Manafort Special counsel filing accidentally includes unredacted witness names The Mueller Indictments Still Don’t Add Up to Collusion White House counsel McGahn recused his office from Mueller probe Mueller Seeks More Subpoenas Ahead of Manafort Trial
(DBN)

Report Expected To Condemn FBI Violations In 2016 Clinton Email Investigation Stage set for bombshell IG report on Clinton email case: Who's in the crosshairs? A politically weaponized FBI is nothing new, but plenty dangerous
(DBN)

Sessions on cake decision: "There are plenty of other people to bake that cake"
(DBN)

Senate Judiciary Committee takes up #MeToo in the courts Real estate mogul Sam Zell made another offensive comment about women recently, source says Bill Cosby's Wife Has Moved Out Guess' Paul Marciano resigns after conduct investigation
(DBN)

Sobering photos show a Texas detention center where migrant children are held, and a mural of Trump is painted on a wall GOP bill would stop separation of children and parents at border
(DBN)

Justice Department intervenes in freedom-of-speech case at university
(DBN)

Florida Man Threatens to Burn Down Home Bought by Muslim Family, Going To Prison
(DBN)

More trouble for NYC Uber driver who kicked lesbian couple out of car
(DBN)

First guilty plea in Penn State frat death
(DBN)

Cop Resigns After Being Recorded Calling Man ‘A Piece of S--- N-----’
(DBN)

Apple to close iPhone security loophole used by police to access devices
(DBN)

Man barraged ex with 4,000 texts after breakup
(DBN)

Harvard president says admissions data used by lawsuit plaintiffs is taken out of context
(DBN)

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Judges:

BK DE: Updated General Chambers Procedures, Telephonic Procedures and Use of Court Equipment for Hearings
(DBN)

BK AZ Seeks Case Administrator (Tuscon)
(DBN)

BK WD NC: Flowe selected to serve as clerk for bankruptcy court
(DBN)

On Stage at Cravath: 'Fast Times at Ruth Bader Ginsburg High'
(DBN)

Senate Committee Questions Judiciary's Anti-Harassment Efforts After Kozinski Scandal Senator Pissed That Basically Nothing Bad Happens To Retired Federal Judges Accused Of Harassment
(DBN)

Few Repercussions for Retired Judges Accused of Harassment
(DBN)

Judge reprimanded for posting comment about murder case on Facebook
(DBN)

Liberal group launches ads attacking Trump’s potential Supreme Court picks
(DBN)

Watching 'Making a Murderer' at the US Supreme Court
(DBN)

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Wall Street:

U.S. stock futures in holding pattern as attention turns to possible policy shift at ECB US stocks set to open lower as central banks tighten policy
(DBN)

Stocks Close Mostly Lower After Fed Hikes Rates
(DBN)

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Layoffs:

Rolls-Royce to cut 4,600 jobs to save $536 million a year
(DBN)

H&R Block Closing 400 Locations
(DBN)

Inside the dismantling of GE
(DBN)

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Politics:

Pompeo: U.S. Wants 'Major Disarmament' of North Korea During Trump's Term Trump says massive concession to North Korea on war games is a bargain for the US military Kim Jong Un Offers to Host Peace Talks Between United States and Canada :) Trump and Kim Stir Confusion About What They Actually Agreed To Trump emerges as a star in North Korean propaganda after the summit with Kim Jong Un Trump is set for embarrassment or glory on North Korea — but if Kim crosses him, all hell could break loose Donald Trump Actually Seems to Believe He Denuclearized North Korea Is North Korea no longer a nuclear threat? A reality check Pompeo berates reporter for asking about verifying denuclearization Pompeo says North Korea sanctions to remain in place until complete denuclearization
(DBN)

Inside Trump's playbook for dealing with foreign leaders
(DBN)

Trump's not the first president to abandon human rights. Just ask Obama.
(DBN)

Scott Pruitt's growing list of bizarre scandals Senator Inhofe issues sharp warning to Scott Pruitt, seeks meeting Scott Pruitt Should Go Why is Trump Protecting Scott Pruitt?
(DBN)

Giuliani's Son Loses West Wing Access
(DBN)

Nevada’s most notorious p--- wins Republican primary
(DBN)

The final GOP holdouts to Donald Trump whimper into oblivion
(DBN)

Maine Tests New Way to Vote and Likes It
(DBN)

Sarah Sanders, Raj Shah planning to depart the White House
(DBN)

The real motivation behind Trump's pardon frenzy
(DBN)

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Student Debt:

An Orthodontist’s One Million Dollar Student Loan Debt Exposes The Good, The Bad, And The Ugly About Income Based Repayment Programs
(DBN)

You Can Lose Your Law License After Defaulting On Student Loans, And That’s Messed Up
(DBN)

Try this trick to shave thousands off your student loan
(DBN)

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Economy:

Fed raises interest rates, expects 2 more hikes this year Here's what the Fed rate hike actually means to you FOMC Statement: 25bps Rate Hike Here's what changed in the new Fed statement Fed's 'dot plot' points to four rate hikes this year, up from the three previously expected Dow falls nearly 120 points after Fed hikes rates, points to more increases in 2018 Fed steps closer to horns of interest-rate dilemma Borrowing Costs Climb Along With Fed Rate Increases The Fed's new interest-rate path could have the US staring at a recession by the end of next year Fed Raises Rates, Recession Risk To Rise In Response US bond yields indicate recession as interest rates rise
(DBN)

As Fed jacks up rates, bond market warns of potential for economic weakness
(DBN)

Fed raises 2018 outlook for US economy
(DBN)

Most Americans' Wage Declined in Past Year Wage Growth Tracker
(DBN)

The Fed just announced a big change to how it communicates with America
(DBN)

May producer prices jump in the biggest annual increase in nearly 6 1/2 years
(DBN)

Alan Greenspan on trade: The notion that foreigners are ripping us off is 'nonsense' Fed's Powell: Some companies say they are holding back on investment due to Trump's trade conflicts Trump FactCheck: "Canada charges the U.S. a 270% tariff on Dairy Products! They didn’t tell you that, did they? Not fair to our farmers!" UK leader Theresa May says 'special relationship' with the US means there can also be disagreements Lawmakers Try to Restore US Ties to Canada Democrats pounce on Trump trade war in midterms U.S. Preparing to Proceed With Tariffs on Chinese Goods Dude, Where's My Trade War? Markets shrug off Trump trade war Which countries are most at risk from a trade war ? U.S. may impose tariffs against China as soon as Friday China is booming, but next comes Trump's tariff verdict Trump to decide whether or not to hit China with about $50 billion in tariffs US trade relations at a low, as China set for new tariffs and amid fears Trump will leave NAFTA Trump Was Right and the G7 Was Wrong
(DBN)

GOP Rep. Kevin Brady: NAFTA allies 'close enough' on talks, should be able to reach deal
(DBN)

White House opposes Senate measure to block Trump's deal to save China's ZTE ZTE , Trump, and China: Here's What the Fuss Is All About ZTE seeks $11bn line of credit in bid to recover from US clash
(DBN)

New Jersey Faces Looming Costs of Corporate Tax Incentives
(DBN)

U.S. Budget Deficit Widens 23% on Weak Revenue Growth
(DBN)

Capitalism is killing the planet and needs to change, says investor Jeremy Grantham
(DBN)

Larry Kudlow discharged from hospital following heart attack
(DBN)

A Surprisingly Uncontroversial Program That Gives Money To Poor People
(DBN)

Most-common Ohio jobs don’t pay enough to cover rent
(DBN)

Maps Visualize Population Distribution in a Unique Way
(DBN)

The No. 1 skill LinkedIn says workers lack
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Disallowed Claims and Lien Stripping: Plain English May Not Be Sufficient to Win the Day
(DBN)

"Mortgage Rates Higher Following Fed Forecasts"
(DBN)

Weekly mortgage applications drop 1.5% as rates turn higher again
(DBN)

Housing Inventory Tracking: The Bottom Turn
(DBN)

Homebuilder stocks drop after report on weaker order trends
(DBN)

What You Have to Earn to Rent a Modest 2-Bedroom, Mapped
(DBN)

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Municipalities:

Puerto Rico After The Hurricanes: Investors And Bitcoin Cowboys Are Circling
(DBN)

Puerto Rico asks buyers of rickety power system to rewrite rules
(DBN)

Go after the vultures circling around Puerto Rico
(DBN)

Bill to privatize Puerto Rico power utility doesn't factor in its bankruptcy
(DBN)

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Oil/Gas:

Second Circuit Affirms Debtors’ Ability to Reject Gathering Agreements in Bankruptcy Cases
(DBN)

Trump criticizes OPEC again for high oil prices; 'Not good!' Trump renews fight with OPEC over 'too high' oil prices
(DBN)

The Permian Basin in Texas and New Mexico will soon become the third-biggest oil producing region in the world: IHS Markit
(DBN)

Venezuela, Iran oil output could slump by almost one-third, says IEA Venezuela Won't Have Enough Oil To Export By 2019 Russia To Propose Rolling Back 1.8 Million Bpd Of Oil Cuts
(DBN)

IEA: Oil Prices Could Rise Further As Shale Can’t Fill The Gap
(DBN)

EU Awash with Oil Stored Offshore on Ships
(DBN)

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Taxis:

Lincoln taxi company goes bust
(DBN)

Uber hails our good idea to bail out bankrupt taxi drivers
(DBN)

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Farming:

Tillamook subsidiary files lawsuit against troubled Oregon dairy
(DBN)

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Biotech:

New Chapter 11 Filing - ABT Molecular Imaging Inc. Filing Alert: ABT Molecular Imaging Files for Chapter 11 Bankruptcy Protection
(DBN)

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Lehman:

Lehman settles $1.2 bln suit with Credit Suisse
(DBN)

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Celebs:

New Jersey police release bodycam footage of Lenny Dykstra's arrest
(DBN)

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Radio:

Former NPR head helped save ailing radio network
(DBN)

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Religion:

Police raid Catholic Church in Chile amid child abuse scandal
(DBN)

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Newspapers:

The death of newspapers
(DBN)

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Solar:

Local officials pushing for progress regarding defunct Hoku plant
(DBN)

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Aviation:

Significantly Higher Fuel Prices Should Be Pushing Air Fares Up Yet They Remain Stubbornly Low
(DBN)

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Healthcare:

Risk experts: Trump rules are raising premiums
(DBN)

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Climate:

Antarctic Ice Loss Triples in Past Decade
(DBN)

Hot, dry conditions fuel wildfires in the West
(DBN)

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New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

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

Recent Ch. 11 Adversary Proceeding Filings (16 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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Litigation:

Legal finance, the unwritten story
(DBN)

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Corporate Governance:

Chancery Describes Fiduciary Duty of Loyalty and Remedies Available for Breach
(DBN)

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Discharge:

U.S. Supreme Court finds Debt obtained by False Promises to Pay, Dischargeable
(DBN)

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Coal:

Power Regulators Say There Is No Emergency in U.S. Fuel Supply
(DBN)

Trump Wants to Bail Out Coal and Nuclear Power. Here’s Why That Will Be Hard
(DBN)

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Travel:

Airlines to passengers: If you don’t mind, please stop stealing our stuff
(DBN)

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Corporate Reform:

George Mason's Todd Zywicki Emerges as a Leading Pick for CFPB Director
(DBN)

Trump expected to name permanent CFPB director next week
(DBN)

14 AGs push back to keep CFPB complaint database publicly available
(DBN)

Former Banker, Now Regulator Wants To Allow Banks To Make Payday-Style Loans
(DBN)

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Retailing:

The Demise of Toys 'R' Us Is a Warning
(DBN)

Toys R Us Marks Down Merchandise Ahead Of Closures
(DBN)

The Walking Company Chapter 11 Plan of Reorganization Approved by U.S. Bankruptcy Court in Delaware
(DBN)

San Antonio retailer moving to exit bankruptcy
(DBN)

A Macy’s goes from mall mainstay to homeless shelter
(DBN)

Claire's Stores, Inc. Reports Fiscal 2018 First Quarter Results
(DBN)

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Electricity:

Firm studies impact of rate cuts on SCE&G, avoids bankruptcy question
(DBN)

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Fraud:

Madoff customers' recovery tops 75 percent with Merkin settlement Madoff Trustee Reaches Recovery Agreement With Ascot Partners, Ascot Fund, J. Ezra Merkin, And Gabriel Capital Corporation
(DBN)

Calling Something A Ponzi Scheme May Or May Not Enjoy First Amendment Protection In Texas
(DBN)

Fyre Festival founder Billy McFarland arrested on new fraud charges
(DBN)

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Auto Racing:

NASCAR Team BK Racing Goes up for Sale
(DBN)

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Autos:

In a memo laying off thousands of employees, Musk concedes he can’t achieve his mission unless Tesla can become profitable Elon Musk just bought another $25 million in Tesla stock
(DBN)

GM becomes first major auto company in history to have a female CEO and a female CFO
(DBN)

Positive signs for delinquency in Q1
(DBN)

Auto Parts Manufacturers Are Hurt By Tariffs, Rising Metal Prices
(DBN)

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UK:

Scots Walk Out of Parliament Over Brexit
(DBN)

FRC asked to widen probe into PwC’s BHS audits Taylor Wessing leads as PwC receives record £6.5m fine for BHS audit misconduct
(DBN)

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EU:

Why is the ECB facing a ‘close call’ on when to start winding down QE?
(DBN)

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PIIGS:

How Italian turmoil in the bond markets could spark a domino effect across Europe
(DBN)

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India:

Bankruptcy litigation taking focus away from resolution process, says President of MN Dastur & Co
(DBN)

Heading for liquidation? No bidders for Monnet Power
(DBN)

Why the idea of a bad bank may not work for NPAs resolution
(DBN)

Air India sale: Now, government says IPO an option
(DBN)

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MENA:

Scorpio's debt woes deepen
(DBN)

UAE's Jafar family behind lawsuit against Abraaj on $100 mln loan default -sources
(DBN)

Saudi Arabia's Ambitious Economic Overhaul Hinges On Reducing Its Oil 'Addiction'
(DBN)

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Venezuela:

Venezuela’s Biggest Airport Is in Free Fall
(DBN)

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Australia:

Cash-flow problems put leading Australian national art gallery at risk of insolvency
(DBN)

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Romania:

IMF warns on Romanian banks’ vulnerability
(DBN)

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China:

China's industrial output in May was weaker than expected
(DBN)

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