April 14, 2021

The Daily Bankruptcy News

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Law:

Leaders of 62 BigLaw firms denounce voting restrictions; coalition is formed to challenge legislation Big Company General Counsel Join Big Law Voting Rights Statement
(DBN)

Associate Compensation Scorecard: Which Firms Are Sharing The Wealth Through Special Bonuses?
(DBN)

Biglaw's Chaotic Pandemic Hours
(DBN)

How to make a professional transition during the COVID-19 pandemic
(DBN)

XFL’s Quick Death Left League Lawyers Scrambling for New Roles
(DBN)

'Missing' Atty's Clients Push For Firm's Bankruptcy Landlords try to push AWOL attorney Kossoff into bankruptcy
(DBN)

Texas sues Biden for rescinding Trump's 'Remain in Mexico' policy
(DBN)

Prosecution rests case in Derek Chauvin trial Defense begins case in ex-cop’s trial over Floyd’s death Defense’s Use-Of-Force Expert Says Chauvin Didn’t Use Deadly Force
(DBN)

Obama: Daunte Wright shooting shows "just how badly we need to reimagine policing" Mayor calls for police accountability after second night of protests over Daunte Wright killing Daunte Wright's death ruled a homicide by medical examiner Pressure builds to fire Minnesota officer who killed Wright Minnesota left with grief and anger again after Daunte Wright's killing Officer who killed Daunte Wright and Brooklyn Center police chief resign In photos: Twin Cities on edge after Daunte Wright shooting
(DBN)

Before Daunte Wright's death, a gun-Taser mix-up was blamed for another police killing: Oscar Grant at Fruitvale Station
(DBN)

Could a veteran police officer really have mistaken a pistol for a Taser?
(DBN)

Video shows Black player forced to sit near banana peels
(DBN)

Judge rules in favor of Black officer fired for stopping colleague's chokehold
(DBN)

Navy, Marines investigated 13 white supremacy cases, held no court-martials: USA Today
(DBN)

Prosecutors: Oath Keepers appeared to stash Jan. 6 firearms at suburban Comfort Inn Prosecutors Cite Accused Capitol Rioter’s Jailhouse Messages to His Mom in Bid to Keep Him Behind Bars
(DBN)

“I Felt Hate More Than Anything”: How an Active Duty Airman Tried to Start a Civil War
(DBN)

Lin Wood Confirmed for Dallas QAnon Event Alongside Two Texas Republicans
(DBN)

Fox News Taps Two Texas Attorneys to Lead Fight Against Dominion Voting Systems Defamation Lawsuit
(DBN)

Trump Says New York Tax Law Doesn’t Apply Because He’s Not President
(DBN)

New Mexico governor settles with ex-aide who alleged sexual mistreatment
(DBN)

Mexico, Honduras, Guatemala deploy troops to lower migration Texas nonprofit got massive border contract after hiring Biden official Border Democrats seek asylum revamp, more help from feds
(DBN)

22 state Republican AGs send letter arguing DC statehood is ‘unconstitutional’
(DBN)

A woman was told to put on a mask inside a Florida Walgreens. Instead she went on a racist and Islamophobic rant against other customers.
(DBN)

Man who shot, killed elephant seal in California sentenced to prison
(DBN)

Texas Bill: Taking Care of Trans-Kids Would be Child Abuse
(DBN)

‘The Right to an Abortion Before Viability Is Not Absolute’: In Loss for Planned Parenthood, Divided Federal Appeals Court Allows Ohio’s Down Syndrome Abortion Ban Court: Ohio Can Ban Down Syndrome Abortions
(DBN)

______________

Judges:

BK VT: Announcement of Retirement U.S. Bankruptcy Judge Colleen A. Brown
(DBN)

Will Justice Breyer Retire? Reading The Clerk Hiring Tea Leaves
(DBN)

Clerking At The Supreme Court Is A Pretty Good Qualification For This Job
(DBN)

Alabama judge is suspended from bench after she is accused of evident anti-death-penalty predilection
(DBN)

______________

Wall Street:

S&P, Nasdaq futures rise as JPMorgan, Goldman set to kick off earnings season
(DBN)

World stocks post record highs as bond yields ease
(DBN)

US stocks rise, shrugging off inflation concerns and J&J vaccine halt
(DBN)

KKR Seeks to Raise $100 Billion by Next Year After Record 2020
(DBN)

______________

Layoffs:

South Korea Workers Need to Make Space for Robots, Minister Says
(DBN)

Kobelco to lay off 99 workers at its Moore SC excavator production plant
(DBN)

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Distressed Investing:

‘Hope and Prayer’ Money Mutes Distress
(DBN)

____________

Movie Theaters:

ArcLight Chain Shuts Down in Sign Theaters Aren’t Out of Trouble
(DBN)

____________

Non-Profits:

NRA Is Run as a Kingdom With LaPierre as King, Director Tells Judge
(DBN)

NRA Board Member Demanding Probe of Wayne LaPierre Testifies That Bankruptcy Petition Blindsided Him
(DBN)

Major Testimony From Fired NRA CFO and Acting CFO
(DBN)

____________

Defaults:

Liquidity Will Delay Default Spike for 2-3 Years, Ares CEO Says
(DBN)

____________

Retailing:

Hardest hit: Who is still at risk after last year's retail tribulations?
(DBN)

Paper Source vendors left pleading for payment as executives seek $1 million in bonuses
(DBN)

LVMH Sales Surpass 2019 as Luxury Seems to Defy Pandemic Gloom Chinese, U.S. luxury lovers power rebound at LVMH
(DBN)

Judge confirms Stein Mart bankruptcy plan
(DBN)

GameStop Vanquishes Ghost of Blockbuster With Debt Redemption
(DBN)

How the pandemic helped Walmart battle Amazon Marketplace for sellers
(DBN)

____________

Politics:

Andrew Cuomo’s White-Knuckle Ride Cuomo reportedly once compared himself to Sonny Corleone from ‘Godfather’
(DBN)

Trump digs in on attacks against Republican leaders Trump mocks Mitch McConnell for being 'helpless' to stop Biden packing out the Supreme Court
(DBN)

Inside the surprisingly close Biden-Manchin relationship
(DBN)

Matt Gaetz Associate Cooperating with DOJ Who Is Joel Greenberg? A Guide to the Man Who Could Bring Down Matt Gaetz New Details of Gaetz's Bahama Trip
(DBN)

Nikki Haley Says She Won’t Run for President In 2024 If Trump Does
(DBN)

Democrats dare GOP to filibuster Asian American hate crimes bill GOP edges back from filibuster cliff on hate crimes bill
(DBN)

Republicans move to nix primaries in show of support for Trump
(DBN)

GM and Ford CEOs Lead Michigan Group Opposing Voter Restrictions DeSantis pushes for more restrictive Florida voting laws despite rejected ballot in 2016 Mellman: McConnell blasts big business stands
(DBN)

Chamber of Commerce Urges Senators to Reject Voting Rights Bill
(DBN)

GOP Undercuts Vote-Security Push by Going Light on the Security
(DBN)

Fox News Anchor Praises Biden as ‘Iconic’ For Speech Honoring Slain Officer
(DBN)

My Pillow CEO Mike Lindell says Costco has stopped selling his products
(DBN)

Atlanta school named after Klan leader to be renamed for Hank Aaron
(DBN)

____________

Healthcare:

FDA advises pause of J&J Covid vaccine after rare blood-clotting issue affects 6 women, kills 1 Why J&J Vaccine Was Paused How Worried Should You Be About the J&J Vaccine and Blood Clots? NYC Pauses All J&J Vaccinations as of Tuesday, De Blasio says CVS, Wegmans halt Johnson & Johnson vaccines, debate how to proceed U.S. Expects to Have Enough Vaccine Supply Despite J&J Pause Don’t ‘overinterpret’ decision to pause J&J vaccine, Dr. Scott Gottlieb says ‘Devastating blow’ — doctor says J&J vaccine pause to have far-reaching effects FDA expects J&J vaccine pause to last "a matter of days" Johnson & Johnson delays vaccine rollout in Europe amid U.S. pause White House says J&J pause will not have "significant impact" on vaccination plan Moderna says its COVID-19 vaccine has not led to blood clots following J&J reports New York to replace today's J&J vaccine appointments with Pfizer Pause in Johnson & Johnson shots raises fears of new vaccine hesitancy Trump skewers FDA's Johnson & Johnson decision — then casually invents conspiracy theory blaming Pfizer
(DBN)

The new vaccine threat is fear itself
(DBN)

Understanding Vaccine Hesitancy Among Black Americans
(DBN)

Pfizer is ramping up vaccine production and will meet its goal of 300 million doses two weeks early, its CEO said
(DBN)

Covid cases are rising in more than half of U.S. states, despite ramp up in vaccinations
(DBN)

Florida COVID update for Tuesday: 9,068 new cases, the most since Feb. 5
(DBN)

Michigan's spike highlights fatigue over restrictions
(DBN)

Biden's plea for masks will fail. Blame political polarization.
(DBN)

A year into the pandemic, it’s even more clear that it’s safer to be outside
(DBN)

WHO urges halt to sale of live wild mammals in food markets
(DBN)

U.S. administers 192.3 mln doses of COVID-19 vaccines - CDC
(DBN)

The unlikely state setting the U.S. vaccination pace
(DBN)

Gov. Greg Abbott's claim that Texas is 'very close' to herd immunity is not 'even close' to being true, says expert
(DBN)

This is no time to 'prematurely declare victory' in the battle against COVID-19, says Fauci
(DBN)

Don't worry about coronavirus variants overpowering vaccines, experts say
(DBN)

Dominant U.S. Variant Not as Deadly as Feared, Study Finds
(DBN)

____________


Economy:

Consumer prices rise more than expected, pushed by 9.1% jump in gasoline BLS: CPI increased 0.6% in March, Core CPI increased 0.3% Consumer prices jump 0.6% in March, biggest gain since 2012 Cleveland Fed: Key Measures Show Small Uptick in Inflation in March How Not to Get Fooled by the New Inflation Numbers U.S. consumer prices post biggest gain in 8-1/2 years as economy reopens Inflation Accelerated in March Due to Strengthening Economy
(DBN)

Practically everything is getting more expensive in America
(DBN)

Fed Is More Worried by Inflation Running Too Cold Than Too Hot
(DBN)

Jerome Powell risks Alan Greenspan's fate
(DBN)

Poll: 15% of Americans worse off a year into pandemic
(DBN)

Corporate earnings growth could hit a decade-high despite COVID-19 pandemic
(DBN)

Small businesses grow more optimistic after states lift restrictions — but hiring is a big problem
(DBN)

Times Square crowds show NYC returning to life
(DBN)

Five hurdles Democrats face to pass an infrastructure bill Biden's infrastructure plan heads for the Senate shredder
(DBN)

CEOs say the Trump tax cut created the best economy ever. The data disagrees.
(DBN)

The White House may not pay for all of Biden's infrastructure plan with a tax increase
(DBN)

Biden outreach on infrastructure met with Republican skepticism
(DBN)

Grocery workers died feeding the nation. Now, their families are left to pick up the pieces.
(DBN)

US intelligence community warns of devastating long-term impact of coronavirus pandemic
(DBN)

IRS chief says some $1T in taxes going uncollected annually
(DBN)

Biden wants to go after the wealthy on taxes with a $1.2 billion increase in IRS funding
(DBN)

Biden gets positive GOP reviews after infrastructure meeting, a hard no on corporate tax hike
(DBN)

White House Fights GOP’s Tax Attack With Small-Business Outreach
(DBN)

COVID-19 vaccinations are accelerating, forcing CEOs to plot a return to the office sooner than expected. ‘Yes, you can ask for proof’
(DBN)

How big is the racial inequality gap in the U.S. and Britain?
(DBN)

NYC Toll Traffic at Seven-Year High as Americans Return to Road
(DBN)

Americas best work-from-home expert is bracing for turmoil
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

Much Obliged: Massachusetts Lenders Shouldn’t Have to Lose It Over Lost Notes
(DBN)

Billions in Coronavirus Aid Is Slow to Reach Renters and Landlords
(DBN)

‘When is the housing market going to crash?’ is a hot Google search – here’s why
(DBN)

Why millions of prospective borrowers are stuck in ‘no man’s land’
(DBN)

Maryland Real Estate in March: Sales Up 11% YoY, Inventory Down 67% YoY
(DBN)

Lumber Frenzy Drives Up Home Prices as Suppliers Can’t Keep Up Lumber prices hit a record high after soaring more than 250% in the past year
(DBN)

That Suburban Home Buyer Could Be a Foreign Government
(DBN)

N.Y. Democrats Demand SALT Break Restoration in Recovery Bills
(DBN)

____________

Municipalities:

Puerto Rico’s GNP Expected to Contract by -0.9 Percent in 2021
(DBN)

Insurers resolve major obstacle for central Puerto Rico debt deal
(DBN)

____________

Oil/Gas:

Texas oil pipelines face dry months as production languishes
(DBN)

OPEC Sees Oil Demand Boosted by Stimulus and Vaccine Programs
(DBN)

Oil maintains upward momentum despite fresh coronavirus fears
(DBN)

Permian Oil Output Reflects Economic Recovery
(DBN)

____________

Religion:

Overdue reckoning at hand for archdiocese
(DBN)

Pope asks US bishop to resign after cover-up investigation
(DBN)

____________

Cruise Lines:

A Royal Caribbean-owned cruise line just announced a vaccine requirement. These are all the cruise lines that will require COVID-19 vaccinations for guests and crew.
(DBN)

____________

Autos:

GM shortens expected downtime at Tennessee plant as chip supply improves
(DBN)

Renault Plan To Partially Idle Spanish Plants Till September Over Chip Crisis: Reuters
(DBN)

Rubber Scarcity Creates New Headache for Beleaguered Automakers
(DBN)

U.S. Investigating Air Bags Made by Takata Successor Joyson
(DBN)

____________

Hedge Funds:

Archegos Ripples Through Banks’ Lucrative Hedge Fund Business
(DBN)

Archegos Left a Sparse Paper Trail for a $10 Billion Firm
(DBN)

Nomura tightens hedge fund financing after Archegos collapse
(DBN)

ECB Seeks Details on Banks’ Hedge Fund Risks After Archegos
(DBN)

Credit Suisse Cut Bonus Accruals to Limit Archegos Hit, FT Says
(DBN)

Credit Suisse Is Offering Blocks of Archegos-Linked Stocks
(DBN)

Credit Suisse slides 2% as Archegos-related stock unwind continues
(DBN)

____________

Climate:

Hundreds of executives call on Biden to slash emissions to curb climate change Business leaders urge Biden to set ambitious climate goal
(DBN)

Texas Froze and California Burned. To Insurers, They Look Similar.
(DBN)

A Green Grid by 2035? New Report Says We’re Halfway There
(DBN)

Melting Ice Shelves Show Razor-Thin Risk Margins on Warmer Earth
(DBN)

Big Companies Line Up to Crush Green Transparency Resolutions
(DBN)

Scientific American Changes Climate Change to Climate Emergency
(DBN)

Alaska Glacier Moving 100 Times Faster
(DBN)

____________

Student Debt:

Key Moments From Elizabeth Warren’s Blockbuster Hearing On Student Loans
(DBN)

____________

Education:

Morris Brown College nears reaccreditation after 20 years
(DBN)

California teacher put on administrative leave over Zoom rants
(DBN)

Oklahoma teacher calls student the N-word during bizarre altercation -- and it's caught on video
(DBN)

Civil Rights Attorney Calls Out Online 'Slave Trade' Where Texas Students ‘Sold’ Black Classmates
(DBN)

____________

Rail:

Bankruptcy sale of San Luis & Rio Grande begins
(DBN)

____________

Pensions:

The Pension Benefit Guaranty Corporation’s Claim Calculation Method in Bankruptcy: ERISA’s Valuation Regulation, Or the Prudent-investor Standard?
(DBN)

____________

Mass Torts:

Boy Scouts, Pressured to End Bankruptcy, Explore Leaving Local Councils Behind
(DBN)

____________

Coal:

Coal Plant Closures Cut More EU Emissions Than The Pandemic
(DBN)

____________

Banking:

Charles Schwab Tries, Probably Fails To Make Citi Feel Better About That Whole Accidentally Sending People Too Much Money Thing
(DBN)

____________

Food/Beverage:

Second Golden Corral Franchisee Declares Bankruptcy
(DBN)

____________

Utilities:

Texas power provider asks residents to conserve energy despite typical spring conditions
(DBN)

____________

Crypto:

Bankruptcy Court Weighs in on How to Value Bitcoins
(DBN)

Bitcoin Power Consumption Jumped 66-Fold Since 2015, Citi Says
(DBN)

Coinbase listing marks latest step in crypto's march to the mainstream
(DBN)

____________

Cannabis:

Advocates, Democrats plan to push major pot reform
(DBN)

____________

 


New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (4 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:

Easy Money Mutes Distress
(DBN)

______________

Professional Compensation:

Bankruptcy During the COVID-19 Pandemic: An Argument for Uniformity with Respect to the Reimbursement of Professional Fees and Expenses
(DBN)

____________

Corporate Governance:

My Creditor’s Keeper: Escalation of Commitment and Custodial Fiduciary Duties in the Vicinity of Insolvency
(DBN)

____________

ADR:

The ADR Spectrum: Subchapter V Adds A New / Unique ADR Role
(DBN)

____________

Automatic Stay:

When the Automatic Stay is No Shield – Pennsylvania Court Holds that Government’s Unfair Labor Claims Are Subject to Police Power Exception
(DBN)

____________

Contracts:

Frustration of Purpose and Impossibility Doctrines in the COVID-19 Era
(DBN)

____________

Aviation:

Boeing’s sales again outpace cancellations, jetliner deliveries pick up Boeing’s 737 Max Comeback Fuels Rare Sales Win Over Airbus
(DBN)

American Airlines stock falls after first-quarter loss, revenue update
(DBN)

American defers 37 Boeing deliveries as long as three years
(DBN)

Global Air Travel Is Stuck Way Behind 2019 Levels
(DBN)

Airline, travel stocks slip after U.S. recommends pause in J&J Covid vaccine
(DBN)

Airlines could use new EU COVID pass this summer: official
(DBN)

Fake Covid-19 Certificates Hit Airlines, Which Now Have To Police Them
(WSJ)

Hong Kong Wants Only Vaccinated Travelers for Singapore Bubble
(DBN)

France Short-Haul Flight Ban Points Way Toward Cleaner Aviation
(DBN)

Norwegian Air to raise additional cash before bankruptcy exit Timeline: Norwegian Air's rise and battle for survival
(DBN)

Trudeau Agrees to Air Canada Aid Package, Media Reports Say Major Air Canada holder endorses bailout and sees 50% upside
(DBN)

Vaccine progress should allow Britain-U. S. reopening - BA boss
(DBN)

Ryanair Loses Three More EU Court Fights Over Covid Bailouts
(DBN)

EasyJet Hangs on to Summer-Revival Hopes as Vaccinations Stutter EasyJet sees Europe open for travel from late May
(DBN)

____________

Maritime:

Egypt Seizes Ship for Blocking Suez Canal, Demands $900m Compensation Companies that have containers on the Ever Given could have to help pay the up to $1 billion Egyptian authorities are demanding before the ship leaves the Suez Canal
(DBN)

____________

UK:

Lockdown easing: Everything you can now do in England as rules change
(DBN)

COVID cases are now rising in 34 areas of the UK
(DBN)

Shoppers stay wary as stores finally reopen
(DBN)

U.K. Says Bailout of Gupta’s GFG Would Be ‘Very Irresponsible’
(DBN)

Liberty Steel: Kwarteng defends rejecting request for £170m bailout
(DBN)

High noon for former Tory treasurer in bankruptcy battle
(DBN)

Katie Price owes creditors a staggering £3.2 million after going bankrupt reveal new documents
(DBN)

U.K. Businesses Burn Cash as Brexit Bureaucracy Takes Its Toll
(DBN)

Young black and Asian workers have been hardest hit by rise in unemployment
(DBN)

____________

EU:

Worry Over 2 Covid Vaccines Deals Fresh Blow to Europe’s Inoculation Push
(DBN)

Eurostar crisis 'can and will lead to bankruptcy' for companies in EU
(DBN)

COVID-19 and the state of the European NPL market
(DBN)

____________

PIIGS:

Leading Restructuring Partner to Join Latham & Watkins in Spain
(DBN)

Greeks vent frustration as country pushes ahead with plan to open up for tourists in May while ICUs struggle
(DBN)

Italy reports 476 coronavirus deaths on Tuesday, 13,447 new cases
(DBN)

Italy Plans to Add Up to 45 Billion Euros to Deficit Spending
(DBN)

Italy’s Hotels and Restaurants Brace for Another Bad Year
(DBN)

____________

Canada:

Laurentian University slashes programs and jobs, trying to avoid bankruptcy
(DBN)

Canada Ranks No. 1 in 2021 U.S. News Best Countries Ranking
(DBN)

Canada overtakes U.S. in daily COVID cases for first time
(DBN)

____________

India:

IBC And Limitation: The Dust Settles
(DBN)

India reels amid virus surge, affecting world vaccine supply
(DBN)

Indian City With Over 100K COVID Patients Has Only 28 Unused Ventilators As Cases Rise
(DBN)

India’s Richest State Tightens Curbs as Virus Cripples Hospitals
(DBN)

Bodies Pile Up at India Crematoriums Overwhelmed by Virus Surge
(DBN)

Deserted Streets Raise Alarm Over India’s Fuel Demand Recovery
(DBN)

____________

Sweden:

Sweden's COVID infections among highest in Europe, with 'no sign of decrease'
(DBN)

____________

France:

France reports 5,952 people in intensive care units for Covid-19
(DBN)

____________

Germany:

Merkel’s Cabinet to Pass Lockdown Law to Tackle Surge in Cases
(DBN)

____________

Australia:

Early Decisions Favor Restructuring Appointment
(DBN)

Australia Recovery Strengthens as Business Conditions Hit Record
(DBN)

Australia Households to Spur Growth as Sentiment at 11-Year High
(DBN)

____________

MENA:

Israel Will Open Borders to Vaccinated Tourist Groups Next Month
(DBN)

____________

Venezuela:

In Venezuela Bond Market, Gunmen and Bags of Cash Are Required
(DBN)

Venezuela Politicizes Access to Vaccines Via State Loyalty Card
(DBN)

____________

Denmark:

Denmark to Gradually Reopen Borders for Some Countries in May
(DBN)

____________

China:

China Pulls Support From Struggling Local Builders to Cut Risk
(DBN)

Red lights flashing in China as Huarong plunge stokes market contagion fears
(DBN)

China Blasts U.S. Handling of Virus Pandemic as ‘Total Failure’
(DBN)

____________

India:

Spectrum can be subjected to insolvency/liquidation; trading subject to payment of past dues: NCLAT NCLAT says lenders cannot treat telcos' spectrum as 'security interest' under insolvency proceedings
(DBN)

Pre-Packaged Insolvency for MSMES
(DBN)

Insolvency and Bankruptcy Board of India sets up online platforms amid Covid curbs
(DBN)

____________

Russia:

Russia masses troops near Ukraine border, sending shivers of unease through the West
(DBN)

Climate Change May Be Costing Russia Billions Every Year
(DBN)

___________


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