September 13, 2023

The Daily Bankruptcy News

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3-Column Formating

 

Law:

Could Biglaw Firms Use 'Core' Hours To Get Associates Excited About Returning To The Office?
(DBN)

Biglaw Firm Didn't Take Summer Associates To A Strip Club, Yet Somehow The Story Is... Worse?
(DBN)

Former Big Law Partner Pleads Guilty to Making False Statements in His Personal Bankruptcy Case
(DBN)

Being A Summer Associate Doesn't Guarantee You A Job Anymore
(DBN)

Biglaw And Boutique Law Firms Are Bringing In Big Bucks From Democrats And Republicans
(DBN)

Former BigLaw partner temporarily barred from courthouse should be suspended, board says
(DBN)

The law firm acting as OpenAI’s sherpa in Washington
(DBN)

ACLU Threatens To Tear Down Labor Rights For All In Bid To Escape Its Own Workplace Harassment Case
(DBN)

How Jack Smith can prove Trump knew he lost the 2020 election
(DBN)

Ex-Proud Boys leader says DOJ questioned him over Trump: reports
(DBN)

GOP lawyer with ties to three Trump rivals enters 14th Amendment fray Does the Constitution disqualify Trump from running for president? Dem secretaries of state throw cold water on push to disqualify Trump from the ballot Sweeping and Forcing the President into Section 3: A Response to William Baude and Michael Stokes Paulsen
(DBN)

Federal criminal trials won't be televised under updated rules
(DBN)

Long Proud Boys prison sentences unlikely to thwart violent extremism InfoWars host Owen Shroyer sentenced to 60 days in Jan. 6 case
(DBN)

Graham defends 2020 actions in Georgia, claims he called ‘many people’
(DBN)

Georgia election case prosecutors cite fairness in urging 1 trial for Trump and 18 other defendants
(DBN)

MyPillow CEO rails against lawyers in defamation depositions, says he doesn’t make ‘lumpy pillows’
(DBN)

New York City and Oregon pension funds sue Fox
(DBN)

Prosecutors seeking new indictment for Hunter Biden before end of September Hunter Biden: The struggles and scandals of the US president's son
(DBN)

Ex-Trump adviser Navarro vows to appeal ‘outrageous’ conviction
(DBN)

Mark Meadows decision delivers a powerful lesson — and a blow to Trump Ominous Signs From Eleventh Circuit As Meadows Seeks To Stay Out Of Georgia State Court Fulton County DA fires back at Mark Meadows' 'emergency' immunity arguments
(DBN)

Trump embraces Giuliani's bid to slap down 'fatally defective' RICO indictment
(DBN)

Why Trump’s New Argument in the New York AG Case Won’t Save Him
(DBN)

Christie calls for New Mexico governor to be ‘reprimanded’ for ‘blatantly unconstitutional’ gun ban
(DBN)

Titans of Texas Law Clash in Impeachment Trial of Ken Paxton Paxton chief of staff said Texas AG had staff help him schedule time with mistress “I did everything at his supervision”: Outside lawyer says Ken Paxton approved every step of Nate Paul investigation Impeachment trial day 6: Outside attorney says Paxton avoided official communication channels
(DBN)

MGM cyberattack leaves thousands of guests on the Las Vegas strip locked out of rooms
(DBN)

Federal grand jury indicts Memphis officers in deadly beating of Tyre Nichols
(DBN)

14-year-old tried to drown Black teen, called him 'George Floyd' in racist attack: DA
(DBN)

Laughing police union leader said dead woman 'had limited value,' bodycam shows
(DBN)

Fight over McDonald's leads to man kidnapping woman, threatening to starve her: Police
(DBN)

Jury to decide how much Kim Davis owes same-sex couples illegally denied marriage licenses
(DBN)

US-Mexico border is deadliest migrant land route: UN agency
(DBN)

Facing pressure in NY, Biden officials are helping migrants eligible for work
(DBN)

Cash bail disproportionately impacts communities of color. Illinois is the first state to abolish it
(DBN)

Homeland Security at risk of losing key powers to protect U.S.
(DBN)

Man pointed AK-47 at Little Caesars workers over late pizza
(DBN)

______________

Judges:

BK MN: Judicial Law Clerk Opening to U.S. Bankruptcy Judge Katherine A. Constantine
(DBN)

A Texas judge accused of ethics violations is facing fresh accusations of insider trading related to the merger between MGM and Amazon
(DBN)

Judicial Conference Revises Policy to Expand Remote Audio Access Over Its Pre-COVID Policy
(DBN)

Ginni Thomas’ work with conservative activists led to movement that helped overturn precedent
(DBN)

Trump Quits Shitposting About Federal Judges To Demand They Recuse To Promote Faith In Judiciary
(DBN)

Fifth Circuit's Battling Over Meaning Of Bible Verses, Because That's How They Make Law
(DBN)

The Desperate Need for Binding Recusal Rules for Supreme Court Justices
(DBN)

Californians disapprove of Supreme Court's work by a 2-1 ratio
(DBN)

How the Supreme Court Should Respond to Alabama’s Defiance Alabama Has Put the Supreme Court’s Legitimacy on the Line
(DBN)

______________

Wall Street:

Stock futures are little changed as Wall Street awaits key consumer inflation data
(DBN)

Investors would have made more money buying the S&P 500 instead of following 'Big Short' investor Michael Burry's tweet warnings, an expert says
(DBN)

______________

Layoffs:

Three in Four Americans Believe AI Will Reduce Jobs
(DBN)

Wells Fargo CFO Expects More Layoffs Ahead
(DBN)

Truist plans ‘sizable reductions’ in jobs, unveils $750M cost savings plan
(DBN)

Collins Aerospace announces 800 layoffs
(DBN)

California workers to get earlier layoff warning under bill sent to Newsom
(DBN)

Binance US CEO Departs as Crypto Platform Cuts Third of Staff
(DBN)

______________

Education:

Why Biden’s Education secretary has beef with Harvard
(DBN)

4 Las Vegas Valley schools cancel classes due to teacher shortage amid lawsuit against union
(DBN)

____________

Corporate Reform:

Conservatives hope Supreme Court defangs US consumer watchdog
(DBN)

____________

Maritime:

Panama Canal Says Traffic Restrictions Will Last Into Next Year
(DBN)

____________

Banking:

US Is Looking to Offload Nearly $13 Billion of MBS Seized From SVB and Signature Bank
(DBN)

FDIC admits missteps in First Republic oversight
(DBN)

____________

Climate:

U.S. has seen a record number of weather disasters this year. It’s only September.
(DBN)

Wildfires are coming... for New Jersey?
(DBN)

What are 'smart cities' and why are conspiracy theorists linking them to wildfires?
(DBN)

EPA: Climate law will cut carbon emissions up to 43 percent
(DBN)

____________

Movie Theaters:

Paramount Parent Scores Deal with Creditors: Report
(DBN)

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Fraud:

Unemployment fraud hit $100-135B during Covid, watchdog says
(DBN)

‘Cryptoqueen’ Sidekick Gets 20 Years in $4 Billion Ponzi Scheme
(DBN)

____________

Sports:

Alabama condemns racist, homophobic taunts by fans in loss to Texas
(DBN)

____________

Water:

Dry states taking Mississippi River water isn’t a new idea. But some mayors want to kill it
(DBN)

____________

Crypto:

IMF and regulators set out roadmap to contain crypto risks
(DBN)

Bankrupt FTX reveals $100M weekly crypto liquidation plan in court filing FTX Amends Proposal to Sell Billions in Crypto Assets FTX Tweaks Crypto Sale Proposal to Placate U.S. Government
(DBN)

Fear of FTX-Spurred Crypto Crash Is Overblown, Analysts Say
(DBN)

Who Wants to Buy a Piece of Sam Bankman-Fried?
(DBN)

____________

Agribusiness:

Hemp company failure at center of bankruptcy filing
(DBN)

___________

Economy:

US Inflation-Adjusted Incomes Fell 2.3% in 2022 From Prior Year Inflation drags real U.S. household incomes by most since 2010 US household incomes fall for third straight year: Census Bureau
(DBN)

Soft Core Inflation to Bolster Case Against More Fed Tightening
(DBN)

Investors can't get enough US debt as Treasury bills are bought at a record pace
(DBN)

Average American household now has $10,170 credit card debt
(DBN)

The economy’s safety net is about to disappear thanks to an oncoming perfect storm
(DBN)

Consumers Find Relief Online as US Prices Drop Most in 40 Months
(DBN)

Why More Baby Boomers Are Sliding Into Homelessness - WSJ
(DBN)

Goldman Sachs CEO says economic outlook is uncertain despite soft landing prospects
(DBN)

The US economy is riddled with green flags and is headed for an expansion, not a recession, according to Fundstrat’s Tom Lee
(DBN)

Fed meeting comes during historically tough week for US stocks
(DBN)

Fed to leave rates unchanged on Sept. 20; cut unlikely before Q2 2024: Reuters poll
(DBN)

Here are 3 trends to watch for in the key August inflation report, according to Goldman Sachs
(DBN)

The trusty American consumer is poised to run out of steam by early next year, investor survey says
(DBN)

Poverty rate increases for first time since 2010 Biden’s ambitious anti-poverty battle just took a hit — and so might ‘Bidenomics’ Poverty increased in 2022 as wages fell and inflation rose: Census Why the poverty rate rose
(DBN)

Workers who get promoted are more likely to quit their jobs, new research finds
(DBN)

Some workers are super commuting to avoid relocating amid a push for employees to return to offices
(DBN)

A bold new federal experiment in giving renters cash
(DBN)

Most, Least Expensive States for Retirement
(DBN)

Georgia Gov. Kemp declares state of emergency over inflation
(DBN)

CPI Preview and Owners' equivalent rent
(DBN)

Most Americans say being a man helps a person get ahead in the U.S.
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

CoreLogic: US Annual Home Price Growth Rate Increased in July
(DBN)

Q2 Update: Delinquencies, Foreclosures and REO
(DBN)

Leading Index for Commercial Real Estate Decreased in August
(DBN)

2nd Look at Local Housing Markets in August
(DBN)

Western states have plenty of wide open land. So why can't they build more homes?
(DBN)

Housing September 11th Weekly Update: Inventory increased 0.1% Week-over-week; Down 6.9% Year-over-year
(DBN)

Benjamin Ringel throws Lakewood apartments into bankruptcy
(DBN)

Los Angeles site where Mohamed Hadid planned palatial mansion before filing for bankruptcy is on the market for $68 million
(DBN)

Rising Foreclosure Starts: Navigating The Challenges And Leveraging Innovative Solutions
(DBN)

____________

Oil/Gas:

McDermott Enters Deal to Initiate Financial Restructuring
(DBN)

World at ‘beginning of end’ of fossil fuel era, IEA says
(DBN)

Saudi Oil Cuts Deepen Rift with US
(DBN)

The US is 'playing with fire' as oil reserves plunge to a 40-year low, markets guru Larry McDonald says
(DBN)

The oil industry’s trash could be EV treasure
(DBN)

____________

Municipalities:

NYC’s Rising Migrant Costs Won’t Destroy Its Finances, Bondholders Say
(DBN)

____________

Labor:

UPS CEO sells investors on new labor contract as company sees stock slide ahead of holiday peak UPS execs say new labor deal with Teamsters to cost less than $30 billion
(DBN)

There's still no end in sight for the Hollywood strikes
(DBN)

US auto labor talks intensify near strike deadline UAW may implement targeted strikes if no deals reached with Detroit automakers UAW Eyes Strikes at Big Three With Talks Still ‘Far Apart’
(DBN)

No-Show Workers Add Wrinkle to Stellantis Union Contract Talks
(DBN)

From UPS to Detroit Three automakers, US labor unions flex muscle
(DBN)

____________

Healthcare:

The Hospital at Westlake Medical Center files for bankruptcy
(DBN)

Madera hospital CEO offered job, $150K check. Was it meant to ‘improperly influence’ her?
(DBN)

A father dreamed of a home for his family. Medical debt nearly pushed them onto the streets
(DBN)

Unsafe ‘to be pregnant in Idaho’: Women who had complications sue Idaho over abortion ban
(DBN)

There is no connection between rising COVID cases and elections, contrary to claims online
(DBN)

CDC recommends updated COVID vaccines for anyone 6 months and older
(DBN)

Missouri clinic halts transgender care for minors in wake of new state law
(DBN)

Florida judge allows restrictions on adult transgender care to take effect
(DBN)

The Surprising Places Where Abortion Rights Are on the Ballot, and Winning
(DBN)

____________

Pharma:

Prescription opioid shipments declined sharply even as fatal overdoses increased, new data shows
(DBN)

FDA rules that ingredient in Benadryl and Sudafed from pharmacy shelves doesn't work
(DBN)

____________

Politics:

McCarthy set to endorse Biden impeachment inquiry this week McCarthy opens impeachment inquiry into Biden without House vote GOP moderates line up behind McCarthy opening Biden impeachment inquiry McCarthy’s impeachment gamble carries deep risks Trump privately discussed Biden impeachment with House GOPers Senate GOP unhappy with McCarthy on impeachment inquiry: ‘It’s a fool’s errand’ McCarthy blames Pelosi for his impeachment flip-flop Why McCarthy launched an impeachment inquiry without a vote — and why he can What’s ahead now that Republicans are opening an impeachment inquiry into President Joe Biden Biden impeachment inquiry gives White House a fight it’s ready for White House to send letter to news execs urging outlets to ‘ramp up’ scrutiny of Biden impeachment inquiry Jeffries: Impeachment inquiry is ‘kangaroo court, fishing expedition and conspiracy theater’ How Biden impeachment probe compares to Nixon's, Clinton's and Trump's How Donald Trump’s DOJ gave Biden a major assist in the coming impeachment probe Goldman says there’s ‘no evidence to link to Joe Biden’ on impeachment inquiry The most predictable impeachment investigation in American history Newsom to McCarthy: Focus on your 'murder capital' district, not impeachment Impeachment Experts on Biden Probe: Weakest in History Tuberville says Senate ‘couldn’t get the votes’ to impeach Biden Why Impeach Biden Now?
(DBN)

How Far Will McCarthy Go to Appease Ultra-Conservative Republicans? McCarthy vs. himself Matt Gaetz threatens McCarthy with daily attempt to remove him as speaker
(DBN)

Biden circumnavigates the globe and critics zero in on missteps
(DBN)

Why Biden isn’t getting a credible primary challenger
(DBN)

Christie: ‘I don’t see evidence yet that would support impeaching Biden’
(DBN)

Comer digs in on questions about Biden’s treatment of Ukrainian prosecutor
(DBN)

Trump, Biden both tumble in Iowa: poll
(DBN)

Trump, DeSantis both trail Biden in Morning Consult polls
(DBN)

The Authors of ‘How Democracies Die’ Overestimated the Republicans
(DBN)

Republican megadonors wait for their anti-Trump champion
(DBN)

DeSantis: Presidency ‘not a job for someone that’s 80 years old’
(DBN)

‘We Put in Air Conditionin’, Stayed Year-Round, and Ruined America’
(DBN)

A Growing Share of Republicans Rarely Go to Church. That’s Good News for Trump.
(DBN)

WI: Governor Rejects GOP's Redistricting
(DBN)

Tuberville’s hold on military promotions would take hundreds of hours to process, memo says Tuberville refuses to budge on military promotions despite growing GOP pressure
(DBN)

Book ban defenders use sex scenes to make their point at Senate hearing
(DBN)

Virginia Dem candidate performed sex acts with husband in live videos -- for money Slams Media for Reporting So What if a Candidate Livestreamed Sex Acts with Her Husband?
(DBN)

Tim Dillon Says RFK Jr. Freaked Out When Power Dropped During Podcast: ‘He Thought Someone Was Trying to Kill Him’
(DBN)

Ramaswamy to unveil mass layoffs plan for federal workers Vivek Ramaswamy’s plan to eliminate the FBI without Congress
(DBN)

Boebert escorted out of Denver theater during ‘Beetlejuice’ performance: report
(DBN)

____________

New Bankruptcy Opinions
(3 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (14 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (92 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

Stephanie Pomboy sounds the alarm on corporate bankruptcies, warning it could herald financial catastrophe
(DBN)

More U.S. companies have gone bankrupt in 2023 so far than all of 2022 or 2021
(DBN)

August adds 57 more US corporate bankruptcies; 2023 total tops prior 2 years
(DBN)

______________

Bankruptcy Policy:

Chapter 11’s Inclusivity Problem
(DBN)

____________

Subchapter V:

Subchapter V Trustee’s Facilitation Role (Part 6)—Duties & Inherent Powers
(DBN)

____________

Cannabis:

Alternatives to Bankruptcy for Cannabis Companies (Part 3)
(DBN)

____________

Mass Torts:

Release Me? Supreme Court to Resolve Contentious Bankruptcy Issue
(DBN)

Boy Scouts abuse settlement faces questions as US Supreme Court weighs Purdue appeal
(DBN)

For Church leaders, closing the credibility gap isn’t easy (but it could be simple)
(DBN)

Creditors, Diocese at odds over motion to probe Fidelis sale
(DBN)

____________

Intercreditor:

Will US lender-on-lender violence gain traction in Europe?
(DBN)

____________

Receivers:

The Intersection of Receiverships and Bankruptcy
(DBN)

____________

Aviation:

RTX jet engine problem ripples across global aerospace industry RTX’s Engine Flaw Proves to Be a Boon to Short-Term Jet Rental Firms Pratt Engine Partner MTU Loses $3.6 Billion of Market Value
(DBN)

Go First In Another Tussle With Lessors Over Lease Termination Date Go First's engine lessors tell NCLT moratorium doesn’t apply; RP claims leases terminated post insolvency filing
(DBN)

Qantas Illegally Sacked 1,700 Staff in Further Hit to Reputation
(DBN)

____________

Retailing:

Discount Retailer 99 Cents Boosts Liquidity While Losses Deepen
(DBN)

____________

Celebs:

Katie Price’s Mansion Reportedly On The Line As Bankruptcy Hearing Continues To Loom
(DBN)

____________

Wireless Communications:

Judge purges contempt finding against Hytera, drops proposed global injunction against LMR company
(DBN)

____________

Meme Stocks:

The Legacy of GameStop Isn’t as Triumphant as Dumb Money Suggests
(DBN)

____________

Autos:

Wall Street Bet Big on Used-Car Loans for Years. Now a Crisis May Be Looming.
(DBN)

____________

Tech:

Book reveals Elon Musk's secret deal with Jack Dorsey Book: Musk has 'deep disdain' for 'con man' Trump Manic moods and 3am texts: How Isaacson navigated Elon demons for bombshell bio Elon Musk learned hypnosis as a child and managed to convince his sister that she was a dog and to eat raw bacon, a new book says 9 Elon Musk Revelations in New Biography
(DBN)

Musk "may have jeopardized data privacy and security" at X, DOJ says
(DBN)

Google engaged in a monopolistic feedback loop to maintain search dominance, DOJ alleges
(DBN)

Authors Sue Meta, OpenAI in Lawsuits Alleging Infringement of Hundreds of Thousands of Novels
(DBN)

Treat AI As Your ‘Crazy Drunk Friend,’ Not Like ‘Peanut Butter’: CIA Tech Chief
(DBN)

____________

Defaults:

Corporate defaults jump, highest August monthly tally since 2009 - S&P
(DBN)

____________

Furniture:

Amazon, Target Furniture Supplier Goes Bankrupt, Citing Inflation
(DBN)

GigaCloud named stalking horse for bankrupt furniture maker and retailer
(DBN)

One unintended consequence of the unaffordable housing market: Crashing furniture sales
(DBN)

____________

Sovereigns:

Crisis-hit Sri Lanka readies for critical first IMF review
(DBN)

____________

UK:

'Bankrupt' Birmingham's challenges 'extreme' - leader
(DBN)

'Bankrupt' council's Labour chiefs 'gave £800m liability a zero risk rating'
(DBN)

Nottingham City Council leader says it would be 'foolish' to rule out bankruptcy
(DBN)

UK Mortgage Arrears Jump 28% as High Rates Squeeze Borrowers
(DBN)

UK economy shrinks at fastest pace in seven months, hit by strikes and wet weather
(DBN)

UK discount retailer Poundland to buy up to 71 Wilko stores
(DBN)

Wilko bankruptcy spells end for 400 shops and 12,500 jobs
(DBN)

____________

EU:

European Central Bank is set for hawkish pause as the economy turns south
(DBN)

Europe's solar industry warns of bankruptcy risk as prices drop Solar sector calls for €100M EU bailout as China pushes it to the brink
(DBN)

European Union Pledges to Help Struggling Wind Energy Industry
(DBN)

Euro Zone Began Second Half of 2023 With Slump in Factory Output
(DBN)

____________

Canada:

Victoria mortgage broker Martel guilty of contempt
(DBN)

____________

Russia:

More trouble for the Russian economy ahead: It just significantly raised its inflation forecast, despite Putin saying price hikes are hurting businesses
(DBN)

Russian Steel Tycoon Rashnikov Loses Fight Over EU Sanctions
(DBN)

Kim Jong-un and Vladimir Putin meet in Russia amid arms deal concerns Kim promises Putin North Korea’s full support for Russia’s ‘sacred fight’ Kim Jong Un’s sister appears alongside him at meeting with Putin It’s no mystery what Putin wants from Kim
(DBN)

A Crimean shipyard is on fire after a Ukrainian attack with 2 ships damaged and 24 people injured A major base for Russia's Black Sea fleet in Crimea is going up in flames after a late-night Ukrainian missile attack Ukraine just carried out the same kind of strike on Russia's navy that Elon Musk blocked, believing it could start a nuclear war
(DBN)

The Russian pilot who defected to Ukraine with a Mi-8 helicopter is now providing key aviation intelligence to Ukraine, defense agency says
(DBN)

____________

China:

Country Garden bondholders in talks with law firm Ashurst about legal options -sources
(DBN)

China developer Kaisa's winding-up hearing adjourned to next month
(DBN)

China’s growth is buried under great wall of debt
(DBN)

An online exchange between China’s ‘Lipstick King’ and a viewer over the affordability of an $11 beauty item shows just how messed up the country’s economy is
(DBN)

China says its economy is 'resilient', rejects Western concerns
(DBN)

China preparing for war with US, Air Force secretary says
(DBN)

____________

MENA:

Israel faces constitutional crisis in historic High Court hearing Netanyahu’s Controversial Challenge to Court Power Faces Test
(DBN)

10,000 missing as dams burst in Libya floods Before and after satellite images show scale of Libya flood destruction
(DBN)

US, Iran diverge over terms of $6 billion in prisoner release deal Biden’s new deal with Iran draws fierce blowback
(DBN)

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