August 30, 2022

The Daily Bankruptcy News

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Law:

Cravath is entitled to nearly $75M as a contingency fee in failed-merger litigation, judge rules
(DBN)

What Lawyers Think of Their Employers' Russia Response
(DBN)

Prosecution Calls Alex Murdaugh Case 'Unprecedented in South Carolina History,' Combining 'Violent Crime' and Law License 'Corruption' at Level Never Seen
(DBN)

A Who's Who of Silicon Valley Lawyers Up for the Musk-Twitter Trial
(DBN)

Are Stealth Layoffs Ahead? Firms Are Threatening To 'Rightsize'
(DBN)

A Short Defense Of Jones Day
(DBN)

Michigan Law Professor Alleges Race, Sex, Family Status Bias
(DBN)

91-Year-Old Elite Law School Grad Took Out $29,000 In Student Loans, Owes $329,309
(DBN)

'Probably the worst day of my legal career,' says lawyer for Infowars founder in testimony on mistaken revelations
(DBN)

This City Has The Happiest Biglaw Associates
(DBN)

When Nine Are Not Enough: Where Are The Female Law School Deans?
(DBN)

Law firm leadership and the 'Lemonade' conference
(DBN)

Lawyer who moved from Ukraine to US now has opportunity to help others facing similar situations
(DBN)

Pro- and anti-abortion groups clash at California Planned Parenthood clinic
(DBN)

Federal jury awards $100M to man paralyzed in fall after Atlanta officer shocked him with stun gun
(DBN)

Shootings spiked during the pandemic. The spike now looks like a 'new normal'
(DBN)

Judge Signals 'Preliminary' Intent to Side with Trump's Lawyers After Mar-a-Lago Search Due to 'Exceptional Circumstances Presented' by Case US: Review of possibly privileged Trump papers already over DOJ Response Raises Doubts on Trump 'Special Master' Request Judge Gives Prosecutors Twice as Many Pages to Respond to Trump's Request for Special Master Following Mar-a-Lago Search DOJ says review of seized Trump documents is done, suggests request for watchdog came too late Ex-Trump Attorney Warns Trump May Have Already 'Given Away' Sensitive Info DOJ finds 'limited' items covered by attorney client privilege at Mar-a-Lago DOJ Says 'Limited' Set of Seized Trump Records May Be Privileged Trump's Legal Team Scrambles to Find an Argument ABC's Jon Karl Reports Trump's Inner Circle is Freaking Out Over Their 'Comically Inept and Inexperienced' Legal Team Document Inquiry Poses Unparalleled Test for Justice Dept. Why Trump's Documents Case Is Really Just Like a Drug Prosecution Former top DOJ official: Graham warning of 'riots' if Trump is prosecuted 'incredibly irresponsible' Unsealed Mar-a-Lago search warrant affidavit reveals the government has no case against Trump Watergate prosecutor: DOJ will be closely watching national security damage assessment of Mar-a-Lago documents Poll: Republican voters rally behind Trump despite Mar-a-Lago search Warren: Trump could be putting American lives at risk Trump Encourages FBI Agents to Go 'Nuts' and Not 'Take it Anymore' Over Mar-a-Lago Raid This key affidavit detail indicates the DOJ has one source very close to Trump: reporter White House: Intelligence officials' review of Trump documents is "appropriate"
(DBN)

Merrick Garland may have two paths to filing charges against Trump: report
(DBN)

Federal Judge Throws Out 'Conjectural' Arizona Lawsuit That Demanded Ban on Electronic Voting Machines
(DBN)

Trump legal team advances broad view of presidential powers
(DBN)

Judge rejects bid by Gov. Kemp and Trump attorney Chesebro to quash subpoenas Judge delays Kemp testimony in Georgia election probe until after midterms Trump 'Entanglement' Weakens Graham Push Against Testifying in Probe, Atlanta D.A. Says DA asks judge to deny Graham effort to quash Georgia subpoena Fulton County DA Urges Court Not to Be a 'Rubber Stamp' for Lindsey Graham: Quashing Subpoena Would Render Senator a 'Super-Citizen'
(DBN)

'I deserve to know the truth': Capitol Police Officer Harry Dunn is ever-present at Jan. 6 hearings Proud Boy sentenced to over 4 years for Jan. 6 actions Proud Boy who approached Schumer on Jan. 6 sentenced to 55 months in prison Bartender and Proud Boys Member Gets Longest Prison Sentence to Date Among Jan. 6 Defendants Convicted Solely of Obstruction Conservative Lawyer Who Formerly Represented Kyle Rittenhouse Tees Up Potential Fourth Amendment Issue in Jan. 6 Case Secret Service official at center of explosive Jan. 6 testimony retires from agency
(DBN)

Father of Duke volleyball player says she called crying after facing racial slurs at BYU game
(DBN)

Cop Who Shot Man in Wheelchair 9 Times From Behind Was Just Indicted
(DBN)

Louisville corrections officer fired after appearing in video mocking police and Breonna Taylor's death
(DBN)

Gunman with AR-15-Style Rifle Launched Deadly Attack on Grocery Store in Oregon: Cops Police: Heroic Safeway employee confronted gunman in store Ex-classmates recall Safeway gunman as angry, liked to fight
(DBN)

Man Who Posed as New England Patriots Player to Buy 'Family Versions' of Tom Brady Super Bowl Ring Gets Years in Prison
(DBN)

'Straight Pride' march outside abortion clinic clashes with 200 protesters
(DBN)

Parents ask federal judge to block Florida schools from carrying out 'Don't Say Gay' law
(DBN)

Women race political clock, cross state lines for abortions
(DBN)

Ban on gender-affirming procedures for transgender youths is sex discrimination, 8th Circuit says
(DBN)

Cubans flee in largest numbers in four decades, reaching U.S. by air, land and sea
(DBN)

Containers are no hindrance for migrants on Arizona border
(DBN)

Group displays Nazi symbols on Florida bridge
(DBN)

Vanessa Bryant's $16 million victory could be a final blow to LA County Sheriff Alex Villanueva after years of scandal, say expert and county watchdog
(DBN)

Desperate People Are Turning to Illegal Online Pharmacies for Birth Control
(DBN)

______________

Judges:

Vacancy Announcement – U.S. Bankruptcy Court for the Northern District of Oklahoma, Clerk of Court
(DBN)

Billy Eichner rips Clarence Thomas, 'homophobes on the Supreme Court' at MTV VMAs
(DBN)

Trump Judge Grants Warrant Motion On Grounds Of Vibes, Man, All Vibes
(DBN)

Fencing around Supreme Court removed, building is still closed
(DBN)

______________

Wall Street:

Dow futures pop 200 points after back-to-back losing sessions on Wall Street
(DBN)

Dow closes 100 points lower as sell-off continues, Treasury yields surge
(DBN)

Morgan Stanley's Wilson Sees Earnings, Not Fed, as Stocks Threat
(DBN)

Rally Hopes Crumble as Powell's Rates Reality Hits Full Force
(DBN)

Goldman Sachs' healthcare team is bleeding bankers as the junior ranks bemoan longer-than-usual hours and weaker bonus checks
(DBN)

______________

Layoffs:

Former Armstrong Execs Seeking $4.5M in Severance & Unpaid Benefits
(DBN)

______________

Lighting:

Apollo's Lumileds Files for Bankruptcy in $1.3 Billion Debt Plan
(DBN)

____________

Climate:

Study: Greenland ice melt will raise sea levels by nearly a foot
(DBN)

The great drought and the great deluge, all at the same time
(DBN)

California Bakes as US West Faces Record High Temperatures California Sizzles as US West Faces Record High Temperatures
(DBN)

California seeks to build on federal climate advances
(DBN)

Jackson, Mississippi, is without reliable running water after river rises to dangerous level Mississippi state capital has no "reliable running water" after flood
(DBN)

Crews hope to halt an Oregon wildfire before heat and wind cause disaster
(DBN)

Hurricane Alley Hasn't Been This Quiet in a Quarter Century
(DBN)

Jackson mayor urges residents to 'get out now' as Mississippi braces for river flooding after record rainfall
(DBN)

Enormity of Pakistan floods viewed from space Floods Ravage Pakistan Leaving 1,000 Dead, $10 Billion in Damage UN to seek $160 million in emergency aid for Pakistan floods Pakistan fatal flooding has hallmarks of warming Pakistan floods leave wrecked lives, half million in camps Deadly Floods Devastate an Already Fragile Pakistan
(DBN)

All of England's South West Is Now Officially in Drought
(DBN)

China's Sichuan Pivots From Historic Drought to Flood Warnings
(DBN)

____________

Healthcare:

White House effort to stave off fall COVID surge with new boosters faces uphill battle
(DBN)

Paid sick leave associated with lower mortality rates among US workers
(DBN)

California advances medical misinformation bill
(DBN)

Biden admin strikes $11 million deal to fund monkeypox vaccine production
(DBN)

Why more people are enrolling in Medicare Advantage plans
(DBN)

New CDC report: Hawaii had the highest life expectancy in America in 2020
(DBN)

The rich are using long-term care funds meant for the poor
(DBN)

How polio returned to the US
(DBN)

Why Most Life Long Smokers Don't Get Cancer
(DBN)

____________


Economy:

Powell's message at Jackson Hole shows the Fed won't pivot from its rate hike policy even if inflation continues to fall, former Fed president Thomas Hoenig says The Fed is at risk of tightening policy too much and it's not clear what inflation indicators Powell is watching, Wharton's Jeremy Siegel says
(DBN)

Fed's Soft Landing Hinges on Job Market Doing Something Strange
(DBN)

'Inflation Fever' Is Finally Breaking — But Central Banks Won't Stop Hiking Rates
(DBN)

Fed's QT to Hit 'Full Stride' With Central Bank Shrinking $9 Trillion Portfolio
(DBN)

Rate hikes won't bring down inflation as long as spending stays high, paper says
(DBN)

For job searchers, $20 per hour is the new $15
(DBN)

Fewer Americans say they are living paycheck to paycheck as inflation begins to ease
(DBN)

64% of consumers worry about shrinkflation. Here's what to watch for
(DBN)

Millions of Americans struggling to keep lights on
(DBN)

Dealmakers wince at Jay Powell's "economic pain"
(DBN)

Treasury Two-Year Yields Rise to 15-Year High on Hawkish Outlook
(DBN)

Four High Frequency Indicators for the Economy
(DBN)

Investors should buy commodities as the risk of a recession remains low over the next year, Goldman Sachs says
(DBN)

Texans Pay Higher Local Taxes Than Californians - Except for the 1%
(DBN)

Democrats peg inflation to corporate greed on campaign trail
(DBN)

Immigrants are key to addressing America's labor shortage, lowering inflation, and growing our economy
(DBN)

In Europe, energy crisis drives growing cutbacks EU Plans Emergency Intervention to Stem Surging Power Prices White House Concerned About Energy Shortage Threat in Europe Europe's soaring energy costs push leaders to consider major steps Europe's benchmark power prices break above 1,000 euros for the first time amid regional energy crisis European natural gas prices plunge 21% in their steepest decline since March as latest rally 'overshot fundamentals' Europe may be forced to ration energy for years and it's a 'fantasy' to think it will be easy, Shell CEO says EU Plans Emergency Intervention to Stem Surging Power Prices French Industry May Face Energy Rationing, PM Warns Dismayed by images of Russians relaxing on European beaches, Ukraine pushes for ban on tourist visas Uniper Seeks 4 Billion Euros From State Lender as Liquidity Deteriorates The Options and Challenges for Europe's Emergency Power Plan Emergency EU Plan to Tame Power Prices Will Take Weeks to Devise Europe Nears Gas Storage Target Early Despite Russian Supply Cut European Energy Prices Plunge as EU Plans to Intervene in Crisis
(DBN)

Russia Confounds the West by Recapturing Its Oil Riches
(WSJ)

Black Americans feel disproportionate pain from high interest rates
(DBN)

Businesses strike back as DeSantis criticizes corporate America
(DBN)

It now costs more than $300,000 to raise a child, thanks to inflation
(DBN)

With Abbott's Border Crackdown, New Mexico Looks to Take Texas Trade With New Port
(DBN)

These are the hardest working states in America: report
(DBN)

Sotomayor denies NYPD detective's plea to block vax mandate
(DBN)

The Container Ship Backlog Outside Los Angeles Ports Is Almost Cleared
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

US mortgage lenders are starting to go bankrupt — how this one factor could be triggering the worst surge of failures since 2008
(DBN)

Goldman Says US Housing Downturn Has Further to Go as Rates Rise
(DBN)

30-Year Mortgage Rates Pushing 6% Again
(DBN)

Fixed mortgage rates will fall to 4.5% in 2023, Fannie Mae estimates
(DBN)

Pace of Rent Increases Continues to Slow
(DBN)

Framing Lumber Prices Up Slightly Year-over-year
(DBN)

Housing Inventory August 29th Update
(DBN)

____________

Oil/Gas:

The Global Gas Crisis Is Spilling Into The United States
(DBN)

Oil Prices Hit $104 On New Supply Scare
(DBN)

Virginia AG says state bound by California rule phasing out new gas-powered cars
(DBN)

Honda and LG Energy Solution to build $4.4 billion EV battery plant in U.S.
(DBN)

____________

Climate:

Floods in Pakistan Kill Over 1,000
(DBN)

____________

Autos:

Norwegian Tesla Owners Plan Hunger Strike Over Broken Cars
(DBN)

____________

Cannabis:

Marijuana use hits record high in new Gallup poll
(DBN)

Fetterman calls on Biden to decriminalize marijuana
(DBN)

____________

Transit:

Vanishing bus routes
(DBN)

Germany's Ultra-Cheap Train Ticket Saved 1.8 Million Tons of CO2
(DBN)

____________

Crypto:

Why Is Bankrupt Crypto Lender Celsius Rallying?
(DBN)

Crypto Lender Hodlnaut Placed Under Interim Judicial Management by Singapore Court
(DBN)

46% of Americans who have invested in cryptocurrency say it's done worse than expected
(DBN)

FTX and Binance Next in Line to Buy Voyager Assets after Coinbase Says no
(DBN)

Mt. Gox creditor refutes reports on dumping 150,000 bitcoin
(DBN)

Where in the world are the 3AC founders? Speculation abounds
(DBN)

Turkey Says Fugitive Crypto CEO Arrested in Albania Over Fraud
(DBN)

Ex-bond star who switched to crypto career is unfazed by layoffs
(DBN)

____________

Retailing:

Amazon Seller Packable to Shut Down in Bankruptcy After SPAC Deal Sinks
(WSJ)

Alex and Ani secures multimillion-dollar loan
(DBN)

____________

Tech:

Musk Subpoenas Twitter Bot Whistle-Blower in Buyout Dispute
(DBN)

Musk sends second Twitter deal termination letter
(DBN)

____________

Labor:

Company Tells Employees: Work 'Voluntary' Overtime or Go to Jail
(DBN)

The Bitter Fight For Unions at Starbucks, One Year Later
(DBN)

____________

Politics:

Republicans Signal Worries About Trump and the Midterms Here are the signs Republicans' hopes for a 'red wave' are receding ahead of the 2022 elections
(DBN)

The polls are telling a new story about Democrats and the midterms
(DBN)

Democratic candidates are hesitant to campaign with Biden despite recent win streak
(DBN)

40% Believe Civil War Coming in Next Decade
(DBN)

The Rising Cost of Republicans' Investment in Trump
(DBN)

Biden to give prime-time speech on 'soul of the nation' as voters prepare to cast midterm ballots
(DBN)

When an election denier becomes an election chief
(DBN)

Team Biden's dour mood eases as gas prices fall
(DBN)

Same-sex marriage puts Ron Johnson in a bind
(DBN)

Kinzinger says GOP defense of Trump 'hypocrisy'
(DBN)

Trump demands to be declared 'rightful winner' of 2020 election in new attack on FBI Trump demands reinstatement as 'rightful' president or 'a new Election, immediately!' as some Republicans seek distance from him
(DBN)

Trump's Second Term Would Look Like This
(DBN)

Truth Social's ugly truth
(DBN)

___________

 


New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (18 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (5 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)

Ch. 13:

Are Pre-Petition Arrearage Balloon Payments Permitted?
(DBN)

____________

ERISA:

ERISA Protection From Creditors Shown To Have Substantial Weaknesses In Greebel
(DBN)

____________

Mass Torts:

Bankrupt Infowars parent company will face second Sandy Hook defamation trial
(DBN)

3M Appeals Bankruptcy Court Refusal to Halt 230,000 Earplug Suits
(DBN)

Bankruptcy as MDL escape hatch? Not so fast, judge tells 3M in 'surprise' decision
(DBN)

3M Company: Many Red Flags, Not Just Litigation
(DBN)

____________

Third Party Releases:

Another Delaware Bankruptcy Court Approves Third-Party Releases and Opt-Out Mechanisms Amidst Disagreements with Other Circuits
(DBN)

____________

UCC:

Florida Supreme Court: No Safe Harbor for UCC Errors
(DBN)

____________

Education:

School districts move to ease teacher stress, burnout
(DBN)

Teachers union, Elizabeth mayor battle publicly over who controls the school district
(DBN)

The worst-paying states for teachers
(DBN)

Nearly 70% of LA teachers have seriously considered quitting, study finds
(DBN)

What if Americans sour on public education?
(DBN)

____________

Student Debt:

Here's how much student loan forgiveness you'll receive, and when you'll see it
(DBN)

Getting Out From Under: Student Loans and Bankruptcy, Explained
(DBN)

Student loan relief limited for many by US drug war's legacy
(DBN)

White House faces legal questions with student loan forgiveness plan
(DBN)

'Black Swan' Author Taleb Says Colleges Should Bear Student Debt Forgiveness
(DBN)

Education Dept. looks to help FFEL borrowers excluded from forgiveness
(DBN)

Will student loan forgiveness make inflation worse? Here's what economists say
(DBN)

Student debt experts say $10,000 isn't enough specifically for Black borrowers
(DBN)

AOC Presses Biden To Cover All Of Cost Like He Said He Would
(DBN)

Our work reforming student loans is far from finished
(DBN)

Nancy Pelosi should hold Biden accountable for his 'unconstitutional and illegal' student-loan forgiveness, 94 GOP lawmakers say
(DBN)

A Student Loan Forgiveness Bonus
(WSJ)

____________

Fitness:

TRX Acquired By Founder In Bankruptcy Proceedings
(DBN)

____________

Guns:

Feeling unwelcome in blue states, gun companies move to red ones
(DBN)

Democrats send letter to company offering buy now, pay later firearms financing
(DBN)

In new gun law, a quiet breakthrough for victims of abuse
(DBN)

____________

Sovereigns:

Pakistan Says IMF Approves $1.17 Billion Bailout to Avert Near-Term Default
(DBN)

Sri Lanka's president to cut spending in interim budget Japan is coordinating with Sri Lankan creditors to address the debt crisis Sri Lanka Raises Taxes, Announces Reforms to Win IMF Aid
(DBN)

____________

UK:

The UK's £12 Billion Energy Aid Package May Be About to Jolt Inflation's Path
(DBN)

British Pubs Say They'll Go Bust Without Urgent State Support
(DBN)

____________

EU:

ECB's Lane Cautions Against Bigger Rate Hike to Curb Inflation
(DBN)

Euro-Area Confidence Dips to 19-Month Low as Recession Nears
(DBN)

____________

MENA:

In the Taliban's Afghanistan, the near-broke central bank somehow still functions
(DBN)

One year on, Afghan refugees find shelter but little security in US
(DBN)

____________

Singapore:

Singapore's Restructuring and Insolvency Regime Is a Tool for Local and International Companies
(DBN)

____________

Russia:

Hacks, attacks and grandkids: Russia's disinformation strategy
(DBN)

Ukraine launches counteroffensive to retake Russian-occupied Kherson Ukrainian forces begin 'shaping' battlefield for counteroffensive, senior US officials say Ukrainian troops take back 4 villages from Russian occupation Ukraine's south is on the line as a major counteroffensive appears to be underway What are the West's strategic goals in the Ukraine war? Eyes on Kherson as Ukraine claims bold move on Russians
(DBN)

UN agency to inspect Ukraine nuclear plant in urgent mission Satellite images show holes in the roof of a building at the Ukrainian nuclear-power plant Russian troops have been using as a shield
(DBN)

____________

Chile:

World's Hottest Economy Goes Cold as Chileans Run Out of Money
(DBN)

____________

China:

China's dim prospects turn disastrous
(DBN)

China's ICBC Sees Slower Profit Growth Amid Loan Pressure
(DBN)

As China's property crisis grows, is the global economy at risk?
(DBN)

China's Largest Developer Sees Record 96% Interim Profit Slump
(DBN)

China's Biggest Developer Says Property Crisis Has Yet to Bottom
(DBN)

China's AgBank Says Overdue Loans From Mortgage Boycott Double
(DBN)

China Is Battling Its Broadest Covid Outbreak Yet
(DBN)

____________

France:

France taxman deploys AI spy to spot hidden swimming pools
(DBN)

____________

India:

Lenders need to be more aware of interim finance needs of stressed businesses
(DBN)

Affixing Liability: Lifting the Corporate Veil Under Insolvency Law in India
(DBN)

Related Party Financial Debt under IBC - Exclusion from the CoC and impact of assignment
(DBN)

India Blew Up Apartments Worth $87 Million to Send a Message
(DBN)

____________

Mexico:

Creditors Sue Mexico's TV Azteca Over Unpaid Debts
(DBN)

____________

Italy:

Many companies in Italy near Bankruptcy as result of energy crisis
(DBN)

____________

South Korea:

SsangYong's rehabilitation plan earns the approval of the Seoul bankruptcy court
(DBN)

____________


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