May 11, 2023

The Daily Bankruptcy News

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3-Column Formating

 

Law:

55 lawyers among 5% of global workforce being laid off at this BigLaw firm
(DBN)

$200K is median base pay for new associates, thanks to market pressure from talent wars, NALP says The Biglaw Salary Wars Increased First-Year Associate Salaries Across The Legal Profession
(DBN)

Definitive List Of Biglaw's Major Markets
(DBN)

Sam Bankman-Fried Wastes No Time Bashing Biglaw Firm Sullivan & Cromwell In Latest Filing
(DBN)

Proskauer Goes Even Harder After Former Firm Executive With Amended Complaint
(DBN)

Will AI Soon Be Capable Of Arguing Matters In Court?
(DBN)

BigLaw is losing its appeal, new survey of Gen Z lawyers and law students says Gen-Z Lawyers Could Not Care Less About Working In Biglaw
(DBN)

Law firms see ‘bifurcated recovery’ with strengths and challenges varying by firm size
(DBN)

The LSAT Will Probably Take The L Soon. What Now?
(DBN)

Judge sanctions lawyer for ‘obnoxious’ and ‘appalling’ deposition conduct
(DBN)

This Kanye West, Marjorie Taylor Greene, Milo Yiannopoulos Story Is The Best Crim Law Issue-Spotter Ever
(DBN)

Following methodology changes for US News rankings, 7 law schools reach top 100
(DBN)

The public defender approach to personal life
(DBN)

E. Jean Carroll’s lawyer: Trump has ‘no legitimate arguments’ for appeal 'He did it and you know it': E. Jean Carroll says she confronted Trump's lawyer after verdict Explainer-What's Next for Trump After Civil Rape Verdict? After $5M Carroll Verdict, Trump Melts Down On Social Media Inside Trump’s Truth Social meltdown: Former president’s spin on E. Jean Carroll sex-abuse verdict Christie slams Trump’s ‘ridiculous’ response to E. Jean Carroll verdict
(DBN)

Disinformation researcher who led now-defunct DHS unit sues Fox News for defamation
(DBN)

Trump says he would pardon a 'large portion' of Jan. 6 rioters
(DBN)

Texas mass shooter was Latino white supremacist who vowed to ‘fight hate with more hate’
(DBN)

4 teens charged with murder of beloved officer
(DBN)

SCOTUS Could Overturn Gun Safety Laws In All 50 States
(DBN)

Army sergeant promised pardon by Texas Gov. Abbott gets 25 years in protester’s murder
(DBN)

Scenes from the border: Chaos, desperation Why people are freaking out about Title 42 ending Hochul issues emergency order for migrant crisis Open-Armed Chicago Feels the Strains of a Migrant Influx US unveils rule that rights groups say stifles access to asylum Biden admin to allow for the release of some migrants into the U.S. with no way to track them New York Leaders Spar Over Adams’s Plan to Move Migrants From the City US to limit asylum at Mexico border, open 100 migration hubs 'Outsourcing' border enforcement: Biden's migration policies rely on Mexico despite its grim record Confusion reigns at US-Mexico border hours before rule change Texas uses aggressive tactics to arrest migrants as Title 42 ends - WSJ
(DBN)

Timeline of mass shootings during Abbott's tenure
(DBN)

VT: GOP Gov. Signs Abortion Pill Protections
(DBN)

Dimon pressed on reports that JPMorgan ignored Epstein’s sex trafficking JPMorgan Executives Sued Over Harm Caused by Ties to Epstein Appeals court ruling could pave way for release of Epstein grand jury records
(DBN)

Tesla driver kills grandmother and dog after blowing through stop sign at 116 mph into her home
(DBN)

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Judges:

BK MD AL: May 2023 Newsletter
(DBN)

BK MN: Judicial Law Clerk Opening to U.S. Bankruptcy Judge William J. Fisher
(DBN)

Lawyers Walk Ethical Tightrope With Gifts, Hospitality to Judges
(DBN)

Clarence Thomas: A Bundle of Contradictions
(DBN)

Look Out Federalist Society... Someone Else Is Trying To Gift More Free Trips To Federal Judges
(DBN)

Judge in Nikolas Cruz case, Elizabeth Scherer resigns
(DBN)

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Wall Street:

Dow futures dip as Disney falls, more U.S. inflation data ahead
(DBN)

US stocks rise after CPI shows inflation rose at slowest pace in 2 years in April
(DBN)

UAE’s Royal Group Shorts US Stocks on Global Recession Fears
(DBN)

Alarm Bells as Buffett Dumps $13Bn in Stocks
(DBN)

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Layoffs:

EQRx cuts 170
(DBN)

Hudson's Bay cutting 250 corporate jobs
(DBN)

Nuro Self Driving Van Plans More Layoffs
(DBN)

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Sports:

Judge halts Suns' bid to exit bankrupt Diamond Sports network New media rights deal for Suns, Mercury shut down by bankruptcy judge
(DBN)

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Pharma:

White House Assembles Secret Team to Tackle Drug Shortages, Quality Woes
(DBN)

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Tech:

Docs warn about AI's "existential threat to humanity"
(DBN)

Tucker Carlson's new Twitter show could spell doom for Elon Musk
(DBN)

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Healthcare:

Filing indicates Adventist Health settled with Fire Victim Trust for $200 million while abandoning Paradise hospital
(DBN)

Cook County plans to erase nearly $80 million of residents' medical debt
(DBN)


Medical credit cards drive up cost of care, says CFPB
(DBN)

St. Clare’s pensioners file motion to have day in court
(DBN)

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Economy:

Inflation continued to cool in April Consumer price index rises 0.4% in April, pushed up by higher auto prices BLS: CPI increased 0.4% in April; Core CPI increased 0.4% Here Are the Key Takeaways From US CPI Report for April YoY Measures of Inflation: Services, Goods and Shelter U.S. prices pick up, showing inflation pressures persist Consumer price growth falls to below 5% for the first time in two years US Inflation Slowdown in Sight as Key Drivers Show Cooling Fed Gets Room to Hold in June as Inflation Shows Sign of Cooling McConnell faces heavy pressure from right on debt ceiling
(DBN)

A recession will unfold this summer and last through the middle of 2024, Evercore chairman says
(DBN)

Used-Car Prices Climb in the US for the First Time in 10 Months
(DBN)

‘Stop Printing Money.’ How Voters Would Solve the Debt-Ceiling Standoff - WSJ If US Defaults Who Doesn't Get Checks Yellen warns US default would threaten global economy, undermine its leadership How the 14th Amendment could solve the debt crisis Dissecting the US Public Debt Clause Debt-ceiling fight heads to battleground NYC suburbs Biden invites lawmakers to White House to discuss farm bill amid looming debt limit crisis Republicans Are Putting Our Standard of Living at Risk Worried Markets Want to Believe a Debt-Ceiling Deal Can Be Done SEC’s Gensler Warns About ‘Lasting Effects’ of US Debt Default
(DBN)

Here's why you can't get any work done
(DBN)

Corporate America’s Taste for Buying Back Its Own Stock Is Waning
(DBN)

Wealthy Americans are getting hit hardest by the economy slowing down
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Commercial real estate lending plunged 56% last quarter as ‘logjam’ of uncertainty clogged the market
(DBN)

New York City-Area Rents Surge by Most in Nearly Two Decades
(DBN)

The Home Buyer’s Quandary: Nobody’s Selling - WSJ
(DBN)

‘King of Coconut Grove’ faces foreclosure. His buyers could lose their homes
(DBN)

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Municipalities:

PREPA parties far apart on value of bondholders' claims
(DBN)

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Oil/Gas:

Oil extends losses after U.S. inventory report shows crude build
(DBN)

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Politics:

House Republican Report Finds No Evidence of Wrongdoing by President Biden
(DBN)

Rep. George Santos charged with 13 criminal counts Congrats To Rep. George Santos On His First Federal Indictment George Santos tricked supporters into giving him money that he spent on designer clothes and credit card payments, feds allege Santos Scammed $25,000 in Covid Unemployment Benefits, Prosecutors Say Santos turns himself in after being charged with financial crimes Speaker McCarthy is not calling on Santos to resign How George Santos’s federal indictment could shake up Congress Indictment Highlights One of George Santos’ Greatest Hypocrisies George Santos claims his federal fraud indictment is because he defended alleged conman Miles Guo
(DBN)

Five takeaways from Trump’s CNN town hall Pure Trump re-injected into the main vein of American politics at CNN town hall Fireworks at CNN Maga Townhall Trump refuses to say he lost to Biden when pressed by Kaitlan Collins - and won't commit to accepting 2024 results Donald Trump town hall viewers ‘feel bad’ for CNN’s Kaitlan Collins as ex-president calls her ‘nasty’ in tense exchange Donald Trump Doubles Down on Election Lies in CNN Town Hall: ‘Unless You’re a Stupid Person, You Saw What Happened’ Liberal journalists, AOC blast CNN over Trump town hall
(DBN)

Poll: Biden Approval 43%
(DBN)

The Trendlines DeSantis Doesn’t Want to See
(DBN)

Bob Iger Chides Ron DeSantis: Do You Want Our Biz, Taxes Or Not?; Slams Florida Governor’s “False Narrative” & Retaliation Over Don’t Say Gay Response
(DBN)

Former Trump press secretary says harassment was ‘really bad’
(DBN)

Trump world booked CNN hoping for a big audience. Now, they’re in the thick of it Trump goes mainstream on CNN. The rest of the pack sucks wind Trump Camp Sees CNN Town Hall as Calculated Risk
(DBN)

Comer fails to link president in Biden family probe House Republicans escalate attacks on Biden family, alleging business with foreign nationals
(DBN)

The trust-nothing election
(DBN)

Biden administration outlines permitting reform goals, calls on Congress to pass Manchin bill
(DBN)

Missouri lawmakers ban transgender care, athletics
(DBN)

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Education:

Texas Wants Chaplains in Public Schools
(DBN)

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Pharma:

Martin Shkreli-founded drug company files for bankruptcy
(DBN)

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Crypto:

Bankman-Fried goes after FTX lawyers at Sullivan & Cromwell for helping prosecutors
(DBN)

U.S. Internal Revenue Service Files Claims Worth $44 Billion Against FTX Bankruptcy
(DBN)

Galaxy Digital will move more of its operations offshore because of a 'regulatory headache' in the US, billionaire crypto bull Mike Novogratz says
(DBN)

DCG settlement with Genesis still undecided as 30-day mediation period proceeds
(DBN)

Miami's Love Affair With Crypto Souring - WSJ
(DBN)

Joint U.S. House Hearing on Crypto’s Future Opens With Discord
(DBN)

IRS Will Continue To Treat Cryptocurrencies Like Property Even Though One Country Considers It Legal Tender
(DBN)

Bittrex approved to borrow $7 million bankruptcy loan in bitcoin
(DBN)

Trustless No More: Law Changes to Enhance Rights of Crypto Customers on an Exchange’s Insolvency
(DBN)

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New Bankruptcy Opinions
(6 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Adversary Proceeding Filings (21 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:

Repeat Bankruptcies Are Piling Up at Fastest Rate Since 2009
(DBN)

Chapter 11 bankruptcy filings ‘increasing slowly but gradually’
(DBN)

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Discharge:

Bankruptcy Discharge Does Not Trigger Statute of Limitations on Claim Based on Security Agreement
(DBN)

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Mass Torts:

J&J, Cancer Victims Ordered to Start Mediation in Bankruptcy
(DBN)

Abuse Victims Prepared to Sue Baltimore Archdiocese Under New Law
(DBN)

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Agribusiness:

Cattle as collateral complicates Minnesota bankruptcy case
(DBN)

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Sales:

SCOTUS Goes to Mall of America: Court Recognizes Jurisdiction Over Appeals of Bankruptcy Sale Orders
(DBN)

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Mediation:

Required Disclosure Of “Last Offers” By Mediating Parties (In re Genesis Global)
(DBN)

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Aviation:

Several prospective bidders for Virgin Orbit aim to maintain company’s operations
(DBN)

Why airline flyers are fuming
(DBN)

Passenger Tried to Storm Cockpit After Meltdown Over Menu
(DBN)

SpiceJet Says No Plans To Seek Insolvency, Will Revive Grounded Planes
(DBN)

Go First will need to raise funds, resolution professional tells staff "Without Merit": Pratt & Whitney on Go First's allegations; to pursue legal route
(DBN)

Lufthansa suffers blow as EU court backs Ryanair challenge against bailout
(DBN)

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Banking:

Mohamed El-Erian says the US is in the second stage of the banking turmoil – and lists 4 ways to avoid a 'significantly damaging' third phase.
(DBN)

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Climate:

E.P.A. Proposes First Limits on Climate Pollution From Existing Power Plants
(DBN)

Manchin vows to oppose all Biden's EPA nominees over climate plan
(DBN)

Searing Summer Temperatures Forecast in Europe and Northeast US
(DBN)

As California attempts a ‘managed retreat,’ coastal homeowners sue to stay
(DBN)

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Fraud:

The Continuing Frauds of Elizabeth Holmes
(DBN)

U.S. attorney seeks prison time for former Kansas lawmaker convicted of COVID fraud
(DBN)

Parents in college admissions scandal have fraud convictions overturned, appeals court rules
(DBN)

____________

Media:

Tucker Carlson tweet announcing new Twitter show tops 100 million views
(DBN)

____________

UK:

John Lewis Chairman on Shaky Ground as Staff Reject Performance
(DBN)

____________

EU:

ECB Officials Start to Accept Rate Hikes Might Not End in July
(DBN)

____________

MENA:

Palestinian militants fire over 350 rockets after Israeli strikes Israeli Aircraft Pound Gaza as Rocket Squads Bombard Israel
(DBN)

____________

Russia:

Wagner chief: We’ll rip out Macron’s teeth
(DBN)

NATO military leaders meet as Putin mocked by commander of mercenary forces in Ukraine
(DBN)

Russia's central bank has $8 billion frozen in Switzerland, which is still deciding what to do with the funds
(DBN)

____________

India:

Government mulls new framework to put IBC cases on fast track
(DBN)

____________

Argentina:

Argentina Is Going Broke to Stall a Full-On Currency Collapse
(DBN)

____________

Hong Kong:

Hong Kong Court of Final Appeal Upholds Dismissal of Bankruptcy Petition Where Debt Under Dispute Was Subject to Exclusive Jurisdiction Clause
(DBN)

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