June 6, 2023

The Daily Bankruptcy News

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3-Column Formating

 

Law:

Clifford Chance Lassos Latham Partners As It Expands Into Texas Clifford Chance Launches Houston Office With 10-Partner Team
(DBN)

Freshfields hires restructuring partner and team from Paul Hastings in Paris
(DBN)

Leaders of Lewis Brisbois rebellion sent emails with ‘unacceptable, prejudiced language,’ law firm says Leaders Of Barber Ranen Exchanged Racist, Sexist, Antisemitic Emails For Years
(DBN)

Biglaw Partner's Furious Tirades Go Viral Revealing Family Tragedy
(DBN)

Lawyers like Alex Murdaugh make life difficult for the rest of us
(DBN)

The Biglaw Firm With The Largest Decline In Gross Revenue
(DBN)

Fake heiress Anna Delvey owes disbarred lawyer $152K, NYC suit says
(DBN)

These law schools did best in blog’s ‘omnibus specialty rankings’ based on US News data
(DBN)

Trump-funded studies disputing election fraud are focus in two probes
(DBN)

The Georgia Trump election investigation keeps getting bigger
(DBN)

Trump Panics As Documents Indictment Looms Trump attorneys met at Justice Department for just under two hours Trump lawyers ask Justice Dept. not to charge Trump in classified docs case Trump’s lawyers meet with Justice Department officials following complaints about special counsel probe Trump lawyers meet with DOJ after ex-president slams indictment speculation Mar-a-Lago pool flood raises suspicions among prosecutors in Trump classified documents case Trump attorneys haven’t found classified document former president referred to on tape following subpoena
(DBN)

Former Trump attorney says he wouldn’t be surprised if no charges are filed in classified documents case Raskin: Recording shows ‘clear understanding’ Trump did not ‘magically’ declassify documents
(DBN)

Supreme Court will hear ‘Trump too small’ trademark dispute Does The First Amendment Protect The Right To Make Fun Of Trump's 'Alleged' Small Hands?
(DBN)

Prince Harry Blasted for 'Wasting Court Time' as He Fails to Show up at Own Trial Could U.S. visa get revoked? Prince Harry’s battle against Britain’s tabloid media to reach its most dramatic stage so far Prince Harry arrives at a London court to give evidence in a major lawsuit
(DBN)

California says Florida behind migrant flight to Sacramento Second Plane Carrying Migrants Arrives in Sacramento California threatens legal action against Florida over migrant flights
(DBN)

Texas sheriff recommends charges over Martha’s Vineyard migrant flight
(DBN)

50 NYC houses of worship to start sheltering migrants: Mayor Adams
(DBN)

Hundreds of White women gather at Colorado Capitol after plea from women of color to use their ‘privilege’ to demand action on gun violence
(DBN)

Mother who served 20 years for killing her four babies pardoned
(DBN)

N.Y.P.D. Anti-Crime Units Returning to Illegal Tactics, Report Shows
(DBN)

Man accused of stabbing 82-year-old mom with butter knife and running her over 'just felt like killing her': cops
(DBN)

Woman allegedly hired hitman to kill new wife of man she met on Match.com
(DBN)

Good Samaritans stopped man from kidnapping estranged wife who was holding infant: Police
(DBN)

Arizona wants qualified immunity for placing kids in foster home that ran child sex abuse rings
(DBN)

Woman shot down by cops after pointing pellet gun at midtown crowds, K9 officers
(DBN)

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Judges:

He's handled scores of bankruptcy cases as a lawyer. Now he's Erie's new bankruptcy judge
(DBN)

Supreme Court is not above law, especially on ethics rules
(DBN)

Is the word ‘alien’ objectionable? Federal appeals judge sees ‘no need to bowdlerize’ decisions and laws
(DBN)

How Supreme Court justices’ insularity rendered them 'blind to their own corruption': journalist
(DBN)

How the Supreme Court conservative ‘supermajority’ is changing the country
(DBN)

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Wall Street:

Stock futures dip slightly as market rally takes a breather
(DBN)

US corporate earnings will slump 16% this year and that's going to derail the stock market rally, Morgan Stanley says
(DBN)

Investors are betting the stock market will return to normal. They're so, so wrong.
(DBN)

The stock market's fear gauge just hit its lowest level in 3 years as a new bull market kicks off
(DBN)

The debt ceiling fallout isn't over for markets as corporate earnings will take a hit amid efforts to rein in government spending, investment manager says
(DBN)

Inside a college student's 'abusive' summer from hell on Wall Street
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Layoffs:

Iowa pork producer to acquire plant, lay off largely immigrant workforce
(DBN)

Spotify Laying Off 200 Employees in Reorg of Podcast Division
(DBN)

Litigation Funder Cuts Staff as Backer Slashes Future Commitment
(DBN)

Duke to cut 280 positions
(DBN)

Alzheimer's Association lays off 9% of staff nationally
(DBN)

Tyson Foods to lay off 262 Dakota Dunes employees
(DBN)

Canadian oil producer Suncor Energy to cut 1,500 jobs
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Fraud:

Gloomy Elizabeth Holmes - aka Inmate 24965-111 - walks the yard in prison-issue khakis wearing her wedding band as insiders claim the Theranos fraudster has been 'twitchy' and 'nervous' as she begins 11-year sentence
(DBN)

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Crypto:

Bankrupt Crypto Companies Are Fighting Over a Dwindling Pot of Money
(DBN)

US regulator accuses Binance of running an illegal exchange S.E.C. Accuses Binance of Mishandling Funds and Lying to Regulators The SEC is going after Binance, and there's one quote from the complaint that's going to be legendary Inside the SEC’s Allegations Against Binance and CZ
(DBN)

Genesis Bankruptcy Judge Extends Mediation Period Between Genesis, Creditors
(DBN)

Judge Rejects FTX’s Inclusion in Genesis Crypto Bankruptcy Talks
(DBN)

FTX’s celebrity, VC backers to face consolidated suits in Miami
(DBN)

US regulator’s net now covers $155 billion of crypto after lawsuit against Binance
(DBN)

Celsius 2.0: Creditor Refunds Timeline as Fahrenheit Hatches New Plan for Failed Crypto Lender
(DBN)

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Healthcare:

Compass Medical files for bankruptcy after sudden closure Compass Medical files for Chapter 7 bankruptcy after abruptly shutting its doors at 6 locations
(DBN)

"I felt so alone": Rising rates of suicide, depression accelerated by pandemic among U.S. kids
(DBN)

In Florida, doctors can cite Succubus but educators can’t teach Morrison
(DBN)

Trans adults in Florida 'blindsided' that new law also limits their access to health care
(DBN)

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Education:

‘Earn while you learn:’ Co-op programs gain appeal amid rising cost of living
(DBN)

Cornel West, Progressive Scholar, Announces Third-Party Bid for President
(DBN)

NY, NJ Governors Ask Publishers Not to Censor School Books
(DBN)

OK: Taxpayer Money Used for Catholic School
(DBN)

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Weddings:

Groom caught texting while walking down aisle at wedding
(DBN)

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Hotels:

Abraham Leifer puts Downtown BK hotel project in bankruptcy
(DBN)

US Hotel Developers Run Out of Cash as Construction Lending Dries Up
(DBN)

Downtown Brooklyn hotel project heads into bankruptcy
(DBN)

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Economy:

The next big threat hovering over the U.S. economy
(DBN)

ISM® Services Index Decreases to 50.3% in May US services sector softens, factory orders boosted by defense U.S. Services Sector Expands at a Slower Pace — ISM
(DBN)

JP Morgan: Signs of De-Dollarization Emerging
(DBN)

The credit crunch will bring a ‘rolling blackout’ of defaults as companies feel the pressure of tighter financial conditions, Bank of America says
(DBN)

US Economy Keeps Adding More Jobs Than Economists Predict, Yet Pessimism Persists
(DBN)

The Fed shouldn't 'sacrifice the economy' in order to reach its 2% inflation target, Moody's chief economist says
(DBN)

Ex-Treasury chief Larry Summers says the Fed should consider a big bump in interest rates in July if it pauses this month
(DBN)

Office workers everywhere are about to face their own Uber moment
(DBN)

A recession is unlikely to hit the US economy in the next 12 months after Friday's hot jobs report
(DBN)

Biden, Don’t Celebrate Debt Ceiling Deal. Instead, Take It to Court
(DBN)

The Fed may have succeeded in beating inflation without tanking the economy, Nobel economist Paul Krugman says
(DBN)

Top economist David Rosenberg sounds the recession alarm, pointing to 2 key indicators that are flashing red
(DBN)

Americans are waiting longer and longer to get married
(DBN)

The “return to the office” won’t save the office
(DBN)

From teachers to waiters: The industries that haven’t bounced back from the pandemic
(DBN)

Pride becomes a minefield for big companies, but many continue their support
(DBN)

US Debt Clock
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World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Black Knight Mortgage Monitor: Home Prices Increased Month-to-month in April; Prices Unchanged YoY
(DBN)

Housing June 5th Weekly Update: Inventory Increased 0.7% Week-over-week
(DBN)

Consumer Financial Protection Bureau Issues “Zombie Mortgage” Advisory Opinion
(DBN)

Mortgage rates jump to highest level since November
(DBN)

Billionaire investor Jeff Greene made $800 million betting against the last housing bubble. He just rang the alarm on US real estate.
(DBN)

Delinquencies spiked in May on mortgage bonds tied to offices
(DBN)

NY: There are Better Ways to Solve a Housing Crisis Than This
(DBN)

California insurance market rattled by withdrawal of State Farm and Allstate for new property policies Now Allstate Flees California Too
(DBN)

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Municipalities:

Highland Park, GLWA strike deal trying to buy time for final settlement
(DBN)

Officials are trying to solve a pressing phenomenon in Los Angeles: People permanently living in RVs on the streets
(DBN)

What Happens When Cities Run Out of Money
(DBN)

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Oil/Gas:

Electric vehicles appeal to conservative buyers sick of gas guzzlers
(DBN)

Fact check: Trump boasts about a massive oil purchase that never happened
(DBN)

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Politics:

The 16 People Who Will Pick the Next President
(DBN)

Can Biden's handshake to a gunfight strategy fix what ails the US?
(DBN)

Disney welcomes Gay Days in Florida as the feud with DeSantis rages on
(DBN)

Robert F. Kennedy Jr. tests the conspiratorial appetite of Democrats Jack Dorsey backs Instagram reinstates Robert F. Kennedy Jr.’s account
(DBN)

Anatomy of a Murder: How the Democratic Party Crashed in Florida
(DBN)

Santos faces court deadline regarding people who secured his $500K bail
(DBN)

Axelrod: Manchin is ‘dead man walking’ in West Virginia
(DBN)

Mike Pence files to run for president Mike Pence is a man without a constituency
(DBN)

Ron DeSantis is drawing from the Trump Supreme Court playbook
(DBN)

All the Republicans running for president in 2024, explained
(DBN)

JPMorgan CEO Jamie Dimon doesn’t plan to run for office: ‘Very happy in his current role’
(DBN)

Trump’s GOP skeptics worry as primary field grows
(DBN)

Ex-Trump adviser says Trump did ‘enormous damage’ to country and GOP
(DBN)

Debt ceiling winners: Vulnerable lawmakers turn lemons into lemonade
(DBN)

GOP presidential candidate Nikki Haley outlines her position on abortion Nikki Haley came out against ‘red flag’ gun laws during her town hall The biggest obstacle facing Nikki Haley’s campaign Nikki Haley takes aim at Trump and DeSantis during CNN town hall Nikki Haley’s new strategy to take down Trump and DeSantis Nikki Haley: 'I would not raise taxes' to fund insolvent entitlements Nikki Haley connects teen girls’ suicidal ideation to transgender girls in locker rooms during CNN town hall
(DBN)

McCarthy’s biggest victory yet comes with political price
(DBN)

Capitol Police stopped a children’s choir from singing the national anthem. Why?
(DBN)

House GOP tees up contempt vote for FBI director as Biden probe heats up
(DBN)

Far Right Turns on Marjorie Taylor Greene—and MTG Hits Back in Text to Matt Gaetz
(DBN)

Kari Lake's entry music at a Scottsdale rally was ... hilarious
(DBN)

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Video Conferencing:

What Does Lifesize’s Bankruptcy Mean for the Industry?
(DBN)

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Celebs:

The Rock's rocky road- Dwayne Johnson's Hollywood struggles continue, but can he wrestle XFL to success?
(DBN)

Young Buck Reportedly Auctioning Catalog To Clear $250K Debt To 50 Cent
(DBN)

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Banking:

Bank Regulators Still Haven’t Learned the Right Lessons of the Failures
(DBN)

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Agribusiness:

After bankruptcy, Garcia Grain Elevators leased for big harvest
(DBN)

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Sports:

NC Courage sign Bally Sports South deal despite ongoing Diamond bankruptcy
(DBN)

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Event Facilities:

Tourism officials bullish about bankrupt park
(DBN)

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Movie Theaters:

Regal Cinemas, National CineMedia Sign New Long-Term Deal
(DBN)

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Edtech:

Ed-Tech Giant Byju's Refuses To Pay $40 Million Loan in Lender Dispute Byju'S Disqualifies Us Lender For 'Predatory' Tactics And Stops Servicing $1.2 Billion Loan
(DBN)

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Food/Beverage:

Cicis owner SSCP tops bankruptcy court bids for Corner Bakery Café
(DBN)

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New Bankruptcy Opinions
(2 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (30 new filings today)
(DBN)

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

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

Commercial Chapter 11 Filings Doubled Over Same Period Last Year
(DBN)

BK NV: Updated Filing Statistics
(DBN)

2022 saw a 20-year low for Mass. bankruptcies. This year could be different.
(DBN)

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Mass Torts:

Bellwether ‘forever chemicals’ trial postponed as parties say they’re close to deal Three companies agree to pay more than $1 billion to settle ‘forever chemical’ claims
(DBN)

Catholic Church Dioceses, Swamped By Incidents of Sexual Abuse of Children, Declaring Bankruptcy
(DBN)

Mallinckrodt evaluating another possible bankruptcy filing as $200 million opioid settlement pay comes due
(DBN)

Second Circuit, Reversing Judge McMahon’s Order, Affirms Purdue Pharma Bankruptcy
(DBN)

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Claims Trading:

Tokenization: the Next Logical Step in Bankruptcy Claims Trading
(DBN)

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Cross-Border:

Recent Decision Clarifies What Kind of Foreign Proceedings Can Access Chapter 15
(DBN)

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UST:

How the U.S. Trustee Program and Trustees Promote Diversity and Inclusion in the Bankruptcy System
(DBN)

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Bankruptcy Rules:

Advisory Committee on Bankruptcy Rules; Meeting of the Judicial Conference
(DBN)

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Aviation:

Flight from Paris to the US diverted to Canada due to an unruly passenger, police say
(DBN)

Vaping helps fuel huge rise in bad behavior on planes
(DBN)

US airplane near collisions keep coming. Now officials are talking about averting ‘catastrophic’ incidents
(DBN)

TSA expands controversial facial recognition program
(DBN)

United Airlines Calls Russian Airspace a ‘Risk’ That Others Embrace
(DBN)

Go First Insolvency: IRP Asked To Reply To Lessors' Pleas For Repossession Of Aircraft, Engines
(DBN)

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Media:

CNN CEO Chris Licht Tries to Soothe Restless Staff: ‘I Should Not Be in the News’
(DBN)

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Pharma:

Mallinckrodt considers second bankruptcy filing, other options Drugmaker Mallinckrodt says lenders propose another bankruptcy filing
(DBN)

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Tech:

Twitter Ad Sales Plunge 59% as Woes Continue Musk concedes Twitter ad revenue is down almost $100m but blames liberals for trying to bankrupt the platform
(DBN)

West Coast States Rode the Tech Boom. Now They Face Higher Unemployment, Falling Wages - WSJ
(DBN)

Six months in, ChatGPT still mesmerizes and dismays
(DBN)

What Sam Bankman-Fried and Elizabeth Holmes Have in Common
(DBN)

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Labor:

Hundreds of Gannett Journalists Walk Out
(DBN)

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Climate:

Top COP28 official: Oil, gas should be at the climate table
(DBN)

Corn Prices Set to Soar After Midwest Hit by Worst Drought in 30 Years
(DBN)

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Retailing:

278 David's Bridal leases across US, including St. Louis area, up for sale as retailer continues search for buyer
(DBN)

Missouri Stores Get Second Chance as Retail Investment Firm Eyes Bankrupt Retail Chain
(DBN)

Bill to Stop Employees Confronting Shoplifters Passed by California Senate
(DBN)

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Autos:

The sneaky way automakers are keeping car prices high
(DBN)

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Data Centers:

Cyxtera files for bankruptcy 2 years after going public
(DBN)

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UK:

English High Court sanctions German real estate group’s ‘wind-down’ restructuring plan
(DBN)

A Bankruptcy Foretold: The UK s Implicit Pension Debt
(DBN)

UK Court Rules Debtor Cannot Use Corporate Vehicle to Evade Liability
(DBN)

UK to house hundreds more migrants on barges, Sunak says
(DBN)

CBI faces crunch vote in battle for survival CBI faces ridicule over senior executive's "transparency" claim
(DBN)

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EU:

European Central Bank chief signals more rate hikes ahead with inflation still ‘strong’
(DBN)

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Canada:

Is Canada still heading for a recession in 2023?
(DBN)

With looming economic slump, employment lawyers advising clients on cost-cutting personnel changes
(DBN)


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Russia:

A member of Putin's NATO equivalent said it is 'not Russia's ally' in the fight against Ukraine, further splintering the alliance
(DBN)

Bakhmut No Longer Under Russian Control, Prigozhin Says
(DBN)

Kyiv dismisses claims Russia repelled Ukrainian counteroffensive
(DBN)

Wagner’s feud with Russian army escalates amid reports of not-so-friendly fire
(DBN)

Russia's economy faces a 'massive brain drain' as over 1 million young workers exit labor force, says former central bank official
(DBN)

Milley: Ukraine is ‘well-prepared’ for counteroffensive
(DBN)

Haley warns Ukraine loss could lead to ‘a world war’
(DBN)

Ukraine has cultivated sabotage agents inside Russia and is giving them drones to stage attacks, sources say
(DBN)

Ukrainian offensive is ‘taking place in several directions,’ defense official says
(DBN)

Nazi Symbols on Ukraine’s Front Lines Highlight Thorny Issues of History
(DBN)

Russian attempts to waste Ukraine’s advanced air-defense missiles with cheap drones are failing, UK intel says
(DBN)

Destruction of critical Ukraine dam is 'ecocide,' Zelensky aide says
(DBN)

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MENA:

Blinken takes aim at Israeli settlements; says US will press ahead with Israel-Saudi normalization
(DBN)

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Japan:

Japan OKs bills to digitalize divorce and bankruptcy procedures
(DBN)

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Sweden:

Creditors say Sweden's SBB breached debt covenant -report A Default Warning From Creditors Preceded SBB CEO’s Exit
(DBN)

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