February 25, 2021

The Daily Bankruptcy News

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Law:

For Now, Few Firms Are Committing to Mandatory COVID Vaccination
(DBN)

Why So Many Big Firms Had More Nonequity Partners in 2020
(DBN)

Thanks to COVID, the Trend Toward Smaller Law Firm Office Space Has Been 'Accelerated by Almost a Decade
(DBN)

Business Is Booming, but Dan Petrocelli Is Desperate to Be Back in Court
(DBN)

NY Judge Slams Atty's 'Frivolous' Involuntary Servitude Claim
(DBN)

Ridiculousness Knows No Limits
(DBN)

FBI, DHS and Pentagon officials to testify on Capitol riot
(DBN)

Springsteen fined $540 for drinking tequila in national park; DUI dropped
(DBN)

NYPD deploys robot police dog
(DBN)

Berkeley adopts sweeping police reforms including taking cops off routine traffic stops
(DBN)

Supreme Court weighs police power to conduct warrantless searches
(DBN)

How a new lawsuit against the MyPillow guy could change political discourse
(DBN)

Trump's pardon of Lil' Wayne said to be the breaking point for QAnon Shaman in new court documents filled with bizarre anecdotes
(DBN)

Capitol Police head describes agency unprepared for mass attacks
(DBN)

McConnell Doesn't Want Serious Probe of Riot
(DBN)

Bill would strip pension for president convicted of felony
(DBN)

Donald Trump Jr. deposed in DC attorney general probe of 2017 inauguration funds
(DBN)

Dominion, Smartmatic cases against Trump backers are credible, experts say
(DBN)

Three jailed for helping ex-Nissan CEO Carlos Ghosn escape to Lebanon
(DBN)

Biden’s controversial decision to reopen temporary shelters for migrant children, explained More than 700 migrant children in Border Patrol custody: report Parents Found for 105 Separated Children
(DBN)

Oklahoma man confesses to killing neighbor and cooking heart 'with potatoes'
(DBN)

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Judges:

Meet Judge Julie Manning
(DBN)

'An Erosion of Trust': Describing a Widespread Crisis, Federal Judges Push Congress to Expand Their Courts
(DBN)

Judiciary Seeks 2022 Funding, Cites Caseload Resurgence and Security Needs
(DBN)

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Wall Street:

U.S. stock futures are under some pressure following Dow’s record close
(DBN)

S&P 500, Dow close higher in late session turnaround Dow jumps 420 points to a record close in another intraday reversal, recovery plays lead rally
(DBN)

Rising bond yields continue to sap appeal of stocks
(DBN)

World stocks' dance to continue, but inflation could mute the music: Reuters poll
(DBN)

S&P 500 to gain 6% in rest of 2021: Reuters poll
(DBN)

Munger Warns on Stock Market Again
(DBN)

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Layoffs:

Over 200 people to be permanently laid off by Aramark in Maplewood and Cottage Grove
(DBN)

British supermarket group Asda says 5,000 jobs at risk in restructuring
(DBN)

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Healthcare:

If sale to Concord Hospital is rejected, Franklin and Laconia hospitals could close by summer
(DBN)

Here are the states with the best — and worst — vaccination track records
(DBN)

San Francisco cuts off COVID vaccine doses to One Medical for vaccinating ineligible patients: report
(DBN)

Experts say the US has turned a major corner in its coronavirus outbreak, with cases at their lowest point in 4 months
(DBN)

US hits game-changing moment in COVID-19 fight
(DBN)

Dr. Fauci says new data suggests ‘long’ Covid symptoms can last up to 9 months
(DBN)

New coronavirus variant spreading in New York City
(DBN)

Dr. Fauci Starts Controversy With New Masks Comment
(DBN)

FDA says single-dose shot from J&J prevents severe COVID White House to ship 3 million to 4 million doses of Johnson & Johnson vaccine to states
(DBN)

Moderna to begin clinical trials of Covid booster shots for South Africa variant
(DBN)

2 hard-hit cities, 2 diverging fates in vaccine rollout
(DBN)

One simple chart shows how well J&J's single-dose coronavirus vaccine works, with protection starting after 2 weeks
(DBN)

White House will send more than 25 million free COVID-19 masks to Americans across the country
(DBN)

Poll: Biden's support on handling the coronavirus slips 5 percentage points since entering the White House
(DBN)

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Retailing:

Fry's Electronics suddenly went out of business Fry’s Electronics, a favorite of tech enthusiasts, will cease operations.
(DBN)

Belk files for bankruptcy, pledges no layoffs or store closings Belk files for bankruptcy, eyes lightning-fast exit
(DBN)

Belk bankruptcy plan gains judge's approval Belk OK'd to exit bankruptcy less than 24 hours after it filed Belk to Cut $450 Million of Debt With Record-Breaking Speed
(DBN)

Century 21 Coming Back To NYC After Bankruptcy
(DBN)

T.J. Maxx parent misses estimates as lockdowns cut sales by $1 billion
(DBN)

Lowe's backs 2021 slowdown forecast after riding home improvement boom
(DBN)

U.S. retail sales in 2021 expected to jump on vaccine, stimulus in positive sign for economy - NRF
(DBN)

Equinox Hit With $1M in Lawsuits for Unpaid Rent at NYC Locations
(DBN)

The retail comeback we didn't see coming
(DBN)

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Celebs:

Judge Judy Has A Bruising Day In Court Over $22M Profits Battle, But It Ain’t Over
(DBN)

Lucky to be alive, Woods faces difficult recovery Tiger Woods ‘may never get mobility back’ and narrowly avoided his leg being amputated after crash, doc says Tiger Woods won't face charges after sheriff says car crash was an accident
(DBN)

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Non-Profits:

NRA sues NY attorney general, says she wants to destroy her 'political enemy' NRA accuses New York attorney general of 'weaponizing' power in new lawsuit
(DBN)

NRA judge rejects bid to revamp creditor committee, reiterates plea for civility
(DBN)

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Food/Beverage:

Economic pain from pandemic upends the lives of restaurant owners, entertainers
(DBN)

Ruby Tuesday emerges from Chapter 11 bankruptcy
(DBN)

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Mail:

U.S. mail delivery still facing 'unacceptable delays', group of senators says
(DBN)

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Mass Torts:

After infighting, Colorado lawmakers revive effort to give child sex assault survivors unlimited time to sue abusers
(DBN)

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Fitness:

C.D.C. Traces Covid Outbreaks in Gyms, Urging Stricter Precautions
(DBN)

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Cruise Lines:

Norwegian Cruises reports wider than expected loss again, but revenue beat forecasts
(DBN)

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Economy:

Federal Reserve warns of bankruptcy risks
(DBN)

Economists are scared to tell you the good news about the US economy
(DBN)

Poll: Overwhelming majority say unemployment is a problem
(DBN)

Deutsche Bank upgrades U.S. GDP forecast on stimulus push
(DBN)

Poll: 61% of likely voters support Democrats’ gradual minimum wage hike
(DBN)

Richest 1% in World: How Much Net Worth to Join Ranks of Wealthiest
(DBN)

The Pandemic Has Been a Windfall for Billionaires
(DBN)

States pass their own virus aid, not waiting on Washington
(DBN)

U.S. House plans vote on COVID-19 aid bill on Friday
(DBN)

A not-so-stimulative stimulus bill
(DBN)

Democrats hesitant to raise taxes amid pandemic
(DBN)

Senate Democrats make final pitch for including minimum wage hike in coronavirus bill
(DBN)

Sen. John Thune, Opposing $15 Min Wage, Says He Earned $6 As a Kid—That's $24 With Inflation
(DBN)

Pushback intensifies over $350 billion federal aid to state and local governments
(DBN)

Goldman and Blackstone CEOs join chorus of support for US stimulus
(DBN)

Bank of America says participation in federal stimulus programs led to losses
(DBN)

McDonald’s Secretive Intel Team Spies on ‘Fight for $15’ Workers
(DBN)

How raising minimum wage to $15/hour could affect workers and small businesses
(DBN)

1 in 6 Gen Z adults are LGBT. And this number could continue to grow.
(DBN)

Leftist political parties abandoned the working class for globalization
(DBN)

The economic trends that will create post-pandemic policy challenges
(DBN)

Economist makes the case for federal jobs guarantee
(DBN)

Biden to press for $37 billion to boost chip manufacturing amid shortfall
(DBN)

Many child-care workers aren’t even earning a living wage, even before pandemic
(DBN)

Virtual work parties: the good, the bad and the plain peculiar
(DBN)

JPMorgan pledges $350 million to minority owned businesses
(DBN)

Goldman Sachs CEO: Working from home is an 'aberration'
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

New home sales jump 4.3% in January, vs. 0.9% expected New Home Sales increase to 923,000 Annual Rate in January A few Comments on January New Home Sales Even with high lumber prices, new home sales beat
(DBN)

Red-hot housing market lifts even struggling metros
(DBN)

Mortgage Application Volume Continues Decline MBA: Mortgage Applications Decrease in Latest Weekly Survey
(DBN)

AIA: "Architecture Billings continue to contract" in January
(DBN)

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

Housing market concerns begin to emerge
(DBN)

StanChart likely to cut a third of office space in next 3-4 years
(DBN)

Biden administration may undo certain Trump-era mortgage rules
(DBN)

Suburban Chicago senior living facility nears bankruptcy exit
(DBN)

The Dispossession of André Leon Talley
(DBN)

Lender takes control of struggling Southland Mall in Cutler Bay
(DBN)

Best and Worst States to Live In
(DBN)

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Municipalities:

Puerto Rico Bondholders Cheer Deal Paving Way to End Bankruptcy
(DBN)

Two Puerto Ricos on Display in Newest Bond Deal
(DBN)

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Oil/Gas:

Fossil Fuel Execs Gloated About Storm Pricing
(DBN)

Haaland on drilling lease moratorium: 'It's not going to be a permanent thing'
(DBN)

HollyFrontier posts bigger-than-expected loss on weak demand
(DBN)

Exxon Mobil's total reserves drop by a third after COVID-19 oil price drop
(DBN)

Who will clean up the 'billion-dollar mess' of abandoned US oilwells?
(DBN)

Like It or Not Electric Cars are the Future
(DBN)

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Autos:

General Motors says worst of global chip shortage may be behind it
(DBN)

Semiconductor chip famine undermines automakers and economy security
(DBN)

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Politics:

Six ways to visualize a divided America
(DBN)

QAnon believers think Trump will be inaugurated again on March 4
(DBN)

Angry Democrat Gerry Connolly tells Trump ally he ‘will not be lectured’ by someone who tried to overturn election
(DBN)

Mitt Romney Delivers Ominous Trump 2024 Prediction For The Republican Party
(DBN)

Senate GOP works to avoid having '22 war with Trump
(DBN)

GOP leaders clash over Trump presence at CPAC
(DBN)

Republican leaders want to avoid a party civil war. Trump might have other ideas.
(DBN)

Tucker Carlson Suggests QAnon Doesn't Exist Because He Can't Find Its Website
(DBN)

The Future of QAnon
(DBN)

Democratic fury with GOP explodes in House
(DBN)

Evangelical leaders launch nationwide push against extremism
(DBN)

Biden leans into empathizer-in-chief role
(DBN)

Manchin flexes muscle in 50-50 Senate
(DBN)

Manchin will back Haaland's confirmation
(DBN)

Murkowski undecided on Tanden as nomination in limbo
(DBN)

Former Cuomo aide says governor kissed her without consent
(DBN)

Biden reverses Trump actions on visas, architecture, cities
(DBN)

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Climate:

3 popular policies Democrats can use to fight climate change and boost the economy
(DBN)

Business groups rally around green infrastructure plans
(DBN)

Climate Change and Risk to Your Home
(DBN)

Atlantic Ocean major currents at risk of collapse
(DBN)

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Forest Products:

Lumber Prices Are Soaring. Why Are Tree Growers Miserable?
(DBN)

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Coal:

Bankrupt Blackjewel must handle cleanup at Kentucky coal mine, judge rules
(DBN)

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Education:

Georgia teachers to be next in line in state for coronavirus vaccine
(DBN)

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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 (12 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (22 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)

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Bankruptcy Statistics:

BK MN: Updates Case Filing Statistics
(DBN)

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Advisors:

McKinsey leader voted out in wake of opioid settlement: report No easy path ahead for McKinsey’s next leader
(DBN)

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Involuntary Bankruptcy:

Navient Solutions & The High Bar to Involuntary Bankruptcy Petitions
(DBN)

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D&O:

Breach of Fiduciary Duty Claim Not a “Securities Claim” Under D&O Policy
(DBN)

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Mootness:

Courts Continue To Recognize Equitable Mootness, But Discomfort With Important Confirmation Issues Escaping Review Grows
(DBN)

Second Circuit Reaffirms Its Preference for Equitable Mootness
(DBN)

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Aviation:

Global business jet deliveries decline 20% in 2020 due to COVID-19
(DBN)

IATA plans digital travel pass to steer airlines towards recovery Global airline body IATA plans COVID travel pass for end of March
(DBN)

I flew Southwest for the first time since it stopped blocking middle seats. The friendly service didn't make up for inconsistent social-distancing practices.
(DBN)

United 777 plane flew fewer than half the flights allowed between checks: sources South Korea grounds all local airlines' Boeing 777s with PW4000 engines
(DBN)

U.S. audit report cites 'weaknesses' in FAA certification of Boeing 737 MAX
(DBN)

U.S. lawmakers urge FAA to submit delayed airline engine safety report to Congress
(DBN)

With no takers for debt-ridden airline, Modi govt mulling sale of Air India’s profit-making subsidiaries
(DBN)

Thai Airways posts record US$4.7b loss as debt revamp looms
(DBN)

With no takers for debt-ridden airline, Modi govt mulling sale of Air India’s profit-making subsidiaries
(DBN)

Malaysia's AirAsia Group delays releasing earnings to end-March
(DBN)

Norwegian Air says Boeing not engaging with Irish restructuring process Norwegian Air and Airbus agree terms to end jet deliveries, court is told
(DBN)

Who Are the Losers in the HNA Bankruptcy?
(DBN)

Czech Airlines Might Lay Off Their Entire Workforce Of 430 Employees
(DBN)

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Utilities:

Texas's deregulated electricity market raised consumer costs by $28B
(DBN)

Texas Was 4 Minutes and 37 Seconds From Total Disaster
(DBN)

'Never Seen Anything Like This': Texas Winter Storm Could Produce More Litigation, Insurance Claims Than Hurricanes
(DBN)

Texas' $50 Billion Winter Storm Energy Bill
(DBN)

We Could be Paying Off Storm for Decades
(DBN)

TX Lt. Guv On Shocking Bills: Should Have Read Your Contract
(DBN)

ERCOT defends role in crisis as investigations launch
(DBN)

3 million Texans boil water amid 'plumbing catastrophe,' food shortages after devastating storm
(DBN)

One of Texas' most prominent left-leaning economists knows exactly why it's power grid failed
(DBN)

PG&E wildfire victims sue former management for neglect Fire Victim Trust Sues Former PG&E Executives and Directors
(DBN)

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Nursing Homes:

New York assemblyman: 'Follow the money' on Cuomo and nursing home industry
(DBN)

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Crypto:

NY shuts cryptocurrency exchanges which hid losses
(DBN)

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Agribusiness:

Rise in Farm Bankruptcy
(DBN)

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Fraud:

Bannon investigation gains steam as Manhattan prosecutors subpoena financial records
(DBN)

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Insurance:

Munich Re 2020 profit plunges 55% as pandemic takes toll
(DBN)

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Hotels:

Marriott CEO says leisure travel will rebound as vaccines roll out
(DBN)

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UK:

How does an English administrator obtain recognition of their appointment in an EU member state?
(DBN)

Richer than the big apple: London overtakes New York as home to the most 'dollar millionaires'
(DBN)

Metro Bank loss widens as pandemic provisions soar
(DBN)

MPs' fury as ministers dodge cladding vote Boris Johnson warned leaseholders will not 'forgive' huge bills to fix cladding Commons defeat leaves flat owners facing huge bills to fix cladding
(DBN)

UK's Sunak to build bridge to recovery with more spending
(DBN)

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EU:

‘Zombie’ Firms Kept Alive by Covid-19 Bailouts, EU Official Says
(DBN)

Travel restrictions have no end in sight as European leaders worry about new variants
(DBN)

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PIIGS:

Bankruptcy official eyes up developer Sean Dunne’s €700,000 pension
(DBN)

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MENA:

Israel adopts law allowing names of unvaccinated to be shared Doles out jabs as diplomatic perks
(DBN)

How the Pandemic Nearly Tore Israel Apart
(DBN)

Biden to speak with Saudi king 'soon' as pressure builds for Khashoggi report 'Top Secret' Saudi docs show Khashoggi assassins used company seized by crown prince
(DBN)

S&P downgrades Qatari developer Ezdan on higher default risk
(DBN)

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Sweden:

Sweden Steps Up Covid Restrictions
(DBN)

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India:

Insolvency Law In Review – January 2021
(DBN)

The Supreme Court Blackballed Ex-related Parties from the Committee of Creditors
(DBN)

IBA compiling list of bad loans for bad bank proposed in Budget: Report
(DBN)

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Germany:

Head of German accounting watchdog to step down in wake of Wirecard
(DBN)

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