May 25, 2023

The Daily Bankruptcy News

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Law:

Will This Megamerger Become A Biglaw 'Breakthrough' For The Magic Circle?
(DBN)

The Am Law 200: Biglaw's Second Hundred Blows The Competition Out Of The Water
(DBN)

There Should Be A Set Definition Of Biglaw
(DBN)

The Cities Where Biglaw Partner Billing Rates Now Cost Even More Money
(DBN)

BARBRI Teaches Most Important Lesson Of Being A Young Lawyer: Dealing With Passive-Aggressive People
(DBN)

Thirteen-year bankruptcy case settled with help from Miami law students
(DBN)

Pardo installed as Walter D. Coles Professor of Law
(DBN)

Supreme Court Unanimously Holds That The IRS Can Summon A Law Firm’s Bank Records Without Giving Notice If Their Client Owes Back Taxes
(DBN)

WSJ Op-Ed: The New NextGen Bar Exam Puts DEI Over Competence
(DBN)

Planned structure of new practice skills questions shared by National Conference of Bar Examiners
(DBN)

Law School Entry-Level Faculty Hiring Is Flat; FAR Applicants Are Down 17% (68% From 2011)
(DBN)

Ron DeSantis Is A Walking Law School Exam Of What Not To Do
(DBN)

Money pours into AI startups that save countless hours of legal paperwork
(DBN)

Will AI Replace Lawyers?
(DBN)

Why it’s imperative lawyers adopt a ‘legal copilot’ model with AI
(DBN)

With generative AI, in-house lawyers will be more business-oriented
(DBN)

Lawyer says community service isn’t ‘viable,’ chooses jail for spitting misdemeanor
(DBN)

Silver Gavel Awards go to works featuring Emmett Till, Roe v. Wade
(DBN)

Fans of Jailed Neo-Nazi Rapper Publish List of ‘Enemies’ Online
(DBN)

Jeffrey Epstein's 'profound' friend Jes Staley still on hook for possible JPMorgan liabilities
(DBN)

Is Ken Paxton Finally in Real Trouble?
(DBN)

Officers describe chaos, fear on Jan. 6 as judge weighs prison time for Oath Keepers’ Rhodes Jan. 6 rioter seen gleefully invading Nancy Pelosi's office gets lengthy prison sentence
(DBN)

As Trump’s Classified Documents Probe Wraps Up, Potential Charges Are Near
(DBN)

Out of the spotlight, Mark Meadows wields quiet political power amid Trump legal woes
(DBN)

Donald Trump Demands To Speak To The Manager At The Department Of Justice
(DBN)

Trans People Are Avoiding Whole U.S. States to Stay Safe
(DBN)

Haley says she’d sign abortion ban, but more Republicans are needed in Congress
(DBN)

Indiana doctor faces discipline hearing over 10-year-old Ohio girl’s abortion
(DBN)

Alex Murdaugh indicted on financial fraud charges related to housekeeper's death Convicted double murderer Alex Murdaugh now faces numerous federal fraud charges
(DBN)

Judge denies motion to quash 'burn after reading' letter by Brian Laundrie's mother
(DBN)

Hear why Trump's attorney says he is 'right to be angry' over judge's order
(DBN)

Man arrested at Virginia preschool with AK-47 in his vehicle after saying he was headed to the CIA, police say
(DBN)

The 73 minutes that changed Uvalde haunts the families of the children who died
(DBN)

Driver who crashed near White House told officials he was prepared to kill Biden and 'seize power'
(DBN)

Baby bison killed after a Yellowstone visitor helped the animal and its herd rejected it
(DBN)

Becky Bliefnick murder: Chilling details at trial of Family Feud contestant-turned-estranged husband
(DBN)

RAND study finds ‘no evidence’ military veterans lean toward extremism
(DBN)

Disbarred attorney convicted of fatally beating his mother with dumbbell and stabbing her Ex-lawyer on trial for stabbing mother, beating her with dumbbell claims mysterious gunmen did it
(DBN)

‘I thought we had time’: Father beaten to death in his front yard protecting his children from grown men who followed his son home from school
(DBN)

Dollar General employee caught on camera hitting alleged thief with her car
(DBN)

PlayStation Live recording helps feds nab man who allegedly killed a father
(DBN)

AirTags track car thieves — but you don't have to
(DBN)

______________

Judges:

Chief Justice John Roberts says Supreme Court can do more on ethics, but offers no specifics John Roberts Gaslights Crowd With 'Commitment' To Super Secret Supreme Court Ethics Plan He Won't Talk About Chief Justice John Roberts seeks to assure the public about the Supreme Court’s ethics Chief justice says he’s committed to making sure SCOTUS adheres to highest conduct standards Ron DeSantis’s very online and very disastrous 2024 campaign announcement Fact-checking Ron DeSantis' 2024 presidential campaign kickoff on Twitter Spaces with Elon Musk
(DBN)

Justice Kagan Puts Her Money Where John Roberts's Mouth Is When It Comes To Supreme Court Ethics
(DBN)

Chief Justice Roberts says building a fence around Supreme Court was the 'hardest decision' of his tenure
(DBN)

This Supreme Court Is Bad, But It’s Nowhere Close To Being America’s Most Radical Or Right-Wing
(DBN)

Supreme Court approval rating declines amid controversy over ethics and transparency: Marquette poll
(DBN)

Trump’s worst judge will hear a $1.8 billion attack on Planned Parenthood
(DBN)

Federal judge reminds lawyers that ‘this proceeding is not the playground’
(DBN)

Trump-appointed judge dings conservative AG's office for 'irrelevant posturing' in TikTok suit
(DBN)

______________

Wall Street:

S&P 500 and Nasdaq futures jump after Nvidia’s blockbuster quarter
(DBN)

‘Dr. Doom’ Nouriel Roubini says failure to raise debt ceiling would cause a market crash
(DBN)

U.S. Stock Ownership Highest Since 2008
(DBN)

______________

Layoffs:

First Citizens lays off almost 500 Silicon Valley Bank employees
(DBN)

Nordstrom chops 300-plus jobs as San Francisco store closures loom
(DBN)

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Politics:

DeSantis will jump into the race by throwing down a gauntlet at Trump Ron DeSantis Joins 2024 Race, Hoping to Topple Trump In Disney-DeSantis fight, former AG Bill Barr backs Florida governor Ron DeSantis joins White House race, tripped up by chaotic Twitter launch Ron DeSantis is stuck in the middle and getting punched from above and below DeSantis signs law allowing him to run for president while remaining governor DeSantis launches GOP presidential campaign in Twitter announcement plagued by glitches Fox News Trolls ‘Disaster’ DeSantis Launch on Twitter — After Analysts Crowned Musk the New Murdoch Ron DeSantis gambled on Elon Musk and went bust
(DBN)

It Begins: Trump Kicks Off DeSantis Launch Day With First of Many Posts Attacking Fellow Florida Man
(DBN)

Fox News Host Mark Levin Gets Blasted by MAGA Twitter After Posting Link to DeSantis Donations Page
(DBN)

'Nobody imagined it would go on this long': Bud Light sales continue to plummet over Mulvaney backlash
(DBN)

CNN to host town hall with Nikki Haley on June 4
(DBN)

Scott raises $2M over first 24 hours in race
(DBN)

7 in 10 independents concerned about Biden’s mental fitness: survey
(DBN)

Montana first to ban drag performers from reading to children in schools, libraries
(DBN)

Musk says he wants someone "fairly normal" for president
(DBN)

Private equity getting drawn back into presidential politics
(DBN)

Make America Florida: Ron DeSantis’s pitch to beat Trump in 2024
(DBN)

____________


Economy:

Debt limit negotiations hit 'speed bump,' Democratic official says McCarthy: Debt Ceiling Standoff "Not My Fault" These are the Cuts the GOP Wants US Credit Rating at Risk of Fitch Cut on Debt-Limit Impasse Debt-Limit Talks Stall as Time Runs Short to Avert US Default Could $25 Billion in Social Security Payments Force a Debt-Limit Deal? Republicans, White House see progress in US debt ceiling talks GOP, Biden Negotiators Resume Talks Amid Debt Default Impasse The Odds of US Going Past Default Date Are 25% and Rising, JPMorgan Says McCarthy: Debt ceiling negotiators will ‘try to finish’ deal at White House Default on U.S. Debt Risks ‘Permanently’ Denting Nation’s Credit Rating Default May Be the Least Likely Outcome of Debt Ceiling Talks US stocks fall as concerns about US debt default gain steam Here's why the US could still be considered in default even if it keeps paying its debt Debt ceiling talks hit a snag with eight days until default deadline Moody’s chief economist: ‘Everyone is going to get hurt’ if US defaults on debt McCarthy’s office has not met with Chamber during debt ceiling fight Key Republican urges McCarthy, GOP to ‘hold the line’ in debt ceiling talks Gaetz says most in GOP ‘don’t feel like we should negotiate with our hostage’ GOP unites in brinkmanship over default, rejecting Biden compromises House Republicans are dealmaking newbies — and that could be a problem McCarthy responds to growing angst over debt talks: 'Don't blame me' McCarthy wants to 'finish up' debt talks Wednesday, though sides remain far apart White House believes massive Dem bailout may be needed to pass debt ceiling compromise Potential Debt Ceiling Deal Would Barely Change Federal Spending Path McCarthy’s Republicans push debt ceiling talks to brink, lawmakers leaving town for weekend Inside Wall Street’s Playbook to Prevent Debt-Ceiling Chaos - WSJ Worried About US Debt Default? What to Do
(DBN)

Charting the Rise of America’s Debt Ceiling
(DBN)

Young adults taking longer to reach 'key life milestones'
(DBN)

FOMC Minutes: Staff Predicts Recession Starting in Q4; Future Monetary Policy "less certain"
(DBN)

Goldman CEO David Solomon once again warns US inflation will prove sticky - and suggests more Fed rate hikes are coming
(DBN)

Some Fed officials wanted to keep options open for another rate hike, minutes show
(DBN)

A June pause in rate hikes would be a close call for Fed officials, minutes of last meeting show
(DBN)

Trader Bets on June Fed Rate Hike Mount Despite Debt-Limit Paralysis
(DBN)

Unemployment Is Low, But So Is the National Mood
(DBN)

ChatGPT was a black swan event
(DBN)

Charted: Public Trust in the Federal Reserve
(DBN)

Russia and China seal economic pacts despite Western disapproval
(DBN)

How some people get away with doing nothing at work
(DBN)

Mike Pence calls Donald Trump's policy on Social Security 'identical' to Joe Biden's
(DBN)

FactCheck: “(Donald) Trump ran up more debt than any other president in American history.”
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

Two Key Housing Themes: Low Inventory and Few Distressed Sales
(DBN)

New home sales are surging — here’s why
(DBN)

Black Knight: "Mortgage Delinquencies Rise on Calendar Effect" in April
(DBN)

What new home sales numbers could mean for buyers and the economy
(DBN)

AIA: Architecture Billings Decreased in April
(DBN)

We're entering a brutal new era for the housing market
(DBN)

Landlord played 'We Didn't Start the Fire' while torching MN building
(DBN)

'It definitely is a shock': Tenant charged with brutal ax murder of landlord found wrapped in tarp
(DBN)

____________

Municipalities:

The 15 cheapest cities to live in the US, where locals spend under 25% of their incomes on housing and can also enjoy parks and great schools
(DBN)

____________

Student Debt:

House to vote on measure to block Biden's student debt relief program
(DBN)

____________

Retailing:

Newsom knocks Target CEO for pulling LGBTQ merchandise from stores
(DBN)

Abercrombie & Fitch surges more than 20% after reporting surprise profit
(DBN)

Best Buy shares rise on earnings beat, even as electronics sales slow
(DBN)

American Eagle Outfitters shares plunge as retailer lowers forecast
(DBN)

____________

Private Equity:

Discounting Dan Loeb Cuts Fees On Investor Cash He Won’t Give Back
(DBN)

____________

Climate:

How global warming and a wet winter may impact the U.S. wildfire season
(DBN)

After Typhoon Mawar battered Guam, ‘what used to be a jungle looks like toothpicks’
(DBN)

Chevron's Carbon Offsets are Mostly Junk
(DBN)

____________

Maritime:

OOCL Says Bed Bath & Beyond's $32M Claim is a Distortion of Facts
(DBN)

____________

Movie Theaters:

Cineworld Now Expects to Emerge From Bankruptcy in July Cineworld expects to exit bankruptcy protection in July, but shareholders move to stop wipeout plan Regal Cinemas Owner Cineworld Restructuring Backed by Majority of Lenders Cineworld looks for fresh start amid plan to exit US bankruptcy in July
(DBN)

____________

Fraud:

Ex-Morgan Stanley Adviser Gets Seven Years for Fleecing Clients in Ponzi Scheme
(DBN)

____________

Media:

Tucker Carlson most popular individual Americans follow for news: survey
(DBN)

____________

Crypto:

OPNX opening its bankruptcy claims product for Celsius users soon
(DBN)

Fahrenheit Wins Bid to Acquire Assets of Insolvent Crypto Lender Celsius Celsius Network’s bold bid selection revealed
(DBN)

FTX CEO Suggests Restart Plans For The Firm In New Compensation – Here Is What It’s Looking To Do
(DBN)

Shaq Served FTX Suit at NBA Playoff Game, Also Sued For Astrals NFT Startup
(DBN)

Crypto Mogul Do Kwon’s Bail Is Revoked in Montenegro
(DBN)

____________

Labor:

State lawmakers want children to fill labor shortages, even in bars and on school nights
(DBN)

____________

Utilities:

Georgia nuclear rebirth arrives 7 years late, $17B over cost How Georgia and South Carolina nuclear reactors ran so far off course
(DBN)

____________

Cannabis:

Thousands of pounds of marijuana, but not enough stores to sell it
(DBN)

____________

Telecoms:

Telecom servicer QualTek enters bankruptcy to cut $307 million debt
(DBN)

____________

 


New Bankruptcy Opinions
(8 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (30 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (4 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:

More companies file bankruptcy after 2-year lull
(DBN)

______________

UST:

Delaware Bankruptcy Court Latest to Determine that Refund of Excess Quarterly US Trustee Fee Payments is Appropriate
(DBN)

____________

Aviation:

Bankruptcy Sale Scatters Virgin Orbit to The Winds How Virgin Orbit lost a billion dollars Richard Branson’s Space-Tourism Dreams Face a Crucial Test Flight
(DBN)

Go First crisis: DGCA grants 30 days to airline to submit its revival plan Delhi HC judge recuses from hearing pleas by aircraft lessors of Go First for release of leased planes Fallout from the bankruptcy can be contagious for India's aviation sector
(DBN)

Chirping sounds lead airport officials to bag filled with smuggled parrot eggs
(DBN)

____________

Banking:

'Dr. Doom' economist Nouriel Roubini warns US regional banks will 'certainly' face a credit crunch
(DBN)

Bankruptcy Judge Lets Directors of Failed Bank Tap into D&O Insurance
(DBN)

____________

Education:

What federal default would mean for schools and universities
(DBN)

College enrollment continues to slide as students question the value of a four-year degree
(DBN)

Miami school library moves Biden inaugural poem out of elementary section after complaint
(DBN)

A bill that would have required Texas public schools to display the Ten Commandments has failed
(DBN)

What Will Universities Do Once Bakke Goes Belly Up?
(DBN)

Texas: Replacing School Counselors w/ Chaplains
(DBN)

____________

Autos:

Tesla's reputation slumps as GM, Ford climb Tesla's stunning drop in brand popularity
(DBN)

____________

Healthcare:

Rural California Hospital’s Bankruptcy Highlights Industry Strains California hospital to file for bankruptcy
(DBN)

Mass shootings’ cascading impact
(DBN)

In the “Wild West” of Outpatient Vascular Care, Doctors Can Reap Huge Payments as Patients Risk Life and Limb
(DBN)

This company made billions by surprise-billing helpless ER patients. Then justice arrived
(DBN)

Small, Rural Communities Have Become Abortion Access Battlegrounds
(DBN)

Accused seller of ‘sham’ health insurance paid $100 million for consumer refunds before seeking bankruptcy protection
(DBN)

Atlanta-based healthcare company plans to sue its former CEO for millions
(DBN)

____________

Tech:

Elon Musk wants to build a digital town square. But his debut for DeSantis had a tech failure. Elon Musk tried a big presidential broadcast event and Twitter broke
(DBN)

A.I. poses existential risk, ex-Google CEO Eric Schmidt says
(DBN)

Generative AI is helping figure out who is riskier for insurers
(DBN)

Climate scientists flee Twitter as hostility surges
(DBN)

____________

Sovereigns:

Sri Lanka could wrap up debt restructure talks by Sept, president says
(DBN)

Pakistan Growth Slows Sharply as Economic Challenges Mount
(DBN)

____________

UK:

UK stocks tumble for second day on BoE rate hike worries
(DBN)

London Leads Record Increase in Rental Costs Across UK
(DBN)

Farage Was Right: Brexit Has Failed
(DBN)

____________

EU:

EU Banks Are Said to Sail Through Early Round of Stress Tests
(DBN)

____________

Canada:

Environmental Priorities in Insolvency Proceedings and the Impact on Lenders: Alberta Court Broadens Redwater Principles
(DBN)

Soaring costs and shifting tastes put restaurants on the edge of bankruptcy
(DBN)

____________

Russia:

Russia will respond ‘extremely harshly’ to future incursions, defense minister says Border raid exposes Russian defenses and divisions
(DBN)

Head of Russian private army Wagner says his forces are handing control of Bakhmut to Moscow
(DBN)

Erin Burnett calls out Putin’s use of 17th century map during Ukraine talk
(DBN)

The F-16 Jets Kyiv Wants Aren’t Flying in Ukraine Any Time Soon
(DBN)

Russia's economy needs a 6-day work week to help navigate sanctions, business group says
(DBN)

Empire's Twilight? Russia Loses Support in Its Own Backyard
(DBN)

EU Blocks More Than €200 Billion in Russian Central Bank Assets
(DBN)

Wagner Chief’s Feud With Russian Military Cracks Putin’s Image of Control - WSJ
(DBN)

Companies are finding it’s not so simple to leave Russia. Others are quietly staying put
(DBN)

Europe Is Successfully Replacing Its Lost Russian Diesel Supply
(DBN)

____________

Sweden:

Swedish Housing Starts Slump 55% in Latest Sign of Crisis
(DBN)


____________

Mexico:

Shaking roofs, frayed nerves as Mexico's 'Popo' volcano rumbles
(DBN)

____________

China:

China Warnings Flash Across Global Markets as Growth Disappoints
(DBN)

Chinese Hackers Strike US Infrastructure
(DBN)

____________

Germany:

Germany enters recession after GDP falls for second successive quarter
(DBN)

German Housing Push Falters as Building Permits Slump by a Third
(DBN)

____________

India:

IBC Proceedings Are Meant For Resolution Of Defaulting Corporate Debtor & Not For Determining What Is Pending From Him: NCLT
(DBN)

____________

Cayman:

Cayman Islands Restructuring: Cross-Class Cram Downs and Competing Valuations
(DBN)

____________


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