September 4, 2019

The Daily Bankruptcy News

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Law:

After Over A Year, Allen & Overy and O’Melveny Call Off Merger • After Failed Merger Talks, What's Next for O'Melveny?
(DBN)

LeClairRyan Files for Bankruptcy, Owes $15M to UnitedLex Venture, Lender • LeClairRyan Files for Chapter 11 Bankruptcy  • LeClairRyan Bankruptcy Could Keep Creditors, Partners Busy for Years • LeClairRyan falls into bankruptcy; liquidation ongoing • LeClairRyan in Ch. 11 bankruptcy to wind down its affairs • Richmond-based LeClairRyan law firm files for bankruptcy • LeClairRyan’s last Boston lawyers flee to another firm
(DBN)

Dorian Forces Court, Law Firm Office Closures in U.S. 
(DBN)

Struggling Law Firms May Face Dissolution Risk in Recession
(DBN)

The List Of Biglaw Firms At Least Trying To Care About Diversity
(DBN)

Kirkland Hires New Director of Diversity & Inclusion
(DBN)

Why You Don’t Need A Law Firm Partner As Outside Counsel
(DBN)

8th Circuit rejects lawyer’s challenge to mandatory bar dues
(DBN)

A top federal prosecutor in Ohio just sent a harsh message to white supremacists
(DBN)

Greg Craig's Defense Closes With Swipe at Star Prosecution Witnesses
(DBN)

20 Themes That Define 40 Years of Legal Industry Change • What's Changed Most in the Legal Industry Since 1979? Legal Luminaries Weigh In
(DBN)

Walmart will ban shoppers from openly carrying guns in its stores and stop selling some ammunition in response to 2 deadly shootings • Walmart plans to dramatically step back from gun sales after ‘horrific’ shootings • Read the full memo from Walmart’s CEO about pulling back on gun sales, asking the government to act • Walmart is doing more to stop gun violence than Congress is • NRA Slams Walmart Over Ammo Ban
(DBN)

Kroger Joins Walmart: No Guns in Stores
(DBN)

After latest shooting, Trump pushes Facebook ads 'straight from the NRA playbook'
(DBN)

Evangelical Christians and Guns
(DBN)

A Mississippi Venue Apologized For Refusing An Interracial Wedding Due To Its “Christian Belief”
(DBN)

FactCheck: Florida’s red flag gun law has been used "about five times a day
(DBN)

Judge May Unseal New Trove of Epstein Docs
(DBN)

Trump Officially Raids Military Projects for Border Wall • More Than 120 Military Projects Put on Hold
(DBN)

Democrats want to look into Trump’s payouts to Stormy Daniels and Karen McDougal
(DBN)

Robbers demand Popeyes' chicken sandwiches at gunpoint in Houston
(DBN)

There's been a 62% spike in people getting prenups, and experts say it's being driven by millennials
(DBN)

Gunlike hand gesture is disorderly conduct, appeals court says
(DBN)

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Judges:

Courts in Florida, Georgia and the Carolinas announce closings for Hurricane Dorian • Courthouse Closures for Hurricane Dorian • BK SD FL West Palm Beach Closed • BK MD FL Jacksonville Closed • BK SD GA: Savannah and Brunswick Closed • BK SC: Charleston Closed
(DBN)

Do Judges Do Contract Interpretation Differently During Crisis Times?
(DBN)

Newly Released Documents Show Conservative Judges Are Violating Ethics Guidelines By Appearing At Federalist Society Events
(DBN)

‘I Am Alive’: Justice Ruth Bader Ginsburg Is Ready For Upcoming Supreme Court Term • Ginsburg: Work on court ‘saved me’ during cancer treatment
(DBN)

Jennifer Lopez Asks Justice Ruth Bader Ginsburg For Marriage Advice
(DBN)

Judge Gets Slapped Back Over Brett Kavanaugh Protest • Judge admonished for closing courtroom to protest Kavanaugh confirmation
(DBN)

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Wall Street:

Dow futures rebound more than 180 points
(DBN)

Stocks are soaring after UK Parliament votes against a 'no-deal' Brexit and Hong Kong drops its extradition bill
(DBN)

Stocks close sharply lower as trade tensions escalate
(DBN)

On days when President Trump tweets a lot, the stock market falls, investment bank finds
(DBN)

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Layoffs:

Norfolk Southern lays off approximately 100 workers
(DBN)

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Coal:

Botched bankruptcy leads to standoff in Kentucky coal country
(DBN)

Inside the Harlan County Coal Miner Protest
(DBN)

While ‘zombie’ mines idle, cleanup and workers suffer in limbo
(DBN)

Kentucky Law To Protect Miners’ Wages Expects Coal Companies To Self-Enforce
(DBN)

Uninsured Blackjewel coal miners left to turn to open health care market
(DBN)

Blackhawk Mining plan approved by bankruptcy court
(DBN)

Navajo Nation doubles down on coal. Will it work?
(DBN)

Expansion of Montana coal mine gets backing after sale of mines to NTEC
(DBN)

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Agribusiness:

Farmers Union: We've Lost All Our Markets
(DBN)

The frauding of America's farmers
(DBN)

Betting the Farm on the Drought
(DBN)

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Personal Finance:

My parents paid for my college and were happy to do it, but after talking to them I'm resolved not to do the same for my kids
(DBN)

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Cannabis:

Cannabis Litigation/Bankruptcy Options: Assignment for the Benefit of Creditors
(DBN)

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Resorts:

10 abandoned resorts and their stories
(DBN)

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Taxis:

California legislators are set to vote on a bill that could devastate Uber and Lyft's business model
(DBN)

Uber, Lyft Stocks Hit Record Low
(DBN)

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Nanotech:

Bankruptcy judge OKs NanoMech financing
(DBN)

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Food/Beverage:

Kona Grill sale falls through; NY company jumps in with $25M offer • The ONE Group Hospitality Signs Asset Purchase Agreement for Kona Grill
(DBN)

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Fraud:

August 2019 Ponzi Scheme Roundup
(DBN)

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Architecture:

Sacramento: Creditors file bankruptcy petition against closing Coact Designworks
(DBN)

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Corporate Governance:

Chancery Addresses Prerequisites for Prima Facie Duty of Loyalty Claim
(DBN)

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Biofuels:

Big Oil Pushes to Dump Ethanol Demands
(DBN)

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Travel:

The New Era of Flicka Flights
(DBN)

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Distressed Investing:

JPMorgan Expects $32.9 Billion Junk-Rated Debt Sales This Autumn
(DBN)

Hedge Funds Hire in Distressed Debt to Bet on European Defaults
(DBN)

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Economy:

US Treasury yields tick higher as investors await economic data
(DBN)

Annual GDP Growth Falling in Virtually All Large Economies
(DBN)

US factory activity unexpectedly slowed last month for the first time in 3 years — and Trump's trade war was the main culprit • Survey: U.S. manufacturing sector contracted for first time since 2016 • ISM Manufacturing index Decreased to 49.1 in August
(DBN)

Trump's trade war has led to a historically weak Chinese currency — and a new study shows that impact could spread globally • Trump was so angry after China’s trade retaliation that he wanted to double tariffs • Retailers resist price hikes but we can’t eat all China tariff costs, says housewares firm founder • How Trump Can Win the Trade War • Trade Wars Have No Winners • Trump Warns China Not to Drag Its Feet
(DBN)

Why US Companies Choose China
(DBN)

Nearly one in 4 American workers would take a pay cut in favor of more time off — and research says this could lead to better job performance
(DBN)

The wealthy are spending less money on luxury, and it might signal another recession. From penthouses to classic cars, here's what's just not selling in 2019.
(DBN)

California city tests buzzy campaign idea for income
(DBN)

America's Uneven Future of Work
(DBN)

How America Fails to Feed Its Aging
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Ditech, Reverse Mortgages, Consumer Concerns, and Section 363(o)
(DBN)

Weekly mortgage refinances fall further, despite lower interest rates
(DBN)

RAIT Financial Trust Files for Bankruptcy; Enters Stalking Horse Deal • New Chapter 11 Bankruptcy Filing - RAIT Funding LLC (f/k/a Taberna Funding LLC) • New Delaware Chapter 11 Filing – RAIT Funding, LLC • RAIT Enters Into a Stalking Horse Purchase Agreement to Sell Substantially All of Its Assets; Files Voluntary Chapter 11 Petitions to Facilitate Sale Process • Fortress Investment Bids To Snap Up The Pieces Of Bankrupt RAIT Financial
(DBN)

Nashville: Developer faces foreclosure on another chunk of Ovation
(DBN)

Older millennials are driving home prices higher again
(DBN)

Overseas Investors Unload U.S. Real Estate
(DBN)

Framing Lumber Prices Down 20% Year-over-year
(DBN)

House Prices up 3.6% Year-over-year in July
(DBN)

Construction Spending Increased Slightly in July, Down 2.7% YoY
(DBN)

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Municipalities:

Muni Lowdown
(DBN)

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Oil/Gas:

Houston energy co. files for Chapter 11 bankruptcy after creditors filed Chapter 7 petition • New Chapter 11 Filing - EPIC Companies LLC
(DBN)

Oil and gas bankruptcies are on the rise, here's what it means for different parts of the US
(DBN)

Wall Street Gears Up For Onslaught Of Oil & Gas Bankruptcies
(DBN)

Oil Plunges As Trade War Rages
(DBN)

Oil Production Growth In U.S. Grinds To A Halt
(DBN)

U.S. E&Ps, OFS Operators Finding Usual Playbooks Upended
(DBN)

UK facing EU outrage over ‘timebomb’ of North Sea oil rigs
(DBN)

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Climate:

Photos show the destruction Hurricane Dorian has caused in the Bahamas from a punishing storm surge, up to 30 inches of rain, and 185 mph winds • Satellite photos show early devastation of Hurricane Dorian, with much of the Bahamas underwater • Satellite Images Show Grand Bahama Island Before And After Dorian’s Wrath • Hurricane Dorian: Grand Bahama Island was flooded with 20 feet of water
(DBN)

Hurricane Dorian weakens to Category 2 as it heads toward Florida coast
(DBN)

After missing much of Florida, Hurricane Dorian is heading north with 105 mph winds, and could reach Georgia by tonight
(DBN)

Hurricane Dorian Is Not a Freak Storm
(DBN)

Pete Buttigieg unveils $1.1 trillion climate change plan
(DBN)

Trump: I Tell You Dorian Hits Alabama
(DBN)

____________

Banking:

Here is a list of the largest banks in the United States by assets
(DBN)

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Politics:

The rise and rise of Elizabeth Warren • "Thoughtful and progressive but realistic": Scarlett Johansson backs Elizabeth Warren • When Elizabeth Warren Agreed With Betsy DeVos
(DBN)

Why Trump is furiously attacking Fox News
(DBN)

Trump has angered the wrong people: Farmers
(DBN)

Donald Trump's Republican Party is not the party of Lincoln
(DBN)

This is what Trump "congratulated" Poland for
(DBN)

North Carolina court strikes down state legislature maps
(DBN)

Jim Mattis takes shots at US presidents in his new book, but not at Trump
(DBN)

Trump said he skipped a diplomatic trip to monitor Hurricane Dorian. Then he spent the weekend golfing • Trump attacks Sadiq Khan after the London mayor mocks him for missing WW2 memorial to deal 'with a hurricane out on the golf course'
(DBN)

"The details are irrelevant": Biden responds to war story misrepresentation
(DBN)

Inside Trump's controversial luxury golf resort in Ireland, where Pence spent US tax dollars and sparked outrage • Trump encouraged Pence to stay at his golf resort in Ireland
(DBN)

The Wild Corruption of Trump's Golf Courses
(DBN)

Pence: What's Wrong w/ Massive Corruption?
(DBN)

Conversion Therapy Founder: I'm Gay Too
(DBN)

____________

Pharma:

OxyContin maker prepares 'free-fall' bankruptcy as settlement talks stall
(DBN)

Drug Firms Must Face Trial Over Opioids, Judge Orders
(DBN)

Giant opiate producer Mallinckrodt could soon be completely worthless, analyst says • Mallinckrodt ‘in a really tough spot’ as opiate litigation advances: Analyst
(DBN)

Purdue could become a trust funded by sales of the same drug blamed for the opioid crisis • Report: Purdue Pharma prepares for bankruptcy if no opioids settlement
(DBN)

Bankrupt Insys to sell its opioid flagship drug
(DBN)

____________

Electricity:

Hydropower giant Bonneville Power is going broke
(DBN)

PG&E tells judge it’s improving tree trimming around power lines
(DBN)

Large Option Trader Makes Bearish Long-Term Bets Against PG&E
(DBN)

Hedge funds fight over wreckage of PG&E. How much will California wildfire victims get paid?
(DBN)

PG&E monthly rates may rise
(DBN)

Ohio's Great Chinese Power Conspiracy Theory
(DBN)

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IT:

Austin IT firm goes bankrupt
(DBN)

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Healthcare:

Bankruptcy judge to decide the future of Hahnemann Hospital’s residency slots
(DBN)

Last-ditch effort to reopen Hahnemann? California firm outlines a plan
(DBN)

Hospital lawsuits unearth "cracks in our system"
(DBN)

NY: No Vaccinations, No Public School
(DBN)

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Hotels:

Bal Harbour hotel owner proposes $7.5M settlement
(DBN)

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New Bankruptcy Opinions
(4 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 (0 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 Reform:

Bankruptcy Code Changes: Small Businesses Catch a Break • Family Farmer Relief Act
(DBN)

Bankruptcy Code Amended: Congress Makes Chapter 12 More Accessible to Family Farmers and Creates New Chapter 11 Subchapter for Small Business Debtors
(DBN)

Farmers Feel Some Relief From Debt Limit Increase
(DBN)

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D&O:

What to Watch in the World of D&O
(DBN)

Time to Face the Music – Cyber Risk is D&O Risk – And Things Are Getting Worse!
(DBN)

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Mediation:

Relativity: Defining “Success” for Multi-Party Mediation in Chapter 11
(DBN)

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Advisors:

Jay Alix Dismisses Claims Against McKinsey To Pursue In State Court
(DBN)

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Estoppel:

Plaintiff Acted in Bad Faith by Not Disclosing All FDCPA Claims to Bankruptcy Court, Says D.N.J.
(DBN)

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Aviation:

The Boeing 737 Max could be grounded through the holidays thanks to a series of new delays, and airlines are canceling thousands of flights because of it • Boeing shares slide as the latest 737 Max delay threatens holiday-season travel
(DBN)

American Air keeps canceling flights and its CEO is taking the heat
(DBN)

____________

Autos:

Reagor-Dykes names primary investor in re-organization plan • Reagor Dykes offers 2nd plan to emerge from bankruptcy
(DBN)

Auto union workers overwhelmingly vote to authorize strikes at GM, Ford, Fiat Chrysler
(DBN)

General Motors Abandonment Of The US Worker Now Makes Them A UAW Target
(DBN)

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Education:

Why College Became So Expensive
(DBN)

USC officials discussed how much wealthy parents could donate when their children applied, records show
(DBN)

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Religion:

Former U.S. Catholic cardinal downplays charges of sexual abuse against him
(DBN)

DC Archbishop Still Won't Confess
(DBN)

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Mass Torts:

Boy Scouts of America could face bankruptcy after wave of new lawsuits
(DBN)

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Retailing:

Ariana Grande sues Forever 21 for £8m over “lookalike” model
(DBN)

Forever 21's potential bankruptcy filing marks the overdue death of fast fashion
(DBN)

1 Key Sign That a J.C. Penney Comeback Is Still Possible
(DBN)

Is This The Sears Endgame? 77 More Stores Closing And HQ Being Sold, Insiders Say
(DBN)

In Sears Holdings bankruptcy, small creditors complain about lawyers' payments
(DBN)

The Forgotten Discount Retailer
(DBN)

Neiman Marcus CFO Steps Down After Less Than 18 Months
(DBN)

____________

UK:

Boris Johnson loses his majority after Conservative MP Phillip Lee dramatically crosses floor to join the Liberal Democrats • Boris Johnson defeated after MPs vote for plan to delay Brexit and stop a no-deal exit • Boris Johnson pushes Britain to brink of an election: Here’s what could happen next • Major Defeat for Boris Johnson as Lawmakers Seize Brexit Agenda • U.K. PM's party to expel Winston Churchill's grandson over Brexit vote • British Lawmakers Take Control • Boris' Do or Die Brexit is Unraveling
(DBN)

How Boris Johnson's push toward a no-deal Brexit is playing out in the EU
(DBN)

Brexit back-and-forth leaves the pound reeling
(DBN)

Sports Direct trying to ‘drive Debenhams out of business’
(DBN)

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Canada:

What Comes First: Deemed Trusts or Court-Ordered Super Priority Charges? ABCA Weighs In
(DBN)

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Argentina:

Argentine president leads economy to debt, inflation and mass poverty
(DBN)

Vulture funds circle Argentina, waiting for right time to buy
(DBN)

Argentina prepares next steps to tackle debt crisis
(DBN)

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MENA:

At a sprawling tent camp in Syria, ISIS women impose a brutal rule
(DBN)

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Australia:

Karen Millen announces closing down sale after administrators appointed
(DBN)

NAB facing potential $74 million lawsuit over collapse of Walton Construction
(DBN)

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Russia:

Russia's Sberbank says not to be future owner of Antipinsky refinery
(DBN)

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India:

Jet Airways crisis: RP Ashish Chhawchharia hoping for the best even as experts remain sceptical • Jet Airways revival: 2 suitors now in the race to acquire airline
(DBN)

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Hong Kong:

Hong Kong scraps incendiary extradition bill that sparked months of protests
(DBN)

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Brazil:

Brazil's Oi confirms talks with banks for extra funding
(DBN)

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China:

China's most indebted firm is too big to fail
(DBN)

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Mozambique:

Mozambique Wants Credit Suisse, Privinvest to Help Pay Its Bonds
(DBN)

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Venezuela:

Venezuela opposition retains U.S. law firm Sullivan & Cromwell in debt restructuring
(DBN)

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