April 13, 2023

The Daily Bankruptcy News

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3-Column Formating

 

Law:

The Most Desirable Biglaw Firm
(DBN)

The role of AI in insolvency litigation: an enhancement but not a replacement for human lawyers in the administration of justice
(DBN)

Cooley reportedly pushes back start date for incoming associates; are summer programs at risk?
(DBN)

Shearman & Sterling Announces More Staff Layoffs
(DBN)

In-House Counsel Reacts To Biglaw's 'Online 24/7' Expectations
(DBN)

Florida Bar Passage Rate Falls 7 Percent
(DBN)

Lawyers report high level of satisfaction with their jobs, but stress remains an issue, survey finds
(DBN)

Alleged law firm scammer gets charges tossed on speedy-trial grounds
(DBN)

Removing unvaccinated potential jurors didn’t violate defendants’ Sixth Amendment rights, 4th Circuit rules • Cocaine traffickers who refused COVID-19 vaccine not entitled to unvaccinated jurors: Ruling
(DBN)

Judge Says Fox News Can’t Argue Spreading the 'Big Lie' Was Newsworthy • Murdoch to Testify at Fox-Dominion Trial as Soon as Monday • Judge Limits Fox’s Options for Defense in Dominion Trial • Judge sanctions Fox News for withholding evidence in Dominion lawsuit • Judge says Fox News has 'credibility problem' after Murdoch disclosure • Judge Considers Next Steps After Disclosure That Rupert Murdoch Is An Officer Of Both Fox News & Fox Corporation • Judge chides Fox News over ‘missing’ Murdoch documents but refuses ‘remedy’ • Ex-Fox Producer: There Are Secret Rudy Giuliani Recordings About Dominion • Judge, Fox attorney clash over TV hosts' testimony in Dominion defamation case • Judge: No separate defamation trials for Fox News, Fox Corp. • Judge Says He Plans To Appoint Special Master To Investigate Fox Attorneys After Revelation Of Maria Bartiromo Audio Recordings In Dominion Defamation Case • Fox News Gets Its Ass Kicked In Court Before Dominion Defamation Trial Even Starts • Fox News slapped with sanctions by judge in Dominion's $1.6 billion defamation case as trial looms
(DBN)

Trump Supporters Are Swamping the Manhattan DA With Racist Threats • Manhattan DA receives new white powder envelope • Team Trump embraces Bragg indictment
(DBN)

Special counsel focuses on Trump fundraising off false election claims
(DBN)

Trump braces for second Manhattan deposition in New York AG's $250 million fraud case
(DBN)

Coalition of media companies sue for Jan. 6 tapes given to Fox News’ Tucker Carlson
(DBN)

Trump sues his former lawyer Michael Cohen for more than $500 million • Trump sues Michael Cohen for $500M, alleging he 'spread falsehoods'
(DBN)

Trump says police officers, court employees were ‘crying’ at his arraignment • Trump's tale of crying Manhattan court employees was 'absolute BS,' law enforcement source says • Donald Trump mocked by courthouse staff for claim they were 'actually crying' at arrest
(DBN)

Former Green Beret, Jan. 6 Rioter and GOP Candidate Sent to Prison for Stockpile of Ammo, Guns and Grenades
(DBN)

'Fox shareholder sues Rupert Murdoch, other directors over 2020 election coverage
(DBN)

Pentagon leak threatens Biden doctrine • Russia says U.S. intelligence leaks may be fake, part of hybrid war against it • Britain says reported US intelligence leak has 'serious level of inaccuracy' • Here are the 7 biggest revelations from the US leaks so far • Biden administration grappling with extent, motivation of intelligence leak • Why the U.S. didn’t notice leaked documents circulating on social media
(DBN)

Security documents related to Biden Northern Ireland visit found in Belfast street
(DBN)

Louisville bank shooter’s mom warned cops of Connor Sturgeon’s plans during panicked 911 call • He sent letters before rampage • Family of Louisville shooter said he had 'mental health challenges' but 'no warning signs' of 'shocking' mass shooting
(DBN)

Ted Cruz said school shootings can be prevented if they have armed guards, like in banks. That aged poorly after the deadly Louisville bank shooting.
(DBN)

KS cops ‘chased’ elderly man for driving 3 mph over limit then tased him, lawsuit says
(DBN)

Charges dropped against one of two fathers who shot each other’s daughters in road rage gunfight
(DBN)

Court preserves access to abortion pill but tightens rules • US appeals court partially blocks federal judge's ruling on abortion drug mifepristone • Survey: Majority of Americans say abortion pills should be legal • Unprecedented Texas abortion pill ruling sparks debate about 'judge shopping' • The most farcical argument in the case against abortion pills • Mifepristone is safe • Biden administration to propose tighter health privacy rules around abortion • House Democrats call for immediate hearing on Texas abortion pill ruling • GOP largely silent on Texas ruling with party in a bind on abortion
(DBN)

Documents in abortion pill lawsuit raise questions about ex-husband's claims
(DBN)

Why the workplace is a common site of mass shootings
(DBN)

Milwaukee police said they were so afraid of their department-issued handguns randomly firing, they wouldn't bring them home near their family
(DBN)

146 Mass Shootings in America in Just 100 Days
(DBN)

80-year-old segregation wall finally comes down in Baltimore
(DBN)

Urologist at 'prominent' hospitals hit with federal indictment after multiple sexual abuse lawsuits
(DBN)

Man who shot wife in head because 'she would not shut up' learns his fate
(DBN)

JPMorgan wealth CEO Erdoes says bank knew of Epstein sex accusations in 2006, USVI alleges
(DBN)

Lori Vallow asked to be excused from day of gruesome testimony for "mental health" break, but the judge made her stay
(DBN)

Is Punishing Innocent People Unconstitutional?
(DBN)

Juror says Texas Gov. Abbott’s rush to pardon shooter a ‘travesty’ • Victim's Mother Slams Abbott on Pardon
(DBN)

Murdoch Divorced Jerry Hall by Email
(DBN)

Biden admin pauses asylum processing changes for migrants at border
(DBN)

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Judges:

Judge Drain returns to private practice with Skadden
(DBN)

Clarence Thomas’s Billionaire Friend Is No Nazi
(DBN)

Should Any GOP Megadonors Wish To Ply An ATL Columnist With Luxury Travel, See Email Below
(DBN)

Federal judge’s ‘rubberstamp’ orders repeat strings of citations with no specifics, 9th Circuit dissenter says
(DBN)

Examining NBC’s new ‘Night Court’ and new judges
(DBN)

More Judges Should Hold Settlement Conferences
(DBN)

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Wall Street:

Stock futures rise as investors mull over recession risk
(DBN)

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Layoffs:

More layoffs may still come for tech workers
(DBN)

Mass Layoffs and Absentee Bosses Create a Morale Crisis at Meta
(DBN)

Elon Musk says Twitter has shed more than 6,000 employees
(DBN)

Redfin executes third wave of layoffs in a year
(DBN)

196 could lose Louisiana hospital jobs as vendor contract expires
(DBN)

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Tech:

Twitter Facing Another Lawsuit For Ghosting Their Former Chief Legal Counsel And Others When It Was Time To Repay
(DBN)

Musk says owning Twitter 'painful' but needed to be done
(DBN)

NPR suspending Twitter use over "government-funded" label • NPR quits Twitter, says the platform is 'undermining' its credibility • Musk tweets "Defund NPR" after outlet suspends Twitter use
(DBN)

Elon Musk’s Free-Speech Charade Is Over
(DBN)

Musk makes big claim about Twitter finances in wide-ranging BBC interview
(DBN)

Twitter Blue is approving users with the N-word in their handles
(DBN)

Schumer lays groundwork for Congress to regulate AI
(DBN)

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Movie Theaters:

Will National CineMedia’s bankruptcy drag cinema advertising down with it?
(DBN)

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Autos:

Carl Icahn Doing Carl-Icahn-y Things
(DBN)

New Vehicle Prices Fall Below Sticker Price After Nearly Two Years - Kelley Blue Book
(DBN)

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Healthcare:

States confront medical debt that's bankrupting millions
(DBN)

Biden expanding migrant access to government-funded health plans, officials say
(DBN)

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Food/Beverage:

Burger King franchise files for bankruptcy and closes doors for good in six states
(DBN)

Monthly egg price decline is largest in 36 years
(DBN)

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Economy:

Inflation took a massive plunge in March • Consumer prices rose at more moderate pace in March • Inflation eased to 5% in March, its lowest level in almost 2 years • Cleveland Fed: Median CPI increased 0.4% and Trimmed-mean CPI increased 0.2% in March • Inflation cooled to 5% in March, but consumer pain is set to linger • Here’s the inflation breakdown for March 2023 — in one chart • Five takeaways from the March inflation slowdown • Inflation eases as corporate profits fall from record levels • How the inflation report is playing with Biden, Powell and Jamie Dimon • March inflation report hints at cooler price gains
(DBN)

US stocks climb after inflation data shows prices cooled more than expected in March
(DBN)

Wage growth returns with cooling inflation
(DBN)

Deficit Tops $1 Trillion in First Six Months of FY2023
(DBN)

Fed expects banking crisis to cause a recession this year, minutes show • Federal Reserve staff projects "mild recession" after banking sector turmoil • Fed Leans Toward Another Hike, Defying Staff’s Recession Outlook
(DBN)

The Fed is winning its war on inflation — and it means America could avoid a painful recession
(DBN)

Fed economists project recession this year, in potential blow to Biden
(DBN)

GOP faces difficult budget fight as it nears 100 days in power
(DBN)

FOMC Minutes: "some additional policy firming may be appropriate"; Staff Predicts Recession
(DBN)

IMF: Risk of hard landing for US economy persists
(DBN)

U.S. government posts $378 billion deficit in March
(DBN)

Gen Z says parents should help pay their bills until they're at least 22. Boomers are against it, but giving in.
(DBN)

Gen Z isn't letting the economy keep them from living their most luxurious lives. They're just buying stuff secondhand instead.
(DBN)

Warren Buffett tears into banks, trashes bitcoin, and warns inflation and recession can lead to big problems
(DBN)

Remote Work and Household Formation
(DBN)

JPMorgan asks senior bankers to return to office for five days a week • JPMorgan orders managing directors back to office 5 days a week: ‘Lead by example’
(DBN)

U.S. sanctions Turkey-based entities it says helped Russia's war • U.S. Sanctions Hit Over 120 Targets Supporting Russia's Invasion Of Ukraine • The cap on Russian oil is unlikely to change soon — and it’s not clear if it’s working
(DBN)

Huge Changes to Social Security Are Likely on the Way: Here's How They Compare
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

The housing market has now bottomed out, and Americans are buying homes again
(DBN)

Mortgage rates drop to a 2-month low as the US job market shows signs of slowing
(DBN)

Bank of America clients have yanked $451 million from real-estate stocks as commercial property becomes investors' newest worry
(DBN)

Housing politics divide the suburbs
(DBN)

The nerd’s guide to Biden’s newest electric vehicle push
(DBN)

Fed’s efforts to fight housing inflation by hiking rates has backfired: Cramer
(DBN)

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Municipalities:

New Florida board seeks power over Walt Disney World cities
(DBN)

Two million people fled America’s big cities from 2020 to 2022
(DBN)

FEMA sued over efforts to rebuild Puerto Rico’s power grid
(DBN)

America’s mayors, desperate to slash crime rates, are ready to try almost anything
(DBN)

The cities with the highest — and lowest — unemployment levels
(DBN)

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Oil/Gas:

U.S. Proposes 56% Vehicle Emissions Cut By 2032, Requiring Big EV Jump
(DBN)

Electric cars get a reality check
(DBN)

Ukraine's Naftogaz says Russia told to pay $5 billion for seizing Crimea assets
(DBN)

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Politics:

‘Top of the Line!’ Trump Absolutely Fawns Over Brutal Dictators Putin, Xi and Kim Jong-un to Tucker Carlson
(DBN)

Trump says he'd "never drop out" of 2024 race, even if convicted
(DBN)

Head-to-head polls show Trump weakness vs. Biden, underwater approval
(DBN)

How Ron DeSantis waged a targeted assault on Black voters: ‘I fear for what’s to come’
(DBN)

100 days in power: House GOP honeymoon may be over
(DBN)

Tim Scott launches exploratory committee for 2024 presidential bid
(DBN)

Why these Democrats are defecting to the GOP
(DBN)

The Bud Light boycott, explained as much as is possible
(DBN)

Former 'SNL' star shows up at city meeting to rant about homosexuality
(DBN)

Memphis commissioners to meet to reappoint Justin Pearson, ousted Tennessee representative • How Tennessee Became the Poster State for Political Meltdown • Justin Pearson reinstated to Tennessee state House after expulsion • Second Tennessee state lawmaker reinstated • Trump steps into center of youth-led "Tennessee Three" backlash
(DBN)

Arizona GOP-controlled House expels Republican in historic vote
(DBN)

Biden's claim to have no knowledge of Hunter's business dealings is becoming harder to maintain
(DBN)

Feinstein's condition sparks concern she won’t return to the Senate • Feinstein to give up Judiciary seat amid calls for resignation
(DBN)

Dramatic realignment swings working-class districts toward GOP
(DBN)

Congress given access to Trump, Biden and Pence classified docs
(DBN)

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Food/Beverage:

Restaurant prices are rising faster than grocery prices for the first time since inflation ran hot
(DBN)

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Sports:

Bally Sports’ parent company files court docs to cut payments to Guardians, Twins, Diamondbacks
(DBN)

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Banking:

SVB lobbied Congress for years to loosen bank regulations. Lawmakers knew the risks.
(DBN)

It cost $22 billion to rescue two failed banks. Now the question is who will pay • The FDIC's 'special' fee to make banks pay for SVB cleanup
(DBN)

Warren Buffett Predicts More Bank Failures • Buffett: Do not panic about U.S. banks and deposits
(DBN)

Warren Buffett slams banks for hiding their losses - and reveals he sold some bank stocks after spotting red flags
(DBN)

Big banks' balance sheets will swell after the recent turmoil – and that could be bad news for Americans, ex-Barclays boss says
(DBN)

A chaotic Q1 suggests US banks’ earnings will be muted and outlook uncertain
(DBN)

Credit Suisse rescue rebuked by half of Swiss parliament
(DBN)


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Education:

Texas county weighs closing local library after federal judge orders banned books returned to circulation
(DBN)

MO: GOP Votes to Defund Public Libraries
(DBN)

‘School Choice’ Is Just a Ploy to Defund Public Ed
(DBN)

University of Minnesota "committed genocide" of Native people, report concludes
(DBN)

Should College Come With Trigger Warnings? At Cornell, It’s a ‘Hard No.’
(DBN)

Wisconsin Teacher Who Complained About “Rainbowland” Song Ban Placed on Administrative Leave
(DBN)

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New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (10 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:

Chapter 11 Bankruptcy Filings Climbed 79% in March
(DBN)

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Discharge:

Innocent Business Partner’s Fraud Liability Survives Bankruptcy
(DBN)

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Cross-Border:

Caution: Be mindful of Hong Kong’s focus on COMI in recognizing and assisting foreign liquidators
(DBN)

Year in review: Significant US Chapter 15 decisions in 2022
(DBN)

Insolvency law reform and capacity building in emerging markets: Bhutan, Armenia and Myanmar lead the way
(DBN)

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D&O:

D&O Risks in an Unstable Economy
(DBN)

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Bankruptcy Research:

Corporate bankruptcy cases have recently undergone a shift. After decades where creditors exercised outsized control, equity sponsors have now ascended the throne.
(DBN)

Bankruptcy's Identity Crisis
(DBN)

Creditors Strike Back: The Return of the Cooperation Agreement
(DBN)

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Swaps:

Dealing with a Swap Dealer in Distress
(DBN)

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Venue:

The Market for Bankruptcy Courts: A Case for Regulation, Not Obliteration
(DBN)

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Mass Torts:

LTL 2.0: The Largest Fraudulent Transfer in History
(DBN)

Boy Scouts Plan Pays All Claims In Full—100%—And Is Affirmed On Appeal
(DBN)

The Rule of the Deal: Bankruptcy Bargains and Other Misnomers
(DBN)

The fate of Texas Two Step in the US dealt setback in appellate ruling
(DBN)

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Aviation:

Airline stocks sink after American Airlines signals profit hit from rising labor, fuel costs
(DBN)

Delta Air Lines posts quarterly loss but forecasts profit as peak travel season approaches
(DBN)

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Water:

States face unprecedented water supply cuts under Colorado River plan
(DBN)

Colorado River cities and farms face dire trade-offs with new federal review
(DBN)

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Retailing:

Walmart closes half of its Chicago stores, signaling urban struggles
(DBN)

Whole Foods closes San Francisco store over safety
(DBN)

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Crypto:

The U.S. Cracked a $3.4 Billion Crypto Heist—and Bitcoin’s Anonymity - WSJ
(DBN)

Crypto Exchange FTX Could Reopen, Its Attorney Says; Firm’s FTT Token Surges • Bankrupt FTX Just Revealed It Has a New Plan -- And People Are Skeptical • FTX Trading Considers Restarting Failed Crypto Exchange With Creditor Money • Bankrupt FTX recovers $7.3 billion in assets, plans to relaunch services in Q2 • Judge Rejects Sam Bankman-Fried's Request for Insurance Money to Cover Legal Fees • FTX has recovered over $7bn and is planning for Chapter 11, says lawyer
(DBN)

Alameda to Be Repaid $53M Deltec Loan, Delaware Bankruptcy Court Rules
(DBN)

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Climate:

Study warns critical ocean current is nearing 'collapse.' That would be a global disaster.
(DBN)

The important climate study you won't hear about
(DBN)

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Fashion:

Bankrupt NYC fashion label Worth Collection was pillaged by buyout firms: lawsuit
(DBN)

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E-Cigarettes:

Juul to pay $462 million to California, New York and other states over claims it marketed vapes to minors
(DBN)

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Mail:

Runaway stampflation: Postage expected to increase again
(DBN)

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Sovereigns:

India, Japan, France announce new platform to restructure SL’s debts • India, Japan To Convene Creditors’ Meeting To Help Sri Lanka In Restructuring Piling Debt • SL Debt Treatment: China wants all creditors to share the burden • Sovereign debtors, creditors agree steps to jumpstart debt restructurings
(DBN)

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UK:

English High Court awards £90M to liquidator in landmark preference claim
(DBN)

UK-listed law firm Ince to seek sale after creditor bows out
(DBN)

UK economy stagnates in February as strikes and inflation bite
(DBN)

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Canada:

Canadian legislation aimed at protecting pension plans may mean significant changes for lenders, borrowers and employees
(DBN)

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Russia:

‘It Hurts, Stop’: Russian Warmongers Celebrate Beheading Video of a Still-Alive POW • Ukraine opens a war crimes investigation after a video appears to show a Russian soldier beheading a Ukrainian prisoner •Ukraine says Russia ‘worse than ISIS’ after beheading video • More Details Emerge Over Alleged Wagner Group Beheading Videos
(DBN)

What Russia’s New Crackdown on Draft Dodgers Says About Its Ukraine Offensive
(DBN)

Leak shows Western special forces on the ground • US, Ukraine say many war secrets safe from intel leaks
(DBN)

Anti-war Russians fleeing home are finding their way to Minnesota
(DBN)

UN: Ukraine civilian death toll likely ‘considerably higher’ than 8,500 counted
(DBN)

‘We’ve proved everybody wrong’: Ukraine claps back after counteroffensive intel leak
(DBN)

Russia jamming U.S. smart bombs in Ukraine, leaked docs say
(DBN)

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Mexico:

Mexico's top immigration official to be charged in detention center fire that killed 40 migrants
(DBN)

The American survivors of the deadly kidnapping by a Mexican cartel say their captors put guns to their heads and tried to force them to have sex
(DBN)

____________

MENA:

Holy Land Christians say attacks rising in far-right Israel
(DBN)

How millions are trapped in modern-day slavery at brick kilns in Pakistan
(DBN)

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China:

Apple Reportedly in Talks With Suppliers to Assemble MacBooks in Thailand • Apple Triples India iPhone Output to $7 Billion in China Shift
(DBN)

Young people in Greater China are blowing their paychecks every month
(DBN)

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Malaysia:

'I am solidly solvent and far away from insolvency' says Lee Kim Yew
(DBN)

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