March 2, 2023

The Daily Bankruptcy News

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Law:

2022 Was A Good Year For Associate Compensation
(DBN)

Alex Murdaugh has admitted to dozens of financial crimes and faces over 700 years in prison for those concessions alone Jurors take their time at Moselle, see crime scene for themselves as Alex Murdaugh's double murder trial nears end Prosecution spends over 3 hours delivering closing statement in Alex Murdaugh double murder trial – Day 25 'Says it all': experts react to Buster Murdaugh's facepalm during father's testimony in double murder trial Alex Murdaugh cast as 'family annihilator' during prosecution's closing arguments Engagement vs entertainment: Murdaugh draws mass attention Legal experts say kennel video is key to Murdaugh trial What we know about the property where Alex Murdaugh's wife and son were killed Maggie Murdaugh was running to her son when she was shot, prosecutor says
(DBN)

Lawyer accused of pursuing client-poaching ‘modus operandi’ hit with $2.3M verdict
(DBN)

Dechert faces 3 UK trials, 2 US suits stemming from 1 former partner’s work
(DBN)

Law firms warn of tougher fee negotiations and payment delays
(DBN)

Legal AI Knows What It Doesn't Know Which Makes It Most Intelligent Artificial Intelligence Of All
(DBN)

The Best Law Schools For Nontraditional Students (2023)
(DBN)

DeSantis pushes for dismissal of lawsuit brought by migrants sent to Martha's Vineyard
(DBN)

Schumer, Jeffries ask Murdoch to stop Fox hosts lying about 2020 election
(DBN)

The FBI Desperately Wants to Let Trump Off the Hook WaPo Reveals FBI Terrified Of Pissing Off Trump By Treating Him Like Literally Anyone Else Who Stole Classified Docs
(DBN)

'Sedition Panda' allegedly hopped over barricades to breach Capitol on Jan. 6, now faces felony charges
(DBN)

Chris Christie Predicts Trump Will Be Indicted — And His Presidential Campaign Will Make Legal Peril Even Worse
(DBN)

How strong is Dominion's defamation case against Fox News? Legal experts weigh in
(DBN)

Trump Blames Fox News for ‘Aiding & Abetting the DESTRUCTION OF AMERICA’ in Raging Screed on ‘Rigged & Stollen’ Election
(DBN)

A Neo-Nazi Troll Network Is Making Money Abusing Jews
(DBN)

Ghislaine Maxwell's lawyers claim Jeffrey Epstein's 15-year-old Florida plea deal should undo her sex-trafficking conviction
(DBN)

Kyle Rittenhouse Asks Tucker Carlson Viewers for Money to Defend Himself
(DBN)

Merrick Garland Gets Yelled At By Ted Cruz, Defends The Justice Department Anyway Merrick Garland faces heated questions over abortion protesters criminal charges Takeaways from Merrick Garland's Senate Hearing
(DBN)

A Mississippi grand jury declined to press charges against sheriff's deputies who burst into a 28-year-old man's home and shot him to death. His mother says she's disappointed, but not surprised.
(DBN)

Vanessa Bryant accepts multi-million dollar settlement with Los Angeles County over pictures taken at fatal helicopter crash site
(DBN)

Ohio homicide detectives investigate two deaths as DNA helps identify skull and bones found decades ago
(DBN)

What the FBI found at the home of the University of Idaho murder suspect
(DBN)

Girls high school basketball team forfeits game because it refused to play against team with transgender player
(DBN)

NYC agrees to pay millions to hundreds of George Floyd protesters who were corralled by police
(DBN)

Man paralyzed by officer who mistook gun for Taser sues
(DBN)

Feds expand probe into migrant child labor in slaughterhouses
(DBN)

LAPD may no longer send armed officers to these police calls
(DBN)

Brothers convicted of beating a groom to death after crashing his wedding reception
(DBN)

Antisemitic ex-security guard who sniffed rifle and talked about 'dead Jews' gets 6 years in prison
(DBN)

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Judges:

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)

Chemerinsky: Student loan relief cases will have lasting effects whatever Supreme Court decides The Student Loan Forgiveness Cases Are Set To Answer Major Questions About Standing And Major Questions
(DBN)

Federal judge faces probe after he orders handcuffing of 13-year-old girl in gallery in ‘scared straight’ approach 'Look at me': Federal judge sparks outrage and investigation after ordering defendant's 13-year-old girl cuffed in court to make a point
(DBN)

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Wall Street:

S&P 500 futures fall Thursday as rates march higher
(DBN)

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Layoffs:

Laid-off Meta cafeteria workers ask for the same severance as the company’s employees
(DBN)

Marshfield Clinic Health System Announces 364 Layoffs
(DBN)

G1 sheds staff while Sorrento WARNs of cuts amid torrential downpour of industry layoffs
(DBN)

Alphabet’s Robotaxi Unit Waymo Says it Laid Off 8%
(DBN)

Thoughtworks lays off around 500 employees amid ongoing slowdown
(DBN)

Charleston-area digital services hub to cut 266 jobs
(DBN)

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Agribusiness:

USDA panel unveils recommendations to resolve discrimination in farming
(DBN)

Bill Gates: Why I'm Buying Farmland
(DBN)

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Autos:

Low-income households are falling behind on car bills
(DBN)

Vehicles Sales at 14.89 million SAAR in February
(DBN)

Tesla stock falls more than 5% after hours as Investor Day falls short on specifics
(DBN)

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Education:

College is still worth it, research finds — but students are growing skeptical
(DBN)

A white student is suing historically Black Howard University for racial discrimination after classmates called him 'mayo King'
(DBN)

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Healthcare:

Bankruptcy Court Approves Buyout of Borrego Health by Palm Springs’ DAP
(DBN)

Just 11 minutes of daily moderate-intensity exercise can lower disease risk: study
(DBN)

Lilly to Cut Some Insulin Prices by 70%
(DBN)

Medicare Advantage yielded strongest margins for insurers, study finds
(DBN)

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Student Debt:

Chief Justice Roberts has questions on student-loan cancellation: ‘How does that fit under the normal understanding of modify?’ John Roberts takes center stage in the battle over student loan forgiveness When it comes to student loan forgiveness, John Roberts borrows from GOP playbook
(DBN)

Sonia Sotomayor pushes back on conservative SCOTUS justices who questioned the fairness of Biden's student-loan forgiveness plan, saying the US is 'not a society of unlimited resources'
(DBN)

Supreme Court justices question ‘fairness’ in student debt relief arguments Ad: 0:01 0:15
(DBN)


Biden says he's 'not confident' his student-loan forgiveness plan will be upheld by the Supreme Court
(DBN)

The Supreme Court justices deciding whether to axe Biden's student loan relief program paid an average of $42,539 to go to college. Today, they'd have to pay around $320,531.
(DBN)

Legal fight over student debt a prelude to political battle
(DBN)

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Economy:

Survey: U.S. manufacturing activity continues to contract
(DBN)

ISM® Manufacturing index Increased to 47.7% in February
(DBN)

Biden industrial policy faces a core tension
(DBN)

QE Was a Giant Debt Swap. Now Governments Are on the Wrong End
(DBN)

CBO director informs House Republicans that the US debt situation is dire
(DBN)

Elizabeth Warren Wants Biden’s Next Fed Pick to Counter Powell’s ‘Extreme’ Rate Hikes
(DBN)

Consumer-Goods Makers Find They Can’t Raise Prices Much More
(DBN)

David Einhorn says investors should be ‘bearish on stocks and bullish on inflation’
(DBN)

The Great Boomer Bottleneck
(DBN)

Emergency Food Stamp Program Ends
(DBN)

Biden aims billions in taxpayer money at companies' labor, supply practices
(DBN)

There are whispers on Capitol Hill of a rare bipartisan effort to overhaul Social Security as the program is set to go broke in less than 10 years
(DBN)

Japan’s plight highlights global issue of falling birthrates
(DBN)

48 hours after he was crowned the world's richest person, Elon Musk loses top spot — again
(DBN)

Leave Russia? A Year Later Many Companies Can’t, or Won’t. Billionaire Deripaska Warns Russia May Run Out of Money in 2024
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Michigan real estate investor pleads guilty to $3M bankruptcy fraud scheme
(DBN)

Mortgage demand from homebuyers drops to a 28-year low
(DBN)

Freddie Mac House Price Index Declines for 7th Consecutive Month in January
(DBN)

Construction Spending Decreased 0.1% in January
(DBN)

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Municipalities:

PREPA plan of adjustment isn't 'patently' illegal, judge says
(DBN)

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Oil/Gas:

USPS to purchase 9,000 electric vehicles, install 14,000 charging stations
(DBN)

Gas is cheaper this year — but that has drawbacks for electric cars
(DBN)

40% of US Electricity Now Carbon Free
(DBN)

Musk’s ‘Master Plan’ for Tesla Built Around Sustainable Energy World
(DBN)

EU Seeks to Salvage Combustion-Engine Ban After Germany Balks
(DBN)

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Rail:

Vance pitches PPP for Ohio while other Republicans say to wait East Palestine's record of devastating derailments
(DBN)

FL: Train with Liquid Propane Derails
(DBN)

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Tech:

Artificial intelligence is on the brink of an 'iPhone moment' and can boost the world economy by $15.7 trillion in 7 years, Bank of America says
(DBN)

TikTok’s potential ban in U.S. could be boon for Meta and Snap New TikTok ban bill passes key House committee over Democrats’ objections
(DBN)

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Pharma:

Under pressure, Eli Lilly cuts insulin prices
(DBN)

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Politics:

Trump leads DeSantis in GOP primary matchup for first time in three months
(DBN)

DeSantis Claims He Will Control Disney's Content
(DBN)

Biden runs into the Supreme Court buzz saw
(DBN)

Fact check: False claim that Hunter Biden paid Joe Biden $50,000 in rent for Delaware home
(DBN)

Key Georgia election official rips Greene ‘conspiracies’ after tense meeting
(DBN)

Top Democrats pressure Murdoch, Fox News over false election fraud claims
(DBN)

Poll: 68% of voters say Biden is 'too old for another term' — and more Democrats agree than disagree
(DBN)

Ted Cruz shouts over Merrick Garland about the DOJ's response to protests outside Supreme Court justices' homes
(DBN)

Now That Tucker Carlson Has Jan. 6 Footage, Majorie Taylor Greene Is Changing Her Tune Marjorie Taylor Greene was one of 2 House Republicans to vote against mourning the 50,000 people killed in the Turkey-Syria earthquakes
(DBN)

FL State Senator Trolls With Bill To Outlaw Democrats
(DBN)

Video appears to show Texas drag bill author dressed in drag Tenn. governor vows to sign anti-drag bill as photo surfaces
(DBN)

Former Atlanta fire chief suggests slavery was part of God’s plan for America
(DBN)

Fox News election fraud revelations could take down the network’s embattled chief
(DBN)

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Retailing:

Bed Bath & Beyond dives 50% in February – it's second-worst monthly performance ever – as the meme stock teeters on the edge of bankruptcy
(DBN)

Best Buy disappoints with sales outlook as consumers retreat
(DBN)

Four major retailers that filed for bankruptcy already this year during ‘retail ice age’
(DBN)

Macy’s shares surge after holiday-quarter profit tops expectations
(DBN)

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Sports:

MLB makes hires, contingency plans in response to Bally Sports’ financial troubles
(DBN)

MLB sets up local media group, could broadcast 17 teams
(DBN)

AT&T Sports Southwest's Money Problem
(DBN)

Forget the new rules — the biggest story in baseball right now is the collapse of the regional sports networks
(DBN)

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Banking:

Bank accused of concentrating branches in white neighborhoods will settle discrimination allegations for $9 million: Justice Department
(DBN)

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Cannabis:

A Possible, But Narrow, Path for Cannabis in Bankruptcy Court
(DBN)

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Corporate Governance:

Higher-Rated Companies Have More Women at the Top, Says Moody’s
(DBN)

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New Bankruptcy Opinions
(3 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (12 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:

Bankruptcy Rate of US-based Firms Hit Highest Levels Since 2010
(DBN)

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Mass Torts:

3M subsidiary claims many military plaintiffs in earplug case did not suffer hearing loss
(DBN)

How Mass Tort Litigation Is Gaming the Judicial System
(DBN)

Slew of child sexual abuse lawsuits could bankrupt the Diocese of Sacramento, bishop says
(DBN)

Albuquerque priest cleared in 2019 church abuse case
(DBN)

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Aviation:

Delta pilots approve new contract with 34% raises
(DBN)

The FAA is investigating more alarming airplane near-disasters
(DBN)

7 people taken to hospital after flight diverts to Virginia following 'significant turbulence'
(DBN)

Man, 40, is in FBI custody after TSA found an explosive device hidden in the lining of his checked bag as it was being loaded onto an Allegiant flight from Pennsylvania to Florida
(DBN)

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Fraud:

Fraud cost consumers $8.8 billion last year, FTC says. That’s up 44% from 2021
(DBN)

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Personal Finance:

I’ve helped people land 6-figure salaries—these 5 job interview phrases got them hired ‘on the spot’
(DBN)

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Crypto:

Mining for Equity Value
(DBN)

Silvergate slumps after delaying annual report, warning about viability San Diego Crypto Bank Silvergate Capital Warns of Viability as ‘Going Concern’ Silvergate Stock Plunges as Bank Says It May Face DOJ, Congressional and Bank Regulator Inquiries Silvergate’s Big Crypto Losses Feed Watchdogs’ Worst Fears
(DBN)

FTX might not have been the only crypto exchange using customer money for other things
(DBN)

US SEC Plans to Keep Growing Crypto Unit as Enforcement Ramps Up
(DBN)

32,000 Voyager customers may be on the hook for bankruptcy clawbacks
(DBN)

FTX Collapse: Bankman-Fried Receives Very Bad News Prosecutors’ Case Against FTX’s Sam Bankman-Fried Becomes Clearer Bankman-Fried Fights to Use Tech as US Expands Criminal Fraud Case Bankman-Fried Proposes Tech Consultants to Advise on Bail Terms
(DBN)

Core Scientific Bankruptcy Approves $70M Financing Deal From B. Riley
(DBN)

Binance Can’t Keep Its Story Straight on Misplaced $1.8B USDC
(DBN)

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Sovereigns:

To Stop a New Round of Emerging-Market Debt Defaults, Send in the Volunteers
(DBN)

Ghana Eurobonds Sink as Debt Restructuring Hits New Hurdles
(DBN)

China urges global lenders' involvement in developing nations' debt China Blames US’s ‘Radical Fiscal Policy’ for EM Debt Troubles
(DBN)

Markets Brace for Pakistan Default Risk as $7 Billion Debt Looms Pakistan Raises Key Rate to 25-Year High as Crisis Deepens
(DBN)

Pakistan, Sri Lanka to Decide on Key Rates as IMF Bailouts Hang
(DBN)

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UK:

Croydon fails to sign off budget after huge council tax protest
(DBN)

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EU:

Euro zone inflation softens to 8.5% in February as ECB signals interest rate hiking is not over
(DBN)

Euro-Zone Inflation Barely Slows as Core Gauge Hits Record
(DBN)

Lagarde Says ECB Rate Hikes May Need to Continue Beyond March
(DBN)

Fitch Sees Recession Coming in Germany, Italy Later This Year
(DBN)

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Canada:

Buyer chosen for insolvent St. Lawrence mine, but creditors warned to expect 'substantial loss'
(DBN)

Insolvency filings in Canada in January up 33.7% compared with a year earlier Insolvency Filings Surged In January Amid Higher Interest Rates, Inflation
(DBN)

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Russia:

Ukraine denies sending attack drones into Russia territories
(DBN)

Russia says Ukrainian saboteurs launch cross-border attack
(DBN)

A Ukrainian drone operator being followed by a film crew feared his life could end at 'any moment.' He was killed the day before the documentary aired.
(DBN)

Russia has just one tank factory churning out 20 tanks a month, with demand outstripping production by a factor of ten, says report
(DBN)

Finland has started building a 124-mile fence on its border with Russia. It's going to be covered in barbed wire and span 'riskier areas' between the countries, Finland says.
(DBN)

Ukrainian soldiers say they caught a Russian medic forced to operate a tank, highlighting the dysfunction in Putin's army
(DBN)

Russia and Ukraine have a lot of the same tanks and jets, but Kyiv has a decisive 'flesh and bone' advantage, top US enlisted leader says
(DBN)

Ukraine official: Forces may pull out of key city of Bakhmut
(DBN)

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MENA:

McConnell says U.S. shouldn't weigh in on Bibi's judicial overhaul plan Israeli police violently crack down on protest over judicial overhaul Netanyahu denounces protesters after salon siege of his wife
(DBN)

Senior Israeli minister calls for Israel to "wipe out" Palestinian town U.S. says Israeli minister's call to wipe out Palestinian town is "disgusting"
(DBN)

US Set Up the Afghan Army to Fail
(DBN)

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China:

Tips for insolvency administration of NEEQ-listed companies
(DBN)

US Seeks Allies' Backing Over More China Sanctions
(DBN)

Biden admin grilled over $23 billion in licenses for blacklisted Chinese firms
(DBN)

China Loses More Than 40 Million Workers as Population Ages
(DBN)

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Germany:

How the Biggest Fraud in German History Unravelled
(DBN)

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Japan:

Norton Rose Fulbright expands restructuring capabilities in Japan
(DBN)

Japan just found 7,000 islands it didn't know it had
(DBN)

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Brazil:

Brazil's Oi files for second bankruptcy protection process
(DBN)

Americanas Fallout Fuels Painful Rout in Brazil Corporate Debt
(DBN)

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