December 6, 2022

The Daily Bankruptcy News

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Law:

Biglaw Firms Leaking Profits Due To Write-Offs Are Pushing Lawyers To Bill Even More
(DBN)

Yeehaw! Texas Biglaw Firm Lassos Some New York Bonuses For Associates Elite Boutique Announces Bonuses That Blow Biglaw Out Of The Water Wilkinson Stekloff Boutique Tops Big Rivals With $172,500 Bonus These Bonuses Go Up To $115K: All The Law Firms That Have Announced 2022 Bonuses Top 100 Biglaw Firm Enters The Bonus Games With A Match -- Plus Even More Money For High Billers
(DBN)

Big Law’s Flat Bonuses Tell Associates the Boom Year Is Over
(DBN)

If recession comes, how will law firm ‘quiet quitters’ fare?
(DBN)

That Special Time Of Year Where We All Remember How To Spell 'Bockius'
(DBN)

Jones Day wants ex-associates sanctioned in paternity leave bias case
(DBN)

As underrepresentation of Asian American lawyers in top jobs continues, more are speaking out, new study finds
(DBN)

Lawyer Threatens Elon Musk's Personal Wealth In Epic Demand Letter
(DBN)

Las Vegas lawyer is disbarred for forming law firm with nonlaywer who did most of the legal work
(DBN)

Law Schools Leaving The U.S. News Rankings: Implications For This Year & The Future The Top Law Schools That Just Won't Quit US News
(DBN)

'It Is Now Time to Pay His Debts': Michael Avenatti to Serve More Than a Decade Behind Bars for $12M Fraud Against Four Clients
(DBN)

Ex-federal prosecutor Elie Honig says Trump calling for the 'termination' of the Constitution is 'wrong, crazy, and dangerous'
(DBN)

Proud Boys Leader Enrique Tarrio Wants Jan. 6 Seditious Conspiracy Charge Dropped Because Feds Won't Give Immunity to Defense Witness Capitol Police chief: Jan. 6 failures 'largely' fixed but extremism threat persists Capitol Police to Receive Congressional Gold Medals for Jan. 6 Inside the Texas Family That Invaded the Capitol
(DBN)

Trump faces peril in docs probe after decades of scrutiny
(DBN)

Trump Company Jury Begins Its Deliberations in Tax Fraud Trial
(DBN)

Manhattan DA hires ex-senior DOJ official as office investigates Trump
(DBN)

Giuliani faces D.C. ethics charges over 2020 election lawsuit Rudy Giuliani Snaps at Disciplinary Counsel and Claims He's Been 'Persecuted,' as Rowdy Testimony in Attorney Misconduct Hearing Kicks Off Giuliani defends 2020 election challenge at D.C. Bar hearing Rudy Giuliani Accidentally Wears 2 Watches To Disciplinary Hearing And That's Just The Beginning Of Things He Claimed Not To Remember! Rudy Giuliani 'Weaponized His Law License' to Attack Constitution He Swore to Uphold, D.C. Bar Says as Attorney Misconduct Hearing Begins
(DBN)

Supreme Court Rejects Conspiracy Theory-Laden Case Against Dominion Voting Systems
(DBN)

Rupert Murdoch set to be deposed in Dominion’s $1.6 billion defamation case
(DBN)

US Supreme Court leans toward web designer with anti-gay marriage stance Supreme Court Signals Support for Website Designer Opposed to Same-Sex Marriage Sotomayor Asks If Same-Sex Wedding Website Ban May Affect Interracial Unions
(DBN)

Supreme Court weighs 'most important case' on democracy
(DBN)

An Arizona cult leader accused of taking more than 20 women and girls as wives 'constantly' said he wanted to kiss and touch his underage daughter, FBI says
(DBN)

'Y'all put me in this cage?': 82-year-old Alabama grandmother said she was told by police officers 'not to cry' after they arrested her for not paying her trash bill
(DBN)

Tampa police chief placed on leave after bodycam video shows her flashing badge during traffic stop Tampa police chief resigns after traffic stop investigation
(DBN)

Police Captain Accused of ‘Humiliating’ Black Cops With Racist Rant Gets Suspended
(DBN)

Man charged with shooting Lady Gaga's dog walker sentenced to 21 years in prison
(DBN)

Serial Murderer Known as the 'Torso Killer' Admits to Murdering Five Women 'to Satisfy His Craven Desires' in the '60s and '70s: DA
(DBN)

'I Lost My Temper': Neighbor Allegedly Murdered Elderly Homeowner Association President and Her Husband After Laundry Room Dispute
(DBN)

James Toback is accused of sexual misconduct by thirty-eight women in bombshell lawsuit
(DBN)

Surviving roommates of four slain University of Idaho students break their silence
(DBN)

California man shoots neighbor’s dog dead for chasing squirrel into his yard
(DBN)

Oklahoma Prison Guard Had Personal White Supremacist Gang
(DBN)

Deputy Shot and Killed His Roommate — Another Deputy — in 'Extremely Dumb' Joke Attempt: Sheriff
(DBN)

What the data actually say about assault weapons
(DBN)

Congress working to strike last-minute immigration deals Bipartisan duo targets immigration reform during lame-duck Biden is heading south of the border
(DBN)

DeSantis Sued Over Migrant Flights
(DBN)

Temporary protections for Haitians in the U.S. extended by 18 months
(DBN)

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Judges:

Look Who's Taking a Crash Course in Crypto Bankruptcy
(DBN)

Troll, Whine, Repeat: Law School 'Free Speech' Strategy Ropes In State Supreme Court Justice
(DBN)

Lawyer Calls Judge Steering Litigation-Funding ‘Crusade’ Biased
(DBN)

Will a federal judge's smackdown of Kari Lake and Mark Finchem start a trend?
(DBN)

Justice Gorsuch Accuses Colorado of Forcing Christian Baker to Undergo ‘Reeducation Program’
(DBN)

Samuel Alito 'Joked' About Black Kids Wearing KKK Robes During Oral Arguments SCOTUS Arguments in Anti-Gay Marriage Web Designer's Case Filled with Questions About 'Hamilton,' JDate, Black Santa, and Kids in KKK Outfits Alito's mentions of Ashley Madison and children wearing KKK costumes cap an awkward Supreme Court day
(DBN)

Amy Coney Barrett Warns Gay Rights Case Has Future Consequences
(DBN)

A judge in Texas is using a recent Supreme Court ruling to say domestic abusers can keep their guns
(DBN)

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Wall Street:

Stock futures are little changed after Monday’s rout
(DBN)

SPACs Collapse as $11 Billion of Deals Are Called Off Within an Hour
(DBN)

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Layoffs:

GameStop begins layoff
(DBN)

AIG provides layoff notice, cutting 461 Amarillo workers from job
(DBN)

PepsiCo To Lay Off Hundreds After Price-Hikes As Consumer 'Strength' Questioned
(DBN)

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Banking:

Citigroup, Revlon lenders say three lenders ready to settle, with end in sight
(DBN)

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Fraud:

Michael Avenatti sentenced to 14 years in California fraud case
(DBN)

Ex-Harvard Coach, Telecom CEO Go on Trial in Admissions-Bribery Case
(DBN)

Mississippi revises demands on Favre in welfare lawsuit
(DBN)

Hackers linked to Chinese government stole millions in Covid benefits, Secret Service says
(DBN)

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Politics:

Incoming House Democratic leader Hakeem Jeffries says there's 'a real risk' that the new GOP majority in the chamber will be 'hijacked by the extremists'
(DBN)

"Don't want to be held hostage": GOP braces for chaotic speaker fight Senate GOP skeptical on McCarthy
(DBN)

Bipartisan coalition pushes for national strategy on antisemitism
(DBN)

Herschel Walker's Closing Message: 'I Don't Even Know What the Heck Is a Pronoun' Herschel Walker had ties to two charities that appear to have engaged in little, if any charity Chris Christie jokes Georgia’s Brian Kemp ‘first human being who ever dragged Herschel Walker over the goal line’ Republican hopes fade as Warnock momentum picks up in Georgia Sen. John Kennedy Urges Georgia to Pick Herschel Walker Instead of 'High IQ' People Five things to watch in the Georgia Senate runoff Why Democrats want a 51-49 majority
(DBN)

Trump comes clean: Says America should ‘terminate’ the Constitution Aren’t You All Tired of This Crap? White House calls on GOP lawmakers to reject Trump’s Constitution comments Pence pushes back on Trump’s call to terminate the Constitution Liz Cheney seizes on Trump’s call to terminate Constitution Musk blasts Trump: ‘Constitution is greater than any President’ Dems appalled by GOP’s silence on Trump’s ‘termination’ comments Murkowski on Trump call to suspend Constitution: ‘An affront to our Republic’ Donald Trump Is No Lover of the Constitution Trump insists he doesn’t want to ‘terminate’ Constitution Trump digs deeper hole with Constitution comments Thune: Trump call to terminate Constitution a ‘golden opportunity’ for 2024 rivals
(DBN)

Trump trails DeSantis and Cheney in Utah poll of possible 2024 GOP contenders
(DBN)

Trump Had Hidden $19.8 Million Loan From North Korea-Linked Company As President: Report
(DBN)

Top evangelicals are backing away from Donald Trump
(DBN)

Trump is losing altitude after GOP's midterm disappointment
(DBN)

DeSantis to offer VIP access to his inauguration — for $50K to $1M
(DBN)

Hawley, Cruz, Rubio emerge as champions of GOP populism amid Trump’s decline
(DBN)

Arizona certifies 2022 election results amid threat of more GOP challenges
(DBN)

McCarthy: ‘Adam Schiff will no longer be on the Intel Committee when I become Speaker’
(DBN)

How a Conservative Activist Invented the Conflict Over Critical Race Theory
(DBN)

Where Did Marjorie Taylor Greene Come From?
(DBN)

California's 'MAGA-led' Shasta County lurches further right
(DBN)

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Economy:

‘Huge, Missing and Growing:’ $65 Trillion in Dollar Debt Sparks Concern
(DBN)

US Dollar Erases More Than Half of This Year’s Gains on Fed Bets
(DBN)

The unavoidable crash
(DBN)

Q4 GDP Tracking: Around 1.5%
(DBN)

Investors Overseeing $5 Trillion Are Betting That an Economic Recession Can Be Avoided
(DBN)

Money Can't Buy US Consumers Delay From a Recession Forever
(DBN)

What Does World Economy Look Like Through 2075? Here’s What Goldman Sachs Thinks
(DBN)

Wharton professor Jeremy Siegel roasts Jerome Powell as the Fed continues to signal more rate hikes despite signs of falling inflation: 'I don't know what planet he lives on'
(DBN)

Gen Zers are taking on more debt, roommates, and jobs as their economy gets worse and worse
(DBN)

This little-known but spot-on economic indicator says recession and lower stock prices are all but certain
(DBN)

G7 price cap on Russian oil kicks in, Russia will only sell at market price Infographic: How much oil does Russia produce? The Worst of Europe's Energy Crisis Isn't Over. Electricity Blackouts Loom Russian Cruise Missiles Were Made Just Months Ago Despite Sanctions The West’s oil war with Russia gets real
(DBN)

People still afraid of catching COVID-19 are costing the U.S. economy billions of dollars
(DBN)

The Pandemic Has Created Two Very Different Kinds of Workplaces. That Especially Matters for Women.
(DBN)

No paid sick leave could spur rail worker exodus that ripples across economy
(DBN)

Biden relied on 96-year-old law and 1917 Supreme Court decision to impose railway labor agreement
(DBN)

US productivity is declining and employees are less willing to ‘engage in hustle culture,' as 1 in 5 Americans admit to doing the 'bare minimum'
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Black Knight Mortgage Monitor: Home Prices Declined in October; Down 3.2% since June
(DBN)

Lenders And Secured Creditors Have A New Partner: Receivers For CRE Defaults
(DBN)

A woman had to move out of her tiny home after 1 day because the city threatened to fine her $1,000 a day
(DBN)

Dune holdout in bankruptcy, failed to claim beach property on assets
(DBN)

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Municipalities:

Puerto Rico Inches Toward Self-Determination
(DBN)

American Dream mall draws on reserves again to meet debt obligations
(DBN)

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Oil/Gas:

Gasoline Prices Continue To Plummet In The U.S.
(DBN)

Calif. Goes After Big Oil with Profit Cap
(DBN)

Exxon Mobil raises CEO pay by 10 percent as oil giant makes huge profits
(DBN)

War on Fossil Fuels is Causing Chaos
(DBN)

2.1 million EVs and plug-in hybrids on U.S. roads, and here’s how much gas they’ve saved
(DBN)

What does the new price cap on Russian oil mean for consumers?
(DBN)

Renewables to become biggest source of electricity generation by 2025: IEA IEA: The Energy Crisis Will Accelerate Renewable Power Growth
(DBN)

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Celebs:

Boris Becker to return to Germany in time for Christmas: Tennis ace will be deported next week eight months into two-and-a-half year sentence for £2.5m bankruptcy fraud
(DBN)

Nike Ends Deal With NBA’s Kyrie Irving in Antisemitism Fallout
(DBN)

Hitler-Praising Kanye West's Latest Bonkers Rant Targets Elon Musk, Obama Kanye West falsely claimed Hitler invented the microphone. Most microphones in use today are thanks to James West, a Black inventor with over 250 patents to his name. Kanye West Is Dragging Far-Right Figures Into the Mainstream
(DBN)

Elon Musk's Long Year of Losing
(DBN)

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Crypto:

Coinbase CEO Brian Armstrong says it’s ‘baffling’ that Sam Bankman-Fried isn’t in custody Why Hasn’t Sam Bankman-Fried Been Arrested Yet? Sam Bankman-Fried vows to testify before House Committee on Financial Services over FTX collapse when he's 'finished learning and reviewing what happened' US House committee chair pushes back against SBF’s excuse to potentially delay testimony Maxine Waters Says Bankman-Fried Must Testify Next Week FTX Effort to Save Itself Failed on Questionable Assets Bankman-Fried Is a ‘Master of Deflection,’ Securities Lawyer Says Still the Face of Crypto Sam Bankman-Fried takes aim at FTX CEO John Ray in new interview
(DBN)

The Crypto Industry Struggles for a Way Forward
(DBN)

US bank Silvergate defends ties to Sam Bankman-Fried’s crypto groups
(DBN)

Goldman Sachs to Spend 'Tens of Millions' on Discounted Crypto Investments After FTX Implosion: Report Goldman Sachs looks for opportunities in crypto after FTX bankruptcy
(DBN)

The companies that helped create 2022’s ‘crypto winter’ The Four Horsemen of the Cryptocalypse
(DBN)

Bitcoin Sinks Further 70% in Standard Chartered List of Possible 2023 Upsets
(DBN)

Even the Winklevoss twins aren’t immune to the crypto crisis, with $900M of their customers’ money frozen in wake of FTX collapse
(DBN)

Binance sees 30% surge in trading activity on FTX implosion
(DBN)

Ordinary Investors Who Jumped Into Crypto Are Saying: Now What?
(DBN)

Zero Degrees Celsius: The Effects of a "Crypto Winter" and Celsius’ Bankruptcy on Crypto Customers Bankrupt Celsius, Customers Gear Up for Crypto Ownership Fight Celsius Seeks to Sell $18M of Earn Stablecoins in Bankruptcy Proceedings Bankrupt crypto lender Celsius gets court approval for extension to file restructuring plan Bankruptcy Judge to Decide If Celsius or Clients Own Crypto Celsius Judge Will Rule on Whether Lender Owns Customer Crypto Bankrupt crypto lender Celsius gets the go-ahead to hand out $2.8 million in bonuses to keep employees from quitting
(DBN)

Bitcoin's Stagnant Crypto Dominance Points to Investor Exodus After FTX Bankruptcy
(DBN)

2022 saw a series of crypto meltdowns that is reshaping the industry
(DBN)

Maple Finance severs ties with Orthogonal Trading over insolvency concerns
(DBN)

Crypto lender Nexo to quit United States
(DBN)

Britain finalizing plans for regulation of crypto industry
(DBN)

Regulation may be the only way out of crypto’s ‘Horrible Year’ Bank of America Says Regulation Is Key for Mainstream Adoption of Crypto
(DBN)

Aussie company brutally axes 35 per cent of its staff as one of the nation's biggest crypto success stories reels from worldwide FTX implosion
(DBN)

Bitcoin Mining Difficulty Drops Most Since July 2021 as Crypto Winter Cuts Profitability
(DBN)

Adrian sank $900,000 into a crypto trading firm. He doesn’t know if he will see it again
(DBN)

Bitcoin Could Fall to $5,000
(DBN)

To What Extent Did the FTX Collapse Destabilize the Crypto Market? A High Frequency Volatility Study
(DBN)

The Collapse of FTX: The End of Cryptocurrency’s Age of Innocence
(DBN)

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Student Debt:

Biden's student-loan forgiveness might not be doomed if the Supreme Court strikes it down — he could take another legal path
(DBN)

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Tech:

If Twitter collapses, will Tesla be far behind? Tesla stock slides on reports that the electric-vehicle maker's Shanghai factory may cut back production
(DBN)

Elon Musk converts some Twitter offices into bedrooms at San Francisco HQ in light of 'hardcore' ultimatum, report says
(DBN)

Tesla drivers say they've faced more incidents of road rage since they started driving the electric cars
(DBN)

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Retailing:

Party City Reaches Out to Creditors for More Liquidity
(DBN)

How floral delivery company FTD revamped its operations following bankruptcy
(DBN)

Supreme Court hears arguments over control of former Sears store at Mall of America
(DBN)

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Consumer Finance:

How Title Lending Works
(DBN)

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Autos:

Hertz to pay $168M after falsely accusing customers of stealing rental cars
(DBN)

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Cannabis:

Marijuana Company MedMen Claims it Operates Illegally to Avoid Rent
(DBN)

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Movie Theaters:

Cineworld denies breakup reports, says it will emerge intact from bankruptcy
(DBN)

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New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (28 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)

Bankruptcy Reform:

Sunset of Certain Bankruptcy Code Changes
(DBN)

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Cross-Border:

U.S. Bankruptcy Court Can Enforce Foreign Restructuring Plan Providing for Cancellation of U.S. Law-Governed Debt
(DBN)

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Executory Contracts:

Fifth Circuit Embraces Flexible Approach to Countryman Test of Executoriness in Bankruptcies Involving Multiparty Contracts
(DBN)

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Bankruptcy Rules:

Federal Rules of Bankruptcy Procedure Amended in Response to Small Business Reorganization Act of 2019
(DBN)

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Authorization:

Counsel's Retention of "Wet Signatures" Overcomes Debtor's "Faulty" Memory
(DBN)

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Solvent Debtors:

Unimpaired Unsecured Creditors in Solvent-Debtor Chapter 11 Case Entitled to Postpetition Interest, Presumably at Contract or Default Rate
(DBN)

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Subordination:

Delaware District Court: Using Contract Rights to Strategic Advantage Not Grounds for Equitable Subordination in Bankruptcy
(DBN)

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Jurisdiction:

Fifth Circuit Triples Down: Filed-Rate Natural Gas and Power Contracts Can Be Rejected in Bankruptcy Without FERC Approval
(DBN)

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Appeals:

U.S. Supreme Court's Gorsuch calls for clearer rules on bankruptcy sale appeals
(DBN)

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Sales:

Debtor Can Sell Assets Free and Clear of Successor Liability Claims Asserted by Union Pension Funds
(DBN)

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SCOTUS:

Supreme Court Hears Oral Arguments In Case Regarding Bankruptcy Code
(DBN)

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Mass Torts:

Alex Jones Bankruptcy’s Impact on Sandy Hook Families: Explained Alex Jones’ personal bankruptcy puts his money under scrutiny as Sandy Hook families await $1.5B
(DBN)

How one artist took on the Sacklers and shook their reputation in the art world Facebook Twitter Flipboard Email
(DBN)

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Make-Whole:

Fifth Circuit Rules on the "Solvent-Debtor Exception" and Make-Whole Premiums
(DBN)

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Aviation:

Hong Kong Airlines' US$6.2 bln debt revamp approved by creditors, hearings in Hong Kong and London courts
(DBN)

Jet Airways revival hits new snag as banks push back on funding
(DBN)

France starts banning short-haul flights, cracks down on private jets
(DBN)

Spillover Impacts of Airline Bankruptcy: Evidence from Housing Markets in Smaller Cities
(DBN)

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Religion:

439 Texas churches split from United Methodist Church as slow-motion schism continues
(DBN)

River Baptism Ceremony Ends in Tragedy After Flash Flood Kills 14
(DBN)

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Personal Finance:

‘I’m paycheck to paycheck.’ I make $350K a year, but have $88K in student loans, $170K in car loans and a mortgage I pay $4,500 a month on
(DBN)

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Corporate Reform:

8 in 10 voters support consumer watchdog agency: poll
(DBN)

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Climate:

In California, desalination offers only partial solution to growing drought
(DBN)

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Healthcare:

Stop hospital consolidations to lower health care prices for all Americans
(DBN)

Lingering pain for senior living bonds spurs bankruptcy cases in Texas
(DBN)

Long ICU stays lead to extended misery for many COVID survivors
(DBN)

Dear CLVS Stock Fans, Get Ready for a Bankruptcy Filing
(DBN)

Patients could feel pinch as health plans seek to offload pricey prescription costs
(DBN)

They Trusted Their Prenatal Test. They Didn’t Know the Industry Is an Unregulated “Wild West.”
(DBN)

CDC director urges vaccination amid record high reports of flu, RSV
(DBN)

How bad is the flu this year? CDC map looks grim
(DBN)

RSV cases may be peaking, CDC says, but flu hospitalizations remain at a decade high
(DBN)

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Labor:

Nickelodeon Production Workers Vote To Unionize With The Animation Guild
(DBN)

Video Game Workers at Microsoft and Activision Take Steps to Unionize
(DBN)

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Utilities:

North Carolina county may be days without power after “targeted” attack
(DBN)

With Power Grid Under Attack, U.S. Struggles to Pursue Far-Right Extremists
(DBN)

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Sovereigns:

World leaders call for stronger multilateral solutions to debt crisis
(DBN)

Ghana to slash debt-to-GDP as interest payments use up all its revenue
(DBN)

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UK:

England legend John Barnes faces bankruptcy over unpaid debt
(DBN)

Bankrupts provide false details to secure loans
(DBN)

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Russia:

Explosion at Nuclear Airbase Just 150 Miles From Moscow Opens Stunning New Phase of War Blasts at military airbases deep inside Russia were Ukrainian drone attacks, Moscow says
(DBN)

Russian missile strikes take out power, water in Ukraine In an ongoing race, Ukraine tries to repair faster than Russia bombs
(DBN)

Putin's top propagandist says Russia 'practically' took Kyiv at the start of the war, overlooking its humiliating retreat from the city
(DBN)

Putin is increasingly aware of how poorly his military is doing in Ukraine, US intel chief says Russia-Ukraine war: Putin 'becoming more informed' about challenges, U.S. intel chief says Putin Cronies Resort to Begging on Live TV Over War Failures
(DBN)

Vladimir Putin brazenly drives across repaired Crimea bridge after huge truck bomb Putin drove across a newly fixed bridge to Crimea that was blown up. It is the closest he's come to his war in Ukraine.
(DBN)

Ukraine hails air defences after heavy Russian missile strikes
(DBN)

US secretly modified HIMARS for Ukraine to prevent Kyiv from shooting long-range missiles into Russia
(DBN)

Russia burning through ammunition in Ukraine at ‘extraordinary’ rate
(DBN)

‘We haven’t got this figured out just yet’: Pentagon, industry struggle to arm Ukraine
(DBN)

Putin Signs Law Banning Expressions of L.G.B.T.Q. Identity in Public
(DBN)

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China:

China to downgrade Covid from a serious contagious disease to help relax restrictions
(DBN)

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MENA:

Iran protesters brush off morality police uncertainty and seek to build pressure with strikes Could women and Gen Z bring down the Iranian regime?
(DBN)

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Ukraine:

Insolvency Litigation 2022
(DBN)

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