January 31, 2023

The Daily Bankruptcy News

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Law:

Biglaw Associates, Partners Need To Change Their 'Selfish' Work Routines Now That They're Expected In The Office
(DBN)

Alternative legal services providers hit $20.6B share of legal market, new report says
(DBN)

Citing show-cause order against Reed Smith partner, judge allows firm to withdraw from case
(DBN)

Biglaw Firm That Lost $62 Million Assures Everyone They're Going To Be Just Fine Financially
(DBN)

The Irresistible Urge To Lie
(DBN)

The U.S. News Ranking Methodology May Have Changed, But Law Schools Are Still Dropping Like Flies
(DBN)

The Extraordinary Journey Of Cece Xie
(DBN)

Law Professor Eager To Share All Sorts Of Awful Thoughts About Trans Folks And Racial Justice!
(DBN)

Prenda Law lawyer loses attempt to file more piracy lawsuits from prison
(DBN)

Defense faults crime scene collection in Alex Murdaugh trial Court Releases Bodycam Footage from Police Search of Alex Murdaugh's Family Hunting Lodge Day After Murders of His Wife and Son Prosecutors work to establish case against Alex Murdaugh as defense focuses on motive and procedure
(DBN)

Manhattan grand jury begins to hear evidence in Trump hush money case: report New York DA revives investigation into Trump’s hush money payments to Stormy Daniels Trump risks 'hush money' charges carrying up to 4 years in prison, say ex-Manhattan prosecutors
(DBN)

Trump sues Bob Woodward for releasing interview recordings
(DBN)

Amid internal ethics disputes, special counsel probe into origins of Russia investigation finds no deep-state plot Senate Judiciary mulls action amid fallout from Durham probe
(DBN)

Bill Barr's Image Rehab is Kaput
(DBN)

Better Hand Over Those Classified Documents, Because Merrick Garland 'Don't Play' How classified documents became a schoolgirl's show-and-tell DOJ declines to release communication on Biden docs to House Judiciary Calls mount to curb classification
(DBN)

Secret hold restricts DOJ's bid to access phone of Trump ally Rep. Scott Perry
(DBN)

Trump Lawyer Alina Habba Brags About All The Courtroom Winning. No, She Will Not Be Taking Questions At This Time.
(DBN)

Ally of Ex-Trump Chief of Staff Signed Plea Agreement in Campaign Finance Case, Feds Say
(DBN)

Ex-Pryor Cashman associate with 3 foster children gets prison time in Molotov cocktail attack
(DBN)

Police search for man who threw Molotov cocktail at New Jersey synagogue
(DBN)

R. Kelly sex-abuse charges dropped by Chicago prosecutor
(DBN)

Sixth Memphis officer is relieved of duty after Tyre Nichols' death, police say Tim Scott is pivotal figure as Tyre Nichols beating rekindles talk of police reform Tyre Nichols' killing revives calls for Congress to address police reform Scott says Democrats are to blame for the failure of police reform legislation Graham floats potential compromise on qualified immunity Memphis Fire Department terminates three officials who responded to Tyre Nichols arrest The Medics Are Also to Blame for Tyre Nichols’ Death Police statements tell the first version of an incident. Then video footage comes out
(DBN)

Florida mass shooting leaves 10 injured
(DBN)

More than a quarter of Louisiana prisoners have been held past their release dates since 2012, DOJ says
(DBN)

Tesla Road Rage Suspect Accused of Terrorizing California Highway Drivers With Metal Pipe Now In Custody
(DBN)

$100 repair bill sparked Half Moon Bay shooting, prosecutor says
(DBN)

Florida Authorities Arrest 'The Pooping Perpetrator' for Burglary After Suspect Jumped Naked into River and was Rescued by Police
(DBN)

Saatchi & Saatchi marks 50th anniversary of Roe v. Wade with new Pregnant Man ad
(DBN)

How the Supreme Court could soon change free speech on the internet
(DBN)

Florida weighs allowing concealed carry guns without permit
(DBN)

Former GOP New Mexico state House candidate indicted in shootings targeting elected officials
(DBN)

______________

Judges:

Federal Judge Utterly Done With Lawyer's Pettiness
(DBN)

Federal judge bans potentially inflammatory words, such as ‘yahoos’ and ‘fake news’
(DBN)

Judicial discretion should be upheld in case involving sentencing standards, ABA says in amicus brief
(DBN)

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Wall Street:

Stock futures dip slightly as S&P 500 heads for best January since 2019
(DBN)

Stocks close lower, Dow sheds more than 250 points to snap six-day win streak
(DBN)

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Layoffs:

Amgen lays off about 300 workers, citing 'industry headwinds'
(DBN)

Google engineer sacked 4 days after his mother passed
(DBN)

Tesco says management shake-up and hot counter closures to leave 2,100 roles at risk
(DBN)

Groupon to lay off another 500
(DBN)

Crypto Services Company Prime Trust Lays Off One-Third of Staff
(DBN)

Report: Impossible Foods planning to lay off 20% of staff
(DBN)

BM Technologies Cuts 25% of Workforce
(DBN)

Cash-strapped EV startup Arrival is laying off half its staff
(DBN)

______________

Personal Finance:

Here’s why you’re landing tons of job interviews—but no offers, according to a career coach
(DBN)

When it comes to dating, earning less than $30,000 is a deal breaker, a new survey shows
(DBN)

____________

Politics:

Gallup: More Americans Cite Gov't as Top Problem
(DBN)

Joe Biden Faces New Test With Trump Ally Jair Bolsonaro
(DBN)

Republicans are mostly ignoring a $9.4 million sexual assault lawsuit against the Trump-aligned head of CPAC
(DBN)

Trump: I Trust Putin More Than US Intelligence Trump’s slow-rolling 2024 bid cobbles together new Senate support
(DBN)

____________

Transit:

D.C.’s free bus bill becomes law as zero-fare transit systems take off
(DBN)

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Coal:

Profits May Reverse In 2023 As Coal Prices Plummet
(DBN)

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Hotels:

Bowery micro-hotel facing foreclosure files for bankruptcy
(DBN)

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Maritime:

DOF Puts Forward New Debt Plan Warning of Insolvency and Bankruptcy
(DBN)

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Fitness:

Planet Fitness: Unhealthy Debt In This Business
(DBN)

____________


Economy:

What another Fed rate hike would mean for mortgages, credit card bills and more
(DBN)

FOMC Preview: 25bp Hike Analysts agree: 25 bp Fed hike as rates will stay higher, longer
(DBN)

How one man's ego could plunge America into a recession
(DBN)

IMF: Global growth to be less sluggish than expected IMF hikes global growth forecast as inflation cools, household spending holds
(DBN)

The U.S. Consumer Is Starting to Freak Out
(WSJ)

Treasury yields decline as investors await Fed meeting kick-off
(DBN)

Even on $100,000-Plus, More Americans Are Living Paycheck to Paycheck
(DBN)

Long Covid has an ‘underappreciated’ role in labor shortage, study finds
(DBN)

Wall St. Is Counting on a Debt Limit Trick That Could Entail Trouble Treasury to increase borrowing amid debt ceiling standoff Social Security, Medicare should be off table in debt ceiling talks: McCarthy Twenty-four GOP senators warn they will oppose debt limit increase without fiscal reforms How Bad is the Debt Ceiling Stand-Off? Republicans still trying to starve the beast
(DBN)

Fertility rate increases for first time since 2014: CDC
(DBN)

Nearly a year on from the supposed Russian exodus, most major companies have yet to withdraw European Natural Gas Prices Surge Ahead Of Cold Spell
(DBN)

Remote work hasn't actually saved Americans much time — they're mainly just working more
(DBN)

Absence from work at record high as Americans feel strain from Covid
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

Fannie Mae: Mortgage Serious Delinquency Rate Increased Slightly in December
(DBN)

Lawler: D.R. Horton (DHI) Net Order Price Declined "Roughly" 10% from Peak
(DBN)

Housing January 30th Weekly Update: Inventory Decreased 1.4% Week-over-week
(DBN)

____________

Municipalities:

Can Cities Thrive with Empty Downtowns?
(DBN)

PREPA mediation extended to April 28
(DBN)

____________

Oil/Gas:

Why $4 per gallon gas this spring isn’t out of the question
(DBN)

BP: Demand for oil and gas will drop dramatically by 2050 in ‘decisive shift’
(DBN)

Clean Energy Taking Over the Texas Grid
(DBN)

____________

Retailing:

Bed Bath & Beyond announces 87 more store closures Bed Bath & Beyond preparing to file bankruptcy as soon as this week Meme stock darling Bed Bath & Beyond is ready to file for bankruptcy this week, report says Bed Bath & Beyond Stock: Bankruptcy May Trigger a Massive Short Squeeze
(DBN)

____________

Crypto:

David Castleman Joins Otterbourg as Member in the Restructuring and Bankruptcy Department
(DBN)

U.S. Says FTX Founder Bankman-Fried Needs Limits On Communications, Asset Access People who posted Sam Bankman-Fried's bail should be named, U.S. judge rules Prosecutors Want More Restrictions on FTX Founder Sam Bankman-Fried After New Email Made Public Bankrupt FTX sues Voyager Digital to recover $446 million in loan repayments it made to the crypto lender Why Alameda Research Is Suing Voyager Digital For $446 Million Battle of the bankrupts as FTX sues Voyager for $446 million New FTX Filing Pulls Back the Curtain on Sam Bankman-Fried’s Massive Influence Peddling Operation FTX-Linked Charity Under Scrutiny By UK Regulator, What's Coming? The FTX Investigations Are Getting Messy FTX Seeks to Remove Turkish Units From Bankruptcy Case
(DBN)

Celebrities Who Endorsed Crypto, NFTs Land in Legal Crosshairs After Investor Losses
(WSJ)

Defunct Crypto Lender BlockFi Granted Approval to Sell Assets
(DBN)

Celsius’ business model different from that advertised: US bankruptcy examiner Celsius Used New Customer Funds to Pay for Withdrawals: Independent Examiner
(DBN)

Crypto firm Lake Parime calls in administrators, sold to Statar Mining
(DBN)

Crypto firms cut nearly 3,000 jobs in January despite Bitcoin’s rise
(DBN)

Hong Kong seeks to revive crypto sector wrecked by FTX debacle
(DBN)

____________

Education:

School where boy shot teacher reopens with added security Top Leadership Out at School Where First Grader Allegedly Shot Teacher
(DBN)

New College board trustee wants to find new President, fire all faculty
(DBN)

What’s Really in the AP African-American Studies Class DeSantis Rejected?
(DBN)

____________

Tech:

Apple’s expected to post its first revenue decline since 2019 on Thursday
(DBN)

Ex-Twitter execs to testify on block of Hunter Biden
(DBN)

Sexual Discrimination Is Added To The List Of No-Nos Following Elon Musk's Twitter Takeover
(DBN)

ChatGPT Crowns Clarence Thomas As Champion Of Gay Rights In Feedback Loop Of Stupid
(DBN)

____________

Climate:

Dangerous ice storm underway as Arctic air surges south
(DBN)

Why California, other western states face growing pressure to reduce water consumption
(DBN)

AI Predicts Climate Change is Coming Faster
(DBN)

____________

Autos:

Pandemic Used-Car Boom Coming to Abrupt End
(DBN)

Ford and General Motors enter a new phase of uncertainty on prices and demand
(DBN)

Tesla’s Big Price Cuts Fuel Owner Backlash
(WSJ)

San Francisco is Tired of Robotaxis
(DBN)

____________

Fraud:

$5.4 billion in covid aid may have gone to firms using suspect Social Security numbers
(DBN)

____________

History:

The Rosewood Massacre 100 Years Later
(DBN)

____________

Sports:

A major bankruptcy that affects the Miami Marlins
(DBN)

Report of potential bankruptcy for Bally Sports owner puts Pacers TV broadcasts at risk
(DBN)

___________

 


New Bankruptcy Opinions
(3 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (18 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (74 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:

The Year In Bankruptcy: 2022
(DBN)

______________

Mass Torts:

J&J’s Talc Bankruptcy Case Gets Tossed by Appeals Court Third Circuit Dismisses LTL Mass Tort Bankruptcy, Holding “Good Faith” Requires “Immediate” Financial Distress Ap­peals court toss­es J&J's controversial 'Texas two-step' bankruptcy case J&J Can’t Use Bankruptcy to Resolve Talc-Injury Lawsuits, Appeals Court Rules U.S. court rejects J&J bankruptcy strategy for thousands of talc lawsuits Johnson & Johnson’s talc bankruptcy case rejected by appeals court J&J falls after appeals court rules company can't use bankruptcy to end cancer suits The Decision Heard in Boardrooms across the U.S.: 3rd Circuit Court of Appeals Rejects J&J's Shady Bankruptcy Tactic in Talc Lawsuits J&J’s Market Value Plummets by $17 billion After Appeals Court Denies Bankruptcy Escape Appeals court clears the way for more lawsuits over Johnson's Baby Powder
(DBN)

____________

Executory Contracts:

Fifth Circuit: Bad Faith Does Not Overcome Deferential Business Judgment Standard Applied to Assumption or Rejection of Contracts in Bankruptcy
(DBN)

Default Under Assumed Lease Need Not Be Material or Ongoing to Trigger Landlord's Entitlement to Adequate Assurance of Future Performance
(DBN)

____________

Reclamation:

The Eleventh Circuit Examines 20-Day Administrative Expense Claims and the Subsequent New Value Preference Defense
(DBN)

____________

Confirmation:

Acceleration Enforceable Under State Law Following Non-Monetary Control Covenant Default Prevents Reinstatement of Loan Under Chapter 11 Plan
(DBN)

____________

Valuation:

Sears Holding: A Case Study in Valuing Collateral in Chapter 11
(DBN)

____________

Mootness:

Appeal of Unstayed Order Approving Bankruptcy Sale of Real Property Free and Clear of Lease and Related Settlement Agreement Dismissed as Moot
(DBN)

____________

Aviation:

JetBlue pilots approve contract extension that comes with over 21% in raises
(DBN)

Southern ice storm prompts cancellation of more than 800 flights
(DBN)

Boeing Delivers the Last 747
(DBN)

SC refuses to entertain JKC plea on Jet Airways employees' dues
(DBN)

____________

Healthcare:

Deaths jump among pregnant women
(DBN)

COVID-19 is a leading cause of death among children, but is still rare
(DBN)

Health care spending in the US nearly double of other wealthy nations: report
(DBN)

Biden administration plans to end COVID public health emergency in May Here are 3 things the end of the COVID public health emergency could undo
(DBN)

Getting vaccinated at pharmacies works: It could soon disappear
(DBN)

I Took Oxy And Fentanyl For Years. Here's What No One Is Telling You About The Opioid Crisis.
(DBN)

After a cancer diagnosis, a neurosurgeon sees life, death and his career in a new way
(DBN)

____________

Sovereigns:

Chaos and intrigue reign in UK court fight over Castro-era Cuban debt
(DBN)

Pakistan's economy in 'collapse' as IMF visits
(DBN)

____________

UK:

Number of people and businesses going financially insolvent jumped in 2022
(DBN)

Guide to Bankruptcy
(DBN)

Britishvolt founder to bid for bankrupt battery start-up
(DBN)

The Great British Walkout: Rishi Sunak braces for biggest strike in 12 years
(DBN)

Changing Attitudes on Brexit in UK
(DBN)

____________

EU:

Euro zone economy posts surprise expansion in the fourth quarter, curbing recession fears
(DBN)

____________

Canada:

Trudeau Knows There's Trouble on the Horizon
(DBN)

____________

Italy:

The Double Whammy Making Italy the West’s Fastest Shrinking Nation
(DBN)

____________

Russia:

Putin mobilising 200,000 troops for new invasion to topple Ukraine – and he won’t stop, warns NATO chief
(DBN)

Biden seemingly rejects request to send U.S. F-16s to Ukraine
(DBN)

Intel Reveals Putin on Thin Ice in Panicked Hunt for Troops
(DBN)

Boris Johnson says Putin threatened to target him with missile attack
(DBN)

Ukraine Claims Poland In Talks To Transfer Its F-16s
(DBN)

‘Very Dangerous People’: Russia’s Convict Fighters Are Heading Home
(DBN)

Russian athletes should not be allowed to compete in the 2024 Olympics, Zelenskyy says. It would show that 'terror is somehow acceptable.'
(DBN)

____________

MENA:

Pakistan mosque suicide bomber kills 59, wounds over 150
(DBN)

Iran says drones attacked military factory, in latest hint of shadow war with Israel U.S. and Israel launch a massive joint military exercise to send a message to Iran and others
(DBN)

The Taliban requires that all mannequins' heads be covered or cut off. Interviews with locals and eerie photos of storefronts offer a glimpse of Afghanistan's new reality.
(DBN)

____________

China:

China’s January factory activity returns to growth as economists cheer its reopening
(DBN)

____________

India:

Unsecured debt tag for govt dues to facilitate IBC rescue
(DBN)

____________

Brazil:

Bolsonaro seeks to stay in USA amid legal trouble at home
(DBN)


____________

France:

France Faces Second Wave of Pension Strikes
(DBN)

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