March 10, 2023

The Daily Bankruptcy News

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Law:

Firms Laying Off Associates Have Misread The Market
(DBN)

Progress For Women In The Legal Profession Is Moving At A Glacial Pace
(DBN)

Joel Moss Joins Cahill’s New York Office as a Bankruptcy and Restructuring Partner Shearman’s Restructuring Co-Head Joel Moss Jumps to Cahill
(DBN)

Gibson Dunn Bolsters Bankruptcy Practice With Finance Partner Chad Nichols in Houston
(DBN)

Shearman leader will ‘begin to pass the torch’ after failed merger talks, overseas partner departures
(DBN)

The Elite Law Schools Whose Graduates Contribute The Most To Climate Change
(DBN)

Post-Pandemic Parents' Survival Skills Can Help Us Become The Next Generation Of Law Firm Leaders
(DBN)

UK: Ex-Gowling WLG solicitor admits sending candid video to teenage colleague, says she encouraged x-rated conduct
(DBN)

Solicitor caught working secretly against his own firm fined £32,000
(DBN)

It's Time To Say Goodbye To The LSAT
(DBN)

80 Former Congress Members Mishandled Classified Documents
(DBN)

Ex-Trump Lawyer Ellis Admits Twisting the Truth Over 2020 Election Pro-Trump lawyer Jenna Ellis got a slap on the wrist for admitting she misrepresented evidence 10 times while trying to overturn the 2020 election Donald Trump lawyer who pushed false voter fraud claims after 2020 election admits to misconduct Trump Lawyer Jenna Ellis Declares Flawless Victory After Stipulation Of Misconduct In CO Bar Complaint
(DBN)

Lawyer who asserted Trump ‘won in a landslide’ on national TV censured for stolen election claims
(DBN)

Ex-Trump aide Peter Navarro ordered to hand over emails from White House tenure
(DBN)

Tucker Carlson's airing of security footage spills into January 6 criminal court cases
(DBN)

A Startling Document Predicted Jan. 6. Democrats Are Missing Its Other Warnings.
(DBN)

Special Counsel Set to Ask Judge to Reject Trump's Privilege Claims in Mar-a-Lago Probe
(DBN)

Frustrated Republicans want to "move on" as far-right revives Jan. 6 Tucker Carlson’s January 6 lies throw Republicans into disarray
(DBN)

Trump Calls the Latest Special Counsel a 'Monster.' His Lawyer Used to Call Him a Friend
(DBN)


‘People are shocked and disgusted’: Fox News staffers say they are in the dark amid election lies scandal Fox News and Dominion spar in new legal filings
(DBN)

Fox News anchor Maria Bartiromo is front and center in Dominion's defamation suit
(DBN)

It's Your Constitutional Right To Be As Rude As You Want To Be
(DBN)

Alec Baldwin evidence stunner: New Mexico 'destroyed' gun used in 'Rust' shooting, lawyer reveals
(DBN)

No criminal charges for 6-year-old Virginia boy who shot teacher, but another ‘person or persons’ may face liability: Prosecutor
(DBN)

States don’t have to ‘stand idly by and watch the carnage,’ 11th Circuit says in upholding age restriction on gun sales
(DBN)

Jury awards family $8.25M for cops’ cuffing, detaining, searching them unjustifiably
(DBN)

Ambulance hijacker convicted of first-degree murder for running over veteran FDNY EMT and mother of 5, dragging body down the street
(DBN)

Woman uses Ancestry.com DNA test to identify mother's rapist and sues institution for covering it up
(DBN)

JPMorgan sues its ex-senior banker Jes Staley, claiming he ‘concealed his personal activities’ with Jeffrey Epstein
(DBN)

Barclays Stays Silent as JPMorgan Distances Itself From Epstein-Linked Staley
(DBN)

White supremacist propaganda hit record high in 2022
(DBN)

Ban on ‘rude’ public comments at town meetings violates state constitution, court rules
(DBN)

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Judges:

Supreme Court requests security funding increase following threats
(DBN)

Judge Kicks Breastfeeding Woman Out of Court for Being ‘a Distraction’
(DBN)

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Wall Street:

Dow futures fall following Thursday’s market selloff fueled by banks, U.S. jobs report looms
(DBN)

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Layoffs:

GM Offers Buyouts to Salaried Staff in $2 Billion Cost Cut Plan GM offers buyouts to most salaried employees, in a bleak warning for white-collar workers GM offers buyouts to ‘majority’ of U.S. salaried workers
(DBN)

Homebuilder Ballymore Cuts Dozens of Jobs Amid UK Housing Slump
(DBN)

GoTo to Cut 600 More Jobs as Southeast Asia Tech Firms Retrench
(DBN)

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Politics:

Appeals court showdown between Gov. Ron DeSantis and Democratic prosecutor he ousted will happen even sooner
(DBN)

Senator Markwayne Mullin ran a multimillion-dollar plumbing business and claimed he only took a $50,000 salary. His financial statements show otherwise.
(DBN)

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Religion:

Catholic group spent millions on app data that tracked gay priests
(DBN)

John Paul abuse claims trigger angry reactions in Poland
(DBN)

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Healthcare:

Biden’s budget goes all in on protecting Medicare. Just how much danger is it in?
(DBN)

Shortage of liquid asthma medicine albuterol to worsen after manufacturer’s bankruptcy
(DBN)

Long Covid May Be to Blame for Surge in Women With Disabilities
(DBN)

Biden's Medicare budget proposals may have some bite
(DBN)

Biden budget caps monthly insulin cost at $35 for people with private insurance
(DBN)

How to brazenly steal $100 billion from Medicare and Medicaid
(DBN)

29-year-old travel nurse makes $187,000 and works only 9 months a year
(DBN)

____________

Student Debt:

Biden wants to 'better support' student-loan borrowers who are returning to repayment. It's further confirmation the payment pause will end this year.
(DBN)

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Economy:

US Jobless Claims Jump to 211,000, Led by New York, California US Layoffs Jump to Mark the Worst Start to a Year Since 2009
(DBN)

As credit card debt hits new record, households near 'breaking point'
(DBN)

Fed's Flow of Funds: Household Net Worth Increased $2.9 Trillion in Q4
(DBN)

February Employment Preview
(DBN)

Hiring is so hard for a Montana builder that it's flying in construction workers on a private jet
(DBN)

How Team Biden sees the economy
(DBN)

Powell changed everything this week on market’s view of interest rates
(DBN)

The Fed is 'monomaniacal' about raising unemployment and is making a mistake with inflation, Wharton professor Jeremy Siegel says
(DBN)

Construction softness underscores Fed's tough call
(DBN)

Biden proposes $6.8 trillion budget to make rich pay "fair share" Biden proposes $3 trillion deficit cut, tax hike on the rich in new budget 15 budget asks that are actually Biden's reelection pitch Five takeaways from Biden’s $6.8 trillion budget Biden's 10-Year Budget Plan Highlights His 'Values' as He Eyes 2024 Campaign The real message of Biden’s budget
(DBN)

House Republicans Want Government Credit to Take Priority If Debt Limit Is Breached Paul Ryan Says to Expect a ‘Bumpy’ Ride to a Debt-Limit Deal
(DBN)

How ‘Excuseflation’ Is Keeping Prices — and Corporate Profits — High
(DBN)

There's a battle for people brewing — and Florida is schooling the competition
(DBN)

Biden wants to bring back sending monthly checks to parents and make the program permanent
(DBN)

Corporate Diversity Pledges Fizzle Amid Layoffs, GOP Backlash
(DBN)

EU to Propose Extending Cuts in Gas Demand Until Next Year US Sanctions Chinese Companies Supplying Iranian Maker of Drones Sold to Russia Russia Still Uses ‘Toxic’ Euro, Dollar to Sell Nearly Half of Exports EU Stalls in Search for Sanctioned Russian Billionaires’ Assets Europe Loses Another Smelter as Energy Crisis Leaves Deep Scars Germany May Have Identified Ship Involved in Nord Stream Bombing The European Union will expand its liquefied natural gas import capacity by nearly a third as it weans off Russian energy supplies
(DBN)

Elon Musk Is Planning a Texas Utopia—His Own Town
(WSJ)

I'm an Amazon employee who's worked remotely since 2021. Now that we're returning to the office soon, I worry I'll lose the productivity and work-life balance I perfected during the pandemic.
(DBN)

CEO says there's a false assumption that people like commuting into a business hub: 'They don't. It's a complete waste of time and money'
(DBN)

'We need to get Monday back' and get people in the office earlier in the week, says the CEO of the world's largest insurance marketplace
(DBN)

Jeremy Grantham Says Fed Has Been a ‘Horror Show’ Since Greenspan
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

"Home ATM" is Closing
(DBN)

Realtor.com Reports Weekly Active Inventory Up 61% YoY; New Listings Down 26% YoY
(DBN)

Oklahoma landlord allegedly set house ablaze over unpaid rent, killing tenant who rushed back inside to save her dogs
(DBN)

Judge orders Latitude Five25 owners to prove it has funds to repair towers or possibly lose bankruptcy claim 'I'm not paying rent for the rest of their lives,' Latitude 525 owner says about tenants
(DBN)

____________

Oil/Gas:

US Electric Cars Set Record With Almost 300-Mile Average Range
(DBN)

The White House Changes Its Tune on Big Oil
(DBN)

BP CEO’s Pay Doubled in 2022 to £10M After Record Profit
(DBN)

____________

Climate:

The Rockies Are Brimming With Snow. The Drought Will Persist Anyway
(DBN)

Our winters are warming faster than our summers
(DBN)

Biden’s budget would boost climate resilience funding by billions of dollars
(DBN)

Devastating Pacific Storm Threatens Flooding for California
(DBN)

____________

Intercreditor:

Aggrieved Lenders Struggle to Unwind ‘Creditor Violence’ Deals
(WSJ)

____________

Hedge Funds:

Hedge Fund Millennium Will Charge Fees Even When It Loses Money
(DBN)

____________

Mass Torts:

Alex Jones Has Pitched An Absurd Bankruptcy Plan That Of Course Should Get Laughed Right Out Of Court
(DBN)

____________

Banking:

BofA Redeploying Investment Bankers as Deal Drought Continues
(DBN)

Silicon Valley Bank shoots self in foot Silicon Valley Bank’s shares are tanking as a mess unfolds Silicon Valley Bank Faces Some Insolvency Issues SVB Financial: Today Wasn't A Run On The Bank; It Was A Sprint Silicon Valley Bank’s struggles spell further trouble for beleaguered tech startup market SVB Financial CEO Asks Silicon Valley Bank Clients to ‘Stay Calm’ as Shares Sink SVB Investors Spooked by ‘Painful Vortex’ of Little Information SVB Shares Slump Again as Clients Threaten to Pull Cash US Banking System Can Weather SVB Contagion Risk, El-Erian Says
(DBN)

Bank stocks plunge after implosions at Silicon Valley Bank and Silvergate Capital send 'shock waves' through the sector
(DBN)

____________

Movie Theaters:

U.S. Lost 2,000-Plus Movie Theater Screens Amid Pandemic
(DBN)

____________

Fraud:

Ex-Goldman Sachs banker will spend decade behind bars for $4 billion corruption and money laundering conspiracy in 1MDB case
(DBN)

New fraud charges filed against activist Monica Cannon-Grant and husband
(DBN)

____________

Retailing:

Bed Bath & Beyond: Hudson Bay Financing, Recent Equity Offering Won't Be Enough
(DBN)

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New Bankruptcy Opinions
(7 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 (2 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)

Estoppel:

A Potential Sword and/or Shield Worth Considering: The First Circuit's Recent Guide to the Application of Judicial Estoppel in Bankruptcy
(DBN)

____________

Miscellaneous:

The Directors' and Officers' Guide to Restructuring
(DBN)

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Aviation:

LATAM Airlines posts $2.5 billion profit after emerging from bankruptcy
(DBN)

Airlines Struggle to Find Engines as Travel Comes Roaring Back
(DBN)

Biden wants more money for the FAA after air travel disruptions
(DBN)

____________

Crypto:

More than $70 billion wiped off crypto market in 24 hours as bitcoin falls below $20,000
(DBN)

FTX’s Singh Bought His Dream House in October. It’s the Government’s Now FTX Proposes $4M Bonus Program as It Seeks to Retain Staff District judge rejects class action suit against FTX crypto exchange bankruptcy
(DBN)

Silvergate Bet Everything on Crypto, Then Watched It Evaporate Blame Silvergate's collapse on risky crypto, Elizabeth Warren says - but others slam 'arsonist and firefighter' crackdowns. 10 top experts on what pushed the bank to fail Why Financial Analysts Missed Silvergate’s Red Flags 4 Potential Winners of the Silvergate Unwind Silvergate Bank 'Had to Be Perfect' but Now Pays a Heavy Price: Strategist Morgan Stanley Sees More Regulatory Scrutiny of Crypto On-Ramps as Silvergate Falters Silvergate Collapse Dragging Down Bitcoin Volume Crypto stocks slide after Silvergate decides to shut down
(DBN)

Fed exec spells out crypto risks
(DBN)

Three Arrows Founders' Bankruptcy Exchange to Offer Claims as Portfolio Margin
(DBN)

Crypto investors could be about to lose a big tax loophole as part of Biden's new budget proposal
(DBN)

Crypto Traders Suffer Over $300M of Losses in Liquidations Amid Market Crash
(DBN)

Months after the Celsius bankruptcy, retail investors and whales are still stuck
(DBN)

Despite existing offer, bankrupt crypto lender Celsius Network pursues new buyer
(DBN)

U.S. DOJ Appeals New York Judge’s Decision to Approve Voyager’s Sale to Binance.US
(DBN)

Paul Krugman Is Having a Bitcoin Moment
(DBN)

Federal Reserve Setting Up New Squad of Crypto Specialists
(DBN)

U.S. Treasury Department Proposes 30% Excise Tax on Crypto Mining Firms
(DBN)

____________

Education:

Jaded with education, more Americans skipping college
(DBN)

____________

Corporate Reform:

House Republicans target the CFPB as the agency takes aim at ‘junk fees’
(DBN)

____________

Rail:

Norfolk Southern Criticized for ‘Lack of Transparency’ After Ohio Crash Norfolk Southern train derails in Alabama, third in several weeks Ohio senators blast Norfolk Southern over East Palestine train derailment
(DBN)

____________

Sovereigns:

Argentina Looks to Buy Time on $37 Billion of Maturing Debt
(DBN)

Sri Lanka to announce debt restructuring strategy in April – cenbank chief
(DBN)

____________

UK:

Ince's Senior Partner quits
(DBN)

Railsr, the UK embedded fintech once valued at nearly $1B, goes into bankruptcy protection under new consortium owner
(DBN)

BOE Official Warns Interest Rate Rises Add Risk of Market Shock
(DBN)

Private Lenders Targeted in Debt-Relief Proposal by UK Lawmakers
(DBN)

All travelers to the UK — including from the EU and U.S. — will need pre-authorization by 2025
(DBN)

UK Economy Bounces Back From Strikes Stronger Than Expected
(DBN)

____________

Russia:

Ukraine sees bloody battle for Bakhmut as chance to wipe out Wagner's army of convicts
(DBN)

Moscow fires barrage of hypersonic missiles, piercing Ukrainian air defenses
(DBN)

Russians Choose Argentina’s 100% Inflation Over Putin’s War
(DBN)

'This is inhumane': Poland, Slovakia ready to send fighter jets to Kyiv
(DBN)

____________

Mexico:

Mexicans Question Government’s Swift Response to Lethal Attack on Americans Apology letter found after US citizens killed in Mexico
(DBN)

Mexican president to US: Fentanyl is your problem
(DBN)

____________

France:

French Senate votes to raise retirement age from 62 to 64
(DBN)

____________

MENA:

Mass Protests Over Government’s Court Plans Sweep Israel Israel Tensions Soar as Protests Prompt Scaling Back of US Visit Why Israel’s new far-right government has triggered massive protests
(DBN)

____________

Germany:

Galeria threatens creditors with bankruptcy
(DBN)

____________

China:

China’s Consumer Spending Is Showing Signs of Strong Rebound
(DBN)

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