May 10, 2018

The Daily Bankruptcy News

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Law:

McKinsey Hit With RICO Suit Alleging It Hid Conflicts in Bankruptcy Proceedings Battle of Giants McKinsey Hid Conflicts to Draw Bankruptcy Work, Alix Says
(DBN)

Perspectives From In-House Counsel: Answers To 5 FAQs From Outside Counsel
(DBN)

Shock. Shock. The Mommy Track Is a Dead End!
(DBN)

How This British Law Firm Transformed Its US Presence In About a Year
(DBN)

Top UK law firms are rocked by a string of s-- scandals with many lawyers blaming 'a secretive culture of patronage'
(DBN)

Quinn Emanuel dismisses London partner Mark Hastings after allegations of inappropriate behavior
(DBN)

The Death of Lockstep?
(DBN)

This Biglaw Firm Proves Law School Is Overrated
(DBN)

Solo who sought reversal based on ‘extreme judicial activism’ faces total sanctions of $235K
(DBN)

Suit claims Bryan Cave partner hid client’s hack using FBI tools she supplied while a prosecutor
(DBN)

What’s In The Innovative Lawyer’s Toolkit?
(DBN)

Find Your Niche. Then Get Rich.
(DBN)

The Old Man And The New York Bar Exam (Part III): Judgment Day
(DBN)

2018 Gift Guide For Law Grads
(DBN)

Ex-Cleary Gottlieb secretary amasses secret £6.6 million fortune after observing investments made by mega-rich lawyers
(DBN)

If Your Parents Paid For Your Law School Expenses, You Better Help Them If They Need It
(DBN)

Some Lawyers Need To Learn When To STFU
(DBN)

The Most Important Word in Legal Tech: Engagement
(DBN)

Are Contract Attorneys W-2 Employees Under The ‘ABC Test’?
(DBN)

Latham Lawyer Executes Kevin Bacon-esque ‘All Is Well’ In Wake Of Bombshell Michael Cohen Report Michael Cohen's lawyers say report alleging payments had 'numerous inaccurate statements' Michael Cohen: I'm Crushing It with Trump Experts: Leaking Cohen's Bank Records Illegal Law firm that worked with Cohen says it was unaware of payments The Michael Cohen avalanche Pharma giant Novartis faces serious questions after it paying nearly $400,000 to a Michael Cohen-linked organization AT&T, Novartis Ties to Cohen Reveal Backdoor Bids to Reach Trump AT&T Was Paying Trump's Lawyer While White House Turned Into Foe Drug Official: Cohen Promised Trump Access Novartis paid Trump lawyer Michael Cohen more than $1 million for Obamacare work he couldn't do Drug manufacturer Novartis ties payments made to Trump’s lawyer to former CEO AT&T confirms it paid Trump lawyer Michael Cohen's company for 'insights' into administration Mueller's team questions Russian oligarch about payments to Cohen: reports One of the Companies Named in Avenatti’s Report Has Been on Mueller’s Radar Since at Least Nov. 2017 Trump's personal lawyer Michael Cohen called Novartis' CEO promising access to the president — then they made a $1.2 million deal AT&T paying Trump's lawyer up to $600,000 is a PR nightmare that raises big questions about what AT&T expected in return A Korean aerospace company caught up in the latest Michael Cohen scandal is 'well placed' to win an Air Force contract worth up to $16.3 billion Company that paid Stormy Daniels reportedly received money from firm tied to sanctioned oligarch Michael Cohen Put Up His Home As Collateral — Now What Are The Chances He’ll Flip On Trump? Cohen's attorneys accuse Michael Avenatti of targeting the wrong Michael Cohen in bombshell report 'It's a dead issue': Rudy Giuliani says Trump was 'unaware' of Michael Cohen's financial dealings Privilege Issues Confronting the Trump–Cohen Special Master Trump lawyer Cohen helped recruit corporate client with ties to Kushner probe Russian oligarch-linked firm that paid Michael Cohen was also represented by Trump lawyer Marc Kasowitz
(DBN)

Trump may be souring on Rudy Giuliani after a stunning media tour that raised troubling questions about the Stormy Daniels scandal
(DBN)

Prof: Trump Far More Vulnerable to Obstruction Charge in Stormy Daniels Case than Russia Probe
(DBN)

Trump's lawyers are 'anxious' for a ruling in Manafort's case as they gear up to take on Mueller One Major Ruling Trump May Be Waiting on Before Speaking to Mueller
(DBN)

Reed Smith's Russia Work in Mueller Case Gets Closeup in Court
(DBN)

OK, Who Had the Affair with the Bunny?
(DBN)

NBC Says Lauer Investigation Found No Management Wrongdoing NBC finds no culture of harassment in Matt Lauer report NBC’s #MeToo Report About Matt Lauer Isn’t Exactly Convincing
(DBN)

Cy Vance Mad That He’ll Miss Out On Opportunity To Bungle Schneiderman Case Democratic state AGs vow to continue Trump challenges
(DBN)

How House Republicans could force a vote on DACA
(DBN)

Lawsuit alleges government unlawfully drugs unaccompanied minor immigrants
(DBN)

Deportations Return to Obama-Era Levels
(DBN)

Why a Fund Giant Set the Lawyers on a Client
(DBN)

The Defense That Failed White Nationalists
(DBN)

CalSTRS to Put Pressure on Gun Retailers
(DBN)

White Man Wanted Black Neighbor Hung from Tree, 'Flaming Cross' Put on Lawn, Says FBI
(DBN)

Nordstrom Rack President Personally Apologizes to Three Black Teens Falsely Accused of Theft
(DBN)

Yale Grad Student Calls Cops When Black Classmate Falls Asleep in Dorm Common Room
(DBN)

Famous Author Helps Son Do Essay On His Work . . . Son Gets C+ From Teacher
(DBN)

Bronx Woman Charged With Burglarizing Homes Of Grieving Families During Funerals
(DBN)

 

Widow claims a failure to safeguard her late husband’s s---- by lawyer who allegedly advised him
(DBN)

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Judges:

Drama About Justices Ruth Bader Ginsburg And Sandra Day O’Connor Coming To A TV Screen Near You
(DBN)

Judges and the administrative state
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Justices’ Personalities Shine Through in Opinions About Orders
(DBN)

Ninth Circuit Nominee Says He's Sorry for College Writings
(DBN)

Judicial Crisis Network’s new ad targets powerful women. Coincidence?
(DBN)

How Trump is reshaping the courts
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Wall Street:

Dow heads for 6th straight day of gains as traders look to inflation data US stocks set for a flat open ahead of inflation data
(DBN)

Dow jumps more than 150 points as energy shares rally after Iran deal exit
(DBN)

Alarm bells ringing for stocks as ‘correction clock’ ticks down
(DBN)

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Layoffs:

A $25,000 robot barista serves 120 cups of coffee an hour — and it is part of a growing 'robot revolution' that could kill millions of jobs
(DBN)

BT is cutting 13,000 jobs
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Politics:

Trump announces 3 US citizens detained in North Korea are now free and on their way home Trump celebrates 3 Americans freed from North Korea in victorious return to the US Trump's plan to out-"crazy" North Korea
(DBN)

Trump muses about taking away press credentials from the 'Fake News' media Drudge fires a warning shot at Trump's 'crusade' on fake news
(DBN)

General Wesley Clark: How Iran deal exit could lead to another 'destructive and useless war' Trump dealt a huge blow to Iran by trashing the deal — and it could lead to war Trump leans on distortions to explain Iran deal withdrawal U.S. Public Support for Iran Deal at All-Time High Fact-checking President Trump's reasons for leaving the Iran nuclear deal Trump's Iran deal exit may spark a Europe sanctions battle that the US already lost once Boeing, Airbus to Lose Billions in Orders From Trump's Iran Sanctions Boeing and Airbus will miss out on a combined $39 billion payday because of Trump's Iran deal decision Boeing claims Iran sanctions won’t affect its production pipeline Boeing's Gains From Rising War Fears Could Offset Lost Iran Jet Deal The Real Reason Trump Killed The Iran Deal The Iran Deal and the Dark Side of American Exceptionalism America Keeps Accidentally Helping Iran Trump Warns Iran on Nuclear Program Three Reasons Trump Dumped Iran Deal Europe Punches Back After Trump's Iran Decision
(DBN)

Trump, Democrats both see success in first May primaries
(DBN)

President Donald Trump finally admits that “fake news” just means news he doesn’t like
(DBN)

Haspel says she'll refuse "immoral" orders from Trump, even if legal CIA Pick: Torture Doesn't Work Haspel Offered Forgetful Slip on CIA Torture John McCain calls on Senate to reject Gina Haspel's CIA nomination
(DBN)

Orrin Hatch Apologizes to John McCain
(DBN)

Democrats hold big cash advantage over GOP rivals after Tuesday's red state primaries Poll: Democratic Advantage Vanishes Before Midterm Evaporating
(DBN)

George Will: Trump is No Longer the Worst Person in Government
(DBN)

Following the Money in Trumpland Trump’s Shadowy Money Trail
(DBN)

Trump Voters Would Be Hit Hardest by GOP’s Food Stamp Work Rules
(DBN)

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Alternative Energy:

Jobs in renewable energy hit 10.3 million last year, report finds
(DBN)

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Paper:

Appvion assets set for bankruptcy sale
(DBN)

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Fraud:

Tax, Embezzlement Case Tied To Former Congressman Ends In Guilty Verdict
(DBN)

New York State's Culture of Corruption
(DBN)

Hedge Fund Manager Sentenced to Six Years for Fraud
(DBN)

A Guide to the Worldwide Probes of Malaysia’s 1MDB Fund
(DBN)

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Finance:

When banks abandoned American Samoa, the islands found a solution nobody had used in a century
(DBN)

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Economy:

CPI may give fuel to those at Fed who want faster rate hikes Thursday's inflation data could be a catalyst for an important interest rate move
(DBN)

$4 Trillion in Corporate Debt Coming Due
(DBN)

Fed GDPNow latest forecast: 4.0 percent — May 9, 2018
(DBN)

Higher Gas Prices Could Ruin Tax Cuts
(DBN)

American Factories Have One Very Big Problem
(DBN)

Negotiations over NAFTA hit a major snag, reducing odds of agreement
(DBN)

Middle-Class Doldrums Don’t Add Up to a Crisis
(DBN)

Trends in Educational Attainment in the U.S. Labor Force Why graduation rates lag for low-income college students
(DBN)

Wholesale trade misses expectations in March, but keeps growth streak alive US wholesale prices creep up just 0.1% in April
(DBN)

What’s the matter with wages? All the signs are there for higher pay, but the 'mystery of missing wage growth' continues
(DBN)

Growing list of U.S. products face issues at China’s borders Trade uncertainty may be sapping business investment, says Atlanta Fed's Bostic
(DBN)

Trump's Iran nuclear deal withdrawal could also have major economic consequences for average Americans Iran fallout for allies ‘likely to leave lasting impact on markets’ — analysts size up Trump’s withdrawal Iran deal: Who loses as US sanctions return
(DBN)

Bill Clinton calls new tax law 'a bullet aimed at New York and California'
(DBN)

Almost half of Americans don't expect to have enough to retire comfortably — but there's good news Social Security Still Financial Bedrock for Retirees
(DBN)

Trump to Threaten Veto of Farm Bill Without Food-Stamp Tightening
(DBN)

The 10 states with the longest and shortest commutes
(DBN)

Women Don't Go for Flashy Cars and Bling
(DBN)

How Much Do CEOs Make?
(DBN)

Las Vegas: Convention Attendance Sluggish in Q1 2018, Visitor Traffic off Slightly
(DBN)

Seniors will rely on Social Security even more in the future for one simple reason
(DBN)

Graduating college today is vastly different than it was 10 years ago
(DBN)

US gender pay disparity even higher for female GCs
(DBN)

Bernie Sanders has a new plan to raise wages: Save the unions
(DBN)

Vice President Joe Biden’s 5 ideas for helping America’s middle class
(DBN)

The Changing Landscape of Business Risk
(DBN)

US Debt Clock
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World Debt Clock
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How People Really Live
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Real Estate:

Half of the biggest housing markets in the US are overvalued — and it could spell trouble for homebuyers
(DBN)

"Mortgage Rates Back at 4-Year Highs Ahead of Inflation Data"
(DBN)

MBA: Mortgage Applications Decrease Slightly in Latest Weekly Survey, Refi Index lowest since 2008 MBA: Mortgage apps continue slide
(DBN)

How much you have to earn to live comfortably in the 10 priciest US cities
(DBN)

The 10 best states for turning a profit on flipping a house
(DBN)

Silicon Valley's housing market is so dire, a burned-out home just sold way over the asking price — for $938,000
(DBN)

Explosive eruption is possible at Hawaii's Kilauea volcano, scientists say
(DBN)

Report: Multifamily rents on the rise
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Municipalities:

US releases Puerto Rico debt crisis report, offers solutions
(DBN)

Puerto Rico's Bankruptcy Advisers Could Get Closer Scrutiny
(DBN)

Puerto Rico dominates US public finance defaults - S&P
(DBN)

Airbnb partnership is reminder of Puerto Rico's crisis
(DBN)

How congress could help Puerto Rico avoid another crisis
(DBN)

NYU Took In Students From Puerto Rico After Hurricane Maria. Now It's Sending Them Home — But They're Not Ready To Go
(DBN)

More Illinois Cities Could File Bankruptcy Rock Island and Moline among 20 Illinois cities a watchdog group says should declare bankruptcy
(DBN)

AZ: Red Flags at 140 Charter Schools
(DBN)

A Tale of Four Cities — Models of State Intervention in Distressed Localities Fiscal Affairs
(DBN)

Chapter 9 of the Bankruptcy Code: A Solution in Search of a Problem
(DBN)

Reviving Cities: Legal Remedies to Municipal Financial Crises
(DBN)

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Oil/Gas:

Oil spikes to 3.5-year high after Trump pulls the US out of the Iran nuclear deal Oil Traders Prepare to Cut Iranian Crude on Trump Sanctions Oil surges to a fresh high as Middle East tensions spark violence Trump Iran sanctions just gave Saudi Arabia and Russia more clout in the oil market, so watch for higher prices Funds Betting on $150 Oil Due to End of Iran Deal Did Trump Just Kill The OPEC Deal? CEO: US Shale Producers Will Not Offset Iran Supply Drop Post-Deal Exit Crude prices rise despite Saudi pledge to ‘mitigate’ U.S. sanctions Who Was Buying Iranian Oil And What Happens Next?
(DBN)

Trump's Iran Sanctions to Shake Up Global Oil Supply Lines
(DBN)

Oil and the dollar are doing something they have only done 11 times in the past 35 years
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Retailing:

Sears is soaring after saying it will team up with Amazon on tires Sears is working with Amazon to deliver and install car tires; shares surge more than 20 percent Sears extends partnership with Amazon as 'transformation continues'
(DBN)

Sears CEO Eddie Lampert: We are still 'fighting like hell'
(DBN)

Lord & Taylor parent reportedly hires advisers to revive ailing chain
(DBN)

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Education:

McNally Smith bankruptcy case may be close to an end
(DBN)

SGU court date passes uneventfully
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Non-Profits:

Pittsburgh YMCA files for bankruptcy, will close 2 locations
(DBN)

La Casa de la Raza Bankruptcy at Risk
(DBN)

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Radio:

Bankrupt radio station giant iHeart proposes $72 mln in bonuses
(DBN)

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Celebs:

American Chopper star Paul Teutul's finances on the skids
(DBN)

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Auto Racing:

Judge J. Craig Whitley reminds Ron Devine that he's no longer calling the shots for his BK Racing team
(DBN)

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Marijuana:

How do you move mountains of unwanted weed?
(DBN)

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Healthcare:

Aria faces allegations of 'gross self-dealing' in Arkansas bankruptcy case
(DBN)

When a rural hospital shuts down
(DBN)

To lower drug costs at home, Trump wants higher prices abroad
(DBN)

Uninsured Rate Rises in 17 States in 2017
(DBN)

As midterms loom, health care is a Democratic issue Democrats go vague on health care ahead of midterms
(DBN)

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Personal Finance:

Reality check: are you a financial adult?
(DBN)

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Student Debt:

CFPB makes major changes to student loan office — advocates worry it will be ‘open season’ on borrowers CFPB to Close Student Loan Relief Office
(DBN)

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Solar:

California regulators approve plan to mandate solar panels on new home construction
(DBN)

Going Solar Is Getting Cheaper
(DBN)

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Gambling:

Las Vegas Lucky Dragon Casino Hoping for Bankruptcy Sale
(DBN)

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Farming:

Idaho farm trucking company seeks bankruptcy protection
(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 (9 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (__ 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:

In an era of the vanishing trial, would-be litigators aren’t getting valuable experience, op-ed says
(DBN)

Litigation finance disclosure done right
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Conflicts:

McKinsey Hid Conflicts of Interest From Bankruptcy Courts, Lawsuit Says Turnaround Veteran Jay Alix Sues Consulting Giant McKinsey Restructuring pioneer Jay Alix sues McKinsey for racketeering Jay Alix Files RICO Action Against McKinsey Rival accuses consulting giant McKinsey of racketeering McKinsey sued over 'conflicts of interest' in bankruptcy work
(DBN)

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IP:

Trademark Licensees in Limbo Again?
(DBN)

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UST:

How the New UST Fee Schedule Is a Ticking Tax-Bomb for Middle Market Debtors
(DBN)

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Bankruptcy Policy:

Bankruptcy Law as a Balancing System: Lessons from a Comparative Analysis of the Intersection between Labor and Bankruptcy Laws
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Priorities:

Getting More than Justice on Paper: Bankruptcy Priorities and the Crisis of Unpaid Wages
(DBN)

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Travel:

Scared Delta passengers forced to evacuate plane after smoke pours into cabin
(DBN)

You got bumped. Here's what airlines owe you
(DBN)

Tour company took payments, then went bankrupt
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Corporate Governance:

Warren Buffett on judging management: 'See how they treat themselves versus how they treat the shareholders'
(DBN)

Median CEO pay reaches $12.1 million—here's what the 5 highest-paid leaders earn The highest and lowest paid CEOs in America
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Corporate Reform:

RBS is swallowing a 'milestone' $4.9 billion fine for its role in the financial crisis — and shares are going up RBS to pay $4.9 billion in DOJ settlement over risky loans 'Humbling' U.S. settlement clears crisis-era hangover for RBS U.S. helps make RBS nearly great again
(DBN)

Report: Trump administration to roll back youth labor regulations
(DBN)

Rod Rosenstein Signals Era of Big Corporate Penalties Is Ending
(DBN)

Mick Mulvaney takes aim at consumer bureau’s student protection unit
(DBN)

Congress eases rules against racial discrimination in the auto loan market
(DBN)

Bill to roll back post-financial-crisis banking rules gets clear path to passage
(DBN)

Republicans Find a New Way to Target Obama’s Rulemaking Legacy
(DBN)

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Movie Theaters:

MoviePass owner's shares plunge more than 30% for a second-straight day Helios And Matheson Losing $21 Million In Cash Monthly
(DBN)

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Autos:

Supplier fire cripples production of Detroit 3 vehicles Fires Of Ford 'Production Hell' Burn Hotly Around Key F-150 Pickup
(DBN)

Mississippi Taxpayers on the Hook for Millions in Electric Car Company Bankruptcy
(DBN)

Ford Stops All Production of the F-Series Truck Ford is scrambling to limit the impact of stopping F-Series production
(DBN)

Royal Subaru files for bankruptcy
(DBN)

TrueCar Loss Widens as Sales Miss Guidance
(DBN)

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Hedge Funds:

Defunct Hedge Fund Ends Two-Year Negotiation With Feds, Allowed To Go Out Of Business
(DBN)

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Pensions:

Trump: Slash $143Bn from Federal Pensions
(DBN)

A.G. Beshear Gets Witness Thrown Out in Kentucky Pension Case
(DBN)

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UK:

Freshfields and Kirkland take roles on House of Fraser restructuring as Sports Direct mounts legal challenge
(DBN)

Britain is heading for a disastrous Brexit cliff-edge unless the 'ridiculously short' transition is extended
(DBN)

$14 Billion Says Brexit Threat Is Real
(DBN)

Bankrupt man who set fire to his own belongings so they couldn't be seized by bailiffs then stood drinking a cup of tea as he waited for police to arrive is warned he faces a lengthy jail term
(DBN)

Victims Of Bank Fraud Criticize Britain's Financial Watchdog
(DBN)

Late payments pushing SMEs to the edge
(DBN)

London cab drivers lose cover after Alpha bankruptcy Cabbies scramble for motor cover after Alpha insurance goes bust
(DBN)

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EU:

EU Stuck Between a Bomb and a Hard Place
(DBN)

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PIIGS:

ie: Dunne's wife seeks to stop case over property transfer
(DBN)

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Canada:

Spin Master says toy retailers and new entrants fighting for Toys ‘R’ Us sales
(DBN)

Canada's steel industry, credit default swaps, schemes, and more
(DBN)

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MENA:

Israel launched a barrage of air strikes on 50 Iranian targets in Syria — a massive escalation that could lead to all-out war Can Putin Stop Israel and Iran Going to War? Putin may have given Israeli PM Netanyahu the green light to wipe out Iran in Syria in a massive air war
(DBN)

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South Korea:

GM to locate new Asia-Pacific headquarters in South Korea, government says GM agrees to stake lock-in, make S.Korea regional HQ in rescue deal for unit GM's commitment to S.Korea is long-term and sincere, says GM exec
(DBN)

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India:

Fresh uncertainty for 20,000 homebuyers as banks reject Jaypee revival plan
(DBN)

NPA fix: Only 2 from RBI’s ‘Dirty Dozen’ resolved under IBC; what about others? Is the delay hurting?
(DBN)

Lot of interest for Air India stake sale
(DBN)

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Singapore:

Restructuring pro trades global firms in Singapore
(DBN)

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Bahamas:

Baha Mar Bahamas Resort Review
(DBN)

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Argentina:

Argentina: Back to the Brink
(DBN)

Why America’s 3.9 percent unemployment rate is bad news for Argentina
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Australia:

Australia Shot the Corporate Sheriff
(DBN)

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Myanmar:

Republic of Myanmar: New Insolvency and Restructuring Laws
(DBN)

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