January 13, 2023

The Daily Bankruptcy News

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Due to the Martin Luther King holiday, The Daily Bankruptcy News will not publish on Monday, January 16, 2023



Law:

Biglaw Firm Facing Lawsuit Over Hack Of Client Data SEC sues Covington for names of nearly 300 clients affected by 2020 cyberattack
(DBN)

What do we call a lawyer? A look at attorney titles
(DBN)

Lawyers Just Aren't Working As Many Hours As They Used To
(DBN)

2023 outlook: Slower economy will pressure GCs to cut spend, operate more efficiently
(DBN)

Bankruptcy judge suspends lawyer for ‘bizarre gamesmanship,’ urging clients to infect trustee with ‘nasty disease’ Attorney Sanctioned For Advising Clients To Spread COVID-19
(DBN)

A Cleveland law firm fired a lawyer over his text to a female attorney accusing her of ‘collecting a salary from the firm while sitting on your ass’ during maternity leave
(DBN)

Diversity increases among associates, but ‘we are nowhere near’ expected progress at partner level, NALP president says
(DBN)

What's The Matter (With Associates)?
(DBN)

LawyerUp! Revolutionary job app matches you with top firms
(DBN)

'Girls Can’t Get Rich Playing Sports,' And Other Reasons I Became An Attorney
(DBN)

AI program earned passing bar exam scores on evidence and torts; can it work in court?
(DBN)

Nashville Is Biglaw's New Hot Spot
(DBN)

Twitter Taps Mid-Level Lawyers After Cutting Top Legal Jobs
(DBN)

Ex-Personal Injury Lawyer, Who Cheated Clients Out of Millions to Fund Nudist Resort and African Big Game Hunt Trips, Sentenced
(DBN)

Jan. 6 Couple Tried to Use Sovereign Citizen Defense. It Did Not Go Well. The Val Kilmer Lookalike Who Stormed the Capitol Has Finally Been Identified White House confirms Biden aides located Obama-era classified documents at two locations in Wilmington home Prosecutor: Proud Boys attacked ‘heart’ of democracy on 1/6 ‘Lords of war’: DOJ lays out case that Proud Boys leaders led Capitol breach Proud Boys Vowed ‘Any Means Necessary’ to Keep Trump in Power, Jury Told Capitol riot trial starts for man with feet on Pelosi desk Proud Boys sedition trial marked by courtroom drama, fighting Alex Jones Attorney Tries to Bow Out of Proud Boys Jan. 6 Case 'They Did Not Stand By': Proud Boys Jan. 6 Seditious Conspiracy Trial Kicks Off With Opening Statements Proud Boys leader blames The Don for Jan. 6
(DBN)

Donald Trump's longtime money man, Allen Weisselberg, quickly gets coveted cot in 'safest place' at Rikers Donald Trump's Company to Be Sentenced for 15-Year Tax Fraud
(DBN)

Special counsel subpoenas, grand jury appearances mount for Trump allies
(DBN)

Classified Biden docs found in Biden's Delaware garage next to Corvette It took at least 48 days for Joe Biden to find and declare all the classified material at his residence and former office Biden is in a Hole of His Own Making The stunning new twist in the Biden documents saga Biden Says Classified Documents Were in Locked Garage With His Corvette Biden says classified document found in ‘personal library’ Biden Says Not Like Documents Were ‘Sitting Out in the Street’ Source: Biden team finds more docs with classified markings Multiple Biden aides have been interviewed by federal law enforcement in classified document review Special counsel will oversee Biden docs investigation Special Counsel to Take Up Joe Biden Classified Documents Probe Garland Names Special Counsel to Oversee Biden Documents Probe Who Is Robert Hur? Meet Robert Hur, the BigLaw partner and former Trump-era prosecutor who is special counsel in Biden documents probe White House ‘confident’ Biden documents were ‘inadvertently misplaced’ Timeline of Biden classified document discoveries GOP races to suggest Trump equivalency in Biden-linked classified docs A big distinction may explain why the FBI searched Trump's home but not Biden's over classified documents A tale of two men and their classified documents Politics or by-the-book? Investigating Biden’s classified documents Everything We Know About Biden’s Classified Documents Discovery So Far
(DBN)

Special counsel seeks information on who is paying Trump orbit legal bills as investigation intensifies
(DBN)

Bannon Battles It Out in Border Wall Case — With His Own Lawyers Steve Bannon Develops Convenient Allergy To His Counsel, Delaying Trial In Border Wall Scam
(DBN)

Georgia lawmakers push back on testifying in Trump probe
(DBN)

Trump Firm’s Criminal Punishment Carries Threats Beyond Sentence
(DBN)

Bryan Kohberger Ex-Lawyer Confident There’s More Evidence in Idaho Killings All the errors that got Bryan Kohberger caught for Idaho student murders Idaho victim seen speaking with cops 3 months before murders A subdued Bryan Kohberger waived his right to speedy court appearance at second hearing in an Idaho courthouse Idaho Quadruple-Murder Suspect Bryan Kohberger to Remain in Custody Without Bail After Court Appearance
(DBN)

How Illinois played ‘tough politics’ on guns
(DBN)

Texas Man Allegedly Pointed Gun at Migrants, Said He 'Was Doing it For America'
(DBN)

Next frontier in the abortion wars: Your local CVS Alabama Just Said It Will Use Drug Laws to Prosecute Women for Taking Abortion Pills House passes 'born alive' abortion bill Virginia bill would count a fetus as a car passenger in HOV lanes The abortion clinic at the center of the Supreme Court ruling will become a secondhand store
(DBN)

CVS sued by a fired nurse practitioner who refused to prescribe birth control due to her religious beliefs
(DBN)

A man said he was 'very sorry' after he was caught on video spraying an unhoused woman with water
(DBN)

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Judges:

 

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Wall Street:

U.S. stock futures mostly steady as Bank of America, JP Morgan and other big financial names get ready to kick off earnings season
(DBN)

Goldman Lost $1.2 Billion in Just Nine Months in Newest Division
(DBN)

Wall Street’s biggest bear: Fed’s Jerome Powell
(DBN)

BofA Strategists Say US Stocks Set For 10% Drop Before Later Rally
(DBN)

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Layoffs:

Crime App 'Citizen' Lays Off Dozens of Employees
(DBN)

Crypto Firms Are Cutting More Than 1,600 Jobs Already This Year
(DBN)

Crypto.Com Cuts 20% Jobs Amid 'Unforeseeable' Industry Events
(DBN)

LendingClub to Cut 225 Workers, Take Charges of $5.7 Million
(DBN)

Vodafone Said to Plan Hundreds of Job Cuts in Cost-Cutting Drive
(DBN)

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Healthcare:

Fitch Sees Grim Outlook for Hospital Sector This Year
(DBN)

A Million Texans About to Lose Health Care
(DBN)

Sitting too much is bad for your health, but offsetting the impact is easy, study shows
(DBN)

US cancer death rate falls 33% since 1991, report says
(DBN)

Two Illinois EMS workers charged with murder in death of patient strapped face-down on stretcher
(DBN)

Some workers at U.S. hospital giant HCA say it puts profits above patient care
(DBN)

Childhood Immunizations Decline, Raising Concerns Over Hesitancy
(DBN)

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Retailing:

Retail Apocalypse Part II?
(DBN)

Bed Bath & Beyond’s Potential Bankruptcy, Explained Bed Bath & Beyond is in the midst of a massive short-squeeze as bearish traders play game of chicken with potential bankruptcy Bed Bath & Beyond is closing more stores. What is lost? Bed Bath & Beyond Stock: Even Bankruptcy Threats Can't Stop a Short Squeeze Bed Bath & Beyond begins talks on bankruptcy loan, takeover
(DBN)

‘Mass extinction event’ feared as beleaguered retailers shut up shop across the US with 304 iconic stores set to close
(DBN)

Video shows frustrated Walmart customer finding security tags and a lock box guarding $8 mascara as the retailer steps up anti-theft measures
(DBN)

Beauty Retailer Morphe’s Parent Company Files for Chapter 11 Beloved major retailer files for bankruptcy after quietly shuttering all its stores
(DBN)

Lemann-Backed Retailer Americanas Loses CEO on $4 Billion ‘Inconsistencies’
(DBN)

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Autos:

Electric cars are killing the car dealership as we know it
(DBN)

Tesla has slashed the prices of its Model 3 sedan and Model Y SUV between 6% and 20% in the US, as it reverses strategy after demand tapers Tesla Slashes Prices in US to Qualify Models for Tax Credit
(DBN)

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Education:

Mass Teacher Exodus Weighs Down State, Local Jobs Recovery
(DBN)

The 12 most useless college majors, according to career experts
(DBN)

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Telecoms:

Avaya discusses bankruptcy that would give lenders control
(DBN)

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Water:

Not Enough Water to Build New Arizona Homes
(DBN)

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Economy:

BLS: CPI decreased 0.1% in December; Core CPI increased 0.3% Cleveland Fed: Median CPI increased 0.4% and Trimmed-mean CPI increased 0.4% in November Consumer prices rose 6.5 percent in December as Fed mulls next rate hike Consumer prices fell in December as inflation continues to cool Inflation cooled in December to 6.5%, but the Fed is likely to keep interest rates high US inflation eases grip on economy, falling for a 6th month Biden Says Economic Plan ‘Working’ as Consumer Prices Ease
(DBN)

Why the stock market isn’t impressed with the first monthly decline in consumer prices in more than 2 years
(DBN)

Inflation is easing, but the prices of some grocery items are expected to soar in 2023 — including one whose price has risen nearly 60% over the past year Can You Find Eggs Here or There? Can You Find Them Anywhere?
(DBN)

Here are the cities where inflation is rising the most Miami Overtakes Phoenix as US Inflation Hotspot in December
(DBN)

America's inflation turnaround
(DBN)

Cooler Inflation Mixed With Strong Labor Data Leaves Traders Puzzled
(DBN)

Wharton professor Jeremy Siegel predicts the Fed will end its interest-rate hikes this month - and stocks will surge 15% next year
(DBN)

Fed’s Barkin Says Appropriate to Raise Rates ‘More Deliberately’
(DBN)

Swaps Show Small Chance That Fed Won’t Hike at All in March
(DBN)

Fed on Track for Rate-Hike Downshift After Cool Inflation Data
(DBN)

Fed’s Bullard Favors Getting Rates Above 5% ‘as Soon as Possible’
(DBN)

Fed’s Harker Supports 25 Basis-Point Hikes ‘Going Forward’
(DBN)

Weekly Initial Unemployment Claims decrease to 205,000
(DBN)

What’s worse than a recession? A recession with tax hikes
(DBN)

Biden administration warily planning for debt ceiling showdown US Budget Gap Hits $421 Billion, Setting Stage for Debt-Limit Fight ‘Doomsday Clocks’ Likely Needed Before Congress Hikes Debt Limit
(DBN)

GOP divisions over Social Security, Medicare cuts forecast tough fights ahead
(DBN)

Like working from home? Some companies say enough is enough.
(DBN)

Unlimited Time Off Is Often Better for Employers Than Employees
(DBN)

Low-income people reported fewer symptoms of anxiety, depression after receiving expanded child tax credit
(DBN)

‘Taxachusetts’ Revived in New England After Millionaire Surtax
(DBN)

Goldman and JPMorgan Diverge on Response to Richest Russian’s Sanctions Where Will Europe Get Its Diesel From in 23 Days’ Time? Putin's war in Ukraine has made Russia a 'liability' whose few friends are 'hardly at the top' of anyone's wishlist'
(DBN)

US Reshoring of Supply Chain to Be Limited by Costs, Studies Say
(DBN)

News Corp. CEO Urges Staff to Return to Work for ‘Body Language’
(DBN)

Some California tech firms post wide pay ranges in wake of new law
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Most of America thinks it’s a bad time to buy a home. Expect a ‘continued decline in home sales,’ Fannie Mae says.
(DBN)

Current State of the Housing Market; Overview for mid-January
(DBN)

Mortgage Rates Fall to 6.33% in Biggest Drop Since Early December
(DBN)

Lawler: Freddie Mac “National” Home Price Index Down Again in November; Rents Continued to Slide
(DBN)

The housing market is showing signs of ‘normalizing’
(DBN)

Bank to pay $31M redlining settlement, largest in US history
(DBN)

KB Home Sends Warning for Builders’ Stocks With Orders Miss
(DBN)

Six Tips for Lenders Foreclosing a Shopping Center
(DBN)

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Municipalities:

Most state and municipal pension plans are labeled 'distressed or fragile'
(DBN)

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Oil/Gas:

Exxon scientists predicted current climate change 40 years ago: study Exxon’s Secret Climate Projections Were Highly Accurate, Study Says
(DBN)

Chinese Oil Demand Seen Hitting Record on Covid Zero Pivot House Votes to Block China from Buying Oil from US Reserves
(DBN)

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Food/Beverage:

A Dallas restaurant group is getting hit with scathing reviews over a 3% fee to fund employees' healthcare and time off — but it's part of a growing trend
(DBN)

A restaurant owner who's been a victim of wage theft took tips and overtime worth $94,000 from 31 workers, DOL finds
(DBN)

Cheaper Bacon and Flour Prices Help to Cool US Food Inflation
(DBN)

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Climate:

2022 was fifth or sixth warmest on record as Earth heats up
(DBN)

Monterey Peninsula could become an island as epic flooding engulfs much of California Surging rivers highlight a big dam problem for California Storms relentlessly hit California; Oakland soaked with year of rain in span of months 98% in California Don't Have Flood Insurance
(DBN)

Welcome to the era of weather whiplash
(DBN)

A Snowless Davos Tells the World’s Elite All They Need to Know
(DBN)

Disasters to Weigh on Australia Economy After $3.5 Billion Hit
(DBN)

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Politics:

Trump prepares to open next phase of 2024 campaign in South Carolina
(DBN)

See Santos' odd resume touting '3.89 GPA,' doubling revenue at Goldman Sachs How the George Santos scandal could finally end George Santos lied about being a 'star' college volleyball player at the university he lied about attending, Nassau GOP chairman says Local N.Y. GOP calls for Santos' 'immediate resignation' The 6 possible ways Rep. George Santos' situation gets resolved George Santos' deceit shows why you shouldn't lie on your résumé U.S. Rep. Santos opens door to resignation - 'if 142 people 'ask' Rep. George Santos was paid by a company the SEC called a 'classic Ponzi scheme' but never disclosed the payments as a candidate, report says George Santos Staffer Predicts What's Next For The Embattled Republican Santos: 'I've lived an honest life'
(DBN)

What Hunter Biden told Kevin McCarthy’s mom at White House state dinner
(DBN)

Whisper campaign about RNC chair candidate’s Sikh faith roils campaign
(DBN)

The next critical race theory fights
(DBN)

CBO Warns on GOP Slashing IRS Budget
(DBN)

Alabama official indicted on voter fraud charges, accused of ballot stuffing in Democratic primary
(DBN)

Pennsylvania's GOP-Controlled Legislature Trying to Impeach DA Larry Krasner Failed to Show 'Misbehavior in Office,' Court Finds
(DBN)

Feds announce election fraud charges against Iowa candidate’s wife who cast 23 ballots
(DBN)

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Celebs:

Todd Chrisley says fraud convictions have brought him and wife Julie closer together as they prepare for prison Todd and Julie Chrisley Denied Bail
(DBN)

Musk Says 82% of San Francisco Jury Pool Views Him Negatively
(DBN)

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Entertainment:

WWE retains restructuring specialist Kirkland & Ellis as adviser for strategic review
(DBN)

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Hotels:

UK firm to buy Moskovits, Lichtenstein’s Williamsburg Hotel for $96M
(DBN)

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New Bankruptcy Opinions
(7 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (8 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (3 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)

Jurisdiction:

Fifth Circuit Rules Just Energy Bankruptcy Court Erred in Exercising Jurisdiction to Redetermine ERCOT Pricing During Winter Storm Uri Bankruptcy Courts Lose Ground Amid Texas Electricity Rate Ruling
(DBN)

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Bankruptcy Alternatives:

In tough economy, assignments in lieu of bankruptcy could grow
(DBN)

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Aviation:

New pilot contracts to drive up costs at U.S. airlines
(DBN)

Delta Forecasts First-Quarter Profit Below Wall Street Estimates
(DBN)

FAA is years away from upgrading the system that grounded all US flights The software blamed for FAA outage is three decades old FAA Computer Failure Caused by Personnel Who Damaged Data File
(DBN)

Factbox-Countries mandate COVID tests for China travelers
(DBN)

Airline SAS rejigs contracts with two more aircraft lessors in fight to slash costs
(DBN)

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Crypto:

Not Your Keys, Not Your Coins: How to Stay Safe in ‘Wild West’ of Crypto
(DBN)

Sam Bankman-Fried says FTX International had $8 billion in assets when new CEO took over and a 'very substantial recovery' is still possible Bankman-Fried says millions of FTX customers could get money back Sam Bankman-Fried says both FTX and Alameda were raking in billions in profits in 2021 before token values plunged in crypto winter Sam Bankman-Fried's trading firm borrowed $65 billion from FTX via a 'secret backdoor' to fund donations and a luxury lifestyle, bankruptcy court hears Sam Bankman-Fried Launches Substack: ‘I Didn’t Steal Funds’ ‘I didn’t steal funds,’ FTX founder Bankman-Fried says in unusual post-arrest blog post Bankman-Fried Says He ‘Didn’t Stash Billions’ as He Denies Theft Crypto community unimpressed by SBF’s lengthy Substack letter Sam Bankman-Fried's parents, who bought him a dog while he's under house arrest, are some of the only people he still speaks to. Here's what we know about the Stanford Law professors. ‘I was forced to declare Bankruptcy, I didn’t steal Funds’ – FTX Founder Sullivan & Cromwell’s role in FTX bankruptcy under rising scrutiny Bill Ackman doubles down on Sam Bankman-Fried defense: ‘I am just presuming he is innocent unless and until he is proven guilty’. Sam Bankman-Fried launches a newsletter to defend himself Japan Expects Local FTX Clients to Get Funds Back From February FTX Cleared to Sell LedgerX, Japanese Units by Bankruptcy Judge Major media want answers: Who guaranteed Bankman-Fried’s $250M bail? Sam Bankman-Fried says tweets from Binance's CEO in November were a 'targeted attack' on Alameda's assets FTX Pre-Mortem Overview
(DBN)

Sam Bankman-Fried Says Law Firm Worked Closely With FTX Before Bankruptcy
(WSJ)

Crypto Lender Genesis Owes Creditors Over $3B SEC charges crypto firms Genesis, Gemini with selling unregistered securities Winklevoss slams SEC charges against Gemini as a ‘super lame ... manufactured parking ticket’ Gemini and Genesis charged in US over crypto lending programme
(DBN)

Singapore Crypto Firm Hodlnaut’s Creditors Seek its Liquidation
(DBN)

Crypto Lenders Morph Into Miners as Repossessed Rigs Pile Up
(DBN)

Coinbase Legal, Compliance Ranks Thinned as Part of 20% Cutback
(DBN)

A Gambling Tycoon and Two British Lords Team Up for £10 Billion Crypto Lawsuit
(DBN)

Crypto and Football Don’t Mix, and Now We Have Proof
(DBN)

Insurers Beware of “Silent Crypto” Exposure
(DBN)

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Fraud:

JPMorgan sues fintech founder for fraud
(DBN)

JPMorgan shuts down college-aid site Frank amid legal dust-up
(DBN)

Sick house: Florida man gets 8 1/2 years for using Covid relief to buy lavish 12-acre estate, fleet of luxury cars
(DBN)

Saudi Wealth Fund Chief Refuses to Testify at Musk’s Tesla Fraud Trial
(DBN)

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Maritime:

World Marine Offshore Files For Bankruptcy World Marine Offshore crashes into bankruptcy
(DBN)

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Labor:

Amazon Labor Union Certified by U.S. Labor Officials
(DBN)

Big labor’s attacks on the gig economy are anti-worker
(DBN)

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UK:

UK and EU Aim for Final Deal to End Brexit Clash in Fresh Talks How Far Apart Are the UK and EU on a Brexit Deal?
(DBN)

UK Could Face Its Worst Banking Crisis
(DBN)

Gupta’s Liberty to Cut UK Output and Idle Sites on Energy Costs
(DBN)

England Heart Attack Patients Wait 93 Minutes for an Ambulance
(DBN)

U.K. economy unexpectedly expands in November despite persistent cost-of-living pressures
(DBN)

UK Economy Performing Better Than Expected But Unlikely to Avoid Recession
(DBN)

Lurid new 'partygate' details imperil Boris Johnson comeback
(DBN)

Inflation Hits London Barber Shops With the £100-Plus Haircut
(DBN)

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Northern Ireland:

Update on new guidance for creditors’ winding up petitions in Northern Ireland
(DBN)

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Russia:

Russian Invasion Upends Life for Ukrainian Lawyers, a Year Later
(DBN)

In Ukraine, power plant workers fight to save their ‘child’
(DBN)

Notorious Russian arms dealer freed in Brittney Griner exchange awkwardly backs out of pledge to fight in Ukraine
(DBN)

Russia could expand draft age as soon as this spring - lawmaker
(DBN)

Putin burns through another top Ukraine commander as armed forces chief is handed ‘poisoned chalice’
(DBN)

US Navy veteran released from Russian custody
(DBN)

Sweden rejects four extradition requests from Turkey - report Turkey Summons Swedish Envoy, Warns Over NATO Membership Bid
(DBN)

Russia Says Its Forces Capture Soledar In East Ukraine
(DBN)

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India:

IBC valuations may spike with proceeds of avoidable transactions
(DBN)

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Brazil:

Brazil rioters plotted openly online, pitched huge ‘party’ Congress Ramps Up Pressure to Kick Out Bolsonaro as US Bides Time Lula to purge Bolsonaro loyalists from Brazilian security forces after rampage Lula's Ties With Military Are Strained by Crackdown on Rioters
(DBN)

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Australia:

The intersection of secular and orthodox laws in the bankruptcy context
(DBN)

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China:

Satellite images hint at Covid outbreak's true toll in China Covid Wave May Last Three Months, China CDC Veteran Warns COVID-Ravaged Chinese Public Is Desperate for Paxlovid
(DBN)

IMF Chief Urges China to Stay the Course on Reopening Economy
(DBN)

China Posts Record Trade Surplus for 2022 Despite Slowing Demand
(DBN)

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Germany:

German economy seen stagnating in Q4, grew 1.9% in 2022 German Recession Fears Retreat Amid Surprise Year-End Stagnation
(DBN)

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Sweden:

Sweden’s Inflation Rate Tops 10% for the First Time Since 1991
(DBN)

Sweden Erases Much of the Pandemic Gain in Housing Market Rout
(DBN)

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The Daily Bankruptcy News is primarily a curated news link gathering service.   Most of the headlines contained in the publication are a collection of links to stories posted on the Internet by various third party publications.  Such content is owned by third party sources, not The Daily Bankruptcy News, and in some cases, these links change or expire, which means you may not be able to view some news stories in prior editions of the Daily Bankruptcy News. The DBN subptption fee is not a fee for access to the content of the links, but is a charge for the considerable work involved in gathering, organizing and presenting the links. Use of this site and The Daily Bankruptcy News is subject to our Terms of Use. If you received The Daily Bankruptcy News via email (and you have a paid subscription account), to view a news story, click on the headline, and the story should open in your web browser. To view additional stories, click back to the email and click on additional headlines, which will cause new stories to open in your web browser.  You can view the most recent edition of The Daily Bankruptcy News on the web at BKInformation.com.

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