January 5, 2023

The Daily Bankruptcy News

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Law:

Law firm mergers gained steam in 2022, with more on the way in 2023
(DBN)

Top Biglaw Firm Starts New Year Off On Right Foot With Merger Announcement
(DBN)

Holland & Knight Acquires Nashville’s 280-Lawyer Waller Lansden
(DBN)

Mergers & Acquisitions Took A Big Tumble In 2022
(DBN)

Am Law 20 Firm Begins Layoffs
(DBN)

Top Law School Has A Brand New Name
(DBN)

Looking Back on 25 Years of Professional Websites
(DBN)

Proskauer Wins Temporary Restraining Order Against Former Chief Operating Officer
(DBN)

Everyone Should Have Had The Day Off On January 2nd
(DBN)

Berkeley Law dean thinks school is on ‘strong legal ground’ after student groups ban Zionist speakers
(DBN)

5 Ways US News Can Change Its Rankings Methodology
(DBN)

The Story of the Jewish Lawyer Who Defended the Free Speech Rights of Nazis
(DBN)

CT attorney rejects Alex Jones’ lawyer’s ‘no harm, no foul’ defense over Sandy Hook family records leak
(DBN)

Pennsylvania Man Dubbed 'Jack the Tripper' Pleads Guilty to Assaulting a Capitol Police Officer on Jan. 6 • Central Trump claim about J6 blown out of the water by WaPo fact-check • The Proud Boys Are on Trial for Jan. 6. Here’s What You Need to Know. • In Milley’s own words: The most striking moments from his Jan. 6 interview
(DBN)

Alan Dershowitz Cannot Be Sanctioned According To Alan Dershowitz
(DBN)

Big decisions loom for Fulton County investigation of Trump
(DBN)

Jack Smith returns to U.S. weeks after becoming Trump special counsel
(DBN)

Feds boost reward to $500K for information on Capitol pipe bomber
(DBN)

E. Jean Carroll Deploys Prince Andrew Precedent to Advance Lawsuit Accusing Donald Trump of Raping Her
(DBN)

FDA adds a major new twist to the abortion pill fight • Pharmacies can now sell the abortion pill, but you probably won't find it at top chains like CVS, Walmart, or Walgreens anytime soon • Walgreens is the first major pharmacy to say it plans to sell abortion pills as Walmart, CVS, and others consider hurdles and threats of backlash
(DBN)

Idaho murder suspect doesn't break a sweat as he's perp-walked through Monroe County Courthouse under heavy guard • Idaho slaying suspect removed from county jail and turned over to Pa. State Police, warden says • 'We Would Put Him on a Small Aircraft by Himself': How an Ex-Top U.S. Marshals Official Says He'd Move Idaho Murder Suspect Bryan Kohberger • Accused Quadruple Student Murderer Bryan Kohberger Is En Route to Idaho. Here's More About His Flight and What Happens When He Lands.
(DBN)

Biden says he intends to visit the U.S.-Mexico border for first time since taking office
(DBN)

Funeral-home owner gets 20 years in prison for cutting up dead bodies and secretly selling the parts
(DBN)

US teen discovers cyber bully was her own mother
(DBN)

Texas man who met woman on Bumble kidnapped and tortured her for 5 days, authorities say
(DBN)

Desperation is driving latest surge of Cuban rafters arriving in the Florida Keys
(DBN)

Andrew Tate Was Arrested on Suspicion of Rape in the UK in 2015
(DBN)

Former teacher who wore MAGA hat to school was protected by First Amendment, court rules
(DBN)

Facial recognition tool led to mistaken arrest, lawyer says
(DBN)

Lawyer digs into big data for new legal thriller ‘Code 6’
(DBN)

'Romeo & Juliet' stars sue over teen nude scene in 1968 film
(DBN)

Florida Couple Burglarizing Home Called 911 for Help 'Moving Their Belongings from the House (the One They Were Burglarizing)': Sheriff
(DBN)

Thousands Lost Power on Christmas so 2 Guys Could Rob a Store, Police Say
(DBN)

Times Square Suspect Wanted to ‘Carry Out Jihad,’ Prosecutors Say
(DBN)

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Judges:

Sotomayor felt ‘sense of despair’ over Supreme Court’s direction
(DBN)

'I'm here all day': Supreme Court runs longer arguments, issues fewer opinions
(DBN)

Why did Gorsuch join liberal justices who wanted to lift Trump-era Title 42 immigration policy?
(DBN)

Clarence Thomas Helped Convince Ginni Thomas To 'Keep Holding On' To Her Mistaken Belief Donald Trump Won The 2020 Election
(DBN)

New York AG's Emergency SCOTUS Bid to Preserve Concealed Carry Law Could Mark Showdown Between Clarence Thomas and Brett Kavanaugh
(DBN)

Chief Justice's Annual Report Recounts 65-Year-Old Tale Of Judicial Heroism To Remind You There Isn't Any Today
(DBN)

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Wall Street:

Stock futures are flat as investors digest Fed minutes, look ahead to labor data
(DBN)

US stocks rally but close off highs on signs of persistent Fed hawkishness and labor-market tightness
(DBN)

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Layoffs:

Amazon is laying off over 18,000 workers, the largest job cut in the company's history
(DBN)

Corporate America lays off thousands as recession worries mount
(DBN)

A former Morphe employee said her entire store was fired. She's among a number of TikTokers demanding answers from the struggling makeup retailer • Morphe Goes Viral After Makeup Artists Claim Mass Store Closures With Short Notice in TikTok Videos
(DBN)

Salesforce is slashing thousands of workers, as a wave of layoffs continues into 2023. Here's the full list of major US companies making cuts.
(DBN)

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Healthcare:

What's next for Graves Gilbert Clinic after bankruptcy filing?
(DBN)

What Is the 'Kraken' Covid Variant XBB.1.5 and Why It’s Causing Concern
(DBN)

Mask mandates return to NJ schools
(DBN)

New Covid strain is the most transmissible yet, WHO says
(DBN)

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Climate:

More powerful atmospheric river storm to hit California with flooding • Bomb cyclone hits California with flooding, high winds and heavy snow • Emergency declared as powerful storm threatens floods, outages in Northern California • Soaked California Set for Another Deluge as Storm Batters State
(DBN)

Record Winter Heat Wave Forces Snowless European Ski Resorts to Close
(DBN)

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Celebs:

Todd Chrisley promises tell-all interview with son before he and Julie head to prison
(DBN)

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Student Debt:

Biden Administration Urges Supreme Court to Back Student-Debt Relief
(DBN)

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Personal Finance:

Moving to Florida could save you on taxes — but cost more overall
(DBN)

Avoid saying these 33 things to your boss — use these alternatives instead
(DBN)

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Utilities:

Are power outages becoming the norm in Texas? Here’s what one study says
(DBN)

California Wine Town to Fight Blackouts With Batteries, Hydrogen
(DBN)

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Economy:

FOMC Minutes: Participants continued to anticipate ongoing rate increases • Fed Officials Fretted That Markets Would Misread Rate Slowdown
(DBN)

ISM® Manufacturing index Declined to 48.4% in December, Price Index Lowest Since April 2020
(DBN)

BLS: Job Openings "Little Changed" at 10.5 million in November
(DBN)

US Job Growth to Slow or Even Reverse After Near-Record Year
(DBN)

Workers Still Quitting at High Rates
(DBN)

How Uber surge prices explain the Fed's inflation miss
(DBN)

If a Recession Hits in 2023, How Bad Could Things Get?
(DBN)

We just got confirmation that interest rates on mortgages, cars, and credit cards will keep getting more expensive in 2023
(DBN)

2023: Recession, Bear Market And A Lot Of Pain
(DBN)

Why Are Energy Prices So High? Some Experts Blame Deregulation.
(DBN)

Workers Are Losing in the Inflation Battle
(DBN)

The pay gap will get worse for Gen Z women because they're 'so anxious,' an NYU professor says
(DBN)

Russia's war revenue fell by $15 million in the last week of the year as crude exports plunged to lowest levels of 2022 • Europe Set for Warmest January in Decades as Energy Crisis Eases
(DBN)

Map: The states hiking minimum wage for 2023
(DBN)

Employers may finally stop caring about where you went to school, says HR expert
(DBN)

Why is Everything So Poorly Made?
(DBN)

Ranked: The World’s Wealthiest Cities, by Number of Millionaires
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Moody's: National Multifamily Supply and Demand at Lowest Levels since 2009
(DBN)

Manhattan Office Leasing Declines 47 Percent in Q4: Colliers
(DBN)

Mortgage demand slumps 13% as home-loan rates turned higher at the end of a tough 2022 for the housing market
(DBN)

It's official: Remote work is going to make it easier to buy a home
(DBN)

The rise of 'Zoomtowns' is going to make home prices and rents cheaper for everyone
(DBN)

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Oil/Gas:

Electric Cars Now 13% of Global Sales
(DBN)

Electric Vehicles Are Bringing Out the Worst in Us
(DBN)

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Retailing:

10 Retailers to Watch for a Bankruptcy Filing in 2023
(DBN)

Iconic retailer Reitmans looks to the next generation after emerging from bankruptcy protection
(DBN)

Amazon will take years to recover from a warehouse overbuilding binge during the pandemic. In 2022, it still added a third of Walmart's total capacity.
(DBN)

Barnes & Noble to expand, marking a new chapter for private equity
(DBN)

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Movie Theaters:

Cineworld Bankruptcy Judge Tells Regal Parent To Fast-Track Theater Closings, Landlord Negotiations: “We Are Not Going To Stick Around Here Forever”
(DBN)

Cineworld Grapples With Box-Office Slump as It Seeks a Sale in Bankruptcy
(WSJ)

Cineworld shuts down 23 of its theatres, plans more closures
(DBN)

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Insurance:

Policyholders seeking coverage for Covid-19-related losses may have reason to be optimistic
(DBN)

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Fraud:

'Varsity Blues' mastermind Rick Singer sentenced to 42 months in prison • Convictions, prison time: A look at college admissions scam
(DBN)

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Corporate Governance:

Corporate Governance: 2022 Year-End Review
(DBN)

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Tech:

A Twitter angel investor appears to mock Elon Musk by offering to buy the company and threatening to withdraw his investment if Musk says no • Twitter Faces Another Executive Departure Amid Musk Takeover • Elon Musk's Twitter may have found another way to cut losses • Elon Musk may be facing more legal trouble than he expects as companies sue over unpaid Twitter bills: “Creditors have legal remedies, too”
(DBN)

Ireland fines Meta 390M euros in latest privacy crackdown
(DBN)

META Ad Practices Ruled Illegal in EU
(DBN)

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Politics:

There are currently zero members of the US House of Representatives • What can’t the House do without a Speaker? • Six Up. Six Down • These 21 Republicans did not support McCarthy on Day 2 of the Speaker’s vote • GOP Hardliners Angle for Plum Posts as Price of McCarthy Votes Conservative Revolt Against McCarthy Erupts After Years of Anger • House Speaker election coverage: Chamber narrowly votes to adjourn for day • Your burning speakership questions answered: A viewer’s guide to the House chaos • 5 ways the GOP battle over House Speaker could end — with or without Kevin McCarthy prevailing • The Real Reason the House Chaos Should Scare Us • House in Limbo • House remains deadlocked with McCarthy set to lose sixth ballot in speaker bid • AOC says she was telling Matt Gaetz the Democratic Party would 'absolutely not' rescue Kevin McCarthy's speakership bid when they were spotted chatting on the House floor • Increasingly desperate GOP remains immobile after sixth speaker ballot • After Another Failed Vote, McCarthy’s Speaker Bid Is Starting to Look Pathetic • McCarthy allies and foes dig in for more chaos at the Capitol • The Humiliation of Kevin McCarthy • House adjourns speakership vote as McCarthy losses mount • McCarthy’s bid for speaker to continue, Trump urges support • ‘Sad!’ Matt Gaetz Mocks Trump’s 11th Hour Plea for McCarthy, Says the Never-Kevin Contingent is Holding Firm • Trump's last-minute plea failed to make any difference in Kevin McCarthy 4th unsuccessful try for House speaker • Kevin McCarthy loses even more support in fourth House speaker ballot • McCarthy speaker bid in peril as he fails to lock down support amid first-in-a-century fight • Kevin McCarthy Is a Victim of Republican Ingenuity • Pelosi's "Squad" nightmare becomes McCarthy's reality • McCarthy allies want to adjourn for the day but he may not have the votes to delay a fourth ballot, sources say • MTG doubles down on McCarthy support as rebels paralyze House GOP • Democrats break out the popcorn for Republicans’ speaker fight • Biden: GOP speaker drama ‘embarrassing,’ ‘not a good look’ • Who is Byron Donalds, latest GOP protest nominee against McCarthy's speaker bid • Marjorie Taylor Greene Sends a Message to the Far Right • What’s for dinner in the new Congress? Chaos and extremism • The Humiliation of Kevin McCarthy Will Continue Until Morale Improves • McCarthy’s political operation spent millions on lawmakers now opposing his speaker dreams • What the Kevin McCarthy Debacle Really Says About Republicans • ‘Popcorn and blankets and alcohol’: GOP lawmaker jabs Democrats amid Speaker vote • Hannity presses Boebert on Speaker chaos: ‘Is this a game show?’
(DBN)

The impossible role of GOP leader
(DBN)

Freedom Caucus Wants Govt Shutdown on Debt • Lawmakers say McCarthy Speaker fight portends debt ceiling crisis
(DBN)

What the Far-Right Republicans Want: To Remake Congress and the Government • At the heart of the speakership battle is a right-wing push for more influence.
(DBN)

President Biden, Mitch McConnell Stand Together In Celebration Of Bipartisan Infrastructure Success
(DBN)

Congress Has No Idea if George Santos Can Legally Serve in Congress
(DBN)

As McCarthy struggles in House, McConnell to appear with Biden
(DBN)

Rep.-elect George Santos admitted to using stolen checks in Brazil in 2008, documents show
(DBN)

The new Congress is the third oldest since 1789
(DBN)

Of Course the QAnon Guy Blamed QAnon on George Soros
(DBN)

Tucker Carlson: ‘Hatred’ of liberals ‘clouded my judgment’ before midterms
(DBN)

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New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (13 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)

Bankruptcy Statistics:

 

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Mass Torts:

3M Gets Spanked
(DBN)

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DIP Finance:

Standardizing and Unbundling the Sub Rosa DIP Loan
(DBN)

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UCC:

UCC Financing Statement Debtor Name Fundamentals
(DBN)

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Aviation:

She checked a bag on her flight. A tracking device in the suitcase tells rest of the story
(DBN)

Southwest to Give 25K Bonus Rapid Rewards Points to Customers Affected by Flight Disruptions • Southwest reports progress on refunds after holiday chaos but sees new delays • Grab Your Popcorn, The Class Action Suits Against Southwest Have Begun
(DBN)

EU agrees on response to China’s COVID wave — but it’s not mandatory • Germany, Sweden Add Covid Testing Rules for Flights From China • Cathay Pacific to More Than Double Flights to Mainland China
(DBN)

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Autos:

Supply Problems Hurt Auto Sales in 2022. Now Demand Is Weakening.
(DBN)

Vehicles Sales Declined to 13.31 million SAAR in December
(DBN)

Car buying is never going back to normal
(DBN)

GM Again Top Selling Automaker in US
(DBN)

New cars are for richer people: How the auto industry capitalized on pandemic
(DBN)

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Digital Communications:

Avaya CEO to Get $6 Million Cash Award, Stock Falls Below NYSE Minimum
(DBN)

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Crypto:

Bankruptcy judge rules that Earn account assets belong to Celsius • Celsius 'Earn' Assets Belong to Bankrupt Crypto Lender, Judge Rules • U.S. judge says Celsius Network owns most customer crypto deposits • Celsius Network’s Stablecoins Face Liquidation To Cover Bankruptcy Costs
(DBN)

One of the world's largest bitcoin miners will shut off thousands of mining rigs tied to bankrupt Celsius as part of the firms' bankruptcy proceedings
(DBN)

Celsius Network Wins Ownership Rights to Customer Crypto Deposits
(WSJ)

Bankman-Fried's parents have been physically threatened, his lawyers say • FTX's Former Top Lawyer Aided U.S. Authorities In Bankman-Fried Case • Here's the latest timeline of the FTX saga from Sam Bankman-Fried's shady balance sheet and a battle with Binance to pleading not guilty to fraud • FTX-Linked Robinhood Stake Worth $460 Million Is Seized by US • Explainer-What happens next in Sam Bankman-Fried's fraud case • U.S. Moves to Seize Robinhood Shares, Silvergate Accounts Tied to FTX • US DoJ Is Seizing Banking Assets, Robinhood Shares Linked to FTX, Court Told • Sam Bankman-Fried and his ex-girlfriend face another legal battle as class action lawsuit in California demands damages for 'one of largest frauds in US history' • FTX and SBF: Secret sources tell that Alameda Research was already insolvent in 2018
(DBN)

Coinbase to pay $50 million to settle NY state investigation, invest $50 million in compliance • Coinbase reaches $100 million settlement with New York regulators over compliance shortcomings
(DBN)

Genesis CEO tells clients the crypto brokerage needs more time to get its finances in order as Gemini's Cameron Winklevoss says the exchange is owed nearly $1 billion
(DBN)

SEC Files Limited Objection to Binance.US’s $1B Deal for Voyager Assets
(DBN)

Bitcoin Buckles, Bounces as Fed Signals More Aggressive Rate Hikes to Come
(DBN)

Aussies stung for millions in crypto crash
(DBN)

Critical Crypto-Securities Issue May Soon Come to a Head in SEC v. Ripple
(DBN)

Year of Bitcoin miners’ merge? Analysts predict key mining trends for 2023
(DBN)

The digital dollar is coming on the back of the FTX collapse
(DBN)

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Sovereigns:

IMF is pushing for debt resolution for Ghana, other debt distressed nations
(DBN)

Debt Payments Consume 80% of Nigeria’s Revenue Collection
(DBN)

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UK:

Winston & Strawn Adds Corporate Restructuring Partner Paul Fleming in London
(DBN)

Harry Claims Fistfight with William Over Meghan
(DBN)

Worst Day of Train Strikes Threatens to Bring Britain to a Halt
(DBN)

Sunak Plans Imminent UK Legislation to Crack Down on Strikes
(DBN)

BOE Says Outlook for Inflation and Wages Worsens for Businesses
(DBN)

UK Health Service Hits Breaking Point with Staff Shortages and Patient Surge
(DBN)

UK Won’t Recover Majority of Billion-Pound Covid Fraud Losses
(DBN)

British Pubs and Restaurants Forced to Cut Back Opening Hours
(DBN)

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EU:

European Restructuring and Distressed: 2022 in Review
(DBN)

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Canada:

Race to Recovery: Who Is Entitled to Insurance Proceeds when An Insured Professional Declares Bankruptcy?
(DBN)

CIBC ordered to pay $848 million damages to Cerberus, will appeal
(DBN)

Toronto Housing Market Slumps to Record Annual Price Drop
(DBN)

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China:

Chinese Builder Defaults on Bonds Despite State Help for Sector
(DBN)

So many people are dying from COVID in China that a crematorium is giving families 5 to 10 minute slots to mourn victims
(DBN)

China Extends Easing of Mortgage Rates on First Home Purchases
(DBN)

The Consequences of the US-China Blame Game Have Arrived
(DBN)

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Russia:

Putin is facing 'a quick military catastrophe' with his army in an impossible situation where both attacking or defending will cause further defeats
(DBN)

Russian commanders blamed for heavy losses in New Year’s Day strike • Russia blames use of banned cell phones for deadly Ukrainian attack • For Russian Troops, Cellphone Use Is a Persistent, Lethal Danger
(DBN)

France to deliver ‘light tanks’ to Ukraine • Scholz Faces Renewed Heat in Germany to Supply Tanks to Ukraine
(DBN)

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India:

Environmental Claims under Indian Insolvency Law: Concepts and Challenges
(DBN)

Contempt Under the Insolvency Code
(DBN)

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