January 16, 2020

The Daily Bankruptcy News

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3-Column Formating

 

Law:

New survey finds No. 1 reason why partners leave their firms—and it’s not the most-obvious one
(DBN)

Suit by former firm partner alleges cash-flow problems, gay and racial bias
(DBN)

Atrium Law’s Pivot Puts $75M Into Legal Disruption Perspective
(DBN)

Arnall Golden Gregory Elects New Bankruptcy Partner
(DBN)

Thinking Ahead—Distressed M&A in Uncertain Times
(DBN)

Biglaw Firm Forms Mental Health Task Force
(DBN)

Wiley Rein Drops 'Rein,' Adds New Look and Moves to .Law Domain
(DBN)

Duane Morris, Satterlee Stephens in Advanced Tie-Up Talks
(DBN)

Global Firm And Mid-Sized New York Mainstay Eye Merger
(DBN)

Former Boies Schiller Lawyers Form New Litigation Boutique
(DBN)

Fired partner is accused of double billing, charging personal expenses to firm
(DBN)

Oh Look, They Arrested Michael Avenatti Michael Avenatti trying to hide assets from creditors: Prosecutors Judge revokes bail for disgraced lawyer Michael Avenatti after arrest for new financial crimes Michael Avenatti Jailed, Held Without Bond Trump antagonist Avenatti's bail is revoked; unhappy NY judge delays Nike extortion trial Avenatti to Remain in SoCal Jail Pending Trial in NY Extortion Case
(DBN)

'Change Frightens Us All:' Utah Justice Himonas on Why Deregulation, Innovation Still the Path Forward for Law
(DBN)

Partners Shouldn’t Communicate To Associates Through Other People
(DBN)

Dueling claims between MIT's Epstein investigator and Leon Black
(DBN)

Maryland's attorney general pushes for end to debt-based driver license suspensions
(DBN)

Harvey Weinstein’s lawyer thinks the #MeToo movement can be dangerous
(DBN)

Epstein trafficked and abused dozens of young girls at his private island in the Caribbean in a 'trafficking pyramid scheme,' a new lawsuit says New lawsuit claims Jeffrey Epstein trafficked girls to US Virgin Islands as recently as 2018 Jeffrey Epstein Accused of Trafficking Girls as Young as 11 in Suit
(DBN)

Federal judge temporarily halts Trump administration policy allowing local governments to block refugees ACLU sues Trump administration over Central America asylum agreements Trump Says Migrants Getting Stuck Climbing New Border Wall Is A 'Beautiful Sight'—And Proof It Works Border Patrol Officials Dodged Congress’ Questions About Migrant Children’s Deaths Honduran migrants in new US-bound caravan enter Guatemala
(DBN)

International Law Expert Thinks Donald Trump Might Not Understand How Any Of This Works
(DBN)

Michael Flynn Pleads Not Guilty, And Possibly Insane 'Pardon Me?': Legal Experts See Michael Flynn's Plea Withdrawal as Obvious Pardon Play
(DBN)

The DEA seized her father's life savings at an airport without alleging any crime occurred, lawsuit says
(DBN)

Custody litigant requests ‘trial by combat,’ suggesting it be carried out with Japanese swords
(DBN)

Trump said he will move to ensure students and teachers can pray in school. They already can.
(DBN)

Trump wanted to repeal an anti-corruption law so US businesses could bribe foreigners
(DBN)

Virginia legislature passes Equal Rights Amendment in historic vote
(DBN)

The Supreme Court takes up a deeply fraught case about state funding of religious schools
(DBN)

Man confesses to killing wife, 3 kids and dog in Florida home
(DBN)

Jay-Z hires lawyers to represent Mississippi inmates
(DBN)

How Many People Are Killed by Police in the U.S.?
(DBN)

Age discrimination victory for 55-year old Citigroup banker told ‘you’re old and set in your ways’
(DBN)

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Judges:

BK ED PA: Vacancy Announcement: Term Law Clerk to U.S. Bankruptcy Judge
(DBN)

Legal experts perplexed why Trump-appointed judge who donated to Trump’s campaign refuses to rule on Trump tax case
(DBN)

Chief justice asks: Is 'OK boomer' ageist? A “view” from the courtroom: “OK, boomer”
(DBN)

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Wall Street:

Dow futures rise more than 100 points, putting it on track to open at record high
(DBN)

Dow, S&P 500 close at record highs after Trump signs first phase of U.S.-China trade pact
(DBN)

Next U.S. president will have little effect on the stock market. Here's why.
(DBN)

Goldman pledges 'concrete' expense target after profit decline
(DBN)

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Layoffs:

Express cuts 10% of corporate workforce
(DBN)

GM Picks Lordstown for Battery Plant
(DBN)

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Food/Beverage:

Cold storage company purchases NORPAC plants
(DBN)

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Politics:

Pelosi's Impeachment Gamble Paid Off Pelosi appoints Schiff, Nadler among 7 House managers to prosecute Senate trial of Trump Meet the Impeachment Managers: Pelosi’s Prosecutors Who Will Make the Case to Remove Trump The Senate Impeachment Oath—Is Impartiality Even Possible? New evidence against Trump is likely to emerge during Senate impeachment trial, Schiff says Why Trump’s Impeachment Trial Makes Senate Republicans Squirm McConnell makes case for Trump acquittal ahead of trial House to send articles to Senate to begin Trump impeachment trial Madison and Trump did the same thing, but Trump got impeached Witnesses, documents remain pressure points ahead of Senate trial How Some Senators' Positions on Impeachment Trial Witnesses Changed from Clinton to Trump 9 questions about Trump’s impeachment trial you were too embarrassed to ask Impeachment to test the Senate's integrity Trump’s Senate Trial Kicks Off With GOP Moderates Under Pressure Trump's trial a major test for McConnell, Schumer
(DBN)

Parnas: Trump Knew Exactly What Was Going on in Ukraine Lev Parnas reveals a new Ukraine quid pro quo The stunning new texts, documents, and impeachment evidence released by the House, explained Democrats to investigate 'profoundly alarming' Ukraine texts 'Not Just Insane, But Deeply Chilling’ Parnas Docs Spark Calls for Secretary Pompeo's Resignation The Disturbing Scheme Against Yovanovitch Giuliani Associates May Have Surveilled U.S. Ambassador, New Evidence Shows Giuliani denies knowledge of efforts to track ex-Ukraine ambassador Giuliani associate: Trump had knowledge of Ukraine pressure 4 takeaways from the Lev Parnas interview and revelations Parnas used access to Trump's world to help push shadow Ukraine effort, new documents show Outreach to Ukrainian tycoon wanted in U.S. shows lengths Giuliani took to get material to bolster Trump Lev Parnas's handwritten notes about Giuliani's Ukraine push, annotated
(DBN)

Trump impeachment: Republican chair asks Hyde to drop out after texts emerge
(DBN)

Justin Amash on Trump, Iran and War Powers
(DBN)

Elizabeth Warren’s Smart Answer on ‘Electability’ Warren's Iowa strategy could be turning point Why #NeverWarren should make you nervous about 2020 How much does sexism matter for female candidates?
(DBN)

Warren sought to 'raise a concern' with Sanders in post-debate exchange, Sanders campaign says 'You called me a liar,' Warren told Sanders post-Iowa debate The feud between Warren and Sanders supporters feels like 2016 all over again Why Bernie Sanders supporters are trolling Elizabeth Warren with snake emoji Warren-Sanders rift fuels Democratic split and worries party leaders Iowa Democrats view flawed front-runners with anxiety Iowa Democrats view flawed front-runners with anxiety
(DBN)

Women running for president are raising more money from women than their male opponents
(DBN)

Michael Bloomberg is seen as Democrat most likely to beat Trump, according to betting market data
(DBN)

The Navy cryptically says it has top-secret UFO briefings that would cause 'exceptionally grave damage' to US national security if published
(DBN)

New book portrays Trump as erratic, 'at times dangerously uninformed' 'What's this a tour of?': Trump barely understood the significance of an iconic Pearl Harbor memorial during a private tour, new book says
(DBN)

Trump was reportedly 'verbally and emotionally abusive' toward former Homeland Security secretary Kirstjen Nielsen
(DBN)

Poll of Polls: President Trump Job Approval
(DBN)

These Emails Show a Trump Official Helping Her Former Chemical Industry Colleagues
(DBN)

Keep your weapons at home: Virginia governor plans to ban guns from gun rights rally
(DBN)

Wealthy donors now allowed to give over half a million dollars each to support Trump's reelection
(DBN)

Political Turmoil to Be ‘New Normal’ for 2020, Risk Firm Says
(DBN)

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Skiing:

$7.5M offer could start auction of Hermitage Club assets
(DBN)

____________

Taxis:

$500M Rescue Plan Considered For Debt-Burdened Taxi Drivers
(DBN)

____________

Newspapers:

New York Times Can’t Save Newspaper Industry
(DBN)

____________

Dairy:

Dairy industry woes show need for Farm Bill fixes, lawmakers told
(DBN)

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Economy:

Fed's Beige Book: Economic Activity Expanded "Modestly", Labor Market "Tight" Fed Says Economic Growth Was Modest In Final Weeks Of 2019 U.S. economy expands modestly but trade tensions weigh, Fed survey shows
(DBN)

Trump Appears to Lament Passing Over Warsh for Powell at Fed
(DBN)

Fed Fuels Rise In Risk Assets With Balance Sheet, Kaplan Says
(DBN)

The Federal Debt Is Nothing to Lose Sleep Over
(DBN)

Trump’s Economy Isn’t as Strong as the Jobs Numbers Suggest
(DBN)

Credit scores in America just hit a record high — now for the bad news
(DBN)

Banks reported blockbuster 2019 profit with the help of consumers' credit card debt
(DBN)

U.S. producer prices nudge up as inflation remains benign
(DBN)

Citigroup female employees earn 27% less than men
(DBN)

Morgan Stanley expects the Fed to ‘sit on the sidelines’ given an unlikely US recession
(DBN)

Fed could use negative rates if US recession strikes, Goldman Sachs chief economist predicts
(DBN)

Swedish Government Expects Return to Negative Rates in 2021
(DBN)

Northern Trust: Growth Should Continue In 2020 While Inflation Remains At Bay
(DBN)

Small Business Optimism Index "Dips" in December
(DBN)

A decline in business lending shows the impact of manufacturing's struggles
(DBN)

Manufacturing should bounce back in 2020
(DBN)

NY Fed: Manufacturing "Business activity grew to a small degree in New York State"
(DBN)

Entering labor market in recession increases mortality: study
(DBN)

New U.S.-China trade deal leaves the thorniest problems unresolved China Spins a Trade-Deal Trap in Bad Debt Market Trump Signs 'Phase 1' China Trade Deal, But Most Tariffs Remain In Place Tariffs Become New Normal as Trump Moves to Next China Demands ‘Semi-Truce’ Trade Deal Roils Markets From Stocks to Soybeans US-China Trade Deal: Winners and Losers China to boost U.S. purchases by $76.7 billion in first year of trade deal Here’s what China agreed to buy from the US in the phase one trade deal The $95 Billion Centerpiece of the Trade Deal Is Already In Doubt Trump signs partial economic deal with China, calls trade pact a 'momentous step' Trade war with China is far from over US, China deal aims to simmer long-running trade tensions Trump signs China trade deal, says tariffs could be lifted in phase 2 US lobster industry hopes new deal renews trade with China Trade Truce Offers Farm Relief But How Much Is Still Unclear U.S.-China trade deal could be good for Big Pharma Stocks Hit Record Highs As U.S. Signs Phase One Trade Deal With China Trump Gets His Trade Deal, China Gets the Win A Longterm View On U.S. Trade With China U.S.-China Phase 2 trade talks may not start anytime soon Schwarzman Says Trade Deal Shows Huge Change in U.S.-China Ties China Deal Offers US Firms Protections U.S. and China tiptoe around holes in new trade agreement Trump puts Chinese leaders' patience to test in marathon White House ceremony
(DBN)

A world trade war is brewing. The US-China deal won't stop it
(DBN)

This retailer ordered 35,000 cases of French wine to brace for possible tariffs
(DBN)

The shock of unemployment may push men into jobs traditionally held by women, study shows
(DBN)

The Problem of an Aging Global Population, Shown by Country
(DBN)

The Periodic Table of Commodity Returns
(DBN)

Foxconn's Promises Slow To Materialize In Wisconsin
(DBN)

What do experts see as the biggest risk to the world in 2020? American politics
(DBN)

White House Plans Tax Cut, Hopeful Of A Republican House Majority Kudlow says ‘tax cuts 2.0’ will be unveiled later this year during Trump presidential campaign
(DBN)

The last time this ‘clear danger sign’ flashed in the stock market was in 1999, and we all know what happened next
(DBN)

BlackRock's Assets Blow Past $7 Trillion in Milestone for Investment Giant
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

Mortgage Legal Descriptions: To Avoid Litigation, Get It Right in the First Place
(DBN)

Mapped: The Anatomy of Land Use in America
(DBN)

Homeless moms return to vacant house despite judge's order
(DBN)

New York City Property Values Rise 4.7%
(DBN)

Jumbo mortgages are haunting the housing market and things could get really scary
(DBN)

ShoppingTown Mall pays county & town taxes just hours before deadline
(DBN)

Ex-Billionaire Let French Mansion Rot, Lender Charges 
(DBN)

____________

Municipalities:

White House to require Puerto Rico to change tack on rebuild Dangling disaster relief funds, White House to require Puerto Rico to implement reforms Quake-hit Puerto Rico to get $8.2 billion in delayed U.S. aid
(DBN)

____________

Oil/Gas:

Weatherford's Out of Bankruptcy and Undervalued
(DBN)

Better Days Ahead For Battered Oilfield Services Sector
(DBN)

Renewable energy is growing fast in the U.S., but fossil fuels still dominate Wind and solar dominate new U.S. power capacity
(DBN)

Here's why McDermott's forbearance isn't bulletproof
(DBN)

____________

Healthcare:

First Thomas Health bankruptcy hearing set for this week Thomas Health begins bankruptcy process with creditors Thomas Health poised to restructure under Chapter 11
(DBN)

Americore owner says was forced into bankruptcy by aggressive creditor
(DBN)

Astria's Yakima hospital's closing may be a symptom of a bigger crisis
(DBN)

Eastern Niagara Hospital sets public forum on its future in bankruptcy
(DBN)

Bankruptcy Roller Coaster Continues for Major Daly City Hospital
(DBN)

Reva Medical files for bankruptcy
(DBN)

Many Americans still can't afford medical expenses
(DBN)

Krugman: Trump’s Plot Against Health Care Continues
(DBN)

Overwhelmed by Medical Bills, and Finding Help on TikTok
(DBN)

Half of all US nurses and doctors are burned out — and they say the healthcare system is to blame
(DBN)

Bernie Sanders says 500,000 people a year declare bankruptcy over medical expenses — here’s how to avoid that fate
(DBN)

Hospital CEO Admits For-Profit Healthcare Industry Is 'Number One Cause of Personal Bankruptcy"
(DBN)

____________

Retailing:

Sears Advisers Have Racked Up $200 Million in Fees as Vendors Await Payment
(DBN)

Target slips 7% after a weak holiday season forces it to slash sales forecast by more than half Target holiday sales disappoint amid weakness in electronics, toys and home Target 'stumbled' in the holidays as sales fell short Target Posts Surprisingly Sluggish Same-Store Sales Growth Target was strong where it needed strength, and that bodes well for the rest of the year
(DBN)

The real warning in Target’s holiday sales: Toys are in trouble
(DBN)

Pier 1 Erased 260 Stores from Website
(DBN)

Apple's former retail chief says Amazon has a 'tough' decade ahead because rivals like Walmart and Target are growing faster
(DBN)

Brave New World Of Retail: Walmart’s Robots Are Just The Beginning
(DBN)

Express cutting jobs
(DBN)

Payless emerges from bankruptcy with a plan to focus on Latin America, other international markets
(DBN)

Sears Lawsuit: $18.3 Million Settlement Awarded To Bankrupt Retailer’s Estate Sears' estate, new owner settle dispute over bankruptcy sale
(DBN)

Which Troubled Retailers Might Run Out of Time in 2020?
(DBN)

Barneys Is Closing. So What Should You Buy?
(DBN)

Costco proves why it's Amazon-proof as stores like Target and Macy's struggle
(DBN)

Bose is closing all of its retail stores in North America, Europe, Japan, and Australia, hundreds of layoffs
(DBN)

____________

Student Debt:

An Interview With Kevin Rosenberg Where He Explains How He Successfully Discharged His Student Loans In Bankruptcy Court
(DBN)

Judge rejects “myths” that it’s impossible to get rid of student loans in bankruptcy
(DBN)

Survey: 6 privileges student loan borrowers would give up for debt forgiveness
(DBN)

Two-and-a-half cheers for Elizabeth Warren's student debt plan
(DBN)

____________

New Bankruptcy Opinions
(6 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (14 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)

______________

Automatic Stay:

SCOTUS sets bright line for bankruptcy appeals when stay relief denied
(DBN)

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Cross-Border:

Why Chinese Companies File Chapter 15 Cases in US Bankruptcy Courts
(DBN)

____________

Sales:

Privacy Policies and the Value of Data in Bankruptcy Sales
(DBN)

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Safe Harbors:

Second Circuit Recognizes ‘Customer’ Safe Harbor in Tribune LBO Litigation
(DBN)

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Personal Finance:

17 US cities where retirement is affordable, taxes are reasonable, and healthcare costs less
(DBN)

The average FICO score is going up—here’s the average credit score by generation
(DBN)

____________

Crypto:

Defunct QuadrigaCX Exchange Victims Are Being Contacted By The FBI
(DBN)

____________

Fraud:

Federal Prosecutors Accuse Lori Loughlin of Withholding Evidence Loughlin Withholding Subpoened Evidence
(DBN)

Boring Man Going To Prison While The Cool Kids Swill Champagne Safe From Extradition
(DBN)

____________

Autos:

Tesla Is Once Again the Most Shorted American Stock New Tesla California Sales Down 50% in 4Q
(DBN)

____________

Agribusiness:

Crop Markets Show Little Excitement Over U.S.-China Deal
(DBN)

____________

Utilities:

How PG&E Filed for Bankruptcy
(DBN)

PG&E's war with activist Elliott, Pimco may be drawing to close
(DBN)

PG&E confident it is moving toward deal with bondholders over bankruptcy exit plan
(DBN)

PG&E Tries to Assure Strict Judge It’s Safer on Wildfires
(DBN)

California lawmaker demands probe of PG&E's chief regulator
(DBN)

Sonoma County prepares to sue PG&E for damages from fire
(DBN)

____________

Climate:

2019 capped off the world's hottest decade in recorded history The last decade was the warmest on record, NASA and NOAA find
(DBN)

America After Climate Change, Mapped
(DBN)

The limits of BlackRock's new climate strategy $10 trillion investment firm BlackRock says it is getting out of thermal coal. Here's why it won't affect Australia's biggest coal miners one bit.
(DBN)

Australia wildfires are paving the way for 'fire clouds': Here's what to know
(DBN)

Australia’s weird weather is getting even weirder
(DBN)

A Better Path to Climate Change Solutions—Cooperation, Not Lawsuits
(DBN)

Climate crisis dominates the top risks in World Economic Forum report ahead of Davos
(DBN)

Republicans Plot Climate Strategy Amid Growing Political Risk
(DBN)

____________

Hedge Funds:

Hedge Fund Manager Allegedly Transferred All Those Hundreds Of Millions For Nothing
(DBN)

____________

Aviation:

Chase removes some protections if your airline goes bankrupt
(DBN)

Trump urges Boeing to move fast on resolving 737 MAX issues
(DBN)

Delta jet failed to warn before dumping fuel over L.A.: FAA
(DBN)

Can Ukraine International Airlines Survive Iran’s Fatal Plane Downing?
(DBN)

____________

UK:

Insolvency Service scam warning: how investors and creditors can stay safe
(DBN)

Why Meghan and Harry were financially savvy to choose Canada over the U.S. to build their fortune
(DBN)

EU Warns U.K. Irish Border Deal Will Be Closely Watched
(DBN)

Britain’s Pub Industry Grows for the First Time in a Decade
(DBN)

____________

MENA:

Trump Says U.S. Troops Stayed in Syria 'Because I Kept the Oil'
(DBN)

Iran recession to deepen, reserves to fall to $73 billion by March: IIF
(DBN)

Dozens arrested as protests resume in Lebanon after weeks of relative calm
(DBN)

U.S. resumes military operations with Iraq
(DBN)

____________

Germany:

Germany posts worst annual growth since 2013 German economic growth slows to 0.6% in 2019, worst in years
(DBN)

Merkel makes clear she won’t join Trump in challenging China
(DBN)

____________

Argentina:

Argentina Posts Highest Year-End Inflation in Almost 3 Decades
(DBN)

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Brunei:

Ex-judges convicted of siphoning over $15mn from Bankruptcy Office
(DBN)

____________

Australia:

Inside Australia’s 2020 retail bloodbath as brands rocked by mass closures by mid-January
(DBN)

____________

South Africa:

South African Airways flights at risk without $139 million from government: union South Africa trawling state coffers to land SAA airline rescue Cash-strapped SAA to sell off 9 Airbus planes
(DBN)

____________

Nepal:

Autumn travel rush pulls Nepal Airlines back from the brink
(DBN)

____________

Russia:

Putin eyes becoming Russia's leader for life
(DBN)

____________

Japan:

Ghosn's Japan Lawyer Quits
(DBN)

____________

Hong Kong:

Restructuring and Insolvency Lawyer Jonathan Leitch Joins Hogan Lovells in the Hong Kong Office
(DBN)

____________

India:

India’s Top Court Rules Phone Carriers Must Pay $13 Billion to Government
(DBN)

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