June 4, 2021

The Daily Bankruptcy News

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Law:

Biglaw Firms Forced To Raise Salaries, Deliver Huge Bonuses Due To Hot Lateral Market Lawyers Get $164,000 Bonuses to Keep Working 100 Hours a Week
(DBN)

Cooley Recruits Texas Lawyers, Dangling Fully Remote Job Offers
(DBN)

'Staff Are People Too': All Stroock Employees Can Work Hybrid, Including Secretaries
(DBN)

Eversheds Sutherland swings to 40-60% homeworking
(DBN)

New Milestone For Virtual Biglaw
(DBN)

Online bar exams axed by NCBE beginning next year
(DBN)

Elizabeth Holmes Emails With Boies Are Fair Game for Trial
(DBN)

Texas Becomes Last State to Drop Law Firm Trade Name Ban
(DBN)

Stanford lifts graduation hold on law student who made satirical flyer for fake Federalist Society event Stanford Law School Student's Graduation Was Put In Jeopardy Because FedSoc Can't Take A Joke
(DBN)

Harvard Law School Students Forced To Give 90% Of Summer Job Money Straight To School
(DBN)

When 'That’s the Way We’ve Always Done It' Doesn’t Cut It Any More
(DBN)

How I Learned To Love Being A Lawyer
(DBN)

The Language Of In-House
(DBN)

Attorney F. Lee Bailey Dies at 87
(DBN)

Chemsex lawyer escapes disbarment
(DBN)

Manafort Leaker to Get Six Months in Jail, Judge Says
(DBN)

Business must take action to counter ransomware threat, White House warns in memo
(DBN)

Minneapolis clears out George Floyd Square to reopen intersection more than a year after Floyd's death
(DBN)

An undercount of Latinos killed by police
(DBN)

Idaho Deputy Under Investigation for Tasing 78-Year-Old Man Who Was Left Bloody Following Arrest
(DBN)

The false promises of more immigration enforcement
(DBN)

Fivefold Surge in Migrants en Route to U.S. Overwhelms Panama
(DBN)

Kodak's CEO engaged in insider trading when he purchased stock in the company while negotiating with the White House for a $655 million loan, NY AG says
(DBN)

Trump Campaign Sued by Teacher Arrested at 2020 Tulsa Rally
(DBN)

FBI Investigating U.S. Postmaster DeJoy Over Campaign Donations
(DBN)

Hobby Lobby Sues Oxford Professor for $7 Million Over Stolen Papyrus the Company Purchased for Its Bible Museum
(DBN)

House Panel Probing $700 Million Covid Aid Loan to Trucking Firm
(DBN)

An 11-year-old trans girl was barred from her school's cross-country team. She's suing.
(DBN)

Capitol riot defendant once brutally attacked pregnant girlfriend: 'I was afraid he was going to kill me' Feds Finally Identify Oath Keepers Defendant as Former Firefighter Who Had 'ALL the Necessary 2A Gear' for Jan. 6 The Capitol Rioters Won
(DBN)

Alabama Congressman Mo Brooks Beats Chest For MAGA Rioters, Cowers In Fear Of Process Server
(DBN)

Biden opposes appointing a presidential commission for Jan. 6 himself
(DBN)

A 9-Year-Old Utah Girl and Her 4-Year-Old Sister Wanted to 'Swim in the Ocean,' So They Grabbed Their Parents' Car Keys and Drove. They Made It 10 Miles Before Crashing.
(DBN)

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Judges:

Then & Now: Rucker ‘at home’ as new federal bankruptcy judge
(DBN)

Chemerinsky: Precedent seems to matter little in the Roberts Court
(DBN)

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Wall Street:

Stock futures are little changed ahead of May’s jobs report
(DBN)

Meme stocks whipsaw as AMC share sale ends massive Reddit-fueled rally AMC tanks more than 30%, trading suspended, as meme stock frenzy prompts share sale and a warning AMC and Express Inc. Usher Golden Age for Retail-Focused Stock Sales ‘Don’t Be That Sucker:’ Traders Warn Against Joining AMC Rally AMC wants to sell 25 million more shares, CEO uses YouTube interview to lay out his case
(DBN)

Bed Bath & Beyond, Koss Drop as Meme Stock Rally Begins to Fade
(DBN)

Express sinks 25% as the retailer follows fellow Reddit favorite AMC in announcing new share sale
(DBN)

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Autos:

May Vehicles Sales decreased to 16.99 Million SAAR
(DBN)

Automakers Have Just a Few Weeks of Car Supply Left on U.S. Lots
(DBN)

GM Lifts Forecast as Chip Shortages Ease
(DBN)

Tesla's global market share fell to its lowest level in over 2 years as electric car competition heats up
(DBN)

Tesla is going to zero. Or is it?
(DBN)

Tesla China Sales in Free Fall
(DBN)

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Student Debt:

Reforming Student Loan Bankruptcy Procedure
(DBN)

The Student Loan Problem — A Solution: Stop Making Bad Loans!
(DBN)

DC adds to the growing number of major cities calling on Biden to cancel student debt
(DBN)

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Movie Theaters:

How Alamo Drafthouse Battled Back From Bankruptcy
(DBN)

AMC stock slides 34% as Reddit favorite plans to sell nearly 12 million shares AMC tells investors to prepare to lose all their money if they buy the stock amid its epic rally
(DBN)

Ready to head back to the movies? Here's what you need to know
(DBN)

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Credit Reporting:

Experian could face the brunt of Biden's credit score overhaul plan - research
(DBN)

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Healthcare:

Texas hospital files for bankruptcy
(DBN)

Tulare hospital district keeps state from staking $5.6m claim in bankruptcy court
(DBN)

U.S. daily case counts below 20,000, country averaging 1.1 million shots per day COVID-19 cases hit lowest point in U.S. since pandemic began
(DBN)

Global Covid Shots Reach 2 Billion in Race to Tame Pandemic
(DBN)

California mandated masks. Florida opened its restaurants. Did any of it matter?
(DBN)

Prayer Is Preferred to Covid Vaccine in Namibia, Survey Shows
(DBN)

White House selects destinations for first wave of vaccine donations Biden says U.S. to send 25 mln COVID-19 vaccines around the world
(DBN)

Survey: Some hospital workers are still refusing to get vaccinated
(DBN)

Ex-CDC director says he received death threats after backing lab-leak theory
(DBN)

State Officials Warned Not to Pursue Covid Origin Investigation
(DBN)

Fauci: We need to keep an 'open mind' about the lab-leak theory of the coronavirus pandemic's origins
(DBN)

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Economy:

ISM® Services Index Increased to Record High 64.0% in May U.S. Service Industries Gauge Climbed to Record High in May
(DBN)

Weekly Initial Unemployment Claims decrease to 385,000 Jobless claims below 400,000 for the first time since March 2020
(DBN)

ADP: Private Employment increased 978,000 in May Companies hired nearly a million new workers in May, ADP says Payrolls at U.S. Firms Rise Most in Nearly a Year, ADP Data Show
(DBN)

Job Openings at U.S. Small Businesses Increase to Fresh Record
(DBN)

The Economic Data Is Already Starting to Beat Expectations Again
(DBN)

NY Fed says it will begin to sell corporate bond ETFs on June 7
(DBN)

Food price spike looks like recipe for trouble
(DBN)

US productivity growth unrevised at 5.4% rate in Q1
(DBN)

Early Retirement Surge Exacerbates U.S. Baby Boomer Inequalities
(DBN)

Biden privately called Lawrence Summers, a critic of White House agenda, to discuss economy
(DBN)

Ending federal unemployment benefits early will costs states billions America’s cruel unemployment experiment Half of all US states are scrapping stimulus-era jobless benefits, cutting off 4 million workers from federal aid
(DBN)

Pandemics have long created labor shortages. Here's why.
(DBN)

Apple employees to return to the office three days a week in September
(DBN)

Wall Street’s Intern Return Marks Start of Back-to-Office Summer
(DBN)

Deutsche Bank Targets Staged Return of U.K. Staff From June 21
(DBN)

White House urges businesses to step up ransomware defenses White House Tells Execs to ‘Immediately’ Review Ransomware Plans
(DBN)

Guaranteed income is graduating from charity to public policy
(DBN)

Billionaires are racing to sidestep President Biden’s plan to raise their taxes
(DBN)

The declining American birth rate is unlikely to bounce back, new study says
(DBN)

Goldman Sachs expecting increase in corporate mergers -executive
(DBN)

Biden proposes 15% corporate minimum tax, $1 trillion new infrastructure spending
(DBN)

Biden's Infrastructure Compromises
(DBN)

Biden offers to drop corporate tax hike proposal -source Biden offers tax deal to Republicans in infrastructure talks
(DBN)

Clyburn Says Clock Is Ticking on Bipartisan Infrastructure Talks
(DBN)

Biden to Blacklist 59 Chinese Companies in Amended Trump Order Biden administration expands Trump-era order by banning U.S. investment in Chinese companies tied to the military or surveillance technology Biden’s China Blacklist Revamp Leaves Him Lots of Wiggle Room
(DBN)

Towards a Principled Approach for Bailouts of COVID-distressed Critical/Systemic Firms
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

Distressed Funds Target CMBS Debt in Revival of Crisis Playbook
(DBN)

Will the “Return to Normalcy” Increase Tenants Seeking Bankruptcy Relief?
(DBN)

US eviction moratorium to stay in place after appeals court ruling Appeals court allows eviction moratorium to continue, says CDC likely to win appeal
(DBN)

Competitive buyers waive contingencies to score homes in tight market
(DBN)

____________

Municipalities:

Monetizing Masterpieces in Detroit's Bankruptcy
(DBN)

Distressed Muni Borrowers Are Still Piling Up in Pandemic’s Wake
(DBN)

10 Percent of L.A. County Residents Are Plotting a Move Elsewhere
(DBN)

____________

Oil/Gas:

Rejection: How Bankruptcy Courts’ Treatment of Midstream Gathering Agreements Affects Underwriting and Restructuring
(DBN)

Semi-Annual Oil & Gas Industry Update
(DBN)

Private equity bet on troubled Caribbean refinery blows up on retirement funds
(DBN)

Petrostates See Dire Consequences If World Rejects Oil Too Fast
(DBN)

We're Going to See $200 Oil
(DBN)

Ex-Enron CEO taps McKinsey colleagues for energy investment venture -sources
(DBN)

BlackRock CEO says Shell decarbonisation ruling "not a solution"
(DBN)

Pew: Americans Views on Electric Vehicles
(DBN)

____________

Retailing:

Express shares tumble after retailer announces plan to sell 15 million shares
(DBN)

Collected Group Leaves Bankruptcy Court Behind
(DBN)

____________

Hotels:

US bankruptcy court denies BOA motion to dismiss Chapter 11 cases of EH-Reit, entities
(DBN)

____________

Corporate Governance:

The Rise and Fall of Carlos Ghosn, Part 1
(DBN)

____________

Pharma:

Purdue's Poison Pill: The Breakdown of Chapter 11's Checks and Balances
(DBN)

McKinsey Opioid Work Included Advising Distributors, Tribe Says
(DBN)

Purdue Pharma bankruptcy plan that would give Sackler family immunity moves forward
(DBN)

Healey Says Sackler Family Trying To "Hijack And Abuse Bankruptcy Process" To Shield Themselves
(DBN)

____________

Fraud:

May 2021 Ponzi Scheme Roundup
(DBN)

____________

Politics:

There are two kinds of GOP attacks on democracy — and one is much worse
(DBN)

Trump advisors say the former president is so obsessed with fighting the 2020 election that telling him he lost is like 'p------ into the wind'
(DBN)

Cuomo Wins Dismissal of Suit Over N.Y.’s Covid Quarantine Rule
(DBN)

Talk of Trump 2024 run builds as legal pressure intensifies
(DBN)

Judge Approves Plea Deal, Sets Sentencing Date for Matt Gaetz Associate in Child Sex Trafficking Case
(DBN)

The Only Voter Fraud in Texas Was in a Failed GOP Bill
(DBN)

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New Bankruptcy Opinions
(2 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 (1 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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Veil Piercing:

Delaware Chancery Court Recognizes Reverse Veil Piercing in a Judgment Enforcement Action
(DBN)

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Bankruptcy Crimes:

Monmouth County Man Charged with Bankruptcy Fraud
(DBN)

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Professional Fees:

Telling the Story on Your Timesheets: A Fee Examiner's Tips for Creditors' Lawyers and Bankruptcy Estate Professionals
(DBN)

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Cross-Border:

Omani businessman appeals US recognition of English bankruptcy
(DBN)

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Trustees:

BK SD TX Seeks Ch. 13 Trustee
(DBN)

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Sales:

Energy Future Holdings: Third Circuit Authorizes Potential Administrative Claim for Losing Stalking Horse Bidder
(DBN)

____________

Aviation:

Delta CEO Sees U.S. Business Travel Recovering by Summer 2022
(DBN)

American Airlines ‘generated cash’ in May — a first since the pandemic began
(DBN)

EasyJet slams UK change to Portuguese travel as "huge blow"
(DBN)

Garuda Indonesia to seek debt payment suspension: government
(DBN)

Jet Airways has no right on its old slots, DGCA tells bankruptcy court
(DBN)

____________

Sports:

10,000 Tokyo Olympics volunteers quit before games begin next month
(DBN)

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Finance:

West Virginia Governor Hit by U.K. Lender Bankruptcy
(DBN)

____________

Maritime:

Suez Canal controlled speed of ship before it blocked waterway, insurer says
(DBN)

____________

Mass Torts:

Michigan attorney general, state police investigating sex abuse in Boy Scouts of America
(DBN)

Archdiocese of Milwaukee says it won't participate in AG investigation of clergy sex abuse
(DBN)

____________

Climate:

Major companies unite to push climate solutions
(DBN)

Bank of England Says Its Rate Setters Discussed Climate for First Time
(DBN)

California’s Epic Drought Is Parching Reservoirs and Worrying Farmers
(DBN)

____________

Crypto:

Canadian Bitcoin investor who 'died' leaving $137M of clients' money in limbo spent an 'eye-popping' amount of their cash on lavish lifestyle
(DBN)

Regulators will ultimately 'stop the music' on bitcoin and other cryptocurrencies, Amundi CIO says
(DBN)

Crypto-Crash Aftershocks Hit Traders With 50% Premiums Vanishing
(DBN)

____________

Taxis:

Taxi Medallion Crisis Drives Council Candidates on Road Toward a Rescue
(DBN)

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Education:

Accreditor Canceled on Fake College
(DBN)

____________

UK:

Cross-Class Cram Down in UK Restructuring Plans: Virgin Active
(DBN)

U.K. ‘Open-Minded’ About Extending Pandemic Furlough, Gove Says
(DBN)

____________

EU:

EU Keeps Non-Essential Travel Restrictions on the U.S. and U.K.
(DBN)

EU’s Least Vaccinated Country Wants to Donate Shots to Neighbors
(DBN)

Eastern European countries fall way behind on vaccinations
(DBN)

____________

Canada:

Questions arise as to who knew what and when on Laurentian as federal politicians plead ignorance
(DBN)

Canada is desperate for service workers as provinces reopen
(DBN)

The evolution of corporate rescue in Canada and the United States
(DBN)

____________

Mexico:

Mexico says U.S. to send it 1 mln J&J COVID-19 vaccines
(DBN)

____________

China:

Investors eye key assets in HNA Group bankruptcy restructuring Creditors seeking $187 billion from China's bankrupt HNA Group - executive quoted
(DBN)

China pushes Huarong to sell non-core units, mulls implicit support
(DBN)

China Can’t Open Up Like U.S. Despite Vaccination, Official Says
(DBN)

____________

India:

I'm a doctor in the U.S., fighting to save my family in India from covid
(DBN)

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