September 11, 2020

The Daily Bankruptcy News

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Law:

Elite Wall Street Firm Davis Polk Moves to Modified Lockstep Pay
(DBN)

Dozens of Pinsent Masons staff opt to carry on 4 day week with 20% pay cut
(DBN)

Ropes & Gray Launches Voluntary Associate Deferral Program
(DBN)

Wife in Jones Day Couple’s Suit Says Judge Misread Equal Pay Law
(DBN)

Is This Biglaw Deal Too Good To Be True? See Also
(DBN)

Your Newest Associate Might be Struggling More Than You Think
(DBN)

Sorry Associates, But This Many Of You Are Not Going To Make Partner
(DBN)

Am Law 50 Firm Offers Voluntary Deferral To Incoming Associates Until Fall 2021
(DBN)

For 2020, Revenue May Fall, but Profitability Is Largely Expected to Hold
(DBN)

Yes, There Is (Professional) Life After Biglaw
(DBN)

7 tips for cost-efficient and effective law firm marketing during COVID-19
(DBN)

Networking In Person In The Time Of Corona
(DBN)

The Pandemic Has Put Associate Development Back on the Back Burner
(DBN)

Leaked report reveals blame game at Baker McKenzie over Gary Senior scandal
(DBN)

Budget Cuts Are Pushing More Legal Departments to Internally Streamline E-Discovery, Pre-Litigation
(DBN)

Pennsylvania High Court Rejects Diploma Privilege ... Again
(DBN)

Ex-Jones Day Associate Seeks to Bridge Dual Gender Bias Suits Against Firm
(DBN)

ExamSoft Compensated Key Customers, Raising Specter Of Conflicted Law Schools, Bar Exams
(DBN)

How To Become A Provisional Licensee, At Least In California
(DBN)

Zoom Clerking Builds Bonds Without Usual Ski Trips, Happy Hours
(DBN)

Police shot Portland slaying suspect without warning or trying to arrest him first, witness says
(DBN)

Judges: Trump order to exclude people violates the law Court blocks Trump's move to exclude undocumented immigrants from census
(DBN)

Swept up in the federal response to Portland protests: 'I didn't know if I was going to be seen again'
(DBN)

Former officers charged in George Floyd killing turn blame on each other
(DBN)

FBI warns of increasing extremist threats to the 2020 elections
(DBN)

Judge Orders Saudi Testimony in 9/11 Trial
(DBN)

Court Greenlights Lawsuit Alleging Trump’s Inaugural Committee Funneled Money to His Personal Businesses
(DBN)

Giuliani Says Armed St. Louis Lawyers Came 'Very Very Close' to Being Murdered and Raped by Protesters
(DBN)

How Guns Twist the Logic of Self-Defense Laws
(DBN)

Inside the privileged lives of protesters busted for rioting in Manhattan
(DBN)

Texas police group puts up billboard warning "enter at your own risk," saying Austin defunded police
(DBN)

Utah Solicitor General Accused of Misrepresentation by Judge
(DBN)

Well-Known Florida Attorney Was Shot and Killed by Troubled Son, Friend Says
(DBN)

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Judges:

Trial Judge Scolded for Telling Defendant Federal Court ‘Sucks’
(DBN)

Unlike 2016, Trump's Supreme Court shortlist could galvanize the left more than the right Additions to Trump’s SCOTUS short list include 3 GOP senators, 2 judges rated ‘not qualified’
(DBN)

Bias cases of JAMS arbitrator who shared racist email should undergo review, group says
(DBN)

Age of Trump Judicial Nominees Sparks Questions Over Experience Federal judicial nominee lacks enough experience, ABA says in letter explaining ‘not qualified’ rating
(DBN)

Courts Making Juror Safety a Top Priority
(DBN)

Pa. Supreme Court criticizes former justice who received reprimand over Jerry Sandusky case
(DBN)

______________

Wall Street:

US stock futures rise following Thursday’s wild ride
(DBN)

Here’s what happened to the stock market on Thursday
(DBN)

The stock market is detached from economic reality. A reckoning is coming.
(DBN)

Citi Beats JPMorgan to Shatter Wall Street’s Glass Ceiling
(DBN)

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Layoffs:

Maison Kayser lays off 708 employees
(DBN)

German truck maker MAN to cut up to 9,500 jobs to become profitable
(DBN)

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Food/Beverage:

CDC report: dining out increases risk of contracting coronavirus more than other activities
(DBN)

Maison Kayser Files In BK SD NY - First Day Dec New York Bakery Chain Maison Kayser Files Bankruptcy, Plans Sale
(DBN)

Aid deadlock and winter: Dual crises could shutter thousands of bars, restaurants for good
(DBN)

How to Save Restaurants
(DBN)

Why Pizza Has Become The Pandemic’s Power Meal
(DBN)

Congress Must Bail Out Bars for Public Health’s Sake
(DBN)

Florida To Reopen Bars At 50% Capacity
(DBN)

TooJay’s Deli has a new owner, emerges from bankruptcy protection
(DBN)

____________

Retailing:

Century 21 Stores to Commence Wind Down of Retail Operations Department Store Blames Insurers As It Files Bankruptcy and Shuts Down Century 21, A ‘Dangerously Addictive’ Place, Just Became The Latest Coronavirus Casualty Discount retailer Century 21 files for Chapter 11 bankruptcy and is closing all of its 13 stores Why Century 21 went bankrupt, while other off-price retailers remain resilient Century 21 reveals the reason why it survived 9/11 but not the coronavirus pandemic Century 21, the Beloved Fashion Discount House, Is Closing First Day Dec
(DBN)

How General Counsel Rachel Barnett Helped Save Brooks Brothers
(DBN)

Mall Operators Should Bet on Amazon, Not J.C. Penney
(DBN)

American Eagle to close up to 50 stores this year, eyes hundreds more
(DBN)

GameStop to close up to 450 stores this year
(DBN)

J. Crew emerges from bankruptcy
(DBN)

Penney Is Saved: Now What? JCPenney’s Future Is Saved J. C. Penney Assets Are Being Bought But Not The Actual Company
(DBN)

J.C. Penney Posts Steep Sales Decline for Second Quarter
(DBN)

The Sears/Kmart Great Disappearing Act Will Reduce Store Count To Just 60
(DBN)

____________

Fraud:

Justice charges 57 in alleged theft of $175 million in coronavirus relief funds
(DBN)

Data Analytics Drive DOJ's PPP Fraud Enforcement, Top Official Says
(DBN)

USAO, SEC Charge Big Law Attorney with Fraud
(DBN)

Iron and Steel Company Owner Admits to Pocketing Employees Federal Withholding Taxes
(DBN)

White House moves to curb policing of corporate misbehavior
(DBN)

____________

Politics:

Most Americans plan to vote before Election Day, a significant shift from previous years, poll finds
(DBN)

Most voters don’t see Trump and Biden as mentally fit to be president, new poll shows
(DBN)

New poll confirms Republicans' wariness of voting by mail
(DBN)

Democrats build big edge in early voting
(DBN)

Voters’ Attitudes About Race and Gender Are Even More Divided Than in 2016
(DBN)

Cook Political Report moves Florida from "leans Democratic" to "toss up" in 2020 race
(DBN)

The first debate means everything
(DBN)

Trump keeps bragging about imaginary auto plants in swing states
(DBN)

Republican worries rise as Trump campaign pulls back from television advertising
(DBN)

Trump, struggling to define Biden, steps up Harris attacks
(DBN)

Of Course Trump Couldn’t Resist Bob Woodward Trump says 'didn't lie' about virus after bombshell book Trump Was ‘Ecstatic’ About Talking to Woodward—Until He Wasn’t SC’s Graham says he orchestrated Trump-Woodward interviews Trump says everyone knew the coronavirus was airborne: It’s ‘no big thing’ Trump seeks to shift scrutiny amid Woodward fallout Historian predicts Trump downplaying pandemic will go down as 'the greatest dereliction of duty' in presidential history
(DBN)

Senate Republicans scramble to contain fallout from Woodward bombshell
(DBN)

Michael Cohen Explains Why Donald Trump Is So Obsessed With Barack Obama
(DBN)

NYT reporter removed from Trump rally in Michigan
(DBN)

Trump's lead over Biden on the economy appears vulnerable, a potential turning point
(DBN)

Democrats may not trust the results of the election if Trump wins
(DBN)

He tweeted about a conspiracy theory and 'gender bending.' Now Trump wants him to run the Office of Personnel Management.
(DBN)

US charges Russian with plot to create election distrust U.S. Sanctions Three Russians and Rudy Giuliani Ally Known as ‘Ukrainian Putin’ for Election Meddling
(DBN)

Trump campaign weighing White House event around Election Day
(DBN)

Court Rebuffs Texas Democrats’ Effort to Expand Mail-in Ballots
(DBN)

____________

Education:

No Wifi, No AC: Inside the Chaos of 1,400 COVID Cases at One College
(DBN)

A group of students knew they had covid-19. They hosted a party over Labor Day anyway.
(DBN)

Trump pushes colleges to keep campuses open despite rising coronavirus cases
(DBN)

As students return, the deaths of at least six teachers from covid-19 renew pandemic fears
(DBN)

DeVos drops rule giving coronavirus aid to private schools after judge rules it was illegal
(DBN)

Covid-19 Interrupts Flow of Foreign Students to U.S.
(DBN)

Schools that are mostly Black, Latino favor starting online
(DBN)

28-year-old South Carolina teacher dies of COVID-19 At Least 6 U.S. Teachers Have Died From Covid-19 Since Schools Reopened
(DBN)

Germany's schools largely avoid virus
(DBN)

____________


Economy:

Weekly Initial Unemployment Claims unchanged at 884,000 Comments on Weekly Unemployment Claims 884,000 people filed for jobless benefits last week, the second week in a row of fewer than a million claims Weekly jobless claims miss estimates as employment gains taper Jobless claims come in worse than forecast, and with a key 'red flag'
(DBN)

61% of Americans looking for jobs right now want to switch careers
(DBN)

These states have the worst unemployment rates
(DBN)

U.S. Producer Prices Increased More Than Forecast in August
(DBN)

Fed Seen Balking Again at Providing Fresh Interest-Rate Guidance
(DBN)

Fed GDPNow latest estimate: 30.8 percent
(DBN)

Small-Business Owner Optimism Continues to Grow in Latest Wells Fargo Survey
(DBN)

Pandemic Financially Imperils Nearly Half Of American Households, Poll Finds
(DBN)

‘You had to dress like a man’: Five lessons Citi’s first female CEO learned over her 32-year career
(DBN)

1 in 10 Americans are struggling to afford enough food amid the pandemic
(DBN)

Goldman forecasts a much bigger 35% jump in Q3 GDP growth
(DBN)

A pandemic, a motel without power and a potentially terrifying glimpse of Orlando's future
(DBN)

Nebraska to end nearly all social distancing restrictions
(DBN)

Senate votes down McConnell-backed coronavirus bill Virus bill blocked in Senate as prospects dim for new relief GOP senators say coronavirus deal dead until after election
(DBN)

Trump’s Payroll Tax Pause Fizzles as Employers Spurn the Move
(DBN)

Extra Unemployment Benefits Authorized by Trump Running Dry
(DBN)

The latest frontier in worker activism: Zoom union campaigns
(DBN)

JPMorgan tells senior traders to return to offices by Sept. 21
(DBN)

Barclays Hudson Yards Interest Points to Future of Office Demand
(DBN)

‘It’s Really Sad’: NYC’s Hudson Yards Reopens, But Few Show Up
(DBN)

Americans Stayed Inside Even as Cities and States Reopened
(DBN)

What It Might Mean If We All Work From Home?
(DBN)

Ginni Rometty says employers must be open to workers without four-year degrees
(DBN)

New Data: The State Of Main Street Businesses Six Months Into The Pandemic
(DBN)

Welfare, Tax Rules Keep Working-Class Americans From Marrying, Experts Say
(DBN)

Lenders calm despite fallen angel risks
(DBN)

America’s $20 Trillion Debt Pile Is Getting Cheaper as It Grows
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

Fixed mortgage rates tumble to lowest levels in history
(DBN)

Record number of borrowers can save on mortgage refinance, as rates hit new low
(DBN)

The CDC banned evictions. Why some renters could still lose their homes
(DBN)

WeWork Bets On Outdoor Spaces For The COVID Era
(DBN)

The Impact of Bankruptcy Issues On COVID Lease Restructurings
(DBN)

____________

Municipalities:

150 Big Businesses Warn Mayor of ‘Widespread Anxiety’ Over N.Y.C.’s Future NYC Business Leaders Urge Mayor to Fix Degraded City Services NYC Business Warn NYC Mayor Of ‘Quality Of Life’ Concerns
(DBN)

Spiking coronavirus cases and falling oil prices deliver dual blow to North Dakota
(DBN)

____________

Oil/Gas:

IEA calls for ‘dramatic’ scaling up of clean energy tech to meet climate goals
(DBN)

Ursa Piceance files for bankruptcy
(DBN)

____________

Healthcare:

Global death toll tops 900,000, U.S. toll above 190,000 and experts slam Trump for playing down virus
(DBN)

The U.S. pandemic timeline
(DBN)

We're numb to the coronavirus
(DBN)

Suicides Among U.S. Kids and Young Adults Have Been Soaring
(DBN)

The Coronavirus is Almost Everywhere
(DBN)

CDC: People with COVID-19 twice as likely to have eaten out at a restaurant before getting sick
(DBN)

Scott Atlas, pandemic adviser to Trump, slammed by Stanford health experts
(DBN)

U.S. Covid Funding Flaw Shortchanges Hospitals in Black Communities
(DBN)

Speaking quietly can reduce COVID spread, study finds
(DBN)

The pandemic is about to enter its most treacherous phase
(DBN)

Fauci warns US needs to 'hunker down' for fall, winter: 'It's not going to be easy'
(DBN)

'Follow the science' isn't a covid-19 strategy
(DBN)

FDA chief says he has ‘no intention’ of overruling career staff on coronavirus vaccine decision
(DBN)

OSHA fines South Dakota meat packing plant for 'failing to protect employees' from coronavirus
(DBN)

Trump health official spent millions to boost her ‘personal brand,’ Dems charge $2,933 for ‘Girl’s Night’: Medicaid chief’s consulting expenses revealed
(DBN)

America Is Trapped in a Pandemic Spiral
(DBN)

Public trust in CDC, Fauci, and other top health officials is evaporating, poll finds
(DBN)

New Coronavirus Cases Rise in U.S. Despite Slowdown in Testing
(WSJ)

____________

Tech:

Google Blocks Search Suggestions to Stop Election Misinformation
(DBN)

Twitter expands rule against misleading voting info after Trump tweets
(DBN)

____________

Utilities:

Portland General tumbles after report equipment possibly led to fires
(DBN)

The increasing appetite for air conditioning
(DBN)

____________

Transit:

New Yorkers on Public Transportation Must Wear Masks, Cuomo Says
(DBN)

____________

Personal Finance:

Banker Who Quit for Her Kid Builds Booming Freelance Consultancy
(DBN)

____________

Autos:

McLaren Considers Sale of Global Headquarters to Raise Cash
(DBN)

____________

Student Debt:

Tenth Circuit Agrees with the Fifth Circuit – Private Student Loans May be Dischargeable in Bankruptcy
(DBN)

Forgiving Federal Student Loans Is A Horrible Idea
(DBN)

Former ITT Student Sues Navient For Student Loan Forgiveness Scammed student sues Navient, asking for cancellation of debt he took on to attend for-profit college
(DBN)

____________

Movie Theaters:

AMC’s CEO describes theater precautions, including upgraded air filtration
(DBN)

As movie theaters reopen nationwide, some employees are reluctant to return
(DBN)

____________

Fitness:

New York Sports Clubs Owner Plans to File for Bankruptcy
(DBN)

____________

Firearms:

Bankrupt Remington gets $65m offer for ammo business- and the bidder might surprise you
(DBN)

____________

Hotels:

Hotels Beg Congress For Help To Avoid Foreclosure And The Loss Of Millions Of Hospitality Jobs
(DBN)

How Hotels Are Helping Their Neighbors Fight the Pandemic
(DBN)

____________

Personal Finance:

These simple habits can stop work-from-home burnout
(DBN)

____________

Payroll Services:

Firm bankrupted by MyPayrollHR's collapse could be awarded $80 million
(DBN)

____________

Newspapers:

PBGC to Pay Pension Benefits for McClatchy
(DBN)

____________

Gig Economy:

The Emperor Has No Clothes – Uber’s Business Model Is Broken
(DBN)

____________

Coal:

US coal companies reduced estimated asset value by at least $1.80B in Q2
(DBN)

____________

Defaults:

Watch Out for a Doubling of Junk Defaults, Warns Gundlach
(DBN)

____________

 


New Bankruptcy Opinions
(3 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings (97 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (6 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:

PPP loans kept many small businesses afloat this summer. Without more funds, experts say a wave of bankruptcies is coming.
(DBN)

ABI: Federal moves keep August bankruptcies from ‘overwhelming the court system’
(DBN)

Reckoning day: Lawyers ready for tidal wave of bankrupt businesses
(DBN)

______________

Bankruptcy Bonuses:

The Push and Pull of Executive Bonuses and Bankruptcy
(DBN)

____________

UST:

BK WD TX: UST Seeks Trial Attorney Assistant United States Trustee
(DBN)

UST Seeks Trial Attorneys In TX, VA, DE NY
(DBN)

____________

Force Majeure:

Recent Case Confirms Need for Landlords and Tenants to Address Force Majeure and COVID-19 in All Current and Future Agreements
(DBN)

____________

Jurisdiction:

FERC v. US Bankruptcy Courts: The Battle Continues
(DBN)

____________

Insurance:

Insurers Raise D&O Premiums, Restrict Coverage, and Reportedly Leverage Pandemic to Boost Long-Term Profitability
(DBN)

Munich Re Stops Selling Pandemic Business Coverage After Losses
(DBN)

____________

Small Business:

Subchapter V Debt Limit: Lease Rejection Damages and PPP Loans (In re Parking)
(DBN)

____________

Bankruptcy Strategy:

Bankruptcy Is Never Easy for Lenders!
(DBN)

____________

Aviation:

U.S. to end enhanced coronavirus screening of airline passengers arriving from overseas
(DBN)

U.S. bankruptcy judge rejects LATAM Airlines proposed $2.4 billion financing deal U.S. bankruptcy judge rejects LATAM Airlines proposed $2.4 billion financing deal
(DBN)

Lufthansa to shed biggest planes in deepening fleet shakeup
(DBN)

The airline sector is in denial about its imminent collapse
(DBN)

Airlines Once Again Approach Congress With Captain's Hat in Hand
(DBN)

Cops haul ‘hysterical’ family off WestJet flight because their ’19-month-old baby wasn’t wearing coronavirus mask’
(DBN)

Tigerair officially shuts down after 13 years in the air
(DBN)

Creditors map out normalization plan for Asiana after deal collapses Asiana takeover deal falls through, creditors to inject more funds for stabilization
(DBN)

Singapore Airlines To Shed 4,300 Jobs Due To Virus
(DBN)

South African Airways needs state cash next week -administrators
(DBN)

British Airways owner IAG to cut more flights
(DBN)

____________

Climate:

Deadly wildfires worsen across California, Oregon and Washington
(DBN)

Flames and Smoke Sweep Across U.S. West While Blackouts Ebb
(DBN)

California wildfires growing bigger, moving faster than ever 10 dead as California fire becomes deadliest of year
(DBN)

10% Of Oregon Forced to Flee
(DBN)

West Coast Fires: Videos From Space
(DBN)

6 of 20 largest California wildfires were in 2020 Wildfire north of Sacramento is now the largest in California history
(DBN)

The California Dream Turns Into a Nightmare
(DBN)

‘Evacuate now:’ Wildfires grow in Oregon as 500K flee
(DBN)

Western wildfires break records, as devastating toll on lives and homes begins to emerge
(DBN)

Stunned residents tour Oregon town devastated by wildfires
(DBN)

FactCheck: Most of the wildfires on the West Coast are “all being started by antifa.”
(DBN)

La Nina Is Here, Threatening Even Bigger Blazes and Hurricanes
(DBN)

____________

Awards:

Vault Rankings: Top Law Firms By Practice Area And Region (2021)
(DBN)

____________

Finance:

Well, Here’s One Way JPMorgan Became The Largest Distributor Of PPP Funds
(DBN)

____________

Sports:

Not Even Covid-19 Can Come Between the NFL and TV Money
(DBN)

Return of football renews fears over more virus spread
(DBN)

Patrick Mahomes, Deshaun Watson lead joint demonstration prior to kickoff, players react to alleged 'boos' Chiefs fans boo players 'show of unity'
(DBN)

Chiefs beat Texans as NFL season like no other kicks off with nod to social injustice
(DBN)

NFL broadcasts will feature phantom fans cheering stellar plays
(DBN)

Opening the NCAA tournament to every team is an awful idea, even in a pandemic
(DBN)

Former New York Jets WR Charged for Pandemic-Related Fraud Days After Being Cut by the Team
(DBN)

____________

UK:

Londoners Venture Back to Work Despite Rise in Virus Infections
(DBN)

U.K. Economy Surges in July But Clouds Gather Over Jobs
(DBN)

Johnson has reasons to worry about Biden win, former British ambassador says
(DBN)

EU demands UK drop a planned law that breaches Brexit deal EU Demands Johnson Amend U.K. Market Bill by End of the Month
(DBN)

The return of Brexit bedlam
(DBN)

U.K. Adds Portugal and Hungary to Coronavirus Quarantine List
(DBN)

‘Operation Moonshot’: £100BILLION plan could see entire UK population tested for coronavirus in just a week
(DBN)

UK reaches agreement with Japan to clinch its first major post-Brexit trade deal
(DBN)

UK’s post-Brexit plan puts trade deal with the EU — and the U.S. — at risk
(DBN)

British farmers will be trampled in the rush for free trade deals
(DBN)

UK economy grew 6.6% in July as gradual recovery continues
(DBN)

____________

EU:

Some ECB Officials Pushed for More Optimistic View on Economy
(DBN)

Europe Passes U.S. in New Covid Cases, Re-Emerging as Hotspot
(DBN)

____________

PIIGS:

Thousands sleep in open after Greek refugee camp burns down
(DBN)

____________

France:

France Virus Cases Rise Most Since End of Lockdown COVID beds fill up as virus pressure builds in Marseille
(DBN)

____________

MENA:

Trump bragged to Woodward about protecting Saudi crown prince after Khashoggi killing: 'I saved his ass'
(DBN)

Jobs Crisis Math Is Getting Impossible for Israel During Pandemic
(DBN)

Israelis worry about lockdowns: 'Better to get COVID-19 than to starve'
(DBN)

For Beirut's survivors, days of waking nightmares
(DBN)

____________

Denmark:

New Covid Cases Soar in Denmark, Surpassing No-Lockdown Sweden
(DBN)

____________

India:

Many companies are in default due to force majeure clauses: IBBI Chief
(DBN)

____________

Germany:

German insolvencies fall despite COVID-19 pandemic
(DBN)

Germany Cuts Tax Forecast by 19.6 Billion Euros on Pandemic
(DBN)

Reflections on COVID-19 – Views From Germany
(DBN)

____________

Australia:

Are we kicking the insolvency and restructuring can down the road?
(DBN)

____________


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