February 7, 2023

The Daily Bankruptcy News

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Law:

This Biglaw Firm Has The Urge To Merge, But Can't Find A Willing Partner
(DBN)

Disbarred lawyer Girardi pleads not guilty to client thefts Frail Tom Girardi, 83, appears in court as judge orders mental competency hearing
(DBN)

After Months Of Doom & Gloom, Maybe Biglaw Firms Still Made Massive Profits In 2022
(DBN)

Paul Hastings Sees Profits Rise, Despite Tightening Market
(DBN)

Pachulski Stang Ziehl & Jones Elevates Steven Golden to Partner
(DBN)

Cole Schotz Adds Seasoned Corporate Bankruptcy Attorney Stacy Newman
(DBN)

ABA Votes to Keep Standardized Tests
(DBN)

ABA House adopts 3 guidelines to improve use of artificial intelligence
(DBN)

Baker McKenzie Investigating Racism Claims; Partner Steps Away From Leadership Role
(DBN)

Judge allows Alex Murdaugh's alleged financial crimes into evidence at murder trial, a pivotal win for the prosecution Huge loss for Alex Murdaugh defense on day 9 of double murder trial
(DBN)

Marines Charged in Capitol Riot Got Highly Sensitive Spy Jobs After Jan. 6 Convicted Jan. 6 Capitol rioter caught secretly filming woman undressing at tanning salon owned by his father: Police Jan. 6 rioter seen in Nancy Pelosi's office wants convictions tossed, claims 950,000-volt stun gun was 'non-dangerous'
(DBN)

Trump appeals $937,000 in sanctions for ‘frivolous’ suit against Hillary Clinton Trump Appeals Million-Dollar Sanctions Order On Grounds Of ... Ummm, He'll Tell You Later Donald Trump's lawyer appeals nearly $1 Million sanctions order against self and client
(DBN)

Trump Charges in GA Over 2020 Election Could Lead to Bigger Fed Case
(DBN)

Court Dropkicks Yet Another Garbage Trump Defamation Suit. Don't Worry, There's More Where That Came From.
(DBN)

FBI to search Pence's Indiana home for more classified documents
(DBN)

Neo-Nazi leader and Maryland woman allegedly plotted to 'completely destroy' Baltimore, Justice Department says Neo-Nazi leader among 2 arrested in plot targeting Baltimore's power grid, feds say
(DBN)

3 U.S. tourists stabbed in Puerto Rico after being told to stop filming in a popular area
(DBN)

NJ man admits paying hitman $20,000 in Bitcoin to silence teenage victim before seeking refund
(DBN)

Scammers target hopeful applicants to Biden's humanitarian parole program
(DBN)

Family of 3 found dead in apparent suicide pact were 'hell-bent' on Trump winning, thought it could be 'the end' if he lost: reports
(DBN)

A corrupt Chicago cop destroyed hundreds of lives. Now victims want justice.
(DBN)

Amid Criticism, Elite Crime Teams Dwindled. Then Cities Brought Them Back.
(DBN)

Police Officer Who Shot a Man in the Back Is Charged With Assault
(DBN)

Harris Announces Funding to Address Root Causes of Migration Crisis
(DBN)

What the end of the public health emergency means for Title 42
(DBN)

Antisemitic fliers found in some Atlanta suburbs
(DBN)

Why Do Left-Wing Protesters Keep Getting Killed by Police?
(DBN)

Texas husband sentenced to prison for murdering his wife after ‘obvious’ attempt to blame the victim blows up in his face
(DBN)

Dobbs Was Always Just the Beginning ABA supports right to travel for abortion services and other medical care Judge suggests abortion might be protected by 13th Amendment despite Supreme Court ruling
(DBN)

Most Gun Laws Aren't Backed by Evidence
(DBN)

______________

Judges:

Retired bankruptcy judge shares financial wisdom to students
(DBN)

Supreme Court justices should follow binding code of ethics, ABA House says
(DBN)

Supreme Court Clerks Hired More For Pedigree Than Merit In... Not-So Shocking News
(DBN)

Confederate symbols should be removed from courthouses, ABA House says
(DBN)

Should The Supreme Court Write This?
(DBN)

Now with a GOP majority, top state court votes to rehear 2 recently decided voting-rights cases New wrinkle could upend major Supreme Court case on potential US elections overhaul
(DBN)

Florida judges can no longer get CLE credit for general ‘fairness and diversity’ courses, state supreme court says
(DBN)

The First Black Woman On The Federal Bench
(DBN)

Judge Hit With $1.1 Million Verdict Over Firing Jewish Employee
(DBN)

It’s Time to Enact a 3-Judge Court Law for National Injunctions
(DBN)

______________

Wall Street:

Stock futures are little changed as investors await Fed Chair Powell’s speech
(DBN)

Wharton professor Jeremy Siegel warns the blowout US jobs report may be bad news for stocks - and could lead to a recession this year
(DBN)

Bed Bath & Beyond Stock Jumps 90% Monday Before Reversing After Hours: What's Going On?
(DBN)

Credit Suisse Is Delaying Compensation Day for Some of Its Bankers
(DBN)

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Layoffs:

Latest Round of Technology Job Cuts Comes From IBM, Lam Research
(DBN)

Silicon Valley needs to stop laying off workers and start firing CEOs
(DBN)

Robots Coming for Our Jobs Will Also Help Fire Us
(DBN)

VinFast Cuts About 80 Jobs in North America, Including US CFO
(DBN)

Boeing to slash about 2,000 white-collar jobs
(DBN)

______________

Tech:

Google to release ChatGPT-like bot named Bard
(DBN)

Musk’s Twitter Expected to Face the Strictest EU Content Rules
(DBN)

____________

Student Debt:

Business lobby, GOP officials urge SCOTUS to reject student debt relief
(DBN)

How ending the COVID emergency will complicate the fight over student-loan forgiveness
(DBN)

____________

Politics:

Biden delivers State of the Union address amid high inflation, divided Congress Biden to Test Message Before Divided Congress With Eye on 2024 Biden’s 2022 State of the Union report card: Where he delivered — and fell flat
(DBN)

CBS News pressed Sen. Ted Cruz on why he's running for reelection after he introduced a bill limiting senators to 2 terms in office: 'Why aren't you holding yourself to that standard?'
(DBN)

An ex-Romney presidential campaign strategist says Nikki Haley 'embodies the collapse' of the Republican Party
(DBN)

Rep. George Santos doubled down on the claim his mother died from cancer due to 9/11, despite records showing she wasn't even in the country George Santos Plays Hideout Zeldin dumps campaign treasurer he shared with Santos
(DBN)

Congressional centrists plot deal-cutting course in divided government
(DBN)

Pentagon: 'An awareness gap' led to failure to detect 3 Chinese balloons under Trump
(DBN)

The New York Times publishes bleakest Kamala Harris report yet
(DBN)

The GOP's 'better deal' is all about ending the middle class
(DBN)

____________

History:

How Truman Sold Americans on Going Hungry
(DBN)

____________


Economy:

Roaring job market could mess with the Fed's plans
(DBN)

Fed’s Neel Kashkari says central bank has not made enough progress, keeping his rate outlook
(DBN)

Citi’s Apabhai Says Prepare for the Risk Fed Rates Hit 6%
(DBN)

How the U.S. labor market went from ‘quiet quitting’ to ‘quiet hiring’
(DBN)

Households Burn Through What’s Left of Their Pandemic Savings
(WSJ)

Immigration Rebound Eases Shortage of Workers, Up to a Point
(DBN)

Yellen: 'You don't have a recession' when U.S. unemployment at 53-year low
(DBN)

Here's why the US economy won't fall into a recession this year or next, according to a key market signal
(DBN)

Goldman Cuts US Recession Odds to 25% on Jobs, Business Outlook
(DBN)

41% of Americans say they’re worse off financially under Biden, highest percentage for any president in 37 years Americans not feeling impact of Biden agenda, Post-ABC poll finds Job surge leads into State of the Union
(DBN)

Debt limit looms as Biden readies State of the Union
(DBN)

35% of millionaires say retirement is ‘going to take a miracle,’ report finds
(DBN)

Side Hustles Are Twice as Common as US Jobs Data Suggest, Survey Finds
(DBN)

IMF's Georgieva on "devastating" impact of Soviet policies
(DBN)

Russia's Jan budget deficit widens as energy revenues slump By the numbers: The delayed impact of the EU’s wartime sanctions on Russia Russia Racks Up $25 Billion Budget Gap as Energy Income Halves India will buy oil from ‘wherever we have to,’ energy minister says Saudi minister warns sanctions, underinvestment may cause energy shortages European Gas Slips on Ample Stockpiles, Milder Weather Outlook
(DBN)

Women report stunning levels of discrimination
(DBN)

Black women are worn out from discrimination in corporate America. They're leaving to launch their own businesses, creating a hole for talent across industries.
(DBN)

Everyone knew extra federal food stamp allotments would end. But the timing couldn't be worse.
(DBN)

Heavy Truck Sales Up 6% Year-over-year
(DBN)

U.S. is ‘absolutely’ behind on supply chain independence from China: Biden advisor
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

Black Knight Mortgage Monitor: Home Prices Declined in December; Down 5.3% since June
(DBN)

Fed Survey: Banks reported Tighter Standards, Weaker Demand for Residential Real Estate and HELOCs
(DBN)

Housing February 6th Weekly Update: Inventory Decreased 1.9% Week-over-week
(DBN)

The remote workers have left, but the housing havoc they created remains
(DBN)

Rise in Homelessness Hits Several New England States
(WSJ)

____________

Municipalities:

Creditors object to proposed PREPA disclosure statement
(DBN)

Special session of Florida Legislature deals with Disney's Reedy Creek district Ron DeSantis to Take Control of Disney’s District Board in New Bill
(DBN)

Puerto Rico Governor Pierluisi Unveils Sweeping Tax Reform Plan
(DBN)

____________

Oil/Gas:

BP posts record 2022 earnings to join Big Oil profit bonanza BP Slows Retreat From Oil as Ukraine War Drives Record Profits BP Adds to Big Oil Cash Gusher With Dividend Hike, Buybacks
(DBN)

Oil Giants’ $68 Billion Profits Set to Fuel UK Tax Debate
(DBN)

____________

Crypto:

Navigating Bankruptcy in Digital Asset Markets: Netting and Collateral Enforceability
(DBN)

The Midas Curse? How Cryptocurrency Has Impacted Directors and Officers
(DBN)

US government says FTX’s new CEO needs oversight FTX's new CEO says independent investigation would be a waste of money The new CEO of FTX charged $690,000 for 2 months of work untangling the failed crypto exchange's chaotic finances FTX CEO testifies on ‘pure hell’ post-bankruptcy days at exchange FTX Judge Considers The Approval To Independent Bankruptcy Investigation FTX points to cost, cyber-risk in opposing independent bankruptcy investigation Independent FTX Examiner Could Cost Crypto Exchange $100M, Court Told FTX’s bankruptcy judge is undecided on appointing independent examiner
(DBN)

Binance to temporarily suspend U.S. dollar bank transfers Binance briefly halts US dollar transfers
(DBN)

FTX has chased politicians like Nancy Pelosi to return donations given before the crypto giant's collapse. They now have a deadline of February 28 to pay FTX Money Backed US Lawmakers With Future of Crypto in Their Hands Sam Bankman-Fried Lawyer Says Agreement Has Been Reached on Use of Messaging Apps How Sam Bankman-Fried's psychiatrist became his confidante at doomed billion-dollar crypto exchange FTX FTX's new boss says security was so weak that founders could 'download half a billion dollars' of crypto without detection, report says
(DBN)

Genesis Reaches Agreement in Principle with DCG and Key Creditors on a Global Resolution that Optimizes Outcome for Clients and Stakeholders DCG Creditor Pact Revealed With Plan to Sell Genesis Trading Unit as Part of Bankruptcy Winklevoss twins' crypto trade Gemini to contribute $100 million to Genesis chapter restoration Silbert, Winklevoss Twins End Crypto Spat Over Bankrupt Genesis
(DBN)

Signature Bank Sued for 'Substantially Facilitating' FTX Comingling
(DBN)

DCG Is Selling Holdings in Grayscale: Financial Times
(DBN)

Is Digital Currency Group headed for bankruptcy?
(DBN)

Britcoin? UK gets closer to launching a digital currency
(DBN)

UK Banks Blocking Crypto Access Given Fraud, Volatility, Lawmakers Told
(DBN)

DebtDAO to Burn 18M FTX User Debt Tokens Following Demand Frenzy
(DBN)

Crypto ad deals for Super Bowl LVII fell apart after FTX collapse: Report
(DBN)

____________

Healthcare:

A Washington woman with tuberculosis refuses treatment, so authorities got court orders
(DBN)

New York City drops COVID-19 vaccine requirement for city workers
(DBN)

California won't require COVID vaccine to attend schools
(DBN)

As many as 80K Marylanders could lose Medicaid eligibility
(DBN)

Fox News host says sickness shouldn't stop you from working: 'We just come in and cough all over each other'
(DBN)

Oregon becomes America's first 'death tourism' destination - with one 'Dr. Death' offering terminally ill people from out-of-state a deadly cocktail of drugs at his assisted suicide clinic
(DBN)

____________

Fraud:

Avaya Board Accused of ‘Massive Fraud’ in Suit by Bondholders
(DBN)

Cybercriminals fool Chase customer and bank in scam that stole $120,000
(DBN)

Criminals use Telegram to recruit help as U.S. banks see 84% rise in check fraud
(DBN)

____________

Climate:

It’s everywhere: Sea-level rise’s surprising reach damaging more than East Coast shoreline
(DBN)

Rising seas will force North Carolina beach towns to move. The idea of leaving isn’t easy.
(DBN)

A $5 Trillion Sovereign Bond Group Is Rethinking Climate Risk
(DBN)

____________

 


New Bankruptcy Opinions
(7 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (62 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (8 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 Drop 6.3 Percent
(DBN)

______________

Bankruptcy Strategy:

Put down your fiddle: Third Circuit halts Johnson & Johnson’s Texas two-step
(DBN)

The Music Stops on the Texas Two-Step: Third Circuit Dismisses LTL Bankruptcy Case
(DBN)

Talc ruling a blow to J&J and the ‘Texas two-step’ bankruptcy jig
(DBN)

Third Circuit Dismisses J&J Bankruptcy Case for Lack of Good Faith
(DBN)

____________

Bankruptcy Crimes:

Two Men Convicted Following Federal Fraud Conspiracy Trial for $1 Million “Free Bankruptcy” Scheme to Strip Liens from 100 Cars
(DBN)

____________

Mass Torts:

3M faces more hurdles over earplug lawsuits strategy
(DBN)

Key Issues in the U.S. Asbestos (and Talc) Tort System in 2023
(DBN)

____________

Proofs of Claim:

Creditor that Filed an Excessive Claim Draws Court’s Rebuke and Possible Sanctions
(DBN)

____________

Aviation:

FAA proposes more than $1 million fine on United Airlines over safety checks
(DBN)

____________

Pharma:

Drug companies face COVID cliff in 2023 as sales set to plummet
(DBN)

The Medicine Is a Miracle, but Only if You Can Afford It
(DBN)

____________

Pets:

Independent Pet Partners Files for Chapter 11
(DBN)

TPG’s Pet-Care Bet Ends in Bankruptcy as Costs, Probe Take Toll
(DBN)

Another popular retailer becomes latest victim of ‘retail apocalypse’ as it files for bankruptcy and closes 53 stores
(DBN)

____________

Retailing:

Bed Bath & Beyond Plans Share Sale in Bid to Avoid Bankruptcy Bed Bath & Beyond Staves Off Bankruptcy At The Price Of Massive Dilution Bed Bath & Beyond plans share sale after meme bounce, stock plunges in after-hours trading Bed Bath & Beyond Moves to Raise $1 Billion as Bankruptcy Clouds Loom Bed Bath & Beyond's 4 key bets that became its biggest blunders Bed Bath & Beyond's road to potential bankruptcy
(DBN)

____________

Hotels:

Urban Commons vs. the world: Firm shifts blame as Wagner Hotel faces auction
(DBN)

____________

Accounting:

Americanas’ $4 Billion Accounting Scandal Puts More Scrutiny on PwC’s Auditing Record
(DBN)

____________

Movie Theaters:

AMC Theatres to charge different movie ticket prices depending on seat
(DBN)

____________

Sovereigns:

Judge could take months to decide case of Castro-era Cuban debt Cuba ministers express willingness to engage with ‘legitimate’ creditors
(DBN)

Ghana Plans to Offer Delayed Bond Payments to Lure Pension Funds
(DBN)

____________

UK:

Sidley Strengthens Growing Global Restructuring Group With the Return of Kieran Sharma
(DBN)

BOE Officials Say Brexit Is Fueling Inflation, Driving Up Rates
(DBN)

A London Officer’s Crimes Laid Bare
(DBN)

Croydon gets special permission to put council tax up ‘staggering’ 15%
(DBN)

UK Retailers Complain of January Blues Following Christmas Boom
(DBN)

Blanchflower Says Housing Market Collapse Will Force BOE Pivot
(DBN)

____________

Russia:

Ukraine's defense ministry in turmoil as Russia readies offensive Ex-U.S. General Casts Doubt Over Size of Putin’s Newly Mobilized Army Outnumbered and Worn Out, Ukrainians in East Brace for Russian Assault Russia Preparing Large Scale Offensive
(DBN)

Ukraine's Zelenskiy says situation at the front getting tougher
(DBN)

Israel is considering sending its Iron Dome air defense system to Ukraine, Netanyahu says
(DBN)

UN chief fears world headed for 'wider war' over Ukraine-Russia
(DBN)

Russian Death Toll in Ukraine Passes 130,000
(DBN)

Russian Invasion Displaced 13.3 Million
(DBN)

____________

MENA:

7.8-magnitude quake kills thousands in Turkey and Syria Huge earthquake kills 2,600 in Turkey and Syria, bad weather worsens plight More than 2,400 dead as two massive earthquakes rock Turkey and Syria Earthquakes and aftershocks sent buildings crumbling; rescuers sift through the rubble for survivors Photos show aftermath of two massive earthquakes that struck Turkey and Syria U.S. promises swift aid to Turkey and Syria after deadly earthquake Turkey Death Toll from Quake Crosses 5,000
(DBN)

Taliban Bureaucrats Hate Working Online All Day, ‘Miss the Days of Jihad’
(DBN)

____________

China:

China accuses U.S. of using 'indiscriminate' force as military searches for balloon remnants Chinese spy balloon fallout roils Washington and Beijing China has reasons to keep cool after U.S. downs suspected spy balloon Balloon Recovery Begins as US Weighs What China’s Leaders Knew War of words over downed Chinese spy balloon continues as US recovers debris Chinese Balloons Were Spotted Near US Bases During Trump’s Era
(DBN)

U.S.-China trade likely set record in 2022
(DBN)

____________

Germany:

German Deindustrialization Is Still Looming
(DBN)

____________

India:

Adani Stocks Trade Mixed as Investors Await Slew of Earnings Adani Ports to Repay $605 Million of Debt, Cut Capital Spending
(DBN)

____________

South Africa:

Eskom’s Survival Depends on Debt Relief and Tariffs, CEO Says
(DBN)

____________

Taiwan:

Taiwan’s Exports Fall by Most Since 2009 as World Demand Weakens
(DBN)

____________

France:

French Pension Strikes Return as Lawmakers Review Reform Bill
(DBN)

____________


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