June 28, 2023

The Daily Bankruptcy News

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3-Column Formating

 

Law:

Change In Leadership At White & Case
(DBN)

Rite Aid Cuts Loose Law Firms With Personal Ties to Executives
(DBN)

Lawyer sues Microsoft for $1.7M, says multiple calls and long waits on hold didn’t fix email cutoff
(DBN)

Clifford Chance’s top paid partner made almost £5 million last year, records show
(DBN)

Normally, When Lawyers Associate For That Long They Get Insufferable
(DBN)

Georgetown Law's 1979 Teaching Staff Must Have Been Amazing For A Guy To Donate $30M After A Year Of Schooling
(DBN)

Judge Tells Biglaw Partner To Stifle In Stupid Madison Square Garden Attorney Ban Case
(DBN)

Economics factor into litigation decisions, GCs say
(DBN)

GCHQ warns law firms of risk posed by remote working
(DBN)

122-Year Old Golden Gate Law School Will Keep Its Doors Open A Little Longer Despite Continued Financial Woes
(DBN)

Trump heard on tape discussing 'highly confidential, secret' documents Trump appears to acknowledge ‘highly confidential’ documents in audio tape 703 Ways Trump’s Mar-a-Lago Conduct Bears No Resemblance to Hillary Clinton’s Emails Fox News host suggests Trump may have leaked audio in classified documents case Former prosecutor on new Trump tape: ‘This is game over’ It’s not just Mar-a-Lago: Trump charges highlight his New Jersey life George Conway: Trump words on new tape ‘stunning’ Conservative Fort Pierce jury pool could bode well for Trump defense, but is it that simple? ‘It was bravado’: Trump says he wasn’t holding up classified documents in 2021 meeting Judge: Witnesses Against Trump Can't be Secret Cannon's ruling 'makes no sense': Legal analysts think Jack Smith will throw down over her latest
(DBN)

'Acting like a Mafia boss': Trump appears to threaten Jack Smith's family in latest rant
(DBN)

Trump's lawyers and N.Y. prosecutors to face off over criminal case venue
(DBN)

Supreme Court deals a blow to Trump ally John Eastman's 2020 election theory
(DBN)

'Planned in plain sight': Senate report finds intel agencies failed in the lead-up to Jan. 6 Panel: Jan. 6 Riot Caught FBI Off Guard Jan. 6 Convict Tells the Truth About Trump: He’s a Cult Boss Pinellas pair gets jail time for Jan. 6 Capitol riot
(DBN)

Court Throws Out New York’s Civil Case Against Ivanka Trump
(DBN)

Competing Accounts of Justice Dept.’s Handling of Hunter Biden Case Supreme Court’s Bruen decision may have aided Hunter Biden in fight against gun charge
(DBN)

Supreme Court denies state legislatures the unchecked power to set election rules Supreme Court rules against giving state legislatures unchecked control over federal elections Supreme Court rules against North Carolina Republicans over election law theory Obama Celebrates Supreme Court Ruling on 'Far-Right' Election Theory Supreme Court Strikes Blow to the Right’s Favorite Fringe Legal Theory How the ‘independent state legislature’ theory, now rejected by SCOTUS, fueled chaos in 2020 and could influence 2024 Institutions strike back Shorter John Roberts: 'State Legislatures Don't Control Elections... John Roberts Controls Elections' In solo SCOTUS dissent, Thomas pushes fringe theory to overturn bedrock defamation case Justice Thomas renews attacks on landmark First Amendment decision in fiery dissent
(DBN)

'Significant misconduct' found at prison where Jeffrey Epstein died, inspector general report finds Jeffrey Epstein likely rehearsed his suicide on July 23, but he was still left to accomplish the real thing, federal inspectors found
(DBN)

Teen Shot for Ringing Wrong Doorbell Says Neighbors Ignored His Pleas for Help
(DBN)

States Passed a Record Number of Transgender Laws. Here’s What They Say.
(DBN)

Scientology sued by worker who claims she was forced to marry abuser
(DBN)

Japanese American who fought for prison camp survivors now fighting for reparations for Black community
(DBN)

$500,000 offered 26 years after woman found dead beneath cliff
(DBN)

Man jailed for alleged Skittles assault
(DBN)

New York Signs Law To Protect State Providers Providing Abortion Drug Telemed Services To Out-Of-State Patients
(DBN)

Woman indicted on murder charges after leaving her 16-month-old child alone for 10 days while she vacationed, prosecutors say
(DBN)

Argument about reserved seats for new Jennifer Lawrence movie turns deadly
(DBN)

No charges for homeowner who fired dozens of rounds at pool cleaner
(DBN)

'All torn up like a shark ate him': 2 arrested after dogs maul man to death
(DBN)

Idaho student killings suspect could be executed by firing squad if he is convicted and sentenced to death
(DBN)

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Judges:

Supreme Court rules for online stalker convicted of making 'true threats' US Supreme Court backs man who sent female musician flood of unwanted messages SCOTUS overturns ‘true threats’ conviction, working in reference to New York Times v. Sullivan
(DBN)

Samuel Alito Joins the Supreme Court’s Billionaires’ Club
(DBN)

The Timing of Alito’s Private Jet Scandal Couldn’t Be More Damning
(DBN)

What is Supreme Court Justice Samuel Alito's problem?
(DBN)

Justices Who Benefited From Affirmative Action May Decide Its Fate - WSJ
(DBN)

The Liberal Giant Who Doomed Roe
(DBN)

If you think Trump’s Supreme Court picks were bad, take a look at DeSantis’ choices
(DBN)

Conservative Fifth Circuit Is Stumbling at US Supreme Court
(DBN)

The Clerkships Whisper Network: What It Is, Why It's Broken, And How To Fix It
(DBN)

The Ancestors Of Two Supreme Court Justices Owned Slaves. Will That Change How We Look At Their Decisions?
(DBN)

Supreme Court Subtweets Ron DeSantis That He's Totally Losing To Disney Ron DeSantis rails against Disney's 'corporate kingdom' in motion to dismiss
(DBN)

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Wall Street:

S&P 500 futures inch lower after Tuesday’s tech-fueled rally
(DBN)

Wall Street closes higher as upbeat economic data allays slowdown fears
(DBN)

Charted: Companies in the Nasdaq 100, by Weight
(DBN)

The only winners on Wall Street seem to be the interns — with some earning nearly $20,000 a month
(DBN)

The Stock Market Isn’t as Calm as It Seems - WSJ
(DBN)

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Layoffs:

Ford to lay off workers as it focuses on electric vehicles
(DBN)

Still hiring: Big Tech layoffs give other sectors an opening
(DBN)

UBS Preparing to Cut More Than Half of Credit Suisse Workforce
(DBN)

Nextbite layoffs broke federal law, lawsuit claims
(DBN)

New Relic will lay off another 255 in latest restructuring
(DBN)

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Crypto:

Senior Attorney Helped FTX Founder Misuse Customer Funds, Report Says FTX's new CEO claims company lied to banks for years about misuse of customer funds
(DBN)

The Second FTX Asset Recovery Report Is Packed With Bombshells
(DBN)

FTX begins talks to relaunch international cryptocurrency exchange
(DBN)

FTX suspends $500M sale of stake in AI firm Anthropic
(DBN)

FTX Spent Its Crypto Money on Yachts, E-Sports and Margaritaville
(DBN)

Judge Dunks on Sam Bankman-Fried’s Bid to Toss Most Criminal Charges
(DBN)

Latest FTX bankruptcy report provides lurid details into alleged fraud
(DBN)

FTX's Image As Customer-Focused Leader Was A Mirage, Report Says
(DBN)

‘End the Extortion:’ BlockFi Creditors File to Liquidate Estate
(DBN)

Voyager to Pay $1.1M Legal Fees for April
(DBN)

TrueUSD’s Reserves Were Attested by Former FTX.US Accounting Team
(DBN)

Bankrupt Three Arrows' liquidators seek $1.3 billion from fund's founders
(DBN)

This Travel Firm Lost Millions On Crypto Trading
(DBN)

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Retailing:

Bankrupt David’s Bridal Receives Tentative Bid to Keep Most Stores Open
(DBN)

Forman Mills avoids bankruptcy thanks to acquisition by Shoppers World
(DBN)

Changes to student loan policies set to hit retail around the holidays
(DBN)

Judge approves Overstock’s $21.5 million purchase of Bed Bath & Beyond’s brand
(DBN)

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Fraud:

A man’s mother died in 1990. He accepted $830K of benefits in her name for 32 years.
(DBN)

California tech school CEO sentenced to prison for largest post-9/11 GI Bill fraud scheme ever
(DBN)

Woman gets 3 years for helping brother hide more than $300,000 after collapse of Bridgeport bank
(DBN)


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Economy:

Surprisingly Strong US Economic Data Keeps Recession Fears at Bay
(DBN)

America is feeling buyer’s remorse at the world it built
(DBN)

Fed: 37% of US Companies in Big Trouble
(DBN)

US Consumer Confidence Rises to Highest Level Since Early 2022
(DBN)

Why the last mile of the inflation race may be hardest
(DBN)

Credit card delinquency rate steady in May
(DBN)

Americans are hiding their credit card debt
(DBN)

Orders for US Business Equipment Increase for a Second Month
(DBN)

'Dr. Doom' Nouriel Roubini says the world economy is headed for a 'tropical storm' that will cause significant financial damage
(DBN)

Can Bidenomics Save Biden’s Re-election Bid?
(DBN)

Junk-Rated Companies Accept Tougher Terms to Borrow - WSJ
(DBN)

More than $200B in pandemic relief squandered
(DBN)

Comparing Population Pyramids Around the World
(DBN)

12 college majors that may limit your career potential
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

New Home Sales increase to 763,000 Annual Rate in May; Median New Home Price is Down 16.2% from the Peak US New-Home Sales Surge to Fastest Pace in More Than a Year New home sales surged in May, as housing market bounces back
(DBN)

Mortgage demand grows, driven by sales of new homes
(DBN)

PeerStreet Files for Chapter 11 Bankruptcy Protection
(DBN)

Case-Shiller: National House Price Index Decreased 0.2% year-over-year in April Comments on April Case-Shiller and FHFA House Prices
(DBN)

US home prices are still dropping - and the S&P 500 will erase this year's gains, top economist David Rosenberg says
(DBN)

Office building prices will crash 35% in the next 2 years and won't recover for decades, economist says The office real estate crash will be so sharp and deep that Capital Economics thinks office values are unlikely to recover by 2040 Morgan Stanley says commercial real estate will crash harder than during the Great Financial Crisis—here's how 5 other top institutions see it playing out The US has an empty office building problem. Here’s what landlords are doing about it
(DBN)

San Francisco at risk of more falling ‘dominos’ as $2.4 billion of office property loans come due through 2024
(DBN)

Silicon Valley, Calif., office vacancy surging; $1.2B Fla. site deal scuttled
(DBN)

‘I don’t want to become San Francisco’: Urban woes spur state action on housing
(DBN)

Fla. insurer of last resort now top 10 US homeowners writer amid market turmoil
(DBN)

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Municipalities:

Richard Ravitch and the Matzo Summit That Saved New York
(DBN)

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Healthcare:

What I Need to Tell America Before I Leave the C.D.C.
(DBN)

Landmark Study Shows Higher Suicide Risk for Transgender People
(DBN)

Fentanyl Responsible for 80% Of Overdose Deaths Under 24
(DBN)

Cocaine Use Surging
(DBN)

5 people contract malaria in US; First cases in decades What to know about malaria after U.S. cases were reported
(DBN)

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Autos:

Launched to great fanfare a few years ago, Lordstown Motors is already bankrupt
(DBN)

Trump stokes electric car fears in Michigan
(DBN)

After Lordstown bankruptcy, shakeout expected in the EV market
(DBN)

Foxconn calls Lordstown Motors allegations in lawsuit 'malicious'
(DBN)

Electric truck company touted by Trump as 'an incredible concept' files for bankruptcy
(DBN)

Hearings Start Today in Lordstown Motors’ Bankruptcy
(DBN)

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Accounting:

PwC Sold Off Its Scandal-Plagued Government Consulting Business For 67 Cents
(DBN)

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Student Debt:

Borrowers stare down student loan repayments after years of high inflation
(DBN)

Supreme Court set to end limbo over Biden’s student debt plan
(DBN)

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Labor:

Actors send letter to SAG-AFTRA threatening strike
(DBN)

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Celebs:

Bankruptcy proceedings against Culture Club members dismissed
(DBN)

Roseanne Barr Re-Cancels Herself: ‘Nobody Died in the Holocaust’
(DBN)

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Transit:

NYC drivers will be charged extra to enter Manhattan
(DBN)

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Tech:

Trump open to returning to Twitter — at some point
(DBN)

Magic Mushrooms. LSD. Ketamine. The Drugs That Power Silicon Valley - WSJ
(DBN)

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Religion:

Storied Baltimore Catholic family sues archdiocese, says sexual abuse led to death
(DBN)

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Agribusiness:

Drones, AI and big data to farm for the future
(DBN)


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Education:

SF Art Institute campus listed for sale after bankruptcy
(DBN)

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Movie Theaters:

National CineMedia Reorganization Approved By Bankruptcy Court National CineMedia to emerge from bankruptcy in August or September
(DBN)

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Radio:

Supreme Court Ends FM Owner’s 15 Year Hopes
(DBN)

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Bankruptcy Crimes:

Former lawyer gets more than 3 years in prison in bankruptcy fraud scheme tied to collapse of Bridgeport bank
(DBN)

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Cannabis:

Canopy Growth stock price could crash to zero as bankruptcy risks rise
(DBN)

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Trucking:

Facing Bankruptcy After a $700 Million Bailout
(DBN)

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Climate:

Southern US swelters in brutal heat wave ‘It’s Dangerous’: Heat Wave Spreads From Texas to Bake the Southeast
(DBN)

Texas may reach temperatures hotter than 99% of the world as dangerous heat wave persists
(DBN)

It's Oppressively Hot In Dallas Right Now, But it's Not 1980 Hot.
(DBN)

Texas sets new power use record as dangerous heat sweeps southern U.S.
(DBN)

Life Cycle Emissions: EVs vs. Combustion Engine Vehicles
(DBN)

The Incredible Size of Canada's Wildfires
(DBN)

More Storms and Floods in the 21st Century
(DBN)

Nighttime temperatures a symptom of more dangerous kind of heat wave Show all
(DBN)

Wildfire smoke smothers Chicago and Detroit in unhealthy haze
(DBN)

Deforestation Jumped 10% Last Year
(DBN)

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New Bankruptcy Opinions
(2 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (16 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (5 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Insurance:

Contractual Liability Exclusion Does Not Bar Coverage for Fiduciary Duty Claim
(DBN)

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Tax:

Lesson From The Tax Court: How To Calculate Insolvency For The §108 Exclusion
(DBN)

The Neglected Non-dischargeability Provision
(DBN)

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DIP Finance:

Early Stage Capital Raising Trends in Chapter 11 Reorganizations
(DBN)

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Avoidance Actions:

Delaware Bankruptcy Court Ruling on $7.2 B Claim Affects Fraudulent Transfer Defense, Valuation Litigation
(DBN)

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Social Media:

Former Bang Energy Drink CEO Loses Bid to Control Social Media Accounts
(DBN)

“Bang” Goes the Gavel: Ownership of Social Media Accounts
(DBN)

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Sales:

Bankruptcy Sales Under Section 363: The Business Judgment Test That Judges Often Cite Isn’t Always the One They Use
(DBN)

SCOTUS Removes a Partial Barrier to Challenging Unstayed Bankruptcy Sales to Good-Faith Purchasers
(DBN)

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Mass Torts:

Bankruptcy judge questions Buffalo Diocese spending as legal fees soar to $12.5 million
(DBN)

J&J's $8.9 billion talc settlement faces US bankruptcy test
(DBN)

3M Bankruptcy Dismissed As “Fatally Premature” (In re Aearo, et al)
(DBN)

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Aviation:

Western Global Airlines grounds cargo jets as bankruptcy rumors swirl
(DBN)

Hundreds of flights canceled, delayed at NYC airports after severe storms East Coast braces for more severe weather after destructive storms cancel hundreds of flights United CEO blames FAA for canceled flights More than 4,200 US flights delayed or canceled Tuesday due to severe storms
(DBN)

Flight delay 'insanity' at Newark forced one passenger to drive hundreds of miles and take another flight to meet up with their bags. They still didn't get their luggage
(DBN)

Go First cancellations continue, flights now scrapped till June 30 due to ‘operational reasons’ t
(DBN)

Brazil's Azul says 86% of bondholders have agreed with exchange offer
(DBN)

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Food/Beverage:

Mexican beer makers are using bugs to supplement barley
(DBN)

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Banking:

An Introduction to the Unique Issues in Bank Holding Company Bankruptcies
(DBN)

Elizabeth Warren to Janet Yellen: You're wrong on bank mergers
(DBN)

Visualized: The 100 Largest U.S. Banks by Consolidated Assets
(DBN)

Tougher capital requirements for midsize banks imminent: Gruenberg
(DBN)

Tens of thousands of Credit Suisse staffers are about to find out if they still have a job
(DBN)

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Politics:

DeSantis may be pivoting to the mainstream media
(DBN)

Trump explores messing with the first GOP debate
(DBN)

Trump Made His Bedminster. Now He Has To Lie In It.
(DBN)

Trump rips ‘nasty’ Bret Baier after Fox News interview
(DBN)

GOP presidential candidate Francis Suarez: 'What's a Uyghur?'
(DBN)

How Republican field got so big: 'Ego, pure delusion and fantasy'
(DBN)

Kevin McCarthy: 'I don't know' if Trump is the strongest candidate to beat Biden in 2024 Trump allies outraged after McCarthy says ‘I don’t know’
(DBN)

Trump still isn’t backing a national abortion ban — and evangelicals don’t care
(DBN)

Trump looks to drown out DeSantis in New Hampshire
(DBN)

More than 100 U.S. political leaders have slaveholding ancestors, genealogy research finds
(DBN)

5 key findings about LGBTQ+ Americans
(DBN)

GOP Lawmakers Side With Proud Boys After Their Wild Brawl With Neo-Nazis
(DBN)

Cheney on the problem with American politics: ‘We’re electing idiots’
(DBN)

‘We’re Coming For Your Children’ chant at NYC Drag March elicits outrage
(DBN)

What’s fueling the rise in Hindu nationalism in the U.S.
(DBN)

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Distressed Investing:

Private Capital Conversations: Distressed Opportunities
(DBN)

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Sovereigns:

Sri Lanka to introduce reforms on insolvency laws
(DBN)

IMF officials and Pakistan's prime minister hint at deal on $6 billion bailout
(DBN)

Ghana agrees restructuring deal with banks on some domestic debt
(DBN)

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UK:

Bank failures push financially vulnerable to doorstep lenders
(DBN)

UK government on standby as Thames Water struggles with debts
(DBN)

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EU:

Inflation Proves Persistent as It Moves Through the Eurozone Economy
(DBN)

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Canada:

Canada’s inflation rate tumbles to 3.4%, but forecasters still expect July rate hike
(DBN)

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Russia:

Wagner chief Prigozhin is in Belarus, Lukashenko says Prigozhin's soldiers rage while others cry conspiracy Putin may have set a trap for Wagner fighters by letting them flee to Belarus, military experts say Wagner mutiny: Group fully funded by Russia, says Putin Putin admits Kremlin gave Wagner nearly $1 billion in the past year Russian coup leader was warned he would be ‘crushed like a bug’ if troops reached Moscow Hardline Russians Mock ‘Pitiful’ Putin’s Bewildering Post-Mutiny Speeches Wagner mutiny exposes risks for China’s deep Russian ties What Will Happen to Prigozhin and His Wagner Fighters? Here’s What We Know Change in regime is 'far closer' after Wagner Group rebellion, Putin critic says Wagner's Coup Attempt Lands Russia in Legal Quagmire ‘The Door Has Now Been Opened for Anyone to Challenge Putin.’ Why the Wagner Group's Rebellion Matters Wagner Group rift exposes Russia on the Ukraine battlefield Twenty-Four Hours That Shook the Kremlin Inside Wagner boss Prigozhin’s blood-soaked billions with private jet, yacht & diamond mines as he flees into exile Mutiny and mayhem in Russia a probable boon for Ukraine Russian mutiny against Putin was predicted by this analyst. Here’s what he thinks happens next.
(DBN)

Reading the Tea Leaves on the End of the War in Ukraine
(DBN)

$500 million in security assistance for Ukraine includes more armored vehicles
(DBN)

Russian missile strike hits restaurants in Ukrainian city
(DBN)

Ukraine faces mines and manpower challenges in offensive's early weeks
(DBN)

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China:

Two More China Builders Say They Can’t Meet Debt Obligations
(DBN)

Chinese Local Governments Used Fake Property Deals to Boost Revenues - WSJ
(DBN)

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MENA:

Palestinian Authority discusses bankruptcy, amidst financial troubles
(DBN)

Israel OK’s plans for thousands of new settlement homes, defying White House calls for restraint
(DBN)

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Hong Kong:

Beyond the scope - recognition of mainland liquidation by Hong Kong court achieved through common law
(DBN)

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Bermuda:

Bermuda restructuring to rescue Digicel Group
(DBN)

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