January 25, 2023

The Daily Bankruptcy News

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3-Column Formating

 

Law:

The Firms With Biglaw's Biggest Bonuses
(DBN)

Gibson Dunn Adds Bankruptcy Litigation Partner Lee Wilson in New York
(DBN)

Law is the most stressful profession, newspaper's analysis finds Stressed As A Lawyer? Maybe You Should Consider Another Profession.
(DBN)

Firms are employing burnout advisers to keep their attorneys from getting overwhelmed
(DBN)

Biglaw Firm Plans To Let Associates Bill For Being On Vacation
(DBN)

Smith Gambrell Russell and Freeborn & Peters to Combine, Creating Global AmLaw 150 Firm
(DBN)

Biglaw Managing Partner Ditches Firm Life To Aid Refugee Children
(DBN)

A lawyer's passion for pets prompts career switch
(DBN)

Is crypto payment a good deal for law firms?
(DBN)

We’re Still Mad, Actually: An Open Letter To The Legal Profession From A COVID-19 Bar Examinee
(DBN)

Slow Going: Despite diversity gains, some law firm leaders bemoan lack of progress
(DBN)

8 types of clients you must manage in your legal practice
(DBN)

Untangling Expansive Cast of Characters in Alex Murdaugh Murder Case
(DBN)

Jones Day Reshuffles Corporate Team Under New Leader Shumaker
(DBN)

4 Dogmas Debunked: How to frame a legal issue, Part I
(DBN)

Could hybrid work and generational shifts finally kill email?
(DBN)

No, Lawyers Aren't Doing Any Cult-Like Chanting During Cravath Partner Funerals
(DBN)

Law Schools Where Starting Salaries For Graduates Exceed Their Student Debt
(DBN)

Meet the Law Schools Leading the Way in Innovation
(DBN)

Family of LA public defender jailed in Venezuela plead for help
(DBN)

Biglaw Firm Lashes Out At Ex-Exec And Calls Out 'Facially Absurd' Story Judge hands Proskauer an early win in ex-COO data theft lawsuit
(DBN)

US court gives $153 million to Miami lawyer jailed in Venezuela
(DBN)

I'd Expect To See This Fact Pattern About Elon Musk In A Property Law Hypo, But The Newspaper?
(DBN)

Classified documents found at Pence's Indiana home Senators bewildered by Pence classified document revelation Pence documents complicate GOP attack lines on Biden Classified records found at Mike Pence's home — months after he denied having any Mike Pence Tries To Get Back In Trump's Graces By Admitting That He, Too, Pocketed Classified Documents What to know about classified documents after high-profile discoveries White House tells House GOP probing Biden documents that it will cooperate with 'legitimate oversight' Biden’s Handling of Secret Documents Complicates the Case Against Trump
(DBN)

US Secrets Land in All the Wrong Places as Presidents Ignore Honor System
(DBN)

Things Are Looking Pretty Weird for Merrick Garland
(DBN)

Georgia DA investigating Trump for election meddling says decisions are imminent Georgia DA notes ‘imminent’ charging decisions in seeking to shield grand jury report Atlanta district attorney pushes to keep Trump election report secret Georgia election probe report to remain secret for now
(DBN)

Pizzeria Owner Who Said Nancy Pelosi Needed to 'Hang' Convicted of Jan. 6 Charges Time-Served Sentence for Jan. 6 Rioter Linked to Sicknick Assault Will Promote 'Respect' of Law: Feds 'Be a Patriot, Get My Flag': Police Bodycam Footage of Convicted Rioter Inside Nancy Pelosi's Office Released
(DBN)

Trump Walks Away From Another Suit Challenging NY Fraud Probe
(DBN)

Abramovich’s Jersey Tax Haven Probe Saw Police Raid Lawyer’s Home, Company
(DBN)

The U.S. has had at least 39 mass shootings in just 24 days so far this year, data shows New year brings a grim wave of mass killings across America Half of U.S. mass attacks sparked by personal, workplace disputes -report
(DBN)

Why California’s strict gun control laws didn’t stop the Monterey Park shooter Newsom renews call for federal action on gun safety after 2 mass shootings in California
(DBN)

What the data reveal about the Monterey Park and Half Moon Bay mass killings
(DBN)

At least 3 dead in Yakima, Washington, shooting as search for suspect continues
(DBN)

At least 18 dead in 3 days in a brutal wave of gun violence in California
(DBN)

Texas man gets 35 years for killing ‘innocent stranger’ he mistook for thief
(DBN)

The Monterey Park shooting exposes a major problem with crime data
(DBN)

2 Memphis fire department personnel 'relieved of duty' in connection to Tyre Nichols' death
(DBN)

Idaho murder suspect had a job interview with the police department that later helped arrest him, report says
(DBN)

Man dies after dog steps on rifle, causing it to discharge, Kansas officials say
(DBN)

Father Gets Snippy At Judge During Hearing on Charges After 3-Year-Old Allegedly Shot Himself in Head
(DBN)

Alec Baldwin’s criminal charges and Rust’s chaotic production, explained
(DBN)

Prince Andrew accuser Virginia Giuffre signs memoir deal worth 'millions': sources
(DBN)

S Dakota Gov. Noem threatens charges for abortion pills Aftershocks: Navigating the morass of state abortion laws post-Roe States look to California’s blueprint for a post-Roe world New York lawmakers to codify abortion rights in state constitution, sending it to voters
(DBN)

Florida joins 19 states to challenge Biden’s new immigration program
(DBN)

Women's Rights Soon To Be On The Ballot In New York
(DBN)

6 slapped with domestic terrorism charges after violent Atl. protests
(DBN)

Woman Gets 15 Years For Paying Undercover Fed $5,000 'Downpayment' to Assassinate Husband in Murder-For-Hire Plot
(DBN)

Attorneys for Family of Tyre Nichols Say Memphis Police Acted Like He Was 'Human Piñata'
(DBN)

Texas sues to stop Biden immigration parole program
(DBN)

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Judges:

New tips surface after Kavanaugh documentary is unveiled at Sundance
(DBN)

$2.1M IRS civil penalty for unreported Swiss bank account merits SCOTUS review, Gorsuch argues
(DBN)

Pete Davidson Seems To Be Ditching Ruth Bader Ginsburg Tattoo
(DBN)

SCOTUS’s First Decision of the Term Is a Unanimous Blow to Disabled Veterans
(DBN)

How the Voting Rights Act ended up back at the Supreme Court
(DBN)

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Wall Street:

Dow futures drop 200 points, Microsoft falls after earnings
(DBN)

Legendary investor Jeremy Grantham says the stock market could crash 50% this year as the bubble enters its 'final phase'
(DBN)

NYSE Gets Wave of Sell Orders, Unleashing Stock-Market Chaos
(DBN)

The bear market in stocks is 'on thin ice' as improving technicals challenge the narrative that a recession is near, Fundstrat says
(DBN)

The dominoes are still falling in the stock market, and pain isn't fully priced in as earnings outlooks get slashed at the fastest pace since 2009, RBC strategist says
(DBN)

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Layoffs:

WARNing in New Jersey (2023 Update)
(DBN)

3M to cut 2,500 jobs, stock falls on Q4 earnings miss
(DBN)

Washington Post starts anticipated layoffs
(DBN)

Wall Street reportedly preps for biggest round of layoffs since 2008
(DBN)

Vacasa Slashes 1,300 Jobs in Second Recent Round of Layoffs
(DBN)

Delphi Behavioral Health Group to lay off over 100 workers and shut down 4 facilities
(DBN)

Hudson's Bay to shed 250 from corporate workforce
(DBN)

Innovaccer lays off 245
(DBN)

Bally’s Laying Off 15% Of Its Employees
(DBN)

PagerDuty to lay off 7% of staff as tech job cuts continue
(DBN)

Uber Freight cutting about 150
(DBN)

Frosty funding forecast forces Finch to lay off 95% of staff
(DBN)

A married couple with a 4-month-old baby were both laid off by Google, while one of them was on parental leave I just got laid off from Google by email. The 'cold' and 'inhuman' way they treated employees is why I'm not going to reapply Google to cut annual bonus of senior executives after mass layoff: CEO Sundar Pichai Some Google employees didn't realize they were laid off until their badges wouldn't let them into the office Google cut over 1,800 California jobs, including two dozen massage therapists
(DBN)

Alphabet CEO's memo announcing layoffs does exactly what it should: address the remaining workers
(DBN)

'Sorry.' The tone of layoff memos from tech CEOs shows how accountability matters.
(DBN)

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Autos:

Subprime Auto-Loan Delinquencies Rise To 2019 Levels: A Dive Into Subprime Lending And Securitizations
(DBN)

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Newspapers:

The Demise of Local News
(DBN)

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Religion:

Pope Francis: Homosexuality is Not a Crime
(DBN)

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Private Equity:

Private Equity’s Loved Assets Turn Problem Children in Downturn
(DBN)

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Economy:

Companies are lowering their earnings outlooks for 2023 as 'corporate misery' rises in a 'troubling' sign, says Bank of America
(DBN)

US Business Activity Shrinks for Seventh Month, Prices Rise
(DBN)

Inflation is cooling, but prices on many items are going to stay high for months
(DBN)

Biden finally gets a win against inflation
(DBN)

‘Zombie’ reckoning: goodnight to the walking debt?
(DBN)

IPOs decline as large companies gobble up more startups. That’s bad for innovation
(DBN)

Amid an uncertain economy, American workers are guardedly optimistic about the job market
(DBN)

Debt ceiling fight threatens to deepen divide between GOP and corporate America Treasury tells Congress it will suspend some federal retirement funding after debt limit breach Yellen Reports New Debt-Limit Accounting Maneuver to Congress McHenry Warns Fellow GOP Leaders to Be Reasonable in Debt-Ceiling Talks Five ways federal government can try to avoid default Debt ceiling 'game of chicken' will terrify markets -Bain Capital's Lavine
(DBN)

Does America Have Too Much Debt?
(DBN)

Walmart raises minimum wage as retail labor market remains tight
(DBN)

How much money you need to earn to be in the top 1% in every U.S. state
(DBN)

Biden's new tax hammer Here’s what you need to know about the GOP bill to abolish the tax code
(DBN)

Corporate Bond Bonanza May Be Too Much, Too Soon
(DBN)

Gen Z wants to work for big companies that can survive economic downturns, Adobe says
(DBN)

Latin America’s Top Economies See Faster-Than-Expected Inflation
(DBN)

I work from home and still need childcare. No, it doesn't make me a bad mom.
(DBN)

Even with a bump to $14 an hour, Walmart workers won't make nearly as much as some activists say they should
(DBN)

Is tipping getting out of control? Many consumers say yes
(DBN)

Proposed wealth tax in California would make rich residents pay even after they leave state
(DBN)

Senators eye Social Security reforms as some in House GOP consider cuts
(DBN)

Europe Gas Extends Slide as Crisis Eases on Supply and Reserves Euro-Area Is Set to Avoid a Significant Winter Downturn
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

Scientists set Doomsday Clock closer to midnight than ever before
(DBN)

Charted: The World’s Working Poor, by Country
(DBN)

How People Really Live
(DBN)

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Real Estate:

MBA: Mortgage Applications Increase in Latest Weekly Survey
(DBN)

Survey finds Americans wildly misinformed on housing market
(DBN)

Your segregated town might finally be in trouble
(DBN)

These 4 cities will suffer a 2008 crash in home values: Goldman Sachs
(DBN)

The worst is over for the US housing market – and prices will stop crashing within 6 months, Goldman Sachs says
(DBN)

Someone finally bought Madoff's Hamptons home years after forced sale
(DBN)

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Municipalities:

How a Bankrupt City’s Pension System Hit a Breaking Point
(DBN)

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Oil/Gas:

Los Angeles County Blocks New Oil Wells, Mirroring Citywide Ban
(DBN)

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Tech:

DOJ files second antitrust suit against Google, seeks to break up its ad business Justice Department sues Google for "corrupting" ad market
(DBN)

Elon Musk admits Tesla investors would rely on "funding secured" tweet Musk Takes Witness Stand for Third Day in Tesla Fraud Trial Elon Musk justifies his 'funding secured' tweet with a bizarre real estate analogy Elon Musk's net worth skyrockets nearly $11 billion in 2 days as the Tesla CEO defends his 'funding secured' tweet in trial Elon Musk says he counted on cashing in SpaceX stock to take Tesla private when he tweeted 'funding secured' Musk says he had ‘no ill motive’ with his privatizing Tesla tweet
(DBN)

White Nationalist Nick Fuentes Back on Twitter
(DBN)

Twitter Sued in Germany Over Vetting of Anti-Semitic Posts
(DBN)

Microsoft Revenue Up 2 Percent, but Profit Drops 12 Percent
(DBN)

AI is Adept at Creating Misinformation
(DBN)

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Education:

DeSantis targets unions, school boards with ‘Teachers Bill of Rights’
(DBN)

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Climate:

New technique from U.S. national lab to strip CO2 emissions at record-low cost
(DBN)

Banks Face Investor Calls to Cut Fossil-Fuel Financing
(DBN)

The Federal Reserve is starting a climate experiment
(DBN)

Months After Ian Hit, Many in Fort Myers Living in Tents
(WSJ)

Long-term drought persists in US West despite rain, snow
(DBN)

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Student Debt:

Nearly 2,000 people flooded a federal website to oppose Biden's 'totally unjust' and 'completely illegal' student-loan forgiveness proposals
(DBN)

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Trucking:

American truckers' wages have dropped by more than $50,000 since 1980, creating one of the industry's biggest problems
(DBN)

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Celebs:

Katie Price selling worn socks for £50 and old bras for £200 ahead of bankruptcy hearing
(DBN)

Young Thug’s lawyers say rapper shocked by co-defendant handing him Percocet in courtroom
(DBN)

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Cannabis:

Bankruptcy relief for cannabis-adjacent debtors? It gets hazy
(DBN)

Lawyers are lighting up the budding cannabis industry
(DBN)

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Food/Beverage:

Lakeside Produce declares bankruptcy, owing $188 million
(DBN)

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Labor:

‘Robots are treated better’: Amazon warehouse workers stage first-ever strike in the UK
(DBN)

Wage theft often goes unpunished despite state systems meant to combat it
(DBN)

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Furniture:

Does Wayfair Need To Exist?
(DBN)

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Fraud:

I’m a corporate fraud investigator. You wouldn’t believe the hubris of the super-rich
(DBN)

Former Energy Company Executive Sentenced for $15 Million Investment Fraud
(DBN)

Former CEO Of Email Security Company Sentenced To Five Years In Prison
(DBN)

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Electricity:

Heritage Power, LLC Enters into Restructuring Support Agreement With its Parent Company, GenOn, and Lenders to Carry Out a Balance Sheet Restructuring
(DBN)

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Politics:

George Santos promised to explain himself within a week. It’s been a month George Santos spars with drag queen in tense Twitter battle Drag artist says George Santos was a left-wing Lula supporter in Brazil before going to the US and turning into 'this crazy thing' Drag artist says George Santos left Brazil in 2005 and returned in 2008 'with money' to compete and lose in Miss Gay Rio de Janeiro “A made-up life”: Congress has never seen anyone like George Santos In a resurfaced 2020 interview George Santos claimed he met Jeffrey Epstein, and entertained the idea that he could still be alive George Santos Claims Someone Tried to Murder Him and That His Shoes Were Stolen off His Feet on Fifth Avenue George Santos Admits 500K Personal Loan to Campaign Wasn’t 'Personal' New York Republicans Dislike George Santos Almost as Much as Joe Biden McCarthy says Santos will be removed from office if Ethics panel finds he broke law The improbability of George Santos’ $199 expenses
(DBN)

Senate GOP pours cold water on idea of impeaching Biden
(DBN)

Republican Rep. Spartz opposes McCarthy effort to boot Democrats from committees GOP opposition to kicking Dems off committees grows McCarthy formally blocks Schiff, Swalwell from Intel panel Dems mobilize to defend Omar in face of GOP defections
(DBN)

McCarthy names GOP members to run sweeping investigative panel
(DBN)

New GOP senator irks colleagues with Judiciary committee push
(DBN)

Trump now leads Biden in hypothetical match-up Trio of polls show Trump clawing back momentum from DeSantis
(DBN)

More than half of LGBTQ parents in Florida say they are considering leaving the state
(DBN)

Independent Sinema Courted by GOP as Democrat Lines Up Challenge
(DBN)

Ken Griffin has built two of Wall Street's most powerful firms. His next target could be influencing politics.
(DBN)

Conservative additions to Rules panel may haunt GOP leaders who put them there
(DBN)

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New Bankruptcy Opinions
(0 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (38 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (9 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:

Recession or Not, 2023 Will See Elevated Restructuring Activity — but Maybe Not a Boom
(DBN)

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History:

Some Bankruptcy Law History: Debtor Benefits Are Always A Tough Sell (Part III, The Bankruptcy Code)
(DBN)

When the KKK Pushed for Compulsory Public Schooling
(DBN)

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Avoidance Actions:

Southern District of Ohio Finds Bank’s Settlement of Fraudulent Transfer Claim Uninsurable
(DBN)

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Credit Reporting:

Second Circuit holds inclusion on credit report of student loan debt alleged to have been discharged in bankruptcy did not make report inaccurate under FCRA
(DBN)

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Aviation:

The Wall Street Journal ranked US airlines from worst to best. See the list.
(DBN)

Ethiopian Max Crash Report Made False Claims on Plane, US Says
(DBN)

I got revenge on a plane passenger behind me who kept opening my window shade
(DBN)

Lenders seek stay on Jet's transfer to Jalan-Kalrock Consortium
(DBN)

Berlin Airport Cancels All Flights on Wednesday Amid Wage Strike
(DBN)

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Crypto:

Quantifying Cryptocurrency Claims in Bankruptcy: Does the Dollar Still Reign Supreme?
(DBN)

Battle Royale: Celsius Network vs. Voyager Digital
(DBN)

The January Effect: The US Internal Revenue Service Rules on Cryptocurrency Loss Harvesting
(DBN)

Celsius May Issue a Bankruptcy Crypto Token to Repay Creditors Celsius Proposes Restructuring to Offer One-Time ‘Meaningful Recovery’ Payout for Most Creditors
(DBN)

Silvergate had close ties to Sam Bankman-Fried's FTX and Alameda. The crypto bank was also reportedly a favorite of other troubled clients including an Australian Ponzi criminal
(DBN)

How a prestigious Wall Street law firm got caught up in FTX’s chaos Sam Bankman-Fried-linked townhouse in Washington, DC, goes on sale for $3.28 million after hosting political gatherings with vegan-heavy menus SBF held $50 million in a tiny rural Washington state bank that had just 3 employees until he invested in it Anthony Scaramucci says he got only $400,000 back on his $10 million investment in FTX's token
(DBN)

BlockFi secret financials show a $1.2 billion relationship with Sam Bankman-Fried’s crypto empire
(DBN)

Crypto exchange Digital Surge emerges as a rare survivor of FTX fallout
(DBN)

Binance admits reserve tokens were mistakenly co-mingled with user funds, making ability to redeem coins difficult to verify
(DBN)

Their Issuers Went Bankrupt, but These Tokens Have Survived
(DBN)

A 5-Pronged Approach to Sensible Crypto Regulation After FTX
(DBN)

Genesis Seeks $20.9M From ‘Bitcoin Jesus’ Over Crypto Options Trades That Weren’t Settled Bitcoin Jesus fails to settle $20.9 million in crypto options trades for bankrupt lender Genesis Global Genesis slapped with lawsuits amidst bankruptcy proceedings Genesis creditors sue parent DCG and Barry Silbert IRS & SEC get listed as creditors in the bankruptcy filing by Genesis
(DBN)

Bankruptcy-litigation hedge funds see potential in Genesis, FTX collapse
(DBN)

Ripple Rival Stellar Has $13M+ Exposure to Bankrupt Genesis
(DBN)

Gemini to file for bankruptcy? Question Arises After Exchange lays off 10% workforce - The Coin Republic
(DBN)

Bitcoin miner Core Scientific raised $500M from BlackRock, Apollo, other creditors
(DBN)

Grayscale would appeal lawsuit against SEC if court rejects case, CEO says Court sets date for oral arguments in Grayscale’s challenge of SEC’s bitcoin ETF decision
(DBN)

Why we support SEC regulation of crypto
(DBN)

Crypto Chaos Snags Wall Street’s Lender of Next-to-Last Resort
(DBN)

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Healthcare:

Health Insurers Face $3 Billion Medicare Clawback Threat
(DBN)

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Sovereigns:

IMF to convene new creditor roundtable to push credit solutions for indebted nations
(DBN)

IMF's Georgieva sees broad deal with China on debt restructurings
(DBN)

China Tells US to Fix Its Own Debt Problems After Yellen Africa Remarks
(DBN)

Bukele Says El Salvador Paid Full $800 Million of Debt Due
(DBN)

Without president, reforms, bankrupt Lebanon somehow holds on
(DBN)

China Gives Immediate Relief To Debt-Ridden Sri Lanka Sri Lanka Central Bank Holds Rates as It Awaits Crucial IMF Deal
(DBN)

World Bank Chief Says China’s Actions Delay Zambia Debt Deal
(DBN)

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UK:

Supreme Court Strikes Out Quincecare Claim Where No Loss Suffered By Insolvent Ponzi Scheme
(DBN)

UK Night-Time Economy Lost 700,000 Workers In Past Six Years
(DBN)

Poorest Suffer Biggest UK Living Standards Hit as Divide Grows
(DBN)

BOE Heads Off Strike Danger With 3.5% Pay Deal for 4,200 Staff
(DBN)

Room for UK Tax Cuts Reduced as Economic Growth Potential Falls
(DBN)

Greedflation: ‘Entirely possible’ that food brands are profiteering from price hikes, says Tesco chairman
(DBN)

Eurostar Blames Brexit and Border Queues for Empty Seats
(DBN)

Home Reit tenant pushed to brink as it struggles to secure sign off for government-backed benefits
(DBN)

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EU:

ECB Shouldn’t Slow Hike Pace as Wage Pressures Grow, Simkus Says
(DBN)

Dutch PM Rutte wants EU to play it frugal in face of mega US subsidies
(DBN)

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Russia:

Senior Ukrainian officials ousted in corruption crackdown
(DBN)

Russia is sticking to its failed strategy of filling gaps in decimated front-line units with 'ill-equipped, ill-trained' troops, US official says
(DBN)

Russian mercenaries are forbidden from helping wounded comrades and forced to leave them behind, Ukrainian intel says
(DBN)

Finland’s top diplomat hints at joining NATO without Sweden
(DBN)

Support for Ukraine in US still high, but slowly fading: survey
(DBN)

Germany to Give Poland Approval This Week to Send Tanks to Ukraine Biden set to make U-turn on tanks to Ukraine amid mounting pressure In reversal, US poised to approve Abrams tanks for Ukraine The M1 Abrams Is the Right Tank for the Job in Ukraine Germany moves to send battle tanks to Ukraine Germany to Boost Ukraine’s Firepower With Leopard 2 Tanks
(DBN)

Zelenskyy fired 9 top officials after reports that members of his government went on vacation to Spain and France and took bribes during the war
(DBN)

Russian ex-President Medvedev says Japanese PM should disembowel himself
(DBN)

Pentagon Will Increase Artillery Production Sixfold for Ukraine
(DBN)

US Confronts China Over Companies’ Ties to Russian War Effort
(DBN)

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Greece:

Hundreds choose to declare bankruptcy
(DBN)

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China:

China wants a more efficient workforce but analysts say that will be tough
(DBN)

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MENA:

Extreme Israeli group takes root in US with fundraising bid
(DBN)

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India:

Insolvency & Restructuring, Key Judgments & Updates for 2022
(DBN)

Centre looking at decriminalizing some IBC offenses
(DBN)

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Australia:

Australian inflation hits a post-1990 peak
(DBN)

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Brazil:

Brazil's Bradesco to file international lawsuit against retailer Americanas
(DBN)

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Japan:

Japan Cuts View of Economy as Trade Weakens Amid Global Slowdown
(DBN)

Japan’s Dai-ichi Life Plans 5% Wage Hike for 50,000 Workers
(DBN)

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Germany:

German Business Outlook Brightens as Recession May Be Avoided
(DBN)

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