May 15, 2018

The Daily Bankruptcy News

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Law:

Elite Law Schools Demand That Biglaw Firms Disclose Whether Students Will Be Forced To Sign Arbitration Agreements
(DBN)

Herbert Smith Freehills follows Linklaters in asking lawyers to disclose office romances
(DBN)

A Demand Turnaround for Law Firms? Not for Everyone
(DBN)

ABA Data Shows 15% Rise In Attorneys Over Last Decade
(DBN)

Kasowitz Among Creditors Hoping to Collect From $9M Dakota Apartment Sale
(DBN)

In Rare Move, A Small Firm Hires a Big Law COO as CEO
(DBN)

More Women Accuse Ogletree of Gender Bias in $300M Suit 3 new plaintiffs join amended gender discrimination complaint against Ogletree Deakins
(DBN)

Racking Up Those Billable Hours? This Michigan Lawyer Has You Beat
(DBN)

Biglaw Firms Become Tech Incubators
(DBN)

Over-50 & In Transition - Lawyers Need a "Temporary Identity"
(DBN)

Law Revue Video Contest 2018: The Winner!
(DBN)

The LSAT May Not Be Required For Law School Admissions For Much Longer Vote to Toss LSAT Mandate for Law Schools Slated for August
(DBN)

Former Prof, Student Sue ABA For Negligently Accrediting Charlotte Law School
(DBN)

Number of AI Companies in Legal Grows 65% In Last Year
(DBN)

ABA’s Focus on Lawyers’ Well-Being Is ‘Right Thing to Do’
(DBN)

How three successful lawyers developed their soft skills
(DBN)

Michael Cohen reportedly pitched Mark Cuban on working with one of his clients Michael Cohen reportedly pitched Uber on his services, but the 'bemused' company shot him down because of his taxi business Trump reportedly vents about the FBI raids of his lawyer Michael Cohen as often as '20 times a day' AT&T's Bill From Trump Lawyer Michael Cohen: Costly Only in Terms of PR What the Michael Cohen scandal reveals about corporate lobbying in the age of Trump Swiss prosecutors eye Novartis's deal with Cohen: reports Michael Cohen’s D.C. Consulting Career: Scattershot, With Mixed Success Michael Avenatti Posts Photos Of Cohen With Qatari Investor Accused Of Bribery
(DBN)

Is A Biglaw Firm About To Be Investigated By Robert Mueller? BigLaw Lawyers For Russian Business Entity Rips Mueller's Charges as 'Make-Believe' 'Buckle up': As Mueller probe enters second year, Trump and allies go on war footing Mueller's Probe Is Even More Expansive Than It Seems President's aides think Kushner, Trump Jr. could be indicted The Russians Try to Call Mueller's Bluff, File Request to View Secret Grand Jury Info Federalist Society Co-Founder Says Mueller's Investigation Is Unconstitutional Mueller Refutes Manafort’s Claim of Grand Jury Leaks by Government
(DBN)

Daily Caller Reporter Shares 'Off the Record' Legal Threat from Michael Avenatti After Negative Article Stormy's Lawyer Blasts Effort to Bar Him From Cohen Probe Stormy Daniels's Lawyer Defends Release of Cohen Bank Data Michael Avenatti’s Cryptic Tweets Stoking Suspicions of Another Bombshell Avenatti is Trump's Trump-like adversary Answering Critics, Avenatti Says Slaying Goliaths Is His Business Model
(DBN)

Contradicting Comey on Flynn—Again
(DBN)

Popular encrypted email standards are unsafe - researchers Yes, there’s an email encryption vulnerability; no, you (likely) don’t need to freak out
(DBN)

Trump Calls Waffle House Hero, James Shaw
(DBN)

Dreamers Face Crucial Test as Trump Urges Court to Undo Policy
(DBN)

Court rules for death-row inmate whose lawyer conceded guilt Accused man has the right to insist his lawyer refrain from conceding guilt, Supreme Court rules
(DBN)

After jury convicts him, man punches his lawyer and a courtroom brawl breaks out After Murder Conviction, Defendant Punches Lawyer During Courtroom Brawl
(DBN)

Federal judge accepts guilty pleas from lawyers in $4M phony billing scheme
(DBN)

“Dine-and-Dash Dater”: California Man Facing Charges After Running Out On Expensive Meals With First Dates
(DBN)

SUNY Student Reprimanded Under “Unwritten Policy” For Criticizing Liberal Intolerance At Open Mic Event
(DBN)

A Dallas diner runs afoul of the NRA … and business booms
(DBN)

Rihanna's stalker reportedly broke into her house, unpacked a bag, and charged his phone — then stayed for 12 hours
(DBN)

Uber to release victims of assault from mandatory arbitration Uber CLO Explains Decision To Scrap Mandatory Arbitration Clauses and NDAs Around Harassment, Assault
(DBN)

Chipotle wrongfully accused a manager of stealing $626. She just won millions in court.
(DBN)

NYC Legal Secretary Dies At 96. Her Secret Multi-Million Fortune Revealed
(DBN)

Court of Appeals judge 'struggled' over chimp rights fight
(DBN)

So, You No Longer Want To Be A Lawyer. Now What?
(DBN)

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Judges:

ABA Issues Opinion on Judicial Use of Internet for Factual Research
(DBN)

Even with Five Decisions Today the Court is Still Setting Records for its Slow Pace
(DBN)

Is Neil Gorsuch slowing down the Supreme Court?
(DBN)

Justice Anthony M. Kennedy: Should He Stay or Should He Go Now?
(DBN)

The Supreme Court and Sharia law: How a fake-news story spreads
(DBN)

Skadden's Michael Scudder Confirmed to 7th Circuit, Succeeding Posner Senate confirms two more of Trump’s judicial picks to the 7th Circuit
(DBN)

Film puts meat behind the ‘Notorious RBG’ image
(DBN)

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Wall Street:

Futures point to a lower open on geopolitical concerns Dow’s 8-session win streak in jeopardy as U.S. stock futures dip Stocks Struggle While Risk-Off Mood Spreads, Bonds Retreat
(DBN)

Dow closes higher for 8th straight session
(DBN)

S&P 500 should be 1,000-plus points lower than it is today, strategist Rosenberg says
(DBN)

An indicator that’s ‘90% accurate’ suggests hidden strength in the stock market
(DBN)

Wall Street’s ‘fear index’ is giving stock-market investors a wrong reading, says Goldman
(DBN)

Why making money in the stock market just got a lot more difficult
(DBN)

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Layoffs:

TJX Lays Off 300 Employees
(DBN)

Jeff Bezos: AI will create jobs, not kill them How the robot revolution can lead to job growth
(DBN)

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Gambling:

Supreme Court rules that ban on sports betting is unconstitutional US Supreme Court, Divided, Buys Into Wider Legalized Sports Betting Sports Betting Is a Victory for States’ Rights Supreme Court strikes down federal sports betting ban, paving way for NJ and other states Mark Cuban: Top sports team just saw their value double on Supreme Court betting decision Here Comes the Sports Gambling Apocalypse MGM, casino stocks jump after Supreme Court says states can legalize sports betting Supreme Court Bet Ruling a Win for Fan Duel, a Loss for Leagues What they're saying about sports betting Casino Stocks Rally After Ruling Opens Up $4 Billion Market The Bettor’s State-by-State Guide to Legal Sports Gambling Why U.S. Sports Betting Was Mostly Illegal, Until Now Will sports betting save Atlantic City and N.J. horse racing? Sports betting gets a green light, and the IRS will want in on the action
(DBN)

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Aviation:

Airline stocks fall as oil prices rise
(DBN)

MH370 investigators say captain deliberately crashed the plane in murder-suicide
(DBN)

Southwest Flight in 3rd Emergency Landing
(DBN)

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Currency:

Cryptocurrencies won’t lead us to a bright future, they’re taking us back to the Stone Age
(DBN)

Big Short Eisman Blasts Cryptocurrencies
(DBN)

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Travel:

Another Southwest flight forced to make terrifying emergency landing after cabin loses pressure
(DBN)

American Airlines Changes Emotional Support Animal Policy, But Mini Horses Can Still Fly
(DBN)

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Entertainment:

Hearing #4 was held in The Weinstein Co. bankruptcy and you won't believe what happened next
(DBN)

Project Runway Is Back at Bravo After Weinstein Bankruptcy
(DBN)

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Cameras:

Summary - Arecont Vision Holdings LLC New Delaware Chapter 11 Filing – Arecont Vision Holdings, LLC
(DBN)

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Farming:

Dairy farmers struggle with price slump, depression and suicide
(DBN)

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Electricity:

FirstEnergy Solutions Deep Dive
(DBN)

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Boating:

How the boating industry is getting slammed by Trump's trade war
(DBN)

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Healthcare:

Bankruptcy court OKs Omega's plan to offload 23 Orianna properties
(DBN)

Preferred Care Asks for Extension on Bankruptcy Restructuring Plan
(DBN)

The worries of medical equipment suppliers
(DBN)

Americans are paying more but getting less from health care
(DBN)

Oklahoma Woman Charged $15,000 For Four Tiny Screws By Hospital
(DBN)

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Guns:

Please, Please Buy This Gun Company
(DBN)

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Economy:

Goldman: Something strange is happening with the US economy that could cause interest rates to jump
(DBN)

How Much Money Do You Need to Be Rich in America?
(DBN)

The Fed will likely turn more aggressive in raising rates, says Deutsche Bank
(DBN)

How Rising Deficits Could Cause Interest Rates to Jump
(DBN)

The deficit-unemployment rate disconnect that could fuel higher interest rates
(DBN)

Two Trump nominees to begin perilous Senate journey to spots on Federal Reserve
(DBN)

Fed's Bullard says US yield curve might invert by early 2019 Fed's Bullard Blames Central Bank for Flattening Yield Curve
(DBN)

Here’s how much $3-per-gallon gas will offset the tax cuts Gasoline prices surge with oil above $70 a barrel Americans Upbeat About Finances Despite Higher Gas Prices
(DBN)

Federal Tax Cuts Leave States in a Bind Mapping the Losers from the New Cap on State and Local Tax Deductions
(DBN)

How GOP Tax Reform Could Bite You Next Year
(DBN)

Why Foreign Investors Could Be the Big Winners from the Tax Cuts
(DBN)

Economy Isn't Booming Because of Tax Cuts
(DBN)

China really is to blame for millions of lost U.S. manufacturing jobs, new study finds Trump's 'astonishing reversal' on a Chinese tech giant could signal a big shift in the trade battle Trump's Move to Ease Sanctions on ZTE Called 'Highly Unusual' ZTE’s Get-Out-of-Jail-Free Card We now know why Trump suddenly reversed course on sanctions against a Chinese tech giant Pompeo, Zinke urged crackdown on ZTE during Obama years Penalties against China telecom giant ZTE become a bargaining chip in potential trade deal Republican Sen. Marco Rubio warns: Trump's reversal on China's ZTE is a national security risk Trump's pledge to help China's ZTE spurs backlash in Washington China hails Trump's ZTE olive branch ahead of trade talks US, China Discussing Deal on ZTE, Agricultural Tariffs China Welcomes Trump's Help on ZTE as Trade Talks Loom Ross Says US Eyeing Alternatives to Sanctions on China's ZTE Trump’s hardline supporters sound alarm on his China moves White House Looks To Mitigate Trump's ZTE Reversal Fallout Trump Vows to Save . . . Chinese Jobs Trump Defends ZTE Concession After Sparking Bipartisan Rebuke 'Too Many Jobs in China Lost:' Why On Earth Is 'America First' Trump Vowing to Save China's ZTE? US and China are still 'very far apart' on trade: US ambassador Apple CEO Says He Told Trump Tariffs Are Wrong Approach to China
(DBN)

Trump's top economic adviser doubts the US can seal a new major trade deal with Mexico and Canada Trudeau, Trump Talk About NAFTA
(DBN)

IRS may nix blue states' workaround on tax deduction caps
(DBN)

It’s a Great Time to Be a Wealthy Heir After Trump Tax Overhaul
(DBN)

The 10 highest-paying entry-level jobs for college grads
(DBN)

These are the American cities with the shortest — and longest — work weeks
(DBN)

Payroll Employment and Seasonal Factors
(DBN)

LA area Port Traffic Increases YoY in April
(DBN)

Japan Hasn’t Had a Debt Crisis. Why Should the U.S. Worry About One?
(DBN)

Reasons for Living With Parents Differ by Race
(DBN)

Seattle backs new tax on largest companies, including Amazon Seattle targets Amazon, Starbucks with homelessness tax
(DBN)

There's No Such Thing as Moderate Marxism
(DBN)

Calling Cycle End Frustrated by $70 Billion of Credit Upgrades
(DBN)

Here’s How Much Americans Rely on Social Security
(DBN)

Satellite data strongly suggests that China, Russia and other authoritarian countries are fudging their GDP reports
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

11th Cir. Vacates Dismissal of Mortgagee’s Deficiency Claims Following Debtor’s Bankruptcy
(DBN)

New Jersey District Court Holds That a Real Estate Tax Foreclosure Sale Can Be Set Aside as a Preference under Section 547 of the Bankruptcy Code
(DBN)

CoreLogic: Declining foreclosure rates signal strengthening economy
(DBN)

Why it's so hard for millennials to buy homes
(DBN)

El Paso: 12 offers in for Abraham buildings, more expected
(DBN)

Woodbridge selling Aspen-area properties to expedite bankruptcy proceedings Bankrupt developer under investigation for fraud unloads Aspen properties to pay creditors
(DBN)

Attorney Convicted of Felony for Short Sale Antics
(DBN)

Lava threatens Hawaii exit routes and could spur more evacuations
(DBN)

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Municipalities:

Puerto Rico bondholders offer debt deal, snubbed by oversight board Puerto Rico oversight board rejects bondholder agreement Warring Puerto Rico bondholders pitch a deal that could resolve a big dispute in the island's debt restructuring Why Puerto Rico bondholders' rejected deal is a step forward Puerto Rico Bondholders Pitch $10 Billion Debt-Cutting Deal Puerto Rico Bonds Rally as Rival Creditors Float Settlement
(DBN)

Puerto Rico General Obligation Bondholders Announce Agreement on Settlement Framework for Commonwealth-COFINA Dispute Government Of Puerto Rico Calls Proposed G.O.-COFINA Settlement "Not Acceptable"
(DBN)

Congress was just handed a blueprint for solving Puerto Rico’s debt crisis
(DBN)

The Power Of Pro Bono: Biglaw Firm Scores Major Victory For Victims Of Flint Water Crisis
(DBN)

Where U.S. Teacher Pay Is Highest & Lowest School districts increasingly hiring foreign teachers to fill shortages
(DBN)

Kelso School District backs off " bankruptcy " claim
(DBN)

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Oil/Gas:

Shale gas exporters to gain from Iran sanctions
(DBN)

Oil holds gains as markets tighten amid OPEC cuts, Iran sanctions
(DBN)

OPEC: The Oil Glut is Now Gone
(DBN)

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Autos:

Tesla's problems are mounting — here's everything that has gone wrong so far this year Tesla is losing top talent and facing a cash crunch at a critical juncture Tesla's latest executive turmoil provides fuel for a group of skeptics hated by Elon Musk Tesla’s Fundraising Options Get Thornier Tesla is seesawing after announcing a restructuring plan Tesla Model S crashes in Utah, and more executives depart Tesla engineers wanted more sensors on cars, but executives pushed back Elon Musk hits back at report that Tesla didn't want to spend on sensors Elon Musk reveals new details about how Tesla is restructuring Here's the memo Elon Musk just sent announcing a major shakeup at Tesla Billionaire Ron Baron: We're going to make '20 times our money' in Tesla
(DBN)

Subprime Auto-Default Rates Top 2008 Level, and Lenders Cut Back
(DBN)

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Retailing:

Sears Buoyed by Asset Plan That Analyst Sees as Bankruptcy Hint Lampert Buoys Sears With Plan to Sell Assets Offered Years Ago Sears shares jump after board initiates formal process to sell assets including Kenmore brand Sears pulls together special committee to review asset sales, including Kenmore If Sears Succeeds in Selling Its Kenmore Brand, What's Left? Sorry Eddie Lampert, Sears Isn't Even in the Same League as Walmart and Target
(DBN)

The clock is ticking for Ascena
(DBN)

Toys R Us CEO and other execs leave the company
(DBN)

US judge to consider Smyth's bid to buy Toys R Us European stores
(DBN)

Bankrupt Toys "R" Us puts Geoffrey the Giraffe on auction block
(DBN)

Home Depot's stock down premarket after sales miss
(DBN)

Macy’s earnings: Shares are rising but same-store sales are not
(DBN)

Barnes & Noble: why it could soon be the bookshop's final chapter
(DBN)

Footwear brand files for bankruptcy; store closings likely
(DBN)

Amazon Doesn't Have to Be Retail's Worst Nightmare
(DBN)

Mall for One and One for Mall
(DBN)

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Footwear:

New Chapter 11 Filing - The Rockport Company LLC Rockport Group Files for Bankruptcy Rockport Plans Sale to Equity Group in Bankruptcy Move Adidas Gets Caught In Rockport Bankruptcy New Delaware Chapter 11 Filing – The Rockport Company, LLC
(DBN)

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Finance:

Moody's warns bondholders that uncertainty surrounding Libor phase-out will be credit negative
(DBN)

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Private Clubs:

Pittsburgh Athletic Association's revised plan wins conditional approval from judge
(DBN)

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Advisors:

Houlihan Lokey Upgraded to “Hold”
(DBN)

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Celebs:

18 celebrities who were rich and famous before losing all their money
(DBN)

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Biofuels:

Farm state senators tell EPA to stop giving big oil refiners a pass on biofuels rules
(DBN)

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Student Debt:

How Parent PLUS Worsens the Racial Wealth Gap
(DBN)

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Hotels:

Bankruptcy judge: The time to sell the Pere is now
(DBN)

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Newspapers:

Draft complaint prompts mediation in Rogoff bankruptcy
(DBN)

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Maritime:

Insights for operators facing vessel enforcement
(DBN)

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New Bankruptcy Opinions
(2 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (23 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (8 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:

Weekly Bankruptcy Claims Trading Activity
(DBN)

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Litigation:

New York Bankruptcy Court Permits Discovery Requests in Chapter 15 Case Despite Potentially Conflicting Cayman Islands Law
(DBN)

U.S. Senators Introduce Bill to Require Litigation Funding Disclosure What Are People Saying About Senate's New Lit Funding Bill?
(DBN)

Burford Capital comments on The Litigation Funding Transparency Act of 2018
(DBN)

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Miscellaneous:

Links for Restructuring Professionals to Key Cases, Articles, and News Briefs
(DBN)

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Avoidance Actions:

Pre-Petition “New Value” Counts Toward The Preference Defense; Post-Petition “New Value” Does Not
(DBN)

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Trustees:

BK SD OH Seeks Ch. 7 Trustee
(DBN)

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Plan Confirmation:

Ninth Circuit Ruling Eases Plan Acceptance Requirement In Multi-Debtor Plans of Reorganization
(DBN)

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Politics:

Sean Hannity, Rupert Murdoch reportedly on White House switchboard list of 'cleared callers' to Trump The Strange Cocoon of Donald Trump and Sean Hannity
(DBN)

Amid Political Disarray, Pence Reaches for Control of G.O.P.
(DBN)

Rise from Uber driver to chief of staff startles some HUD observers
(DBN)

John McCain is Dying and That Matters McCain, Trump and a Moral Universe
(DBN)

Ryan Can Cash In with Law, Lobbying Firms After Leaving Congress
(DBN)

Trump’s drug price retreat adds to list of abandoned populist promises
(DBN)

Scott Pruitt requested, received 24/7 security starting on his first day at EPA
(DBN)

U.S. Congressional Job Approval at 17% in May
(DBN)

Why Trump's White House never says sorry
(DBN)

Electoral College Favors Republicans
(DBN)

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Solar:

Solar company 'aligns' with Trump to survive his tariffs
(DBN)

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Food/Beverage:

Tops gets judicial approval to close some stores
(DBN)

Bankruptcy judge confirms reorganization plan for Southeastern Grocers
(DBN)

FL: Judge orders Posto 9 in Lakeland to close immediately
(DBN)

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Pharma:

Your guide to the Trump drug price plan: who it affects and how Trump’s big campaign promise on drug prices wouldn’t have worked, Health and Human Services secretary says Trump's pharma plan highlights drug coupons Krugman: What’s Good for Pharma Isn’t Good for America Krugman: Why America is Big Pharma’s sucker of last resort
(DBN)

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Pensions:

Rhode Island Pension Plans Total $2.4 Billion Shortfall
(DBN)

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Brides:

Phoenix bridal shop closes unexpectedly, customers concerned about orders
(DBN)

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Transit:

Cheap Dockless Bikes Are Flooding the World
(DBN)

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UK:

Landlords and Insolvency - Protect your right to full rent
(DBN)

Carillion used suppliers to hide extent of debt
(DBN)

Professionals Hiding Dirty Money For Crooks Is Top Threat, UK Warns
(DBN)

Taking advice from professionals is not a “get out of jail free” card for directors in the event of insolvency
(DBN)

Crumbling Britain: one town's revolt against a bankrupt council to save its local library
(DBN)

Theresa May's Brexit plans are 'undeliverable' warns former head of UK civil service
(DBN)

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EU:

Bankruptcy Forum Shopping in Europe
(DBN)

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PIIGS:

Chasm widens between IMF, Berlin on Greek debt relief
(DBN)

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Canada:

Sears DB members facing bleak payout prospects as company reduced to ‘shell of itself’
(DBN)

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Venezuela:

Venezuela’s Oil Meltdown Is Getting Worse
(DBN)

Creditors rush to seize Venezuelan oil assets as country faces economic peril
(DBN)

Collapsing Venezuela oil exports seen to be pushing prices higher
(DBN)

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MENA:

Donald Trump keeps promise, opens Jerusalem embassy Donald Trump keeps promise, opens Jerusalem embassy US Embassy Move: 90 Dead, 11,500 Wounded in Gaza Protests Unbelievable photos show how chaotic the scene is on the ground where Israeli forces are killing Palestinians protesting the US embassy move US Has Blocked UN Call for Probe into Palestinians' Deaths Dozens of Palestinians, including children, killed in Gaza clashes as U.S. opens Jerusalem embassy Gaza violence sparks diplomatic crisis Trump Supporters Claim Vindication Over Muted Palestinian Reaction Jared Kushner hypes peace deal as Israel kills scores of Palestinian protesters during US embassy move to Jerusalem Kushner: Palestinian Protesters the Problem Trump administration abandons peace push as Israel kills dozens in border struggle with Hamas, Palestinians Jerusalem Embassy: The Move Was Not About Peace The Real Dispute Driving the Israeli-Palestinian Conflict Military Dispatched to Protect Middle East Embassies Gaza Braces For More Protests As World Calls For Calm
(DBN)

Columbia law professor Franke blocked from entering Israel and deported
(DBN)

Dubai Buyout Firm Reassures Banks on Liquidity Concerns
(DBN)

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Argentina:

Fears of crisis deepen as Argentina's currency hits new low
(DBN)

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South Korea:

GM Korea cancels news briefing as temporary workers storm venue
(DBN)

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Croatia:

Croatian Deputy Premier Resigns Over Role in Agrokor Law
(DBN)

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India:

Aircel creditors , financial lenders file claims for recovery with IRP
(DBN)

India’s latest stressed loans mess: Current power debacle is 20 times bigger than Enron
(DBN)

Orchid Pharma faces liquidation as lenders reject resolution plan
(DBN)

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Russia:

Debt Paradox Means Russia Borrows More Despite Rally in Oil
(DBN)

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Germany:

Germany Set for Slowdown
(DBN)

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China:

China’s debt-trap diplomacy is spreading across Africa
(DBN)

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Australia:

Record number of West Australians seek bankruptcy and deals to clear mounting debt
(DBN)

How Misbehaving Australian Banks Are Causing Global Pain
(DBN)

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