December 22, 2020

The Daily Bankruptcy News

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Law:

Biglaw Firm Offers Special COVID Bonuses To Associates On Top Of Other Special Bonuses
(DBN)

After Hyping Above-Market Windfall, Kirkland & Ellis Releases Their Bonuses
(DBN)

Magic Circle Gives Special Bonuses, But How Much Is Anyone’s Guess
(DBN)

Quinn Emanuel Urquhart & Sullivan Names New Restructuring Partner
(DBN)

CEO roundtable with Ari Kaplan: Lessons learned, silver linings and the road ahead
(DBN)

Overlooked Secrets Of The Modern Lawyer
(DBN)

Millions in Florida PPP Loans Went to Equity Partners Whose Law Firms Also Took Loans
(DBN)

LACBA Eyes Bankruptcy Reorganization
(DBN)

Law School Prof Says ACTUALLY Asking Me For A Longer Exam Window Is A Lot Like Killing George Floyd
(DBN)

Law School Responds To Stress Of The Season With Pie
(DBN)

Attorney General Barr Says No to Idea of Election Fraud and Hunter Biden Special Counsels Two Days Before He Leaves DOJ AG: ‘No reason’ for special counsel on election, Biden’s son Barr refutes Trump on Hunter Biden, voting machines, Russia hack
(DBN)

Former Justice Department Lawyer Apologizes For Not Quitting Sooner So Trump Would Have Crappier Lawyers
(DBN)

Top 5 legal technology stories of 2020
(DBN)

Trump mulls new election gambits as conspiracy theorist Sidney Powell returns to White House
(DBN)

Michael Cohen: Trump's Legal Problems Ahead
(DBN)

Inside Trump’s pressure campaign to overturn the election
(DBN)

Right-wing shows air clarifications about "rigged" voting machines after legal threats
(DBN)

House Democrats, Vowing to Continue Investigation When Biden Is President, Urge Appellate Court to Rule on Trump Tax Returns Subpoena
(DBN)

A Black VMI cadet was threatened with a lynching, then with expulsion
(DBN)

Texas Cop Fatally Shoots Fleeing Black Man
(DBN)

TX Gov Plans to Takeover Austin Police Dept.
(DBN)

Oregon Man Arrested for Shouting Racial Slurs at Black FedEx Driver—Police
(DBN)

COVID-19 spikes follow in prisons after inmate transfers
(DBN)

Justin Amash Proposes To Eliminate Civil Asset Forfeiture
(DBN)

Pennsylvania Man Charged With Voter Fraud For Casting Ballot For Trump Under Dead Mother’s Name
(DBN)

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Judges:

BK WD MI: Public Notice for Reappointment of The Honorable Scott W. Dales
(DBN)

United States Bankruptcy Judgeship Eastern District of Michigan Notice of Vacancy
(DBN)

Ex-Judge Suspended for Jailing Woman Who Screamed in Courthouse
(DBN)

New York Is Ousting Older Judges to Save Money. They’re Fighting Back.
(DBN)

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Wall Street:

S&P 500 futures rise slightly after Congress passes Covid relief bill
(DBN)

S&P 500 closes lower in volatile session after new Covid strain causes U.K. to lock down
(DBN)

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Layoffs:

Boca Raton Resort & Club lays off 995 employees
(DBN)

Labor group wants J.Crew to push local manufacturer to rehire retrenched workers
(DBN)

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Politics:

Trump Is Losing His Mind
(DBN)

Trump turns on everyone
(DBN)

Trump trashes McConnell to fellow Republicans
(DBN)

House GOP Meets with Trump to Try to Overturn Election
(DBN)

Trump Suggests Military Intervention for US
(DBN)

It feels as if Congress is first class on the Titanic
(DBN)

Blame game begins over massive SolarWinds hack Barr Says Russia Likely to Blame for Massive Cyber Attack SolarWinds Adviser Warned of Lax Security Years Before Hack U.S. Treasury confirms SolarWinds hack as more officials blame Russia
(DBN)

Virginia removes Robert E. Lee statue from U.S. Capitol
(DBN)

Heavily Armed Far-Right Mob Floods Oregon Capitol
(DBN)

Senator Amanda Chase Is What the Next Frontier of GOP Lunacy Looks Like
(DBN)

What All the Secession Talk Really Means
(DBN)

Report: Social media manipulation affects even US senators
(DBN)

Nonprofit coalition demands Biden act on misinformation
(DBN)

Trump is leaving behind crises and undermining Biden before he takes office
(DBN)

Trump Signs Order Mandating ‘Beautiful’ New Federal Architecture
(DBN)

Trump Is Already Wondering What Airport Will Bear His Name
(DBN)

Loeffler’s wealth, Trump loyalty face scrutiny in Georgia
(DBN)

Trump grants immunity over 1998 U.S. Embassy bombings in Sudan deal
(DBN)

Trump administration weighing legal immunity for Saudi crown prince accused in assassination plot
(DBN)

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Sports:

Teams opt out, Rose Bowl moves to Texas
(DBN)

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Transit:

New York MTA Says Federal Aid Deal Prevents ‘Devastating’ Cuts
(DBN)

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Banking:

Citi Trial Puts Banks on Notice to Make Sure They’re Not Next
(DBN)

Man Loses $18K Savings After Bank Says He Waited Too Long to Report Theft
(DBN)

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Skiing:

Backcountry skiing — and equipment — see surge in interest as ski resorts limit crowds
(DBN)

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Coal:

Judge Denies Former CEO’s Move to Liquidate Blackjewel Coal
(DBN)

White Stallion Energy bankruptcy gets messy as lenders question sale prospects
(DBN)

Desjardins Vows to Sharply Cut Coal Investments to Aid Phase-Out
(DBN)

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Autos:

December Vehicle Sales Forecast: "Rise Slightly from November"; Annual Sales Down 16% from 2019
(DBN)

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Hotels:

Ashford: Insolvency imminent without new financing
(DBN)

Second Brooklyn Hotel Files for Bankruptcy in Less Than a Week
(DBN)

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Nursing Homes:

Covid Spurs Families to Shun Nursing Homes, a Shift That Appears Long Lasting
(WSJ)

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Food/Beverage:

‘We can’t survive’: Restaurant owners say new Covid-19 relief is ‘not enough’
(DBN)

2020’s Kings of Pain: Restaurant sectors hurt most by the pandemic
(DBN)

25 restaurant and franchisee bankruptcies in 2020
(DBN)

‘Three martini lunch’ tax break may fall short for battered eateries, advisors say
(DBN)

As COVID-19 Ravaged This Iowa City, Officials Discovered Meatpacking Executives Were the Ones in Charge
(DBN)

Maison Kayer US Biz Strikes Deal On Coronavirus Loans
(DBN)

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Agribusiness:

Former Dean Foods Farmers Should Band Together
(DBN)

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Media:

Ex-NBA Player’s Group Named Winning Bidder for Bankrupt Ebony Media
(WSJ)

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Crypto:

Italian police accuse cryptocurrency exchange boss of huge fraud
(DBN)

Cryptocurrency firm Ripple expects to be sued by the SEC; XRP plunges
(DBN)

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Utilities:

Claims against PG&E for California wildfires are piling up again. Here’s the latest tally
(DBN)

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Pharma:

Files Raise Questions About Purdue Pharma Family’s Transfer of $10B Over Decade Sacklers cited fear of OxyContin lawsuits before transferring $10 billion from their company, documents show
(DBN)

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Economy:

Seven High Frequency Indicators for the Economy
(DBN)

Republicans take aim at the Fed
(DBN)

Fed backstop masks rising risks in America’s corporate debt market
(DBN)

The world's dual realities could harden in 2021
(DBN)

U.S. Treasury yields fall amid fears of new coronavirus strain
(DBN)

Congress passes long-awaited relief bill and government funding plan
(DBN)

The COVID-19 stimulus deal includes a tax break for business lunches pushed by Trump, in exchange for measures that help the poor, report says Americans will get stimulus checks as soon as next week, Mnuchin says 'Better than nothing'- the U.S. $900 billion COVID-19 stimulus helps but underwhelms The income limits to be eligible for the $600 stimulus check All You Need To Know About Round Two Of Covid-Related Stimulus Checks $600 Stimulus Check Barely Covers One-Tenth of Predicted Rent, Utility Arrears Covid relief bill offers 11 weeks of extra unemployment benefits, $300 subsidy Some workers will get an extra $100 on top of new $300 weekly unemployment boost $ 900 billion stimulus is second biggest in U.S. history, but it won't last long enough Congress’ rescue aid: A dose of support, but is it enough? New Stimulus Tides Over U.S. Economy Without Being a Cure-All Businesses Get $100 Billion Tax-Write-off Windfall in Aid Bill Pelosi and Schumer say more needs to be done despite $900B Covid relief package 'Simply not enough': Small business allies decry Congress' short-term fix Not an Ideal Process or an Ideal Agreement, but, Finally, a Deal Breaking down the $900B stimulus package and $1.4T omnibus bill Here's A Breakdown Of Everything Inside The $900BN Stimulus Bill, And What It Means For The US Economy Congress proposes $10 billion for child-care industry in latest relief package Beer, Restaurants and Nascar Win Tax Breaks in Virus-Relief Bill Adult dependents are once again not eligible for stimulus checks All You Need To Know About Round Two Of Covid-Related Stimulus Checks Covid Relief Bill Has Goodies for CEOs What each side of the aisle won and lost in the Covid relief deal
(DBN)

Relief Checks Reflect New Power of Suburban Voters
(DBN)

These 5 billionaires added the most to their net worths in 2020
(DBN)

In mid-2020, the least wealthy gained the most net worth
(DBN)

AP-NORC poll: Virus-weary Americans less festive this year
(DBN)

Biden Names Ex-Warren Aide Ramamurti to His Economic Team
(DBN)

Rich Americans Who Fear Higher Taxes Hurry to Move Money Now
(DBN)

Chicago Fed National Activity "Index Suggests Slower, but Still Slightly Above-Average Growth in November"
(DBN)

Hundreds of Floridians line up for free groceries as growing demand, decreasing supply pinches food banks
(DBN)

Lawmakers allocate $13 billion to food assistance programs
(DBN)

Don’t Wait to Wind Down ‘Zombie’ Subsidiaries
(DBN)

US Paid Dearly for Leaving Trans Pacific Pact
(DBN)

U.S. trade deficits continue to grow
(DBN)

2020 in 20 Charts
(DBN)

17 Worst Companies to Work for in America
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Delaying the Inevitable? Pier 1, Chuck E. Cheese, and Rent Abatement in Bankruptcy
(DBN)

MBA Survey: "Share of Mortgage Loans in Forbearance Increases to 5.49%"
(DBN)

Black Knight: National Mortgage Delinquency Rate Decreased in November
(DBN)

Servicers likely to keep foreclosures low in 2021
(DBN)

National eviction ban will be extended through January in stimulus deal Stimulus bill includes $25B in emergency rental relief, extends eviction ban
(DBN)

Rental assistance in new Covid relief plan is not enough, experts warn
(DBN)

How the latest stimulus impacts renters and homeowners
(DBN)

The looming danger facing the affordable housing industry
(DBN)

Oxford makes US$2B urban living bet on Toronto skyscrapers
(DBN)

Billionaire Reubens Bet Big on Manhattan’s Battered Real Estate
(DBN)

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Municipalities:

Judge vows to listen to Flint residents on proposed $600M-plus settlement Judge Asked to Sign Off on $641M Settlement in Flint Water Crisis
(DBN)

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Oil/Gas:

SAExploration Successfully Completes Financial Restructuring
(DBN)

U.S. shale oil just had its worst year and the pain could bleed into 2021
(DBN)

Apple targets car production by 2024 and eyes 'next level' battery technology - sources
(DBN)

New COVID-19 strain inflicts pain on equities and oil
(DBN)

Oil tumbles as new virus strain revives demand fears
(DBN)

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Retailing:

2020’s Retail Wipeouts Warn of Permanent Pain
(DBN)

The holidays could make or break struggling stores
(DBN)

Former Macy’s CEO expects more stores to close in 2021 as Covid persists
(DBN)

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Healthcare:

Astria Health bankruptcy plan gets closer to approval as objections resolved
(DBN)

Surprise Medical Bills Cost Americans Millions. Congress Is Finally Set to Ban Most of Them.
(DBN)

California health plan files for bankruptcy
(DBN)

Medicaid reimbursement formula could derail LRGHealthcare sale
(DBN)

Henry Ford Village files for Chapter 11 bankruptcy; pledges business as usual
(DBN)

Maine hospital emerges from bankruptcy Penobscot Valley Hospital emerges from Chapter 11 bankruptcy
(DBN)

Texas Ignores CDC Vaccination Guidelines
(DBN)

California hospitals discuss rationing care as virus surges
(DBN)

TN: Covid is About to Break Our Hospitals
(DBN)

December 21 COVID-19 Test Results; Record Hospitalizations, Record 7-Day Deaths
(DBN)

‘I think this is already in the U.S.,’ Dr. Scott Gottlieb says of new U.K. Covid strain New Covid Strain Detected in EU, Australia
(DBN)

‘Outrageous’: Gov. Sununu Says Congress ‘Cutting The Line’ To Get COVID Vaccine Ilhan Omar slams 'disturbing' younger lawmakers like fellow squad member AOC for getting vaccine before over-65s and frontline workers
(DBN)

'Subpoenas are necessary': House watchdog details extensive meddling with CDC Covid-19 reports Probe: Trump officials attacked CDC virus reports House panel subpoenas HHS, CDC chiefs as investigation into Covid response intensifies
(DBN)

Virus rules not enforced. Grieving Texas family asks: Why?
(DBN)

Bidens Get Coronavirus Vaccine in Bid to Boost Public Confidence
(DBN)

California once quelled COVID with stay-at-home order. Why this one isn’t working as well
(DBN)

Covid Killing in Rural U.S. Faster Than in Big Cities
(DBN)

Covid relief bill includes about $8 billion for vaccine distribution
(DBN)

Millions are traveling in the U.S., despite warnings.
(DBN)

Meatpacking Workers Get Priority for Vaccine Under CDC Guideline
(DBN)

Corporate America would like the vaccine now
(DBN)

About 74% of adults in the U.S. are overweight, according to the CDC
(DBN)

Why America can’t rely solely on individuals to stop Covid-19
(DBN)

As covid cases spike in Tennessee, health department warns Christmas surge 'will completely break our hospitals'
(DBN)

Amazon shuts New Jersey facility till Dec. 26 on virus spike among workers
(DBN)

Proud Boys Rally Outside California Church Defying COVID Restrictions
(DBN)

Trump's Mar-a-Lago resort hosted hundreds of Republicans, many of them maskless, for an indoor party on Friday
(DBN)

Amid evolving strains, COVID-19 vaccines likely need updates every 3 years, former FDA chief Gottlieb says
(DBN)

Trump Covid vaccine czar says Pfizer and Moderna shots should prevent new strain
(DBN)

Dr. Scott Gottlieb: New Covid strain won’t slip past vaccines very easily
(DBN)

The Five States Making the Fastest Progress Giving Covid Shots
(DBN)

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Sports:

College Basketball Needs To Shut Down During The COVID-19 Pandemic
(DBN)

Companies wary of buying Super Bowl ads as pandemic shrinks viewing parties
(DBN)

How the coronavirus pandemic affected sports in 2020
(DBN)

U.S. Olympic officials have yet to decide if vaccinations will be mandatory for Tokyo
(DBN)

Milwaukee Bucks owner: NBA teams will lose money this season
(DBN)

____________

Cruise Lines:

Carnival retrofits more ships with Medallion wearables for the day when we can cruise again
(DBN)

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Mail:

COVID bill dedicates $10B to ailing Postal Service
(DBN)

____________

Student Debt:

Mandatory student loan payments are set to resume in February 2021
(DBN)

Stimulus bill won’t extend payment pause for student loan borrowers
(DBN)

The Key to Student Loan Forgiveness: Don’t Treat All Borrowers Equally
(DBN)

____________

Telecoms:

Relief Bill Has $7 Billion to Expand Broadband, Thwart Huawei
(DBN)


____________

Movie Theaters:

Weak Box Office for ‘Wonder Woman 1984’ Is a Bad Sign for Blockbusters. And for Movie Theater Stocks.
(DBN)

Movie studio behind 'James Bond' franchise explores sale - source
(DBN)

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New Bankruptcy Opinions
(7 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Chapter 7, 12 & 13 Private Trustee Locator
(DBN)

Recent Ch. 11 Filings (28 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (7 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:

NYC: Sharp Drop in City Bankruptcies Could Foreshadow Big Jump Next Year
(DBN)

14 of the biggest bankruptcies of 2020—and who might be next in 2021
(DBN)

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Subchapter V:

Reminder: Small Business Reorganization Act to Sunset Next Year on March 27, 2021
(DBN)

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Sales:

SPACs Should Consider Targeting Bankruptcy Sales
(DBN)

Navigating the Bankruptcy Process To Acquire Distressed Government Contractors or Their Assets
(DBN)

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Setoff:

Nice explanation of the difference between recoupment and set off from the 9th Circuit.
(DBN)

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Safe Harbors:

The Bankruptcy Safe Harbors Are Not Necessarily Safe for Financial Institution Customers
(DBN)

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UST:

U.S. Trustee Program Announces Streamlined Forms for Completing Chapter 11 Financial Reports Chapter 11 Operating Reports
(DBN)

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Aviation:

U.S. airlines prepare employee recalls as relief nears; United calls them 'temporary' Airlines to recall 32,000 employees with fresh aid from Congress
(DBN)

Airline stocks slide as fast-spreading Covid strain prompts travel restrictions
(DBN)

CIGA and the Cape Town Convention: Insolvency and Aviation
(DBN)

U.S. Airlines Carry 1 Million Passengers for Third Straight Day
(DBN)

Footage shows United passengers ignoring risk of COVID to perform CPR on man who died from the virus aboard flight after 'lying about symptoms to fly'
(DBN)

U.S. lawmakers set to approve FAA reforms after Boeing 737 MAX crashes -sources Boeing Will Need to Adopt New Safety Policies Under Legislation
(DBN)

Airport Covid screeners kept in place despite known infection risk, sources say
(DBN)

Delta and British Airways agree to require Covid test before NY flights
(DBN)

I flew from New York to Boston and returned on Amtrak. Here's why the train blew the plane out of the water during the pandemic.
(DBN)

Govt may permit Air India's new owner to trim fleet, lay off employees: Report
(DBN)

Airbus to lose over $5 billion in orders under AirAsia X's proposed restructuring
(DBN)

EasyJet defers Airbus aircraft deliveries
(DBN)

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Education:

These colleges are slashing tuition for 2021-22
(DBN)

Affluent Families Ditch Public Schools, Widening U.S. Inequality
(DBN)

Arizona charter school got a PPP loan, gave $10 million to shareholder
(DBN)

US students are failing at frightening levels during the pandemic. We know Fs 'disproportionately punish' students with 'weaker safety nets', but experts can't decide what to do.
(DBN)

73 West Point Cadets Accused of Cheating
(DBN)

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Climate:

Christmas Eve Blackout May Leave Southern California in the Dark
(DBN)

Australian cattle feed invention equal to taking '100 million cars off the road' wins international prize
(DBN)

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UK:

A cold start to 2021- the Government release Insolvency Statistics for November 2020
(DBN)

U.K. in crisis
(DBN)

Double-Dip Recession Risk Mounts After U.K.’S Rough Weekend
(DBN)

London is a ghost town after city goes into strict COVID-19 lockdown
(DBN)

WHO says new Covid strain in U.K. appears more contagious
(DBN)

There is chaos at Britain's borders and fears of food shortages after France shut down the Eurotunnel and banned UK lorries for 48 hours
(DBN)

Britain tells shoppers food is plentiful despite freight halt
(DBN)

New Covid strain leaves UK isolated, with 1,500 trucks stranded at border
(DBN)

EU could ban UK flights over Covid strain as Britons are forced to sleep on the floor of German airports
(DBN)

Monkfish Price Tumble in Scotland Shows Pain of French Shutdown
(DBN)

Cuomo wants pre-flight testing for travel from U.K. to New York
(DBN)

As E.U. nations cut ties to Britain over virus mutation, fears mount over supply chain disruptions
(DBN)

Supermarkets try to calm food shortage fears amid border chaos
(DBN)

Isolated U.K. Battles to Reopen Trade Route After Day of Chaos
(DBN)

Boris Johnson Makes Last-Ditch Push for Brexit Deal With Offer on Fish Rifts over fishing rights still blocking EU-UK trade deal PM Johnson says on Brexit: still problems, we'll thrive without a deal
(DBN)

U.K.’s Co-op Bank Says Talks With Potential Buyer End
(DBN)

Australian Retailer Scoops Up Arcadia’s Plus-Size Brand Evans
(DBN)

UK couple arranges wedding in 2 hours to avoid COVID-19 lockdown
(DBN)

____________

EU:

As drug regulator meets, E.U. prepares for urgent Pfizer-BioNTech vaccine rollout EU agency OKs COVID-19 vaccine, 1st shots expected in days
(DBN)

Who Takes the Eurostar? Almost No One, as the Pandemic Fuels a Rail Crisis
(DBN)

European Stocks Slump as Virus Mutation Fuels New Lockdown Fears
(DBN)

____________

Canada:

Canadian Insolvency Trends in 2020: A Pandemic Year in Numbers
(DBN)

A Generalized Duty of Good Faith in Insolvency Proceedings: Effective or Meaningless?

Vaccine Rollout Pushes Canadian Confidence to Post-Pandemic High
(DBN)

Canada's most populous province orders holiday coronavirus lockdown
(DBN)

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South Korea:

Mahindra’s arm SsangYong Motor files for bankruptcy after missing loan repayment: All details South Korea’s Ssangyong Motor files for bankruptcy SsangYong Motor under bankruptcy court has 3 months to settle debt issues
(DBN)

A Fresh Virus Wave Is Testing South Korea’s No-Lockdown Strategy
(DBN)

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South Africa:

Virus Surge Puts South African Hospitals Under ‘Severe Strain’
(DBN)

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MENA:

Pakistan signs pact with 19 creditors for debt service suspension
(DBN)

Israel to Close Its Skies to Keep Out Coronavirus Mutation
(DBN)

____________

Germany:

German consumer morale falls further as lockdown pushes up savings rate
(DBN)

Germany synagogue attacker gets life for killing two people in attempted massacre
(DBN)

____________

Mexico:

Mexico Misled Citizens About the Severity of the Outbreak in its Capital
(DBN)

____________

Hong Kong:

Brief guide to solvent and insolvent liquidation in Hong Kong
(DBN)

____________

India:

Over 55,000 FD holders of DHFL brace for a two-thirds haircut
(DBN)

Centre extends IBC suspension till March Insolvency: Do not kick this can further along
(DBN)

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Malaysia:

Malaysia couple hosts socially distanced drive-thru wedding for 10,000 guests
(DBN)

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Japan:

Japan lowers spending view, says overall conditions are severe in Dec report
(DBN)

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