June 7, 2023

The Daily Bankruptcy News

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3-Column Formating

 

Law:

Top lawyer goes public with decision to walk away from ‘BigLaw partnership’ offers
(DBN)

Biglaw Associates Under 'Constant Pressure' To Bill, Bill, Bill
(DBN)

A New Law School Reigns Supreme In The U.S. News Law School Omnibus Specialty Rankings
(DBN)

Schiller Knapp law firm facing insolvency, files for bankruptcy protection
(DBN)

How To Work Fewer Holiday Weekends In Biglaw
(DBN)

Corporate attorney and alleged serial rapist appears in court as his fiancée looks on
(DBN)

Barber Ranen Leaders Resign From Their Own Firm After Racist, Sexist, Antisemitic Emails Are Leaked Ex-Lewis Brisbois Partners Ousted Over Racist, Sexist Emails
(DBN)

Alan Dershowitz Demands Time To Write Law Review Article Explaining Why He Can't Be Sanctioned
(DBN)

This Prestigious Biglaw Firm Saw A 'Steep Decline' In Gross Revenue
(DBN)

'Do Your Research,' 'Stick It Out,' And Other Things Law Schools Should Stop Telling Students About Clerkships
(DBN)

The Biglaw Files: How Power And Privilege Harm The Legal Profession
(DBN)

We ‘live on a pro se planet;’ 5th Circuit allows parents to sometimes represent children without lawyers
(DBN)

Bryan Cave partner on leave after arrest in undercover sting investigation
(DBN)

Bar Exam Prep Company Goes Down For The Day... Please Don't Panic
(DBN)

Bar admission denied for applicant who rose to law firm partnership without law license
(DBN)

House GOP turns its sights to DOJ’s Trump probe Trump lashes out after lawyers meet with DOJ George Conway: It’d be ‘kind of fitting’ if Trump is jailed for ‘something so stupid’ as keeping documents Jim Jordan seeks memo on Smith appointment as Mar-a-Lago probe winds down Jack Smith grand jury to meet in Florida to hear testimony in Trump documents case
(DBN)

GOP lawmakers preview defense if Trump indicted on federal charges
(DBN)

FBI had reviewed, closed inquiry into Biden claims at center of Hill fight
(DBN)

Trump’s next indictment is looming — and the evidence against him is trickling out
(DBN)

Barr pushes back on Trump: This is not a ‘witch hunt’ Bill Barr: I Warned Trump He'd Be Impeached
(DBN)

Mark Meadows Testified to Grand Jury in Special Counsel Investigation of Trump
(DBN)

Alex Jones lawyer wants to take on appeal for Proud Boy convicted of seditious conspiracy
(DBN)

Trump fights for survival of $500M lawsuit against ex-fixer Michael Cohen
(DBN)

62 percent say Trump should not be allowed to serve again if convicted of ‘serious’ crime: survey
(DBN)

How a Fringe Legal Theory Became a Threat to Democracy
(DBN)

House Oversight leaders clash after viewing FBI document on Biden allegations Wray lands at center of GOP-FBI grudge match
(DBN)

Oregon is invested in Fox Corp. and is investigating its board over bogus election fraud claims Oregon Attorney General Launches Investigation Of Fox Corporation Board Over $787.5 Million Dominion Settlement
(DBN)

Fox legal chief said to have misread defamation case
(DBN)

Oath Keepers member pleads guilty to felony in Jan. 6 case
(DBN)

Walmart is found not liable after detaining a customer who refused to show receipts at the door
(DBN)

Atlanta council approves controversial "Cop City" after heated meeting
(DBN)

Prince Harry Concedes Tabloid’s Stories Might Not Have Been Illegally Obtained Testimony Is Another Chapter in What Has Become a Life of Litigation The prince who fell to earth Five inconsistencies in Prince Harry’s testimony revealed as he repeatedly admits ‘I don’t know’ in High Court grilling Everything You Need To Know About Prince Harry's First Day In Court
(DBN)

Human Rights Campaign declares state of emergency for LGBTQ+ people
(DBN)

Newsom threatens DeSantis with kidnapping charges over migrant flights ‘Pathetic man’: The California-Florida rivalry just exploded Florida officials mum as second migrant flight arrives in Sacramento Florida confirms it sent migrants to California Florida officials could still face charges over migrant flights, Gavin Newsom says DeSantis administration takes credit for sending migrants to California, sharing video of them dancing and saying 'Thank you' Florida says migrants flew to Sacramento voluntarily but California officials say the asylum seekers were deceived California officials: Florida picked up asylum-seekers on Texas border and flew them to Sacramento
(DBN)

Florida notches another legal win over Biden on immigration
(DBN)

Son of late CIA director cautions against far-right extremism in the US
(DBN)

Over 300 Cases Tied to Convicted N.Y.P.D. Officers Are Tossed Out
(DBN)

US cannot disarm people convicted of non-violent crimes -appeals court
(DBN)

Moment hundreds of migrants rush across the Mexico-United States border bridge to reach Texas, knocking down Mexican border agent while children fell to the ground and were trampled
(DBN)

Mother fatally shot by neighbor after dispute over playing children, sheriff says Black mom shot dead through front door of neighbor who allegedly called her kids 'slaves' Woman arrested in connection with the shooting death of Black Florida mother who was killed after knocking on neighbor’s door
(DBN)

This Cop Got Out of 44 Tickets by Saying Over and Over That His Girlfriend Stole His Car
(DBN)

Two killed and five injured in shooting at Virginia graduation
(DBN)

New York state trooper charged in deadly shooting captured on bodycam video after high-speed chase
(DBN)

Jeffrey Epstein victims plead with JPMorgan execs to admit they knew about abuse
(DBN)

Houston lawyer Tony Buzbee says he will lead Ken Paxton’s impeachment defense
(DBN)

Indiana man charged with threatening to kill Rep. Jim Banks and his family over politics
(DBN)

Bothered by pot smell, she sued her neighbor to stop smoking — and won
(DBN)

He Spent a Decade in Jail Without Being Convicted. Now His Lawyer Says His Case Should Be Dismissed.
(DBN)

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Judges:

BK NH: Closed on 6/19 For Juneteenth National Independence Day BK VT: Notice of Closure: Juneteenth Holiday
(DBN)

From The Bench To Biglaw: Judge Paul Watford Lands At Top 50 Am Law Firm
(DBN)

Attorney for billionaire at center of Clarence Thomas controversy offers to meet with Judiciary staff Harlan Crow Agrees to Speak with Senate Panel
(DBN)

Most Federal Employees Face More Oversight Than Clarence Thomas and Supreme Court
(DBN)

Judge Elizabeth Scherer allowed "her emotions to overcome her judgment" during Parkland school shooting trial, commission says Parkland shooter's trial judge deserves reprimand for hugging prosecutors, panel finds
(DBN)

Court Picks Face Trickier Path as Senate Eyes Red-State Judges
(DBN)

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Wall Street:

Stock futures are flat after S&P 500 notches highest close since August
(DBN)

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Layoffs:

Layoffs Surge 315%
(DBN)

Defunct Sprout agrees to pay $3.5M for unpaid wages
(DBN)

Hundreds of paraeducators receive layoff notices in Marysville SD
(DBN)

Facing ‘substantial financial challenges,’ St. Dominic to layoff 5.5% of workforce
(DBN)

87 permanent layoffs set at Johnson City flooring plant
(DBN)

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Retailing:

Bed Bath & Beyond’s final days bring chaos, confusion and rude customers: ‘It’s all a mess’
(DBN)

Retail giant offered a lifeline after filing for bankruptcy – but deal would see all 365 stores close for good
(DBN)

Potential Buybuy Baby Deal Portends a Rising Retail Trend
(DBN)

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Golf:

PGA Tour agrees to merge with Saudi-backed LIV Golf 9/11 families group slams PGA Tour over LIV Golf merger: 'Paid Saudi shills' PGA Tour, LIV Golf & DP World Tour merger: Players 'shocked and angry'
(DBN)

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Crypto:

Genesis Receives Extension for Filing Bankruptcy Recovery Plan
(DBN)

Bankers Shopping FTX's 'Hundreds of Millions of Dollars' Stake in AI Startup: Report FTX Considers Selling Stake in AI Startup to Repay Customers, Report Says
(DBN)

SBF upset by criminal trial's late evidence while FTX seeks sale of AI stock
(DBN)

The SEC charges Coinbase with violating securities regulations Coinbase Stock Down Over SEC Probe Coinbase Is Facing a ‘Life or Death’ Battle With the SEC
(DBN)

US declares war on Wild West crypto: Binance and Coinbase exchanges targeted in major crackdown Crypto billionaires’ wealth crushed by US SEC after big 2023 bounce
(DBN)

As the crypto lawsuits pile up, Cramer says get out while you can
(DBN)

Staggering $780 Million Outflows from Binance in Last 24 Hours Binance U.S. clients have $2.2 billion at risk after crypto firm charged, SEC says
(DBN)

SEC asks for emergency order to freeze Binance US assets anywhere in the world Zhao-controlled Binance trading firms at heart of SEC lawsuit
(DBN)

Biden's crypto cop taunts Republicans
(DBN)

Kardashian Crypto Hype Lawsuit Advances Over Alleged False Ads
(DBN)

What the Collapses of Signature Bank and Silvergate Capital Mean for Crypto
(DBN)

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Labor:

Media's summer of strikes
(DBN)

Actors Union Votes to Authorize Strike Against Studios as Tension Rises in Hollywood - WSJ
(DBN)

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Corporate Governance:

Monitoring Cash Flows: The Board, the CLO, and the CFO
(DBN)

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Media:

Chaos looms over CNN
(DBN)

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Economy:

Everyone is getting less productive, and that's a big problem for the economy
(DBN)

Who won the debt ceiling fight?
(DBN)

Goldman Lowers US Recession Probability to 25% After Debt Deal There are 2 big reasons why the chances of a recession in the next year have dropped, according to Goldman Sachs
(DBN)

CEOs increasingly foresee a "soft landing" for the economy
(DBN)

The US is in a 'cardboard box recession' that's pointing to a sharp fall in inflation by the end of the year
(DBN)

Black Unemployment 70% Higher Than White
(DBN)

U.S. Mood Remains Glum; 18% Satisfied With State of Nation
(DBN)

Struggling Companies That Got Debt Lifelines Are Failing Anyway
(DBN)

World Bank Says Global Economy in Precarious State as Rates Rise World Bank warns of a sharp slowdown for a wobbly global economy
(DBN)

World Economy Set for Weak Inflation-Plagued Recovery, OECD Says
(DBN)

Global Economy’s ‘Precarious’ Year Echoes 1997 Crisis
(DBN)

Poorest countries are biggest losers from economic shocks, says World Bank
(DBN)

Chipotle Calls Corporate Staff Into Office Four Days a Week
(DBN)

US banks' commercial and industrial loan growth slowed in Q1
(DBN)

It may be healthy for the economy to see ‘a little bit of a bust’: Deutsche Bank
(DBN)

New economic study puts it plainly: California’s competitive edge is declining
(DBN)

Companies That Embraced Social Issues Have Second Thoughts - WSJ
(DBN)

A German state refuses to buy Treasurys because the US doesn't meet its ESG standards
(DBN)

More than 200 LGBTQ groups demand Target restock 'tuck-friendly' swimsuits and take a stand against 'anti-LGBTQ+ extremists' within next 24 hours - as supermarket faces dual backlash after shedding $14bn after debacle
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

House selling times soar to pandemic levels as mortgage rates climb
(DBN)

CoreLogic: House Prices up 2.0% YoY in April
(DBN)

Mortgage demand drops despite rates coming off recent highs
(DBN)

US house prices may slide as their recent strength and steeper mortgage rates hit demand, Wharton professor Jeremy Siegel says
(DBN)

Elon Musk warns house price declines will accelerate as higher interest rates squeeze buyers
(DBN)

The Next Crisis Will Start With Empty Office Buildings
(DBN)

This American Housing Market Is Crumbling
(DBN)

Climate change has insurers pulling back in some areas
(DBN)

Florida’s home insurance rates rising faster than any state, nearly triple U.S. average
(DBN)

State Farm and Allstate’s moves are warning signs
(DBN)

California insurance market rattled after withdrawal of some major companies
(DBN)

Flagship hotels are becoming collateral damage in San Francisco's office mess
(DBN)

Owner Abandons San Francisco Hotels as City Begs for Tourists to Return
(DBN)

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Municipalities:

TX: Rural School Districts Are Facing Financial Ruin. Some State Officials Prefer It That Way.
(DBN)

Oregon Breakaway Down to Just 8 Votes
(DBN)

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Banking:

McKinsey’s little-known role in the collapse of Silicon Valley Bank
(DBN)

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Climate:

Uninsurable America: Climate change hits the insurance industry
(DBN)

‘Carbon budget’ proposal says US would owe $80 trillion to developing countries
(DBN)

Fungi may offer ‘jaw-dropping’ solution to climate change
(DBN)

Biden administration announces $2.6 billion toward coastal climate resilience
(DBN)

Finding Ways to Get Polluters to Pay for Climate Damages
(DBN)

Arctic Summer Could Be Practically Sea-Ice-Free by the 2030s
(DBN)

Finding Ways to Get Polluters to Pay for Climate Damages
(DBN)

Climate Crisis Is on Track to Push One-Third of Humanity Out of Its Most Livable Environment
(DBN)

New York Has World’s Worst Air Pollution as Canada Wildfires Rage
(DBN)

Building activity produces 18% of emissions and a shocking 40% of our landfill waste. We must move to a circular economy – here’s how
(DBN)

Aviation Will Miss 2050 Net Zero Target
(DBN)

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Politics:

Embattled House Rep. George Santos Says He Would Rather Go to Jail Than Disclose Who Paid His $500,000 Bail Judge grants request for George Santos’s bond sponsors to be unsealed
(DBN)

Conservatives surprise McCarthy with floor rebellion over debt deal anger GOP hardliners revolt and derail McCarthy’s agenda in retaliation over speaker’s debt limit deal Hard-right Republicans, still angry over debt ceiling, foil McCarthy on vote
(DBN)

Chris Christie likens ‘mirror hog’ Trump to Voldemort in speech Christie bashes Trump: 5 takeaways from Christie’s presidential town hall 'Go big!': Chris Christie says Trump and Biden made us 'smaller' – then brands Trump a 'self-serving mirror hog' and accuses Jared and Ivanka of ‘grift’ while ripping Republican 'pretenders' who refuse to attack him Chris Christie Goes After Ivanka and Jared Kushner: ‘The Grift From This Family Is Breathtaking’ Chris Christie just made the GOP primary pettier with his deep beef against the Kushners
(DBN)

Team DeSantis bets big on angrier GOP base
(DBN)

Ron DeSantis loses big in court as judge issues scathing ruling on his anti-trans healthcare law: 'Gender identity is real'
(DBN)

Trump, DeSantis in open warfare as 2024 race heats up
(DBN)

Nearly half of voters would consider backing third-party candidate in 2024: poll
(DBN)

Christie Enters '24 Race as Chief Trump Antagonist 55 Things You Need to Know About Chris Christie
(DBN)

Freedom Caucus pumps brakes on talk of ousting Speaker McCarthy over debt bill
(DBN)

Republicans Are No Longer Calling This Election Program a ‘Godsend’
(DBN)

U.S. Same-Sex Marriage Support Holds at 71% High
(DBN)

Georgia GOP descends further into acrimony over plan to purge 'traitors'
(DBN)

'Every single of one my shows was canceled': Florida drag performer struggles after new legislation
(DBN)

Dream of reparations hits political reality in California New York legislators to pass bill creating a reparations study commission
(DBN)

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Food/Beverage:

Bud Light sales plunge by 23.9% as brand risks losing No. 1 status
(DBN)

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Student Debt:

3 big changes student loan borrowers could see when payments restart
(DBN)

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Hotels:

Owner defaults on loan for Hilton Union Square and Parc 55 downtown SF hotels
(DBN)

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Sprots:

London Irish becomes 3rd team banished from England's top rugby league amid financial crisis
(DBN)

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Fishing:

Nova Austral warns insolvency proceedings a possibility amid financial woes
(DBN)

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Credit Repair:

Credit repairer PGX begins bankruptcy with $12 million loan
(DBN)

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Weight Loss:

Jenny Craig goes under in Australia
(DBN)

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Data Centers:

Maybank lowers target on MIT as tenant bankruptcy adds to headwinds
(DBN)

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Transit:

‘Incompetent’ driverless cars are wreaking havoc on San Francisco
(DBN)

Amtrak CEO says ridership near pre-pandemic levels Amtrak CEO: Pandemic delayed profitability by years
(DBN)

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Nursing Homes:

The threat hiding in plain sight
(DBN)

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Autos:

‘Public nuisance’: New York sues Hyundai and Kia, alleging their cars are easy to steal
(DBN)

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Entertainment:

TV’s streaming model is broken
(DBN)

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Agribusiness:

One of AppHarvest’s largest farms risks foreclosure in creditor lawsuit demanding payment
(DBN)

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New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (20 new filings today)
(DBN)

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

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

US corporate bankruptcies tick up in May; year-to-date total highest since 2010
(DBN)

Commercial and individual bankruptcies on the rise across U.S.
(DBN)

From Party City to Bed Bath & Beyond: Bankruptcies just hit their highest level since the Great Recession
(DBN)

BK ME: May 2023 Statistics
(DBN)

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Cross-Border:

Enhancing efficiency and rescue outcomes in Cross-border Insolvency matters
(DBN)

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Mass Torts:

White & Case Requests $70 Million for Boy Scouts Bankruptcy
(DBN)

Purdue’s Bankruptcy Deal With Sacklers Raises Bar for Others - WSJ
(DBN)

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Third Party Releases:

Third-Party Releases Possibly Headed to SCOTUS Following Purdue Pharma Plan Confirmation
(DBN)

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Cure Claims:

No Cuts, No Buts, No Coconuts: The Second Circuit Limits Who May Assert Priority Cure Claims in Bankruptcy
(DBN)

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Intercreditor:

Infamous Serta Debt Deal Deemed in ‘Good Faith’ by Federal Judge
(DBN)

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Avoidance Actions:

Third Circuit: Pre-Bankruptcy Commercial Lease Termination Not Fraudulent Transfer
(DBN)

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Sales:

I Can Use § 363 for That?!
(DBN)

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Mediation:

3M CEO Ordered To Personally Attend Mediation Sessions (In re 3M Combat Earplug Litigation)
(DBN)

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Aviation:

Wild video show unruly passenger spits on people while being dragged off Southwest flight
(DBN)

Plane that crashed in Virginia lost contact with air traffic controllers during ascent, feds say Hamptons realtor killed in plane crash was adopted by Trump donors when she was 40
(DBN)

Over a Month Since Pause In Operations: What’s In Store For Go First?
(DBN)

SpiceJet case: Petitioner gets time for rejoinder
(DBN)

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Tech:

Big Tech rolls back misinformation measures ahead of 2024
(DBN)

Senators warn Twitter of data security, legal concerns since Musk’s takeover
(DBN)

Mark Cuban says Musk, Altman are right to warn of potential AI doomsday: 'It's not an overreach'
(DBN)

Apple's Vision Pro has a familiar fatal flaw: They are nerd goggles that will make most people look uncool People who were whisked away in golf carts to try out Apple's $3,500 headset are calling it 'magic' that is 'still searching for a purpose'
(DBN)

'Must deepen our expertise': Senators plan trio of AI briefings, including classified session
(DBN)

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Healthcare:

This rural California county lost its only hospital, leaving residents with dire healthcare choices
(DBN)

Compass Medical files for bankruptcy. Here's what might happen next
(DBN)

Using video games as medical treatments seemed promising, but a stunning failure raises questions about the future of digital therapeutics
(DBN)

Republicans’ abortion bans are nothing like those in Europe
(DBN)

 

Money woes can lead to devastating delays in cancer diagnoses
(DBN)

Appeals court to hear arguments about ObamaCare preventive coverage
(DBN)

Judge rips Florida's 'bigotry' behind trans medical ban, says it's likely unconstitutional
(DBN)

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Education:

Partisan divides over K-12 education in 8 charts
(DBN)

Current College Students Say Their Degree Is Worth the Cost
(DBN)

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Pharma:

More states embrace drug price boards to curb health costs
(DBN)

Merck sues over Medicare drug price negotiations
(DBN)

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Consumer Finance:

The High Cost of Bad Credit
(DBN)

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Bedding:

US mattress maker Serta Simmons receives Chapter 11 plan approval
(DBN)

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Fraud:

Green juice no more: Elizabeth Holmes can expect hot dogs, macaroni, and tacos in prison
(DBN)

Court supervision ends for last Rigas family member in Adelphia fraud scandal
(DBN)

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Sovereigns:

Amid Economic Crisis, Pakistan Government's Debt Rises To Over Rs 58 Trillion
(DBN)

Ghana Sends Debt Rework Proposal to Official Creditors: Sources
(DBN)

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UK:

Bankrupt Thurrock Council set to increase fees for services
(DBN)

UK Homebuilding Shrinks at Pace Seen in 2009 Crash as Rates Soar
(DBN)

UK Shoppers See More ‘Shrinkflation’ in Supermarket Aisles
(DBN)

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EU:

ECB’s Lagarde Says Price Pressures Strong, Rate to Rise More Euro-Area Core Inflation Eases But Won’t Stop ECB Raising Rates
(DBN)

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Canada:

Cannabis Retailer Fire & Flower Files for Bankruptcy Protection
(DBN)


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China:

China property liquidation risk heightened by delisting threat, says S&P
(DBN)

China’s exports plunge by 7.5% in May, far more than expected
(DBN)

Youths in China are abandoning white-collar jobs for ‘light labor’
(DBN)

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Russia:

Destruction of Dam in Ukraine Threatens Flooding in Battle Zone Engineers modeled the disastrous flood that would follow a key dam in Ukraine being destroyed. The reality is even worse, they say Destruction of key dam in Ukraine causes flooding, raises nuclear risks 'Forced to evacuate': Kherson locals rage at Russians Towns Submerged, Villages Evacuated As Dam Breach Floods Southern Ukraine ‘Terrorists’: Ukraine Accuses Russia of Blowing Up Huge Dam Minister: Ukraine is evacuating residents as fast as possible Dam sabotage creates Ukraine's worst environmental disaster 'since Chernobyl' Satellite images show the Kakhovka dam was already partially damaged days before it collapsed: reports Ukrainian troops saw Russian soldiers swept away in floodwaters Who benefits from breaching the dam? Dam Destroyed in the Dead of the Night Upstages Ukraine’s Counteroffensive Ukrainian dam collapse is a "monumental" catastrophe, UN chief says
(DBN)

U.S. had intelligence of detailed Ukrainian plan to attack Nord Stream pipeline
(DBN)

Why Have So Many Neo-Nazis Rallied to Ukraine's Cause?
(DBN)

For Russia and Ukraine, The Battlefield Includes The Economy
(DBN)

The Russian official with a none-too-subtle message from the boss
(DBN)

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MENA:

Iran claims it has hypersonic missile
(DBN)

Drought drives economic exodus from Iraq's rivers and marshlands
(DBN)

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Germany:

German economy at risk as companies plan to leave country
(DBN)

Germany Is Running Out of Workers, Putting Growth in Jeopardy
(DBN)

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Spain:

Insolvencies Up 31% In Spain In May, 699 Companies File
(DBN)

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Brazil:

Veteran Distressed Investor to Vote for Rio Utility’s Bankruptcy
(DBN)

Brazil Regulator Charges Rial and Duarte Neto in Americanas Case
(DBN)

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Australia:

High-profile criminal lawyer sues herself into bankruptcy
(DBN)

Australia’s economy expands 2.3% in the first quarter, slowest growth in 1½ years Australia’s Crashing Yield Curve Doubts RBA Hope of No Recession Australia’s Economy Cools as Aggressive Rate Hikes Take Toll
(DBN)

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