July 7, 2023

The Daily Bankruptcy News

View prior editions: Click Here
View prior case summaries: Click Here
Search prior headlines: Click Here
Search prior case summaries: Click Here

3-Column Formating

 

Law:

If Your Biglaw Firm Has The Urge To Merge, Better Do It ASAP
(DBN)

Health, Energy Deals Push Kirkland to Top of M&A Legal Advisers
(DBN)

Davis Polk elects new restructuring partner
(DBN)

Top Biglaw Firms Targeted In Global Cyberattack
(DBN)

What Law Firms Need To Know About Building A Modern And Secure Data Infrastructure
(DBN)

Kirkland, K&L Gates and Proskauer hit by ransomware attack
(DBN)

Law Firm Cyberattacks Grow, Putting Operations in Legal Peril
(DBN)

This Biglaw Firm's Kind Culture Continues To Impress Associates
(DBN)

Diversity: Make That Two Fine Messes
(DBN)

The Slippery Slope Of Ending Affirmative Action Has Moved On To Its Next Target: Women And 'Proxies For Diversity'
(DBN)

McElroy Deutsch accuses former CFO of stealing millions from firm, also faults his attorney wife
(DBN)

Lawyer censured for ‘testi-lied’ remark about witness testimony
(DBN)

UK: Labour MP reports lawyer to police for comment about lynching him
(DBN)

When a partner resigned from this firm, it said she was a client and demanded payment
(DBN)

In-house lawyers complain about pompous firms
(DBN)

Texas AG Ken Paxton Won't Be Testifying At 'Evil' Impeachment Hearing
(DBN)

Former FBI agent shares 3 things people with high emotional intelligence do when talking to others
(DBN)

DOJ, Hunter Biden team fight back on GOP probes
(DBN)

Judge rules Trump can be deposed in lawsuit from ex-FBI agent Peter Strzok
(DBN)

Man arrested near Obama home had several guns: DOJ
(DBN)

A New Poll on the Trump Indictments Has a Surprising Result
(DBN)

Trump valet Walt Nauta pleads not guilty in classified documents case Trump Valet in Classified Documents Case Pleads Not Guilty, Hires New Lawyer
(DBN)

Special counsel prosecutors inquire about chaotic Oval Office meeting
(DBN)

Man gets life sentence in rape of girl at center of Ohio abortion controversy
(DBN)

The Far Right Is Already Using the Philadelphia Shooting to Smear Trans People
(DBN)

Ex-Obama AG calls court decision on social media ‘stupid,’ ‘potentially dangerous’
(DBN)

Order limiting Biden officials’ social media outreach on shaky legal ground, experts say
(DBN)

Despite prevention efforts, fireworks were used to target people, police in Minneapolis
(DBN)

Houston teenager 'missing' for 8 years was at home the whole time, police say
(DBN)

Judge calls out 'evil' of teenager who beat Spanish teacher to death over failing grade
(DBN)

Florida bans driver's licenses of immigrants living in US illegally
(DBN)

‘We all stand together’: Sacramento Jewish and LGBTQ+ communities show solidarity amid hate
(DBN)

______________

Judges:

Federal judge refuses to recuse herself from case of accused NOLA priest
(DBN)

Federal Judge Defends Clarence Thomas in New Book
(DBN)

Dick Durbin slams Roberts for failing to make sure SCOTUS doesn't have the 'lowest ethical standards'
(DBN)

Supreme Court will decide whether SEC enforcement actions violate right to jury trial
(DBN)

Federal judge’s ‘people like you’ comments don’t require sentence reversal, 7th Circuit says
(DBN)

______________

Wall Street:

Stock futures are little changed as investors look toward Friday jobs report
(DBN)

Married father who works as top exec for multi-billion dollar Lazard investment firm is fired after acting 'inappropriately' at Fourth of July pool party
(DBN)

______________

Layoffs:

Warren, Booker Press Bed Bath & Beyond on Worker Severance Pay
(DBN)

Amdocs laying off around 2,000 employees, 6.5% of workforce, in another round of cutbacks
(DBN)

Women were disproportionately affected by the tech layoffs
(DBN)

More Americans apply for jobless benefits, but layoffs are not rising significantly
(DBN)

Christmas Tree Shops ghosting officials as they brace for hundreds of layoffs
(DBN)

______________

Tech:

Elon Musk Sends Legal Threat To Facebook And Once Facebook Finishes Laughing I'm Sure They'll Get Right Back To Him
(DBN)

The biggest hedge fund in the world says ChatGPT was able to pass its investment associate test - and it's like 'having millions of them at once'
(DBN)

Man Who Tried to Kill Queen With Crossbow Encouraged By AI Chatbot, Prosecutors Say
(DBN)

Rise of the robots: UN tries to tackle 'mind-blowing' growth of AI
(DBN)

AI robots could play future role as companions in care homes
(DBN)

Teen faces adult murder charges in McDonald's shooting after 'Stand Your Ground' rejected
(DBN)

Elderly mom posts 'HELP 911' sign to escape home where daughter held her prisoner: Cops
(DBN)

Dispute over TV volume turns doubly deadly, police say
(DBN)

____________

Climate:

June 2023 was the hottest on record, EU climate body finds Heat Records Fall Around the Globe as Earth Warms, Fast
(DBN)

Temperatures to surge well past 110 in Southwest Phoenix to get even hotter next week. These temps might break 50-year weather records
(DBN)

What Climate Change Has to do With the Looming UPS Union Strike
(DBN)

As Heatwaves Scorch the U.S., How Hot Is Too Hot for Humans?
(DBN)

What 120 Degrees Looks Like in One of Mexico’s Hottest Cities
(DBN)

Chinese scientists spread white sheets on melting glaciers to try and shield them from the sun
(DBN)

Is China really leading the clean energy revolution? Not exactly
(DBN)

____________

Maritime:

OceanGate suspends all exploration and commercial operations after Titan implosion
(DBN)

____________

Fraud:

Attorney General’s Office searches offices of bankrupt Madison County investor accused of ‘Ponzi’ scheme
(DBN)

____________

Celebs:

Judge Tosses 50 Cent’s $32M Malpractice Lawsuit That Stems From Rick Ross Feud
(DBN)

Danny Trejo Fighting to Save $1 Million Mansion From Being Seized in Bankruptcy, Actor Promises to Pay Back Debt
(DBN)

Katie Price's money woes as she faces bankruptcy hearing over £3.2m debt today
(DBN)

____________

Awards:

The Legal 500: Restructuring
(DBN)

____________

Coal:

Old Coal Plants Get A Green Energy Facelift
(DBN)

____________

Media:

iMedia Brands Receives Nasdaq Delisting Notice Following Chapter 11 Filing
(DBN)

____________

Economy:

The Fed's own economists don't know if the US will escape a recession or not. They say it's basically a coin toss.
(DBN)

Americans Have Quit Quitting Their Jobs - WSJ
(DBN)

Biden yanks pro-growth label from Republicans, touts vigor of economy
(DBN)

Traders Brace for US Payrolls With Global Yields at 15-Year High
(DBN)

BLS: Job Openings Decreased to 9.8 million in May U.S. job openings dip to 9.8 million but remain high, showing resilience in labor market
(DBN)

Does the Fed have the labor market all wrong?
(DBN)

June Employment Preview
(DBN)

US Job Market Shows Fresh Strength With ADP and Layoff Data
(DBN)

The job market's pain-free rebalancing
(DBN)

US Services Activity Expand by Most in Four Months on Stronger Demand
(DBN)

Fewer Small Businesses in US Are Raising Employee Pay
(DBN)

The US States Where Jobs Are Paying More
(DBN)

2-year Treasury yield hits 16-year high after ADP jobs data shatters expectations
(DBN)

Fed Needs to Hike Rates a Bit More, Taylor Rule’s Creator Says
(DBN)

Fed’s Logan Says More Rate Hikes Needed to Slow Hot Inflation
(DBN)

Here’s what Americans say they need to earn to feel rich, or even just financially secure
(DBN)

Disappointing Credit Market Returns Add Fuel to Bearish Bets
(DBN)

ADP: Private Employment Increased 497,000 in June Private sector companies added 497,000 jobs in June, more than double expectations, ADP says
(DBN)

Weekly Initial Unemployment Claims Increase to 248,000
(DBN)

Trade Deficit Decreased to $69.0 Billion in May
(DBN)

Fed minutes offered zero sign of dovishness - and higher interest rates are a 'silent killer' to US economic growth, Bleakley CIO says
(DBN)

'Big Short' investor Michael Burry predicted inflation would plunge - but his calls of a stock-market crash and recession are yet to come true
(DBN)

America’s two-tier labor system is a glaring outlier among wealthy nations
(DBN)

If your faith makes you discriminate at work, change jobs
(DBN)

Workers who were laid off during maternity leave say it felt "unfair," struggle to find new jobs
(DBN)

Nouriel Roubini says the idea that BRICS countries will create a new world order is wrong as they are a ‘mishmash’ of systems
(DBN)

Brand Reputations: Ranking the Best and Worst in 2023
(DBN)

Medical Expenses Will Rise By 7% Next Year, Report Predicts
(DBN)

Historically Low Faith in U.S. Institutions Continues
(DBN)

Class 8 Orders Quiet Again in June
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

Longbridge scoops up big MSR portfolio from RMF bankruptcy
(DBN)

Commercial Mortgage REITs: Tax Considerations When Dealing with Distressed Mortgage Loans
(DBN)

Mortgage rate soars to 7.22% after strong economic data
(DBN)

Early Look at Local Housing Markets in June
(DBN)

Mortgage demand drops to lowest level in a month as interest rates rise
(DBN)

Here are the 10 most expensive places to buy a home
(DBN)

Texas Luxury Student Dorm Financed by Bonds Falls Deeper Into Distress
(DBN)

____________

Municipalities:

'Then we'll go bankrupt': Milwaukee residents bristle at 2% sales tax path to stave off financial crisis
(DBN)

Detroit’s Resurgence a Decade After Bankruptcy
(DBN)

Jefferson County still paying for money buried 20 years ago
(DBN)

____________

Oil/Gas:

Alpine Summit Energy Files for Bankruptcy After Restructuring Efforts Stalled - WSJ
(DBN)

Oil and gas executives want us to accept climate change so they can keep profiteering
(DBN)

____________

Politics:

RFK Jr.’s campaign hauls in $3 million in three days
(DBN)

Pence defends actions to pro-Trump voter who confronts him over Jan. 6
(DBN)

Trump Begins to Sour on ‘Spotlight Hound’ Kari Lake for VP
(DBN)

May Trump Soon Reach His Waterloo - WSJ
(DBN)

Tuberville is Alabama's Emperor with No Clothes
(DBN)

Trump lashes out at Biden family, media after cocaine found at White House McEnany breaks with Trump: ‘No way’ cocaine at White House is Hunter Biden’s Cocaine in the White House: a brief history
(DBN)

Florida GOP will require DeSantis, Trump to sign loyalty pledge to make primary ballot
(DBN)

Marjorie Taylor Greene ousted from conservative House Freedom Caucus, Republican lawmaker says
(DBN)

DeSantis’s 2024 Run Brought in $20 Million in Second-Quarter, Trailing Trump
(DBN)

Bypassing Biden: Democrats Think of What Could Have Been
(DBN)

The new power couple taking on Wall Street: J.D. Vance and Elizabeth Warren
(DBN)

The Leader of the JFK-QAnon Cult Is Dead. His Followers Think It’s All Part of the Plan.
(DBN)

Cocaine found in the White House was in a different location than previously reported, sources say
(DBN)

FactCheck: “The fact is, today abortion law in the United States is more aligned with China and North Korea than with Western nations in Europe.”
(DBN)

____________

Religion:

1 in 5 United Methodist congregations in the U.S. have left over LGBTQ conflicts
(DBN)

____________

Retailing:

Department Store Chain Belk Warns of Lower Sales, Rising Debt Costs
(DBN)

Beloved Retail Chain Likely Faces Liquidation
(DBN)

____________

Healthcare:

Biden wants to roll back Trump’s expansion of short-term health insurance plans Biden administration targets unexpected health costs
(DBN)

Private equity bought up anesthesiology practices, then raised prices
(DBN)

Florida is one of two states declining federal waivers to help with Medicaid unwinding
(DBN)

____________

Sports:

We’re in a Golden Age of Illegal Sports Streams
(DBN)

Can Jake Paul save bankrupt KingPyn? Here's what we know about MVP's cryptic tweet
(DBN)

____________

Cruise Lines:

The assets of bankrupt Vantage Travel draw interest
(DBN)

____________

Mail:

It May Not be Safe to Mail Checks Anymore
(DBN)

____________

New Bankruptcy Opinions
(3 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Adversary Proceeding Filings (14 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

US bankruptcy filings surge in first half of 2023 Corporate Bankruptcies Surged in the First Half of ’23, With Consumer Companies Leading the Way
(DBN)

54 new US corporate bankruptcies take H1 tally to highest level since 2010
(DBN)

______________

Cross-Border:

Cross-Border Restructurings: The Interplay Between Chile and the United States
(DBN)

____________

Third Party Releases:

Second Circuit Joins Circuits Allowing Nonconsensual Third-Party Releases In Chapter 11 Plan
(DBN)

____________

IP:

Bankruptcy and Trademarked Inventory: Potential Pitfalls for the Asset-Based Lender
(DBN)

____________

Constitution:

Guidance From Justices Gorsuch and Jackson on “Excessive Fines” Under U.S. Constitution (Tyler v. Hennepin County)
(DBN)

____________

Bankruptcy Crimes:

Hiding 'Dukes of Hazzard' car leads to federal conviction for Wisconsin man
(DBN)

____________

Mass Torts:

Georgia-Pacific Ruling Furthers Texas Two-Step Challenges
(DBN)

Mallinckrodt delays $200M settlement payment again as it mulls bankruptcy
(DBN)

____________

Aviation:

SpaceX Satellites Caused 25,000 Near Misses
(DBN)

Singapore arbitration court tells P&W to supply engines to Go First Respect ruling: P&W on court order asking it to send 5 engines to Go First
(DBN)

Go First insolvency: Appeal filed against single-judge order allowing aircraft lessors access to planes Go First to challenge Delhi High Court order restricting removal of plane parts Go First RP, lessors slug it out in court over 'right' to fly planes
(DBN)

Appeal dismissed in creditor attempt to wind up foreign state airline
(DBN)

Creditor share swap deal for Philippine Airlines
(DBN)

Alaska Airlines flight diverted after passenger makes 'direct threat' to plane's safety
(DBN)

____________

Student Debt:

Student debt: White House faces backlash for restarting interest on loans
(DBN)

Inside Joe Biden’s new student loan repayment plan
(DBN)

____________

Accounting:

Australia urged to cut ties with Big Four firms amid PwC scandal
(DBN)

____________

Agribusiness:

Scientists Raise Alarm Over Risk of 'Synchronized' Global Crop Failures
(DBN)

____________

Autos:

Ford’s U.S. Sales Rose 10% in the Second Quarter
(DBN)

Tesla and Chinese rivals signal EV price war truce in ‘socialist values’ pledge
(DBN)

Everyone Has ‘Car Brain’
(DBN)

____________

Crypto:

Taylor Swift agreed to FTX partnership, but the crypto exchange bailed, source tells CNBC
(DBN)

Tom Brady and Gisele Bundchen lose $48 million after FTX bankruptcy
(DBN)

Genesis’s $2B dispute with FTX threatens to derail creditor payouts. Judge Forces Genesis And FTX Back To Negotiation Table Over $2 Billion Claim
(DBN)

Binance executives exit as the regulatory heat on the largest crypto exchange intensifies
(DBN)

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

Bittrex may still face enforcement action in Florida amid bankruptcy
(DBN)

The Staff at Binance, Coinbase, and Gemini are Some of the Least Happy
(DBN)

____________

Television:

‘Landmark’ Bid Filed to Take Fox Station Off the Air for Election Lies
(DBN)

____________

Food/Beverage:

Tattooed Costco Shoppers' Favorite Plant-Based Brand is Filing for Bankruptcy
(DBN)

____________

Sovereigns:

Sri Lankans jump ship as a bankrupt nation struggles SL Parliament appoints panel to probe causes of financial bankruptcy 'No Second Chance' To Save Sri Lanka, Central Banker Warns
(DBN)

____________

UK:

Bank of England Orders Staff to Work Two Days a Week in Offices
(DBN)

____________

EU:

Nazi Jokes and KKK References Leave Europe’s Newest Government In Chaos
(DBN)

____________

Canada:

Insolvency Bull Market
(DBN)

____________

Russia:

US in mad dash to get Sweden into NATO over opposition by Turkey, Hungary
(DBN)

Russia said it raided Wagner boss' home and found gold bars, wigs, and a trove of weapons Prigozhin’s fate remains unclear and it signals more trouble in Russia
(DBN)

US to Provide Cluster Bombs to Ukraine
(DBN)

Ruble crashes further as Wagner's Yevgeny Prigozhin is said to be back in Russia after mutiny
(DBN)

Captured Russian soldier said commanders were high on painkillers and gave 'nonsensical orders' like sending them out under mortar fire
(DBN)

Russia is 'accepting risks' and dropping its guard against other threats to hold its ground in Ukraine, British military says
(DBN)

Russia 'On the Edge of Civil War'—Ukraine Spymaster
(DBN)

Former U.S. officials have held secret Ukraine talks with prominent Russians
(DBN)

Zelenskiy Makes Diplomatic Tour as Ukraine Seeks a Path to NATO
(DBN)

Ukraine's wounded grain giant weathers war with Danube exports
(DBN)

____________

China:

China's banks bear brunt of concerns around growth and debt
(DBN)

Chinese EV startup Singulato Motors to face bankruptcy proceeding procedure
(DBN)

Janet Yellen arrives in Beijing on mission to find common ground for U.S. and China
(DBN)

____________

India:

Stakeholders seek clarity on bankruptcy board's 'single voting' plan
(DBN)

____________

MENA:

Iran's Revolutionary Guards seize commercial ship in Gulf
(DBN)

Israel Shells Lebanon Amid Fears of Multifront Escalation
(DBN)

____________

South Korea:

Gov't to provide liquidity to MG Community Credit if necessary
(DBN)

____________


The Daily Bankruptcy News is primarily a curated news link gathering service.   Most of the headlines contained in the publication are a collection of links to stories posted on the Internet by various third party publications.  Such content is owned by third party sources, not The Daily Bankruptcy News, and in some cases, these links change or expire, which means you may not be able to view some news stories in prior editions of the Daily Bankruptcy News. The DBN subscription fee is not a fee for access to the content of the links, but is a charge for the considerable work involved in gathering, organizing and presenting the links. Use of this site and The Daily Bankruptcy News is subject to our Terms of Use. If you received The Daily Bankruptcy News via email (and you have a paid subscription account), to view a news story, click on the headline, and the story should open in your web browser. To view additional stories, click back to the email and click on additional headlines, which will cause new stories to open in your web browser.  You can view the most recent edition of The Daily Bankruptcy News on the web at BKInformation.com.

Advertising
Advertising is available in The Daily Bankruptcy News. Click here for details  Feel free to contact us with any questions.

Passwords/Subscriptions
Access to certain links in The Daily Bankruptcy News is available only to readers holding a paid service subscription. These links are currently marked with a "DBN" notation. The cost of a subscription is $69.00/year, payable annually.  Volume discounts are available for sites with multiple users. Click here to see a schedule of discounts. Complimentary subscriptions are available for full-time educational and governmental employees and for full time students. For information about discounts or educational/governmental subscriptions, contact us by clicking here. A separate password is required for each member of a firm wishing access to restricted links.

New readers can receive a free password good for 30 days by clicking here. 30-day passwords are not available to readers who have previously had a password, even if the password was associated with a different email address used by the reader. Refunds are not available after purchase.

Readers who wish to change their passwords should click here. Readers who have forgotten their password should click here.

Adding Your Email Address To The Distribution List
If you would like to start receiving The Daily Bankruptcy News by email each day, click here, and fill in the information requested. There is no charge to be placed on the distribution list to receive the headlines, although access to many of the links behind the headlines requires a paid subscription (see above, under Passwords). If, after adding your email address to the distribution list, you do not receive an email confirming the addition, please contact us by clicking here for help.

Removing Your Email Address From The Distribution List
If you already receive The Daily Bankruptcy News by email and you wish to remove your email address from the distribution list, click here and send the email that should appear. You do not need to type anything in the body of the email message. Note that the email asking for removal must be sent from the same email address which is on our distribution list. If you do not receive an email confirming deletion of your email address from the distribution list, contact us by clicking here for help.

If receive the publication forwarded from an older email address, you will need to contact us as described below for help removing that older address from our distribution list.

Press Releases/News Tips
Please send press releases and news tips to admin@bkinformation.com

Contact Us
The Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C. You can reach us at 281-402-3957 or at accounting@bkinformation.com (email inquiries are usually answered substantially more quickly than phone inquiries). Our mailing address is 935 Eldridge Road, No. 350, Sugar Land, Texas 77478.

Copyright 2023