August 24, 2022

The Daily Bankruptcy News

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Law:

Biglaw Firm Apologizes After Offering Associates Lower Bonuses Than Announced
(DBN)

Inflation Is Messing With Biglaw Billing
(DBN)

Women In U.S. Law Schools, 1948-2021
(DBN)

Biglaw Gets Political This Primary Season
(DBN)

Fewer people are interested in becoming law professors, new data shows
(DBN)

Where Good Ideas Come From
(DBN)

Federal Court Allows Tenured Professor's Discrimination Lawsuit Against Law School To Go To Trial
(DBN)

Interview Horror Stories: Eating And Talking At The Same Time Can Be A Challenge
(DBN)

In-House: 3 Ways To Recession-Proof Your Career In An Economic Downtown
(DBN)

Is There Any Outlet Too Stupid For Alan Dershowitz?
(DBN)

Documents recovered at Mar-a-Lago were among government's most classified, letter shows • 'Incredibly Damning': Ex-FBI General Counsel Declares Mar-a-Lago Classified Docs Reveal a 'Substantial Criminal Case' Against Trump • National Archives says at least 700 pages of classified materials seized from Trump's home • Donald Trump Jr. says 'it would probably be good' if 'nuclear codes' were stashed at Mar-a-Lago • Trump seeks special master to review Mar-a-Lago documents • DOJ wants to see more security video from Mar-a-Lago after FBI search: report • Liz Cheney says she's 'disgusted' the names of the Mar-a-Lago raid FBI agents were leaked and accused Republicans of 'dangerous hypocrisy' • Archives Warned Trump About Documents' Threat in May Letter • National Archives Letter Says Trump's Lawyers Tried to 'Delay' FBI Involvement in Recovery of Documents at the 'Highest Levels of Classification' from Mar-a-Lago • Trump Files Were Sought Months Ago for Security Damage Analysis • Oh, So Now It's Bad to Take Hundreds of Classified Documents to Your House • Trump's Blackmail Defense • Escape From D.C.: Analyzing Jan. 6 Venue Transfer Motions • Former prosecutors mock Trump's attorneys and say they may need to hire their own lawyers amid continued Mar-a-Lago fallout • Trump held on tightly to 'sensitive secrets' and information about US intelligence-gathering at Mar-a-Lago, sources tell WaPo
(DBN)

Trump Sues Merrick Garland For Bad Court Thingy
(DBN)

Judge Shuts Two Trump Attorneys Out of Challenge to Mar-a-Largo Search Warrant Because They Failed to File in 'Strict Accordance' with the Rules • Federal Judge Has Several Questions for Trump's Lawyers in Court Fight Over Mar-a-Lago Warrant
(DBN)

Maryland Man Who Served on Presidential Helicopter Squadron as a Marine Pleads Guilty to Jan. 6 Felony • Three Men Convicted in Jan. 6 Tunnel Assault of Police Officers During Capitol Siege
(DBN)

Black customer awarded $4.4M in damages in Walmart racial profiling lawsuit
(DBN)

We're About to Find Out What Happens When Privacy Is All but Gone
(DBN)

Yes, Slavery Is on the Ballot in These States
(DBN)

2 men guilty of conspiring to kidnap Gov. Gretchen Whitmer • Two Men Convicted of Plotting to Kidnap Michigan Gov. Gretchen Whitmer in Alleged Entrapment Case Donald Trump Recently Called 'Fake' • DHS Jan. 6 Investigators Raised Alarm About Being Stonewalled Last Year
(DBN)

DeSantis Has Advantage in Battle Over Prosecutor's Suspension
(DBN)

More trigger bans loom as 1 in 3 women lose most abortion access post-Roe • Why Freedom of Speech Is the Next Abortion Fight • Abortion 'desert' in US south is hurting Black women the most • The Surrogacy Industry Braces for a Post-Roe World • Yelp Will Issue Disclaimers on Crisis Pregnancy Centers • Is a Fetus a Person? An Anti-Abortion Strategy Says Yes. • Abortion Rises in Importance as a Voting Issue, Driven by Democrats
(DBN)

1 in 3 veterans say they've been arrested: research
(DBN)

Uvalde school board to consider firing district police chief
(DBN)

America's Fire Sale: Get Some Free Speech While You Can
(DBN)

Panicked migrant onboard bus heading to NYC from Texas called 911 where he said he and other passengers were 'being held against their will' and being forced to go to the Big Apple
(DBN)

Special prosecutor says Atlanta police officers in Rayshard Brooks' death 'committed no crimes' • Prosecutor Drops Charges Against Atlanta Cops Over Rayshard Brooks Shooting in Wendy's Parking Lot: 'A Different Incident Happened' Than What We've Been Told
(DBN)

Louisville Detective Takes Plea Agreement and Admits She Helped Falsify Parts of No-Knock Warrant that Led to Breonna Taylor's Death
(DBN)

Christian Postal Worker Who Says He Was 'Forced to Surrender' His Job Rather Than Work on Sundays Asks SCOTUS to Step in
(DBN)

IRS launches safety review after right-wing threats
(DBN)

Kim Kardashian's Paris hotel robber, who helped steal more than $10 million in jewelry from the reality star, blamed her for the heist: 'They should be a little less showy toward people who can't afford it'
(DBN)

A driver was asleep in an armored truck when burglars stole 22 bags of jewelry and other items worth millions of dollars from the vehicle, according to lawsuit
(DBN)

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Judges:

How Sonia Sotomayor Became the Conscience of the Supreme Court
(DBN)

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Wall Street:

Stock futures flat following the S&P 500′s third straight losing day
(DBN)

Wall Street dips as investors eye slowing economy
(DBN)

Dow plunges more than 600 points as US stocks suffer their biggest drop since June ahead of Fed conference
(DBN)

Asian shares fall on Fed worries after Wall Street sell-off
(DBN)

Goldman Faces June Trial in Massive Gender-Bias Class Action
(DBN)

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Layoffs:

Labor Department Probes Troubled Travel Startup Pollen Over Missed Paychecks
(DBN)

As layoffs loom, unemployment benefits look different from last year. Here's what to know
(DBN)

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Student Debt:

With student-loan payments set to resume in just over a week, lawmakers are making their last-ditch efforts to sway Biden's debt relief plans. Here's what they're saying.
(DBN)

Biden to Unveil Long-Awaited Student Debt Relief Measures on Wednesday
(DBN)

Student-loan borrowers in public service have just over 2 months to use a waiver that would bring them closer to relief. 117 Democratic lawmakers want Biden to extend it through next summer.
(DBN)

Student Loan Relief Seen Costing Billions and Favoring Top Earners
(DBN)

What's at stake with Biden's looming student loan announcement
(DBN)

Top economist Larry Summers recommends a way for Biden to forgive trillions in student debt—and it echoes what Sen. Elizabeth Warren says
(DBN)

25 People With Student Loans Revealed How Much Money They Currently Make, And It's Eye-Opening
(DBN)

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Agribusiness:

Some US Corn Plants Are So Dry They're Not Producing Ears of Grain
(DBN)

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Politics:

Confederate statue is bulldozed as mayor livestreams it, video shows. 'Not in my town'
(DBN)

Does Dr. Oz's Team Hate Him or Are They Just Bad at Their Jobs?
(DBN)

Women are registering to vote in Pa. in numbers far exceeding men since the Supreme Court abortion decision
(DBN)

Former Tennessee Speaker Casada arrested in corruption probe
(DBN)

Some of Trump's backers are helping Liz Cheney behind closed doors as she plots her next move
(DBN)

Jewish Democrat calls out Doug Mastriano's favorite social media site — and its users respond with anti-Semitic threats
(DBN)

Nancy Pelosi's husband Paul pleads guilty to one DUI charge after drunk California car crash
(DBN)

Inside the QAnon Queen's Cult: 'The Abuse Was Non-Stop'
(DBN)

"She's Sitting There With Rudy Giuliani": Fulton County Comes to Colorado
(DBN)

Joe Manchin is the least popular figure in latest NBC News poll
(DBN)

Liz Cheney's Winning the War • The Koch network and other Trump allies are quietly backing his biggest GOP critic: Rep. Liz Cheney
(DBN)

Rep. Jerry Nadler beats Rep. Carolyn Maloney in bitter New York House primary
(DBN)

Election Deniers Go Door-to-Door to Confront Voters After Losses
(DBN)

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Economy:

You may soon be asked to take a pay cut to keep working from home
(DBN)

'We need those office folks': Officials urge Biden administration to end silence on remote work
(DBN)

Fewer Americans are switching to new jobs: survey
(DBN)

The regret of Great Resignation quitters could be bosses' secret weapon to solving the exodus
(DBN)

72% of Economists Expect a Recession by Mid-2023: Survey
(DBN)

Wall Street CEOs warn recession is likely -- even as their own economists waffle
(DBN)

Quiet quitting is the latest workplace trend, but it doesn't mean what you think • How to 'quiet quit,' from a former teacher who did it for 2 years so she could enjoy a better life while still getting a paycheck
(DBN)

Comparing U.S. Federal Spending with Revenue
(DBN)

What's Hollowing Out the US Workforce?
(DBN)

White House Expects Slower Economic Growth in 2022 Than Originally Projected
(DBN)

Western sanctions are wounding but not yet crushing Russia's economy • Meltdown averted but six months on, Russians face economic pain • German gas storage now more than 80% full, even with Russia deliveries cut • Natural gas is the most important story to watch as Russia goes for 'mutually assured destruction' with Europe, a top RBC strategist says • Pain in Europe worsens with natural-gas prices up nearly 20% as Russia readies to shut down vital pipeline again • Bulgaria's return to Russian gas supply talks is 'inevitable' amid steep shortages, energy chief says • Russia's gas shutoff is forcing Germany's energy giant Uniper to fire up a mothballed coal-fueled power plant • European Gas Jumps on Concerns of Winter Supply Shortages • Germany's Uniper and Former Gazprom Unit Seek 92% of Gas Levy Relief • Europe's Fertilizer Industry Shrinks Again as Energy Chaos Bites • Sanctioned Billionaire's Superyacht Attracts 63 Bids at Auction • Russian Diamonds Are Quietly Flowing Again After Sanctions Chaos • European Power Prices Surge to Records Yet Again on Wind Dearth • How Much Is Power in Europe? It's Now Equal to Oil at $1,000 a Barrel • The EU banned Russian airlines, but Russian tourists are simply driving their luxury cars to Finland to kick off their European holidays • War hit to German economy will last years -economist
(DBN)

A recession will actually boost remote work
(DBN)

Fed seems to 'draw a line in the sand' on inflation, says JPMorgan, as danger of recession exceeds risk of inflation
(DBN)

Fed to slow to 50 bps hike in September; recession worries grow: Reuters poll
(DBN)

The Fed is very resistant to interest rate cuts and it could be years before they come down, Goldman Sachs chief economist says
(DBN)

U.S. economy slows again, S&P finds, due to high inflation and rising interest rates
(DBN)

Powell Is Not About to Go All Volcker on Rates at Jackson Hole, Goldman's Hatzius Says
(DBN)

Must We Suffer to Bring Inflation Down?
(DBN)

US Business Activity Contracts Again, Weakest Since May 2020
(DBN)

Global Economies Flash Warning of Sharp Slowdown
(WSJ)

Shrinking Output From Europe to Asia Feeds Global Recession Fear
(DBN)

DOT: Vehicle Miles Driven Decreased year-over-year in June
(DBN)

World food shortage going from 'bad to worse,' UN official says
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

New home sales fall 12.6% in July as rising prices take a toll • New Home Sales Decrease Sharply, Record Months of Unsold Inventory Under Construction • New Home Sales Decrease Sharply to 511,000 Annual Rate in July • U.S. new home sales dive to 6-1/2-year low; prices remain high • New Home Sales Tumble in July as Housing 'Recession' Deepens
(DBN)

Renting or owning: Which type of housing cost has increased more?
(DBN)

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

First-time buyers show more demand for mortgages, even as interest rates rise
(DBN)

Zillow Says Home Values Just Fell for the First Time in a Decade
(DBN)

Boise turns buyer's market
(DBN)

72% of recent homebuyers have regrets about their purchases
(DBN)

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Oil/Gas:

Gas prices drop 70 days in a row in the second-longest streak since 2005
(DBN)

'Limited' oil and gas capacity could send prices higher in 2023, analyst says
(DBN)

US Natural Gas Futures Hit $10 for First Time Since 2008 • U.S. Natural Gas Spikes 81% In 7 Weeks, Hits New 14-Year High
(DBN)

Chart: America's surge of spending on clean energy
(DBN)

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Education:

NC Lt. Gov. Mark Robinson mulls 2024 run, calls for taking science, history out of elementary schools
(DBN)

Conservatives in Idaho target 400 library books — but the library doesn't even own them
(DBN)

At This Rate, Let's Just Skip The Foreplay And Legally End Public Education
(DBN)

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Horse Racing:

Bankruptcy Court Approves Settlements in Zayat Cases
(DBN)

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Tech:

Ex-Twitter exec blows the whistle, alleging reckless and negligent cybersecurity policies • What the Twitter whistleblower could mean for Elon Musk's takeover deal • Twitter whistleblower won hacker acclaim for exposing software flaws • How Elon Musk could use the new Twitter whistleblower report in court
(DBN)

Twitter Wins Big in Court Battle Over Discovery Motions as Judge Says Elon Musk's 'Logic Is Faulty'
(DBN)

____________

Mass Torts:

3M awaits ruling on key PPE lawsuits
(DBN)

Forced Third-Party Releases: A Debate on How Mass Tort Claims are Handled
(DBN)

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Cosmetics:

Revlon's meme stock past is making it hard for it to go bankrupt as minority shareholders fight for a payout
(DBN)

____________

Crypto:

Crypto bankruptcies and how Canada's regulatory regime can help protect Canadian investors
(DBN)

Bankrupt Celsius crypto lender sues former manager for theft • Celsius countersues KeyFi, claims deceit and incompetence led to tens of millions in losses
(DBN)

Celsius Network's Bankruptcy Mess Gets Even Messier
(DBN)

Celsius calls out Prime Trust in court, alleging firm didn't turn over $17M in crypto
(DBN)

Singapore High Court Recognizes Three Arrows Capital Liquidation Order • Three Arrows liquidators get Singapore court nod to probe crypto fund
(DBN)

SEC Chairman Says Crypto Should Be Treated Same as Other Capital Markets
(DBN)

Billionaire investor Mark Cuban blasts the SEC's approach to crypto, calling chief Gary Gensler's recent comments 'BS'
(DBN)

Celsius, 3AC demonstrated why more financial activity needs to be on-chain
(DBN)

Impact of Crypto Winter on Bitcoin Miners
(DBN)

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New Bankruptcy Opinions
(10 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (23 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)

Executory Contracts:

Your Word is Your Bond: Fifth Circuit Court of Appeals Determines Surety Bonds are Not Executory Contracts Even Through Multiparty Approach in In re Falcon V, LLC
(DBN)

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Bankruptcy Rules:

Doomsday Preppers, Rules Edition: The Judicial Conference Introduces New Bankruptcy Rule 9038, Permitting More Flexibility During Emergency Situations
(DBN)

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Small Business:

The Future of Small Business Bankruptcies and Creditors' Committees After the SBRA: In re Bonert and In re Lear Capital
(DBN)

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Subordination:

You Can't Subordinate Me, I Am a Senior Secured Creditor, Right?
(DBN)

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Mediation:

Face-To-Face Discussions: Studies Show It's The Best And Most-Popular Way To Mediate
(DBN)

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Aviation:

ExpressJet Airlines Goes Bankrupt in Wake of Split From United • Former United Airlines partner ExpressJet files for bankruptcy • The newest regional airline in the US just ceased operations after only 10 months of flying
(DBN)

aha! Airlines Folds as ExpressJet Declares Bankruptcy • Aha! parent company's bankruptcy leaves customers with unusable tickets
(DBN)

SpiceJet Says It's Open to External Investors as Funds Dwindle
(DBN)

Gatwick flights cancelled at short notice due to staff sickness
(DBN)

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Climate:

The drying Danube River reveals explosive-laden WWII Nazi warships
(DBN)

SoCal facing "precarious situation" as water levels hit historic lows
(DBN)

Spanish Dams at 27-Year Low as European Energy Crisis Widens
(DBN)

Democrats Designed the Climate Law to Be a Game Changer. Here's How.
(DBN)

Biden's Inflation Reduction Act Seen Cutting Up To $1.9 Trillion In Climate-Related Economic Damage, Latest Analysis Finds
(DBN)

NM city, victim of government burn, now faces water shortage
(DBN)

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Movie Theaters:

AMC Entertainment could fall 81% as it is likely to resort to 'APE' dilution to pay down its debt, Wedbush says
(DBN)

Cineworld Short Seller Argonaut Says Shareholders to Get Nothing
(DBN)

Cineworld considers bankruptcy as cinema struggles continue
(DBN)

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Labor:

Independent unions are having a moment. But are they here to stay?
(DBN)

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Warehouses:

Red-Hot Warehouse Market Faces a Reality Test
(DBN)

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Retailing:

Macy's Lowers Expectations for the Year, Pointing to an Inventory Glut • Macy's Cuts Forecast on Inventory Glut, Inflation Pressures • Macy's keeps a firm grip on inventory in Q2
(DBN)

Bed Bath & Beyond downgraded at S&P
(DBN)

Bed Bath & Beyond Clinches Loan Deal
(WSJ)

Bed, Bath & Beyond Stock Surges On Loan Deal Report Following Cohen Exit • Bed Bath & Beyond Secures Loan Deal As It Tries To Stay Afloat: Report
(DBN)

Meme Stock's Big Bet on Bed Bath & Beyond
(DBN)

Is Bed, Bath & Beyond Headed to Bankruptcy?
(DBN)

Bed Bath & Beyond: Beyond Reorganization
(DBN)

Could Target and Walmart Be Beneficiaries From A Bed Bath & Beyond Bankruptcy?
(DBN)

3 things Gap needs to fix to turn its struggling business around
(DBN)

Top Amazon seller Packable begins liquidating and announces job cuts after failed SPAC attempt
(DBN)

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Healthcare:

Senior living, skilled nursing lead the way in healthcare bankruptcy filings
(DBN)

Carestream Health files for Ch. 11 bankruptcy protection • X-Ray Company Carestream, Once Owned by Kodak, Goes Bankrupt • Carestream Takes Next Step to Implement Previously Announced Recapitalization
(DBN)

See how much life expectancy declined in each state
(DBN)

Monkeypox starts to evade vaccines
(DBN)

____________

UK:

Britain's Labor Shortage Is Helping Drive Its Inflation Problem
(DBN)

UK Energy Crisis Could Knock Pound to $1.14, JPMorgan Warns
(DBN)

Iceland boss: Absence of government support on energy bills risks job losses and bankruptcy for firms
(DBN)

UK Petrol Prices Undergo Longest Slide Since 2020
(DBN)

Energy bills: Half of UK households face fuel poverty, EDF warns
(DBN)

Factories bearing the brunt of UK economic slowdown
(DBN)

____________

EU:

Euro falls below parity with the dollar. What's the impact?
(DBN)

As Ukraine war drags on, Europe's economy succumbs to crisis
(DBN)

Euro-Zone Consumer Confidence Rebounds But Stays Near Record Low
(DBN)

____________

Canada:

Canada cuts funding for an anti-racism initiative over its top consultant's 'vile' antisemitic tweets
(DBN)

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Russia:

Six months on, Ukraine fights war, faces painful aftermath • US: Russia looks to step up hits on Ukraine infrastructure • Ukraine warns of powerful response to Russian attacks • Americans Told to Get Out of Ukraine Amid Warnings of Russian Strikes, 'Radioactive Dust' • Germany to Provide Ukraine With More Than $500 Million in Aid • The Countries Pulling Their Weight in Ukraine Aid • Zelenskyy official says he regularly texted photos of dead Ukrainian children to officials around the world so they would send more help • Biden announces nearly $3B in new military aid for Ukraine
(DBN)

____________

China:

'Stuck in an ever-so-draining rat race': Burnout, apathy on the rise rise as China's youth face bleak job market
(DBN)

China tears down tower blocks in effort to boost stalling economy
(DBN)

Debts Mount with China's Prestigious Silk Road Project
(DBN)

China's property market is in freefall. What does this mean for the world economy?
(DBN)


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India:

Initiation of Corporate Insolvency Resolution Process by Financial Creditors – now a discretionary relief
(DBN)

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