May 14, 2021

The Daily Bankruptcy News

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3-Column Formating

 

Law:

Top 50 Biglaw Firm Introduces New Lockstep Salary Scale Across All U.S. Offices
(DBN)

September Reopening For Baker McKenzie, With Remote Work Still On The Table
(DBN)

Firm Leaders 'Trying to Find a Middle Ground' in COVID-19 Vaccine Debate as In-Person Work Resumes
(DBN)

Survey: 92% Of Firms Say They Were Prepared For Full-Scale Remote Work
(DBN)

How Palm Beach is preparing for a possible Trump indictment
(DBN)

Roberta Kaplan Builds Progressive Firm Suing Trump, Defending Wall Street
(DBN)

Bankruptcy Attorney Albert Togut Named Interim Trustee in Kossoff Law Firm Chapter 7 Proceedings
(DBN)

Ex-Gibson Dunn partner struck off for deliberately misleading court
(DBN)

For-Profit Law School Blocked From Student Loan Programs • Florida Coastal’s financial aid reinstatement request denied; private equity firm pulls out
(DBN)

‘It is not ok to make people cry’: Lawyer blows lid on toxic culture
(DBN)

Bonkers Law Firm of the Week: Meet Partner. George Partner.
(DBN)

Debevoise Names Nine New Partners
(DBN)

McGahn to Testify to Congress at Private Hearing Over Russia • Former White House Counsel Don McGahn to Testify Under Oath About Whether Trump Tried to Fire Mueller
(DBN)

Manhattan DA prosecutors subpoenaed an elite Manhattan private school as part of its investigation into Trump
(DBN)

Florida Preparing To Florida Up Trump Extradition If New York Indicts
(DBN)

Giuliani hires attorneys who defended Harvey Weinstein • Rudy Giuliani Files Sealed Response to FBI Seizure of Devices
(DBN)

CNN Says Federal Judge Should Not Allow Devin Nunes’s Defamation Attorney to Represent Michael Flynn’s Brother in Lawsuit
(DBN)

Senate panel deadlocks over Biden pick to lead DOJ civil rights division
(DBN)

Disbarment recommended for lawyer accused of ramming car into rented vehicle on ex’s driveway, spitting on cops
(DBN)

Jones Day documents, hacked in vendor breach, reveal Chicago drone program details
(DBN)

GOP: No Riots on January 6th, Just Tourists at Capitol • Hearing on Jan. 6 violence exposes stark partisan divisions • Hundreds of people stormed the Capitol. Most won't face hefty prison terms, legal experts say •U.S. Marine Major Christopher Warnagiris arrested for participating in Capitol riot
(DBN)

Trial for ex-officers charged with abetting Floyd murder delayed until 2022 • Making Room for Federal Civil Rights Case, Minnesota Judge Postpones Trial of 3 Former Cops Charged in George Floyd’s Death
(DBN)

3 women charged in pig's head vandalism targeting ex-officer who testified in Chauvin's defense
(DBN)

San Diego police launch investigation after officers seen repeatedly punching Black man during arrest
(DBN)

Crime jumps after court-ordered policing changes
(DBN)

Hackers post hundreds of pages of purported internal D.C. police documents
(DBN)

White supremacists are the 'top domestic violent extremist threat' facing the US, says Biden official
(DBN)

Democrats, organizations push to end program giving military-grade gear to police
(DBN)

Biden administration mum on tracking migrant kids
(DBN)

Biden administration resumes repairing wall on southern border to prevent 'catastrophic flooding' • DHS Says Donald Trump’s Border Wall Construction ‘Blew Large Holes’ in Flood Protection Levees
(DBN)

Black Dunkin’ Donuts manager charged after fatally punching man who called him slur
(DBN)

Florida residents prosecuted for not wearing Covid face masks will be pardoned by Gov DeSantis
(DBN)

Mississippi Appeals Court Upholds 38-Year-Old Man’s Mandatory Life Sentence without Parole for Marijuana Possession
(DBN)

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Judges:

Federal judge admonishes BigLaw firm and former partner for description of opposing counsel
(DBN)

Justice Scalia: How Dare You Not Accept My Children To Your School
(DBN)

Is Brett Kavanaugh Out for Revenge? • Deep Dive on Aftermath of Kavanaugh’s Ascent to SCOTUS Reveals How Justices Reacted, Highlights Old Rivalry with Gorsuch
(DBN)

On a new, conservative court, Kavanaugh sits at the center
(DBN)

Justices consider hearing a case on ‘most offensive word’
(DBN)

Judy Sheindlin on Ending ‘Judge Judy,’ Her New Show and the Legal System’s Biggest Flaw
(DBN)

Florida Judge Will Be Publicly Reprimanded for Election Actions
(DBN)

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Wall Street:

Dow futures jump more than 100 points after major averages snap 3-day losing streak
(DBN)

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Education:

Teachers Union Head Shifts Stance, Calls for Reopening by Fall
(DBN)

More than half of community colleges are not affordable for low-income students
(DBN)

Some proms are back, with masks, testing and distancing
(DBN)

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Hotels:

Hotels: Occupancy Rate Down 17% Compared to Same Week in 2019
(DBN)

No Vacancy: Three Hotels Succumb to Pandemic-Related Pressures
(DBN)

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Fraud:

$2B in fraudulently obtained COVID-19 relief funds recovered: Secret Service
(DBN)

Publisher claimed to be Trump advisor and have cancer to swindle authors, feds say
(DBN)

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Pensions:

Biden’s $86 Billion Pension Rescue Set to Boost Corporate Bonds
(DBN)

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Climate:

Study finds Exxon's subtle PR shifts aim to sway public on inevitability of fossil fuel economy
(DBN)

Asia accounts for 99 out of 100 top cities facing the biggest environmental risks
(DBN)

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Food/Beverage:

McDonald's boosting average U.S. wages to more than $13 an hour
(DBN)

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Movie Theaters:

AMC Entertainment Raises $428M In New Capital From Sale Of 43M Shares
(DBN)

Mall of America is back in (show) business
(DBN)

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Utilities:

U.S. West Facing White-Knuckle Summer With Power in Short Supply • California Sees Risk of Power Supply Shortages for Summer
(DBN)

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Politics:

Senate GOP dismayed by vote to boot Cheney • What Voters in Wyoming Say About Liz Cheney’s Lonely Stand • The Real Reason Liz Cheney Had to Go
(DBN)

House Republicans expected to elect Rep. Elise Stefanik as conference chair
(DBN)


Republican ‘Pragmatists’ Call on Party to Move Past Trump
(DBN)

Activists and ex-spy said to have plotted to discredit Trump ‘enemies’ in government
(DBN)

Yang sits atop mayoral field vying to revive a battered New York City
(DBN)

Pollsters trade group: Biden-Trump surveys most inaccurate in 40 years
(DBN)

Sweeping election reform bill faces Senate buzzsaw • Manchin breaking with Democrats on voting rights
(DBN)

Top Democrat: 'House Republicans have definitively become a full-blown cult'
(DBN)

Briahna Joy Gray: Warren not endorsing Sanders in 2020 was 'really frustrating'
(DBN)

Pelosi: Marjorie Taylor Greene's behavior " beyond the pale" • Pelosi says House Ethics Committee should investigate Greene's 'verbal assault' on Ocasio-Cortez
(DBN)

Gaetz Wingman Joel Greenberg Set to Plead Guilty in Sex Crimes Case
(DBN)

Cuomo attempts to define harassment at tense press conference: 'If I make someone feel uncomfortable, that is not harassment'
(DBN)

QAnon-Loving Millionaires Are Trying to Steal Arizona for Trump • Arizona Senate Republicans sign lease to continue vote audit
(DBN)

Former staffer sues over Colorado Rep. Lamborn's 'reckless and dangerous approach' to Covid
(DBN)

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Economy:

Middle-Class Pay Lost Pace. Is Washington to Blame?
(DBN)

Rising prices are the latest financial blow to low-income Americans
(DBN)

Slow population growth means low interest rates are likely here to stay
(DBN)

The COVID distress cycle that wasn’t
(DBN)

Companies turn to pay hikes to lure workers
(DBN)

US jobless claims sink to 473K as more GOP governors bar aid • Weekly Initial Unemployment Claims decrease to 473,000 • U.S. jobless claims fell by more than forecast last week
(DBN)

As Economy Wobbles, Biden Stays Focused on Longer Term
(DBN)

Fed's Barkin: Ability to "unclog" labor market critical to recovery
(DBN)

April's jobs report was likely gloomier than the true labor market
(DBN)

Markets are losing faith in the Federal Reserve’s credibility
(DBN)

Producer prices for April rise 0.6 percent, doubling expectations • Another inflation gauge comes in hot with producer prices jumping 6.2% in April from a year ago • U.S. producer prices top forecasts, adding to inflation pressure
(DBN)

Sectors to watch as inflation fears spook U.S. markets
(DBN)

What U.S. inflation signs would cause Fed to change course?
(DBN)

GOP governors move to cut unemployment benefits as debate rages over effects • Republican governors are canceling unemployment but Biden's Labor Department may step in and provide some of it instead
(DBN)

These 9 states will end participation in unemployment assistance programs. Their reasons vary.
(DBN)

No, unemployment benefits don't stop people from returning to work
(DBN)

Democrats open to user fees for infrastructure deal
(DBN)

GOP split on counteroffer to Biden's spending
(DBN)

Biden meets with 6 key GOP senators as he seeks common ground on infrastructure
(DBN)

What do Republicans want on the economy? They're not sure anymore
(DBN)

As Trillions Flow Out the Door, Stimulus Oversight Faces Challenges
(DBN)

McDonald's raises minimum pay at corporate-owned stores across the US, as the battle for workers heats up
(DBN)

Tech CEOs are savagely mocking WeWork's chief exec for saying the 'least engaged' employees enjoy working from home
(DBN)

Roughly 900,000 people could see severe cuts in unemployment aid as Republicans seek to curb assistance
(DBN)

Ohio to lift most COVID-19 restrictions June 2
(DBN)

Some employees say no amount of precautions will make the workplace feel safe, survey says
(DBN)

Highest Earners Likely to Drive Consumption Surge, NY Fed Finds
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

U.S. mortgage rates fall for second week, with 30-year at 2.94 per cent • Mortgage rates just fell again, despite inflation soaring to 13-year high — what's going on?
(DBN)

Maryland Real Estate in April: Sales Up 27% YoY, Inventory Down 61% YoY
(DBN)

Woman says she came home to find her apartment complex had mistakenly evicted her
(DBN)

New York’s Biggest Mall Flirts With Muni Default as Future in Doubt
(DBN)

Madison Realty Capital closes on Toledano’s bankrupt East Village portfolio
(DBN)

Washington Prime Lenders Spar Over Assets as Talks Drag On
(DBN)

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Municipalities:

N.C. towns face insolvency as financial oversight falls short
(DBN)

Snyder Team Goes After Michigan AG Nessel Over Bankruptcy Records Released During Flint Case
(DBN)

A caution flag for states flush with unexpected cash
(DBN)

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Oil/Gas:

Colonial paid hackers almost $5M in ransom: report • Colonial Pipeline Has Cyber Insurance Policy - Sources • U.S. House Speaker Pelosi Voices Opposition on Firms Paying Ransom After Cyber Attacks
(DBN)

Colonial Pipeline is running at less than half of its capacity
(DBN)

Gas stations await relief from panic-buyers while Colonial Pipeline restores service
(DBN)

Oil and gasoline tumble after Colonial restarts its pipeline after the cyberattack shutdown
(DBN)

Gas hits $7 in Virginia
(DBN)

6 reasons US gas prices are above $3 — for the first time since 2014
(DBN)

Bankruptcy watchdog suspects group behind proposed oil terminal of diverting assets
(DBN)

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Consumer Finance:

Banks planning to issue credit cards to people without credit scores: report
(DBN)

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Crypto:

Bitcoin Falls Below $50,000 as Musk Calls Energy Use ‘Insane’
(DBN)

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Student Debt:

The case for canceling student debt — all of it
(DBN)

Rates on new federal student loans will rise by 1%. What borrowers need to know
(DBN)

____________

Non-Profits:

The lawsuit seeking to impose the “death penalty” on the NRA, explained
(DBN)

____________

Celebs:

Bankruptcy Trustees Set Their Sights on Tom Girardi's Estranged Wife, Erika Jayne
(DBN)

20 Celebrities Who Died Broke
(DBN)

____________

Autos:

Wall Street Bets was right: Hertz's bankruptcy auction will actually give shareholders a handsome payout - even after Wall Street decided the stock was worthless • Hertz: warrants allow shareholders to keep their gamble
(DBN)

Why are used cars so expensive right now?
(DBN)

Chip shortage expected to cost auto industry $110 billion in revenue in 2021
(DBN)

A man arrested for riding in the backseat of his driverless Tesla got out of jail, bought a new one, and did it again
(DBN)

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Healthcare:

Why many Covid experts think Americans can ditch their masks soon
(DBN)

CDC officials made a breakthrough decision on masks. This is what convinced them. • Fauci: 'If you're vaccinated and outside, put aside your mask' • CDC says fully vaccinated people can drop masks pretty much everywhere, with a few exceptions • Biden: "The rule is very simple: get vaccinated or wear a mask until you do," - "The choice is yours"
(DBN)

Young people demand vaccination requirements for reopening
(DBN)

Pelosi says masks will still be required on House floor, despite CDC guidance
(DBN)

Biden FactCheck: For vaccine rates among Americans 65 and older, “there’s virtually no difference between white, Black, Hispanic, Asian American.”
(DBN)

Poll: Slim majority not confident in US reaching herd immunity by Labor Day
(DBN)

Fears of contracting COVID-19 at lowest level in past year: Gallup
(DBN)

Amazon to hire 75,000 workers and will pay $100 bonus if they have Covid vaccine
(DBN)

Beers, doughnuts, and discounts: The growing list of vaccine freebies • The problem with Ohio’s $1 million vaccine lottery
(DBN)

Poor nations don't need patent waivers to obtain enough COVID vaccines to achieve herd immunity, they just need $4 billion
(DBN)

Misinformation is just one part of a vaccine trust problem
(DBN)

Researchers Want a Real Covid Investigation
(DBN)

____________

New Bankruptcy Opinions
(2 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (7 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (4 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)

______________

Distressed Investing:

Marks Laments ‘Not Having Great Things to Buy’ Amid Low Distress
(DBN)

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Standing:

Jevic Opinion Illustrates the Importance of Language Used in Orders
(DBN)

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Finance:

PPP Loans and Small Business Debtors In Bankruptcy
(DBN)

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Aviation:

I paid $19 to fly America's newest airline and had an amazing experience for dirt cheap. Here's what to know about flying Avelo.
(DBN)

Boeing to resume 737 Max deliveries ‘within the week’, airlines start repairs after FAA approves fix
(DBN)

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Cybersecurity:

Granholm on Colonial Pipeline: "These hacks are not going to stop"
(DBN)

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Paper Products:

Bankruptcy judge finalizes sale of Ponderay Newsprint
(DBN)

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Religion:

Archdiocese says it needs consultant for real estate issues
(DBN)

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Banking:

Judge Says Lenders Can Access Money From Citi's Mistaken Revlon Loan Payment
(DBN)

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Pharma:

West Virginia trial puts spotlight on sprawling opioid cases
(DBN)

Who’s to Blame for the U.S. Opioid Crisis?
(DBN)

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Retailing:

US Trustee Asks For Hold On Ascena Ch. 11 Plan
(DBN)

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Sovereigns:

Paris Club to Spare Argentina From $2.4 Billion Debt Default
(DBN)

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UK:

Restructuring leasehold estates – New Look provides a new lease of life for CVAs
(DBN)

High Court Rejects New Look Landlords’ CVA Challenge in Landmark Decision
(DBN)

What are the latest trends in bankruptcy and restructuring? What developments can we expect to see?
(DBN)

A New Look for retail company voluntary arrangements (“CVAs”)?
(DBN)

CVAs still in fashion as New Look successfully defends challenge
(DBN)

Part 26A restructuring plans - most significant change in 20 years
(DBN)

Three quarters of nightlife venues face bankruptcy without rent solution
(DBN)

UK prepares surge vaccinations to tackle Covid variant from India
(DBN)

U.K. Slams EU Over Brexit Finance ‘Threats’ as Relations Sour
(DBN)

Greensill: David Cameron defends lobbying for bankrupt firm
(DBN)

UK mask-wearing, social distancing to be relaxed on June 21
(DBN)

UK ex-PM Cameron says facing Greensill inquiry is 'painful'
(DBN)

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EU:

Over 25% of EU adults unlikely to take vaccine
(DBN)

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Canada:

Bank of Canada Says Complete Recovery Needed to Withdraw Support
(DBN)

Factory prices in Canada are rising at fastest pace since 1980
(DBN)

Bankrupt companies exploited federal wage subsidies despite long chances of survival
(DBN)

Tree poaching hits Canada amid lumber shortage
(DBN)

Greyhound Canada to Cease Operations
(DBN)

____________

Ireland:

Woman to pay mortgage until she is 90 under insolvency arrangement
(DBN)

Ireland wants pandemic-era remote working to revive its rural towns
(DBN)

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Portugal:

COVID curbs leave Portugal's Fatima pilgrims out in the cold
(DBN)

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Spain:

Spain is on track for herd immunity, PM says
(DBN)

Tourism minister says Spain will be ready for COVID travel certificate in June
(DBN)

____________

MENA:

Gaza conflict intensifies with rocket barrages and air strikes • Hamas, Israel fighting escalates even amid truce efforts • Israeli ground troops join the fight near Gaza, raising threat of war • As rival gangs of Jews and Arabs clash on streets, fears mount of irreparable damage to Israeli society • Israel calls up 7,000 reservists as its military is deployed to Gaza border in preparation for possible ground invasion • Netanyahu warns against 'lynchings' as clashes between Arabs and Jews rock Israeli cities • The Gaza doom loop • Arab-Jewish coexistence in Israel suddenly ruptured •For Israel and Hamas, Hard Choices Before Any Talks Could Begin • Arabs of Israel, minority with deep-seated grievances • Israel warns of 'more targets' as clashes between Arabs and Jews rock Israeli cities • Religious violence spreads across Israel as death toll from Gaza airstrikes mounts
(DBN)

The Israeli-Palestinian conflict is exposing a deep schism in the Democratic Party • Biden's Israel support follows U.S. precedent — but his own party isn't satisfied
(DBN)

____________

India:

COVID-19 kills more than 4,000 Indians amid clamor for vaccines
(DBN)

India reports over 343,000 new cases, professor says infection may have peaked
(DBN)

More than two billion doses of Covid-19 vaccine to become available in India soon, govt adviser says
(DBN)

Modi humbled by India's coronavirus crisis
(DBN)

More Indian workers are turning to ‘gig economy’ jobs amid coronavirus crisis
(DBN)

____________

South Africa:

SA’s coronavirus death toll much higher than official tally - SAMRC
(DBN)

African Covid-19 Testing Declines as Variants Spread, Body Says
(DBN)

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India:

India’s COVID-19 Surge Terrifies Pakistan
(DBN)

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Australia:

Insolvency laws set for reform, just months after introduction
(DBN)

Litigation: risky business for liquidators
(DBN)

The Death of the Peak Indebtedness Rule
(DBN)

____________

Ukraine:

Bankruptcy in Ukraine: key features
(DBN)

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