March 1, 2023

The Daily Bankruptcy News

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3-Column Formating

 

Law:

Perkins Coie lays off 58 business professionals, cites higher costs and workplace transformations
(DBN)

After firm sues its own lawyer for alleged ‘quiet quit,’ she files bias suit; stuffed bear noose cited
(DBN)

Dip in summer associate hiring at firms is bad omen for larger class of 2024, NALP says • Biglaw's Summer Associate Recruitment Cycle Has Taken A Dip Amid Layoffs And Fears Of A Recession
(DBN)

Cheeky Voicemail Costs Law Student Biglaw Opportunity
(DBN)

Law Firm IT Department Prank Results In This Incredibly Silly Email Signature
(DBN)

Merrick Garland Is Going to Have a Long Day in the Senate • Garland Will Champion Justice Department at Senate Hearing
(DBN)

Iconic California bond attorney Fritz Stradling has died
(DBN)

Congressional 'Gang of 8' to get long-awaited briefing on Trump, Biden and Pence classified docs • Senate Intel leaders say Gang of Eight briefing on classified documents ‘left much to be desired’
(DBN)

Rupert Murdoch admits Fox News hosts 'endorsed' election lies and wanted to make Trump a 'non-person' after January 6 riot • Rupert Murdoch said Sean Hannity was 'privately disgusted' by Donald Trump for weeks after the election: court filing • Trump fumes at Rupert Murdoch over his bombshell Fox News Dominion testimony • Murdoch: Hannity was ‘privately disgusted’ with Trump after 2020 election • Fox Huffs About Journalistic Integrity, Even As It Admits To Feeding Biden Data To Trump Campaign • Fox and Trump's marriage of convenience is held hostage by the GOP base • Depositions Leave Fox News in a World of Trouble
(DBN)

Tucker Carlson's staff could view but not record Jan. 6 footage, GOP lawmaker says • McCarthy, GOP pump brakes on release of Jan. 6 footage to Tucker Carlson • Scalise defends McCarthy’s decision to give Jan. 6 tapes to Tucker Carlson as speaker dodges reporters’ questions • Government watchdog report finds FBI, Capitol Police identified but didn't share "credible threats" before Jan. 6 • GOP pushes to give Capitol security footage to Jan. 6 defendants • McCarthy’s Tucker Carlson decision ‘despicable,’ says Schumer
(DBN)

Lawyer: Steve Bannon-linked border wall nonprofit is defunct • Bannon proclaims 'I ain't going to prison' at NYC court appearance
(DBN)

Smith and Wesson Forced to Clarify It’s Not Advertising With the Proud Boys
(DBN)

Trump’s Lawyer’s ‘Rap Lyrics Defense’ Could Keep Trump Out of Jail
(DBN)

A 60-year-old woman died of a stroke in police custody after officers accused her of acting, mockingly offered her a cigarette, and called her 'dead weight'
(DBN)

Lawmakers warn Biden on feds aiding anti-abortion investigations
(DBN)

Florida court dismisses pregnant inmate’s petition to be released over fetus being ‘deprived of liberty’
(DBN)

'Lady in the fridge' is identified nearly 3 decades after she was found in California
(DBN)

Alec Baldwin is sued by three 'Rust' crew members over 'blast injuries' in shooting
(DBN)

Volkswagen refused to track down mom's stolen car with infant inside until bill was paid
(DBN)

Extremist murders are usually from right-wing actors
(DBN)

'Maybe Don't Send 8-Year-Olds To Jail For Eating Paste' Is Something We Required A Federal Court To Rule In 2023
(DBN)

Many Undocumented Immigrants Are Departing After Decades in the U.S.
(DBN)

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Judges:

BK MD GA: Austin Carter named chief judge
(DBN)

The Bankruptcy Judges of the Western District of Texas
(DBN)

Federal Judge Worries Steady Rise In Virulent, Insulting Opinions Might Make Judiciary Look Bad
(DBN)

Justice Ketanji Brown Jackson issues her first majority opinion for the Supreme Court • Unclaimed MoneyGram checks are subject of Jackson’s first SCOTUS opinion in argued case • Much To Delaware's Chagrin, Justice Jackson's First Opinion Is In!
(DBN)

Amy Coney Barrett joins liberal Supreme Court justices in scrutinizing a student-loan company's involvement in one of the lawsuits blocking Biden's debt relief
(DBN)

When Judge Ho Feels The Need To Angrily Call Out The Fifth Circuit's Totalitarianism, You Know Things Are Bad
(DBN)

Dark money and special deals: How Leonard Leo and his friends benefited from his judicial activism
(DBN)

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Wall Street:

 

Dow closes more than 200 points lower Tuesday, major averages end February with losses
(DBN)

Interest rates suggest the stock market is wildly overvalued, JPMorgan's Marko Kolanovic says
(DBN)

The stock market could retest October lows by midyear as a looming recession hits the US economy, Evercore's Julian Emanuel says
(DBN)

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Layoffs:

General Motors cuts 500 salaried employees
(DBN)

Amid layoffs, Salesforce reportedly has been paying Matthew McConaughey more than $10 million a year
(DBN)

One of Elon Musk's most loyal employees was fired at Twitter. Here's how she went from surviving layoffs to the chopping block in the span of a few months.
(DBN)

QVC parent company Qurate lays off 400 as part of turnaround plan
(DBN)

Everett schools may slash 140 jobs
(DBN)

Hundreds Of Apex Legends Playtesters Laid Off During EA Zoom Call
(DBN)

Ticketing service provider Eventbrite to lay off 8% of workforce, relocate roles to India, Spain
(DBN)

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Fraud:

Fugitive in $18 million COVID fraud scheme extradited to U.S.
(DBN)

____________

Rail:

Ohio Train Derailment: Separating Fact from Fiction • East Palestine residents report unusual symptoms after train derailment
(DBN)

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Climate:

California on track for record snow year as storms cause chaos across state
(DBN)

90% of ice around Antarctica has disappeared in less than a decade
(DBN)

Sizzling Heat Wave Puts India’s Farm Sector and Economy at Risk
(DBN)

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Healthcare:

Death, Bankruptcy, and the Public Hospital
(DBN)

FDA acts to restrict import of animal tranquilizer linked to overdose deaths
(DBN)

Here’s why being obese is even deadlier than you might think
(DBN)

We’ve Been Talking About the Lab-Leak Hypothesis All Wrong • FBI director: COVID "most likely" resulted from lab leak • Five takeaways from the big COVID-19 ‘lab leak’ story • Why a final answer on COVID-19’s origins remains out of reach • GOP divided on how to respond to ‘lab leak’ report
(DBN)

____________

Politics:

Ron DeSantis is following a trail blazed by a Hungarian authoritarian • DeSantis Doesn't Believe in Democratic Education • A New York Times book critic says Ron DeSantis' memoir reads like it was 'churned out by ChatGPT'
(DBN)

Trump's February bump • Trump’s polling strength causes heartburn for Senate GOP
(DBN)

House GOP Game Plan: Investigate Everything
(DBN)

GOP stars flee CPAC • Dueling conservative confabs pit Don vs. Ron • DeSantis, McCarthy among GOP leaders missing from CPAC lineup
(DBN)

Trump calls DeSantis ‘wheelchair over the cliff kind of guy’ in odd rant
(DBN)

Marjorie Taylor Greene’s Outbursts Come Back to Haunt Her
(DBN)

House Republican eyeing legislation to prevent Santos from profiting off fabrications if convicted • Santos Faces More Calls for Ouster From Fellow Republicans
(DBN)

Democrats push to end security exemption on Capitol Hill as Republicans demand the right to carry guns
(DBN)

Biden Is Betting on Government Aid to Change Corporate Behavior
(DBN)

Chicago: Lightfoot is out, Vallas and Johnson are in — the April runoff • Lori Lightfoot ousted in Chicago mayoral election
(DBN)

Capitol Hill's great unifier • House panel lays out ‘existential struggle’ with China in primetime debut
(DBN)

House Democrat nods to Kellyanne Conway in push to make Hatch Act violations a crime
(DBN)

Herschel Walker's campaign paid defunct car wash for private jets, sparking concerns from experts
(DBN)

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Banking:

FDIC: Problem Banks Decreased to Record Low 39 in Q4 2022
(DBN)

____________

SPACs:

The SPAC Fad Is Ending in a Pile of Bankruptcies and Fire Sales
(DBN)

____________

Economy:

Why poverty rates are likely to rise this year
(DBN)

Corporate CFOs are going through their own ‘Great Resignation’
(DBN)

Hemorrhaging losses, the Fed’s problems are now the taxpayer’s
(DBN)

How the US can stick the landing, beat inflation, and avoid a recession
(DBN)

Why a ‘Reverse Wage-Price Spiral’ Is the Best Bet for the Fed’s Soft Landing
(DBN)

What slowing corporate profits mean for inflation
(DBN)

Consumer confidence slips again in February, Conference Board says
(DBN)

US economy sending mixed signals: Here's what it all means
(DBN)

Amid stubborn inflation, 60% of Americans still live paycheck to paycheck
(DBN)

Brace for a 'wrathful Old-Testament-style' central bank reaction to sticky inflation that could cause a deep US recession, says JPMorgan
(DBN)

The 6 worst college majors to choose if you want to make a lot of money in your first job, from psychology to hospitality
(DBN)

Majority of countries guarantee paid paternity leave — but not the U.S.
(DBN)

Biden's economic gamble
(DBN)

SNAP cuts could lead to ‘hunger cliff,’ experts fear • Why millions will lose $3 billion in monthly food stamp benefits starting in March
(DBN)

Trump ties GOP in knots over Medicare and Social Security • Entitlement reforms could set Republicans apart in a potentially crowded GOP presidential primary • Senate group wades into tough talks on Social Security
(DBN)

COVID showed the rich that they can't just go wherever they want, so now millionaires are rushing to get 2nd passports
(DBN)

Oregon bill would pay homeless people $1,000 a month
(DBN)

A total Russian collapse is surprisingly close
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

MBA: Mortgage Purchase Applications Decreased, Lowest Level Since 1995
(DBN)

U.S. housing prices could plunge 20%, Dallas Fed warns
(DBN)

Home prices are falling - these 3 cities have seen the biggest drops
(DBN)

Case-Shiller: National House Price Index "Decline Continued" to 5.8% year-over-year increase in December • Comments on December Case-Shiller and FHFA House Prices
(DBN)

Apartment rent prices fall as new units hit market
(DBN)

SoCal home sales fall to all-time low
(DBN)

What Biden’s FHA mortgage fee cut means for buyers
(DBN)

High home prices, rising mortgage rates: It’s tough being a first-time homebuyer
(DBN)

The problem with home-flipping giants
(DBN)

Stalled Dillon condo project, Uptown 240, files for bankruptcy day before foreclosure auction
(DBN)

____________

Municipalities:

A Right-wing Cabal Took Over The Municipal Government in Odessa, Tx. City Employees Are Heading for the Exits
(DBN)

Las Vegas January 2023: Visitor Traffic Down 4.0% Compared to 2019; Convention Traffic Down 24.9%
(DBN)

Bond refinancing for troubled Arizona sports venue is spurned
(DBN)

____________

Oil/Gas:

Oil Prices Climb As China’s Manufacturing Data Stuns Markets
(DBN)

____________

Tech:

U.S. concerns about TikTok are "absolutely valid," expert says • White House: Federal agencies have 30 days to remove TikTok from devices • Republicans want to help Biden ban TikTok
(DBN)

Forget Chatbots, This Is How Corporate America Is Really Using AI
(DBN)

Voice Deepfakes Of Everyone From Rogan To Biden Taking Over Social Media
(DBN)

Twitter launches Violent Speech Policy with zero tolerance for ‘severe cases’
(DBN)

Companies scramble to incorporate generative AI in products
(DBN)

Elon Musk promises 'very significant' Twitter stock awards for remaining employees after latest round of layoffs, report says
(DBN)

____________

Food/Beverage:

Corner Bakery declares bankruptcy as reduced commuter footfall hampers trade
(DBN)

Store closures begin just days after rival to Panera Bread files for bankruptcy with fears 140 locations could shut
(DBN)

____________

Crypto:

FTX Bankruptcy – A Failure of Centralized Governance in the Name of Decentralized Cryptocurrencies
(DBN)

Regulation in the Post-FTX Environment: SEC’s Proposed Enhanced Custody Rule and Its Effects on Crypto
(DBN)

Binance used customer funds for its own purposes in a move similar to FTX scandal: report
(DBN)

Ex-FTX chief engineer pleads guilty to federal charges • Sam Bankman-Fried’s donations may have been tens of millions more than we thought
(DBN)

FTX's Singh pleads guilty as pressure mounts on Bankman-Fried • SEC, CFTC Charge FTX's Singh With Fraud Following Criminal Plea
(DBN)

Mt. Gox Bankruptcy Repayments Unlikely to Destabilize Bitcoin: UBS
(DBN)

Crypto Lender Voyager Received Single-Page Value Statement From Hedge Fund Three Arrows Capital
(DBN)

Crypto Lender Voyager Says Majority of Customers Voted for Restructuring Plan With Binance US • Binance.US restructuring plan favored by 97% of Voyager customers
(DBN)

French National Assembly Votes for Tougher Registration Rules for Crypto Firms
(DBN)

Cryptocurrency consumer advocacy group pushes back on SEC crackdown
(DBN)

The Original King of Crypto Is Back
(DBN)

____________

Fraud:

Angry creditors lambast CEO of Kansas asset-swap business
(DBN)

Fugitive in $18 million COVID fraud scheme extradited to U.S.
(DBN)

____________

Movie Theaters:

AMC Entertainment Q4 Sales Dip, Losses Widen; CEO Sees 2023 Recovery But Says Shareholders Must Approve Key Cash-Raising Measures
(DBN)

____________

Student Debt:

Feds propose 'student loan safety net' alongside forgiveness
(DBN)

Wither Student Debt Cancellation? Conservative Justices Showed Determination but a Lack of Conviction
(DBN)

The Supreme Court showdown over Biden’s student debt relief program, explained • Biden's student-loan forgiveness plan is in jeopardy. Here are 4 major takeaways from the Supreme Court's oral arguments. • Biden’s student-loan forgiveness plan gets cold reception from conservative justices • Student-debt relief meets with skepticism from majority of Supreme Court justices • Student loan forgiveness: Key statements from each justice • Sonia Sotomayor Has Thoughts On Conservative Justices' Plans To Cancel Biden's Student Loan Forgiveness • Top takeaways from student loan forgiveness arguments at the Supreme Court • Student loan debt and the Court • Outside Supreme Court, Students Rally for Loan Forgiveness • What to know about the challenges to Biden's student debt relief program • In challenges to student-debt relief, big questions about agency authority and the right to sue • Supreme Court questions Biden administration lawyer on legality of student loan relief • What to know as student debt forgiveness heads to the Supreme Court • Supremes appear skeptical of Biden student debt relief plan • Student loan borrowers watch Supreme Court case with "pain and anxiety" • As court debates student loans, borrowers see disconnect • Students, don’t count on loan debt forgiveness ever happening again
(DBN)

When can student loan borrowers expect the repayment pause to end?
(DBN)

____________

Education:

Stratford University files for bankruptcy; president, vice president listed as biggest creditors
(DBN)

New College of Florida trustees vote to abolish DEI programs, even as students protest against conservative overhaul of school
(DBN)

DeSantis Now Pushing a Ban on Gender Studies
(DBN)

Florida considers expansion of 'Don't Say Gay'
(DBN)

____________

New Bankruptcy Opinions
(2 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (17 new filings today)
(DBN)

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

Bankruptcy Code (html) - Bankruptcy Code (pdf) • Prior BK Codes (pick year from list) - Bankruptcy Rules
(large downloads)

UCLA-LoPucki Bankruptcy Research Database
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Mass Torts:

Sandy Hook families get approval to dig into Alex Jones's finances
(DBN)

Lawyers flock to East Palestine after train derailment, hosting information sessions and signing up clients
(DBN)

Sacramento Catholic Diocese facing insolvency due to ‘staggering number’ of sex abuse claims
(DBN)

____________

Bankruptcy Research:

A Brief Defense of Bankruptcy Exceptionalism
(DBN)

____________

Barton Doctrine:

Applying the Barton Doctrine, the Fifth Circuit Deepends Its Schism with the Eleventh
(DBN)

____________

UCC:

Proposed UCC Amendments: Old Article 9 & New Article 12
(DBN)

____________

Insurance:

Protecting the Parties’ Rights Under ‎Qualified Financial Contracts and Netting Agreements ‎When an ‎Insurer Goes Into Receivership
(DBN)

____________

Aviation:

Man tried to board flight with machine gun, fake U.S. Marshal badge, feds say
(DBN)

JetBlue flight and Learjet have 'close call' at Boston Logan International Airport, feds say
(DBN)

Longing for the ‘golden age’ of air travel? Be careful what you wish for
(DBN)

China’s Biggest Budget Carrier Adds to Chorus of Weak Air Demand
(DBN)

____________

Autos:

Ford Files Patent For Self-Repossessing Vehicles That Drive Themselves Away If You Skip Your Payments
(DBN)

Car Debt Is Piling Up as More Americans Owe Thousands More Than Vehicles Are Worth
(DBN)

Used car market flashing inflation warning
(DBN)

Carmaker Aston Martin's losses almost triple
(DBN)

Is the Party Over for Carvana Stock?
(DBN)

Tesla is Losing Its Most Loyal Customers • Tesla's China sales slow as price-cut boost wanes
(DBN)

____________

Sovereigns:

Sri Lanka workers defy strike ban to protest IMF bailout plan
(DBN)

Ghana Misses Restructuring Target in Blow to Ailing Currency
(DBN)

Record Pakistan Inflation Fanned by Price Hikes Set by IMF
(DBN)

____________

UK:

Will Changes to the Option To Tax Regime Impact UK Insolvency Sales?
(DBN)

Reed Smith expands restructuring and insolvency team in London
(DBN)

The not so artful dodger: art dealer ordered to draw maximum pension sums to pay creditors
(DBN)

Failed battery firm gets a Recharge
(DBN)

Surrey Heath council tax hike agreed and average home to pay £2,226
(DBN)

UK house prices post sharpest annual fall for a decade
(DBN)

UK Mortgage Approvals Fall to Lowest Since First Lockdown
(DBN)

Harry and Meghan evicted by King Charles
(DBN)

____________

EU:

Eurozone's zigzag path to arresting inflation
(DBN)P

____________

Canada:

Canada's Economy Surprises With Q4 Flat Line, Backing Up Rate Pause
(DBN)

____________

Hong Kong:

Appleby’s Hong Kong Office Further Expands Its Restructuring Practice
(DBN)

____________

Russia:

Russia shoots down China's peace plan for the Ukraine war as Beijing becomes more entangled in the conflict a year into the fighting • Russia Lays Out Ukraine Negotiation Terms
(DBN)

A view from Crimea, the Russian-annexed territory Ukraine is hoping to seize back
(DBN)

Putin is losing the race against time in Ukraine
(DBN)

United Nations chief decries "massive" human rights violations in Ukraine
(DBN)

Americans grow numb as war in Ukraine drags on past 1-year mark
(DBN)

Drones Attack Russia From All Sides • Drone Crashes Near Moscow, Two Others From Ukraine Downed In South Russia • Drones fly deep inside Russia; Putin orders border tightened
(DBN)

Putin paying Palestinians in Lebanon refugee camps to fight in Ukraine - report
(DBN)

Hungary’s Viktor Orbán plays spoilsport on NATO accession for Finland, Sweden
(DBN)

Putin Unlikely to Use Nukes in Ukraine, Pentagon Says
(DBN)

Russia will emerge from the Ukraine war a ‘shattered military power,’ top Pentagon official says
(DBN)

How Ukraine is trying to make Russia pay for crimes against women
(DBN)

____________

China:

Prerequisites, exemptions for fledgling personal bankruptcy system
(DBN)

Bankruptcy reorganization: revealing an investment window
(DBN)

Save time and money with pre-reorganisation rescue planning
(DBN)

China’s factory activity grows further, marks its highest reading in nearly 11 years
(DBN)

China Leaders Surprised by Pace of Economy’s Rebound
(DBN)

Chinese Stocks Rebound After Terrible Month on Upbeat Data
(DBN)


China’s CCP warns Elon Musk against sharing Wuhan lab leak report
(DBN)

Lukashenko arrives in Beijing as concerns rise around China-Russia relations
(DBN)

China is sitting on a trove of hacked American business and personal data, report finds
(DBN)

Why Can’t Democrats Explain Themselves on China? • China Select Committee hearing highlights partisan divide on Beijing-countering strategy
(DBN)

____________

MENA:

‘Huge uncertainty’ for investors and economy as Israel’s government pushes for controversial reforms • The shepherd boy, the wolf and the threat to Israeli democracy
(DBN)

'No entry for women' signs placed across Tel Aviv streets
(DBN)

Top US Defense official says Iran could produce ‘one bomb’s worth of fissile material’ in ‘about 12 days’
(DBN)

Watchdog: Poor Planning is Why Taliban Won
(DBN)

____________

Sweden:

Swedish Bankruptcies Rise as Lower Consumption Hits Retailers
(DBN)

____________

India:

Proposed Amendments to the Insolvency and Bankruptcy Code- A Real Solution For Real Estate Insolvencies?
(DBN)

____________

Brazil:

Brazil court approves Americanas payment of wages, some debts
(DBN)

Brazilian companies facing tightening credit conditions
(DBN)

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