April 4, 2023

The Daily Bankruptcy News

View prior editions: Click Here
View prior case summaries: Click Here
Search prior headlines: Click Here
Search prior case summaries: Click Here

3-Column Formating

 

Law:

Kirkland & Ellis Lays Off Associates Across US Offices
(DBN)

Stealth Layoffs Strike Once Again At World's Wealthiest Biglaw Firm
(DBN)

Hunton Andrews Kurth Names New Restructuring Partner
(DBN)

February Bar Exam MBE Score Sinks To All-Time Low Thanks To Repeat Testers, COVID-19
(DBN)

The Best Law School In The World According To The Worst Ranking Methodology In The World
(DBN)

Nearly $1,000 an hour is rate for second-year associates at these BigLaw firms
(DBN)

Teacher shot by 6-year-old files $40 million lawsuit, claims warnings ignored
(DBN)

Cadwalader partner reportedly resigns to lead Trump’s representation in Manhattan DA’s criminal case
(DBN)

Law firm scammed out of nearly $84K may pursue two claims against Wells Fargo, federal judge says
(DBN)

Body of Stephen Smith, found dead on South Carolina road, exhumed Stephen Smith's body has been exhumed, new reward offered: Family attorney
(DBN)

Former Cohen Milstein partner who led firm’s sex-abuse team charged with child-porn possession
(DBN)

Say Hello To 'Law Daddy': Gwyneth Paltrow's Lawyer Becomes Viral Trial Hunk
(DBN)

Trump to be charged Tuesday with 34 felony counts, but spared handcuffs and mug shot Trump taps white-collar attorney to helm indictment defense Mugshot? Handcuffs? What to expect at Trump’s NYC arraignment Tuesday Trump Prepares to Surrender Himself — and Fight Case All the Way Trump will be fingerprinted and charged early this afternoon No electronics in courtroom for Trump’s arraignment, judge says Trump Judge Bars Broadcast of First Hearing in Hush Money Case How Trump Is Negotiating the Details of His Indictment to Maximize the Drama Trump Rummaged Through Boxes of Classified Materials at Mar-a-Lago: Report Justice Dept. said to have more evidence of possible Trump obstruction at Mar-a-Lago Trump Personally Rifled Through Mar-a-Lago Docs Before Subpoena — Report Trump campaign raised $7 million since indictment, aide says Trump lawyers oppose cameras at arraignment, warn of ‘circus-like atmosphere’ Trump Vows More Attacks on NYC DA What Trump risks if he keeps talking about the judge in his N.Y. criminal case This Judge Is About To Preside Over A Media Circus -- And The Criminal Case Against Donald Trump Polls: Most Americans support Trump indictment but say politics played role Will Donald Trump’s mug shot become a defining image of the 21st century? Trump’s Big Mouth Could Send Him to Jail In Days Before Trump Appears in Court, Few Signs Point to a Jan. 6 Repeat Michael Cohen on the Trump indictment: "I expect complete and total mayhem" Trump’s Team Blasts His Lawyer as ‘Dumb’ ‘Loudmouth’ Trump lawyer Joe Tacopina warns that we might be on the 'eve of destruction' the night before Trump's arraignment Trump faces felony charge, source says Trump heads into unknown as New York arraignment looms Hours from his own arraignment, Trump says Manhattan DA Alvin Bragg should 'INDICT HIMSELF' Why gag order fight could play right into Trump's hands in hush-money case Trump's lawyers believe a Manhattan judge will impose a gag order on Monday that will ban him talking about his Tuesday arrest in NYC - with a penalty of 30 days jail time or $1,000 fine Manhattan DA’s record distorted amid Trump case Trump faces setbacks in other probes as NY case proceeds What's next legally for Trump after indictment Trump Adds Ex-Manafort Lawyer Todd Blanche to His Defense Team 13 questions and answers on Trump’s indictment Russian Bomb Hoax Targets Manhattan District Attorney's Office Trump Arrives in Manhattan Ahead of Arraignment Circus Covering the Courthouse Circus Trump's bigger legal danger The Trump Indictment Reveals More About Our Politics Than It Does About the Ex-President “Soros-backed”: The GOP’s favorite attack on the man prosecuting Trump, explained The four criminal investigations into Donald Trump, explained
(DBN)

ABA asks Supreme Court to review Alabama case involving fixed bail amounts
(DBN)

My phone, my credit card, my hacker, and me
(DBN)

Clearview AI scraped 30 billion images from Facebook and gave them to cops: it puts everyone into a 'perpetual police line-up'
(DBN)

Florida becomes 26th state to allow permitless carry of concealed guns Florida concealed carry goes permitless, and gun instructors hope for the best
(DBN)

Nashville school shooter spent months planning attack, police say Nashville shooter fired 152 shots inside school, documented plans to commit mass murder, police say
(DBN)

States aim to boost school safety after Tennessee shooting
(DBN)

This New Abortion Ban Could Wipe Out Abortion Access in the South Florida Senate approves 6-week abortion ban as two Republicans vote 'no' Mexico Network Helps US Women with Abortions
(DBN)

TX: Bill Attacking Trans Kids Advances
(DBN)

Neo-Nazi Who Firebombed Drag-Friendly Church Had Been Spewing Anti-LGBTQ Hate Tennessee Judge Rules That Law Banning Drag Shows Is Constitutionally BS Even the CMT Awards Show Had a Group in Drag
(DBN)

Texas Man Used AirTag to Track and Kill Suspected Truck Thief - "Texas’ laws state that a person can use deadly force against another person in cases of “unlawful interference” with their property"
(DBN)

"Most wanted" couple arrested in Mexico, 5 kids missing from U.S. rescued
(DBN)

Nurse practitioner dubbed "Rock Doc" convicted of illegally prescribing opioids
(DBN)

Lori Vallow trial: 'Cult mum' accused of killing 'zombie kids' buried in pet cemetery Grandparents of Lori Vallow's slain son say cult mom 'not winning' triple murder trial
(DBN)

Florida man gets lengthy prison term for shooting himself
(DBN)

JPMorgan Bankers Joked About Epstein’s Reputation, USVI Says
(DBN)

Twin sisters accused of murdering 70-year-old father with garden shears
(DBN)

Fugitive former chief of staff to Maryland gov. dead after confrontation with FBI
(DBN)

______________

Judges:

Ninth Circuit Court of Appeals Appoints New Bankruptcy Judge for District of Nevada
(DBN)

As 2 appeals judges add Stanford Law to clerk boycott, 3L says moderates are too intimidated to speak out
(DBN)

Jackson dissent:  SCOTUS should have heard case of death-row inmate who didn’t get co-defendant’s confession SCOTUS denies death penalty case of man whose innocence is supported by co-defendant's confession
(DBN)

Dems Consider Going After Supreme Court's Money If They Don't Get An Actual Ethics Rule
(DBN)

Fifth Circuit Holds Judge Can Block Attorney From His Facebook Page
(DBN)

Who is Juan Merchan, the judge overseeing Trump’s arraignment He already rocked MAGA world — twice. Now he’s Trump’s judge.
(DBN)

______________

Wall Street:

Stock futures rise as Dow and S&P 500 look to extend 4-day winning streak
(DBN)

US stocks end mixed as energy sector rides surge in oil prices while tech stocks fall
(DBN)

Wall Street dealmaking activity dives in Q1
(DBN)

Sentiment Toward Stocks Hasn’t Been This Bad in Years, Bank of America Says
(DBN)

______________

Layoffs:

UBS may slash 36,000 jobs worldwide after Credit Suisse takeover
(DBN)

Twitter's revenue per employee cratered 60% before Elon Musk's buyout. It shows why he axed half the firm's workforce
(DBN)

McDonald’s closes corporate offices as it lays off hundreds of workers Why McDonald’s is laying off corporate workers in a solid economy
(DBN)

Walmart's Job Cuts To Affect 2,000 Positions In Its E-Commerce Warehouses: Report
(DBN)

Apple to Make Small Number of Job Cuts in Some Corporate Retail Teams
(DBN)

______________

Labor:

Starbucks union puts pressure on board members with butter sculpture, billboards
(DBN)

____________

E-Commerce:

Online bulk retailer Boxed to wind down retail ops
(DBN)

____________

Retailing:

Ousted Bed Bath & Beyond CEO Tritton sues over unpaid severance
(DBN)

____________

Economy:

Here's everything the Fed has done wrong in handling the economy and why its reputation is in tatters, according to Mohamed El-Erian El-Erian: The Fed's Credibility Problem
(DBN)

Fed’s Lisa Cook Says Inflation Is Easing but More Is Needed
(DBN)

The coming doom loop
(DBN)

Oil Price Jolt Compounds the Inflation Puzzle for Central Banks Fed’s Bullard Says It’s Unclear What Higher Oil Price Means for Rates
(DBN)

'Dr. Doom' Nouriel Roubini Warns of Looming Banking Crisis and Trilemma for Central Banks
(DBN)

Manufacturing comes off its high boil ISM® Manufacturing index Decreased to 46.3% in March
(DBN)

Billionaire investor Leon Cooperman rings the recession alarm and says commercial real estate is next in the crosshairs of global banking turmoil
(DBN)

A new survey shows young workers hate their jobs — and employers should be really worried
(DBN)

Google to cut down on employee laptops, services and staplers for ‘multi-year’ savings
(DBN)

A message for male CEOs on return to office from a Wall Street female leader
(DBN)

Tipping in the United States has gotten out of control, experts say. Here’s why
(DBN)

Would Life Be Better if You Worked Less? - WSJ
(DBN)

The Rise of the Greedconomy
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

Home prices suddenly jump after several months of declines Black Knight Mortgage Monitor: Home Prices Increased Slightly in February; Prices Up 1.9% YoY Home prices soar suddenly after several months of declines
(DBN)

Housing April 3rd Weekly Update: Inventory Decreased 0.8% Week-over-week
(DBN)

US house prices may tumble another 8% this year as homebuyers feel the squeeze, KPMG says
(DBN)

Construction Spending Decreased 0.1% in February
(DBN)

The Urban Exodus Narratives Are Wrong
(DBN)

Spiraling housing prices spark worry about Hawaii’s future
(DBN)

Manhattan real estate sales plunge 38%, but cash deals hit all-time record
(DBN)

Florida property insurance rates set to jump up to 60%
(DBN)

____________

Municipalities:

Oversight Board: PREPA bondholder requests 'unreasonable'
(DBN)

Judge seems skeptical of PREPA bondholders' request for appeal certification
(DBN)

Ron DeSantis orders Florida's inspector general to see if Disney execs were personally involved with making the loophole to thwart him How Disney Dodged Ron DeSantis and Kept Control of Its Florida Land - WSJ
(DBN)

____________

Oil/Gas:

Saudi Arabia-led oil cartel OPEC+ just slashed its crude output – and that's stoked inflation fears. Here's what you need to know. OPEC+ Wants to Make Oil Speculators Think Twice With Shock Cut White House Got ‘Heads Up’ On OPEC+ Cut, Downplays Saudi Rift Biden’s Limited Options to Respond to OPEC+’s Surprise Oil Cut OPEC+ Output Cut Set to Wipe Out This Quarter’s Oil Surplus
(DBN)

US Gasoline Prices Seen Rebounding to $4 a Gallon on OPEC+ Cut
(DBN)

Oil at $100 Is Possible This Quarter, Energy Aspects’ Sen Says Hello, high oil prices, my old friends
(DBN)

Texas Governor Sees Opening for Shale in OPEC’s Surprise Oil Cut Don’t Expect US Shale to Quickly Fill the Gap Left by OPEC+ Cut
(DBN)

Yellen Says OPEC+ Cut ‘Unconstructive’ as World Fights Inflation
(DBN)

____________

Crypto:

Ownership Issues in Crypto Cases
(DBN)

Missing an Opportunity: Cryptocurrency Exchanges and Their Customers Should Consider Using UCC Article 8
(DBN)

Bittrex Shuts Down US Operations As Regulators Crack Down On Crypto Startups
(DBN)

A $1 billion lawsuit is making matters worse for Binance
(DBN)

Plaintiffs Are Suing Elon For $258 Billion Dollars Over Meme Money. I'd Want This Case Thrown Out Too.
(DBN)

Shark Tank's Kevin O'Leary explains how he's betting on crypto in a post-FTX landscape - and why unregulated exchanges will get 'sued into oblivion'
(DBN)

____________

Healthcare:

Ohio Sues Express Scripts, Cigna, Prime Therapeutics, And Humana Calling PBMs ‘Modern Gangsters’
(DBN)

Inflation helped drive ACA premiums up 3.4%
(DBN)

‘I Felt Bullied’: Mother of Child Treated at Transgender Center Speaks Out
(DBN)

____________

Coal:

Glencore’s Bid for Teck Shows It’s Willing to Abandon Coal
(DBN)

____________

Religion:

Scientologists to rule on abuse claims against their church, judge says
(DBN)

____________

Banking:

Unofficial Problem Bank list Decreased to 46 Institutions
(DBN)

Credit Suisse Faced Bankruptcy Without UBS Deal, SNB’s Schlegel Says ‘I am truly sorry’: Credit Suisse chair pleads with angry shareholders at annual meeting Credit Suisse chairman admits failure, anger to shareholders 'It was too late': Credit Suisse chair Lehman apologises for bank failure
(DBN)

March’s bank failures show options can be tricky even when traders pick winners
(DBN)

FDIC Plans to Offer $60 Billion of Signature Loans in the Coming Months
(DBN)

Regulators Really Have Given Up Trying To Teach Wells Fargo A Lesson
(DBN)

'SVB's failure could and should have been prevented': Experts argue for better regulation and supervision by the Fed
(DBN)

____________

Fraud:

Prosecutors urge no bail for Chinese man in $1B fraud case
(DBN)

____________

Accounting:

EY fined over audits of failed German payments firm Wirecard
(DBN)

____________

Movie Theaters:

Cineworld issues update over future of its UK cinemas after filing for bankruptcy
(DBN)

Bosses at debt-riddled Cineworld set to be ousted after rescue deal
(DBN)

____________

Cosmetics:

Revlon cleared to exit bankruptcy with $2.7 bln debt reduction deal Revlon to leave bankruptcy without longtime owner Ron Perelman
(DBN)

____________

Lehman:

Insurer Defeats Lehman Brothers Foreign Unit’s Attempt to Recover Alleged $485 Million Loss
(DBN)

____________

Warehouses:

The US Warehouse Capital Boomed During the Pandemic. Now It's Facing a Slowdown
(DBN)

____________

New Bankruptcy Opinions
(2 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (35 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (5 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:

Bankruptcy Filings Increase Across All Chapters in March; Commercial Filings Up 79 Percent Year-over-year
(DBN)

______________

Interest:

U.S. District Court in Connecticut Navigates Supreme Court Precedent Barring Recovery of Certain Postpetition Default Interest
(DBN)

____________

Mass Torts:

Boy Scouts Bankruptcy Plan Headed to Federal Appeals Court
(DBN)

Long-bankrupt asbestos gasket company revived in search for insurance
(DBN)

After Johnson & Johnson loses again in bankruptcy case, it's game on for talc lawsuits
(DBN)

____________

Aviation:

Richard Branson's Virgin Orbit rocket firm files for bankruptcy Virgin Orbit files for Chapter 11 bankruptcy protection in the U.S. Virgin Orbit files for bankruptcy protection as it seeks a buyer
(DBN)

____________

Politics:

Disney CEO Bob Iger rips Ron DeSantis over ‘anti-Florida’ retaliation Iger Slams DeSantis For Being 'Anti-Business, Anti-Florida'
(DBN)

DeSantis Orders Investigation Into How He Was Outsmarted So Easily
(DBN)

Trump’s scandal-plagued ‘24 run is sparking Dem anxiety of a ‘16 redux
(DBN)

Trump, Trump, Trump -- US TV turns to old habits
(DBN)

‘60 Minutes’ Let Marjorie Taylor Greene Spout a Bunch of Transphobic BS on National TV Marjorie Taylor Greene’s ‘60 Minutes’ Segment Was a Lesson in How Legacy Media Fails Greene: Democrats are Pedophiles
(DBN)

Biden's shifting reelection announcement
(DBN)

GOP's 2024 Trump critics find new life with Manhattan indictment
(DBN)

Republicans grapple with their weakness among Generation Z voters
(DBN)

House GOP's Biden investigations sputter out of the gate
(DBN)

A Key Wisconsin Race Will Show Just How Important Abortion Is to Voters Abortion access at stake in Wisconsin Supreme Court race Wisconsin's record-shattering Supreme Court race barrels to an end
(DBN)

Dems dump 500 pages of DeSantis opposition research
(DBN)

North Dakota legislature fails to override veto of transgender pronoun bill Veto stands: Transgender pronouns OK in North Dakota schools
(DBN)

Tennessee lawmakers stripped of committees after joining gun violence protests Tennessee GOP members move to oust 3 Dems after gun protest Tennessee GOP file resolutions to expel three Democrats who led gun reform chants on House floor Tennessee GOP begins expulsion process for 3 Democrats, House session devolves into chaos
(DBN)

____________

History:

Trump's been indicted, but Ulysses S. Grant was the first president to be arrested
(DBN)

Trump is first ex-president to be indicted. But he's not the first to run indicted, or convicted
(DBN)

____________

Tech:

After layoffs, tech stocks boom
(DBN)

In generative AI legal Wild West, the courtroom battles are just getting started
(DBN)

At Elon Musk's Twitter, speech is anything but free Twitter’s wild ride under Elon Musk — 1 year later Twitter appears to limit visibility of tweets containing words like 'trans,' 'gay,' and 'queer' sent over DM The ridiculous but important Twitter check mark fiasco keeps getting worse
(DBN)

Don't expect ChatGPT to transform the US economy in the next decade, Nobel laureate Paul Krugman says
(DBN)

A $200 Russian smartphone aiming to replace the iPhone isn't getting much love — fewer than 1,000 units have been sold since its debut
(DBN)

____________

Autos:

Vehicles Sales at 14.82 million SAAR in March; Up 9.3% YoY
(DBN)

Tesla shares fall after deliveries report raises concern of more price cuts Tesla falls 7% as first quarter deliveries show growing inventory buildup and analysts say that more price cuts may be needed
(DBN)

General Motors’ U.S. sales jump 18% in the first quarter
(DBN)

Worst time to buy car in decades
(DBN)

Tesla Jury Awards $3.2 Million to Ex-Worker Over Factory Racism
(DBN)

____________

Climate:

What we know about how climate change affects tornado outbreaks Tornadoes touching down in new areas; season is starting sooner and lasting longer, experts say
(DBN)

More severe weather forecast for battered South, Midwest
(DBN)

California's Biggest Snowpack in 70 Years Brings Threat of Floods
(DBN)

____________

Maritime:

Shock OPEC+ Output Cuts to Hit Demand and Rates for Oil Tankers
(DBN)

____________

Education:

Community colleges are reeling. ‘The reckoning is here.’
(DBN)

As Book Bans Gain Favor, Some Say Libraries Could Go
(DBN)

Texas judge orders banned books returned to library shelves
(DBN)

____________

UK:

Former Trader Offers UK Retail Buyers a Way Into Distressed Debt
(DBN)

____________

EU:

ECB Half-Point Hike ‘Still on Cards’ for May, Holzmann Says
(DBN)

____________

Canada:

Business Outlook Turns Negative in Canada Amid Higher Rates
(DBN)

____________

Russia:

Russia is confiscating passports from its elites, fearing they will defect over its invasion of Ukraine, report says
(DBN)

Ukraine mocks Russian claim to have taken Bakhmut, says attacks repelled
(DBN)

Finland to join NATO on Tuesday. What will it take for Sweden to follow?
(DBN)

____________

China:

Evergrande Signs Restructuring Agreement With Major Creditors
(DBN)

Chinese spy balloon gathered intelligence from sensitive U.S. military sites, despite U.S. efforts to block it
(DBN)

____________

Mexico:

GOP's war on the cartels
(DBN)

____________

India:

The Rise of “Consolidated Insolvency” in Real Estate Sector
(DBN)

____________

France:

Paris Garbage Workers to Resume Strike April 13 Over Pension Reform
(DBN)

____________


The Daily Bankruptcy News is primarily a curated news link gathering service.   Most of the headlines contained in the publication are a collection of links to stories posted on the Internet by various third party publications.  Such content is owned by third party sources, not The Daily Bankruptcy News, and in some cases, these links change or expire, which means you may not be able to view some news stories in prior editions of the Daily Bankruptcy News. The DBN subscription fee is not a fee for access to the content of the links, but is a charge for the considerable work involved in gathering, organizing and presenting the links. Use of this site and The Daily Bankruptcy News is subject to our Terms of Use. If you received The Daily Bankruptcy News via email (and you have a paid subscription account), to view a news story, click on the headline, and the story should open in your web browser. To view additional stories, click back to the email and click on additional headlines, which will cause new stories to open in your web browser.  You can view the most recent edition of The Daily Bankruptcy News on the web at BKInformation.com.

Advertising
Advertising is available in The Daily Bankruptcy News. Click here for details  Feel free to contact us with any questions.

Passwords/Subscriptions
Access to certain links in The Daily Bankruptcy News is available only to readers holding a paid service subscription. These links are currently marked with a "DBN" notation. The cost of a subscription is $69.00/year, payable annually.  Volume discounts are available for sites with multiple users. Click here to see a schedule of discounts. Complimentary subscriptions are available for full-time educational and governmental employees and for full time students. For information about discounts or educational/governmental subscriptions, contact us by clicking here. A separate password is required for each member of a firm wishing access to restricted links.

New readers can receive a free password good for 30 days by clicking here. 30-day passwords are not available to readers who have previously had a password, even if the password was associated with a different email address used by the reader. Refunds are not available after purchase.

Readers who wish to change their passwords should click here. Readers who have forgotten their password should click here.

Adding Your Email Address To The Distribution List
If you would like to start receiving The Daily Bankruptcy News by email each day, click here, and fill in the information requested. There is no charge to be placed on the distribution list to receive the headlines, although access to many of the links behind the headlines requires a paid subscription (see above, under Passwords). If, after adding your email address to the distribution list, you do not receive an email confirming the addition, please contact us by clicking here for help.

Removing Your Email Address From The Distribution List
If you already receive The Daily Bankruptcy News by email and you wish to remove your email address from the distribution list, click here and send the email that should appear. You do not need to type anything in the body of the email message. Note that the email asking for removal must be sent from the same email address which is on our distribution list. If you do not receive an email confirming deletion of your email address from the distribution list, contact us by clicking here for help.

If receive the publication forwarded from an older email address, you will need to contact us as described below for help removing that older address from our distribution list.

Press Releases/News Tips
Please send press releases and news tips to admin@bkinformation.com

Contact Us
The Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C. You can reach us at 281-402-3957 or at accounting@bkinformation.com (email inquiries are usually answered substantially more quickly than phone inquiries). Our mailing address is 935 Eldridge Road, No. 350, Sugar Land, Texas 77478.

Copyright 2023