January 24, 2023

The Daily Bankruptcy News

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Law:

Incessant, Bonkers Anti-Paul Hastings Protest Continues
(DBN)

Reed Smith asks to drop representation of former Baltimore state’s attorney after judge threatens sanctions
(DBN)

The Best Of Biglaw In Private Equity
(DBN)

Attorney-client privilege case dismissed by Supreme Court
(DBN)

Mercer Law School launches new bankruptcy program
(DBN)

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

Alexander Woolverton Joins Kramer Levin as Partner in the Bankruptcy and Restructuring Department
(DBN)

Orrick, Buckley Show Big Law Mergers Budding After Pandemic Drop
(DBN)

There's A Big Difference Between Lawyer Accolades You Pay For And Ones You Don't
(DBN)

Students At Top Law School Decide Ranking Their Female Classmates By Their Attractiveness Is Acceptable
(DBN)

Jury finds 4 Oath Keepers guilty of seditious conspiracy • More Oath Keepers found guilty of seditious conspiracy for role in Jan. 6 • Men Linked to Oath Keepers Guilty of Seditious Conspiracy in Historic Jan. 6 Trial • Capitol rioter who rested feet on desk in Pelosi's office found guilty on 8 counts • State Lawmakers' Efforts to Keep Jan. 6 Insurrectionists Out of Office Are Just Getting Started
(DBN)

Central Question as Georgia Inquiry Wraps: Will Trump Face Criminal Charges? • Judge to hold hearing over Georgia special grand jury report • Details of Trump's attempt to overturn defeat in Georgia could be released
(DBN)

Jury Selection Begins in Double Murder Trial of Disgraced South Carolina Lawyer Alex Murdaugh • Inside the Alex Murdaugh Defense: Visual Evidence, Experts, and an 'Essential' Stained T-Shirt
(DBN)

Ex-FBI official arrested over ties to sanctioned Russian oligarch
(DBN)

Comer asks Secret Service for visitor information from Biden’s Delaware home • Garland defends handling of Biden, Trump classified document probes • Both Sides Slam Biden Over Classified Documents • Legal, political strategy in letting FBI search Biden’s home
(DBN)

El Paso Walmart shooting suspect to plead guilty to federal hate crimes
(DBN)

The Monterey Park mass shooter was once a regular at the dance hall where he fatally shot 10 people, his ex-wife and the city's mayor say • 'It Was Primal Instinct': Hear From Man Who Disarmed Monterey Park Mass Shooter While Suspect Was Targeting Second Dance Hall
(DBN)

‘Disgruntled’ Farm Worker Accused of Killing 7 in Latest Mass Shooting Horror • Suspect held after another California mass shooting • Seven Dead in California's Third Mass Shooting in 8 Days
(DBN)

'No One Wanted to Step in': Fox News Weatherman Severely Beaten as Subway Riders Looked on
(DBN)

Prosecutors face obstacles in prosecution of Alec Baldwin and armorer for cinematographer’s death • 'Rust' Producers Escape Accountability
(DBN)

'Stupid Person Doing a Stupid Thing': Legal Experts Pan Reports That Prince Andrew May Try to Wriggle Out of Virginia Giuffre Deal
(DBN)

The US had 647 mass shootings in 2022. Here's the full list.
(DBN)

Police: 2 students dead, teacher hurt in Des Moines shooting
(DBN)

Hobbs continuing Ducey practice of sending migrants out of Arizona
(DBN)

He wanted a hitman to kill his wife and her boyfriend. The first hire scammed him, and the second one was an undercover federal agent.
(DBN)

In Tense Body Cam Footage, Officers Confront Elderly Woman Who Allegedly Shot Her Terminally Ill Husband
(DBN)

The Grand Old Duke Of York, He Had Ten Thousand Men. And Not One Of Them Able To Make Him See Reason.
(DBN)

For nearly 50 years, Ohio woman collected dead mother's VA benefits
(DBN)

S&P Global Sued for Firing Woman Who Complained About Boss’s Harassment
(DBN)

The Constitution Can’t Enforce Itself
(DBN)

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Judges:

SCOTUS justices were questioned but not implicated in Dobbs leak probe; some are concerned about double standard • Inside the Supreme Court Inquiry: Seized Phones, Affidavits and Distrust • Where the Supreme Court’s Dobbs leak investigation went wrong • Justices were not asked to swear under penalty of perjury that they didn’t leak Dobbs
(DBN)

New Brett Kavanaugh Documentary Set To 'Trigger Outrage' • Takeaways from Doug Liman's secret Brett Kavanaugh documentary at Sundance • How Doug Liman Directed a Brett Kavanaugh FBI Investigation Doc in Secret
(DBN)

Supreme Court finally issues first ruling of term
(DBN)

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Wall Street:

Stock futures dip after back-to-back gains on Wall Street
(DBN)

Morgan Stanley’s Wilson Says US Stocks Aren’t Pricing Weak Data
(DBN)

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Layoffs:

Nearly 20% of US Firms Expect to Reduce Headcount, Survey Shows
(DBN)

3M to Cut 2,500 Jobs as Outlook Signals More Turbulence
(DBN)

Spotify Seen Cutting Staff as Soon as This Week to Cut Costs • Spotify cuts 6% of its workforce — read memo CEO Daniel Ek sent staff
(DBN)

Crypto exchange Gemini lays off 10% of workforce in its latest round of cuts
(DBN)

Ford to Cut 3,200 Jobs in Europe, With Focus on Germany, Union Says
(DBN)

Memorial Sloan Kettering Layoffs Hit More Than 300
(DBN)

Yext to lay off 8% of staff
(DBN)

Maximus call center lays off 143 workers
(DBN)

Google’s Pichai Tells Staff Cuts Avoided ‘Much Worse’ Problems • Google CEO defends job cuts in animated town hall as employees demand clarity on process
(DBN)

A Google software engineer says it was a 'slap in the face' to find out he was laid off via email after 20 years at the company
(DBN)

I coach workers at Amazon and Google through layoffs. Here's what I tell those who've been let go and those left behind.
(DBN)

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Corporate Governance:

Billionaire activist investors are putting pressure on top CEOs who were once thought untouchable
(DBN)

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Education:

Christian School Principal Faces Slew of New Child Sex Charges After More Alleged Victims Found
(DBN)

Family of Ohio Student Killed in Alcohol-Fueled Frat Event Settle for 'Largest Payout' for Hazing by Public University in State History
(DBN)

Lawmaker targets librarians with legislation that could lead to jail or prison sentences
(DBN)

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Labor:

Railroads Offer Paid Sick Days, Schedule Changes to Retain Employees
(DBN)

Why labor's surging popularity isn't translating to union membership
(DBN)

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Climate:

Fine Print on Labor in US Climate Bill Complicates Rush for Tax Credits
(DBN)

Europe’s Biggest Pension Fund Issues Warning to Banks Over CO2
(DBN)

Wall Street Climate Tactic Called ‘Engagement’ Yields Results
(DBN)

Supply chain to support Biden’s offshore wind goals will cost at least $22.4B: report
(DBN)

Big winners from Biden's climate law: Republicans who voted against it
(DBN)

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Tech:

For Tech Companies, Years of Easy Money Yield to Hard Times
(DBN)

Twitter sued by crown estate over alleged unpaid rent on London HQ
(DBN)

Twitter Sued Over Failure to Pay Rent on San Francisco HQ
(DBN)

Supreme Court Seeks US Views on Texas, Florida Social Media Laws • Supreme Court punts on Texas, Florida social media cases on content moderation
(DBN)

Trump wants to ditch his deal to post first on Truth Social and return to Twitter, report says
(DBN)

Elon Musk's Faith In The People Of Twitter May Cost Him A Lot Of Money
(DBN)

ChatGPT passes Wharton Business School test: research paper • Microsoft investing billions in ChatGPT maker
(DBN)

Microsoft’s Stock-Market Halo Fades as Recession Doubts Creep In
(DBN)

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Economy:

US Business Openings on Yelp Reached Record Last Year
(DBN)

Yellen Sees ‘Very Helpful Signs’ on US Inflation Front
(DBN)

US Dollar Slips After Fed Officials Make Case for Slower Hikes
(DBN)

State Street CEO Warns a US Downgrade Could See Treasuries Drop
(DBN)

Why high egg prices remain at “unappetizing levels”
(DBN)

There’s a 61% chance of recession in 2023, economists say—what it means for you
(DBN)

Germany Still Years Away From Replacing Russian Gas Capacity • Russia’s Biggest Firms Bypass Wall Street to Service Debt Sold Before Sanctions • Former FBI Official Charged With Violating Russia Sanctions • 'The Big Guy': Ex-FBI Counterintel Chief Allegedly Received 'Concealed Payments' from Sanctioned Russian Oligarch Seen in Mueller Report • Europe Forecast to See Return of Milder Weather Next Week
(DBN)

Remote Work Saves Global Commuters 72 Minutes a Day, Study Finds
(DBN)

Are jerks more likely to get ahead at work?
(DBN)

LA Port Inbound Traffic Down 20% YoY in December
(DBN)

Is a discharge petition the debt default silver bullet? • Biden May Have to Act Unilaterally to Avoid Default, Khanna Says • McConnell is a key player in approaching debt ceiling fight • Warren: Republicans threatening to ‘wreck’ economy in debt ceiling battle to protect wealthy • Schumer calls on House GOP to unveil proposed spending cuts in debt ceiling negotiations • Senate GOP to McCarthy: Debt Fight is All Yours • Debt ceiling: 2011 showdown leaves lessons for Biden, GOP • Debt-Limit Fight Risks Early End to Fed Quantitative Tightening • If US Defaults, Six Millions Jobs Will be Lost
(DBN)

There is no US debt crisis
(DBN)

This guy made $150,000 a day, because Corporate America is out of control
(DBN)

Hedge Fund That Got China Right Sees Risk in US Credit, Stocks
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

1.51 million Total Housing Completions in 2022 including Manufactured Homes; Most Since 2007
(DBN)

The American town demolished for developments that never happened
(DBN)

ABC Capital has been under investigation by the Pennsylvania attorney general’s office for a year
(DBN)

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Municipalities:

Federal study calls for rooftop solar panels to meet Puerto Rican renewable energy goals
(DBN)

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Oil/Gas:

UK’s Petrol and Diesel Sales Eroded as Electric Vehicles Make Inroads
(DBN)

Ruby Pipeline exits bankruptcy
(DBN)

Ukraine war upended energy markets forever
(DBN)

The Energy Transition Confronts Reality
(DBN)

Have We Hit Peak Gasoline?
(DBN)

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Crypto:

Is There an Easter Egg in the Celsius Earn Accounts Opinion?
(DBN)

Can Crypto Debtors Claw Back Pre-Bankruptcy Transfers?
(DBN)

Testimony of Hilary J. Allen, U.S. Senate Committee on Banking, Housing, and Urban Affairs Hearing on 'Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers'
(DBN)

Genesis is trying to void Gemini Earn customers' claim over GBTC sale • Bankrupt Crypto Lender Genesis Optimistic It Can Resolve Creditor Disputes • Compound Labs Founder on Options for Genesis Creditors • Genesis Lawyer Has 'Some Measure of Confidence' in Creditor Resolution This Week • A Dive Into 0xd62, a Genesis OTC Wallet That’s Moving Money • Genesis Receives Court Approval of First Day Motions
(DBN)

Gemini Earn customers face potential $485M shortfall in Genesis bankruptcy case
(DBN)

Bankrupt crypto lender BlockFi wants the court to approve employee bonuses as it says the industry war for talent rages on • Bankrupt BlockFi plans to sell $160M Bitcoin mining hardware loans
(DBN)

Binance Acknowledges Storing User Funds with Collateral in Error
(DBN)

The Unknown Hedge Fund That Got $400 Million From Sam Bankman-Fried • Will FTX Turn Into a Regulatory Headache for Silvergate Capital or Signature Bank?
(DBN)

Crypto firms acted like banks, then collapsed like dominoes
(DBN)

Even ‘Sam Coins’ Have Soared in Crypto’s Swift $250 Billion Jump
(DBN)

Rescue plan chases missing crypto millions
(DBN)

Crypto’s New Bankruptcy Racket
(DBN)

New York Regulator Releases Guidance in The Event of Virtual Currency Insolvency • In case of insolvency, NYDFS encourages crypto companies not to combine user and corporate funds
(DBN)

FBI Says North Korea-Backed Groups Hacked $100 Million in Crypto
(DBN)

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Fraud:

Holmes Denies US Claim She Planned to Flee If Found Guilty
(DBN)

Musk testifies Saudis backed taking Tesla private before they backpedaled
(DBN)

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Politics:

Democrats tee up showdown with McCarthy on committee seats
(DBN)

Jeffries says GOP has “double standard” on committee assignments • Jeffries submits Schiff, Swalwell for Intel panel, forcing fight with McCarthy
(DBN)

Nancy Pelosi says age is not 'a positive thing' for Biden as the 80-year-old president ponders launching a reelection campaign
(DBN)

One of Trump’s biggest backers is refusing to endorse ahead of the 2024 GOP primary race
(DBN)

Franklin Graham says he won’t endorse Trump in GOP primary race
(DBN)

Even Democrats Are Now Critical of Biden Over Documents Fiasco • Biden takes bipartisan heat from lawmakers over latest classified docs
(DBN)

DeSantis: One of the reasons I banned Black history course is it includes ‘indoctrination’ on ‘queer theory’
(DBN)

‘Don’t Waste Your Time,’ RNC Tells Potential Debate Hosts
(DBN)

Elise Stefanik under fire from donors for suckering them in with George Santos endorsement • GOP Rep. George Santos should resign from Congress, NY voters say in new poll • Santos’s financial woes pile up, threatening his political career • Santos Partied in Drag Over Three Years • George Santos Was Inevitable for the GOP
(DBN)

M&Ms says it’s pulling its beloved ‘spokescandies’ after right-wing outrage
(DBN)

Delaware Democrat introducing DC statehood bill in Senate
(DBN)

Election deniers set sights on next target
(DBN)

Ohio GOP Accused of Taking $60M in Bribes
(DBN)

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Apparel:

Levi Analyst Downgrades Pile Up as Slowing Denim Demand Sparks Concern
(DBN)

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Healthcare:

57 percent support federal government ensuring universal health care: survey
(DBN)

FDA Lays Out Annual Covid Shot Plan Similar to Flu
(DBN)

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Coin-Counting:

Apollo-Backed Coinstar, Creditors Tap Advisers as Payments Near
(DBN)

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Religion:

Archibald: Time to call BS on the ‘Bible Belt’
(DBN)

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Autos:

Tesla's Problems Go Way Beyond Elon Musk
(DBN)

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D&O:

Coverage Precluded Where Claims Brought by Both Insured and Non-Insured Persons
(DBN)

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Food/Beverage:

Lakeside Produce files for bankruptcy
(DBN)

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New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (21 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)

Make-Whole:

Make-Whole Premiums in Bankruptcy: A Decision that Hertz Creditors
(DBN)

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Bankruptcy Strategy:

Sanofi v. Mallinckrodt: Delaware Decision Highlights Importance of Asset Sale Structures in Later Bankruptcy Proceedings
(DBN)

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Mass Torts:

Who Can Be A Future Claims Representative In The Third Circuit?
(DBN)

Boy Scouts selling off storied camps under pressure from sex-abuse claims, bankruptcy — and locals are worried
(DBN)

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Exemptions:

Ninth Circuit Affirms Bankruptcy Court’s Decision that Applicable Homestead Exemption is the One in Effect at the Time of the Bankruptcy Filing
(DBN)

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Sovereign Immunity:

Supreme Court Grants Certiorari to Determine Whether the Bankruptcy Code Waives Sovereign Immunity of Native American Tribes
(DBN)

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Consumer Finance:

Who Pays for Your Rewards? Indebted Cardholders, Paper Finds
(DBN)

Generation X carries the most credit card debt, study shows
(DBN)

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Hedge Funds:

Citadel’s $16 Billion Win Tops Paulson’s Greatest Trade Ever
(DBN)

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Furniture:

Serta Simmons Bedding files Chapter 11 bankruptcy protection • Mattress Maker Serta Simmons Files for Chapter 11 Bankruptcy • Serta Simmons Bedding Takes Decisive Actions to Strengthen Financial Position and Drive Long-Term Growth
(DBN)

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Retailing:

Retail CEO crisis: why the industry's top job is suddenly the hardest to fill
(DBN)

Bed Bath & Beyond Meme Stock Bounce Flops Toward Bankruptcy
(DBN)

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Student Debt:

DOJ Releases Guidance for Discharging Federal Student Loan Debt in Bankruptcy
(DBN)

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Sovereigns:

Ghana Eurobond Holders Fret Over Better Terms for Local Lenders
(DBN)

Yellen Criticizes China, Urges Headway in Zambian Debt Talks • Zambian president wants quick debt restructuring to aid recovery • Yellen urges Zambia debt restructuring after talks with China
(DBN)

India commits to help Sri Lanka on debt in prospective IMF program • China offers Sri Lanka debt moratorium, IMF help still in doubt
(DBN)

Cuba begins London court battle over unpaid Castro-era debt
(DBN)

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UK:

Number of UK Firms Facing Collapse Jumps by Over a Third
(DBN)

UK Businesses Signal Output Fell at Sharpest Pace in Two Years
(DBN)

Pound Tumbles, UK Bonds Lead Rally on Darkening Economic Outlook
(DBN)

UK Deficit Soars to Record as Inflation Boosts Debt Payments
(DBN)

UK Ambulance Staff Stage Biggest Strike Yet as Unions Join Forces
(DBN)

Britain’s NHS Black Hole Is Devouring the Whole Country
(DBN)

UK Grid Set for Emergency Measures to Fight Power Squeeze • UK Asks Households to Reduce Power For Second Day as Wind Fades • UK Energy Watchdog Calls for Urgent Action on Social Tariff
(DBN)

Londoners Escape Worst of Inflation Crisis With Big Pay Hikes
(DBN)

Freezing Weather Sends Some UK Workers Back to the Office
(DBN)

____________

EU:

Europe Is Bracing for a Sharp and Abrupt Real Estate Reversal
(DBN)

ECB Will Stay Course to Return Inflation to 2%, Lagarde Says
(DBN)

Euro-Area Consumer Confidence Rises to Highest in Nearly a Year
(DBN)

____________

Canada:

Saving the Farm: A Comparative Analysis of the Farmers' Creditors Arrangement Act in Manitoba and Ontario
(DBN)

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Germany:

Germany ‘More or Less’ Stagnated in Late 2022, Bundesbank Says
(DBN)

German Government Expects Economy to Grow by 0.2% This Year
(DBN)

____________

Russia:

Sweden Shouldn’t Expect Turkey Support in NATO Bid, Erdogan Says • Erdogan says Turkey won’t support Sweden’s NATO bid • Sweden Has Fulfilled Agreement With Turkey on NATO Bid, Foreign Minister Says
(DBN)

Russia's new top general in Ukraine is fixated on getting soldiers to shave more often, sparking derision among its military, UK intel says
(DBN)

McCaul calls for US to take first step on heavy tanks for Ukraine • Poland to ask for Berlin's permission to deliver German-made tanks to Ukraine • Sen. Lindsey Graham said he's 'tired of the s*** show' and that the US and Germany should send tanks to Ukraine: 'World order is at stake' • Germany resists intense pressure over tanks for Ukraine • German Indecision on Supplying Tanks to Ukraine Sows Discontent
(DBN)

‘This is not a moment to slow down:’ U.S. says Ukraine making new gains
(DBN)

Russia’s ‘Elite’ Shadow Army Edges Into Complete Collapse • Putin's favorite mercenary leader may be preparing to justify a failure in Ukraine
(DBN)

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MENA:

Israeli Economy in Danger, Central Bank Panelist Says After Resignation
(DBN)

US announces more sanctions on Iran over deadly crackdown on protests
(DBN)

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India:

Many NCR projects in bankruptcy court, IBC changes key for homebuyers
(DBN)

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Brazil:

Brazil development bank BNDES to collect debt from Americanas after bankruptcy filing
(DBN)

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France:

Macron Plows Ahead With Pension Reform as More Protests Loom
(DBN)

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Ireland:

Up to 100 businesses tipped for new insolvency regime this year
(DBN)

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Japan:

Japan warns of dire finances as BOJ struggles to contain yields
(DBN)

TEPCO seeks to raise household power prices by 30% from June
(DBN)

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Mexico:

DEA Had Evidence on Mexico's SM for Years
(DBN)

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