September 12, 2023

The Daily Bankruptcy News

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3-Column Formating

 

Law:

Paul Weiss Continues Raid on Kirkland & Ellis in London and US • Paul Weiss unveils 13-partner transatlantic team after swoop on rival Kirkland
(DBN)

Ex-Biglaw Partner Needs To Brush Up On All Things 'Star Wars' For His New In-House Job
(DBN)

Infamous Plaintiffs’ Firm Files For Bankruptcy. Will Strems Get His $36 Million?
(DBN)

Lawyer's Microsoft email snafu goes from $1.75M lawsuit to Ctrl+Alt+Settle
(DBN)

Girardi’s Criminal Risk in Balance at Resumed Competency Hearing
(DBN)

September 9, 2023 Bankruptcy Quiz
(DBN)

Harvard Law Grads Give Boston Cold Shoulder, Take Jobs Elsewhere
(DBN)

The Best Law Schools For Public Service (2023)
(DBN)

Law School Went Remote For Finals Due To Student's Possible Shooting Threats
(DBN)

Biglaw Associate On Trial For Punching Man After Alleged Homophobic Slur
(DBN)

Georgia defendants’ legal strategies could delay Trump trial • Meadows seeks to block possible conviction amid federal court removal battle • Mark Meadows files emergency stay request in Georgia case • Mark Meadows' 'emergency' motion laments he 'could be forced to go to trial' before appeal • What Meadows' loss on moving Georgia case out of state means for Trump
(DBN)

Attorney For Trump Defendant Admits Just How Little He Knows
(DBN)

Lawsuit argues Trump disqualified from appearing on California ballot
(DBN)

I watched the newly-public security camera footage from January 6. I saw things I hadn’t seen before — including eerie scenes of lawmakers fleeing for their safety on one of the darkest days in American history.
(DBN)

Mike Lindell Goes Absolutely Bonkers Over 'Lumpy Pillows' In Video Deposition
(DBN)

Paxton impeachment jury deliberations could start later this week • How an extramarital affair factors into Texas Attorney General Ken Paxton’s impeachment trial • Impeachment trial of Ken Paxton continues with former Chief of Staff on the stand • Texas impeachment: Whistleblower warned Paxton ‘You should not be doing this’
(DBN)

DOJ no longer pursuing case against Michael Flynn business partner
(DBN)

Sen. Feinstein family legal drama sent to private mediation
(DBN)

Sheriff in New Mexico’s most populous county rejects governor’s gun ban, calling it unconstitutional • Democrats question legality of New Mexico's temporary gun ban order • Outrage over New Mexico governor’s temporary gun ban
(DBN)

Post-9/11 first responder deaths now nearly equal to attack casualties • About 40% of New York 9/11 victims' remains have yet to be identified
(DBN)

Mexican families cross U.S. border in unprecedented numbers • 103 House Democrats join calls for Biden to open up the immigration playbook
(DBN)

Andreessen Horowitz sued for discrimination after startup collapse
(DBN)

As more children die from fentanyl, some prosecutors are charging their parents with murder
(DBN)

‘I killed your mother and grandmother. Call the police’: Man told kids he slit throats of his wife and mother
(DBN)

Nurse convicted of murdering girlfriend after telling cops 'I probably did it'
(DBN)

Suspect pleads guilty to 'irrational' road rage murder of cancer-stricken Vietnam vet
(DBN)

Mississippi sheriff who oversaw 'goon squad' that tortured Black men fights for immunity in yet another case of excessive force
(DBN)

Authorities raise reward to $25,000 for escaped convict Danelo Cavalcante after he shaves beard • Police say escaped Pennsylvania killer is armed
(DBN)

Houston Rockets’ Porter Jr. charged with assault and strangulation
(DBN)

A man walked into an FBI office and admitted to killing a woman more than 4 decades ago in Boston, officials say
(DBN)

Mother charged nearly 40 years after her newborn baby was found dead in remote woods
(DBN)

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Judges:

Georgia's Southern District Has Yet To Have A Black Judge. Things Don't Look Better After Getting Rid Of Affirmative Action.
(DBN)

Montana attorney general accused of flouting top state court’s authority, insulting justices
(DBN)

Trump asks judge overseeing Jan. 6 case to recuse herself
(DBN)

Judges and Facebook
(DBN)

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Wall Street:

Stock futures inch lower following winning day for Wall Street
(DBN)

U.S. Stocks Most Mostly Higher, Nasdaq Jumps Following Tesla Upgrade
(DBN)

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Layoffs:

Truist Eyes ‘Sizable’ Job Cuts in Effort to Trim Expenses
(DBN)

COVID-19 & The WARN Act During a Bankruptcy Case
(DBN)

Barclays set to cut hundreds
(DBN)

Goldman may cut 450 or more employees in October: report
(DBN)

Further 9,100 Wilko employees to be made redundant after rescue deal collapses
(DBN)

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Politics:

House GOP returns with Biden impeachment in crosshairs: what’s next • Senate GOP says House lacks evidence for impeachment
(DBN)

Hard-line House Republicans itching for shutdown, impeachment fights
(DBN)

'Perfect storm' brewing in House, Colorado Republican says
(DBN)

Alabama files emergency appeal with Supreme Court in redistricting case • Alabama Asks Supreme Court to Revive GOP-Drawn Voting Map Again
(DBN)

McCarthy pressure hits a boiling point • A Republican Leader From the 2013 Shutdown Has a Warning for Kevin McCarthy • Matt Gaetz Floats Unlikely Partnership to Take Down Kevin McCarthy • McCarthy brushes off hardliner threats to oust him
(DBN)

Left-leaning watchdog calls Comer’s investigation into Biden a ‘complete and total failure’
(DBN)

Former House Republican says Biden, Trump polls should ‘send off alarm bells’ to GOP
(DBN)

President Biden falsely claims he was at Ground Zero ‘the next day’ after 9/11
(DBN)

Trump knocks Wall Street Journal, Fox over his reported popularity in GOP
(DBN)

Trump challenges Biden, Murdoch family to mental, physical competency tests
(DBN)

Putin Calls Trump’s Legal Woes Persecution That Benefits Russia
(DBN)

Trump’s Electoral College Edge Seems to Be Fading
(DBN)

Christie says he’ll follow Trump ‘around the country’ if former president doesn’t debate
(DBN)

Biden’s punt to Congress on immigration is wearing thin with advocates
(DBN)

Dems inch toward House majority with recent court wins • Redistricting battles roil fight for House majority
(DBN)

Biden Announces ‘I’m Going to Bed’ Before Being Cut Off Mid-Sentence After Several Weird Outbursts at Troubling Vietnam Presser
(DBN)

Biden calls climate deniers 'lying dog faced pony soldiers' and talks about 'Indians' and John Wayne at VERY bizarre press conference
(DBN)

Democrats should be ‘concerned’ ahead of 2024, Brazile says
(DBN)

Youngkin pardons father of girl sexually assaulted in school bathroom
(DBN)

California Democrat Barbara Lee rips Gavin Newsom over Feinstein appointment comments
(DBN)

Survey: Russia Rates Highest as a Threat to the World, Half See U.S. as a Global Danger
(DBN)

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Healthcare:

Modesto company accused of improper influence with $150,000 check to Madera hospital bidder
(DBN)

Mercy Iowa City could become something other than hospital
(DBN)

Private Equity Is No Longer a Reliable Last Resort for Troubled Hospitals
(DBN)

‘Life and death situations’: Lawmakers battle Wall Street over health care
(DBN)

Helton teams up with organization to eliminate $10 million in medical bills for Colorado residents
(DBN)

‘Life and death situations’: Lawmakers battle Wall Street over health care
(DBN)

Updated Covid Vaccines from Pfizer and Moderna Approved by FDA • FDA approves updated COVID-19 vaccines amid late-summer wave
(DBN)

My husband and I moved from New Jersey to rural West Virginia. Healthcare access was so bad we moved back to New Jersey.
(DBN)

Silicon Valley’s quest to live forever now includes $2,500 full-body MRIs
(DBN)

____________

Coal:

Coal Plant Costs Indonesia $1 Billion in Health Loss, Study Says
(DBN)

Coal Use In Europe Rises In Shocking Reversal
(DBN)

____________

Banking:

JPMorgan CEO Jamie Dimon blasts draft US bank capital rules
(DBN)

Banks’ profit dropped 11% in Q2, FDIC finds
(DBN)

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Economy:

Households' Financial Outlook Worsened in August • Households Less Optimistic about their Financial Situations
(DBN)

JPMorgan's Jamie Dimon says we've been 'spending like drunken sailors,' and that's a big risk to the economy
(DBN)

Americans have never been wealthier
(DBN)

JPMorgan CEO Jamie Dimon says he wouldn't be 'a big buyer of a bank' and sounds the alarm on the economy
(DBN)

The US consumer has been holding up the economy this summer by splurging on movies and concerts — but this may not last, a new survey indicates
(DBN)

How a camping analogy explains the Fed's delicate moment
(DBN)

The US needs to get its ballooning debt problems under control to keep the dollar dominant, former IMF official says
(DBN)

Central Banks Set for Higher-for-Longer Era to Fight Inflation
(DBN)

Two under-the-radar ways bosses are tracking how full their offices are
(DBN)

Boeing’s execs refuse to relocate, instead taking private jets to work: report
(DBN)

Congrats to New York workers: You may soon see just how underpaid you are
(DBN)

The US labor market and citizens’ views are shifting in favor of immigration
(DBN)

Republicans might shut down the government... again • A Government Shutdown Is ‘Last Thing’ US Economy Needs, Treasury’s Adeyemo Says • GOP senators: Next move to avert shutdown is on McCarthy • Congress has just 11 days to fund the government: Here's how a shutdown would impact you
(DBN)

The US is importing more goods from Mexico than China for the first time since 2003
(DBN)

White House prepares for sharp rise in poverty rate
(DBN)

Trump’s Economic Plan: Raise Taxes on the Middle Class, Cut Them on the Rich
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

How much owning a home really costs in the U.S.
(DBN)

Court appoints receiver for vacant Latitude Five25 apartments on Near East Side
(DBN)

Banks to hemorrhage $250 billion because of the cratering office real estate market, says investor who cashed in on the 2008 housing crash
(DBN)

Florida insurance crisis threatens DeSantis’ 2024 bid as hurricane season intensifies
(DBN)

Warning to check your home policy after major insurance company declares bankruptcy – residents could lose $1000s
(DBN)

____________

Municipalities:

Hartford's pension is just 67 percent funded
(DBN)

The crashing office market will deepen the economic ‘doom loop’ for America’s cities, economist says
(DBN)

When New York Was ‘Drop Dead City’
(DBN)

____________

Oil/Gas:

IEA Claims Global Oil Demand Will Peak Before 2030
(DBN)

The oil industry’s cynical gamble on Arctic drilling
(DBN)

____________

Television:

Could ESPN Be Facing Bankruptcy Because of Spectrum? Its Reportedly Possible
(DBN)

____________

Crypto:

FTX Holds $1.16B in SOL, $200M in Bahamas Real Estate, Court Filing Says
(DBN)

FTX update, Alameda P&L edition
(DBN)

Unpacking FTX’s stunning asset holdings – A deep dive
(DBN)

Former Celsius CEO Alex Mashinsky Seeks to Quash U.S. FTC Case
(DBN)

Maximizing Celsius Bankruptcy Recovery: The Crypto vs Equity Dilemma
(DBN)

Crypto Volatility Picks Up on Looming Sales From FTX’s $3.4 Billion Token Hoard
(DBN)

FTX 2.0: Bankman-Fried’s Former Crypto Exchange Outlines Plan for Potential Reboot
(DBN)

____________

Climate:

G20 leaders look to triple global renewable energy by 2030
(DBN)

Global climate ambition gets fresh boost, as world lags on Paris Agreement goals
(DBN)

The Southern Hemisphere, where it’s winter, has been really hot too
(DBN)

The world’s brutal climate change report card, explained
(DBN)

Hedge Fund Boss Slams Hydrogen Bets as ‘Complete Waste of Time’
(DBN)

NOAA: 2023 worst year on record for billion-dollar disasters
(DBN)

California Moves Toward Broad Emissions Rules for Big Business
(DBN)

____________

Media:

From prime time to lurid tales in a shed: the rapid descent of Tucker Carlson
(DBN)

____________

Retailing:

St. Louis-based retailer to sell assets as part of Chapter 11 bankruptcy restructuring
(DBN)

Soft Surroundings, Creve Coeur-based clothing and home goods retailer, files bankruptcy • Women’s apparel company to close dozens of stores as it files for bankruptcy after 18 years in business • Soft Surroundings to sell assets as part of Chapter 11 bankruptcy restructuring • Soft Surroundings Files for Chapter 11 Bankruptcy as It Shifts to Online-Only Model
(DBN)

We Need Shopping Malls, or Something Like Them
(DBN)

____________

Meme Stocks:

GameStop and AMC fundamental financials 'remain concerning,' analyst says
(DBN)

____________

Labor:

Biden Administration Expects a Deal Between UAW and US Automakers
(DBN)

Averting Auto Strike Hinges on Pay Raises to Cover Inflation
(DBN)

The 4 key reasons why the UAW could strike GM, Ford and Stellantis this week
(DBN)

With UAW strike looming, Biden must choose between his union allies and US economy
(DBN)

UAW Says It’s Ready to Negotiate 24/7 With Detroit Automakers
(DBN)

‘The Talk,’ ‘Jennifer Hudson Show’ Set to Resume During Dual Strikes
(DBN)

The Dangerous Demand for Child Labor
(DBN)

____________

Tech:

US pressure on social media over misinformation likely unconstitutional, 5th Circuit says
(DBN)

AI chatbots were tasked to run a tech company. They built software in under seven minutes — for less than $1.
(DBN)

Elon Musk has ‘demon-like’ outbursts and ‘multiple personalities’: biographer
(DBN)

Musk Ignored Pleas to Stop Alienating Advertisers, New Book Says
(DBN)

What you need to know about Google’s existential threat • Google’s search engine dominance is at the center of the biggest US antitrust trial in decades
(DBN)

Twitter appears to throttle New York Times
(DBN)

Experts sound alarm over 'conscious' AI as they warn robots are 'evolving' like humans
(DBN)

____________

Autos:

Customers call for buyout to save major bankrupt car dealership closing all US branches saying they had ‘the best deals’
(DBN)

Tesla soars 10% after Morgan Stanley says its Dojo supercomputer could add $500 billion to its market cap
(DBN)

Luxury EVs dominate the U.S. market
(DBN)

Stellantis reports progress in talks with auto workers, to make another offer Monday
(DBN)

____________

Sports Facilities:

Troubled Mesa sports facility Legacy Park headed for auction
(DBN)

____________

Water:

The US has pumped so much groundwater that it's literally splitting the ground open across the American Southwest
(DBN)

____________

Fishing:

Blue Harvest files for Ch. 7 bankruptcy, company likely to liquidate assets
(DBN)

____________

New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (21 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (4 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Litigation Finance:

Burford Eyes 37,000% Return in $16 Billion Win Over Argentina • Burford Capital Statement on YPF Damages Ruling
(DBN)

____________

Jurisdiction:

Personal Injury Tort Claims as Core Proceedings in Bankruptcy Courts—Broad, Narrow, and Intermediate Approaches
(DBN)

____________

Mass Torts:

Doctor asks court to toss J&J lawsuit against her over cancer research
(DBN)

Boy Scout Settlement Opponents Want Bankruptcy Plan Paused for Purdue Appeal - WSJ
(DBN)

Concerns raised over New Orleans’ Catholic institutions shouldering cost of clergy abuse claims
(DBN)

How Columbia Ignored Women, Undermined Prosecutors and Protected a Predator For More Than 20 Years
(DBN)

____________

Equitable Subordination:

The Third Circuit Requires Inequitable Conduct by a Higher-Priority Creditor to Equitably Subordinate its Debt to a Lower-Priority Creditor
(DBN)

____________

Small Business:

Small Business Owners are Entitled to Exempt Reasonable Compensation from the Bankruptcy Estate
(DBN)

____________

Conflicts:

Compliance with Local Rules will Prevent an Individual Attorney’s Conflict from Imputing to the Entire Firm in a Bankruptcy Proceeding
(DBN)

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SARE:

Non-Income Producing Properties that Never Operated may be Single Asset Real Estate Under the Bankruptcy Code
(DBN)

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Discharge:

The Dischargeability of Money Judgments Versus Property Interests in Arbitration Awards for Domestic Contributions in the Context of Unmarried Couples
(DBN)

____________

Avoidance Actions:

Avoidance of an Unauthorized Post-Petition Transfer of Intellectual Property Under Section 549 of the Bankruptcy Code
(DBN)

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Sanctions:

$55,000 Sanction on Counsel Flouting Discovery in Bankruptcy Proceedings Is Upheld
(DBN)

Gossip Draws Fine
(DBN)

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Corporate Governance:

Essential Corporate Governance Duties and How To Avoid Violating Them
(DBN)

____________

Student Debt:

U.S. Senate leaders must keep their promise for student loan solution by reversing exception in bankruptcy law
(DBN)

____________

UST:

U.S. Trustee Fee Increase That Is Not Applicable Uniformly Violates the U.S. Constitution
(DBN)

____________

Safe Harbors:

A Transfer Made in Connection with a Securities Contract May Not Be Avoided Under Section 546(e) of the Bankruptcy Code
(DBN)

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Rejection:

The Effect of Rejection of a Copyright License on a Non-Debtor Licensee
(DBN)

____________

Aviation:

Pratt Engine Flaw to Idle Hundreds of A320 Planes for Years
(DBN)

Airline SAS extends deadline for equity fundraising
(DBN)

A passenger forced a United Airlines flight to return to the gate after trying to enter the cockpit and open the exit doors before takeoff
(DBN)

Tarmac delays are all the (out)rage on social media. What you need to know
(DBN)

Livid couple made to sit next to farting dog who drooled on their legs on 13-hour flight
(DBN)

Delta passengers stranded on island after diversion warned not to start a ‘revolution,’ told to be ‘grateful’ plane didn’t crash
(DBN)

____________

Gas Stations:

Bankrupt gas station abruptly closes 13 ’underperforming’ locations and says ‘entire business enterprise in jeopardy’
(DBN)

____________

Sovereigns:

Sri Lanka Gets Closer to IMF Funds With Local Bond Swap Deal
(DBN)

____________

UK:

How Do You Cram Down HMRC in a UK Restructuring Plan?
(DBN)

Residents fear a rise in crime and taxes as Birmingham declares 'bankruptcy' • £100m Oracle bill contributed to Birmingham City Council bankruptcy
(DBN)

Focus shifts to Kent County Council’s financial struggles after Birmingham authority declares bankruptcy
(DBN)

More English councils expected to fail owing billions, warns Moody’s
(DBN)

Bank of England Policy Maker Mann Signals Support for Further Rate Hikes
(DBN)

UK Posts Record Wage Growth Even as Job Market Cools Down
(DBN)

UK’s Offshore Energy Industry Risks Missing Out on 95,000 Jobs
(DBN)

____________

EU:

EU Cuts Euro-Zone Outlook as German Economic Woes Deepen
(DBN)

____________

Russia:

Zelensky says Ukraine ‘waited too long’ to launch counteroffensive
(DBN)

Milley says Ukraine has 30-45 days of ‘fighting weather’ for counteroffensive
(DBN)

Russians opened fire on a Ukrainian flag tied to balloons, revealing their position for a counterattack, Ukraine says
(DBN)

Putin wants more land. The European Union is racing to get there first.
(DBN)

Ukraine hit Russia with one of its own prized tactics — turning an old, captured tank into a giant rolling bomb • Ukraine appears to be repurposing powerful Russian anti-tank mines and using drones to drop them on Putin's invasion army
(DBN)

There are 5 things the West could do to put even more pressure on Russia’s struggling economy, think tank says
(DBN)

Moscow claims Putin's party leading votes in annexed Ukraine regions
(DBN)

U.S. Military Exercises in Russia’s Backyard Cause Alarm at the Kremlin - WSJ
(DBN)

Elizabeth Warren Demands Probes of Elon Musk, SpaceX After Ukraine Revelations • An explosive Elon Musk biography is just hitting shelves. But the book’s acclaimed author is already walking back a major claim
(DBN)

____________

China:

Have we reached peak China? How the booming middle class hit a brick wall
(DBN)

Chinese property giant Country Garden's stock surged by 10% after receiving an extension to repay some of its bonds
(DBN)

China is likely headed for a full-blown financial crisis as its economy is due for wilder swings, market expert says
(DBN)

China’s Housing Rebound Fades Fast in Big Cities After Stimulus
(DBN)

____________

MENA:

Protests grip Israel ahead of historic Supreme Court session
(DBN)

Hundreds Feared Dead in Eastern Libya After Storm, Flooding
(DBN)

Israel’s democracy is at a crossroads as its top court debates a law limiting its power. Here’s what to know
(DBN)

____________

Haiti:

Haiti gangs take aim at disabled children: ‘Put those kids out of their misery or we will’
(DBN)

____________

Morocco:

Moroccans sleep in the streets for 3rd night following an earthquake that took more than 2,100 lives • Morocco earthquake toll passes 2,800 as rescuers search for survivors
(DBN)

____________

India:

‘Pref share owners aren’t fin creditors’
(DBN)

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