August 18, 2022

The Daily Bankruptcy News

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Law:

The Median Real Income Of Lawyers Has Fallen 1.9% Since 2001
(DBN)

Big Law Profit Plunge Looks Like Precursor to Another Good Year
(DBN)

Law firms experience downturn in profits in first half of 2022, new survey says
(DBN)

Gibson Dunn fixture Randy Mastro — whose Rolodex of clients ranges from Chris Christie to James Dolan — is leaving, apparently for rival law firm King & Spalding King & Spalding Nabs Gibson Litigation Head as New York Partner
(DBN)

Following decades of discourse on nonlawyer legal services, questions of motives continue
(DBN)

State supreme court rules against attorney who alleged defamation and forced resignation from firm
(DBN)

Say Goodbye To Your Own Office: This Firm Is Ready For '100% Hoteling'
(DBN)

Why this BigLaw firm adopted a permanent work-from-anywhere policy for its lawyers and staff
(DBN)

To Join or Not to Join: Professional Organization Involvement for Lawyer Career Advancement
(DBN)

Trump and his allies are demanding the Mar-a-Lago affidavit be released, but aides warn this is 'never good' for the defendant Trump staffers were more focused on securing big pictures from White House walls than properly sorting government documents, report says On Eve of Hearing, NYT, WaPo, and Others Ask Magistrate Judge to Unseal Affidavit of Probable Cause Behind Mar-a-Lago Search Florida Judge Urged to Release Most of FBI Affidavit Used to Search Trump's Home FBI Long Sought Documents Trump Hoarded Trump resisted requests to return stash of documents at Mar-a-Lago, saying 'it's not theirs, it's mine,' NYT reports Inside the frantic, final days of record-keeping that landed Trump in hot water Pence Criticizes Attacks on Trump Search DOJ officials were alarmed by surveillance footage of the Mar-a-Lago room where classified info was being stored, report says Does it Matter What (if Anything) Trump Declassified? Matt Gaetz's Republican primary opponent suggests he is the possible FBI Mar-a-Lago informant in new attack ad Were Classified Documents Donald Trump's Leverage If His Alleged Crimes Ever Caught Up With Him? FBI search cements Trump's hold on GOP
(DBN)

Alan Dershowitz Doesn't Understand Why Trump And Hillary Received Different Treatment Besides All The Facts And Law Being Different
(DBN)

The Justice Department subpoenaed the National Archives for the same documents the January 6 panel asked for, indicating there could be evidence of a crime in them: report
(DBN)

Pence says he'd "consider" testifying before House Jan. 6 committee if asked Men Accused of Crushing Cop in Capitol Attack to Receive Bench Trial Before Only Judge with History of Jan. 6 Acquittals
(DBN)

Trials, pardons, prison time: How Trump's legal woes could play out and what it means for 2024
(DBN)

Trump Asks Appeals Court to Scrap New York Probe of His Assets Trump Appellate Brief Argues New York Attorney General's Investigation into Trump Org Finances Is 'Unconstitutional in its Entirety'
(DBN)

Plea Deal Requires Weisselberg to Testify at Trump Organization Trial Trump CFO's plea deal could make him a prosecution witness
(DBN)

Georgia Has Launched a Criminal Investigation Into Whether Trump Election Lawyers Copied Sensitive Election Data
(DBN)

Trump's Legal Braintrust May Need To Take Remedial Crim Pro
(DBN)

Rudy Giuliani, a target in Atlanta probe into Trump 2020 election subversion scheme, appearing before grand jury Just How Screwed Is Rudy Giuliani? Giuliani says he 'satisfied' obligation with Ga. grand jury
(DBN)

Judge says Jenna Ellis must appear before grand jury investigating 2020 election plot
(DBN)

9 indicted in Mafia-led racket, including a New York police detective and defendants nicknamed "Joe Fish" and "Sal the Shoemaker"
(DBN)

Former Minneapolis police officer Thomas Lane ordered to report to federal prison
(DBN)

Alec Baldwin's 'Rust' phone records to be sent to New Mexico authorities
(DBN)

'Blatant abuse of power': Ousted Florida prosecutor sues DeSantis over suspension Florida state attorney challenges suspension by Gov. DeSantis
(DBN)

Same-Sex Marriage Victors Ready to Refight Battle Already Won
(DBN)

Fire Sale: Dealers rush to sell ghost gun parts before restrictions take effect
(DBN)

Oklahoma mom goes viral on TikTok for conducting school shooting drills with 5-year-old son: "I wish that it wasn't necessary"
(DBN)

Woman May Be Forced to Give Birth to a Headless Baby Because of an Abortion Ban Abortion Travel Benefits To Become More Common Among Employers After Dobbs Decision Near-total abortion ban advances in South Carolina The Most Recent Abortion Hurdle After Dobbs? A Parentless Teenager Has To Get Their Parent's Permission Post-Roe differences surface in GOP over new abortion rules When Abortion Roiled 19th Century New York Judge reinstates North Carolina's 20-week abortion ban
(DBN)

Judge lets Andrew Cuomo keep $5 million he got to write book during pandemic, at least for now
(DBN)

Fire Captain Denies That He Showed Photos of Kobe Bryant's Body at Gala Cocktail Hour as 'Party Trick'
(DBN)

NJ Man Tried to Hire Hitman for 'Fifteen Bucks' to Kill 13-Year-Old Girl, Prosecutors Say
(DBN)

Salman Rushdie attacker 'surprised' author survived: jailhouse interview
(DBN)

R. Kelly sexually assaulted minors and paid witnesses to cover up evidence, prosecutors say as his trial begins Attorney: Don't accept portrayal of R. Kelly as `monster'
(DBN)

Prosecutors link opera star Plácido Domingo to Argentinian crime ring
(DBN)

Jews across United States harassed with wave of antisemitic letters to homes
(DBN)

______________

Judges:

Redistricting, abortion supercharge state Supreme Court races
(DBN)

Judges who got kickbacks for sending kids to for-profit jails ordered to pay $200 million
(DBN)

Inside the Right's Obsession With the Trump Raid Judge
(DBN)

How an lawyer's bragging prompted a judge to throw out winning malpractice verdict
(DBN)

Trump supporters' threats to judge spur democracy concerns
(DBN)

Federal court workers can engage in political expression, DC Circuit rules
(DBN)

Supreme Court Justices Should Say Sorry Too
(DBN)

______________

Wall Street:

Stock futures tick higher as Wall Street tries to resume rally
(DBN)

U.S. Retail Traders Pile Back Into Options As Meme-stock Mania Flares
(DBN)

______________

Layoffs:

Crypto broker Genesis slashes 20% of workforce, announces CEO exit
(DBN)

SoulCycle Instructor Raises More Than $16,000 for Fired Staffers
(DBN)

Digital pharmacy Medly lays off 16% of staff
(DBN)

______________

Mass Torts:

Walmart, CVS, Walgreens Ordered to Pay $650 Million Over Opioid Sales Pharmacies must pay 2 Ohio counties $650 million in opioids lawsuit
(DBN)

Illinois attorney general announces $450M in nationwide settlement as part of opioid maker endo's bankruptcy
(DBN)

From Bankruptcy In Texas To Sanctions In Connecticut, Alex Jones's Legal Problems Are Just Beginning Judge Rips Alex Jones Attorneys for What She Fears Are 'Unprecedented' and 'Quite Shocking' Ethics Violations Sandy Hook attorney says Alex Jones' lawyer admitted in text he 'may have violated' protection order Alex Jones Abandons Trump for DeSantis: 'Way Better Than Trump' Jury selection to resume Thursday in Alex Jones defamation award trial in CT for Sandy Hook families
(DBN)

3M earplug MDL judge adds to bankruptcy's tangles with injunction order
(DBN)

Drugmaker Endo files for Chapter 11 amid opioid battles
(DBN)

____________

Crypto:

Lawyers See Growth in Crypto Work Despite Downturn
(DBN)

Your Crypto Platform Filed for Bankruptcy. Now What?
(DBN)

They Lost Crypto in the Crash. They're Trying to Get It Back.
(DBN)

Celsius, Brr. Part II. Canadian Pension Giant Caisse Writes Off $150M Bet on Bankrupt Crypto Lender Celsius Bankrupt Crypto Lender Celsius Considers Financing Proposals Financial Times accuses CEO of Celsius of contributing to the bankruptcy 'Consumer Business Is Dead' for Bankrupt Crypto Lender Celsius: Expert Quebec's Caisse Writes Off Celsius, Saying Bet Was 'Too Soon'
(DBN)

Troubled miner returns 26,000 rigs to eliminate debt
(DBN)

Crush of Bitcoin: is crypto winter for long or coming to an end?
(DBN)

Genesis Restructures After Three Arrows Files For Bankruptcy; Replaces CEO, Trims Workforce By 20%
(DBN)

Coinbase Insider Trading May Be Wider Than US Case, Study Says
(DBN)

Crypto Ads Starring Matt Damon, Tom Brady Vanish From Television
(DBN)

____________

Banking:

Citibank's latest battle over accidental Revlon loan repayment
(DBN)

____________

Tax:

Yellen tells IRS to develop modernization plan in 6 months
(DBN)

___________


Economy:

Even Soaring Inflation Can't Lure Many Retirees Back to Work
(DBN)

The anti-work movement
(DBN)

Money and millennials: The cost of living in 2022 vs. 1972
(DBN)

Fed's Bowman Says Labor Demand Is Strong But Supply Uncertain
(DBN)

Fed saw evidence of a slowing economy at its last meeting
(DBN)

Fed still needs to 'shock the market,' original 'Dr. Doom' economist says
(DBN)

U.S. Federal Reserve saw smaller hikes ahead to assess prior moves, minutes show
(DBN)

Sky-high inflation is here to stay — so brace for the Fed to stick to its guns on tightening, renowned economist says
(DBN)

Global private equity, venture capital deal value falls 63% in July
(DBN)

Treasury Yields Heading to 2% in Outlier View on Recession Risk
(DBN)

The Post-Global Economy
(DBN)

Germany takes center stage in Europe's worsening energy crisis. German Uniper Says It's Facing Insolvency Amid $12 Billion Loss Germany's Uniper on the 'brink of insolvency' after €12bn loss Norsk Hydro Shuts Aluminum Plant as Europe's Power Woes Deepen Drought Is Driving European Energy Markets Toward Disaster Germany Has Enough Gas for Less Than 3 Months on Russia Cutoff Europe Gas Takes a Breather From Rally as Storage Fills Up German Utility Reports Huge Loss as Russia Slashes Gas Flows How High Will European Gas Prices Go? How The EU Plans To Cut Natural Gas Consumption By 15% Energy Sanctions On Russia Have Been A Boon For China And India Russian rouble leaps to more than 2-week high past 60 vs dollar Flotilla of Diesel Ships Sails for Europe as Energy Crisis Looms Lawyers Seek Hedge Fund Help to Take Russia's Billions The UK Will Struggle to Keep the Lights on This Winter
(DBN)

Londoners Are Better Off Returning to the Office as Bills Soar
(DBN)

JPMorgan CEO Jamie Dimon told clients that remote work 'slows down honesty and decision making,' report says
(DBN)

Port strikes put global supply chains under fresh pressure
(DBN)

Freight Shipping Costs May Have Finally Peaked. Here's How That Could Impact Prices
(DBN)

Return-to-Office Deadline After Labor Day Sets Up Showdowns
(DBN)

Return to the Office? Don't Bank On It
(DBN)

CEOs predicted that a recession would bring workers back to the office. The opposite seems to be happening
(DBN)

US Retail Sales Little Changed Last Month as Fuel, Autos Drop
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

Fed's rate hikes hammer housing affordability
(DBN)

FOMC Minutes "Participants anticipated that this slowdown in housing activity would continue"
(DBN)

Severe US Housing Downturn Possible, but Not Yet Probable
(DBN)

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

The Most Difficult City to Sell a Home In
(DBN)

The Rich American City With the Highest Vacancy Rate
(DBN)

Woman Sues Landlord, Claims Lease Included 'Sexual Intercourse' Contract
(DBN)

____________

Municipalities:

Puerto Rico's bankruptcy: Where do things stand today?
(DBN)

Municipal bonds for South Carolina wood pellet maker land in bankruptcy court
(DBN)

____________

Oil/Gas:

Goldman Says Iran Nuclear Deal Is 'Unlikely' After Oil Tumbles
(DBN)

Natural Gas Demand Outpaces Production
(DBN)

Record US Oil Exports Propel Supertanker Rates to Two-Year High
(DBN)

Biden's Pause on Oil, Gas Leases on Public Land Is Reinstated — for Now
(DBN)

UK Car Sales Are Running on Batteries
(DBN)

Gas-powered muscle cars drive into the sunset, turn electric
(DBN)

____________

Climate:

Interior imposes limited water cuts, but lets Colorado River negotiations go into overtime Drought-stricken US West again hit with water cuts — with deeper restrictions expected Winners, losers in water cuts for Western states Feds call for water cutbacks as Colorado River is in 23-year drought
(DBN)

Climate change is a secret driver of inflation
(DBN)

The World's Roads Aren't Ready for a Hotter Climate
(DBN)

GOP govs who hate Biden's climate bill stand to benefit big from it
(DBN)

Explained: The Relationship Between Climate Change and Wildfires
(DBN)

Amid Extreme Drought, Some Towns in Spain Will Rely on Water Shipped in on Tankers
(DBN)

China fires rods into the sky to make it rain, as it faces worst heat wave on record
(DBN)

China cuts power to factories, homes amid drought and heat wave
(DBN)

Scientists warn of dire effects as Mediterranean heats up
(DBN)

California Seeks Power Conservation to Avoid Blackouts Amid Heat
(DBN)

A Spanish Town Is Using Ships for Water to Keep Taps Running
(DBN)

Rhine Reopens in Germany for Vessels Moving Goods Upstream
(DBN)

Drought conditions in Britain prompt water restrictions for millions in London
(DBN)

It's hot and dry out there, but it ain't as bad as 1540 (yet)
(DBN)

____________

Religion:

Psychedelics as a sacrament? Lawsuit says drugs are a religious right.
(DBN)

____________

Politics:

Liz Cheney says she's 'thinking about' running for president in 2024 and she'll do 'whatever it takes' to keep Trump from office Liz Cheney plans to go national 2024 preview? Cheney telegraphs her next, direct shot at Trump Cheney to launch anti-Trump organization after primary defeat Liz Cheney's Non-Concession Speech Why Liz Cheney lost Cheney's defeat end of an era for GOP; Trump's party now Biden Called Cheney After Her Loss to Trump-Backed Challenger
(DBN)

Planned Parenthood to spend record $50 million in midterm elections
(DBN)

Trump's angry words spur warnings of real violence
(DBN)

Kinzinger: Some people 'equate Donald Trump with the person of Jesus Christ'
(DBN)

James Carville: Trump scandal could be 'biggest story since 9/11'
(DBN)

Elon Musk tells Wyoming Republican dinner that they must be more 'compassionate' to immigrants and 'stay out of people's bedrooms' if they want to appeal to as many voters as possible
(DBN)

____________

Healthcare:

Most people infected with Omicron variant 'didn't know they had it,' study finds
(DBN)

COVID linked to brain disorders up to 2 years on from infection
(DBN)

Yes, there are more infectious diseases popping up these days — experts say there are 7 clear reasons why
(DBN)

Anti-Vax Activists Cheer NYC's Polio Spread
(DBN)

Childhood polio vaccination rate dangerously low in some N.Y. communities
(DBN)

Blistering CDC report says the agency cannot go on like this — it's too slow, not diverse, and not very good at giving public health advice
(DBN)

Far-Right Extremists Are Threatening to 'Execute' Doctors at a Children's Hospital
(DBN)

Sex between men, not skin contact, is fueling monkeypox, new research suggests
(DBN)

Monkeypox response continues to face hurdles after new federal guidance
(DBN)

Monkeypox cases jumped 20% in last week to 35,000 across 92 countries, WHO says
(DBN)

CDC takes a small step toward fixing America's public health system
(DBN)

____________

Education:

Texas district pulls the Bible, Anne Frank adaptation as schools face more book backlash
(DBN)

Minneapolis school district defends deal to lay off white teachers over minority staff
(DBN)

____________

 


New Bankruptcy Opinions
(2 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (14 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)

Avoidance Actions:

Court Pulls Carpet Out from Under Trustee's Preference Claim
(DBN)

____________

Intercreditor:

TPC bankruptcy and District Court Opinions Uphold Uptiering Transaction and Teach an Important Lesson on The Need for Express Lender Protections in Debt Documents
(DBN)

____________

Advisors:

Notice of Appearance: David Rush, Senior Managing Director at FTI Consulting Inc.
(DBN)

____________

Automatic Stay:

Creditors Beware: Bankruptcy Stay May Shield Property Possessed but Not Owned by Debtor
(DBN)

____________

Golf:

For Hawaiian Golf Project, it's Aloha New Ownership, Aloha Old Debt
(DBN)

____________

Aviation:

LATAM Airlines Reveals Update on Road to Recovery
(DBN)

Dubai Airport Expects Full Recovery Next Year Amid Travel Surge
(DBN)

Alleged serial Florida luggage thief arrested due to Apple Airtag Florida Man's Finesse Foiled By Find My App After Apple's Finding Function Functions Phenomenally
(DBN)

Cheap Air Travel May Be A Thing Of The Past
(DBN)

Over forty airlines and airports demanding funds from Adria
(DBN)

____________

Tech:

Twitter workers quitting at 'absurdly high' pace amid Elon Musk saga
(DBN)

____________

Retailing:

Target profit plunges 90% as inflation-weary shoppers pull back Target's profit craters after it cut prices to clear inventory Target takes 87% hit to operating profit as it resets inventory
(DBN)

Kohl's cuts guidance, blaming inflation for softer sales from middle-income shoppers
(DBN)

U.S. retail sales stall as gasoline prices decline.
(DBN)

Retail Sales "Unchanged" in July
(DBN)

July retail sales up 11.5% despite consumers traveling, dining out
(DBN)

DTC's very bad, no good earnings week
(DBN)

Lowe's is awarding $55 million in bonuses for hourly workers to fight inflation
(DBN)

Bed Bath & Beyond: A Hot Mess Bed Bath & Beyond Stock Plunges After Ryan Cohen Files to Unload Stake
(DBN)

____________

Trucking:

Uber: Self Driving Trucking Almost Here
(DBN)

____________

Student Debt:

40 million Americans are in the dark about student loan payments resuming
(DBN)

Cardona says student loan borrowers will know 'soon' if payment pause extended
(DBN)

____________

Banking:

Bank of America's overdraft fees down 90% under new policy
(DBN)

____________

Sovereigns:

Sri Lanka c.bank holds rates, governor cautiously optimistic on economy Sri Lanka Keeps Rate Steady as It Lets Past Hikes Tame Inflation
(DBN)

____________

UK:

UK Pubs and Restaurants to Keep Pushing Up Menu Prices
(DBN)

UK consumer spending drops as inflation hit intensifies
(DBN)

Traders Bet Bank of England Will Double Rates in Next Six Months Traders Bet on Two Percentage Points More of BOE Rate Hikes UK Interest Rates May Need to Rise to 4%, Andrew Sentance Says
(DBN)

Royal Mail Workers Harden Line in Dispute Over Pay, Conditions
(DBN)

Katie Price flogging dirty stained designer sliders for £250 ahead of bankruptcy hearing
(DBN)

PwC Raises UK Partner Pay to £1 Million for First Time
(DBN)

____________

EU:

Europe's gas crisis means its chance of recession is twice as high as for the US, Goldman Sachs warns
(DBN)

____________

New Zealand:

New Zealand Raises Key Rate Another Half-Point; Currency Gains
(DBN)

RBNZ Chief Warns New Zealand Home Prices Will Keep Falling
(DBN)

____________

China:

China's Economy is in Trouble
(DBN)

Goldman Sachs and Nomura both cut China's GDP outlook, again
(DBN)

China's Infrastructure Boom Gets Swamped by Property Woes
(DBN)

Factory Shutdowns, Showers for Pigs: China's Heat Wave Strains Economy
(DBN)

China Mutual Fund Values Evergrande Shares at Next-to-Nothing
(DBN)

China's bursting housing bubble summed up in a viral video, as official tells citizens to 'Buy one property, then a second. Bought a second? Buy a third, and fourth'
(DBN)

Chinese property developers' cash flows have plunged by more than 20%
(DBN)

UN Slavery Expert Says Xinjiang Forced Labor Claims 'Reasonable'
(DBN)

Seaside Lockdown Shows Covid Zero's Lasting Hit to China Tourism
(DBN)

Tourists Stranded on Tibet Highway as China Covid Cases Surge
(DBN)

US to hold trade talks with Taiwan in new show of support
(DBN)

____________

Russia:

Ukraine Strategy Targets Russian Army's Lifelines in Kherson Ukraine has telegraphed its big counteroffensive for months. So where is it? Ukraine was behind three explosions in Crimea, says Ukrainian government report Blasts in Crimea underscore Russian forces' vulnerability Ukrainians flee grim life in Russian-occupied Kherson Russia took Crimea from Ukraine in 2014. Now, Kyiv is fighting back The US has been quietly giving Ukraine radar-hunting missiles that could really be a problem for Russia
(DBN)

Brittney Griner is set to serve time in one of Russia's penal colonies, where abuse is common, disease is rampant, and labor is forced
(DBN)

____________

MENA:

Afghanistan under Taliban rule is a place of desperation: "Malnourished children die here every day." Dueling views remain a year after Afghan pullout The Taliban's War on Women and Girls Afghanistan's 'collapsed economy' can't be patched up by humanitarian relief: UN
(DBN)

____________

Cuba:

More People Are Fleeing Cuba Now Than During 1980 and 1994 Crises
(DBN)

____________

Spain:

Spain's Jan-June Trade Deficit Widens Almost Six-Fold to 32 Billion Euros
(DBN)

____________

Turkey:

Turkey shocks markets with rate cut despite inflation near 80%, lira tumbles
(DBN)

____________

Brazil:

New law could mark end of American Confederacy – in Brazil
(DBN)

____________

France:

Mass insolvency for French companies a real risk, unions warn
(DBN)

____________


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