April 19, 2023

The Daily Bankruptcy News

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3-Column Formating

 

Law:

Biglaw Firms May Have An Especially Tough Year In 2023
(DBN)

This Biglaw Firm Had A Tremendous 2022
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Biglaw Firm Cuts Associate And Staff Jobs In Latest Layoffs
(DBN)

Orrick Adds Restructuring Partner in New York
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Orrick Adds Restructuring Team in Paris Led by Aurélien Loric
(DBN)

The Am Law 100: Biglaw Gets Bucked Off At Rough Revenue Rodeo
(DBN)

I quit my job as a lawyer when I realized I could help more people by opening a coffee shop
(DBN)

In case of ‘textbook contempt,’ suspended lawyer who refused to comply with ethics orders is fined $100 a day
(DBN)

BigLaw partner agrees to pay more than $7.2M to settle allegations of unpaid taxes
(DBN)

28% of lawyers in this state considered leaving the profession because of mental health, burnout or stress
(DBN)

New York Rangers Sending Sandy Hook Survivor To Law School
(DBN)

Fox News-Dominion Blockbuster Defamation Trial Kicks Off in Delaware Fox News settles Dominion defamation lawsuit It Was A Game Of Chicken, And Fox Blinked Fox's $787.5 million settlement is big win for buyout firm Staple Street Fox’s $787.5 Million Settlement Gives PE Firm 1,500% Return 16 takeaways from Fox News' historic $787.5 million settlement with Dominion Tucker Carlson and Sean Hannity won't have to apologize on air for broadcasting false claims about Dominion as Fox News ponies up $787 million Fox News-Dominion settlement doesn’t end crisis for Rupert Murdoch’s empire Fox News-Dominion settlement totals more than $787 million, Dominion lawyer says "Fox has admitted to telling lies," Dominion CEO says 'Actual Malice' Standard Didn't Stop Dominion From Suing Fox News Because Sometimes Networks Leave Whole Paper Trails Of Malice Fox News Put Simpsons Clips On Exhibit List In Case You Were Wondering How Little They Expected To Go To Trial Dominion attorney says settlement represents a "ringing endorsement for truth and accountability" Dominion still has pending lawsuits against election deniers such as Rudy Giuliani and Sidney Powell Fox News-Dominion Trial Explained: Rupert Murdoch, Tucker Carlson, What’s At Stake & Who Could Win The key question at the Fox News defamation trial: Literally, what were they thinking? Judge formally names special master to investigate whether Fox withheld evidence from Dominion
(DBN)

Smartmatic says its pending case will further expose Fox News' wrongdoing after Dominion settlement
(DBN)

Fox's historic defamation settlement is just the beginning
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Manhattan DA pushes for info on whether Trump's attorney has conflict involving Stormy Daniels
(DBN)

Trump’s Fake Georgia Electors Are Now Ratting on Each Other
(DBN)

5 takeaways from Jim Jordan’s NYC hearing into Alvin Bragg and crime
(DBN)

‘Cheese-eating rat’: Defense lawyers seethe after DOJ pushes witness to identify more Jan. 6 perpetrators
(DBN)

Trump calls ex-chief of staff Mick Mulvaney ‘a born loser’
(DBN)

JPMorgan's Jamie Dimon to face 2 days of questioning in Jeffrey Epstein cases
(DBN)

Montana Wants an Official State Religion
(DBN)

White man claims he shot a Black teen who mistakenly rang his doorbell because he was 'scared': report White homeowner accused of shooting Black teen who went to the wrong house in Kansas City will face 2 felony charges, officials announce 84-year-old Missouri man accused of shooting Ralph Yarl has surrendered to police The GoFundMe page for Ralph Yarl, the Black teen who was shot after ringing the wrong doorbell, raised over $2.6 million in one day The outrage over Ralph Yarl’s shooting, explained Ralph Yarl claimed shooter told him 'Don't come around here' as he ran for his life Some urge hate crime charge vs. man accused in Black teen Ralph Yarl's shooting
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4 fatally shot in a Maine home and 3 others wounded after gunfire erupts on a highway
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FactCheck: “One in five Americans has lost a family member to gun violence.”
(DBN)

A man is suing Netflix for more than $1 million after it used his photo in an unrelated true-crime documentary while asking: 'Is this a guardian angel or a stone-cold killer?'
(DBN)

GOP lawmakers urge Supreme Court to let abortion pill restrictions take effect ‘The justices were kidding themselves’: Supreme Court takes up abortion after saying lawmakers should decide FactCheck: Abortion pills are dangerous and “1 in 5 women will suffer a complication.” Supreme Court takes on abortion pills
(DBN)

NYC ICE 'mostly booked' for migrants needing court dates — through 2033
(DBN)

US Family Immigration Detention Won't Restart 'At This Time,' Official Says
(DBN)

Son gets life in prison for hiring hitman to kill dad over real estate empire
(DBN)

Oklahoma governor calls for resignations after county officials reportedly discussed killing journalists, hanging Black people Sheriff’s office: Recordings of alleged discussions about killing reporters, hanging Black people were altered Oklahoma sheriff says recording of talk about killing Black people and journalists was made illegally
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Top jail staff forced out after lawyer says inmate 'eaten alive' by bedbugs in jail cell
(DBN)

"Rust" to begin production again after fatal on-set shooting
(DBN)

Fears of Austin serial killer after 8th body pulled from lake
(DBN)

Cold case: Slain Connecticut teen identified after nearly 50 years
(DBN)

A low-level airman is accused of using his top-secret clearance to leak the nation's secrets. Is the system broken?
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Judges:

The Clarence Thomas Scandal Is About More Than Corruption Senate Democrats eye a hearing on Clarence Thomas as Republicans shrug off gift revelations Clarence Thomas and the Case of Supreme Court Ethics Complaints about Justice Thomas’s disclosures sent to judicial committee Clarence Thomas Shows Why Supreme Court Justices Cannot Be Above the Law
(DBN)

Will former top administrative judge be third Oregon attorney to receive probation in a child porn case?
(DBN)

Threatening Mass Shooting Of Appellate Judges Not The Stellar Legal Argument Man Thought It Was
(DBN)

New NY Top Judge Went from Cravath to Leading Court Liberal
(DBN)

Alito appears eager to overturn decades of precedent in favor of Christian postal worker What the Supreme Court said Tuesday about working on the Sabbath Justices look for common ground in postal worker’s religious liberty case
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Wall Street:

Stock futures fall as investors digest latest earnings, higher rates
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Layoffs:

Opendoor makes second round of layoffs (560) as housing slump persists
(DBN)

EU seeks AI regulation, calls for summit on emerging tech as European workers fear oncoming job loss
(DBN)

David's Bridal submits WARN notice as company files for bankruptcy
(DBN)

Disney Is Poised to Eliminate Thousands of Jobs Next Week
(DBN)

Meta is about to start its next round of layoffs
(DBN)

Texas Bank Previously Backed by Archegos Makes Workforce Cuts
(DBN)

Amazon lays off some employees in its advertising unit
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Agribusiness:

You — yes, you — are going to pay for the century-old mistake that’s draining the Colorado River
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Cosmetics:

The ultimate guide to buying or selling a beauty brand facing bankruptcy
(DBN)

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Autos:

Tesla cuts U.S. prices for sixth time this year ahead of first-quarter results
(DBN)

Subprime Used Car Dealership With Dozens Of Locations 'Temporarily Closes'
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Economy:

US debt ceiling deadline could be sooner than anticipated, banks warn House Republicans won't commit to McCarthy's debt ceiling plan McCarthy muscles toward vote on debt plan that 'doesn't even exist' As Possible Debt Limit Crisis Nears, Wall Street Shrugs U.S. House Republicans Tangle Over Debt Limit, Spending Cut Plans McCarthy tries to wrangle Republicans on unfinished debt limit bill Biden-McCarthy escalate tit-for-tat over debt ceiling deal Americans could see their student debt, car, and mortgage payments surge because of Republicans' 'flirtation with the default,' top Democrat Hakeem Jeffries says Speaker Kevin McCarthy Heads Down Wrong Path on Debt Limit Millions of Americans could face massive consequences unless McCarthy can navigate out of a debt trap he set for Biden GOP Inching Towards a Debt Ceiling Fight
(DBN)

The global economy's fractured new normal
(DBN)

De-Dollarization Is Happening at a ‘Stunning’ Pace, Jen Says
(DBN)

Biggest US banks write off $3.4 billion in bad consumer loans
(DBN)

Public pessimism on the economy hits a new high, CNBC survey shows
(DBN)

Even a mild recession could cause stocks to crater by 15% or more, JPMorgan’s Kolanovic says
(DBN)

Fed's Bullard discounts recession talk, favors more rate hikes, 'higher for longer'
(DBN)

US Paychecks Are Outpacing Inflation, Giving Fed Fodder for Interest Rate Hike
(DBN)

Wall Street’s recession forecasts for 2023 are wrong and the economy is poised to keep growing, Fed President James Bullard says
(DBN)

Stocks may slump if banking fears choke growth – and the Fed should end its inflation fight, Wharton professor Jeremy Siegel says
(DBN)

The credit crunch caused by the banking turmoil may help the Fed's inflation fight, but it will hurt the economy and earnings, eToro strategist says
(DBN)

Misery Index
(DBN)

The federal government wastes at least $247 billion in taxpayer money each year. Here’s how
(DBN)

US companies may be unknowingly helping Russia evade the oil price cap, Treasury warns U.S. and E.U. Face Uphill Fight in Keeping Chips Out of Russia Putin’s Back Door for Whisky, Cognac Gives Distillers a Headache Sweden’s Absolut Vodka to stop exports to Russia after boycott A Price Cap Loophole Is Undermining Sanctions On Russian Oil U.S. Treasury Dept. Issues Warning About Buying Russian Crude Above Price Cap
(DBN)

NYC ranked wealthiest city on planet
(DBN)

Biden issues executive order to make child and home care cheaper
(DBN)

Big Business and Labor Unions Flood FTC With 25,000 Comments on Non-Compete Rule
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US Debt Clock
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World Debt Clock
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How People Really Live
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Real Estate:

Billionaire investor Howard Marks sounds the alarm on commercial real estate – warning of a wave of mortgage defaults
(DBN)

Housing Starts Decreased to 1.420 million Annual Rate in March Housing starts plunge 17.2%, raising recession fears
(DBN)

March Housing Starts: Most Multi-family Under Construction Since 1973
(DBN)

Rising Interest Rates Brought Down Reverse-Mortgage Lender - WSJ
(DBN)

Miami Housing Market Cools but Still Hottest Around - WSJ
(DBN)

Rents just fell to their lowest level in over a year as ballooning prices from the pandemic start to deflate, Redfin says
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Municipalities:

Oversight Board, others argue against certifying appeal of PREPA lien
(DBN)

Whitmer's office casts doubt on Highland Park's bankruptcy request Highland Park residents' concerns grow over council's plans to seek bankruptcy over water bill debt
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Education:

Up to one in four middle and high school students are abusing Adderall
(DBN)

From Harvard to Stanford, US College Campuses Are Failing Students
(DBN)

Iowa: 2 Teens Kill Teacher Over Bad Grades
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Student Debt:

Biden DOJ wins transfer of lawsuit challenging student loan rule away from conservative Texas court
(DBN)

A federal judge who first blocked broad student-loan forgiveness just gave Biden a win by agreeing to pass on a case challenging a debt relief rule
(DBN)

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Tech:

Musk Admits Twitter Purchase Wasn’t ‘Financially Smart’—And He Paid Twice What It's Worth
(DBN)

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Healthcare:

Lose weight, but gain huge medical debt
(DBN)

The COVID origins debate isn't going away
(DBN)

Covid May Increase the Risk of Type 2 Diabetes, Researchers Find
(DBN)

New Doctors Avoid States with Abortion Bans
(DBN)

Why mortality for young Americans is increasing at an alarming rate
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Retailing:

Divorcing David's Bridal Plunging marriage rates and more casual weddings push David’s Bridal into bankruptcy Brides turn to local boutiques as largest wedding gown retailer in US files for bankruptcy
(DBN)

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Cannabis:

Americans now spend more on legal weed than chocolate
(DBN)

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Politics:

America’s Looming Conflict: Red Judges vs. Blue Governors
(DBN)

Disney announces first official LGBTQ event at Disneyland right after DeSantis threatens the company Disney promotes first-ever ‘Pride Nite’ on Twitter after DeSantis warning Trump, other potential 2024 rivals slam DeSantis over Disney feud ‘So unnecessary’: Republicans pile on DeSantis over Disney Ron DeSantis is plotting revenge on Disney DeSantis spoof Bud Light ad goes after ‘real men of women’s sports’ Chris Christie Dunks On Ron DeSantis For Getting Out-Lawyered By Disney DeSantis Donors Rip Him in Private Chats
(DBN)

How DeSantis became Florida’s most powerful governor in a generation
(DBN)

Trump takes DeSantis fight to Florida
(DBN)

Ted Cruz Wants You To Believe That The 'Real' Racism Is Holding Powerful Multimillionaires Entrusted To Enforce And Obey The Law Accountable
(DBN)

Trump returns to Instagram to market his NFT trading cards
(DBN)

Rep. Paul Gosar's newsletter links to an antisemitic website
(DBN)

How Bud Light became a microcosm of America in 2023
(DBN)

Memorials to racial violence face resistance in U.S.
(DBN)

McCarthy's existential test
(DBN)

Chris Christie says neither Trump nor DeSantis should be President
(DBN)

Senate GOP pops Feinstein Judiciary replacement balloon Feinstein resignation chatter gets louder Dems can't subpoena Clarence Thomas without her vote GOP women lawmakers come to Feinstein's defense
(DBN)

Republicans rip SEC chief for crypto lawsuits, climate rules
(DBN)

Torch-carrying marchers indicted in Charlottesville rally
(DBN)

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New Bankruptcy Opinions
(2 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (22 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:

Q1 Bankruptcy League Tables: Party's Over Q1 Restructuring League Tables: Picking Up Pace
(DBN)

Predicting Bankruptcy : Ask the Employees
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Avoidance Actions:

Court Rules That Initial Transfer Need Not Be Avoided Before Recovery From Subsequent Transferee
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Mass Torts:

Bankruptcy Amnesia
(DBN)

J&J talc unit asks judge to halt cancer lawsuits as it pursues $8.9 billion settlement J&J unit takes fresh aim at 38,000 cancer lawsuits
(DBN)

Judge to decide if he will halt J&J talc lawsuits on Thursday
(DBN)

Johnson & Johnson Swings To Loss As It Books Multibillion-Dollar Charge To Settle Talc Claims
(DBN)

"Otherwise Consistent": A Due Process Framework for Mass-Tort Bankruptcies
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History:

Conceit-Of-The-Present: In Science, Construction, Mediation and Bankruptcy
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Aviation:

United Airlines posts net loss but forecasts profit for second quarter
(DBN)

Southwest Airlines briefly grounds all flights nationwide due to 'technical errors' What we know about the Southwest Airlines computer glitch Livid Southwest Airlines passengers 'told stranded planes glitch may take 6 hours to fix'
(DBN)

Airline Blunder Sells $10,000 Asia-US Business Class Tickets for $300
(DBN)

Jalan-Kalrock consortium yet to make payments to creditors: Sources
(DBN)

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Climate:

Sprawling heat wave envelops large swath of Asia
(DBN)

Rapidly developing El Niño set to boost global warming
(DBN)

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Labor:

UPS starts contract negotiations with Teamsters Union
(DBN)

Iowa Pushes for More Child Labor, Longer Hours
(DBN)

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Crypto:

Tribe Capital considers reviving bankrupt crypto exchange FTX: Report
(DBN)

Babel Finance Gains Time for Debt Repayment with Extended Creditor Protection Crypto lender Babel gets extended creditor protection in Singapore
(DBN)

McHenry clashes with SEC's Gensler over crypto crackdown
(DBN)

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Banking:

US financial institutions hit by deposit flight as clients seek higher returns
(DBN)

Seized assets from Silicon Valley Bank and Signature Bank are fetching 85 to 90 cents on the dollar
(DBN)

Beleaguered Swiss Bank Accused of Impeding Hunt for Accounts Linked to Nazis
(DBN)

Bank Executives See No ‘Cracks’ Even as Credit Card Write-Offs Soar
(DBN)

Silicon Valley Bank’s failure is no reason for stricter bank regulation
(DBN)

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Sports:

Bally Sports Bankruptcy: The Cincinnati Reds Become Latest MLB Team to Get Stiffed By Sinclair
(DBN)

Diamond RSN’s Missed Payments Spur Late May MLB Court Fight
(DBN)

Bally Sports Southwest parent company fails to make April rights payment to Rangers Texas Rangers join MLB motion in Diamond Sports bankruptcy seeking overdue fees: What’s next?
(DBN)

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Fraud:

Elizabeth Holmes is asking a judge to reverse her 'unjust' conviction or reduce her 11-year sentence one week before she's set to report to prison
(DBN)

US Prosecutors Say Ex-NFL Investor Should Get Seven Years in Crypto Scam
(DBN)

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Sovereigns:

China as a creditor
(DBN)

Instead of recognizing mismanagement, he is blaming creditors for Ghana’s debt burden
(DBN)

The debt games - Is there a way out of the maze?
(DBN)

Sri Lanka GDP Outlook Slashed as Economy Struggles to Recover
(DBN)

‘We should be worried’: Finance leaders warn rising interest rates are squeezing low-income nations
(DBN)

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UK:

“It’s the principle of the thing”: HMRC fights back against UK Restructuring Plans
(DBN)

R3 responds to March 2023 insolvency statistics
(DBN)

Ince to Seek Sale After Creditor Bows Out
(DBN)

The Brexit Backer That Gives England Nothing
(DBN)

Brexit a big factor in companies snubbing London for New York, says senior economist
(DBN)

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Russia:

A malfunctioning missile stopped a Russian jet from shooting down a UK spy plane. Here's what could have happened if it had succeeded.
(DBN)

Lavrov: Russia wants conflict in Ukraine to end as soon as possible
(DBN)

Putin’s Regime Is Descending Into Stalinism
(DBN)

Russian artillery and aerial attacks against Bakhmut are growing fiercer, Ukraine says.
(DBN)

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Sudan:

Fighting rocks Sudan despite rival generals agreeing to cease-fire
(DBN)

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MENA:

Iran will destroy Tel Aviv, Haifa at slightest Israeli action - Raisi
(DBN)

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India:

Adani Group debt increases 21% over past year
(DBN)

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Spain:

Judge Awards Abengoa, Spain’s Largest Industrial Bankruptcy, To Cox Energy
(DBN)

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