March 13, 2018

The Daily Bankruptcy News

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Law:

Latham Expands Bankruptcy and Restructuring Practice with Prominent New York Hire • Latham Lands O'Melveny Partner as New Bankruptcy Co-Leader • Latham Taps Restructuring Co-Chair from O’Melveny
(DBN)

Winston & Strawn's Record Year Sees Revenue Rise 19 Percent
(DBN)

Alston & Bird Racks Up Big Gains in Revenue, Profit
(DBN)

Go-To Law Schools: Tuition
(DBN)

Quinn Emanuel Loses Early Bid to Throw Out Race Bias Suit
(DBN)

Big Law's at the Trade Table in Trump Administration
(DBN)

Network of Boutique Law Firms Goes Global to Serve General Counsel
(DBN)

What's So Hot About Texas? For Law Firms, Apparently Everything
(DBN)

How Law Firms Can Be More Efficient And Drive Profit
(DBN)

Allen & Overy gender pay gap report: 71% of firm's lowest earners are women
(DBN)

I'd Be an 'A' Student if I Could Just Read My Notes - Professors are banning laptops in class, driving college students to revert to handwriting
(DBN)

Trump just backed off a key proposal on gun control • Trump says 'expert' teachers will be allowed to carry guns — here's what the research tells us about schools with guns • Trump’s strong words on guns give way to political reality • DOJ issues action that punishes people who lie to purchase a gun
(DBN)

Trump’s Lawyers Seem to be Getting Desperate • Britain Accuses Russia of Poisoning—and Trump Stays Silent • House intelligence panel's Russia investigation reportedly finishes interviews, nears conclusion • Mueller invokes unusual ‘conspiracy to defraud government’ charge to ensnare more targets • • Qatar reportedly says it has unearthed damaging information on Jared Kushner — but didn't give it to Mueller because it's scared of Trump • House Republicans say they've found no evidence of collusion in one of the big 3 Russia investigations
(DBN)

Stormy Daniels offers to repay hush money so she can talk about alleged affair with Trump • Trump 'Offered Stormy Daniels a Spot on The Apprentice'
(DBN)

Judge rules victims of Yahoo data breach can sue
(DBN)

How Psychopaths See the World
(DBN)

Elderly Woman Allegedly Could Not Stop Hiring Hit Men
(DBN)

He may not be in prison, but the disgraced Harvey Weinstein is living a life in purgatory • Study: Women Wearing Low-Cut Tops In Application Photos Are 19 Times More Likely to Land a Job Interview • Microsoft women filed 238 internal discrimination and harassment complaints between 2010 and 2016
(DBN)

3rd deadly package bomb explodes in Austin amid major SXSW conference • Federal authorities join Austin police in probe of fatal bombings
(DBN)

GA: Killed Her Daughter in Law Over Divorce
(DBN)

O.J. Simpson Reportedly Earned Millions for His Hypothetical Murder Confession
(DBN)

More U.S. College Students Say Campus Climate Deters Speech
(DBN)

Pair Accused of Waterboarding Daughter Reach Plea Deal
(DBN)

7 surprising reasons people have gotten arrested on purpose
(DBN)

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Judges:

BK RI: Closed For Weather • BK CT: Hearings Canceled • BK MA: Closed • BK NH: Closed
(DBN)

Deadline For Application Extended - Bankruptcy Judge Vacancy Fort Worth, Texas
(DBN)

Judge Goes Off on Kobach Witness
(DBN)

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Wall Street:

U.S. stock futures tiptoe higher with inflation data in focus
(DBN)

European stocks edge higher in countdown to U.S. inflation data
(DBN)

Dow, S&P 500 turn negative, under pressure as industrials stocks lag • Stocks end mixed as Nasdaq notches fresh record • Dow closes more than 100 points lower amid lingering trade-war worries
(DBN)

Goldman Sachs Puts David Solomon in Line to Be Next CEO • Goldman Succession Plan Accelerates as a CEO Contender Retires • It just became a lot clearer who will replace Lloyd Blankfein at the top of Goldman Sachs • As Toys “R” Us Collapses, Walmart Massive Toy Business Thrives
(DBN)

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Layoffs:

Coming Soon to a Front Porch Near You: Package Delivery Via Drone
(DBN)

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Non-Profits:

IRS Guidance Removes Obstacle to Restructuring Tax-Exempt Organizations
(DBN)

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Currency:

Goldman Sachs: Risks are rising that bitcoin will fall through its February lows
(DBN)

Crypto investors are hopeful that Mt Gox's bitcoin sell-off will be halted until September
(DBN)

Hacked Japanese cryptocurrency exchange Coincheck refunds customers
(DBN)

Central Banks Warned on Bitcoin Bandwagon
(DBN)

Cryptocurrencies must be made subject to insolvency law
(DBN)

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Travel:

Dallas-Bound Flight Makes Emergency Landing in Albuquerque Due To Possible Electrical Fire
(DBN)

A new tool uses legal loopholes to get you cheaper flights by checking prices 17,000 times a day
(DBN)

How consumer protections for air travelers could change under Trump administration
(DBN)

It’s buyer beware as big airlines embrace ‘basic economy’ fares
(DBN)

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Personal Finance:

Behavioral economists have calculated the best ways to pay off your debt
(DBN)

When helping your kids with a downpayment on a house is a bad idea
(DBN)

What would you do with a $500 windfall? Most people’s reactions may surprise you
(DBN)

Are you at risk of retiring broke? If you are, you’ve got company.
(DBN)

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Radio:

iHeartMedia Admits It Has No Deal With $20B In Creditors, Bankruptcy Deadline Looms
(DBN)

iHeartMedia Bankruptcy Delayed For Awards Show
(DBN)

What To Look For In A Deal To Rescue iHeartMedia From A Breakup
(DBN)

iHeartMedia Struggles to Agree With Creditors on Details of Potential Debt Roadmap
(DBN)

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Distressed Investing:

Lynn Tilton's Zohar Funds File Bankruptcy to Stop MBIA Suits • 'Diva of Distressed' throws her funds into bankruptcy • New York financier Lynn Tilton puts Zohar funds into bankruptcy
(DBN)

A puzzle persists in high-yield bond pricing
(DBN)

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Fraud:

Madoff & Co.—Recoveries from the Biggest Ponzi Schemes
(DBN)

Plan would have given Siskey victims millions, but they’ll have to wait, judge rules
(DBN)

California man admits to running $24 million real estate Ponzi scheme
(DBN)

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Credit Reporting:

Capital One Sued For Checking Credit Info Post- Bankruptcy
(DBN)

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Student Debt:

Senate Banking Bill Could Give Student Loan Borrowers New Flexibility
(DBN)

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Bankruptcy Crimes:

Richmond lawyer sentenced to 12 months in bankruptcy fraud and tax case
(DBN)

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Celebs:

Even Celebrities Have Money Worries
(DBN)

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Autos:

GM Plans to Launch Airbnb for Your Car
(DBN)

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Environmental:

Ninth Circuit Weighs In On Circuit Split Regarding CERCLA Contribution Claims After Settlement And The Statute Of Limitation
(DBN)

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Economy:

Larry Kudlow may interview for White House economics job this week • The front-runner for chief White House economic adviser has bad policy instincts • Reports: Kudlow leading candidate for top Trump economic post • Dow retains losses amid report that Kudlow will interview as possible Cohn replacement • Larry Kudlow's former boss thinks he would be the 'wrong voice' to replace Cohn at the White House
(DBN)

All Eyes on U.S. CPI
(DBN)

BLS: Unemployment Rates Lower in 6 states in January; Alabama, California, Maine and Mississippi at New Series Lows
(DBN)

Surging small-business sentiment closes in on Reagan-era record
(DBN)

Brookings Papers on Economic Activity, Spring 2018 Edition
(DBN)

What They Owe: The Many Faces of American Debt
(DBN)

Dollar slips as traders bet Fed won’t get aggressive with rate hikes
(DBN)

OECD urges ‘dialogue’ on steel overcapacity to avoid a trade war • Brookings: The Trump administration’s trade tariffs • To Be Clear, Trump’s Tariffs Were Not ‘Produced by Purdue University’ • The EU could join forces with countries outside Europe to strike back against Trump tariffs • Republican senator puts forward bill to quash Trump's new tariffs • Ross Wants EU to Lower Its Trade Barriers • China: US Trade War Will Bring Disaster • The obsolete number that drives Trump’s China obsession and how to fix it • How ‘trade’ became a dirty word in the White House — and parts of America • This Trump fan would like to ‘buy American.’ So why doesn’t he? • Trump’s tariffs ‘not going to have a big effect,’ says Boston Fed president
(DBN)

Current State Unemployment Rate vs. 2007 Recession
(DBN)

Turns out the ‘great inflation scare of 2018’ didn’t happen. Wages still not rising rapidly
(DBN)

Companies are putting tax savings in the pockets of shareholders —share buybacks are double what they were a year ago
(DBN)

U.S. federal budget gap widens U.S. Federal Budget Gap Widens as Fiscal Income Declines • U.S. February budget report shows first signs of wider deficits to come • US: Largest Monthly Deficit in Six Years • Bloomberg: U.S. posts biggest budget deficit since 2012
(DBN)

There's a suspicious burst of taxi rides to and from Wall Street banks and the New York Fed around the time of key Fed meetings
(DBN)

Trump wants a 'phase two' of tax cuts
(DBN)

Trump Scoreboard shows fastest jobs growth of his presidency
(DBN)

The Financial Whisperer to Trump’s America
(DBN)

The overheating economy could crash in 2019, this top forecaster says
(DBN)

Are You Underpaid? U.S. Firms Reveal How Much They Pay Workers
(DBN)

The race to replace Gary Cohn as Trump's top economic adviser is heating up — and 2 big names have become the frontrunners
(DBN)

People are freaking out about a trade war — but the stock market is saying something else
(DBN)

Trump Tariffs May Threaten U.S. Auto Jobs, European Executives Warn • These Companies Are America’s Biggest Losers in a Trade War • The U.S. is almost guaranteed to have large trade deficits year after year
(DBN)

Canada’s PM Trudeau: Our Trump tariff exemption has nothing to do with NAFTA talks • US is making a 'big mistake' in how it's treating Canada on NAFTA: Former ambassador
(DBN)

Trump has created an international 'free-for-all' that could cause huge waves in the global economy
(DBN)

Broadcom vs. Qualcomm — how it went from hostile bid to a Trump blockade • Trump blocks Broadcom bid to buy Qualcomm, citing national security • Here are the real reasons Trump blocked Broadcom's Qualcomm takeover • Trump’s Message in Blocking Broadcom Deal: U.S. Tech ‘Not for Sale’
(DBN)

Hotels: Occupancy Rate Up Year-over-Year
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Senate is poised to roll back rules meant to root out discrimination by mortgage lenders
(DBN)

CFPB issues final rule on periodic statements during bankruptcy • CFPB finalizes amendments to timing requirements for bankruptcy periodic statements • CFPB’s new rule helps mortgage servicers communicate with borrowers in bankruptcy • CFPB Provides Some Relief to Mortgage Servicers Communicating with Borrowers, But Questions Remain
(DBN)

FHA and VA extend foreclosure moratoriums on certain disaster areas
(DBN)

By word and by deed, Ben Carson is abdicating HUD’s historic responsibilities
(DBN)

Distressed NYC Homeowners Find Help—From City Hall
(DBN)

El Paso: Abraham bankruptcy : Creditors want liquidation
(DBN)

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Municipalities:

Fairfield files claim for return of transit funds, citing 'risk of [bond] default'
(DBN)

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Oil/Gas:

Bankruptcy Judge Rejects Breitburn Plan, And Other Dynamic Bankruptcy News
(DBN)

Judge Rejects Breitburn Ch. 11 Plan But Gives Path Forward
(DBN)

Breitburn reaches bankruptcy exit deal with holdout creditors
(DBN)

A new chapter for Harvey Gulf: Chapter 11
(DBN)

Oil prices settle lower as EIA data point to further gains in U.S. shale output • Oil prices dip on relentless rise in US crude output
(DBN)

Oil Rigs "Big rig drop, another inflection point"
(DBN)

U.S. shale oil output forecast to climb by 131,000 barrels a day in April: EIA
(DBN)

Energy sector is not out of the woods, portfolio manager warns
(DBN)

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Politics:

Trump looks to have backed down China and Kim Jong Un with his madman strategy toward North Korea • Give Trump Credit for the North Korea Opening • Here’s how Trump’s summit with North Korea could succeed • While Trump talks up his big meeting with North Korea, Beijing watches — and waits
(DBN)

Elizabeth Warren Says She Isn’t Running for President in 2020
(DBN)

A cabinet full of trouble
(DBN)

Trump's education secretary chided him for calling NBC's Chuck Todd 'a sleeping son of a b----'
(DBN)

Trump welcomes Houston Astros to the White House
(DBN)

Silence from North Korea since Trump accepted Kim's invitation
(DBN)

YouTube Is Pushing Americans to the Political Extremes
(DBN)

Liberals have 'hatred for our country' and 'hatred for God': Republican candidate slams Democrats on the eve of Pennsylvania's special election • This is what's at stake for Trump and Congress in the deadlocked Pennsylvania special election • Democrat Conor Lamb seizes the lead in tight Pennsylvania special election, poll says • The special House election in Pennsylvania is full of bad omens for Trump and the GOP
(DBN)

No Trump Zone: Only two of 23 vulnerable Republicans want him
(DBN)

Trump Jr. has partnered with major donor with White House access
(DBN)

When the President of the United States Calls You a ‘Son of a B-----’
(DBN)

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Retailing:

If Toys R Us goes away, where will shoppers go? • How Toys R Us got to the brink of liquidation • Toys R Us still sells lots of toys. Here's why it's going under • Toys 'R' Us liquidation threatens to curb toymakers' innovation
(DBN)

Bankrupt Bon-Ton Stores races to find life-saving deal • Some vendors trying to save bankrupt Bon-Ton Stores, attorney says
(DBN)

Long live Claire's, which taught America's preteens the art of self-expression
(DBN)

Declining Brand Loyalty, Debt Among Issues in Retail Bankruptcies
(DBN)

The retail resurgence this year is deceptive, warns market watcher
(DBN)

Dead Malls Are Alive and Well in Wall Street's CLO Machine
(DBN)

Declining Brand Loyalty, Debt Among Issues in Retail Bankruptcies
(DBN)

Whole Foods to meet with disgruntled suppliers
(DBN)

Mall owner to acquire four Sears stores
(DBN)

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Biofuels:

Pruitt may limit ethanol market traders
(DBN)

Bankrupt Philadelphia refiner settles biofuel obligation with EPA -court filing
(DBN)

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Awards:

ABI Selects Nelson Mullins’ Shane Ramsey as Co-Chair of Business Reorganization Committee
(DBN)

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Circuses:

This orthopedic surgeon loved the circus so much, he bought one
(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 (17 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)

Bankruptcy Jobs:

(1) • (2) • (3) •(4)• (5) • (6) • (7) • (8)
(DBN)

Seminars - (Contact us to list your seminar)

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Bankruptcy Statistics:

February Total Bankruptcy Filings Decrease 3 Percent from Previous Year, Chapter 11s Up Slightly
(DBN)

BK CD CA: Filings so Far in 2018 About the Same as Last year
(DBN)

Weekly Bankruptcy Claims Trading Activity
(DBN)

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Safe Harbors:

Supreme Court Clarifies Securities Safe Harbor Under Bankruptcy Code
(DBN)

Supreme Court Limits Safe Harbor Defense in Bankruptcy "Clawback" Suits
(DBN)

Supreme Court Scales Back Safe Harbor Protection for Some Pre-Bankruptcy Fraudulent Transfers
(DBN)

Supreme Court Narrows Applicability of Bankruptcy Code's Safe Harbor for Securities-Related Transfers
(DBN)

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Make-Whole:

Podcast - Credit Funds: Make-Wholes and Cramdowns: Understanding the Recent Second Circuit Momentive Decision
(DBN)

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Committees:

Delaware Organizational Meeting – The Walking Company, Inc.
(DBN)

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IP:

Trademark Licenses and Intellectual Property Distribution Rights in Bankruptcy
(DBN)

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SCOTUS:

On Friday SCOTUS To Consider Whether To Hear Case On Bankruptcy Pre-Emption • Deutsche Bank Trust Company Americas v. Robert R. McCormick Foundation
(DBN)

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Avoidance Actions:

Third Circuit Dismisses Crystallex’s Fraudulent Transfer Claim But Potential Liability Remains for PDVSA
(DBN)

Fifth Circuit Rejects Breach of Fiduciary Duty and Fraudulent Transfer Claims
(DBN)

First Circuit Affirms Dismissal of Fraudulent Transfer and Fiduciary Duty Claims
(DBN)

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Intervention:

The First Circuit Joins Several Other Circuit Courts in Finding That Creditors’ Committees Have an Unconditional Right to Intervene in Adversary Proceedings
(DBN)

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Coal:

Bankruptcy as Bailout: Coal, Chapter 11, and the Erosion of Federal Law
(DBN)

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Involuntary Bankruptcy:

The Consequences of a Relic's Codification: The Dubious Case for Bad Faith Dismissals of Involuntary Bankruptcy Petitions
(DBN)

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Corporate Reform:

Senate Banking Bill Exposes Democratic Rifts
(DBN)

Republican senator proposes stripping Senate banking bill of help for big banks
(DBN)

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Healthcare:

Miami hospital files for bankruptcy : 4 things to know
(DBN)

Insurers Game Medicare System to Boost Federal Bonus Payments
(DBN)

Harris County considering buying shuttered Riverside Hospital
(DBN)

VA is Purging Civil Servants • Most Corrupt Cabinet Member? VA's Shulkin
(DBN)

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Distressed Investing:

New York financier Lynn Tilton puts her Zohar funds into bankruptcy
(DBN)

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Pensions:

Corporate pension plans could become fully funded once the 10-year yield exceeds 3.0%, says Fundstrat’s Lee
(DBN)

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Weather:

Airlines cancel flights as another winter storm nears
(DBN)

Yet another winter storm is about to slam the East Coast with snow — the third nor'easter in 2 weeks
(DBN)

Should We Chill Out on Global Warming?
(DBN)

______________

Pharma:

Time’s a-ticking for bankrupt Orexigen to sell off Contrave • Orexigen crashes on bankruptcy sale news • New Delaware Chapter 11 Filing – Orexigen Therapeutics • Orexigen Bankruptcy Shows Difficulty of Marketing Weight-Loss Drugs • No magic pill for obesity: Orexigen files for bankruptcy • Summary: Orexigen Therapeutics Inc.
(DBN)

Valeant kills CEO's $29.8-million stock award in pay overhaul
(DBN)

______________

UK:

Carillion paid advisors £6.4m day before bailout plea
(DBN)

UK Regulator Sends Law Firms Gag Order Warning Shot
(DBN)

Brexit Hurts Europe, But Hurts the U.K. More
(DBN)

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PIIGS:

Euro zone to unlock new loans to Greece, working on debt relief
(DBN)

Greek banks' dependence on ELA drops
(DBN)

Greece prepares development plan after the end of the rescue programs
(DBN)

Italy Said to Seek Help Reorganizing Firms Owing $11 Billion
(DBN)

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Canada:

Bombardier Union Seeks to Thwart Sale of Toronto Jet Facility
(DBN)

Trump’s tariff reprieve small comfort to Canada’s steel town living on the edge
(DBN)

Canadians tend to see personal bankruptcy as a major stigma – study
(DBN)

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India:

Young farmer commits suicide • 4 farmers commit suicide in past 2 days
(DBN)

Panel seeks more amendments to Insolvency and Bankruptcy Code
(DBN)

Rolta Restructuring Support Agreement Extended by 2 Weeks
(DBN)

RBI Formalizes Arrangement With Insolvency And Bankruptcy Board
(DBN)

Exit of BDO resolution professionals to hit insolvency proceedings
(DBN)

Moratorium On Disposal Of Property Of Personal Guarantor Of The Corporate Debtor.
(DBN)

IBBI, RBI sign MoU for effective implementation of insolvency code
(DBN)

Bill to sell assets of absconding fraudsters
(DBN)

Insolvency code review: Exclusion of errant promoters to stay
(DBN)

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China:

Hainan Airlines discloses assets restructuring plan
(DBN)

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Australia:

Australia introduces insolvency reforms which limit contract rights to terminate for insolvency
(DBN)

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MENA:

Hariri Cites Greek-Style Debt Woes in Unveiling Lebanon Budget
(DBN)

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Russia:

Putin's Net Worth Is $200 Billion, According To Prominent Russian Finance Expert
(DBN)

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