July 10, 2023

The Daily Bankruptcy News

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3-Column Formating

 

Law:

Biglaw Merger Effort Crumbles Nixon Peabody, Stroock Call Off Big Law Merger Talks
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July 7, 2023 Bankruptcy Quiz
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Stoel Rives Welcomes Bankruptcy and Insolvency Partner John Kaplan to Corporate Group in Seattle
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A Biglaw Firm Where Associates Brag About The Quality Of Their Work
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Themis Is Still Going Down As Grads Enter Bar Exam Home Stretch
(DBN)

Is California Brainstorming Ways To Get People To Hate The Bar Exam? This Price Hike Could Do It
(DBN)

Federal prosecutors team up with St. Louis circuit attorney to tackle backlog of criminal cases
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Employers not liable for spread of COVID-19 to workers’ homes, California high court says
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He Worked for Years to Overturn Affirmative Action and Finally Won. He’s Not Done The future of affirmative action in the workplace
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Activists want to disqualify Trump from ballot in key states under 14th Amendment
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Michael Cohen has a warning for Trump aide charged in Mar-a-Lago documents case
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Judge denies Justice Department request to block Trump deposition in lawsuits by ex-FBI officials
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Dozens of witnesses have testified as the Jan. 6-focused grand jury probes Trump
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Pro-Trump lawyer retires from law practice, leading state bar to drop ethics cases against him
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DC Bar Panel Recommends Permanent Disbarment For Wrecking Ball Rudy
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Rudy Giuliani Says He’ll Sniff Out The Person Who Left Cocaine At The White House
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Prosecutors in Trump Mar-a-Lago case facing threats, harassment: report
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Right-Wing Websites Connected to Former Trump Lawyer Are Scamming Loyal Followers With Phony Celebrity Pitches
(DBN)

Texas gunman in Walmart shooting gets 90 consecutive life sentences and may still face death penalty
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Internal Emails Show FBI Freaking Out About Deepfakes
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Texas floating border barriers will cause ‘imminent and irreparable harm,’ lawsuit claims
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2 dead, 5 injured after shooting at Texas party
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Washington state fined over $100M for failing to provide timely resources for mentally ill in jail
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Newsom will no longer contest parole of Charles Manson ‘family’ member
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This 45-year-old got pregnant where abortion is banned. The hardships she endured reflect a wider American reality
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Kentucky couple ‘furious’ state abortion laws meant they couldn’t hold their daughter to say goodbye
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How abortion bans will strain an already failing foster system
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Why Transgender Care Bans Lost in Court
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State laws targeting LGBTQ rights have a new foe: federal judges
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Three teens accused of murder after egging incident goes haywire: police A man confronted 3 teens trying to egg his house so they shot him to death, sheriff says
(DBN)

Commodities trader caught in DOJ probe ruined her own non-prosecution agreement by taunting the former colleagues she was helping to investigate
(DBN)

FBI to exhume body of woman featured on Netflix series 'The Keepers'
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Deputies Accused Texas Sheriff of Corruption
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Efforts underway to help formerly incarcerated people find and maintain jobs
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Georgia mayor arrested on burglary and trespassing charges
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Nail salon robbery goes awry as customers completely ignore demands
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Handcuffed suspect steals cop car, slams into semi-truck and dies after fiery crash
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Scooter-riding gunman captured after deadly mass shooting spree terrorizes NYC streets
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A judge rejected a couple's claim to a $3 million estate because black ink blobs on the will obscured their names
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Manhunt ongoing for accused killer who escaped from prison using bed sheets tied together
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Cocaine, Marijuana… Jellyfish? Cartels Muscle in on New Export Business
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Mississippi Says Poor Defendants Must Always Have a Lawyer. Few Courts Are Ready to Deliver.
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Judges:

‘Democracy is at risk’: inside the fight for supreme court reform
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Has the Supreme Court Gone Overboard in How It Favors Religion?
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John Roberts and Brett Kavanaugh Are Now the Supreme Court’s Swing Votes - WSJ
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The John Roberts Two-Step
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How John Roberts exhibited his power in the Supreme Court’s biggest decisions
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Look at What John Roberts and His Court Have Wrought Over 18 Years
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Where Clarence Thomas Entered an Elite Circle and Opened a Door to the Court Clarence Thomas’ friends from the elite Horatio Alger Association financed a documentary favoring the justice after the HBO film ‘Confirmation’ aired Anita Hill scandal
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The Most Baffling Argument a Supreme Court Justice Has Ever Made
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The Supreme Court Had A Few Surprises This Year. That Doesn’t Make It Moderate.
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The Supreme Court’s Affirmative Action Decision Is the Latest Effort to Erase Racism from Cultural Consciousness
(DBN)

Counting Down The Most Egregious Lies People Tell About The Supreme Court
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Federal judge hears Arkansas Ten Commandments monument case
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Lip-Syncing Judge In Hot Water Over ‘Inappropriate’ TikTok Videos
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The importance of staying angry at the Supreme Court
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Wall Street:

Stock futures are flat ahead of key inflation data this week
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Wall Street Soothsayers Are Bewildered About What’s Next
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Recharged Bond Rout Unnerves Investors - WSJ
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Layoffs:

Your School’s Next Security Guard May Be an AI-Enabled Robot - WSJ
(DBN)

Digital pharmacy startup Capsule lays off 13% of workforce
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Vince McMahon Told Stars They Could Be Gone Next Week Before Mass Layoff
(DBN)

Viaplay begins 1,000 layoffs amid restructuring
(DBN)

Tesla Starts China Layoffs
(DBN)

Houston ISD eliminating hundreds of central office positions, superintendent says
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Pitney Bowes to lay off 311
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Verily narrows its focus, laying off 15% of staff
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Politics:

Dems’ mission to stop a third-party presidential bid hits the Hill
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GOP declares war on ... Barbie
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Old yeller: Biden's private fury
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Christie Slams Trump, Wants Social Security Cuts
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The power of rage-based fundraising
(DBN)

Trump Vows to ‘Deny Entry to All Communists and Markers’ Into ‘Our Cunny’
(DBN)

My Pillow Guy Liquidating Industrial Equipment
(DBN)

DeSantis struggles to separate from Trump on policy when campaigning for 2024 We Investigated the Deepest, Darkest Corners of the Internet to Understand Ron DeSantis’ Bizarre New Video DeSantis Campaign Stalls as He Tries to Court Trump’s GOP Fans and Foes Alike - WSJ DeSantis tries to shift narrative after campaign criticism Trump in Las Vegas speech attempts to rally voters against DeSantis: ‘He’s highly overrated’
(DBN)

Republicans Set Iowa’s First-in-the-Nation Caucuses for Jan. 15
(DBN)

Why the Stop Trump effort all comes down to South Carolina
(DBN)

When is the optimal time for Biden to drop out of the race? Time for Joe Biden To Step Aside Biden says Democrats ‘not right or wrong’ about stepping aside due to age
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Nearly a quarter of Republicans say classified docs charges make them more likely to support Trump: poll
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Trump on Chinese base in Cuba: ‘I’d give them 48 hours to get out’
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GOP states quit the program that fights voter fraud. Now they’re scrambling.
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Arizona GOP lawmaker may have violated state ‘revenge porn’ law by tweeting pictures of Hunter Biden
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GOP plan targets foreign dark money for 2024
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Rail:

After deadly oil train wreck, change comes slowly for devastated city
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Music:

2 Live Crew’s termination rights dispute discussed in court
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Banking:

SVB Financial sues US FDIC to recover $1.93 billion seized in SVB rescue
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The American banking landscape is on the cusp of a seismic shift. Expect more pain to come
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Economy:

Yellen says recession ‘not completely off the table’ following latest jobs report
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Q2 GDP Tracking: Around 2%
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June Employment Report: 209 thousand Jobs, 3.6% Unemployment Rate Comments on June Employment Report
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Black unemployment rate jumps 1.3 percentage points since April
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Biden advisor defends stimulus and inflation surge: ‘The real cause was the global pandemic’
(DBN)

Slide in US Manufacturing and Energy Markets
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This is ‘the end of the beginning’ of the battle against inflation, economist says
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The much-predicted recession may not happen at all
(DBN)

This is what has to happen for the US to avoid a deep recession
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Baby boomers own pretty much everything - but millennials could be about to catch up
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On the Brink of Collapse? 12 States With the Highest Debt in the U.S.
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More Americans believe they'd get a raise if they asked
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Countries are so spooked by de-dollarization and the Western sanctions against Russia, they are increasingly moving gold assets back home for safekeeping
(DBN)

Looming UPS Strike Spurs Some Companies to Rethink Supply Chains
(DBN)

Higher Interest Rates Create Risks in These Six Market Areas
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Judge pauses NYC $18-per-hour requirement for delivery workers amid lawsuits
(DBN)

Wall Street's years of work-from-home partying in the Hamptons are finally over
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AAR: June Rail Carloads and Intermodal Decreased Year-over-year
(DBN)

Heavy Truck Sales Up 15% Year-over-year in June
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What is a microaggression? 15 things people think are fine to say at work — but are actually racist, sexist, or offensive.
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Trump’s Most Enduring Legacy Isn’t What You Think
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The states that pay the most in taxes and get the least benefits
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US Debt Clock
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World Debt Clock
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How People Really Live
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Real Estate:

Contiguous Condominiums Are Not “SARE”
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Realtor.com Reports Weekly Active Inventory Down 2% YoY; New Listings Down 21% YoY
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Canyon of zeroes: Lower Manhattan office rental market ‘suffering like no other’
(DBN)

Why isn’t the housing market behaving the way it’s supposed to?
(DBN)

The last thing my airplane commute is about is entitlement
(DBN)

The country's homebuilding hot spots, mapped
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Tampa Installer Banned for Life After Leaving Hundreds of Pools Unfinished
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Municipalities:

Puerto Rico bureau approves PREPA transfer to defaulting company
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Some cities are digging up water mains and leaving lead pipe in the ground
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Mass Torts:

Over 200 survivors of child sexual abuse can sue parishes again
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Is the Catholic Church evading justice?
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Student Debt:

Student debt: Democrats seek to galvanize young voters over Supreme Court ruling
(DBN)

New student debt plan likely to face wave of challenges
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Biden's Plan B on student loan forgiveness relies on Higher Education Act: What to know
(DBN)

Biden Administration Makes It Easier To Have Debt Discharged Through Bankruptcy
(DBN)

Meet a student-loan borrower with $101,000 in debt who doesn't have 'any hope' with Biden's new plan for loan forgiveness: 'I'm never going to be able to pay it down'
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Healthcare:

Bidenomics moves onto health care
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Appeals court allows Tennessee ban on gender-affirming care for minors to take effect
(DBN)

This Drug Holds Promise for Cult Survivors
(DBN)

July 7th COVID Update: New Pandemic Lows for Deaths and Hospitalizations
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History:

She Broke the News That the U.S. Catholic Church Sold Enslaved People. She’s Still Going to Mass.
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Outrage as Republican says 1921 Tulsa massacre not motivated by race
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Education:

Religious right gets blindsided by angry parents in a Southern California school district
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Tech:

Full Speed Ahead on A.I. Our Economy Needs It.
(DBN)

A Catastrophic Mutating Event Will Strike the World in 2 Years, Report Says
(DBN)

The Nightmare of AI in the 2024 Election
(DBN)

Meta’s Threads upends social media in less than 48 hours Could Meta’s Threads deal a knockout blow to Twitter?
(DBN)

Biden admin says judge's "vague" social media order causing "harm"
(DBN)

'Instant Death' Dangerous TikTok trends claim 4 lives in 6 months in Alabama as thrill-seekers break their necks and drown: officials
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Tourism:

Long Island shark attacks on record-setting pace after 5 swimmers bit so far this summer
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Crypto:

Distressed Crypto Specialist Thomas Braziel Sets Up Investment, Advisory Firm
(DBN)

Gemini is suing Digital Currency Group (DCG) alleging fraud against its creditors
(DBN)

Bitwise employees jump into bankruptcy case with claims for ‘stolen’ wages, deductions
(DBN)

Bankruptcy Rumors Rise As Huobi Exchange Suffers Drop In Balances And Web Traffic
(DBN)

Voyager Digital Sees $250 Million in Net Outflow Since Resuming Withdrawals
(DBN)

$30B stolen from crypto ecosystem since 2012: Report
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Maritime:

Here are all the signs that the imploded Titanic sub was doomed
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Retailing:

Bed Bath and Beyond Subsidiary Buy Buy Baby Sale Fails Another Well-Loved Retailer Says Bye-Bye Buy Buy Baby auction is canceled, but buyers are still interested in making a bid
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Bed Bath & Beyond is bankrupt and liquidating stores, so why has its stock gained over 350% since the beginning of May?
(DBN)

Christmas Tree Shops closing all 73 stores across 20 states after worsening finances
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Big Lots Enters Into $318M Sale Leaseback Amid Declining Economy
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Autos:

Record number of car buyers paying $1,000+ per month amid low vehicle inventory
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Unsold electric cars are piling up on dealer lots
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NHTSA Presses Tesla for More Records
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The cost of car repairs is surging amid widespread shortages
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Solar:

Tesla Solar Factory Not Living Up to New York's $1 Billion Investment
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Ride Hailing:

The couple mistakenly charged $29,994 for one Uber ride says the issue is resolved. But they won't take an Uber again.
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Maritime:

Ship Financing for “Green” Ships On the Rise, As Creditors’ Appetite for Ships With Conventional Technologies Wanes
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Celebs:

‘Clueless’ Britney Spears Receives Bankruptcy Warning Amid Financial Losses: "The Bills Are Pouring In"
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Katie Price tried flogging £45,000 wedding dress ahead of bankruptcy hearing
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Cruise Lines:

Why are the MSC Cruises restructuring after announcing Caribbean and European cruise dates?
(DBN)

Vantage Travel owes more than $170 million, bankruptcy filings show
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Hotels:

Hotels: Occupancy Rate Up 4.1% Year-over-year
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New Bankruptcy Opinions
(6 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (24 new filings today)
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Recent Ch. 11 Adversary Proceeding Filings (5 new filings today)
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Chapter 11 Bankruptcy Case Studies
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Bankruptcy Statistics:

Colorado bankruptcy filings climb 22% in June
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Arbitration:

Bankruptcy 's Arbitration Countercurrent and the Future of the Debtor Class
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Discharge:

The Fraudulent Misrepresentation and False Pretences Exception to the Bankruptcy Discharge: Balancing the Debtor’s Fresh Start with Confidence in the Credit System
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Cross-Border:

English Scheme and Dutch WHOA dual process used to achieve successful Vroon restructuring
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UST:

U.S. Trustee Program Implements Virtual Section 341 Meetings of Creditors in Several Regions
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Involuntary Bankruptcy:

Second Circuit Affirms Slashing of Unreasonable Fees In Dismissed Involuntary Bankruptcy Case
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Aviation:

Flight diverted to Oakland after AirDropped bomb threat
(DBN)

Expression of Interest sought in Go Airlines possible sale India's Go First airline seeks investor interest as part of insolvency process
(DBN)

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Climate:

Extreme heat wave bound for Phoenix and Southwest could be worst ever Extreme heat in Southwest could send temps toward 120 in Phoenix Earth saw hottest day yet Thursday, the fourth straight global record
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America's cruel summer
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Flash flooding in N.Y. triggers water rescues as storms slam Northeast
(DBN)

We’re experiencing Earth’s hottest weather in 120,000 years, and it’s just getting started
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What happens to your body in extreme heat
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Solar, wind energy keeping Texas power grids running amid weekslong heat wave
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Transit:

How the E.V. Revolution Could Help Bankrupt Public Transit
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These cities are ending fares on transit. Here’s why
(DBN)

San Francisco residents are stopping driverless cars in their tracks by placing cones on their hoods, after one of the vehicles killed a dog and others caused traffic chaos Are the wheels coming off Google's robot cars?
(DBN)

Volkswagen Is Testing Its Driverless Vehicles in Austin
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Education:

Attention turns to legacy admissions after affirmative action ruling
(DBN)

University rescinds reprimand for professor who failed student for using term ‘biological woman’
(DBN)

How new tactics have driven a spike in book ban attempts
(DBN)

Judge sides with Florida in challenge to rules about books in schools
(DBN)

Forty percent of Brown University students say they are LGBT, suggesting social contagion
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Food/Beverage:

The staying power of the Bud Light boycott
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Bicycles:

Is VanMoof facing bankruptcy?
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Sovereigns:

SL debt treatment: India to play 'constructive role' as co-chair of Creditors Committee
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IMF delays hold up Ethiopia’s debt talks
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10 Countries With the Most Government Debt
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Going broke and sinking, Nauru wants to mine the ocean floor
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UK:

Woking auditors confirm 'deep dive' timeline into bankrupt council's borrowing
(DBN)

Nearly half of UK adults ages 50-70 who retired in first two years of pandemic are in poverty: report
(DBN)

Thames Water raises £750m in battle against nationalization Thames Water secures $962 million from investors but says it will need more
(DBN)

Which Empire cinemas are closing? Company enters administration
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Canada:

Do Securities Commission Debts Survive a Bankruptcy Discharge? An Analysis of Poonian v. British Columbia (Securities Commission) (BCCA)
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Enhanced superpriority for farmers – Lenders beware
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Russia:

Record High Number Of Russians Bankrupt Since Beginning Of This Year
(DBN)

What are cluster munitions and why are they controversial? Sunak ‘discourages’ use of cluster bombs after Biden agrees to send munitions to Ukraine Unease as US Sends Cluster Bombs to Ukraine Supplying cluster munitions to Ukraine is controversial. A prominent Democrat says the US risks ‘losing our moral leadership.’ Vindman on cluster munitions: ‘From a practical standpoint, the president did the right thing’ Leading House Republican backs Biden on cluster munitions A Bankrupt Calculus: Sending Cluster Munitions To Ukraine
(DBN)

Furious Vladimir Putin sacks top general in charge of the war against Ukraine as he continues 'purge' of top brass following Wagner coup
(DBN)

‘We have ambitious plans’: Anti-Putin forces plan fresh attacks inside Russia
(DBN)

Wagner Group leader and ex-convict Prigozhin has lost the respect of Russian prisoners who now think he's a 'traitor,' activist says
(DBN)

Poland moves troops to eastern border amid Wagner fears
(DBN)

Biden says Russia's war in Ukraine must end before Kyiv can join NATO
(DBN)

Sweden is in the final stretch to NATO membership. But Turkey could yet derail it
(DBN)

Putin’s fall could be the domino that topples the world’s autocrats
(DBN)

US businesses were largest tax contributors to Russia among international companies in 2022: report
(DBN)

Zelenskyy brings home 5 Azov battalion commanders from Turkey
(DBN)

3 keys to peace as the war in Ukraine hits 500 days
(DBN)

Ukraine's Wounded Grain Giant Weathers War With Danube Exports
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MENA:

Israeli protests reignite as Netanyahu pushes new justice bill
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Israeli Security Cabinet votes to save Palestinian Authority from bankruptcy
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China:

‘Several Things Have Shocked Me’: An Ex-Insider on Business in China
(DBN)

U.S., China Start Talking Again, With Global Economic Order at Stake - WSJ
(DBN)

China property developer Kaisa faces Hong Kong lawsuit seeking to wind it up Chinese developer Kaisa hit by lawsuit over onshore bonds
(DBN)

The world is 'big enough' for both US and China to thrive even amid a simmering tech war, says Janet Yellen
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Kindergarten Attack That Left Six Dead Sparks Outrage in China
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India:

Experts Introspect Into 7 Years Of Insolvency & Bankruptcy Code
(DBN)

Goldman: India Will Beat US Economy by 2075
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Netherlands:

Number of bankruptcies rose sharply in the first half of the year
(DBN)

Temporary Transparency of Expedited Liquidation Act
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Dutch Gov't Collapses Over Immigration Policy
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Venezuela:

US Appeals Court Affirms Creditors’ Right to Sue Citgo Following Rejection of Venezuela’s Offer
(DBN)

Venezuela's opposition to propose using oil exports proceeds to pay creditors
(DBN)

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Germany:

German Businesses Bet Big on China, and They’re Starting to Worry
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France:

Challenges to a Trustee in Bankruptcy gaining recognition in a post Brexit landscape
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Japan:

27% of nursing homes in Japan face bankruptcy due to price hikes, survey finds
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