July 8, 2022

The Daily Bankruptcy News

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Law:

Biglaw Valuation Takes A Tumble. Thanks, Interest Rate Hike.
(DBN)

The Talent War Is Slowing To A Halt In At Least One Biglaw Practice Area
(DBN)

Akin Gump to pay its NQs £179,000
(DBN)

Linklaters won't 'rush' into pay rises
(DBN)

Edelson Sues Girardi Firm Alleging $100 Million Fraud Plot
(DBN)

It Is Really Not About Where We Do The Work
(DBN)

Lawyer is suspended over false statements made to law firms
(DBN)

Judge blocks no-contact orders against Christian law students who discussed opposition to same-sex marriage
(DBN)

Suit seeks damages for traumatic event witnessed over FaceTime; bystander definition at issue
(DBN)

Senior lawyer wore blackface for firm office party
(DBN)

Trump questions whether a future a president can have 'candid' conversations with a White House counsel after Pat Cipollone agrees to testify before the January 6 committee • Filmmaker with Trump around January 6 says he can't understand why Trump's aides didn't know about his project • An extremely early Trump 2024 announcement would be a 'train wreck' for the GOP that also won't deter the prosecutors on his heels, experts say • Michigan gubernatorial candidate Ryan Kelley pleads not guilty to Jan. 6 charges • Secret Service denial of Hutchinson story fuels attacks from both sides • Where Jan. 6 prosecutions stand, 18 months after the attack • Vietnam Veteran Who Told FBI that He Urinated on a Column in the Capitol on Jan. 6 Gets No Jail Time • 'You're Going to be Sitting in a Jail Cell if You're Convicted': Judge Denies Request from Jan. 6 'Bullhorn Lady' to Loosen Home Detention Conditions
(DBN)

Steve Bannon's Lawyers Dress Rejected Defenses Up As Three Raccoons In A Trench Coat
(DBN)

Graham's relationship with Trump comes back to bite him
(DBN)

Michael Cohen Asks to Be Discharged from Supervised Release, Say He's 'Clearly Demonstrated That He Has Been Rehabilitated'
(DBN)

Georgia officials must testify in Trump investigation, judge rules
(DBN)

Comey, McCabe faced rare, intensive tax audits by IRS under Trump appointee: report • I.R.S. Asks Inspector General to Review Audits of Comey and McCabe • How Unlikely Is It That the Audits of Comey and McCabe Were a Coincidence? A Statistical Exploration.
(DBN)

Truck convoy leader 'Santa' arrested on National Mall
(DBN)

Ex-Minneapolis cop Derek Chauvin gets 21-year federal sentence for violating George Floyd's civil rights
(DBN)

NC governor moves to further protect abortion access • The abortion trigger laws that have gone into effect now that Roe v. Wade is overturned • Women's March planning White House sit-in to push for abortion rights • House Republicans weigh national abortion restrictions • 'Fighting for one day': Louisiana abortion clinic still open • Feinstein says she supports filibuster carve-out to codify abortion rights • Biden to sign executive order to protect abortion access • Doctors in Europe are prescribing abortion pills to women in the U.S. Red states have little power to stop it • EU Parliament Condemns US Abortion Ruling • License Plates Readers in Post Roe America
(DBN)

Texas Law Firm Touting Abortion Aid Backs Governors Urging Bans
(DBN)

Study says Oklahoma is the worst state for women and one state senator wants to know why
(DBN)

How Robert Crimo legally bought his guns • Parade shooting suspect's father: 'It's devastating to everyone involved' • Grappling with the how and why in Highland Park • Finding rifle was pivotal to capturing parade shooting suspect, chief says • Highland Park suspect's father could have some 'responsibility' in attack, police say • Crimo's Dad Accepts No Blame for Himself • Highland Park suspect's disturbing YouTube posts point to gaping hole in social media moderation
(DBN)

Appeals arguments heard on immigrants brought to US as kids
(DBN)

Gov. Greg Abbott empowers state authorities to return migrants to border crossings
(DBN)

How The First Amendment Will Protect Us From Our Gun Crisis
(DBN)

The FBI didn't finish over 1 million gun background checks in time to stop a sale in 2020 and 2021
(DBN)

Ghislaine Maxwell Appeals Conviction
(DBN)

Roy Moore Loses Appeal Seeking to Revive Suit Against Sacha Baron Cohen: Court Says 'Pedophile Detector' Sketch Was 'Clearly Comedy'
(DBN)

Emmett Till Protesters Stormed a Senior Living Facility Looking for His Wrongful Accuser
(DBN)

Parents sue TikTok over deaths of two girls after 'blackout challenge'
(DBN)

Texas trans activist, 11, flees the state after years of advocacy
(DBN)

______________

Judges:

SCOTUS Justices 'Prayed With' Her — Then Cited Her Bosses to End Roe • Praying With Supreme Court Justices And Then Cited By A Supreme Court Justice. Hmmmmm....
(DBN)

Petition calling for Clarence Thomas removal from Supreme Court gets 1M signatures
(DBN)

Biden's court commission appointees: We told you so on expanding the court
(DBN)

He Was Dismissed as a Conservative Kook. Now the Supreme Court Is Embracing His Blueprint.
(DBN)

Tax concerns lead judges to hold on to Berkshire Hathaway stock despite 'conflict nightmare,' judiciary is told
(DBN)

Chemerinsky: This SCOTUS term moved the law 'dramatically in a conservative direction'
(DBN)

______________

Wall Street:

S&P 500 futures are flat ahead of key jobs report
(DBN)

U.S. stocks higher at close of trade; Dow Jones Industrial Average up 1.12%
(DBN)

One of Wall Street's biggest bulls lowers S&P 500 target — still sees 25% upside by year-end
(DBN)

______________

Layoffs:

Warnings about the WARN Act: COVID Edition
(DBN)

OhioHealth to eliminate 637 jobs in its biggest layoff ever
(DBN)

Telecom Italia to cut thousands of jobs in break-up plan
(DBN)

A Tesla employee of nearly 5 years says he was sacked over the phone while on vacation
(DBN)

GameStop fires its CFO and announces layoffs as part of aggressive turnaround plan
(DBN)

Phillips-Medisize lays off 96, anticipates further job cuts
(DBN)

ReMax To Cut 17%
(DBN)

Twitter lays off 30% of its talent acquisition team
(DBN)

Crypto Trading Platform Bitpanda Has Announced A Mass Layoff
(DBN)

______________

Ride Hailing:

Is Uber's Money Losing Ride Near an End?
(DBN)

____________

Pharma:

Dems try again on drug prices • GOP senators call for hearings on bipartisan insulin cost bill
(DBN)

____________

Cruise Lines:

Norwegian Cruises will drop its requirement for negative coronavirus tests in most countries, but not in the U.S.
(DBN)

____________

Mass Torts:

American Cartel: Inside the battle to bring down the opioid industry
(DBN)

____________

Healthcare:

White House Covid czar Dr. Ashish Jha: This is why we're still in a pandemic
(DBN)

Young Black leukemia patients have worse outcomes, study finds
(DBN)

Half of transgender people leave their home state to receive gender-affirming surgery, study finds
(DBN)

Monkeypox cases jump 77% in a week, WHO reports
(DBN)

____________


Economy:

Jobless claims edge up to highest since January; planned layoffs soar; trade deficit hits 2022 low • Jobless Claims Reach Highest in Months, Here's Which States Are Rebounding • U.S. jobless claims rise to 235k, most in nearly six months
(DBN)

June Employment Preview • Goldman June Payrolls Preview
(DBN)

Retailers scale back hiring as worry about a slowdown grows
(DBN)

June jobs report is not expected to show an economic slowdown or a recession looming
(DBN)

'Everybody thinks we're in a recession, except the labor market': Economists don't see signs of downturn in jobs data • How will we know if we're in a recession? • Recession 'increasingly likely' despite hot labor market, recovering hospitality sector • Wells Fargo's investment arm cuts outlook for stocks, now sees longer U.S. recession ahead
(DBN)

You're not alone, nearly 80% of workers are worried about losing their job during a recession
(DBN)

Fed's Bullard says there is a 'good chance' of a soft landing for U.S. economy
(DBN)

Inflation is 'just too high and doesn't seem to be coming down': Fed's Waller backs big interest-rate hikes
(DBN)

Jobs Aplenty, but a Shortage of Care Keeps Many Women From Benefiting
(DBN)

A closely watched recession indicator is flashing again after the Fed minutes reveal another big rate hike could be on the way
(DBN)

Goldman slashes GDP forecast for the second quarter to just barely above water
(DBN)

Nobel Prize-winning economist Paul Krugman says fears of runaway inflation are hugely overblown - and dismisses the risk of stagflation
(DBN)

'Inflation is going to be stickier than most people imagine': Inside the obscure market where traders have mostly been right about price increases.
(DBN)

Commodity prices have plunged back to pre-Ukraine war levels, in a sign that inflation is finally fading
(DBN)

26% of concertgoers plan to take on debt to attend shows this summer
(DBN)

Even bosses are joining the Great Resignation
(DBN)

Sign of the times: Recruiters are checking a layoffs site to find workers
(DBN)

Here's where minimum wages are going up while the federal rate remains unchanged
(DBN)

Food insecurity and hunger afflicted 2.3 billion people in 2021, and the war will add more, the U.N. says.
(DBN)

Dems propose raising taxes on high earners to extend Medicare solvency
(DBN)

Trade Deficit decreased to $85.5 Billion in May
(DBN)

As Russia cuts gas shipments, Europe moves to bail out energy providers • Germany's Habeck Urges Canada to Help Thwart Putin on Gas • Oil Traders in Panic After Russia Order to Halt CPC Terminal • Why Putting A Price Cap On Russian Oil Won't Work
(DBN)

Abortion Looms as ESG Issue for Companies After Voiding of Roe
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

Commercial real estate broker stocks underperformance suggests 'damage has been done,' analyst says
(DBN)

The Shrinking of the Middle-Class Neighborhood
(DBN)

US Mortgage Rates Plunge to 5.3% in Biggest Drop Since 2008
(DBN)

Americans are growing 'increasingly frustrated' with the economy and gloomy about the housing market, Fannie Mae survey says
(DBN)

Here's the loophole that makes the U.S. housing market more wobbly than it appears
(DBN)

Huge rent price spikes may be coming to an end
(DBN)

Here's how much housing inventory has risen with higher rates.
(DBN)

1st Look at Local Housing Markets in June, Sales Down Sharply
(DBN)

____________

Oil/Gas:

Is Biden Really Responsible For High Oil Prices?
(DBN)

Goldman: Oil to Hit $140
(DBN)

U.S. oil prices settle back above $100 a barrel; natural-gas futures rise over 14%
(DBN)

Gasoline futures are dropping, which could mean more relief at the pump • US on 'cusp' of falling gas prices
(DBN)

Shell sees refining profits nearly tripling, adding $1 billion to its bottom line.
(DBN)

US oil prices rebound back above $100 after recession fears sent crude to 3-month low
(DBN)

Volkswagen CEO says EV outlook is 'very good' • Volkswagen announces $20 billion effort to build its own EV batteries
(DBN)

____________

Crypto:

Voyager Digital's one-of-a-kind bankruptcy • Voyager Digital customers feeling the pain • 'It's Ruined Me': Voyager Customers Fear Life Savings Gone After Crypto Firm's Bankruptcy • U.S. FDIC Probes Crypto Lender Voyager Marketing for Deposit Accounts • Voyager Delivers Painful Lesson on Perils of Counterparty Risk in Bankruptcy Drama • Sports Deals Face Uncertainty After Crypto Platform's Bankruptcy • 'I'm done with crypto': Voyager bankruptcy rocks true believers
(DBN)

Is your crypto on Celsius or Voyager? Factors that determine whether you may get your money back
(DBN)

Lawsuit accuses troubled crypto lender Celsius Network of fraud • Celsius Network was a 'Ponzi scheme,' company's former investment manager alleges in lawsuit
(DBN)

Hackers pulled off a $620 million crypto heist by tricking an engineer into applying for a fake job and opening an offer letter containing spyware, report says
(DBN)

Beware the crypto narratives
(DBN)

Crypto bankruptcies test the system
(DBN)

Mt. Gox Creditors Inch Closer to Repayment as Bitcoin Dump Looms • Mt. Gox Releases Update on Creditor Rehabilitation Plan • Mt. Gox close to repaying its creditors; Why it's not good for Bitcoin?
(DBN)

A Crypto Law Across The Pond Could Make Splashes On Your Portfolio
(DBN)

____________

Fraud:

Ex-Theranos president Sunny Balwani found guilty of fraud
(DBN)

Guy Who Policed Insider Trading Before Claiming Insider Trading Doesn't Exist Pleads Guilty To Insider Trading
(DBN)

____________

Tech:

Drobo Files For Chapter 11 Bankruptcy Following Pandemic Slowdown
(DBN)

Elon Musk Still Wants Out of Twitter Deal • Twitter slips on report that Musk deal is in jeopardy
(DBN)

____________

Politics:

Rick Santorum demanded 'fiscal responsibility' as a 2012 presidential candidate. A decade later, his campaign committees still owe creditors nearly $1 million.
(DBN)

DeSantis takes the fight to school boards • Florida Gov. Ron DeSantis plans Utah fundraiser with GOP megadonors, signaling possible presidential run
(DBN)

Liz Cheney Wins the GOP's Manhood Contest • Why Liz Cheney is in a lot of trouble in Wyoming
(DBN)

Hire Exorcists to End Mass Shootings, Offers Fox News Contributor
(DBN)

Congresswoman sparks confusion by saying she'd shoot her own grandchildren to defend her guns
(DBN)

Most white evangelicals say society has gone 'too far' in accepting transgender people, poll finds
(DBN)

Staff: Herschel Walker is a Pathological Liar
(DBN)

____________

 
New Bankruptcy Opinions
(2 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 (4 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:

BK AZ: Updated Filing Statistics
(DBN)

Bankruptcy filings in the Southern District of Mississippi are up 7.2% for the first six months of 2022 as compared to 2021
(DBN)

______________

SCOTUS:

A Justice Breyer Legacy: Erasing "Public Rights" From Lexicon Of Controlling Bankruptcy Law
(DBN)

____________

Finance:

The Loan Market Response to Dropdown and Uptier Transactions
(DBN)

8th Cir. Holds Future Advances Clause Applied to Separate Business Loans to Co-Mortgagor
(DBN)

____________

Bankruptcy Research:

Parental Obligations in Bankruptcy
(DBN)

____________

Bankruptcy Strategy:

11 Key Strategies to Protect Your Company's Supply Chain and Mitigate Risks Against Financially Distressed Customers and Suppliers
(DBN)

____________

Leases:

COVID-19 and Lease Obligations: Does a Force Majeure Clause Override the Frustration of Purpose Doctrine?
(DBN)

____________

Jurisdiction:

FERC v. The Bankruptcy Court: The Latest In a Decades-Long Jurisdictional Turf War
(DBN)

____________

UST:

Siegel v. Fitzgerald: Supreme Court Rules U.S. Trustee Fee Hike Unconstitutional
(DBN)

____________

Aviation:

Biden administration announces $1B to 85 airports to upgrade terminals
(DBN)

SAS Pilot Strike Grounds Flights, Exacerbating Airline's Troubles
(DBN)

____________

Climate:

Quitting Oil Income Is Hard, Even for States That Want Climate Action
(DBN)

E.P.A., Curbed by Supreme Court, Falls Back on a Piecemeal Plan for Climate Change
(DBN)

Europe's battle over "green" natural gas
(DBN)

Yellowstone floods reveal forecasting flaws as world warms
(DBN)

Most Americans have concerns about being displaced by extreme weather, poll says
(DBN)

Big Oil CEO Believes Carbon Prices Need To Double
(DBN)

____________

Student Debt:

Biden's White House fears canceling student debt will drive inflation even higher — and that restarting loan payments might help avoid that
(DBN)

Student loan forgiveness: he states most interested student loan forgiveness
(DBN)

Biden's latest proposals to fix student-loan forgiveness programs 'fail' to solve 'endless borrowing and ballooning college costs,' top Republican lawmaker says
(DBN)

Some student-loan companies have 'derailed' debt forgiveness for public servants, a Democratic senator says — and he wants Biden's Education Department to expand the relief
(DBN)

____________

Sovereigns:

IMF chief Georgieva: Creditors of Common Framework countries to meet in July
(DBN)

Sri Lankans ditch cars for bicycles to ride out economic • Bankruptcy brings painful decisions for Sri Lanka crisis • 'The family took over': how a feuding ruling dynasty drove Sri Lanka to ruin
(DBN)

Sri Lanka's Economic Downturn Should Be A Warning To Debt-ridden Nations, Says UNDP
(DBN)

Why Ghana has returned to the IMF
(DBN)

South Africa a Step Closer to Joining Wealthy Creditors' Club
(DBN)

Suriname inks deal with creditors
(DBN)

____________

UK:

Boris Johnson announces resignation: "When the herd moves, it moves" • From Churchill to Johnson: The 14 PMs who have served Queen Elizabeth II • UK Prime Minister Boris Johnson quits after dozens of ministers resign over his conduct • Boris Johnson: Rebel without a pause • Boris Johnson's downfall was his own making
(DBN)

Boris Johnson leaves behind a fraught economy and an uneasy Brexit legacy.
(DBN)

Boris Johnson Exit is Beginning of End for Brexit
(DBN)

UK Government Debt Unsustainable
(DBN)

____________

EU:

With US dollar nearly equal to euro, impact is being felt
(DBN)

____________

Italy:

The New Italian Code of Business Crisis and Insolvency
(DBN)

____________

Russia:

Brittney Griner pleads guilty to drug charges in Russia • What We Know About Brittney Griner's Detention in Russia
(DBN)

Kremlin gloats, Zelensky "saddened" by resignation of Boris Johnson
(DBN)

Why Russians are denouncing opponents of Ukraine invasion
(DBN)

Graham, Blumenthal visit Kyiv in first wartime bipartisan delegation to Ukraine
(DBN)

Why exhausted Russian forces cannot risk an 'operational pause' • A top Russian official threatens the U.S. with the 'wrath of God' over war crime investigations • Ukraine exacts punishing cost on Russian forces' eastern advance • Germany refuses to 'plunder its own military' for the sake of Ukraine • Russia occupies 22% of Ukraine farmland: NASA • Russian Soldier Breaks Down: We Are Just Meat Here • Russia says missile strike hit and killed Ukrainian troops on Snake Island • Putin says Russia just starting in Ukraine, peace talks will get harder with time • Putin says his Ukraine operation has hardly even started • Putin: Ukraine Headed Towards Tragedy
(DBN)

____________

India:

Voting Rights: The New Arsenal For Lenders
(DBN)

____________

China:

Approaches to recover debts from a dormant company in Mainland China
(DBN)

____________

Japan:

Former Japanese Prime Minister Abe Assassinated
(DBN)

____________

Mexico:

Deloitte Was a Common Factor at Troubled Mexican Shadow Banks
(WSJ)

____________

Australia:

Unreasonable director-related transactions left creditors 'hanging out to dry'
(DBN)

___________


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