December 29, 2022

The Daily Bankruptcy News

View prior editions: Click Here
View prior case summaries: Click Here
Search prior headlines: Click Here
Search prior case summaries: Click Here

Format For Mobile Device



Law:

Top 3 New Year's Resolutions For Lawyers
(DBN)

Another legacy for Tom Girardi: Tighter regulation of California lawyers
(DBN)

California Bar Went After Black Attorneys For Minor Violations While White Attorneys Stole Millions From Clients
(DBN)

Extreme Punishment: The Chilling True Story Of Dan Markel's Murder
(DBN)

Free Speech Rules, Free Speech Culture, And Legal Education
(DBN)

Cassidy Hutchinson transcript reveals new low for Trump World Hutchinson says Meadows burned documents during transition Mark Meadows Threw Documents Into White House Fireplace, Ex-Aide Testified Cassidy Hutchinson Testified She Saw Mark Meadows Burn Docs in White House Fireplace, Worried He'd Spark a 'Fire in the West Wing' Trump White House aide told Jan. 6 panel Meadows burned documents a dozen times in transition period Jan. 6 response would have been 'vastly different' if rioters were Black, House sergeant at arms told investigators Judge says Trump may have been urging supporters to 'do something more' than protest on Jan. 6 Factbox-Four highlights from testimony released by the Jan. 6 committee ‘You Should Resign’: Trump Cabinet Secretary Testified Bill Barr Told Him ‘Get Out of There’ After Jan. 6 Judge Rejects Alleged Jan. 6 Rioter’s Defense, Citing House Panel’s Findings
(DBN)

Donald Trump's Fear Of A Criminal Indictment Creeps Closer Over Christmas
(DBN)

Republicans Step Up Attacks on F.B.I. as It Investigates Trump
(DBN)

Judge orders another long prison term in Gov. Whitmer plot The co-leader of the plot to kidnap Michigan Gov. Whitmer went on an anti-government rant the night before he was sentenced to 19 years in prison
(DBN)

New Biden administration guidance closes ‘ghost guns’ loophole in federal rule
(DBN)

Defining ‘woman’ battle heads to states amid new wave of LGBTQ bills
(DBN)

Citing ‘woke culture,’ Chemours director resigns over abortion benefits for employees
(DBN)

Border, what border? Huge hole is cut in El Paso barrier to let migrants pour through - with desperate crossers also digging holes and using sewers to sneak into Texas Biden Border Woes Drag Into 2023 as Supreme Court Clouds Migrant Policy
(DBN)

Supreme Court asked to bar punishment for acquitted conduct
(DBN)

A Texas Jail Taped a Comedy Central Roast of a Murderer. Now, SCOTUS Will Decide Whether the Footage Could Be Used to Sentence Him to Death.
(DBN)

Students Expelled for 'Ku Klux Klan Starter Pack' Instagram Posts 'Obviously' Have No First Amendment Protection, Appeals Court Rules
(DBN)

Police rule out Idaho professor suing TikToker over allegations in student slayings Texas TikToker Insists a Jury Will Take Her Side in Defamation Case by Idaho Professor Over Stabbing Deaths of University Students
(DBN)

New York Dad Told Kids to 'Keep Your Seat Belt On' Before Running Down Their Mother with SUV, Then Stabbing Her: Prosecutors
(DBN)

Man fatally shot on Christmas Eve after being mistaken for a burglar, police say
(DBN)

______________

Judges:

Trump Legacy Is Supreme Court’s ‘Nostalgia Doctrine’
(DBN)

Where Republicans Prefer To Shop For Their Court Forums
(DBN)

Supreme Court Shadow Docket Is Showing -- Once Again -- Its Contempt For Consistency When It Stands In The Way Of Their Political Goals
(DBN)

Conservative Supreme Court once again looms as threat to Biden agenda in 2023
(DBN)

______________

Wall Street:

 

Wall Street’s Top Stars Got Blindsided by 2022 Market Collapse
(DBN)

______________

Layoffs:

Heal plans layoffs ahead of potential sale
(DBN)

Goldman CEO Solomon Says Staff Cuts Are Coming in January
(DBN)

______________

Cannabis:

Is legal weed doomed to be run by big business?
(DBN)

____________

Utilities:

More than 90,000 along the West Coast are without power
(DBN)

Big Growth in Electric Heat Set Stage For Blackouts in US South
(DBN)

Winter Storm Elliott Highlights Vulnerability Of U.S. Energy Systems
(DBN)

US Energy Regulator Opens Probe Into Winter Storm Blackouts
(DBN)

Top US Gas Producer EQT Saw Output Drops of 30% During Cold Snap
(DBN)

____________

Climate:

National Guard checks homes in Buffalo for storm victims Buffalo store owner opens fire on looters - while frozen body of dad-to-be is found after he went out to buy supplies for nine-month pregnant wife - as city reels from worst storm this century The Storm’s Victims: an Expectant Parent, a Doting Daughter, a Refugee Buffalo Couple Keeps Stranger’s Dead Body in Living Room During Snowstorm Buffalo Mayor’s ‘Embarrassing’ Storm Response Prompts Calls For Resignation
(DBN)

A ‘Once in a Generation’ Storm. What’s the Role of Climate Change?
(DBN)

Here Come the California Floods
(DBN)

Winter weather upends water systems across the Deep South
(DBN)

Woman died in car just six minutes from home
(DBN)

Spain records hottest year ever in 2022
(DBN)

Six Climate Breakthroughs That Made 2022 a Step Toward Net Zero
(DBN)

____________

Politics:

Santos struggles in Fox News interview about lying and integrity What Happens to George Santos Now? George Santos, Under Fire for Apparent Fabrications in Life Story, Is Being Scrutinized by Multiple Prosecutors New York prosecutor looking into Rep.-elect George Santos, citing 'fabrications and inconsistencies' Santos Scandal Has No Parallel
(DBN)

DeSantis aide used private email address to feed longtime pal advice for winning migrant flights contract
(DBN)

Trump told aides to say he'd 'make many calls and have many meetings' after discovering weeks before he left office that his schedule was partly public
(DBN)

Biden signs bill to remove bust of Dred Scott decision author from Capitol
(DBN)

'You blew it': Woman dumps QAnon because Q and Steve Bannon ignored her 'transmissions' with aliens
(DBN)

Hutchinson: Marjorie Taylor Greene discussed QAnon with Trump, Meadows
(DBN)

DeSantis' Culture Wars Cost $17 Million
(DBN)

Republicans Ramp Up Anti-ESG Campaign for 2023
(DBN)

The Most Dangerous Book in Dallas
(DBN)

____________

Fraud:

U.S. seeks 6 years in prison for college admissions fraud mastermind ‘Varsity Blues’ Mastermind Deserves Six Years in Prison, US Says
(DBN)

____________

Retailing:

Amazon Begins Drone Deliveries in Texas, Calif.
(DBN)

____________

Accounting:

Why So Many Accountants Are Quitting
(WSJ)

____________

Auto Racing:

Ron Devine ordered to make payments in BK Racing bankruptcy
(DBN)

____________

Religion:

Months after bankruptcy, Chattanooga's Venue Church reaches deal to sell property
(DBN)

____________


Economy:

Delinquencies, charge-offs at major credit card issuers highest since mid-2021
(DBN)

Holiday-related debt soars to an eight-year-high 24%
(DBN)

Consumers kept the economy hot in 2022. Now they’re losing steam
(DBN)

Brace for the Fed to steer the US into recession, Nouriel Roubini has warned. Here's where 'Dr Doom', Sam Zell, and 3 other top experts think the economy will suffer.
(DBN)

S&P 500 In 2023: Brace For A Fed Pivot
(DBN)

Toomey bill would cut Fed’s 12 regional banks to 5
(DBN)

Fed outlook: Rate cuts in 2023 or 2024?
(DBN)

Global economy is heading into a decade of low growth, economist says
(DBN)

The global economy could be about to suffer its weakest year since the financial crisis as war in Ukraine drags on
(DBN)

Most 'recession-proof' jobs in 2022
(DBN)

COVID-19 learning loss could cost pandemic students $70K in lifetime earnings: study
(DBN)

Dow headed back below 30,000, slim chance of soft landing for economy in 2023: CNBC CFO survey
(DBN)

Ship Insurers’ Exodus From Russia-Ukraine Trades Gathering Pace Gazprom Gas Exports at Lowest This Century on Capped Flows to EU Germany’s RWE Secures 15 Years of Texas LNG From Sempra Russia Leaves Its Options Open for a Tougher Response to Oil Cap Putin attempts to undermine oil price cap as global energy markets fracture Ukraine announces arrest of oligarch in upscale French ski resort after accusing him of financial crimes Russian ruble slides to level not seen since April as Moscow concedes sanctions are squeezing the economy Russian labor shortage bites economy in November, unemployment at record low Russia's Mishustin says economy shrank by over 2% in 2022 Russians Who Fell to Their Deaths in 2022 Kazakhstan Seeks Capacity to Pipe Crude Oil to Germany Japan Insurers to Continue Russia Shipping Coverage, Kyodo Says
(DBN)

Back to the Future of Work: Three Predictions for Productivity in 2023
(DBN)

It's a Make-or-Break Year for These Battered Companies
(DBN)

More than 2K millionaires fled New York during COVID pandemic: IRS data
(DBN)

Ten Economic Questions for 2023
(DBN)

US Immigrants Generate 36% of Nation’s Innovation, Study Finds
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

The US real estate industry is being upended by historic inflation, soaring interest rates, and a looming recession. 2 experts at Goldman Sachs explain how.
(DBN)

NAR: Pending Home Sales Decreased 4.0% in November, Year-over-year Down 37.8% US Pending Home Sales Fall to Second-Lowest Level on Record Home Sales Fall 4% in November, Way Below Forecasts and the Sixth Monthly Decline in a Row
(DBN)

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

Homebuilder Analyst Who Nailed 2022 Call Now Sees Strength Ahead
(DBN)

Government spending bill to halt abuse of tax incentives for land conservation
(DBN)

____________

Municipalities:

Proposed PREPA debt plan prompts debate
(DBN)

____________

Oil/Gas:

Exxon Mobil sues to try to block Europe windfall tax.
(DBN)

____________

Pensions:

Teamster Pension Bailout May Not Be Remedy Employers Hoped For
(DBN)

State Pension Plans Hammered, Will Get Worse
(DBN)

____________

Crypto:

Chasing the Crypto: Why a Ruling in the Madoff Case May Significantly Expand the Universe of FTX Clawback Defendants
(DBN)

Sam Bankman-Fried to enter plea in FTX fraud case FTX Co-Founder Sam Bankman-Fried to Enter Plea Next Week The Sam Bankman-Fried-backed crypto Solana has lost nearly all its value this year and is still crashing as key projects bail Solana Tumbles Again, Bringing Crypto Token’s 2022 Plunge to 94% Solana Founders Scramble to Move Past FTX’s Stain on Their Token Sam Bankman-Fried finds sympathy from Bahamians after the FTX implosion - but local rules make it very unlikely they were ever invested in crypto Sam Bankman-Fried's FTX saga keeps getting weirder as new details shed further light on how much his company's finances overlapped Big Short author to bring rise and fall of Bankman-Fried to big screen DOJ launches criminal investigation into cyberattack that drained more than $370 million of assets from FTX after it filed for bankruptcy After FTX's spectacular collapse, where does crypto go from here? FTX Users Sue for Priority Repayment and Damages in Bankruptcy Proceedings FTX Lawsuit Says Burned Users ‘Should Not Have to Stand in Line’ With Other Creditors Sam Bankman-Fried’s Power Was Contingent on Belief Alameda wallets become active days after SBF bail, community mulls foul play
(DBN)

From GameStop to Coinbase: Crypto Rout Sours NFT Bets
(DBN)

Crypto Customers Sell Claims at a Loss to Avoid Bankruptcy Wait
(DBN)

Kraken Shutting Down Crypto Exchange in Japan Citing Weak Global Crypto Market
(DBN)

Alameda Research Liquidated Ether-Based Token Holdings for Bitcoin in Past 24 Hours, On-Chain Data Shows
(DBN)

Inside Core Scientific’s Prearranged Bankruptcy
(DBN)

Celsius wants to extend the deadline for claims as lawyer fees mount
(DBN)

Canaan expects minor revenue drop in 2022 despite crypto mining crisis
(DBN)

Why Is Bitcoin Miner Argo Blockchain Suspending Trading On NASDAQ? UK's Argo Blockchain shares soar on deals to avoid bankruptcy Argo Blockchain sells top mining facility to Galaxy Digital for $65M
(DBN)

What to expect from crypto the year after FTX Here’s how we see 2023 shaping up for crypto…
(DBN)

Bitcoin Retreats Further Into the Gloom
(DBN)

Bitcoin bears well positioned for Friday's $2.5 billion options expiry
(DBN)

Crypto Trader’s Fraud Charges Show DeFi Isn’t Outside the Law
(DBN)

____________

Tech:

Big Tech's $4.5 Trillion Wipeout
(DBN)

Elon Musk’s Crash Course at Tesla
(DBN)

____________

Banking:

Small Utah Banks Take Predatory Lending National
(DBN)

____________

Hedge Funds:

Stock Hedge Funds Erase Billions With Another Year of Losses
(DBN)

____________

Customer Service:

Karens for Hire
(DBN)

____________

Tax:

IRS Announces That Payment Apps Will Not Have To Issue Form 1099s For People Who Received More Than $600 In 2022
(DBN)

____________

Theme Parks:

Walt Disney World vacations land some people in debt, study shows
(DBN)

____________

Labor:

Starbucks Refused Union Contract Talks at 21 Cafes, NLRB Says
(DBN)

____________

 


New Bankruptcy Opinions
(11 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (8 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (2 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:

U.S. bankruptcy numbers could see an uptick in 2023
(DBN)

______________

Mass Torts:

As deadline looms, California's institutions face thousands of childhood sexual abuse claims
(DBN)

Survivors of priest abuse OK settlement from Archdiocese
(DBN)

Hess Beats Challenge to Virgin Islands Unit’s Asbestos Bankruptcy Filing
(WSJ)

____________

Bankruptcy Research:

One-Year Return is a Powerful Bankruptcy Predictor
(DBN)

____________

Bankruptcy Strategy:

Turnaround and Performance Improvement Strategies with Kobus van der Zel
(DBN)

____________

Aviation:

Southwest ruined holiday flying almost all by itself, data shows Inside Story Southwest Cancellations Continue to Snowball Far from a shock, Southwest meltdown was 'perfect storm' of well-known vulnerabilities Southwest Airlines flight cancellations continue to snowball More Mass Cancellations as Southwest Struggles to Untangle Travel Meltdown More than 2,700 flights canceled as Southwest struggles persist The real reason behind Southwest Airlines' post-Christmas meltdown Southwest got billions from taxpayers. So why all this? ‘System failure’: US blames Southwest Airlines for meltdown I got stuck in Southwest's holiday meltdown. My 'quick' trip took 41 hours, I never made it to my destination, and I don't know when I'll see my bag again. Buttigieg pledges 'extraordinary effort' as Southwest Airlines cancels more flights Southwest Air’s Lagging Tech Investments Exposed in Wintry Chaos Southwest Airlines faces growing federal scrutiny after Christmas cancellations Southwest cancellations continue as rival carriers cap fares to help stranded flyers Airline passengers face extraordinarily high ticket prices amid flight cancellations Has Southwest Airlines Finally Crossed the Line? Southwest Air’s CEO Tells Workers ‘I’m Accountable’ for Crisis
(DBN)

Milan Reports 50% of Passengers in Flights From China Have Covid Italy orders Covid screening for all arrivals from China Italy Has Not Found New Covid Variants in Tests on Recent Arrivals From China China's sudden pivot on Covid restrictions sparks global jitters U.S. will require airline passengers traveling from China to test negative for Covid Chinese are snapping up flights abroad as Beijing drops more travel restrictions CDC Warns on Travel to China India Brings Back Covid Tests for Flyers From Some Asian Nations Here Are the Places Imposing New Covid Rules for China Travelers
(DBN)

Portuguese Minister Resigns Over TAP Payment to Airline’s Board Member
(DBN)

Garuda Indonesia hopes to resume trading shares after issuance of $80 mln sukuk
(DBN)

____________

Autos:

Used Tesla prices drop nearly 20% as flippers can’t find buyers Tesla’s Worst-Ever Year Brings $17 Billion Windfall for Shorts
(DBN)

Carmakers will reverse out of public markets
(DBN)

Rivian Plant Slammed for Economic Deal
(DBN)

____________

Healthcare:

Madera Community Hospital to close Friday, labor and delivery stop immediately
(DBN)

U.S. records 100 million Covid cases, but more than 200 million Americans have probably had it
(DBN)

____________

Sovereigns:

Venezuela’s 9-Cent Bonds Lure a Distressed-Debt Veteran
(DBN)

Ghana: Debt Restructuring: New proposal still falls short of creditors’ demands
(DBN)

Pakistan to seek US help to secure $13bn loans at Geneva meet
(DBN)

____________

UK:

2022 Set to Be the Warmest Year on Record for Britain
(DBN)

UK’s Sunak Braces for ‘Massive Disruption’ From Planned Strikes
(DBN)

A long-term illness crisis is threatening the UK economy
(DBN)

How UK House Prices Could Fall by 30%
(DBN)

UK Consumers Vow to Cut Eating Out and Non-Essential Shopping
(DBN)

Britain’s Youngest Workers Are Too Sick to Work
(DBN)

____________

EU:

Borders closed as tensions rise again between Kosovans and Serbs Serbs Agree to Unblock Roads in Kosovo But Tensions Still Simmer
(DBN)

____________

Canada:

Laurentian University's secured creditors paid in full
(DBN)

____________

Russia:

Massive Russian missile barrage pummels cities across Ukraine Rockets target Ukrainian civilians as Russia falters and Kyiv tries to shore up support Russia Fires Heavy Salvo on Ukraine, Ruling Out Peace Talks Ukraine’s air force claims it destroyed 54 Russian cruise missiles out of 69 launched
(DBN)

US presses Russia on 4-year anniversary of Paul Whelan’s detention
(DBN)

Biden administration working to halt Iran from delivering drones to Russia
(DBN)

No More “Chicken Kiev” for Ukraine
(DBN)

Hundreds forced to flee Kherson after fresh wave of Russian attacks on recently liberated city
(DBN)

Hard-Line Positions by Russia and Ukraine Dim Hope for Peace Talks
(DBN)

____________

China:

China Fortune Land to raise US$1.78 billion from asset sales to repay creditors
(DBN)

China Stocks Retreat as Covid Outbreak Renews Growth Fears China, HK stocks fall as fears grow of knock-on virus surges
(DBN)

China’s business mood shows post-Covid economic recovery has a long way to go
(DBN)

China CDC Will Estimate Excess Covid Deaths Amid Data Doubts
(DBN)

____________

North Korea:

US bans imports from companies accused of using forced North Korean labor
(DBN)

____________

Hong Kong:

Hong Kong abandons last Covid curbs to revive economy Hong Kong Business Group Warns Long Road Ahead After Covid Shift
(DBN)

Hong Kong Exports Drop Most in Almost 7 Decades on Global Slump
(DBN)

____________

Cuba:

‘You lose hope’: Cuban exodus to US largest in island’s history
(DBN)

____________

India:

CBIC to taxmen: Reduce GST demand for insolvency cases CBIC asks taxmen to recover lower dues from firms under insolvency
(DBN)

____________

MENA:

Bibi Puts Priority on West Bank Settlements
(DBN)

Who’s the Divisive Politician About to Head Israel’s Finances?
(DBN)

Hundreds of US Rabbis Protest New Israel Govt
(DBN)

Jordan King Warns of Red Lines in Jerusalem
(DBN)

____________


The Daily Bankruptcy News is primarily a curated news link gathering service.   Most of the headlines contained in the publication are a collection of links to stories posted on the Internet by various third party publications.  Such content is owned by third party sources, not The Daily Bankruptcy News, and in some cases, these links change or expire, which means you may not be able to view some news stories in prior editions of the Daily Bankruptcy News. The DBN subptption fee is not a fee for access to the content of the links, but is a charge for the considerable work involved in gathering, organizing and presenting the links. Use of this site and The Daily Bankruptcy News is subject to our Terms of Use. If you received The Daily Bankruptcy News via email (and you have a paid subscription account), to view a news story, click on the headline, and the story should open in your web browser. To view additional stories, click back to the email and click on additional headlines, which will cause new stories to open in your web browser.  You can view the most recent edition of The Daily Bankruptcy News on the web at BKInformation.com.

Advertising
Advertising is available in The Daily Bankruptcy News. Click here for details  Feel free to contact us with any questions.

Passwords/Subscriptions
Access to certain links in The Daily Bankruptcy News is available only to readers holding a paid service subscription. These links are currently marked with a "DBN" notation. The cost of a subscription is $74.00/year, payable annually.  Volume discounts are available for sites with multiple users. Click here to see a schedule of discounts. Complimentary subscriptions are available for full-time educational and governmental employees and for full time students. For information about discounts or educational/governmental subscriptions, contact us by clicking here. A separate password is required for each member of a firm wishing access to restricted links.

New readers can receive a free password good for 30 days by clicking here. 30-day passwords are not available to readers who have previously had a password, even if the password was associated with a different email address used by the reader. Refunds are not available after purchase.

Readers who wish to change their passwords should click here. Readers who have forgotten their password should click here.

Adding Your Email Address To The Distribution List
If you would like to start receiving The Daily Bankruptcy News by email each day, click here, and fill in the information requested. There is no charge to be placed on the distribution list to receive the headlines, although access to many of the links behind the headlines requires a paid subscription (see above, under Passwords). If, after adding your email address to the distribution list, you do not receive an email confirming the addition, please contact us by clicking here for help.

Removing Your Email Address From The Distribution List
If you already receive The Daily Bankruptcy News by email and you wish to remove your email address from the distribution list, click here and send the email that should appear. You do not need to type anything in the body of the email message. Note that the email asking for removal must be sent from the same email address which is on our distribution list. If you do not receive an email confirming deletion of your email address from the distribution list, contact us by clicking here for help.

If receive the publication forwarded from an older email address, you will need to contact us as described below for help removing that older address from our distribution list.

Press Releases/News Tips
Please send press releases and news tips to admin@bkinformation.com

Contact Us
The Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C. You can phone or text us at 281-402-3957. You can email us at accounting@bkinformation.com (email inquiries are usually answered substantially more quickly than phone inquiries). Our mailing address is 935 Eldridge Road, No. 350, Sugar Land, Texas 77478.

Copyright 2022