June 27, 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:

Lawyers who ‘doubled down’ and defended ChatGPT’s fake cases must pay $5K, judge says Judge in ChatGPT case most troubled by attorneys’ lack of candor
(DBN)

Bankruptcy Quiz
(DBN)

Partner's Name Isn't On The Door... It's On The Whole Practice Area
(DBN)

In the language of layoffs, a few law firms stand apart
(DBN)

LA County Fires Lewis Brisbois Over Racist Emails... From Lawyers Who Left The Firm... That The Firm Disclosed To The Public
(DBN)

Pyrrhic Victory Or Not, O'Melveny Wants Their $139 Million
(DBN)

Compensation Watch ’23: Go To Law School, Young Man
(DBN)

Law School Professor Sues School After What Sounds Like A Whole Lot Of Retaliation
(DBN)

California Lawyers Only Have Two Months Before They Have To Rat On Their Colleagues
(DBN)

Clerk was properly ousted for rear-end dial to magistrate, other transgressions, court says
(DBN)

Leadership, growth and profitability in a post-pandemic era explored in new report
(DBN)

Convicted double murderer elbows defense lawyer in head on day of sentencing
(DBN)

McCarthy threatens Garland with impeachment inquiry
(DBN)

Stop Calling It A 'Slap On The Wrist' Just Because The Media Hyped It Up More Than It Deserved Why Wesley Snipes and Kodak Black went to prison, but Hunter Biden likely won’t
(DBN)

TX: Father, Son Sentenced for Jan. 6 Riot
(DBN)

CNN Says It Has Tape of Trump Discussing Classified Documents Leaked audio of Trump saying he has a 'secret' document that he knows he can't declassify is 'even more damning than it reads in the indictment,' one expert said Judge schedules July 14 hearing on how classified materials will be handled in Trump documents case
(DBN)

News organizations ask court to reveal witness list in Trump documents case Judge: Witnesses Against Trump Can't be Secret
(DBN)

Five or six Secret Service agents have testified before Jan. 6 grand jury, sources say
(DBN)

JPMorgan Chase $290 million settlement with Epstein accusers wins preliminary approval
(DBN)

DeSantis asks federal judge to dismiss Disney suit, claiming broad immunity
(DBN)

Fighting darkness with light: Community united after Neo-Nazi rally at synagogue
(DBN)

Club Q shooter sentenced to life in prison for attack on gay nightclub
(DBN)

Arizona governor signs order barring local prosecutors from handling abortion prosecutions
(DBN)

New York governor signs 'safe haven' law for transgender youth
(DBN)

'Insufficient evidence' to charge murder against woman who shot Black neighbor: Prosecutor
(DBN)

Teen stabbed mom after fight over his 'life choices,' dog's health problems: Cops
(DBN)

Homeschooling parents tried to starve and hide son so no one knew he existed: DA
(DBN)

Drove Tesla Over Cliff, Lost Medical License
(DBN)

Anti-LGBTQ Threats in US Drive Danish Firm to Erase Rainbow Logo
(DBN)

Bryan Kohberger's attorney alleges there is 'no connection' between him and Idaho student victims Death penalty sought for Bryan Kohberger; defense claims no victim DNA found in home, car
(DBN)

______________

Judges:

Judge Howell Reminds Rudy Giuliani That Her Courtroom Is Not Some Landscaper's Parking Lot Outside Philly
(DBN)

Supreme Court paves the way for Louisiana congressional districts to be redrawn
(DBN)

Supreme Court leaves prisoner without recourse on his statutory innocence claim
(DBN)

Supreme Court tosses Trump DC hotel records case
(DBN)

Supreme Court declines to hear case on charter school dress code
(DBN)

Samuel Alito’s Wife Leased Land to An Oil and Gas Firm While the Justice Fought the EPA
(DBN)

Sam Alito Defenders Explain How Private Air Travel & $1000 Wine Are JUST LIKE Free Cookies And Plastic Easter Eggs
(DBN)

How Judges Navigate Offers of Free Lunch, Trips and NBA Tickets
(DBN)

US Supreme Court won't reconsider ruling by judge facing competency probe
(DBN)

______________

Wall Street:

Stock futures rise slightly as investors await economic data in run-up to month, quarter end
(DBN)

The U.S. IPO market is back
(DBN)

______________

Layoffs:

Ford to Cut Hundreds of US Salaried Workers to Lower Costs Ford conducts engineering layoffs in U.S. and Canada
(DBN)

KPMG to cut 5% of US jobs in fresh round of layoffs
(DBN)

Amazon’s New Robots Are Rolling Out an Automation Revolution
(DBN)

2023 Layoff Tracker: KPMG, Robinhood, Goldman Sachs Reportedly Cutting Hundreds
(DBN)

PMorgan Slashing 40 IB Positions in North America
(DBN)

Illumina starts job cuts, plans office exit to rein in costs
(DBN)

Payoneer to part with 200 employees
(DBN)

______________

Retailing:

Bed Bath & Beyond stock jumps nearly 40% as bankrupt retailer cuts debt
(DBN)

The Foreman Mills Tragedy
(DBN)

____________

Banking:

Banks Face Growing Capital Scrutiny With Stress Tests Up First
(DBN)

Top Federal Reserve official slams coming banking proposals
(DBN)

Sherrod Brown strikes banking deal with Tim Scott, Elizabeth Warren and J.D. Vance
(DBN)

Lawmakers push major banking reforms following near collapse of financial sector
(DBN)

Banks will suffer 2008-style losses if inflation isn't controlled, top banking expert says
(DBN)

____________

Maritime:

A submarine expert desperately tried to dissuade his friend, OceanGate CEO Stockton Rush, from taking customers in the Titan submersible, warning him against ‘succumbing to pressures of your own creation,’ new emails show
(DBN)

____________

Climate:

Extreme heat affects 45 million people from Southwest to Miss. Valley
(DBN)

Deadly Texas heat is spreading, and it will only get hotter
(DBN)

Extreme heat means two-thirds of North America could suffer blackouts this summer
(DBN)

Humans approaching limits of ‘survivability’ as heatwaves engulf parts of Asia
(DBN)

Almost 400k without power across southern U.S. amid dangerous heat wave
(DBN)

Can't find Sriracha? Here's why the shortage is a sign of our harsh climate reality
(DBN)

India’s June Heat Wave Deaths Are a Harbinger of Worse to Come
(DBN)

‘It’s absolutely guaranteed’: the best and worst case scenarios for sea level rise
(DBN)

____________

Healthcare:

Americore trustee, crediting firm dispute bankruptcy case
(DBN)

NIHD on brink of bankruptcy
(DBN)

____________

Celebs:

Boy George facing bankruptcy as firm goes bust
(DBN)

Bankrupt Security Expert Allegedly Tried To Burgle Simon Cowell's Home He Previously Worked On
(DBN)

__________

Economy:

Average American Has Over $54,000 In Debt
(DBN)

Your employer may be quiet quitting on you
(DBN)

Four High Frequency Indicators
(DBN)

Why the World Is on the Brink of Great Disorder
(DBN)

Morgan Stanley Sees Fed Hiking Rates in July After Powell Speech
(DBN)

Markets are pricing in rate cuts too soon, IMF’s Gopinath says
(DBN)

Americans expect to need nearly $1.3 million to retire comfortably, study says. Find your ‘magic number’
(DBN)

What it’s like to live on $30,000 or less in Seattle, Long Beach, and NYC
(DBN)

The misery index is falling fast
(DBN)

Warren Buffett's global market gauge soars to nearly 110%, signaling stocks are overvalued and might crash
(DBN)

A debt deal twist is shifting Congress’ shutdown gameplan
(DBN)

Mondays Are the New Office Fight - WSJ
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

Bankruptcy judge approves Westside’s $102M purchase of Banyan Cay Resort
(DBN)

Housing June 26th Weekly Update: Inventory Increased 2.0% Week-over-week
(DBN)

Fannie and Freddie Serious Delinquencies in May: Single Family Declined, Multi-Family Increased
(DBN)

The multibillion-dollar lawsuits that could radically reshape how we buy and sell homes forever
(DBN)

A tight housing market pushed room-for-rent costs 23% higher last year
(DBN)

Evictions soar as landlords hike rents
(DBN)

Florida Sells Bonds to Backstop Its Homeowner’s Insurance Industry Why it’s becoming harder and more expensive to get homeowners insurance
(DBN)

____________

Municipalities:

Judge rules in favor of Detroit to extend police, fire pension payments over 30 years Bankruptcy court judge sides with Detroit on pension dispute
(DBN)

New York congestion pricing to get federal green light, New Jersey lawmakers say
(DBN)

Rep. Haywood says city sales tax will help 'save the city from insolvency'
(DBN)

Why Californians are leaving
(DBN)

Iowa's tax breaks lead to a city, county cash crunch
(DBN)

____________

Oil/Gas:

The $75 Billion Climate Solution That’s a Bargain
(DBN)

Renewables growth did not dent fossil fuel dominance in 2022, report says
(DBN)

____________

Religion:

Church Attendance Still Lower Than Pre-Pandemic
(DBN)

____________

Student Debt:

The fate of millions of student-loan borrowers is set to be decided this week
(DBN)

____________

Agribusiness:

Doubts About Lawful Possession of Cattle Prevent Perfection of Veterinary Lien
(DBN)

____________

Autos:

Lordstown Motors files for bankruptcy and sues former partner Foxconn Lordstown Motors Files For Bankruptcy, Sues Foxconn For “Irreparable Harm” EV Startup Lordstown, Once an Ohio Town’s Savior, Files for Bankruptcy - WSJ US Truck Startup Lordstown Files for Bankruptcy After Foxconn Deal Falls Through Lordstown Motors stock plunges 52% after bankruptcy filing
(DBN)

As Lordstown Motors collapses, Mullen Automotive, Canoo could be next
(DBN)

Goldman Sachs slaps Tesla with another downgrade
(DBN)

____________

Student Debt:

The restart of student loan payments is going to pressure the strong US consumer, as 34% of borrowers say they'll be unable to make payments
(DBN)

Student Loan-Relief Backers Warn Biden ‘Failure Isn’t an Option’
(DBN)

How to find student loan information before payments resume
(DBN)

What Student Loan Relief Looks Like Around the World
(DBN)

____________

Insurance:

Is QT making D&O Policies a Liquid Asset?
(DBN)

FIGA Sells Muni Bonds to Keep Up with Insolvent Insurer Claims
(DBN)

____________

Hedge Funds:

Odey Suspends Flagship Hedge Fund After Redemption Pressure
(DBN)

____________

Tech:

Big Tech Companies Want AI Regulation — But On Their Own Terms
(DBN)

Mizuho Rolls Out Generative AI to All 45,000 Bank Staff in Japan
(DBN)

The 2024 presidential race is the AI election
(DBN)

____________

Politics:

DeSantis vows to end birthright citizenship as part of immigration plan ‘It’s just stupid’: DeSantis stumbles in New Hampshire Ron DeSantis vows to send the military to block drugs from reaching Mexican ports
(DBN)

Inside the House's right-wing schism
(DBN)

House Republicans think Democrats' abortion rights strategy could backfire The one issue Republican presidential candidates don’t want to talk about "It's gotten much more complicated": GOP's post-Roe abortion catch-22
(DBN)

Trump touts Dobbs decision to cheers at Faith & Freedom
(DBN)

Manchin says Biden broke climate deal. Others say ‘there was no such agreement’
(DBN)

Sarah McBride launches historic bid to become first trans member of Congress
(DBN)

GOP presidential field embraces Trump's border wall
(DBN)

NBC News poll: Kamala Harris hits record low for VP net favorability
(DBN)

____________

Fraud:

Pandemic-era PPP loan fraud drove inflation in home prices in some markets: Study
(DBN)

____________

Crypto:

FTX Exchange in $8.7B Debt to Clients Amid Bankruptcy: Misappropriation of Funds Revealed FTX Bankruptcy Team Says the Exchange Owed Customers $8.7B
(DBN)

FTX lied to banks about Commingled funds, management alleges
(DBN)

Banks raised questions in 2020 about FTX-affiliated hedge fund's wire activity, FTX says
(DBN)

FTX Bankruptcy Claim Transformed into NFT for DeFi Loan FTX creditor uses NFT to collect money from a bankruptcy claim
(DBN)

FTX Spent Big on Celebrity
(DBN)

____________

Bankruptcy Crimes:

Putnam County Man Pleads Guilty to Making False Declaration in Bankruptcy Case
(DBN)

____________

Forest Products:

The alarming decline of Earth’s forests, in 4 charts
(DBN)

____________

New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (44 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (7 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

Reading Tea Leaves: The Rate of Chapter 22 Cases Jumps … For Now
(DBN)

______________

Mass Torts:

Supreme Court rebuffs OSU and enables the remaining sex abuse victims to sue
(DBN)

California Man Tells Jury of Getting Cancer After Using J&J Baby Powder
(DBN)

4 Days of Hearings Begin Over Dismissal of J&J's Talc Bankruptcy 2.0 J&J’s Push to End Cancer Suits Meets Trial in Bankruptcy Court J&J's $8.9 billion talc settlement faces US bankruptcy test
(DBN)

Second Circuit confirms use of third-party releases in Chapter 11 Bankruptcy Plans – Circuit split remains
(DBN)

____________

Avoidance Actions:

7th Cir. Rejects Bankruptcy Trustee’s Challenges to Pre-Petition Sale of Debtor’s Debts
(DBN)

____________

Jurisdiction:

Supreme Court Won’t Consider Bankruptcy Dispute Over Assuming Jurisdiction
(DBN)

____________

Advisors:

Notice of Appearance - Laura Marcero, MD at Huron Consulting Group
(DBN)

____________

Sovereign Immunity:

U.S. Supreme Court: Bankruptcy Code Abrogates Tribal Sovereign Immunity
(DBN)

____________

Aviation:

US's Western Global Airlines mulls bankruptcy - report
(DBN)

O'Melveny & Myers Seeks $139M in Legal Fees After $1 Victory for American Airlines in Anti-Trust Case Against Sabre
(DBN)

Go First's lenders approve $55 mn fund infusion to revive carrier: Reports GoFirst likely to get a nod from DGCA soon Go First creditors greenlight revival plan
(DBN)

____________

Sports:

Canada Soccer may need to explore bankruptcy as financial struggles mount
(DBN)

____________

Media:

Vice Media Downfall's Sobering Lessons
(DBN)

Social media news consumption slows globally
(DBN)

____________

Sovereigns:

IMF Approves $1.8 Billion in Loans for Senegal to Revive Economy
(DBN)

Cash-strapped Sri Lanka scraps monkey business plan
(DBN)

Pakistan Hikes Rate to Record in Emergency Meet As IMF Looms
(DBN)

____________

UK:

Prospect of insolvency for UK businesses set to fall for the coming year
(DBN)

Woking Borough Council to ask residents what services they value the most as part of bankruptcy cost cutting
(DBN)

Inflation in Shops Declines as UK Battles Living-Cost Crisis
(DBN)

BOE Set to Tip UK Into Recession by Year End, Economists Say
(DBN)

Low-Income Britons Can Afford Only 5% of Private Rental Homes
(DBN)

Steel tycoon Gupta wins reprieve over Greensill winding-up petitions
(DBN)

____________

EU:

EU Strikes Deal on Bank Capital Rules Years in the Making
(DBN)

ECB Won’t Be Able to Declare Rate Peak Anytime Soon, Lagarde Says
(DBN)

ECB’s Kazaks Can’t Rule Out Interest-Rate Hikes Beyond July
(DBN)

____________

Canada:

CE Brands unit makes voluntary assignment into bankruptcy, company CFO resigns
(DBN)

____________

Germany:

Germany set to raise minimum wage by more than 3%, unions want more
(DBN)

____________

Russia:

Putin breaks silence after coup attempt as traitor Prigozhin ‘still faces sedition charges’ with Stalinist purge feared The fragile truce that halted Prigozhin's armed revolt against the Kremlin seems to be falling apart already Russia Tries to Restore Control as Putin, Prigozhin Stay Silent on Wagner Mutiny - WSJ Russia’s wild weekend and the Wagner group’s march to Moscow, explained Putin praises Russia’s security forces for averting ‘civil war’ Did Prigozhin Just Get Disappeared? Xi’s Bet on Putin Looks Even More Risky After Russian Rebellion Prigozhin's mutiny against Russia is the beginning of the end of Putin, military strategist says Wagner Group shot down 6 Russian helicopters and a plane during its mini rebellion, Ukraine says, weakening Putin's air force at a time when it could prove critical Wagner warlord Prigozhin resurfaces to justify mutiny against Putin Wagner chief claims wide support from Russian public for march on Moscow Just How Much Trouble Is Vladimir Putin In? Blinken on Russia crisis: ‘We haven't seen the last act’ ‘The People Are Silent’: The Main Reason the Wagner Mutiny Bodes Ill for Putin Biden says U.S. is not part of aborted Russia rebellion, and it’s too early to determine the cause Wagner boss claims he wasn't trying to overthrow Russian government Why Prigozhin’s short-lived Russian rebellion failed Prigozhin says he turned around to avoid Russian bloodshed Putin says Russia would have put down 'armed rebellion' Putin will deliver ‘important statements’ soon, Kremlin says Russia Drops Mutiny Case Against Prigozhin as Putin Honors Deal Putin says organizers of Wagner rebellion "will be brought to justice" Prigozhin Just Got Double-Crossed by Duplicitous Putin Putin Defense Chief Who Was Focus of Wagner Mutiny Visits Troops How the Wagner rebellion inside Russia affects the war in Ukraine Russia's near-mutiny just cratered its currency against the dollar Aleksandr Lukashenko, the dictator who took credit for ending Wagner’s mutiny, explained
(DBN)

Russian forces fired a banned choking gas at Ukrainian troops, but then the wind blew it back towards them, Ukraine says
(DBN)

German judiciary takes on Russian war criminals
(DBN)

ECB's Enria wants euro zone banks out of Russia faster
(DBN)

____________

China:

China's economic recovery is still 'stuck in first gear' as pollution readings show air quality is cleaner than pre-pandemic
(DBN)

The yuan's plunge against the rival dollar underscores fears that China's floundering economy will weigh on global growth
(DBN)

China’s economy is set to grow faster in the second quarter, Premier Li Qiang says
(DBN)

Intelligence on Wuhan not so clear
(DBN)

____________

MENA:

Rockets fired at Israel from West Bank -- first in 18 years
(DBN)

____________

India:

Are Dissenting Financial Creditors Adequately Protected Under Section 30(2)(e) Of The Insolvency And Bankruptcy Code (IBC)?
(DBN)

____________

Cayman Islands:

Creditors’ Considerations For Receivership Orders In SPC Structures
(DBN)

____________

Singapore:

Singapore Sends Businessman to Jail for Role in Wirecard Fraud
(DBN)

____________

New Zealand:

New Zealand Seen Stumbling From One Recession Into Another
(DBN)

____________

Malaysia:

Insolvency (Amendment) Bill 2023
(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