March 13, 2019

The Daily Bankruptcy News

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Law:

Big Law Dealmaker Charged in the National College Admissions Scandal •Co-Chair Of Biglaw Firm Charged In College Admissions Scandal • BigLaw co-chair charged in college cheating scandal; wiretapped calls are evidence • Willkie Farr Co-Chair Charged in College Bribery Scheme • Big-Time Attorney Implicated in Alleged College Entrance Scam That Spanned the Nation
(DBN)

Baker McKenzie Adopts Black Box System for Equity Partner Pay
(DBN)

Biglaw Firm Fires Partner After Investigation Into His Conduct
(DBN)

Not content with retirement, Jeff Carr continues the fight against billable hours
(DBN)

Leading Global Credit Risk Management Lawyer Giorgio Bovenzi Joins Haynes and Boone’s New York Office
(DBN)

Let’s Talk About These Rankings
(DBN)

A Look At The Trend Of Moving Up The U.S. News Rankings
(DBN)

What Would Law School Look Like In A World Without The U.S. News Rankings?
(DBN)

ElevatorGate Spawns Some Quality Trolling
(DBN)

The Pentagon is looking for a military base that can hold 5,000 migrant children
(DBN)

House Democrats roll out legislation to provide permanent protections for millions of ‘Dreamers’
(DBN)

Suit challenges mandatory membership in state bar because of immigrant support, diversity initiatives
(DBN)

Stormy Daniels replaces Michael Avenatti with new lawyer days after Trump lawsuit tossed • Stormy and Michael Break Up • Stormy Daniels splits from attorney, calls Michael Cohen ‘dumber than herpes’ • Stormy: New Litigation is Coming
(DBN)

New York AG to Probe Trump's Businesses • Stone’s Attorneys Respond to Judge: Sorry We Gave You the Wrong Idea About the Book • Trump’s ex-campaign chief Paul Manafort faces second sentencing in Mueller probe • Waiting in Vain for the Mueller Report • Mueller Report Has Washington Spinning (and It’s Not Even Filed)
(DBN)

Deutsche Bank Can Finally Stop Worrying About Whether It’s Gonna Get Subpoenaed For That Trump Stuff
(DBN)

Disbarred attorney Joseph Scali invokes Michael Cohen defense
(DBN)

‘Epic mishap’ doesn’t justify dismissal of charges against ‘Real Housewives’ star’s son, judge rules
(DBN)

Black Jurors Exclusion in Death Row Case Gets High Court Airing
(DBN)

Judge Orders DOJ to Reveal Identity of U.S. Attorney Who Had Affair with Prosecutor
(DBN)

Former GOP Senator Accused of Lying to Cops to Put His Wife in a Psych Ward
(DBN)

The Supreme Court Resuscitates the Eighth Amendment
(DBN)

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Judges:

First Circuit Judicial Council Announces New B.A.P. Chief Judge
(DBN)

Texas Federal Judge, After Rebuke, Slams 5th Circuit for 'Inaccurate' Statements
(DBN)

Judicial Conference Approves Package of Workplace Conduct Reforms • Harassment Policies Adopted for Federal Judiciary
(DBN)

New O'Connor Book Chronicles Her Dementia Onset, Frustration With Alito
(DBN)

U.S. Courts report immigration cases soar, district court filings rise, bankruptcy filings down 2%, with fewer cases in 60 of 90 courts • AO Publishes 2018 Annual Report and Court Statistics
(DBN)

Judge’s demeaning email epithets weren’t protected by First Amendment, says top state court
(DBN)

Planking party planned on Supreme Court steps to honor Ginsburg’s 86th birthday
(DBN)

Trump Proposes Adding New Immigration Judges in Budget Plan
(DBN)

Trump Judicial Strategy Nets One-Fifth of Appeals Court Seats
(DBN)

Confirmation of Lowenstein's Paul Matey Flips 3rd Circuit to Republicans
(DBN)

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Wall Street:

Stock market poised for tepid rise, but Dow remains under pressure amid Boeing 737 8 woes
(DBN)

Stocks close mostly higher as health care, utilities rise; Boeing weighs on the Dow
(DBN)

Jeffrey Gundlach says the stock market was and still is in a bear market
(DBN)

The last time the Dow underperformed the S&P 500 by this great a margin was 2009
(DBN)

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Layoffs:

Rite-Aid says CEO to step down, cuts about 400 corporate jobs
(DBN)

VW to Fire Up to 7,000
(DBN)

CBS staffers in a panic over call for $100M in cuts
(DBN)

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Politics:

Kellyanne's husband: US risks becoming a 'banana republic' under Trump
(DBN)

Why Joe Biden Hates Elizabeth Warren
(DBN)

Joe Biden’s poll lead: does it actually mean anything? • The Myth of Joe Biden’s Working-Class Support
(DBN)

Nancy Pelosi boots Mike Pence from his office on the House side of the Capitol
(DBN)

Trump's cash for troops plan has some logic, and big risks
(DBN)

Senate will vote Thursday on bill to block Trump’s national emergency declaration • If Congress votes to block Trump’s emergency, it could be used against him in court
(DBN)

Senate to Rebuke Trump Over Saudi Arabia
(DBN)

The past 48 hours in Tucker Carlson drama, explained • Tucker Carlson and the Court of Public Opinion
(DBN)

The Beto Odyssey
(DBN)

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Taxis:

Uber agrees to pay $20M settlement to drivers over contractor status
(DBN)

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Healthcare:

Tennessee hospital files for bankruptcy
(DBN)

This Boise psychiatric hospital has emerged from bankruptcy with a new owner
(DBN)

These are the U.S. cities where people live longest, depending on their income
(DBN)

How To End The Scourge Of Surprise Medical Bills In The Emergency Room
(DBN)

UnitedHealthcare shifting all drug rebates to patients
(DBN)

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Climate:

Unusually strong storm to grow into raging blizzard across U.S. Plains • Central US About to be Hit by Bomb Cyclone
(DBN)

Vanishing Safety Window on Global Warming
(DBN)

Shell Tells Trump to Tighten Methane Rules
(DBN)

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Fashion:

LK Bennett creditors 'left in the dark'
(DBN)

Fading denim brand Diesel USA files for Chapter 11
(DBN)

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Media:

Two Years At F+W Media: Behind The Scenes At A Company In Chaos
(DBN)

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Debt Collection:

Supreme Court Grants Certiorari in Case That Could Increase FDCPA Litigation
(DBN)

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Student Debt:

As Feds ignore student debt crisis, states like Md. step in
(DBN)

6 Bold Student Loan Reforms To Watch For In 2019
(DBN)

Members of Congress are rich with student debt
(DBN)

Trump Proposes To End Student Loan Forgiveness Program
(DBN)

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Infrastructure:

Looks Like Toll Roads Across Connecticut
(DBN)

Trump Infrastructure Plan is Back
(DBN)

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Crypto:

Verdict due in MtGox bitcoin embezzlement case
(DBN)

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Economy:

Key Measures Show Inflation about the same in February as in January on a YoY basis • BLS: CPI increase 0.2% in February, Core CPI increased 0.1%
(DBN)

The Fed's Failures Are Mounting
(DBN)

Worried about next downturn? U.S. credit funds may offer early clues
(DBN)

Global debt is up 50% over the past decade, but S&P still says next crisis won’t be as bad
(DBN)

Trump Seems to Have Boosted Manufacturing
(DBN)

Summers Was Right on Global Growth
(DBN)

Here’s why the Fed and global regulators are ringing the alarm over leveraged loans and CLOs
(DBN)

This kind of indexing could help fix Social Security’s finances
(DBN)

Small Business Optimism Index increased slightly in February
(DBN)

What President Trump’s proposed budget cuts could mean for senior citizens • Trump’s budget request slashes retirement benefits for 2 million federal workers • Trump said he wouldn’t cut Medicaid, Social Security, and Medicare. His 2020 budget cuts all 3 • Trump’s budget proposes hiking application fees for legal immigrants • Trump Budget: Winners and Losers
(DBN)

Immigrants help the economy — even 100 years later
(DBN)

Brill: America’s gradual decline over the last half-century
(DBN)

Goldman Sachs: There's a big misconception surrounding the impact of Trump's tax cuts
(DBN)

Labor Dept. Wants New Overtime Rule
(DBN)

Outcome of China Trade Talks is Uncertain
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Weekly mortgage applications hit a record, but not a healthy one for housing • MBA: Mortgage Applications Increased in Latest Weekly Survey
(DBN)

Goldman: "The Housing Rebound"
(DBN)

Court allows secured creditor to retain mortgage lien after mistaken release and reinstatement prior to bankruptcy
(DBN)

Former Pere Marquette developers sue Peoria city, mayor
(DBN)

Foreclosure rate falls to near 20-year low
(DBN)

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Municipalities:

DeBlasio Responds to FOX Report That New York City May Go Bankrupt
(DBN)

The 50 happiest cities in America, ranked • Happiest and Unhappiest Cities in America
(DBN)

CA: State Supreme Court ducks key pension issue
(DBN)

The Tragedy of Baltimore - Since Freddie Gray’s death in 2015, violent crime has spiked to levels unseen for a quarter century
(DBN)

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Oil/Gas:

Haynes and Boone Releases Spring 2019 Borrowing Base Redeterminations Survey • Haynes And Boone Energy Roundup
(DBN)

Future of shale: Early goings or seventh inning?
(DBN)

BP CEO: The world is not on a sustainable path
(DBN)

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Fraud:

Key Concepts Concerning Bankruptcy Fraud: the Wagoner Rule and the In Pari Delicto Defense
(DBN)

Hollywood actresses and the wealthy are accused of paying to get their kids into elite colleges by cheating on exams and faking athletic skills. Here's how investigators say the scheme worked • The FBI’s college admissions fraud case against Felicity Huffman and many more, explained • Felicity Huffman Accused of Paying $15K to Doctor Her Older Daughter's SAT Scores • 'I Would Make an Example': Legal Experts Weigh in on Prison Time Lori Loughlin and Felicity Huffman Could Face • Feds: Charitable foundation was used for 500k in illegal payoffs • The Most Absurd Details from the Admissions Scandal • These Are the Craziest Allegations Against Parents Implicated in Historic College Cheating Scam • The cost of bribing your way into Yale: $1.2 million • ‘Home Run of Home Runs': How to Bribe Your Kid Into College • Rich Play "Who Wants to be an Ivy Leaguer?" • Here’s Why Lori Loughlin Probably Won’t Go to Jail for the College Bribery Scandal • The College Admissions Scandal is Absurd • The real college admissions scandal is what’s legal • Getting into Elite Colleges is Already Rigged • Most families don’t pay bribes to get their kids into college — but many wealthy parents know other ways • The FBI busted rich parents for allegedly bribing their kids into elite schools. Here's the not-so-secret way the super-rich game college admissions • Why Rich Parents Are So Set on Their Kids Going to Top Colleges • Kids Are the Victims of the Elite-College Obsession • A slew of CEOs charged in alleged college entrance cheating scam • Here's the full list of people charged in the college-admissions cheating scandal • The Worst Crime In College Admissions History Exemplifies The Worst Parenting • 8 colleges were named in the massive college admissions scandal. Here's how they're responding • Fashion designer Mossimo Giannulli — whose self-titled brand once ran at Target — is accused of shelling out $500,000 to get his daughters into USC • CEOs, investors, and entrepreneurs are among those named in the college admissions cheating scandal — here are the 22 business leaders who've been charged by the FBI • Least Self-Aware Tweet in History • College Admission Scam? What About Jared? • Former Pimco CEO Douglas Hodge charged in major college cheating scheme
(DBN)

What jumped out from new Theranos documentary "The Inventor"
(DBN)

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Electricity:

Don't let PG&E's perfectly good bankruptcy go to waste
(DBN)

Courts reject FERC’s bid for jurisdiction in PG&E bankruptcy
(DBN)

PG&E spared criminal charges in deadly 2017 California wildfires
(DBN)

PG&E’s next CEO could be leader of Tennessee Valley Authority
(DBN)

PG&E Update: California Utility May Face More Wildfire Challenges Ahead
(DBN)

San Francisco looks to go green with PG&E takeover • San Francisco’s Version of a Green New Deal Is Taking Over Its Power Company
(DBN)

PG&E Pushes Back Deadline for Shareholders to Nominate Board Candidates
(DBN)

After PG&E bankruptcy, Potter Valley Project's future uncertain
(DBN)

FirstEnergy Solutions would emerge from bankruptcy owned by its creditors
(DBN)

Edison CEO talks wildfires, climate change and the utility's vanishing monopoly
(DBN)

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Retailing:

Weil Books Another $7M as Deloitte Joins Sears Bankruptcy Billers
(DBN)

U.S. Retail Sales Increase Slightly in January
(DBN)

Problems Begin to Mount for Edward Lampert’s New Sears • Eddie Lampert’s hedge fund took $57.5M from Sears: court docs
(DBN)

Cash crunch led Z Gallerie to bankruptcy court
(DBN)

From Payless to Charlotte Russe: These Shoe Sellers Have Gone Bankrupt in 2019 — Here’s Why
(DBN)

Flooring retailer plots new location in vacant big-box spaces
(DBN)

Former Sears Complex Returns as a Beacon in a Chicago Neighborhood
(DBN)

From Blue Light to bankrupt: Kmart's decline 'one of the saddest retail stories'
(DBN)

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Food/Beverage:

Another Mike Isabella restaurant files for bankruptcy
(DBN)

CTI Foods Receives Court Approval of “First Day” Motions to Support Normal Business Operations
(DBN)

The Bitter Family Feud Behind the Palm Restaurant's Bankruptcy • NYC Steakhouse the Palm’s Parent Company Files for Bankruptcy Following Bitter Lawsuit
(DBN)

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Defaults:

U.S. Leveraged Loan Default Rate Dips To 7-Year Low
(DBN)

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Education:

House Panel Takes Up Oversight of For-Profit Schools
(DBN)

Students offered help after Seattle Art Institute bankruptcy
(DBN)

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Religion:

Priest accused of abuse found shot to death
(DBN)

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Mass Torts:

Claire’s issues voluntary recall of three makeup products
(DBN)

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Coal:

Harnessing the sun in coal country
(DBN)

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Bankruptcy Crimes:

Failed Bridgeport bank customer charged with fraud, forcing way into office with the help of his armed attorney
(DBN)

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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
(DBN)

Recent Ch. 11 Filings (12 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (33 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:

February Commercial Chapter 11 Filings Increase 60 Percent from Previous Year, Total Business Filings Up 10 Percent
(DBN)

February 2019 Bankruptcy Statistics- State and District • February 2019 Bankruptcy Statistics- Commercial Filings
(DBN)

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Avoidance Actions:

In re: Titus – Fraudulent Conveyance Law Defeats Exemption Rights
(DBN)

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Corporate Governance:

Serving on the Board of Your Portfolio Company: Be Careful What You Share in Emails and Texts Among You and Your Firm’s Other Designated Board Members
(DBN)

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Bankruptcy Strategy:

Bankruptcy’s Uneasy Shift to a Contract Paradigm
(DBN)

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Litigation:

A Tweet Is Now Apparently an Acceptable Way to Notify Someone of a Lawsuit
(DBN)

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Sales:

Sales Free and Clear: The Devil Is in the Details
(DBN)

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Mediation:

A Formula Governing the Settlement of Business Disputes
(DBN)

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Aviation:

Boeing is going to update the control software on the 737 Max that may cause the plane to nosedive
(DBN)

'You basically put a student pilot in there': The copilot of crashed Ethiopian Airlines Flight 302 had just 200 hours of flight experience • Pilots complained about issues with the Boeing 737 Max for months before the deadly Ethiopian Airlines crash
(DBN)

Ethiopia sends Boeing black boxes abroad, Norway airline wants compensation
(DBN)

Boeing Crisis Hives $26 Billion From Market Value as MAX 8 Groundings Accelerate
(DBN)

Europe has now banned Boeing’s 737 Max— should U.S. passengers be concerned? • New Zealand joins list of nations grounding Boeing 737 Max 8 • U.S., Canada remain key holdouts in suspending Boeing 737 MAX jet • FAA under ever-mounting pressure to ground Boeing 737 Max 8s • U.S. Transportation Sectary Elaine Chao just took a Boeing 737 Max 8 from Texas to Washington amid worldwide groundings
(DBN)

Man Who Grounded Dreamliner Says FAA Should Ground 737, Too
(DBN)

Trump: 'Airplanes too complex to fly' • Air travel has grown safer, data shows, contradicting Trump • 2 charts refuting Trump’s claim that “airplanes are becoming far too complex to fly”
(DBN)

Flight-attendants unions on Boeing 737 Max concerns: ‘You will not be forced to fly it’
(DBN)

The Boeing 737 Max 8 crashes and controversy, explained
(DBN)

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Pharma:

Synergy Pharma Gets OK For Ch. 11 Plan Releases
(DBN)

Purdue Pharma CEO says bankruptcy is ‘an option’ as company faces opioid lawsuits
(DBN)

What happens to 2,000 lawsuits against OxyContin-maker Purdue Pharma if the company files for bankruptcy
(DBN)

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Autos:

Tesla is Completely Out of Control • Leaked email reveals that Elon Musk has to personally approve all new Tesla hires
(DBN)

Car Companies Close Stores As The “Amazon Effect” Takes Hold
(DBN)

Nissan and Renault break up chairmanship after Ghosn’s ouster • Nissan and Renault to form a new governing board after Ghosn ouster
(DBN)

Honda recalls 1.1 million vehicles for defective airbags
(DBN)

10 Cities with the Most Aggressive Drivers
(DBN)

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Banking:

Ex-Watchdog: More Bank Bailouts Will Come
(DBN)

Wells Fargo CEO Blasted in Congress
(DBN)

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Auto Racing:

Bankruptcy filing could halt auction of Chandler Speedway
(DBN)

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UK:

Theresa May's Brexit deal rejected in landslide defeat • What happens now Theresa May's Brexit deal has been rejected again? • Everything you need to know about Brexit • Brexit Disaster Could Destroy the UK • British pound hit by volatility as May’s key Brexit gets rejected a second time • Brexit is a shambles and here's all the damage that's already been done • British Politics Enters the Meltdown Phase • ‘A waste of two years’ — bankers and fund managers react to crushing defeat of May’s Brexit deal • Brexiteers Never Wanted Brexit to Begin With • Explained: How Parliament will vote this week to seize control of Brexit
(DBN)

UK to Slash Tariffs to Zero with No Deal Brexit
(DBN)

Money woes hit Kier and Interserve
(DBN)

Insolvency Service Enforcement Outcomes: 2018/19
(DBN)

Patisserie Valerie and fraud prevention
(DBN)

Carillion's collapse helps send more contracts Balfour Beatty's way
(DBN)

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PIIGS:

Syros shipyards resurrected from near bankruptcy
(DBN)

Greece: Creditors want home protection criteria shift
(DBN)

EU creditors delay Greece’s post-bailout tranche as deliverables remain
(DBN)

Greek Creditors Talk Up Reform Drive But Withhold Fresh Cash
(DBN)

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Canada:

B.C. left holding massive bill for hundreds of orphan gas wells as frack companies go belly-up
(DBN)

British American Tobacco’s Canadian subsidiary granted creditor protection • Imperial Tobacco Canada gets creditor protection • BAT Canada gets court protection from creditors after losing smoking case
(DBN)

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Venezuela:

Venezuela's Maduro regime says it's investigating Guaidó over blackouts • Venezuela’s historic blackout, in 17 photos
(DBN)

In The Great Blackout, Caracas Steakhouses Are Busier Than Ever
(DBN)

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South Africa:

SABC heading to insolvency
(DBN)

Group Five Collapse Signals South African Construction Demise • Group Five in business rescue after lenders pull plug
(DBN)

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India:

Debt-ridden man poisons minor children, hangs himself
(DBN)

RCom in danger of landing back in insolvency
(DBN)

Kingfisher cancels some flights on employee stir over delayed salaries"
(DBN)

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Mexico:

Mexico's Geo says declared bankrupt by court
(DBN)

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Belgium:

Belgium’s Eurostar Diamond Traders Reportedly Faces Bankruptcy
(DBN)

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