July 28, 2022

The Daily Bankruptcy News

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Law:

The Am Law A-List: Ranking The Most Elite Law Firms In America (2022)
(DBN)

Self-described 'lottery lawyer' is found guilty in scheme to defraud his lottery-winner clients
(DBN)

Lawyer's Commissions Claims Against Employer Can Proceed
(DBN)

Miami's 'New Breed' of Law Firms Spurs Fresh Recruiting Battle Biglaw's Starting A Talent War In Miami
(DBN)

Key Ethical Obligations in the Era of Modern Law
(DBN)

Federal prosecutors have reviewed Trump officials' phone records and questioned witnesses as the DOJ's Jan. 6 probe zeroes in on the former president: report Former Pentagon chief: Trump gave no order to prepare troops before Jan. 6 Trump's Jan. 6 National Guard Lie Crumbles The Jan. 6 committee hasn't found a 'smoking gun.' Here's why it matters U.S. Capitol Breach: Justice Served? Jan. 6 rioter charged with assaulting Capitol police takes plea deal Man Once Implicated in Assault of Capitol Cop Who Died After Jan. 6 Has Pleaded Down to a Pair of Misdemeanors "It Is All so Very True": Stephanie Grisham Talks Cassidy Hutchinson's Jan. 6 Testimony and Sounds the Alarm on Trump in 2024 Is Trump in Legal Peril? This Ex-Prosecutor Would Know Stunning New Emails Show Trump Team Calling Their Own Electoral Vote Scheme 'Fake'
(DBN)

Trump is asking an appeals court to give him absolute immunity from civil lawsuits linked to the January 6 Capitol riot
(DBN)

Trump's team has filed a 282-page document threatening to sue CNN for calling his debunked voter fraud claims 'baseless'
(DBN)

Feds get new warrant to search contents of pro-Trump lawyer's phone
(DBN)

U.S. judge declines to acquit ex-Trump adviser Bannon, but mulls dismissing charges
(DBN)

A radical attack on the First Amendment
(DBN)

The first big test for reproductive rights post-Roe is next week in Kansas Conflicting abortion laws are making women's reproductive care a quagmire 30-day countdown begins on Texas trigger law as Supreme Court makes abortion ruling final Michigan football coach Jim Harbaugh vows to raise baby if player has unwanted pregnancy With Roe Gone, Republicans Quarrel Over How Far to Push Abortion Bans Judges block abortion bans in Wyoming, North Dakota
(DBN)

Republicans stay mum as Senate pushes toward same-sex marriage vote Republicans have a nonsensical argument against the same-sex marriage bill
(DBN)

Senate Republicans block Dem request to pass birth control access bill
(DBN)

House panel says gunmakers earned more than $1B from sales of assault weapons
(DBN)

Cops: Man Drove Walmart Scooter While Drunk
(DBN)

Ex-cops Kueng, Thao sentenced for violating Floyd's rights All the Cops Involved in George Floyd's Murder Are Now Going to Prison
(DBN)

New York Cop Bought Rifle for Neo-Nazi 'Rapekreig' Marine Who Planned Synagogue Attack: Feds
(DBN)

Gun-makers tell Congress mass shootings are a 'local' problem not caused by 'inanimate' firearms
(DBN)

AR-15 style guns sold as a sign of manhood as shootings rise
(DBN)

Mississippi Man Arrested After Viral Video Shows Driver Using Racial Slur and Laughing About 'Points' as He Aims His Car for 9 Black Youths Riding Bikes
(DBN)

Highland Park parade mass shooting suspect indicted on 117 charges by Illinois grand jury
(DBN)

A North Carolina city hired a Black town manager. Then its entire police force resigned.
(DBN)

Chicago Mayor Lightfoot refusing to pay speeding, red light tickets as they pile up: Report
(DBN)

Former Covington Catholic Student Nick Sandmann Loses Defamation Lawsuits Against CBS, ABC, NYT, and Others
(DBN)

Black family sues Sesame Place, alleging discrimination
(DBN)

Dallas Jury Hits Charter Spectrum with $7 Billion Verdict After Cable Installer Robbed and Murdered an Elderly Woman
(DBN)

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Judges:

Judge Resigns And Somehow It's NOT Over The Drunken Shooting At White Castle
(DBN)

Clarence Thomas Quits Law School Class, Depriving Students Of BOTH Sides Of The 'Do Gay People Have Human Rights?'
(DBN)

The Supreme Court's Selective Memory
(DBN)

Federal judge sitting atop mound of patent litigation loses perch with equitable-distribution order
(DBN)

Judge on top New York court is now 'ready and eager' to get vaccinated; is chief judge vacancy a factor?
(DBN)

After collaborating with bestselling author, judge discusses new solo book
(DBN)

Feds Uncover Creepy Online Posts by Man Accused of Plotting to Kill Kavanaugh
(DBN)

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Wall Street:

Stock futures fall slightly after big Fed rally, Meta shares decline
(DBN)

Nasdaq soars 4% on combination of mega-cap tech earnings and Fed's 75-basis-point rate hike comments
(DBN)

Restructuring whiz Koerner lands in Credit Suisse CEO hot seat
(DBN)

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Layoffs:

Vox Media lays off 39 people amid economic uncertainty
(DBN)

Facebook workers fear cuts after blunt warnings from Zuckerberg, leaders
(DBN)

Ford CEO Farley Says Automaker 'Absolutely Has Too Many People'
(DBN)

Rivian laying off 6% of its staff
(DBN)

'It was devastating': Inside the 'bloodbath' at 7-Eleven, where nearly 900 corporate jobs were just cut
(DBN)

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Pensions:

Rejected by courts, retirees take last shot to save pensions At last, Delphi retirees see chance to have pensions restored House passes bill to restore pensions for Delphi retirees 13 years after GM bankruptcy
(DBN)

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Utilities:

Leaked: US power companies secretly spending millions to protect profits and fight clean energy
(DBN)

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Tech:

Senate passes major chip funding bill
(DBN)

The CHIPS Act won't solve the chip shortage
(DBN)

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Military:

Lawmakers press Pentagon for answers as military recruiting crisis deepens
(DBN)

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Distressed Investing:

Betting on a recession, U.S. distressed debt funds seek fresh capital
(DBN)

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Politics:

Former Republicans and Democrats form new third U.S. political party
(DBN)

Class Divisions Harden Into Battle Lines in Arizona's Republican Primary
(DBN)

RNC to Trump: Run and We Quit Paying Bills
(DBN)

Trump's Big New Applause Line: Attacking Trans People
(DBN)

Why US schools are at the center of trans rights
(DBN)

Democrats, Jewish leaders criticize Doug Mastriano's relationship with far-right extremists
(DBN)

White House appoints new liaison to the Jewish community
(DBN)

3 in 4 Democrats don't want Biden as 2024 nominee: poll
(DBN)

House sergeant-at-arms to cover security at lawmakers' homes
(DBN)

Orban Will Still Speak at CPAC Despite 'Nazi' Speech Backlash
(DBN)

Hunter Biden had a high-end income and lavish lifestyle. But he struggled with tax issues for years Rep. James Comer presses Hunter Biden's financial adviser on foreign deals
(DBN)

Cruz says Texas should repeal its now-defunct law banning gay sex
(DBN)

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Economy:

Fed hikes interest rates by 0.75 percentage point for second consecutive time to fight inflation FOMC Statement: Raise Rates 75 bp; "Ongoing increases appropriate" Here's what changed in the new Fed statement What the Fed's back-to-back 75-basis point interest rate hikes mean for you Fed jacks up interest rates again to combat highest inflation in 41 years Here are the takeaways from the Fed's latest move Fed deploys supersized rate hikes, ending era of easy money Was Fed's Powell dovish or not? 4 key takeaways from Wednesday's press conference US not yet in recession and 4 other takeaways from the Fed
(DBN)

Fed watchers say markets got it all wrong on Powell 'pivot'
(DBN)

US economy likely grew modestly, if at all, last quarter
(DBN)

BofA CEO says the strong American consumer is one of the Fed's biggest obstacles
(DBN)

Nearly Half of Americans Fall Deeper in Debt
(DBN)

Moderate rebound in U.S. economic growth seen in second quarter as inflation bites
(DBN)

Economist Roubini: 'Severe' Recession, Financial Crisis Coming
(DBN)

'It will be mostly a white-collar recession': Milken Institute economist William Lee on how the next downturn will be different
(DBN)


Is A Recession Coming? Fed Acknowledges US Economy 'Softened,' Enacts Fourth Rate Hike Of 2022
(DBN)

US Economy Seen Narrowly Averting Back-to-Back Contractions
(DBN)

During Covid, most governments just gave people money
(DBN)

What the Fed got wrong about inflation and why they're hiking interest rates
(DBN)

Americans' Biggest Inflation Concerns
(DBN)

Inflation hits NYC's bodega favorite: Bacon, egg and cheese
(DBN)

The Strong Dollar Is Wreaking Havoc Globally — And It's Just Getting Started
(DBN)

Europe Energy Prices Keep Soaring as Russia Tightens Supply Kremlin Likely to Keep Cap on Gas Flow to Europe Philippines scraps Russian chopper deal Russia's withdrawal from the International Space Station could mean the early demise of the orbital lab – and sever another Russian link with the West G7 aim to have price cap on Russian oil in place before Dec 5 Space, gas and food: Russia unleashes full weight of leverage as it pressures West, escalates war Russia cuts gas flows further as Europe urges energy saving U.S., Europe Dig In for Long Economic Standoff With Russia Russia faces 'economic oblivion' as Western sanctions continue to eat away at GDP, new study says 'Resilient' Russian economy upgraded despite war and sanctions Despite sweeping sanctions, Russia's economic outlook has improved since April — but it's gotten worse for almost every other country US Senators Call for Sanctions on Russian Oil Sales to China U.K. hits a British blogger with sanctions for pro-Russian propaganda Russia has hit Google with more than $380 million in fines this month
(DBN)

Don't Expect Big Consumer Brands to Lower Prices Soon
(DBN)

The great millennial migration that wasn't
(DBN)

Manchin announces support for climate, tax, health care deal What's in, and out, of Democrats' inflation-fighting package
(DBN)

IMF warns rising debt in Asia puts region at risk
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Pending home sales fell 20% in June versus a year earlier as mortgage rates soared NAR: Pending Home Sales Decreased 8.6% (MtM) in June
(DBN)

The top 10 cities where home prices are being slashed amid cooling real estate market
(DBN)

Real House Prices and Price-to-Rent Ratio in May
(DBN)

New Home Sales, Prices Plunge as Demand Craters
(DBN)

Boise's Housing Market Boomed Early in the Pandemic. Now It Is Cooling Fast.
(WSJ)

DOJ: Buffett company discriminated against Black homebuyers
(DBN)

The Housing Slowdown Could Become a Global Meltdown
(DBN)

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Municipalities:

Puerto Rican statehood backers poised to take over oldest Latino civil rights group
(DBN)

PREPA mediators ask for a fourth deadline extension
(DBN)

Puerto Rico continues its slow recovery, five years after Hurricane Maria
(DBN)

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Oil/Gas:

Fifth Circuit Says FERC Can't Stop Rejection of Filed-Rate Contracts in Bankruptcy
(DBN)

U.S. to sell additional 20 million barrels of oil from strategic reserve
(DBN)

Manchin Deal Ties Clean Energy Projects to Oil Drilling
(DBN)

The AAA says high gas prices are destroying demand, with 64% of Americans altering their lifestyle as fuel costs surge
(DBN)

Biden adviser: Saudi Arabia and UAE have "more to give" on oil production
(DBN)

The US has become the world's top LNG exporter as it funnels supply to European consumers at the mercy of Russia
(DBN)

Nobody Talks About How Fracking Was an Extraordinary Boondoggle
(DBN)

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Coal:

3 reasons US coal power is disappearing – and a Supreme Court ruling won't save it
(DBN)

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Retailing:

Shopify misses estimates and issues gloomy guidance
(DBN)

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Religion:

Canada says pope's apology to Indigenous not enough
(DBN)

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Cosmetics:

Revlon gets court OK on $15.4M bonus plan for 'critical' employees
(DBN)


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Climate:

Extreme Weather Caused $65 Billion in Losses in the First Half
(DBN)

Temperatures could hit triple digits again in Northwest Scorching heat wave in US Northwest forecast to last longer
(DBN)

Climate change and vanishing islands threaten brown pelicans
(DBN)

Despite SCOTUS EPA Ruling, Biden Has Options to Address Climate Crisis
(DBN)

Biden could unlock new powers by declaring a 'climate emergency'
(DBN)

Hidden Menace: Massive methane leaks speed up climate change
(DBN)

Climate disinformation leaves lasting mark as world heats
(DBN)

Upper Colorado River leaders push back against federal ask for conservation
(DBN)

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Celebs:

Jamie Spears' lawyer suggests he placed daughter Britney Spears in a 13-year conservatorship to 'protect her from Rasputins and Svengalis'
(DBN)

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Healthcare:

Biden to stop isolating after testing negative twice for COVID-19
(DBN)

If L.A. County imposes a mask mandate, Beverly Hills won't enforce it
(DBN)

COVID Hospitalization Rate in NYC Soars 70% in Month, ICU Patient Tally Nearly Doubles
(DBN)

WHO urges gay, bisexual men to limit sexual partners to reduce monkeypox spread
(DBN)

US signs off on 800,000 more doses of monkeypox vaccine
(DBN)

Research shows coronavirus pandemic originated in Wuhan wet market and did not escape from a Chinese lab
(DBN)

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New Bankruptcy Opinions
(0 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (12 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (3 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)

Intercreditor:

No Honor Among Creditors: Delaware Judge Issues Important Ruling On "Uptier" Transaction
(DBN)

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Professional Compensation:

Billing Judgment
(DBN)

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Cross-Border:

Clarity in Comity - Cayman Schemes of Arrangement Capable of Discharging New York Law Debt
(DBN)

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Miscellaneous:

Bankruptcy & Restructuring Roundtable Highlights
(DBN)

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Mass Torts:

At Sandy Hook Defamation Trial, Alex Jones Seeks Sympathy For The Real Victim Here, Who Is ... Alex Jones. Obviously.
(DBN)

Judge Questions 3M's Use of Bankruptcy to Fight Veterans' Suits
(DBN)

3M earplug bankruptcy creates "corrosive" tension with other courts, attorney says
(DBN)

Is 3M earplug bankruptcy the beginning of the end of mass tort MDLs?
(DBN)

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Finance:

The Loan Product in the SOFR World: Perspectives of Administrative Agents, Arrangers and Lenders in a Post-LIBOR World
(DBN)

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Aviation:

These are the U.S. airports where you're most likely to experience a flight delay
(DBN)

Flight from London to L.A. diverted to Salt Lake City due to unruly passenger
(DBN)

Whistleblowers hit Southwest, FAA for lax safety practices
(DBN)

JetBlue agrees to buy Spirit in $3.8 billion deal to create fifth-largest U.S. airline
(DBN)

American Airlines passengers trapped on boiling plane for 6 hours American Airlines passengers were left 'sobbing' after being held on a hot plane for six hours, report says
(DBN)

Air travel chaos and disruptions around the world could last until the end of 2023, says CEO of London's Heathrow Airport
(DBN)

Lufthansa Cancels Nearly All Flights in Frankfurt and Munich, Stranding 130,000 Travelers
(DBN)

Singapore Airlines swings to profit as passenger traffic improves
(DBN)

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Student Debt:

The Aging Student Debtors of America
(DBN)

Biden's Education Department may be signaling yet another student-loan payment pause extension
(DBN)

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Crypto:

Voyager: The Convergence of Chapter 11 and the Crypto Winter
(DBN)

How Congress Can Minimize The Cryptopocalypse
(DBN)

Factbox-The Crypto Crash Hit These Companies the Hardest
(DBN)

Celsius Kicks The Can
(DBN)

Crypto bankruptcy proceedings to slow massive selloffs that triggered the bear market
(DBN)

Celsius and BitConnect: Not So Different?
(DBN)

Sky-High Yields and Bright Red Flags: How Alex Mashinsky Went From Bashing Banks to Bankrupting Celsius
(DBN)

Here's how much money you would've lost if you bought crypto during Matt Damon's 'Fortune Favors the Brave' commercial
(DBN)

A man who lost $176 million worth of bitcoin in a dump wants to use a pair of $75,000 robot dogs in his master plan to get it back
(DBN)

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Sovereigns:

IMF says Sri Lanka needs to talk with China about debt restructuring Sri Lanka's parliament extends state of emergency amid crackdown Sri Lanka's State-Owned Enterprises Are a Big Part of Its Economic Problems Sri Lanka Keeps Emergency Rule as Crackdown Starts on Protesters
(DBN)

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UK:

Court crams down HMRC in the latest SME Restructuring Plan
(DBN)

London Home Projects Face Delays to 2035 on Electricity Capacity
(DBN)

UK Online Stores Saw Big Jump in Closures After Covid Curbs Were Lifted
(DBN)

UK Probably Already in Recession, Former BOE Rate-Setter Says
(DBN)

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EU:

Euro-Area Confidence Hits Weakest in 17 Months on Recession Fear
(DBN)

Europe's Mall Giants Toast Recovery as Recession Fears Loom
(DBN)

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Italy:

The new Italian Insolvency Code: a predicted revolution
(DBN)

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Russia:

Ukraine will pursue war-crimes charges against leaders of JPMorgan Chase, Citi, and HSBC over Russia financing, Zelenskyy's economic advisor says Fate of Ukraine's second biggest power plant in balance after Russian advance Putin's soldiers shoot down own helicopter after it mistakenly attacked them US rocket system enables Ukraine to pummel key supply bridge Russian Officials Beg for Donations to Buy Troops Equipment Special Military Cell Flows Weapons and Equipment Into Ukraine Russia steps up strikes on Ukraine amid counterattacks Russia Casualties in Ukraine Pass 75,000
(DBN)

Ukraine accuses Tulsi Gabbard and Rand Paul of promoting 'Russian propaganda'
(DBN)

WNBA's Griner tells court of poor translation at her arrest In rare contact, US offers Russia deal for Griner, Whelan
(DBN)

Ukraine's grain is ready to go. But ships aren't. Why? Risk Navigating mines and threatened by war, ships laden with grain are expected to leave Odesa soon.
(DBN)

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China:

Asia's richest woman loses half her $24bn fortune in China property crisis
(DBN)

Distressed China Builder Shimao Sued by UOB Over Loan Terms
(DBN)

UBS Analyst Who Called Evergrande Rout Sees More Sector Turmoil
(DBN)

Pentagon official warns China's 'aggressive' behavior in the South China Sea could lead to a 'major incident or accident'
(DBN)

Jeep Pulls Out of China Over Government Meddling in Business
(DBN)

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Hungary:

Hungary's leader rebuked for opposing 'mixed race' society
(DBN)

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MENA:

Protesters Storm Iraqi Parliament
(DBN)

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Singapore:

Chapter 11 proceedings of REITs are not recognized under the Singapore Model Law
(DBN)

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