September 7, 2023

The Daily Bankruptcy News

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3-Column Formating

 

Law:

DLA Piper adds Robert Klyman as Co-Chair of the Firm’s Restructuring Practice
(DBN)

Oregon's Supreme Court Could Greenlight Hands-On Bar Exam Replacement
(DBN)

Top Lawyer Who Mocked ‘Scared’ Lehman Faces Trial Over Tax Scandal
(DBN)

Which Law Schools Are 'Overperforming' On Their Ultimate Bar Exam Passage Rates?
(DBN)

Hogan Lovells Reelects CEO, Who Says The Elite Firm Will Only Merge With 'Winners'
(DBN)

Do this, not that, when preparing witnesses and during testimony, new ABA ethics opinion says
(DBN)

Does federal law prevent employers from making you wear a bra at work?
(DBN)

Ex-Cadwalader Clients Lose Bid for Legal File in Criminal Case
(DBN)

Trump's favorite law professor 'doesn't know what he's talking about': Laurence Tribe
(DBN)

Meddling clerk ‘betrayed her oath of office’ in Alex Murdaugh murder case, new-trial motion alleges
(DBN)

Elon Musk Seeks Galaxy Brain Defamation Lawsuit Against Anti-Defamation League For... Not Defamation
(DBN)

Trump dealt big loss in E. Jean Carroll defamation lawsuit • Trump raped E. Jean Carroll, and there's no need for a 2nd jury to waste time on that, judge rules • Court Saves Trump The Trouble Of Trying To Convince A Jury He Didn't Assault Or Defame E. Jean Carroll. He Did.
(DBN)

Trump seeks delay for New York fraud trial • Judge rejects Trump bid to delay New York fraud trial
(DBN)

Judge in Trump's Georgia case holds first televised hearing •Georgia prosecutors plan to call 150 witnesses in Trump election case • Trump Prosecutor Sees 4 Months and 150 Witnesses for Georgia Election Trial • Fulton County judge hears arguments on splitting up election interference case
(DBN)

Tired: Trump Indictment Criminalizes Free Speech! Wired: Cop City Indictment Criminalizes Free Speech!
(DBN)

Trump Lawyer Eastman Forced to Testify in California Ethics Case
(DBN)

Only The Really Rich Or Really Indigent Can Dodge Accountability, And Rudy Giuliani Isn’t There Yet
(DBN)

DOJ complains about being dragged into MyPillow-Dominion defamation lawsuit
(DBN)

Former Trump White House lawyer says he doesn’t think Meadows case will be moved • Mark Meadows could beat Trump to Supreme Court over federal court removal bid
(DBN)

Georgia judge 'skeptical' of DA's plan for Trump, 18 others to stand trial next month
(DBN)

Judge denies Kenneth Chesebro’s request to sever Georgia charges from Sidney Powell
(DBN)

6th death in 6 weeks reported at Georgia’s Fulton County Jail
(DBN)

Should Supreme Court disqualify Trump from running? It now looks as if justices may be asked to rule • Watchdog group files suit seeking to keep Trump off Colorado ballot under 14th Amendment • Trump Faces Legal Push to Bar Him From 2024 Ballots Over Jan. 6 Capitol Attack
(DBN)

Trump sees ‘political advantage’ in floating pardons for Jan. 6 defendants: Haberman • A Trump Judge Sentenced Proud Boy Leader to 22 Years. Jan. 6 Apology Crew Blames 'Biden Regime' • Man accused of restraining officer Fanone joins 1,145 others arrested over Jan. 6
(DBN)

Cohen says Jan. 6 sentences ‘should be a warning’ for Georgia defendants
(DBN)

Prosecutors say Peter Navarro ‘acted as if he is above the law’ as trial begins • Former Trump aide Peter Navarro's trial set for closing arguments in contempt of Congress case • 5 Takeaways from Navarro's Contempt Trial
(DBN)

Witness in Trump documents case reached deal with prosecutors, ex-attorney says
(DBN)

Comer seeks unredacted emails between Hunter Biden associates and White House aides • Republicans demand leaked documents about prosecutors' interactions with Hunter Biden's attorneys • Mr. President, release the emails • US to Indict Hunter Biden in September, Prosecutor Says • Special counsel seeks to indict Hunter Biden on gun charges • Comer slams Weiss, says gun charges ‘least of all the crimes that Hunter Biden has committed’
(DBN)

Biden declines to grant conditions 9/11 defendants were seeking in plea negotiations
(DBN)

Impeachment lawyers say Ken Paxton 'turned the keys of the office over' to indicted donor • Paxton's Top Deputy - AG Was Out of Control
(DBN)

Alabama exposes a new constitutional landmine on abortion
(DBN)

Abortions surged in states near those with new bans: study • How the number of abortions in each state has changed — in the places it was legal this year
(DBN)

A judge orders Texas to move a floating barrier used to deter migrants to the bank of the Rio Grande
(DBN)

Nearly 50 years after he was wrongfully convicted of rape, DNA testing exonerates 72-year-old man
(DBN)

Man killed pregnant wife after she 'disrespected him,' then hunted down her father
(DBN)

Dad accused of murdering teen son with a power saw tells judge: 'I own the NFL'
(DBN)

Football coach who won Supreme Court case for right to pray on the field resigns after one game
(DBN)

Woman allegedly uses bear spray on her sister and 1-year-old in parking space dispute
(DBN)

'Money-making scheme': Appeals court likens vehicle forfeiture program to extortion
(DBN)

Gets And the Law
(DBN)

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Judges:

Is there another shoe to drop in the story of Clarence Thomas and his billionaire pal?
(DBN)

America’s state supreme courts don’t look like America
(DBN)

Complex litigation judge has 50 ideas to simplify the courts
(DBN)

Woman accused of unprovoked attack on stranger threatens to 'slash' judge's face as well
(DBN)

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Wall Street:

S&P 500 futures dip as Wall Street shifts focus back to path of interest rates
(DBN)

US stocks fall as Fed official says more rate hikes could still be on the table
(DBN)

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Layoffs:

Roku is laying off 10% of its workforce
(DBN)

Nielsen laying off 9% of its global workforce
(DBN)

Robots Are Already Killing People
(DBN)

Change in transportation vendor leaves 140 Wisconsin employees without a job
(DBN)

Australian lender NAB to cut over 200 back-office jobs
(DBN)

GIA to Lay Off About 20% of Workforce at Carlsbad HQ
(DBN)

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Politics:

McConnell Says He Will Remain GOP Leader Through 2024 Election • McConnell's survival strategy as Senate GOP leader • McConnell’s freezes complicate Republican attacks on Biden’s age
(DBN)

Huckabee: 2024 will be last election ‘decided by ballots rather than bullets’ if Trump loses over legal cases • Republicans just can’t stop calling for civil war
(DBN)

Many Vivek Ramaswamy-curious voters have something in common: They’re actually backing Trump • Ramaswamy interview with MSNBC’s Hasan gets heated
(DBN)

Nearly half of voters say any 2024 GOP nominee would be better option than Biden
(DBN)

Pence to warn GOP is on "the road to ruin"
(DBN)

House Republicans warn of McCarthy leadership challenge
(DBN)

Haley team blasts DeSantis, Ramaswamy as "Trump-lite"
(DBN)

Pressure ramps up on Tuberville over 300 military holds
(DBN)

Trump wallops Biden among unlikely voters: poll
(DBN)

Could Gavin Newsom run for president in 2024? Lots of GOP insiders are all but convinced
(DBN)

Labor Day weekend neo-Nazi demonstrations near Disney, Altamonte Springs prompt outrage
(DBN)

Project Veritas audit accuses ‘untouchable’ founder of improper spending
(DBN)

FEMA disaster relief hangs in the balance
(DBN)

Biden impeachment talk draws groans from GOP senators
(DBN)

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Awards:

Global M&A: Top 100 Restructuring Professionals
(DBN)

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Corporate Governance:

Five Steps To Navigating Fiduciary Duties In The ESG Era
(DBN)

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Banking:

FDIC seeks bids for $33B in Signature CRE loans
(DBN)

Credit Suisse collapse led balance sheet of Swiss banks to contract
(DBN)

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Television:

Even Charter thinks that cable TV sucks now
(DBN)

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Water:

Utah officials sued over failure to save Great Salt Lake: ‘Trying to avert disaster’
(DBN)

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Economy:

US Labor Department Sees Much Slower Job Growth Through 2032
(DBN)

Fed's Beige Book: "Growth was modest during July and August"
(DBN)

ISM® Services Index Increases to 54.5% in August • US Service Gauge Rises to Six-Month High, Topping All Forecasts
(DBN)

Trade Deficit at $65.0 Billion in July
(DBN)

Donald Trump’s trade war and the pandemic slash China’s share of U.S. imports to their lowest level in 17 years
(DBN)

Fed Should Stick to Its Plan for One More Rate Hike, Bullard Says
(DBN)

Oaktree’s Howard Marks Expects More Companies to Default on Debt • Howard Marks warns more companies will default as they feel the full force of the Fed's inflation fight
(DBN)

Jeremy Grantham sounds the alarm on stocks, recession, inflation, and interest rates in a new interview. Here are his 8 best quotes.
(DBN)

Brace for stocks to crash 25% - and a recession to strike by spring, top economist David Rosenberg warns
(DBN)

The gap between men and women in the workplace is at a record low
(DBN)

I job-hopped to 3 jobs in 1 year because I didn't want to waste my time being miserable — and I thank Gen Z for setting this new standard
(DBN)

US Risks Government Shutdown With Congress Short on Time for a Deal • Senate unity puts House Republicans in a jam over government funding fight
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

MBA: Mortgage Applications Decreased in Weekly Survey; Purchase Applications Lowest in 28 Years
(DBN)

The YIMBYs are coming - Inside the fight to build more housing and bring down home prices
(DBN)

Black Knight Mortgage Monitor: Purchase Rate Locks "are now running 39% below pre-pandemic levels"
(DBN)

Apartment building construction on track to hit record high
(DBN)

The share of Americans paying over $2,000 a month for a mortgage has nearly tripled in just 2 years
(DBN)

WeWork plans to renegotiate nearly all of its leases, after warning about its future • WeWork to Renegotiate Nearly All Leases, Exit ‘Unfit’ Sites • Hi Ho, Hi Ho, It's Off To Anywhere But WeWork We Go — The Coworking Movement Dwarfs WeWork
(DBN)

WeWork says it will renegotiate nearly all of its leases - and it's another sign that commercial real estate is in trouble
(DBN)

Tiny home builder who owes $6M spent lavishly before bankruptcy, federal report says
(DBN)

How rich immigrants won U.S. residency by investing $1.4 billion in Philly projects
(DBN)

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Municipalities:

Uncertainty Surrounding Takings Claimants’ Rights in Municipal Bankruptcies
(DBN)

Debt-ridden small town on cusp of bankruptcy or dissolving
(DBN)

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Oil/Gas:

US gas prices soar to their highest seasonal level in a decade even as the summer driving season comes to a close
(DBN)

Goldman Claims Oil Prices Could Hit $107 If OPEC+ Extends Cuts Next Year
(DBN)

The Saudis will have a say in U.S. elections • How might Saudi Arabia's oil confrontation with the Biden Administration play out?
(DBN)

Biden to Cancel Alaskan Arctic Oil Drilling Rights Sold by Trump
(DBN)

Cummins, Daimler and Paccar Partner on $3 Billion Battery Plant for Electric Trucks
(DBN)

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Labor:

Unions seek gains in hostile territory: ‘If you change the South, you change America’
(DBN)

Autoworkers Have Good Reason to Demand a Big Raise
(DBN)

UAW leader warns of strike at any Detroit automaker without a new contract deal next week • United Auto Workers Plan Counteroffer to Ford as Deadline Looms
(DBN)

‘It’s slavery for modern times’: how children of 12 toil in Colorado’s fields
(DBN)

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Tech:

EU cracks down on 6 Big Tech giants
(DBN)

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Retailing:

Party City set to exit bankruptcy with $1 billion debt reduction • Party City Cleared to Exit Bankruptcy, Avoiding Fate of Retail Peers • PCHI Receives Court Approval of Plan of Reorganization, Paving the Way for Emergence • Party City's bankruptcy plan approved, with bad news for shareholders • Party City confirms some of its 800 stores will close as company’s bankruptcy plan is approved
(DBN)

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Education:

Are heat days the new snow days? Schools are canceling class as temperatures soar
(DBN)

Push to revoke bond for mom whose son shot teacher
(DBN)

California Wins Order Blocking School From Outing LGBTQ Students to Parents
(DBN)

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Nursing Homes:

Nursing home inspector shortage could undermine staffing proposal
(DBN)

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Healthcare:

Bankruptcy judge OKs interim funding for Texas hospital
(DBN)

Financially struggling rural Pa. hospital creates GoFundMe page with $1.5M goal
(DBN)

Williamston Hospital Corporation files for Chapter 7 bankruptcy in Delaware court
(DBN)

The next driver of inflation: health care
(DBN)

FDA Faces Lawsuit For Daring To Tell People Not To Ingest Horse Dewormer
(DBN)

As Abortion Laws Drive Obstetricians From Red States, Maternity Care Suffers
(DBN)

Out-of-state residents seeking abortion care in Massachusetts jumped 37% after Roe v. Wade reversal
(DBN)

Covid Mask Mandate at Elementary School Draws Ire of Some Republicans
(DBN)

In the ICU, doctors see rise in Covid cases but less severe disease
(DBN)

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Crypto:

Bankman-Fried loses bid to get out of jail, appeals court will hear case
(DBN)

That’s What I Call Ponzinomics
(DBN)

Bitcoin Miner Riot Platform Made a Record $31 Million From Power Credits in August
(DBN)

Genesis Global Capital Files for Over $600M in Unpaid DCG Loans: Court Docs • Bankrupt Genesis sues parent DCG over unpaid loans of more than $833 million
(DBN)

Celsius Network files ‘adversary complaint’ against EquitiesFirst
(DBN)

Alex Mashinsky's assets frozen by US court as part of criminal case
(DBN)

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Transit:

Chicago Area Faces 30% Transit Cuts Without New Taxes, State Aid
(DBN)

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Utilities:

'$2.5B in Tort Liability'? CA High Court Considers Whether PG&E Negligent Power Shutoff Class Actions Preempted
(DBN)

Texas Declares Grid Emergency as Heat Stokes Power Demand • Texas Teeters on Edge of Blackouts as Demand Squeezes Grid
(DBN)

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Food/Beverage:

Employees are crowdfunding the rescue of America's oldest craft brewer
(DBN)

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Student Debt:

Man Shocked at Co-Workers' Reaction to Student Loan Forgiveness
(DBN)

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Furniture:

Mitchell Gold Co. files chapter 11 bankruptcy • 15 Mitchell Gold + Bob Williams suppliers account for 91% of money owed to top unsecureds
(DBN)

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Social Media:

She was a child-free woman enjoying her Saturday. Then came the culture warriors.
(DBN)

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Ride Hailing:

Uber CEO says his time moonlighting as a driver showed him the company didn't pay enough attention to its drivers. It sparked an all-hands called 'Why we suck.'
(DBN)

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New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (15 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (8 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

Bankruptcies spiked in August — post-COVID rebound ‘is becoming a reality’
(DBN)

More companies are failing as the Fed's war on inflation weighs on businesses
(DBN)

BK WD NY: Caseload Data Month Ending August 2023
(DBN)

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Miscellaneous:

Global restructuring guide: An overview of restructuring and insolvency frameworks
(DBN)

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Mass Torts:

The Boy Scouts’ Sexual Abuse Scandal No Longer Lives in the Shadows
(DBN)

Scout’s Honor: The Secret Files of the Boy Scouts of America exposes a decadeslong cover-up in shattering detail
(DBN)

‘Vastly worse than other scandals’: new film explores sexual abuse in Boy Scouts
(DBN)

Baltimore Archdiocese Considers Bankruptcy Amid Possible Sex-Abuse Lawsuits • Victims' advocates on potential Archdiocese bankruptcy: 'Being re-victimized'
(DBN)

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Contempt:

Ex-Con Held in Civil Contempt but Escapes Incarceration (For Now)
(DBN)

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Trustees:

Trustee’s Broad Duty to Disclose Information to Interested Parties under Section 704(a)(7) of the Bankruptcy Code
(DBN)

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Sales:

Free and Clear Sale Under Section 363 of the Bankruptcy Code Prevents Successor Liability
(DBN)

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Liens:

An Unincorporated Entity will be Unable to Recover as a Secured Creditor in Bankruptcy Unless a Court Invokes the Doctrines of De Facto Corporation or Corporation by Estoppel
(DBN)

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Claim Allowance:

A Majority of Courts Reject the Application of the Rules for Disallowance of Claims under Section 502(d) to Administrative Expense Claims
(DBN)

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Dismissal:

Bad Faith Dismissals in Chapter 7
(DBN)

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Interest:

Till We Meet Again: Eighth Circuit Weighs in on Appropriate Interest Rate in a Cramdown
(DBN)

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Priority Claims:

Shared Responsibility Payment may be a Tax Entitled to Priority under the Bankruptcy Code
(DBN)

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Aviation:

Southwest Airlines, United sound alarm about rising jet fuel costs
(DBN)

Go First lessor seeks ‘robbed’ parts replacement, round the clock security after parts went missing from grounded planes
(DBN)

Qantas’s Troubles Mount With Looming Shakeup of Airport Slots
(DBN)

People on a 3-hour flight to Japan ended up on an 11-hour round-trip ordeal after their plane circled over the destination airport, landed in another city, then missed a 10 p.m. cutoff
(DBN)

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Buses:

SEPTA may lose the $24 million it spent on electric battery buses
(DBN)

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Festivals:

My miserable, euphoric, muddy escape from Burning Man
(DBN)

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Climate:

Here’s where sweeping heat is closing US schools
(DBN)

Life and Death in America’s Hottest City
(DBN)

UN: 2023 Hottest Summer on Record
(DBN)

Floods Take Deadly Toll in Greece and Turkey
(DBN)

Climate tech investors push past politics in deal boom
(DBN)

Cities are advertising themselves as ‘climate havens.’ Experts say there’s no such thing
(DBN)

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Trucking:

Yellow Bankruptcy Puts Management and Labor Under Pressure
(DBN)

Class 8 Truck Orders at Highest Level Since Feb.
(DBN)

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Autos:

Your new car's options now come with a monthly fee
(DBN)

Tesla Owner Slams His Model S On Quality Issues
(DBN)

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Sovereigns:

Argentina needs to default, not dollarise
(DBN)

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UK:

An equal pay claim took down Britain’s second-biggest city. Others are on the brink • Birmingham’s bankruptcy is only the tip of the iceberg • Bristol mayor blames government after Birmingham City Council effectively declares bankruptcy • Bankruptcy of Birmingham cannot be blamed on Government funding cuts • Sunak on Labour: 'They've bankrupted Birmingham' • Massive bets gone bad • Zooming in from holiday as his city crumbles • Call for talks to safeguard jobs amid ‘tough decisions’ at Birmingham council • More than 20 other councils also at risk of going bust after Birmingham declares effective bankruptcy
(DBN)

The Guardian view on local government finance: a growing crisis with deep roots
(DBN)

UK House Prices Fall at Sharpest Pace Since 2009, Halifax Says
(DBN)

Bankruptcy petition reveals extent of former England footballer’s tax debts
(DBN)

UK Companies Expect to Raise Prices at Slowest Pace Since 2021
(DBN)

Land of milk and honey? Why New York may not be a panacea for UK firms
(DBN)

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Canada:

West-end apartment project halts as developer files for bankruptcy
(DBN)

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Russia:

U.S. to announce it’s sending controversial depleted-uranium rounds to Ukraine
(DBN)

NATO’s Romania slams Russia for ‘serious violation’ over drone
(DBN)

'Not the time to go wobbly': McConnell continues push for more Ukraine aid
(DBN)

Vladimir Putin is gambling on Donald Trump winning US election, insiders say
(DBN)

Russian missiles kill 16 at Ukraine market as Blinken visits to show support, offer more U.S. help
(DBN)

____________

China:

Why China's response to economic challenges is not working
(DBN)

China’s Export Slump Eases Despite Global Demand Pressures
(DBN)

China’s Credit Wreck Exposes Governance Failings to the World
(DBN)

Paul Krugman warns China is headed for a 'very nasty fall' as Xi Jinping sounds more like a Republican than a communist
(DBN)

China’s Distressed Developers Soar in Wave of Speculative Buying
(DBN)

Country Garden Creditors Fear it Won’t Dodge Another Bullet
(DBN)

Pentagon Plans Vast AI Fleet to Counter China Threat
(DBN)

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India:

Is India the World’s Next Great Economic Power?
(DBN)

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Germany:

Once Inoculated by Its Nazi Past, Germany Is Becoming a Far-Right Stronghold
(DBN)

German Industrial Production Down for Third Month as Woes Linger
(DBN)

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Mexico:

Mexico's Supreme Court decriminalizes abortion nationwide
(DBN)

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