April 15, 2020

The Daily Bankruptcy News

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3-Column Formating

 

Law:

Am Law 200 Firm Slashes Salaries, But Refuses To Conduct Layoffs
(DBN)

Am Law 100 Firm Reduces Pay For All, Even Partners
(DBN)

Am Law 200 Firm Cuts Salaries Firmwide, Defers First-Year Associate Start Dates
(DBN)

Am Law 100 Firm Cuts Associate Salaries And Expects Reduced Pay To Last Through The End Of The Year
(DBN)

Exactly How Bad Were The Last Round Of Layoffs?
(DBN)

Biglaw Firms To Decide On Fate Of Summer Associate Programs
(DBN)

Davis Polk, Gibson Dunn Delay Summer Associate Programs
(DBN)

'It's Just Been Unreal': Catching Up With Wilmer Hale's Jamie Gorelick on Coronavirus Crisis Management and Matzah Ball Soup
(DBN)

The Dreaded Stealth Layoff Rears Its Ugly Head
(DBN)

Sheppard Mullin Adds Bankruptcy Partner Justin Bernbrock In Chicago
(DBN)

Husch Blackwell Elects First Chairwoman
(DBN)

NCBE Trashes Diploma Privilege, Sprinkles In Some Racist And Sexist Conclusions
(DBN)

California Bar Trustees Advise July Exam Be Delayed, or Scrapped
(DBN)

How We’re Surviving as a Shut-In Workforce: ‘Know Where Your Mute Button Is’ and Be Patient
(DBN)

BigLaw firm withdraws request for legal fees after judge says it can’t shield its billing rates
(DBN)

'Take Heart. Be Strong': David Lat On How COVID-19 Has Changed His Life and the Legal Profession David Lat Recovers, Returns to an Industry Upended by Contagion
(DBN)

A Lawyer's Life in Lockdown: Paul Hastings Global M&A Partner Roger Barron
(DBN)

1 Family Has 5 Cases of Coronavirus: How a Connecticut Lawyer Is Coping
(DBN)

'He basically declared himself King Trump': Cuomo warns of 'constitutional crisis' if Trump doesn't back down on reopening economy Cuomo warns of constitutional crisis 'like you haven't seen in decades' if Trump tries to reopen New York Cuomo says he would refuse and challenge an order from Trump to reopen New York's economy if it put residents' health at risk No, Trump doesn't call the shots on reopening states, constitutional scholars say Trump claims he has 'total authority' to reopen economy Four Pinocchios for Trump’s claim that he has ‘total authority’ over the states
(DBN)

America Is Returning to 1781
(DBN)

Trump Wants Power, but Not Responsibility
(DBN)

Trump’s ‘Big Lie’ About State Legal Responsibilities During a Pandemic Should Be a Huge Scandal
(DBN)

A Religious Liberty Dispute In Kentucky Exposes Larger National Tensions
(DBN)

Pastors Sue California Governor for Coronavirus Restrictions 'criminalizing the Free Exercise of Religion'
(DBN)

Appeals court sides with feds on Jeffrey Epstein deal
(DBN)

Sen. Elizabeth Warren and Others Want Abortion Drug Restrictions Lifted During Pandemic SCOTUS won’t face abortion case after lower court eases Texas’ pandemic ban
(DBN)

Cartels, gangs and rebels join coronavirus fight
(DBN)

Coronavirus lockdowns and civil liberties collide in a remote corner of California
(DBN)

Woman fined for taking turtle for a walk
(DBN)

Liberty University Student Files Class Action Lawsuit, Claims School Is Profiting from Pandemic
(DBN)

Police Handcuff Black Doctor Who Tests Homeless for Coronavirus
(DBN)

Lawyer files complaint against county official accused of violating his own stay-at-home order
(DBN)

Cybercriminals are exploiting fears of the pandemic to steal personal information
(DBN)

Man Arrested Twice in One Day, Allegedly Violated Ban on Mask-Free Shopping
(DBN)

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Judges:

Bankruptcy Courts Gear Up, Dress Down With Filings Surge to Come
(DBN)

The controversy over a Trump judge’s oddly partisan “religious liberty” opinion, explained
(DBN)

Judge Reminds Attorneys To Wear Pants For Zoom Hearings Judge Reminds Lawyers to Wear Shirts During Zoom Hearings
(DBN)

Mobile or Landline? SCOTUS Advocates Prep for First-Ever Phone Arguments
(DBN)

Judge allows suit alleging another judge ordered drug testing of courtroom observers
(DBN)

Judge Pens Scathing Dissent Blasting Federal Court for Ruling Against Jeffrey Epstein’s Victims
(DBN)

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Wall Street:

Dow futures drop 400 points as earnings, worries about the economy weigh on markets
(DBN)

European stocks fall, weighing the coronavirus’ economic impact
(DBN)

U.S. stocks close higher as states weigh reopening economy, earnings season kicks off
(DBN)

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Layoffs:

Second Round of Virus Layoffs Begin
(DBN)

Coronavirus testing company Quest Diagnostics furloughs workers
(DBN)

Layoffs and Unemployment Basics During the Coronavirus Pandemic
(DBN)

The Hollywood Reporter, Billboard, Vibe lay off 30% of staff
(DBN)

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Religion:

Virginia pastor who defiantly held church service dies of coronavirus
(DBN)

Christians Were Fined $500 For Attending A “Drive In” Church — The Trump Administration Is Supporting Them In Court
(DBN)

____________

Retailing:

Could Macy's, Gap and Kohl's collapse?
(DBN)

Report: J.C. Penney explores filing for bankruptcy as option for “unsustainable” finances J.C. Penney Reportedly Seeks Survival Advice From AlixPartners JC Penney explores bankruptcy as hopes for recovery fade, sources say
(DBN)

Is Neiman's on the Verge of Bankruptcy?
(DBN)

Angry shoppers slam new rules preventing Walmart, Target, and Costco stores from selling 'nonessential' items such as toys and clothing in certain parts of the US
(DBN)

March retail sales will look horrible after the coronavirus pandemic forced consumers to stay home
(DBN)

Amazon fires three workers who criticized warehouse conditions
(DBN)

____________

Sports:

MLB will conduct the country’s largest coronavirus antibody test on employees
(DBN)

____________

Politics:

Barack Obama endorses Joe Biden for president Biden's primary triumph opens Democrats' map against Trump
(DBN)

Hello, What’s This? The Democrats Aren’t in Disarray
(DBN)

NYT Waited Weeks to Report Allegation Against Biden, Immediately Reported Against Kavanaugh
(DBN)

Economic meltdown gives Democrats new hope in Texas
(DBN)

Trump’s Key 2020 States Reel Under Twin Blows of Virus, Job Loss
(DBN)

Fox News Anchor: ‘Conservatives’ Heads Would've Exploded’ if Obama Claimed ‘Total’ Authority
(DBN)

Pelosi to America: Ignore All of the Lies
(DBN)

Collins Chides Trump Over Virus Performance
(DBN)

Trump’s latest coronavirus press briefing featured one of his most memorable meltdowns yet
(DBN)

Trump slams Dem ‘mutineers’ who challenged his shutdown authority and warns Mutiny On The Bounty is his favorite film
(DBN)

Trump’s Cabinet MIA As Coronavirus Pandemic Rages
(DBN)

Trump is odd man out as approval ratings soar for world leaders’ handling of the coronavirus pandemic
(DBN)

Louisiana presidential primary pushed back again, to July 11
(DBN)

Why SCOTUS Made Wisconsin Vote
(DBN)

____________

Mail:

Over 600,000 People Sign Petition Demanding Hazard Pay for USPS Workers
(DBN)

____________

Banking:

Bank of America posts 45% decline in first quarter profit, braces for big loan losses
(DBN)

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Nursing Homes:

42 Dead at Richmond Nursing Home
(DBN)

____________

Debt Collection:

Debt collectors are going after millions of stimulus checks — 5 ways to stop them
(DBN)

____________

Cruise Lines:

Carnival CEO: Despite ‘devastating’ coronavirus, 2021 cruise bookings are strong
(DBN)

____________

Autos:

Reagor Dykes and GM Financial proposed settlement offered in bankruptcy court
(DBN)

Is Ford for Sale?
(DBN)

____________

Fitness:

New York Sports Clubs Parent Mulls Bankruptcy Filing
(DBN)

____________

Economy:

Small Business Optimism Decreased Sharply in March
(DBN)

Mnuchin’s Partnership With Powell Blurs Lines Between Fed and Treasury
(DBN)

What is a Recession? What is a Depression?
(DBN)

A Bank of America survey found 93% of global fund managers expect a 2020 recession
(DBN)

Goldman: 4 Times Worse Than 2008 Meltdown Goldman: Advanced Economies to Fall 35%
(DBN)

El-Erian warns global economy risks ‘stumbling into depression’
(DBN)

The IMF's coronavirus depression projection is a show of optimism
(DBN)

IMF Urges Post-Pandemic Stimulus to Avoid Depression-Era Mistake
(DBN)

Wall Street Turns a Blind Eye to Catastrophic U.S. Economic Data
(DBN)

Fed Bails Out Big Biz and Wall Street Banks
(DBN)

US Manufacturing is About to Crash
(DBN)

College students' future jobs take a big hit
(DBN)

Treasury yields fall as economic impact of the coronavirus pandemic comes into focus
(DBN)

Global Economy Will Shrink by 3 Percent in 2020, IMF Forecasts IMF says the world will ‘very likely’ experience worst recession since the 1930s Global recession forecast as countries mull lifting virus lockdowns
(DBN)

Investors should prepare for a coronavirus-induced ‘vicious spiral’ more than twice as bad as the financial crisis, says J.P. Morgan
(DBN)

Trump set to preside over record spending, deficits as coronavirus costs explode
(DBN)

'It won't be May': JPMorgan CEO Jamie Dimon doesn't expect the economy to reopen until at least June Trump says some state economies may open for business by May 1 Paul Krugman: 'Crazy' to reopen economy in the next few weeks Jamie Dimon says US companies might send employees back to work by ‘June, July, August’ Fauci: Goal of reopening U.S. by May 1 is "a bit overly optimistic" America Not Prepared to Reopen Trump rages at criticism while governors craft their own plans to reopen the economy New York Governor Cuomo Says He'd Defy Trump Ordering Him to Reopen State Newsom Sets Reopening Benchmarks With States Acting in Concert White House still has no road map for restarting the economy Abbott Hints at Plan to Reopen Texas Trump, Cuomo clash as NY governor threatens to defy potential order to reopen economy States Unite On Reopening Economies: 'Science — Not Politics — Will Guide' Decisions Gov. Gavin Newsom names six goals that must be met to lift California coronavirus order Texas Gov. Abbott says he plans to announce 'safe and healthy strategies' to reopen state economy Here’s how Gov. Abbott can safely reopen the Texas economy Trump’s grand reopening council triggers a slew of new questions As Michigan coronavirus cases slow, Gov. Whitmer eyes reopening economy Ten U.S. states developing 'reopening' plans account for 38% of U.S. economy Federal, state leaders plan to reopen the economy: Here's how it might look Ohio governor: We can't just 'turn a switch' to reopen the economy Scott Gottlieb on how, and when, to end social distancing The False Debate on Reopening the Economy Yes, lockdowns bring economic disaster, but that is no reason to rush out of them Post-Virus Reopening Is More About Ethics than Science
(DBN)

Florida Surgeon General Removed from Governor Desantis' Coronavirus Briefing After Saying Social Distancing Necessary until There's a Vaccine Florida Surgeon General: Coronavirus Could Force Residents To Continue Social Distancing For A Year
(DBN)

Driving, Traveling Restrictions Across the US
(DBN)

Speculation grows about Fauci's future
(DBN)

Social Distancing Until 2022?
(DBN)

The 4 plans to end social distancing, explained
(DBN)

Why Did the World Shut Down for Coronavirus
(DBN)

Corporate leaders see coronavirus recovery moving further away
(DBN)

Several powerful conservative advocacy groups are uniting to push Trump to reopen the economy despite health warnings
(DBN)

U.S. States That Have No Issued Coronavirus Stay at Home Orders
(DBN)

Coronavirus stay-at-home orders stir protests nationwide amid fears of economic collapse
(DBN)

Trump’s name will appear on coronavirus relief checks
(DBN)

Texas, Calif. Get Biggest Chunks of Bailout Cash
(DBN)

The US public debt load will hit be bigger than the entire $21 trillion economy by October, watchdog warns
(DBN)

Bill Gates believes travel for work will never be the same after coronavirus: 'There are a few things, like business trips, that I doubt will ever go back'
(DBN)

World Economy Working From Home Gets a Glimpse of the Virtual Future
(DBN)

Fisher Island, the richest ZIP code in America with an average income of $2.2 million, has obtained coronavirus antibody tests for all 800 families and staff who live there because it's 'what residents wanted.'
(DBN)

This is the end of the office as we know it
(DBN)

9 questions about how to get the coronavirus stimulus funds, answered How small businesses can get money from the stimulus package Small-business funds dwindle as virus aid package sputters Questions still loom over Paycheck Protection Program
(DBN)

Stimulus Oversight Panel Has One Person Trying to Watch $2.2 Trillion Alone
(DBN)

7 ways small businesses can avoid bankruptcy amid the coronavirus outbreak
(DBN)

Dash for cash as most investors expect drawn-out recovery - BofA survey
(DBN)

'It's a complete abomination': Hedge funds are applying for government bailouts to weather the coronavirus crisis
(DBN)

Wall St. Feasts on Virus Aid as Main St. Starves
(DBN)

Jeff Bezos Gains $24 Billion While World’s Rich Reap Bailout Rewards
(DBN)

IMF says 'Great Lockdown' global recession will be worst economic meltdown since Great Depression
(DBN)

The Top Ten Job Streaks
(DBN)

Average age for heterosexual marriage hits 35 for women and 38 for men
(DBN)

Global oil pact and Fed support boost junk-rated US bond market
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

MBA Survey: Total Number of Mortgage Loans in Forbearance Jumped from 2.73% to 3.74%
(DBN)

MBA: Mortgage Applications Increased, Purchase Applications down 35% YoY
(DBN)

Weekly mortgage applications rise as rates drop to survey low, but it’s all refinances
(DBN)

The Sharp Decline in Housing Activity
(DBN)

____________

Municipalities:

More than 2,100 U.S. cities brace for budget shortfalls because of coronavirus, with many planning cuts and layoffs
(DBN)

Coronavirus Threatens the Future of a Small Town in New Hampshire
(DBN)

America’s Empty Roads: Fewer Deaths But a Blow to State Budgets
(DBN)

____________

Oil/Gas:

Why the stars aligned for Trump on oil diplomacy
(DBN)

Coronavirus crisis will erase nearly a decade of oil demand growth this year, IEA says
(DBN)

US Oil Drilling Grinds to a Halt
(DBN)

Oil glut may overwhelm global storage tanks within weeks: IEA
(DBN)

?Oil slumps below US$20 as IEA sees storage filling despite cuts
(DBN)

Don’t Count the Fracking Industry Out Just Yet
(DBN)

Why Chesapeake Energy Stock Is Sinking Again Today Chesapeake Energy: Survival Mode
(DBN)

Oil prices may now be at a bottom after historic OPEC deal, US energy secretary says
(DBN)

Deepwater Horizon Still Poisons Gulf
(DBN)

____________

Healthcare:

Democrats have a new plan to keep millions of laid-off workers insured
(DBN)

Economist Joseph Stiglitz says coronavirus is ‘exposing’ health inequality in US
(DBN)

Coronavirus keeps patients away from US hospitals as ER visits drop: ‘Heart attacks don’t stop’
(DBN)

Hospitals to share ventilators while production scales up
(DBN)

Trump Downplayed Threat for Months
(DBN)

2 of the world's biggest drugmakers just teamed up on a coronavirus vaccine
(DBN)

New York City secures its own supply of 100,000 coronavirus tests per week
(DBN)

Coronavirus Deaths Hit Single Day Record
(DBN)

NYC Death Toll Over 10,000 US is Hitting Virus Peak
(DBN)

COVID-19 case tally: 1.99 million cases, 127,590 deaths
(DBN)

Half of Covid-19 Deaths are in Nursing Homes
(DBN)

New Research Shows How Coronavirus Spreads Through Population
(DBN)

N.Y. Got $12,000 Per Virus Case, by One Count. Nebraska Got $379,000.
(DBN)

‘Contagion’ medical advisors saw a pandemic coming, but got one big thing wrong
(DBN)

Coronavirus Spreads from Dead Body in First Reported Case of Its Kind
(DBN)

U.S. coronavirus death toll tops 25,000, doubling in one week
(DBN)

Coronavirus symptoms might get better before they get worse, and the downturn can happen very quickly, doctors say
(DBN)

Foot sores could be an early sign of coronavirus, experts say
(DBN)

Coronavirus deaths lower in countries using tuberculosis vaccine, study finds
(DBN)

'Unknown' Whether Coronavirus Patients Can Become Reinfected, World Health Organization Doctor Says Doctor fears new coronavirus strain emerging after ‘survivors test positive again’
(DBN)

A growing chorus of experts are deeply skeptical we'll have a coronavirus vaccine within 18 months. Here's why a shot may take years, if we can succeed in making one at all.
(DBN)

Everything we know about the coronavirus, from who's most at risk to where new cases are spreading
(DBN)

Rita Wilson Shares How She and Tom Hanks Contracted Coronavirus, "Extreme" Chloroquine Side Effects
(DBN)

Herd immunity is the only way the coronavirus pandemic will end — and it would require a vaccine. Here's how it works.
(DBN)

Elon Musk’s ventilator fiasco shows need for more oversight of Gavin Newsom’s mask deal
(DBN)

US officials were reportedly concerned that safety breaches at a Wuhan lab studying coronavirus in bats could cause a pandemic
(DBN)

Aides prepare options for Trump to shun WHO over coronavirus Lawmakers demand answers from WHO Gates, UN, World Leader Condemn Trump for Ending WHO Funding
(DBN)

The US Navy is fighting a coronavirus outbreak on the hospital ship USNS Mercy
(DBN)

____________

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 (108 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (11 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)

______________

Bankruptcy Statistics:

These 9 retailers and restaurant chains have filed for bankruptcy or liquidation in 2020
(DBN)

BK MN: Updated Filing Statistics
(DBN)

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Sales:

A Road Map for Potential Buyers of Distressed Businesses in Section 363 Bankruptcy
(DBN)

____________

Aviation:

Delta, United, and more are scrambling to raise cash, but airlines still have a huge untapped resource that could keep them afloat
(DBN)

Major Airlines Grab for $25 Billion in Cash
(DBN)

US airlines stocks surge after Treasury Department reaches deal to provide billions in aid
(DBN)

Airlines say deal on bailout includes provisions for government ownership
(DBN)

Airlines, U.S. Treasury reach tentative accord to tap billions in aid
(DBN)

____________

Telecoms:

Frontier Communications files for bankruptcy protection Frontier, Bondholders Agree to Bankruptcy Plan Frontier Communications to Prepare Bankruptcy Ahead of April 15 Payment First Day Dec
(DBN)

Investor pressure might force SoftBank to sell OneWeb
(DBN)

____________

Electricity:

Longview Power files bankruptcy, blames COVID-19 Longview Power Hits Ch. 11 Seeking $355M Debt-Equity Swap
(DBN)

Bankruptcy judge pushes back on PG&E's plan to route $4M fine through fire victim trust
(DBN)

Bankruptcy judge approves PG&E plan to use victims’ fund to pay $19 million in fees
(DBN)

____________

Satellites:

Global Service Provider Intelsat Seeks Bankruptcy Loan Intelsat Seeks Bankruptcy Loan While Awaiting Key Spectrum Sale
(DBN)

____________

Agribusiness:

More Wisconsin farmers filing for bankruptcy
(DBN)

Trump Admin to Spend $15.5 Billion on Aid for Farmers: Report
(DBN)

____________

Movie Theaters:

U.S. movie theater operators aim for a late-summer blockbuster season
(DBN)

Can AMC Theaters Afford to File for Bankruptcy During the Coronavirus Pandemic?
(DBN)

China’s Wanda Dismisses AMC Theaters Bankruptcy ‘Rumors’ Dalian Wanda says reports about AMC’s imminent bankruptcy are ‘pure rumors’ as stock, bond prices signal distress amid pandemic
(DBN)

The Coronavirus May Kill Movie Theaters – A Perfect Time For Studios To Buy Them
(DBN)

____________

Tech:

Even Google and Facebook May Face an Ad Slump
(DBN)

Boomers to Zoomers: Older generations learn to love video chat
(DBN)

Compulsory selfies and contact-tracing: Authorities everywhere are using smartphones to track the coronavirus, and it's part of a massive increase in global surveillance
(DBN)

____________

Food/Beverage:

The US may be facing a meat shortage in grocery stores, but you can still buy meat directly from small farmers and restaurant suppliers
(DBN)

Workers are dying of COVID-19 as they beg for protections. But lawyers say the coronavirus makes it almost impossible to hold bosses legally responsible.
(DBN)

Seed companies can't keep up as more Americans turn to growing their own food
(DBN)

____________

Maritime:

Liner bankruptcy potential spreads in step with the coronavirus
(DBN)

Hornbeck Offshore Services to File for Chapter 11 Bankruptcy in Pre-Packaged Restructuring Agreement
(DBN)

____________

Awards:

J. David Rosenberg Law Student Recognized by American College of Bankruptcy
(DBN)

____________

Newspapers:

McClatchy Laying Off Executives
(DBN)

____________

Aerospace:

Space Startups Are About To Go Through A Great Winnowing
(DBN)

____________

Toll Roads:

Toll Roads Falter During Pandemic
(DBN)

____________

Gambling:

How the sports-betting industry is responding to the coronavirus pandemic that has halted most major sporting events
(DBN)

____________

History:

Your Guide to the Great Depression
(DBN)

____________

Sovereigns:

Coronavirus could cause more countries to default on their debt, economist says
(DBN)

Global creditors agree on debt relief for poor countries hit by pandemic
(DBN)

____________

EU:

EU States are Easing Lockdowns
(DBN)

EU Calls for Coordinated Exit Plan
(DBN)

____________

PIIGS:

Italy Could Be Free of New COVID-19 Cases by May 16, Experts Predict
(DBN)

ie: Economic threat posed by Covid-19 puts insolvency system back in the spotlight
(DBN)

Greece: Hotels on brink of bankruptcy
(DBN)

____________

India:

India's Coronavirus Lockdown Extended Until May As Over 10,000 Are Infected
(DBN)

____________

Africa:

'Starve or get sick': Africa's lockdown dilemma
(DBN)

____________

Sweden:

Swedish Virus Deaths Top 1,000, Fueling Criticism Over Strategy
(DBN)

____________

Russia:

After Putin's bravado, COVID-19 is starting to hit Russia hard
(DBN)

____________

China:

Coronavirus runs roughshod over debt-laden belt and road projects
(DBN)

Chinese officials lost 6 key days in issuing public coronavirus warning
(DBN)

____________

MENA:

Virus brings out the jackals in deserted Tel Aviv park
(DBN)

IMF warns ‘vulnerabilities high’ in the Middle East hit with dual shock of coronavirus and oil plunge
(DBN)

____________

France:

How President Emmanuel Macron bungled France’s coronavirus response
(DBN)

____________

Turkey:

Coronavirus cases in Turkey are growing at one of the fastest rates in the world
(DBN)

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