December 2, 2022

The Daily Bankruptcy News

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Law:

Citing ‘overcapacity,’ Cooley lays off 150 lawyers and professionals Cooley Lays Off 150 Attorneys and Staff Across US Offices
(DBN)

Hogan Lovells lawyer says she was fired after defending Dobbs, discussing abortion impact and genocide
(DBN)

Paul Hastings partner wants Guo Wengui sanctioned for 'smear campaign'
(DBN)

Time to Lay Off Lawyers or Scale Up?
(DBN)

Biglaw's Biggest Problem (According To Associates)
(DBN)

The (Sometimes) Lonely Side Of In-House
(DBN)

Prominent Bankruptcy Litigation Pair Joins Boies Schiller
(DBN)

Nicotine addiction costs vaping trial lawyer more than $2,100
(DBN)

Trainees spill the beans: from geeky colleagues to bullying partners
(DBN)

The divorce lawyer who's represented Johnny Depp, Kim K, and Angelina Jolie charges $1,000 an hour and says tough love is how she gets things done
(DBN)

Texas attorney caught on camera trying to shoot ex-girlfriend at Austin bar
(DBN)

Lawyer dispenses brutally honest cycling fashion advice
(DBN)

Devastated dad of butchered Idaho student reveals chilling new details about her death Authorities say they don't know if slaughtered Idaho students were 'targeted'
(DBN)

Uvalde School Shooting Survivors File $27 Billion Class Action Lawsuit Against Local Officials, as Mother Sues Gun Manufacturer over Daughter's Death
(DBN)

Rep. Gaetz's former associate sentenced to 11 years for sex trafficking, other crimes
(DBN)

'Fire them all': Mike Lindell's 'vision' as RNC chair is to ax all lawyers over the 2020 election
(DBN)

Trump Org criminal tax fraud trial heads to closing arguments
(DBN)

Oath Keepers Member Accused in Jan. 6 Capitol Attack Opts Out of Having a Lawyer, Tells Judge He Will Represent Himself AG Merrick Garland Takes Rare Victory Lap After Oath Keepers Seditious Conspiracy Verdict in Historic Jan. 6 Case
(DBN)

Appeals court orders end to special master review process in Trump documents case Trump Loses Bid to Keep Special Master in Mar-a-Lago Files Case
(DBN)

Trump company tax fraud trial nears end in battle over who to blame Trump Organization’s Last Play in Tax Fraud Case: Pin It on the Fall Guy Trump lawyer pins blame on ex-CFO as criminal tax fraud trial nears end Trump Company Prosecutors Failed to Show Intent, Defense Argues
(DBN)

Trump Accuser Urges Court to Reject Immunity in Defamation Case
(DBN)

Kari Lake's Lawyers Lose Election Suit, Win Sanctions. Well Played, Dersh!
(DBN)

Federal Judge Pauses Sanctions Payments to Defendant in Donald Trump's Dismissed Racketeering Lawsuit Against Hillary Clinton
(DBN)

'Hotels Were His Trap': Prosecutor Displays Image of Prowling Wolf to Illustrate 'Predator' Harvey Weinstein in Closing Volley of Sexual Assault Trial
(DBN)

Jeffrey Epstein’s Notorious Island Will Be Sold While Ensuring It Won’t Be Used for 'Illicit Purposes,' $105M Virgin Islands Settlement Reveals
(DBN)

Boy, 10, shot mom dead because she refused to make Amazon purchase: cops
(DBN)

SPLC Sues DeSantis for Martha's Vineyard Flights
(DBN)

California Water Thieves Getting Away with It
(DBN)

Beverly Hills Cop Paid $716,000
(DBN)

San Antonio Cop Charged with Attempted Murder
(DBN)

Man pardoned by former Kentucky Gov. Matt Bevin convicted in first of 3 strangulation cases
(DBN)

Philadelphia Man Known by Neighbors for ‘Completely Unhinged’ Behavior Accused of Cutting Off Wife's Head
(DBN)

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Judges:

Ex-New York Top Judge Still Gets State-Funded Chauffeurs Despite Bouncing From The Job
(DBN)

Diversity Matters: A Study On Federal Judiciary Diversity Goes About As You'd Expect Here’s how federal judges think about diversity in hiring law clerks
(DBN)

Federal Judges All But Admit Yale Law School Boycott Was A Ruse And The School Fell For It Hard
(DBN)

'This Is One of Those Rare Cases': In Unusual Move, Justice Ketanji Brown Jackson Pens Dissent After Black Death Row Inmate's Execution
(DBN)

U.S. Senate panel deadlocks on abortion rights lawyer's judicial nomination
(DBN)

Same-Sex Marriage Returns to Supreme Court in Web Designer’s Free Speech Bid
(DBN)

______________

Wall Street:

Stocks meander in build up to key U.S. jobs report
(DBN)

US stocks will retest this year's lows in the first half of 2023, and that sell-off along with 3 other factors will force the Fed to pull back on rate hikes, JPMorgan says
(DBN)

Goldman Jolts Traders With Bonus-Cut Warning After Bumper Haul
(DBN)

It Took Two Tries to Quit Finance. Now She’s Selling Harleys to Commuters
(DBN)

BofA Says Sell Equities Rally Ahead of 2023 Unemployment Shock
(DBN)

______________

Layoffs:

CNN gave its staff 24 hours to worry and stress about looming layoffs. Some experts say it's actually the right thing to do CNN boss Chris Licht guts HLN amid cost-cutting bloodbath
(DBN)

RMF files for Chapter 11 bankruptcy, lays off 500 workers
(DBN)

Wells Fargo Cuts Hundreds More Mortgage Employees on Industry Slowdown
(DBN)

SiriusXM to Cut Staff in Response to Faltering Growth in Revenue
(DBN)

Credit Suisse Is Cutting a Third of Debt Sales Positions
(DBN)

Uber CEO Says Won’t Cut Jobs Despite Mounting Tech Layoffs
(DBN)

______________

Waste:

RANA contractor declares bankruptcy, new company to take over amid recycling pick up delays
(DBN)

____________

Banking:

US Banks Flock to ‘Last Resort’ Funding Option as Deposits Wane
(DBN)

Credit Suisse Shares on Worst Run Since 1989 as Losses Deepen
(DBN)

____________

Autos:

Fisker Cash Access Limited by Guarantees, Short Seller Says
(DBN)

____________

Tech:

Macron Attacks Elon Musk for Ending Moderation on Twitter Elon Musk says Ye suspended from Twitter following swastika post
(DBN)

Ye is no longer buying Parler
(DBN)

UBS Cuts IPhone Forecast by 16 Million on Covid, Demand Issues
(DBN)

____________

Politics:

Local Officials Tried to Subvert US Midterm Vote, Stoking 2024 Concerns
(DBN)

Did Gerrymandering Give GOP the House Win?
(DBN)

New Hampshire’s Sununu Says Trump Too Extreme for White House Comeback
(DBN)

Herschel Walker Leans Into His Georgia Football Icon Status Ahead of Runoff 'Thought he was going to beat me': Herschel Walker hit with disturbing claims by yet another accuser Herschel Walker’s stumbles complicate final stretch of his runoff bid Which party will win the 2022 U.S. Senate election in Georgia?
(DBN)

Alex Jones Hosts Kanye and Fuentes Kanye West praises Hitler, says every human has value, 'especially Hitler' House Judiciary GOP finally deletes tweet praising Kanye West after he tells Alex Jones he likes Hitler
(DBN)

Gavin Newsom's reparations task force considers $569 billion recommendation that could see all descendants of slaves in California receive $223,200 for ‘housing discrimination’ – in nation’s biggest ever restitution effort
(DBN)

Lawyer and co-defendant behind robocalls with false ballot information are ordered to register voters
(DBN)

Indicted Colorado County Clerk's Deputy Agrees to Testify Against 2020 Election-Denying Boss in Voting Machine Data Breach Trial
(DBN)

US Declassifies Bush-Cheney Post 9/11 Interviews
(DBN)

AZ: Judge Forces County to Certify Election Votes
(DBN)

____________


Economy:

ISM® Manufacturing index Declined to 49.0% in November
(DBN)

U.S. Treasury yields mixed as traders await key U.S. jobs report
(DBN)

November Employment Preview
(DBN)

Food Prices Decline for Eighth Month Easing Inflation Pressures
(DBN)

Global Economy Must Start Bracing for Low Inflation, Rajan Says
(DBN)

Personal Income increased 0.7% in October; Spending increased 0.8%
(DBN)

Key Charts Show Global Inflation Peaking Near Double Digits
(DBN)

Weekly Initial Unemployment Claims decrease to 225,000 Continuing US Jobless Claims Rise to Highest Since February
(DBN)

Jay Powell explains America's worker shortage
(DBN)

US Labor Market to Cool Further But Not Enough Yet to Assure Fed
(DBN)

Powell’s ‘Most Important’ Inflation Indicator Is Cooling Down
(DBN)

November job growth slowed but still expected to show strength despite layoffs, hiring freezes
(DBN)

Fed’s Williams Says Policy Makers Have  a Ways to Go Before Rates High Enough
(DBN)

Fed’s Bowman Sees Rates Moderating Soon But Higher Peak Level
(DBN)

Can central banks go bankrupt? The perils of high interest rates after QE
(DBN)

Key inflation gauge shows price increases slowed in October
(DBN)

US recession odds are 'extremely elevated' and a downturn is likely to hit within the next year, chief economist says
(DBN)

Zandi Claims US Will Avoid Recession
(DBN)

The likelihood of a U.S. recession jumps to 38% in a new Bloomberg report
(DBN)

Markets 'completely ignored' Powell's balanced inflation remarks and are not pricing in key risks, Mohamed El-Erian says
(DBN)

Biden's "made in America" push alienates allies
(DBN)

The EU leadership has reportedly settled on a $60-a-barrel cap for Russian oil prices — but now it has to get its members to agree Nutrien sees shortfall on Russia and Belarus woes European Gas Jumps as Lower Temperatures Set to Increase Demand OPEC+ to consider deeper oil output cuts ahead of Russia sanctions Seizing Russian Yachts, Mansions to Get Easier With Draft EU Law China Is Snapping Up Russia Oil Even as Price Cap Talks Continue
(DBN)

Rail strike likely averted as labor bills head to Senate Senate Leaders Strike Deal for Quick Vote to Avert Rail Strike Senate moves to avert rail strike amid dire warnings Why Railroads Refuse to Give Workers Paid Leave
(DBN)

Florida Will Pull $2 Billion of Assets From BlackRock Over ESG
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

Fannie Mae: Mortgage Serious Delinquency Rate Decreased in October
(DBN)

Rents Falling Faster than "Seasonality Alone"
(DBN)

US Mortgage Rates Extend Slide, Giving Homebuyers Some Relief
(DBN)

Construction Spending Decreased 0.3% in October
(DBN)

Your Next House Could Be Made on an Assembly Line
(DBN)

A housing market correction will take a long time and prices need to fall as much as 20% in the next few years to return to their historical trend
(DBN)

Fed’s housing market ‘reset’ has officially set off the second-biggest home price correction of the post-WWII era
(DBN)

Blackstone to Limit Withdrawals From Giant Real Estate Fund
(DBN)

Lava from Mauna Loa less than 4 miles from key highway!
(DBN)

Steve Croman: I was duped by predatory lender: In bankruptcy court, notorious landlord claims victimhood
(DBN)

____________

Municipalities:

PREPA judge approves one-week delay for restructuring proposal
(DBN)

Legal push to cut Puerto Rico power company debt delayed
(DBN)

No Rescue For Chicago From U.S. Supreme Court—This Time (In re Mance)
(DBN)

____________

Oil/Gas:

Gas prices are now cheaper than before Russia invaded Ukraine
(DBN)

Biden Proposes Overhaul of US Biofuel Law to Boost EV Makers Like Tesla
(DBN)

Saudi Oil Exports Drop as Shipments to US and China Plunge
(DBN)

OPEC Slashes Oil Output by Most Since 2020 to Fulfill New Pact
(DBN)

____________

Religion:

The Vatican Is Buzzing With Conspiracy Theories as Hackers Take Down the Pope’s Website
(DBN)

____________

Celebs:

‘Braxton Family Values’ Star Towanda’s Bankruptcy Thrown Out After Creditor Accuses Her Of Hiding Income
(DBN)

Katie Price 'blew £45million fortune on gruesome surgery, men and cringe shopping sprees'
(DBN)

____________

Bankruptcy Crimes:

Former Seattle area resident convicted of conspiracy and multiple counts of mail and wire fraud plus various bankruptcy fraud counts
(DBN)

____________

Gambling:

How an Arizona Lobbying Frenzy Helped Sports App Bookies Write Their Own Rules
(DBN)

____________

Crypto:

Big Law’s Crypto Bet Is Paying Off—Just Not How Lawyers Expected
(DBN)

Here's what Sam Bankman-Fried thinks about all those Madoff comparisons U.S. Trustee requests Bankruptcy court to appoint FTX Examiner FTX was the 'fastest' corporate failure in US history — Trustee calls for probe U.S. authorities asking FTX investors for information on firm and Bankman-Fried Inside Sam Bankman-Fried’s Bahamian penthouse after FTX’s fall Sam Bankman-Fried says he 'got a little cocky' before FTX collapsed Does B stand for Bankman-Fried or Bankruptcy? Sam Bankman-Fried said parents’ $16.4M Bahamas house was meant for FTX staff Sam Bankman-Fried was 'delusional' about how FTX collapsed and the culpability he deserves, Mike Novogratz says Cramer Rips 'Total Con Artist' Sam Bankman-Fried said that if he'd spent 'an hour a day' thinking about risk management FTX might not have collapsed Bankman-Fried Says He Wasn’t Aware of Improper Use of FTX Funds A journalist who interviewed Sam Bankman-Fried about FTX's collapse said it 'felt like a therapy session' for the crypto mogul Sam Bankman-Fried Keeps Talking, A LOT, Against Advice Of Counsel Kevin O'Leary, Bill Ackman Slammed for Defending Sam Bankman-Fried — 'I Think SBF Is Telling the Truth' Crypto mystery: What has happened to FTX’s missing billions?
(DBN)

Sam Bankman-Fried ‘Wasn’t Even Trying’ to Manage Risk at FTX, He Says
(WSJ)

FTX Bankruptcy—What Could Be Next for the Industry?
(DBN)

Bankruptcy Filings Among Crypto Exchanges: Is This a Sign of the Future?
(DBN)

Capitol Hill Presses Crypto Exchanges Post-FTX Bankruptcy
(DBN)

Factbox-Crypto companies crash into bankruptcy
(DBN)

New York’s Financial Services Regulator Moves to Bill Crypto Firms for Supervision FTX’s Rapid Demise Stokes US Fight Over Who Will Regulate Crypto Exchanges
(DBN)

Lawmakers who benefited from FTX cash set to probe its collapse
(DBN)

Bank of Korea's Rhee 'Not So Sure' About Digital Currencies
(DBN)

Crypto Industry a Disaster in Need of Rebranding, UK Lawmaker Says
(DBN)

Bitcoin Set for More Losses in Wake of FTX’s Collapse if History Is a Guide
(DBN)

Mark Mobius predicts bitcoin could crash 40% to $10,000 next year
(DBN)

Crypto Exchange Zipmex To Get $100 Million Venture Capital Buyout
(DBN)

Binance Probes a Crypto Exploit That All But Wiped Out a Token on Ankr Service
(DBN)

____________

 


New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (13 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (7 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)

Professional Compensation:

How Ch. 11 Ruling Ends War Between National, Local Rates
(DBN)

____________

Professional Employment:

How Many Connections are Too Many? Bankruptcy Court Finds Multiple Attenuated Connections Not Enough to Warrant Disqualification of Debtors’ Professional
(DBN)

____________

Corporate Governance:

Thoughts for Boards: Key Issues in Corporate Governance for 2023
(DBN)

____________

Aviation:

Rolls-Royce uses hydrogen produced with wind and tidal power to test jet engine
(DBN)

Heathrow Airport Strikes Planned on the Eve of Christmas Getaway
(DBN)

____________

Retailing:

Party City Restarts Talks With Creditors as Cash Pile Dwindles
(DBN)

Dollar General Cuts Profit Forecast on Supply-Chain Woes
(DBN)

Amazon CEO responds to antisemitic content promoted by Kyrie Irving being available to purchase on the platform: 'We have hundreds of millions of customers with lots of different viewpoints'
(DBN)

____________

Healthcare:

Admission for traumatic injury associated with higher medical debt, bankruptcy filings
(DBN)

Troubled jail medical provider files for bankruptcy
(DBN)

Youths, Minorities More Often Infected Without Covid Shots, Study Says
(DBN)

Indiana AG Demands Sanctions For Doctor Who Pointed Out That Forcing A Child To Carry Rapist's Baby Is Barbaric
(DBN)

____________

Climate:

Hurricanes in the Atlantic Inflict $110 Billion in Losses This Year
(DBN)

Experts warn 'doomsday scenario' for Colorado river basin possible in 2023
(DBN)

Drought-Parched California Cities to Get Little Relief Next Year
(DBN)

Global Central Banks Brace for ‘Greenflation’ and Climate Change
(DBN)

____________

Trucking:

Tesla to Expand Vehicle Lineup With Delivery of First Semi Truck
(DBN)

____________

Rail:

Federal Judge Approves Soloviev Group Purchase of San Luis & Rio Grande Railroad
(DBN)

____________

Fraud:

‘The more you submit, the more we get paid’: How fintech fueled covid aid fraud
(DBN)

____________

Tax:

IRS Watchdog Clears Ex-Commissioner of Impropriety in 'Random' Audits of Trump Foes Andrew McCabe and James Comey
(DBN)

____________

Education:

School officials burned out by 'bananas' MAGA parents who think they're trying to inject kids with microchips: survey
(DBN)

Florida sheriff angry school kids no longer fear having their behinds 'torn off'
(DBN)

____________

Food/Beverage:

Winc files for bankruptcy following declining sales Online Wine Club Winc Files for Bankruptcy a Year After Going Public
(DBN)

____________

Nursing Homes:

As legal obligations mount, another religious group abandons the nursing home business
(DBN)

____________

Transit:

NYC’s Top Transit Cop Retires Amid Mayor’s Push to Combat Subway Crime
(DBN)

____________

Pharma:

Pharmacy Owner in Deadly 2012 U.S. Meningitis Outbreak Gets 1 Year in Prison
(DBN)

____________

Student Debt:

Justice Department announces new guidance for handling bankruptcy discharge of federal student loans DOJ, DOE announce process for handling cases where individuals seek to discharge federal student loans in bankruptcy
(DBN)

U.S. Supreme Court to hear Biden's bid to reinstate student debt plan
(DBN)

____________

Sovereigns:

IMF to Press  China on Emerging-Market Debt Help as Worry Mounts
(DBN)

Sri Lanka Seeks to Avoid Local Debt Recast, Semasinghe Says
(DBN)

Pakistan Poised to Pay $1 Billion Bond as Default Risk Lingers
(DBN)

Ghana Overhaul a Test for $1 Billion World Bank-Backed Debt
(DBN)

____________

UK:

Metamorph group in crisis as official receiver appointed
(DBN)

UK Union Warns of Cash Shortage Over Christmas Due to Strike
(DBN)

Vulnerable Britons Unable to Afford Energy May Unplug From Grid
(DBN)

British royal family embroiled in another racism scandal Royal Racism Scandal Emerges Ahead of Harry and Meghan’s Netflix Documentary
(DBN)

TotalEnergies to Slash UK North Sea Investment on Windfall Tax
(DBN)

Bleak Friday Compounds UK Retailers’ Excess Inventory Problem
(DBN)

____________

EU:

Lagarde Leads a Chorus Warning That Inflation Has to Be Anchored
(DBN)

Biden: U.S. focus on job creation won't come "at the expense of Europe"
(DBN)

ECB’s Lane Says Rising Incomes Will Help Europe’s Economy Grow
(DBN)

The U.S. wants the EU to be strict with China. But Europe can’t afford it
(DBN)

____________

China:

Evergrande’s Hui Sends Voice Message as Rumors Swirl About Him
(DBN)

Sunac Works Toward $9 Billion Offshore Debt Restructuring
(DBN)

The historic protests in China are just the start. Unless Xi Jinping can fix the economy, his problems are just going to get worse.
(DBN)

Germany's Borgward brand declared bankrupt in China
(DBN)

China’s 2023 F1 Grand Prix Will Not Take Place Due to Covid-19
(DBN)

____________

Russia:

Biden, appearing with Macron, zeroes in on holding Russia accountable Biden, Macron Want to Talk to Putin on Ukraine
(DBN)

____________

Mexico:

Mexico Posts $5.35 Billion Record Remittances From Workers Abroad
(DBN)

____________

India:

India Seeks to Roll Back States’ Ability to Borrow More
(DBN)

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