August 10, 2022

The Daily Bankruptcy News

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Law:

ABA Sides Against Opening Law Firms Up to New Competition Sharing fees with nonlawyers is inconsistent with profession's 'core values,' ABA House says
(DBN)

Federal judge tosses lawyer's suit over cellphone border search
(DBN)

Associates At This Biglaw Firm Really LOVE Money
(DBN)

Are Attorneys Still Uprooting From Their Jobs?
(DBN)

Biglaw Attorney Benchslapped Over 'Hubris,' Told To Open Checkbook To Personally Pay
(DBN)

'Shocking' Tom Girardi scandal shows need for legal reforms, California chief justice says
(DBN)

ABA Loosens Distance Learning Accreditation Standard; Council Withdraws Diversity Proposal After Public Criticism
(DBN)

Trump's Secretary of State Pompeo Will Be Questioned by Jan. 6 Panel Public opinion relatively unchanged after Jan. 6 hearings: poll
(DBN)

Feds likely obtained 'pulverizing' amount of evidence ahead of searching Trump's Mar-a-Lago home, legal experts say Here's what we know about the FBI search of Trump's Mar-a-Lago Trump Lawyers Were in Talks Over Records at Mar-a-lago FBI took boxes and documents in Trump search, sources say Legal Experts React to 'Unprecedented Nature' of FBI's Mar-a-Lago Search, Whether 'an Arrest Warrant Could Be Issued,' and More Biden had no advance notice on Mar-a-Lago search, White House says FBI search of Trump's Florida home was 'by the book,' ex-prosecutors say Trump Is Furious About The FBI Warrant. And, No, You Can't See It. People Are Sharing a 2016 Sarah Huckabee Sanders Tweet After FBI Searches Trump's Mar-a-Lago Resort Trump FBI Search Is Just One Potential Criminal Probe He Faces. Here Are Four Others Trump Says FBI Raided His Florida Home as Focus Escalates A law forbidding presidents from destroying or mishandling records could be why FBI agents searched Donald Trump's Mar-a-Lago home What is the Presidential Records Act? FBI Probe Renews Focus on Trump's Haphazard Handling of Files What we know — and don't know — about Trump and the FBI Andrew Cuomo says FBI raid risks undermining Jan. 6 investigations The Mar-a-Lago raid: A case for criminal prosecution, or another 'insurance policy' against Trump? Trump world takes stock of which Republicans back him against the FBI Christie calls Mar-a-Lago search 'fair game' Sen. Tim Scott "not rushing to judgment" after FBI's Mar-a-Lago search Trump May Have Taken Documents to Sell as 'Memorabilia': Ghostwriter Michael Cohen was jubilant after the FBI searched Trump's home, says he is finally being 'held accountable' Watergate 'in reverse'? Historians and legal analysts pan Trump's claims and point to legal peril ahead After Mar-a-Lago search, users on pro-Trump forums agitate for 'civil war' — including a Jan. 6 rioter Lindsey Graham says 'nobody's above the law' after FBI searched Trump's Mar-a-Lago club but added that he's 'suspicious' of the investigation Pence demands 'full accounting' from Garland on Mar-a-Lago search Was there a Mar-a-Lago rat? Trump Supporters Are Calling for Civil War After FBI Search of Mar-a-Lago Fox News Is Having a Nuclear Meltdown Over the Feds Raiding Mar-a-Lago The FBI's Dangerous Trump Search Lawyers received instructions to secure Trump's document room months before the FBI search at Mar-a-Lago: report Trump was perched in Trump Tower as he decried 'unauthorized raid on my home' at Mar-a-Lago resort Justice Department should have subpoenaed documents, not raided Trump's home Trump asks 'every American patriot' to donate as he fundraises off FBI's Mar-a-Lago raid Prominent Republicans call for answers 'now' from FBI, DOJ in Trump raid GOP Casts Trump as Victim, Attacks FBI in Midterm Rallying Cry Marco Rubio, MAGAworld Made Several Misleading Statements About FBI Search of Trump's Mar-a-Lago Home Republicans Are Suddenly Very Eager to Defund the Police GOP pressures DOJ for answers on Trump raid Presidential Records Act and Trump search explained Dan Abrams: 'There Has to Be Something More' to the FBI Mar-a-Lago Raid
(DBN)

Appeals court says House committee can obtain Trump's tax records
(DBN)

Trump to be deposed by N.Y. AG in civil probe of his business practices Trump to Be Questioned by New York Attorney General Wednesday
(DBN)

Sandy Hook lawyer says Alex Jones sent 'intimate photo' of his wife to Trump ally Roger Stone Alex Jones' wife said she is 'unaware' and 'upset' her husband sent a nude photo of her to Roger Stone
(DBN)

Giuliani denies buying airline tickets in dispute with Georgia prosecutors who just cited his travel receipts as the reason he needs to testify ASAP in their Trump investigation Georgia DA rejects Giuliani effort to postpone Aug. 9 grand jury appearance Rudy Giuliani's Lawyer Says That Georgia Prosecutors Refused to Disclose Whether His Client Is a 'Target' of 2020 Election Probe Giuliani Ordered to Testify to Atlanta Grand Jury in 2020 Election Probe Judge tells Giuliani to appear in Georgia, by "train or a bus or Uber"
(DBN)

Billionaire Trump Ally Accused of Illegally Pushing UAE's Interests Argues GPS Monitoring Prevents Him from Getting a Fair Trial
(DBN)

Nebraska Republicans lack votes to pass 12-week abortion ban A record number of abortion measures are on the ballot in 2022 This Is the Data Facebook Gave Police to Prosecute a Teenager for Abortion Minimalism and Formalism in Dobbs Judge could soon decide temporary fate of new Georgia abortion law Florida rabbi challenging state's abortion law files new suit with added plaintiffs, including physician Republicans in Wisconsin embrace family leave in wake of near-total abortion ban Pregnant and at risk of a deadly infection: Women in states with abortion bans face post-Roe reality In wake of Dobbs, ABA advocates for abortion, same-sex marriage and contraceptive rights In Guam, the nearest domestic abortion clinic is 4,000 miles away. How will Roe's reversal change the U.S. territory? Mother and daughter charged over teen's abortion after Facebook was ordered to turn over their chats
(DBN)

Texas lawsuit aims to gut birth control and HIV medication coverage from health insurance plans
(DBN)

Civil rights groups condemn fake ICE university that detained students, seized millions of dollars
(DBN)

Why isn't Biden removing more criminal migrants?
(DBN)

Officers win $1.4M in discrimination suit over guarding Derek Chauvin
(DBN)

Albuquerque police detain suspect in killings of four Muslim men Afghan Muslim arrested for killings that shook New Mexico's Islamic community
(DBN)

Grand jury declines to indict Emmett Till's accuser
(DBN)

Traveling Nurse Charged With Six Counts of Murder After High-Speed Crash Mercedes driver involved in 13 prior wrecks before Windsor Hills crash that killed 5, D.A. says, was going 90 mph
(DBN)

Florida private school granted exception to Biden LGBTQ+ policy changes, will receive federal meal funding
(DBN)

______________

Judges:

Federal Judge Rescinds Resignation For Stupidest Possible Reason
(DBN)

Ex-Judge Luttig Calls GOP-Backed Legal Theory Grave Threat
(DBN)

Justice Clarence Thomas' America: Straight, Color-Blind, Religious, and Heavily Armed
(DBN)

Federal Judge Finds 'Chalking Tires' Is Unconstitutional, Orders City to Pay $1 Per Violation
(DBN)

Manchin permitting deal could handcuff courts
(DBN)

Biden has appointed more federal judges than any president since JFK at this point in his tenure
(DBN)

______________

Wall Street:

Stock futures nudge higher as investors brace for July inflation report
(DBN)

The Fed Is Cooling the Economy Down, but Stocks Are Hot. What Gives?
(DBN)

The red flag that preceded a halving of global equities in 2000 and 2007 is back, warns Citi
(DBN)

______________

Layoffs:

Business Is Booming for Layoff Specialists: 'Never Seen Anything Like This'
(DBN)

Hootsuite to lay off 30% of staff, begin global restructuring
(DBN)

Retail disruptors are turning to layoffs to cut costs and restructure
(DBN)

Warby Parker lays off 15% of its corporate workforce, citing changing consumer behavior
(DBN)

Pennsylvania medical cannabis company lays off 55 workers
(DBN)

______________

Debt Collection:

FDCPA Claims: Are Intangible Injuries "Concrete" Injuries?
(DBN)

____________

Crypto:

Celsius Networks' Bankruptcy Case Update: It's Still Early Days
(DBN)

Sam Bankman-Fried's crypto firms had deep ties to Voyager Digital and its bankruptcy wipeout
(DBN)

Bankruptcy lawyers talk about the Celsius collapse, bankruptcy case, and related topics
(DBN)

Wall Street Pros Offer Crypto Holders a Backdoor Bankruptcy Exit
(DBN)

FDIC Issues Crypto Advisory Concerning Alleged Misrepresentations to Consumers
(DBN)

As CoinFlex files for restructuring, Nuri files for bankruptcy
(DBN)

Canadian Regulators Probing Crypto Lender Celsius Network Alongside US: Report
(DBN)

Crypto exchange Nuri files for insolvency in Germany
(DBN)

Crypto lender Hodlnaut not allowed to conduct regulated services
(DBN)

Blockchain Bridges Fall Into Troubled Waters
(DBN)

Singapore Regulator Reiterates Crypto Dangers Amid Hodlnaut Woes
(DBN)

North Korea's increasing use of crypto heists to fund nukes worries US
(DBN)

Bitcoin Slumps, Ending a Four-Day Rally, as Volatility Reigns
(DBN)

____________

Politics:

Wisconsin Primary Sets Up Marquee Battle for Control of US Senate Trump-backed Tim Michels wins the GOP nomination for governor in Wisconsin
(DBN)

The Republican center mounts its comeback in New England
(DBN)

GOP polls show House battlefield stretching into double-digit Biden districts
(DBN)

Ex-RNC chairman calls Marjorie Taylor Greene a 's---forbrains' Republican for demanding the FBI be defunded after Trump raid
(DBN)

'He's a Coward': Dick Cheney, in Ad for Liz, Calls Trump Threat to Republic
(DBN)

Pelosi extends remote voting for House members
(DBN)

Maps in Four States Were Ruled Illegal Gerrymanders. They're Being Used Anyway.
(DBN)

Paul Manafort Admits He Sold Campaign Data to the Russians
(DBN)

The Conservative Political Action Conference Encouraged Domestic Terrorism In Broad Daylight. Are We Prepared For Speech Like That?
(DBN)

____________


Economy:

US Productivity Falls for a Second Quarter, Labor Costs Surge
(DBN)

Critical inflation report could show price increases have eased
(DBN)

Welcome to the Great Salary Convergence — a seismic shift in the way you're going to get paid
(DBN)

US economy still faces the risk of a severe recession despite the strong jobs report as bonds flash warnings, says El-Erian
(DBN)

Food Inflation Eases, But Problematic Crops Prevent Wider Relief
(DBN)

Cathie Wood says the Fed will cut rates in 2023 as a number of signals point to a 'very weak' economy
(DBN)

Wells Fargo says US inflation could drop to 5% by October, given the plunge in gasoline prices
(DBN)

Further evidence that Black, Native American and Latino families are feeling inflation's burn more than white peers
(DBN)

State Street Global Advisors Survey: Inflation Causing Stress and Anxiety; Nearly Half of Investors Believe It Has Not Peaked
(DBN)

US Online Prices Post First Annual Drop in Over 2 Years as Pandemic Demand Cools
(DBN)

'Dr. Doom' Nouriel Roubini warns the era of stagflation is here and central banks are setting a trap in trying to normalize policy
(DBN)

BofA Sees Slower Card Spending as Rent Increases Dent Wallets
(DBN)

UK Braces for Blackouts, Gas Cuts in January in Emergency Plan UK Households Get Fresh Warning of Energy Bills Topping £4,000 Russia More Than Triples Current-Account Surplus to $167 Billion Oil rallies as Russian flows halted via key pipeline to Europe Where in the world are Russians going to avoid sanctions? Russia unloads an oil cargo at an obscure Egyptian port, as ships carrying its crude increasingly cover their tracks The US-Led Drive to Isolate Russia and China Is Falling Short Putin's war is economic suicide Europe Is Set to Start Winter Seriously Short of Diesel Fuel Russia Ready to Resume Oil Flow to Central Europe as Spat Solved Another Month in Deflation Helps Russia Turn Page on Price Shock European Gas Prices Increase as Winter Supply Risks Loom
(DBN)

Americans return to pre-pandemic life: survey
(DBN)

Container Shippers Are Set to Smash Year-Old Profit Record by 73%
(DBN)

Malcolm Gladwell, who works remotely and starts his day on the sofa with a laptop, says it's not in people's 'best interest' to work from home Malcolm Gladwell gets blowback from remote workers: 'I'm in my jammies and I'm just fine'
(DBN)

The many ways JPMorgan keeps tabs on its workers — from their Zoom calls to in-office attendance
(DBN)

Why the Inflation Reduction Act is an economic winner for rural America
(DBN)

Inflation Reduction Act could be "game-changing" for millions of U.S. seniors
(DBN)

Why Small Businesses Stand to Gain From the Inflation Reduction Act
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

People are getting 'squeezed' by soaring rents, especially Gen Z, according to Bank of America data
(DBN)

MBA: Mortgage Applications Increase in Latest Weekly Survey
(DBN)

Wild swings in mortgage rates last week caused a rare surge in refinancing
(DBN)

FDIC signals greater scrutiny of commercial real estate loans
(DBN)

Leading Index for Commercial Real Estate increases in July
(DBN)

Redfin Reports A Growing Share of Home Listings Are Stale As Market Cools
(DBN)

Cities With the Cheapest Housing
(DBN)

____________

Municipalities:

Detroit returns to bankruptcy court for pension funding dispute
(DBN)

US States Slash Taxes Most in Decades on Big Budget Surpluses
(DBN)

____________

Oil/Gas:

The oil market is set to tighten rapidly as winter approaches and prices are still on track to top $120 a barrel, energy expert says
(DBN)

Oil Output in US Set for Record 2023 Despite Slowing Growth
(DBN)

US Gas Prices Fall Below $4 per Gallon; First Time Since March
(DBN)

Tax Bill May Crush US 'Mom and Pop' Oil Drillers, Pioneer CEO Says
(DBN)

US gas prices will jump back to $4.35 soon because supplies are running low, Goldman Sachs says
(DBN)

Gasoline-Demand Forecast Is Cut for This Year Amid High US Prices
(DBN)

Visualizing 10 Years of Global EV Sales by Country
(DBN)

____________

Climate:

Visualizing U.S. Greenhouse Gas Emissions by Sector
(DBN)

New York Heat Wave Set to Peak as ConEd Urges Power Conservation
(DBN)

London to Be Hit With Hosepipe Ban as Heat Wave Nears
(DBN)

Temperatures Rise in Europe as Another Heat Wave Blankets Region
(DBN)

Europe's Rivers Are Running Dry, Disrupting $80 Billion in Trade Routes Rhine River Withers to Crisis Level as Europe Thirsts for Energy
(DBN)

Soaring Temperatures Across Europe Trigger Weather Warnings
(DBN)

UK issues new 'extreme heat' warning for England, Wales
(DBN)

How are floods and droughts happening at the same time?
(DBN)

Where are the high-paying 'green' jobs? Often in the states fighting against them.
(DBN)

5 ways the Democrats' landmark bill will fight climate change
(DBN)

Seoul Set for More Rain After Worst Storm in a Century Kills 9
(DBN)

____________

Labor:

Lululemon Workers to Vote This Month on Unionizing D.C. Store
(DBN)

Chipotle to Pay $20 Million to NYC Workers for Unpaid Sick Leave, Scheduling Violations
(DBN)

____________

Food/Beverage:

$15 French Fries and $18 Sandwiches: Inflation Hits New York
(DBN)

____________

Student Debt:

Assessing the Two Tests Courts Use to Determine Dischargeability of Student Loan Debt
(DBN)

Private Student Loans may be Dischargeable in Bankruptcy Without Meeting the Undue Hardship Requirement and if not, there are two Ways to Prove Undue Hardship
(DBN)

Age as a Factor in Determining Discharge of a Debtor's Student Loan Debt
(DBN)

The Prospect of a Debtor's Future Employment is a Factor Courts Consider When Discharging Student Loan Debt
(DBN)

200,000 student-loan borrowers get a 'grand slam' after a federal judge moves them closer to $6 billion in debt cancellation
(DBN)

Student-Loan Freeze Led to Big Credit-Score Gains, N.Y. Fed Says
(DBN)

Borrowers, lenders left in limbo as deadline to extend student loan payment pause nears
(DBN)

____________

Autos:

Ford hikes price of F-150 Lightning electric truck by up to $8,500
(DBN)

Elon Musk sells 7.92 million Tesla shares worth $6.88 billion
(DBN)

____________

Software:

Software Company Avaya Probes Earnings, Casts 'Substantial Doubt' About Viability
(DBN)

____________

Events:

Troubled Events Startup to Restructure After Sale Effort Fails
(DBN)

____________

Tech:

Mark Cuban says buying virtual real estate is 'the dumbest s--- ever' as metaverse hype appears to be fading
(DBN)

Biden signs $280 billion chip funding bill
(DBN)

____________

Healthcare:

White People Who Got Placebo From White Doctors Felt Better, Study Says
(DBN)

Group of 23 states tells U.S. court CDC lacks authority to set transit mask rules
(DBN)

Schumer: Senate will vote again on $35 insulin cap after GOP blocked it
(DBN)

School vaccine mandates for Covid-19 are not happening
(DBN)

____________

 


New Bankruptcy Opinions
(6 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (10 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (0 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 Statistics:

Just the Facts: Consumer Bankruptcy Trends, 2005-2021
(DBN)

BK AZ: Updated Filing Statistics
(DBN)

The 'rude awakening' for bankruptcies Elon Musk warned about hasn't happened yet
(DBN)

______________

Safe Harbors:

Better Late Than Never: Delaware Bankruptcy Court Determines That 546(e) Avoidance Safe Harbors Are Available to Defendants That Only Qualify as Financial Participants Several Years After the Subject Transaction in In re Samson Resources Corp.
(DBN)

____________

Miscellaneous:

Eastern District of Pennsylvania Bankruptcy Conference Case Problem Series: Dr. Hibbert and Dr. Nick
(DBN)

____________

Recharacterization:

True Sales or Secured Transactions? The Contract is Not Dispositive
(DBN)

____________

Third Party Releases:

Are Nonconsensual Third-Party Releases Acceptable in United States Courts
(DBN)

____________

Avoidance Actions:

Eleventh Circuit Holds Payment of 503(b)(9) Administrative Expense Claims Do Not Reduce Subsequent New Value Preference Defense
(DBN)

____________

Constitution:

Constitutionality of Non-Uniform Quarterly Fees
(DBN)

____________

Cross-Border:

The Split in the Application of Section 109(a) Requirements to Chapter 15 Cases
(DBN)

Availability of Setoff to Foreign Debtors and Representatives in U.S. Courts
(DBN)

____________

Deadlines:

The Ability to Set and Enforce Bar Dates and Determine Untimely Administrative Expense Claims in a Chapter 11 Case
(DBN)

____________

Exemptions:

A Foreign Debtor who Lacks Permanent Residence in the U.S. may Qualify for Florida's Homestead Exemption
(DBN)

Quitclaim Deeds, Divorce Decrees: Homestead Exemptions for Transferred Marital Property Across "Tenancy by the Entirety" and "Community Property" Jurisdictions
(DBN)

____________

Standing:

Granting Derivative Standing to a Creditors' Committee
(DBN)

____________

Banking:

Who's Down with OCC('s Definition of "Banks")?
(DBN)

____________

IRAs:

Ownership Status of Inherited Retirement Accounts in Bankruptcy
(DBN)

____________

Aviation:

The 10 Worst US Airports for Flight Cancellations This Summer
(DBN)

Atlanta man threatened with arrest for letting 2-year-old sit on lap on flight
(DBN)

Southwest attendant suffers broken back in hard landing
(DBN)

LATAM Receives US Court and Shareholder Approval on Plan of Reorganization, Secures Exit Financing and Moves Forward With Plan Implementation Requirements
(DBN)

Travel Giant TUI Sees Holiday Demand Solid for Rest of Summer
(DBN)

____________

Tax:

What an $80B funding boost to the IRS could mean for taxpayers
(DBN)

IRS says it 'absolutely' won't increase audit scrutiny on middle-income Americans
(DBN)

____________

Education:

Why Americans are increasingly dubious about going to college
(DBN)

Recent Court Ruling In Covid-19 Tuition Refund Case Could Send Shock Waves To Universities Throughout The Country
(DBN)

College Endowments Post Biggest Losses Since Financial Crisis
(DBN)

'I didn't really learn anything': COVID grads face college
(DBN)

Florida's war on public education looks a lot like Russia's
(DBN)

With or without student loan forgiveness, college costs are too high, experts say
(DBN)

70% of Texas Teachers on the Verge of Quitting
(DBN)

____________

History:

A 1909 Perspective On Bankruptcy Laws v. Similar State Laws (From Samuel Williston)
(DBN)

____________

Pharma:

Drugmaker Endo Says Bankruptcy Likely Imminent
(WSJ)

____________

Sovereigns:

Ukraine says it has creditor approval for growth-related warrant changes
(DBN)

Sri Lanka Presents Plan in Parliament to Cut President's Powers
(DBN)

____________

UK:

A third of Brits face poverty with energy bills set to hit $5,000
(DBN)

Over 115,000 UK Postal Workers to Strike in August, September Royal Mail Says It Would Suffer a Full-Year Loss From Strike
(DBN)

Destination Events Platform Pollen Appears Headed for Bankruptcy
(DBN)

'A tragedy': Britain's cost-of-living crisis worsens as rents, energy bills soar
(DBN)

____________

Canada:

Entitlement to Production Revenues Between the Effective Date and Closing in Insolvency Vesting Orders
(DBN)

____________

Belgium:

Near-Record Inflation Tests Belgium's Automatic Wage Indexation
(DBN)

____________

Spain:

Bankruptcy contests increased by 22% in July
(DBN)

____________

Russia:

Russia Is Scouring the Globe for Weapons to Use Against Ukraine Large explosions rock Russian military air base in Crimea In war-battered Mykolaiv, the authorities search for informers helping the Russians The Case for Cautious Optimism in Ukraine US to Help Clear Deadly Mines in Ukraine With $89 Million in Aid
(DBN)

Estonia, Finland want Europe to end Russian tourist visas
(DBN)

Ukraine and Russia accuse each other of shelling Zaporizhzhia nuclear power plant as more grain ships from Odesa
(DBN)

ABA condemns Russia's invasion of Ukraine and urges UN to investigate war crimes
(DBN)

____________

Mexico:

Mexico's Inflation Hits 21-Year High Ahead of Rate Decision
(DBN)

Mexican Lender Unifin to Stop Paying Bonds and Restructure Debt
(DBN)

____________

China:

Chinese Official Says Taiwan Is Part of China Because It Has Many Chinese Restaurants
(DBN)

China Says Taiwan Military Drills Over, Plans Regular Patrols
(DBN)

China consumer prices hit a two-year high
(DBN)

Why people in China stopped paying their mortgages
(DBN)

China's mortgage boycotts are a symptom of a broader crisis
(DBN)

____________

MENA:

Egypt Dims Lights to Free Up More Natural Gas for Export
(DBN)

Afghans Promised a Way Out Are Still Trapped by Red Tape
(DBN)

____________


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