February 9, 2023

The Daily Bankruptcy News

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Law:

Biglaw's Profits Per Equity Partner Are Taking A Hit
(DBN)

BigLaw firm lays of 12 associates and 26 staff members because of ‘economic headwinds’
(DBN)

Shearman & Sterling Announces Layoffs -- Associates And Staff Impacted By The Cuts New York Law Firm Shearman & Sterling Lays off Lawyers and Staff
(DBN)

BigLaw firm cuts 21 staff members, citing ‘excess capacity’ and ‘misalignment’
(DBN)

American Pastimes: Pricey Super Bowl Ads and Rich Lawyers
(DBN)

The Law Schools That Are The Toughest To Get Into (2023)
(DBN)

How the Legal Profession Will Leverage Standards and Artificial Intelligence
(DBN)

Biglaw Partner Learns The Hard Way You Can't Launch 'Baseless' Accusations Of Antisemitism
(DBN)

What I Learned From My First Day In An Office In 4 Years
(DBN)

Law Professor Proves Gun Control Doesn't Work By Citing Studies That... Don't Say That At All
(DBN)

Manhattan DA, former prosecutor trade barbs over decision on prosecuting Trump
(DBN)

Michael Cohen to meet with Manhattan DA amid Trump grand jury Michael Cohen says Manhattan DA case against Trump is ‘ready to take off’
(DBN)

'You ain't s---': Texas man seen confronting, shoving police officer on Jan. 6 faces felony charges
(DBN)

Trump Lawyers Promise To Start Playing Nice In E. Jean Carroll Defamation Cases
(DBN)

How a Dominion Lawyer Became the Latest Battle in the Trump-DeSantis War
(DBN)

Alex Murdaugh’s Colleagues Thought He Was a Lousy Lawyer SC attorney accused of murder faked his way through his career: associates Alex Murdaugh double murder trial begins again after bomb threat evacuates courtroom on day 11
(DBN)

Five unanswered questions about the Tyre Nichols case Lawsuit alleges officers who beat Tyre Nichols beat another man three days earlier All 5 officers charged in Tyre Nichols' death removed or failed to activate their body-worn cameras. They were caught by a 'sky cop' camera installed to monitor crime hotspots.
(DBN)

Jeffrey Epstein's Banks Seek To End Accusers' Lawsuits Deutsche Bank claims settlement deal with Jeffrey Epstein survivor shields them from lawsuit accusing them of 'complicity'
(DBN)

Biden on documents: People packing offices 'didn't do the kind of job that should've been done'
(DBN)

Florida mass shooting suspect killed during police pursuit
(DBN)

Family sues fraternity for $28 million over Virginia Commonwealth University student's hazing death
(DBN)

Memphis man alleges beating by ex-cops charged in Tyre Nichols' killing Cops Never Said Why They Pulled Over Tyre
(DBN)

California County Agrees to Pay $4.5 Million in Death of Man Stunned With Taser
(DBN)

Former police detective gets consecutive life sentences for murder and attempted murder over fatal shooting in 'love triangle gone wrong'
(DBN)

Off-duty officer dies from injuries sustained when fake car offer turned into armed robbery attempt: Police
(DBN)

Real estate heir accused of killing grandfather and mother for millions in inheritance money now set for trial
(DBN)

Man who fired blanks inside San Francisco synagogue charged with hate crime: Prosecutors
(DBN)

Missouri executes man who said he was 1,800 miles away during killings
(DBN)

Appeals court backs N.C. attorney general in battle to avoid criminal libel prosecution
(DBN)

The FBI's McGonigal labyrinth
(DBN)

Baldwin Charged Under a Post-Shooting Law
(DBN)

Court could ban abortion pills nationwide
(DBN)

Cities Need to Be Able to Regulate Guns. States Should Let Them.
(DBN)

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Judges:

Judicial vacancies trigger suspension of trials in some parts of New Jersey 69 problems on the bench for New Jersey courts
(DBN)

Judge accused of using role as charity trustee to donate money to courts, juvenile justice center
(DBN)

Judge Uses ChatGPT To Render Decision
(DBN)

The ABA Has Had Enough Of The Supreme Court Being Held Unaccountable
(DBN)

Former Federal Judge Reveals Why She Left The Bench For Biglaw
(DBN)

I Did Not Have Mississippi Creating Whites-Only Courts On My Black History Month Bingo Card
(DBN)

Republican Leaders Might Not Be Trying to Kill Social Security and Medicare. But Their Judges Are.
(DBN)

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Wall Street:

Dow futures jump 200 points as investors evaluate latest batch of earnings
(DBN)

Inside David Solomon's efforts to transform Goldman Sachs —and where things went wrong
(DBN)

The Fed isn't telling markets what to do anymore
(DBN)

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Layoffs:

NBC, MSNBC employees plan walkout in protest of layoffs
(DBN)

Disney to cut 7,000 jobs and slash $5.5 billion in costs as it unveils vast restructuring
(DBN)

St. Luke's to layoff 320
(DBN)

GoDaddy To Layoff 8%
(DBN)

JPMorgan lays off hundreds of mortgage employees
(DBN)

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Skiing:

This Winter, More Than Ever, We’re Skiing Straight to Hell
(DBN)

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Politics:

George Santos' constituents call for him to resign during D.C. protest GOP lawmaker: George Santos is "a sociopath" All the House Republicans who have called for George Santos to resign Santos on Romney’s criticism: ‘It wasn’t very Mormon of him’ Comer says it was ‘questionable’ for Santos to attend State of the Union
(DBN)

Biden touts economic recovery and admonishes GOP in State of the Union SOTU Poll: Whopping 72 Percent Approved of Biden Speech — Including 43% of Republicans Why Biden’s Speech Worked After Shouts of ‘Liar’ and Worse, Biden Takes on His Detractors in Real Time Wallace Roasts Hecklers: 'They Literally Played Into His Hands' ‘He rope-a-doped them’: Democrats celebrate GOP jeers at SOTU How the House GOP blew up at Biden’s State of the Union Marjorie Taylor Greene slammed by Twitter mob following bizarre SOTU antics Republicans heckle Biden after he swipes at their Social Security positions Trump, potential 2024 GOP contenders respond to Biden's State of the Union Kevin McCarthy promised no childish stunts at the State of the Union. That didn't stop MTG carrying a big white balloon around Capitol Hill State Of The Union TV Viewership Falls 29% To 27.3 Million, According To Nielsen
(DBN)

Democratic support for Biden 2024 bid jumps in pre-SOTU poll
(DBN)

House panel seeks out ‘collusion’ between FBI, Twitter execs who censored Hunter Biden laptop story White House hits House GOP for ‘bizarre political stunt’ with Hunter Biden Twitter hearing
(DBN)

House Republicans’ wanted list: Hunter Biden, big tech and the FBI
(DBN)

Trump rips Club for Growth after he wasn’t invited to donor retreat
(DBN)

Pennsylvania Democrats take back state House control with three special election wins
(DBN)

Manchin 'raising hell' over White House handling of marquee Dem bill
(DBN)

McCarthy brings in record haul at first fundraiser since becoming Speaker
(DBN)

Gov. DeSantis wants to expand state guard to more than triple in size
(DBN)

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Economy:

Fed's Powell: Slowing inflation will "probably be bumpy"
(DBN)

Half in U.S. Say They Are Worse Off, Highest Since 2009
(DBN)

Biden's Economy by the Numbers
(DBN)

Fed Reserve official says he gauges inflation by the price of Stouffer’s frozen lasagna
(DBN)

Wharton Professor: The Fed Caused Inflation
(DBN)

Uber CEO: We see no signs of consumer weakness
(DBN)

Unilever says prices hikes will continue into this year, easing in second half
(DBN)

Wharton professor Jeremy Siegel breaks down why he blames the Fed for inflation — and warns the central bank now risks tanking the economy
(DBN)

The debt moment when Biden’s State of the Union turned spicy
(DBN)

Public support soft on GOP debt limit demands
(DBN)

Russia's budget deficit explodes as latest sanctions bite
(DBN)

White House’s new wage measure
(DBN)

NYC Wealth Exodus Drives Billionaire’s Bet on South Florida Boom
(DBN)

Scott doubles down on sunsetting all federal programs after Biden’s jab
(DBN)

Watchdog: US may have misspent $191B in pandemic unemployment benefits
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Bankruptcy sale of S.A. office highrises falls through
(DBN)

Manhattan rents hit an all-time high in January
(DBN)

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Municipalities:

PREPA bond arguments pose danger to municipal revenue bond market
(DBN)

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Oil/Gas:

Oil company profits are at a record high. It won’t last.
(DBN)

Why BP is Cutting Back Climate Goals
(DBN)

More than half of new U.S. electric-generating capacity in 2023 will be solar
(DBN)

Shell’s directors sued over climate strategy in a first-of-its-kind lawsuit
(DBN)

Mr. President, We Will Need Oil For Much Longer Than 10 More Years
(DBN)

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Tech:

Why Right-Wingers Are Obsessed With Making ChatGPT Say Slurs
(DBN)

Former Twitter executives testify before House Oversight about Hunter Biden laptop story Trump asked Twitter to take down ‘derogatory’ tweet from Chrissy Teigen: whistleblower Republicans held a hearing to prove Twitter's bias against them. It backfired in spectacular fashion House Republicans’ Hunter Biden Probe Begins With a Thud
(DBN)

Jim Jordan requests communications between Biden administration, social media companies
(DBN)

I asked Microsoft's 'new Bing' to write me a cover letter for a job. It refused, saying this would be 'unethical' and 'unfair to other applicants.'
(DBN)

Disinformation researchers raise alarms about powerful capabilities of AI chatbots
(DBN)

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Celebs:

Bankrupt Katie Price dodges court hearing for a fourth time over her £3.2million debt repayment
(DBN)

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Crypto:

FTX, Celsius Bankruptcies With Billions on Line Push Judges Into Legal Void
(DBN)

2 firms helping with FTX's bankruptcy are seeking $13 million of payment for under 3 weeks of work, including nearly $20,000 for food Lawyers and advisors in FTX bankruptcy have billed nearly $20 million for 51 days of work FTX Bankruptcy Judge Allows Company to Subpoena Founder Bankman-Fried, Other 'Insiders' ‘Sam? Are you there?!’ The bizarre and brutal final hours of FTX FTX gets court approval to subpoena founder Bankman-Fried, other insiders Robinhood board gives nod to buy Sam Bankman-Fried’s $578M stake
(DBN)

Tom Brady's team was convinced they were looking at 'legit financials' when they first piled into FTX, report says
(DBN)

Bankrupt Crypto ATM Operator Owes Genesis Over $100 Million
(DBN)

Coin Cloud Files for Chapter 11 Bankruptcy Protection in District of Nevada Coin Cloud crypto ATM operator files for bankruptcy, owes over $100M to Genesis
(DBN)

Does Genesis bankruptcy Deal Benefit the Crypto Sector?
(DBN)

Cash Burn at Bankrupt Celsius Sparks Ire Over Plea for More Time Celsius’ Proposed Extension for Wind-Up Opposed by Creditors, US Government
(DBN)

3AC founder has 'chosen to ignore his duties' by not responding to subpoena, say bankruptcy lawyers
(DBN)

Coinbase's CEO Cites 'Rumors' the SEC May Ban Crypto Staking for Retail Customers
(DBN)

Brazil: $193 Million ‘Crypto Pyramid’ Firm Declared Bankrupt
(DBN)

Tax Benefits Available For Victims Of The Crypto Crash And Scams
(DBN)

Crypto lender SALT makes comeback with $64.4 million funding
(DBN)

Shark Tank Star Kevin O'Leary Says Most Crypto Tokens Are Worthless — 'They'll Eventually Just Go to Zero'
(DBN)

Crypto exchange Kraken is embroiled in an SEC probe over whether it sold unregistered securities, report says
(DBN)

Argentina to Seek Proof of Solvency From Crypto Firms After FTX
(DBN)

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Fraud:

Brothers in Fraud: Carolina Insurance Agents Plead Guilty to Ponzi Scheme Charges
(DBN)

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Climate:

Europe moves from anger toward acceptance of U.S. climate law
(DBN)

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New Bankruptcy Opinions
(3 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (33 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:

U.S. Courts: Bankruptcy Filings Decline 6 Percent in 2022 Another economic indicator defying predictions? Bankruptcies fell again last year
(DBN)

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Bankruptcy Strategy:

J&J Bankruptcy Ruling Knocks Money Deal
(DBN)

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Mass Torts:

In Defense of Chapter 11 for Mass Torts
(DBN)

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Aviation:

Southwest, pilot union differ over causes for holiday meltdown
(DBN)

Flybe administrators in bid for temporary operating licence
(DBN)

Two lessors file applications to cancel Garuda Indonesia restructuring deal - court
(DBN)

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Retailing:

Bed Bath & Beyond closing more stores in new "turnaround plan" Bed Bath & Beyond's roller-coaster ride to potential bankruptcy Bed Bath & Beyond was a retail pioneer. Here’s what went wrong Half its size: Bed Bath & Beyond continues to shrink store footprint Last-minute funding buys Bed Bath & Beyond more time Wall Street bankers had to be talked out of liquidating Bed Bath & Beyond and throwing 30,000 people out of work, sources say Bed Bath & Beyond’s 30,000 Workers Were Key Factor in Last-Minute Deal
(DBN)

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Agribusiness:

US creditors announce bankruptcy proceedings against Odessa grain terminal owners
(DBN)

____________

Sports:

NFL Could UpEnd Diamond Sports Group Chapter 11 Bankruptcy Plans
(DBN)

The future of sports on TV is anything but clear right now
(DBN)

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Bicycles:

Parlee Cycles in trouble, files for bankruptcy
(DBN)

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Education:

What it's Like When Ron DeSantis Takes Over Your College
(DBN)

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Healthcare:

Study: No new Covid variants from China since zero-Covid policy lifted
(DBN)

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Movie Theaters:

Cineworld Lenders Weigh Rights Offering for Bankrupt Movie Chain
(DBN)

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Labor:

Starbucks Asked a COVID-Positive Employee to Work, Then Fired Him for Tweeting About It
(DBN)

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Cannabis:

Bankruptcy Doors Open a Little Wider to Cannabis Companies
(DBN)

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Banking:

Credit Suisse posts massive annual loss, CEO describes results as ‘completely unacceptable’ Wealthy Pulled $100 Billion from Credit Suisse Credit Suisse Clients Pull $120 Billion Amid Fifth Straight Loss Credit Suisse deep in red, warns of more losses Credit Suisse Bonus Pool Drops 50% After Worst Year Since Crisis
(DBN)

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Climate:

Bill Gates asked if he's a 'hypocrite' for flying on a private jet. See what he said
(DBN)

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UK:

Fury as thousands sign petition protesting bankrupt London council's 15% tax grab
(DBN)

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Russia:

China to EU: Drop calls for Ukraine’s ‘complete victory’
(DBN)

Zelenskyy pushes for fighter jets on visit to U.K.
(DBN)

'Strong Indications' Putin Supplied Missile That Downed MH17 Flight, Investigators Say
(DBN)

Russia Throws Soldiers Into Ukraine Firing Line to Gain Inches
(WSJ)

Russian forces are closing in on Bakhmut, putting Ukraine in a difficult position
(DBN)

Zelenskyy expected to ask for more support from EU leaders in his Brussels trip Zelensky Asks England for Fighter Jets
(DBN)

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China:

Pressure on China’s factories grows as U.S. demand falls
(DBN)

Chinese Consumers Hoard Cash After Confidence Takes a Hit
(WSJ)

China declined U.S. call after American missile popped spy balloon China Sends Spy Balloons Over Military Sites Worldwide, U.S. Officials Say Spy balloon offers worrying trial run for a bigger US-China crisis Spy balloon alarmed US officials by making its unexpected turn In Its Push for an Intelligence Edge, China’s Military Turned to Balloons Spy balloon confirms ‘pattern of Chinese behavior’ that poses threat to NATO members, Stoltenberg says
(DBN)

____________

Turkey:

The earthquake destroyed my hometown. Things are desperate Earthquake Survivors Now Risk Freezing to Death Death Toll from Turkey Quake Nears 17,000
(DBN)

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France:

Potential Impact on the French Legal System of the Draft EU Directive to Harmonise Insolvency Laws
(DBN)

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India:

NYU’s ‘Dean of Valuation’ says Adani Group exploited ‘weakest links’ in Indian institutions Adani: What Distressed US Hedge Funds Want From the Billionaire Investors privately talked about Adani issue; if they came out 5 years’ later, there'd be a bigger systemic risk: Rahul Chadha
(DBN)

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North Korea:

North Korea displays enough ICBMs to overwhelm U.S. defense system against them
(DBN)

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Brazil:

Americanas Accounting Scandal Was a 'Fraud,' Says CEO of Brazil's Itau Americanas’ $4B Accounting Scandal Puts More Scrutiny on PwC’s Auditing Record
(DBN)

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