March 17, 2023

The Daily Bankruptcy News

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Law:

What Goes Up, Must Come Down -- And Sometimes, That Includes Biglaw Profits
(DBN)

Judges Are Encouraging Law Schools To Snitch On Students Who Make Use Of Their First Amendment Right To Protest
(DBN)

Lowenstein Sandler lays off 16 staff members, citing changing needs and shifting market • Lowenstein Sandler Lays Off 16 Business Staffers in Latest Cuts • Biglaw Firm Conducts Layoffs, Citing 'Shifting Market Dynamics'
(DBN)

The Biglaw Firm Where Associates Say They Have The Worst Work-Life Balance
(DBN)

Let's Rank The Best Law Schools Since They Don't Want U.S. News To Do It
(DBN)

How can law schools with history of bar pass issues get their rates above 75%?
(DBN)

The Most Diverse Law Schools (2022)
(DBN)

Protecting Client Trust Accounts When Banks Collapse
(DBN)

Data on about 6,500 law students proves my mismatch theory, shows racial-preference harm, law prof says
(DBN)

‘We failed.’ State bar apologizes for not acting sooner against now disbarred LA lawyer
(DBN)

Latest version of ChatGPT aces bar exam with score nearing 90th percentile
(DBN)

Here's how a Trump indictment would play out: Yes, he'll be fingerprinted. No, he probably won't be handcuffed.
(DBN)

Boris Epshteyn Is A Lawyer. And He Does Work For Trump. But Does That Make Him Trump's Lawyer?
(DBN)

New York to Trump: No more delay in civil fraud case
(DBN)

Trump rages as his former 'sleazebag disbarred lawyer' spills the beans to grand jury
(DBN)

GA Grand Jurors: Lordy, There Were MORE Tapes
(DBN)

New Jan. 6 footage shows Grassley just feet away from rioters, Chansley • FBI: Newspaper editor interfered with police at Capitol riot
(DBN)

Yet Another Trump Lawyer Earns Dubious Honor Of Motion To Breach Privilege Under Crime-Fraud Exception
(DBN)

Trump’s Self-Proclaimed ‘Standing Order’ Remains a Mystery as US Stays Silent
(DBN)

Grand jury heard phone call of Trump pressuring Georgia speaker to overturn Biden's victory
(DBN)

Former editor of Jewish newspaper charged for Jan. 6 actions
(DBN)

Top India Lawyer Sees More Fees, Deals From Foreign Firms’ Entry
(DBN)

Kentucky lawmakers pass bill to make state a Second Amendment sanctuary
(DBN)

Grand Theft TikTok
(DBN)

Soldier gave neo-Nazis and jihadists sensitive data ‘to spark race war’
(DBN)

Is Fox News Really Doomed? • 21% of Fox News Viewers Trust Network Less After Texts Revealed in Dominion Lawsuit
(DBN)

Black, Latino members of Chicago City Council split on migrants
(DBN)

Colorado man faces hate crime charges after drawing a swastika on New York's Charging Bull statue, prosecutors say
(DBN)

Here's what to know about Gwyneth Paltrow's upcoming trial
(DBN)

JPMorgan CEO Jamie Dimon knew about Jeffrey Epstein's sex trafficking, Virgin Islands tells judge
(DBN)

New Mexico poised to strengthen state Human Rights Act
(DBN)

Stanford University employee made false rape claim because she was angry at co-worker: Prosecutor
(DBN)

Roommate killed over $10 during birthday party, body found upside down in trash bin: Police
(DBN)

Family of missing Black man found dead believe he was lynched and dismembered, call on DOJ to investigate
(DBN)

New Hampshire man arrested after allegedly being caught on video placing multiple pipe bombs under neighbor's porch
(DBN)

NYC’s Fairway supermarket using facial recognition to bust thieves
(DBN)

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Judges:

How a Right-wing Law Firm Shaped the Judge Who Will Rule on the Abortion Pill • Judge appears sympathetic to abortion pill challenge in consequential Texas hearing • Can court ban abortion pill? Federal judge considers authority, plaintiffs’ standing • How recent lawsuits could affect access to abortion pills • Abortion pill foes' lawyer concedes blocking FDA-approved drug years later would be unprecedented: Reports
(DBN)

Wave of Federal Judges Ditch Bench for Lucrative Big Law Jobs
(DBN)

Federal Judge Blocks "Stop Woke Act and CRT Ban
(DBN)

Supreme Court gets the scoop on doggy toy, whiskey parody case
(DBN)

Judicial Conference asks Congress for 75 new, converted federal judgeships—2 of them at appellate level
(DBN)

Judges Want ‘Disruptive’ Law Students Flagged to Employers
(DBN)

Conservative judges who endorsed Yale boycott say disruptive Stanford students should be punished
(DBN)

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Wall Street:

Dow futures fall, First Republic leads regional banks lower
(DBN)

$25trn wiped off global stock markets in 2022
(DBN)

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Layoffs:

We're about to find out whether AI might replace those 200,000 laid-off tech workers as Silicon Valley prioritizes efficiency
(DBN)

I was just laid off from Meta. We knew more cuts were coming from the news before Mark Zuckerberg even told us, and the way the layoffs were ultimately handled was very cold.
(DBN)

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Environmental:

A Louisiana plant is spewing a toxic chemical into the air and residents want to know: Why is it still operating?
(DBN)

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Sports:

Women's World Cup prize money still one-third of men's after 300% increase
(DBN)

Broadcaster says MLB streaming dispute pushed it toward bankruptcy • MLB Tells Bankrupt Broadcaster to Pay Up, or Fight in Court
(DBN)

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Art:

Art Auction Business Is Being Dominated by $1 Million-Plus Sales
(DBN)

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Crypto:

Regulators tell prospective bidders for Signature Bank that they need to drop the firm's crypto business, report says
(DBN)

Network of YouTube financial influencers hit with class action suit for pumping up FTX • A Cherry Hill man who befriended Sam Bankman-Fried as a teen at math camp is central to the feds’ investigation of FTX
(DBN)

Judge Denies Government Bid to Delay Binance.US Purchase of Voyager Assets
(DBN)

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Cannabis:

State's first cannabis receivership, selloff shows lack of options for struggling businesses
(DBN)

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Hotels:

Hotels: Occupancy Rate Down 7.5% Compared to Same Week in 2019
(DBN)

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Food/Beverage:

A Struggling Popeyes Franchisee In the South Just Declared Bankruptcy • Founder's untimely death leaves a Popeyes franchisee in bankruptcy
(DBN)

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Climate:

Nearly two-thirds of California is now drought-free
(DBN)

Drought over? Spring outlook finds relief -- and flood risk
(DBN)

EU Poised to Stake Claim in Clean-Tech Race, Pushing Back at US
(DBN)

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Movie Theaters:

National CineMedia to cede control to lenders, prepping for bankruptcy
(DBN)

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Economy:

US Jobless Claims Drop by Most Since July, Led by New York • Weekly Initial Unemployment Claims decrease to 192,000
(DBN)

Fed Expected to Hike Rates a Quarter Point Next Week in Economist Survey
(DBN)

Hard Landing in Store for US Economy
(DBN)

Summers Gives Lagarde an A+, Urges Fed Rate Increase Next Week
(DBN)

Top House Republican Urges Congress to Avoid Debt-Limit Drama, SVB Blame Game
(DBN)

Wharton Professor Jeremy Siegel says the SVB collapse could be a good thing - if it 'knocks some reality' into the Fed to pause rate hikes
(DBN)

A Fast and Furious Year by the Fed That Blindsided Everyone
(DBN)

A Year After Fed Began Hiking, Stock Traders Still Stumped Over Next Step
(DBN)

How the banking crisis changes the economic outlook
(DBN)

Goldman boosts US recession odds after slashing GDP forecast
(DBN)

Yellen Seeks to Reassure Congress on Banks Amid Oversight Angst
(DBN)

CEO: Bosses who force RTO have ‘control issues’
(DBN)

In New York City, a $100,000 Salary Feels Like $36,000
(DBN)

Sen. Cassidy to Yellen at SS hearing: ‘That’s a lie’
(DBN)

Republicans seek to flip the script on Social Security
(DBN)

Richest People in the World: 2023 Edition
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

US Housing Starts Exceed Forecast on Multifamily Construction
(DBN)

February Housing Starts: Average Length of Time from Start to Completion increased Sharply in 2022
(DBN)

Realtor.com Reports Weekly Active Inventory Up 61% YoY; New Listings Down 16% YoY
(DBN)

Home construction unexpectedly surged in February as slump in lumber prices offset pain of rising mortgage rates
(DBN)

Over 5 million households are behind on rent
(DBN)

Orange County real estate investor asks bankruptcy court to compel $1.5M sale
(DBN)

The long-anticipated office reckoning is upon us
(DBN)

Here are the top 10 cities where your money goes further
(DBN)

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Oil/Gas:

Volkswagen Plans $193 Billion Commitment to Electric Vehicles
(DBN)

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Agribusiness:

Gap in data complicates legislation to keep China off US farms
(DBN)

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Retailing:

Retailers see a tough year ahead, so they’re rolling out the recession playbook
(DBN)

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Satellites:

Virgin Orbit Furloughs Staff, Halts Operations While It Seeks Funding
(DBN)

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Tech:

Humanoid robots are coming
(DBN)

TikTok to Be Banned on UK Government Phones Over Security Fears • Why TikTok’s security risks keep raising fears
(DBN)

The rise of AI automation in the workplace is bad news for the 'brilliant jerks' of tech
(DBN)

In Silicon Valley, boom era feels like it's ending
(DBN)

Why leading researchers fear AI will wreak even more havoc than social media
(DBN)

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Religion:

Pew: Jews most favorably viewed religious group
(DBN)

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Student Debt:

Some student-loan companies are 'ignoring' court orders and continuing to collect borrowers' debt after they received relief through bankruptcy, a federal consumer watchdog finds • Bulletin 2023-01: Unfair Billing and Collection Practices After Bankruptcy Discharges of Certain Student Loan Debts
(DBN)

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Education:

More Students Turn Away From College, Toward Apprenticeships
(DBN)

Taxpayer-funded vouchers in Florida go mostly to religious schools. ‘Pay for it yourself,’ rabbi says
(DBN)

Florida Scoured Math Textbooks for ‘Prohibited Topics.’ Next Up: Social Studies.
(DBN)

Report: Florida textbook altered Rosa Parks story to remove references to race
(DBN)

Florida Bill to Censor Professors Just Got Worse
(DBN)

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Politics:

Much of 2024 GOP field focuses on dark, apocalyptic themes
(DBN)

Ron DeSantis has a Florida problem
(DBN)

'Like a starving animal': Reports about DeSantis' odd social habits emerge ahead of primary race
(DBN)

Inside the Trump world-organized retreat to plot out Biden oversight • Trump blends new policies with old grievances in his 2024 campaign
(DBN)

On Trump Force One, KFC Is On The Menu and 45 Is Still President
(DBN)

House G.O.P. Hunts for Evidence That Biden Family Deals Were Improper
(DBN)

Mike Pence implies that Trump is a fake Christian during speech to room full of journalists
(DBN)

Lindsey Graham admits under oath that Trump’s outlandish election conspiracies were farfetched
(DBN)

Another House Republican Has Been Accused of Stealing GoFundMe Money
(DBN)

Two Americas Index: 20% favor a "national divorce"
(DBN)

Two Americas Index: Ukraine divides conservatives
(DBN)

Federal appeals court blocks enforcement of Florida 'Stop W.O.K.E. Act'
(DBN)

George Santos refuses to quit Congress, brazenly says ‘truth still matters’
(DBN)

Arkansas Governor Signs Law Targeting Doctors Who Provide Gender-Affirming Care
(DBN)

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Rail:

Norfolk Southern once had the lowest accident rate of major U.S. rail companies. Now it's above average • Plaintiffs firms vie for lead roles in Ohio derailment lawsuits
(DBN)

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Fraud:

Ex-fugitive in fraud scheme tied to $100M NJ deli willing to pay millions for bail
(DBN)

The outlandish life of Guo Wengui, once one of China’s richest men and Steve Bannon confidant whom the DOJ accuses of a billion-dollar fraud
(DBN)

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Healthcare:

US maternal mortality rate rose sharply in 2021: report
(DBN)

After a wave of teen fentanyl overdoses, a Texas community grapples with shock and anger
(DBN)

Inside the Private Group Where Parents Give Ivermectin to Kids With Autism
(DBN)

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New Bankruptcy Opinions
(5 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 (6 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)

Bankruptcy Statistics:

US corporate bankruptcy filings heavily favor reorganization in 2023
(DBN)

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Mass Torts:

Facing Hundreds of Sex Abuse Lawsuits, Albany Diocese to Declare Bankruptcy
(DBN)

Another New York diocese files for bankruptcy amid wave of lawsuits • Albany Diocese files for bankruptcy as hundreds of sex abuse suits pile up • What Albany Roman Catholic diocese's bankruptcy case might look like • Attorney for alleged abuse victim reacts to bankruptcy filing
(DBN)

Oakland Diocese Considers Filling for Bankruptcy
(DBN)

US Sues Rite Aid For Ignoring Glaring ‘Red Flags’ In Opioid Prescriptions
(DBN)

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Bankruptcy Crimes:

Contractor sentenced over false statements in bankruptcy case
(DBN)

____________

Aviation:

Near misses, fires, severe turbulence: What happened to flying?
(DBN)

Spring Break Scrapped for Canadian Travelers as Jets Get Seized
(DBN)

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Banking:

JPMorgan Says Fed’s Loans Will Provide $2 Trillion of Liquidity
(DBN)

Will Americans End Up Footing the Bill for Bank Failures?
(DBN)

Elizabeth Warren Slams Powell for Weak Regulation, Oversight of SVB
(DBN)

Goldman Sachs May Be Getting a $100 Million Payout Over the Silicon Valley Bank Collapse
(DBN)

Banks Borrow $164.8 Billion From Fed in Rush to Backstop Liquidity
(DBN)

Executives Yank Money From Banks as Some Deposits Look Riskier
(DBN)

First Republic falls 30% as regional bank stocks continue to sink • First Republic Sinks as Bank Said to Explore Strategic Options • Financial firms in talks to deposit in $20 billion in First Republic: sources • First Republic Bank erases plunge and soars 28% on report of deal talks with larger banks • First Republic rescue calms markets, but worst not over yet • First Republic Goes From Wall Street Raider to Seller in Days • US Pushes First Republic Rescue With Big Banks After Stock Slump • First Republic gets $30 billion in deposits from 11 major U.S. banks, but stock resumes slide as it suspends dividend
(DBN)

Why Did Regulators Close Signature Bank? It's Not Entirely Clear
(DBN)

You Should Be Outraged About Silicon Valley Bank • SVB ex-CEO backed Big Tech lobbying group that targeted Dodd Frank • FactCheck: Woke’ policies caused bank’s demise • Shards of Silicon Valley Bank Are for Sale, but No One Is Buying Yet • Fully reimbursing SVB depositors may prove to be a bad move • The uncommon lending practices behind Silicon Valley Bank’s woes • How Silicon Valley Bank Made a Business Out of Making VCs Happy • Peter Thiel said he had $50 million in a personal account at Silicon Valley Bank when it collapsed, despite telling his portfolio companies to pull their money • Cathie Wood blames the Fed for driving SVB and Signature Bank to collapse • Silicon Valley Bank acted like a hedge fund, and 'they deserve what they got,' bank analyst says • SVB's collapse highlights tech's PR problem • Ohio teachers retirement fund takes massive hit in Silicon Valley Bank collapse • SVB Collapse Turns Bankers’ Island Retreat Into Lobbying Blitz • SVB Hunts for a Buyer After Tense, Dragged-Out FDIC Sale Failed • Some VC firms have started moving money back into Silicon Valley Bank, marking the latest turn in the bank's wild week • SVB Collapse May be the Start of Something Bad • SVB employees blame remote work for bank failure • Silicon Valley Bank failure adds to California's economic uncertainties • Regulatory Failure 101: What the Collapse of Silicon Valley Bank Reveals
(DBN)

Credit Suisse's $54 billion lifeline gives global banks tentative respite • Credit Suisse Surges 40% on Lifeline, Fueling Bank-Stock Rally • JPMorgan Analysts See Credit Suisse Takeover as Likely Scenario • Credit Suisse Bonds Sink Deeper Into Distress as Hopes Fade • Credit Suisse Default Swaps Drop After Central Bank’s Liquidity Pledge • Credit Suisse is sued by US shareholders over finances, controls • Credit Suisse Woes Are a ‘Distinct Situation,’ Biden Administration Says • Years of Turbulence at Credit Suisse
(DBN)

Yellen Seeks to Reassure Congress on Banks Amid Oversight Angst
(DBN)

How credit ratings are playing a key role in the unfolding banking crisis
(DBN)

Bank runs used to be slow. Now they unfold at the speed of tweets.
(DBN)

The global banking system is on edge
(DBN)

Ex-Wells Fargo exec who pushed bankers to open fake accounts will plead guilty. She'll pay a $17 million fine — and faces more than a year in prison.
(DBN)

The FDIC's long game
(DBN)

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Sovereigns:

StanChart Sees Opportunity for Sri Lanka Investors as IMF Deal Nears • Lack of independence at Central Bank led to Sri Lanka's bankruptcy: Governor Weerasinghe
(DBN)

Low on food, high on nukes: Why is bankrupt Pakistan focused on its nuclear programme amid worst crisis?
(DBN)

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UK:

Call of duty – Supreme Court confirms company directors’ duty to consider the interests of creditors when nearing insolvency
(DBN)

Plymouth faces wave of companies going bust in 2023 says insolvency expert
(DBN)

UK Payment Firms Lack Controls and Pose Unacceptable Risk, FCA Says
(DBN)

Former Goldman Economist Blames UK Fiscal Rules for Weak Growth
(DBN)

UK’s Jeremy Hunt Hopeful of Imminent Pay Deal to End Strikes by Nurses, Ambulance Workers
(DBN)

John Lewis Cancels Employee Bonus as Losses Mount
(DBN)

UK NHS Agrees to 5% Pay Rise Offer for Nurses, Ambulance Staff
(DBN)

____________

EU:

European Central Bank hikes rates despite market mayhem, pledges support if needed • ECB Delivers Half-Point Hike But Gives No Signs on Next Move
(DBN)

ECB’s Guindos Told Ministers Some EU Banks May Be Vulnerable
(DBN)

____________

France:

Macron shuns parliament to enact French retirement bill • Macron on the brink: How France's pensions revolt could wreck his presidency • Macron Faces Dilemma as He Seeks to Cement Reformist Legacy • Pictures show Parisians living in filth while thousands of tons of trash pile up around the city • Anger spreads in France over Macron’s retirement bill push
(DBN)

____________

Russia:

Poland to Send MiG-29s to Ukraine • Poland to be 1st NATO member to give Ukraine fighter jets • Slovakia agrees to give Ukraine fleet of Soviet warplanes
(DBN)

Fighter jets are 'worthless' over Ukraine, and it's a sign of what US pilots and troops may face in future battles
(DBN)

Senators temper outrage over Russian jet provocations to avoid escalation
(DBN)

China’s Xi to visit Moscow in show of support for Putin
(DBN)

Chinese companies are shipping rifles, body armor to Russia
(DBN)

Senate Republicans distance themselves from DeSantis’s Ukraine stance
(DBN)

What to know about UN report outlining Russian war crimes
(DBN)

____________

Germany:

Germany Can’t Rule Out Recession But Data Signals Are Looking Up
(DBN)

____________

MENA:

Israeli president warns of civil war as Netanyahu rejects judicial compromise • Israel in Crisis: Democracy on the Brink
(DBN)

Senate to begin debate on repealing Iraq War and Gulf War authorizations
(DBN)

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