June 29, 2023

The Daily Bankruptcy News

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3-Column Formating

 

Law:

Elite Firm Ramps Up Its Compensation, Offering Higher Salaries To Associates
(DBN)

Goodwin Is Conducting 'Performance Reviews' That Have Resulted In Job Cuts
(DBN)

The Rise Of 'Midyear Reviews' That Could Leave Associates Jobless
(DBN)

Everyone Should Have Monday, July 3, Off From Work
(DBN)

New White & Case Leader Reduced To Nameless 'Female Litigator' In Media Coverage
(DBN)

Vault ‘Quality Of Life’ Rankings: The Best Law Firms To Work For In America (2024)
(DBN)

Associates At This Firm Are Highly Satisfied with Their Jobs
(DBN)

BigLaw partner pay has ‘grown unbelievably,’ putting top lawyers ahead of investment bankers
(DBN)

Lawyer referred for possible discipline after suing judge who also referred her for discipline
(DBN)

Prosecutor removed by Florida governor can’t get hearing in federal or state court
(DBN)

Attorney and alleged serial rapist accused of numerous additional attacks
(DBN)

Campaign aide identified as key person in classified docs indictment Veteran Reporter Points Out Key Passage in Mark Meadows Biography Undercutting Trump’s Latest Docs Defense Trump’s Bizarre Behavior Poses a Big Problem for Mar-a-Lago Prosecutors Trump is testing out a surprising new defense strategy: admitting he's a liar The tape that perfectly encapsulates why Trump may be unfit for the Oval Office – and why it may not matter
(DBN)

Donald Trump sues E. Jean Carroll for defamation
(DBN)

Judge signals he’ll let Trump hush money case stay in state court
(DBN)

Rudy Giuliani interviewed in special counsel’s 2020 election interference probe
(DBN)

Eastman says Supreme Court decision makes argument ‘murkier’ in 2024 How the Supreme Court’s decision on election law could shut the door on future fake electors Supreme Court crushes plan to scramble partisan map-making
(DBN)

The facts about Hunter Biden Biden denies role in alleged Hunter Biden shakedown of Chinese executive
(DBN)

Iran ‘plan of attack’ memo referenced in Trump audio not included among charges against him: report
(DBN)

Deputies fired after 2 Black men file lawsuit alleging torture and attempted sexual assault in Mississippi
(DBN)

Daniel Penny pleads not guilty in NYC subway chokehold death of Jordan Neely
(DBN)

FBI and SEC respond to complaints about Twitter audio star Mario Nawfal
(DBN)

Online hate and harassment continues to rise
(DBN)

Religious Freedom Arguments Underpin Wave of Challenges to Abortion Bans
(DBN)

Judge Blocks Kentucky’s Transgender Care Ban for Minors Judges block Kentucky, Tennessee bans on gender-affirming care for youth
(DBN)

DeSantis wants court to schedule Disney trial after 2024 election
(DBN)

'Evil and terrifying': Ex-police chief and serial arsonist gets 8 life sentences for fires
(DBN)

Report: Connecticut troopers may have falsified traffic stops for racial profiling board
(DBN)

Man who used Bitcoin to have a hitman murder his sex abuse victim gets years behind bars
(DBN)

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Judges:

Retirement talk surrounding Thomas, Alito raises stakes for 2024 election
(DBN)

Judge, 96, Mourns Tarnished Legacy While Saying She Won’t Leave
(DBN)

A Lifetime-Appointed Judge Was Accused Of Not Being Able To Do Her Job. She Brought Receipts.
(DBN)

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Wall Street:

Stock futures rise slightly as the market nears the end of quarter and first half
(DBN)

U.S. stocks retreat after Powell’s hawkish signals S&P 500 closes near flat as Powell warns that more restrictive policy could be on the way US stocks close mixed as Fed Chair Powell says more rate hikes could be coming
(DBN)

BlackRock says these 5 'mega forces' are about to change how to invest
(DBN)

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Layoffs:

National Geographic lays off its last remaining staff writers
(DBN)

Puritan Medical Products announces layoffs affecting more than 200
(DBN)

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Student Debt:

Student loan debt: Which way will the Supreme Court go?
(DBN)

Why Women Will Suffer the Most if the Supreme Court Rules Against Biden's Student Loan Forgiveness Plan
(DBN)

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Furniture:

United Furniture selling Mississippi properties following bankruptcy filing
(DBN)

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Climate:

Majorities of Americans Prioritize Renewable Energy, Back Steps to Address Climate Change
(DBN)

Canada's wildfire smoke emissions break records
(DBN)

NYC Faces Poor Air Quality as Smoke From Canada Fires Heads East
(DBN)

The Heat Dome Scorching Texas and Mexico Is About to Spread Texas sets all-time power demand records as historic heat wave drags on
(DBN)

Think it’s hot now? This study says Texas could reach 125-degree temps within 30 years
(DBN)

Home Buyers With Short Memories Are Driving Up Prices in Hurricane-Hit Town - WSJ
(DBN)

UK Government Steps Up Drought Planning as Temperatures Rise
(DBN)

Rhine River Chokepoint Is Lowest for Time of Year on Record
(DBN)

Louisiana's Rising Sea Level Crisis
(DBN)

This climate fight is about burgers and stir-fry
(DBN)

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Tech:

Elon Musk, Worst Free Speech Hero Ever
(DBN)

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Retailing:

Doubt grows over Buy Buy Baby sale process as parent Bed Bath & Beyond splits auction
(DBN)

Overstock to relaunch Bed Bath & Beyond after buying intellectual property Overstock.com will change website name to Bed Bath & Beyond as deal closes
(DBN)

Shoplifters and Student Loans Are Toxic Mix for Retail Stocks
(DBN)

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Crypto:

Crypto’s Most Powerful Woman Speaks Out as Crisis Rocks Binance
(DBN)

FTX-Exec Helped Pay Hush Money To Potential Whistleblowers, Lawsuit Claims
(DBN)

Crypto exchange FTX epic comeback plan unveiled FTX Begins Talks on Reboot Amid Regulatory Crackdown on Crypto Exchanges - WSJ FTX To Relaunch International Arm As Court Confirms Trial Date For Bankman-Fried
(DBN)

FTX Customers Have Until End-September to Submit Claims
(DBN)

'Facilitating Case Mischief': BlockFi Creditors File To Liquidate Crypto Lender, Accuse CEO Of Fraud
(DBN)

Crypto Lender Delio Creditors Take Action as Corporate Recovery Proceedings Initiated at Seoul Bankruptcy Court
(DBN)

Bankrupt Prime Trust Blocked From Accessing $45 Million Worth Of Digital Assets
(DBN)

Maple Finance announces direct lending to fill the void left by BlockFi, Celsius
(DBN)

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Private Equity:

Private Equity’s New Sweet Spot: Manufacturing Sector Opportunities and How to Make the Best of Them in a Down Market
(DBN)

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Trucking:

Trucking Company, Careening Toward Bankruptcy, Could Default on $700 Million Federal Bailout Loan Analysts contemplate a Yellow bankruptcy
(DBN)

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Rail:

States Clamp Down on Freight Trains
(DBN)

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Economy:

Powell says more ‘restriction’ is coming, including possibility of hikes at consecutive meetings
(DBN)

This recession indicator flashed again as the Fed signaled more rate hikes. It hasn't been wrong for 44 years.
(DBN)

CBO: Federal debt to soar... Reaching 181% of nation's total economic output
(DBN)

McCarthy confronts a spending mess that will test his speakership
(DBN)

Top Central Bankers See Further Tightening to Counter Inflation Powell and Central Bankers See More Tightening as Economies Withstand Hikes
(DBN)

The Federal Reserve thinks catastrophe is coming for US businesses
(DBN)

US, UK May Face Permanently High Interest Rates Thanks to Aging Populations
(DBN)

Is it a ‘richcession’? Or a ‘rolling recession’? Or maybe no recession at all?
(DBN)

The global economy is slowing down. Just look at the luxury watch market.
(DBN)

Supreme Court Will Decide Whether Unrealized Income Is Taxable And The Decision Could Have Far Reaching Consequences
(DBN)

Biden to tout his vision for economic growth 'from the middle out and bottom up' Just 34% approve of Biden’s handling of the economy as he hits the road to talk up ‘Bidenomics’ Biden Pitches Voters on Benefits of Big Government ‘Bidenomics’ President Biden assails trickle-down economics, touts his policies to boost middle class
(DBN)

Nobel economist Paul Krugman defends Bidenomics, touting the US's success in taming inflation
(DBN)

Biden says there won't be a recession. Wall Street isn't so sure.
(DBN)

Huge New York landlord says Fridays in the office are 'dead forever' — and Mondays are 'touch-and-go'
(DBN)

Millennials aren't as rich as they were a year ago. Here's why.
(DBN)

First there was quiet quitting. Now it’s become grumpy staying.
(DBN)

A record-high share of 40-year-olds in the U.S. have never been married
(DBN)

Trump launches FairTax attacks while supporters in House push for bill
(DBN)

Biden-McCarthy Deal Fails to Tame US Debt as Republicans Demand Cuts
(DBN)

The Gender Pay Gap Starts Even Before You  Get Hired
(DBN)

We're Heading for a Social Security Apocalypse
(DBN)


US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Real estate debt marketplace PeerStreet files for bankruptcy
(DBN)

A flood of housing inventory will hit the market once mortgage rates hit this key level, Compass CEO says
(DBN)

Single-family homes built for the rental market jumped 35% to an all-time high last year
(DBN)

Inflation Adjusted House Prices 3.8% Below Peak; Price-to-rent index is 8.4% below recent peak
(DBN)

MBA: Mortgage Applications Increased in Weekly Survey Mortgage applications jump 3%, still down double-digits from 2022
(DBN)

The housing market is so unaffordable that a record share of homebuyers are looking to relocate to cheaper cities despite rising natural disaster risks
(DBN)

A Property Manager Pepper Sprayed a Tenant Union Organizer on Video
(DBN)

HomeVesters CEO Steps Down After Investigation
(DBN)

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Municipalities:

What Puerto Rico's Prepa Bankruptcy Means for Munis
(DBN)

PREPA judge said she won't endorse appeals to her decisions
(DBN)

Portland Is Losing Its Residents - WSJ
(DBN)

Flint Has Clean Water Now. Why Won’t People Drink It?
(DBN)

Hundreds in Puerto Rico protest proposed increase in electricity bills
(DBN)

Detroit retired librarian researches old bankruptcy papers to find some hope for relief
(DBN)

WCCUSD avoids deep cuts in new budget, but insolvency looms
(DBN)

Can Anyone Fix California?
(DBN)

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Oil/Gas:

Biden Seeks to Shield Taxpayers From Costs of Cleaning Up Aging Offshore Oil Wells
(DBN)

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Retailing:

Buy Buy Baby goes up for auction after Bed Bath & Beyond assets get sold off
(DBN)

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Politics:

Biden mocks Tuberville for touting broadband funding he voted against
(DBN)

Joe Biden Keeps Confusing Ukraine and Iraq
(DBN)

Trump is the only Republican who will lose to Biden in 2024, Paul Ryan says
(DBN)

Noem says she doesn’t see ‘path to victory’ for anyone but Trump in 2024
(DBN)

Trump leading DeSantis by 23 points in new South Carolina poll
(DBN)

Trump: Believe Me, I Was Lying
(DBN)

Mainstream Conservatives Are On The Run in Europe, Too
(DBN)

How Americans’ views of the U.S. compare with international views of the U.S.
(DBN)

Why does Pence even bother?
(DBN)

Politicians Are Trying a New Fundraising Approach: Honesty
(DBN)

White House picks fight with Greene over funding
(DBN)

Biden opens up wide lead on RFK Jr. in New Hampshire poll
(DBN)

‘I get my butt kicked every 20 minutes’: Life in a state legislature’s superminority
(DBN)

DOJ calls Florida law restricting Chinese land ownership unconstitutional
(DBN)

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Autos:

$RIDE or Die
(DBN)

Lucid's Future Shaky, 2 More EV Makers At Risk of Bankruptcy, Warns Analyst After Lordstown's Fall
(DBN)

Bankrupt Lordstown Says It’s Held Confidential Settlement Talks With SEC EV maker Lordstown Motors begins bankruptcy embroiled in disputes Officials find bright side to LMC bankruptcy
(DBN)

EV transition upends auto industry with rash of layoffs, buyouts, production cuts, bankruptcy
(DBN)

Auto-Industry Group Assails Biden’s Plan to Electrify America’s Cars
(DBN)

Foxconn EV System LLC Among LMC’s Largest Unsecured Creditors
(DBN)

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Maritime:

Stockton Rush's friend who took a dive in the Titan sub warned him paying customers could 'panic' if they heard the same 'breaking sounds 2 miles under water' that he did
(DBN)

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Food/Beverage:

South Park's creators have eliminated tipping at Denver's famed Casa Bonita. Servers now make $30 an hour — and some are mad.
(DBN)

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Sports:

Diamond in Last-Minute Talks With MLB's Diamondbacks to Keep the Team on Bally Sports Arizona
(DBN)

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Labor:

Teamsters warn of 'imminent' UPS strike affecting 'nearly all Americans'
(DBN)

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Fraud:

Justice Department charges 78 people with $2.5 billion in health-care fraud
(DBN)

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New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (27 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (8 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

Corporate bankruptcies are speeding up to recession levels as the Fed’s rate hikes take a toll
(DBN)

Is Chapter 22 This Year’s Biggest Bankruptcy Trend?
(DBN)

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Sovereign Immunity:

Bankruptcy Implications of Lac du Flambeau Band of Lake Superior Chippewa Indians v. Coughlin
(DBN)

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Intercreditor:

Serta’s Bankruptcy Court Win Bolsters Future for Favored Lenders
(DBN)

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Conflicts:

Court Holds Plan Administrator Didn’t Have a Conflict in Bringing a Lawsuit Against Preferred Shareholders
(DBN)


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Mass Torts:

Cancer plaintiffs drill down on JnJ support for USD 8.9 billion talc deal
(DBN)

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Trustees:

BK WD TX (El Paso) Seeks Ch. 7 Trustee
(DBN)

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Aviation:

Airline delays and cancellations are bad. Ahead of the holiday weekend, they’re getting worse
(DBN)

6,700+ flights delayed as air quality threatens NYC
(DBN)

More than 800 domestic U.S. flights canceled ahead of holiday weekend
(DBN)

Flight attendants’ secrets for surviving summer travel
(DBN)

Why airline delays and cancellations are so bad: It’s not just the weather
(DBN)

Go First revival plan: DGCA to examine documents, conduct audit before restarting operations
(DBN)

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Healthcare:

Hospital margins rebounding post-pandemic
(DBN)

Malaria alert issued in Florida. Why infectious mosquitoes have led to statewide concern
(DBN)

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Movie Theaters:

Cineworld Bankruptcy Exit Plan Confirmed At Key Hearing; Attorney Defends Payments To Executives As Stockholders Are Wiped Out
(DBN)

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Gambling:

Las Vegas May 2023: Visitor Traffic Up 1.5% YoY; Convention Traffic up 16% YoY
(DBN)

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Banking:

UBS ‘preparing to cut more than half of inherited Credit Suisse workforce’
(DBN)

Federal Reserve says 23 biggest banks weathered severe recession scenario in annual stress test
(DBN)

Federal Reserve may tighten financial rules after US bank failures, Powell says
(DBN)

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Sovereigns:

New forms of debt restructuring reward bad behavior
(DBN)

Sri Lanka Prepares to Endorse Debt Restructuring Blue Print Sri Lanka's Cabinet approves a domestic debt restructuring plan in effort to solve economic crisis Sri Lanka reveals far-reaching debt restructuring plan to tackle economic crisis
(DBN)

China urged to play greater role in financial system after Sri Lanka bailout exposed flaws
(DBN)

IMF board to meet on July 12 for first review of Zambia's programme
(DBN)

Explainer-Tunisia's efforts to stave off bankruptcy
(DBN)

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UK:

U.K.’s biggest water utility faces government takeover as it sinks under debt pile UK Considers Nationalization of Thames Water as Crisis Escalates How Thames Water is drowning in £14 billion worth of debt
(DBN)

Bank of England governor defies critics, says surprise rate hike was ‘justified’
(DBN)

BOE’s Bailey Hints Rates May Be Higher for Longer Than Expected
(DBN)

Hunt Vows to Keep ‘Watchful Eye’ on Pricing by UK Companies
(DBN)

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Canada:

Homebuilding Costs in Canada Soar 51% as Population Surges
(DBN)

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Australia:

Bankruptcy reform in Australia
(DBN)

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Russia:

Prigozhin's plan was to capture two of Russia's top military officials, report says Wagner's chaotic attempt at armed rebellion is starting to (kind of) make sense Putin’s ‘General Armageddon’ VANISHES in ‘Kremlin purge’ amid claims he was in on Wagner Group mutiny Russians Greeted Wagner Mutiny With a Shrug and Internet Jokes Putin Belittles Wagner Rebellion Leader the Kremlin Created Belarus' second-rate dictator Lukashenko is 'humiliating' Putin by bragging about how he saved Moscow from an armed Wagner revolt, experts say Inside Biden's dramatic backchannel to Russia as a near-coup unfolded
(DBN)

Xi faces being humiliated by his 'no limits' friendship with Putin. But he can't back out of it now.
(DBN)

Biden says Putin has ‘absolutely’ been weakened after revolt in Russia
(DBN)

Ukraine accuses local man of directing missile strike that killed 11 at popular pizza restaurant
(DBN)

Biden says Putin is losing the war in … Iraq
(DBN)

Switzerland refuses to transfer tanks to Ukraine
(DBN)

Gaming out Russia’s future
(DBN)

G-7 Tells Global South Nations That a Just Peace Requires Russia Leaving Ukraine
(DBN)

Sanctioned Goods Are Sneaking Into Russia Through Kazakhstan
(DBN)

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China:

Chinese Balloon Used American Tech to Spy on Americans - WSJ
(DBN)

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MENA:

Israel Acts Against Jewish Settlers Who Rampaged in West Bank
(DBN)

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Australia:

Porter Davis creditor talks fail to answer debt queries
(DBN)

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France:

Retailer Casino warns shareholders of 'massive dilution' in debt restructuring Debt-ridden retailer Casino gives July 3 deadline for offers to boost its equity
(DBN)

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Brazil:

Brazil's bank lending delinquency reaches highest level in May over 5 years
(DBN)

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Spain:

Selier incorporates new managing partner for the new restructuring and insolvency practice area
(DBN)

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Germany:

The Ukraine War Is Being Used as a Pretext For Antisemitic Attacks in Germany: Report
(DBN)

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Mexico:

Mexico’s President Says His Country Doesn't Produce Fentanyl. His Military Seized 7 Tons in 5 Years.
(DBN)

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Singapore:

International Insolvency Institute names first Asian president
(DBN)

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