May 8, 2019

The Daily Bankruptcy News

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Law:

Percentage of equity partners continues to shrink while BigLaw profits increase
(DBN)

Epstein Becker Green, Deloitte Form New ‘Strategic Alliance’
(DBN)

Sheppard Mullin Adds Prominent Bankruptcy Partner Lawrence Larose in New York
(DBN)

Foley Adds Bankruptcy Partner Paul Labov in New York
(DBN)

Bankruptcy lawyer Kassner re-elected to second term as chairman of Drinker Biddle
(DBN)

Texas AG sides with lawyers challenging mandatory bar membership
(DBN)

LVMH attorney alleges 'sham' harassment investigation
(DBN)

Is A Firm Really Biglaw If It Has Fewer Than 300 Attorneys?
(DBN)

Freshfields raises newly qualified solicitor pay to £100,000
(DBN)

New Associates Who Fail The Bar Are Increasingly Losing Their Jobs
(DBN)

2019 Law School Rankings By Employment Outcomes
(DBN)

Visualizing Legal Employment Outcomes In California, DC-Maryland-Virginia, Florida, Illinois, Ohio, New York, Pennsylvania, And Texas
(DBN)

Fishy Business? Commercial Fisherman Accuses Duane Morris and Former Partner of Malpractice, Fraud
(DBN)

Kirkland & Ellis Teaches Associates Evidence Through ‘Learning by Doing’
(DBN)

Law School Grad With Extremely High-Risk Pregnancy Passes Bar Exam, Gets Sworn In At Hospital Maternity Ward
(DBN)

Judge Throws Out Former In-House Lawyer's Age Bias Suit Against Accenture
(DBN)

What Do You Do When You Become The Statistic You Desperately Hoped To Avoid?
(DBN)

The White House is blocking Don McGahn from cooperating with Congress about the Mueller probe • White House tells Congress it’s not entitled to documents from former counsel McGahn • Don McGahn, Defying House Subpoena, Follows Trump's Orders • White House Escalates Fight With Congress Over McGahn Documents • 600+ Former Federal Prosecutors Can’t Be Wrong • 720 ex-prosecutors signed letter saying Trump would've been prosecuted if he weren't president • House Judiciary threatens to hold Don McGahn in contempt
(DBN)

What It Means to Hold Barr in Contempt of Congress • DOJ Tried to Get Congress to Back Off Barr • House Intel Committee threatens Justice Department with bipartisan subpoena • Barr to Trump: Invoke executive privilege over redacted Mueller materials • Team Trump is in contempt of Congress
(DBN)

Sorting Through the Trump Subpoena Maze • 'Every Day He’s Obstructing Justice.' Pelosi Issues Impeachment Warning as White House Escalates Fight
(DBN)

Russian Lawyer Involved in Trump Tower Meeting Charged
(DBN)

Cohen: I Helped Falwell with His Racy Photos
(DBN)

Avenatti Given 8 Days to Hire Defense in Bank Fraud Case • Does attorney Michael Avenatti need a public defender in Orange County case? • Michael Avenatti and the weirdest-ever lead counsel fight • Prosecutors: Avenatti Using ‘Delay Tactics’ to Keep Case Against Him from Moving Forward
(DBN)

Prosecutors: Bob Kraft's Lawyers Lied in Court • ‘Unfounded Potshots’: Robert Kraft’s Lawyers Fire Back at Prosecutors’ ‘Desperate’ Contempt Threat
(DBN)

IRS Legally Has to Turn Over Trump's Returns • The nightmare scenario for Democrats on Trump's taxes • Why You Can't See Trump's Tax Returns • NYT: Trump tax records revealed $1 billion in business losses • Ways and Means chairman suggests court is next step in Trump tax returns fight • The legal argument behind Mnuchin refusing to give Congress Trump's tax returns • Century-old feud between millionaires is now key to getting Trump's tax returns
(DBN)

Trump claimed over $1 billion in financial losses from 1985-'94: report
(DBN)

FBI chief says there is no evidence the agency spied on Trump campaign • FBI Director Wray's implicit admonitions of Trump and Barr
(DBN)

James Comey is in Trouble
(DBN)

McConnell and the Trump team's self-serving view of criminal procedure
(DBN)

Mexico is cracking down on migrants, so they're once again using 'the Beast' to get to the US • Report: Trump admin tells asylum officers to be tougher on immigrants • US asylum screeners to take more confrontational approach at southern border • Court OKs Stay in Mexico for Asylum Seekers
(DBN)

Man sentenced to four months in prison for trying to bribe ICE officer to deport his wife
(DBN)

Woman arrested at CIA headquarters after asking to speak with 'Agent P----'
(DBN)

Georgia governor signs 'heartbeat bill' restricting abortion access, setting the stage for a court battle over the law • Four Ways Georgia's Anti-Abortion Law Will Cause Legal Mayhem • With governor's signature, Georgia's 'heartbeat bill' becomes latest challenge to Roe v. Wade • Nondoctors can perform first-trimester abortions in Virginia, federal judge rules
(DBN)

Private satellite data increases marijuana citations in California county
(DBN)

Falsehoods In The Media Deserve Criticism, But Also First Amendment Protection
(DBN)

Holocaust Remembrance Day Event In Russellville Interrupted By White Supremacists Rally
(DBN)

Here’s A Thing You Probably Shouldn’t Do When Standing Trial
(DBN)

Biglaw P--- Attorney Is In Biglaw No More
(DBN)

Court TV pounds gavel again as all-trial channel reborn
(DBN)

Schools to serve cold food to students who owe lunch money
(DBN)

Man Crashes Lawn Mower Into Cop Car: 'I'm Drunk, Take Me To Jail'
(DBN)

A man faked his death. His ex-wife faked his funeral. Then their son found him alive.
(DBN)

Teacher sues after she says school made her censor MAGA T-shirt in yearbook
(DBN)

It began with a traffic violation and ended with a woman pulling a gator from her yoga pants
(DBN)

Kim Kardashian is funding a legal team that has freed 17 inmates • Kim Kardashian relates to law student struggles
(DBN)

8th Circuit upholds female topless ban; 10th Circuit ruled the other way
(DBN)

At least seven injured in school shooting in suburban Denver, 2 suspects in custody • Colorado Police: 7 People Injured in Shooting at K-12 Charter School • One student dead, eight injured in shooting at suburban Denver school, police say • School shooting in suburban Denver, Colorado: what we know
(DBN)

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Judges:

Cecelia Goetz: A Woman for the Ages
(DBN)

Hedge fund founder jailed after judge says he lunged at federal prosecutor during trial break
(DBN)

Woman who mailed poisoned baked goods to Supreme Court justices pleads guilty to escape
(DBN)

This Poll Should End All The ‘Court Packing’ Talk But Probably Won’t
(DBN)

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Wall Street:

US futures turn lower amid trade deal standoff
(DBN)

World Markets Tumble on US-China Trade Tiff
(DBN)

Stocks plunge as trade-war worries rattle investors • Dow drops 470 points on growing trade-war threat, biggest decline since early January • Dow drops more than 600 points at lows, extends tumble below 50-day moving average
(DBN)

Jeffrey Gundlach says stocks are in a bear market, sees better than 50% chance for new tariffs
(DBN)

Trade war fears are crushing stocks, and sell-off could keep going if there is no deal by Friday
(DBN)

The stock market is on pace for its worst month since December rout—as volatility returns with a vengeance
(DBN)

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Layoffs:

Nestle's U.S. unit will slice 4,000 jobs
(DBN)

More Than 100 CNN Workers Take Voluntary Buyouts
(DBN)

170+ Sacramento school district employees to be laid off
(DBN)

Little Rock School District to eliminate 75 jobs
(DBN)

Daytona Beach News-Journal to lay off up to 79
(DBN)

Shriners Hospitals for Children in Tampa to lay off 60
(DBN)

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Food/Beverage:

Saco food distributor files for bankruptcy
(DBN)

Sure Winner Foods files petition for Chapter 11 bankruptcy relief
(DBN)

CTI Foods completes financial restructuring and emerges from bankruptcy with new owners
(DBN)

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Politics:

Biden takes 32-point lead over Sanders in new 2020 poll • Biden goes light on policy, heavy on emotion • Jill Biden says it's time to 'move on' from her husband's treatment of Anita Hill during the 1991 Clarence Thomas confirmation hearings • How Joe Biden could win the battle but lose the war to Trump in 2020 • Ukrainian official knocks down Biden conflict scandal promoted by Rudy Giuliani • Union Plans Picket Of Joe Biden Fundraiser Hosted By Kaiser Board Member • Liberals attack Biden, seeking to blunt his momentum • Fact-checking Joe Biden, Hunter Biden, and Ukraine
(DBN)

Top Republicans think it’ll be easier to win in 2020 if ‘out-of-the-closet socialist’ Bernie Sanders is the Democratic nominee
(DBN)

Mnuchin speaks to top Trump donors a day after rejecting tax returns' release
(DBN)

Trump counties may be winning a bit more, but their prognosis remains dim
(DBN)

Trump campaign holds event for ‘bundlers,’ embracing conventional fundraising
(DBN)

‘It’s Fox News viewers vs. everyone else,’ new poll concludes • 57% of Democrats Believe President Trump Guilty of Treason
(DBN)

Elizabeth Warren shames Mitch McConnell by reading directly from Mueller report on the Senate floor • Poll: Elizabeth Warren’s handling of her DNA results hurts her favorability — but not her electoral chances
(DBN)

Trump Furious With Ally David Bossie Over His Reported Self-Dealing
(DBN)

Pump and Dump: Donald Trump Pretended to Be a Corporate Raider, Talking up Stock Prices Before Quietly Selling His Shares: Report
(DBN)

FactCheck: 60 million Americans live in a place where the water they drink is unsafe
(DBN)

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Football:

“I Thought This Was a Good Deal”: AAF Vendors Speak Out
(DBN)

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Economy:

There hasn't been this much risky corporate debt in years. The Fed is sounding the alarm about what that could mean for the economy.
(DBN)

Leveraged-Loan Pushback Is Too Little, Too Late
(DBN)

Fed’s Quarles says he could live with an inflation rate that is below the 2% target • Fed’s Quarles says leveraged loan buildup isn’t a replay of subprime crisis
(DBN)

Fed’s Clarida pushes back on Trump, Pence call for rate cuts because of low inflation
(DBN)

BLS: Job Openings Increased to 7.5 Million in March • US job openings jump to nearly 7.5 million in March
(DBN)

Jilted Fed nominee Moore says liberals are ‘stupid and evil’
(DBN)

Here are the US conglomerates that'll be hit hardest by Trump escalating the trade war with China • Report: Trump's steel tariffs are costing Americans $900,000 per job created • Are Tariffs Boosting the American Economy? • New tariff on Mexican fresh tomatoes to start, get ready for prices to skyrocket • Polaris CEO calls potential tariff increase ‘downright catastrophic’ for business • Farmers Are 'Losing Their Patience' With Donald Trump Over China Trade Deal, GOP Senator Says • The True Costs of the Trump Tariffs • 'Are these tariffs going to happen?' US retailers fearful as they try to plan for holidays • Trump puts deal-making credentials to test with China talks • China Backtracked on US Trade Commitments • Worst Case Scenario: Here’s what it looks like if Trump starts a trade war with China • Dow has worst day in 4 months amid China trade war escalation • Cramer: These are the two numbers that gave Trump confidence to hit China with new tariff threat • Larry Kudlow Told Jim Cramer About The China Trade Deal On Background, And Now We Know This From Watching CNBC • Goldman Sachs: These are the stocks we think are safe from a trade war • Trade war a cloud over Trump's 2020 prospects • Trump's tougher stance on China is tested amid escalating trade fight, stalled N. Korea talks • Ex-Obama advisor Larry Summers says any US-China deal will not be the ‘right one’
(DBN)

China Investments in US Collapsed in 2018
(DBN)

Older workers, aged 55 and over, represent the fastest growing labor group in the US
(DBN)

U.S. recorded a $161 billion surplus in April, CBO says • Deficit Grew 38% in Just 7 Months
(DBN)

A new study on universal basic income says it doesn't achieve its main purpose and is economically illiterate
(DBN)

Low-income moms in four U.S. cities are being paid $4,000 a year, with no strings attached
(DBN)

Las Vegas: Convention Attendance and Visitor Traffic up Slightly in Q1 2019
(DBN)

Dwindling population and disappearing jobs is the fate that awaits much of rural America • America's Rural Areas are Doomed to Decline
(DBN)

Chart: How pay level relates to worker productivity
(DBN)

Americans are confident about retirement. Are we kidding ourselves?
(DBN)

Ag. Dept. Economists Fled From Trump
(DBN)

Good Jobs for Teachers . . . If They Leave US
(DBN)

Biggest Hurdle to an Infrastructure Deal
(DBN)

Trump trying to define poverty out of existence
(DBN)

Fortune 100 Companies Received $399 Billion in Federal Funding Over 4 Years
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

CoreLogic: House Prices up 3.7% Year-over-year in March
(DBN)

Seattle Real Estate in April: Sales unchanged YoY, Inventory up 124% YoY from Low Levels
(DBN)

10 things real-estate agents wish they could tell you, but won't
(DBN)

1 out of 6 home buyers get down payment assistance from the seller. Here’s what that tells us.
(DBN)

Silicon Valley is coming for your house
(DBN)

The global aging trend is leading to millions of empty homes
(DBN)

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Municipalities:

Puerto Rico board gets more time to be confirmed by Senate
(DBN)

The City Has My Vehicle. What Now?
(DBN)

New obstacle for disaster aid bill as Trump administration pushes to add border funding • Florida residents want Trump to see post-hurricane suffering
(DBN)

President Trump's claim that Puerto Rico 'has been given' $91 billion
(DBN)

Spiotto: Court decision on special revenue bonds 'clearly wrong'
(DBN)

Frederico: 'The risk of contagion is real'
(DBN)

Cox: 'Don't lend money to people that can't pay you back'
(DBN)

Fabian: 'Market has difficulty discriminating based on credit'
(DBN)

Bergonzi: Puerto Rico 'exported very profound challenges to our market'
(DBN)

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Religion:

The US government just officially recognized the Satanic Temple as a religion
(DBN)

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Agribusiness:

Chapter 12 Bankruptcies Don’t Fully Reveal the Pain in Farm Country
(DBN)

American Farmers Aging, Not Being Replaced
(DBN)

Historic flooding hits the Midwest, costing farmers millions
(DBN)

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Corporate Reform:

Ruling in law firm’s case, 9th Circuit upholds structure of US consumer agency
(DBN)

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Student Debt:

Canceling student debt has a life-changing effect on borrowers — and raises their income by an average of $4,000
(DBN)

3 million senior citizens in the US are still paying off their student loans
(DBN)

Program to Relieve Student Debt Proves Unforgiving
(DBN)

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Retailing:

Fifth Avenue Losing Luster as Vacancies Climb, Rents Fall
(DBN)

Sears expands DieHard brand to lawn and garden tools after surviving bankruptcy
(DBN)

Trump Used the Same Tax Breaks as Amazon to Drastically Reduce His Own IRS Bill
(DBN)

Scandal-hit Steinhoff posts $4 billion operating loss for fiscal 2017
(DBN)

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Telecoms:

Bankruptcy court hearing to consider $20.1 million bonus retention plan for top Windstream execs
(DBN)

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Construction:

Insurers of Collapsed Florida Bridge Builder to Pay $42M to Victims
(DBN)

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Electricity:

Judge Orders PG&E Directors to Visit Town Destroyed by Wildfire • Judge Orders PG&E's Board to Tour Wildfire-Ravaged Paradise
(DBN)

In New Challenge for California’s Utilities, Rating Agency Warms to Community Aggregators
(DBN)

Coalition of unlikely allies calls on state to break up utilities, deregulate energy
(DBN)

Many electric utilities are struggling – will more go bankrupt
(DBN)

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Aviation:

Fliers plan to avoid Boeing 737 Max jets for a year or more, Barclays survey concludes
(DBN)

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Debt Collection:

Administration wants to change how often debt collectors can call, text or email • Trump Wants Collectors to be Able to Text • Trump administration's new debt-collection rule: Unlimited texting and emailing
(DBN)

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Marijuana:

Cannabis Industry Work Costing U.S. Veterans Their Retirement Pensions
(DBN)

Is the Time Ripe for Lending to Marijuana-Related Businesses?
(DBN)

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Coal:

As Westmoreland Bankruptcy Concludes, Signs of More Trouble for Coal Industry
(DBN)

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Tech:

Creditors object to nano tech firm financing
(DBN)

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Education:

Increasing Numbers of Colleges, Universities Are Failing to Make the Grade
(DBN)

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Religion:

Lawyers name more accused New Jersey predator priests
(DBN)

SNAP demands clergy files from Fresno Diocese
(DBN)

Protesters Want Names Added to List of Priest Accused in Diocese of Reno
(DBN)

Clergy abuse crisis isn’t over, lawyer says, citing recent settlements
(DBN)

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Mass Torts:

Johnson & Johnson says crucial expert for talc plaintiffs lied on stand
(DBN)

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Personal Finance:

What 'Good' Dads Get Away With: Why Do Progressive Men Still Refuse To Do Their Share Of Household Work?
(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:

Q2 opens with bankruptcy uptick
(DBN)

Total April Bankruptcy Filings Increase 2 Percent over Last Year, Commercial Chapter 11s Increase 11 Percent
(DBN)

April Total Bankruptcy Filings, 2009-19
(DBN)

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Bankruptcy Reform:

ABI Commission’s Final Report on Consumer Bankruptcy Issues, What Creditors Need to Know
(DBN)

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Tax:

Rethinking the Discharge of Late Filed Taxes in Consumer Bankruptcy
(DBN)

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Automatic Stay:

It’s Just Not Yours Anymore: Southern District of New York Holds That a Bank’s Post-Petition Administrative Freeze of a Debtor’s Bank Account Does Not Violate the Automatic Stay
(DBN)

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Advisors:

Battle of Restructuring Industry Titans: Jay Alix v. McKinsey & Co.
(DBN)

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Fiduciary Duty:

Fifth Circuit tosses bulk of $21M judgment for bankrupt DFW company
(DBN)

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D&O:

Real Estate Investment Policyholders Prevail in Delaware and New York D&O Coverage Disputes
(DBN)

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Substantial Contribution:

Morris James Wins Rare $1.6M Fee For Ch. 11 Aid
(DBN)

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Involuntary Bankruptcy:

Involuntary Bankruptcy: Limited Remedy and Strong Sanctions for Abuse
(DBN)

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Mediation:

Assertive Mediator Techniques Produce More Agreements and Greater Satisfaction–A Mediation Study
(DBN)

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Environmental:

Exide Succeeds Before Bankruptcy Court, Which Finds Non-Compensatory Environmental Penalties Dischargeable, Non-Priority
(DBN)

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Healthcare:

Despite bankruptcy, Astria says employees, patients won't be affected • Summary: New Chapter 11 Filing - Astria Health
(DBN)

Washington health system files for bankruptcy, cites issues with revenue cycle vendor
(DBN)

Hospital Chain Lifecare Opens Ch. 11 With $185M Debt • LifeCare long-term care hospitals file for bankruptcy
(DBN)

New York City cites 84 people for refusing to vaccinate amid measles outbreak
(DBN)

Most U.S. deaths from pregnancy complications are preventable
(DBN)

A 'Caravan' of Americans Is Crossing the Canadian Border to Get Affordable Medical Care
(DBN)

Fact Check: Is Insulin’s High Cost Keeping Diabetes Patients From Taking Their Medicine?
(DBN)

The worst thing that Attorney General William Barr did last week arguably had nothing to do with possible contempt of Congress or the Mueller report. It had to do with health care
(DBN)

Two Ways Medicare Could Save Billions
(DBN)

Our Antibiotics Are Becoming Useless
(DBN)

Why So Many Americans Can’t Afford Health Care
(DBN)

Chart of the Day: High Deductible Blues
(DBN)

Switch to Medicare for All Would Be ‘Complicated and Potentially Disruptive’: CBO
(DBN)

Chart of the Day: The Big Picture on Health Care Costs
(DBN)

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Taxis:

Lyft posts large loss in its first quarterly report as a public company
(DBN)

Uber drivers feel poor and powerless on eve of IPO • The Uber strike shows how drivers remain one of the company’s biggest liabilities
(DBN)

Uber loses an average of 58 cents per ride
(DBN)

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Pharma:

'Abusers Die': Emails Allegedly Show Ex-Purdue Pharma Chief Blaming Victims of Opioid Crisis • Purdue Pharma exec Richard Sackler blamed opioid victims, emails show
(DBN)

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Climate:

The Fed is preparing the American financial system to withstand climate change, Jerome Powell says
(DBN)

When parents see global warming as part of their children’s curriculum, they worry more about the future of the planet
(DBN)

Fox News Is Desperately Trying to Convince Us Climate Science Isn't Real • In Congress, a partisan gulf in focus on climate change
(DBN)

Pompeo Suggests Melting Arctic Has Upside
(DBN)

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Fraud:

Internal Controls Are Front Line of Defense Against Fraud
(DBN)

Awareness Increases as Incidents of Fraud Grow
(DBN)

When Ponzi Schemes Collapse, Service Providers May Be in the Cross-Hairs
(DBN)

Misconduct at Kraft Heinz puts spotlight on employee pressure to meet bonus targets
(DBN)

Father pleads guilty to fraud conspiracy in case involving Georgetown admissions • Georgetown Dad Admits He Paid $400,000 for Son’s Admission
(DBN)

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Guns:

Why the gun industry misses Obama
(DBN)

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Media:

'Deep fake' videos that can make anyone say anything worry U.S. intelligence agencies
(DBN)

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Travel:

Despite recent accidents, airlines have never been safer
(DBN)

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Autos:

Tesla May Never Become a Profitable Auto Maker, Analyst Says • Tesla's Retail Strategy is Seriously Flawed
(DBN)

Toyota Reports Drop in Quarterly Profits
(DBN)

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UK:

Riskiness of Corporate Debt Is Increasing, BOE's Cunliffe Says
(DBN)

Harry and Meghan’s new baby could face a tax nightmare
(DBN)

Luton coach boss banned for hiding fleet
(DBN)

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PIIGS:

Greece Lowers Surplus Targets in Test to Deal With Creditors
(DBN)

Italian firm CMC di Ravenna strives to keep creditors at bay
(DBN)

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India:

Bankruptcy blues for Reliance Communications
(DBN)

Jet Airways pilots’ union asks Indian court to direct lender to release funds • Jet Airways gets wooed by new entrepreneurs • With bidders shortlisted, what's next for India's Jet Airways?
(DBN)

The creditors of Anil Ambani’s cash-strapped Reliance Communications are finally making it undergo bankruptcy proceedings • Insolvency woes: RCom resolution professional asks for 13-month exclusion
(DBN)

Pre-packaged insolvency: Process should help achieve the overarching objectives of the IBC
(DBN)

The rise of India's new billionaires and the fall of the old
(DBN)

IBC is finding more takers, but the process is getting painfully slower
(DBN)

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Venezuela:

Venezuela to prosecute lawmakers who backed failed uprising
(DBN)

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Vietnam:

Banks race to offload expensive property as bad debt buyback looms
(DBN)

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China:

China defaults hit record in 2018; pace has tripled in 2019
(DBN)

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MENA:

Turnaround firm Alvarez & Marsal to boost Gulf presence amid downturn
(DBN)

US Officials: Administration is Inflating Iran Intel • The growing, dangerous US-Iran standoff, explained
(DBN)

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