November 21, 2018

The Daily Bankruptcy News

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Due to the Thanksgiving holiday, The Daily Bankruptcy News will not publish on Thursday and Friday, November 22-23, 2018



Law:

Cravath announces associate bonuses of up to $100K; Paul Weiss quickly announces a match The First Firm To Blow Cravath Bonuses Out Of The Water The Firm That Brought The $190K Salary Scale To Biglaw Has Announced Bonuses Biglaw Firm Gets In On The Associate Bonus Action NY Boutique Holwell Shuster Quick to Follow Cravath Bonus Scale Another Biglaw Firm Gives Associates Bonuses To Be Thankful For Another Firm Matches The Cravath Bonus Scale Biglaw Bonus Season Came Early… But Not As Early As It Used To Enjoy Your Bonuses Before The Associate Compensation Bubble Bursts And Biglaw’s Bottom Falls Out Biglaw Giant Rolls Out Bonuses — With Extra Cash Available For Senior Associates Biglaw Firm Offers 30 Percent Premium Over Scale For Top Billers!
(DBN)

6-carat diamond ring up for auction as lawyer is sentenced for hiding it in bankruptcy
(DBN)

Get ready for Black Friday and Cyber Monday with our 2018 gift guide for lawyers (gallery)
(DBN)

Akerman's Succession Plan Appears to Falter as Former Firm CEO Smulian Returns to Top Job
(DBN)

Amid 'Innovation' Buzz, Surveys Point to Law Firm-Client Mismatch
(DBN)

The Turkeys In-House Attorneys Deal With Every Year
(DBN)

Law Student Gets Reward Of Less Debt For Stopping Shooting
(DBN)

Legal challenges piling up against Trump's acting attorney general could mean problems for Mueller Matthew Whitaker's Financial Disclosures Show CNN, Consulting Income Schumer asks for probe into Whitaker's White House contacts The drama over Trump answering Mueller’s questions, explained Ken Starr: Mueller May Indict Trump Later Trump's lawyer says he won't answer Mueller's obstruction of justice questions Giuliani predicts Mueller won't subpoena Trump
(DBN)

Trump's business dealings could still face a Southern exposure
(DBN)

Trump Wanted DOJ to Persecute His Enemies Trump’s Yearning to Prosecute His Political Enemies Trump reportedly wanted to order the DOJ to prosecute Comey and Clinton
(DBN)

Federal judge halts Trump asylum ban Trump Calls Judge's Asylum Ruling Absurd Feds have paid undercover informants in migrant caravan Several white evangelical leaders reject anti-immigrant rhetoric. Why do their flocks embrace it? Military Backpedals on Border Deployments Number of Migrant Kids Held in US Soars Judge orders Trump administration to release Iraqis jailed by ICE
(DBN)

White House issues news conference rules as it restores Acosta’s press pass
(DBN)

GOP senators battle McConnell for vote on criminal justice reform
(DBN)

Judge Denies White House Bid to Delay Census Suit, Saying 'Enough Is Enough'
(DBN)

Michael Avenatti accuser Mareli Miniutti says he dragged her, left her with marks on skin Who is Mareli Miniutti? Avenatti's Lawyers Speaks on His Arrest
(DBN)

What are the ‘Ghost Face Gangsters?’ Feds indict 43 linked to white supremacist gang More than 40 members of Ghost Face white supremacists gang indicted in eastern Georgia
(DBN)

Former Nazi camp guard denies being aware of killings
(DBN)

82-year-old armed with BB gun robs bank
(DBN)

Does ‘Making a Murderer Part 2’ live up to its predecessor?
(DBN)

Judge takes first step to decide whether Happy the elephant should be released from Bronx Zoo
(DBN)

More Mexican leaders are being implicated in the Sinaloa cartel's dirty dealings during 'El Chapo' Guzman's trial
(DBN)

Law student gets $30K financial award after fighting off yoga studio shooter with vacuum and broom
(DBN)

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Judges:

Judge who told litigant he ‘symbolizes everything that’s wrong with the world’ is tossed from case
(DBN)

Ex-judge who got reduced sentence in wife beating is arrested in her stabbing death
(DBN)

President Trump Is Packing the Courts With Law Firm Partners
(DBN)

PACER: As Federal Courts Urge Caution On Docket Services, Vendors Respond
(DBN)

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Wall Street:

S&P 500 set to claw back from worst start to Thanksgiving week in nearly 40 years U.S. stock futures, oil prices up after market meltdown Tuesday Dow set to rise 150 points as tech shares rebound from big sell-off
(DBN)

Dow drops more than 450 points, erases 2018 gains as Target drags down retail Stock-market gains for 2018 vanish — Dow industrials plummet nearly 500 points Dow drops 500 points and all 30 components fall, led by Apple’s stock Dow off its lows but trading down more than 350 points
(DBN)

Dow Falls 950 Points, Or 4 Percent, In 2 Days
(DBN)

As the stock market and economy are set to skid, Goldman says cash will be king
(DBN)

Ray Dalio says it’s just like the 1930s for investors right now
(DBN)

Lockstep Pain Grips Markets as Credit Calls Tune in Equity Rout
(DBN)

Jeffrey Gundlach says stocks still haven’t hit a ‘panic low’
(DBN)

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Layoffs:

Bain and KKR establish a severance fund for Toys R Us workers Stanton Works Bain Capital's Fund for Fired Toys "R" Us Workers Toys R Us workers finally get severance: $660 How Laid-Off Toys R Us Workers Came Together To Fight Wall Street
(DBN)

Reports: Syniverse lays off 15 percent of its global workforce
(DBN)

Ikea to slash 7,500 jobs in restructuring Ikea was once touted as one of the best places to work. Now workers are fleeing over a policy they say has backfired spectacularly.
(DBN)

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Cryptocurrency:

As bitcoin nosedives, regulators said to be investigating whether it was propped up illegally
(DBN)

Bitcoin plunges 16% to below $4,250, a new low for the year
(DBN)

Victims of bitcoin insanity are quickly piling up
(DBN)

Crypto-mining host Giga Watt files for bankruptcy
(DBN)

So You Bought Bitcoin at $18,000?
(DBN)

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Student Debt:

Her student loan bill was $1,500 a month — then she got cancer
(DBN)

Gov't Questions Unfair Student Loan Practices
(DBN)

Here are the colleges doing away with student loans, by state
(DBN)

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Apparel:

LuLaRoe is facing mounting debt, layoffs, and an exodus of top sellers, and sources say the $2.3 billion legging empire could be imploding LuLaRoe's CEO tearfully addresses inventory problems in leaked audio
(DBN)

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Banking:

Deutsche Bank handled $150B of flows to Danske
(DBN)

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Climate:

Zinke calls current forest management principles "unacceptable" Trump administration calls for more logging to reduce wildfire danger
(DBN)

Wildfires Show Snowballing Effect of Climate Change: Study
(DBN)

The Earth has been warmer than average for 406 months in a row
(DBN)

In photos: Before and after the fury of a California wildfire
(DBN)

NYC: Coldest Thanksgiving in 100 Years
(DBN)

Bill could shield utilities from California wildfire costs
(DBN)

Palm Oil Was Supposed to Help Save the Planet. Instead It Unleashed a Catastrophe
(DBN)

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Movie Theaters:

Class-action lawsuits and 'F' ratings from the Better Business Bureau: Customers should be wary of MoviePass and Sinemia
(DBN)

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Solar:

What made solar panels so cheap? Thank government policy.
(DBN)

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Economy:

There's a $9 trillion corporate debt bomb 'bubbling' in the US economy
(DBN)

Is Demand for US Debt Drying Up?
(DBN)

The Cracks in Credit Markets Are Growing Deeper
(DBN)

Trump says he would like to see the Federal Reserve lower interest rates
(DBN)

Cramer: 'You'll wish you sold at these prices' if the Fed hikes rates in December
(DBN)

Powell is doing a better job than Trump, even if rates rising: CNBC CFO survey
(DBN)

Trade War: US Crops Rot as Storage Costs Soar Goldman Sachs on 2019: Raise cash, get defensive and look out below if more tariffs happen Huge U.S. trade deficit with China may prevent Trump and Xi from year-end deal Crops are rotting in fields as Trump’s trade war bites US farmers China has failed to alter 'unfair, unreasonable' trade practices, says US trade representative
(DBN)

Larry Kudlow says there's no recession in sight
(DBN)

Global growth will slow from here, say Nomura’s economists
(DBN)

Global Economic Agency: GDP Has Peaked
(DBN)

Hedge-fund boss who predicted ‘87 crash says get ready for some ‘really scary moments’
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

‘I Can Be the Bank’: Individual Investors Buy Busted Mortgages
(DBN)

Mortgage refinance applications hit 18-year low MBA: Mortgage Applications Decreased Slightly in Latest Weekly Survey
(DBN)

US homebuilding rose in October on a rebound in multifamily housing projects Housing starts rebound in October but single-family drought lingers Housing Starts Increased to 1.228 Million Annual Rate in October Comments on October Housing Starts
(DBN)

John Burns: Builder Confidence "Feels more like a 50 to me"
(DBN)

Housing Inventory Tracking
(DBN)

American homeownership increases again as housing market looks for balance
(DBN)

Salvaging Risky Mortgages
(DBN)

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Municipalities:

The COFINA Agreement, Part 2: Profits for the Few
(DBN)

Puerto Rico seeks more funds, help from Congress post-Maria
(DBN)

Detroit launches new redemption of bankruptcy-related bonds
(DBN)

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Oil/Gas:

Pacific Drilling Emerges from Bankruptcy
(DBN)

Bondholders push back on Mercuria Energy’s DIP proposal for Aegean
(DBN)

Big Oil Asks GOP to Kill EV Tax Credits
(DBN)

Oil prices plunge 7% as Trump says he'll stick by Saudis after Khashoggi killing U.S. oil benchmark sinks 7%, poised for lowest finish in over a year Oil prices plunge as stock market slides Oil pauses sharp plunge as U.S. inventories fall, but Saudi output under close watch
(DBN)

UAE: OPEC Very Likely To Agree To Oil Production Cuts
(DBN)

A death cross is forming in U.S. oil, underlining the unraveling of crude prices
(DBN)

Why plunging oil prices now hurt—yes hurt—the U.S. economy
(DBN)

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Tech:

Stocks wipe out 2018 gains as FAANG stocks slide into a bear market Tech's 'FAANG' stocks have lost more than $1 trillion and counting from highs amid tech rout A second 'FAANG' stock just went red for the year as popular tech trade dies Goldman Sachs downgrades Apple for 2nd time this month, warns Apple may have 'miscalculated' iPhone XR pricing strategy Goldman slashes Apple price forecast, sees stock going nowhere for a year Why the bad news on Apple keeps on coming Apple’s stock tumble makes it unanimous — the FAANG bull market has ended
(DBN)

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Retailing:

Ex-Toys R Us Employees Getting $20M In Financial Assistance Toys ‘R’ Us Gave Private Equity a Bad Image. Can $20 Million in Assistance Help? For jobless Toys ‘R’ Us workers, $20 million is nowhere near enough
(DBN)

Toys ‘R’ Us Asia aims to expand in the region after divorce from American parent
(DBN)

Cyrus's Last-Minute Change to Debt Sale May Cost Sears Millions Sears investors claim hedge fund Cyrus improperly influencing credit market: letter
(DBN)

These charts show which stores depend the most on holiday sales
(DBN)

Target shares take a beating after investments take a toll on margins Target CEO Brian Cornell says 'no sign' consumer spending is slowing ahead of holidays Target stock price target cut to $80 from $93 at Stifel Nicolaus Target's stock rallies 2.1% premarket, after tumbling 11.3% on Tuesday
(DBN)

Lowe's price target slashed to $97 from $105 at CFRA
(DBN)

Kohl's shares sink 9% as growth slows
(DBN)

Red Tuesday for retailers, as Target’s stock suffers worst stretch since the financial crisis The stock market rout spreads to big box retail
(DBN)

Barnes & Noble trims losses but sales fall
(DBN)

Gap's comparable sales miss as its namesake brand struggles
(DBN)

Struggling S. Illinois shopping mall to close on Dec. 16
(DBN)

'They treat us like disposable parts': An Amazon warehouse worker is waging war on working conditions in a new anonymous newspaper column
(DBN)

Gas stations and convenience stores could be hit hard as AVs roll out
(DBN)

The future of malls could look more like towns
(DBN)

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Food/Beverage:

Fish Farm Company Files for Bankruptcy Awash in $100M debt, VeroBlue files for Chapter 11, sues top management
(DBN)

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Electricity:

Ex-utility execs emotional over South Carolina nuke failure
(DBN)

PG&E climbs as California lawmaker plans fire-relief legislation California Lawmaker Plans Wildfire Relief Bill Clearway Seeks To Emerge From Camp Fire Fallout
(DBN)

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Advertising:

Visto Announces Bankruptcy, Conditional Sale to Zeta Global
(DBN)

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Autos:

California Car Dealers Abruptly Close Without Warning, but Massive SEC Fraud Probe Offers Hint
(DBN)

Nissan and Renault Chair Carlos Ghosn Was Reportedly Planning to Merge the Two Before His Downfall Carlos Ghosn set to remain as Renault CEO as probe into alleged wrongdoing expands Carlos Ghosn to be detained for another 10 days Ghosn scandal could trigger a series of crises for Nissan, Renault, Mitsubishi Renault board meets after arrest of CEO Ghosn in Japan Japan's Mitsubishi CEO says tough to manage car alliance without Ghosn Renault names Ghosn stand-ins amid tension over Nissan probe Carlos Ghosn’s arrest stirs anger and dismay among Nissan employees
(DBN)

GM Culture Could be Tested by Buyouts
(DBN)

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Maritime:

Bunker fuel supplier Aegean to continue payments during Chapter 11 process
(DBN)

Bondholders push back on Mercuria Energy’s DIP proposal for Aegean
(DBN)

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Aviation:

World Aircraft Repossession Index
(DBN)

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Healthcare:

Average Weight of Americans Since the 1970s
(DBN)

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Fraud:

Goldman Sachs downgraded by Morgan Stanley until Malaysian 1MDB scandal is 'resolved'
(DBN)

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New Bankruptcy Opinions
(9 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (27 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (4 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:

BK MN: Updated Filing Statistics
(DBN)

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Bankruptcy Rules:

ABA committee rejects bankruptcy rule change seeking to impose Rule 2004 proportionality requirement
(DBN)

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Litigation:

Hate missing deadlines? Here’s what you ought to know about court-rules-based calendaring software
(DBN)

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Venue:

Okla. Cancer Center Told To Justify Filing For Ch. 11 In Del.
(DBN)

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Mediation:

How a Mediator’s Failure to Disclose a Prior Mediation Creates Problems
(DBN)

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Politics:

Walmart asks GOP Sen. Cindy Hyde-Smith for donation back because of hanging comment furor
(DBN)

An economic downturn could ruin the one thing voters really like about Trump
(DBN)

Ivanka Trump’s email use prompts call for probe as ex-administration official says it ‘certainly looks bad’ House Oversight will investigate Ivanka Trump's use of personal email Ivanka Trump 'was the worst offender in the White House': Ivanka reportedly discussed government affairs using her personal email address Trump Defends Ivanka's Use of Private Email Ivanka Trump Isn't Fooling Anyone
(DBN)

Right Now It's Vicious in the West Wing
(DBN)

All the times Trump has snubbed the military
(DBN)

Trump's hyped claim that he called for rubbing out bin Laden in 2000 The Military Has Become Trump’s Favorite Prop
(DBN)

Trump's proclamation comes true: Rep. Mia Love loses re-election bid in Utah
(DBN)

Democrats are putting too much focus on corruption — it's not America's biggest issue. The real problems are much more serious.
(DBN)

Obama Trashes Trump: ‘Confused, Blind, Shrouded with Hate ... Mommy Issues’ Obama Says Trump ‘Obviously’ Doesn’t Share His Vision of America
(DBN)

House Democrats Don't Know What to Make of Alexandria Ocasio-Cortez
(DBN)

Russia 'will send missiles to Cuba'
(DBN)

Trump Isn't Crazy to Question Mike Pence's Loyalty
(DBN)

Trump's Base Isn't Enough
(DBN)

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Personal Finance:

Millennials who live at home with their parents pay higher car-insurance premiums
(DBN)

Hosting Thanksgiving costs hundreds of dollars — 5 ways to limit the damage
(DBN)

Men are more likely to leave jobs if their boss is a woman
(DBN)

Anonymous Couple Candidly Share Why They’re Drowning In Debt
(DBN)

Follow these credit-card hacks to rack up major savings while holiday shopping
(DBN)

7 awesome things you can get for FREE this Thanksgiving and Black Friday
(DBN)

Moving back in with your parents can affect your mental health
(DBN)

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Weddings:

David’s Bridal files for bankruptcy — it’s a timely reminder to get wedding insurance
(DBN)

David's Bridal is king of the wedding industry. How did it go bankrupt?
(DBN)

Bankrupt David's Bridal to Brides: REMAIN CALM
(DBN)

The decline of David’s Bridal says a lot about millennial attitudes toward weddings
(DBN)

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Magazines:

Glamour kills print mag
(DBN)

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Conglomerates:

If The PBGC Pressures General Electric, The Stock Could Crater
(DBN)

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UK:

Britain Enters the Greek Fallacy Brexit Phase
(DBN)

Broker reveals devastating cost of Alpha deal
(DBN)

This poll shows the attempted coup against Theresa May has badly backfired
(DBN)

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PIIGS:

ECB Official Warns QE Exit Could Spell Trouble for Italy's Debt
(DBN)

EU begins disciplinary procedures against Italy after rejecting its controversial budget plans
(DBN)

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MENA:

Trump just released a big statement about sticking with Saudi Arabia despite Khashoggi's killing Read Trump’s bizarre statement on Saudi Arabia and Jamal Khashoggi Trump says Saudi crown prince may not have known about Khashoggi killing Why the US won’t break up with Saudi Arabia over Jamal Khashoggi’s murder Where is Trump's Khashoggi Report? GOP Leaders Slam Trump Over Khashoggi Trump: Make Saudi Arabia Great Again Trump's manic statement letting Saudi Arabia off the hook for Khashoggi reveals a dark US secret Everlasting History of the US-Saudi Alliance Michelle Wolf responds to Trump trashing her comedy with a taunt about Khashoggi: 'I bet you'd be on my side if I had killed a journalist' The Brutal Truth Behind Trump's Love Affair With Saudi Arabia 'Saudi Arabia First, not America First:' Even top GOP allies of Trump are railing against his defense of Saudi Arabia over Khashoggi's brutal murder
(DBN)

Trump gives U.S. business a free pass on Saudi Arabia
(DBN)

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Venezuela:

A former US ambassador to Venezuela lays out what could be ahead for the crisis-ridden country
(DBN)

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India:

No bail-out for Jet Airways, management needs to run airline smoothly: Minister
(DBN)

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China:

One of China’s Biggest Defaulters Has a Scary $10 Billion Plan
(DBN)

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