February 10, 2023

The Daily Bankruptcy News

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Law:

Now That Goodwin Has 'Ripped The Band-Aid Off' On Layoffs, Will More Follow Down The Line?
(DBN)

Top 50 Biglaw Firm Ups Their Billable Hours Requirement, Sparking Ire Among Associates
(DBN)

Proskauer Rose top brass fly in to grill ‘bullying’ London partner
(DBN)

Simpson Thacher forgives lawyer who tried to fight colleague
(DBN)

On The Need For Diverse Viewpoints In Biglaw
(DBN)

Cybersecurity Incident Shuts Down Biglaw Network
(DBN)

Life as a lawyer in a countercyclical practice area
(DBN)

Savills Legal Tenant 2023 Benchmarking Report
(DBN)

Breaking up is hard to do, Greenberg Traurig learns after finally succeeding in dropping rapper Ye
(DBN)

Making Lawyers File Suspicious Activity Reports Would Lead To More Suspicious Activity, End Of Rule Of Law And Civilization Generally, Lawyers Say
(DBN)

Sacked law firm boss used n-word in front of black partner
(DBN)

The Role Of In-House Counsel In ESG
(DBN)

UK: Twice as many women as men apply to study law
(DBN)

Shearman & Sterling's London M&A head quits for Sidley as international partner departures mount
(DBN)

Goodwin Procter averaged gain or loss of 1 lateral associate each day since 2020
(DBN)

Price of Super Bowl ads is on ‘eerily similar trajectory’ to profits per partner at Kirkland
(DBN)

Law school named in honor of Black attorney in what may be second time in history
(DBN)

Autopsy finds Calif. lawyer was 'murdered' in Mexico after run-in with local cops revealed
(DBN)

Alex Murdaugh’s Best Friend Slams Him on the Stand: I Was ‘Betrayed’ Alex Murdaugh claimed he was broke and couldn’t pay $10 million lawsuit, lawyer testifies
(DBN)

Did One Grumpy Lawyer Just Screw Up Trump’s Prosecution?
(DBN)

The Proud Boys Jurors: Who Are They and Can They Be Fair? Proud Boys sedition trial shows group keying off Trump comments Man who carried a Confederate flag in the Capitol on Jan. 6 is sentenced to 3 years Pence subpoenaed by special counsel investigating Trump's role in Jan. 6 Another North Texas Man Arrested for Violent Role in Jan. 6 Capitol Riot
(DBN)

When elite cops go rogue: So-called "elite" anti-crime units like the one that killed Tyre Nichols have a nationwide legacy of killings, kidnappings, abuse, and corruption. So why do cities keep using them? Memphis DA to review all cases previously handled by the five officers charged in Tyre Nichols' death
(DBN)

Texas sues Biden administration for asking pharmacies to fill reproductive health prescriptions
(DBN)

Judges Denied a 14-Year-Old’s Request for an Abortion. Twice. Dem governors pledge to protect abortion as neighbors add restrictions Federal Judge Thinking Outside The Box On Abortion Rights 40 million would lose abortion access if court blocks pill, study shows
(DBN)

Originalism Is Going to Get Women Killed
(DBN)

Missouri lawmakers vote against banning children from carrying guns in public
(DBN)

Pennsylvania cold cases under review for possible links to Bryan Kohberger
(DBN)

Family of tragic 'Rust' cinematographer filing new lawsuit against Alec Baldwin in fatal shooting Alec Baldwin never apologized to Halyna Hutchins parents, sibling for 'Rust' shooting: Lawyer
(DBN)

New details released about a New Jersey council member shot dead in a car – the 2nd such case in about a week
(DBN)

Bloodthirsty leopard mauls lawyers inside a courthouse
(DBN)

American stockbroker who left his family to 'wage violent jihad' for ISIS in Syria convicted of training terrorist snipers
(DBN)

Lori Vallow and Chad Daybell appear in court as defense and prosecutors signal intent to argue about religion during triple murder trial
(DBN)

Man who allegedly admits beheading mother of his child in middle of street with samurai sword now claims self-defense
(DBN)

Assault Charge For Woman In Poultry Pummel
(DBN)

Boy in stolen car is killed in shootout after owner uses an app to track down his vehicle, Denver police say
(DBN)

NewsNation reporter faces charges after arrest at Ohio governor's press conference
(DBN)

Jury Sides With Trucker Over “Moron” San Bernardino Cops in Wrongful Arrest Case
(DBN)

Nicaragua frees hundreds of political prisoners, sends them to US
(DBN)

More migrants cross the northern border into the U.S. as Mexicans fly to Canada and then head south
(DBN)

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Judges:

Calls grow for stronger ethics rules for Supreme Court justices, families
(DBN)

Is the Supreme Court Out of Step with Public Opinion?
(DBN)

The Road To A Supreme Court Clerkship Starts At Three Ivy League Colleges; 'You Can’t Scrub Your Undergraduate Degree With An Elite Law Degree'
(DBN)

Price Setting From The Bench? University Of North Texas Still In Legal Battle Over How It Can Set Its Tuition
(DBN)

'They forgot to wear their hoods.' Mississippi mayor says new law would create 'colonized' court system in district
(DBN)

African American Judges Offer Life Lessons
(DBN)

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Wall Street:

Stock futures fall as the S&P 500 heads for worst week in nearly 2 months
(DBN)

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Layoffs:

Constellation-Backed Pot Firm Canopy Cuts 60% of Jobs as Cash Burns
(DBN)

Deliveroo Plans to Cut 9% of Staff to Cope With Slowing Growth
(DBN)

A millennial who got laid off from her dream job says she doesn't feel betrayed: 'The company has already moved forward and you need to do so too'
(DBN)

NBC and MSNBC Staffers Walk Off the Job to Protest Layoffs
(DBN)

Truist cuts dozens in investment banking: report
(DBN)

Murdoch’s News Corp to Cut 5% of Staff After Earnings Plunge
(DBN)

GitHub is laying off 10%
(DBN)

Micron is looking to cut its workforce by 10%
(DBN)

Microsoft Cuts Jobs in HoloLens, Surface, Xbox as Layoffs Continue
(DBN)

Ranked: America’s 20 Biggest Tech Layoffs Since 2020
(DBN)

Inequality in decline? Tech jobs fade, waitstaff jobs boom.
(DBN)

Yahoo to lay off more than 20% of staff as it shrinks ad biz
(DBN)

Apple Avoids Job Cuts Because It Didn’t Overhire Like Google and Amazon
(DBN)

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Banking:

Credit Suisse Trading Revenue Collapses as Global Ambitions End Credit Suisse Offers Glimpse of Good News With Deal Gain, Job Cuts
(DBN)

Wells Fargo to pay $300M to settle auto-loan class action
(DBN)

____________

Food/Beverage:

Spread of Bird Flu Worsens, Hitting Egg-Laying Hens Especially Hard Tracking the bird flu, experts see a familiar threat — and a virus whose course is hard to predict A leading bird flu expert says this 'nasty' outbreak is here to stay: 'There's something different about this virus'
(DBN)

Restaurant Performance Index increased 0.7% in December
(DBN)

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Hotels:

Hotels: Occupancy Rate Down 7.3% Compared to Same Week in 2019
(DBN)

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Politics:

Republicans Are Going After the Biden Administration. Now White House Is Fighting Back
(DBN)

The Conspiracy Congress
(DBN)

The changing face of Congress in 8 charts
(DBN)

Trump closes gap, tied with DeSantis in new poll of GOP voters
(DBN)

GOP divided over whether heckling Biden hurts them
(DBN)

Donald Trump Could Lose Millions in Backing From Conservative Donors
(DBN)

The GOP Is Starting to Plot Against Donald Trump
(DBN)

House Democrats file resolution to expel George Santos Santos was charged with theft in 2017 case tied to Amish dog breeders
(DBN)

House Republicans request records from Hunter and James Biden Hunter Biden lawyers ask Trump allies to retain laptop records Hunter Biden attorney rejects House Oversight request for records
(DBN)

House GOP opens politicized-government probe with a Fox News-ready lineup
(DBN)

Romney to mull Republican 'slide toward authoritarianism' in biography Mitt Romney reveals hundreds of emails to book author
(DBN)

The QAnon Queen Is Telling Her Followers to Shoot Migrants
(DBN)

Rep. Angie Craig assaulted in DC apartment building
(DBN)

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Economy:

US Jobless Claims Pick Up for the First Time in Six Weeks Weekly Initial Unemployment Claims increase to 196,000
(DBN)

Are labor supply and labor demand out of balance?
(DBN)

Treasury Yield-Curve Inversion Reaches Deepest Level Since 1980s
(DBN)

Half of Americans have the financial blues
(DBN)

Babysitting rates surged nearly 10% last year
(DBN)

Economy Remains the Public’s Top Policy Priority; COVID-19 Concerns Decline Again
(DBN)

Americans Pessimistic About Inflation, Stock Market
(DBN)

Energy expenditures as a percentage of PCE
(DBN)

What Recession? Some Economists See Chances of a Growth Rebound.
(DBN)

Here are the spending cuts Republicans have pitched in debt limit talks
(DBN)

White House: Rick Scott ‘national poster-child’ for GOP attacks on Social Security and Medicare What Republicans have actually said about cuts to Social Security and Medicare
(DBN)

Barkin Says Fed Needs to ‘Stay The Course’ in Inflation Fight
(DBN)

Assets and liabilities on the Fed’s balance sheet
(DBN)

Unilever Says Price Increases Are Weighing on Consumer Demand Big Brands Keep Raising Prices, With Limited Shopper Resistance
(DBN)

Narrower profit margins could mean lower inflation
(DBN)

Fears of a US debt crisis are 'imaginary', and what the economy needs is more investment in critical infrastructure, economist says
(DBN)

The bond market's classic recession indicator is still flashing. But it's no longer worth worrying about, Goldman Sachs says
(DBN)

Putin waves a sarcastic goodbye to foreign business departing Russia EU to target disinformation and more exports in next Russia sanctions Russia Plans to Cut March Oil Output By 500,000 Barrels a Day, Novak Says Oil prices rise 2% after Russia says it will cut output by 500,000 barrels a day
(DBN)

Mapped: 2023 Inflation Forecasts by Country
(DBN)

Mapped: Geopolitical Risk by Economy
(DBN)

Where Real Wages Rose & Where They Stagnated
(DBN)

How the Wealthy Save Billions in Taxes by Skirting a Century-Old Law
(DBN)

Bosses want to pay you more but give you less
(DBN)

Inside Biden's big deficit-cutting plan
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

Mortgage Rates in the US Tick Up for First Time in Five Weeks
(DBN)

What are the most undervalued housing markets in the US in 2023?
(DBN)

Pain In The Office Property Market Isn't Over Yet
(DBN)

____________

Municipalities:

New debt plan proposes spike in Puerto Rico power bills
(DBN)

Boston appoints members to its new Reparations Task Force
(DBN)

____________

Oil/Gas:

U.S. EPA approves hazardous chemicals removal from St. Croix refinery
(DBN)

Exxon to merge some business units as part of cost-cutting plan
(DBN)

BNP, Barclays Among Banks in Crosshairs Over New Oil, Gas Loans
(DBN)

____________

Fraud:

Commodity Trader Trafigura Faces $577 Million Loss After Uncovering Nickel Fraud
(DBN)

Woman sentenced after fraudulently obtaining COVID-19 relief loan, using it for Trump resort trip and plastic surgery
(DBN)

____________

Tech:

Alphabet’s $100 Billion Stock Swoon Shows AI Stakes Are Rising
(DBN)

Meta restores Donald Trump's access to Facebook, Instagram
(DBN)

The walls are closing in on Google. Here's what it needs to do to survive.
(DBN)

Tesla Set to Double From January Low on Turbocharged Tech Rally Tesla is singlehandedly driving the highest retail investment into the stock market since 2020 as traders await Elon Musk’s master plan at the upcoming investor day Tesla Semi Skepticism Lingers Months After Musk’s First Delivery
(DBN)

Elon Musk reportedly fired a Twitter engineer on the spot after the worker told him his popularity was sinking on the site
(DBN)

Twitter outage sees users told they are over daily tweet limit
(DBN)

Twitter Draws EU Ire for Sending Incomplete Disinformation Report
(DBN)

TikTok Reveals Russian Disinformation Network Targeting European Users
(DBN)

Bard is going to destroy online search
(DBN)

____________

Television:

Disney is cutting 7,000 jobs in a cost-saving blitz as traditional TV faces an existential crisis
(DBN)

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Cannabis:

Growing Room for Bankruptcy in Ninth Circuit
(DBN)

Cannabis Ruling Offers Narrow Path to Bankruptcy Perks
(DBN)

____________

Climate:

Shell’s Board Sued by Institutional Investors Over Lack of Climate Ambition
(DBN)

The return of El Nino could see Earth overshoot 1.5-degree threshold in 2024
(DBN)

____________

Labor:

This School Is Charging Grad Students Thousands of Dollars for Going on Strike
(DBN)

____________

Sports:

N.F.L. Players Say They Were Shortchanged on Disability Benefits
(DBN)

____________

Crypto:

The FTX meltdown was so chaotic that Caroline Ellison was reportedly 'relieved' to step away from Alameda Sam Bankman-Fried Needs Tighter Bail Restrictions, Judge Says Bankman-Fried Judge Calls Bail Deal on App Use ‘Short-Sighted’ Judge holds accused crypto fraudster Sam Bankman-Fried's feet to fire on $250 million bond package FTX claimants bite into new crypto venture by founders of failed Three Arrows Capital How Sam Bankman-Fried's collapsed FTX built a network of star backers Fallen FTX founder won’t stop talking. It could cost him dearly Sam Bankman-Fried — who once said every book should be a '6-paragraph blog post' — says he's written over 1,000 pages about FTX's collapse while under house arrest
(DBN)

This publisher is trying to wipe 'all trace' of Mashinsky's book online, but it's hard
(DBN)

Three Arrows Capital Founders Launch Exchange Where You Can Trade 3AC Bankruptcy Claims 3AC new exchange triggers backlash from the crypto community — ‘No, thank you’
(DBN)

Kraken to Shut US Crypto-Staking Service, Pay $30M Fine in SEC Settlement
(DBN)

Bankrupt Crypto Lender BlockFi Takes Two-Thirds Loss to Settle Bitcoin Miner Bitfarms' Debt
(DBN)

Bankrupt Crypto Lender Celsius Seeks to Raise $14M From Bitmain Mining Vouchers
(DBN)

Without Genesis, the Future of Barry Silbert’s DCG Hinges on a Bitcoin Bounce
(DBN)

Celsius Faces ‘Looming Liquidity Cliff in June’, Says Creditors Committee
(DBN)

Cryptocurrencies Fall Amid Concern Over Regulatory Crackdown
(DBN)

Voyager Users Will Need Binance US Accounts to Get Their Money Back
(DBN)

____________

Retailing:

Breaking Bath
(DBN)

Hedge Fund Deal Slams Bed Bath Stock as Redditors Stay Away
(DBN)

Study: Inflation lower, customer satisfaction up
(DBN)

‘The music has stopped’: A look at venture capital in retail
(DBN)

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New Bankruptcy Opinions
(6 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Adversary Proceeding Filings (0 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 Strategy:

In re LTL Management, LLC: Third Circuit Holds Texas-Two-Step Bankruptcy Not Filed in Good Faith When Debtor is not in Financial Distress
(DBN)

____________

Bankruptcy Crimes:

Agoura Hills Real Estate Developer Agrees to Plead Guilty to Lying on Bankruptcy Petition and Filing False Federal Income Tax Returns
(DBN)

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Mass Torts:

Church abuse victims file $42 million suit against bankruptcy firm for publishing their names
(DBN)

Appeals arguments begin in Boy Scouts of America bankruptcy
(DBN)

____________

Constitution:

At U.S. Supreme Court: Can A Government Get Away With Cheating A Property Owner In Tax Foreclosure? (Tyler v. Hennepin County)
(DBN)

____________

Aviation:

Southwest Airlines exec to Senate: "We messed up" Southwest Airlines Faces Tough Questions From Senators Republicans oppose stricter airline rules after Southwest meltdown Southwest Air Executives Will Lose Pay After December Meltdown ‘Warnings were ignored, poor performance was condoned’: Inside Southwest’s Christmas chaos that saw 2 million passengers stranded Southwest exec vows IT fixes but rebuffs calls for cash hardship payments to fliers
(DBN)

____________

Education:

Nearly Half of US Public School Students Lag Behind, Report Says
(DBN)

Ohio Department of Education Says It Won't Do Anything About Neo-Nazi Homeschoolers
(DBN)

One in Five Black Students Report Discrimination Experiences
(DBN)

Frustrated Florida parents resolve to teach Black history to their kids
(DBN)

____________

Healthcare:

The high cost of diabetes drugs has led to a flourishing black market
(DBN)

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Festivals:

Philadelphia Folk Festival canceled for first time in its 60-year history
(DBN)

____________

Sovereigns:

IMF Seeks Pakistan’s Plan for Relief, Economic Solutions Pakistan teeters on bankruptcy as IMF bailout talks end without deal
(DBN)

Sri Lanka needs bilateral creditor assurances to unlock $2.9 billion bailout, IMF says
(DBN)

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UK:

BOE’s Bailey Concerned Over Risks That UK Inflation Remains Persistent
(DBN)

UK Avoids Recession by Narrowest Margin in Second Half of 2022
(DBN)

UK Paid £2.3 Billion to the EU to Settle China Import Fraud Case
(DBN)

BOE Warns UK Public Sector Pay Raises May Spur Further Inflation
(DBN)

UK Trade Deficit With EU Hits Record as Brexit Curtails Exports
(DBN)

____________

Canada:

An Encore: Annulling the Bankruptcy Proceedings
(DBN)

Major Vancouver condo developer seeks creditor protection Industry watching as financially troubled Vancouver developer seeks creditor protection Creditor protection sought by large Vancouver real estate developer over $700M debt Red Tape and Rising Rates Push Coromandel Properties to Seek Creditor Protection
(DBN)

____________

China:

China’s Banks Extend Record Loans as Companies Borrow More
(DBN)

IMF Growth Outlook For China Puts Xi’s Income Goal Out of Reach
(DBN)

China's Balloon Was Capable of Spying on Communications, US Says Everything we know about the China balloon U.S. briefed 40 nations on China spy balloon incident, diplomats and official say House unanimously approves resolution condemning China for spy balloon Romney defends Biden’s handling of Chinese balloon Senate Republicans demand more information on Chinese balloon from Biden administration China Balloon Had Parts Made in West, Lawmakers Told US officials say getting their hands on China's spy balloon was a 'key' reason for shooting it down near a South Carolina beach
(DBN)

____________

MENA:

No Respite for Cash-Strapped Egyptians as Inflation Nears 26%
(DBN)

Bipartisan bills would repeal authorization of Gulf, Iraq wars
(DBN)

____________

Mexico:

Mexico’s Inflation Accelerates, Keeping Pressure on Banxico
(DBN)

____________

Russia:

One Year Later, Americans Still Stand by Ukraine
(DBN)

Russia ‘massing 1,800 tanks, 700 aircraft & 500k men for new Ukraine assault in 10 days’ after Zelensky begs UK for jets Ukraine readies along all fronts Inside the small Ukrainian city that's become a symbol of national resistance — and a high-profile Russian target Russia Renews Strikes on Key Infrastructure Russian Missiles Crossed NATO Airspace Over Romania, Kyiv Says
(DBN)

Rheinmetall in Talks to Supply Ukraine With Panther Battle Tanks
(DBN)

Zelensky greeted with standing ovation, cheers at EU Parliament Zelenskyy seeks to place Ukraine at home in the EU
(DBN)

Russia Blames US for Nord Stream Blasts, Threatens Consequences
(DBN)

How a band of Ukraine civilians helped seal Russia's biggest defeat
(DBN)

Wagner Group stops recruiting prisoners as growing numbers refuse to be enlisted on suicide missions, reports say Putin Sidelines Wagner by Taking Over Ukraine War Recruitment in Prisons
(DBN)

Russia has lost at least 1,500 tanks since the start of the Ukraine war, more than half of its invasion force: report
(DBN)

Vladimir Putin is about to make shock gains
(DBN)

____________

India:

Imposition of an Interim Moratorium Prior to Corporate Insolvency Resolution Process
(DBN)

Non-payment of full provident fund and gratuity dues to employees, workers is violative of IBC: NCLAT
(DBN)

Adani Group Stocks Slide After MSCI Says Reviewing Free Float Norway Wealth Fund Unloads Rest of Its Adani Group Holding Tax Officials Inspect Adani Wilmar Facility as Scrutiny Mounts India's Adani faced margin call on $1.1 billion loan before repaying in full How Indian billionaire Gautam Adani lost half his fortune in a flash, triggering political fallout Adani Stock Rout Deepens as MSCI Cuts Free Float of Some Firms Moody’s Watching for Any Increase in Indian Lenders’ Adani Loans
(DBN)

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Turkey:

Turkey Risks Inflation Surge, Budget Breach as Quake Costs Mount Earthquake death toll in Turkey and Syria nears 20,000 Anger grows in Turkey as earthquake death toll passes 20,000 and rescue hopes dwindle Emotions run high in Turkey amid questions over state response to deadly quake WHO warns Turkey and Syria quake survivors face "secondary disaster" U.S. pushes for more U.N. aid corridors to Syria in wake of devastating earthquakes
(DBN)

____________

Denmark:

Denmark’s Biggest Pension Fund Lost Record $8.2 Billion as Bonds, Stocks Sank
(DBN)

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France:

French health authorities ‘turned blind eye’ to paedophile surgeon accused of sexually assaulting 300 children
(DBN)

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Germany:

Germany suggests return of conscription
(DBN)

____________

Mexico:

Mexico Stuns Markets With Half-Point Rate Hike on New Inflation Gain
(DBN)

State Department issues strongest possible 'do not travel' warning due to threats of 'crime and kidnapping'
(DBN)

____________

Australia:

A mixed bag for liquidators in High Court decisions on claims of unfair preference or other voidable transactions
(DBN)

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