December 11, 2019

The Daily Bankruptcy News

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Law:

Biglaw Bonus Bankroll: The Associate Compensation Scorecard (Fall 2019)
(DBN)

Morrison & Foerster Women Reveal Names in Pregnancy Class Suit
(DBN)

Exponential Threats Push Law Firms to Tipping Point
(DBN)

Arent Fox Names New Bankruptcy Partner In Los Angeles
(DBN)

Next Economic Downturn Will See Increase in Structured Finance Litigation
(DBN)

Richest Law Firms' Edge Fades as Industry Insiders Predict Strong 2020
(DBN)

"I am a first year associate at a big law firm and I am miserable. Is it too soon to leave?"
(DBN)

In Suit Against Kilpatrick Townsend Partner Pair, Mystery Recruiter ID'd as James Wilson
(DBN)

The lowdown on US law firms in London
(DBN)

Startup aims to give promising law grads another way into BigLaw
(DBN)

'Lawyers using the technology will triumph over those who do it the old way'
(DBN)

Lawtech could cull 35,000 legal roles by 2027
(DBN)

Honigman Gets Into Staff Attorney Game with New 'Professional Track'
(DBN)

Prosecutor Hoping for 2020 Trial in Mayer Brown Partner's Killing
(DBN)

“Perhaps Some of the Language ‘Crossed the Line’ of Civility”
(DBN)

Meet the women suing America’s biggest companies over equal pay
(DBN)

The One Thing That Might Force Law Schools To Be More Practical
(DBN)

Who Says You Have To Go To An Ivy League Law School To Have A Successful Legal Career?
(DBN)

King & Spalding Elects 21 New Partners and Promotes Four Counsel Across Eight Offices
(DBN)

On The Retirement Of Miles Ruthberg And The Rise Of Litigation At Latham & Watkins
(DBN)

Wealthy Penn Law alumnus protests treatment of Amy Wax
(DBN)

BigLaw’s Little Addiction Secret Reveals Itself During the Holiday Season
(DBN)

NYC Litigation Boutique Sued for ‘Absurd’ Fees
(DBN)

CYA: The Best Gift You Can Give A Business Partner This Holiday Season
(DBN)

After Posting 'OK To Be White' Fliers, Law Student Kicked Out of School Student Expelled After Posting ‘IT’S OKAY TO BE WHITE’ Flyers At Law School
(DBN)

22-Year-Old ‘Damsel’ Offers… Something In Exchange For Legal Services
(DBN)

Ex-GC Claims CFO Was Fixing Books to Give Executives Bonuses
(DBN)

In-House Counsel Make Increasingly Arcane Billing Demands And It’s Costing Firms Money
(DBN)

Ex-FBI Lawyer Lisa Page, Taunted by Trump, Accuses DOJ of Violating Her Privacy by Leaking Texts Former FBI lawyer Lisa Page sues Justice Department
(DBN)

U.S. seeks no prison time for Trump campaign aide Gates, citing 'extraordinary assistance' in Mueller probe Prosecutors: Mueller Witness Whose Testimony Doomed Manafort Was Offered Money Not to Cooperate
(DBN)

Meet The Lawyer Who Turned A Grocery Bag Into A Professional Fashion Statement
(DBN)

Law Professor Found Dead, No Foul Play Suspected
(DBN)

Trump lashes out at FBI director in wake of Justice Department inspector general's report FBI director shows independence from Trump and Barr in responding to report on Russia probe AG Barr Ripped for Pro-Trump Bias in Wake of Attacks on OIG Report: 'Subverted the Findings' The shamelessness of Bill Barr Calls for ‘Compulsive Liar’ AG Barr to Resign Swell After Misleading Statement About DOJ’s FBI Report Barr Calls Start of Trump Campaign Probe ‘Flimsy’ and ‘Baseless’ Barr attacks Russia investigation as "completely baseless" Preet Bharara to House GOP Lawyer: Calling Trump a Clown Isn’t Election Interference, It’s a ‘Correct Consensus Opinion’ DOJ IG Report Damning for FBI
(DBN)

Mike Huckabee files bar complaint against lawyer for Twitter ridicule, including ‘beach thief’ nickname
(DBN)

Pompeo says there's no mistake about meddling in 2016 election, as Russia's Lavrov demands more evidence
(DBN)

Seemingly, None of the Emoluments Cases Against Trump Have Gotten It Quite Right
(DBN)

How Giuliani Went From America’s Mayor to Trump’s Lawyer
(DBN)

Avenatti Wants His Big Spending Ways Kept Out of Nike Trial
(DBN)

DOJ Argues Trump Can Profit from Foreign Governments Until Congress Passes a New Law
(DBN)

A N.D. county was poised to be first to bar refugees under Trump's executive order. Its residents said no.
(DBN)

Judge Blocks Trump From Using Military Funds for Border Wall
(DBN)

Doctors Barred From Giving Migrants Free Flu Shots Vow to Protest Outside Border Patrol Stations Until CBP Lets Them In
(DBN)

Texas Police Chief Slams McConnell, 'Smug' Republicans Over Gun Violence
(DBN)

Jersey City shooting: Multiple people killed, including a police officer 6 dead in New Jersey shootout, including officer and three civilians, police say
(DBN)

Navy grounds about 300 Saudi aviation students after Pensacola base shooting
(DBN)

More Gun Cases Waiting in High Court Wings if NY Dispute Flops
(DBN)

Chevron’s Effort to Collect From Extortionist Lawyer May Proceed
(DBN)

Law School Student Wins $100K To Pay Off Loans In Dr. Pepper Football Challenge
(DBN)

Iowa man sentenced to 14 years in prison for violent plot to hijack domain name
(DBN)

Bill Cosby loses appeal to overturn sexual assault conviction
(DBN)

WVU law school student explains $100,000 win
(DBN)

Miss USA, a Charlotte lawyer, falls short of the Miss Universe title but makes top 10
(DBN)

Lawyer Drama Pauses 'The Walking Dead' Wrongful Death Trial - This is the best closing argument I’ve ever seen, but it doesn’t remotely resemble an opening statement”
(DBN)

High Court puts brakes on Australia's litigation funding boom with landmark ruling
(DBN)

Genealogy Site Sold to Firm That Helps Police
(DBN)

Sanctions motion by BigLaw firm alleges plaintiffs made up pay-bias claims 'out of whole cloth'
(DBN)

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Judges:

Philadelphia Court Tops 'Judicial Hellholes' List After $8B Risperdal Verdict
(DBN)

Openly Gay Trump Nominee Confirmed to Ninth Circuit
(DBN)

‘Not Qualified’ Nominee for Ninth Circuit Likely To Be Confirmed
(DBN)

Tenn. Atty Suspended Over False Accusations Against Judge
(DBN)

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Wall Street:

US stock futures point to flat open ahead of the Fed rate decision
(DBN)

Stocks slip as investors brace for looming trade deadline Traders Buy Hedges ‘Like World Is About to End’
(DBN)

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Layoffs:

Layoffs Watch ’19: Jim ‘Just In Case’ Gorman’s Got Some Bad News
(DBN)

Verizon Media plans to lay off 150 people this week
(DBN)

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Retailing:

ESL-Sears Bankruptcy Brawl Gets Examiner on Contested Millions
(DBN)

RTW to shutter up to 30 stores in coming weeks
(DBN)

Hudson's Bay loss widens amid takeover battle Hudson's Bay quarterly loss widens on discounts amid take-private battle
(DBN)

Likelihood of Destination Maternity’s Shutdown Advances with Stalking Horse Bidder Deal
(DBN)

Pier 1 hires financial advisers
(DBN)

ShoppingTown makes reduced tax payments ordered by bankruptcy court
(DBN)

Video of a FedEx worker struggling under the weight of a 144-pound package reveals the human impact of online shopping
(DBN)

Move Over, Malls, as Mobile Shopping Booms
(DBN)

Shoppingtown Mall Has Finally Paid Its Taxes... At Least, Some Of Them
(DBN)

GameStop Tumbles After Loss Exceeds Most Pessimistic Estimate
(DBN)

The Intellectual Property Assets of Fred's Discount Retailer Are For Sale
(DBN)

Home Depot forecasts 2020 sales growth below expectations
(DBN)

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Movie Theaters:

Raleighwood Cinema files for bankruptcy
(DBN)

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Agribusiness:

As Beijing redraws its agricultural supply lines amid the trade war, US farmers may have lost their China market share for good
(DBN)

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Student Debt:

Student Loans A Lot Like The Subprime Mortgage Debacle, Watchdog Says
(DBN)

University of Phoenix Cancels $141 Million in Debt for ‘Deceptive’ Ads
(DBN)

DeVos Launches Latest Bid to Revamp Student Loan Forgiveness Plan
(DBN)

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Taxis:

Uber and Lyft ‘Well Positioned’ to Turn a Profit, Barclays Says
(DBN)

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Fraud:

Trump Pays $2 Million to Charities Over 2016 Foundation Misuse
(DBN)

Three Men Are Charged in $722 Million Cryptocurrency Fraud
(DBN)

Honky Tonk Heartbreak? Authorities Bust Country Music Ponzi Scheme Touting "Next Taylor Swift"
(DBN)

Why 12 Republican Representatives Voted Against Banning Insider Trading
(DBN)

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Economy:

Here's why the Fed may not be done cutting rates
(DBN)

The Fed is expected to hold rates steady and vow to keep short-term lending markets stable
(DBN)

Here’s exactly how much extra money the ‘old boys’ club’ gives men over their career
(DBN)

Credit Suisse shocking call: Fed will launch ‘QE4’ before year-end to stem Street cash crunch
(DBN)

US economy is expected to be in a recession in the second half of 2020 - Rabobank
(DBN)

What impending recession? New survey shows most people think they will be better off next year
(DBN)

Have We Really Escaped A Recession? Google It.
(DBN)

Only The Financial Pundits See Recession
(DBN)

Outlook 2020: How Real Is The Risk Of Recession?
(DBN)

US Recession Watch, December 2019 - Recession Odds Down on US-China Trade Deal Hopes
(DBN)

The Fed will stay in hibernation until at least summer: CNBC survey
(DBN)

A lesson in measuring the federal debt - The many ways to calculate how much the U.S. federal government owes
(DBN)

How Gen X, millennials and Gen Z became the low-inflation generations
(DBN)

A Q&A With Esther Duflo, Who Wins Nobel Economics Prize Today
(DBN)

Trump administration reportedly plans to delay China tariffs set to take effect Sunday Larry Kudlow says Dec. 15 tariffs are ‘still on the table’ after reports of possible delay Cramer skeptical of a report that the US plans to delay Sunday’s deadline on new China tariffs ‘Mountain of mistrust’ blocking US-China interim trade war deal Is China undermining the global economic order or helping build it? Trump is reshaping U.S. trade policy, but not at promised scale Trade has put markets in a chokehold
(DBN)

US shuts down WTO appeal court Trump blocks global trade referee powers just ahead of planned China escalation America Damaged by Defanging WTO
(DBN)

Democrats and the Trump administration near a tentative North American trade deal House Democrats say they'll back USMCA Pelosi, Democratic leaders see revised NAFTA as model for future trade deals Nancy Pelosi defends House Dems backing USMCA Trump's new trade deal looks a lot like NAFTA. Here are key differences between them Canada, Mexico, U.S. sign changes to new NAFTA How Pelosi Got to Yes on NAFTA 2.0 Now McConnell Will Delay NAFTA 2.0 'Terrible new standard': Toomey rips Trump's trade deal
(DBN)

Kudlow Says No Decision on Brazil, Argentina Steel Tariffs
(DBN)

What recession? US small-business sentiment jumps the most in 18 months Small Business Optimism Index Increased in November
(DBN)

Suburban Jobs Are Growing Fastest, But Urban Jobs Pay More
(DBN)

Workers locked down with noncompetes
(DBN)

Capitalism is broken. It's time for something new.
(DBN)

OK Boomers, About That Working-Through-College Thing
(DBN)

Biden: Trump Tax Cuts ‘a Disaster for the Middle Class’
(DBN)

The No. 1 job of 2019 pays $140,000 — and its hiring growth has exploded 74%
(DBN)

Public and Private Sector Payroll Jobs During Presidential Terms
(DBN)

Millennials aren’t as debt-ridden as you may think, but many struggle to wipe out their balances
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Housing Market In 2020: Boom Or Bust?
(DBN)

MBA: Mortgage Applications Increased in Latest Weekly Survey Refinance boom pushes weekly mortgage applications higher
(DBN)

Seattle Real Estate in November: Sales up 21.7% YoY, Inventory down 21.1% YoY
(DBN)

New York City's Luxury Condo Hangover
(DBN)

Arkansas senator blasts WeWork at hearing: Adam Neumann 'is the reason people in America are open to socialism'
(DBN)

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Municipalities:

Sacramento City School District At Tipping Point: Insolvency Next Year 15% Teacher Raises Doomed Sacramento City School Budget: Audit
(DBN)

Chicago, Detroit lag U.S. big cities in recession readiness -Moody's
(DBN)

'Despicable': Internal Emails Reveal Water Contractor Knew About Lead Risks in Flint Months Before City's Public Confirmation
(DBN)

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Oil/Gas:

Houston oil field services co. extends negotiations with creditors
(DBN)

Emerge Energy Creditors Say Ch. 11 Plan Undervalues Co.
(DBN)

Chevron to take up to US$11B writedown on gas, Gulf assets
(DBN)

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Healthcare:

Bankruptcy court approves Senior Care Centers’ reorganization plan
(DBN)

KPC Group misses key deadline on Verity hospitals purchase
(DBN)

Sen. Chuck Grassley Wants a Hospital System That Sued Poor Patients to Explain Itself
(DBN)

Congress can't get its act together on lowering drug prices or eliminating surprise medical bills
(DBN)

'What Kind of a Statute Is That?' DOJ Faces Skeptical Supreme Court in $12B Obamacare Dispute Obamacare had an unusually good day at the Supreme Court Will SCOTUS give Obamacare insurers $12B payout?
(DBN)

The Healthiest — and Unhealthiest — US States
(DBN)

To Fix a Broken Economy, Paul Volcker Had to Choose Between Crippling Inflation and a Bruising Recession
(DBN)

The Rising Tide of Health Care Costs Health Spending Hits Record High, Even With 1 Million Fewer Insured
(DBN)

Republicans, Democrats Diverge in Views of Own Healthcare
(DBN)

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Utilities:

Paul Singer Gets Burned
(DBN)

PG&E Bankruptcy Judge Shoots Down $16 Million Bonus Plan
(DBN)

How PG&E fight could endanger major California housing bill
(DBN)

With PG&E $13.5 Billion Fire Settlement, How Much Is Left After Taxes?
(DBN)

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Politics:

Trump’s FBI director sharply breaks with the president as new fissures erupt in the Justice Department Trump fires back at Chris Wray after the FBI Director sharply breaks with the president on IG report Trump Is 'Lying' About the IG Report, Former FBI Assistant Director Claims: 'The President Hasn't Read It' 'Corroboration Zero': An Inspector General's Report Reveals the Steele Dossier Was Always a Joke John Durham’s Troubling Statement on OIG Report Can Only Be Interpreted as ‘Political’
(DBN)

Donald Trump Beats Every Democrat Frontrunner In Three Key Battleground States Amid Impeachment: Poll
(DBN)

House Democrats announce articles of impeachment against Trump Impeachment Hearings Have Done Nothing to Change Republican Minds: Poll Democratic Lawmaker Gets GOP Lawyer to Admit Ukraine Interference Theory Lacks Evidence What is and what is not an impeachable offense?
(DBN)

Giuliani says Trump asked him to brief Justice Department, GOP senators on Ukraine trip Crazy Rudy Finally Divorces
(DBN)

The Legal Strategy Behind Keeping Impeachment Simple The Trade-Offs in the Articles of Impeachment
(DBN)

Warren wants a "blue new deal"
(DBN)

Michael Bloomberg is widely unpopular following campaign launch, poll finds
(DBN)

Pete Buttigieg is poised to rake in even more Wall Street money
(DBN)

Trump again showed his misunderstanding of basic NATO financing
(DBN)

Trump considers former chemical industry executive to lead Consumer Product Safety Commission
(DBN)

In the capital of the Confederacy, a new monument and a chance to change the narrative
(DBN)

‘You have absolutely zero power’ — I was a McKinsey consultant like Pete Buttigieg Buttigieg Says McKinsey Clients Included Blue Cross, Best Buy
(DBN)

Pete Buttigieg asked if taking big money out of politics includes not taking money from billionaires, he responds: 'No'
(DBN)

Krugman: Donald Trump Is Bad for the Jews Trump's plan to sign antisemitism order raises fears it could stifle Israel criticism
(DBN)

Tucker Carlson Draws A Line
(DBN)

WH: Trump Warned Russia on 2020 Election
(DBN)

Kentucky to Restore Felons' Voting Rights
(DBN)

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Dairy:

America’s Dairy Farmers Are Hurting. A Giant Merger Could Make Things Worse.
(DBN)

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Crypto:

Feds Arrest Three Men For Alleged $722 Million Cryptocurrency Ponzi Scheme
(DBN)

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Pharma:

Investors fear Pelosi’s drug price plan will kill small biotech firms Alexandria Ocasio-Cortez says she plans to oppose House Speaker Nancy Pelosi’s drug pricing bill
(DBN)

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Corporate Governance:

What Risk Trends in 2020 Should Be on Directors and Officers’ Radar Screens?
(DBN)

Nearly 150 CEOs departed in November, putting 2019 on track to be record year for executive exits
(DBN)

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Food/Beverage:

Restaurant Performance Index increased in October
(DBN)

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Cannabis:

After 'blood spilled' in 2019, pot firms brace for 2020 repeat
(DBN)

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New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (16 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:

FTI: If This Is a Great Economy, We’ll Take Some More of It - Restructuring Activity Nears 2016 Highs While S&P 500 Surges to New Record
(DBN)

BK CD CA: Bankruptcy filings fall a little in November 2019
(DBN)

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Bankruptcy Reform:

Thinking out loud about the new Small Business Chapter 11
(DBN)

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Bankruptcy Crimes:

Kentucky businessman gets 18 months in bankruptcy fraud
(DBN)

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Mediation:

Is an Assault Committed During Mediation Protected by Confidentiality?
(DBN)

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Committees:

Bankruptcy Court Finds Committee Member To Have Breached Her Fiduciary Duty To Unsecured Creditors
(DBN)

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Awards:

14th Annual Turnaround Award Winners
(DBN)

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Litigation:

Practice Tip: Responding to Complaint Allegations that Contain Privileged Information
(DBN)

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Liens:

Protecting Lenders and Noting Liens: Lessons Learned from a Recent Bankruptcy Case
(DBN)

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Consumer Finance:

Bankruptcy Promised Me a Fresh Start. Predatory Lenders Are Trying to Ruin It.
(DBN)

Credit Card Debt Study: Trends & Insights National Credit Card Delinquency and Charge-Off Rates
(DBN)

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Trucking:

Experts surprised by Celadon bankruptcy: ‘worst-case bankruptcy scenario’
(DBN)

Help For Celadon Employees After Company Files For Bankruptcy
(DBN)

More Celadon fallout: Next steps for two operators
(DBN)

'I have no idea of how I'm getting home': Truckers struggle after Celadon bankruptcy
(DBN)

Celadon bankruptcy leaves more than 3,000 truck drivers jobless during the holidays
(DBN)

Truck Drivers Stranded While Making Deliveries As Trucking Firm Files for Bankruptcy
(DBN)

Hyndman closed as Celadon files for bankruptcy
(DBN)

Canadian carriers court drivers from bankrupt Celadon’s Hyndman Transport
(DBN)

Bankrupt Celadon’s Mexican carrier Jaguar Transportation reportedly halts services
(DBN)

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Education:

Report details federal money wasted on defunct charter schools
(DBN)

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Climate:

Exxon prevails over New York in climate change lawsuit NY Supreme Court Justice Hands Big Win to ExxonMobil in Environmental Fraud Case
(DBN)

How Maritime Emissions Compare To Cars
(DBN)

Greenland's ice losses have septupled and are now in line with its highest sea-level scenario, scientists say
(DBN)

This year's Atlantic hurricane season was worse than normal, but it wasn't nearly as destructive as much of the last 10 years
(DBN)

California Must Sound Alarm Over Rising Seas, Analysts Say
(DBN)

Politicians Fiddle While Australia Burns
(DBN)

A warming Arctic may have global consequences
(DBN)

Greenland Melting Could Leave 400 Million Underwater by 2100
(DBN)

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Coal:

Agency says coal workers need more bankruptcy protection
(DBN)

Report: black lung funding cut will cost taxpayers billions
(DBN)

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Aviation:

Why you won't fly on a 737 Max again for quite some time
(DBN)

Boeing books first official orders of 2019 for grounded 737 Max
(DBN)

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Distressed Investing:

A Massive Loan Trade Highlights Rifts in Junk-Debt Markets
(DBN)

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UK:

Business Support and Insolvency Autumn round up
(DBN)

North East resilient to insolvency risk – report
(DBN)

UK economic growth slowest since early 2009 UK economy: Flatlining growth blamed on Brexit and global slowdown
(DBN)

'We’re sorry for Thomas Cook refund delay' Creditors call for Thomas Cook subsidiaries to be forced into bankruptcy Germany to repay customers of insolvent Thomas Cook
(DBN)

Ted Baker chief executive quits as retailer warns on profits
(DBN)

Thomas Cook Bankruptcy Case Study – What Were The Warning Signs?
(DBN)

GT fined £650,000 over audit breaches
(DBN)

Begbies sees revenue growth of 21%
(DBN)

Insolvency firm Begbies Traynor's boss says retail carnage expected to continue
(DBN)

The dirtiest UK election ever? Here are some of the lowest moments of the campaign
(DBN)

Key Poll Predicts Majority of 28 for Boris Johnson in U.K. Election U.K. election: Key poll shows shrinking lead for Boris Johnson
(DBN)

Katie Price hoping to ‘bounce back with America move’ after bankruptcy drama
(DBN)

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Canada:

Household debt squeeze drives Canadian delinquencies higher
(DBN)

Cochrane Polar Bear Habitat latest northern Ontario tourist attraction to hit hard times
(DBN)

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Australia:

Bankruptcy fraud on AFSA agenda with more than $4 million of frauds identified
(DBN)

‘Shut down for Christmas’, insolvency expert warns
(DBN)

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MENA:

Afghan War Report Enrages Veterans and Gold Star Families: 'Even As More of Us Died, They Lied'
(DBN)

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South Africa:

Record blackouts shut South Africa mines as recession risk rises
(DBN)

South Africa Risks Becoming a ‘Forgotten Country,’ Top Banker Warns
(DBN)

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Mexico:

Former Head of Mexican Police Charged with Drug Trafficking
(DBN)

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China:

Jitters Over China’s Local Defaults Start to Spread Offshore
(DBN)

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Argentina:

Argentina Can’t Pay Its Debt Until Economy Grows, Fernandez Says
(DBN)

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India:

Indian Tycoon Mallya Faces Bankruptcy Over $1.5 Billion in Debt State-owned banks petition in London court demanding Mallya's bankruptcy
(DBN)

Jet Airways’ Creditors Agree to Delay Revamp Plan
(DBN)

Reality Check: Challenges notwithstanding, IBC promises positive changes in bankruptcy law of India
(DBN)

Centre wants promoters to hold unlimited bankruptcy liabilities in case of criminal action: Report
(DBN)

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New Zealand:

Legal update on insolvency law – December 2019
(DBN)

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Venezuela:

Venezuela refugee crisis to become the largest and most underfunded in modern history
(DBN)

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