February 16, 2023

The Daily Bankruptcy News

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Law:

The Sinking Profitability Of Biglaw
(DBN)

Lawyers Can Officially Kiss Those Giant Signing Bonuses Goodbye
(DBN)

The Most Successful Biglaw Firms On Earth, According To ChatGPT (2023)
(DBN)

ChatGPT Is Scarily Good At Answering Legal Questions
(DBN)

40 Percent Of Law Firms Haven't Raised Rates... It's Probably Time
(DBN)

‘Unmanageable caseloads’ top source of stress among lawyers
(DBN)

Big Law Balks at Litigation Finance Deals Seen as Too Pricey
(DBN)

Lawyer moved into Wynn Las Vegas, spent over $10M in ‘massive fraud,’ suit alleges Lawyer Accused Of $10 Million Scam That She Allegedly Spent Gambling In Vegas
(DBN)

Elon Musk Rights 'Error' Of Hiring Competent Biglaw Firm
(DBN)

Law School Is The Most Expensive Way To Figure Out What You Want To Do With Your Life
(DBN)

You Aren't As Alone As You Think You Are: Stevin George Has Great Advice For Aspiring First Gen Lawyers
(DBN)

The ABA's Bold Stance Against Losers (Of The Civil War)
(DBN)

Murdaugh's sister-in-law saw odd behavior after killings
(DBN)

1 killed, 3 hurt in shooting at El Paso, Texas shopping mall
(DBN)

Judge Torches Trump’s Lawyers in New Ruling Trump DNA Offer in Rape Accuser’s Battery Suit Rejected by Judge
(DBN)

Prosecutors Sent Trump A Special Valentine's Motion To Pierce Attorney-Client Privilege Under The Crime-Fraud Exception
(DBN)

Alex Jones Bankruptcy Filing Lists Jan. 6 Participants’ Guns
(DBN)

The Long Descent to Insurrection
(DBN)

Trump, after reported subpoena, defends keeping classified folders
(DBN)

Fox News loses appeal of Smartmatic defamation suit, claims against Rudy Giuliani and Jeanine Pirro revived
(DBN)

Two Lawyers Have $3 Billion and Careers at Stake in a UK Trial
(DBN)

The Powerful City Lawyer at The Center of a Private Equity Storm
(DBN)

Gabby Petito's family attorney wants the letter he says Brian Laundrie's mom wrote him offering to bury a body, with inscription 'burn after reading'
(DBN)

Judge slaps $335K penalty on Ronaldo accuser's Vegas lawyer
(DBN)

Judge vacates conviction of man imprisoned nearly 3 decades
(DBN)

Explosive details of Jeffrey Epstein-related lawsuit against JPMorgan unsealed, revealing 'Snow White' messages with former top exec Jeffrey Epstein's 'Doe' docket: Law&Crime breaks down more than 150 alleged victims, perps and witnesses in unsealing fight
(DBN)

Abortion foes to get National Archives tour, apology after suit over clothing ban
(DBN)

DOJ won't charge Gaetz in sex trafficking probe, his lawyers say
(DBN)

Buffalo mass shooter formally sentenced to life in prison without parole
(DBN)

Adams Begs State to Help Pay NYC’s $4.2 Billion in Migrant Costs DeSantis signs bill into law to expand a controversial program that would ship migrants to 'sanctuary cities'
(DBN)

West Virginia man allegedly confesses to 1985 cold case slaying of boy over bicycle
(DBN)

Ex-Beyond Meat COO pleads guilty to felony after taking a bite out of stranger's nose in 'uncontrollable rage' following football game
(DBN)

British authorities surveilled FBI spy chief Charles McGonigal’s secret 2018 meeting with a Russian contact
(DBN)

Heat-of-passion defense no longer available in slayings after infidelity disclosure, top state court says
(DBN)

Why Is Affirmative Action in Peril? One Man’s Decision.
(DBN)

A New Goal for Abortion Bills: Punish or Protect Doctors
(DBN)

Feds Buy Way Around the Fourth Amendment
(DBN)

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Judges:

Why Erie owes a debt of gratitude to newly retired bankruptcy judge
(DBN)

As Biden obtains confirmation of 100th federal judge, focus turns to red state vacancies
(DBN)

Want to be a Supreme Court clerk? It helps to graduate from these law schools and colleges
(DBN)

Chaos at Buffalo mass shooter's sentencing as man tries to attack him in court
(DBN)

Let’s Stop Pretending Clarence Thomas Can Read the Framers’ Minds
(DBN)

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Awards:

BK KS: Seeking Nominations for Judge Julie A. Robinson Award
(DBN)

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Wall Street:

Stock futures are flat Thursday as traders digest earnings, latest data
(DBN)

A $6 Trillion Bond Wall Revives an Arcane Corner of Wall Street
(DBN)

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Layoffs:

Hundreds of Google Staff in Zurich Stage Walkout Over Job Cuts
(DBN)

KPMG, announcing 700 layoffs, becomes first Big Four accounting firm to cut staff in U.S.
(DBN)

DigitalOcean waves goodbye to 11 percent of staff
(DBN)

Wix cuts another 370 jobs
(DBN)

Grifols to lay off 2,300, 8.5% of workforce
(DBN)

US Profits Just Peaked. That Usually Means Layoffs Are Coming
(DBN)

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Banking:

Deutsche Bank to Cut Bonuses of Staff Misusing WhatsApp Messaging
(DBN)

Credit Suisse Pays Double to Lure Investors to Its Bond Offering Credit Suisse Exits Distressed-Debt Trading as Bank Cuts Risk
(DBN)

ECB to Scrutinize Banker Bonuses That Don’t Take Account of Risk
(DBN)

Barclays Profit Drops 8% to £1.3 Billion as Fixed Income Traders Fall Short
(DBN)

Barclays Docked Bonus Pool By £500 Million Over Control Issues
(DBN)

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Retailing:

How Bed Bath & Beyond Avoided Bankruptcy
(WSJ)

Retail Sales Increased 3.0% in January
(DBN)

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Sports:

A Missed $140 Million Payment Sends Sports TV Negotiations Into Overdrive Missing A Debt Payment, Diamond Sports Is On The Verge Of Bankruptcy; Upending Local Sports Revenue Model Regional sports network owner Diamond Sports prepares for possible bankruptcy Rob Manfred says MLB will handle team broadcasts if Bally Sports networks miss payments MLB commissioner outlines future for Bally Sports deals amid bankruptcy speculation
(DBN)

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Rail:

Ohio Train Derailment Could Bring Cancer Risk, Millions in Damage Rural Ohio is facing comparisons to Chernobyl after a massive chemical leak caused by a train derailment. Here's what the disaster really has in common with the nuclear accident Buttigieg draws bipartisan barbs in Ohio train derailment aftermath
(DBN)

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Gambling:

How the Supreme Court turned America into a casino
(DBN)

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Labor:

An Ohio restaurant 'forced' servers to work 60 hours a week for just $10 in wages plus tips, the Department of Labor says
(DBN)

Tesla Just Terminated Dozens in Response to New Union Campaign, Complaint Alleges
(DBN)

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Economy:

Half of US Job Switchers Beat Inflation With Wage Bump in 2022
(DBN)

U.S. on Track to Add $19 Trillion in New Debt Over 10 Years
(DBN)

Blackstone’s Gray Predicts Extended Period of Elevated Rates
(DBN)

Deficit set to hit $1.4 T this year amid persistent inflation, federal experts say
(DBN)

U.S. projected to default on debt between July and September, CBO says Treasury Risks July Payment Default If Lawmakers Fail to Raise Debt Limit, CBO Says
(DBN)

Republicans’ Balanced-Budget Aim Clashes With Fiscal Realities
(DBN)

Biden-McCarthy Budget Challenge Gets Worse on New CBO Estimates
(DBN)

US Retail Sales Jump by Most in Nearly Two Years in Broad Gain
(DBN)

Bird Flu Sent Egg Prices Soaring. Now the Threat Moves to Chicken
(DBN)

New York State Manufacturing Activity Shrinks Less Than Forecast
(DBN)

Industrial Production Unchanged in January
(DBN)

Worker Burnout Is Even Worse Than at the Peak of the Pandemic
(DBN)

EU Sanctions Seek to Make Banks Divulge Frozen Russian Assets Swiss Say Confiscating Russian Assets Would Undermine Law Billionaire Deripaska Challenges Scope of EU Sanctions on Russia Europe is now stuck with a huge stockpile of natural gas after hoarding it last year for a brutal winter that never came Western Trade With Russia’s Neighbors May Show Dodged Sanctions, EBRD Says
(DBN)

The fight over ending COVID food benefits
(DBN)

America turns against immigration
(DBN)

Charted: The Global Decline in Consumer Confidence
(DBN)

World Bank President David Malpass announces early resignation Biden set to pounce on much-wanted surprise at World Bank
(DBN)

Tesla Workers Tracked by Every Keystroke
(DBN)

NYC mayor, in turnaround, will consider remote work for city employees
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

NAHB: Builder Confidence Increased in February Homebuilder sentiment in February improved by the biggest amount in a decade
(DBN)

US Mortgage Rates Post Biggest Weekly Advance Since October
(DBN)

Congress Could Have Prevented 500,000 Foreclosures During The Great Recession But Chickened Out
(DBN)

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Municipalities:

Critics say board's PREPA position undermines revenue bonds
(DBN)

Monster-sized budget surpluses allow new governors to dream big
(DBN)

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Oil/Gas:

New Jersey governor to set leading clean power target and follow California ban on gas-powered cars
(DBN)

Tesla opening up its chargers could spur electric car adoption
(DBN)

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Tech:

Only 9% of Americans think A.I. development will do more good than harm
(DBN)

Elon Musk asked engineers to boost his tweets after Joe Biden's Super Bowl post got more engagement than his, report says
(DBN)

Tech CEO Salary Cuts Aren’t Always the Sacrifice They Seem
(DBN)

DOJ reportedly accelerates Apple antitrust investigation
(DBN)

Britain Wargames a Crash Far Worse Than Covid If Chip Supplies Are Shut Off
(DBN)

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Crypto:

FTX Judge Declines to Tap Bankruptcy Examiner to Probe Collapse Judge denies FTX bankruptcy an independent examiner, citing cost FTX customers sue financiers for giving it ‘air of legitimacy’ Sam Bankman-Fried’s Mystery Bail Co-Signers Bankman-Fried Bail Guarantors Are Stanford Faculty Members Latest FTX lawsuit casts investors Sequoia, Thoma Bravo as co-conspirators FTX is trying to get back $400 million sitting in a JPMorgan account that Sam Bankman-Fried had previously invested in an obscure hedge fund: report FTX Transferred $7.7B From Bahamian Estate to US Units Ahead of Bankruptcy Filing, Court Told Can you trust crypto exchanges after the collapse of FTX?
(DBN)

US Regulatory Curbs Spark $900 Million Slump in Binance-Branded Stablecoin BUSD
(DBN)

Bankrupt Voyager Sends 250 Billion Shiba Inu To Coinbase, Whats Up?
(DBN)

Zipmex says it may resume 100% of Z wallet withdrawals subject to conditions
(DBN)

Celsius Reaches Acquisition Agreement with Digital Management Agency to Exit Bankruptcy
(DBN)

SEC Chairman Proposes Amending Federal Custody Rules to Cover 'All Crypto Assets' SEC Proposal Could Bar Investment Advisers From Keeping Assets at Crypto Firms
(DBN)

Coinbase, Anchorage Digital Say They'd Be OK Under SEC Custody Proposal, But Risks May Lurk for Others
(DBN)

Binance Bracing Itself for Fines From US Regulators to Settle ‘Past Conduct’
(DBN)

Bitcoin surges 11% despite U.S. crackdown, as crypto market gains $84 billion in value
(DBN)

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Politics:

The rise of the Trump-Russia revisionists
(DBN)

Biden Is Considering Public Address on Balloon Before Poland Trip Lawmakers seize on spy balloon to inflate defense spending
(DBN)

DeSantis Wants to Be the GOP’s Most Gun-Friendly Candidate. It Could Cost Him in 2024
(DBN)

Haley enters the fray, knowing Trump’s history mocking women Nikki Haley calls for competency tests for politicians over 75 The Real Reason Nikki Haley May Struggle to Break Through
(DBN)

FEC tells George Santos to name campaign treasurer or face ban on fundraising The time George Santos tried to raise crazy money to host a simple rally for Trump George Santos Gets Warning to Tell Truth About His Campaign Finances George Santos Raked In Cash for a Recount That Never Happened
(DBN)

McConnell vs. Scott: The Senate beef that won't die Club for Growth endorses Scott and dings McConnell
(DBN)

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Climate:

France tears down beach apartment block as rising sea bites
(DBN)

Rising seas threaten ‘mass exodus on a biblical scale’, UN chief warns
(DBN)

Study: Don’t blame climate change for South American drought
(DBN)

Thwaites Glacier findings reveal clues about Antarctic ice melt
(DBN)

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Pharma:

The administration's next crack at lower drug prices
(DBN)

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Education:

Most Americans think college admissions should not consider race -Reuters/Ipsos poll
(DBN)

Ron DeSantis’s war on “woke” in Florida schools, explained
(DBN)

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Ride Hailing:

Uber-Lyft Fares Skyrocketed, Drivers Pay Didn't
(DBN)

___________

Celebs:

Elon Musk Nears World’s Richest Title Again
(DBN)

Brett Favre's lawyer says Pat McAfee could go 'bankrupt,' will 'learn his lesson' after defamation lawsuit
(DBN)

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New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (19 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)

Miscellaneous:

Compilation of Recent Developments in Bankruptcy Law
(DBN)

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Mass Torts:

Bankruptcy court approves Harrisburg Diocese restitution plan US bankruptcy court approves Roman Catholic Diocese of Harrisburg's reorganization plan Settlement approved in Diocese of Harrisburg bankruptcy case
(DBN)

J&J Must Face Baby Powder Suit by 24-Year-Old Dying of Cancer
(DBN)

Johnson & Johnson urges Third Circuit to reconsider talc bankruptcy ruling
(DBN)

____________

Backstops:

The Backstop Rights Offerings: Securing Capital During Your Restructuring Process
(DBN)

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Aviation:

British Carrier Flybe to Be Wound Down as Sale Talks Fail Flybe: Administrators unable to find buyer after collapse
(DBN)

Airlines had excellent on-time performance last fall — then winter struck
(DBN)

Lufthansa Says IT System Issues Causing Widespread Cancellations
(DBN)

Lacking lifeline, Mexican carrier Aeromar shutters
(DBN)

____________

Venture Capital:

Rise of ‘zombie’ VCs haunts tech investors as plunging valuations hammer the industry
(DBN)

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Healthcare:

More than a dozen of Alabama's 51 rural hospitals at immediate risk of closing
(DBN)

Medicare politics are on a crash course with reality
(DBN)

Health industry could be playing defense on Medicare
(DBN)

____________

Student Debt:

Biden administration making big change to student loan repayment
(DBN)

More than half of student borrowers say their financial stability hinges on debt relief
(DBN)

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Cannabis:

After the Green Rush: Bankruptcy Alternatives for Restructuring Cannabis Businesses
(DBN)

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Lehman:

High Court Rules that ISDA Bankruptcy-Related Events of Default Can Be Cured in Lehman Case
(DBN)

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Movie Theaters:

AMC Networks names a new CEO: Kristin Dolan, spouse of chairman James Dolan
(DBN)

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Autos:

Charlie Munger says BYD is so far ahead of Tesla in China ‘it’s almost ridiculous’
(DBN)

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Sovereigns:

Pakistan Takes Key Step on Taxes to Get IMF Loan, Avoid Default
(DBN)

Sri Lanka hikes power prices by 66% hoping to gain IMF support
(DBN)

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UK:

Company insolvencies jump 7% year-on-year in January
(DBN)

Britain’s Easing Inflation Puts End of BOE Rate Hikes In Sight
(DBN)

A ‘cocktail’ of sticky inflation and a tight labor market boosts Bank of England rate hike bets
(DBN)

Official Statistics Confirm UK House Prices are Falling
(DBN)

London Hedge Fund Makes $150 Million on Bust Norwegian Papermaker
(DBN)

UK Parents Set to Feel Even More Pain From Child Care Costs
(DBN)

UK backs down in legal battle over EU residents’ rights
(DBN)

A Quarter of London Companies Downsize Offices for Flexible Work
(DBN)

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EU:

ECB’s Lagarde Reaffirms Intention for Half-Point March Hike
(DBN)

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Canada:

Home Price Drop Hits 15% in Canada as High Rates Squeeze Buyers
(DBN)

Rents are soaring in Canada as surge of people goes undercounted
(DBN)

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Russia:

Ukraine to Receive Fewer Battle Tanks From Allies Than Promised
(DBN)

Putin, secure in power, sets stage for long and draining war
(DBN)

Turkey Has Right to Decide on Finland, Sweden Bids, NATO Says
(DBN)

Top US diplomat warns that if Ukraine gives up territory to Russia in exchange for peace it will 'open a Pandora's box around the world'
(DBN)

Russia’s private military force, explained
(DBN)

Dutch F-35s intercept three Russian military aircraft near Poland
(DBN)

____________

Turkey:

Earthquake’s toll hits 40,000, and still rising Turkey Marathon TV Show Raises $6 Billion for Earthquake Victims
(DBN)

____________

China:

The property market is so bad in China that some banks are letting people be on mortgages till they are 80
(DBN)

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MENA:

U.S. weighs further steps against Israel's settlement expansion
(DBN)

Exposed: The Israeli Team Meddling in Worldwide Elections
(DBN)

Reversing the ‘Constitutional Revolution’: The Israeli Government’s Plan to Undermine the Supreme Court’s Judicial Review of Legislation
(DBN)

____________

India:

Adani’s fall reignites scrutiny of billionaire’s close ties with Modi Adani Credit Flashes Warnings After Group Gorged on Cheap Debt
(DBN)


____________

Sweden:

Gloomier Outlook Sets Sweden Single Homes Apart as Rout Persists
(DBN)

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Brazil:

Brazil Credit Crunch Is Brewing as Americanas Fallout Grows
(DBN)

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