September 21, 2023

The Daily Bankruptcy News

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3-Column Formating

 

Law:

Top International Firm Conducts Lawyer Layoffs Due To 'Prolonged Downturn'
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With diversity efforts under fire, New York bar gives blueprint for the legal profession
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Biglaw Partner Accuses Firm Of 'Callous Gaslighting' In $20 Million Sexual Harassment Lawsuit
(DBN)

Lawyers who sued Tesla board for excess pay want $10,000 an hour
(DBN)

The Lawyers Sam Bankman-Fried Once Trusted Are Drawing Criticism
(DBN)

‘Precruiting’ and ‘exploding offers’ create stress for law students seeking summer associate jobs
(DBN)

Top 30 Law School Creates Special Barbie Parody Video For Constitution Day
(DBN)

Former law school dean, known for ensuring ‘people were treated equitably,’ dies after attending university event
(DBN)

Indicted fake Trump elector wanted to 'be a part of history': report Lawyers say 3 Republicans who falsely said Trump won Georgia were ‘contingent’ electors, not fake The Untold Story of One Indicted Fake Trump Elector in Georgia Georgia fake electors tell judge they had federal authority to push for Trump victory
(DBN)

Trump is ripping off his Georgia legal defense from less wealthy co-defendants: report
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Peter Navarro Says Trump Dropped 6 Figures To Pay His Legal Bills
(DBN)

Judge sets date to decide damages owed by Giuliani
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Jack Smith's latest witness is 'a very big deal' who puts Trump in grave peril: CNN's John Avlon
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Attorney Lin Wood named as state’s witness in Georgia case but says he hasn’t turned on Trump
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My night out with the Proud Boys
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Trump protester turned conspiracy target Ray Epps pleads guilty to Jan. 6 charge
(DBN)

Georgia Prosecutors Ask Court To Probe Trumpland Lawyers' Many, Many Conflicts
(DBN)

Former Trump aide Cassidy Hutchinson accuses Giuliani of groping her Ex-WH aide claims Rudy Giuliani, then 76, groped her at 'Stop the Steal' rally on Jan. 6 Giuliani Angrily Denies Trump Aide’s Groping Allegation
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'Can't use pre-check anymore': Legal experts mock Sidney Powell over TSA complaint
(DBN)

Former Clinton impeachment prosecutor sentenced to 22 months in prison
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Chesebro, Powell allowed to interview Trump grand jurors in Georgia case
(DBN)

Ty Cobb Compares Don to 'Mob Boss'
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Trump Privately Frets He Could Be Headed to Prison
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Attorney General Merrick Garland squared off with House Republicans over the Biden probe AG Merrick Garland Once Again Reminds Republicans Who He Works For 'Absurd!' Merrick Garland unloads rage on GOP lawmaker for insulting his religious heritage Rep. Thomas Massie rips Merrick Garland over Jan. 6 informants: 'You may have just perjured yourself' Takeaways from Garland's House Hearing
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Hunter Biden’s prosecutor worried about lack of help from other federal prosecutors, IRS official says Hunter Biden to face gun charges in Wilmington court on Oct. 3
(DBN)

Read the full incident report from Lauren Boebert's infamous night at the theater
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Tech CEO loses $110M pay package after 'groping female employee': report
(DBN)

Constitutional confusion: Survey reveals Americans woefully uninformed about their own rights
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Biden administration to protect Venezuelans
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Florida’s arrest of undocumented van driver escalates Mexico’s tensions with DeSantis
(DBN)

Family traumatized by Waukesha parade massacre sues killer Darrell Brooks, insurance co.
(DBN)

Teens laughed as they intentionally crashed stolen car into retired police chief: Cops
(DBN)

Alabama justices consider whether dropped IVF embryo is 'wrongful death' of 'person'
(DBN)

Judge nixes stand your ground defense by former ballerina who allegedly killed husband
(DBN)

Google sued for negligence after man drove off collapsed bridge while following map directions
(DBN)

9 deputies charged in man's jail death: Sheriff
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Elijah McClain said 'I can't breathe' 7 times as he lay handcuffed, prosecutor says
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Illinois man pleads guilty to trying to burn down planned abortion clinic
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Judges:

96-year-old federal judge suspended in clash with colleagues over mental fitness Federal appeals judge, 96, suspended after refusing to cooperate in mental fitness probe Against The Doctor's Orders: Judge Pauline Newman Suspended For A Year By Her Coworkers 96-year-old federal judge is barred from hearing cases in bitter fight over mental fitness
(DBN)

NY Bar Panel Backs Anti-Bias Classes for Judges, Court Staff
(DBN)

SCOTUS to Rule if Alabama Can Ignore Them Alabama voters tell justices to stay out of election map dispute
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Wall Street:

Stock futures fall for a third day as Fed signals it will keep rates higher for longer
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Layoffs:

GM and Stellantis just laid off more than 2,000 additional workers because of the UAW’s strike
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Auto supplier Dana Inc. announces hundreds of local layoffs
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Radio:

Michael Kay: WFAN’s owners could be bankrupt in a year
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Politics:

Biden's team tells nervous Dems: Just chill
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Biden lead over Trump evaporates in new poll showing dead heat
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Trump jumps to 47-point lead over GOP rivals in national poll
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Why Is Donald Trump Afraid to Debate?
(DBN)

Vance: Impeachment could backfire if GOP goes "further than the evidence"
(DBN)

Trump team already has 1,000-page manifesto outlining what to do if he wins White House: report
(DBN)

Trump steamrolls anti-abortion groups Trump Will Get Away with Snubbing Conservatives on Abortion Trump gets hit from all sides for testing a softer abortion message 'in order to win'
(DBN)

Beshear’s new ad features story of 12-year-old girl raped by stepdad
(DBN)

Trump blasts ‘nasty’ Megyn Kelly after interview
(DBN)

Gaetz calls McCarthy ‘unhinged,’ accuses him of misogyny Why the White House is letting McCarthy flail 'Weak,' 'Lying like a dead dog': McCarthy faces Republican attacks amid looming shutdown McCarthy's biggest conservative critics have something important in common
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Kari Lake to launch Arizona Senate bid next month
(DBN)

Washington gasps at the Senate's new dress code 46 GOP senators slam Schumer's Senate dress code enforcement change Fetterman says he'll wear a suit if Republican 'jagoffs' dodge shutdown
(DBN)

Kevin McCarthy is down to three options and 'none of them are good': report
(DBN)

Here are the criteria to qualify for the second GOP presidential debate
(DBN)

Schumer tees up votes on top military nominations in face of Tuberville blockade Tuberville to try going around his own blockade to confirm Marine commandant Senate gets around Tuberville to confirm Joint Chiefs chairman Tuberville on Schumer advancing nominations: ‘I forced his hand’
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Finally, the largest Muslim population in the nation has an Arab American mayor. And he has big plans.
(DBN)

Nikki Haley is riding a charming, focused, and consistent campaign to third place
(DBN)

DeSantis slips to 5th in NH 'We knew the numbers were bad': Law enforcement staff raised concerns about Ron DeSantis' top crime talking point DeSantis talks Trump, Black history, Disney, state of GOP primary and more
(DBN)

Ken Paxton lashes out at Biden administration, Texas House over impeachment Paxton on possible challenge to Cornyn: ‘Everything’s on the table for me’
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Economy:

Treasury yields highest since 2007 after US debt hits a record $33 trillion
(DBN)

Fed keeps rates steady as hikes take toll on economy Federal Reserve pauses rate hikes as inflation slows down Fed declines to hike, but points to rates staying higher for longer Fed leaves interest rates steady, signals one more hike ahead FOMC Statement: No Change to Rates FOMC Projections and Press Conference
(DBN)

Is the Fed ignoring signs of another financial collapse?
(DBN)

US retail sales smash expectations in August
(DBN)

The Fed’s surprise ally in the fight against inflation
(DBN)

Fed signals growing confidence the U.S. can avoid recession
(DBN)

New moms are working at staggeringly high rates
(DBN)

Global debt hit an all time high of $307 trillion in the first half of 2023 - and developed economies like the US are piling it up at a faster pace
(DBN)

The Fed's next interest rate decision is expected to be great news for Americans
(DBN)

House GOP unveils budget with trillions in cuts to Medicaid, food benefits, and more
(DBN)

Americans are less than 2 weeks away from a federal government shutdown, and Congress still can't agree on the best way to avoid it
(DBN)

Where the job market is growing and shrinking in the U.S.
(DBN)

Small business owners are feeling more confident lately
(DBN)

Centrists plot shutdown Plan B as House GOP flails on spending bills Republican anger grows at GOP holdouts Republicans resigned to being the villains in the inevitable government shutdown Government Shutdown Appears More Likely Centrist Dems and McCarthy's allies are in secret talks to strike a deal GOP senators alarmed by chaos over House spending bills Republicans defeat effort to suspend Senate rules to advance spending package White House outlines potential consequences of shutdown amid divisions in House GOP House GOP reports progress in spending talks as some holdouts relent Congress is already bracing for a government shutdown
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US Debt Clock
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World Debt Clock
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How People Really Live
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Real Estate:

Housing market tightens again as inventory hits historic lows
(DBN)

America's biggest private-equity firms are screwing over college students
(DBN)

America’s Biggest Landlords Can’t Find Houses to Buy Either - WSJ
(DBN)

4th Look at Local Housing Markets in August; California Home Sales Down 18.9% YoY in August
(DBN)

The vicious cycle of homeowners insurance: It's increasingly expensive to protect homes in the disaster-prone areas that need it most Homes in Parts of US Already Uninsurable
(DBN)

Homeowners face rising insurance rates as climate change makes wildfires, storms more common
(DBN)

AIA: Architecture Billings "Softening Business Conditions in August"; Multi-family Billings Decline for 13th Consecutive Month
(DBN)

Adventus dealt $350M foreclosure suit during bankruptcy
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Oil/Gas:

Oil prices could rise to $120 a barrel on further supply cuts, and that would bring economic growth to a halt next quarter, JPMorgan says
(DBN)

Oil is heading for $100 a barrel – and that could spoil everything for the Fed
(DBN)

Some Countries May Walk Back Gasoline Engine Bans Sunak delays UK petrol car ban, seeking voter support on climate
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Tech:

George R.R. Martin, John Grisham and other writers sue over ChatGPT
(DBN)

Elon Musk's Neuralink looking for people to trial its brain-computer chip
(DBN)

Donald Trump Jr’s X account is ‘hacked’ & shares string of wild posts claiming dad is dead & he’s running for president
(DBN)

Signal: Musk will ‘alienate users’ by putting X behind a paywall, says expert Elon Musk's suggested X paywall is too risky to succeed, experts say: 'It will only speed up the deterioration of a platform in chaos.'
(DBN)

Elon Musk told Tucker Carlson he 'voted for Biden.' Turns out, he apparently didn't vote at all.
(DBN)

Biden campaign launches strategy to combat misinformation on social media
(DBN)

Instacart’s 11% plunge on second day of trading wipes out almost all of its IPO gains
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Gambling:

Journalists Have Inside Information. Gamblers May Be Trying to Get It.
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Celebs:

Elon Musk’s Anti-Semitic, Apartheid-Loving Grandfather
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Fraud:

Man admits swindling $2M from 50 Cent’s Hoboken liquor company
(DBN)

L.A. County wanted to help small businesses. Then the scams started
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Food/Beverage:

This L.A. Italian restaurant chain was an incubator for star chefs. Now, one location remains
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Utilities:

Hawaiian Electric Industries Hires Utility Bankruptcy Expert As CFO
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Education:

Challenges to library books continue at record pace in 2023, American Library Association reports
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Climate:

Biden's new "American Climate Corps" aims to enlist 20,000 young people
(DBN)

The Mysterious 'Warming Hole' in the Middle of the US
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Biden administration to put $4.6 billion toward state and local climate plans
(DBN)

UN chief warns of ‘gates of hell’ in climate summit, but carbon polluting nations stay silent
(DBN)

California is engaged in the world’s largest dam removal project in hopes of letting nature rebound
(DBN)

DeSantis rolls out energy policy, contends climate change is invoked to create 'fear'
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Sports:

'Lactose-Infused Rhetoric!' Sinclair Dismisses Bankrupt Diamond's Repeated 'Milking' Allegations, Seeks to Have $1.5 Billion Corporate Divorce Suit Tossed
(DBN)

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Retailing:

US retailers plan to cut about 100K holiday jobs compared to last year
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Banking:

US authorities scrutinize if Credit Suisse misled investors before rescue -filing
(DBN)

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Trucking:

Teamsters want Senate investigation into Yellow’s bankruptcy
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New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (13 new filings today)
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Recent Ch. 11 Adversary Proceeding Filings (8 new filings today)
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Chapter 11 Bankruptcy Case Studies
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Bankruptcy Statistics:

A Look Into 2023: What do the Bankruptcy Statistics Really Mean?
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5 Stocks With Alarming Bankruptcy Potential According to the Altman Z-Score
(DBN)

Bankruptcies are on the rise and what this means for transactional attorneys
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Bankruptcy Strategy:

Texas Two-Step Bankruptcies Carry On Despite Setbacks
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D&O:

Insured v. Insured Exclusion Bars Coverage for Bankruptcy Trustee’s Claims Where Policy Defines “Insured” to Include Trustees and Debtors-in-Possession
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Mass Torts:

Boy Scouts survivors call on state to change law before time runs out for settlement
(DBN)

Parishioners may have to foot the bill for church abuse lawsuits
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Aviation:

Wheels Up Finalizes $500 Million Investment Rescue Package
(DBN)

LAM Mozambique Subsidiary Flying Again After Reaching Debt Agreement With Embraer
(DBN)

India’s Akasa Air cuts flights as pilots quit, flags shutdown risk in court Akasa flying less after some pilots quit abruptly: CEO Vinay Dube
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Labor:

UAW President blasts Trump’s planned visit to the picket lines
(DBN)

Americans broadly support auto, Hollywood strikes -Reuters/Ipsos poll
(DBN)

‘We’re in the abyss’: How the UAW strike could hit the economy
(DBN)

The UAW strike at Ford, GM, and Stellantis could change the entire automotive industry forever
(DBN)

UAW strike plays out like slow-motion car wreck for Detroit automakers
(DBN)

GM executive knocks UAW for ‘flow of misinformation’ amid strike
(DBN)

Bernstein: Strong economy is emboldening workers to get "fair slice"
(DBN)

Hollywood studios, writers near agreement to end strike, hope to finalize deal Thursday, sources say WGA & AMPTP Talks “Encouraging” Today; More Negotiations Set For Tomorrow
(DBN)

FedEx cites ‘upside’ from UPS labor negotiations and Yellow’s bankruptcy — but Postal Service is giving it a run for its money
(DBN)

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Child Care:

The child care industry is on the cusp of a crisis
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Healthcare:

6 cancer surgeons fired amid corporate private equity-backed bankruptcy
(DBN)

Bankrupt Madera hospital wants to sell off farmland to help settle debts
(DBN)

Not Much to Smile About
(DBN)

There’s no sign of widespread COVID-19 mandates in the US. Republicans are warning of them anyway
(DBN)

Suicides in the U.S. reached all-time high in 2022, early CDC data shows
(DBN)

‘We’re going to lose lives’: Health experts decry rise of vaccine skepticism
(DBN)

Anti-Science Views Are Literally Killing Us, Peter Hotez Warns
(DBN)

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Crypto:

Crypto Depositors Spar With Pricey Lawyers in Celsius Bankruptcy (and Land a Few Punches)
(DBN)

Law prof parents of FTX founder used influence to enrich themselves, suit alleges
(DBN)

Sam Bankman-Fried’s Empire Was Crushed by This Infamous Balance Sheet. Here’s More of the Story
(DBN)

Mt. Gox rehabilitation trustee announces extended repayment deadline
(DBN)

NFTs Are Now Totally Worthless
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UK:

Medway Council faces bankruptcy, says report
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Bank of England ends run of 14 straight interest rate hikes after cooler-than-expected inflation
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How conspiracy theories infected British politics
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Canada:

Mass journalism layoffs don't just mean a gap in news coverage. Experts worry they'll hurt democracy too
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Russia:

Paul will hold up any spending stopgap that includes Ukraine funding
(DBN)

Poland’s president: Ukraine like ‘drowning person clinging to anything available’
(DBN)

Zelenskyy trashes the UN for not doing enough against Russia
(DBN)

Ukraine, Russia and the tense U.N. encounter that almost happened — but didn’t
(DBN)

One of Ukraine’s strongest allies says it will no longer supply Kyiv with weapons
(DBN)

Biden to announce new military aid package for Ukraine as Zelenskyy visits Washington
(DBN)

Clock ticks in Ukraine’s offensive as bad weather approaches
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Singapore:

A tourist outraged by her $1,000 restaurant bill called the police after her group was served nearly 8 pounds of Alaskan king crab
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Cayman Islands:

Landmark Judgment on Arbitration and Insolvency Law
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MENA:

Biden tells Bibi he's concerned about Israel's judicial overhaul legislation
(DBN)

Saudi Crown Prince on Iran acquiring nuclear weapons: ‘If they get one, we have to get one’
(DBN)

Saudi Crown Prince on Khashoggi murder: ‘Anyone involved is serving jail time’
(DBN)

‘Every day we get closer’ to normalization with Israel, Saudi crown prince says in rare interview
(DBN)


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Mexico:

Mexico has either just overtaken China as leading exporter to U.S. — or it’s had title all year
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India:

Empowering Home Buyers: IBBI’s game changing amendments in IBC regulation
(DBN)

How is the Insolvency and Bankruptcy Code changing business? A new book answers some questions
(DBN)

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Turkey:

Turkey’s central bank hikes interest rate to 30%
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