May 11, 2018

The Daily Bankruptcy News

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Law:

Initial thoughts on the Alix-McKinsey lawsuit McKinsey Hid Conflicts to Draw Bankruptcy Work, Alix Says
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'I Saw You Kick Him': Greenspoon Marder Partner Intervenes in Alleged Police Abuse Biglaw Partner Intervenes After Witnessing Police Assault A Motorist Greenspoon Marder partner intervenes after seeing cop kick driver with hands in the air
(DBN)

Quinn Emanuel Faces Potential UK Regulatory Investigation After Dismissing London Partner for Inappropriate Behavior
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Linklaters tells staff to report office romances
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Chicago law firms serve up services in Texas deep dish style
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Florida Coastal sues ABA over finding of noncompliance with accreditation standards Law School Sues ABA For ‘Attacking Diversity’ And, Like, Doing Its Job
(DBN)

ABA should never have accredited now-closed Charlotte School of Law, lawsuit claims
(DBN)

Yes, Law Students, You Should Really Try To Get Onto A Journal
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The Law Schools Where The Most Graduates Got State Clerkships (2017)
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Former managing clerk at Simpson Thacher gets sentence reduced in insider trading scheme
(DBN)

Cohen, touting his access to President Trump, convinced companies to pay millions Michael Cohen Referral Was Top 10 Lobbying Client of Squire Patton Boggs This Year How Michael Cohen, Denied Job in White House, Was Seen as Its Gatekeeper Inside Michael Cohen's aggressive pitch promising access to Trump Michael Cohen's angle: The mystery of the Russian $500K Michael Avenatti: ' Michael Cohen Actively Solicited These Clients' Novartis payments to Michael Cohen were excessive by D.C. standards Payments to Trump attorney Michael Cohen pull back curtain on AT&T's political machine AT&T reportedly paid Michael Cohen for guidance on Time Warner deal Is It Normal for the President’s Lawyer to Run a Political Consulting Firm? Law Firm That Partnered With Michael Cohen Says Shell Company Work Was A Side Hustle Michael Cohen’s ‘Essential Consultants’ Business Is a Big Problem for Donald Trump Trump lawyer Michael Cohen set up a Delaware firm to pay Stormy Daniels The Michael Cohen Revelations Are a Crash Course in Shady Corporate Entities Feds probing how Stormy lawyer got Cohen’s banking info Trump Lawyer Cohen's Camp Rips 'Inaccurate' Allegations, Concedes Some Payments Novartis CEO tells employees 'we made a mistake' in making deal with Trump lawyer Michael Cohen
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Stormy Daniels' lawyer once bought a coffee chain for $9 million with a famous Hollywood actor — and all the shops mysteriously closed earlier this year amid dozens of lawsuits Who is paying Michael Avenatti?
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'I think it's time to wrap it up': Pence tells Mueller he's had a year to run his Russia probe but won't say it's a 'hoax' Special Counsel Mueller’s Team Questioned Blackwater Founder Erik Prince Survey – Independents Find Mueller to be More Trustworthy than Trump Poll: Majority of Republicans think the FBI is framing Trump
(DBN)

Giuliani Resigns From Law Firm Amid Tensions Over Comments About Trump Rudy Giuliani Resigns from Greenberg Traurig Giuliani makes resignation from his law firm 'permanent' as Mueller probe becomes 'all consuming' Giuliani Resigns from Greenberg Traurig to Focus on Trump Giuliani’s Law Firm Undercuts His Statements as They Part Ways Rudy Giuliani resigns from Greenberg Traurig; was firm irked by hush-money comment? Rudy Giuliani Officially Done With Biglaw Career Rudy Giuliani’s Ex-Law Firm Fires Back After He Resigns
(DBN)

McCain Confirms Giving Dossier to Comey: 'Duty Demanded'
(DBN)

Georgina Chapman on Life After Harvey Weinstein 'I was so naive': Weinstein wife lifts lid on scandal Harvey Weinstein's estranged wife's fashion label took a major hit amid scandal — now it is trying to launch a comeback Detroit Lions stand by decision to hire Matt Patricia after 22-year-old assault indictment surfaces
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DHS requesting 700 additional troops, helicopters for border security The Eroding GOP Resistance to Trump's Immigration Agenda
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Court curtails border agents' cellphone searches Forensic search of cellphone seized at border requires some form of suspicion, 4th Circuit says
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NC: Sheriff Helped ICE, Got Voted Out
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Cuomo Attorney Slams Vance’s ‘Absurd’ Bid For Former AG Case
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NBC Insiders Divided on Lauer Report
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Black woman says traffic stop was like a lynching in viral video – so cops release unedited body cam footage
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Miami officer charged in confrontation with suspect captured on video
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68 percent of flight attendants say they have experienced harassment on the job
(DBN)

NRA: Gun Control Activists are Terrorists
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The life of Kimberly Guilfoyle: Meet the Fox News star, former prosecutor, and model who's rumored to be dating Donald Trump Jr.
(DBN)

Bonkers Law Firm Website: Chambers of Secrets
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Nurse charged in death of former Trump advisor HR McMaster's father
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Number of Incarcerated Women, Girls Jumps 700 Percent
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Lawyer Suspended for S------ Client’s 14-Year-Old Daughter
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Legal awards outfit is still offering trophies to a fake firm
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Partner buys burner phones to harass associate
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Judges:

Trump Nominates 7 to Fill 7 NY Federal District Court Vacancies
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Senate Panel Advances Ninth Circuit Nominee
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Grassley Pushes Justices to Leave
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RBG Movie Highlights Ginsburg's Life, Struggles and Fight for Equality Justice Ruth Bader Ginsburg Is A Beast In The Gym
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9th Circuit nominee apologizes for ‘overheated’ rhetoric of articles he wrote for Stanford newspaper
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Putting Justice Gorsuch To The Test of Three Legal Editing Programs
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Asking About Brown v. Board Is ‘Gutter Politics,’ According To Senate Judiciary Official
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Brennan Advances Minus ‘Blue Slip’, Engelhardt Confirmed
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Trump Nominates Nine New Judges, Including One for 9th Circ
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Wall Street:

Dow’s bid for 7th-straight winning session in play US stocks set to post slight gains at the open amid economic data
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Dow rallies nearly 200 points, notches 6-day winning streak
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Bonuses are about to soar across Wall Street — and a group left for dead might wind up the biggest winner
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Layoffs:

Toys 'R' Us employees demand severance pay Toys ‘R’ Us Promotes Nostalgic Selfies While Employee Unrest Boils
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Why Ford Has Stopped Production of America's Best-Selling Pickup
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U.S. Bank to lay off 260 from Bedford mortgage office
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At Deutsche Bank’s U.S. Unit, Anxiety Grows as Ax Starts to Fall
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Food/Beverage:

Applebee's CEO slams reports that millennials are killing the chain as 'false news'
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A California judge ruled that Starbucks and other coffee shops must put a cancer warning on coffee
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Sunshine Dairy files for bankruptcy, will close historic NE Portland site Portland’s Sunshine Dairy files for bankruptcy, reaches agreement with Alpenrose
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Corporate Governance:

Delaware Court Finds Continued Compensation to Incapacitated Chairman Could Render Directors Liable for Claims of Waste and Bad Faith
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Student Debt:

Trump’s CFPB is shutting the office that focuses on student loan abuses Does the CFPB Still Care About Students? What the Shutdown of the CFPB’s Student Loan Watchdog Means for Borrowers Mulvaney Blasted For Closing CFPB Student Lending Office That Recovered $750M For Fraud Victims
(DBN)

Interest rates on federal student loans set to rise for the second year in a row
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Corporate Reform:

Rep. Hensarling Says Bureau of Consumer Financial Protection Was ‘Making Up the Law’
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Coal:

Coal Is Losing Ground Despite Trump’s Promises
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Climate:

Global Warming Age Gap: Younger Americans Most Worried
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Accounting:

PCAOB bans more Deloitte Turkey senior partners
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Economy:

The only things going up in price are the bare necessities Key Measures Show Inflation increased YoY in April BLS: CPI increased 0.2% in April, Core CPI increased 0.1%
(DBN)

Back In The Old Days, This Was Called Stagflation
(DBN)

US weekly jobless claims hover near 48-year low Weekly Initial Unemployment Claims at 211,000, 4-week average lowest since 1969
(DBN)

Trump's High-Pressure Economy
(DBN)

Spectacular recoveries : Comparing the strongest economic recoveries in recent U.S. history
(DBN)

The U.S. Yield Curve Is the Flattest Since August 2007
(DBN)

A Nobel Prize-winning economist explains what Milton Friedman got wrong
(DBN)

Krugman: Let Them Eat Trump Steaks
(DBN)

A new NAFTA may be agreed on soon - Then the hard work begins Ryan sets May 17 deadline for NAFTA deal, Mexico sees time running short
(DBN)

Trump's trade fight with China just claimed its first big victim Commerce Secretary Ross: We're trying to get China to buy more US goods, 'gaps' remain in talks Commerce Secretary Wilbur Ross: I think China 'agreed to the concept' of reducing the trade deficit US and Chinese officials to meet in Washington on Friday to discuss trade dispute: US official Americans are generally positive about free trade agreements, more critical of tariff increases
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Trump's decision to ditch Iran nuclear deal is helping boost gas prices over $3 in parts of the US
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Poll: Most Dishonest Professions
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Teenagers are less likely to work today than any generation before them, and some say school is to blame
(DBN)

Being a 'nice guy' becomes a threat to men's earning power as soon as they turn 30
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The most sought-after job for college grads pays $92,300—here's the rest of the top 10
(DBN)

Trump Infrastructure Plan Appears DOA
(DBN)

How Did Americans Get So Lazy?
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A growing share of millennials are living with mom ... Here's why
(DBN)

Hotels: Occupancy Rate increases Year-over-Year, On Pace for Record Year
(DBN)

He went from jail to a $22-an-hour job. How can America get more stories like this?
(DBN)

Study: Workers are now focusing on retirement benefits over health-care plans
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Premature mortality and the long decline of hope in America
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The Safest Source of Energy Will Surprise You
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US Debt Clock
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World Debt Clock
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How People Really Live
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Real Estate:

Mortgage rates hold near 2018 highs in a ‘nirvana’ moment for housing, Freddie Mac says
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Lawyerly Lairs: A Pioneering Cravath Partner’s $8 Million Aerie
(DBN)

El Paso businessman William 'Billy' Abraham talks before Federal bankruptcy hearing
(DBN)

NY artist fined a record $185,000 over illegally renting apartment on Airbnb
(DBN)

Sacramento Housing in April: Sales Increase 5% YoY, Active Inventory up 18% YoY
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Municipalities:

Board rejects Puerto Rico's proposed budget, asks for new one
(DBN)

The Skilled Worker Exodus
(DBN)

Revised Puerto Rico fiscal plan confronts complicated questions
(DBN)

Have We Got a Muni Bond for You
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Oil/Gas:

Oil prices risk spiking to $100 a barrel next year, Bank of America analysts say
(DBN)

Funds Betting on $150 Oil Due to End of Iran Deal Oil near multi-year highs as Iran sanctions tighten supply outlook
(DBN)

U.S. gasoline prices could top $3 this summer thanks to Iran and Venezuela
(DBN)

Texas Oil Drilling Permits Rose 34% In April
(DBN)

Wright’s Well Control Services Exits Bankruptcy, Terminates Chapter 11 Reorganization
(DBN)

The Oil Major Accelerating Venezuela’s Decline
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Autos:

Tesla Will Go Bankrupt Without A Near-Term Cash Raise: Schultze Tesla Losing Money on Every Model 3
(DBN)

Americans Expect Driverless Cars to Be Common in Next Decade
(DBN)

Used car prices post their biggest drop in 9 years Car prices are falling while it costs more to buy gas at the pump
(DBN)

Uber is Coming for Car Rental Firms Next
(DBN)

Trump Puts Automakers in a Jam Everywhere
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Retailing:

Mirage on 34th Street? Macy's comeback faces challenges Macy's is facing an 'uphill battle' Macy's Stock Downgraded on Core Business Concerns Morgan Stanley downgrades Macy's on declining sales, profit
(DBN)

Steinhoff Hits New Low After Warning of Deeper Accounts Hole Ex-Steinhoff CEO's Investment Firm Battles Over Candy Maker Christo Wiese Steps Back From Brait to Brace for Steinhoff Fight Steinhoff probing possible executive bonus clawback Steinhoff may be claiming back executive bonuses worth R176 million Steinhoff says hole in accounts is deeper than first thought New Low
(DBN)

The Children's Place poised to win after Toys R Us liquidation
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Advertising:

Videology Files For Bankruptcy, Agrees To Sell To Amobee New Delaware Chapter 11 Filing – Videology, Inc.
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Bankruptcy Crimes:

St. Peters woman sentenced to 18 months for bankruptcy fraud
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Fraud:

Tom Petters trustee alleges bogus multimillion dollar claim
(DBN)

Connecticut fines indicted Westport financier $700K
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Radio:

iHeartMedia Still Owes Artists $16.4 Million. Now, It Wants to Pay Itself $108 Million in Bonuses
(DBN)

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Pharma:

5 things to expect from President Trump’s drug-price speech on Friday Trump plan won't allow Medicare to negotiate prices but will propose some drug plans share discounts Wall Street's whispering that Trump may take a hammer to one of healthcare's most lucrative businesses
(DBN)

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Guns:

Bank of America defends financing deal with rifle maker Remington as activists plan boycott Bank of America affirms gun pledge, hints at Remington loan exit
(DBN)

Investors Should Be More Embarrassed Than Gunmakers
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Musical Instruments:

Whole lotta debt: can Gibson guitars strike a chord again?
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Transit:

Charlotte Orders Electric Scooters Off Streets
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Museums:

In the Car Museum Race, Some Drop Out
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Healthcare:

AI is spooky good at predicting health care outcomes
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New Bankruptcy Opinions
(8 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Chapter 7, 12 & 13 Private Trustee Locator
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Recent Ch. 11 Filings (20 new filings today)
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Recent Ch. 11 Adversary Proceeding Filings (15 new filings today)
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Bankruptcy Code (html) - Bankruptcy Code (pdf) Prior BK Codes (pick year from list) - Bankruptcy Rules
(large downloads)

UCLA-LoPucki Bankruptcy Research Database
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Chapter 11 Bankruptcy Case Studies
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Bankruptcy Jobs:

(1) (2) (3) (4) (5) (6) (7) (8)
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Seminars - (Contact us to list your seminar)

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Ch. 13:

Courts Expand Eligibility for Chapter 13 Bankruptcy of Persons Seeking to Discharge Outstanding Student Loans
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Insiders:

Clear Error Review For Nonstatutory Insider Status ... For Now
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Jurisdiction:

“Public Rights” Doctrine for Bankruptcy Court Jurisdiction is Dead and Buried: Supreme Court’s Oil States Opinion
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Avoidance Actions:

Bankruptcy Court Holds That Transferee Not Liable For Intentional Fraudulent Transfer Where Funds Were Returned To Debtor
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Personal Finance:

Medicare covers less than you might think. Here's how to avoid surprises
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No, an allowance does not teach your children how to manage money
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Movie Theaters:

The owner of MoviePass is getting closer to zero
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Politics:

Bernie Sanders has a new plan to raise wages, and it's a major signal on where the Democratic Party is headed
(DBN)

Most Americans Want Citizens United Killed
(DBN)

Conway's Husband Tweets Anti-Trump Polls
(DBN)

Congress releases every Russian Facebook ad that ran during election
(DBN)

White House "strongly supports" Israeli attack on Iranian forces in Syria Trump Gets What He Wanted in Middle East
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Trump tweets details on historic North Korea summit John Kelly says Trump's 'got his eyes wide open' on the emerging diplomacy between the US and North Korea
(DBN)

Inside Trump's shock and brawl strategy with foreign leaders
(DBN)

Why the Democrats Just Lost the Senate
(DBN)

Reality check: Anti-Trump midterm wave could be more of a ripple
(DBN)

James Comey on Leadership, Trump, and Why He’s No Longer a Republican
(DBN)

NYT: Homeland Security chief drafted resignation after scolding from Trump The astonishing list of Trump officials who threatened to quit
(DBN)

Scrapping the Iran deal won’t do anyone any good Daring missile strike by Iran signals it could become more aggressive and do everything it can to skirt US sanctions Trump: I Want a New Iran Deal That's Better for Them
(DBN)

How to impeach a president
(DBN)

The Republican legislative agenda looks dead this year
(DBN)

Republicans are working with Democrats to force a controversial DACA vote — potentially infuriating Trump
(DBN)

Fox News military analyst says torture is effective because it worked on 'Songbird' John McCain John McCain memoir excerpt: ‘Vladimir Putin is an evil man’ White House Staffer on McCain: Who Cares? He's Dying Anyway White House aide mocked a 'dying' Sen. John McCain
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The 2 biggest scandals of Trump's presidency are suddenly converging
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Paul Ryan's Fiscal Legacy
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UK:

'The unreliable boyfriend returns': Bank of England leaves rates on hold in major u-turn
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Millennials Can't Get By On 10,000 Pounds
(DBN)

Taskforce Drafted In To Run 'Bankrupt' Tory-Led Northamptonshire Council
(DBN)

Senior Brexiteer: Break Up is Hard to Do
(DBN)

Alpha collapse causes “massive upheaval” 'A very serious situation' - Thousands of cabbies unable to work amid unrated Alpha collapse
(DBN)

Strategy That Killed SunEdison Is Now Beating UK Stocks
(DBN)

What Does Brexit Mean? U.K. Still Can’t Decide
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PIIGS:

Investors Can't Ignore Italy's Debt Arithmetic Forever
(DBN)

Trimmer Monte dei Paschi could speed cleanup
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China:

Chinese millennials rebel against grueling "996" work schedules
(DBN)

Zhejiang Ouhua Shipbuilding files for bankruptcy
(DBN)

The Fishing Port That May Become a $10 Billion Chinese Debt Bomb
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Argentina:

'Everything' in Argentina is 20% to 30% overvalued and a crisis is on the way, according to an economist
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Will Argentina’s woes spread?
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Argentina’s currency debacle puts its president in a tough spot as old wounds reopen
(DBN)

US says it backs Argentine president's economic reform program
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Argentina's fickle fortunes have turned sour once again
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MENA:

Israel says Iranian forces fired rockets at Golan Heights posts Israel Launches Most Extensive Strike in Syria in Decades After Iranian Rocket Barrage Is Iran and Israel's confrontation the start of a fresh Middle East crisis? Fears Grow as Israel and Iran Edge Closer to War The US slams fresh sanctions on Iranians accused of funneling money to elite armed forces After Israeli PM Netanyahu met Putin, Russia says it won't sell advanced missile defenses to Syria
(DBN)

US sanctions Iran currency network after Trump pulls out of nuclear deal
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Iran’s economy may be headed for a death spiral now that Trump nixed the nuclear deal
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Hong Kong:

Hong Kong GDP strongest in nearly 7 years
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Brazil:

Brazil Steel Boss Finally Commits to Asset Sales in Debt Fight
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South Korea:

South Korea takes more cautious view on GM Korea turnaround than U.S. automaker
(DBN)

U.S. activist fund Elliott to vote against Hyundai restructuring plan
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