February 8, 2023

The Daily Bankruptcy News

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3-Column Formating

 

Law:

Biglaw Firm Conducts Layoffs, Citing 'Excess Capacity' Davis Wright Tremaine Cuts Staff, Citing ‘Excess Capacity’
(DBN)

Expect Some Biglaw Belt Tightening To Control Costs In 2023
(DBN)

The Best Law Schools For Minority Students (2023)
(DBN)

Biglaw Firm Finally Finds Kanye West, Dumps Him As Client
(DBN)

Goodwin Welcomes Financial Restructuring Partner Debora Hoehne in New York
(DBN)

Girardi Litigation Funders Win Exit From Bankruptcy Trustee Suit
(DBN)

Madison Square Garden lifts ban on some lawyers as it explores sale of Tao Group
(DBN)

Caretaker’s testimony hurts alibi of once-prominent lawyer Murdaugh, who’s charged with murdering wife and son
(DBN)

Fired staff attorney awarded over $1.1M for firing after she sought time off for Jewish holidays
(DBN)

Manhattan DA was 'weeks' away from filing criminal charges against Trump in 2020, when he was still president, former prosecutor says
(DBN)

Donald Trump's new lawyer vows no more delay tactics as E. Jean Carroll rape case heads for trial
(DBN)

Donald Trump skewered in court for mixing up rape accuser with ex-wife Marla Maples in deposition: Unsealed docs
(DBN)

What's happening with the Trump special counsel investigation?
(DBN)

Canada complains that New York is using a legal loophole to send migrants its way, buying them bus tickets to the border
(DBN)

Does the 13th amendment protect abortion rights? Federal judge causes stir by hinting that Constitution might still protect abortion rights after SCOTUS ruling A federal judge mocks the Supreme Court on abortion Here’s What States Are Doing to Abortion Rights in 2023
(DBN)

Alec Baldwin demands to disqualify special prosecutor, claims her status as GOP lawmaker makes appointment ‘unconstitutional’
(DBN)

Family files lawsuit against off-duty Kenosha police officer who kneeled on 12-year-old girl’s neck Father of 'Jane Doe' who was pinned to the ground by off-duty Kenosha police officer files excessive force lawsuit
(DBN)

ABA resolves to ‘take a leadership role in opposing antisemitism’
(DBN)

Memphis Officer Texted Photo of Tyre Nichols After Beating 7 more Memphis police officers under investigation in Tyre Nichols traffic stop
(DBN)

Lawyer for Black man on trial for murder referenced ‘justifiable lynching’ in trial note, petition says
(DBN)

Tennessee police chief who vowed to restore 'public trust' after sex scandal fired for failing to address misconduct
(DBN)

Documents reveal why prosecutors believe a mother abducted her own kids and went on the run after no-showing court
(DBN)

6-year-old boy who shot teacher allegedly choked another teacher until she couldn't breathe: Reports
(DBN)

Uncertainty plagues gun laws new and old after Supreme Court ruling
(DBN)

'Incredibly misguided' enraged mom ran over teen boy twice in parking lot and traded in her SUV the same day: DA
(DBN)

Number of migrant border crossings drops to lowest level in two years, DHS says
(DBN)

______________

Judges:

Ransomware outbreak hits Florida Supreme Court, US and European universities
(DBN)

Ex-judge is suspended after secret recording by possible rival candidate revealed threat
(DBN)

The ABA Decides That Courtrooms Shouldn't Still Have Confederate Flags In Them. Also, There Are Courtrooms With Confederate Flags Still In Them.
(DBN)

______________

Wall Street:

Stock futures dip slightly as traders focus on corporate earnings
(DBN)

Meme investors go to bed, take a bath
(DBN)

______________

Layoffs:

Tech firms, Wall Street lead job cuts in corporate America
(DBN)

Zoom to layoff nearly 15% staff as pandemic wanes
(DBN)

Thermo Fisher lays off 230
(DBN)

eBay announces layoff of 500
(DBN)

Truist Financial sheds 5% of investment-banking staff
(DBN)

Secureworks Discloses Layoffs For 9 Percent Of Staff
(DBN)

Google emails some Canadian employees to tell them they're being laid off as part of its plan to cut 12,000 jobs globally: 'Feels as harsh as being fired'
(DBN)

Even if ChatGPT doesn't take your job, it could help another human replace you, says the economist who famously concluded AI could eliminate nearly half of US jobs The economist who predicted that A.I. would replace half of all U.S. jobs now says ChatGPT is the equivalent of Uber disrupting the taxi industry—and it could lead to lower wages
(DBN)

Media braces for the robot era
(DBN)

There are plenty of open jobs for tech workers — they're just not at tech companies
(DBN)

______________

Tech:

Twitter reportedly had only 180,000 subscribers in the US last month Turns Out Not Many Want to Pay for Twitter
(DBN)

Elon Musk's Tweet Trial Holds Many Wins
(DBN)

Sen. Josh Hawley wants to create a legal age to be allowed on social media
(DBN)

Google targets low-income US women with ads for anti-abortion pregnancy centers, study shows
(DBN)

____________

Pharma:

Insulin is way too expensive. California has a solution: Make its own.
(DBN)

____________

Movies:

Barry Diller: The Oscars Are Over and the Movie Business Is Finished
(DBN)

____________

Agribusiness:

US May Ban China Ownership of Farmland
(DBN)

____________

Maritime:

Shipping firm Maersk posts record 2022 earnings but warns of a tough year ahead
(DBN)

____________

Economy:

Bank of America CEO Brian Moynihan warns to prepare for a US debt default and a recession that will drag down corporate earnings The CEO of America’s second-largest bank is preparing for possible US debt default
(DBN)

The odds of the US slipping into recession are now just 25% thanks to a surge in jobs, Goldman Sachs says
(DBN)

Shoppers to face fresh price hikes as stores, suppliers pass on costs
(DBN)

Powell says jobs report shows Fed needs to keep raising rates, but he expects ‘significant’ slowdown in inflation
(DBN)

Stop treating unemployment as a necessary evil to curb inflation
(DBN)

Fed Chair Strikes a Wary Tone as Biden Prepares to Tout the Economy
(DBN)

How Gen Z and the Great Resignation created a wave of overinflated job titles
(DBN)

Pence Suggests Controversial Bush-Era Social Security Reform — Why It Failed Last Time
(DBN)

U.S. Business Owners Pay Premium to Hire Migrant Workers in Extremely Tight Labor Market
(WSJ)

Nobel economist Paul Krugman says doomsday economic predictions were wrong, and the Fed risks a recession if it tries to respond to 'imaginary' stagflation
(DBN)

The Biden economy: Waning inflation, record jobs, lingering uncertainty
(DBN)

College degrees are losing more career clout
(DBN)

Trade deficit climbs to record $948B Trade Deficit increased to $67.4 Billion in December
(DBN)

Russia’s oil revenues plunge as EU’s oil war enters round 2 Russian state bank VTB blames 2022 losses on sanctions -CEO
(DBN)

Iowa Legislators Invite 9th Graders To Make Factory Work Great Again
(DBN)

What banning noncompetes could mean for the US workforce
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

11th Circuit Holds No Modification for Principal Residence Mortgage in Bankruptcy
(DBN)

MBA: Mortgage Applications Increased in Latest Weekly Survey Mortgage refinance demand jumps 18% as interest rates drop
(DBN)

CoreLogic: House Prices up 6.9% YoY in December; Declined 0.4% MoM in December NSA
(DBN)

Freddie Mac House Price Index Declines for 7th Consecutive Month in December
(DBN)

Leading Index for Commercial Real Estate Decreases in January
(DBN)

____________

Municipalities:

It Was Good to Be Friends With the Mayor. Then the Investigations Began A Growing List of Allegations at Anchorage City Hall
(DBN)

Lawmakers Attempting Takeover of Funds for Jackson’s Water System, Federal Manager Warns
(DBN)

____________

Oil/Gas:

BP, in a Reversal, Says It Will Produce More Oil and Gas
(DBN)

Yes, Joe Biden Really Said That About Oil
(DBN)

____________

Crypto:

Staking, Yield Farming, Liquidity Mining, Crypto Lending – What are the Customer’s Risks?
(DBN)

U.S. judge rejects new bail conditions for FTX founder Sam Bankman-Fried Sam Bankman-Fried Appeals Judge’s Decision to Reveal Names of His $250M Bond Backers FTX Examiner Compromise Would Bring Investigation With Limited Scope FTX Lawyers Sullivan & Cromwell Bill $7.5M for First 19 Day's Bankruptcy Work Voyager subpoenas FTX and Alameda execs as judge orders fee examiner
(DBN)

Alameda wallets resurrect to transfer FTT in the millions
(DBN)

Binance will suspend US dollar transfers from Wednesday, and that's reportedly causing millions to flow to rival exchanges
(DBN)

Genesis creditors to expect 80% recovery under proposed restructuring plan
(DBN)

Super Bowl Bans Crypto Commercials Following FTX Collapse
(DBN)

Three Arrows’ Founder Refused to Comply With Subpoena, Stonewalling Probe, Court Told
(DBN)

Binance APAC Head Suggests Full Audit of the Crypto Exchange Isn't Happening Soon
(DBN)

UK Crypto Firms and Regulator Blame Each Other for Industry Exodus
(DBN)

____________

Newspapers:

America's print tabloid era is over
(DBN)

____________

Healthcare:

Biden to push for expanded insulin caps, Medicaid coverage in SOTU
(DBN)

Why scientists are worried about bird flu
(DBN)

____________

Politics:

Biden will revive the billionaire minimum tax and call for a big jump in stock buyback tax in his State of the Union speech Biden's unity push at the State of the Union Biden’s tough sales job Biden to Address Nation Under Shadow of China, Debt Tensions 43% Approval ‘Pride is coming back’: Biden touts victories on jobs and climate in State of the Union address FactCheck State of the Union Address We annotated all 73 minutes of Biden's speech. Here's what stood out. The state of Biden’s union with a GOP Congress: It’s tense 5 winners and 2 losers from Biden’s 2023 State of the Union What Biden said — and what he meant Why Republicans heckled Joe Biden’s State of the Union speech 'Liar!': Watch Marjorie Taylor Greene interrupt Biden during speech Biden Baits Republicans With Unity Pleas That Provoke Catcalls Six takeaways from Biden's State of the Union Five key economic points in Biden’s 2023 State of the Union address
(DBN)

Boebert Prays for Biden's Death
(DBN)

Sarah Huckabee Sanders attacks ‘left-wing culture war’ in SOTU response
(DBN)

Club for Growth Distances Itself Further From Trump
(DBN)

House GOP Opens Hunter Biden Probe, Focusing on What Twitter Did House GOP's under-the-radar Hunter Biden problem: DOJ got there first
(DBN)

Trump posts photos of Ron DeSantis as a teacher, allegedly partying with high school girls Trump Now Sharing Memes Accusing DeSantis of ‘Grooming High School Girls’
(DBN)

GOP Megadonors Are Coming for Trump
(DBN)

GOP’s Probe Into Hunter Biden Risks Political Blowback
(DBN)

DeSantis tries to revoke Orlando Philharmonic's liquor license over drag show
(DBN)

Large numbers of Americans want a strong, rough, anti-democratic leader
(DBN)

Rep. Matt Gaetz quietly appointed to committee investigating government 'weaponization'
(DBN)

Romney tells embattled Republican George Santos he 'shouldn't be in Congress'
(DBN)

___________

New Bankruptcy Opinions
(3 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (16 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (7 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)

Exemptions:

Michigan Bankruptcy Exemptions Set to Rise Significantly on March 1
(DBN)

____________

Confirmation:

Plan-Support Agreements: Uncertainty Abounds
(DBN)

____________

IP:

Sellers of ATN Pirate Service Ordered to Pay More Than $32M
(DBN)

____________

Avoidance Actions:

Seventh Circuit Overturns Bankruptcy Precedent, Finds Transfer Occurs When Money is Paid
(DBN)

____________

Mass Torts:

Third Circuit’s Choice Of Huge Disparities For Similarly Situated Claimants Is Inexplicable (Johnson & Johnson)
(DBN)

____________

Cross-Border:

US Bankruptcy Court dismisses Ch. 15 case, bars foreign representative from appearing before it
(DBN)

____________

Valuation:

Distressed Sale Discounts
(DBN)

____________

Bankruptcy Crimes:

LA County real estate developer agrees to plead guilty to federal charges
(DBN)

____________

Cannabis:

The Unfair Contradiction of the Conflict of State and Federal Laws on the Bankruptcy Proceedings of Dispensary Employees
(DBN)

____________

Aviation:

Shuttered South African airline Comair sues Boeing over 737 MAX purchases
(DBN)

New bill would force airlines to pay bumped passengers $1,350
(DBN)

4 people taken to hospital after battery fire forces United flight to return to San Diego
(DBN)

____________

Retailing:

Bed Bath & Beyond lines up funding in a last-ditch bid to avoid bankruptcy Investment Firm Backs Bed Bath & Beyond’s Stock Offering Bed Bath & Beyond Staves off Bankruptcy With $225 Million From Stock Sale Bed Bath & Beyond Inc. Announces Completion of Public Equity Offering and Provides Strategic Update Struggling Bed Bath & Beyond Closing 150 More Stores Bed Bath & Beyond Making 'Last Gasp' To Survive Before Filing For Bankruptcy, Says Analyst, Warning That The Equity Would Eventually Be Wiped Out
(DBN)

____________

Autos:

Wholesale Used Car Prices Increased in January, Down 12.8% Year-over-year
(DBN)

____________

Fraud:

Glamorous Miami influencer used $381K in COVID relief funds on Bentley, cosmetic surgery: feds
(DBN)

____________

Education:

Gun magazine and ammunition found in 5-year-old student's backpack at New York school, officials say
(DBN)

____________

History:

How the US influenced the creation of Nazi race laws under Hitler
(DBN)

____________

Climate:

Big oil stirs up a battle over leading the clean tech arms race
(DBN)

In from the coal: Australia sheds climate pariah status to make up with Europe
(DBN)

Report: 36 million trees died in California last year; nearly 4 times more than 2021
(DBN)

____________

Sovereigns:

Sri Lanka President Seeks to Reunite, Revive Bankrupt Nation
(DBN)

____________

UK:

The Supreme Court has refused a debtor permission to appeal against a bankruptcy order in the case of Howell v Hughes & Hughes
(DBN)

Meghan Markle's half-sister accuses Duchess of 'willfully withholding evidence and stonewalling' in lawsuit, wants Prince Harry to testify under oath
(DBN)

____________

Russia:

Top Putin Ally Says He ‘Will Not Hide’ Intention to Invade Poland Anymore
(DBN)

Videos show Russian troops beating own officer
(DBN)

____________

China:

GOP preps anti-China economic salvo
(DBN)

US officials believe the recently recovered Chinese spy balloon is part of an extensive surveillance program, sources say
(DBN)

China’s economy will grow 5% this year, Fitch Ratings says in upgraded forecast
(DBN)

____________

Turkey:

'Silence!': Hushed search for Turkey's quake survivors Race to find survivors as quake aid pours into Turkey, Syria Fears grow for untold numbers buried by Turkey earthquake Dead Toll Crosses 9,500 in Turkey Earthquake
(DBN)

____________

Germany:

German insolvency angst eases but retailers still struggle
(DBN)

____________

MENA:

The US’s empty commitment to a two-state solution
(DBN)

____________


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