August 28, 2020

The Daily Bankruptcy News

View prior editions: Click Here
View prior case summaries: Click Here
Search prior headlines: Click Here
Search prior case summaries: Click Here

Format For Mobile Device



Law:

Biglaw Firm Unexpectedly Offers Bonuses That Were Deferred Under COVID Cuts
(DBN)

Reed Smith Cuts 19 Lawyers and Staff in London
(DBN)

Law students flock to bankruptcy classes for fall 2020
(DBN)

Biglaw Firm Announces 50 Percent Remote Work Policy For Associates
(DBN)

Norris McLaughlin Adds Bankruptcy Lawyer In NJ
(DBN)

'It Will Never Be the Same': Why Greenberg Traurig's Co-President Wants to Get Back to the Office
(DBN)

6 key numbers that can diagnose the financial health of your law practice
(DBN)

Gender Pay Gap Persists In Public Company General Counsel Ranks
(DBN)

In a Moment of Change, Savvy Firms Are Finding Ways to Innovate
(DBN)

Young Lawyers Should Use COVID-19’s Biglaw Disruption To Their Advantage
(DBN)

An Attorney-At-Law Home
(DBN)

Kellyanne Conway Plays the Mommy Card
(DBN)

Fly-Fishing and All-Night Layovers: How McGuireWoods Got Face-to-Face With Summer Associates Despite Covid
(DBN)

Battered By ‘Unsurvivable’ Storm, Louisiana Plans To Go Right Ahead With Monday Bar Exam
(DBN)

Florida Bar Exam Kicks ILG To The Curb
(DBN)

There’s No Better Time To Future-Proof Your Firm Than Now
(DBN)

Somber protests in Kenosha after night of chaos, shootings • Kenosha peaceful on fourth night of protests as armed militias stay away after deadly shooting • 17-year-old arrested after 2 killed during unrest in Kenosha
(DBN)

Fox News anchor Chris Wallace slams colleagues for appearing to rationalize 17-year-old Kenosha shooter: 'There is no justification' • The Conservative Defense of Kyle Rittenhouse Is Dangerous Nonsense
(DBN)

'Far from isolated incident': Kenosha's Black residents speak out on police violence
(DBN)

Kenosha: We've All Had Enough
(DBN)

Why police encouraged a teenager with a gun to patrol Kenosha’s streets • Prosecutors announce homicide charges against Kyle Rittenhouse, the 17-year-old accused of shooting and killing 2 people at a Kenosha protest • Teen arrested in Kenosha shooting promoted 'Blue Lives Matter,' posed with firearms online
(DBN)

Kenosha Exposes Ugly Truth of Inequality in America’s Heartland
(DBN)

Jacob Blake, Who Is Paralyzed from Waist Down, Is Handcuffed to His Hospital Bed: Father
(DBN)

Video shows activists in Kenosha arrested by officers who jumped out of unmarked vehicle
(DBN)

The March on Washington 2020, explained
(DBN)

Supremacists, Militia Join Police Departments
(DBN)

Michael Cohen, Trump's former attorney, says he helped the Falwells block the release of racy photos
(DBN)

Gun-toting lawyer couple owe nearly $25,000 in unpaid property taxes
(DBN)

Judge Reveals Process for Releasing More Secret Jeffrey Epstein Files. This Is Going to Take a While…
(DBN)

Trump claims crime is up in US cities. The truth is more complicated.
(DBN)

Trump wants law and order for others, not himself
(DBN)

Book publisher paraphrases Bullwinkle in response to Michael Avenatti’s defamation assertion
(DBN)

Lawsuit claims process server frightened family and failed to wear mask or social distance
(DBN)

San Quentin prison turns to volunteer doctors to help recover from coronavirus
(DBN)

Secret Service Shot Man Over His Comb
(DBN)

ABC’s ‘The Last Defense,’ Monday morning quarterbacks and the practice of law
(DBN)

______________

Judges:

State chief justice confirms ethics inquiry after affidavit alleges racial comment
(DBN)

Third Circuit Says Judge Can Be Sued for Alleged Sexual Harassment
(DBN)

Thanks, Justice Gorsuch. No, Really!
(DBN)

Things I Don’t Understand … And Probably Never Will
(DBN)

Tents, Smoke Machine: Judges Get Creative on Jury Trial Restart
(DBN)

Hot-Mic Video Shows Trump Boasting About Threatening BBB, Complaining About ‘Spanish’ Judge He Later Called a ‘Mexican’
(DBN)

______________

Wall Street:

Dow futures jump 150 points with average set to erase 2020 losses at the open
(DBN)

S&P 500 closes at record high after Fed signals stimulus
(DBN)

U.S. Stock Market Looks Overvalued to Corporate Finance Chiefs
(DBN)

S&P 500 heads for best August since 1986 as stunning summer rally continues
(DBN)

Warren Buffett's favorite market indicator soars to record high, signaling stocks are overvalued and a crash may be coming
(DBN)

Options bets that the stock market will continue to soar have exploded to dot-com bubble levels
(DBN)

New Zealand exchange halts trading for 4th straight day after multiple cyberattacks
(DBN)

______________

Layoffs:

Salesforce to cut 1,000 jobs
(DBN)

Pret A Manger Cut 2,800 Jobs In Virus-Linked Restructuring
(DBN)

______________

Sports:

Inside the hectic hours around a historic NBA boycott
(DBN)

Racial injustice brought the sports world to a halt. Here's where the historic fight is headed next.
(DBN)

NBA players are the most powerful employees in America — and they know it
(DBN)

Black players call on NHL to postpone playoff games • As other leagues paused to protest, one NHL player lamented, 'We're always last to the party'
(DBN)

NFL teams cancel practice in response to Blake shooting • NFL players concerned, 'sick and tired' of racial injustice
(DBN)

Source: NBA players decide to resume playoffs • NBA players agree to resume season in Disney bubble
(DBN)

Sports come to a halt: NBA, WNBA, MLB, MLS postpone games as players protest Jacob Blake shooting
(DBN)

The reality of Black pain is breaking American sports' status quo
(DBN)

Pence chief of staff on NBA boycott: "If they want to protest, I don't think we care"
(DBN)

Kushner: NBA players are "very fortunate" to be "able to take a night off from work" • Mike Pence chief calls NBA protests 'absurd,' while Jared Kushner says he'll reach out to LeBron James
(DBN)

Trump Calls NBA ‘Political Organization’ After Playoff Protest
(DBN)

The walls are closing in on Daniel Snyder, and his tone-deaf response made things worse
(DBN)

UCLA Sues Under Armour And Says Force Majeure Doesn’t Excuse $200 Million Obligation
(DBN)

Hall of Famer Dermontti Dawson Lost Over $70 Million and Filed for Bankruptcy
(DBN)

____________

Climate:

Hurricane Laura’s flooding and other impacts on the ground: What we know
(DBN)

Why coronavirus makes Hurricane Laura relief much more complicated
(DBN)

Images of Laura's Destruction
(DBN)

____________

Mass Torts:

Roundup’s $11 Billion Accord at Risk of Collapse, Judge Says
(DBN)

____________

Food/Beverage:

Restaurants Can’t Find Workers Even Amid Historic Unemployment
(DBN)

The rise and fall of Chuck E. Cheese
(DBN)

Portland’s Blue Star Donuts Files for Bankruptcy Protection
(DBN)

____________

Fraud:

Ponzi Scheme Discovery Boom May Follow in the Wake of Worldwide Economic Contraction: Case Law Update and Key Takeaways for Defending Aiding and Abetting Claims (scroll down)
(DBN)

____________

Event Facilities:

Las Vegas Visitor Authority: No Convention Attendance, Visitor Traffic Down 61% YoY in July
(DBN)

____________


Economy:

Weekly Initial Unemployment Claims decrease to 1,006,000 • Comments on Weekly Unemployment Claims • Unemployment claims remain at 1 million, as the labor market continues to feel the pain of the coronavirus • U.S. jobless claims resume decline but report comes with caveats
(DBN)

Q2 GDP Revised up to -31.7% Annual Rate
(DBN)

Trump Wants Firms to Foot Payroll Tax Cut
(DBN)

A ‘double dip’ in the U.S. economy is ‘still possible,’ says former Fed official • The US economy needs more stimulus to slash the risk of a 'double dip' recession, former Fed official says
(DBN)

Virus Threatens to Set Back Poor Nations by 10 Years, IMF Says
(DBN)

Ultra-Wealthy Club Stockpiles Cash as U.S. Economy Fears Grow
(DBN)

CFOs now have a more positive economic outlook for China than the U.S.: Survey
(DBN)

Fed lays out historic shift to inflation strategy • Fed changes its approach to inflation, as leaders aim to reach full employment and navigate future crises • Fed Chair Jerome Powell: Monetary Policy Framework Review • Fed Can’t Talk the U.S. Economy Into Inflation • Powell's Fed shifts to more relaxed approach to fight inflation
(DBN)

Fed Strategy: Cheaper Loans for a Long Time
(DBN)

90% of Employers Positive on Remote Work
(DBN)

Did CARES Act benefits reach vulnerable Americans? Evidence from a national survey
(DBN)

Congress left town and let jobless benefits lapse, and unemployed Americans say they won't forget it
(DBN)

White House’s Meadows to Hold Stimulus Talks With Pelosi
(DBN)

Only 4 states are paying out Trump's $300 unemployment benefit so far. Most Americans have to wait several more weeks to receive the aid.
(DBN)

Iowa closes bars, nightclubs in 6 counties due to coronavirus spikes among young people
(DBN)

Working From Home Saved American Commuters Nearly $91 Billion
(DBN)

Protesters set up a guillotine outside Jeff Bezos' mansion and demanded higher wages for Amazon workers after the CEO's net worth surpassed $200 billion
(DBN)

No, Trump Did Not Shrink Government
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

Mortgage rates drop once again, remaining below 3% • Mortgage rates fall once again — but rising home prices mean that buyers shouldn’t expect savings
(DBN)

NAR: Pending Home Sales Increase 5.9% in July • U.S. pending home sales top forecasts, at highest since 2005
(DBN)

25% of U.S. malls are expected to shut within 5 years. Giving them a new life won’t be easy
(DBN)

Millions of Americans risk being evicted. This tenants rights lawyer says the courts aren’t prepared.
(DBN)

Sharing the risk: Retailers and their landlords face a post-pandemic dilemma
(DBN)

Fannie-Freddie Foreclosure Suspension Extended to End of Year
(DBN)

Study: More big-city renters and homeowners considering smaller markets in wake of pandemic
(DBN)

The rise of work-from-home towns
(DBN)

NYC Landlord Stepping Up Back-to-Office Campaign With Banks
(DBN)

Capital One’s Louisiana Tower Badly Damaged by Hurricane Laura
(DBN)

Blackstone gets back into rental houses with Tricon deal
(DBN)

____________

Municipalities:

Cities are facing the age of constant crises
(DBN)

Muni-Bond Buyers Side With Seinfeld: NYC Isn’t ‘Dead Forever’ • Affluence Killed New York, Not the Pandemic
(DBN)

____________

Oil/Gas:

SAExploration Enters into Restructuring Support Agreement for Comprehensive Balance Sheet Improvement, Files Ch. 11 IN BK SD TX • First Day Dec
(DBN)

____________

Politics:

Pelosi: "I don't think that there should be any debates"
(DBN)

Trump says Biden’s ‘not a savior of America’s soul,’ but rather the ‘destroyer of America’s jobs’
(DBN)

Biden to troll Trump with 2-minute ad set to run during renomination speech
(DBN)

What a ‘Biden-Warren’ policy agenda could look like
(DBN)

New Study Suggests Polls Are Missing Shy Trump Voters
(DBN)

What COVID-19 precautions should you take at the polling station? How many people will vote by mail? Answers to your 2020 election questions
(DBN)

Lindsey Graham: "QAnon is b------ crazy"
(DBN)

Pence Delivers the Smallest Audience of GOP’s Convention So Far
(DBN)

Highlights from all four nights of the RNC: Leaders tout Trump’s fighting spirit
(DBN)

Against a majestic backdrop, Trump gives a standard rally speech • Fox News’ Chris Wallace Pans Trump Speech as ‘Surprisingly Flat’ With ‘Lack of Fireworks’: ‘It Was Far Too Long’ • FactCheck: Trump's Acceptance Speech • The key moments from Trump’s Republican National Convention speech • The biggest moments from the RNC, from apocalyptic speeches to widespread claims Trump misused the White House and his presidential power • Republican Convention: Best and Worst Moments From Trump’s Big Night • RNC designed to sanitize Trump's record • RNC White House Speech was Illegal • Trump’s RNC speech was a mess. But the optics of it were powerful. • The 3 charts that disprove Donald Trump’s convention speech
(DBN)

Trump used the RNC to gaslight America on Covid-19
(DBN)

About 1,500 people packed outside White House for Trump • Crowded party on South Lawn mostly devoid of virus precautions
(DBN)

Michael Cohen blasts the 'real Donald Trump' in new Democratic attack ad
(DBN)

A battle is brewing for the soul of the Republican Party
(DBN)

Unprecedented Wave of GOP Defections
(DBN)

Chamber of Commerce Backing Democrats
(DBN)

Trump was supposed to change the GOP. But the GOP changed him.
(DBN)

Brutal campaign shaping up over pandemic, race and the economy
(DBN)

2 George W. Bush Cabinet secretaries endorse Biden
(DBN)

What Did We Learn From the Postal Service Fiasco?
(DBN)

Michigan Judge Dismisses GOP Candidates’ Lawsuit Challenging the State’s Mail-in Voting Process
(DBN)

Judge grants Trump motion to block absentee ballot requests in Iowa county
(DBN)

Farewell to Kellyanne Conway, the ultimate Woman for Trump
(DBN)

Ivanka Trump shared a video of her meeting a homeless D.C. woman. That woman says she's still waiting for her to keep a promise.
(DBN)

Biden Says Trump ‘Rooting’ for More Violence to Help Re-Election
(DBN)

McConnell slams Democrats over treatment of middle America: ‘
(DBN)

Trump to Slam Biden’s Record on Crime, Immigration, China
(DBN)

Kenosha’s Upheaval Jolts Swing-State Politics for Trump and Biden
(DBN)

Melania Trump's friend secretly taped her disparaging Ivanka, the president
(DBN)

____________

Hotels:

Hotels: Occupancy Rate Declined 30.3% Year-over-year, "Fell to a three-week low"
(DBN)

____________

Banking:

Citi’s $900m blunder was culmination of months of drama
(DBN)

____________

Retailing:

Neiman Marcus Asks Judge to Stop Marble Ridge From Disbanding
(DBN)

Neiman Marcus Seeks $55 Million From Nemesis Marble Ridge
(DBN)

Neiman Marcus judge calls hedge fund's strategy ‘stupid’ as litigation intensifies
(DBN)

Wayfair On S&P Global’s Short List Of Potential Retail Defaulters
(DBN)

A 194-Year Era Ends As Lord & Taylor Begins Closing Sales At All Remaining Locations • Bankrupt Lord & Taylor Is Officially Closing up Shop After 194-Year Run
(DBN)

If you have a gift card for JCPenney, Lord & Taylor, or another bankrupt retailer, experts say you should use it right away
(DBN)

Abercrombie & Fitch chief takes comfort in casual clothing demand
(DBN)

Kings Food Markets files Chapter 11 with $75M sale pending
(DBN)

Portland bookstore Powell’s will stop selling on Amazon: ‘We must take a stand’
(DBN)

COVID-19-related consumer needs are turning Best Buy into an essential retailer, analysts say
(DBN)

The Biggest Retailers Will Get Bigger as the Landscape Shifts
(DBN)

____________

Hotels:

How the hotel industry is reinventing itself in the pandemic to meet the new demands of guests
(DBN)

What could save the hotel industry amid the pandemic — a hub for work and play
(DBN)

____________

 
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 (19 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (230 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:

Jacksonville: Bankruptcy expert says bankruptcies likely to increase
(DBN)

______________

Cross-Border:

Matalan: (Some) Additional Clarity on the Impact of English Schemes and Chapter 15 on CDS
(DBN)

____________

D&O:

Navigating D&O Bankruptcy & Insolvency Exclusions
(DBN)

____________

Sales:

CFIUS, Bankruptcy, Foreclosures, and Debt Restructuring - Foreign Investment Reviews of Distressed Assets
(DBN)

____________

Bankruptcy Policy:

Bail-ins and Bail-outs Are Better than Bankruptcy: A Comparative Assessment of Public Policy Responses to COVID-19 Distress
(DBN)

____________

Small Business:

Individuals Can Restructure Personal Guaranties of Defunct Business’s Debt in New Bankruptcy Subchapter V
(DBN)

____________

Aviation:

Self-driving pods and outdoor terminals could change U.S. airports
(DBN)

In Boeing Max breakthrough, Europe heads to Canada for key test
(DBN)

Norwegian Air warns bailout will not be enough • Norwegian Air Seeks More Funds as Insolvency Threat Looms
(DBN)

Finnair in first bond sale by European airline since pandemic began
(DBN)

Gatwick Airport Asks for Relief on $4.5 Billion Debt • Gatwick passenger numbers collapse by 14.7 million
(DBN)

After an unprecedented hard landing, the airline industry is facing a long path to a new takeoff
(DBN)

____________

Movie Theaters:

People Won’t Go to the Movies Just Because They Can
(DBN)

____________

Cruise Lines:

Rocky Point Cruise Operator Declares Bankruptcy
(DBN)

____________

Autos:

Hertz seeks up to $1.5 billion in bankruptcy loan
(DBN)

____________

Utilities:

California utilities could face long-term impact from fires and blackouts
(DBN)

____________

Healthcare:

The CDC's revised coronavirus testing guidance could foreshadow a new debacle • New CDC Covid Testing Guidelines Have It Backward • CDC director clarifies change in coronavirus testing guidelines after backlash
(DBN)

Coronavirus update: Global case tally tops 24 million, U.S. tally above 5.8 million and experts say testing and tracing is crucial
(DBN)

Six feet may not be enough to protect against coronavirus, experts warn
(DBN)

We don't need to reach herd immunity to begin to get the virus under control
(DBN)

Sisters who lived through Spanish flu pandemic in 1918 survive coronavirus infections
(DBN)

Wealthy nations applaud their leaders' covid-19 responses. The U.S. and U.K. are the exceptions.
(DBN)

Abbott’s $5 Rapid Covid Test Takes $22 Billion Bite Out of Peers • Abbott Labs gave the recovery plays a ‘huge boost,’ Jim Cramer says
(DBN)

Rapid $1 Covid-19 tests exist. Why can’t we get them?
(DBN)

WHO says plasma treatment touted as breakthrough by Trump is unproven, advises caution
(DBN)

____________

Education:

The American school year is a mess, so these families decided to move abroad
(DBN)

Charter schools at war with pandemic over getting students to college
(DBN)

Ditching Dorms for the Farm, Students Take Pandemic Detours
(DBN)

Catholic Schools Make Pandemic Pitch to Reverse Enrollment Drop
(DBN)

Quoting Scalia, Federal Court Foils Betsy DeVos's Plan to Divert Coronavirus Funding to Private Schools
(DBN)

Former Liberty Student: She Was the Predator
(DBN)

____________

Mail:

USPS is telling people their mail is being held 'at the request of the customer.' It isn't true.
(DBN)

States Knock DeJoy’s Claim That Mail-in Voting ‘Will be Fine’
(DBN)

Explained: The US Postal Service's funding crisis, and what it means for the 2020 elections
(DBN)

____________

Silica:

Supporters worry mining company’s bankruptcy filing could leave fate of prairie undecided
(DBN)

____________

Firearms:

Remington to Release Bankruptcy-Related Records to Sandy Hook Families
(DBN)

____________

Transit:

MTA Preps Commuting Doomsday Scenario for NYC If No Aid Comes
(DBN)

____________

UK:

Greenberg Traurig adds London-based Dorsey banking leader
(DBN)

Croydon Council 'cannot guarantee' avoiding bankruptcy
(DBN)

Britain may try wife of US envoy in absentia
(DBN)

U.K. Puts Switzerland, Jamaica on Coronavirus Quarantine List
(DBN)

U.K. in Covid Storm May Face Worse to Come, Business Chief Warns
(DBN)

U.K. Companies Aren’t Preparing for Brexit Due to Virus, Institute Says
(DBN)

____________

Argentina:

Argentina Won’t Ask IMF for Net New Funds in Upcoming Talks
(DBN)

Argentina's day of reckoning arrives as creditors decide on $65 bln debt deal
(DBN)

____________

Sweden:

Sweden proposes raising limit on some public gatherings to 500
(DBN)

____________

China:

Shenzhen to implement personal bankruptcy rule
(DBN)

____________

Australia:

Herbert Smith Freehills Welcomes New Restructuring and Insolvency Special Counsel
(DBN)

____________

MENA:

Dozens of Beirut schools damaged by port blast won’t reopen this autumn
(DBN)

____________

Japan:

Abe says he will step down as Japan’s prime minister
(DBN)

___________


The Daily Bankruptcy News is primarily a curated news link gathering service.   Most of the headlines contained in the publication are a collection of links to stories posted on the Internet by various third party publications.  Such content is owned by third party sources, not The Daily Bankruptcy News, and in some cases, these links change or expire, which means you may not be able to view some news stories in prior editions of the Daily Bankruptcy News. The DBN subptption fee is not a fee for access to the content of the links, but is a charge for the considerable work involved in gathering, organizing and presenting the links. Use of this site and The Daily Bankruptcy News is subject to our Terms of Use. If you received The Daily Bankruptcy News via email (and you have a paid subscription account), to view a news story, click on the headline, and the story should open in your web browser. To view additional stories, click back to the email and click on additional headlines, which will cause new stories to open in your web browser.  You can view the most recent edition of The Daily Bankruptcy News on the web at BKInformation.com.

Advertising
Advertising is available in The Daily Bankruptcy News. Click here for details  Feel free to contact us with any questions.

Passwords/Subscriptions
Access to certain links in The Daily Bankruptcy News is available only to readers holding a paid service subscription. These links are currently marked with a "DBN" notation. The cost of a subscription is $66.50/year, payable annually.  Volume discounts are available for sites with multiple users. Click here to see a schedule of discounts. Complimentary subscriptions are available for full-time educational and governmental employees and for full time students. For information about discounts or educational/governmental subscriptions, contact us by clicking here. A separate password is required for each member of a firm wishing access to restricted links.

New readers can receive a free password good for 30 days by clicking here. 30-day passwords are not available to readers who have previously had a password, even if the password was associated with a different email address used by the reader. Refunds are not available after purchase.

Readers who wish to change their passwords should click here. Readers who have forgotten their password should click here.

Adding Your Email Address To The Distribution List
If you would like to start receiving The Daily Bankruptcy News by email each day, click here, and fill in the information requested. There is no charge to be placed on the distribution list to receive the headlines, although access to many of the links behind the headlines requires a paid subscription (see above, under Passwords). If, after adding your email address to the distribution list, you do not receive an email confirming the addition, please contact us by clicking here for help.

Removing Your Email Address From The Distribution List
If you already receive The Daily Bankruptcy News by email and you wish to remove your email address from the distribution list, click here and send the email that should appear. You do not need to type anything in the body of the email message. Note that the email asking for removal must be sent from the same email address which is on our distribution list. If you do not receive an email confirming deletion of your email address from the distribution list, contact us by clicking here for help.

If receive the publication forwarded from an older email address, you will need to contact us as described below for help removing that older address from our distribution list.

Press Releases/News Tips
Please send press releases and news tips to admin@bkinformation.com

Contact Us
The Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C. You can phone or text us at 281-402-3957. You can email us at accounting@bkinformation.com (email inquiries are usually answered substantially more quickly than phone inquiries). Our mailing address is 935 Eldridge Road, No. 350, Sugar Land, Texas 77478.
Copyright 2020