June 2, 2023

The Daily Bankruptcy News

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

Format For Mobile Device



Law:

The Biglaw Firms That Saw Big-Time Revenue Gains In 2022
(DBN)

The Biglaw Firm With The Highest Increase In Gross Revenue
(DBN)

Law Firms Boost Parental Leave as Some Workers Remain Skeptical
(DBN)

Skadden tells lawyers to pull four days a week in the office, minimum
(DBN)

Clifford Chance infuriates staff by offering meal vouchers to lawyers only
(DBN)

Biglaw Firms Are Continuing To Grow Amid Dropping Demand Because Associates Aren't Quitting
(DBN)

Elite Law Firms Recognized As Some Of The Best For Women & Diversity (2023)
(DBN)

Law Firms Need To Get Lawyers Off ChatGPT And Onto Artificial Intelligence That The Firm Can Monitor
(DBN)

ChatGPT Tempts Big Law Despite AI Accuracy, Privacy Worries
(DBN)

Mayer Brown Chair Jon Van Gorp Shares His Thoughts On How First-Year Associates Can Succeed In Biglaw
(DBN)

‘Significant noncompliance’ in admissions standard for Pontifical Catholic found by ABA Legal Ed council
(DBN)

Ousted San Francisco DA Boudin Lands New Gig at Berkeley Law
(DBN)

NJ lawyer appears in court with fiancée in connection to Boston rape spree
(DBN)

'Legal Tech Lists': 5 Lawyer Tropes Upended By Legal Tech (Remote Litigation Edition)
(DBN)

Genetic genealogy leads to arrest of lawyer in series of rapes
(DBN)

‘Deranged leadership’: Oath Keeper who entered Capitol on Jan. 6 turns on Stewart Rhodes More Oath Keepers sentenced for Jan. 6 sedition Oath Keeper who guarded Roger Stone before Jan. 6 attack gets more than 4 years in prison Ex-FBI supervisor assaulted officers on Jan. 6, shouted 'Kill 'em' as rioters attacked police: Feds
(DBN)

Trump Lawyers Enter Circular Firing Squad Phase As Documents Indictment Looms
(DBN)

Expert: Trump Will be Charged with Espionage
(DBN)

Trump’s Criminal Defense Attorney Now Representing Him in Federal Probes
(DBN)

Trump was recorded acknowledging he kept classified doc after leaving White House Former Trump lawyer: Reported audio ‘eviscerates’ defense in documents investigation
(DBN)

US sues ex-Trump labor agency appointee over required financial disclosure
(DBN)

Pro-Trump conspiracy theorist Lin Wood faces contempt hearing for allegedly violating 'gag order'
(DBN)

Wisconsin governor to appeals court: Make 'Kraken' lawyer pay up for 'sanctionable' election suit
(DBN)

‘Political stunts’ to get ‘booked on Fox’: White House slams GOP effort to demand FBI document on Biden
(DBN)

Greene says McCarthy will release Jan. 6 tapes to three more outlets
(DBN)

Former candidate charged in shooting spree at New Mexico officials' homes
(DBN)

Worshiper describes fear during gunman’s deadly attack on Pittsburgh synagogue
(DBN)

Texas man urges Supreme Court to stay out of major Second Amendment case allowing domestic abuse defendants to have guns
(DBN)

Could Hunter Biden be the next poster child for Second Amendment rights? Hunter Biden lawyer deposes laptop shop owner
(DBN)

Former Trump Official Is Building a Legal Case Against Bud Light
(DBN)

Number of migrants crossing the southern border hits lowest point since Biden took office
(DBN)

Charges dropped against man who served 21 years in prison for deaths of 2 Michigan hunters
(DBN)

New Details of Jeffrey Epstein's Death Jeffrey Epstein sent letter to fellow pedo Larry Nassar from prison before suicide: docs Head of JPMorgan Chase says he never met Jeffrey Epstein, who kept millions at the bank for 15 years Barclays CEO Contradicts Jamie Dimon on Epstein Ex-JPMorgan executive wrote Epstein 'should not be a client' in 2011 email -deposition Epstein Victim Lawyers’ Fees in Deutsche Bank Case Questionedx
(DBN)

Police examining a 'number of items' recovered during new search for Madeleine McCann
(DBN)

Soap company CEO shoots CFO half-sister to death in business dispute: Prosecutors
(DBN)

______________

Judges:

Why Alito, Kagan recusal decisions at Supreme Court raised eyebrows
(DBN)

Supreme Court Cares Less About The Facts Of A Case Than Hungover 1Ls
(DBN)

Judge’s ‘Beowulf’ and Whistler’s mother references raise concerns with Maryland justices
(DBN)

Trump seeks recusal of judge presiding over his criminal hush-money case
(DBN)

Disney-DeSantis Lawsuit Transferred From Obama Judge to Trump Appointee
(DBN)

Judge who once prosecuted murder defendant fails to get colleague kicked off the case
(DBN)

Judge Ho Writes Entire Concurrence Just To Complain That English Language Has Synonyms For 'Alien'
(DBN)

'Take yourself out': Judge tells man who killed news anchor he should've just killed himself
(DBN)

Judge involved in Trump criminal case previously did work for a Trump entity
(DBN)

The Supreme Court Sleeper Case That Poses an Existential Threat to Artistic Freedom
(DBN)

______________

Wall Street:

Nasdaq and S&P 500 close at highest levels since August on optimism over debt ceiling bill
(DBN)

______________

Layoffs:

Wage hikes may have been a key driver of inflation. They may now be fueling mass layoffs
(DBN)

Disney Has Laid Off 7,000 Employees
(DBN)

______________

Autos:

How inflation and higher interest rates have reshaped car buying for many Americans
(DBN)

____________

Labor:

The Supreme Court deals another blow to labor unions
(DBN)

Gannett journalists plan workers strike
(DBN)

____________

Climate:

Wildfires threaten to undo decades of progress in fighting air pollution
(DBN)

Climate paradox: Emission cuts could ‘unmask’ deadly face of climate change, scientists warn
(DBN)

Climate-fueled insurance crisis hits California
(DBN)

Tropical Depression Forms on the First Day of Hurricane Season
(DBN)

____________

Coal:

‘Stretched to the limit’: Jim Justice’s shrinking coal empire pelted by legal attacks
(DBN)

____________

Fraud:

Supreme Court maintains focus on defendant’s subjective beliefs in False Claims Act cases
(DBN)

____________

Crypto:

Federal Reserve orders defunct crypto bank Silvergate to carry out wind-down process
(DBN)

____________

Agribusiness:

World’s wheat supply at risk of a dangerous shock due to heat and drought, study warns
(DBN)

____________

Religion:

Transgender Christian Confronts Pastor During Anti-LGBTQ+ Sermon
(DBN)

DeSantis’ Pastor Buddy Tweeted Bible Says Death To Gays
(DBN)

____________

Insurance:

10 states and scores of local governments sue FEMA over higher flood insurance rates
(DBN)

____________

Media:

Will Google’s AI Plans Destroy the Media?
(DBN)

____________

Entertainment:

Netflix Shareholders Reject Pay Packages for Top Executives
(DBN)

____________

Accounting:

PwC Contracts Frozen by $191 Billion Australian Pension Fund
(DBN)

____________

Tech:

FTC’s Khan Says Enforcers Need to Be ‘Vigilant Early’ With AI
(DBN)

____________


Economy:

ISM® Manufacturing index Decreased to 46.9% in May
(DBN)

Weekly Initial Unemployment Claims increased to 232,000 US weekly jobless claims rise slightly; labor market defies recession fears
(DBN)

ADP: Private Employment Increased 278,000 in May Private payrolls rose by 278,000 in May, well ahead of expectations, ADP says
(DBN)

The Golden Age of Retirement is Over
(DBN)

Deutsche Bank: Default Wave is Imminent
(DBN)

Defense spending levels threaten to delay Senate plan to fast-track debt ceiling bill Senate defense hawks hold up debt ceiling bill in protest of cuts, lack of Ukraine money The biggest policy changes in the debt ceiling deal, explained Schumer vows to keep Senate in session until debt ceiling bill passes Kaine introduces amendment to strip Manchin-backed pipeline from debt ceiling bill How Jim Jordan and Marjorie Taylor Greene helped McCarthy get his debt deal through Senate races to wrap up Biden-McCarthy debt ceiling deal before default deadline Bernie Sanders vows to vote against Biden and McCarthy's 'totally unnecessary' debt-ceiling deal, saying that the best thing about the bill is 'it could have been much worse' 2024 Presidential Candidates Side With Far Right on Debt Deal 5 winners and 5 losers from the debt ceiling deal A break-glass option, gumbo and a bike ride: How the debt ceiling deal got done The Senate passes the bipartisan debt ceiling bill, sending it to Biden's desk just days before the US defaults
(DBN)

International trade is slowing rapidly as the COVID recovery fizzles and globalization stalls, Fitch says
(DBN)

Signals that the Fed will skip a rate hike
(DBN)

The Fed's Inflation Fight Faces a New Challenge: A Dry Panama Canal
(DBN)

Traders More Comfortable With a Fed Pause as Key Jobs Data Looms
(DBN)

Corporate America's commitment to Pride Month under scrutiny Pride Month feels different as threats, fear of violence grows LGBTQ+ people flock to Florida for Gay Days festival
(DBN)

Workplace expert explains how CEOs are being dragged into culture wars
(DBN)

Yelp is down to one office in the U.S., as it leans into remote work
(DBN)

Greedflation? Companies boasted ‘unusually high profits’ after supply issues eased
(DBN)

Global Food Costs at 2-Year Low But Grocery Bills Stay High
(DBN)

Know any airplane mechanics? A wave of retirements is leaving some US industries desperate to hire
(DBN)

These are the 7 most hated brands in America—Elon Musk’s Twitter is No. 4
(DBN)

Teen birthrates hit another record low as progress starts to slow
(DBN)

Meta is requiring employees to come into the office 3 days a week, marking a sharp turn from the company's pro-remote work culture
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

Construction Spending Increased 1.2% in April
(DBN)

Inflation Adjusted House Prices 4.2% Below Peak; Price-to-rent index is 8.3% below recent peak
(DBN)

Florida homeowners face soaring insurance rates. Some say it’s a ‘man-made crisis’
(DBN)

The housing market faces a 'chicken and egg' problem that could mean home prices start to fall
(DBN)

Homeowners in these countries are facing the greatest risk of defaults from steeper mortgage payments, says IMF
(DBN)

House prices are declining in these 7 Western states while continuing to hit new heights across the rest of the country
(DBN)

Developers of failed River North tower file bankruptcy on brink of foreclosure
(DBN)

Residents of collapsed Iowa building were allowed to stay as reports noted crumbling wall Engineers Warned of Immediate Collapse
(DBN)

Commercial real estate will suffer a recession if banks don't start lending again, warns property billionaire Ross Perot Jr.
(DBN)

Phoenix Limits Construction as Water Disappears
(DBN)

____________

Municipalities:

PREPA bond claim hearing to argue bondholders' claim
(DBN)

Milwaukee hit with two-notch downgrade over budget pressures
(DBN)

____________

Oil/Gas:

Texas Battery Rush: Oil State's Power Woes Fuel Energy Storage Boom
(DBN)

____________

Awards:

Chambers USA 2023 - Bankruptcy/Restructuring Highly Regarded The Elite
(DBN)

____________

Healthcare:

Compass Medical closure sends shockwaves through already struggling health care system State looking into sudden closure of Compass Medical facilities Compass Medical closure surprises attorney who won $16M judgment against Quincy-based company
(DBN)

GenesisCare Files Bankruptcy With Plans to Sell US Business
(DBN)

This Nonprofit Health System Cuts Off Patients With Medical Debt
(DBN)

Woman who refused tuberculosis treatment is in custody months after an arrest warrant was issued
(DBN)

____________

Student Debt:

Meet the 'new predators in higher education' who are driving students deeper into debt
(DBN)

San Diego student loan company is making it easier to file for bankruptcy. Here’s why
(DBN)

Senate repeals Biden’s student debt relief, teeing up White House veto
(DBN)

____________

Banking:

How to prevent bank runs? Here’s a simple plan that the banks will hate
(DBN)

____________

Education:

‘Gradutate:’ Over 600 high school students receive misspelled stoles for graduation
(DBN)

California takes on Florida-style book bans
(DBN)

Poll: Americans say teachers are underpaid, about half of Republicans oppose book bans
(DBN)

As Supreme Court considers affirmative action, a former critic of the policy voices regret
(DBN)

32 Mississippi school districts still under federal desegregation orders
(DBN)

____________

Labor:

Supreme Court Rules Companies Can Sue Striking Workers for 'Sabotage' and 'Destruction,' Misses Entire Point of Striking SCOTUS guts union rights: Lone dissenter Ketanji Brown Jackson laments weakened right to strike Unions are relieved as the Supreme Court leaves the right to strike intact
(DBN)

UAW to Big Three: Reinstate cost of living, improve job protections and no concessions
(DBN)

____________

Pharma:

Cancer drug shortage is forcing doctors to decide which patients get treatment
(DBN)

____________

Fintech:

Money stored in Venmo and other payment apps could be vulnerable, financial watchdog warns
(DBN)

____________

Sports:

Bankruptcy judge orders Diamond Sports to pay MLB teams in full Guardians will get paid; judge orders Diamond Sports Group to honor TV contract for 2023 Judge: Diamond Sports must pay full value of contracts to Diamondbacks, Guardians, Twins, Rangers MLB Takes Over Padre Broadcasts After Bankrupt Bally Sports Parent Breaches TV Deal Diamond Sports Is Denied Discount on MLB Broadcast Rights - WSJ As MLB takes over Padres broadcasts, Rob Manfred lashes out at Sinclair
(DBN)

____________

Kitchenware:

Tupperware once changed women's lives. Now it struggles to survive
(DBN)

____________

Utilities:

Fire Victim Trust seeks to wrap up claims process by the end of the year, chief administrator says
(DBN)

____________

Golf:

Future of Prescott Preserve, planned for a 120-acre defunct golf course, hinges on grant money, lawsuit
(DBN)

____________

Hedge Funds:

Hedge Funds at War for Top Traders Dangle $120 Million Payouts
(DBN)

____________

 


New Bankruptcy Opinions
(1 new opinion today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (156 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (22 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

Bankruptcy Wave Builds as ATM Maker, Aerospace Supplier File
(DBN)

______________

Mass Torts:

Appeals court decision allowing release of Sackler family from opioid liability deepens circuit split
(DBN)

Second Circuit Affirms Permissibility of Nonconsensual Third-Party Releases in Purdue Pharma Bankruptcy Case
(DBN)

Sharp Condemnation of Sackler Family’s Immunity from Opioid Lawsuits
(DBN)

Johnson & Johnson’s 1st Post-LTL Bankruptcy Talc Trial Begins
(DBN)

____________

Bankruptcy Fees:

New Ruling on Remedy for Disparity in Bankruptcy Fees
(DBN)

____________

Subchapter V:

Recent Developments in Subchapter V of Chapter 11 of the Bankruptcy Code
(DBN)

____________

Venue:

Move Over, Delaware: Texas Takes Center Stage in Bankruptcy Surge - WSJ
(DBN)

____________

Aviation:

Aircraft parts supplier Incora files for bankruptcy
(DBN)

Go First’s insolvency tests India’s bankruptcy regime Go First Reportedly Submits Revival Plans To Regulator Indian carriers plan to fly in 115 jets to fill up gap left by Go First
(DBN)

Airlines Scour Globe for Capacity as Plane Shortage Takes Toll
(DBN)

Major Setback for SpiceJet! Know why court ordered airline to pay whopping Rs 380 crore to Kalanithi Maran of KAL Airways
(DBN)

US Fines British Airways $1.1 Million Over Covid Flight Refunds
(DBN)

____________

Retailing:

Watch Retailer Invicta Stores Declares Bankruptcy, Blames Landlords
(DBN)

Macy’s and Costco sound a warning about the economy
(DBN)

Dollar General stock plunges as ‘challenging’ economic backdrop drives dismal earnings report
(DBN)

Son of Home Depot worker savagely shoved to his death by serial shoplifter demands crackdown on organized retail crime
(DBN)

Beloved bridal retailer to close state’s 7 stores after filing bankruptcy as employees are unaware about future layoffs David’s Bridal store leases up for sale
(DBN)

____________

Banking:

Elizabeth Warren, J.D. Vance team up on bank CEO crackdown
(DBN)

____________

Politics:

Does Ron DeSantis actually champion Republican values? Ron DeSantis wants voters to know he’s not like Trump DeSantis starts to hone his attacks against Trump Porn stars vs. parenthood: Ron DeSantis plays the family card against Trump
(DBN)

Is indicted Chinese billionaire tycoon Guo Wengui secretly bankrolling George Santos's bail?
(DBN)

Unearthed Hunter Biden emails with Obama White House slammed by GOP: 'Worse than Watergate'
(DBN)

Christopher Rufo Launched the Critical Race Theory Panic. He Isn’t Done.
(DBN)

Republicans Don’t Really Want to Cut Spending
(DBN)

Mike Pence is a man without a constituency
(DBN)

How Christie could be wildcard in White House race
(DBN)

Are Sane Republicans Making a Comeback?
(DBN)

Kari Lake Appeals Another Court Loss
(DBN)

President Biden appears to fall at USAFA graduation ceremony, gets back up immediately
(DBN)

Aide fired by George Santos says he got his job after sending money to Republican’s deputy
(DBN)

‘Mass confusion.’ Rule threatening MO library funding over ‘obscene’ books takes effect
(DBN)

Some trans people turn to crowdfunding to leave Florida after anti-LGBTQ+ laws
(DBN)

Library cancels trans speaker after Montana bans drag readings
(DBN)

Voter Fraud Is Rare. But 15 Illegal Votes in Laredo Have Thrown the City Council Into Turmoil.
(DBN)

____________

Sovereigns:

IMF says Sri Lanka's economic recovery shows signs of improvement but challenges remain
(DBN)

Pakistan interested in another loan from IMF to revive economy: Report
(DBN)

____________

UK:

Job Crisis Looms: CBI Announces Layoffs to Reduce Wage Bill by 33%
(DBN)

UK House Prices Are Falling Again — And There’s More Pain Ahead
(DBN)

UK Government Killed Au Pair Industry, Leaving British Parents Desperate
(DBN)

____________

EU:

Europe's PE-backed companies brave bankruptcy storm
(DBN)

Violent Clashes Trigger Fears of New War in Europe - WSJ
(DBN)

____________

Russia:

Russia is spending surprisingly little on its war on Ukraine
(DBN)

Russian oil exports are at a post-invasion high. But which countries are buying?
(DBN)

Putin’s War Ignites Backlash Against Dollar Across the World
(DBN)

Putin is terrified of being assassinated and is refusing to travel abroad after a drone attack near his luxury home: reports
(DBN)

Pentagon awards SpaceX with Ukraine contract for Starlink satellite internet
(DBN)

In Ukraine, Russia is nearly down to its nukes
(DBN)

Biden shows growing appetite to cross Putin’s red lines
(DBN)

After a year of fighting in Ukraine, the brutal logic behind Russia's 'human wave' attacks is becoming clear
(DBN)

____________

MENA:

30,000 Israelis gather in Jerusalem for pride march amid heavy police presence
(DBN)

____________

Mexico:

Mexican police find 45 bags of human remains in search for missing call centre workers
(DBN)

____________

South Africa:

Steinhoff heads to court for restructuring approval
(DBN)

____________

BVI:

British Virgin Islands: Revisiting Exclusive Jurisdiction Clauses and the BVI High Court’s Winding Up Jurisdiction in view of Re Guy Kwok-Hung Lam
(DBN)

____________

Spain:

Spanish startup Jeff never closed a €90 million round, hasn’t paid employees for nine months, and is now filing for bankruptcy
(DBN)

____________

India:

Cong flags low debt recovery under Insolvency and Bankruptcy Code
(DBN)

____________

Brazil:

Debt holders of Brazilian retailer Americanas to rebuff recovery plan
(DBN)

____________

Japan:

Japan demographic woes deepen as birth rate hits record low Japan to Spend About $25 Billion on Families to Boost Births
(DBN)

Japan Workers Are Shifting From Lifetime Employment, LinkedIn Says
(DBN)

____________

China:

China Mulls New Property-Market Support Package to Boost Economy
(DBN)

Half of China Cities Face Debt Service Difficulty, Rhodium Says
(DBN)

Evergrande Unit Faces 1,426 Lawsuits Involving $49 Billion
(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 subptption 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 $74.00/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 phone or text us at 281-402-3957. You can email us 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