April 26, 2023

The Daily Bankruptcy News

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3-Column Formating

 

Law:

Some law firms avoid layoffs by adjusting associate class years downward
(DBN)

What Should You Do If Your Biglaw Firm Is Making Class-Year Adjustments Among Associates?
(DBN)

Kirkland & Ellis, Ropes & Gray Throw Associates Under the Bus
(DBN)

Partners At This Biglaw Firm Aren't Making As Much Money As They Used To
(DBN)

What A Nonequity Biglaw Partner Is Worth
(DBN)

Which Law Firms Do In-House Counsel Turn To When They Need Help?
(DBN)

Law Schools Are Bringing Out Big Names As 2023 Graduation Speakers
(DBN)

Convicted double murderer Alex Murdaugh indicted on new financial crimes
(DBN)

Few Things Make You Appreciate A Team Like Going Solo
(DBN)

Lawyers Getting Money From Their Clients Is One Thing, But Vice Versa?
(DBN)

For 2022 law grads, bar-pass-required jobs increase, while JD-advantage positions decrease
(DBN)

‘Bluey’ and teaching your children about the legal system
(DBN)

Lawyers suspended for copying client data, unilaterally notifying clients about new firm
(DBN)

NYU Law School Denounces 'Heckler's Veto' Despite Having No Clue What 'Heckler's Veto' Even Means
(DBN)

Georgia’s discipline process racially biased, suit claims; data on alleged disparity sought
(DBN)

Grit and growth mindset boosts work of teams, new ABA report finds
(DBN)

Don Lemon & Tucker Carlson Reportedly Hire the Same Powerhouse Attorney After Being Axed From CNN & Fox News • Don Lemon lawyers up after shock firing from CNN, still has $20M left on deal: reports • Tucker Carlson: Litigation Supernova • All the Texts Fox News Didn’t Want You to Read
(DBN)

Proud Boys leader: Trump caused Jan. 6 attack
(DBN)

Donald Trump goes on trial, accused of rape • Trump no-shows start of own rape trial in lawsuit filed by E. Jean Carroll • 26 Women Have Accused Trump of Sexual Misconduct. He Finally Has to Face One in Court •Team Trump Takes One More Stab At Pissing Off Judge Before Start Of E. Jean Carroll Defamation Trial • Donald Trump 'jammed' his hand up E. Jean Carroll's dress: Lawyer • E. Jean Carroll v. Donald Trump: Trials are unpredictable, but this one has a roadmap
(DBN)

Manhattan DA seeks to stop Trump from discussing evidence in fraud trial
(DBN)

Hunter Biden ordered to appear in Arkansas court for paternity case
(DBN)

Texas Agency Threatens to Fire People Who Don’t Dress ‘Consistent With Their Biological Gender’
(DBN)

 The US in 2022 saw highest number of ‘active shooter’ casualties – deaths or injuries – of the past 5 years, FBI report finds
(DBN)

'Killer clown' suspect pleads guilty to murdering her husband's then-wife in 1990 ambush
(DBN)

Lori Vallow trial draws mommy-bloggers, true-crime fanatics, and a practicing witch to Idaho courtroom
(DBN)

'White Lives Matter' protestor charged with hate crime in church attack over drag events
(DBN)

North Dakota Bans Nearly All Abortions
(DBN)

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Judges:

Biglaw Head Bought Neil Gorsuch's Property In 2017. Yes, We Are Just Learning About It Now. • A property owned by Neil Gorsuch was bought by the head of a major law firm days after he was confirmed to the Supreme Court •Now Neil Gorsuch Has His Own Mystery Money Scandal • BigLaw CEO bought property partly owned by Gorsuch, who didn’t disclose the buyer
(DBN)

Clarence Thomas’s Friend of the Court
(DBN)

Nearly 20 years ago, Scalia explained why he didn’t consider jet trip a gift
(DBN)

Supreme Court commits to ethics, stopping short of binding code
(DBN)

Roberts declines Senate request to testify on court ethics
(DBN)

The real reason for the Supreme Court’s corruption crisis
(DBN)

Federal Judge Throws Hissy Fit After Majority Commits Grave Personal Offense Of... Ruling The Other Way
(DBN)

It Looks Like Sotomayor Is 1 Of 3 Supreme Court Justices Who Actually Believes The Whole 'Do The Crime, Do The Time' Thing
(DBN)

Judges Teach Civility Skills in Recognition of Law Day
(DBN)

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Wall Street:

Stock futures rise after Microsoft, Alphabet post earnings beats
(DBN)

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Layoffs:

Is AI Coming for Your Job?
(DBN)

The layoffs are here for those who chose to 'learn to code'
(DBN)

3M to Cut 6,000
(DBN)

2023 layoff tracker: The latest on which companies have announced job cuts
(DBN)

Stellantis will offer buyouts to cut hourly workforce by 3,500
(DBN)

RapidAPI, valued at $1 billion last year, cuts staff by 50%
(DBN)

Gap will cut more than 500 workers in latest layoffs
(DBN)

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Media:

No, seriously, why did Fox News fire Tucker Carlson? • This May Have Been Tucker Carlson’s Biggest Mistake • Is This How Tucker Carlson Runs for President? • What Tucker Carlson Leaves Behind as He Is Shown the Door • Trump expresses shock over Tucker Carlson's ouster: 'Especially over the last year or so, he's been terrific to me' • Tucker Carlson has now parted ways with 3 major cable news networks • Russia Is Not Happy About Tucker Carlson Leaving Fox News • Hysterical Putin Pals Claim the Deep State Took Out Tucker Carlson • Tucker Carlson Is Out at Fox News and QAnon Is Taking It Just Fine
(DBN)

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Healthcare:

Phony doctor treated thousands of patients over years, including for cancer, prosecutors say
(DBN)

All Transgender Texans May Loss Access to Care
(DBN)

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Sports:

Trans runner beat 14K women in London Marathon after running NYC as a man
(DBN)

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Retailing:

The $11.8 billion mistake that led to Bed, Bath & Beyond’s demise
(DBN)

Bed Bath & Beyond stock to be delisted from Nasdaq following bankruptcy filing
(DBN)

Bed Bath & Beyond just filed for bankruptcy with its shares down 99%. Here are the winners and losers from the meme stock's epic rise and fall.
(DBN)

David's Bridal Went Bankrupt Because It Didn't Speak to the Skeptical Bride
(DBN)

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Economy:

Stocks will have to plummet like in 2008 for the GOP to raise the debt ceiling, House Democrat says • McCarthy edges Republicans closer to House debt vote • McCarthy runs into a wall of corn • House GOP chaos raises doubts about McCarthy's political credibility • US default on debt would trigger an 'economic catastrophe' - Yellen
(DBN)

U.S. trucking downturn foreshadows possible economic gloom
(DBN)

After going on a shopping spree, Americans are spending less
(DBN)

Billionaire investor Leon Cooperman says the US is going through a 'textbook' financial crisis and the S&P 500 won't hit a new high for a long time
(DBN)

As possible Social Security benefits cut looms, GOP senator says lawmakers are working on a ‘big idea’ fix
(DBN)

Remote work hasn't been the best for my career — I was passed up twice for promotions. But it's been amazing for my personal life.
(DBN)

Here's a list of major companies requiring employees to return to the office
(DBN)

India could rely on Russia for half its oil imports soon as Moscow continues to sell cheap barrels • Outrage as 'shameful' Beefeater Gin owner quietly resumes exporting to Russia • Putin signs decree on retaliatory measures on sanctions, state media says
(DBN)

Las Vegas March 2023: Visitor Traffic Down 1.1% Compared to 2019; Convention Traffic Up 39.6%
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

US Supreme Court mulls legality of a state's property tax 'windfall'
(DBN)

MBA: Mortgage Applications Increased in Weekly Survey
(DBN)

New Home Sales Increase to 683,000 Annual Rate in March; Likely New Home Sales will be up YoY in Mid-2023
(DBN)

Case-Shiller: National House Price Index "Declines Moderated" to 2.0% year-over-year increase in February • Comments on February Case-Shiller and FHFA House Prices
(DBN)

The housing market just made a surprise rebound as prices rise after 7 consecutive months of declines
(DBN)

Workouts and Remediation of Student Housing Project Bonds
(DBN)

NYC’s biggest office owners are giving portfolio-wide perks to tenants
(DBN)

First Republic handed out billions in ultra-low-rate mortgages to the wealthy. It backfired horribly.
(DBN)

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Municipalities:

Lack of consensus risks PREPA bankruptcy dismissal, judge warns
(DBN)

Half of N.Y.C. Households Can’t Afford to Live Here, Report Finds
(DBN)

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Oil/Gas:

Electric car sales in 2022 hit over 10 million, and China led the way, IEA says
(DBN)

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Politics:

2024 Republicans eye new abortion battle lines
(DBN)

Manchin threatens to back repeal of major climate and tax measure over Biden's energy policies
(DBN)

The Inside Story of How Biden Cleared the Field for His Re-Election Bid • Joe Biden’s Hopes of Reelection Face One Major Stumbling Block • Biden's final campaign will put his economic vision to the test • We Were Wrong About President Biden
(DBN)

What young Democrats want from a 2nd Biden campaign
(DBN)

Biden's never-Trump campaign for '24
(DBN)

Republicans Did Something Most People Don’t Like, So They’re Changing the Rules
(DBN)

Ron DeSantis’ trip abroad funded by group long despised by some Florida Republicans
(DBN)

Disney v DeSantis: how a corporate behemoth turned beacon of diversity
(DBN)

A former GOP strategist says Tucker Carlson would be a huge threat to Trump if the ex-Fox News host were to run for president in 2024
(DBN)

____________

Education:

AP Black history course will change after months of political discourse, College Board says
(DBN)

Long-troubled San Francisco Art Institute declares bankruptcy
(DBN)

Texas school district votes to place armed civilians in schools
(DBN)

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Autos:

A group of Tesla investors including big pensions and institutions are calling for the board to rein in Elon Musk • Tesla investors are worried Elon Musk enjoys operating "above the law" • Musk Bets the House of Tesla on Low Prices and Razor-Thin Margins • Tesla Is Still Struggling to Lure Buyers After Price Cuts. That's an Ominous Sign for the Economy
(DBN)

G.M.’s Profits Fell 18.5 Percent in the First Quarter
(DBN)

____________

Banking:

First Republic Shares Fall Nearly 50% • More bank jitters as First Republic probes asset sales, 'bad bank' options • This is First Republic’s plan to avoid a U.S. government takeover • First Republic, KPMG sued for concealing bank's risks • First Republic Bank Hit with Banking Crisis-Related Securities Suit • Bankers’ pitch to save First Republic: Help us now, or pay more when it fails • First Republic Says It Will Soldier On. Investors Don't Appear Convinced •Pushing the wrong buttons too often as First Republic gets weird
(DBN)

Banks ‘aren’t out of the woods’ after the collapse of SVB and Signature
(DBN)

Tougher bank regulations won’t head off next financial crisis
(DBN)

____________

Crypto:

The cofounder of Terraform Labs was indicted by South Korea on charges related to the $60 billion crypto crash, report says
(DBN)

FTX Agrees to Sell LedgerX for $50 Million, to Seek Bankruptcy Court Approval on May 4 • FTX's LedgerX Derivatives Exchange Sold to Miami International Holdings in Bankruptcy Auction
(DBN)

Bitcoin price jumps in the wake of First Republic Bank price crash
(DBN)

Binance.US calls off $1.3 billion deal to buy bankrupt crypto firm Voyager • Voyager Digital Says Binance.US Sent Letter Terminating $1B Asset Buy Deal
(DBN)

Genesis settlement disrupted by new creditor demands, DCG says • Genesis Files for Mediator Assistance Over Amount of DCG Contribution to Reorganization • Lenders to Genesis Capital walk away from restructuring deal • A 'Subset' of Creditors Walked Away From Genesis Deal: DCG
(DBN)

The majority of creditors want Hodlnaut to be liquidated • Algorand Foundation Among Creditors Opposing Restructuring of Troubled Crypto Exchange Hodlnaut
(DBN)

____________

Mass Torts:

Talc plaintiffs urge court to reject Johnson & Johnson's latest bankruptcy attempt
(DBN)

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New Bankruptcy Opinions
(3 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (15 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (11 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)

Cross-Border:

When is a Cayman Islands liquidation not a foreign proceeding?
(DBN)

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Sovereign Immunity:

Justices dubious of creating “extra-special super-super clear statement rule” to exempt tribes from obligation to respect bankruptcy process
(DBN)

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Secured Claims:

Calculation of Secured Claims
(DBN)

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Arbitration:

When Claim Objection Must Go To Arbitration—And When Not: Defensive v. Offensive Deployment (Johnson v. S.A.I.L.)
(DBN)

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Intercreditor:

‘Tyranny of the majority’: creditor infighting comes to $1.4tn leveraged loan market
(DBN)

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Non-Profits:

Unique Issues Faced by Non-Profits in Bankruptcy
(DBN)

____________

Sales:

Use It or Lose It: U.S. Supreme Court Unanimously Holds in MOAC Mall Holdings LLC That 363(m) Protections Can Be Waived
(DBN)

Supreme Court Pokes a Hole in the Ironclad Nature of Bankruptcy 363 Sales
(DBN)

____________

Corporate Governance:

Determining Insolvency: A Critical Duty for Directors at Distressed Companies
(DBN)

____________

Aviation:

4 arrested after wild plane brawls end in smashed window, emergency landing
(DBN)

3 TSA Agents Attacked at Phoenix Airport
(DBN)

He bought a budget airline for 30 cents in 2001 and turned it into one of Asia's top budget airlines. Now, he's ready to walk away.
(DBN)

____________

Mining:

In the Game of Musical Mines, Environmental Damage Takes a Back Seat • How We Measured the Environmental Cost of Bankrupt Mines
(DBN)

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Labor:

A Group of Amazon Drivers Just Joined One of the Biggest Unions in the US
(DBN)

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SPACs:

SPACs Delivered Easy Money, Now Companies Are Running Out
(DBN)

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Fraud:

Bannon associates to be sentenced for fraud over Trump's border wall
(DBN)

Federal Judge Grills Mysterious Guru Accused of Breaking Up Families
(DBN)

____________

Water:

Calif., to Deliver All of the Requested Water in '23
(DBN)

____________

Climate:

Here Are the Places Most at Risk From Record-Shattering Heat
(DBN)

Tempers fray as climate activists glue themselves to roads in Berlin
(DBN)

California's "Big Melt" set to accelerate amid heat wave
(DBN)

Major VCs link arms in new climate push
(DBN)

____________

Student Debt:

37 million student-loan borrowers will get ’the most affordable repayment plan ever’ when new contracts with 5 companies go into effect next year, Biden’s Education Department says
(DBN)

____________

Tech:

Elon’s blue check disaster is getting worse
(DBN)

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Sovereigns:

World Bank Chief Economist Gill calls for new approaches to address ‘debt crisis’
(DBN)

Sri Lanka trying to reduce overall debt by $17 billion, president says
(DBN)

____________

UK:

The Excluded Asset Gap: Why Floating Charges Capture Realizations of Unsecured Assets
(DBN)

Cross-Border Bankruptcy Orders
(DBN)

Brexit Has Made British Lives Worse
(DBN)

Bank of England to Brits: Accept Being Poorer
(DBN)

____________

Russia:

Putin ally: We are probably on verge of a new world war
(DBN)

How Putin spent 20 years rebuilding Russia’s military ‘and then just simply destroyed it’ in Ukraine, according to an expert who watched it happen
(DBN)

____________

MENA:

Iran charges two actresses for not wearing hijab
(DBN)

____________

Sudan:

Americans rush to escape before Sudan plunges into civil war
(DBN)

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